The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-06-15
Trends.
Highlights of News
During the Last
Week.
BY FREDERICK MATSoN-
Tines Financial Writer

Il 49, hour flibuster. the stop
gap" NRA resolution became law
late Yesterday When President
Roosevelt affixed mis- signature N
the measure as soon as II reached
IN. White House. The skeleionized
Blue Eagle Dill was passed By the
Senate on Thursday and BY the
House late Yesterday. In It's
final form 10 extends the NRA
until April !. 1886. strips the
President Of code-imposing powers,
but permits voluntary nOn-enforce-
able agreement smOng business
groups confined oniy 70 minimum
wages and hours. child labor. aoo-
ution and collective bargaining.
The Kingfish's piece Of exni-
bitionism is computed 70 have cost
the government about 5000. II
costs an average % so page 70
print the Congressional Record
The 49, hour address is expected
20 IN close 70 100 pages OF the
Record. together with the inter
change Of debate and other pro-
ceedings resulting from The fill
buster.
A THREATENED. and seemingly
~ inevitable. strike Of $4,000
soft coal miners vas averted YES
terday By last-minute Intervention
Of President Roosevelt. The Presi-
dent won from leaders Of both OPP
orators and union miners an agree
ment 70 continue terms Of the
present wage contract until June
30. The strike had been called
for tomorrow. The agreement
was based upon belief that Dy June
80 Congress would pass the Guifey
bill. which is sponsored BY the
United Mine Workers and by
many operators. II would virtually
set I'D an individual NRA for the
bitumin0us coal industry. For
the second time in eight days union
work, s deserted the boilers and
dvnamos Of the Toledo Edison Co.
al TOleuO. The strikers. some 500
In number. charged that the power
COMPANY had failed 10 abide by
terms Of the agreement that ended
the 24-hOur strike last week. &C..
A vast Wabash Valley development
similar 70 the Tennessee Valley
Authority NAV some day be set up
In Indiana along lines now being
perfected in the IVA. This pre-
diction was made by David z. Lii
enthal. IVA director. who was a
guest Of Mayor John w. Kern for
a few hours while passing through
indianapolis on his way to a class
reunion at De Pauw University.
DY a 56-to-32 vote. the Senate
ID passed the Wheeler Rsyburn
public utility holding company biz.
Final action came after an amend
neut by Senator William Dietrich
ID III substituting regulation for
elimination Of unnecessary hold
ing companies was rejected by one
vote. The bill as passed has
two Ob iectiveS. Cd To eliminate
an utility holding companies by
1912 which do not it into an integ-
rated geographically essential sys-
TEN. - To amend the Federal
water power act 10 enable the gov
eminent 10 cooperate more eff
GENTLY IN the regulation of utility
rates. A stiff fight lies ahead
Of the bill. observers believe. If the
measure finally becomes law, IL has
already been indicated that the
utilities Will fight 10 have Il re-
pealed before the five-year dead
line which the bill fixes for the
companies to alter their form or
reduce their size. After more
than two months OF discussion and
argument. the committee Of In
dianapOlis milk producers tenta-
lively agreed on SlS6 a hundred
weight as n basic price for milk
and Will submit marketing agree
ment. June 81. TO the State Mix
Control Board for approval
II EPLYING 10 the inSiStent de-
N mands Of congressional silver
leaders for a statement Of the Ad-
ministratiOn's silver policy. Henry
MOrgenthau Jr.. Secretary OF the
Treasury. disclosed that the Treas
lIry bought 42l .497 900 ounces Of
the white metal in the 1O-month
period ended Nav 81. The pur-
chaSes were 265. 900. 600 ounces
more than the total world prOduc-
ton for the period. The fig
ureS we're made public by the sec
rotary in a letter 10 Senator Nc
Carran ID. New. who had re-
Quested the Administration 10
spike rumors that the United
States had abandoned its silver
purchase program. Mr.. Morgen-
thau told the Senator the figures
were sufficient answer 10 the ru-
mors Of a change of policy.
MANAGEMENT Of the NRA during
the two years ending this month
cost industry and government S93.-
Ss4.595. according to a report by
the National Industrial Confer
ence Board this week. InduStry's
total bill for code administration
was ST.. 704 400. The Federal gov
eminent paid most Of the $4,000.
600 balance. Statistics on which
the board based its report took no
account OF expenses Of code formu-
lation or cost OF ltigatiOnS 10 firms
and individuals.