davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-03
BOSTON EDISON
TO INVITE BIDS
ON BOND ISSUE
Holders to Vote on Proposal
by Board for Competition
in S53,OOO,OOO Offering.
BIZ Times Special

BIZ Times Special
NEW YORK. May 3.-The present
receptive investment market eager
to accept coupon rates that would
have been frowned upon a few years
ago, promises something of a novelty
in Massachusetts, utility corporation
financing in the case of Edison Elec-
trio Illuminating Co. of Boston.
If the stockholders approve the
recommendation Of the directors,
banking SyndicateS will be invited to
bid for a S53,OOO,OOO first mortgage
issue. thus departing from the more
familiar method of banking ar
rangements.
Issuance Of mortgage bonds by
Massachusetts utilities went out of
general vogue quite a few years ago,
largely because the State law made
it necessary in such financing to
call for bids, rather than effect a
deal with selected bankers. Issu-
ance of coupon notes was substi-
tuted for mortgage bonds.
Gains Advantages
The Boston utility now would
gain several advantages from a
mortgage issue. in the opinion of
| investment men. It probably would
enable long-term issue that would
be legal for savings banks in Massa-
chusetts, whereas only short-term
notes enjoy that feature.
Also, the investment market has
demonstrated in some recent in
stances that competitive bidding
produces some highly favorable re-
suits for the borrower, due to keen
rivalry for undertakings
The proceeds of the issue, if ap-
proved by the stockholders and al
lowed by the State Department of
Public Utilities, would be used, with
cash on hand, to retire SIS, 900 900
of coupon notes due July 16, 1887
and Nov 2, 1887.
Varied Reactions
Bond men were of varied opinions
in seeking to interpret the effect of
President RooSevelt's discussion of
the holding company bill, due to his
use Of the word unnecessary"
The Presidents qualification was
received in many quarters as a dis
tinct concession, since he adopted
the policy of seeking elimination of
only unnecessary" holding COM
panies. The term was admitted to
be of broad Interpretation, however.
and one bond man compared it to
the word reasonable" which has
been a source of judicial interpreta-
ton for many decades.
Holding companies are expected
to enter into a spirited move to
demonstrate that they are neces-
sary, or at least not unnecessary.
Investors in the meantime are liable
to make mistakes in their individual
indexing, bond executives observe.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-03
Lower Trend Seen

Steel ingot production showed a
further small gain last week. Pro-
duction registered 44.6 per cent of
capacity, compared with A per
cent of capacity in the preceding
week. This gain was slightly great
er than seasonal, our adjusted index
rising to 1915 per cent from 1872 per
cent. Carloadings showed a small
gain over the preceding week, but
this was due mainly to the increase
in coal shipments and is not par
ticularly significant. Bituminous
coal production also snapped back
last week, but our seasonalIy ad-
justed index continued to decline.
However, the decline was greater
than is seasonally normal, and our
adjusted index decline to 1873 per
cent from 86.8 per cent. The de-
cline in cotton forwardingS was
about equal to seasonal proportions.
On balance, it seems that business
activity as whole showed very lit
tie change. The reaction that is ex-
pected to take place in the automo-
bile industry and the adverse effect
that this will have upon allied in
duStrieS should cause business to
decline during the next two months.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-03
FILENE'S CALLS STOCK

BOSTON, May 3.-Directors of
William Filene's Sons Co. today
voted to call on July /, at $110
share. one-fifth of the outstanding
1896 shares Of the 61s per cent pre-
ferred stock of the company.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-03

WASHINGTON. May 3-Government ex-
penses and receipts for the current fiscal
year to May l. compared with the cor
responding period of the previous fiscal
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-03

obviously TO make the headlines. If
the president of a company wants
10 make a statement to the public,
let him do it in the regular way.
Yet him present his arguments for
or against legislation, practices or
policies, where these statements
should be made"
This department can not string
along entirely with the Printers
Ink editor. The annual report Of
a company, it believes, is a fitting
place for the head of a company
to discuss any subject he may re-
gard as being of vital interest to
the stockholders of that company.
He has been placed in charge-at
least it is supposed that he has
because shareholders have conf
dence in his ability, his judgment
and his integrity. Consequently,
his opinions should be of interest
to them.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-03

A ND on occasion developments
L n entirely outside the realm Of
the company's operations may have
q very important bearing on the
future of that company. In such
instances the chief executive should
be not only permitted but expected
to discuss them. The present utility
situation is a case in point. The
pending utility legislation is Of the
highest Importance to the stock
holders of the holding companies,
at least. 1t provides for the elimi-
nation of such companies. The last
years earnings results are minute
in comparison.
Proponents Of this legislation
quite naturally would be expected
to present all of the arguments in
favor of it. They would hardly be
expected to point out its weak
neSSeS, if any. Consequently, if the
heads Of these companies did not
discuss the other side, stockholders
would be likely to hear but one
sided argument, which could well
be misleading.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-03

Tomorrow-An SOS to private
capital.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-03
Chicago Stocks
NelO York Curb

OBJ Abbott. Proctor & Paine).
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-03

Quotations below are average wholesale
prices being offered to buyers by local
St. Croix tribune. [volume] (Christiansted, St. Croix, V.I.) 1922-1937, 1935-07-05
Random Notes

3The Governor of Georgia has denounced
the Roose welt admins ration. There were
mass meetings in Georgia where the
Roosevelt Government was labelled az
wild dreams of communism and social
ism. The Governor worked for Roosevelt
in 1882
News from Washington this morning
tells Of President Hoover's activity
against Roosevelt's program which he
said was being carried on at the expense
of liberty. He SAID that ibartv AMI per-
sona rights were being attacked over
the world where dlctators are rising
10. M. Hoover empha.ized that people
are.never safe under spotism.
The S.. Catherine is arriving at
Christiapsted this afternoon at or about
4 90 o. N. with large general cargo, and
45 Excursionists. she sails for Fredsr-
lksted on Saturday morning and for ST..
St. Croix tribune. [volume] (Christiansted, St. Croix, V.I.) 1922-1937, 1935-07-05
Friday, JAY 9Th 1898
The Races

y Thousands of peoplewere on the Man
nings Bay Race Course yesterday.
The weather was ideal and there was
q general spirit of happiness. The ground
was inbettershape thanon previous races
the grass was clipped low. and the new
Judges stand is an imposing strut ure
compared with what it used TO be. The
stew ards and ground committee did ex.
cellent work leaving little if any chance
for those who would enter the grounds
without payinga the entrance fees.
-. The Presidential the Club, DR.. Cane.
rata being absent from the islands the
President Attorney r. H. Leader
assumed the duties of that office.
The first race. Manning Bay Purse
was won by the White Horse Stables Bay
stallion Shamrock of St. Thomas.
Bone Dice running second.
The second race. New Deal Stake
was won by Juhn Alexander's chest
nut stallion. Santa Cruz. The losing
horse IN this race wash H. Mackay's chest
nut gelding Flexmore.
The third race, Holiday Stakes prom
isedto be the most interesting. Mackay's
fine grey gelding The White Shadow"
against the St. Thomas chestnut stall.
lion Rob Roy" Men and women dug
deep into their pocketsto bet on these
horses. The Cruzlans felt that the race
would go to The White Shadow and
as a matter of principle the ST. Ihomians
refused no challenge when it came to
betting on the St. Thomas horse. Hearts
beat loud enough to be heard when the
starter gave tht signal. The White Sha-
dov's jockey whipped him He either
got nervous or mad and ran off the
course. Rob Roy continued and went
around the course. When the judges
decided that Rob Roy was the winners.
mems eyes grew moist. The winner
had no smercy. like SO many Shytocks
St. Croix tribune. [volume] (Christiansted, St. Croix, V.I.) 1922-1937, 1935-07-05

they demanded the greenbacks from
those who had bet on The White Sha
dow. If rne White Shadow had
tried and lost the boys would have
been bette; losers. fortunately nothing
happened like the Yates-Rooert Allen
scene in the streets atWashington.
A change in the program brought on
the Thoroughbred's race.
o. Baa's bay stallion 'OAkI and" easily
whipped the st. Croix Synd,cates dark
bay stallion "Cocktal''. This morse is
very laraeanj should not have been In the
race.
''Fhe White Shadow" Won in the of
fical stake. a. NethropD's hay stallion
Capt, I running second.
The independence Purse was won by
Oakland. Ho was matched against
John Alexander's Admiral Kempff
horse in lower class than Oakland.
In the Maiden Stakes Capt. |" was
the winner and In the Gentleme1'S Race
Mr.. Boyd Prown. President of the Vir'
gin Islands Company cana in ahead Of
the other boys.
St. Croix tribune. [volume] (Christiansted, St. Croix, V.I.) 1922-1937, 1935-07-05
Christiansted Theatre
Sunday Night
WONDER BAR
S.45

ENTERPRISE UNDER THE SUM-
Warner
Stars Wonder Snow the
in
sngngn
in
and HERBERT
roy IAN AM
time
this
"WONDRR
0forkn
Evening star., 1935-02-21

Portugal Is decreasing its public
debt.
Evening star., 1935-02-21

countries were preparing to bring suit
before the International Court" to
"evade" the Supreme Court decision
by demanding damages for their
American security holders.
eff these nations undertake such Q
course" he asserted, "I will propose
that Congress pass an act to seize all
the income from every American Sc
c,lrity held abroad in these countries
and apply 1t on the war debts"
This moved Glass to wonder what
our foreign debtors will think Of the
measure of our sincerity in reproach-
ing them for repudiating their in
debtedness when Congress has re-
pudiated the most sacred indebtedness
that any nation on earth ever in
CURED, the indebtedness incurred to
fight the last war"
Thomas replied that the Govern
ment issued $4,000, 100000 Of gold
bonds during the war when 1t knew
there wasn't that much monetary
gold in the entire world.
"Of course" Glass retorted, "when
we incurred that debt we did 1t on
the established theory that our bank
ing experience Of $50 years had
taught. that only per cent of gold
redemption fund was required to re-
deem the bonds.
mo sane person ever imagined that
all the bonds would become due at
i once. Therefore, reasoning that there
was not enough gold in the world is,
! I say without offense to any Senator,
fanciful.
"At the time we issued the bonds
we didn't have half as much gold as
now when we have repudiated."
Senator Gore remarked that the
Nation has total debts Of about $780,
900, 100000 and only about $780,
600, 900 of currency, but that did not
mean the debts could not be paid.
| He told a story Of clown who stood
in a circle with 10 others, found a
silver dollar in his pocket and passed
| it to the next man to whom he owed
So. The same thing happened all the
way around the circle, and the dollar
came back to the clown. He passed it
| on again and the dollar went around
again.
Then they found" Gore added,
"that $40 in debts had been paid in a
single minute with only one dishonored
| silver dollar"
Evening star., 1935-02-21

was gradually losing its effectiveness
because of inability to enforce its de-
cisions. The situation, he added, lis
reducing section (A) to q sham and
q delusion."
"The consequences" Wagner con-
tinued, ARE already visible In the
widening gap between wages and pro-
fits. II these consequences are al
lowed to produce their full harvest,
the whole country will suffer from q
new economic decline"
Evening star., 1935-02-21

pitals If they knew that this is the
end Of their deprival.
as. We can get in appearance q
false prosperity out of imitation. There
Is much imitation poison in the ma
tional blood. Through the combined
effect Of the devaluation, expanded
bank deposits through Government
borrowing, and the Federal Reserve
credit policies, the fever may grow at
any time. There is no real recovery
on imitation medicine. If the cur
rency were made convertible 1t would
tend to check imitation, replace re-
lief with real employment and con-
tribute materially to a general re-
covery."
Silent Since March 4, 1888.
In his comment OH the Supreme
Courts gold clause decision, Mr..
Hoover broke his consistent policy Of
refusing to express his opinion upon
political matters-a policy he began
when he left the presidency March 4,
1888. AS recently as Monday he de-
clined to comment on the gold deci-
sion with his habitual remark, II
am no longer IN public life"
His departure from his usual GUS
tom came as he returned with his son
Allan, from a visit to New York.
While he repeatedly disclaimed po-
litical implications. the titular chief
of the Republican party was never
theless greeted all along his route by
political allies and former officials.
Unanimous on U. S. Bonds.
All members of the court, he COM
mented, agreed the Government
acted unconStitutionally in repudia-
ton of the covenant on its own
bonds" although a majority held the
private citizen has no remedy"
That will have long moral conse-
quences," he said, but whatever the
morals. right or wrong, of the de-
valuation may be, the face of the
American people must be forward.
The need and the opportunity now
is to restore confidence in the dollar.
All threat of further devalua-
ton should now be removed. To do
this and to give a needed contribu-
ton to real recovery. the dollar should
Immediately be made convertible at
the present 50 cents of gold, making
it payable in gold bullion"
COL. ROOSEVELT AGREES.
Evening star., 1935-02-21
CHANGE IN TRAFFIC.
DIRECTION SOUGHT
Dah|gren Citizens Urge
Abolition of Director.
Gas Rates Hit.
Abolition of the post of director Q

Abolition of the post of director of
traffic was requested last night BY the
Dahlgren Terrace Citizens Associ-
alton In q formal resolution.
The association contended the d.
rection of traffic could better be
handled by the Police Department,
and called upon the Commissioners
to make the change.
Lower gas rates were requested in
another resolution. which also asked
an investigation Of the Washington
and Georgetown Gas Light Companies
to determine the amount and cost of
natural gas being piped into the Dis
trict.
The proposal of the Consumers
Advisory Council for creation of
municipally-owned milk pasteuriza-
ton and bottling plant. to enable milk
to be sold at 8 cents O quart retail,
was attacked by the association. which
passed q resolution opposing the
scheme.
Other resolutions urged abolition
Of hidden bars. opposed legalization
of gambling, asked extension of South
Dakota avenue, from Takoma Park to
Rhode Island avenue northeast, and
extension of Seventeenth street. from
Bladensburg to Benning roads; re-
affirmed the aeociation's stand that
the District budget should not pass
through the Budget Bureau, demand
ing new street car equipment on the
Rhode Island avenue and Brookland
lines to replace the "ash-heap cars
with fiat wheels" now In service, and
requested the Public Utilities Com
mission to see to it that busses now
serving the territory be fixed SO as
to prevent gasoline fumes from af-
fecting passengers.
Evening star., 1935-02-21

Air Subsidies Talked.
England may increase its civil avi-
alton subsidies.
Evening star., 1935-02-21
j. s. GOLD RETURN
URGED BY HOOVER
Breaks TWo.Year Silence
to Propose Step for "ReaI
Recovery"
BY the Associated Press.

6y tne ASSOClateQ FreSS.
TUCSON, Ariz, February 21-
Smashing his self-established prece-
dent of silence as private citizen" +"
former President Herbert Hoover
urges re-establishment of the gold
standard to restore confidence in
our currency" as a needed contribu-
tion to real recovery"
If the dollar were made convertible
ut the present SO cents Of gold, he
said in a prepared statement here
last night, "it would tend to check
imitation. replace relief with real en-
ployment, and contribute materially
to general recovery"
Five Reasons Listed.
There are "flve compelling reasons"
for returning to the gold standard,
Mr.. Hoover said in his statement,
listing them as follows:
81. It would put more men to work
out of the 100000 who still remain
unemployed than any other single
action Unemployment rests today
largely in the capital goods or ccn-
struction industries. These industries
are dependent largely upon long term
capital. The people are hesitant to
invest their, savings and take long
term risks because there is uncer-
tainty in what value they will be re-
paid.
20. The Governments program OF
stimulating the capital goods and CIV
ing employment through publiI works
can never result in 25 per cent of the
iobe u,bich rop ho Y,roxyidod hy reroy-
cry of normal private capital goods
activities. The otherwise inevitable
budget deficits imply either impover-
ishing taxation or more devaluation
or imitation. A convertible gold cur
rency now would help avoid all these
by aiding to restore employment: and
decrease the need for relief.
'3. The devaluation which has
already taken place has shown and
will show in still higher costs of
living 1t affects every wage and
salary Garner. Surely, a so per cent
cost of living increase, already now
in prospect, should be enough with
out further increase beyond that level
Aim to Reduce Debts.
"a. One of the declared purposes
Of devaluation was to, in effect. write
down debts by increasing prices
Surely the debtotrs, who include hold
ers of common stock and equities in
real property, have secured enough
If they get Al per cent reduction
The creditors, who in the modern
world include every holder of life
insurance policy. or savings bank
deposit, a veterans certificate and
every holder of bond or a mortgage,
deserve some consideration. It woulo
be boon to these If they were as
sured through immediate converti-
bility that they would not suffer any
further. 1t would be a boon to our
great endowed universities and hos.
Evening star., 1935-02-21
MUSICALE PLANNED

Harp Concert to Benefit George
town Convent.
A musicale .or the benefit Of the
Georgetown Visitation Convent will
be given at the home Of Mrs. Joseph
Letter, 1900 New Hampshire avenue,
Tuesday at 4 o'clock. under the spon-
sorship of the converts alumnae.
The alumnae and Mrs. Letter will
present Nine. Edythe Marmion
Brosius in a harp concert and the
funds raised will be used to complete
the north wing of the gymnasium
erected by the alumnae and opened
for the first time on January o.
Evening star., 1935-02-21
INVESTIGATOR NAMED
Former Representative James
Given House Committee Post.

Chairman McSwain of the House
Military Affairs Committee today an
nounced that former Representative
w. Frank James of Michigan has been
appointed special investigator for the
committee.
James for more than 20 years was
q member of the House and several
times served as acting chairman of
the Military Affairs Committee
Evening star., 1935-02-21
Backs Hoover Statement on Restoring
Confidence.

NEW YORK, February q (P)-Col
Theodore Roosevelt, president of the
National Republican Club, agreed
most heartily" today with former
President Herbert Hoover's assertion
that the gold standard should be re-
established TO restore confidence in
our currency"
Commenting on Hoover's statement
made yesterday at Tucson, Ariz., Col.
Roosevelt demanded adoption of plans
to balance our budget and discontinue
this scandalous squandering of public
money
He urged cash relief for recovery
rather than the present public works
program.
Evening star., 1935-02-21
ASSAULT Is DENIED
N. r. A. Clerk Demands Jury
Trial in Alleged Attack.


David B. Alleman, 900 block Of
Nineteenth street, senior clerk in
the foodstuffs division of the N. r. A.,
pleaded not guilty today before Police
Court Judge John P. Mcmahon to
charge Of assaulting Herbert B.
Bethea, colored elevator operator in
the Barr Building, where Alleman Is
employed. The latter demanded a
jury trial after surrendering himself
in court and was released on $l00
bond.
The elevator operator charges he
was attacked by Alleman after he
carried the latter past his fiocr on
Tuesday and refused to make q spe-
cial trip back, informing the N. r. A.
employe he would have to wait for
the descending trip.
Evening star., 1935-02-21
SENATOR WAGNER
INTRODUCES BILL .
TO BOLSTER LABOR

CONTINUED From First page.)
Evening star., 1935-02-21
DEMOCRATS SPLIT
BY HOOVER PLEA
FOR GOLD RETURN

Continued From First Page.)
Evening star., 1935-02-21
Curley Club to Dine Chaplain.

Rev. Ferdinand ]. Kelly, assistant
pastor at st. Patrick's Church and
spiritual director Of the Curley Club,
will be rendered a testimonial dinner
tonight at the Kennedy-Warren
Apartments in honor of the compile
tion of his first year as chaplain of
the organization.
Evening star., 1935-02-21
SENATOR HEADS SOCIETY
Dieterich Is Reelected by Illinois
Group.

Oleterlcn 4s 6e-elscteo py ILLINOIS
Group.
Senator Dieterich Of Illinois was
reelected president Of the Illinois
State Society for his third consecutive
term at the organizations annual re-
ception and dance for members Of
Congress last night at the Washing
ton Hotel.
Other officers are r. M. Stricklin,
first vice president: Representative
Keller. second vice president; DR..
Charles ]. Schellhorn. third vice
president; Miss Mae Murray, fourth
vice president; ]. B. Woodsade, Sec
retary; Capt. James J. Murphy, treas
urer, and Mrs. Ella T. Rainey, his
torian.
Evening star., 1935-02-21

for the purposes Of collective bargain
ing which shall be the exclusive
representatives Of all the employees"
It provides further, however. that
any individual employe or group Of
employees shall have the right to pre-
sent grievances to their employers
through their own representatives.
The bill would create q permanent
National Labor Relations Board with
power to enforce its findings through
the Federal courts.
Employees would be specifically
given "the right to self organization,
to form, join, or assist labor organ
izations, to bargain collectively
through representatives Of their own
choosing and to engage in concerted
activities for the purpose of collective
bargaining or other mutual aid or
protection"
The bill would make 1t an unfair
labor practice" for an employer to
interfere with, restrain or coerce en-
ployes, to dominate or interfere with
the formation or administration Of
union; to discriminate against union
members, or 10 discharge or diScrim-
mate against an employe because ne
filed charges under the act.
Section 7 (A) History Reviewed.
Reviewing the history of section z
(A), Wagner said under the recovery
act 'industry's freedom Of action has
been encouraged" but "employes at
tempting in good faith to exercise
their liberties under section tA)
have met with repeated rebuffs."
The present Labor Board, he said.
had done q marvellous service" but