davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19

You can regulate this heater to heat
the number Of gallons of hot water you
need. This controls the gas consump-
ton. For ordinary family use set the
control for the number of gallons CT
water you will use. If company comes
you can step it up" while they are
there and set it back when they are
gone. A great money saver.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
Chicago Stocks
B, Abbott. Proetor s Painel
Produce Markets

Delivered IN Indianapolis prices: HEAVY
hsavv breed cocks. &c. Ieghorn breed
cocks. SC: caiored hroilers, lbs, and up
isc: Lecho-n broilers. lbs and up &c
Bareback uroilers. l2c. ducks. fuu teath-
cred and fat &C: geese. fun feathered
81 lsc. Zach fun case must weight IS lbs,
rrosS q deduction cf loc pound unoer
S. IhS vii be made Butter-No. !. asa
sec: butterfat. 2lc. Quoted BY the Wadley
by United Press
CHICAGO. June ls-Eggs : Market
drs-s 22'sc. current receipts. 2l.sc'
cirties. 20tsc: checks. zoe. Butter-Mar-
Ser. weak, receipts 1851 tunS' extra nrStS
10-2l = sccrel. p q y &C extras w
scorel. 13isc firsts $780, score. 2ls4N
22c. seconds ls6-sTis seorel. 2ic: specials.
steady. receipts 81 trucks; hens, u lSe;
broilers i7iz q zoe: fryers. l9G2le; OLD
ROSTERS $50 14C. ducks. II . l6c; geese, sc;
furkevS 14GI7c; LeEhoTnS. 1870 IA &C;
spring chickens 23G PC. Cheese Twins,
= ISIS; DAISIES isa gli'e tonsh iS5i2
liberal. demand and trading moderate.
market about steady on Wisconsin. strong
81 on Idahoes. Wisconsin Round Whites.
s1is s1c. RuSset Burbank. Sc; Idaho
RuSSets sl7ilo. commercial. soc Oso
s,oek-supply, moderate; demand and
,riumphs: steady on Cobhlers; Alabama
Bliss Triumphs $40. Cobbiers. 81 IS;
Arkansas Bliss Triuuphs. 81 90. California
Bgrsa siso ,. 80; MSS: 2
. Sis. Louis. ana Tr.unaphs, $50. Texas
sls2isaiss. Arrivals S. on track 500
shtrrrerrS So
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
CITY BUSINESS
AGAIN RECORDS
CAIN OVER 1884
Chamber of Commerce
Cites Increase in May of
Leading Indexes.

Principal business indexes in the
city registered substantial increases
in May over the comparative month
last year, according to the monthly
statistics issued today by the In
dianapoliS Chamber Of Commerce.
In the main the rise was a continual
ton of that shown in the preceding
month this year
Bank clearings and bank debts.
mirrors of business volume, scored
gains Of S11000,OOO and sci 100000,
respectively over the corresponding
1884 month. A net addition Of
around 1000 telephone stations was
reported. Riders on the Indianap-
oils Railways, Inc. were 100000 ahead
Of year ago.
Power Output Up
Electricity use during the latest
month aggregated 25,OO0OOO kilo-
watt hours, contrasted with 22,000,-
900 kilOwatt hours a year ago. A
total of 1871 new automobiles were
delivered in this city during the
month, against only 1888 in 1884.
Real estate transfers rose more
than 80 per cent for the month as
compared with a year ago. The
number of transfers was 951 and 500,
respectively. 1t was pointed out by
the bureau that the rate Of trans
fers increased substantially during
the later part Of the month.
Building Trade Leads
The building industry, which has
been showing a distinct upward
trend throughout the country, led
the forward movement of business in
this city. In dollar value the per-
mits issued here were nearly three
times those in the similar period last
year.
The increase was largely due, the
bureau declared, to permits for new
home construction, although mod
ernization permits recorded good
gains over a year ago. The total Of
all permits was $334429 for May,
against $116,046 for the same month
of 1884.
Improvement over year ago also
was reported in postal receipts, out
bound car loadings and employment.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
HARDWARE BUSINESS
HOLDS ABOUT STEADY.
Merchants Believe Volume for Year
Will Equal That of 1884.
By Times Special

BY ItMeS SpectHt
NEW YORK, June 19-Retail
trade in the hardware field during
May held at about the same rate as
a year ago, and merchants are hope
full that business for the rest of the
season will equal that Of last sum-
mer, Hardware Age announced here
today.
Recent weather conditions, how
ever, have been subnormal and
change to more seaSonable condi-
lions will improve the demand for
all hardware lines, it was stated.
Business during the current month
has suffered considerably from the
uncertainties Of the NRA situation.
While many large concerns have
announced their intention of con-
tinuing under voluntary codes, with
wages and hours and working per-
sonnet intact, there is no assurance,
however, that lay-offs or changes in
smaller firms may not curtail buy
ing. Hardware prices SO far this
month have shown considerable
SteadineSS.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
SWINE VALUES
AGAIN DECLINE
Market Sharply IS to rs
Cents Lower; Veal
Prices Slump.

Despite a slight decrease in the
number of receipts available at the
Indianapolis Union Stockyards to-
day, the pork market suffered the
third consecutive major decline in
which prices were sharply 15>to Is
cents lower than yesterdays best
average.
Receipts were estimated at only
$500, compared with 5000 in the
previous session. Initial trading de-
veloped slow and an extremely
weak demand prevailed in practical
ly all classes. Today's decline
brought the top price for good and
choice weights down to $685., the
lowest mark in recent weeks.
With eastern consumers still de-
ternined to force meat prices from
high levels, livestock values were af-
fected throughout the country today
by the lack of buying of fresh meats
and moved sharply lower at the
various exchanges. This, however
was believed mostly responsible for
the sharp decrease in local prices.
The bulk, 100 to 275 pounds, was
selling from $685. to $685., while
heavier grades, scaling 275 pounds
and upward, cashed in at $3.50 to
1890. In the lightweight division,
porkers weighing from 100 to 100
pounds, brought $685. to $685.. Ex-
IRENE lights, scaling 100 to 100
pounds, sold at $50 to $3.50. These
classes have suffered the largest loss
in recent sessions. Holdover num-
bered $50.
The cattle market also showed eff
fects of the weak demand. Trad
ing developed slow in practically all
divisions and prices were slightly
lower than yesterdays weak aver
age. Bulk of steers was valued to
sell under $11, while some classes
held slightly higher. Most classes
of heifers were valued under $40.
Receipts were 100.
The veal market, after maintain
ing steady trading range in the
last two sessions, failed to survive
the weak tendency in other markets
and moved largely so cents lower at
the local exchange today The bulk
was valued to sell at $3.50. Re-
ceipts were 300. Lambs values,
however, we're strong to slightly
higher in some classes. Bulk of eve
and weather grades sold from $3.50
to SO. Few were quoted at 1925.
No yearlings classes were available.
Slaughter sheep continued at So
down. Receipts were 600.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
Other livestock
(By Times speciaD

LOUISVILLE. June 9.-Cattle-Receipts
225 Slaughter cattle in light supply, quail
ity plain; demand limited from all buying
sources; early sales and indications barely
steady with a weak undertone; bulk com
mon to medium steers and heifers salable
s625d $50; comon grass killers down 70
around s5,25: better finished dryfeds con;
cows. s4d SIS: good kinds to Sc and higher
for, smooth heifer types: most low cutters ,Is
mostly s425@ 525; best heavies considered ,e,1
and generally steady; bulk better Hereford
stockers and stock calves. S7d8; most
palmer grade light southern dairybreds. 81
as. Calves-Reeeipts, 400, including Is
stock calves: market SOC lower; bulk good
TO choice vealers. SEA I: medium ana lower
grades. $3.50 down. Hogs-Receipts, 800;
ma. ket 15q2 Csc lower; most decline on
yeiEhts 2s9 lbs up and sogss: top and bulk Ps
Sc 60: $50 lbs. up. S. 20: i40-155 lbs. So IS:
l2O-1s5 lbs. $40; sows, $3.50. Sheep.
Receipts. 1000: run includes eight decks
Tennessee springers: general quality Of run
bids fully 25c to mostly soc lower; buyers
talking s7.25d7.50 for better trucked-in
eve and wetl1er springeFg fat clipped ewes
considered salable mostly at sl.5093.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
GRAIN PRICES EASE
IN INITIAL TRADING
Sentiment in 70 Wheat Pit
Turns Slightly BeariSh.
BIZ United Press

By United Press
CHICAGO, June Sentiment in
the wheat pit turned slightly bear
ish today as prices eased on the
Board of Trade.
At the start wheat was unchanged
to q cent lower, corn was I'M
changed to e cent lower, oats were
off Is to Il cent, and rye declined Il
cent.
Routine news developments could
not account fully for the eaSineSS in
grain markets as weather news re-
manned somewhat bullish and the
Liverpool market displayed some
firnness. Failure of corn to open
higher in spite of bullish weather
and crop reports had an adverse eff
feet on wheat and held that grain
in check.
There was a widespread belief that
the price of corn is too high in re-
lation to wheat, and this factor
served to dampen bullish sentiment
in both pits. Bartlett Frazier and
Co.'S Liverpool house cabled that
the situation in the English market
was unchanged.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
FOOD AWARDS SHOWN
Construction Contracts During May
Amount to S1,6O7 900.
By Tim es Special

By Times Special
NEW YORK, June 19.-Construc-
ton contracts awarded by food in
dustries during May amounted to
S1,6O7,00O, according to DR.. L. v.
Burton, editor of Food Industries.
This brought the total volume Of
construction in that industry to
S6927,000 for the current year.
OF the total construction during
the month S674,00o fell into the
beverage classification, $250,000 was
for grain mill products, $4,000 for
milk products, $4,000 for canning
and preserving and $4,000 each for
confectionery and meat products
construction.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
FEDERAL FARM LOAN BONDS
nv Rlvth 4 Col
MAY STEEL BOOKINGS
DIP so P. C. FROM 1884
Orders for Fabricated Product Also
Under First Quarter Average.
By Times Special
NEW YORK,

By Times Special
NEW YORK, Ju1e 19.-Bookings
of fabricated structural steel
products in May, according to pre-
liminary reports received today by
the American Institute of Steel Con-
struction, were about so per cent I'M
der those for the like 1884 month.
The volume, it was said, stood
about IS per cent under the monthly
average during the last quarter of
1884 and about So per cent under
the average during the initial quar-
ter Of this year.
Shipments during the month were
about % per cent less than in the
like 1884 period and backlog of the
industry stands about 30 per cent
under year ago.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
FORM PROTECTIVE GROUP
Postal Stockholders Take Action
After Filing of Reorganization.
By Times Special

By Itne6 special
NEW YORK, June Protective
committees have been formed by
holders of bonds and stocks of the
Postal Telegraph-Cabl Corp, fol-
lowing the filing of petition by the
company to reorganize under Sec
ton 77-B of the Bankruptcy Act, it
was announced here TODAY.
Robert Lehman will be chairman
Of the band committee which was
created by holders of the 25-year
collateral trust per cent bonds
and 25-year collateral trust 5 per
cent debenture stock, both due July
/, 1858. Holders Of the 7 per cent
noncumulative preferred stock
elected Joseph P. Ripley as their
chairman.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
GOLD VALUE INCREASES
Canadian Production During April
Totals 245,697 Ounces.
BIZ Tim es Special

MONTREAL, June 10. - The
volume and value of gold produced
in Canada during April showed sub
stantial gains, compared with the
corresponding month in the preced-
ing year, according to a report re-
leased by the Dominion Bureau Of
Statistics.
Total production Of gold during
the month amounted to 245,697
ounces, and was valued at s8,642, 1892.
compared with 227, 1856 ounces pro-
duced and valued at S7,959,010 in the
same month of the previous year.
The average price paid this year was
S3617, while last year it was S34.93.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
II. c. FOSTER RESIGNS
By Tines Special

NEW YORK, June l9.-The New
York Quotation Co. notified the
governing committee Of the New
York Stock Exchange today Of the
resignation Of Howard c. Foster as
a director and a member OF the
executive committee. John A. Cis-
sci was named 10 the executive
committee and A. Hayward McA.pin
a director.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
Ne7O York Stocks
BvUnited Press

By United Press
NEW YORK, June 19.-Utility
shares on ne stock market turned
strong and active after the House
subcommittee action on recon-
mending modification Of the
elimination section Of the Wheeler
Rayburn bill.
North American climbed almost
2 points TO above II, Consolidated
Gas was above IS for more than a
point gain, while others such as
United Gas Improvement, Columbia
Gas and Public Service Of New
Jersey showed gains Of fractions to
more than a point.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
BLYTH & co. APPOINTS
MITCHELL CHAIRMAN
Former National City Bank Head
Joins Investment Firm

By Tiwrs Special
NEW YORK. June 19-Charles
E. Mitchell. former chairman of the
National City Bank. has been ap-
pointed chairman Of Blyth & Co,
Inc, one Of the nations largest Sc
curity underwriting firms. it was
announced here today.
The announcement came as a
surprise following rumors that Mr..
Mitchell had been retained as finan-
ciaI adviser to the Postal Telegraph
and Cable Corp. which recently
filed a petition for reorganization
under section lib OF the Bankruptcy
Act.
Mr.. Mitchell. who is So years old,
will succeed Charles r. Blyth. or
eanizer and head Of the Blyth firm.
as chairman. Mr.. Blyth formerly
has held both the title Of chair
man and president OF his firm.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
STOCK PRICES INCREASE

NEW YORK, June 19.-The total
market value of so representative
stocks listed on the New York Stock
Exchange at the close of the week
ended June Is was S13,248, Sal 500.
an increase of $345, 744,125, or 2.75
per cent, compared with figures at
the end of the previous week, Paul
H. Davis & Co. announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
INDIANA COAL YIELD
INCREASES IN WEEK
Gain of $4,000 Tons Shown in Period
Ended June /.

Coal production in Indiana
jumped to 100000 tons for the week
ended June /, the United States Bu-
reau of Mines reported today.
Production for the previous week
was 100000 tons and for the same
period a year ago it was 10000
tons.
The state produced nearly per
cent of the nations output.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19

fernE Of SIS
100000
L is interest
ing primarily be-
cause o. the con-
trast % affords
between the atti-
tude of the Ca
madam bankers
and those in
Wall Street when
the government
decides 20 crack
dow" on them.
The Dominion
BOYS fight back
under such cir
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
SECURITY INDEX HIGHER

q ~ y |""INF
NEW YORK. June l9.-1-he IN
dex average for 10 leading invest
ment common stocks during the last
week advanced Il per cent, Dis
tributors Group. Inc, reported TO-
day. The index az the close Of the
week ended June "a stood az 1913
g new high for the current year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
Wall St.
Canadian Bankers
Drawing Envy of
FinancierS.
BY RALPH HENDERsHC
Times Special Writer

ATEW YORK. June ia very
- interesting story has de-
veloped at Toronto. Because the
Canadian government cancelled
contracts between the Ontario Hy-
dro-eIcctr.c Power Commission and
the Quebec power companies for
power the Canadian investment
bankers refused 20 make a single
bid for a Eovernment security Of
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
SETS UP NEW DIVISION

NEW YORK, June 19.-The Equio-
able Life Insurance Society has es-
tablished a separate division in the
group department for the promo
ton and sale of group accident and
health policies, it was announced
today. Henry Reichgott. has been
named manager of the new unit.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
FRENCH FRANC
BELIEVED DEAR
BY ECONOMIST
Over Valuation Seen
Terms OF Both Pound
and Dollar.

NEW YORK, June 19.-The pres
sure upon the franc and the outflow
81 gold from France have been the
outstanding events in international
finance since the devaluation By
Belgium several months ago. The
Bank Of France has attempted, with
little success. to stem the outflow OF
gold BY means Of the orthodox
mechanism Of the discount rate,
which has been raised on successive
occasions until it is now s per cent.
Despite the efforts made TO pre-
vent the outflow Of gold it continued
az a heavy rate until the formation
Of the Laval Cabinet several days
ago. The total loss Of gold amount
Cd 70 more than 500 000,0 900 in a
period OF about two months.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
On Commission RoIU

Quotations below are averaEe Wholesale
commission dealers
-ruits-Bananas. 4'sc = II. s':-auherries.
home EEoUn- 2t-ot case. s. 70 50.
red 2f-1i case. s. 50. Bluehsrr rs. IeorEia,
Gf-cr crate s. 50. 2f-ut. cate. s. SO.
Cherries. Gathering, i5-.e. U.S. SIS
fsioupcs California jumbo. SIS. crate. 81;
Jumbo ass Sass. California standards.
As ss7S Honey DeVS south Arng,5 5i:.;
Bellies. Sic- Arres- WlresarS. s. 50,
rev. fancy Trans1srents g q IS LEMONS,
S-rzls- 7e0-f21s s415. 560s. s37S. Grave
fruit FLORIDA scediess. cas-, eos. sos s725.
California SccCless. sos i0os. SIS. Pine
arr-es. IS. s.. LINES. AcAlcel- rfr laE-
ton zoe Persian seecless. a hundred $
veretables-Cahtsre. home grown. hu,
s. as rev Texas white. Sob Bag s. IS
Potatoes Grren Mountains. ioo-lb- baE
$50; -sif R,5-s OS wS..s is5.rs ssr Ell
ioo-is bar s72s. nsE Triamphs. ioo-ie
s. size. SEs' sSa a'''s srs. S'a s:EnI H
hsrnsrs' SIS wax s.. Ceisrv. washed
ard trimmed. uEcluul. ccz- CSC. Jumbo
errre e. Clruntsrs. ho-hosse. coz. see.
I-co-. COX 7oc. Enciyet California. COZ,
81 Ezg Dlant. sl.2sGl.so cog kale
81 Lettuce dollhouse 18Th. basket. fSc,
California IceberE RAD lettuce. s. IS
Msnc6ss. $50 hsmcsr: small basket
peas home EroVn- clsheL SIS spinach
home croun. blshel 60c. Racishes. dor,
81 q ssc. Turnips, neE a Coz Soc Bees
IA craze. s.. cs1. sSs, Rhubar6. Outdoor
cnr soc NlShrccl-S d 50 sac- Tom a.
ss &C., l heFs sFg ss SS 9sis Sa5''n- SIS
All quotations subject 20 chance I'd c.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
Franc Over-Valued

The cause for the prevarious posi-
ton Of the franc can be traced To
the events OF the last few years.
The depreciation of the English
pound and the devaluation of the
dollar have been two Of the factors
leading to an generalization OF the
franc in terms Of the leading cur
rencies Of the world. That this sit
uatiOn has had a deflationary effect
in France is indicated by the fact
that wholesale prices are at the low
poirt for the entire period Of the
depression.
The Laval government will try to
correct the maladjustment in France
by a policy Of deflation. Deflation
is always a hard pill to swallow.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
BY BARROW LYONS
Times Special Writer

19The central problem of recovery that OF
purchasing The aorogao OF MIA mas brought
this sharply to the front
dilemma prices
pay clothing increased
every articnless prices be
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19

cumstances. apparently. while
those IN our financial district crawl
under their mahogany desks.
But then. Premier Mitchell Hep
burn may not be such a dangerous
adversary as is President Roosevelt.
or maybe the bankers up there do
not have income tax problems. or
II might b. that our bankers have
gone soft as a result Of high liv-
ing. At any event. the Canadians
did what the Wall Street bankers
would like % have done had they
had the courage.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19


WASHINGTON. June l9.-Government
exurnses and receipts for the current fiscal
wear 70 June II. compared with the CORE
spending period OF the previous hscal year.
This Year Last Year.
Fxnsnsss $1,000. 667 6si .O6 Sc. US. $3.50 IS
Receipts 5.67e. 76e. 2a3 SIS 2.96s,052. 435. 81
Defcit w.. $50 sos 547.5i 3.76l ass 6l3 Is
Cash bal. 1873. 9ls.37S.36 2.16i. 49s62S.Oi
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
World Move Necessary

1t seems likely that the French
would accept devaiuation if it were
undertaken in a worldwide move to
stabilize international exchange.
Under these conditions it would not
/ be associated with imitation and a
flight from the currency would not
take place.
Many careful students agree that
the franc is overvalued as compared
with other leading currencies, and
that a devaluation will be necessary
/ before an international sterilization
of currencies can take place.
Thus. although the necessity for
devaluation may be averted tenn
pOrarily, the relationship of costs
and prices, internally and externally,
will make his action necessary be-
] fore a real equilibrium will be re-
stored between the economy Of
i France and that of other important
nations.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
People Strongly Opposed

One Of the important political
barriers to franc devaluation is the
attitude of the people. The huge
middle class suffered a severe loss
IN purchasing power in the imitation
which took place after the war. To
them devaluation is synonymous
with imitation.
However, they have mixed up the
cause and the effect. The devalua-
ton of a currency does not Of itself
result in imitation. In France de-
valuation was Undertaken to stop
imitation. BY de, aluation is meant
changing the gold value of the cur
rency. The imitation in France was
caused by a combination of the
large expenditures, which we're I'M
! dertaken for rehabilitation after the
war, and the large budgetary def
icits. which were necessary to
/ finance them.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
lRv James E. Bennett &.co. }
LOCAL Cash MARKET

CITY grain elevators are paying 70 cents
for No. 2 soft red wheat. other grades on
their merits. Cash corn No. 3 yellow,
70 cents and oats % cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
Where Workers Pay Goes

The grocer and the butcher get Ell per cent Of the
Average employees weeky pay check, according to an
analysis made By the Standard Oil Co. of Ohio The
landlord gets f4.S per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-19
president ROOSEVELT took

president ROOSEVELT took
Il a swing at the Jaw Of the
bankers as soon as he vas sworn
into once. He has been follow
ing it up with severe body blows
ever since. He has kept them on
the run. and only recently have
they found courage even 70 talk
back while showing their heels.
Some months ago they upset the
government bond market by dump
ing some OF their holdings over
board. but this proved TO have been
merely a bluff, for they bought
them all back and have taken a
great many more since.
Il is not the purpose Of this de-
partment TO hold up the Canadian
bankers as a model for department.
Their action. as a matter Of fact,
was quite unpatriotic, to say the
least. But our bankers have not
been motivated BY any unusual
sense Of patriotism. Most of them
have disliked most heartily the
Roosevelt tactics and have re-
strained themselves only by fear
OF the consequences.