davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
STATE DEBTS
HELD IN LINE
TO RESOURCES
10 Units Have Per Capita
Debt of Less Than $40,
Survey Points Out.
By Times Special

By imes Special
NEW YORK. May 6.-While the
net debt of the IS states has in
creased nearly 500 per cent during
the last 20 years, the respective OBJ
legations OF most Of the states are
not out of line with their resources,
the municipal service department.
of Dun & BradStreet. Inc, asserts
in a survey just published on the
Resources and Debts of the Forty
eight States"
State debt statistics have little
significance, however, unless con-
Sidered in conjunction with the debt
of local units within each state, and
measured in terms of its wealth and
economic and social stability, points
out DR.. Edna Trull. author of the
survey.
During the last two decades,
when the state debt was multiplying
almost six times. the net debt Of
cities, towns and villages scarcely
more than doubled" a summary of
the analysis emphasizes. But for
the same period. the debt of school
districts and other minor civil divi-
SionS increased 16 times. Thus the
vaster proportions of the various
types of local debt make it still the
dominant influence in the state
local tax system.
Tax Powers Limited
while a state has powers of tax
alton not possessed by local gov
ernments. these powers are greatly
limited in practice when excessive
local Indebtedness is drawing heav-
lily on available sources of revenue"
Eighteen states today have a per
capita debt OF less than $40, burt
only two have combined state and
local debt of under $50 a person.
While the average state per capita
debt is but Sl6.04, the average state
and local debt figure is $109 a per-
son.
These median, or average. fig
ureS, however. fail TO reflect the
wide range from state to state.
While Florida, Nebraska and Ohio
nave IlO StdNS Qtbl, swell obdtCS
have debts of over $40 per capita.
While % states have state and local
debts of less than 500 per capita,
four states find themselves in the
over-$2O0 class. Florida, while it
has no state debt, nevertheless,
leads the local debt list with a fig
ure of 5000 for each person.
Held as Variable
State wealth and resources, the
survey shows, are equally variable
in their range. but not always in
proportion to the amounts of debt
carried. There are poor states
with a light debt and rich states
with light debt. There are also
poor states with heavy debt and
RICH states with a heavy debt.
Finally, there are states of average
wealth and an average debt"
In evaluating resources and debt
paying capacity, DR.. Trull considers
such factors as estimated per cap
tia wealth, retail sales, savings de-
posits, income tax returns, motor
vehicle registrations, manufacturing
wages, value of owned homes and
monthly rentals, as we'll as taxable
and estimated true property valua-
tons and other economic and So
cial induces.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
CANADIAN MARTS CLOSE

By Ontted FFe@
MONTREAL. Quebec, May 6.-An
Canadian markets will remain
closed Monday, May 8, in honor OF
King Georges Jubilee, it was an
nounced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
GOBEL MEETING OFF
BIZ Times Special

2 'I'I9 PNIFWF
NEW YORK, May 6.-The stock
holders annual meeting Of Adolf
Gobel, Inc, has been adjourned
again, this time to May 16, it was
announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06

possible though.
that the priv1-
leges Of the act
may BE- abused
IN some respects
Those who pIr-
chased the stocks
and bonds Of a
c orpOratiOn
when DO vas rid
ing on the crest
OF the wave and
paid high prices
for them are en-
titled TO get a
run for their
5000. -r--n "a ne
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
nome ownership proved too heavy a

home ownership proved too heavy a
burden.
All this fundamental reforming
takes time. but Mr. Moffett thinks
his program is about ready to show
results If it works the way he ex-
poets. he thinks present real estate.
material and labor costs will be no
deterrent TO building. This. OF
course. applies to building by fami-
lies with fairly decent annual in
comes. For those with $1,000 or less
10 live on. the story is quite diff
ferent one.
Tomorrow-Housing for the very
roor
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
BUSINESS PACE
FAIRLY STEADY
IN LAST WEEK
Chamber of Commerce
Meet, Silver, Labor
Unrest Factors.
By Times Special


NEW YORK, May 6.-Chamber of
Commerce members meeting in
Washington have been voicing their
none-too favorable opinion Of the
New Deal program. limiting broadly
that Congress should pack up and
go home, Business week says in It's
issue today, while in the other cor
ner. labor leaders have been urging
consideration of the Wagner dis
putes bill, pointing to the strike
situation in Ohio as labor'S attitude
toward the motor settlement of 1884.
The silver crowd" Business Week
continued, sis finding things much
to its liking these days, having
forced the Administration to take
an active part in boosting the world
price to the satisfaction of specu-
lators everywhere and to the advan-
tage of such silver producing coun-
tries as Mexico. China and the sill
verware producers are not so
pleased, but they don't count in the
silver states. This week also found
the Cabinet Committee investigat-
ing the cotton textile situation-and
doing it behind closed doors.
Auto Strike Disturbing
Meanwhile, business activity con-
tinueS at fairly steady pace with
seasonal slackening apparent in
electric power and steel. The strike
of Chevrolet employees in Toledo is
the most disturbing thing on the
business horizon, endangering as
Semblies in other plants Efforts are
already being made to step up oper-
ations outside of Toledo SO that the
promising Second-quarter sales vol
ume may not be curtailed. Con-
struction volume for April bids fair
at least to equal and may surpass
the March total of $123,000,OOO in
the 81 states east of the Rockies.
Abatement of the dust storms
with the coming of needed rains,
particularly in the Northwest, Of
fers prospects of a good crop and
substantial income in the farm Sec
lions. Postmaster retail sales are
encouraging
Manufacturing and mineral out
put in the first quarter of 1885 adj
vanced an average of 10 per cent.
The usual seasonal expansion failed
to materialize following the ex-
ceptional squirt from December to
January, but in the adjusted index
of industrial production calculated
by the Federal Reserve Board the
decline from January to March was
negligible.
Lumber Mills Quicken
Lumber mills are feeling the
quicker pace in the construction
field, apparent in every survey of
residential construction or removal
ton. New business booked in first
weeks of April set record totals for
the year; residential projects signed
on the first 10 business days Of the
month exceeded $30,000,000 a %
per cent gain over the March rate
and rs per cent better than that of
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
Money and Exchange
TREASURY STATEMENT

fbV OnlLeQ PTeSsI
WASHINGTON May 6.-Government
expenses and receipts for the current fiscal
wear to MAY g. compared with the CORE
spending period OF the previous fiscal year:
This Year Last Year.
Expenses IS 974 GOT 605.70 s5.9l6857 .635 81
Receipts. 3l3o.039l14 SO 2542 293 $40 80
Deficit 2s44 SOS. 4e4 Oh 3.3745s3. 797 4s
Cash bal. I 1872 6i2 664.76 2.23l 293 1928 SO
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
10 (a1D the Poor Indian =
Only s16O Per Capita of Credit Extended Up to
Present, So U. S. Increases Its Fund.

Indian the
Looking the
for
red his
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
LOCAL CASH MARKET

CITY grain elevators are paying SIS cents
Tor No. SOFT red VneaL Other grades
80 theiF merits Cash corn No. yellow
eefEtA and cata ~ eena.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
Wall Street G0ssips

The recent extra uoted by Chrysler Corp. has re-
rired hopes in Wall Street Of special disbursement by
General Motors Ho'cerer it is expected that much OR
depend earIg settlement Of present labor Difficulties
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
BY RUTH FINNEY
lines Speeial Writer

WASHINGTON. May 6.-There
are four reasons why homes cost so
much that people can't afford to
build or buy them. Land values are
relatively high partly due to real
property tax assessments, partly due
TO speculation. And with the first
rise in building permits this spring
they have started TO go even higher
High building material prices have
already been mentioned. and so
have high wage rates. The fourth
reason is the high cost of financing
a home.
The Roosevelt Administration
couldn't do anything about land
values. And, as 1t turned out. it
couldn't do anything about prices
and wages, but * tried.
PWA Administrator Ickes tried to
work out some sort of plan for an
annual instead of an hourly wage
rate for building tradesmen. The
SO to SI3 a day which sounds so
extortiOnate to the home builder
sounds very different to the man
who has 10 support family on go
or 30 days work in year at these
rates.
Deputy NRA administrators in
charge of the construction code tried
to get labor to accept lower wage
rates voluntarily on a temporary
basis. arguing that to offer bargain
rates TO builders for a year would
stimulate construction. Labor,
strongly organized in the building
trades couldn't see it that way.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
No. 4 the Last Resort

Finally when the National Emer-
gency Council organized the first
mOdernization campaign, an at
tempt was made to get labor, ma
terial men and transportation agen-
cies to promise 20 per cent reduc-
tiOnS all the way down the line. In
stead. labor asked 4or an increase
and so did the railroads. and the
material industries said they had
been so badly depressed they could
mt do it either.
So the Federal government turned
to the fourth reason for high build
ing costs and prepared to reform
home financing.
James A. Moffett, Federal Housing
Administrator, believes that no mat
ter how low the wage rates and
material prices had been pushed,
construction would still have Ian
guished as long as the mortgage
market was demoralized and homes
-forecloSed by banks. insurance
companies and building and loan
associations and offered for sale at
distress prices-could be bought for
less than the cost Of building new
home
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
FOUR REASONS
CITED FOR HIGH
COST OF HOMES
Three Factors Resist New
Deal Efforts at Reduction;
9TH Being Assaulted

EDITORS NOTE-This is the fourth
Of SIX articles on the problems and
prospects Of housing in America.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06

holds true for those who helped IN
the early financing Of concern
They should not be crowded out
entirely merely because that COM
panv. along with many others, has
found the going too rough TO carry
the excessive load OF capitalize
ton
Il is entirely fitting and proper.
Of course. 10 scale down the CAPT
taHzation OF companies IN such
times as these And 1t Is no more
than right that those unfortunate
enough 10 hold their securities
should cooperate TO the fullest IN
giving the concerns a breathing
spell. But when times get better
and these companies get back on
the road again the old security
holders should have an oppor-
tunity OF getting back on the
bandwagon-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
No Market for Mortgages

He believes that in setting about
the long. tedious task of reforming
home financing. the Federal HouS-
ing Administration was getting at
the root of the whole housing prob
lem, and building the necessary
foundation without which no at
tempts TO revive building could
stand.
The mortgage Indebtedness of the
country is 81 billion dollars. There
is no market for the securities rep
reSenting this debt because there is
no uniform system of appraiSing
real property for loans, no way by
which any one but the persons i'm
mediately concerned can judge the
value of a lien, and no uniformity
OF interest. maturity and other pro-
visions in mortgages.
Because their is no general mort
gage market. lending institutions
have to figure that their money will
be tied up until the loans fall due.
They have therefore insisted on
short maturities. of from one to five
years. They have demanded bonuses
and discounts for renewal. They
have lent smaller and smaller per-
centageS of the appraised valuation,
forcing would-be home owners, eX-
cept the few able to pay half the
cost of a home in cash. to pay eX-
orbitant and usurious interest rates
for second or third mortgages.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06

THE Administrations efforts to
Il lift commodity prices have
succeeded in at least one i'm
portsnt commodity. Refined sugar
is quoted today at So cents a
pound. the highest price since Nov.
Is. 1925 Five advances in price
have taken place since the first
Of this year. amounting in all to
nearly 1 cent a pound.
The price of refined sugar has
been governed for the most part
by the price of the raw product.
That has been advancing since
last summer when the Jones'
COstiCan law went into effect. That
law placed quotas on importations,
assessed a processing tax of So 2
cents a hundred pounds and re-
duced the tariff on Cuban cane
raw sugar to 90 cents a hundred
pounds from $50.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06

TINS opportunity could be af-
i afforded through the use OF
options. II bOndholders and stock
holders who have waived part OF
their claims were given options TO
buy stocks Of the reorganized COM
panies at stated low prices for
period Of years after the reorgan-
iztaions they might then have an
opportunity to recoup part of their
losses. And they are entitled TO
this opportunity. for their sacri-
fees make it possible for embar-
raised companies to make a come
back
The options would cost the con-
Germs in question nothing. And
their existence should not make
future financing much more diff
fcult. if any. But If it did, to that
extent they might help to prevent
overCapitalizatiOn again.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
InSuring Mortgages

The result has been foreclosures
and more foreclosures and demon
alization of the real estate market,
all of which inevitably accelerates
any depression that starts.
Under the Federal Housing Act
the government undertakes to in
sure financial institutions lending
I'D to so per cent of the appraised
value of properties. That elimin-
ates the necessity for second mort
cages for most home-builderS.
1t provides for amortization OF
loans over a 20-year period which.
Mr.. Moffett says. will enable real
estate values to resist any depres-
sion less than 20 years in length.
To make possible a national
mortgage market. where liens can
be bought and sold so that bank
funds will not be frozen during
the 20 years the home-owner is pay
ing off. the act paves the way for
uniform appraisals and interest
rates
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06
Owners Equity Shielded

Government supervision over ap-
praisals allows the government to
keep a check over rising prices. Be-
cause it has the final say over fore
closed properties it can prevent
forced sales and panic dumping Of
properties. BY creating a mortgage
market, il makes funds available in
regions where there has been acute
shortage Of funds for investment in
homes.
To the would-be home owner the
act offers. in addition 10 freedom
from second mortgages and a 20
year amortization period. combined
interest and insurance charges
slightly lower than present inter
est charges. freedom from renewal
charges and. finally. pledge that
the owners equity in the property
remains his. no matter what re-
VERSES he suffers. II he puts UP
cash TO cover 20 per cent OF the
cost of a house and it is finally
forecloSed. 20 per cent OF anything
the government gets from the prop
erty remains his. In the past men
have heSitated a long time before
sinking their savings in a home,
knowing they would lose them il
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06

Tomorrow-Housing for the very
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-06

Receipts. 400
lShorn BaSis)
choice Ss.s56 735
Common and medium ... 5.l00 685
90-120 lbs, good and choice 3.00G 400
Sheep
120-l50l Good and choice 250G 3.75
All weights, common and me-
dunn ......-.. ...-..--.- l.0OH I'D
Evening star., 1935-11-10

Left: ANIMATED NECK
PIECE. Ann Dvorak'S pet
kitten libby adds a chic
touch of fur as it explores
her shoulder.
La gaceta., 1935-09-06

son cast siempre las que acaban
por dar mas.
No con ell acento planidero
que habia empleado para for
mular su sUplica, sino con tono
resue.to VI desenfadado Y voz
sonora, repuso:
-iQue quiere listed que hi
ciera? Espsrar que pasase una
buena alma que Sc apiadase de
mi y me desc unas perras pa
conner alguna cosa y pagan la
cana.
-iPobre!-exclam6 Andrea
i Wives de la mendicidad?
Ash he vivio siempre Y asi
vivo... aunque bien he gusta-
ria vivir de otra manera. Debe
ser muy bueno ESQ de no te-
merle que pedir a naide ma;
La gaceta., 1935-09-06
La Gaceta Folletin Nc. 27O
LAS PENAS
QUE REDIMEN

seguir dando vueltas por las ca
lies, y menos con la noche que
hace. ST por mi sola fuera..--
iPero este angel!
Y, besando a la nina, exclamo
-iAl ampararte tie hago par
ticipar del infortunio de mi iris
tie situaci6n, pobre criatura!
Pero no temas; yo te resarcire
con creces de 10 que ahora SUI
fras por mi culpa. Sere tan bue
ma para tt, tan buena---- que TIL
madre no seria mejor, case de
que hubieses tenido una buena
La gaceta., 1935-09-06

debil Y quejumbrosa, que decia
-iSenora, una limosnita,
por Ell amor de DioS!
Andrea detdvose, Y en- ell hue
co de la puerta ante la cual Sc
hallaba, VIC destacarse una fl
gurilla enteca.
Era un chiquillo de diez a do
&c amos, segdn 10 que la conde-
sa pudo yer.
Estaba acurrucado en- ell hue
co de la puerta.
Levant6se, al yer que Sc de
Itenia la persona a quien habia
dirigido su sdplica, Y sali6 a la
acera.
ERtopceS la condesita pudo
verlo mejor.
Era un goLftllo cubierto de
IharapOs, snciO, no podia 6ecirse
La gaceta., 1935-09-06

Viaducto.
mStintivamente echo a andar
hacia ell centric de Madrid.
La nieve seguia cayendo, aun-
que no con tanta a~bundancia,
~ Andrea caminaba tan arrima-
da como podia a la pared de
is caSas, para que los BALCONIES
la resguardasen.
Los transeuntes eran escasos
~ paSaban muy apAiSa, como 81
corrieran a guarecerse bajo te-
chado.
Nunca hasta aqueIla noche
habia comprendido la condesi-
ia, a pesar de toda su compa-
sion Y de toda su carload, 10
triste que es no tener casa.
De pronto, al pasar por delan
.te de una p~uerta, oy6 una voz
La gaceta., 1935-09-06
ALABAMA PITTS G A
AL FUTBOL

Ossing, N. Y, Sept. Gala
bama Pitts probablemente acec
tara I'm puesto como jugador de
football professional en- ell oto-
no.
Despues de una conferencia
con eI alcaide Lewis E. Lawes,
de Sing Sing, ell expresidiario
rechaz6 una eferta para pre- :
sentarse en- los teatros, como ar
tista de vaudeville, lpero acept6
una para jugaT al football
La gaceta., 1935-09-06

madre. TIE rodeare de atencio :
mes y de cuidados, tie querre mu
che, tie hare dichosa, y cuando
alg1n dfa logre verte feliz, po-
DIRE pensar: "iSu ventura es la
obra de mi infortunio"
TODD este era un desahogo
para su coraz6n, Y la tranquil
dad iba renaciendo pocs a POGO
en- ella.
va no pensaba en- Gustavo nj
EN- Lolin nj en- 81 miSma nj en-
nadie. Solo pensaba en- su nina !
La gaceta., 1935-09-06
LIGA AMERICANA

Solo Sc efectuaron dos desa-
fios y dividieron honores los
Indios y los Medals Rojas. A
Yves Terrell Sc la acredit6 ell
triunfo del Boston.
Cleveland &c, IAN, lie.
Boston 1c, Oh.
Cleveland 1c, III, Sc.
Boston &c, I'll, lie.
La gaceta., 1935-09-06

Tendi6 ell muchacho la mano,
esperanto recibir la limosna pc
dida, y torci6 ell gesto al escu-
char que aquella sonora, en- vez
de depositar en- Su mano la an
siada dadiva, preguntabale:
= Que hacias ahi, hijo mic?
Ell tono carinoso de la pregun
ia, desarrug6 un tanto ell ceno
del chiquillo.
Saba quiza, por experienced,
que las senoras que contestan
con preguntas a las peticiones,
La gaceta., 1935-09-06
Ell TORNEO DE POLO

New York, Sept. para e.
domingo Sc aplaz6 ell torneo de
polo de los Estados Unidos, a
causa de las continues lluvias.
Ell famoso team ingles de
Nottingham abrira ell torneo
contra los Hurricanes y Green
tree jugara con Long Island.
La gaceta., 1935-09-06

porque a veces tropieza uno
con personals que. vamos, que
no pdece sino que no tengan
corazon, segun ell modo como
lie tratan a uno.
Y miro fila y maliciosamen-
tie a su interlocutora, como pen
Sando: "iSeras til una de esas
personas?"
La gaceta., 1935-09-06

II desenfado del chicuelo
tue simpatico a la condesita.
Ademas, con 10 POGO que lie
haola dicho, bast6 para que su
compassion Sc despertara.
Como seguia nevando, refu-
glose en- ell hueco de la puerta
donde antes estaba ell mucha-
La gaceta., 1935-09-06

Manuel Quintero ha puesto
'un hilo especial para DIR des-
de la Habana los detalles del
bout entire ell Saguero y ell
Chino.
Concentrate su mayor aten-
ci6n en- ell primer minute del
primer asalto.--
La cosa sera distinta ahora
-ha dicho ell Sagiero.
La gaceta., 1935-09-06

81 guapo o fec, porque la mise
ria presto siempre fealdad a to-
do 10 que rodea; pero con ojos
vivos, brilIantes e inteligentes.
La gaceta., 1935-09-06
GANO LA CABRERA DE %
MILLAS

Atlantic City, N. Y, Sept. 6.
Ell dependents de una bode-
ga, Cecil Hursey, de 20 amos, de
Savannah, Ca, gan6 aver la ca
rrera de bicicletas de Is mi :
La gaceta., 1935-09-06

AL Salir de aquella Gale, en-
controSe en- la de Segovia.
10 conoci6 porque VIC desta-
carse a 10 lejos La silueta del
La gaceta., 1935-09-06

IC6mo sc portara Alvarez
bajo ell "fuego' de los punos del
Sagiero?
GEmpezara a decir que lie due
len las muelas y montara en- la
bicicleta?
Lleva ell R~elampago ventaja
en- peso, habilidad y experien-
cha; pero ell Chino es de los que
"acuestan", cuando 10 dejan, en-
ell primer minute del primer a.
salto.
La gaceta., 1935-09-06

batiran eSta noche en- Benjamin
Field.
De nuevo Sc pondra a prueba
la potencia del Chino para de-
rribar a hombres del peso well
ter.
Ell Relampago declara que su
mandibula necesita cuatro chi
nos y que asi 10 probara hoy.
La gaceta., 1935-09-06

gar, en- tercero.
Hizo ell victorioso Ell recorri-
do en- una bora, II minutes y
25.4 segundoS.
La gaceta., 1935-09-06

e Boston y con ~ hits llegaa
ron Is wees al home. 4
Moore, ell jardinero del st. LII
dispar6 un tubey y 5 hits, en-
wees, ~igualando una marca e
las ligas mayores.
| Boston &c, Oh, Sc.
ASt. Luis 15c, 19h, lie.
Vencieron los Cubs al Fila :
DELTA en- I'm desafio que dur6
once innings. Frank Der1ares
peg6 un hit con las bases llenas
dando ell triunfo a SD club. Char
ley Root obtuvo SUI Ia. victoria
de la temporada.
Filadelfia &c, Tn, lie.
Chicago &c, Tn, Sc.