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

refrigeratorS and the cooling appli-
ances in public buildings alone have
Increased the electric load in no
small degree. But dlscounting this
development, the figures still furnish
positive proof of better business.
The low prices for power COM
pany stocks is due in large measure
to fear of Government competition
in the sale of electricity. They have
been affected also by the smaller
profits due to reduction in rates in
some sections and to high operating
costs under the NRA. Inability to
make satisfactory arrangements for
refunding maturing obligations has
made it necessary to conserve cash
that might otherwise be used for
dividends, and that also has had an
adverse effect on prices.
TINE steel companies have been
Il noted for their inability to see
eye to eye with their employees. Con-
Sequently, it is most interesting to
learn that the Inland Steel Co. is
laying plans to give all of its men
vacations with pay. Few concerns
in any line of business give other
than their Office workers and eX-
ecutives time off with pay. Perhaps
the Inland officials are becoming
more socially minded, or it may
be that they feel the vacation idea is
the best way to promote company
unions and discourage utilization with
national organizations.
CENATOR CARTER GLASS of
y Virginia seems to have stirred
up a hornets nest With his criticism
of the Federal Reserve officials in
connection with the interest rate
order on bank deposits which went
out recently. Backhanded compli-
ments have been flying thick and
fast ever since.
The thing which impresses Wall
Street most about the affair is the
fact that many of it's people have
been claiming unconstitutionality
and foul" on several of the acts
of the administration without get
ting a tumble, but a senator has
only one slight criticism and he gets
more attention than a drunk in
church.
Probably the Senator's standing IS
slightly better than that of the boys
below Fulton-st., but then, again,
maybe his status is measured more
on his ability to make trouble.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
INDIANAPOLIS BUILDING
SITUATION IMPROVES
Vacancies on Oct. 1 Show Decrease
Compared With Year Ago.

A slight improvement was shown
in the Indianapolis building Situ-
alton during the current year. &C
cording to George w. Klein, chair
man of the rental committee of Ma
tional Association Of Building own
erS and Managers.
Unoccupied buildings in the city
on Oct. l of the current year
amounted TO 20.99 per cent, COM
pared with PAS per cent on the
corresponding date Of the previous
year. collections of delinquent rents
in indianapolis during the year
showed an increase of approximately
so per cent. Mr. Klein stated.
Demand for building space con-
tinued strong throughout the year
and only a slight change was evil
dent in rental charges. the survey
showed. The percentage for store
vacancy in the downtown district
during the year remained about the
same as in 1888. Mr.. Klein reported.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01

Sales totaling about 322,-
100000 shares were the small
lest since 1924, and less than
so per cent Of the 1888 total.
Turnover of shares listed was
only Is pr cent, or the smallest since
records dating back to 1897 have
been kept. Turnover of listed shares
back in 1914 when the market was
closed more than four months be-
cause of the war was 81 per cent.
AS 1884 drew to a close, market
traders were more hopeful. But
they continued to operate eau
tiously, since there were many I'M
certainties ahead. The major one
was the new Congress which was
made overwhelmingly Democratic
at the Nov. 6 election.
Business Sentiment Better
Business and banking sentiment
was better than that of Wall
Street, although leaders in both
branches we're apprehensive over
the Governments spending pro-
gram; Government competition
against private enterprise; work re-
lief which bankers said would ruin
the country's credit and preclude
an attempt to balance the budget;
and taxation. Wall Street joined
in these worries and added n Of
it's own-The Securities Exchange
Act of 1884.
This year for the first time in
all history, the security markets of
the United States have come under
Government regulation. Results to
date of the regulation have been
better than anticipated. The COM
mission of five appointed by the
President to administer the act has
been acting in a manner that is in
tended to reaSsure market operators,
although many of the rulings and
the uncertainty of others more
drastic have tended to curtail oper-
ationS.
Wall Street had feared dire re-
suits from a regulatory body. 1t
had spread this fear throughout the
nation, and hence when the COM
mission actually gave hope it would
not operate to kill the markets it
was difficult to get back the lost
business. The Stock Exchange re-
Gently launched an educational
campaign to help bring back some
of the lost business although it
asserts that was not the prime
reason for the move. Individual
stock exchange houses and associa-
tons Of stock exchange houses also
are making efforts to stimulate
market activity.
Market Needs Business Aid
Real market stimulus, however,
can only come from pickup in bust
ness. Thus far there is a fair
trend in that direction, but the
heavy industries are tagging. 1t is
estimated that more than 33 per
cent of the unemployed would be
returned TO JOBS II Cne gOOOS
group swung into action. The only
thing retarding the group, accord
ing to one big industrialist is or
derS, and the reason the orders are
not forthcoming is simply that con-
fdenceA has not returned Sufh-
GENTLY.
Stock traders lost the imitation
factor as a market aid when late
in January the Government adopt
ed a gold bullion standard with
gold at $35 an ounce, making the
dollar worth 59.O6 per cent of pre-
bank holiday parity. Prices in the
stock market had been rising in
January, however, a decline set in
that carried through to August.
Then came irregularity until cleo
ton, after which a fair recovery
set in.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
new FINANCING
UP 81 Per CENT
Capital Market ReOpened to
Railroads and Other
Corporations.
By United Press

BY CHltC0 FTCSS
NEW YORK, Jan. IA boom in
the investment market during 1894
brought volume of new securities
offered to the public back over the
bil%lion-dollar mark and promised
further expansion of new financing
activities in 1885. The 1884 gain
amounted to 81 per cent over 1888.
While the most striking develop
ment was an amazing recovery in
municipal credit throughout the
country, a hardly less important
feature was the reopening of the
market to major financing opera
tons by railroads and other corpor-
atiOnS.
The largest railroad issue in years
was f1Oated in July in the form Of
$50, 900 900 Pennsylvania Railroad
AIS, due 1884. 1t was followed two
weeks later by a like amount Of
Baltimore & Ohio AIS, due 1899.
Investors responded to both, as we'll
as some smaller carrier fotations.
Similar success crowned efforts
to market large public utility is
sues.
State and municipal issues totaled
$671,652,413, against 1894, 722, 403 in
1898; railroad $113,210,OOO, against
$12, 900 900; public utility $685. 81 900,
against ST., IA, 900, and industrial
$8,6 0 900 against 500 900.
Municipalities and states all over
the country borrowed at low inter-
est costs as their credit ratings were
boosted by better tax collections and
slashing of budgets. Bankers were
eager to bid for issues. Scarcity OF
high-grade municipal bonds sent
prices up to highest levels Of the
present century. Strength spread to
lower grades.
New York City was able to bOr-
row short-term money at the cheap
est rates in its history. Its credit
standing improved to enable it to
float the first long-term bonds since
1881. The State of New York OBJ
tanned $50, 900, 1000 at record low in
tereSt of 1.8343 per cent.
Chicago borrowed on corporate tax
warrants at an interest cost of only
5 per cent, the first time since the
World War the city had been able
to market an issue of this kind at
less than 6, per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01

did a couple of years ago. Things
are moving along even though the
drought hit us farmers pretty badly.
I don't think farmers should
prophesy too much about the flu
ture-too much depends upon the
weather-but We'll hope for the
best.
Harry Harper Negro, 81, Of 913
N. Senate-av, Union Station red
cap)-Things haven't been very
good this year. It's been hard to
make both ends meet. OF course,
1 am hoping for better conditions in
1885, but I honestly don't know
whether there is much chance, but
here's hoping anyway.
Kenneth Gordon CIT, of 2035 N.
Meridian-st, saleSman)-Ive done
fairly we'll, not as well as I have
done, but 1 count on doing on a lot
better next year. Conditions seem
to be improved-as least people ap-
pear to have more money to spend
than they did last year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
BUTTER PRICES REACH
NEW T~HREE-YEAR HIGH
Fine Grades Selling at 31H Cents
a Pound in Chicago.
By United Press

By United Press
CHICAGO, Jan. 1.-Butter sold at
the highest prices in three years on
the nations mercantile exchanges
yesterday, hitting the peak of an
irregular advance that began nearly
a year ago.
Fine grades sold, at 31H cents a
pound, or double the low of a year
ago. The price on Dec. 10, 1888, was
1914 cents. Markets in New York,
Boston and Philadelphia reported
similar high prices with some
choice grades hitting 1914 cents.
Despite the new high prices dairy
farmers were reported to be con
tinuing their program of curtailing
production because of high feed
prices. Surplus storage stocks were
greatly lower than a year ago.
Government relief agencies will
enter the butter market this week
for 1000, 900 pounds and dealers saw
a possible shortage of supplies if
relief needs are as great as a year
ago.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
MINNESOTA LEADS IN
1888 BUTTER MAKING
States Largest Single Industry
BOOmS to Record.
By Times Special

By Times Special
ST. PAUL, Jan. 1.-Minnesota's
largest single industry, butter
making, doomed to a new high both
in output and revenue during 1888,
a report by R. A. Trovatten, State
Commissioner of Agriculture, stated
today.
Again leading the forty-eight
states in butter manufacture, Min
nesota produced BOT, 100000 pounds
that were sold for s63 ,8O0,O 900 Sales
of milk fluid, ice cream and other
milk products brought the total in
come from dairy products up to
S155, 600, 900 for the year.
The state consumes about one
fifth Of it's butter production, the
Trovatten report said. The re-
mainder is shipped to eastern mar
kets. Profits from about tWo-thirds
of the production goes directly back
to the farmers through the states
853 cooperative butter factories.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
RECEIPTS
SHIPMENTS
ST0-C0KE DEVELOPS
L0W-PRICED BURNER
Automatic Heating Unit Will Burn
Both Coal and Coke.

The Sto-Coke Manufacturing Co.,
Inc. 1909 East Michigan-st, for the
past few years has developed a low
priced automatic coke and coal
burner that will burn 10th coal and
coke. so that the consumer may
have his choice in the fuel he
wishes to use.
The engineering department has
put their endorsement on the
Cadet Automatic Burner, which Of
hcialS claim to be absolutely free
from mechanical cares.
The company is planning a pro-
duction schedule equal to possibly
any manufacturer Of automatic
heating devices.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
Stock Market Displayed
Increased ActiUity After
Passing of Election Day
Sentiment in Wall Street Reached New Low for Decade
Before Holiday, Then Experienced
Moderate Revival.
BY ELMER c. Waller
United Press Financial Editor

E YORK, Jan. 1.-Sentiment in Wall Street, which
fuctuates with stock market activity, made a new low for
more than a decade before election day, and then picked up
meagerly along with a moderate REVIVAL in business that
brought with it some increase in stock sales.
The net result of the year for the stock market so far
as a general price average is concerned was just above zero.
Leading issues registered declines, while some special issues
and preferred stocks made gains.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
WORLD SEEN ON ROAD
TO RECOVERY FOR 1885
New York Stock Exchange Head
Release Annual Statement.

By United Press
NEW YORK, Jan. Evidences
that the world is definitely on the
road to recovery as 1885 dawns were
seen by Richard Whitney, president
of the New York Stock Exchange,
in his annual review statement.
THE business situation today con-
tains certain definite factors" he
said, "still almost passive to be sure,
which tend TO promote business re-
covery. The first of these is the
abundance of funds in Jul banks
and available for investment by in
dividuals. The banks are competing
for short-term first class paper to
such an extent that the interest
rate has almost disappeared. 1t is
a phenomenon evident only in
markets enjoying an excesa of
funds.
THE recovery significance of this
factor is in the availability of this
capital for active business purposes
when business discovers safe and
profitable opportunities for its util-
ization," Mr.. whitney stated.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
FARM INCOME SPURTS
Illinois 1884 Cash Return Seen
Up S32.stf,OOO.
By Times Special

ID 7 TWTJo EVUITWT
SPRINGFIELD, Ill, Jan. In
come of Illinois farmers from seven
major crops in 1884 is estimated at
$181, 379 900, an increase of S32,847,-
900 over the value of the same crops
last year, according to A. j. Sur
raft, statistician for the state and
federal departments of agriculture.
The increase in income is due
chiefly to the rise in price for corn
this year,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
PROFITS, WAGES CLIMB
Farm Incomes Show Sharp Gains
Over 1888 Figures.
BIZ Jnltfd PftSS

WASHINGTON, Jan. Indus
trial profits, wages and farm in
comes increased sharply ove 1888
figures during the first nine months
of 1884, a Federal Reserve bulletin
showed today.
The cost of living likewise in
creased, wood prices rising 81 per
cent above the low in April, 1888.
The report noted growth in incomes
from construction and in railroad
pay rolls. Prices Of coal, metal,
chemicals. rubber and miscellaneous
products rose, while textiles, hides
and leather fell.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01

During the company's fiscal year
ended Aug. 81, 1884, cash and Sc
curities increased $1,200,000, but in
ventories were about $650,000
smaller. Net working capital gained
1000, 900, while profit and loss sur
plus increased 100000.
On Aug. 81, 1884, the current ratio
was about 71a to 1, while cash items
alone we're exactly twice total cur
rent liabilities. The book value of
the common stock was $15,21, a SLIP
increase for the year.
Wesson Oil and SnoWdrift has
been able to operate at a profit
through depression years, although
only II cents was earned in the 1888
fiscal year, but $2.03 was earned the
last fiscal year.
The common stock is or. a 50-cent
annual dividend basis, and in addi-
ton so cents in extras was paid dur
ing 1884, and another cash extra of
3715 cents is payable Jan. 2.
The Wesson Oil and Snowdrift Co.
was incorporated in 1925 in Louisi-
ana. Both classes of stock are listed
on the New York Stock Exchange
and the New Orleans Curb. At a
current price of around 1914 the
stock sells to yield better than 3 per
cent on the basis of a 50-cent regu-
lar and 50-cent extra dividend. It
sells for nearly 16 times earnings.
(AIl rights reserved. Winchester Institute
of Finance. Winchester. Mass.)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01

c m p SIOCK
prices, which are
near their lowest
figures since the de-
preston began.
1t is true, of
course, that total
electrical output
can not be meas
ured against indus
trial operations, in
aSmuch as the do
nestle use of cur
rent has increased
materially in recent
wears. Household
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
TOY VOLUME A

Recorders on toys indicate that re-
tail volume on toys and playthings
was the heaviest in four years, &C
cording TO recent statements by
James L. Fri. managing director of
the Toy Manufacturers Of the q.
S. A.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
TEXTILE RISE IS SEEN
Active First Quarter Is Foreseen BY
New York Executives.

NEW YORK. Jan. Market
executives here vision an active first
quarter for the textile industry.
While it is hot believed that the
volume will exceed that of the cor
responding period last year. addi-
tional business for the balance of
the year is expected TO bring the ag-
gregate TO IS per cent ahead OF
1884.
Fall suitings lines will be ready
about March and production on
these styles will take up the slack
caused by the end of the spring
business, il was commended.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
Wall Street
BY RALPH HENDERSHOT-
Times Special Writer

NEW YORK, Jan. 1.-The cleo
~ trio power figures for the week
ended Dec. % are especially inter-
esting for two reasons. The close
approach to the all-time high for
any corresponding week established
in 1929 reflects the continued i'm
provement in business. The high
level of output, moreover, presents
an unusual contrast with power
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
Average Citizen Takes
Attitude of Optimism
Little Business and Man on the Street Vision
Favorable Year During 1885.
BY FREDERICK G.. MATSON
Times Financial Writer

What about Little Business? What about the man OF
the street?
Opinions regarding the state of the country have beer
voiced the last few days by financial and industrial leaders
of the nation. Big business chiefs have made their annua
statements on affairs during the last twelve months and have
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
SOVIET STEPS
UP PRODUCTION
Of MACHINERY
Increase of 28 Per Cent
Registered in First
Nine Months.
BY JOSEPH II. BAIRD
United Press Stad Correspondent

MOSCOW, Jan. Rapid growth
in production of basic materials
such as iron and coal, combined
with an increase in consumers
goods proved the outstanding in
dustrial achievements of the Soviet
Union in 1884.
In the first nine months the
Commissariat Of Heavy Industry
stepped up production % per cent.
From 250, 900 to 27O,000 tons of coal
were mined daily. 1t was expected
the yearly production would exceed
10000, 900 tons as compared with
10000, 900 tons, the high mark OF
prerevolutionary years.
Production of pig iron rose to
10000 tons daily. This previously
has been the most backward Soviet
industry. 1t was expected the yearly
plan of 10000, 900 tons would be full
filled. Also production of steel
reached a new high, 10000 tons per
day, mark.
Light Industry Impeded
In light industry the 9 months
output increased by 81 per cent in
comparison with 1888, fulfilling,
during that period, 69.5 per cent Of
its 1884 plan. Light industry a
impeded, however, by failure of the
cotton collections in Central Asia.
On Nov. 10 collections had reached
only go per cent of the plan.
At the end Of the third business
quarter the silk industry had full
filled its yearly plan by 72.9 per
cent; the linen industry by Cts per
cent; the knitting industry by 70.6
per cent and the cotton industry by
70.3 per cent. Thus all were below
IS per cent, which would have been
the normal fulfllment.
The number of workers in the
first eight months increased 1913 per
cent in comparison with 1888. Aver
age monthly wages increased 14.4
per cent.
Prices for vegetables in collective
markets decreased 34.7 per cent,
while cost Of meat and milk prod
uctS fell 20.9 per cent. Bread, the
staple diet Of the Russian peasant
and workman, doubled in price,
Black bread now costs 70 copecks
per loaf; white bread, 1 rouble so
copecks.
Man Output Higher
Production per man increased in
the first eight months by Ill per
cent as compared with 1888.
In the first three-quarters Soviet
farms we're supplied with $1,000 new
tractors and 1900 combines. Some
$3.50 trucks and 2,782 passenger cars
were produced.
The average fulfllment of the en-
tire second year of the fve-year
plan for the first three-quarters of
1884 was 69,2 per cent.
While figures for gold production
are never made public by the Soviet
Government, the United Press I'M
derstood about $3.50, ZOO, 900 worth of
the yellow metal would be mined
this year. Soviet gold reserves we're
estimated at about $780, 0O, 900.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
STEEL OPERATIONS Squirt

bU LNiItU TFf8s
NEW YORK, Jan. Steel oper-
ations registered their 18th consecu-
tive increase this week, soaring TO
1872 per cent Of capacity, compared
with 35.2 per cent a week ago, an
increase of four points or ia per
cent, the American iron and Steel
Institute reported today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-01
Trends
Washington Center
Of Interest as
Year Opens.
by VINCENT s. LYONS.
Times Financial EDITOR

TO-DAY is a holiday in all parts
il OF the country. but while the
business man is enjoying his respite
from the days knottier problems
it is doubtful whether he IS as
unconcerned as the festive occasion
of the day would warrant. 1t Is
with some trepidatiOn that ne
realizes that on Thursday a new
Congress goes into session.
The meeting Of Congress never
was viewed as a favorable sign by
business and industry. Usually these
interests wait with bated oreatn
while the legislators of the nation
are in session. This is particularly
true Of the stock market COM
munity. which backs and fills within
a narrow range while all the &C
tivity is going on at the capital.
So many important items will
come up for action over the next
few months that the session start
ing Thursday is one Of the most
important in many years. The chief
o~ccupation of the financial man is
wondering whether the course OF
events over the next few months
will launch the country along routes
Of imitation.
TINE bonus question is the major
problem 20 be taken under
consideration in the first days OF
the meeting. President Roosevelt
only yesterday declared that he was
against immediate payment OF the
adjusted compensation certlhcateS-
But quite a few Congressman are
lust as adamant that the money
should be voted this year.
Public works, relief, additional
funds for the Home owners Loan
Corp. Job insurance, revisions OF me
National Industrial Recovery act,
labor problems and numerous other
highly controversial subjects IN
doubtedlv will be pushed so that
definite action can be taken on
them.
The new Congress is known to
contain many individuals who VIII
expend every effort to bring ABOUT
imitation. opposed to them are n
Senators of the more conservative
type who are violently against any
retaliation which would have a
tendency to shake the nations
money in international markets.
DRESIDENT ROOSEVELT him
self has given indication that
he would like to hold to a mlddle
course. The question at the present
time is whether he can weld TO-
oether a large enough following 10
impede the passage of any radical
legislation. Consequently, there IS
much interest being displayed over
what he will say in his address to
Congress. =,
Unmistakable signs of betterment
have appeared on the economic
horizon in the last few months. It
is believed that the President will
point to this improvement in his
message in an endeavor TO ward off
the introduction of any bills whicG
if passed. would have a tendency to
obviate the gains already made.
There is no denying, in view Of his
recognized ability to win over
friends, that the forcefulnesS of his
appeal will have a lot to do with the
result.
Undoubtedly the business man at
his desk will keep one eye on the
work on his desk and the other on
the news from Washington. He
realizes that what goes on in the
capital during the next few months
will be of distinct interest to him.