davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
EASTMAN POST
MAY Be LOST
FOR RAIL LAWS
Abolition of Co-0rdinator'S
Job Seen as Price of
New Legislation.
BIZ Times Special

By Times Special
NEW YORK, March l9.-Railroad
officials admitted today that the
fate Of Joseph B. Eastman rests in
the hands of President Roosevelt.
Only three more months of life is
guaranteed the Railroad Emergency
Act. and unless extending or sub
Stitute legislation is enacted, the
abolition of the Office of Federal
Co-ordinator of Transportation is
in sight.
The crisis in the railroad industry
has been intensified by the legis-
lative Stalemate inthe present Con-
greSs Whether the Administration
can force through a comprehensive
transportation bill this session is an
open question. Many railroad
executives will not be put out if no
legislation is enacted, inasmuch as
this would automatically mean the
end of Mr.. Eastman's office.
There is further attraction to
this possibility, they say, in that
failure to renew the act would re-
lease them from the strict pro-
visions against the discharge of
workers as a result of coordination
of facilities. However in return for
the injunction against reduction of
workers below the May, 1888, level,
the act allows the railroads immun-
ity from the antitrust laws, if they
wish to coordinate services and
facilities.
With more bankruptcies looming
unless there is a drastic reversal of
present trends, it is possible that
Congress will be startled out of its
present inactivity and aroused to
the necessity of passing alternating
legislation it is believed. Railroad
executives agree that it is essential
that laws be enacted placing COM
peting forms of transportation I'M
der regulation. Such enactment in
the opinion of Wall Street would
measurably improve the health of
railroad securities.
1t is questionable whether the adj
will make mandatory
the continuation of the co-ordina-
tors Office as the price for forcing
through such legislation. AS soon as
transportation bill is brought be-
fore the Senate, the railroads also
will have to reckon with the demand
of Senator Burton K Wheeler for
government ownership.
Rather than see the labor safe
guards of the present emergency act
lapse, it is also possible that the
railroad brotherhoodS would exert
their influence on behalf of govern
ment ownership. 1t is up to the
administration leadership to deal
with these complexities, Wall Street
feels.
The fact that Henry Bruere, pres
ident of Bowery Savings Bank, and
F. j. Lisman, an experienced dealer
in railroad securities, have both con-
ferred in the last few days with
President Roosevelt is considered an
augury of a conservative bill bear
ing administration sponsorship.
President Roosevelt has failed to
fill a vacancy on the Interstate
Commerce Commission. If Mr.. East
man is unable to get the President
to sponsor his proposal for making
the co-ordinator's Office permanent
it would be logical for him to re-
turn to the commission.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
SHARE VALUES
CAIN SLIGHTLY
ON BIG BOARD
Stock Market Gets Indirect
Lift From Exchange
Turmoil.
BIZ United Press

NEW YORK, March 19.-Turmoil
in the foreign exchange markets
following resignation of the Belgian
cabinet brought forth new talk of
dollar devaluation and indirectly
gave stock and commodity markets
a lift during the morning trading.
Enthusiasm was lacking, however,
and there was no apparent desire to
follow the rally.
Stocks gained fractions to more
than a point with silver and gold
issues again receiving attention.
Cotton spurted $3.50 bale. Grains,
silk, rubber and sugar advanced.
The dollar fluctuated widely. 1t
dropped in sterling terms and rose
in gold bloc rates. The Belgian
Belga experienced a sharp decline.
In the stock market, United
States Steel firmed to % 9, up IS;
American Telephone 1907, up l;
American Can 1872, up Z; Atchi-
son 401s, up Is; du Pont 88A, up l;
Union Pacific Sc. up I; United
States Smelling 1874, up IA, and
Bethlehem Steel 1874, up II. Home
stake Mining, selling eX-dividend at
1868, was up 6 points.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
GRAINS UP SLIGHTLY
DURING EARLY TRADE
Sentiment Turns BuIIiSh at
Chicago Trade Board.
BvUnitcd Press

BIZ United Press
CHICAGO, March Sentiment
turned to the bull side today on the
Board of Trade and prices were
slightly higher.
Wheat opened i cent lower to Il
cent higher. corn was up IS to S
cent, oats were Is cent lower to y
cent higher, and rye was up 4 to
q cent.
Liverpool showed relative strength
in the face of sharply lower prices
here yesterday and cotton futures
firmed. Bartlett, Frazier e. Co. s
English representative cabled, Ten
dency is upward with the market
sustained by small offerings"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19

The major portion of employment
is in those industries engaged in for
eign trade. The increase in the I'M
favorable balance of trade during
January and the record increase in
unemployment during the same
month has increased the desire for
further depreciation of the pound.
Deliberate Policy Seen
With these major events as the
background and indicating the pos
sibility of flight of capital, the re-
cent collapse in the minor COM
modify markets has been the fuse
which has set the decline in motion.
The failure of the British equaliza-
ton fund to intervene in the eX-
change market indicates that the
decline in sterling is the result of a
deliberate policy on the part of Eng
land.
With a narrow market now exist
ing in most international currencies,
due to the sharp decline in inter
national trade, it would have been
relatively easy for the British equal
ization fund to prevent this decline.
The fact that it failed to intervene
is a definite indication that England
feels that the pound should be lower
in terms of the gold currencieS and
in terms of the dollar.
u. S. Can Not Fight Back
1t might be only coincidence
that this decline is taking place
during a period when the United
States is engaged in large refunding
operations. However, the factors
listed above as the background for
the current decline in the pound
were all prevalent several weeks ago.
Thus some credence may be lent to
the suppoSition that England is act
ing now, because the hands of this
country are tied as result Of its
financing program.
The effects of a further decline in
the pound can be summarized as
follows: First, there will be an in
creased agitation for further de-
valuation in the United States. In
light of the huge spending program
and the necessity for large refund
ing operations, regardless of how
weak the pound becomes, we do not
believe that the dollar will be re-
duced below its present value dur
ing the immediate future.
Second, the dollar prices and gold
prices of international commodities,
such as rubber and tin, should de-
cline. Third, there will be increased
pressure on the gold bloc to abandon
gold. Recent reports indicate that
the deflation is still continuing in
these countries. A further decline
in the pound will accentuate the de-
fation in the gold countries. If the
decline is carried far enough, it may
force the gold countries off gold. 1t
seems to us only question of time
before these gold currencies will be
revalued downward.
Currency War Ahead
Whether the revaluation will take
place at final sterilization con-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
PORKER VALUES
BREAK SHARPLY
Prices Generally 80 to IS
Cents Lower Than
Yesterday.

Resulting mostly from an eX-
tremely heavy run of supplies on
hand in early trading at the Indian
apolis Union Stockyards today,
porker prices again were forced
sharply lower than in any session
during the last week.
With the majority of classes
largely 80 to 35 cents under yester-
days average, several livestock deal
ers attributed the sharp drop to nat
ural causes, resulting mostly from
the extremely high prices paid dur
ing the last two months. Most
classes of underweights, however,
were only Is cents lower than yes
terday.
Following the decline, top price
paid for good and choice hogs to-
day was $500, compared with 1890
the new high price which was es-
tablished about two weeks ago. To-
days receipts were estimated at
1000. the largest supply on hand
since last Tuesday when prices
were so to SIS cents lower.
The bulk, 100 to $50 pounds, was
selling at $3.50 to $3.50, today's top
price. Heavyweights, scaling from
$50 pounds and upward, sold at
$3.50 to 1910. Others, weighing 100
to 100 pounds, cashed in at $3.50 to
$725, while 100 to 100 pounds,
brought $6.25 to $7.25. Packing sows
held at SITS to 1925. HoldoverS
numbered 270.
Initial trading was extremely dull
in the cattle market. Early indi-
cations were largely 25 to so cents
lower on most classes. Best steers
were valued to sell above $12. Re-
cepits were 5000. Veals moved down
so cents, salable at $3.50. The lamb
market was inactive with asking
steady and bidding slightly lower.
No early sales were reported.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
ALASKA JUNEAU NET
LARGEST IN HISTORY
1884 Income, SI.s22,766, Equals SIPS
a Share.
BvUHifed Press

By Hffrn Press
SAN FRANCISCO, March 19. -
Alaska Juneau Gold Mining Com
panys 1884 net income was the
largest in its history, although gold
production was less than in any
year since 1927. P. r. Bradley, preSi-
dent. today revealed.
Net income was 1892. 766 before
depletion equal to SIPS share on
100000 shares compared with ST.
497. 253 or 81 a share on 1,491 700
shares in 1888. Production of 128,0l5
ounces of gold was is per cent less
than 1888 recovery of 150.967. while
revenue from gold and other min
erals was 5000. 900 in excess of 1884,
setting a new high record.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
BY DIR. LEO WOLMAN

Since 1914 there have been sew
eral great swings il the general
level Of prices, and hence, in the
cost Of living. Between 1914 and
1920 the cost of living roughly
doubled
During the depression of 1921 it
fell nearly 25 per cent, rose slightly
aftera1922. and from 1925 to 1929
remained at approximately 20 per
cent above the pre-war level. In
the latest depression, living costs
again fell more than 25 per cent,
increased about 10 per cent over
the low Of April. 1888, and are now
roughly 20 per cent below 1929, 33
per cent below 1920 and 81 per cent
above 1913.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
FRUITS AND VEGETABLES

By United Press
CHICAGO March Apples-McIn-
tcsh hushel 81 s0uiTS. Mcintosh. 81 SO
ellis Turuips- Illinois. bushel 20 3Sc
IIettucc-Western crates s. So 2 so Car
roes-Cslf1ruia crates s. s5nS. Sweet
to- afnfS-Teures hushel SO G sQc
Beaus-Florica bushel 81 7SfI1 3 green .
Spinach Texas. hushei 81 2SUi-75. Cab
ha<e- Wisconsin. 100 lbs S2n2 So Onion
Michigan sacks. a hushel 81 Peas
California hushel hampers s. sous To-
= toes Mexican. lugs. s. g 50. Florida.
s. 7SEs2S.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
Produce Markets

Delivered in Indianapolis prices: Heavy
breed hens. i5c: Leghorn hens. lie; col
ored Springers, lSe: heavy stays, lie; Leg
horn stsgs. &C; old ROSTERS. &c. ducks;
fun festhered and fat. &c. geese. fun
feafhered and Fat. 7c all classes Of
guiness. lSc; No. l strictly fresh country
run eggs. loss Of lie. Each fun cases must
weigh SIS lbs. gross a deduction Of i0c a
pound for each pound under SIS lbs. will
Be- made Butter-No. l. 5SG SAC. butter
fat, CSC Quoted by the Wadley Co.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
Other livestock
by United Presn

(By United Press)
LAFAYETTE, March l9.-dogs-Market.
IS a SOC lower: 2O0-235 lbs. SO 75d 8.85, 1885,
275 lbs. s8,6ods.70; 275-325 lbs, So. 4oG
$50; 10000 lbs. sS.60GS75: 155-l75 lbs.
ss.25Gs $50: l4o-l5o lbs. s7.75@8; l3o.I40
10 lbs, Ssds.50: roughs. Sc down
Calves steady, $3.50 down. Lambs steady
So down.
asa 45c lower: 20O-25O lbs. So so: 25O-3OO
lbs, So S.; 30O-350 lbs s. 80; iso-onO lbs
ss.65; lso-iso lbs sass; l5O-l6O. lbs,
i2o-l3O lbs. $500 iOO-l2o lbs, So 40:
roughs, $780, stays. s5.25. Calves, So.
Lambs. S6.25.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
LIVING COSTS
NOW OFF 2O%
FROM '29 RATE
Food and Rent Approx
mateIy at Their 1918
Level, Study Reveals.

This is the second Of four articles
written for the National Bureau Of Eco
homie Research. Inc. bv DIR. Leo
Wolman. chairman Of the National Auto
mobile Labor Board. and former chair
man Of the Labor Advisory Board Of the
NRA- Dr. WoIman. recognized labor
authority discusses a phase Of economies
with which he is entirely familiar.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
fBv United Press

CHICAGO. March ls-Eggs-Msrket
steady: receipts. 2202l cases; extra frsts.
2itsc: fresh graded hrsts. 20s4c: current
receipts. zoe. dirtieS. isl2c. checks. l6c.
Butter-Market firmer: receipts. i02i0 tubs
extra frsts ts0-slis scorei. 2efl 70 &c: eX-
traS 81 Scorel. 2sizc. firsts $3.50 ?
Scorel. 2sis 2s74c. seconds tS6q 81 >
score. 2sc. specials. 5oa Sole; standards.
2sizc Poultry-Msrket. steady. receipts
= trucks ! car due. Springers. zoe.
eapons. 70 7 lbs. 24c: old ROSTERS. 1879
g l4izo. ducks. small. isc; turkeys, isG
&c geese. l6c. stays. l6izc. hens. heavy
lsise Leghorns. isG I6isc; broilers
Plymouth Rock. 2Sc; bRrebackS. Is q 2oc.
lryers. 2Sizc CheeSe-Tvins. IS &C;
Daisies. l6r i6Ac; LonghornS l6G
Potstoes-Old stock. supply heavy. demand
ana trading SLOW. market steady 70 weak.
Nlseonsin round whites. commercial grade
q 80. commercial grade. $751; "a
-. iair quality, 81 27is New stock
Florlca bushel crates Bliss TriumphS.
washed 81. Arrivals, Go: on track. $40
shipments. ga
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
Wall st.
Financial Position
of Russia Shows
Betterment.
BY RALPH HENDERSHOT-
Times speciAIswritsr

NEW YORK. March l9.-Soviet
~ Russia has taken a rather
interesting step in connection with
the bonds u is selling in this
country II has announced that IL
Will pay them of in cash at par
any time holders decide 70 dispose
OF them This Is tantamOunt 20
making them demand notes. More
over. they viii b. paid of on a gold
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
TRANSIT REVENUES DROP


NEW YORK. March l9.-Trsnsit
revenues for the calendar week
ended March 9. as reported by a
representative group Of companies
were somewhat less than year ago.
rs shown BY the Transit Journal in
dicator. which stands az $40. COM
pared with the corresponding week
"A 1885,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
L. S. Hands Vie7Ced Bound
in Fighting Sterling Drop
Heavy Refunding Operations Here Give England Chance
to Put Pound Down, Economists
Assert in Study.
Assert in Study.
BY JULES BACKMAN and A. L. JACKSON
Editors Economics Statistics, Inc.

NEW YORK 19The sharp decline the pound sterling
during the international
markets since the revauaton of the dollar January 1884
The basic this decline twood there has been
decline the the
English
agreed that further England depends
in inter afinna trade
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19

abe
Few investors
probably realize
- attractive
ness of this issue
Of securities in
comparison with
other foreign
bonds The WELD
is high neatly q
cent and the
financial position
Of the country Is
excellent The
total CONNER
ciaI and funded
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
Like Fixing Price

1t does not fix weekly, monthly or
annual earnings, but establishes the
appropriate hourly earnings, pre-
sumably in the hope that they will
Weld labor the anticipated weekly,
monthly and annual earnings. Fix
ing wages, then, is like fixing any
price that is established at a Speci-
fed level in the expectation that it
will Weld a specified income. Thus
public utility rates are established
at specified levels in the expectation
that such a schedule of rates will
Weld specified volume of business
and hence a specified income.
To the extent to which the actual
volume of business and of income
falls short of the estimated, the
established schedule of rates may
be said to represent an error in
Judgment. The SAME thing is true
Of the fixing of wage rates. Much
OF the current confusion concern
ing the movement of wages rests
upon the failure 10 distinguish be-
tween rates of wages and earnings.
TOmOrrOw-HOurly Earnings Con-
tinued.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
Money and Exchange
TREASURY STATEMENT

BY united Press
WASHINGTON. March l9.-Goverrwent
expenses and receipts Tor the current
rscsl wear TO March Is compared With
the corresponding period CT the previous
fiscal year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
Clothing Above 1913

Among the items whose retail
prices make up the index number
Of the cost of living. food and rent
are now approximately at their 1913
level; clothing is one-third higher
than it was IN 1913. house furnish
ing goods are about go per cent
above 1913; the fuel and light
group. according to the classical
ton Of the U. S. Bureau of Labor
Statistics, is also 60 per cent above
the pre-war level, although within
this group the average price of cleo
trio current for household use is
below 1918. whereas the price of coal
is much higher. and the miscel-
laneous group, including such items
as carfare, fees for services and the
like, is at practically double the
pre-war level.
II IS a statistical commonplace
that changes in the material STAN
dardS of living of a population are
the resultant of movements in the
cost of living as well as of money
income. Particularly in periods OF
rapidly changing prices, indexes of
money wages may yield a totally
misleading picture of the actual
course of events. 1t is thus clear
that a great rise in money wages
may be completely neutralized by
an equivalent increase in the prices
of the goods bought, and that a Sc
we're decline in money wages may be
mitigated by an equivalent drop in
the cost of living.
Hourly earnings measure the
earning power of labor. They indi-
cate how much a worker earns when
he is at work. They are at the same
time a measure of the price of labor
in the labor market. And if allow
ance is made for changes in the
productivity of labor, they are a
rough indicator of the prevailing
level VI labor cost. When the gov
eminent, through one or another OF
its regulatory agencies, fixes wages,
It sets the rate of hourly earnings.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
& NeW York Curb
(By Abbott, Proctor & Paine)

LOCAL CASH MARKET
City grain elevators are paving 81 cents
for No. soft red wheat. other grades
on their merits. Cash corn No. 3 yellow
70 cents. and oats a cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19

our banks. our Insurance COM
" panies and our investors,
whether professional or private,
find 10 increasingly difficult TO place
their funds where they may earn a
respectable return. and increasing
amounts are being placed or terms
that I should expect will ultimate
IL be rued by the investor. Why
have not these good people turned
their attention to Russia? Every
year that they overlook this field
the benefit. both TO Russia and our
selves. diminiShes. Today the rate
Russia would pay can not compare
with what she would have been
glad to pay this time last year.
L am aStOniShed that our gov
eminent. our banks. our industrial
leaders and. in fact. the whole
country does not take action in this
direction. 1 should say that today
money could be lent 10 Russia with
greater security and greater en-
suing benefit than TO any other
country in Europe
The United States should be
getting a great deal of business
from Russia today. The filling Of
that nations needs by manufac-
turerS here would stimulate general
trade 10 a very great degree.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19

(By Fenner e. Beane.)
Libertys
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
What Does 1t Mean?

Bond Syndcate-When several banks or invest-
n,ent houses join n buying issue of bonds the
sulting combination is knolcn a bond syndicate.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19

the country is about $50 GOO
O0O This is less than the fund
ed debt Of many Of our second
rate cities. The gold production
Of the nation last year alone was
$4,000 600. or nearly enough 10
pay off these obligations in full.
The internal debt OF the cOun-
try is about $4,000 100000 paper
rub,es. or about SO 700 600 900. It's
budget surplus in 1884 was 280O.-
000CO0 or enough 10 retire more
than one-fOurth % its total in
ternal debt That debt. inciden-
tally. includes all commercial debt.
inasmuch As an property belongs to
the government. It's national bud
get has not been out Of balance in
any year during the last decade.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19

ID USSTA Is doing business today
N virtually on a cash basis.
Whereas. a short time ago it was
seeking credit almost anywhere il
could get g. the country is now
turning down credit offers. And
whatever may BE- said of its credit
standing. il is one OF the few ma
tions which have not defaulted on
their obligations or SWITCHED on
their contracts during the depres-
sion.
II seems that RuSsia's improved
financial status has gained greater
attention in Europe than in the
United States. Arthur Chamber
lain. chairman Of the Tube Invest
ment. Ltd. for instance. made the
following comment recently in Lon
don.
1T will perhaps be a long time
before Russian trade plays so i'm
pOrtant a part in the world as
American. but I fancy that in the
immediate future her contribution
70 world recovery will be greater
than Americas. Let us help her
and ourselves by doing what We
can TO foster her progress.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-03-19
N. Y Bonds
Reprinted from yesterday
DAILY BOND INDEX
U. S. GOVERNMENT BONDS

Copyright 1885 by Standard statistics.)
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1935-05-09
Westland
Frank Fitch has purchased a car.
Remember the open grange meet

Frank Fitch has purchased car.
Remember the open grange meet
ing at Westland grange, Friday ev-
ening.
Leland Boyd and family of New
ark spent Saturday afternoon at Al
mond Boyd's.
Miss Elma Rouanzoin spent over
Sunday at Elmer Rouanzoin's.
Clark Fonner and family of
Pennsville were Friday afternoon
visitors at James Boyd's.
John Boyd who went with the
CCC boys last Monday, came home
Monday, having failed to pass the
physical examination.
June Miller is visiting at Walter
Bevington's, near Todds.
Mrs. Clara Ady Mollett of Mena,
Ark, spent part of last week at
Frank Daugherty's.
Mr.. and Mrs. Elbert Wilson and
son Richard of McConnelsville were
Friday evening visitors at Paul
Wells. Mrs. Edith Harkins spent
part of the week at the Wells home.
Mr.. and Mrs. Frank Daugherty
attended the Eagle parade at Nc
Connelsville, Sunday afternoon.
Mrs. Carmen Knight and daugh-
ter returned to their home at Ava,
Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1935-05-09
Stockport Route Two

Regular preaching services at Mt.
Olivet, Sunday, at 10:30. Sunday
school at $50 a. m.
East Windsor grange will meet
in regular session Friday evening,
May 10.
Mr.. and Mrs Paul Moore who
have been residing at the home of
the formers grandmother, Mrs.
Mary Patterson, and aunt, Miss Vir-
gle Patterson, are moving to Stock
port, where he has an interest in
the Glover Farm store.
"Billy" and Beulah, children of
Mr.. and Mrs Wayne Calendine,
have whOoping cough.
Dennis Emory of Norwich, and
Mr. and Mrs. Andrew Mcmillan and
daughter of Glover Hill visited Sun
day at the home of Mr.. and Mrs.
Lloyd Emory.
Miss Evelyn White closed very
successful term of school at Hos
cm's, Thursday. The entertainment