davidaulloa/AmericanStories huggingface dataset:
Evening star., 1935-08-04
FOOT INJURY FATAL
Vienna Man, 81, Dies in Emer-
gency of Blood Poisoning.

A case of blood poisoning that de-
veloped after his foot was stepped on
by horse at his Vienna, Va, farm
last Tuesday resulted in the death in
Emergency Hospital yesterday of John
w. Pearson, 81.
After the horse trod on his foot,
Pearson's injury was aggravated when
q wagon tongue fell on the same foot
D short time later.
Evening star., 1935-08-04
York Society Head Dies.

YORK HARBOR, Me-, August 8 P).
Mrs Byron Lathrop, IS, Of Chicago,
Summer resident here for so years and
president Of the old York Historical
and Improvement Society, died here
today.
Evening star., 1935-08-04

(See FAIRGROUNDS, Page B-3.)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24

places. But before you can attach
any Importance to this, you must
know what the lines and places are.
For instance, Hartford, Conn, has
some large gun-making plants.
There are certain types of work in
these plants Of an extraordinarily
skilled character and the number of
men who can do the work is small.
If any great volume of gun orders
descended on these plants they
would exhaust certain types of
skilled labor in Hartford very quick
ly and would then have to go into
the surrounding toWns-NeW Haven,
Waterbury, etC.-for additional help.
1t is entirely possible that in GER
tam types of work not over 200 men
could be found who could qualify as
skilled craftsmen. A hurry-up order
for guns from the War Department
or some foreign country might easily
put these 200 men to work and pro-
duce what in those plants might be
called a skilled labor shortage.
But it would bear very little rela-
tlonship to the whole problem of I'M
employment.
Conflicting reports about skilled
workers come from the New England
shoe industry. Many shoe factories
are located in very small towns.
During the depression these plants
have been running on a very limited
schedule. A large number of skilled
workers have moved away or have
found work of less skilled character
in other tradeS-Work which pays
less money, but is more constant.
In several such towns, when these
mills resumed operations, they
promptly ran into what could be
truthfully called a skilled labor
shortage, But there are other shoe
towns where great number of skilled
workers are unemployed.
What is true, therefore, is that in
a lew special lines in a few particu-
lar spots some factories have found
that their skilled help has been
decimated. But it is not true in any
sense to say that a shortage of
skilled labor has developed.
You have only to look at the vast
building construction industry where
over half of the workers were I'M
employed at the height of the sum-
mer building season; the metal
trades where one-fourth of them are
out of work, and the printing trades
where Is per cent are out of work.
Copyright 1885 NEA Service. Incl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
On Commission ROlU

Quotations below subject to change are
average Who'll sale prices being offered TO
buyers by local commission dealers:
FRUIT-Cranberries early blacks. 25-lb
box; $3.50: pears-MiGhlgaIn Bartiset55s
Casabss s22S; Persians S2d2.25. Bananas
- hands. a pound, SIS. GrapeS-Michigan
12-qt basket, S5c. Persimmons, Indiana.
l2-pt, case, 81 .. Apples Indiana Indiana
81: Delicious, Sl.50Gl,65, Wealthys, ST.
GsunEist, 360s. 81 So 4s2s 81. Grape
fruit. GAS TO los. $3.50 Limes-Mexican
a carton las, 20c; Persian seedleSs a
hundred. 50.
vegetables-Beans, green. round string
less bu;. $3.50. ,Beets--Home grown, doz.,
75c. Carrots-Home grown and Ohio soc;
new bulk. half bu.. Csc Caulihower-Colo-
RADIO. lis, l2S. crate. Sl.90. Celery--Michi
gan. washed and trimmed, jumbo dog.
Cucumbers-Ho thouse doz. box. So
KRle-Home grown, bu. soc Lettuce
1ceberg. California, best. sS.75: home
grown leaf, l5-lb. basket, soc. Endiye-
Ohio, basket. 45e. Mangoes-home srown.
SOC. Mustard-Home grown. bu.. soc.
onions-1ndiena yellow. 50-lb. bag. 90c;
Indiana white 50-lb. bag ST. Utah Span
ish, 50-lb bag, 40. ParSley-Home Grown.
dog do Sc; PesaasIyTelePhone, hampers So
ID. bag, 81 so: Michigan Round White, 100
ID. bag. s.2o. Early Ohios. bu, 81 so:
Idaho Russets. 81 90. Sweet potatoes-In-
diana. Jerseys. bus, sl.40. Radishes-Ohio,
buttons 2-dos. baskets. 6oc. sage-Doz.
sc splnach1-New Zealand, bu.. CSC.
bunch. doz. Soc T rPsMNsN la
Tepscked. lob. carton, Sl.25 Doz. coo.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
PORKER PRICES
DIP Is CENTS
Cows Show Strong, Active
Trend in Cattle
Market.

Weakness which has character
lied trade in hogs at the city yards
during the week continued this
morning, prices dropping fully %
cents on all swine classes.
The bulk, 100 to $50 pounds, sold
for SO. 10 to $3.50; $50 to 300 pounds,
1855 to 1855; 300 pounds up. 1925
TO S9.45; 100 to 100 pounds, 1925 to
S9.75; 100 to 100 pounds, $3.50 to SO.
Packing sows brought 1925 to SO.
Fresh receipts of porkcrS totaled
$500. Holdovers we're 203.
Steers and heifers were scarce in
the cattle market, the trend slow
and steady. Cows were unusually
active, prices strong to 25 cents
higher. A few steers sold for $3.50
to SO. Very few heifers went above
$3.50. Beef COWS brought $3.50 to S.
Low cutters and cutters ranged from
So to 1925. Culls sold mostly at
S5.75 down. Vealers we're 81 higher,
good and choice kinds selling for
$1,000 to $11. Cattle receipts were
700; calves, 600.
Lambs we're steady to 25 cents
higher in the sheep market. Bulk
of better grade ewes and wetherS
sold for $3.50 to 1925. Bucks were
available at a discount of so cents
to ST.. Slaughter sheep made the
market at So to 81. Receipts were
1900.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
Market Price
ELECTION CAMPAIGNS
INFLUENCE MINIMIZED
Disturbance to Business Untrue on
Record, Study Points Out.
Times Special

WCS NpCCldt
NEW YORK, Oct 24-Despite the
common assumption that presiden-
tial elections prove disturbing to
business and markets, an eXamina-
ton of records of the last 10 cam
paigns discloses little evidence to
support this view, according to a sur
vey isCued today by Frazier, Jelke
e. Co
In the presidential election years
since 1884 the stock market has adj
vanced nine times and declined four,
while business has shown a rising
tendency in six years and has de-
clined in seven. In two of the seven
years Of recession, however, improve
ment began after the mid-year po-
litical conventions.
Prior to the conventions stocks
have declined in nine of the IS
years, while in the months following
conventions markets have advanced
IN all but two campaigns-the eX-
ceptions being in 1900 and 1920,
both Republican years.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
TAX REVENUES
TOP ESTIMATE,
TREASURY SAYS
All Collections, Other Than
Processing Levy, Rum
ming Ahead.

-
WASHINGTON, Oct. 24.-Gov-
eminent tax collections. other than
processing taxes, are running slight
Iy above estimates, Secretary OF
Treasury Henry Morgenthau Jr.,
said today.
Remarking that tax collections
are encouraging, the Treasury
head said all collections other than
processing taxes rose to 1904. 6l5 900
in the three months ended Sept. 30.
from S68l 100000 in the first quarter
of the previous fiscal year, a gain of
Is per cent.
a large part of the gains, how
ever, were erased by the sweeping
decline in processing tax collections
in anticipation of the Supreme
Court battle over their constitutions
atty. For the three months to Sept.
30. Mr. Morgenthau said, processing
tax collections dropped $50, 900 900
under a year ago.
He said S61 100000 had been i'm
pounded by the courts pending
test on the law.
The Secretary said that the
Treasury had made no plans to
recommend new taxes in the next
session of Congress should process
ing tax collections be invalidated
President Roosevelt has warned
that new tax sources would have TO
be found if the processing tax COL
lectionS were cut off.
Questioned as to charges by for
mer Budget Director Louis w.
Douglas that the government was
rigging the bond market" Secre-
tary Morgenthau said they weren't
worth answering"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
CRv Irnitnd pressA

CHICAGO. Oct. Eggs-Market. I'M
settled, receipts, 1862 cases. Fresh Graded
t1rStS, 25c, current receipts 25d &c: dir
ties goa 24c checks. l9a CSC Butter -
Market, steady; receipts, 1916 tubs EN-
ira firSts t9o-9li : -score) ara 27l4c; eX-
tra5 (92 score, 2724c firsts $3.50 ,
scor1l. 25a4 @26i2c: seconds C86-S7ia score,
q i2625c; special, 2Si4@2Sa4c: standards.
q &C. Poultry-Market steady: receipts,
IS trucks. l car due Ducks. 15dl7c; geese.
l5c; spring chickens, l6G coo; hens, ia
zoe; turkeys, l6@ 22c leghorn hens. Tia
lac: old ROSTERS, 15c. Cheese-Twins
1594Glec: daisies 1855 Gl6l2c: longhorns.
l6i 4c0l6isc. Potatoes-Supply liberal:
rusSet burbank demand moderate; mar
ket firm; northern stock demand light.
trading slow: market. firm on best north
ern and Colorado stock Idaho rLssets,
1850 LOO; commercials. 81 20dl.25. Wis
corSln round whites. S5c. commercials. 75c.
"a cohblevS, % 29S: commercials. s2iaT
S5c Red River Ohios soc: commercials.
lom soc, Minnesota cobblers, S5c. Colorado
McClureS 81 o2i,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
CUT RATE DEALS END
IN MORTGAGE BONDS
Few Offerings Now in Market, New
York Dealers Report.


NEW YORK, Oct. 24-The cut
rate" market for guaranteed
mortgage certificates has virtually
vanished since the Mortgage Com
mission of the State of New York
has been in operation, it was dis
closed today.
A survey by the commission dis
closed that brokers report that it
was not a bid" market, with little
or nothing offered; in other words,
people are trying to buy certificates
and holders were not interested in
preSenS offers.
With the Mortgage Commission
in control, holders of guaranteed
mortgage certificates have conf
dence in the future of their invest
mentS and are not disposed to offer
them at prices ridiculously below
their real WORTH" the survey stated.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
Produce Mmkets

The prices quoted below are paid for
stock gathered in the country. while de-
livered in Indianapolis the price will be
| cent higher: Heavy breed hens. Ice;
Az lbs. Ice; under Az lbs. 15c; old
cocks. Sc; Leghorn broilers IL lbs and
up. l2c; Leghorn springers, 12c; ducks,
White, lbs. and up. SC. geese. full feath-
cred and fat, &C; old guineaS, I5c; Young
guineaS. IL lbs. mp. 25c; No / strictly
fresh eggs. loss off CSC; pullet eggs. l8c
Each fun case must weigh SIS lbs gross.
deduction of loo pound under SIS lbs.
Will Be made. Butter. No. I. 3Iie a So &c:
hutterfat; No. l. Csc; No. 2 CSC. Quoted
by the Wadley Co
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
FRUITS AND VEGETABLES
'hy united Press

CHICAGO, Oct. 24-Apples-Michigs
bushel. wealthies 400 Soc Carrots
Illinois, bushel. 25d35c, Sweet Potatoes
bushel t2d32s cabbage-6o~7 o-lb crates,
b0d Csc. Peas-California. bushel hamp-
ers ss35M32S. Tomatoes-California
Tugs. si.25Ql.75 Spinach--Illinois. bushel
SOC 60c. Lettuce-Western crates, 5 doz
S2.25I 20. Cucumbers-Louisville. bushel
SlW225. Celery-Michigsn crates siG
$3.50 Pesrs-Michigan. bushel 81 25 Al. rs
O1naiSons-oo-!n SACKS, western Valencias s5
CLASSIFIED, T5G77kc.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
REICH OUTPUT LOWER

IWtN y VtJFII
BERLIN, Oct. 24.-Pig iron out
put in Germany in September
totaled 1,l12,6oo tons, compared with
liza, 900 in August. it was reported
today Steel production amounted
to l,378,l00 tons, against 1866 in
the previous month.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
Other livestock
(By United Press)

CLEVELAND. Oct 24-Cattle- Receipts,
225 market. steady; choice TO prime steers,
1850 lbs. and up. s110 70 rs; choice 750-
100 lbs, s100 50; good grass cattle.
STA $50. Calyes-Receipts. 400. market.
strong: prime veals $40 50N1150; choice
yeals 50 .50G1O. 50. Sheep and lambs 1900
Is cents lower choice lambs. s9d95o
good. s5d9. Hogs-Receipts 1900. Is cents
lower; 250-300 lbs. SO 50N IS 220-250 lbs
$500; 180-220 lbs 50 30: l50-l90 lbs. 50 90
pigs, 15o-l30 lbs $3.50.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
SKILLED LABOR
DEARTH STORY
HELD UNSOUND
Few Lines in Certain Areas
Are Affected by This
Condition.
BY JOHN T. FLYNN
Times Special Writer

NEW YORK, Oct. PA charac-
teristic of a time like this, when
every one is weary of waiting for
the dawn, is the persistent appear
ances Of those unreliable barometers
-straws in the wind. One hears all
sorts Of tales as evidences Of return
ing prosperity.
one frequently heard story is that
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
Other livestock
lBY United PreSSl

. CHICAGO n Oct; Hogs-Receipts.
DAYS average az top ss8s ! buR i8o25o
lbs. So 65@98o; few 2eo-3oo lbs, $3.50
s6o m 2s5e so SFsde 5S8 P Best
Cattle-Receipts, 5000; calves. 1900; good
and choice fec, steers, and yearlngs strong
to Is cents higher although moderate hold
crop; best $3.50 all grades. light cattle
nd medium gTaaa a Washv XII Kinds o%
steady, general undertone on all classes
more dependable. than Wednesday; stock
the Week: ' fairly active at ss.5o SS sheep
Receipts, 5000; fat lambs active, bids
and sales fully steady. to strong; sheep
lambs. s8.75@9 freely: few best lots held
1918 and above; good comebacks. 1913.
Native ewes S3@4 mostly; des "a feed
choice range feeders scarce.
FORT WAYNE, Oct. -Hogs-2OG25c
sa45 10000 lbs 5000 bs %
24o-2So lbs, s9.o5 10000 lbs s895: 300
i5 rs s. 90 Isoi4o iss. -" So 1880 i6s
$3.50; 11o-120 lbs. sa.5o; 10o-1l0 lbs, So 30;
roughs, $S.25.
~ LAFAYETTE E (. Oct; 24;-Hogsa., Ma5ket
2 2 55 lbs SO 4Ga $50 2so5225 lbs s. .
NS0o, I4U-li ~ IDS, 500 q sou; 12O-l40
lbs. ss.75d9; 10O-12o los, s825@ $50
roughs, 1915 down. calves $40 down
lambs, 1925 down.
BY Times SpecaD
LOUISVILLE. Oct. 24-CattIe-Receipts
400; salable supply slaughter cattle light
demand fairly broad for all classes
market moderately active fully steady
early; bulk common to medium grade
light grass steers and heifers. SIS 25M725;
better finished kinds scarce, duotable to
around SO: bulk grassy beef COWS. s425G
5.25; practical top around s5.75: most low
cutters and cutters. s3.25d4; thin Shelly
low. cutters down to So or less: bulk sausage
bulls s4.256 5.25: most light beef type
stockers and stock calves. s6.5OH850:
native feeding steers. s5.50m7 so: inferior
to common light southern dairvbred stock
ers. s4M5. Calves-Receipts. 325: includ-
ing $50 stock salves: vealers mostly soc
higher: bulk good 20 choice grades s9d
10; medium and lower grades including
heavy grass calves mainly $3.50 down to
around S. Hog@Receipts 400 market
lbs. 50 SIS: 1925 lbs s915: 900 lbs. up
So IS: 16o-175 lbs. SO IS; 140-f55 lbs. So 80:
12o-l35 lbs. s7.35: sows. $3.50. Sheep
REGENTS. $50: lambs in very light supply
demand dependab bic. market generally
steady; most better lambs. s5G525: choice
scarce and nuotable higher; palmer grade
lambs includign bucks mostly IS 50T725:
light culls down to s4 bulk fat ewes.
So so down
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24

a shortage in
skilled labor has
developed. 1t is
difficult for peo-
pie to believe
that with ten
million men idle
there can be a
shortage of any
kind of labor. 1t
is entirely pos
sible that short
ages of skilled
labor may have
developed in Ger
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
NeU York Curb
COAST OIL FLOW CUT
icy Abbott, Proctor & Painel

LOS ANGELES, Oct. 24.-Cali-
fornia crude oil output last week
averaged $4,000 barrels daily,
against 644,270 in the previous week,
it was reported here today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
SHEEP AND LAMBS
-Peceintc 1000-

choice ............9...... 85O0 925
Medium NEUTRALITY-SUSPICIOUS.. 6.750 $50
Ewes
t90-125l Good and choice 49,. 3009 400
All weights. common and me-
dunn ....................... 2.506 $50
C20-l50l Good and choice :. 2.00Q 800
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
RUBBER EXPORT TAX UP

AMSTERDAM, Oct. 24.-The
Dutch-Indian export duty on native
rubber today was raised 4 cent to
a level of 1919 Dutch cents a pound
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24

IbY United Pressl
WASHINGTON Oct 24.-Government
expenses and receipts for the current
fiscal year to Oct % as compared with
year ago;
This Year. Last Year
Expenses So. 456 633. 275l1 S2O59 $50. $50 co
Receipts 1.172, 3j6. 98S49 l165. 97S. 726. II
Deficit &C.. 1924 266 266 Sc S93. 671 1923 SO
Cash bal 1,494 400, 497.33 $40 $50, 668 So
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
TN addition to the $7OOoooo owed

TN addition to the 100000 owed
II to the RFC and the Railroad
Credit Corp, the New Haven is in
debted to banks to the extent of
approximately $16,0OO,OO0 and owes
the Public Works Administration
$6,777, 900 more. Add this to the
many millions represented in out
standing bond issues and the debt
situation of the road assumes
prominence.
Miscellaneous outstanding secur-
tiles Of the New Haven have been
depressed for some time as is
shown in their current market
values.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
DEPT. STORE SALES
Ne70 York Stock Exchange Prices
BIC IRON PRODUCTION

Y $ Rubber I47s I434 I4zs 1924
U Rubber pfd. S91a 1924 s87s 1874
Miscellaneous
Alis Chalmers 32la 317s 1924 31as
Am Can ..... .14712 1862 146i2 1872
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
Chicago Grain Futures
LOCAL CASH MARKET
By United Press

City grain elevators are paving 90 cents
for No. soft wheat. Other grades on
their merits. Cash corn No. yellow II
cents and oats q cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
FURTHER CAIN
FOR BUSINESS
HELD POSSIBLE
Economist Cites Retarding
Influences, but Finds
Position Strong.
BY A. L. JACKSON
Economics statistics, Inc.


NEW YORK, oct. 24.-With only
minor Interruptions, business activity
has been rising since September,
1884. There was slight reaction
during the summer months of 1885,
but in the past three months bust
ness has resumed its upward trend
and new high for the recovery
period was again established last
week.
There are a number of beariSh
implications in the present business
situation. These factors are prin-
cipally based upon fear, caused by
such uncertainties as war, the effect
which might result from any deci-
sionS made against the New Deal
measures by the supreme Court, the
continuation of large government
deficits, etc.
A war involving nations such as
England and France or the rest of
the large European powers would
adversely affect business in this
country. However, as long as war
remains a localized affair between
Italy and Ethiopia, American bust
ness will not be handicapped to any
material degree. Naturally, the un-
certainty that is caused by the
probability of war between the
more important powers will prevent
business from recovering as rapidly
as it might otherwise.
Basic Factors Favorable
Regarding the New Deal measures,
1t is my opinion that should all of
those measures be declared uncon-
stltutlonal, business prospects would
be improved. There might be q
psychological reaction, but this
would be temporary and of little
Importance.
The basic forces underlying he
various industries and commodities
affected by the New Deal are
unusually favorable at present anc
would be much more effective in re-
storing normal business conditions
IN the nation, should there be no re-
Strlctlons similar to the AAA, the
Guffey Coal Act, etc.
1t is true that in time the huge
budget deficits incurred by the pres
ent administration will have to be
met. This debt can be met either BY
increased taxation or by initiation
and reputation.
For political reasons, higher take.
IN the immediate future are moi
probable. On the other hand, the
tear of imitation will be with us con.
stantly. This fear will act merely
as an additional stimulus to bust.
ness for a few months at least. From
the long range point of view this
factor is very dangerous indeed.
Statistical Position Cited
According to statistical compila
ton, demand has been exceeding
new supply since September, 1884
oCoSho VI UOGll raw ana I0lSneC
goods have been reduced to the
lowest level recorded since January
1928.
With that exception, stocks are
now at the lowest since 1925. Com
modify prices have been increasing
steadily Never in the past have
these basic forces been more favor
able for rise in productive activity
than they are at present.
These factors, combined with the
favorable outlook for agriculture
purchasing power, indicate that
both production and sales will con-
tinue upwards with only minor in
terruDtions for several months.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
SOybean Exports Soar

Chicago merchants are exporting Soybenns at the
heorjest pace in history spprred By the record crop
this gear. It is estimated that more than 100000
bushels hare been sold for export IN the last lceek
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
FIRE INSURANCE
Aetna Fire
Money and Exchange
TREASURY STATEMENT
tBv Blyth s. CO..
NEW NnRI. nANt- CrA-

INDIANAPOLIS STATEMENT
Clearings ............ ....S So. 237 600
Deolts ACKNOWLEDGEMENTS. 5,766, 900
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24
Trends
New Haven Denied
$1,000, 900 Loan
From RFC.
by VINCENT LYONS.
Times Financial Editor

IT isn't often that the Interstate
u Commerce Commission exer-
cises its prerogative, under Recon-
struction Finance Corp. regula-
tons, to refuse sanction of a loan
from the RFC TO an individual
railroad company. Consequently,
this very action in connection with
the application of the New York,
New Haven e. Hartford Railroad
is causing comment in financial
circles
A fortnight ago the carrier asked
the ICC for permission for a S.
100000 loan from the RFC. Ex-
tension Of help from the govern
ment agency, 1t was stated, would
allow the New Haven to meet taxes
and principal and interest on
equipment trust obligations which
fall due at the end of the year.
We conclude" the ICC said in
refusing the &equest, that the
present and prospective earning
power Of the applicant and the Sc
curity offered as a pledge for the
requested loan, are not such as to
afford reasonable assurance Of its
ability to repay the loan"
THE significance of the ICES
u action, outside Of the result
ant filing Of a petition for reorga-
nization by the road, lies in the
fact that it was the first time since
the establishment of the RFC that
the regulatory agency for the rail-
roads, in a formal opinion, had
thrown out a request of a major
carrier for financial assistance.
Several other roads, however, have
in the past received informal no.
tiflcation that their bids for loans
were refused.
In view Of this some people are
wondering whether the ICC action
means that it is going to revise its
attitude toward the entire question
OF railroad assistance. on the basis
of the terse comment Which &C
Companied the commission an
nounCement it might be inferred
that further RFC loans will be de-
termined strictly on their merits
Thus, government aid may be given
only after the same tests are APP
piled as would be applied by a
private banking house.
Security offered for the requested
$5,000000 loan consisted Of equity
in stocks and bonds hypothecated
with the RFC and the Railroad
Credit Corp. for credits aggregatiny
more than $7000,000 Therefore. as
the collateral had already been
pledged for other indebtedness
there would be little real security
behind the new loan, as the ICC
intimated
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-24

Am Brake Shoe
Am Car g. Fdy.
Am Steel Fdv =.
Bald Loco 49,.
Gen Am TX Car
Gen Elec .....
Pullman Inc 800.
west Air Br
WeStingh Elec