davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
Cash SURPLUS GAINS
International Carriers Releases An
nuaI Statement.
BIZ Times Special

By Times Special
NEW YORK, Feb. 2.-The annual
statement of the international Car
riers, Ltd, released today, show;
that surplus cash IN banks on Dec
81, 1884, amounted to $530,333.14,
compared with only S62,781.77 in the
same period of 1888.
The aggregate amount Of invest
ments on Dec. 81, 1884, was 1891
667.50, compared with S4,464, 429 SO
at the end Of the previous year. The
net asset value a share on COM
mon stocks increased from $50 III
1888 to S8.17 in 1884, the statement
shows.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
Produce Markets
Reprinted from Yesterday

Delivered in Indianapolis prices Heavy
breed hens. lac; Leghorn hens. 7c; COL
ored springers. l5c; heavy tags: &C.. Leg
horn stays &c; old ROSTERS. &C. ducks.
fun feathered and fat. l0c: geese, full
feathered and fat. Sc; all classes of
guineas. l5c. No. l strictly fresh country
run eggs. loss of. 2lc Each fun case must
weigh IS lbs. gross. a deduction OF l0c a
pound for each pound under S. lbs. will
be made. Butter-vNo. l. 37d3Sc: butter
fat. CSC. Quoted D. the Wadley Co.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
COFFEE BOARD SEAT OFF

By Times Special
NEW YORK, Feb. 2.-The New
York Coffee and Sugar Exchange
membership of w. A. Wage has
been sold to F. Shelton for $4,000
off $3.50 from the preceding trans
action, It was learned today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
CARLOADINGS DECLINE
Decrease of 7187 Cars in Week Ended
Jan. Is, Report Shows.
By United Press

NJ OHlttU FTCSS
WASHINGTON, Feb. 2.-Carload-
ings of revenue freight for the
week ended Jan 26 totaled 555, 763
cars. A decrease of 7187 below the
preceding week and 1882 below the
corresponding week in 1884, accord
ing to a report of the Association
of American Railroads today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
NEW PROPERTY ACQUIRED

A y 4 NHttc = HttNuh
NEW YORK, Feb. 2.-Thermoid
Co. announced today the acquisition
OF the property now owned and oc-
cupied by the Roller Bearing Co.
Of America, at Trenton, N. j. This
property had formerly been owned
and occupied by the Mercer Motor
Co. before it was acquired by Roller
Bearing CO.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
GRAIN TRADING
EXCEEDS STOCK
SALES IN 1874
Dip From 1888 Commodity
Volume Is Slight, Re-
port Shows.
BIZ Times Special

By Times Special
NEW YORK, Feb with a de-
cline Of 81 per cent in dollar volume
of all stock transactions on the
New York Stock Exchange in 1884,
as compared with 1888, the value OF
such transactions fell below the
total dollar volume of grain tran
sactions on the Chicago Board OF
Trade, according to survey issued
today by Fenner & Beane, mem
bers of the New York Stock Ex-
change and the principal commod-
ity exchanges of the country.
Contrasting with this 81 per cent
decline in the dollar value of tran
sactions in stocks, grain tranSac-
tions declined only II per cent"
the survey states.
Dollar volume of trading in
wheat, corn, oats, rye and barley
the five leading commodities on the
Chicago Board of Trade-totaled
SO 1904, 797 900 in 1884, compared with
$40, 1888 ,511 900 in 1888, the decrease
amounting to approximately $685.
714,00O or ~ per cent of the 1888
total.
Stock Transactions
aggregate volume of stock tran
sactions on the New York Stock
Exchange last year amounted to
S7,614, 22O,914, compared with $15,-
486, $780, 44 in the year previous, a
decline of $7,872, 100 1880, or about 81
per cent.
Value of wheat transactions
slackened moderately from $685.
All, 900 recorded for 1888 to $7,044,-
342, 900 last year; while bushel VOL
umes as reported dropped from TO-
$4,000 bushels to 7,5O4,115,000
bushels. Increased value of the
turnover in corn and barley, due
entirely to higher prices since
bushel volume in these grains, de-
clined, offset in large measure the
acute shrinkage in dollar volume
of dealings in oats and rye.
Grain Trading High in August
"The 1884 peak month in grain
trading activity was August, in
which month turnover valued at
ST ,66O, 581 900 was recorded, drop
ping abruptly to about half this vol
ume in subsequent months; while in
1888 the top volume of $1,897 ,474, 900
was reached in June and was fol-
lowed by a comparatively gradual
abatement in activity, with mod
crate pickup in November, as
shown in the following table.
Dollar volume of stock transact
lions for January, 1884, was unsur-
passed in subsequent months and
declined to low ebb in September,
with a gradual recovery recorded in
the closing months of the year. The
1888 peak month for stock transac-
lions was July
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
BOND ROBBERY
SPURS BROKERS
TO NEW ACTION
Central Depository Plan Is
Weighed by Exchange
Committee.
By Times Special

81 mes Special
NEW YORK. Feb. 2.-Wall Streets
million dollar bond robbery Of
Monday has stirred brokerage
houses to q reconsideration of the
plan for establishing a central de-
pository for securities. 1t was
learned today that a report on the
subject is awaiting action by a COM
mittee of the New York Stock Ex-
change.
1t has been proposed for over 10
years that the Exchange set up a
central depository which would act
as custodian OF active stocks. Trans
ferS between brokers on behalf Of
their customers, under the plan,
would be accomplished by security
checks and would involve no physi-
cal transfer unless demanded by the
owners.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
BROKERAGE FIRM PURCHASED

CHICAGO. Feb. Announce
ment was made today that Guy
Huston & Co. and that Ray T.
Sterling and r. B. Sheridan Will
become vice presidents Of Guy Hus-
ton & Co. The two companies Will
deal in municipal and joint stock
land bank bonds with which both
houses have long been identified.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
L. s. SELLS SILVER TO CUBA

- = ANtte special
WASHINGTON. Feb. 2. The
State Department has announced
an agreement on behalf of the
United States Government to sell
to Cuba sufficient silver bullion to
coin 100000 Cuban pesos.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02


Under the social security pro-
gram advocated by the Administra-
ton" the survey says, every en-
ployed person making less than $3.50
a month will be required to take
out an annuity, backed by the Fed
eral Government, while higher
salaried individuals will be offered
an optional insurance policy to pro-
vide protection against poverty in
old age.
Position Is Explained
Vat first blush, it appears that
this plan would cut heavily into the
business of life insurance companies.
The Governments old-age inSur-
ance, however, includes life inSur-
ance only to the extent that taxes
paid in behalf of the insured person,
MUS accrued interest, have not been
exhausted by pension payments to
him at the time of his death.
THE plan therefore, enters into
direct competition with life lnSur-
ance companies chiefly in the mat
ter of straight annuities.
1.-The latter constitute a relatively
insignificant portion of the lie
companies business. In fact, many
companies regard such operations
with little favor. Government COM
petition in this respect, then, is OF
no particular concern to the life in
surance companies.
Might Educate Public
THE point has been made that
the effect of the Administrator S
plan may be to educate the public
to the desirability of insurance III
general, with the result that de-
mand for life insurance would be
stimulated.
1.-The better business factors which
were chiefly responsible for the in
crease of more than 10 per cent IN
new life insurance written in 1884,
then. might find an ally in the So
cial security program in coming
years.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
Stock Studies

The Manhattan Shirt Company
is the outgrowth of long estab-
lished business. For more than 60
years the word Manhattan" has
stood as a trademark for quality
shirts.
The company is one of the lead
ers in the manufacture of high
quality shirts, collars, pajamas and
underwear. Plants have annual ca
pacity of 100000 dozen shirts. Dis
tribution centers are located in New
York, Chicago and San Francisco.
FINANCIAL DATA
AS of Nov. 80, 1894
Capital Stock ($25 par) ...224,522 shares
SURPRISES ...... "a, III, aus
Cash and Securities ............. 932,948
inventories :'s'.s'''..'''. 1,Uoo' 09o
Total Current Assets ........... AUS. $50
Current Liabilities ,........' lOI.Izl
Manhattan Shirt was incorpor-
ated in it's present form in 1912 in
New York. The capital stock is
listed on the New York Stock Ex-
change. AG a current price OF
around II it sells to yield 5 per
cent.
(All Rights Reserved; Winchester 1nsti-
tute of Finance, Winchester Mass)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
FEDERAL FARM LOAN BONDS
(By Blyth s. Coz
OIL PRODUCTION RECORD SET
By Times Special

=
TORONTO. Ont, Feb. 2.-The oil
wells of Alberta produced a total Of
2,265,94 barrels in 1884, establish
ing a new record for Canada's lead
ing oil producing province, it was
announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
CHINA'S BANKS
POOLING FUNDS
; TO HALT DRAIN
Bankers, Merchants Await
Settlement Day With
Trepidation.

. ~ CNtFfN FFtes
SHANGHAI, Feb. 2.-Shanghai
banks pooled their dwindling silver
resources today in efforts to weather
a monetary crisis which within "a
hours has closed two large native
banks here. A third failure was
averted temporarily by a pool in
which six financial institutions par
ticipated.
Bankers and merchants dreaded
the approach of Feb. 4-Chinese
New Year and settlement day
when custom dictates that Chinese
debtors settle their accounts and
begin a new year free of debt. IN
less the debtors can obtain silver,
basic currency in a country where
paper money is practically valueless,
many merchants may be forced into
bankruptcy.
DevaluatiOn Weighed
Government leaders were conferr-
ing at Marking seeking a way out
Of the crisis. A reorganization of
the ancient monetary system, based
on silver, was considered. Devalua-
ton Of the Yuan, a measure of sill
yer, was a possibility. A shift to
the gold standard also was possible.
The two banks which closed their
doors were the first members of the
Shanghai Native Bankers Associa-
ton to fail. The Yung Kong Bank
estimated its loss at 81 100000. The
zee Kong Bank, second to collapse,
was said to have returned 100000
in checks.
A scarcity of silver developed in
China son after the United States
nationalized silver and offered a
price higher than the market quo
tationS at the time. Natives and
foreigners withdrew their holdings
from China BANKS and sent them
abroad to take advantage of the
better price.
Export Duty Fails
A government excise tax and
heavy export duties failed to check
the flow. An embargo was threat
ened but never applied. Smuggling
further depleted stocks.
Finance Minister H. H. Kung and
other officials appealed to President
Roosevelt to modify the American
silver policy and either reduce the
price Or stop purchasing. What Mr..
Roosevelt replied never has been
made public but there is no sign
here that America has changed its
policy.
Kung and his predecessor, T. v.
Soong, were called to Marking to
discuss the situation with Gen.
Chang Kai Shek, virtual dictator
of the National Government. They
have not indicated any course of
action. In fact no announcement
has come from their proceedings ex-
cept foreign office statement that
an economic agreement with Japan,
involving a loan and a change to
the gold standard, was not being
considered.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
Cost Seen Reduced

In addition to lesSening the pos
Sibility of security theftS such as
Mondays robbery of $1,462,O00 Of
securities owned by the Bank of the
Manhattan Co. it is stated that the
cost of transfer would be greatly
reduced.
Brokers have been unwilling re-
Gently to consider establishing the
depository, because of the expense
entailed. Several hundred thou
sands of dollars would be required.
they say, and the thin volume Of
the market does not justify this eX-
penditure.
The sensational bank theft of
Monday, however, has brought
home to them again the desirable
ity of establishing a central depos-
itory.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
Insurance Firms Vie70ed
Unhu1t by Federal Plan
Vast Amount Of Proposals in 0fng Seen Having StImu'
.atng Effect by Standard Statistics Co.
Roy L. Brown
By Times Special


proposals contained in President ooS
Statistics concludes from STUDY
of discussion of the
poa in the ofHng effect the insurance
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
What Does 1t Mean

G. T. c. Order-When person giUes his broker G.
T. C. order to buy sell stock at certain figure, the
sale lcH be made automatically Ohen the stock reaches
that price. 1t means good till cancelled"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
To Consider Report

AS soon as Walter L. Johnson.
chairman of the committee on se-
curities, returns from a brief va
cation, the report on the subject
drawn up by Lawrence G.. Payson,
president Of the Stock Clearing
Corp, will be considered.
1t has been suggested that COR
porationS whose securities are trad
ed on the Exchange might be will
ing to finance the central deposit
tory. They might do so with the
funds saved in the elimination Of
their own transfer branches.
An objection to this, however, is
that many workers would be thrown
out of employment.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02

INDIANA farm cash receipts in
L 1884 Jumped to s2O9 ,6OO,O 900,
compared with S149, 429, 900 in the
previous year, according to j. H.
Skinner, director of Purdue Uni
versitys agricultural extension de-
partment. A compromise pro-
posal to restore Federal pay to>the
pre-depreSSion level April l, except
for employees receiving more than
$4,000 annually, was adOp,ed ny
the Senate. Federal Judge
Thomas w. Slick approved the
plan Tor reorganization of the
.Studebaker Corp. and the ROckne
Motors Corp. The United
States favorable balance of trade
for 1884 was S478.365 900. contrast
ed with S225. 435 900 III the preced-
ing year, according to the Depart
ment of Commerce. Exports dur
ing the year rose from S1,674,994,-
600 to 133.414.OOO. Joseph
B. Eastman, Federal Co-Ordinator
of Transportation, in a report to
Congress recommended that all
agencies of transportation be CO.
ordinated IN such a manner that
they would be under the rule of a
single agency. The Agricul-
tural Adjustment Administration
announced that more than 1900,
600 corn-hog producers in SO states
received an average Of $50 each
for crop reductions they made last
wear. Public Works Admin
istrator Harold IckeS announced
the allotment of S3,760,000 for con-
struction of a Federal-Owned and
operated power plant in New York
CITY.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02

Hig hlig h is of the
News During the
Last Week.
by VINCENT 5. LYONS
lines Financial Editor

THE Federal Reserve Board re-
n ported in its monthly review
that December business activity rose
to the highest level for that month
in five years and that further gains
we're recorded in January. The
Fletcher Joint Stock Land Band
announced the initial steps Of a
program to refund sl,lO0,000 Of its
So per cent bonds. Small blocks
Of new obligations bearing 81 and
ga per cent interest were offered
in exchange as the first part OF the
refunding SCHEME. The United
States public debt is reaching
pathological limit, the Guaranty
Trust Co. declared in its monthly
business review. A proposal that
the lending activities Of the Home
Owners Loan Corp. the Farm
Credit Administration. the Re
construction Finance Corp. and the
lesser agencies be cO-Ordinated I'M
der one head was made to Presi-
dent Roosevelt by Secretary of the
Treasury Henry Morgenthau Jr.
Automotive industries pointed
out that it is possible that total
automobile production in January
will reach the 100000 mark and
that February's figure should climb
to $4,000 units. The nations
steel capacity for the current week
was placed at 525 per cent by
the American Iron and Steel In
stitute, compared with 495 per cent
the previous week. At this time
last year the rate of capacity was
244 per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02
N. Y Bonds

Copyright, 1885, by the Standard
Statistics Co. Inc.)
II. g. GOVERNMENT BONDS
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02


THE Cities Alliance, comprising
II governments of II midwestern
municipalities, decided to advance
plans for a Senatorial probe Of the
natural gas industry which, it is
alleged, has set up a virtual mon
OpOly Governor Paul V. Nc
Mutt affixed his signature to the
bill. amending the state banking
laws. which will release millions of
dollars now frozen for financing
and construction of homes. The
State Department Of Financial In
situations issued an order limiting
the amount of interest which may
be charged on small loans after 80
months. 1t is provided that if the
loan is not paid off at the end OF
eight months the interest on the
unpaid balance would be fixed at
per cent. Railroads OF the
country in 1884 installed 24,l03 new
freight cars, SO new steam loco
motives and 81 new electric loco
motives. against 1879 freight cars,
one new steam locomotive and no
electric engines in 1888, according
to the Association of American
Railroads. One of the largest
security robberies in years occurred
Monday when a messenger of the
Bank of the Manhattan Co. re-
ported the disappearance Of S1,456,-
600 of government bonds. Gov.
Frank d. Fitzgerald of Michigan
served notice on the State Utilities
Commission that it must act to
procure substantial rate reductions
for electric power throughout the
state. The special joint Leg
islative committee named to in
veStigate activities of natural gas
interests in Indiana got under way
Tuesday.
q
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-02

(By Fenner g. Beane.)
Tiharfvk
, 1935-10-25
Bulls Rampage, Forcing
Stocks to High Record

NEW YORK. Oct. %. lPl-BullS on
stock Specialties brooked no oppoS-
tion IN Fridays market and prices
Of selected issues Surged forward 20
new high levels for the past four
years or SC.
II was a pick-and-ch0oSc session
however. and many Of the rails. util-
izes and other past leaders were
content TO hold their heads above
water. Motor and merchandising
stocks attained renewed popularity
and SteelS found a following. The
activity correspondent 10 that OF
Thursday.
Grains were rather neutral and
cotton eased. BOnds we're a DIT inn
proved. Foreign exchanges were
slightly mixed.
Shares OF Coca-Cola spurted 8
points and Liquid Carbonic, Ameri-
can Telephone and Chryler advanc-
ed 2 each.
The coppers were backward and
the oils were little better than steady.
The presidents statement that
private industry Is now taking up
the slack" Of unemployment. with a
gain Of some $4,000 workers in Sep
TENDER, helped y cheer construc-
tive forces.
Other items Of marketwise in
fluence included:
The department OF commerce
weekly index OF primary business
activity was up 70 $50, q new 1885
, 1935-10-25

pla from either the north OK tie
south. On the n0rth-the Eritrean-
front, there has been mo action worth
the name tn several days. General
Emilio Gle Bono seems content 60
consolidate his advances at Aksum,
Aduwa and AdiRrat.
Makale, about 90 miles south OF
the Aksum-Aduwa -Adigrat lines.
Is sure to be the scene Of a deci-
sive meeting at arms. SelaSsie Is
making good use OF the breathing
spell TO move greater forces into
that rea and-equally important
I'd supply them adequately with
arms and ammunition.
Jijiga. DO miles east of the walled
city OF Harar. may be a battle site
finally, for the Ethiopians have
said they viii defend 1t vigorously.
But before there can be battle
there, the Italian army has many
leagues Of difficult terrain to cover,
and that win mean a longer line Of
communication with resultant in
crease OF hazards.
, 1935-10-25
DEPORTED MAN
Is ARRESTED
Mexico Sends Back To
u. 5. Smuggling Case
Suspect

Adam Smith. wanted By federal
authorities in New Orleans, Houston
and Brownsville on smuggling
charges. was arrested az the Browns
vile airport Thursday as he stepped
from a plane after having been de-
ported from Tampicc.
He was arraigned before II. s..
Commissioner Carlos q. Watson on
a complaint charging him with
smuggling 2f0 pounds 0l marihuana
into the II. S. here, and his bond
was set at $4,000. The bic ship
ment came IN on a freight car hid
den under pineaVoles from the
T3mplc0 section. The seizure was
made in Brownsville July 5.
Smith also Is under $4,000 bind
in connection with a smuggling
complaint filed against him AZ Hous-
ton. The defendant. who lived III
New Orle-ns before moving to Hous-
ton, was depOrtcd by the Mexican
government following an inveSti-
cation In Tampico by r.. &. Maurice.
customs sgent In charge AZ Browns
Vile.
Maurice and Deputy u. S. Marshal
d. s. Wright left for Houston with
Smith Thursday afternoon.
, 1935-10-25
WAR
CONTINUED from Page onel

CONTINUED from Page onel
Leading deep into Ethiopia from
Italian Somaliland are two important
rivers-the Juba and the Shibeli. II
Is up these valleys that the Italian
strategy Is directed, the advance
being necessarily slow because the
terrain Is none too favorable.
The first gesture along the Juba
was nc Dolo Tn the early days OF the
war. No significant infantry advance
has been reported from Dolo since
the Italians captured III but the aerial
reconnaissance Ia active along the
Juba and It's tributaries as far as
Magalo.
Villages Occupied
italian conQuestS have occurred.
however. along the Shibeli river, or
(as the Rome communiques refer TO
I'D on the SciaVeli sector. The action
continues In the Sciaveli CShibelD
sector" Rome announced Friday.
The occupation OF various villa
ges" along the river bank was an
nounced. Geledi. which Il On the Shi-
bei river and about 80 miles In from
the Somaliland Ethiopian frontier.
has been occupied.
These numerous reports OF village
occupations do not appear to cause
much concern among Ethiopian Of
ficials. and the suspicion prevails
that slight resistance has been Of
fered, the Ethiopians still ~preferring
10 defer a decisive encounter.
The Rome communicates continue
TO tell OF tribal chiefs who are turn
ing tail 70 the King OF Kings and
throwing their lot with those who
bear arms for II Duce.
There was no mention In Fridays
war report from Rome Of casualties
among the Italians.
The Italians continue TO make
regular use Of their airplanes, but
Ras Nasibu. leading the Ethiopian
forces In the south. said the bomb
ing planes were Intellectual.
The total casualties among Ethio-
plans In bombing operations along
che Shibeli river. the Ras said. were
SIX dead and three wounded. The
Efhiopians get much satisfaction out
of realization that these air bombs
are expensive weapons OF war. and
they feel the Italian army viii have
TO get a better casualty score than
this II bombing operations are to
prove worth while.
Advances Bog
Certainly there has been no Whirl-
wind forward movement into Ethio-