davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
Chamber of Commerce Demands La7v
to Prohibit Lump Maturity of Bonds
Each Government Unit Is
Urged to Set Up Sink
ing Fund.

Enactment of a law by the State
Legislature to prevent any unit of
government from issuing term
bonds, or obligations which mature
all at one time, is recommended by
the bureau of governmental research
Of the indianapolis Chamber Of
Commerce in a study made public
today. The survey was under the
direction of Virgil Sheppard.
Although Indianapolis has the
lowest net bonded debt per $1,000
adjusted assessed valuation and
next to the lowest on a per capita
basis in comparison with other cities
in the same population class, there
is little or no cooperation among
local governmental units in plan
ming bond issues, the study points
out.
In both the civil city and the
school city bond laws, the bureau
declares, adequate provisions have
not been included for accommodating
sinking funds to meet term bond
maturities. AS a result, within the
next five years approximately So
100000 worth of refunding bonds
probably will have to be issued to
pay bond maturities.
To protect the favorable position
of bonds of local units of govern
ment making debt levies upon In
dianapolis property, the bureau rec
ommends that these agencies form
a joint committee to advise upon
all future bond issues of any of the
units.
1t is suggested that each unit
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
SWINE MARKET
HOLDS STEADY
Cattle Weak to Slightly
Lower; VeaIerS Rise
80 Cents.

A strong undertone prevailed in
the pork market at the Indianapolis
Union Stockyards today and the
majority of classes held steady at
Saturdays best average. Interest
in early trading was about evenly
divided with all grades fairly active
Receipts weres estimated at 4000
around a normal figure, but con-
Sidered light for a Monday session.
The bulk, $50 to 275 pounds, was
selling at $3.50 to 1910. Few good
and choice weights were reported
salable at $915. Light kinds, seal
ing 100 to 16O pounds, cashed in at
So to $8.75.
Extremely small slaughter pigs,
ranging from 100 to 100 pounds, sold
at $675 to SITS. Heavy grades,
weighing 275 pounds and upward,
brought 1855 to $8.85, while good
classes of packing sows were selling
at SITS to $8.25. Holdovers were 138
Developments were slow in the
cattle market, especially steers,
where prices were weak to slightly
lower than Saturdays close. Quail
ity consisted mostly of common and
medium steers. Receipts numbered
1000, including 300 feeder steers.
VealerS were largely so cents lower,
selling at $3.50 down.
Interest was lacking in the lamb
market and prices showed only a
slight change with quality consid-
cred. Bulk of shorn fed Western
grades sold at Sis down. Shorn
slaughter sheep ranged from 81
downward. Receipts were 100.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
FIRST LIBERTIES
MAY EXCHANGE
FOR 27-0% BOND
Holders Also Offered Option
of 5-Year Notes Bearing
158 Per Cent Interest.

By Jnifcd Press
WASHINGTON, April 22.-The
First Liberty bonds sold to finance
American participation in the World
War came back to the Treasury
today for redemption or exchange
into peace-time government bonds.
The refunding will leave but
81 100000 of the original
S25,000,000,000 wartime bonds out
standing. These, the Fourth Liber-
ties, have been called for redemp-
ton before Oct. Is.
Exchange of the 1.933,209, $50
First Liberty Loan bonds into cash,
20 to 25-year 27s per cent bonds or
flve-year Is per cent notes will
save the Treasury $4,000. 900 annu-
ally in interest. it was estimated.
Interest to Cease
Interest on the First Liberties.
now amounting to 81 to Al per
cent, will cease after June Is.
BY late summer, according to
present plans, the Roosevelt Ad-
ministration will have converted the
S8,2O1 3O4,1OO in Liberty bonds out
standing when it took Office, into
lower interest bearing securities at
a saving of $100,000,000 a year to
taxpayers.
In exchange for First Liberty
Loan bonds the Treasury offered 27s
per cent bonds, due March Is, 1860,
but callable March Is, 1855, or is
per cent notes. due March Is. The
exchange will be made on a dollar
for-dollar basis and holders of Firsts
not exchanging will be paid cash on
on June Is.
Secretary of Treasury Henry Nor
genthau Jr ascribed an increase in
private refundings and a new flow
of capital into business to the pace
set by the Federal government in its
own financing program. These
trends, he said. show "conclusively
that the financial log jam has been
broken.
Interest Rates Drop
The ability of the Federal govern
ment to refund its obligations at
lower interest rates has rested upon
a steady decline in interest rates. An
increased flow of capital into bust
ness was reported today by the
Securities and Exchange Commits
sion, however, with a total of $28,-
135, TOO of new issues registered with
the commission in the past week.
The steady decline of interest
rates on government securities was
stressed today by the Federal reserve
board in it's monthly bulletin in
tracing the refunding program the
bulletin said
Compared with an increase in the
total interest bearing debt of the
United States government of one
third in the past two years, the COM
puted annual interest charges on
this debt increased from S720,000000
to S800,000,000, or IL per cent, and
the average rate of interest paid
declined from 3.43 per cent to 2.86
per cent.
This decline reflects both the I'M
usually low rates paid at present
upon short-term borrowings and the
refunding of high coupon liberty
bonds into lower coupon securities.
The present level in yields is the
lowest of the postwar period"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
On Commission ROW

Quotations below are average wholesale
commission dealers:
VI Fruits-B 81 ar 4'4c a. II. apples,
$3.50. Lemons, sunkist, 2eos, s4.25. Grape
less, 1925. Lines Mexican, per carton,
Us. zoe; Byram. Iseedless, per hundred,
$3.50; Mississippi, 24-qt. crate, s4.25.
white, 20-lb. box s2.75. Cantaloupes-
Honey Dews, South America. So; Mexican
s s51Ss' Ns''aF'ne'' South America box
Vegetables-Cabbage, new Carolina,
hamper. s2.75; Florida, s2,75 hamper;
5O-lb. bag, $3.50; new Texas boiler; s9-I6,
bag. s2.25; new Texas white. 50-lb. bag,
s275. Potatoes. Green Mountains, 10o-lo
bag. s1.75: selected cobblers, 15O-lb. bag,
Russ:ts oh i8Sb 00 5as $780, s2 aiS r Taa6o
Triumphs, bushel. 81. Sweet Potatoes. In
diana Jerseys: bushel $3.50; medium or
Beans. round stTingless, hampers, s275.
Celery washed and trimmed, medium,
doz, soc; jumbo, doz., 75c: hearts, doz.,
90c. Cucumbers, hot house, doz., s1.15;
s.. Egg plant, $4,000 doz. Kaie, bushei'
COO. Lettuce, hot house, 15-lb basket.
S2.l0. Arizona Iceberg head lettuce, $3.50.
Mangoes, S5G6 a crate; small basket SOC.
Mint NaItorni doz 81 Parsley doz sSc Peas
hamper, s235. Spinach Texas, bushei.
81. Radishes, dozen. 500 75c. Turnips
bushel, Use. Parsnips, bushel half
6ushel 81 Beets. crate, new Texas, g.
outdoor, doz., soc Mushrooms, ID. 3Oc.
down.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
Other livestock
,Bv United Pressl

BY OnlleQ ETeSSl
1000 direct. active l5a25c higher than
Friday: 200-240 lbs. s9.I5G .: 10000
I6s ssaSl5 i, l4o-lsS lbs IS 50 q Il IL 6 good
top. s925; light lights. l40-lsO lbs. good
and choice SIS 50Gel0: ughtweights. l60-
goo lbs good and Go Sh s90 $3.50 90 me- me-
choIce. SsO5m9.25. heavyweights. 2S0-350
lbs. good and choice. IS 90 s.l5;. packing
81 SOd S 20: slaughter pigs lOO-I4O lbs,
good and choice S7.500S IS. Cattle-Re-
oeiptS. 10000. calves, 1000. strictly 5000
on shipper accounts. some sales nearly
back 20 last weeks high time: general
k,ng quality Gompar2a' I've pam, t9p
about 400 thin New Mexico bred stock
calves and yearlingS. all she stock; gem
erallv steady with better Grades active and
lower grades slow: bulls firm TO shade
higher veslers about steady: steers: Steers.
$4,000 lbs. good and choice. $40 IS i.
iiOO-lsO0 lbs. good and choice. sIl25G
l2o9 9o lHs SOod and ShO dS5
medium. S675Wii rs, heifers. 55o-750 lbs,
good and choice. s9.75Nl225; common and
medium. Sc IS q 10. COWS. good. ST.T5N 10 IS.
common and medium. s. 500 ! Is! low
vearlings excluded. good beef. s6l : so:
cutters common and medium. 81. 75u so.
yealers. good and choice. s. 500 ? SO: me.
a6 so: stockers and feeders. Cattle.
steers 550-lO5O lbs. good and choice SIS SO
GsT5. common and medium. ss25 SIS.
Sheep-Receipts IS O0 fat lambs active;
strong to 25c higher. scattered sheep and
spring lambs little changed. good 10 choice
wooled lambs sSGs.50: bulk above IS IS.
clipped offerings. s675N IS; top. $50:
few merely good s0-lb. spring lambs IS so.
/: lightWeights ouotable higher. slaughter
sheep and lambs. Lambs. 90 lbs. down. good
and choice sSdS.50- common and medium.
Sg25nsl0: sO-ss lbs. good and choice.
S775GsS 0 ss-li70 lbs. good and choice.
S75OIsSO: ewes e0-i50 lbs. good and
choke. Ss.T5Q525: al weights. common
and medium. s2.T5Gs-2S.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
CORN GRIND IN MARCH
SHOWS SHARP DECLINE
Figure IS Per Cent Below Core
spending Month Last Year.

A corn grind during March OF
4574.O00 bushels, used in the manu-
facture of starches, syrups. sugars,
dextrins and other corn derivatives
made for domestic use, was re-
ported today through the Corn In
dustries Research Foundation by all
refinerS.
This figure is Is per cent below
the grind for March. 1884, and re-
fleets an unusually low level OF &C
tivity in the industry. according to
the Foundation.
The total grind for the first quar-
ter of 1885 was approximately H.
100000 bushels. or 10 per cent less
than the total grind for the first
quarter of 1884.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
Color Choice
Becomes Kew
to Recovery
Lack of Orders Due to
Ignorance of Tint Appeal,
Expert Says.

BIZ Times Special
NEW YORK. April 22.-Manufac-
turers of almost all kinds of con-
sumner goods are today becoming
more keenly aware than ever before
of the very close relationship be-
tween sales and color-so much so.
in fact, that color consciousness is
playing very important part in
the recovery movement, according to
Howard Ketcham. color engineer.
Mr.. Ketcham speaks from expert
ence of a number of years in de-
veloping the paint and color sales
of E. I. du Point de NemourS & Co..
Inc, with which he is still aSSO-
cieted on a consulting basis. He de-
vised the automobile color index,
which charts the moving trends in
consumer color preference in auto
mobiles
Red Handles Win Order
He has been color counsel for
kitchen utilities manufactured by
the General Electric Co. and tells
how the failure of one manufac-
turer to recognize that handles for
electric irons in South American
trade had to be Of certain shade of
red lost him a S250,000 order.
A certain red also pulls better
than so per cent of the total sales
in the 10-cent toothbrush market.
Mr.. Ketcham asserts, whereas red
on a 25-cent toothbrush has prac-
tically no appeal, but amber has.
1T was quite surprising to see
how the sale of black automobiles
absorbed larger and larger proper
ton Of the cars sold as the depreS-
sion deepened," Mr.. Ketcham COM
mented. Before the depression
bright colors in multiple hues were
more in demand than black. This
all disappeared and the black line
on our color chart rose to the top
and stayed there.
Brighter HueS in Vogue
Nov, however, brighter hueS
again are coming into vogue. but
consumers are much more sophiSti-
Gated about color now than they
were before the depression, and
dealers have become much more
critical of what manufacturers send
them. Fine differences in shade, il
has been found. mean large differ
enceS in sales. Since that has been
definitely established, manufactur-
erS are watching their step in
regard to color much more closely
by the same token it is evident
that the more intelligent regard foI
color is playing an Important part
in bringing about greater business
activity. BY making goods more ap-
pealing to consumers more are BE-
ing sold, now that buyers are get
ting more money to spend.
But there is obviously competi-
ton among the various objects they
see upon the counters. A careful
study in almost any line of goods
reveals that it is the articles that
ere tinted in accordance with the
psychological reactions of the pur-
chaser that are bringing in the
cash."
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
AWARD RECORD CONTRACT

The largest contract ever placed
for undermining elevator equipment
has been awarded the Otis Elevator
Co. for the rehabilitation of the
elevators in the Municipal Building,
New York City. The contract COW
erS thirty-two elevators and
amounts to $1,350,000.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22

prepare an annual bond program
or budget for the consideration and
advice of the committee and that
the maturitieS Of all future issues
be such as to fit into a planned re-
tirement program.
The practice of the school city in
using the sinking fund to purchase
and cancel bonds before maturity
is open to question, it is said. School
officials are urged to review this
practice and ascertain if a public
saving is effected in the long run.
The use before 1880 of the school
city sinking fund to finance new
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
BORDER PLAN VOTED

Dy tWtVo IPtJIUk
NEW YORK, April 22.-Stock-
holders of The Borden Co. have
approved the recapitulation plan
recommended by the board of di-
rectors. The plan includes reduction
of the par value Of the company's
stock from S25 to SIS and reduc-
ton of the goodwill item from
100000 to 81.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
STOCK AVERAGES RISE
By Times SPECIAL

NEW YORK, April 22-The in
vestment companies common stock
index advanced with the general
stock market during the last week,
as evidenced by the averages COM
piled by Distributors Group. Inc.
The average for the common stocks
of 10 leading management COM
panies. influenced by the leverage
factor. stood at 9.47, compared with
500 on April u,
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
Produce Markets

Delivered in Indianapolis prices: HEAVY
broilers, 2 lbs. and UP. zoe: Leghorn broii-
ers. lbs. and up. Tic; barebacks broilers.
l3c; cocks and stays. &c. Ducks full feath-
cred and fat. &c; geese full feathered and
fat. &c. All classes Of guineas. l5c; No.
strictly fresh country run eggs. loss of
Ice. Each full case must weigh IS lbs.
gross a deduction Of l0c a pound under
SIS lbs will be made. Butter-No. l IS q csc.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
Wall St.
Call Money Rate Cut
Seen Pointing to
General Ease.
by RALPH MISUNDERSTOOD
Times Special Writer

NEW YORK. April %. - Call
! money on the New York Stock
Exchange is now = I of per cent.
This reflects the present state OF
the money market. Reserves OF
the institutions have continued to
pile up, with the result that "n-
derstandings" heretofore adhered
10 are now being ignored to such
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
WEATHER REPORTS
LIFT GRAIN PRICES
Dust Storms, Drought Help
Resumption of Advance.

By United Press
CHICAGO, April 22.-Buliish
weather news from the Southwest
caused wheat prices to firm today
on the Board of Trade.
At the start wheat was Il to g
cent higher, corn was unchanged
to Il cent higher, oats were up 4
to IS cent, and rye was % to Is
cent higher.
Weather news included reports of
dust storms in some areas and re-
ports of continued drought over the
entire Southwest section. Other
grains took their cue from wheat
and hrmed slightly.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22

an extent that
they have been
thrown into the
discard entirely
This renewal
OF open competi-
ton is likely TO
have beneficial
results Il prob
ably VIII be fol-
lowed by a low
ering of money
rates all along
the line. And as
the rates decline
investors a n d
banks are likely
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
ASSETS GAIN REPORTED

Massachusetts Investors Trust re-
ports for the March quarter net
assets of S34. 651, 4O1 compared with
$50 1909 .64S at the end of the previ-
Gus quarter Net assets per share
were S1S.07, compared with $3.50.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
LOCAL CASH MARKET

City grain elevators are paying 30 cents
for No. soft red wheat. Other grades
on their merits. Cash corn No. yellow.
81 cents, and oats AZ cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22

to reach out into new territory to
should result in a further pickup
in business.
The development, though not
unexpected, tends to conform to
the normal recovery pattern. Dur
ing a financial panic such as we
have been experiencing money al
ways becomes exceedingly timid.
Gradually the fear passes, how
ever, and funds begin to flow in
their normal channels. When this
happens the accumulated demands
for goods are given expression in
the resumption Of business activity.
DIG banks and other lending in
I'D stitutions always lead the way
in the resumption of capital move
ment after a panic. From there
the circle widens until it finally
reaches the man in the street, who
begins to invest his surplus savings
in business enterprises. The cut IN
the call rate is of the highest i'm
portance, therefore, from a long
range point of view.
The reduction did not come
about naturally, however, and con-
sequently may or may not be as
indicative of a business pickup as
it would have been under other
circumstances. The government
has been pursuing an easy money
policy for several months, and it
has been responsible in large meas
ure for the huge excess reserves OF
the banks.
When the government first
adopted this policy there were
many who predicted that it would
not be effective. For a long time
it did seem to fall far short Of its
purpose, which was to force money
out into industry. More recently
it seemed as though the theory was
about to work out in actual prac-
tice. Now it is quite certain that it
will.
TITO find employment for their
Il funds the banks and inSur-
dllCe companies llISJ IulllCO " 6OH
eminent bonds. From there they
moved into the State and munich
pal bond fields. OF late the yields
on these securities have become SO
low that the institutions now are
bidding for the better grade indus
trial bonds.
Within the last few weeks several
large corporation bond issues have
gone over very we'll at low interest
rates. The market, in fact. showed
itself to be so good that several
corporations with bonds which do
not mature for years yet are think
ing seriously of refunding them at
the lower rates of interest.
The banks resisted the downward
movement of rates as long as pos
sible but they now seem to be
weakening. Some of their num-
bers began shading the rates on
outside call money, SO now all have
decided to cut rates. This proba-
bly, constitutes an important early
step in the direction of credit in
f1ation.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
Bond Statesmen Stampede

Concomtant lch the signs Of revival in the Unrest
ment market discouraged bond statesmen cho up to
te10 months ago scattered into raos fields in quest Of
Jobs are no'c scurlng back to their old positions.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-22
Money and Exchange
TREASURY STATEMENT

tBy United Press
WASHINGTON. April 22-Government
expenses and receipts for the current fiscal
year to April 10. compared with the cor
responding period of the previous fiscal
Evening star., 1935-11-15
1896 Picture BIouses
}sE'4|' s;Eytz' $2.Q5

-"As pretty Picture-that is what other women say
of the women these lovely blouses They're so
soft so atterng feminine with their draped necklneS
vokes tieon buttons sleeves shrred shoulders White,
gold turquoise brown rose maize red and eggshe Sizes
80 to 40
Sports Shop-Kann's-Second Floor
Evening star., 1935-06-30
Girl and Brother
Wed Together Plan
Double Honeymoon
T,CO Couples to Tour
; NeiU England and
= Canada.

A brother will marry his sisters
best friend, ard the sister will marry
her brothers best friend late today,
and all four VIII take wedding trip
to New England and Canada. This
unusual double romance will culmi-
nate in a pair of weddings at Mary
land Club Gardens.
Jesse Chessin of Ills Connecticut
avenue, George Washington Univer-
sity law graduate. will be married to
Miss Dorothy Huffman of this city in
the first ceremony.
Chessin's sister. Miss Adele Ruth
Chessin, will be married in the second
ceremony to Gus" Mirman, well
known athlete. former Central High
School foot ball star and former
South Atlantic A. A. U. boxing cham
pion.
The double bridal party will leave
on their wedding trip, accompanied
by another Chessin sister, who now
is Mrs. Ethel Robinson, and her hus-
band, DR.. Murray Robinson, both of
whom are en- route to the Canal Zone,
where DR.. Robinson will join the in
terne staff of Gorgas Hospital at An
con. They Plan to sail from New
York tomorrow, and the two brides
and two bridegrooms will continue
with their double honeymoon by
motor car through New England and
Canada.
Evening star., 1935-06-30
GEORGETOWN BUS
EXTENSION PUSHED
Roberts Reiterates Proposal to
Utilities Commission for
Better Service.

Peoples Counsel Roberts yesterday
reiterated his proposals to the Public
Utilities Commission for extension OF
bus service in Georgetown west to
Thirty-fifth street and for establish
ment of a crosstown bus line to run
from Nebraska and Wisconsin ave-
nues to Brooks and.
The proposal of the Capital Transit
Co. for establishment of a street
bus line to run from Wisconsin avenue
and P street to New Jersey avenue
Roberts said, would not fill the need
for a crosstown line farther north.
He asked the commission not to
approve the company's proposal until
it was modified to extend the line to
Thirty-fifth street to provide service
for schools, churches and Georgetown
University.
When the commission ordered
abandonment of the car tracks in P
street it provided for Georgetown
service by extension Of the West End
bus line to Wisconsin avenue and 2
street. One commission official said
yesterday this was regarded as tenn
porary.
The commission has had In mind
for some months the establishment Of
a crosstown bus line, but other rout-
ing plans were given precedence.
Roberts has suggested the line run
from Nebraska and Wisconsin ave-
nues via the Bureau of Standards,
Porter and Klirgle streets, Park road,
near Soldiers Home and to North
Capitol street and Michigan iSenue.