davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01

Consequently, only $7S2, 900, 900
we're available for the purchase of
American goods last year without
recourse to gold as a means Of pay
ment. This compares with S1,675.-
100000 in 1888, 1921 900, 900 in 1882
and with SIS, 100000 in 1929.
The expansion in the value of
merchandise exported from the
United States in 1884" the institute
said, was thus entirely the result
of heavy shipments of gold to this
country. These shipments, includ-
ing a small amount of silver and
currency, were valued at 1851 ,000,-
900. Gold shipments thus provided
funds for nearly two-thirds of the
S2,133 100000 worth of merchandise
exported from the United States.
DevaiuatiOn Factor
The ability of foreign countries
to send such large sum of gold to
the United States was due to a con-
siderable extent to the devalution of
the dollar. Devaluation reduced the
quantity of gold which was neceS-
sary to provide the funds from gold
used last year in the purchase OF
American merchandise.
ut is apparent, however, that the
drain on the quantity of foreign
gold was, at the same time, unusual
ly heavy. The value of merchandise
exported from the United States in
1884 was thus supported by factor
which can not be expected to func-
ton Indefinitely.
"In fact, gold imports into the
United States during the first two
months of 1885 were considerable
smaller than in the same period a
year ago, suggesting that gold this
year will not provide Americas ex-
port trade with as much support as
it did last year. If this proves to be
the case, the value of goods ex-
ported from the United States may
be smaller this year than last I'M
less the import trade holds up as
we'll as it did during the first two
months.
1T is questionable, however,
whether the value of goods imported
will be sustained at the rate during
the first two months when the value
was 10 per cent higher than a year
ago. This is a greater increase than
the outlook for domestic conditions
seems to warrant.
Without such an increase being
maintained during the remainder Of
1885, the value of exports is likely to
be curtailed below the 1884 Level
since the 10 per cent increase in the
value of imports during the first two
months was accompanied by a gain
of only 1.3 per cent in the value OF
exports.
Consequently, since their is little
indication of any particular price re-
cession in the near future, it is APP
parent that the quantity Of goods
exported this year will contribute
little to an expansion of business ac-
tivity in the United States this
/
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
NATIONAL BODY
SUGGESTED TO
STUDY BANKING
Almost Unlimited Power Is
Feared in Dominant Party
Under New Law.
By Times Special

NEW YORK, May 1.-Character-
izing Title II of the proposed Omni-
bus Banking Bill as political bank
ing" DR.. Walter E. Spain, professor
of economics at New York Uni
versity and member of the National
Advisory Council of the American
Liberty League, has issued a strong
plea for the appointment of a
National Commission on Money
and Banking to study the banking
system of the country.
He also urged every one to bring
as much pressure to bear on Con-
gress as possible not TO vote in favor
of Title II, during the present
session. The proposed law, he as
serted would give the party in pow
er the opportunity to do almost
anything"
Give a political party control CT
the commercial banking system Of
country and it can control its citi-
zens to any extent it DESIRES" he
declared. THE freedom of the peo-
pie can disappear overnight.
views Held taIlaClOuS
Despite the general denialS of
such interest on the part of those
who advocate the passage of Title
II, and despite what may appear to
be plausible arguments advanced in
behalf of some of its features, wise
and prudent people will not permit
such powers to fall into the hands
of any political party
Though the greatest imitation
and the greatest aftermath OF SUI
fering were experienced by those
warning countries in which the CEN
trail commercial banks were brought
under direct political control, adj
vocates of political banking would
have us adopt such a system as
means of fostering a business re-
covery.
"They do not understand that the
only certain way a currency can be
made to cause a rise in prices is to
initiate it and that this leads to sub
sequent disasters. The unSound rise,
caused by currency imitation, can
end only in business collapse, or
in reputation of the currency, or in
its devalution-all of which involve
serious losses for people.
Isolated Market Aimed
"They are planning to provide the
government with an isolated mar
ket in the banks at low interest
rates, rather than force the govern
ment to go into the open market for
its funds as other borrowers do.
"It is not the function of any
banking system to give the credit
of any borrower a higher rating
than it deserves: and yet this is
precisely what the political bankers
propose shall be done with the
credit of the government.
1.-The advocates of political bank
ing also are providing the means By
which all sorts of long-term illiquid
assets can be dumped into the Fed
era1 Reserve banks and thereby con-
verted into deposit currency or le-
gal-tender Federal Reserve notes.
This, too, involves currency inf1a-
ton"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
DECISION NEAR
ON DISPOSITION
OF FLA PLANS
Three Courses of Actor
Open After ReSigna-
ton of Moffett.

~ tWfs = FfffFf
WASHINGTON. May 1.-Presi-
dent Roosevelt is expected 20 de-
eide within few days what to do
with the Federal Housing Admins
tratiOn.
The resignation OF James A. Moi
felt as administrator opens three
possible courses of action to the
White House:
/. The President NAV continue The
Moffett policies in regard to insur-
ance of loans for modernization,
construction and converted mort
cages. and let Mr.. Moffett name his
own successor.
?. In view of the overlapping
functions of FILA and the Home
Owners Loan Corp, the President
may combine the two agencies. with
Chairman John A. Fahey of the
Home Owners Loan Corp. in charge.
3. He may revert to his original
housing program. call together the
Walker housing committee and re-
vamp the entire FILA plan.
Canaday Is Mentioned
Should the first of these possi-
bilitles be adopted. the new admin
iStrator probably would be either
Stewart Mcdonald, executive FILA
assistant; Ward NJ Canaday. chief
of FILA public relations; J. Howard
Audrey and Albert L. Dean. deputy
administrators, or an outsider with
favorable business and financial
record.
Such an appointment would mean
continuance Of the present FILA
policies which have produced since
last August nearly S6O,OOO,OOO in in
Sured home modernization 'oans and
S20000,0OO in insured loans for new
construction and converted mort
cages.
If the third possibility were cho-
sen, however, the President might
choose as administrator either
Frank c. Walker, chairman of the
Presidents first housing committee;
Charles Edison, son of the late in
ventOr, CT Corrington Gill, deputy
relief administrator.
Difference Under MOffett
The FILA under Mr.. Moffett has
been far different from what the
Walker committee had in mind
when it lobbied the National HouS-
ing Act through the closing days of
the last Congress.
Principal differences between the
original detectives and the Moffett
administration rest in the fact that
the latter has not brought about a
reduction in building construction
and labor costs, and has not imme-
diately opened up the nations 20
billion dollar home mortgage mar
ket.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
An 11-BiIIiOn Trade
Shows Signs of Life

The construction industry
used TO be an Mathematician
a-year business that gave work
to five million men. The de-
preston very nearly wiped it
out. and it is still only a
wrath OF its former self. But
there have been signs in the
last few weeks that the pa
tent is beginning to sit up and
take nouriShment again.
What are the prospects for a
reawakening of the building
industry in America? What are
the obstacles. and what is the
New Deal doing about them?
General recovery depends in
large part on the answer.
The problems and prospects
Of housing are explored in six
Illuminating articles by Ruth
Finnev Of the Washington Bu-
reau of The indianapolis Times,
the first of which will appear
on the Financial Page to-
morrow.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
TO BUILD NEW PLANT

By ines Special
TORONTO, May IA new distil-
lery at Baltimore, Md, will be
erected by Joseph L. Seagrams and
Sons, Inc, it was disclosed here to-
day. Ground for the building will
be broken within month, it was
said.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01

CHICAGO. MAY -Eggs-Market. I'M
24',c. fresh graded frsts 2417c current
receipts. % &c dirties. 22i,c: checks pc
Butter-M Market. weak: receipts 1877
tubs: extra firsts t90-9lis scorel. 27ieM
2Sc. extras ls2 scorel 2Si4c: hrsts SO
s9i2 score. 26 2G26S4c: seconds tS6-s7i :
score 26c; specials. 2s'4 29i &C: stand
ards. 26'4c Poultry-Market, steady; re-
ceiptS. % trucks. no cars. l car due;
CapOnS. 26G &c. hens. 49, G2lc; broilers.
22U 23c; fryerS. 2SG25c: old rOosterS. 14ie
N15i2c. ducks. l4T2lc; geese. 12c: Leg
horn hens. 13d1Si2c: turkeys. 16G lSc:
Plymouth Rock fryers. 23iec. Cheese
Twins. 15i4ml5i2c: daisies. 15'4 Ice:
LonghOrns. l5746l6c. Potatoes old stock
Supply LIBERAL demand and trading
slow: market dull and weaker. WiscOn-
sin Round Whites. 75c; Michigan Round
Whites dealers asking, 75c; Idaho Rus
set. 81 75G2; commercial $3.50 New stock
Supply moderate. demand and trading
slow: market steady; Louisiana Bliss Tri-
umphs - 65M265. Alshama Bliss Tri-
umphs. SO. Arrivals 70, On track $50,
shipments $50.
CLEVELAND. May -Butter-Market
barely steady: extras. SIC; standards,
52i &C Eggs-Market, weak; extra whites
% &C. current receipts csc. Poultry-Mar-
ket firm: heavy fowl. 2oG 2ic: medium
fowl 2Ic: ducks young 2SN2 ducks
old 1sc Potatoes-Maine Sis a 100lb
bag: Ohio best mostly 65G 75c: Michigan.
soc; Florida hastings No. l. 81 barrel.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
BUILDING OPERATIONS
CLIMB SHARPLY HERE
Valuation of Permits Up to SIS2,114
in April % Week.

A sharp expansion occurred in
Indianapolis building operations last
week as contrasted with the CORE
spending period last year. according
to figures issued by William F. Hurd,
city building commissioner.
A total of 1877 permits were issued
during the week and represented OPP
erations having a valuation of S132.-
ia. it was disclosed. In the CORE
spending period last year the num-
Der of permits was TIA and the val
uation was S34,056.
The total value of building op-
erationS conducted this year to date
is S670.326. against S4O2.O20 in the
corresponding period last year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
ASSETS SHOW GAIN
Quarterly Income Shares Resources
Rise S1,696,336 in Quarter.
By Times Special

JERSEY CITY, N. j., May l.
Total assets of $31, 648,645, with in
vestments taken at cost, for the
quarter ended April Is, are revealed
in the statement of Quarterly In
come Shares, Inc, mailed to stock
holders today. This compares with
total assets of $29 ,952,5O8 at the end
of the preceding quarter, a gain of
$1,696,336.
The total distribution of $765, $40
being paid to stockholders today,
which is at the rate of &c per share,
is the largest amount that has been
made for any quarterly period to
date.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
SERVICES ARE EXTENDED

BIZ ImeS NpecldI
CLEVELAND, May 1.-The Great
Eastern system, bus operating COM
pany, announces the Inauguration of
an arrangement whereby bus travel
ers may secure from Western Union
Offices rate and schedule information
as well as ticket orders
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01

CHICAGO. Nav i-ApnIes- Michigan
Spies. bushel. 81 so. Illinois Jonathans.
81 50Gi75: Illinois willow twigs 81 25sl
l so carrotS-Western crates s dos
50. asa 26S. TurnipS - Illinois Michigan
bushel. 2sd soc. Sweet Potatoes-Ten-
nessee. bushel 90GSl Indiana 81 lie. tuce
Western crates. doz. s425I450 -eaf
Beans-Florida. buShel 81 25alS5. Cabbage
California. crates. So Mississippi. s3H
SIS Onion Sets-Illinois Michigan. a
bushel sacks. S2.50a3 yellow Peas
California. hushel hampers $500 IS.
TomatoeS-Florida. Jugs. siI2. Mexican.
Jugs sI7SG So Rhubarh-Illinois s0-Ih
cartons. Siml.lS. Spinach Arkansas.
hushel. soc 81, Illinois. bushel. 75c 81.
Asparagus-ulinois, sectional crates. dog.
e5c9 sl.ls.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
STEEL PAY ROLLS RISE
March Total Nearly 6 Per Cent
Ahead of Preceding Month.
By Times Special


NEW YORK, May 1.-March pay
rolls of the American steel industry
aggregated $46,764,185, an increase
of nearly per cent over the Feb
ruary total of $44,212,859, the Amer
lean Iron and Steel Institute re-
ported today.
For the first quarter of the year
pay rolls amounted to $135, 305, 596,
contrasted with Sill, 565,7O3 in the
came period last year. Employment
in March increased to 425, 189, mark
ing the sixth successive monthly
gain.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
EARNINGS INCREASE
Bv Times Specinl

DETROIT, May Met earnings
of the Kelvinator Corp. during the
first half of the fiscal year amounted
to s66975, compared with a loss of
S36,419 in the same period of 1884, it
was announced here today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
NeW York Curb
(By Abbott, Proctor & Paine)
Produce Markets

Delivered in indianapolis prices: Heavy
breed hens 16c: Leghorn hens. lac;
broilers. lbs and up 2Oc; Leghorn broil-
ers lbs and up fun feathered. 16c; Leg
horn broilerS, > lbs. and up full feathered.
16c bareback broilerS 13c: cocks and
stays. &c. Ducks. full feathered and fat,
&C. geese, ful! feathered and fat. &c. All
classes of guineaS. 15c. No. strictly fresh
country run eggs. loss of zoe. Each full
case must weigh 5 lbs. gross a deduction
Of loo a pound under SIS lbs. will be made.
Butter-No. /. 336 SAC; butterfat, 2Sc.
Quoted by the WaGiey Co.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
Hides and Skins

Hides-Green country cows and steers
4i2c fat; green country bulls and Clues
&c fiat; green country calf hides. Sc, fiat:
hides with full heads. shankS. names and
tails. 50 so: medium size 50. All MOI 2
grade horse hides. soc. less; CLUES .ar~
5d5l2c: No. at value. Yellow grease
AZ q SC: dark grease 4M4lze.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
L. & n. IMPROVES SERVICE

The Louisville 81 Nashville Rail
road, some time druing the current
month, plans to place air. conditioned
sleeping and dining cars into serv-
ice on its various lines. it was an
nounced here today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01

solescent pla n t
equipment. 1t IS
known that this
is large in the
textile field.
T hose familiar
with conditions
in the industry
say that If an
tiquated ma
chinery were dis
posed Of t h C
question OF over
capacity " o uld
no longer exist.
And this con-
riitiOO does not
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01

pertain only in the textile heldS;
1t exists in nearly all lines. OBJ
viously it is a drag on recovery,
for it makes for high prices, low
wages and unemployment. II makes
competition in the world markets
virtually impossible, particularly in
view of the fact that processing
taxes and other emergency meas
ures already add materially to the
cost Of production.
TNASMUCH as the government
u has decided TO come to the aid
Of the unemployed, it might be we'll
worth it's while to give special
thought to this question Of obSo-
lescent industrial machinery. 1t
might be able to work out some
sort Of arrangement whereby it
could buy up equipment, provided
the owners agreed to spend the
proceeds for up-tO-date machinery.
It might even go joint account with
the machinery manufacturers IN
financing such additional new
equipment as might be considered
essential to healthy industrial con-
ditions.
Such an arrangement would
benefit in several ways. The new
machinery manufactured would
provide employment for a great
many people When installed the
new machinery would make it pos
sible to reduce prices and increase
consumption. With the lower prices
we might be able to win back some
Of our foreign markets, which
would add additionally to employ
ment and absorb our surplus raw
products. The nations industrial
0sitiOn would be materially i'm
7 owed and the people would be
Ole to enjoy more of the benefits
of science and invention.
The cost of such a program
would not be excessive in contrast
with the benefits to be derived,
provided it were carried out with
reasonable care. Moreover. in all
probability this cost would be re-
turned in a short time through the
increased taxes it would produce.
DAYMENT for the old equipment
Il could be made on the basis OF
somewhere between the value at
which it is carried on the books OF
the owners after depreciation and
its value at current scrap prices.
An arrangement also probably
could be made with the new equip
ment manufacturers whereby half
of the profits in excess of 1884
earnings would be returned to the
government to help pay the cost
of the project.
At a time when many other
countries are eXerting q paternal
interest in their industries the
United States can render itself but
a poor favor by taking steps which,
either by increasing the debt bur
den or otherwise, interfere with its
industries. And such steps are
hardly justified so long as other
means are at hand by which the
same results can be accomplished
without injurious effects.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
u. S. GETS EXTENSION
ON GOLD CLAUSE CLAIM
Period of 16 Days Allowed in Which
TO Answer Dixie Terminal Case.
BIZ Times Speciq

By Times Special
WASHINGTON May IA 16-
day extension until May 3 has been
granted the Federal government by
the Court of Claims within which
time it must file its reply to the
claims of the Dixie Terminal Co.
seeking payment from the United
States Treasury of SLOT on Liberty
bond coupons.
The government had sought 30
day extension to May %.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
Wall St.
Surplus Machinery
Elimination Urged
to Aid Trade.
BY RALPH MISUNDERSTOOD
Times Special Writer

NEW YORK, May Gold
~ thwait H. Dorr, president Of
the Cotton Textile Institute, sdg-
gested recently that all surplus
manufacturing equipment in the
industry be removed. He urged
this step as a meaus to eliminate
the "overcapacity' in the trade and
thus help business.
What Mr.. Dorr probably had in
mind was the elimination Of OBJ
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
(By James E. Kenneth
LOCAL CASH MARKET

City grain elevators are paying SO cen
for No. soft req wheat. Other grade
on their merits. Cash corn No. yellow
81 cents. and oats AZ cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
Foreign Funds AUailable
for Purchases Here off
to Ne70 Depression LO7C
Expansion in Merchandise Exports in 1884 Almost En-
tireIy the Result Of Shipments of Gold, Alex
ander Hamilton Institute Says.
By Times Special

NEW YORK May Funds supplied by imports in 1884 and there
available for the of merchandise the
lowest level of the depression analysis
Hamilton Institute unusually
payments
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
N. Y. Bonds

Reprinted from Yesterday
tBY Abbott. Proctor 81 Panel
DAILY BOND INDEX
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
Promoting the Farms

On May and representatives Of agriculture, IN
dustry and science CH hold Joint conference at D{ar
born Mich 1ch the idea Of Developing plan to aid in
Increasing the of farm products BIZ industry.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01

WASHINGTON. May 1.-Government ex-
penses and receipts for the current fiscal
year to April o. compared with the cor
responding period of the previous fiscal
year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-05-01
SHEEP AND LAMBS
Receipts. 500
(Shorn Basis)

Lambs f90 lbs. DOWN., good ana
90-i2O lbs. good and choice. >. 50Oa 400
Sheep:
(130-150l Good and choice o.. 2509 3.75
All weights. common and me-
Evening star., 1935-09-15
THIS WEEK
Honey O'Brien
Continued from page fWO
Continued from page f,pO

He's not so White Meat" says.
Can't you pick out good name up
nearer the Wish-Bone?"
We never got any further on that
because lot Of folks that was standing
on the sidewalks began to cheer And
they kept right on cheering.
Il wonder why they're doing that,
| saws.
Search met" says Buzz.
Then. all of a sudden. he gave a
kinda jump like he'd been shot.
Great heavens" he says. You don't
Evening star., 1935-09-15

suppose Salute EN-. Baby, the
way Eddie taught you"
Salute who?" says.
The crowd" says Buzz.
So did.
And then maybe they didn't turn
loose Honest, those cheers We heard
before was just a whisper.
This is getting good" | says.
"Good?" says Buzz. IT'S kolossal!
They think you're the Prince. Give
EN- d bow. Baby. Give 'em bow"
gave 'em the best bow knew how.
Evening star., 1935-09-15
Magazine Section

Another story in the spot
light of world news - the
stark. gripping tale of a man
who wished he'd never gone
into Abyssinia. Written by
p. {. Wren. author of Beau
Geste." Beau Sabreur" and
other best sellers.
Evening star., 1935-09-15

In animals, as in humans,
the one love that reigns su-
preme is mother-love. Frank
Buck of Bring En- Back
Alive" fame relates the stirring
account of his capture of a
mother leopard and his search
for the lost cubs.