davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
BANKING BILL
WILL SHUTTLE
FEDERAL AIDES
Personnel Changes to Occur
in Federal Reserve Board
and FDIC.
ByUnited Press

By United Press
WASHINGTON, July 25.-DraStic
personnel changes in the govern
ment's principal banking agencies
the Federal Reserve Board and the
Federal Deposit Insurance Corp
will be made on passage of the 1885
banking bill, Administration officials
said today.
The Federal Reserve Board will be
shaken up if the bill is passed with
the provision that not more than
four members be of the same politi-
cal party. All six members now in
power are reputed Democrats.
Leo T. Crowley, chairman OF
FDIC, and one of its three directors
will relinquish his post to return to
private business, it is rumored.
Provision Was Opposed
Creation of a bipartisan board
of the Federal Reserve System was
written into the bill over opposition
of many officials. 1t would further
reduce the small number of govern
ment agencies with non-political di-
rection.
The New Deal has been beSet by
important personnel changes in
nearly all its financial agencies be-
cause of deaths and designations
Included were William H. Woodin
Secretary of the Treasury, and Eu-
gene Black, Federal Reserve Board
Governor, both of whom resigned
and later died.
Other designations were Lewis
w. Douglas, director of the budget;
o. M w Sprague, financial adviser
Dean Acheson, assistant Secretary
of the Treasury, and William
Stevenson, chairman of the Home
Owners Loan Corp.
If the new banking bill keeps its
bipartisan Federal Reserve Board
requirements, at least two of the
present board, in addition to the
Secretary of the Treasury and the
controller of the currency, may re-
sign or fail of appointment.
Many Changes Forecast
Among those regarded as almost
certain of reappointment are Gov.
Mariner S. Eccles, Adolph c.
Miller and M. S. Szymczak. Those
believed less secure are j, j. Thorn
as, Charles S. Hamlin and George
r. james.
Many changes are forecast
among the IL regional Federal Re-
serve Banks. The new bill provides
that dual leadership of the banks
be terminated and new position
of president" created as executive
officer of the bank.
At present there are vacancies
in the Craftsmanship of the
Cleveland, Atlanta, Kansas City
and San Francisco bank. None of
these are to be filled, officials said,
until the banking bill is out of
the way.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
Chicago Stocks
(By Abott, Proctor & Paine,
SEC EXTENDS DEADLINE
Over the Counter Dealers Given
Until Oct. to Register.

BY OnItcU PTSSS
WASHINGTON, July 25.-The Sc
curities and Exchange Commission
has extended to Oct. the time un-
der which some $1,000 overtime
counter security dealers must regis
ter with the commission.
Under the securities law overtime
counter dealers must be registered
with the SEC. Less than 5000 ap-
piled for registration prior to the
previous deadline, July 81. The SEC
cautioned that dealers should regis
ter before Sept. l, because a month
is required to complete registration.
This would insure their staying in
business after Oct. l.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
MAKES BIG BOARD BOW

By OntLe0 PFeSS
NEW YORK, July 25.-Trading
began this week in the common
stock of Pacific Fisheries, Inc. on
the New York Stock Exchange. The
issue had previously been listed on
the San Francisco Curb Exchange.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
FARE APPEAL FILED

% y 2 FfFNLW 7 FFhN
WASHINGTON, July 25.-Rail-
roads serving three Southern States
North Carolina, Georgia and
Alabama-and one Western State
Enthusiastically asked the ICC to
extend from Oct. l. 1885, to March
81, 1886, the period in which they
may continue in effect experimental
passenger fares on a low rate
basis,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
(By Blyth & Co, Inc.l
NEW YORK BANK STOCKS
MINTYRE NAMED DIRECTOR

q = fhtte Nutftft
NEW YORK. July 25.-The ap-
pointment OF P z. Mcintyre as
Western traffic manager OF the
Roosevelt-InternGtional Mercantile
Marine Co. with headquarters at
Chicago. was announced at the
companys onices today
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
AAA DECISIONS
NOT TO AFFECT
FARMING INCOME
President Has Authority to
Make Benefit Payments
Under Contracts.

There is no reason to fear that
adverse court decisions on the
processing tax will affect farm in
come during the next IL months,
the Agricultural Outlook declares
today in its monthly resume.
Even If the Supreme Court should
uphold the 2-to-1 decision of the
Federal Court of Appeals of Boston
and hold the entire Agricultural
Adjustment Act unconstitutional, it
is pointed out that would not affect
benefit and rental payments or con-
tracts covering this years produc-
ton.
Are Not Contingent
These contracts" the Outlook
continues, ere not contingent on
collection of processing taxes.
Farmers have carried out or are in
the process of carrying out their
part of the agreements. There is no
question but that the government
will carry out its part make the
payments).
The case is similar to fulfillment
of the governments obligation on
war contracts after the war was
over. 1t is even stronger than that,
for the equity in this case is REIN
forced by the political consequences
that would follow reputation of
these contracts. The President has
authority, even if processing taxes
should be permanently discontinued,
to make benefit and rental pay
ments under present contracts out
of the $4,000, 100000 relief works ap-
preparation.
The case of AAA in the Supreme
Court will be stronger than that of
NRA. It's principal operations are
based on the taxing power of the
Constitution rather than the inter-
state commerce power. Delegation
of authority is much more circum-
Scribed in AAA than in NRA.
Alternative Is Likely
"A large part of the measure of
recovery so far achieved is directly
traceable TO increased farm buying
power. Many powerful influences
will join with farmers in working
out some other method of support
ing farm income in the latter half
of 1886 and 1887 if that becomes
necesss ry.
Rather than worrying about
court decisions, this is a time to
consider the more concrete and i'm
mediate fact of crops and prices
and farm buying. Farm cash in
come of $520,O00,0O0 in May, 1885,
was 10 per cent greater than in May
Of the previous year, and the high
est for that month since 1890. Pros
poets for good crops and relatively
good prices point to a further rise
in farm returns during the next
II months"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25

By United Press
MINNEAPOLIS, Mimi, July 25.-
July wheat bounded up the full s.
cent limit permitted during single
days trading soon after the open
ing here today.
1t was the second consecutive day
that the July delivery has advanced
the full limit in the local market.
The price at the full upturn was
$1.1212 a bushel. Black rust news
and the unsettled technical position
of the market we're responsible for
the major portion of the upturn.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
SENATE BATTLE
ON MONEY AIMS
APPEARS LIKELY
Senator Glass Seen Arrayed
Against Senator Fletcher
in Conflict.
By United Press

By United Press
WASHINGTON, July 25.-A battle
over New Deal monetary principles
appeared probable today as the
Senate prepared to take up the Adj
ministration's bank reform pro-
posals. The situation arrayed IT.
yesr-old Senator Carter Glass, ardent
antagonist of Roosevelt banking
theories, against Senator Duncan U.
Fletcher. 76-year-old chairman of
the banking and currency commits
tee.
The bill has been altered so much
by the Glass subcommittee that iG
bears only a faint resemblance 10
the bill passed by the House. Senator
Fletcher is ready for a fight, either
on the floor or in conference, to re-
store the measure to form mors
in keeping with Administration
ideals.
However, Senator Fletcher said that
in the interest Of speedy considera-
ton he would be ready to defer his
efforts to amend the bill, thus leav-
ing the main battle to be fought
out when the measure goes TO con-
ference.
May Be Tied Up
Majority leader Joseph T. Robins
son said he believed only few days
would be required for the banking
bill. Insurgent Senators were pre-
pared, however, to offer amends
ments which might easily tie the
bill up for a week or more.
InSurgent proposals included:
l. The Nye central bank plan. on
the style advocated by Father
Charles E. Coughlin.
2. The so-called Goldborough pros
posal for a. commodity dollar, de-
sired by farm organizations.
3. Possible silver and bonus
amendments.
Before going on to the banking
bill leaders planned to pass the Sec
ond deficiency bill, last of tha
essential appropriation bills. This
was expected to require but an hour
or two.
House May Recess
The House has put its calendar in
order, leaving only the Guffey coal
control bill and the Roosevelt tax
program as major business. 1t was
believed that three-day recesseS
would soon be in order.
Another problem causing sons
disturbance to Senate leaders was
the resolution banning gold clause
suits. The Banking Committee
planned to meet on the measure
before this, but it. is doubtful if the
Administration has sufficient votes
for a favorable report.
An informal poll of the commit
tee showed a count of to 8 against
the gold clause resolution. Two
Senators were considered doubtful.
A deadlock resulting in report to
the Senate without recommendation
appeared possible. Administration
leaders expect to marshal enough
votes to gain its approval regardless
of the report.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25

LOCAL CASH MARKET
City grain elevators are paying "a cents
for No soft RED wheat. Other grades on
their merits, Cash corn No. 2 yellow.
rs cents and oats u cents
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
SHARP ALIEN BREAK
/. SENDS WHEAT DOWN
Fractional Recession, How
ever, Is Limit of Decline.
By United Press

By United Press
CHICAGO, July 25.-A sharp
break in the Liverpool market over
ruled black rust news as a market
influence today, and wheat prices
dipped on the Board of Trade.
At the start wheat was p to q
cent lower, corn was off u to as
cent, oats we're Il cent lower to Is
cent higher, and rye declined Il to
% cent.
A moderate selling movement
prompted by the lower Liverpool
prices was under way at the start
in spite of continued black rust re-
ports from the Northwest and
Canada.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
MOP Plan VieDed Mean.

The long-a,oaited reorganization plan for the Mis-
souri, Pacific Railroad is virtually completed and VaI
be fled Uith the Interstate Commerce Commission
shortly, according to runors out of ST. Louis.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
Trends
Rumania Devises
New Method to
Aid Exports.
by VINCENT LYONS
Times Financial Editor

TARIFFS oEce loomed large in
Il national political campaigns
with the two major parties tradi-
tionally aligned on opposite sides
Of the fence. Today, sharing the
fate Of so many other early post
war economic levers. they have lost
the capacity to function. Whether
they ever will be restored to their
once lofty estate can only be
guessed.
II the tariff system had nothing
else to recommend 1t, the one thing
which it did contain was relative
simplicity. Current era substitutes
for the tariff are complex creatures.
Foreign trade today is confronted
with exchange restrictions, surtaxes,
quota systems, clearing arrange
ments, reciprocal trade agreements,
etc.
How far the world has moved
away from the orthodox tariff
in the last few years was demon
strated recently when Rumania re-
leased TO a trade-depressed uni
verse several departures from the
stereotyped method which has be-
come popular since the visitation of
the depression.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
U. S. GOVERNMENT BONDS
Libertys

Copyright, 1855, by Standard statistics)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25

IT can readily be seen that the
Il scheme should have a beneficial
effect on the volume of exports Of
the country. After all exports are
the life blood of a country for they
create the foreign exchange with
which nations are enabled to carry
on their commerce. The student
of economies who is wondering
where Rumania will get the money
to substitute these exports will be
answered under the second half Of
the program.
Funds for the payment of the
export premiums will be provided
through the simple expedient of
levying a fiat A per cent tax on
the sum of lei Rumanian cur
rency) paid into the central bank
for the purchase of foreign ex-
change with which to honor i'm
ports into the country. AT first
sight the levy must seem an I'M
mitigated attempt to decimate i'm
ports. But, as a matter of fact,
importers at present must pay in
the open market premiums far in
excess of the "A per cent level fixed
by the government.
So with one fell swoop Rumania
takes control of foreign exchange,
moves to stimulate exports, deter
imports (the latter though can be
questioned by virtue of the fact
that some of the impedimenta
around incoming shipments are
removed, and stabilize its cur
rency. The significance of the
scheme can be read only in the
light of what other nations might
do in retaliation.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
Money and Exchange

INDIANAPOLIS STATEMENT
Clearings Observation-Disclosures. 81, 463, 900
Debts Observation-Disclosures. 5,735, 900
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25

DRIOR to the adoption Of the
l. new system Rumanian bust
ness interests who sold goods
abroad had two outlets for the
foreign currency they received in
return. Part of the proceeds could
be sold in the open market and
part could be sold to the central
bank of the government.
The government, visionary
enough to seek every means of
stimulating its export trade, has
made several Improvements on the
former policy. Under the new ar
rangement the exporter must sell
all foreign exchange received to the
central bank, which will set-up Of
fetal rates for the various cur
rencies and pay a sliding scale Of
premiums.
This sliding scale Of premiums
uncovers the crux of the program.
Exporters of wheat will receive the
maximum premium-4O per cent
under the adopted schedule. Live
stock shipments will net the eX-
porter a 30 per cent premium, pc
troleum shipments 10 per cent and
so on. Moreover, the premiums
will be remilted only when the ex-
ports are to certain preferred GUS
Concentrations.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-25
". Y Bonds

Reprinted From Yesterday
(By Abbott, Proctor 81 Paine)
nAVTv nAN1 r1,x~
Evening star., 1935-10-27
Ogontz Tribute to
Bethesda Girl

Mr.. and Mrs. Karl Corby, of Beth
seda. Md, are in Philadelphia for the
week end. where they attended the
ceremonies, last evening, in connection
with Cap and Gown day at Ogontz
School for Girls. Their daughter, Miss
Mary Ellen Corby, is a member of the
senior class at Ogontz School, and was
one of the girls who took part in last
nights ceremony. Miss Corby has
taken an active part in school affairs
for several years She is the vice
president of the senior class and was
chosen for the honor of occupying the
senior room" at the school, The
senior room award is made by the
members of the preceding class on the
basis of scholarship. personality. and
participation in school affairs. During
her junior year at Ogontz. she was
president of her class. Miss Corby's
father, Mr.. Karl Corby, was honored
at last nights ceremony by being
elected an honorary member Of the
senior class.
Before going to Philadelphia Mr..
Corby spent Saturday attending the
Fathers day exercises at Lawrence
Vile School, Lawrenceville. N. j.,
where his son, Mr.. Karl Corby, jr., Is
a student.
The director of the National Capital
Parks, and Mrs. c. Marshall Finnan
are entertaining number of guests in
their box during the three-day Inter-
American Horse Show, now being held
in Rock Greek Park. Yesterday they
had with them the Assistant Com
missioner of Indian Affairs and Mrs.
William Zimmerman. This afternoon
they will have with them Mr.. and Mrs.
Conrad Wirth and DR.. and Mrs. Roy
L. Sexton. After this afternoons show,
Mr.. and Mrs. Finnan will entertain
theri guests at supper party at their
home in Friendship Heights, Md.
Mr.. and Mrs. A. w. Childs, who
were residents of Somerset. Md, for
several years, are now in Brazil and
are established at Rio de Janiero, to
which post Mr.. Childs was recently
appointed as commercial attache of
the United States Embassy. A letter
from them to friends in Somerset
states they are comfortably settled in
q typical Latin house. Patsy, their
Evening star., 1935-10-27

little daughter, who attended Somer-
set School for several years, is now,
the letter states. attending an Ameri-
can school, but in accordance with
the school laws Of Brazil. she is also
studying Portuguese and French under
local private teachers. Mr.. and Mrs.
Childs had many friends in Washing
ton and the suburban area during
the few years they lived here. Mrs.
Childs took an active part in the life
of the community and was a member
Of the Wednesday Club of Somerset
and the Woman's Club Of Chevy
Chase.
Miss Edar Won L. Fleming,
daughter Of Mr.. and Mrs. Robert L.
Fleming, of Edgemoor. Md, is spend
ing the week end In New York City.
where she attended the velvet ball
given last night at the Waldorf-As
toria. at which Mrs. Franklin D.
Roosevelt was a guest. Miss Fleming,
who will make her debut this year,
is a sophomore at Wellesley College,
oAA Voc 1SSC2iIiy C1CSOC0 cCCICtdIy "a
i1er class. While in New York she
was the guest of her aunt, Mrs. Won
Beust, en- Riverside Drive.
DR.. and Mrs. Paul B. Dunbar, Of
Somerset, were in Baltimore, Wednes-
day. where Dr. Dunbar was one Of
the speakers in connection with the
seventy-fifth anniversary Of the
founding Of st. Marks English
Lutheran Church in that city. DR..
Dunbar's father was a former pastor
of st. Marks Church and DR..
Dunbar was, during his residence in
Baltimore, a member of the church
Sunday school and took an active
part in the affairs of the church.
Mr.. and Mrs. j. F. Barkley, of
Battery Park, Md, will chaperone o
Evening star., 1935-10-27
Historical Evening
In Confederate Hall

The District Of Columbia Division
OF the United Daughters of the Con-
federacy, Mrs. Eugene Barr. president,
will hold an historical meeting on Mon
day at $3.50 pm, in the Confederate
Memorial Hall. 1922 Vermont avenue.
An interesting program has been
arranged, which includes a talk on
the South by a prominent speaker and
a pageant of the State flags by the
Children of the Confederacy. A trio
from American University's Glee Club
also will entertain with several mu-
sical numbers.
Mrs. Charles H. Wagner, division
historian, is chairman of the meeting.
Evening star., 1935-10-27
English Authors
Lecture Sponsored

At a special meeting of the spon-
sors of the lecture on the subject,
Science and the Supernatural" to
be given Tuesday at $3.50 pm. at
the Willard Hotel by the noted English
author and controversialist, DR..
Arnold Lunn, under the auspices of
the Washington Catholic Evidence
Guild. The sponsors are Miss Linda M.
OHara, Miss Mary G. Hawks, Miss
Maria Ewing, Miss Florence Smith,
Miss Ada Murphy, Miss Grace Hines,
Miss Eleanor Crowley, Miss Anna
Ruth Ryan, DR.. Frances Rothert, Miss
Eleanor Carroll, Miss Katherine Rain
sey. Miss Estelle Kearney and Miss
Helen Connolly.
The sponsors have made arrange
ments so that autographed copies of
DR.. Lunn's works may be obtained
after the lecture on the 29th.
Evening star., 1935-10-27

dancing party which a group of
young people of the Bethesda area
will give on Tuesday. October 90, in
the Battery Park Club House There
will be about 20 guests.
Mr. and Mrs. John H. Yer Kouteren
OF Chevy Chase Gardens, Md, en-
tertained at. an informal reception
Wednesday, in celebration Of their
fifteenth wedding anniversary. Twen-
ty-two guests were present. After
the reception, Mr.. and Mrs. Yer
Kouteren and their guests attended
Evening star., 1935-10-27

Q dancing party at the Women's Club
Of Bethesda.
Mrs. Sullivan J. Ross will return to
her home in Friendship Heights, Md,
today, after having spent the past
ten days in Narberth. Pa, as the
guest Of Mr.. and Mrs. Elwood Sickel.
Mr.. and Mrs. T. NJ Cremins, Of
Somerset. Md, have had as their
guest fol the past week, Mrs. Isaiah
Kelly. Of Boston, Mass.
Evening star., 1935-07-16

President Albert Lebrun for his sig
nature.
Lower Trade Barriers Asked.
A lowering Of foreign trade bar
riers, including import quota restric-
tions, was rumored to be part of the
program.
Laval, aware Of the unpopularity oi
budget trimming, particularly among
functionaries and veterans, indicated
that no one would be spared.
IF discomfort must exist, all French
men must be equally discontented,
he said
A cut in the cost Of living, perhaps
beginning with utility rates, as q
stimulant to business recovery, was
contemplated in the DEGREES in the
hope of swelling tax receipts.
The economies were estimated at
$500, 900, 900 francs, the major item
in the program.
Last Defense Of Gold.
The effort to make both ends meet
was admittedly Frances last stand In
defense of the golden franc.
Premier Laval, pledged "to avert
devaluation," has announced the
government budgets 1885 deficit at
$500, 100000 francs, with the rail-
roads-whose losses the government
guarantees, SOC, 900, 900 short.
The treasury, with these and other
obligations, he said, must find 49,
900 900 900 francs this year.
Lavars associates predicted the re-
Evening star., 1935-07-16

glory. Oh, Jess, speaking OF Weo-
dings heard last week that
Helen Farley has q serious interest
here. She spoke of it in Grafton.
Jess wasn't listening. She had just
seen, over in shadowy corner, the
back of Franks head -. Frank wnom
she didn't wish to disturb until ne
was ready to call her . and now
she couldn't no she coulont ols-
turb him and she couldn't present him
to her friends because his ardent gaze
was fastened on a flushed, ecstauc
face across his table Helen Faf-
lev,s face Helen Farley was see
ing no one but Frank.
Jess looked down at her plate ana
twisted her face into a palneo'
churchIike smile. How foolish OF me
to have forgotten. I must beg to be
excused right away. I should be at
home now something urgent
she was murmuring incoherently.
Tom and Evelyn arose Immediately.
Wen get you there. We can nave
dessert anywhere. Come on not
another word. We're taking you
home"
She blessed their generosity and
their act, and bade them a confused
farewell at her door.
And then she acted just as sne
had told Helen, earlier in the day,
that she would. She stormed and
cried alternately, threw her slippers
into the far corner of the living room
and allowed her fragile self to fall
dullv onto the davenport to rest
there immovably.
For an hour she lay there in the
dark room, threatening to slash the
throat of any one who came near.
The telephone buzzed in the dining
room and she ignored it 1t rang
insistently and family she could hear
her mothers voice, and then little
louder. Jessie dear, please try to come
to the phone. Franks calling. He
really would like to speak with you.
Her inertia vanished.
Jessie! Won't you please Gomez"
"Yes, mother, just a second. Just
a sec" She stood up, steeling
herself, and then sat back again
weakly. "A second! That's what
I ami" She laughed pitifully, child
ishly. Just a second, mother"
With trembling hands she lifted
the phone piece. Hello, Frank
with the voice of one anticipating
pursuit. Yes, of course I'd like to
see you. Anywhere you say. Uh-huh.
Half an hour. Grand!"
She pushed tousled curl on her
forehead and sat back limp. Then
a grim little smile flashed across her
stiff lips. Her eyes lighted and she
murmured: I'll teach Helen Farley
a lesson she'll never forget"
(Copyright. 1881