davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
LUCKEY NAMED
TO HEAD STATE
INSURANCE BODY
Recodification of Laws Is
Praised by Interests at
Conference.

approximately 500 insurance
executives, agents and brokers
which met yesterday at the Indian
apolis Athletic Club lauded state
administration efforts to recodify
the insurance laws in cooperation
with insurance interests. The
changes are to be incorporated in
bill, which is expected to be intro
duced within the next week.
Herbert A. Luckey of Indianap-
oils was named president of the
Insurance Federation of Indiana to
succeed R. C. GrisoWld, also of this
city.
Other officers named are as fol-
lows: Vice presidents, w. j. Hen
shaw, Homer L. Rogers, John E.
Messick and James Curtis, all OF
Indianapolis; Ralph G. Hastings,
Washington; Chris zoercher, Tell
City; Verlin j. Harold, FIT. Wayne;
treasurer, A. L. Riggsbee, Indian
aDOllS, anu S6CICGdI -IOu11OCly
Joseph G. Wood, indianapolis.
The following we're named men,
bers of the federation's advisory
board, Joel T. Traylor, Russell T.
Byers, E. A. Crane and Milton FL
rod, all of indianapolis; Austin w.
Suits, Fit. Wayne; James Black,
South Bend, and Herbert Cramer,
Terre Haute, all representing life
insurance companies; Roy P. Elder,
L. j. Fischer, E. E. McLaren, G. o.
Bray, E. r. Shoemaker, Ross A.
Moore and E. L. Barr, all Of In
dianapolis, representing fire insur-
ance companies; R. G. Griswold,
David P. Layton, Freeman P. Davis,
William H. Stafford, Dudley R.
Gallahue and Parke Cooling, of In
dianapolis, representing casualty
insurance firms; G. w. Owens,
Farmland; Omer o. Rhodes, Terre
Haute; Joseph w. Stickney, In
dianapolis; George w. Fishering,
Fl. Wayne; G. B. Woodward,
Bloomington; Howard Bruner,
South Bend; H. j. Gescheidler,
Hammond, and George Kleder,
Marion, representing local agents;
C. F. Merrell Ed Gallagher, Burrell
Wright and Richard M. HenneSsey,
all of indianapolis, representing at
torneys; John G. Snyder, Craw-
louisville; John D. Volz, Indianap-
oils, and E. L. Fuson, Amo, all rep
resenting fraternal insurance COM
panies, and Harry E. McClain, state
insurance commissioner.
John D. Cramer, chief deputy in
surance commissioner of Indiana,
said that copies of the proposed
recodifed laws are not available
yet. The new laws, he explained,
would embody the best insurance
practices throughout, would con-
tinue much in the present laws and
would modernize parts of the old
laws that should be changed for
the betterment of the insurance
practice.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
Other livestock
(By United Pressl

LAFAYETTE. Jan. o.--Hogs-Market,
steady to zoe higher; 2OO-235 lbs. 81. 77o@
s7.5oG7.55; 10000 lbs, $1,000 no; 1885,
10 lbs, s7.25@ 7.55; pigs, 81 down: roughs,
81 down. Calves-Sl lower. SO down.
western Enthusiastically. S6.75 down, native
lambs, steady, $3.50 down.
Fl. WAYNE. Jan. 3O.-Hogs-5c higher;
$50 lbs, s7.35; 10000 lbs $40; I6o;l8o
s67o 13O-14O lbs, $500; 120-130 lbs.
$685. lO0-l2O lbs, S5.45; roughs, $3.50;
stays, 45O. Calves, $3.50. Lambs, S8.75.
CBy Times Specially
LOUISVILLE. Jan. 3o.-Cat tle-Receipts.
200: market opening slow; demand easier
from all buying sources very little early
trading with most bids on butcher cattle
cows and bulls weak to Csc lower; com
mon to medium steers and heifers quotable
mostly s5q7.25; better finished kinds
eligible to around $3.50; bulk beef cows.
So 75N4.75; low cutters and cutters, S1.75q
325; sausage bulls mostly, $3.50 down;
common to medium grade native stock
ers and feeders, s425n5.50; Hereford
stock calves mostly s606.50; good eligible
higher calves. 50 so; vealers. steady; good
to choice offerings. s5.50d9.50: mediums
mostly s65oqa; palmer sorts, Sc down.
and bulk % desirable; lso-25o l5s 81 $40;
Iba. sos: I4O-I55 lbs, sS.55: 120-l35 lbs.
$500 sows. s5.95. sheep-Receipts, 100:
market steady: bulk medium to good
lambs. s7.50as.5 choice auotable TO SO
or better: most common light throwouts,
SIS and desirable fat ewes $3.50 down.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
On Commission ROW

Quotations below are average wholesale
prices being offered to buyers by local
commission dealers.
Fruits-Grapes. California Emperors, 81
To- box. S2.75 Bananas. 4s4c ID. Apples,
Indiana Jonathans. Sl.65; Grimes Golden,
sl65. Lemons. SunkiSt. 360s, S4.75. Grape
fruit. Texas. SeedleSs, S3.25; Arizona, CAS-
hundred So. Pears. oregon Danjo, box,
So so. Pineapples. 30S. S4.25G4.50. Ayo-
cados Florida. box $50. Strawberries,
Florida. pint. pc; per 26-pt. crate, zoe.
ApricOts So a crate.
Vegetables-Cabbsge. Northern Danish,
5O-lb. bag 75c; red, 5o-lb. box: soc New
Idaho. sweet Spanish large, 5o-lb. bag.
s1s5 Michigan yellow. med. l0-lb. bag
&c: western white, 50-lb. bag, Sl.S5; Mich
igan. yellow. SIPS. Potatoes. Green Noun
tains. l0o-lb. bag $3.50; northern round
bs<. So: Idaho RuSSets lOO-lb bag. 50. New
Texas Triumphs, 5o-lb, bag, 81; New
Florida TriumphS bushel. 50 so. Sweet
potatoes. Indiana Jerseys bushel, 81 90;
Tennessee Nancy Halls buShel. Sl.35.
Beans, stringless. hampers, $3.50. medium,
dozen, 75c;. jumbo. dozen, GOO; heartss
dozen box s425. Endive. dozen, 90c. Egg
plant. S225 dozen. Kale, bushel 81.
lettuce. dollhouse. i5-lb. basket, 81 go.
Arizona Iceberg head lettuce, s375.. Man
goes. Florida. crate, So: Mint bunch. l5c.
Parsley. dozen. S5c; Peas, hampers. So.
dozen. 45c. Tomatoes, lob. carton, 81 50;
Florida original S2.75. TurnipS. bushel,
75c Psrsnips. bushel. Sl.35. Beets. bushel,
s1.25. Carrots. bushel, SIPS; lo0-lo. sack,
All quotations subject to change up or
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
Produce Markets

Delivered in Indianapolis prices: Heavy
springers. 12c; large stays. &c; LeghogTn
geese, &c; young guineas' zoe; old guineas'
15c. TurkeyS-No. l young hens, 8 lbs:
and over. 15c; young toms, IA lbs. and
over. 15c; young toms, 1l-14 lbs, 13c; No.
2 crooked breasts and thin turkeys, &c;
old toms, all weights, 11c No. / strictly
fresh country run eggs, loss of, 21c.
Each full case must weigh SIS lbs. gross;
deduction of 10c a pound for each
pound under SIS lbs will be made. Butter
No. l. 37d 38c. Butterfat, 33c. quoted
by the WadleY Co.
(By United Press
CHICAGO, Jan. 0-Eggs-Market, I'M
settled. receipts, 1895 cases; extra frsts,
ceipts, 2614c; dirties, Csc; checks, 24lac.
extra frsts (90-9112 score), 34@3412c; ex-
tras (92 scorel. 35c; hrsts (ss18el2 scorel
33M3312c; seconds (86-8712 scorel. 32G
32l2c: specials 351a@36c; standards. SAC.
Poultry-Market, about steady; receipts.
80 trucks; springers zoe; ducks, 18G2lc;
turkeys, 10000 geese, 18c; Leghorns
springs. lac; capons, CT lbs 23c; Leghorn
hens. Tic; hens, light. 19l2c: ROSTERS, lac;
broilers, 2262312c; stays tic. Cheese
Twins. 17d174c: daisies, 1712M 17S4c.
Longhorns. 1712G1724c. Potatoes-Supply
liberal: demand and trading slow; market,
dull; Wisconsin round whites. 80G 85c, 2
cars fine quality, 90c; commercial grade,
75c; Michigan round whites 80c; Idaho
russets. Sl506l55; one car fine quality
large size. $3.50 U. S. No. 2 s1.l5d 20.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
DULL TRADING,
LIGHT VOLUME
GRIPS MARKET
Fractional Movements Are
Rule in Steady to Firm
Showing.

NEW YORK, Jan. 30-Stocks
were steady to firm in morning
with volume small.
Most changes we're meaningless.
Here and there a stock broke out
of a fractional area in light turn
over. Case rose more than a point
TO 541i and Hazel Atlas Glass a
point to 89ia, while Pacific Mills de-
clined II to a new low at II.
National Lead issues were firm
at 1855, up 22s points.
U. S. Steel issues frmed, the COM
mon reaching 36I2. up y, and the
preferred 30, up p. Small gains
we're noted in Westinghouse Elec-
trio. u. S. Smelling, Chrysler and
International Harvester.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
SHOE OUTPUT SCARS
Marion Plant Now Operating at
Full Capacity.
By Times Special

MARION, Ind, Jan. 30.-The To-
cal plant of the DAILY Brothers Shoe
Co., one of Martens newest fac
tories, is employing 200 persons at
capacity production, company Off
Gals said today. The plant has
been running at capacity since July
9, when work was started, except
for a short period in November, the
officials stated.
A five-day, 40-hour week is being
observed and 2400 pairs of shoes
are manufactured daily. Headquar-
tiers of the DAILY Brothers Shoe Co.
are in Boston. The company
opened the plant here last summer
after a financing campaign conduct
ed by citizens.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
BUSINESS INTERESTS
BELIEVED ENCOURAGED
Have RecOnciled Themselves to
New Burdens of Security Program.

nave hcCOHClleu lneIuSeIVeS 10
New Burdens of Security Program.
BIZ Times Special
NEW YORK, Jan. 30.-Business
interests are beginning to picture
the legislative prospect for the cur
rent session of Congress in realistic
terms and are drawing encourage
ment from the generally moderate
character of the measures thus far
sponsored by the Administration,
Standard Statistics Co. reported to-
day.
The economic security measure
submitted by the President has been
the cause of much foreboding in
recent months, but the actual bill
provides for gradual steps over a
period of years, an undertaking
which should prove reasonably &C
ceptable as business has already be-
gun to reconcile itself to the as
sumption of new burdens for this
purpose, the weekly summary said.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
GRAIN PRICES TURN
UPWARD AT CHICAGO
OversoId Condition, Better
ment Abroad Factors.
By United Press

By United Press
CHICAGO, Jan. 30-An improved
sentiment at Liverpool and an over
sold condition in the local mar
ket led to buying of grain futures
on the Board of Trade today. AS a
result prices turned higher.
At the start wheat was up Il cent,
corn was up Il to y cent, oats
were unchanged to Y cent improved
and rye was unchanged to up Il
cent.
Bartlett Frazier & Co.'s Liverpool
house cabled that the English mar
ket was steadier because of an i'm
proved demand.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
AUTO RETAIL SALES
In 1884 ARE HIGHER
80 Per Cent Increase in Dollar
Volume Is Reported.

By Times Special
WASHINGTON, Jan. 30.-Retail
sales of new passenger automobiles
for the year 1884 were 80 per cent
higher in dollar volume than for
1888 and O. per cent higher than
fo~ 1882, according to preliminary
figures released by the Bureau of
Foreign and Domestic Commerce.
Sales for December, 1884, were up
81 per cent from December, 1888,
and 40i. per cent from 1882. The
bureaus index, which makes allow
ance for the number of days in the
month as we'll as for the usual sea-
sonal movements, was As in Deem
Der. 1884, on the basis of 1929-31
average as 100, compared with 63 in
November.
The actual value of sales without
seasonal adjustment declined about
81 per cent from November to De-
Cember in 1884, compared with a de-
crease of Az per cent in 1888 and
an average decrease of about per
cent between those two months for
the past five years.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
SWINE VALUES
RISE Is CENTS
Top Prices Still Below SO
Mark Broken First
Time Yesterday.

BIZ United Press
CHICAGO, Jan. S0.-Steer prices
today moved to the highest level
since January, 1881, at the Chicago
Stock Yards. Prime heavyweight
steers sold for S13.65 per hundred
pounds in the most active trading
session of the season. Supplies on
hand were particularly light. Only
1000 cattle and calves moved into
market this morning.
Prices increased IS cents in the
general run of the hog market in
early trading at the Union Stock
yards this morning, although the
top price, $3.50, was the same as
Yesterday. 1t was the second day in
several weeks that all prices were
below the So mark.
Light hogs, scaling 100 to 100
pounds, brought $3.50 to $3.50, while
the extremely light weights, 100 to
100 pounds, cashed in at $5.05 to
$6.05. The choice grades, 165 to 300
pounds, were quoted at $40 to $3.50.
Receipts totaled 1000 and holdovers
numbered 272.
Trading was active in the cattle
market today, with the slaughter
fr II v11
Top steers brought $13, with others
mostly SO down. Receipts were 900.
Vealers were ST. lower, with prices
ranging from $40 down. Receipts
numbered 600.
Lambs were steady in the sheep
market, the bulk being quoted at SO
down. Throwouts caShed in at $3.50
to $8.75 and slaughter sheep were
bringing $3.50 down.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
WOOL GROUP TO MEET
Indiana Growers Association Will
Convene Here Feb. IL.

The annual meeting of the Indi-
ana Wool Growers Association will
be held at the Washington Feb. II,
T. I. Ferris, president, has an
nounced. The association handled
$4,000 pounds of the Indiana clip
last year. The county Farm Bureau
cc-operatives act as receiving
agencies, then ship out in CARROTS to
FL. Wayne, where the wool is ware
housed, it was explained. The In
diana organization is directly af-
filiated with he National Wool
Growers Corp, which acts in the
capacity of d national sales agency.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
FRUITS AND VEGETABLES
d. T---s-aI DresSl

CHICAGO. Jan. -Apples-Michigan
Mcintosh. bushel Sl.50Gl.S5: Jonathans'
81 40MI.75. Chanberries - Massachusetts
= barrels. s4M5. NEUTRALITY-SUSPICIOUS.
crates. Sl.i0Gl60. Csbbage-Wisconsi
l0O-lb. sack. Sl.25. Sweet potatoeS-Ien-
reSSee. bushel SlG1.l0. Illinois, SlM .l5'
Indiana. SI.35Gl.60. Carrots-California.
crates. SSG325 TurnipS-Louislana
western crates. S225G3.l5. Celery cab
bage-Michigan fat boxes soc. a bushel.
50d SOC. ParsnipS-ulinois. bushel. 50sI
75c. Be sns-Florida. buSheL S5n6
Creenl. Rhubarb-Mchigan. 5 lbs, 25 q
SOC. BeetS-TeXaS. !. crates. 81: Illinois,
bushel, 4Om soc. Spinach-Texas. busheL
S2d2 IS Observation-Disclosures. lugs S3l5
b s 50: Cuban. 50 t0N3l5.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
Wall St.
Expected
to Act on Bond
Question.
BY RALPH HENDERSHOT-
Times Special Writer

NEW YORK. Jan. 30-Congress
~ is expected to pass this year
on a proposal 70 make federal,
State and municipal bonds subject
to taxation. Many members Of both
houses are reported IN Washington
dispatches TO be in favor Of such a
measure. Secretary OF Treasury
Morgenthau also is said to be be-
hind It. which probably means that
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
Hides and Skins

Hides-Green country cows and steers
SIC nat: green country bulls and. CLUES.
PIC fat: green country calf hides, &C
horse hides with full heads shanks,
names AID tails. 50 so; medium size. 81.
All No. grade morse nides. soc less; Clues
taIlow. 4H4izc: No. at value. Yellow
grease, 334Q4c; osrK grease, 3A Q Sac.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
BONDHOLDERs ASK PROBE

By Times Special
CHICAGO, Jan. 30.-The indie
pendent committee for the Missouri
Pacific Railroad bondholders, in a
public letter, today demanded a
thorough governmental investiga-
ton of railroad financing and
bankruptcy proceedings.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
CORD EARNINGS SHOWN
Net Profit for Fiscal Year Ended
Nov. 80 Totals S75,321.
BIZ Times Special

b Times Special
CHICAGO, Jan. 30.-Consolidated
net profit of the Cord Corp. and
subsidiary companies for the fiscal
year ended Nov. 80, 1884 amounted
to SIS, 1921, it was announced today
by L. B. Manning, president.
The balance sheet for the fiscal
year shows current total assets
amounting to S5,3O0,548 and total
current liabilities of S164,635. The
ratio of current assets to current
liabilities was 80 to l. Cash and
marketable securities totaled ST.
557075.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
FINANCIAL DATA

The R. j. Reynolds Co. was in
corporated in 1899 in New Jersey.
Both classes of stock are listed on
he New York Stock Exchange. At
Z current price of around 1885 the
common B" sells to yie.d about 64
per cent and at 221a times earn
ings.
(All Rights Reserved. Winchester Institute
of Finance, Winchester. Mass.)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
TRANSIT REVENUES DROP

b. Times Special
NEW YORK. Jan. 3O-TranSit
revenues for the week ending Jan.
10. as reported by a representative
group Of companies, were slightly
under a year ago. The Transit
Journal Indicator now stands at
$3.50. compared with 1OO.79 for the
week ended Jan. u.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
Baby Bonds
FIotaton of Obligations Seen Having Healthy Effect
on General Situation
Times Financial Editor
BY VINCENT S. LYONS

land o
nav method
fotation Of
will have reducing deposits savings
This trend expected follow particularly if
than the
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
SUGAR MELT INCREASES
By Times Special

NEW YORK. Jan. 30.-Total melt
of Is United States sugar refineries
from Jan. to Jan. 19 amounted to
100000 long tens against $4,000
in the corresponding period in 1884,
figures today revealed.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30

TAX EXEMPT bonds have con-
L stituted storm cellars for those
best able and qualified to take bus
mess risks during the current de-
preston. Instead of exerting them
selves in the quest of good business
loans bankers and other large in
vestOrs have been able to exchange
their surplus funds for government
Dol IS and then sit back and wait
until the storm has blown over. In
doing so they have played a part
IN the stOppage of the natural flow
of capital into business. and thus
have helped to aggravate the de-
preston.
II may be argued. of course, that
the banks have placed themselves
in a much better financial position
by so doing, and consequently have
provided the fullest protection for
the funds intruSted thin. This ar
gument is not entirely alright. In
fact. the banks have too large a
proportion of their funds tied up in
government obligations. While 1t
is true that most of them are short
term issues and are constantly
being retired, the large amount
held would constitute a handicap
to disposal if the necessity FOR
quick sale should arise.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30

President Roosevelt
likes the idea. too.
Under the circum-
stances 1t probably
st a n ds a goo d
chance Of being en-
acted into law.
S everal sound
reasons exist for
the suggeste d
change. T o remOst
among these is the
fact that the pres
ent tax exemption
tends to make the
oovprunneuf foO de
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
LEATHER DEMAND RISES
Shoe Factories Throughout Nation
Speed Up Production.
By Times Special

CHICAGO, Jan. 30.-With shoe
factories throughout the nation
stepping up production, a steady
increase in demand for leather has
been evident during recent weeks, it
was announced today.
Tanners recently have reported a
good demand for calf and kid leath-
ers with prices holding about firm.
With the demand for garment
feathers stronger than in the earlier
part of the season, several tanners
report volume business.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30

In a manner, the baby bond"
market will be competing with
banks as a medium of investment.
However, this competition, on the
basis of the outlook at the present
time, will have a favorable rather
than an unfavorable effect on
both the banks and the general
financial situation.
Short sighted critics Of the pro-
posal declare that by afflXing in
terest rates on its obligations
notch above the prevailing inter-
est on savings deposits the Ad-
ministration can entice funds
away from the banks. This view,
of course, presupposes that the
rate of return available on baby
bonds" will remain stable despite
a sharp expansion in demand for
such obligations.
DUT such critics forget that the
~ yield obtainable on Govern
ment bonds is predicated on mar
ket conditions. Thus, if there is
a large demand for such issues at
a certain figure, and other con-
ditions are propitious, the Treas
ury may attempt to reduce its net
borrowing cost by shaving the in
tereSt which it Will pay. In the
event OF such a downward correc-
ton, there would be little to
choose between Government
bonds and deposits in banks.
In some quarters it is expected
that bankers might recommend
that such persons with thrift and
savings accounts place their funds
in baby bonds" In the event of
such development this would be
proof positive that the banks do
not look unkindly at the idea of
this threatened competition"
THE withdrawal of savings ac-
u counts from banking institu-
tons and their investment in
baby bonds" will have the tend
ency of reducing the excess re-
serves of Federal Reserve member
banks. This would follow from the
fact that as proceeds from the Of
fering are returned to the banks,
increased reserves would be
needed as the corresponding sums
are transformed from time to de-
mand deposits.
The necessity of maintaining
larger reserves on demand de-
posts will act as a brake in the
event that a too rapid expansion
in credit should enSue as a result
of improvement in business.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
Stock Studies

The R. j. Reynolds Tobacco CO.
is one of our leading manufacturers
of smoking and chewing tobacco and
cigarets. In 1919 the company in
PRODUCED the Camel brand of Gig
arets ard by concentrating its sales
effort on this one brand it has made
it the second biggest seller in the
country.
Large expenditures for national
advertising have played a big part
in building up the popularity and
sales of this cigaret. It's smoking
tobaccos also are nationally adver-
tised. Manufacturing plants are To-
Gated at WinSton-Salem, N. G.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-30
tBy James E. Bennett)
LOCAL CASH MARKET

City grain elevators are paying 81 cents
for No. 2 soft RED wheat. Other grades
on their merits Cash corn No. 8 yellow
81 cents and oats AZ cents.