davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05

common, with no par value; 620,630
shares first preferred, no par value,
convertible into common and en-
titled to non-cumulative dividends
of $3.50 per share and to 500 a
share in liquidation.
Common stock would be backed
by $40 per share value, based on
ICC valuations, and book value Of
about $3.50 per share.
All equipment trust certificates
remain undistributed One compre-
hensive mortgage would replace the
present varied mortgages. Immedi-
ate issue is proposed of $242, 708,628
in convertible income general mort
gage 5 per cent bonds and $72,604,-
500 in convertible income 4 per cent
notes, in which interest charges
would hinge on earnings. Both is
sues would mature in 100 years.
Annual fixed charges, at present
$24.878.524, would be brought down
to $7.503 $50 by exchange of various
securities. If this set-up had been
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
IMPROVED RAIL
OUTLOOKL|FTS
CARRIER BONDS
Works Program Expected to
Aid Several important
Eastern Lines.
BY CHARLES HUFF
Times Special Writer

NEW YORK, Aug. 5.-Optimism
as to prospects for increased freight
traffic during the fall is becoming
dominant factor in the bond
market, causing an enthusiastic
whirl of activity in rail issues of
the middle bracket. The most notice
able feature of the performance is
the extent to which it is restricting
itself to relatively a small number
of the carrier issues.
THE bonds of Eastern roads have
become the star performers, persist
emily holding their principal roles
in trading day after day.
The government works program,
once it gets into full stride, is eX-
pected to add particularly substan-
tial tonnage to the heavier classifi-
cations of freight. Roads which
seem to be singled out as proSpec-
tive beneficiaries of such traffic in
crease, in the minoS of bond market
followers, include the New York
Central, Baltimore e. Ohio, Erie,
Nickel Plate and Wabash.
DispIace Granger Roads
AS a result of this point of view
this group of carriers for the pres
ent has displaced the so-called
granger roads in speculative popu-
larity. Earlier in the summer the
fairly sharp upward movement in
medium grade rail bonds centered
about roads of the Northwest. Be-
cause of the changed attitude to-
ward railroad bonds, with optimism
Supplanting earlier apprehension,
investors are giving surprisingly
little attention these days to the Ills
of railroad capital structure, re-
garded so ominously not so long
ago.
There seems to be a somewhat
fataliStic view that the carriers
that have survived the last five
years have forged definitely beyond
the pale of serious danger.
Time for Digestion
Bond dealers are beginning to
indicate that a little time for di-
gestion would not be mistake, in
view of the rapid pace at which
refunding offerings we're presented
during June and July. Such offer
ings during the two months aggre-
gated considerably more than half a
million dollars, over and above
financing by states, municipalities
and the Federal government.
The refunding operations all have
been headed directly at one objec-
tive-lower coupon rates. In some
instances the cut in rates has been
drastic. In some cases the move
has been too rapid to afford time
for the necessary investor education.
Investors are not unlike workmen
when it comes to taking pay cut,
with the exception that they are
wholly unorganized. Dealers are
inclined to welcome breathing
spell, inasmuch as there is no in
dication that available investment
funds are likely to evaporate by
other processes.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
PORKER PRICES
TS11,5O MARK
Market Generally rs to IS
Cents Higher Than
Saturday.

Another sharp advance in hog
prices at the indianapolis Union
Stockyards today marked the fifth
consecutive session in which prices
have scared upward, setting new
all time high level since September,
1880.
An extremely large demand with
a light supply prevailing resulted in
an increase of from Is to IS cents
in the various classes on hand at
the local exchange, sending the top
price for good and choice weights
to $11.50, the highest level reached
during the last five years. The
major increase was limited mostly
TO the lightweight division.
Receipts today were estimated at
only 5000. This is considered light
run for a week day session. Light
receipts, however, are expected due
to the. scarcity of hogs throughout
the country. High corn prices also
have been a major factor in the
years hog crop as farmers have
been unable to purchase grain to
fatten their hogs.
The general bulk, 100 to 225
pounds, cashed in at $11.45 to $11.50
Weightier grades from 225 to 25O
pounds, sold at $11.30 to $11.45
Heaviest classes from 300 pounds
and upward, brought $1,000 to
$1095. Light medium weights, from
100 to 100 pounds, sold at $10.75 to
$1125, while 100 to 100 pounds
cashed in at $40 to $1,000. Pack
ing sows brought 1925 to $10.25
Holdovers were 81.
Practically all classes of cattle were
active and strong to slightly higher
than last weeks close. Most steers
we're valued to sell under SO, while
few heifers brought $3.50 to So
Cows held at $3.50 to $6.75. Low
cutters and cutters sold at SO to
$425. Bulls caShed at Sc down. Re-
ceipts we're 700.
Initial trading was mostly I'M
changed in the veal market with all
classes holding steady at last Fri
days average. Bulk of good and
choice veals sold at SO to $3.50
Lambs also were unchanged with
Fridays best average. Better grade
of eve and wether classes sold at
1925 to SO. Bucks were discounted
from so cents to 81. Slaughter sheep
brought 81 to So. Receipts were
1900.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
On Commission ROLU

Quotations below are average wholesale
prices being offered 20 BUYERS by local
commission dealers
FruitS-BananaS. 4s4c q 10 GooSeberries
ease sf75Rl IS Biaek6errieS. 74-qt case
81 BiueberrieS, GeOrgla. 24-Qt. crate. 81 90
Cherries. sour. l6-Gt case Sl.65. Can
tsloupes. Arizona jumbo. S6s. crate. 50:
Jumbo ass 50 Peaches. Georgia Elcertas.
bushel. Sl.S5G2lO. Honey dews. Cali
fornia. So Watermelons. NatSonS. ooc'
SiGl25 Lemons. Sunklst, 6ec. Grape
fruit. Florida SeedlesS. 2.7S. Pineapplss.
ass 60 Lines Mexican. per carton. 2Oc,
Persian seedless. a hundred 50
Vegetables-Caobace nome Srown- on
SOc onions. yellow. 5o-lb bag. 81
Kentucky yellow, So-lb. bag. las.
Sl55a $50 Sweet potatoes-New TrlumphS
bushel. sl25. Beans, green StTinS-
less hampers. si.25; wax. 81, Celery.
washed doz 4Oc. California. crate. So IS
doz. soc: EgS plant, $50 ooz ka,e.
crate. 81 home grown. 20a2Se dor. Let
tuce dollhouse l5-lb. basket. 6oc. Cali
FORMS Iceberg head lettuce 81 Manages.
bushel. So: small basket. sc Mint,
doz 75c Parsley, dor 5oc Peas nome
srovn- oushel s. Is. Co:orado hamper
Radishes 7-doz. basket. 6Sc. TurniDs. new
4 dog 2se. BeetS. home grown. ooz
Tie Carrots home grown. doz.. soc; new
bulk bushel So Rhubsrb. outdoor. ooz
soc Mushrooms 10 So6Ssc Tomatoes
home groWn. lob. basket. SIS.
All quotations subject 10 change 10 or
down
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
FEDERAL LOANS
AIMED TO SPUR
POWER ON FARM
REA to Place S95, 900, 900
at Disposal of Private
Utilities.
BIZ Cnitcd Press

Bg United Press
WASHINGTON, Aug. 5.-The
government today planned to lend
private utility companies sos. 900 900
or more to supply cheap electricity
to at least 351 900 farm families.
The program was announced nv
Morris L. Cooke, director of rural
electriflcation. Announcement Of
the program came as the admins
tration continued to investigate
power interest attempts to defeat
its measure regulating holding COM
panies.
Mr.. Cooke based his plan to adj
vance utilities the sos, 0000 900 at
per cent over a 20-year period on a
survey made by company executives
to determine where they could build
rural lines.
S11S,6S5,OOO Needed
They found they could construct
1880 miles of new wire for SIS
$4,000 and install service facilities
for 351 900 customers for s113685,-
600. They will need total of S113,-
$4,000 from the government for the
work.
Initial costs to the farmers would
be S124,564 900, including S79,4l8,00O
for electrical appliances to consume
the power; SAL ,295,OOO for wiring
their homes and 1881 900 for serv-
ice extensions.
The government planned to help
the customer buy electric ranges;
heaters, automatic pumps and feed
grinders by organizing new al
phabetical agency similar to the
Electric Farm Home Authority,
which has co-operated with the
IVA.
RFC to Supply Funds
This would advance funds sup
piled from the Reconstruction Fin
ance Corp. at a low interest rate.
The Federal Housing Administra-
ton is offering a line Of medium
priced appliances.
Mr.. Cooke can control the utility
1dlCo Wy 4C4uolllB W duFdI4CS 4Odllo
to firms whose charges he considers
too high. On most applications for
loans, he said, 'the Rural Electrif1-
cation Administration is making
suggestions as to rates"
REA was organized on May II as
part of the $4,OOO,OOO,OO work relief
program, with an ALLEGATION of $780,
100000 from President Roosevelt.
Mr.. Cooke believes, however, that he
can get additional funds.
He decided on the 100000 in
loans to utility companies and S.
100000 for municipal systems, power
Co-operatives and district authorities
because there is a 95-to-5 ratio be-
tween private and publicly owned
plants at the present time.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05

By UHucd Press
NEW YORK, Aug. 5.-Strength
in oils and several utility shares
gave the stock market an irregular
appearance at mid-afternoon today.
An excellent earnings report by
Phillips Petroleum sent that stock
up IL to a new 1885 high above %
and brought buying into all oil
shares. Standard of California,
Standard of New Jersey and others
showed gains of point or more.
Utilities Gained after the active
opening, but most had gains over
the previous close. Consolidated Gas
at 80 was up Il while American
Power and Light, Columbia Gas,
Commonwealth & Southern ana
North American had fractional
gains. Public service of New Jersey
was fractionally lower.
Most rails and leading induStrialS
we're fractionally lower in dull trad
ing.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
FRUITS AND VEGETABLES
lBv United Press

bushel yellow tranSparents. 50G75c.
Carrots-Western crates. doz-. $3.50.
TurninS-IhnoiS bushei SOC Sweet
potat oes-Nfississipp bushel. sidI15. Leaf
iettuce-Ilinois buShel. 25GSSc. Beans
Illinois. bushel 75cmSl.75 Cabbsge-40-
s0-lb crates. IS q soc eas-Washington.
buxhel hampers Sl7SG2 Tomatoes
Illinois bal crates. S5sI 75c. Spinach
Colorado. buShel SiTl.l5 Rhuharb-
Illinois so-ln. cartons. IS ~ 40c. Lettuce
Western crates S doz 50 25n3. Peaches
Illinois. blshel. 81 son 26S Ohio market
50-lh sacks California yellow globes.
IS q COO: California. whites. Sis; Iowa.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
TRAPHAGEN GETS POST
BgTimes Special

By Tunes Special
NEW YORK, Aug. 5.-John o.
Traphagen. president of the Bank
of New York and Trust Co., has
been elected a trustee Of the Mutual
Life Insurance Co. of New York, to
I'LL vacany. it was announced to-
day.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
GRAIN MARKET EVEN
TO SLIGHTLY HIGHER
Wheat Traders at StandStilI
After Opening.
By United Press

CHICAGO, Aug. 5.-Without def
mite market guidance wheat traders
refused to move in either direction
today, and prices held near the
previous close on the Chicago Board
Of Trade.
At the start wheat was unchanged
to q cent higher; corn was I'M
changed to a cent higher; oats
was unchanged to up 4 cent, and
rye was unchanged to Il cent
lower.
A holiday at Liverpool left the
wheat trade without guidance from
abroad, and while there was no ma
terial change in the crop news from
the Northwest, traders were inclined
to be cautious and buying was scat
tered in light trading.
The discouraging reports concern
ing the spring wheat had only a
moderate bullish influence, and an
upturn was checked by scattered
hedging sales.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
Chicago Stocks
(Bv Abbott. Proctor 4 painel
BUILDING UP SHARPLY

nv tHic~ NpfffNt
PHILADELPHIA, Aug. 5.-The
Bureau of Building Inspection re-
ported today an increase OF nearly
100 per cent in July building over
the corresponding period year ago.
July permits for TAB operations were
valued at SLOT, $50. compared with
$50 operations costing $3.50 100 in
June, 1884.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
TINES SETS AID RECORD

Breaking the record it set last
year for consistent daily advertising,
the indianapolis Times set a new
mark today with the appearance of
the s32nd consecutive Wrigley Gum
! advertisement.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
CARS AIR-CoNDITIoNED

BIZ Times Special
NEW YORK. Aug 5.-Safety Car
Heating and Lighting Corp. reports
today it had completed installation
of air-conditioning equipment on
more than 500 railroad cars in the
first half of 1885. against a total Of
80 in 1 e full years 1884.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
Produce Markets

The prices quoted below are paid for
stock gathered in the country. while de-
livered in Indiana polls the price will be a
cent higher. Heavy breed hens. i3c: Leg
horn breed hens. lOc: heavy breed cocks.
es, Leghorn breed COCKS &C: colored
oroilerS. lbs. and up. lac: Leghorn broil-
erS. Ia lbs. and up lie; bareback b-oilerS.
ioc. ducks full festhered and fat. &c.
geese. fun feathered and fat &c: guineaS,
i5c each. No. l strictly fresh eggs. loss OF
l9c Each fun case must weigh SIS lbs.
gross a deduction Of l0c a pound under SIS
lbs viii be made Butter-No J. asa 29c:
hutterfat. 20c Quoted BY the WadleY Co.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
HoUeH Quits Big Board

Thomas H. Howell, famous grain specuIatoro Of Chi
cage, has sold his membership the Ne0 York Stock
Exchange Mr. Ho10eH purchased his seat on the Big
Board in 1928.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
Trends
Is Indiana Showing
the Way Toward
Recovery?
by VINCENT LYONS
Times Financial Editor

THROUGHOUT the depression
Il We have had with US a Ger
tain group Of people who. no mat
ter how deeply black the clouds
were. could always see the silver
lining. They were endowed with
the name Of business Pouyannas."
Chief optimist of them all was
Charles NJ. Schwab. high mogul Of
the Bethlehem Steel Corp. Their
creed was contained in the several
words: Don't sell America short"
Today these gentlemen can
afford to take a back seat con-
tent IN the knowledge that wish
ful thinking is now less essential.
They merely point TO the upward
curves that many highly toUted
economic barometeTs have taken in
the last few months. And, Il it
Is any consolation TO them, even
their critics will allow them to in
dulge in A few L told you SOS" as
a reward for their warfare on
pessimism.
The above mentioned gentry
may we'll point with pride to a
highly optimistic condition which
has Just been uncovered by Mar
tin F. Carpenter, director of the
Indiana State Employment Serv-
ice Mr.. Carpenter discloses that
during July employment in manu-
featuring industries throughout
the state registered a contra sea-
sonal gain of eight-tenths of l per
cent as Contrasted with the pre-
ceding month.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
Ne7O York Stock Exchange Prices

y e "a aas I? G9 A. ~ =: -: =: =;
Western Unon.. ASA A ASA 4412
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05

ceding month.
TRADITIONALLY, the pace of
Il manufacturing slows down
perceptibly during July. This re-
cession has been shown on a ma
tional scale in 13 of the last 10
years, and follows from the fact
that most lines of commerce are,
directly or indirectly, placed under
the influence of the hot weather.
Probably even more significant
than the foregoing was the squirt Of
II per cent in employment in the
durable goods industries during the
month. Nationally a decline had
been witnessed during July in every
one of the last 18 years. It will be
remembered that a considerable
proportion of the jeremiadS ema-
mating from representatives of
American industry in the last year
or more has been dedicated to the
proposition that while consumer
goods trades have been moving for
ward the durable goods lines con-
tinued IN the doldrums.
What is the difference between
consumer goods and durable goods
and why is 1t so essential that
pickup be engineered in the latter?
Consumer goods go Immediately
into consumption. Durable goods
are the products of the heavier
lines of business and continue to
exert an influence long after their
purchase. For instance, food does
not serve another economic func-
ton after 1t is purchased at the
corner grocery, whereas an autOmO-
bile throughout its life needs new
parts and accessories and must be
serviced from time to time.
TNDIANA'S showing in the dura-
i bic goods field is one of the
most encouraging items 10 appear
in years. If the states perform
ance is duplicated in national fig
ures, which are yet to be compiled,
there Will be plenty of occasion for
the country as a whole fails to
come up to the record of Indiana,
there still remains the basis for
optimism, as the states record,
taken alone. would indicate that 1t
is ambitiouSly attempting to pull
itself out of the hole of depression.
Industry has been beset recently
by complaints of wholesale wage
reductions, a lengthening of work
ing hours. and a breakdown of Ia
Dor standards and fair trade prac-
tees. There reports evidently have
been engendered by those persons
who SurmiSed that the Supreme
Courts decision on the NRA was
the end of the world. They are
grossly exaggerated, particularly in
Indiana
A survey of 989 manufacturing
and non manufacturing industries
reveals that during July employ
ment declined per cent. pay rolls
dipped "A per cent and man hours
worked were 2.7 per cent less. All
Of these decreases. it must be re-
membered. are seasonal occur
rences. If industry had regarded
the demise of the NRA as an out"
there would have been an in
crease in man hours worked. In
stead. the decline is commensurate
with the drop n employment.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
by James E. Bennettl
LOCAL CASH MARKET

City grain elevators are paying 70 cents
for No soft red wheat Other grades on
their merits Cash corn No yellow
n cents and oats 81 cents
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
". Y. Bonds
tBy Abbott, Proctor a. Panel
Reprinted from Saturday,
DAILY RONn INDFYa
U. S. GOVERNMENT BONDS

Copyright to- 1855 H" by Standard Statistics,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05

Receipts 1900
Lambs. 90 lbs. down, good and
choice OBSERVATION-DISCLOSURES. So.OgI 5-V0
Medium ......-.-......---.- o.fo4 oOO
Ewes
(90-l25 lbsl Good and choice 7.oo6 800
All weights. common and me-
IisO-isOl Good and choice. I.5SG ais
The Washington times., 1935-10-04

Washington radio and moving
picture fans will have the oppor-
tunity to hear an unusual broad
cast on Station WRC tomorrow
at midnight, when they will hear
practically the entire cast of prin-
cipals in Warner Bros. moving
picture production Of Shake
speare's "MidS u m m er Nights
Dream"
Among the screen stars from
the cast who will be presented
are James Cagney. Dick Powell,
Hugh Herbert. Frank McHugh,
Olivia de Havilland, Ivan Hunter,
Verree Teasdale and Mickey Roo
ney.
others on the air will include
Max Reinhardt, who produced the
Dream; Jack L. Warner, gen.
eral executive of Warner Bros.
studios; William Dieterle, who col
laborated with DR.. Reinhardt on
the production, and Hal Wallis,
associate executive in charge OF
production at the Warner studios.
The large Vitaphone Orchestra,
conducted by Erich Wolfgang
Korngold, who arranged the mu-
sic for the picture, will interpolate
MendelsSohn selections.
"Hollywood Hotel" dramatic
musical revue starring Dick
Powell. will celebrate its first
birthday on WJSV tonight at 9
o'clock. A musical program, head
ed by Gladys Swarthout and John
Boles, Dick Powell and the Holly
wood Hotel singing headliners, is
being planned. AS usual, Ray
mond Paige's orchestra will fur
nish the musical portion Of the
program.
James Melton returns to the
air tonight in the leading tenor
role of the operetta, The Student
Prince" at the Beauty Box Thea
ter broadcast on WMAL at 8 p. m.
In "The Student Prince" Mel
ton, playing opposite Francia
White. viii have the title role Of
Prince Karle Franz and Miss
White will be heard as Kathie,
the waitress daughter of the tav-
ern keeper.
The Washington times., 1935-10-04
Bids and Proposals

The Alley Dwelling Authority. Washington,
d. c. October 4. 1885. SEALED BIDS,
subject to the conditions herein, will be
received until p. M, E. S. T.. on Friday.
October 18th, 1885, and then publicly
opened, for the furnishing of materials
and performing the work for the con-
struction of: /. Single story automobile
repair shop, approximately 81 x 25'. brick
walls, fire-proof roof, concrete floor, heat
ing, light and sanitation system. Site:
Lots 40, Al, 4S, 40 and so, Square 7B2,
District of Columbia. 2. Seven attached sin
gle story garages, approximately 43' 4s',
with five IT. retaining wall, fire-proOf
roof, concrete floor, wooden doors, and
plumbing for drainage only. Site: Lots
43, ~, 45, and 46. Square 81, District of
Columbia. 3. Twelve storage garages, ap-
proximately 79' K 81. one story high, brick
walls. fire-proof roof, concrete floors,
wooden doors, and plumbing for drainage
only. Site: Lots 92, 93, "a, 95, 80. and
Guaranty in form of certified check will
be required with each bid, in an amount
OF not less than five percent 1871 of the
bid total. Performance bond will be re-
auired in penal sum not less than fifty
percent (50%o) of the contract price.
Liquidated damages for each calendar day
of delay will be Twenty Dollars $4,000
per day. Time will be a material factor
IN eyaluating the bids. No bid which con-
templates period of time for completion
will be considered, but in comparing bids,
no credit will be given for a shorter time
OF completion to less than forty-five (45D
calendar days. Bids must be submitted on
the standard U. 8. Government form of
bid and the successful bidder will be re-
quired TO execute the standard U. 8. Gov
ernment form of contract for construction.
The right is reserved, the interest of
the U. s. Government may require. to re-
ject any and all bids, to waive any in
PFf1a n fU in hi de 10 ~
reject any items of any bid. unless such
bid is qualified by specific limitation. A
copy of the plans, specifications, and in
structiOns to bidders may be had on appli-
cation at this office, with the deposit of
certified check for Fifteen Dollars
(S15OO). Envelopes containing bids
must be sealed. marked, and addressed as
follows: BIDS FOR CONSTRUCTION OF
BRICK GARAGES. DISTRICT OF CO.
LUMBIA. TO BE OPENED FRIDAY. OC-
TOBER 1S. 1895. THE ALLEY DWELL
ING AUTHORITY. 4124 NEW POST Of
FlCE BUILDING, WASHINGTON, D. c.