davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
INDIANAPOLIS, THURSDAY, JUNE 10, 1885
NezO York Stocks

By Hifcd Press
NEW YORK, June 13.-The stock
market hrmed today. with gains 10
more than a point and special is
sues attracting greatest attention.
Among the special favorites were
Collins e. Altman common and pre-
ferred, which touched new 1885
highs, the former at 1914, up IL,
and the latter at 91ai, up IA. Con-
tinental Can reached new high at
84is. up IL: Ingersoll Rand at 90i2,
I'D IL. and Woolworth at 81, up
Ia: Postal Telegraph preferred
dropped to a new low of AS, of
Is. as reorganization rumors
spread.
Chemical shares weakened, Al
lied Chemical losing more than a
point to 81, while Monsanto was of
2 at 75is. Safeway Stores dropped
Ia. TO new 1885 low Of 3694.
Anaconda was active and slightly
lower. Utilities generally irmed
after Yesterdays slight drop; rails
we're steady to firm and the indus
trial list held close to the previous
close.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
MASON is OPTIMISTIC
KeIvinatOr Head Sees FILA Action
Aid to Air Conditioning Field.

DETROIT, June 13-Prediction
that the recent raising of the limit
of FILA property improvement loans
will be the greatest single spur to
the development of the air condi-
tioning industry seen in 1885, was
made today by George w. Mason,
chairman of the board and presi-
dent of Kelvinator Corp.
Mr.. Mason declared that the ex-
tension of government insured loans
from $4,000 to $4,000 on property
improvement projects opens the way
for the financing of air conditioning
installations by thousands of restau-
rants, hotels, and retail establish
meNtS.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
CIGAR STORES PLAN
AWAITS COURT RULE
Jacob Rupert Proposal Opposed by
Other Groups.

d y tHttS > Utftnb
NEW YORK, June Especial
master in the case Of the United
Cigar Stores Co. of America has adj
journed until July II decision on the
motion of M. Carl Levine, attorney
for Jacob Rupert Realty Corp, 10
consider his plan for reorganization
of the company.
Decision was reserved on the mo-
ton of counsel for United Cigar
Stores to vacate the order to show
cause why Mr.. Levines plan should
not be considered.
The motion to vacate was con-
Cured in by counsel for the deben-
ture stockholders committee and
the landlords protective committee.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
GRAINS ESTABLISH
LOWS FOR SEASON
Fractional ReCeSSionS Rule
in Early Transactions.

hN HfffH frfss
CHICAGO. June 13-Grain prices
declined 10 new seasonal lows as
pesSimism prevailed today on The
Board OF Trade.
At the start wheat was $ to =
cent lower. corn was z 10 : cent
lower. oats we're of i TO /. cent
and rye declined z TO IL cents.
News Developments and general
sentiment was against the wheat
market A break in Liverpool and
continued favorable weather COM
bined with apprehension over the
approach of the new crop movement
and unC srtainty over the Canadian
situation brought selling into the
wheat pit at the start. September
and December oats and al deliv-
cries Of rye were N new low ground
for the season.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
MIRA END SEEN AIDING
CAPITAL EXPENDITURES
Action Likely to Encourage Forward
Planning, Study Says.
By Times Special

By Times Special
NEW YORK, June 13-One pos
sible effect of the death of NRA is
an increase in expenditures for
capital goods, according to the
Standard Statistics Co.
The Qualification of the business
picture likely to result from the
outlawing of the codes should
eventually encourage forward plan
ing, the review said, and while the
first expenditures for plant rehabili-
tation and expansion are likely to
be made from accumulated cash
surplues, the present favorable
money market is another construc-
tive factor.
1t will be a little while, of course,
before business executives can ap-
praise accurately the results of the
Supreme Court decision; and no i'm
mediate flood of capital expend-
itures is expected.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
WILLMARK SYSTEM
OPENS OFFICE HERE
Personnel Development Unit Will
Be in Charge of ]. ]. Heimlick.

The Willmark Service System,
Inc, New York, the country's
largest personnel development or
ganization, today announced the
establishment of branch office in
the Roosevelt Building under the
management Of j. j. Heinlick.
This new office, the twentieth
branch in key cities, is another step
in the expansion program of the
company. In the last six months
offices have been opened in Min
neapolis and New Orleans.
The local office will be in full
operation by June Is, completely
manned and equipped to serve re-
tailers in this trading area.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
OUTPUT OF LUMBER
HOLDS AT LOW MARK
New Business Registers Decline in
Holiday Week.

ID Y tMtS CptCtGt
WASHINGTON, June IS. - Al
though the lumber movement dur
ing the holiday week ended June
continued low for the fourth consec-
utive week production and ship
ments were slightly above those of
the preceding week in daily aver
age, the National Lumber Manu-
facturers Association reported today.
New business, however, was below
that of the week before. Orders and
shipments continued in excess of
those for the corresponding week Of
1884.
Reports to the association for the
week give production at 122,543,000
feet; shipments, 146, 100000 feet and
booked orders, 164, 495,O 900 feet.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
Wall St.
Leaders of Business
Puton Spot by Plan
of President.
by RALPH HENDERS SHOT
Tines Special Writer

NEW YORK. June l3.-Among
~ the things President Roosevelt
plans 20 do. according 70 Washing
ton dispatches. is 20 maintain
skeleton force o. the NFA on hand
in order 10 keep a Chec6 on bushes.
during the next nine
months. This tends 20 put big bus
ines ION the spot" for II the re-
suits show that the boys did not
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
BRISH NEW CHAIRMAN

:
NEW YORK, June 13.-Alvin g.
British has been elected a director
and chairman of the board of
American Home Products Corp, It
was announced today. He succeeds
Lawrence Beckwith on the board.
The position Of chairman of the
board has been vacant.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
CURB DROPS ISSUE

hW fwifs NNfrfHt
NEW YORK June 1S.-The New
York Curb Exchange has suspended
from dealings the no par % 81 par
and notifying Management Corp.
This follows the action OF The com
pany in changing the common from
non-par 10 81 par and notifying the
Exchange that no application will
be fled for listing the new common
stock.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
BANK STOCKS HIGHER

NEW YORK, June 13.-New York
City bank stocks recovered further
last week, according to records COM
piled by Holt, Rose & Troster today.
The aggregate value of 16 leading
issues totaled 81 300, 457 900 on June
7, an increase for the week Of S42,-
10000, or 1888 per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
NeW York Curb
lBv Abbott. Proctor g. Paine
DOYLE IN NEW POST
Named Production Manager of Ohio
State Life Insurance Co.

The Ohio State Life Insurance Co.
has announced the appointment of
Clinton c. Doyle as production
manager. For the last year Mr..
Doyle has been agency superin-
tendent of the Reserve Loan -e
Insurance Co of this city.
Other appointments announced
by the Ohio State Life include those
of G.. J. Purcell. Indianapolis, and
Muril c. Ash. West Baden, as spe-
cial representatives attached to the
Indianapolis agency.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
THERMOID SALES DROP

NEW YORK. June l3.-Sales Of
the Thermold Co and wholly-oVned
subsidiaries last month were 5 per
cent under the total volume for
April but stood Is per cent ahead
az May 1884. the company reported
today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13

keep the faith
excellent G. a m
pairn material
for strict reEula-
ton Of trade IN
proper le gal
fashion next year
wiu have been
provided
And j. isn't
going % b. 50
easy for the
business leaders
70 live up %
NRA principle
aHnorrn most %
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13

LOCAL CASE MARKET

FOR Nc soft red wheat C-her grsoes on
-tei- merits Cash corn No. ) yellow
- cenrs snc cats - cents
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
Other livestock
By United Press,

(By United Press
FIT WAYNE June 3.-Hogs-Market
lOc lower. 10000 lbs, IS TO- 2oO-2s9 lbs
$40 250-3o0 lbs. ss5 5oo-35o lbs,
ss25: l3o-i4o lbs. 50. i2o-lsO lbs. 1915:
l00-l20 lbs Sass roughs So: stays. So
Calves-S55o; lambs, $3.50; clipped lambs,
$3.50. e.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
INTEREST COST
ON CITY BONDS
SETS NEW LOW
Sanitary District Issue Goes
at Better Than 3 Per Cent
Borrowing Rate.
BY VINCENT LYONS
Times Financial Editor

The marked competition among
banks and other financial inStltu-
lions for attractive investments re-
bounded to the benefit of the City
Of Indianapolis Yesterday when the
Sanitary District was able to sell an
issue of long-term bonds at net in
tereSt cost of less than 3 per cent
the most favorable rate in history.
The Sanitary Districts issue con-
sisted OF S374.OOO bonds maturing
serially from 1887 to 1870 Gold
man, Sachs & Co. New York
City. we're awarded the issue
on their offer to pay a premium Of
S2879 for the securities as 3 per cent
obligations. Two other bids we're
submitted The City Securities, Co.
of Indianapolis and Marcus r.
Warrender bid a premium of s4125
for the bonds as 81 per cent obliga-
lions while Brown, Hartman & Co.
and F. S. MOSeley & Co jointly
offered to pay a premium Of $12l4
as 81 per cent issue.
What the Goldman. Sachs & Co.
bid amounts to is that the city will
receive a total of S376.879 in return
for the sale of $374,OOO worth of
bonds. The 3 per cent interest rate
will be paid only on the latter
amount. Thus, after giving conSid-
Grafton to the premium paid, the
borrowing cost will be less than
per cent.
BOetcher Awards Issue
Bids for the issue were received
by walter c. Boetcher, city control
Ter, in his office yesterday and an
nouncement of the award was made
in the afternoon.
The money realized from the sale
Of bonds will be utilized to finance
the new addition to the city sewage
disposal plant. Henry B. Steeg, city
engineer, disclosed that additional
grants of $4,000 have been re-
ceived from the public Works Adj
ministratiOn to assist in the COM
pletion of the addition.
Awards of contracts for building
the addition to the disposal plant
anu 4A4Obe1lA4AAE lllctNAAAA4CAy Will NC
awarded shortly, Mr.. Steeg stated.
Low bids submitted were those Of
the c. r. Wermuth Co., Ft. Wayne,
for the plant and the Elliott Co.,
Pittsburgh, for the blowers and tur-
bineS.
Comparison Made
The Sanitary Districts borrowing
cost under the financing arranged
yesterday will be less than per
cent. The borrowing cost on the
sale of So 100000 bonds for the pur-
pose of taking over the Citizens Gas
Co. was approximately 4.75 per cent.
However, there are two important
elements which must be taken into
consideration in connection with
the gas plant bonds.
The first is that the gas bonds
are to be secured solely by the
revenue received from operations
and the second is that the amount
of the bond issue was far greater
than that of the Sanitary District,
which is a general obligation.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13

ing to the report.
From a comparative tax survey
of 261 cities of over 10000 popula-
ton, it was found that the average
adjusted total tax rates for cities
with managers were less in every
population class than the average
rates for cities with other forms OF
government. In the 100000 to $780,
600 population class, for example,
Cincinnati and Rochester. council
manager cities, had the lowest ad-
justed rates.
Reductions Are Less
During the depression manager
cities cut their health appropriations
rs per cent less than the average
cut in the large cities of the country
and they began restoring service
earlier. These same cities, 1t was
disclosed, devote a larger share OF
their budgets to recreation than
manager cities. During the re-
cent years of financial stringency,
they cut their recreation expendl-
lures nearly third less than the
non-manager cities.
Since 1926 when Austin, Tex,
first had a city manager" the re-
port pointed out, 1T has not had
an overdraft, has not resorted to
emergency borrowings from banks
and has issued no tax anticipation
warrants. Taxes have been reduced
and practically every city depart
ment expanded. The year 1884 end
ed with a cash balance of approx
mately $590,0O0, the largest in the
history of the city.
During each of the II years that
East Cleveland, o., has had city
manager government, it has lived
within it's income and ended the
wear with a balance in its general
fund. During the depression the
city was able to continue all services
and add new ones.
Lexington Cuts Expenditures
Lexington, Kentucky, met IS
per cent decrease in revenue from
1881 to 1884 with a 16 per cent de-
crease in expenditures, reduced its
bonded Indebtedness and diScon-
tinued no public service.
IAN announcement made early
this year that the tax rate in Gin
cinnati for 1885 would be reduced
$4.58 per $1,000 of assessed valuation
caused no particular surprise among
residents of that city since Cincin-
natl has been having tax reductions
ever since it acquired a city man
ager nine years ago.
Real property taxes were reduced
by almost one-third during the de-
preston and taxpayers in Cincinnati
today are paying less taxes than in
any city of comparable size in the
country. During the years 1931-1935
the gross bonded debt of the city
was reduced more than $10.000,000
while city services we're improved
and expanded"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
COunCil-Manager Cities
Weather the Depression
Better Than Other Types
Survey of 261 Cities of Over 10000 Population Dscoses
Lower Tax Rate Without Sacrifice Of Services,
National Municipal League Reports.
By Tim es Special


81 period of and
defaults study National Municipal
greater The favorable showing
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
Trade Level Low

The real paSis for encouragement
is the level or volume of our foreign
trade. Unfortunate as it may be,
existing conditions offer little hope
of any major improvement. This
can not occur until world currencies
are stabilized and the restrictions on
trade and foreign exchange are re-
moved. The outlook for these meas
ures in the near future is not prom
ising.
The existence of highly national
istic feelings subsequent to the
World War afforded a fertile field
for the growth of economic self
sufficiency. Our tariff policy, and
especially the SmoOt-HaWley bill,
tended to accentuate the matter As
a result, the war was merely trans
ferred from the military to the eco
nomic front The inevitable result
was strangulation of international
trade by tariffs, quotas, foreign ex-
change restrictions, and so forth.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13

them have given every indication
thus far o. trying their best % do
50. They viii he forced 70 SD tight
and see on All sides % them smaller
and unorranired business people
MAKING concessions and getting
more than thcr share o. the avail
able trade.
Moreover. it Is possible that they
NAV be put back under r!gid re-
gfrirtions even though they show a
sincere willingness 10 observe all o.
the highest ~ The trade principles.
The results ss whole due 20 the
"chschnC~ on the part ri some. may
provde the basis for insistcnce
upon a constitutional amendment
n no other way is found ~ the
meantime 10 legally enforce adher-
enCe to set trade practices.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
Morgan Loan in Vain

Early in the spring of 1926 Pre-
mier BRAND went to Geneva and
tried TO save frances currency by
tying it to the Swiss. Italian and
Belgian moneys. Though these
countries agreed IN n~inciple, they
insisted that first France must bal
ance her budget and set up a gov
eminent that promised to stay in
power at least six months.
The Morgan banks of New York
advanced SlOOOOO.OOO as a stabiliza-
ton fund. But it was like a bucket
C water poured into Sahara'S sands.
Tho BRAND Cabinet fell The
franc dropped some more. Former
Premier HerriOt tried to head CT
the crisis. but failed. President
Do-----~gue in decoration again
turned TO Bric I'd. And once more
BRAND became Premier - for the
10th time-only to be overthroWn
within the month.
only heroic steps could now save
the country. Only a Cabirnt n
posed of men in whom the entire
country had confidence could save
the day President DOumergue called
in former President Raymond Poin-
care and asked him to do his ut
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13

A Nd they would BE- unwise TO eN-
n pect to get better of the bar
cain The Jobs of the NRA force
undoubtedly viii depend on the
facts and figures II gathers. ana
government Jobs have been at
nremium OF late. It might also De
horne i'm mind that not only VIII
the NRA people be watching Dig
business. but the labor forces OF tne
country will be watching the NRA.
But the representatives OF Dig
business would seem to have an eN-
reIlent chance to beat the rap
with the aid Of the bankers. they
should be able TO make pretty
good showing in a business way
during the next few months even
tbouch they are obliged to become
little reckless with their eN-
penditures-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
NRA DECISION
RECALLS STEP
BY FRENCHMEN
France, Faced in 1926,
With Menacing Situation,
Amended Constitution.

nN nnfe NWfrfni
WASHINGTON. June I3.-For-
eign statesmen never cease to be
astounded az the lack of fexibility
Of the American system of govern
mcnt so wildly demonstrated by the
sudden destruction of the NRA.
That a great nations legislative mill
ana executive department could
evolve a government within a gov
eminent ike the NRA and operate
% for approximately two years. only
20 have the whole structure smashed
~ the twinklng Of an eye by nine
men. is to them utterly incompre-
hensIble
When France faced a menacing
situation IN 1926. 10 is recalled. she
not only rugged up a sort of NRA Of
her own. but met in constitutional
convention 10 fOrestall just such an
unpleasant surprise as overlook
President Roosevelt's New Deal.
In July, 1926 France seemed
doomed 10 financial and economic
collapse. The franc was losing
ground fast. The budget was dis
asirously out OF balance. Imports
long had far exceeded exports.
Every person who had saved a few
francs had lost 90 per cent of such
wealth. Additional taxation was
impossible.
Wholesale prices. in terms of
francs. had risen from an index of
lO9 in 1913 10 702 in 1926 People
on wages or fixed income were i'm
pOverished or extremely hard hit, as
the cost OF living scared.
Despite anything and everything
the government at Paris did. the
franc seemed certain to follow the
disastrous course of the Russian
Ioub.e and the German mark.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
England Gave Up Trade

England. the stronghold of free
trade, tried to hold out against I'M
wieldy odds and was forced to adopt
foreign trade policies that would de-
velop trade in the empire and the
sterling bloc England favorS a re-
turn to the gold standard and the
removal of trade restrictions, but
insists on their general adoption.
Such action is possible but not prob
able in the near future.
Our country offers one of the big
best stumbling blocks. There is so
much divergence of opinion on cur
rency and foreign trade policies that
any unanimity of opinion is impos-
sible. On the one hand, the Secre-
tary of State is a strong advocate OF
reciprocal trade treaties and the
adoption of measures favorable 20
international trade. On the other
hand, the attitude of the Secretary
of the Treasury indicates reluct-
ance to take steps toward stabiliza-
ton. Sterilization of currencies is
prime requisite to any permanent
improvement of foreign trade.
In addition, the Secretary of Ag-
riculture is an advocate of nation
aliSm and economic self-Sufflciency.
Such conflicting opinions offer little
hope for the adoption of national
policies favorable to foreign trade
development.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13

Most opponents OF the MIRA say
wi they have 10 objection 20 be-
tnr told what they may not do. but
they do not take serious exception
m being told what they may do.
one constitutes regulation. accord
ing 10 their standards. while the
other comes under the heading oil
bu-iur-g management. They re-
sent too much governmental inter
ference in business and have stat
cd that trade would recover much
more quickly II there was less Of IT,
Now that the NRA has been de-
rlarpd unconstitutional and govern
mental interference mas been ellm-
mated 10 n very important degree
IL seems quite certain that they
Will b. called upon to prove their
contention. II business shows a
Good pickup during the next nine
months their case may be helped
considerably. If not. they may ma
themselves out on the end Of
limb so far as rugged individual
ism goes.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13
N. Y. Bonds

(By Abbott. Proctor g. Painel
(Reprinted From Yesterday
DAILY BOND INDEX
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-13

Corn Loans Being Repaid
total of SEQ, 492 6E7 lent on surplus sealed
the farm has been repaid cith per cent interest
10ithom loss to the government, Lynn P. Tdley head
Of the Commodity Credit Corp. has reported.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-05-24
B. & D. TO EXHIBIT.
NEW DELUXE TRAIN
Abraham Lincoln Stream
lined, to Be Shown at Union
Station Monday.

Something new In rail transporta-
tion-a streamlined steam train-will
be on exhibit at Union Sta ton Monday
from noon until $50 pm, it was an
nounced today by officials of the Balti-'
more & Ohio Railroad. The train,
the Abraham Lincoln" will arrive in
Washington at 7:45 tomorrow night
The new train, streamlined through
out, is painted respondent blue over
all, including the new type engine
that will pull it on its regular 5-hour
run between ST. Louis and Chicago
when it is put into service on the
Alton line, after a tour of several of
the principal cities for inspection by
the public.
Rough Starts Eliminated.
Through new improvements, Off
Gals of the road claim, the train elm
mates the rough starts usually expert
enced in rail travel. The train is of
rigid construction throughout and is
sufficiently heavy to insure riding
comfort. Mechanical experts claim
the engineer could not rough handle"
the train if he tried.
The new train is unconditional.
In announcing the new stream
lined train. Daniel Willard, president
of the B. & o.. expressed the opinion
that, contrary to the belief Of many
that the day of the steam engine has
passed a new and brighter day is
dawning for this type of transporta-
ton.
The new train, at present consisting
of six cars. will be drawn by new type.
streamlined engines. The Lord Balti-
more" and the Lady Baltimore" both
painted royal blue.
The B. & O., according to officials
of the road, were pioneers in stream
lining trains and in conditioning.
The first experiment of the road with
streamlined trains was more than IS
years ago, although at that time the
train was referred to as "the wind
splitter"
The new train will embody all the
features for riding and living COM
fort. In addition to the regular din
ing car service, counter service will
be furnished those travellers who wish
to economic. The train will seat 283
passengers-64 each in three coaches,
20 in each parlor car. SO in the OBJ
servation, and AZ persons can be
seated in the dining car at one time.