The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-30
Trends
Hig alights of News
During Last
Week.
by FREDERICK MATSON-
Tines financial Writer

n
n gressionaI conferees Thursday
night struck down the controver-
sial Thomas silver imitation amend
ment and reached compete
agreement on President Roosevelt 3
sfs80 600 900 Work-rehef bill. The
largest appropriation measure in
national history emerged in a form
almost certain 10 be approved b.
tho President. The confer
ence report satisfied the warning
elements and left little ground for
any fresh assaults upon the DILL
Despite previous threats Of I'LL
buster in the Senate By Senator
Thomas ID Okla. members Of
the silver bloc asserted that they
would not stand in the measure s
path A constitutional amend
ment 70 eliminate all tax-exempt
bonds i'm the future was advocated
by Bernard NJ Baruch. hnancier
and adviser 10 FIVE Presidents.
Testifving before the Senate Mu-
uitions Committee on plans 20 take
the profits out Of war. Mr. Barucn
said he possessed some tax-exempt
bonds but favored their elimina-
ton as A means Of making taxes
fairer" A > or 3 per cent "a
tail sales tax was predicted for n
diana BY Clarence A. Jackson, state
gross income tax director MI.
Jackson IS on a study tour as chair
man Of the research committee
charged with submitting a tax pro-
cram 10 the special session OF the
legislature 70 be called b. Gov
Paul v. McSutt Advertising
for bids on approximately SIOOOOOO
IN bonds TO enable the Utility DIS
trict OF indianapolis 20 acquire the
plant and property Of the Citizens
Gas Co. viii probably be made next
week. Albert Rabb. attorney for the
utility District. announced Wednes-
dav The resolution, drawn
bv the district. declares that the
bonds 10 be offered are 10 be palo
solely and exclusively from the n
como and revenue Of such utility
property and shall not IN any re-
spert be a corporate obligation OF
Indebtedness Of the city.
THE Belgian Chamber Of Dep
uties today approved Premier
paul Van Zeeland's proposal 70 slls-
pqnd the gold standard ana oe-
value the bclga by . per cent III
his proposal Yesterday the premier
said the RELEASING on gold would Dc
Effected If. and when. an mterna-
tionaI currency agreement was
reached. Formation Of an equal
izati0n fund 10 protect the 0elga
against nuctuation also was al
v0cated. Observers IN WASH
inetou. although alarmed az the
developing European monetary crl-
sis predicted that the deyalua-
ton of Belgian currency will have
a negligible effect. Of itself. upon
American trade. In the mean
time. Treasury officials adopted a
new method Of ShOrt-term 1nanc-
ING. Instead Of borrowing SlOO,-
600 600 weekly. as has been the
practice. the amount viii be re-
stricted to S5O.OOOOOO. A ma
tional co-ordinatcd land-uSe pro-
cram under the direction OF Rex
ford G.. Tugweu. Undersecretary
Of Agriculture. was in the lnal
stages OF formation this week Mr.
TIeweu was appointed by the
President 10 head a concentration
Of present government agencies
concerned with land use. At pres
ent a large number of govern
ment bureaus are administering
policies which. officials concede,
are conflicting because Of lack OF
entraI directing force. 90. For the
first time since 1890 the 100000
mark was passed in the weekly
production Of automobiles and
trucks I'm the United States and
Canada last week. according 10
Grams Reports. Inc The esti-
mated output was 1OOO65 units.
compared with $1,000 recorded for
the preceding week. Production IN
the corresponding week a year ago
was 1896 units.