davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
STOCKS DROP
IRRECUL ARLY IN
SHORT SESSION
Losses Range to More Than
2 Points in Week. End
Trading.
BY ELMER C.. WALLER
United Press Financial Editor

NEW YORK, Dec. 20.-Stocks had
an irregular decline in the short
session today after slow advance in
recent sessions.
Losses ranged to more than two
points IN Radio Preferred B stock,
with one exceptional decline of six
points in United States Preferred,
which only had one transaction. De-
clines of point or more were made
by American Can, Chrysler, du
Pont, Johns Manville, Paraffine and
United States Steel Preferred.
Motor shares sold off with Chry-
sler Oils were around the previous
close after an early advance Rails
held fairly we'll with the leaders at
small advances Utilities slipped
back. Silvers dipped following a rise
that carried Cerro de Pasco up near
ly a point. Coppers also we're lower.
Farm equipments broke near tAe
close.
There were several exceptions.
John Morreu shot up three points
on a few sales. Smaller advances
were noted in General Foods, Ma
tional Biscuit and Woolworth. Rub
beroid rose more than two points 10
new high at 1902.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
SWINE MARKET
RANGES LOWER
Prices Dip 10 to go Cents;
Largest Drop Affects
HeavyWeightS.

An unusual session was on record
today at the Indianapolis Union
Stockyards, where traders at
tempted to even up prices with
those at surrounding livestock mar
kets. Prices here have been out
of proportion with the nearby mar
kets for some time, according to
the local government representa-
tive.
The market ranged from 10 to 90
cents lower than yesterdays aver
age. Weights under 200 pounds
we're 10 cents off, while 200 to 275
pounds sold at a discount of from
IS to 40 cents, and extreme heav-
les. suffering the sharpest drop,
were largely so to 90 cents lower.
Receipts we're limited AS usual for
a Saturday session and only 1000
hogs we're on hand. Approximately
844 we're holdovers from yester-
days session The bulk Of 100 to
225 pounds cashed in at 1885 to
$10.15.
In the medium weight classes
porkers scaling from 225 to $50
pounds, brought $3.50 to $685.,
while others from $50 to 300
pounds, sold at 1910 to $3.50 Ex-
IRENE heavies from 300 pounds and
upward sold at $3.50 to 500. Light
slaughter pigs, from 100 to 100
pounds, held at $940 to $500. Pack
ing sows brought $7.75 to $3.50.
The cattle market was scarce
and unchanged, with slaughter
steers around Is to so cents higher
than a week ago. Top steers for
the week held at $1325. Bulk of
good and choice kinds ranged from
S11 to $13. Most heifers brought
1925 to $3.50 Receipts were So
Veals also were steady, selling
mostly at $3.50 down. Receipts
numbered So
Receipts we're scarce in the lamb
market and prices remained I'M
changed. Fed Western grades were
around Is to Is cents higher for the
week, with natives sharing the ad-
vance. Bulk for the week ranged
from SLIPS to SITS, while natives
brought $1,000 to $1150. Receipts
were 100
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
Other livestock
CBy United Press

sslGA2s 2s s.
choice l5o-19o lbs. CattIe-Receipts. 800
calves, 200: compared with Friday last
week; common and d medium ne grades strong
srades eo and lower grades So
down. to, 81; stockers steady to $50 down
top. $1,000: all cows 15d25c higher; bulls
35M50c higher; vealers soc to 81 up: late
practical top on heavy. sausage bulls, $685.,
5000; compared with Friday. last week: fat
lambs mostly 15@25c higher, ,yearings
da ou agfd 22f uP only few
head choice natives at sl2: closing bulk
s1125@l1 40; wooded yearlings, s9@10;
closing bulk, SO so down; shorn vearllngs
ing lambs. s9.50Gl0.
FORT. WAYNE: IND, Dec. 2s;mHogso sc
to 9 g aO go1s SS Se s 1890
s SO 5o 5 40 S1 bS 0 sss5 26o28o lbs
i40-l6O lbs. $3.50; l2o-14o lbs. $3.50. 100
calves, s12; lambs, sl1.25.
by Times Special
LOUISVILLE. Dec. 8.-Cattle-Receipts
slaughter cattle unevenly 25@ 75c higher;
steers and heifers up most; weeks receipts
very light and closing undertone strong;
and heifers, seas only a few common
dairybred and off colored kinds down to
$3.50: weeks top 1925 for good 1043-lb
steers; beef COWS mostly. s4750 us; prac-
tical top Sc; smooth heifers types
eligible higher; low cutters and cutters
mostly. s3;25G4.5o; sausage bulls mainly
s5d6; bulk light beef type stockers and
stock calves, s5.756775; choice eligible
around SO IS. Calves-Receipts 25: mar
ket nominal because of meager receipts;
bulk good to choice vealers Friday, $40 so
ql1.50; medium and lower grades, $3.50
down. Hogs-Receipts, $50 including $50
direct market unevenly steady to Csc low
er due to change OF sort: weights from 200
200 lbs. 50 90; 205-225 lbs. ss75; 230-25o
lbs. 1926; 255-3o0 lbs. $40; 305 lbs up.
So 60; l20I55 lbs, $3.50; sows. So; weights
from l60-225 lbs. closing 5@20c higher
than last Saturday; heavy weights steady
TO 35c lower. Sheep-Receipts none.
market, nominal; native lambs closing
steady to SOC higher than last Saturday
other classes unchanged: closing bulk me-
dunn to, good lambs. 50. 5oa 10 So choice
eligible higher palmer grades including
bucks mostly s6.50G9 light Gull lambs
and most fat ewes, 81 down.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
GRAIN PRICES
TEND HIGHER IN
NARROW RANGE
Operations in Wheat Pit
FeatureleSs Compared
to Yesterday.


CHICAGO, Dec. 28-Wheat prices
drifted listlessly over small range
today on the Chicago Board Of
Trade. AS trading ended wheat was
Il to $ cent higher; corn was up
q to Is cent, and oats was Is cent
higher.
Operations in the wheat pit were
featureless today in sharp contrast
to the gyrations of the December
contract in the closing minutes Of
yesterdays session, which was the
final day for closing out contracts
in the current month.
The market today was easily in
fluenced by small trading operations
on either side May wheat was
under some pressure early. The
selling was largely in sympathy with
the earlier tone in Liverpool. The
fact that the December delivery
here failed to hold its large pre-
MUM over the May yesterday also
had some effect on sentiment.
A moderate gain was scored by
the new crop delivery after a mod
crate dip, while May rallied in SYM
pathy with small upturn in Win
nipeg.
Fluctuations in corn were small
and the market generally was neg
lected. A firm tone prevailed and a
fractional advance was made late
in the session. Commission houses
were moderate buyers. Small re-
ceipts at leading markets stimulated
part of the demand. Oats and rye
were little changed in dull markets.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
BONDS
FRUITS AND VEGETABLES

BY United Press
CHICAGO. Dec. 2s-Apple-M;chiran
Mcintosh, bushel sld125 CarrotsDTIIi-
n r bushel. 25G 35c. Sweet potatoesE
Florida bushel S4G6. Cabhs ee-sacks Ser
ewt. 75cgsi IS: Peas-Caefornia, bushel
hampers, 50 .6513 so. Spinach-~exas
crates. dozen s2a2e5. cs ncum6eTsm
Florida; bushel. 50 .50q3 IS. Celerv-Michi-
California. crates. sI60GI75 Tomatoes
Mexican. Tugs. So. 50G3 onion market
,.5u,lp. sackSl-Western valencias. ST 10.
lows. 97i2cdsl.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
Produce Markets
BY Abbott. Proctor & Paine)
COTTON
NEW WORK.

gathered in the country. while delivered
n indianapolis the price is cent higher
HesVy breed hens. Ice: Leghorn breed
under IA lbs, Ice: springers, II. lbs and
up, l2c old cocks, &c. Turkeys-Youns
mems 3 lbs. and up, zoe; young toms.
u lbs, loo; old hens. 2oc old toms. lSc
pueks-White, lbs. and over l2c: under
IDS, Joe; geese. fun feathered and fat.
70 ~ lbs, lie; over II lbs. &c. old
gllnsas. Use. young guineas ~ lbs. and
Up. Csc; No. ] strictly fresh eggs loss OF
1ee puIlet eggs, lso Each fun case must
Nelgn % lbs. gross, a deduction of lOc a
pound under IS lbs. will be made. No !
seutter s7s4d sac. No. 2 34G35c; butter.
'aI SIC. Quoted by the Wadley Co.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
FOREIGN EXCHANGE
tBy Abbott. Proctor g. Paine
n. Y. c. ASKS PWA LOAN

ItmCS Special
NEW YORK. Dec. 28.-The New
York Central Railroad has asked
approval of the Interstate Com
merce Commission for a S2,593 900
PWA loan for expenditures involv-
ing purchase of 5000 tons of steel
rail, and laying of the rail in 1886,
it was learned today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
FIRE INSURANCE
UTILITY MERGER ASKED

] lWes Npect1E
NEW YORK, Dec. 28.-The Mag
ara Hudson Power Corp. has filed a
petition with the Public Service
Commission seeking consolidation of
10 operating utility companies, it
was learned today This is another
move to bring about simplification
Of its corporate structure.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
'SOAK-THE-RICH'
TAXES GO into
EFFECT JAN. |
Rules to Be Promulgated
Next Week, Treasury
Officials Say.
BY RICHARD L. GRIDLEY
United Press stan Correspondent

WASHINGTON, Dec. 28.-Nev
Federal taxes on corporations and
wealthy individuals calculated to
yield several hundreds of millions
of dollars annually are to be put
into effect by the Treasury Jan. l,
under the terms of the Revenue
Act Of 1885.
The principal changes taking
place in tax schedules at the start
of the new year are:
/ Instead of a straight income
tax Of 1885, per cent on corporations,
they will pay 1872 to Is per cent.
Incomes up to $1,000 are taxed at
1919 per cent; $4,000 to $4,000 at
Is per cent; $4,000 to $4,000 at IA
per cent and over $4,000 at Is per
cent.
?. Surfaces on incomes S44 900 or
above on individuals are increased
on a graduating scale to a range
of q 10 rs per cent from a present
range of 20 to SIS per cent. Small
/ incomes are not touched
Nllt EAcmpllOn heuuCeO
3. Gift tax rates are increased
from a range of 3. of l per cent
( to 33i2 per cent to a range Of II
per cent to 52i2 per cent. The gift
exemption is reduced to $4,000 from
$4,000
4. Surfaces on the undiStributed
unadjusted net income of every
peronal holding company are in
creased to a range of 20 to so per
cent from a range of 80 to 40 per
cent.
5. Employers of eight or more
| persons have been notified to begin
/ keeping books Jan. l to aid the
Treasury in collecting the tax for
unemployment insurance under the
/ social security law. The one per
cent tax becomes effective on Jan.
| l, but collections will not be made
until the following year The tax
increases to ? per cent in 1887 and
is 3 per cent thereafter.
Regulations to Be Published
Also imposed by the new revenue
/ act are higher estate taxes. but
| these and number of minor
/ changes in tax laws became
effective upon signing of the act
last Aug 30.
Voluminous regulations concern
ing the new Federal taxes becoming
effective will be promulgated early
next week, Treasury Officials said.
Effectiveness of the new tax
schedules almost conceded with re-
marks of Chairman Pat Harrison OF
the Senate Finance Committee that
in my opinion there will be no
general tax legislation at the COM
ing session Of Congress"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28

T h e y will
spend it in
stores, which in
turn will spend
it for fresh
stocks and in
salaries. T h e
money will cir
culate through
I h G economic
system, i n =,
creasing & M
ployment, prof
it's, production,
wages a n q
prosperity.
They insist,
rightly, That it
will not create
initiation ThoV
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28

CHICAGO. Dec. 28.-Cash grain: Wheat
5455sc: No, s mixed. So; No 4. yeiIow.
SIC, Oats--No. white .3O1a@31c: No
white. 25@2812c; sample. 2212 q 24c. Rye
No sales. Barlev-Feed quoted 500 45c:
mailing. 46M81c. Timothvseed-S3 10m
3,25. Cloverseed-$12@18.25. Sow. beans
No. yellow, soc; SAMPLE. 8|6la@1 &c.
SLIP ask; leaf. SIPS nominal; bellies.
S17.67 ask.
TOLEDO, O., Dec 28.-Grain close: In
elevators, transit billing: Wheat-No, 2
red, S1.05@1.05. Corn-No. 2 yellow, 6312 O
6412c. Oats-No 2 white 33 Z a 3412c. Rye
No. 2, 5812d5 912c. Track prices, 24@
241ac rate. Wheat-No. red, 99l2@
$l.0012; No. 3 red, 97@9912c. Corn-No. 2
yellow, 500 5912c: No. 3 yellow, $50 soc.
Oats-No, 2 white 3o12 q SIC; No. white,
2712M31c,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
WALDORF VOTES DIVIDEND

I FNfto UtITUT
BOSTON, Dec. 28.-The Wal
dorf System. Inc. has declared a
dividend Of 1919 cents. payable Jan.
10 to stockholders of record Jan. 4,
the company announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
Ne0U York Stocks

Volume Appropriated 1,140,000
shares, compared with 100000
shares last Saturday. Curb sales
were $4,000 shares, compared with
$4,000 shares last Saturday. Dow
Jones preliminary closing averages
showed industrials 140.77, off 81
railroads 1888, off .04; utilities 1859,
off 10.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
Trends
Major Premise of
Townsend Plan
Disputed.
= b. JOHN L. FLYNN

NTEW YORK, Dec. 28.-The
\ great argument of the Town
sendites is that while their plan
will aid the old people, it will add
enormously TO the purchasing
power Of the nation. The pension
ers will receive roughly s1,500,000,-
900 a month. but they will be COM
PEELED to spend 1t within the
month.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28

INDIANAPOLIS

Wheat-Even. No. red 96097; No 9
red, 95d96c. Confirm: no. white 50m
SIC: No. 5 white, 47@5oc; No. 4 yellow
mixed 45@48c: No mixed, 43m45c. Oats
steady: No. white 26M27c; No. white
24625c
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
LOCAL CASH MARKET
fBy United Pressl

City grain elevators are paying 90 cents
for No. soft wheat. other grades on
their merits. Cash corn new No. 4 yellow
As cents and oats 10 cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
Money and Exchange
INDIANAPOLIS STATEMENT
TREASURY STATEMENT

BY United Press
WASHINGTON. Dec. 28.-Government
expenses and receipts for the current fiscal
year to Dec. 26, as compared with a year
This Year Last Year
Expenses So. 705. 449 ORG .9S S3.5i4.3a5 ma "a
Receipts. 1881 487 229 SO 1881 213 651 81
Dehcit 1928 96l $4,000 / $50, 1852 052 Of
Cash bal. 2,256,075 093 SIS ASH 946, PIG. SO
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28

Local Securities
STOCKS

because quotations on local securities
are unlisted on an Exchange, The Times
can not assume responsibility for the ac-
hrokerSl 49,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28

argue JlldJ III Will IIHCl CdoC Pun
chasing power by stimulating cir
CulatiOn.
All this depends on whether it
increases purchasing power. Let
us apply the argument to small
number Of people. Suppose there
are 10 persons who have wages OF
500 a month. That makes $1,000
a month. That is their purchasing
power.
AIOW these 10 people are taxed
N $40 each in order to pay
pension to an eleventh person OF
500 a month. 1t is clear that the
eleventh person now has $500 to
spend which he didn't nave before.
But what of the other 10? After
each has paid a tax of $40, each
has but 800 to spend. The 10 have
5000, the eleventh has Sl00-a total
of $1,000, which is precisely what
there was before the tax was laid.
The 000,000,000 collected in
taxes will be added to the cost OF
what the people buy. Therefore
they will buy $l9,000000,000 less.
While the pensioners will buy Sl9,-
600 100000 more the two TENS will
cancel each other. There will be
no increase in purchasing power.
What is the purchasing power Of
the people? Last year it was S49,-
O00.000.O00. Out of that sum was
taken in taxes 9,500000,000 by all
taxing units.
A DID to that another $4,000
N 100000 and you will subtract
from the purchasing power of the
people $780, 100000. Those who
receive the taxes will spend them.
Those who pay the taxes will have
that much less to spend
These high taxes will take more
than half of the nations money
income-$28. 100000 900 out of $40
100000, 000-leaving only $20500,-
100000 for those who produce the
wealth.
The tav will be transaction tax,
not retail sales tax. The differ
ence is enormous. I buy a suit for
$50 and pay tax of 2 per cent. 7
sell it to you for $40 and you pay
2 per cent. The retail price of the
suit Is $40. But the two tranSac-
tons total $40.
OF course 1 pass the 2 per cent
pay on to you. You pay that
plus the per cent you pay when
you buy the suit. You really pay
more than 2 per cert. 1t is, of
course, far worse than that. Be-
cause the taxes start with the wool
on the sheep. The shipper buys
from the farmer and pays per
cent.
HTE yarn maker buys from the
Il shipper. The fabric maker buys
from the yarn maker. The suit
manufacturer buys from the cloth
maker and so on. And there is a
2 per cent tax on each transaction.
The total of the transactions on
a. pfO SUN may NC pAJU. All bIltSC
taxes are paid by the final custo-
mer to the retailer. The buyer of
a $40 suit might we'll pay 2 per cent
on $3.50 and not 2 per cent on $40.
Most of the taxes in the end
would be paid by customers at re-
tail, And this means the great
bulk would be paid by the wage
earners of the nation. You could
not pile 9COO,OOO,O00 onto the
price Of goods without impoveriSh-
ing the workers of the nation. Of
course the pensioners would have
the money to spend which had
been taken from the workers.
But 1t must be clear that the
workers-the producers-must have
the money before it can be taken
for the pensioners. And if you i'm
proverish them the whole economic
system will collapse-the pension
scheme along with it.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
Week in Review

By TuitCd Press
NEW YORK, Dec. %. - War
stocks led the stock market higher
during the last week with the avi-
alton issues the outstanding fea-
lures. Demand for planes by prin-
cipal nations spurred speculative
buying in the aviation group, where
gains on the week ranged to more
than 8 points. Practically all of the
issues made new highs. Best per-
formers were Douglas, Boeing
Wright and United Aircraft.
Late in the week Du Pont and
Atlas Powder had substantial gains.
Electric Boat (submarines) was car
ried to a new high, and other ship
building issues responded to the re-
newed demand for war stocks. Steels
were firm for the most part with
Bethlehem making the best gain.
Copper shares resumed their rise
under the lead of Anaconda.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
Silver Issues Recover

Next to the aviations, the utili-
ties made the best showing. Rails
did not do as we'll as utilities, al
though a majority made small adj
vanceS. Some profit taking came
into motors after another runup
that carried Chrysler to a new six
year high. Motor equipments we're
quiet but firm. Oils were bid up
in Friday session and closed higher
Tobaccos were better after recent
selling.
A recovery in silver issues left
the list up fractions to more than
point. Higher earnings, better
dividends and the outlook for 1886
helped the silvers rise in the face
of an almost continuous decline in
the price of the metal.
Of more significance than ris-
ing stock market was a better than
expected showing in business in
diceS. Building operations in the
first half of December, thanks to
pickup in government programs
jumped 300 per cent over the 1884
period. Electricity output made a
record high above 1000 100000 kilo-
watt hours.
Trade gained as much as Is per
cent over 1884 with Christmas bust
ness the best since 1890. Railroads
reported November net operating in
come around IS per cent above that
of 1884.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-12-28
Christmas Mail Increases

Christmas mdilsroiu,ae 10 per cent greater this
year than IN 1884 Postmaster General James A. Farley
announced today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-26
new PARKING
METERS SEEN
IN TIMES REEL
Oklahoma City'S Latest
Device Is Shown in
Operation.

Oklahoma City's new parking
meters" are to be seen in opera
ton N the current issue of The In
disnapOlis Times Universal News
reel
Placed at the curbs on business
streets like a modern hitching post.
the meter begin TO function when a
motorist drives up. parks his car in
an allotted space and puts a nickel
in the slot Of the machine. A dial
shows how long the car has been
parked and tells the local cops
when to start handing out tickets
for overtime parking.
Other important events TO be
seen in the current reel include the
country's foremost mermaids in
graceful dives and speedy races in
the women's national swimming and
diving championships held at Man
haitian Beach and Coney Island. N.
Y; United States Navy officials
launching the big destroyer leader
Phelps. the first of a new type of
improved war vessel. at Quincy.
Mass; amazing tests of new
safety glass which actually bends
instead of breaking and resists the
impact Of heavy steel ball dropped
from a height of five feet, at To-
ledo. o.; William Woodwards Won
der horse, Omaha, capturing the
Arlington Classic in record time for
the track and pushing his money
winnings to new high mark for
the season at Arlington Heights.
Ill, and the pageantry of a ma
tional cherry festival at Traverse
City, Mich.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-26
OIL WELLS TO GO DRY
IN 40 YEARS, Is HINT

Gasoline Then to Be Made From
Coal, Says GeOlOgist.
By United Prose
CAMBRIDGE, Mass, July 20
Every oil field in the United States
Will be pumped dry within 40 years
and possibly in 16, an eminent
Harvard geologist predicted today,
but American motorists needn't Wor-
~ about shortage of gasoline.
Prof. Kirtley F. Mather explained
that when the cOuntry's petroleum
supply is exhausted we can begin
turning coal into gasoline-and
there's enough coal down below to
last 5000 to 1000 years.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-26

ns1ta bic service spsigilt bose.
ail b top also silk with
lis welt summer.
eolcs 10 5I
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-26

lDpeIY sheer ChiIofls, we'll.
restafarcsd at points Of wear.
Etnart summer colprs skies.
s u 10.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-26

Summers favorite styles, colors, ma
terials. Cordettes, piques, silk crepes,
lnenes, straws, etc. Lilacs, dubonnets,
pinks, whites and pastels.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-26

Far below par" value, because they
are classed as seconds and close-outs.
This seasons, styles, colors and ma
terials. Sizes IA to SO in group.