davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-02
The COughlin a

Contrasted with Governor Eccles
central banking plan, the idea OF
Father Coughlin and congressional
advocates of an out-and-out central
bank is for the government to take
over the Federal Reserve Banks by
the purchase of stock and to make
all other private banks mere
agencies Of the central bank. This
central bank would issue money
control its value, and be the sole
fiscal agent of the government and
the depository of all bank reserves
The administrations proposal to
make the Federal Reserve System
operate as a central bank in fact
but not in name is the elimination
of a series of steps to extend its
control owe banking. These include
R. F. c. purchase of a billion dollars
worth of preferred stock in banks
(an emergency measure to bolster
weakened capital structures, but at
the same time a very effective
means of control; establishment OF
bank deposit guarantee, which is
designed to force all banks into the
r e d e r a | Reserve System and
simultaneously gives the government
still stricter supervision; the gold
dollar d~evaluation act, which de-
prived the Federal Reserve System
of its previous control over gold and
transferred this control to the
Treasury.
Original inspiration of the Fed
eral Reserve System was the need
for a central banking system, but
sponsors of that reform in 1913 were
forced to a series of compromises
which left large powers of in
dependent action with the banks, a
sort of dual authority which has
demonstrated numerous defects.
The panic of 1907 revealed the
breakdown of the national bank sys-
tenn, which was created in 1868 tc
help finance the Civil War by set
ting up banks which could absorb
government bond issues. The trou-
BILE was that there was no means by
which the national banks, in such a
crisis, could act together. There was
no medium through which they
could pool their resources. Instead
Of standing together, bank after
bank fell separately. The principal
currency, national bank notes, was
found to be inelaStic, because when
money got tight the banks would
withdraw bonds against which this
currency was issued, in order to sell
them and obtain more funds; this
would serve to contract the out
standing currency.
In simple terms, the aim of the
Federal Reserve System vas to
create a reservoir or pool for all the
banks. In normal times this would
provide a means whereby the banks
could rediScount their paper. that is
obtain funds on various types OF
notes they held. In times OF emer-
gency. it offered a mean Of pooling
their resources to protect the weak
points in the banking structure.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-02
Stock Studies

Brooklyn Union Gas Co. supplies
manufactured gas to nearly all of
Brooklyn and part of Queens, New
York City. The territory served is
one of the most densely populated
in the country with an estimated
population of around 1890, 600.
Property includes four manufac-
turing plants, Is gas holders and
225O miles of mains, besides Office
and commercial buildings. The COM
pany has nearly 100000 meters in
use. Franchises are perpetual.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-02

What money they had saved from
the wreck And when conditions
went from bad 70 w0rse IN business
IL was 20 be expected that they
should draw back farther into their
shells.
Investors forget. but not easily
Or quickly. Those who had surplus
funds we're interested more IN pro-
tecting what they had than IN risk
ing them for the sake OF high IN
terest rates. They Vere willing 10
buy only the highest grade securi-
ties. primarily government and
high-class municipal issues.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-02
How the System Operates

Accordingly. a dozen so-called re-
gional Federal Reserve Banks were
created. To provide these banks
with operating capital, each ma
tional bank had to subscribe 6 per
cert of its capital and surplus. All
national banks automatically be-
came members Of the Federal Re-
serve System. and state banks could
come in on the same terms.
Co-ordinating this new system
was the Federal Reserve Board here
whose members were appointed by
the President.
Through their regional bank,
member banks could rediscount
their eligible paper. They also were
given the privilege of issuing notes
or currency, for which they had to
keep a 100 per cent deposit of re-
discounted credit paper and 40 per
cent backing in gold. The banks
also were required OF keep reserves
in the regional bank against de-
mand and time deposits, now Is
per cent, 10 per cent, and Z per
cent respectively. according to the
size of the bank, for demand de-
posts. and 8 per cent for time de-
posts.
Coordination between the Treas
ury and the Federal Reserve Board
is achieved by making the Secre-
tary of the Treasury and the
Controller of the Currency ex off,
clio members of the Reserve Board.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-02

DUT gradually. as their con-
ID ddence increased and their
funds grew through savings, they
were willing 10 take a slightly
greater risk IN order 10 get a some
what higher return on their invest
ments. Moreover. the supply OF
the highest type investments was
not sufficient 10 meet the demand,
80 prices increased quite sharply.
We d. sc now reached the point
where q excellent demand exists
for On better grade corporate
bonds. and the Securities and tx
change Commission has ~hberallzed
the Securities Act sufficiently for
concerns which need funds 10 risk
borrowing and for bankers 70 act
as underwriters.
Within the last few weeks under
writing bankers have conducted
preliminary negotiations for the
sale Of a great many issues. Al
most every important concern IN
the Street has two or three deals
"On the FIRE" To be sure, these
issues are for refunding purposes
IN virtually every instance. but the
next step will be the flOtatiOn of
bonds for the purpose Of raising
new capital.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-02
The Control of Credit

The task delegated to the Federal
Reserve Board was TO control cur
rency issues and credit generally.
The Reserve Board has three means
of controlling credit-by so-called
open market operations. by the re-
discount rate, and by its new au-
thority under the 1888 act further
increased in the pending bilD, to
raise or lower the requirements for
reserves which the banks must
maintain.
Basically, these are means Of ex-
banding or contracting available
credit. either by making it more or
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
Two Months Old
Corpse Is Found

NEW YORK, Aug. 1.-UP)-
A Macabre murder mystery was
discovered tonight by police
launch nosing among East River
docks.
The body of a man-dead two
months - wrapped in women's
clothing with a woman's muff,
was drawn from the water.
The victim, clad in underwear
and jacket, had been bound in
gangland fashion, his legs drawn
up around his torso and his arms
wrapped around his legs.
The victim had been about So,
five feet nine inches tall. with
brown eyes and hair, weight ITO
pounds.
Police carefully examined the
evidence-the coat, the jacket,
the muff-and started on a trail
60 days old.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
s. Die AS Soviet
Submarine Lost

MOSCOW, Aug. 1.-(UP)-,
The crew Of IS of the Soviet sub
marine B-3 died July 25 when the
vessel foundcred during maneu-
vers with the Russian Baltic fleet
in the Gulf Of Finland.
News of the disaster-simlIar
to that which took Al lives aboard
the American submarine Sd in
l927-was released by the naval
commissariat last night.
A ship crashed into the BIB
while it was submerged. The sub
sea vessel sank and all aboard,
including midshipmcn from Soviet
naval schools, persisted.
The government decreed grants
of 10000 rubles each on families
Of the victims. Pensions were
awarded to relatives.
Measures for raising the sunken
craft were ordered by the naval
commisSariat.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
SUNSET VIEW

SUNSET VIEW, Aug. 1.-Mr.
and Mrs. C. IS. Bishop and chill
dren, of Mill Springs, route 2,
spent Monday afternoon with Mr..
Bishops parents, Mr.. and Mrs. w.
j. Bishop.
L. B. Jackson recently bought
a new car.
Mr.. and Mrs. L. Hyder and chill
dren, of Upward, recently visited
the latter's mother, Mrs. McCraw.
Willie May Indy and David
Earl Shipley, of Balfour spent the
weekend with their aunt, Mrs.
Lee Jackson.
Those visiting at the home of
Mr.. and Mrs. Miles Jones, Sunday,
were: Miss Eugenia Morrison,
Hugh and Murph Morrison, and
Wolfe McCraw, all of Henderson
vile; Mr.. and Mrs. Leslie Jones
and daughter, of East Flat Rock ;
Mr.. and Mrs. Richard Ward and
children, of Canton; also Thomas,
A. g., ana PlatO JackSOH.
Claud Morrison, B. Fl. Morrison
and family visited at the home OF
Mrs. D. S. Morrison, near Edney-
vile, Sunday afternoon.
Mrs. A. NJ. Jackson and chill
dren, Lola and Fay, visited Mrs.
M. J. Morrison Sunday afternoon;
Mrs. Morrison has been quite i'll
for some time.
Mrs. Curtis McCraw and chill
dren, of the Tracy Grove section,
spent Saturday night with Mrs.
Babe McCraw.
Mrs. L. B. Jackson, also Lois
and Claud Norwood. visited Mrs.
A. C. Jackson, Sunday afternoon.
The SUNDAY school at this place
is progressing nicely.
Mrs. L. P. Jackson and children
Mildred and Pat, of FLAT ROCK
route 2, spent Friday afternoon
with relatives here.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01

ground rule doubles into the
crowd.
The Reds won the game when
-pinch-hitter Sullivan hit a single
with the bases loaded.
The Detroit Tigers broke a
two-game losing streak and
pounded out a go victory over
the st. Louis Browns, and increas-
ed their American league lead
over the idle New York Yankees
to three games. Hank Greenberg
hit his 18th homer, and single
and triple. Marvin Owen collect
ed a single, double and triple to
drive in three runs. Tommy
Bridges gave up eight hits in
pitching his 18th victory.
Scoring four runs in the eighth,
the Chicago White Sox came from
behind to defeat the Cleveland In
dams, GA. and move within half
a game of the second place Yam
KEGS. The White Sox trail the Til
gers by 8 1-2 games. George
Washington's single off Lloyd
Brown drove in the two winning
runs. Mel Harder held the White
Sox in check until the eighth
when he was driven to cover.
Harder hit two homers before he
left the game. Babe Phelps al
lowed nine hits in winning his
fourth victory in eight games.
Wesley Terrell hit two homers
as he pitched the Boston Red Sox
to a GA triumph over Washing
ton. 1t was Ferrell's 18th victory,
the largest number of games won
by any major league pitcher. Cecil
Travis, Senators third baSeman,
had a perfect day at bat, getting
four hits in four trips.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
PLEASANT GROVE

PLEASANT GROVE, Aug. l.
Rev. X. r. Mahaffey, of Leicester,
spent Tuesday with Rev. and Mrs.
c. f. Blythe.
Mr.. and Mrs. Lee Shook and
daughter, Mabel Lee, of Stanley,
spent the weekend with the lat
ter'S parents, Mr.. and Mrs. Rich
ard Hamilton.
Mrs. Edgar Justus and daugh-
ter, Edna, Of Balfour, spent few
days last week with Rev. and Mrs.
G. E. Blythe.
Mr.. d. +. Blythe, Of Fairmont,
S. c., spent last week visiting rel
atives in this community.
Mr.. and Mrs. Minor Davis and
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
War SPIRIT IN
HARLEM HIGH
Black Crusaders Speed
Plans for Defense of
Ethiopia
BY JACK DIAMOND
United Press Staff Correspondent

NEW YORK, Aug. /. -tUFl-
Harlem Black Crusaders last night
prepared to speed the defense of
Ethiopia by sea and air.
One militant band in the world's
largest negro urban center boast
ed of 1000 volunteers and dis
cussed plans to buy or charter a
freighter-to be manned by 4
Harlem navy" - and set sail
forthwith for Adds Ababa.
Another group 5000 strong,
the Wanted "Black LEGION to-
day planned to inaugurate train
ing camp in upstate New York
with an expected aviation division
of 500 students and instructors
and two full regiments of infan-
try.
Spirited activity along Lenox
avenue last night was in spite of
a federal law phich prohibits the
enlistment of troops here to fight
under foreign flags.
Eve already have 1000 volun-
teers for service, recruited in the
past three weeks" said Harold Fl.
Williamson, Jr., national organ
izer" for the pro-African Recon-
struction Association.
"Since we have no actual au-
thority from Ethiopia, however,
we are enrolling them simply as
'colonists'."
"Our next step will be to buy or
charter a freighter for them. We
have in our ranks many negroes
who have served in the United
States navy and also have service
on regular transport lines. They
will comprise the crew of our ship,
which must be communicable
course-by experienced captains. y
Williamson also discussed his
own groups prospective air force.
1t includes eight negro aviatorS
and 10 or 20 white airmen, all
with many hours of actual flying
experience. A bombing plane al
ready has been donated, he said.
Some 800 nurses and 30 doc
tors also have been enrolled, sd q
the organizer. ,.
The plans Of the "Black Legion
were revealed by its commanding
general, a ferocious black named
Stuff Abdul Hamid, who says he IS
a "Mohammedan African"
Today Gen. Hamid and his staff
will move onto a 30-acre site
exact location secret-to survey Il
as the Legion's training camp.
eve hope to have our men up
there in ten days." doomed the
dusky general. "There Will be
5000, at least.
1--WE, under the auspices OF the
International Congress for ATT
can Justice are not interested sole
ly in the Ethiopian question. we
want to build up negro military
academy that will fight the battles
OF the African people all over the
world, wherever they are OPP
pressed"
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
Gas Comes Under
Lost and Found
Class Of Articles
Gulf Booklet Valuable Aid
in SAVING It in Many
Ways

1t has been a regular service of
The Times-News to restore lost
dogs, watches, wallets and what
nOts to anxious owners. But today
our attention is called to the fact
that we have helped find some
thing which the owners did not
know they had lost.
"Thanks to The Times-News,"
says A. J. Borders, local reprcsen
tative Of the Gulf Refining COM
pany, "a multitude of motorists
have found that they have been
losing gallons of good gasoline
without realizing it-just as sure
ly as if there were a leak in the
gasoline tankw
Mr.. Borders refers to the re-
suit of series Of advertisements
recently placed in The Times
News by his company, offering all
the new free booklet,
Is Ways to Save Gasoline Mon
ey."
"SOon after the offer appeared
in your paper, motorists began to
flock to our filling stations to
claim their copies of the booklet,
and the original supply had to be
renewed. An enthusiastic demand
for them continues" Mr.. Borders
states.
Among the Is simple, money
saving hints Illustrated in the at
tractive little Gulf booklet is a
pertinent pointer on parking. 1t
explains, to the surprise Of most
that a car figuratively
burns up gas" even when it is
parked, depending upon where
and how you park it. Other hints
in the booklet that materially in
crease mileage-per-gallon deal
with proper use of the self-start-
er, accelerator; gear shifting and
other ordinary operations in drlv-
in,g any one of which wastes
quantities of gasoline, if careless
ly done.
Titled "15 Ways to Save Case
line Money" the booklet is free
for the asking at all Gulf service
stations and Dealers
Any decided upturn in business
will be followed by a sympathetic
..,.,.l -. ,n,r;t;,,n pncac
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
ms WINNING
freak SNAPS.
IN They Gain.
Within Half Game Of
.;;,uts as Wednesdays
Play Ends

en- YORK. Aug. 1.-(UP)--
csi.,go Cubs 11-game win
.,r.,k snapped Wednesday,
.sa Westerns gained half a
~ me New York Giants and
U" NJ the days play were
l ss NJ" a game out of first
+ winning their eleventh
H. ~, Sy defeating Pittsburgh
r. ~ first game, the Cubs
ne second game to the
=; in IL innings. A four
II, y in the eighth inning, IN
4 81 singles by Billy Herman,
4 Hartnett and Frank De,
4. hid the damage, enabled
Fvbs 10 beat Cy Blanton. Roy
tsow. rookie southpaw, scored
a"rtb victory over the Pirates
, NJ, y Larry French had to
~ his relief in the last two
: Pirates scored a run on
.b,w who came into the sec
game as relief pitcher in the
! 10 tie the count A. Eaeh
scored a run in the tenth
hen Pittsburgh made the VIM
run off Charlie Root IN the
rtis Davis outpitched Carl
,sn for the second time this
N 10 give the Philadelphia
les = SO victory over the
- Two homerS by Johnny
- and Dolf Camilh's goth
- If the season featured
attack. Davis al
j - hits and frequently was
.roable but held the Giants
,eIrss after the third. 1t vas
Ii tenth victory.
SrOoaIyn and Boston divided a
'IhIq.peadsy, the Dodgers TAX
4 he frs, game, So, and the
H. The second, 40. Clark and
L. held the Braves TO six hits
kfs f-st game, one of them
'eer's 2lst homer. Fred Frank
X permitted the Dodgers on
he hits in scoring a shutOut in
.nigh,cap.
he Cincinnati Reds pounded
a 4-3 victory in ten innings
the st. Louis Cardinals in a
L game at Cincinnati, wit
led by 3O,O0O-the largest Red
yd this year.
he crowd completely circied
playing field and eight of the
doubles recorded were
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01

Mr.. Smith Davis left Monday for
their home in Valdosta, Ga.
Miss Sylvia Banks and Miss
Emma Sue Gray, of Etowah, spent
Sunday night with Miss Charlotte
Blythe.
Mr.. and Mrs. Owen Banning, Of
Henderson, lille, spent the week
end with the formers brother and
family. Mr.. and Mrs. Jones Bms
ming.
Miss Jewel Blythe and Miss
Helen Justus spent Friday after.
noon with Miss Virginia Justus, OF
WaySidc Inn. -'
Mrs. l.. C.. Orr visited Mrs. Geo.
Meesc, Of Etowah, Sunday.
Rev. Jesse Owenby and son,
Dewey, were supper guests of Mr..
and Mrs. jim Orr, Sunday.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
LIGHTNING SLAVES
ITALIAN IN STORM

PARMA, Italy, Aug. l. CUP
Luciano Codeluppi, peasant, lean
ed from his window to watch
storm yesterday.
Lightning struck, shaving his
beard and mOustache.
Relatives found him sitting on
the floor rubbing his clean-shaVenl::
face meditatively, unhurt. i
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01

During a war, one set of conf
batants declare the Lord is on
their side, and their opponents,
with equal assurance, hold that
the Lord is on their side. They
give the Deity no chance for ,neu-
tralitY.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
GETS SHOES FREE

RUMSON. N. j., Aug. /. (UP)
The Borough council yesterday
decided to take care of fireman
John Keany's big feet. Keany
wears No. II shoes which he has
to have made to order. The vii
lage will pay for his boots in fu-
ture.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
SOUTHERN ASSOCIATION

Atlanta 4, New Orleans 6 (call
ed 7th, darkness).
Knoxville 2, Birmingham 5.
Little Rock 3, Chattanooga
40 innings).
Memphis 4, Nashville 8.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
AMERICAN LEAGUE

Chicago 6, Cleveland 4.
Detroit 9, St. Louis 3.
Boston 6. Washington 4.
(Only games played.)
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
NATIONAL LEAGUE

Pittsburgh 20, Chicago 40
(second game IL innings).
Boston ga, Brooklyn SO.
New York 8, Philadelphia 5.
Cincinnati 4, St. Louis 8 90
innings, night game).
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01

Correct this sentence: After the
Filipinos are free and independent
they will be perfectly happy, like
the people of the United States.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01

One-man holding company of
ancient history: "He that maketh
haste to be rich shall not be inno-
cent"
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01

AMERICAN LEAGUE
Boston at Washington.
Cleveland at Chicago.
st. Louis at Detroit.
(Only games scheduled.)
NATIONAL LEAGUE
st. Louis at Cincinnati.
Chicago at Pittsburgh.
Brooklyn at Boston.
(0nly games scheduled.)
SOUTHERN ASSOCIATION
Memphis at Nashville.
Atlanta at New Orleans.
Knoxville at Birmingham.
Little Rock at Chattanooga.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
RESULTS
PIEDMONT LEAGUE

Asheville 5, Portsmouth 8.
Norfolk 10, Charlotte 5.
Richmond 3, Wilmington 4 az
innings).
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01

the new Lockheed single monoplane shown
to the Winnie Mae which twice carried MN post
the world but failed u shakespeare flights whey Lane
center plans the north Pacific to test his new ot
and to hunt tigers Siberia Fay G left noted on
and Mrs Post right will the oneeyed Oklahoma nd
his venture which, Miss ellis hints extend into another ae
he-world hop flying his craft California 10
whs will be installed. .g
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01
SOUTHERN ASSOCIATION
SCHEDULE

PIEDMONT LEAGUE
Asheville at Norfolk.
Richmond at Charlotte.
Portsmouth at Wilmington.
The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1935-08-01

Any decided upturn in business
will be followed by a sympathetic
trend of sensitive noses.
The Nome daily nugget., 1935-04-09
Record Breaking Day Air Travel
 26 Brought Nome

A record breaking day of air trav- el occurred today when seven air. planes representing both local and territorial air transportation com panies, landed at the Nome airport from Fairbanks and Anchorage, with 26 passengers.
 In the history of the aviation in dustry in Nome that is the greatest number of passengers to be brought to Nome in any one day. And ac- cording to all information available at this time there are many more planning on coming to Nome by air plane within the near future Even now several of the planes which landed here today are streaking their way back over the $40 miles to Fairbanks to bring more passen- gers.
 Now is the time when Nomeites and others arriving here will sec what promises to be even a greater problem when the first boats arrive. There are no housing accomodations in Nome. The only hotel, The Lin coin is full and many are sleeping on the floor; there is hardly shack left in town in which there are not men staying. The question is where are all of these men going to stay? And what is Nome going to do in the spring when the boats arrive? Many of those who arrived today will be leaving for the creeks and northern towns to commence spring operations, and in fact some already left town today by other planes.
The Nome daily nugget., 1935-04-09

Pilot Frank Whaley of the Roust Airways arrived this morning from Fairbanks having as passengers Al Carey, Emil Laurin, Conrad Kirke- bo, and MT Lunquist. Pilot Whaley took off again today on return flight to Panama where he expects to pick up some more passengers and return tomorrow.
The Nome daily nugget., 1935-04-09

Pilot Chester Brown of the North ern Air Transport, who has been at Kotzebue on account of weather, hopped off at 9 am. this morning from that place for Point Barrow with Chas. Brower and son. He is expected to return to Nome late this evening.
The Nome daily nugget., 1935-04-09
LOCAL NEWS

Pilot Al Monson of the Pacific AL aska Airways arrived Nome today with Miss Edith Morrison, daughter of Judge and Mrs. J. H. s Morrison, who is here to visit her parents. The plane also carried the weekly mail to Nome. Pilot Monson is due to leave for Fairbanks with the mail tomorrow.