davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
CARRIERS SEEN
DESTROYED BY
PROPOSED LAWS
Recent Suggested Program
Viewed Increasing EX-
penSeS Sharply.
BIZ Times Special

By Times Special
NEW YORK, Jan. 24.-The pro-
gram recently announced by the
Railway Labor Executive Associa-
ton. if enacted. will destroy the rail-
roads beyond the peradventure OF a
doubt, R. V. Fletcher, general coun-
sci of the Association of American
Railroads declared here last night
in an address before the Western
Fruit Jobbers Association of Amer
lea.
With the railroads at this time
making every effort to solve their
financial and other problems, the
speaker pleaded against the threat
ened legislation which, he said,
would increase operating expenses
by approximately S1,250,000000
without any improvement in their
efficiency.
Labor Aims Outlined
The point program advo-
Gated by the Railway Labor EXecu-
tive Association advocates the pass
age of the following.
l. The six-hour day without re-
duction in compensation; "A full
crew bill; ga train-iimit bill; f.
An amendment to the Employers
Liability Act SO as to take away the
defense of assumed risk; SAN
amendment to the Hours of Service
Act reducing the present 16-hour
limit to II and the present nine
hour limit for train dispatches to g.;
"a bill for government inSpec-
ton and control of track conditions
and IA bill for government con-
troll of signal devices.
Il wish it we're possible" Mr..
Fletcher declared" to ignore or for
get this threat by organized labor
to the integrity of the industry.
am sincere in this expression be-
cause I realize the help railroad
management is receiving from Or
ganized railroad labor in the matter
of equality Of treatment for all
forms of transportation.
Asks Self Regulation
IL oCciAlS ~ lie IIlSllly uIlOSSIi dDl6
that any permanent Federal author
ity should be vested with power to
invade the province of managerial
discretion beyond the provisions Of
the act to regulate commerce as it
now exists. 1 submit that the
tendency should be in the opposite
direction and that there should be
accorded to railroad management
the privilege of self-regulation in
those matters which, in their nature,
are distinctively managerial, and
the surrender of which to govern
ment control would be inconsistent
with the theory of private owner
ship"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24

A summary OF corporation news
prepared by the Standard Statistics
Co., Inc, New York, follows:
Backstay Welt Co. declared a
dividend of 35 cents on the COM
mon stock. On Dec. 20, a special
dividend of IS cents was paid and on
Oct. l, 1884, a distribution Of IS
cents a share was made.
Bunker Hill and Sullivan Mining
and Concentrating Co.'S total in
come in November was $47,704. In
the eleven months the total was
$874,734.
Brooklyn Manhattan Transit
Corp. common share earnings for
the six months ended Dec. 81, 1884
were $2.76, against S342.
Brooklyn and Queens Transit
Corp. preferred share earnings for
the six months ended Dec. 81, 1884
were $241, against 1855.
Commonwealth and Southern
Corp. 1884 preliminary preferred
share earnings were $500, against
S.. As.
Du Pont &c. - de Nemours g. Co.
announced the discovery of a new
explosive for blasting and stripping
work. This explosive, called nitro
ammonia, is said to be free from
hazard in transportation and to
make blasting work safe up to the
moment of setting the dynamite
detonatorS
Electric Household Utilities Corp
declared dividend of IS cents on
the capital stock. A similar dis
tribution was made on Oct. IS, 1894
Ford Motor Co.-Cincinnati plant
will resume assembly operations on
March l. Assembly operations at
this plant were closed down in 1882
The Chicago assembly plant has
stepped up its production to 500 cars
day, largest number turned out
by that plant since introduction OF
the Model A in 1927.
Grand Union Co. declared a divi-
dend of 3715 cents on the preference
stock. Previously rs cents a share
was distributed quarterly on this
issue.
General Public Service Corp. asset
value on Dec. 81, 1884, equaled ST.. as
a preferred share, against 1881 on
Dec. 81, 1888.
General Tire and Rubber Co. COM
mon share earnings for the year
ended Nov. so, 1884, were $5.77
against $267.
Hahn Department Stores, Inc.-It
was said reports that directors of
company soon might order pay
ment on account of arrears on pre-
ferred stock were without confirma
ton. Several officials were reported
to have stated they knew nothing
of the report
Hobart Packing Co. acquired Troy
(O0 Match Plate Co., manufacturer
Of brass and aluminium castings.
Hudson & Manhattan Railroad
1884 preliminary deficit was $150,851
against deficit of $86,235.
International Agricultural Corp
president said that at least 90 per
cent of company's business in 1894
was done on cash basis. Counsel
said matter of clearing up preferred
divided arrears has been given Sc
rious consideration, but payment
depends largely on business condi-
tons this year. The company has
reduced its bank debt steadily and
now has on hand cash amounting
to about 100000.
Mcintyre Porcupine Mines. Ltd
Common share earnings for the
nine months ended Dec. 81, 1894
were $3.50, against $34O.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Produce Markets

Delivered in Indianapolis prices: Heavy
hens. I3c: Leghorn hens. &c; colored
SpringerS. 12c; large stays, SC; Ieghorn
stags, Sc: old ROSTERS. Sc; ducks, &c;
geese, &c: young guineaS. zoe; old guineas,
i5c Turke}ys-No; l young hens la lbs lbs lbs
over. l5c: young toms, lila lbs, lsc; No.
?. crooked breasts and thin turkeys. &C;
old toms. all weights. lie: No. strictly
fresh country run eggs, less Oh. 2Sc.
pound under IS lbs. will Sc made. Butter
No. l. $50 sec. Butterfat-30c. quoted
by the Wadley Co.
(By United Press)
CHICAGO Jan. 4.-Eggs-Msrket firm:
receipts. 1851 cases: extra hrsts. 3o94c;
5ssc Suites dirtes 2sisc: checks. Csc Buttsr
Market. firm; receipts. 1881 tubs; extra
scSrel. s4'4c: frsts yss-s9is scoTel s2isa
s s1e se09 ss ss.c stsndards
Poultrv-Market strong; receipts, Is trucks.
one car due: springers. lec; Leghorns. l5c;
Leghorns. Ice capons. s TO Z lbs. lsis@
use: Leghorn hens. l5e; stays. lSc; hens,
Ice: ROSTERS. l4c; oroilers u = = &c:
Longhorns. I6is q 1880. Potat oes-Supply
moderate: no trading on account OF
weather; operators not opening cars; mar
ket nominally UNCHANGED. Arrivals 20. on
track 1914. shipments sos.
CLEVELAND. Jan. 24.-Butter-Market
firm; extras. sse: standards. .s7iac. Eggs
receipts: 2se. .Poulsry.MsFkst steady:
ducks. light, Isl ducks lbs: and up.
PfSoatiatoss~Maine, sIlsSIss a. loo.l6 bag:
Ohio best mostly asa 65c Q 10Q-lh bag;
New Jersey. 81 loo-lb bag.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Asks Self Regulation
CABELL TO BE CHIEF

By ItmeS special
CHICAGO, Jan. 24.-R. L. Cabell.
general manager of Armour e. Co,
will succeed to the presidency of the
company tomorrow when he is for
mally elected to that post at the an
nual meeting of stockholders and
directors.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
COTTON GINNINGs OFF

WASHINGTON, Jan. 24.-Cotton
ginned from the 1884 crop prior to
Jan. 16 totalled 9,38O,348 bales COM
pared with 12,556,729 bales ginned
from the 1888 crop prior to the cor
responding date last year, the Cen
sus Bureau reported today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
FRUITS AND VEGETABLES
BY United Press

BY United Press
CHICAGO. Jan 24-Apples-Michiga
Mcintosh. bus. si.65Gl.75; Jonathans.
81 50G175. Caulihower-C alfornia. crates.
81 5OGt.65. Cranberries -MaSsachusettS. =
bbl IS. CabbaCe-WiSco 10O-lo. SACKS.
Si6l25 Sweet PotatoeS-TennesSee bu..
81 z 10; Indiana 81 35al60. CarrotsE-
igan. 50. crates. SlGl50. Turnlps
bu., asa soc. Lettuce-Western. crates.
So 50f 9 so. Celery Cabbsse,. Michigan. -aat
Use Besns-Fiorida. bu. hampers, S3G7.
Rhubarb-Miohiean. 5 lbs, 20I3S Bets
400 SOC.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Hides and Skins

Hides-Green country COWS and steers
&c nat, green country bulls ana CLUES.
1isc 1t: green country calf hides. sac:
nat: green country kip &C, No. l. large
horse hides with fun heads. shanks. names
and tails S775. medium size 50 IS. AL No.
Z grade horse hides soc less. glues and
ponies half price. No. I rendered tallow.
4d4isc: No. 2 az value. yellow grease
SisG3&c: dark grease. Sd3hc.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Other livestock
CRr Times SnAciaN

tBy IlmeS SpSClalt
LOUISVILLE, Jan. observation-disclosures.
200. supply light quality plain: demand
fairly broad; market fully steady; bulk
common TO medium slaughter steers and
heifers. s5I725; better finished kinds
ouotable from $3.50 up to around So so for
strictly good offerings, bulk beef cows.
So so a $50: good kinds up TO IS and above
for heifer types; low cutters and cutters
sl75G3: sausage bulls scarce Quotable
mostly from s4.25 down; good heavies
higher: common to medium stockers and
feeders mostly S4251 $50: desirable Here
ford stock calves, s6G6.50. Calves-Re-
ceipts, $50; market. steady; bulk good to
choice vealers, S9Gl0: medium and lower
graoes. $3.50 dow nto around IS for light
culls. Hogs-Receipts. IS for light culls.
Hogs-Receipts. 500, market, l0c higher;
early sales on ie0-275-lb. weights S7.s5;
top for $50 lbs. up mainly $3.50: l6o-175
lbs. $3.50: 140 -l55 lbs, $3.50; i20-i35 lbs.
S565: Sows. $500. Sheep-Receipts. so,
generally steady; most medium to good
lambs ouotable from s7.5oG6.50; choice
offerings eligible to 50 or better; common
light throwouts mostly Sc: fat ewes quot
able. S2.5oG2.50.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Wall St.
Business of Future
Seen Drifting to
Small Units.
by RALPH MISUNDERSTOOD
Times Special Writer

NEW YORK, Jan. 24.-Serious
~ thought is being given these
days to the question Of whether
billion-dollar corporations and in
stitutons are economically suited to
the needs OF this country. Some
very responsible people are doubt
full that such is the case, and pre-
dict that the future will witness a
drifting toward smaller business
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24


In the boom pc
Rod Just prior to
1929 the idea that
big units made for
economic produc-
ton and service
was accepted quite
gener ally. T h e
thought was ad-
vanced that a group
of men who could
manage a small
successfully
could do equally
well with a big
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
(By Abbott. Proctor & Painel
GRAIN PRICES HOLD
IN INITIAL DEALINGS
Little Incentive for Traders
Present at Chicago.

By United Press
CHICAGO, Jan. 24-There was
little or no incentive for grain trad
ers on the Board of Trade today
and prices were about steady.
At the beginning wheat was I'M
changed to off Il cent. corn was
up Is cent, oats we're up Il cent,
and rye was unchanged.
Trading was at minimum, with
little outside interest shown. Liver
pool was steady to a shade lower.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
What Does 1t Mean?

Big Board-This term is usually applied to the Ne0
York Stock Exchange the largest stock exchange in the
country. The Board Of Trade in Chicago where grain
dealings take place, is knol0n as the Pit"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Sees Sanctity Upheld

Then it could go on to point out
that the gold coin clause is a COM
modify clause and is not equivalent
to the gold value clause. The cred
itor only has the right to receive
gold coin ard not the value thereof.
Since it is illegal to hold gold (and
nc one questions the right of Con-
gresS to forbid citizens to hold
gold, it is clear that, under this
situation, a condition will arise in
which the debtor will not be able to
fulfill his contract because of an act
of Congress. BY such an action the
court would uphold the sanctity of
contracts and at the same time pre-
vent any of the confusion which
may arise if the equivalent of gold
coin had to be paid in paper.
Under these conditions the hold
erS of bonds with the gold value
clause, which, to the best of our
knowledge, is contained in only a
few bonds, would receive SO per cent
more. The others would receive no
additional income. If this type OF
decision is rendered it should have
no adverse effects upon cOmmodi-
ties or securities, and at the same
time it would have a stimulating
effect upon business because the
sanctity of contracts had been up
held.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
JOINS CLEARING HOUSE

The Fidelity Trust Co. was elect
ed to membership in the Indian.
apolis Clearing House association
today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24

ONE reason aScribed for this is
~ that TIE management is able
to put men it has trained for the
Jobs and with whose work it is
thoroughly familiar into key posi-
tions. Another is that it is &C
quainted with the needs of the
communities which it seeks to serve.
It is quite possible, therefore, that
the trouble, if any. with some large
corporations today is not to be
found in their size.
Henry Ford has been successful in
applying mass production in the
making of automobiles. Some say
he is a genius, while others give
credit largely to the organization he
has been able to build. The ques-
ticn of big corporations is one which
deserves considerable thoul It, but
it also is one which can not De an
swered offhandedly.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Money and Exchange
TREASURY STATEMENT

WASHINGTON, Jan. Achievement
expenses and receipts for the current fiscal
year to Jan. %, compared with the cor
responding period of the previous fiscal
year:
This year. Last year
Expenses S. 1924, 569.73 SO. 384 74O, asa 26
Receipts. 1888, 1850 1928 726, 047. 81
Deficit -. 1916 488, 28S so i,750O14. 416 SO
Cash bal. 1894 $50, 66973 500 842, 2102 20
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Retail Coal Prices
DOMESTIC RETAIL. PRICES

The following prices represent quota
tionS from leading Indianapolis coal deal
ers: 25-cent carrying charge per ton
will be added
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24

CONDITIONS such as these do
~ not exist in all large corpora
tions, however, so one is inclined to
wonder whether the fault is with
the nature of the business, the
management or the organization
which has been perfected. Perhaps
it even might be with the manner
in which the concern was put to-
gether.
It has been found in chain store
operations. for instance, that the
chain which has been built up
steadily one unit at time until it
has reached large proportions is a
much better working organization
than one which has been construct
ed by merging two or three good
sized concerns into one.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
No Return to Old Basis

If there is one thing that we can
be sure of it is that there will be
no return of the old 100-cent dollar.
Although many people feel that it
was mistake to devalue in the first
place, the harm that has been done
by this action can not be eliminated
by the return to the former status
quo. Under the devalued dollar new
conditions of adjustment and
equilibrium have been set up and a
change from the present status quo
would merely mean further dis
equilibrium and disorder.
The question arises as to what
steps can lie taken to avoid con-
fusion if the resolution is declared
unconstitutional. There are two as
poets to this question. First, what
can the Supreme Court do? Second,
what can Congress do? In connec-
ton with the Supreme Court, an in
teresting and plausible suggestion
has been advanced by Professor
Nader of New York University. He
that ii the court should
take a strictly legalStic point of
view it could declare the resolution
unconstitutional.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
(By James E. Bennettl

LOCAL CASH MARKET
City grain elevators are paying SO cents
on their merits. Cash corn No. yellow
so cents and oats As cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
MANY OUTLETS
ARE AVAILABLE
IN COLD RULING
Tax on Profit, Initiation or
Moratorium Suggested
on Adverse Decision.
J. BACKHAN AND A. L. JACKSON

j. BACKlnAN AND A. L. JACKSON
Editors. Economics. Statistics. Inc.
NEW YORK. Jan. "a. - No de-
cision OF the Supreme Court in re-
cent years has been awaited with
greater eagerness and more anxiety
than the decision regarding the
right OF Congress to abrogate the
gold clause. One point must be
clearly defined: The question before
the court is not "the right of Con-
gress to devalue the dollar" Git def
nitely has that right. The question
is. Has it the power to abrogate
contractS?"
The right to devalue does not give
Congress pari passu the right to
change contracts. The two are not
inseparably bound together. A de-
cision adverse to the government
will not imply that the devaluation
of the dollar is unconstitutional. 1t
will only mean that Congress can
not abrogate contracts. The sup
position on the part of some people
that such a decision would mean a
return of the old gold standard has
no legal basis.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24

company. And, to follow out this
reasoning, 1t was pointed out that
II two small concerns we're brought
under one head the executives OF
one Of the companies could be dis
pensed with at a big saving.
In theory the idea sounded well.
In actual practice. however, 1t de-
veloped certain complications. 1t
was usually found that few execu-
tive heads were Topped off after
mergers were effected and that the
anticipated savings from that angle
we're not forthcoming. Also, 1t was
found that it was no easy matter
to weld two organizations together
into one smoothly working unit.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24

DUT, of more importance than
II anything else. the men at the
top frequently lost contact with the
actual operations Of the business
and made many grave plumbers in
matters of policy. This was par
ticuIarly true, of course. in the larg-
er computations.
It so happens that most big cor
poratons are governed more or less
on army principles. The private IN
the ranks is a yes" man to the
corporal and the corporal to the SER
geant, and so on up the line. The
private soon becomes convinced that
he is but a cog IN the wheel, and
the general is kept in almost COM
plete ignorance of what is going on
in the field. The men at the top
would not recognize the men at the
bottom if they met them in the
street. Red tape grows with great
rapidity.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24

considered equivalent to the gold
value clause? There are several
programs that could be adopted:
processing tax could be levied on
all creditors receiving the SO per cent
for the benefit of the debtors who pay
1t. IN this way nobody would benefit or
be Eurt by the decision.
Congress could provide for the pay
ment in bullion and then seize the bull
In this case again nobody would benefit
They could tax the appreciation in
interest and principal.
They would initiate currency in order
to ease the debt burden.
A large number of other suggestions
have been made. such as a constitutional
amendment. monetary moratorium. en-
largement Of the Supreme Court. etc.
The possibilities outlined above
indicate the various steps that Con-
gresS might take to counterfeit an
unqualified decision declaring the
resolution unconstitutional. 1t is i'm
possible to forecast what the SUI
preme Court will do or say. How
ever, it appears to us that there is
one thing about which we can rest
assured, and that is, regardless of
the decision, nobody will get SO
per cent more than he now receives
and be able to keep it.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Alternatives Suggested

Secondly, what can Congress do if
the resolution is declared unconSti-
tutional and the gold coin clause is
considered equivalent to the gold
value clause? There are several
programs that could be adopted:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
Malcolm M. Moore and Ass,

500 Continental Bank b
H. Edgar thinner
H. Bingham Booker
Charles L. Nicholson
Ralph w. Hackleman
Kenneth j. Calm
Thaddeus r. Baker
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-24
N. Y Bonds
(Reprinted from Yesterday
DAILY BOND INDEX
U! S. GOVERNMENT BONDS

by Fenner & BeaneI
The Washington times., 1935-10-07
GIRLS CHARGE
HOLDS VET

MINEOLA, N. Y, oct. 7 UN,
S0.-Everett c. Applegate, 3S,
prominent American legionnaire,
was held here today on charge
of criminally aSSaulting 15-year.
old Ruth Creighton. His arrest
followed disclosures during an in
vestigation of the death Of Apple
gates wife, Ada, from arsenic
poisoning.
Mrs. Applegate died 10 days ago
in the home she and her husband
shared with Ruth'S parents, Mr..
and Mrs. John Creighton, who
were acquitted in a poison-murder
trial in Newark, N. j., IL years
ago. 1t was not, however, until
last Saturday night that police
disclosed 81 grains of arsenic had
been found in her body.
Inspector Harold r. King, OF
the Nassau police, said he was un-
certain whether the death was
due to suicide, although no clues
had been found to indicate the
poison was not Self-adminiStered.
Creighton, 81, and his wife, SO,
were indicted in Newark in 1928
on charges Of administering ar
senic that caused the death OF
Mrs. Creighton'S brother, John r.
Avery, 18. Both were acquitted.
The Washington times., 1935-10-07
COTTON STEADY
AFTER DROP

NEW YORK, Oct. GN.S0.
The cotton market steadied after
q slight decline at the opening on
lower Liverpool cables. There was
some hedging in the more dis
tant contracts, which was can
celled in later trading as better
demand developed for these
months.
The trade was actively support
ing the near contracts. The Far
East, commission houses, the
Continent and Wall Street were
also buyers. Spot houses, the
South, New Orleans and locals
were principal sellers.
The latest cotton crop estimate,
by the International Statistical
Bureau, raises the figure to 11,799,-
600 bales as contrasted with the
Government report Of last month,
of 11,489, 900 bales. Although the
first estimates issued on crop
prospects for this month tended
lower than the September Govern
ment report, the last few have
been raised considerably. Trade
interest is now concentrated on
the official estimate due at II
O'Clock tomorrow.
The market was not very active
and prices tended to hold in a
fairly narrow range. Towards noon
December was quoted at 1904 off
/, March 11.03 up l, May 11.09
UP ] and July I'LL unchanged.
The Washington times., 1935-10-07

pOT GIO1los =,
Motors, mail orders, steels, oils
and rails gave the best perform
ance. Coppers sold at new highs
at the start in response to the
rise of the metal abroad to new
high at 9.10 cents but eased later
on profit-taking.
Spiegel Up Three Points
Spiegel sold up three points on
the dividend resumption, while
Stewart Warner was in demand.
Chrysler set the pace for the
motors, rising over a point to ap-
proach it's years high. General
Motors was active and strong. Ac-
cessories improved in sympathy.
U. S. Steel rose a point and
Bethlehem was fractionally bet
ter.
The rails were improved. At
Gibson rose over a point and New
York Central and Pennsylvania
were in demand.
Case ThreShing hit new high
and Westinghouse was strong.
Utilities were steady.
City Ice & Fuel sold down to
q new low. Socoay Vacuum dup
Heated it's 1885 low. International
Harvester, American Can and
Owens Glass lost a point each.