davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
PROSPERITY ON
WAY, CHAIRMAN
OF BOARD SAYS
Makes Prediction in Front
of u. S. Building and
Loan Convention.

By United Press
CINCINNATI, o.. Nov. ia pre-
diction that the United States is on
its way Ito greater prosperity than
it has ever known" was made by
John H. Fahey, chairman Of the
Federal Home Loan Bank Board. in
addressing delegates to the United
States Building and Loan League
convention here.
Observing that the government
has extended unprecedented as
sistance to farm and home owners,
Fahey said governmental leaders
now expect private agencies to as
sumo their responsibilities and
meeting housing needs.
Recovery is well under way
Fahey said Even the most con-
firmed pesSimists are unable 10
close their eyes TO the undeniable
facts Every business and financial
index shows it. Rising property
values. increased employment. and
the earning statements of tens of
thousands Of enterprises prove it."
Large Mortgage Holder
The Home Owners Loan Corp.
has become the largest single holder
of urban home mortgages in the
world he said.
The HOLC has saved a million
families from the loss of ther
homes through foreclosures" he
said
when all Hole applications
have been cleared, we estimate the
corporation will have something
less than 100000 mortgages
amounting to about $3.50 900 900
Our figures indicate that in excess
of billion dollars of this will have
been disbursed to institutions of
the building and loan type"
Referring to the Federal Home
Loan Banks, Fahey said loans to
members total more than 100000, 600.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
ASPHALT SHINGLE AND
ROOFING FILES PACT
Approval of Fair Trade Practice
Agreement Sought.

DV thtcn iTtSS
WASHINGTON, Nov. 16.-The
s85, 100000 asphalt shingle and roof :
ing industry today joined the list
of American industries seeking ap-
proval from the Federal Trade Com
mission of voluntary trade prac-
tice agreement.
The industry's agreement would
also seek to regulate labor rela-
tions, including wages and hours,
and these provisions of the pro-
posed agreement are now before the
National Recovery Administration
for study.
The Trade Commission is investi-
eating provisions of the proposal
which seek to bring about cessation
of 'chiseling" and unfair trade
practices in the industry, such as
price cutting, misleading advertis-
ing, secret rebates and imitation of
branding.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
VAN SWER|NCEN
LIABLE, OPINION
ON FILE SAYS
Missouri Pacific Losses in
Security Purchases
Form Basis.
By LHitcd Press

ny . Nitf0 ITfSS
ST. LOUIS, Nov 16.-An opinion
was on file in Federal Court today
declaring that A. p Van SWeringen,
Cleveland rail magnate and chair
man of the board of the Missouri
Pacific Railroad Co., is liable for
any losses suffered by the company
through his purchase Of s8,438,016
in its stocks and bonds.
Fred L. Williams, special coun-
sci in the Missouri Pacific reorga-
nization proceedings, filed the opin-
ion with the court, charging that
the purchases were made without
authority of the board Of directors.
Judge Charles B. Faris authorized
further inquiry on the basis Of Will
liamS' opinion.
Between Oct. IA and Dec. 5, 1880,
the report states, 1900 shares of
Missouri Pacific common stocks and
%, 500 shares of its preferred stock
were purchased for S2,8l7,805, on
order of Van SWeringen as chair
man of the board of the Missouri
Pacific Transportation Co., subsid-
larry of the railroad.
Inquiry Begins Wednesday
Van SWeringen, the report con-
tinuGd explained that the pur-
chaseS were made when the common
was selling at $40 and the pre-
ferred at 500 to reduce the capital
liability on the common and the
dividend liability on the preferred.
Van SWeringen later purchased
two blocks of International Great
Northern Railway bonds, one for
S620211 and another for $722,337
Further inquiry into the pur-
chaseS will be made at a special
hearings to begin next Wednesday in
Cleveland. The hearing will be held
before Special Master Marion c.
Early, with Fred l.. English assist
ing Villains as special counsel. Van
SWeringen Leonard P. Ayres, Alva
Bradley, John SherWin Jr, G.. A.
TOmlinson. William Wyer and per-
haps other officers of the road are
among those to be examined.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
On Commission ROlU
tReprinted From Late Times yesterda

theptihtcu FROM Late Times Yesterday
Quotations below subject 10 change are
average wholesale prices being offered to
BUYERS by local commission dealers:
b8she Ayoeados FoTida b 62ff s. s.
Cantaloupe-Callfo Honey DeWS S225;
Casa6aS S2.25; Persians s225 Bananas
- hands, pound, S &C. Persimmons-In-
diana diane I2-qt., 5 case 81. Apples-Indiana
81; Delicious sl5o: Wealthys, 81; Grimes
rapefruit-TeXaS. CAS- to 70s So is:
Florida SeedleSS. SS.75 LimeS--MeXican a
carton lbs, 20c, Persian Seedless a hun
Gred So
ecetables-Beans. green. round string
less bu., 81 IS, Bcets~Home grown, dos..
zoe. Cahbage-Northern Danish. 50-lb bag
SSc, Carrots-home grown, 35c; new bulk.
half bu. COO Caunhower- Michigan,
crate. 81 So Long Island, large crate, $3.50.
Celery Michigan. washed and trimmed,
extra large. .45c; jumbo, doz., 45c. Gu
sgmbeT Yo-5b a3oas doz box; s235.
berg, California. best, SIS; home grown leaf.
15-lb. basket, sll0. Endive-Ohio basket,
45c. MangoeS-California grown crate,
sS.5oGS rs; small basket, 4oc. Mint-Doz.,
6oc. Mustard-Home grown. tu., soc.
Spanish. 5o-lb. bag. sl,4o. Parsley-Home
grown, doz 35c. Peas-Telephone, ham
pers SIS. PotatoeS-Round Cobblers 100
ID bsg 81 IS; Michigan Round White 100
10. bag. $3.50 Early Ohios, bu.. sl65;
Idaho Russets. 50 20. Sweet potatoes-In-
buttons doz. baskets 45c Sage-Doz..
45c Spinach-Broad leaf. bu., CSC, Squash
Blu. 7jc. Turnips-New California re-
packed. l0-lb. carton. sl25
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
CITIZENS HOLD LARGE
AMOUNT OF OLD BILLS
Treasury Reports S250,OO0,000 in
Money Outstanding.

By CHlted Press
WASHINGTON, Nov. 16.-Ameri-
cans are still holding a quarter bill
lion dollars of the old large style
money that was abandoned by the
Treasury seven years ago.
In 1923 the Treasury began re-
placement of the old large style
money as step to reduce the cost
of printing and to make it more
convenient to handle.
Up to Sept 30, 1885, the Treasury
said. IS $4,000 bills had not come
in for replacement. All ether de-
nominations of money are repre-
sented in the outstanding large bills
with the number of 81 bills amount
ing to 29,536,316. A total of 1885,
COS Of IS bills has not yet been
replaced and 5.456,133 in old $40
bills is outstanding.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
CAR LOADINGS DECLINE
Total for Week Ending Nov. Re-
ported at 653,525.

81 CUttCU ITFSS
WASHINGTON, Nov. 16.-The
American Association of Railroads
announced carloadings for the week
ended Nov. 8 totaled 653,525 cars,
a decrease of 27,137 below the pre-
ceding week, but an increase of
58,735 over the same week of last
year.
Miscellaneous freight loadings to-
tailed 264,745 cars, a 14,039 decrease
below the preceding week, but an
increase of 40,395 above the CORE
spending week in 1884. Merchan-
disc totaled 164,511 cars, decrease
of 1865 below the preceding week
but 4497 above the corresponding
week of 1884.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
Produce Markets

tReprinted From Late Times Yesterday
The prices quoted below are palo Tor
stock gathered in the country. while de-
liyered in Incianapo the price Will be
cent higher: Heavy breed hens. lie.
Leghorn breed hens. l2c; springers. over
AZ lbs. lie; under 4ia lbs., Ice: old
cocks, &c: Leghorn broilers IA lbs and
up; i2s' LesnoEn spaslnsers l7c d eS.
cred and fat. &C: old guineas. 15c: Young
guineas, Ia lbs. up. 25c; No. I strictly
I Fssh ssEs less OF Csc; p1Hss e, Eggs; lsc'
deduction OF ioc pound under S. lbs
vi be made. Butter. No. !. 32ia 53iac:
no 2. 30iaQSl.se; butterfat. 2ec.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
GOLD, SILVER IMPORTS
SHOW SHARP DECLINE
Department of Commerce Reports
Slump for Week of Nov. 8.
BIZ UHifCd Pre-

81 JNIfCd PfCSS
WASHINGTON, Nov 16.-Gold
and silver imports into the United
States showed a sharp slump in the
week ended Nov. 8, compared with
the previous weeks, the Department
of Commerce reported today.
Silver imports in the week ended
Nov. 8, fell to $1,9O0.950 from ST.
1873 ,461 in the preceding week. Gold
imports fell to 1892, 465 from
s58,871, 228 in the preceding week.
Included in the latest weeks silver
imports were S794,454 from Mexico;
s559,786 from Canada, and S187, PAL
from Peru.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
BANKERS BREAK
WITH new DEAL,
IT is APPARENT
Prepare to Open National
Educational Program on
Bank Services.
BIZ United Press

4DU IHtttu itSS
NEW ORLEANS, Nov. 10
Bankers and representatives of big
business have made a clean break
with the New Deal, it was apparent
following the close of the 61st an
nual convention Of the American
Bankers Association.
Despite assurances of Robert v
Vleming, Washington, newly IN
stalled president of the association
that the ABA was not a political
organization and would not be
mixed up in politics SO long as he
was president" it was evident that
the organization had bolted mid
dle-of the road" leadership and
was ready to fight the New Deal
openly
Coincident with the break With
the Administration and the New
Deal, it was announced that the as
ISOLATION was prepared to open a
nationwide campaign to educate the
public in the services the banks can
render.
Break Appears Wider
1t was denied that this mapaign
was in any sense designed to coun-
teract public opinion which has
been increasingly critical of bank
erS.
The break appeared wider than
ever after the installation of Or
val Adams, unit" banker of Salt
Lake City, as second vice president.
Under the rotation system of office
tenure, Adams will become president
of the association in two years.
Adams is a severe critic of the New
Deal and advocated an embargo on
government bonds to stop govern
ment spending.
Mariner FccleS, governor of the
Board of the Federal Reserve Sys-
tenn, gave the final speech for the
New Deal. Rplying to Adams sug-
gestion of an embargo, he said:
Those who talk of boycottin gov
eminent bonds suggest a drowning
man to whom a little line is thrown
but who objects to it as an inter
ference with his individual right and
liberty to drown"
SibIey Final Spokesman
EccleS also told the bankers that
the way to get the government out
of the banking business was to get
out and lend money themselves, at
low interest rates.
The final spokesman for the
bankers was Harper Sibley, PreSi-
dent of the United States Chamber
of Commerce, who attacked the
government for its staggering def
cts and increasing taxation.
He also took issue with ReXford
Guy TugWell, Undersecretary of Ag-
riculture, for saying that America
was witnessing the death of plutoc-
racy and the birth of democratic
discipline.
That" Sibley said, lis the same
thing as saying, on to Moscow"
The delegates elevated Tom K.
Smith, ST. Louis, to first vice presi-
dent and the new Executive Coun-
il named Arthur B. Taylor, Presi-
dent of the Lorain County Savings
and Trust Co., Elyria, Ohio, treas
urer. F. N. Shepherd, New York
City, was reelected executive secre-
tary.
San Francisco was chosen for the
1886 convention on motion of A. P.
Giannini, west coast banking en-
pire leader
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
BOND ISSUE OFFERED
Central Mine Power Co. Offering
Totals S15,6OO,OOO.
Times SpCciul

UWTN NVtNINT
l'EW YORK. Nov. 16-The Cen
trail Mine Power Co is Offering a
new issue of $15G0O00O of first and
general mortgage bonds, series G
4 per cent due 1850, for the pur-
pose of refunding three outstand-
ing bond issues and paying off small
maturing obligations, it was an
nounced today.
The bonds are being offered
through an underwriting group
headed by the First Boston Corp.
and Coffin & Burr, Inc They are
priced at 80 per cent. Proceeds will
be applied to the redemption OF
three higher coupon issues, aggre-
eating S15O61 500
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
OPERATORS START WAR
Pool Resources to End Theft of Coal
by BOOtleggers.
By UHitcd Press

POTTSVILLE, Pa, Nov. 16-
Pennsylvania anthracite operators
announced today that they haA
pooled their resources to end theft
of coal from their properties.
Coal "bootlegging" has cut suf-
ficiently deep into business of legi-
innate companies to force the de-
cision of war, they said. The in
dustry first will take legal steps
against poachers on their coal lands,
said to total 1900 men who an
nually produce 100000 tons worth
SO 600 600 in the market.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
PURCHASES FACTORY
American Thread Co. Takes Over
Plant in Tennessee.

By Cnited Press
WILLIMANTIC, Conn, Nov. 10
The American Thread Co. has pur-
chased the plant OF the former Mu-
tual Thread Co. at Bristol, Tenn.
which will commence operations
only on finishing processes within
the next two weeks.
Company Agent David MoXon
said he was unprepared to say what
effect the Bristol operations would
have on the finishing work now
done here. The company owns an
other southern plant at Dalton, Ga
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
HUDSON BOOSTS OUTPUT

7 IWt8 NUfCfUT
CHICAGO, Nov. 16.-Production
Of Hudson and Terraplane cars,
which was tentatively set at $4,000
up to Jan. l, has oeen increased to
80 500 as a result Of a growing de-
mand during October, Roy D. Cha
pin, president, announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
NEW WIRE SYSTEM
Western Union Starts Fac-Simile
Method of Transmission.

BIZ NlTf1 FFtSs
NEW YORK, Nov 16-Western
Union Telegraph Co. has inau-
gurated regular commercial trans
mission of messages between Buffalo
and New York by facsimile teleg-
raphy, the first development of the
sort in the country.
The process transmits messages
exactly as the sender prepares them,
whether by longhand or typewriter,
much in the manner made familiar
by telegraphed and cabled news pic
lures.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
WHEAT ESTIMATE OFF
T i'm es Special

TTTFEN TITTT TUT
OTTAWA, Nov. 16.-The Domin-
ion bureau of statistics today esti-
mated the Canadian wheat crop
this year at 1871 900 bushels, COM
pared with the preceding estimate
in September of 290,541, 900 bushels.
Last year the harvest amounted to
275 ,849 900 bushels.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
STORE SALES INCREASE

INfN NpCCl0I
WASHINGTON, Nov. 16.-Depart-
ment store sales in the United
Ste eS during October were approx
ma ely per cent ahead of a year
age but failed to show the usual
sea onal increase over September,
the Federal Reserve Board an
nounCed today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16

Detectives Of REA
Misunderstood
by Many.
= BY JOHN T. FLYNN

NEW YORK. Nov. l6.-Com-
- ments lately on the plans Of
the REA-Rural Electrifcation Ad-
Observation-Disclosures that it's OBJ
Jectives are pretty well misunder-
stood.
Because Of the governments at
tack ON holding companies in the
utility field, there is a notion that
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16

the REA is some
sort Of reinforce
ment for the
governments de-
signs against the
utilities-a kind
Of third member
OF a trinity con-
siSting of iva,
SEC and the
REA.
This is in no
sense true. II is
the one arm Of
the government
which aims TO act
in friepIlv 20
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
AGENT is PROMOTED

John Krenzer, agent for the Pru-
Dental Insurance Co. at Newcastle
for the last seven years, has been
promoted to assistant manager of
Division 3 in Indianapolis, it was
announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16

operation with the utility interests.
It's plan is to extend electric power
to as many American farms as
possible. This it proposes to do by
asking utility companies to utilize
Its resources.
ID URAL communities car hardly
~ generate their own power.
Close to them are the great power
plants Of the cities. This power
is available TO the farms if the
lines can be extended into the farm
areas. The only thing that is
necessary is the action of the city
plant and the nearby farmers who
wish to buy the power. One thing
more is needed-funds. 1t is not
easy for utility companies to get
funds now. If they are willing to
run their lines into their rural
neighborhoods the REA will assist
them by making the funds avail
able as a loan at the most favor
able terms.
Where the utility company is not
willing, not disposed to take the
rlsk, then the REA encourages
farmers to form themselves into
cooperative groups to buy power
wholesale from the utility. This is
even more favorable The utility
may feel in doubt as to the profit
ableness of a rural development.
IF the farmers organize into CO.
N operative unit, the Government
Will finance them, without the
utility taking any risk whatever.
Then the cooperative group will
buy the power directly from the
privately owned utility company
and distribute it themselves.
This enables the farmers to get
power, the utility company to
get customers the electrical con-
StructiOn industry to get a con-
tract, the electrical supply indus
try to sell equipment
The plan looks, to an unbiased
observer, like one of the most in
telligent and useful of all the New
Deal schemes, certainly the one
most designed to aid recovery, pro-
vided the farmers and utilities will
see their chance and provided the
Administration does not get cold
feet and cut down the funds to the
vanishing point
II
TOWEVER, it is certain that
Il u some Super-senSitive patriot
will arise to denounCe this attempt
to make customers for private util-
ity corporations as a plan to Sow
ietize America.
There are a million possible farm
customers. Maybe the REA can't
get them all. But it can get a
large part of them if the utilities
will help.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
Local Securities

Reprinted From Late Times Yesterday
because quotations on local securities
are unlisted on an Exchange, The Times
can not assume responsibility for the &C.
curacy of these figures gathered from local
brokers,)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
LOCAL CASH MARKET

City grain elevators are paving IS cents
for No. 2 soft wheat. Other grades on
their merits. Cash corn new No. yellow
49 cents and oats l9 cents
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16

N. Y. Bonds
L. S. GOVERNMENT BONDS
IBy Abbott. Proctor g. Painel

NEW 1850 high.
Copyright, 1885, by Standard Statlsticsl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
Receive Wage Increase

Employees of the United Zinc Smelling Corp. WW
recere rage increases Of 25 cents day starting Nov
16, announced by President ". " Lohman. High
cos tot Irving is cited the reason.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16

operation with the utility interests.
Its plan is to extend electric power
to as many American farms as
possible. This it proposes to do by
asking utility companies to utilize
its resources.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-11-16
tBy Blyth e. CO..
NEW YORK BANK STOCKS
FIRE INSURANCE
Dividends Declared

Dividend rates are given in dollars and
cents unless stated otherwise.
Company Rate Per Payable Close
Am Sumatr lob. Is Q Dec. l6 Dec.
Atlas Corp p rs Q Dec ? Nov 90
aBudd Wheel D 100 Dec. 81 Dec 16
Coast Counties
The Waterbury Democrat., 1935-10-03
CLOSING OF SUEz
 CANAL DISCUSSED

Paris, oct. 3.-(UP).-Britisll jurists settled down here today tc a study of the legal aspects of pre- venting Italian troopships and sup ply ships from entering the Suez canal, without closing the canal to ordinary traffic of any nation.
 It was understood that the ques- ton had been raised as to wheth- CT such ships could not be "in- tercepted."
 The possibility that such inter ception" might be legal was based upon the presumption that eco- homie sanctions may be voted ag..inst Italy by the league. It is presumed that the study is being conducted in Paris because the headquarters of the Suez canal company are here, although more than half the stock in it is British owned.
 Before the experts began their study 1t was officially asserted in French government circles that the British government did not intend to close the canal.
 As this problem was debated by the jurlsts England and France ap- peared to be drawing closer to- gether in their attitude toward Italian military action in East Africa.
 Frances military high commis- sion met today to study the tech nical aspects of military accord with England.
The Waterbury Democrat., 1935-10-03
OBITUARY

KIERNANvMrs. Elizabeth Cos tello Kiernan, widow of John F. Kiernan of 427 Main street, Hart ford died this morning at the Hart ford Hospital. She was born in Camden, N. J., the daughter of Walter J. and Mary Byrnes Cos tello, but had been a resident of Hartford for forty years. Mrs. Costello was well-known in this city.
 She is survived by one daughter, Mrs. Katherine Miller of Hartford; three sons, John J. of Hartford and Walter A. of Hartford and David A. Kiernan of East Hartford one sister, Miss Theresa c. Cos tello of Hartford and six grand children.
 The funeral will be held from the Dillon Funeral Home, 5S Main street, Hartford Saturday morning at 8:30 o'clock to St. Peters Church, where a solemn mass of requiem celebrated at g o'clock. Burial will be in St. Mary's ceme- tery, Byrneside.
 DELAGE-Adolphus Delage, 73, died yesterday afternoon at the home of his daughter, Mrs. George Gaumont, 34 Dorothy street, after a brief illness. He was born in Canada and came to this city 25 years ago. He was @ member of the St. Jean Baptiste Society.
 He is survived by two sons, AL fred and George of this city; three daughters. Mrs. Gaumont, Sister Louis De Gonsague and Sister Claire Blessed Sacrament, Sisters of the Presentation of Mary at St. Hyacinthe; three brothers, Will fred of Oakville and Domina and Hormidas of this city; two sisters, Mrs. Matilda, Caouette of Water bury and Mrs. Caroline Plouffe of North Grosvenordale; one grand- child.
 The funeral will be held from the home Saturday morning at 8:30 o'clock to St. Ann's Church where mass will be celebrated at 9 o'clock. Burial will be in Cal vary cemetery.