The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-02-09

HighlightS of News
During Last
Week.
BY FREDERICK G. MATsON
Tines Financial Editor

Tines Financial Editor
TALK OF strikes in three major
u industries - automobile, textile
and steel - jeopardized President
Roosevelt's industrial truce. Auto
mobile workers are reported 70 have
sought American Federation OF La
Dor sanction for a strike about
March ! in reprisal against the re-
newed automobile code. Indications
point to a repetition Of the bloody
textile strike Of 1894. The steel in
dustry Is torn BY dispute among
workers. o.. The Indianapolis Pow
er and Light Co still keeps the
average householder paying light
bills greater than those in other
cities OF comparable size. despite
last years reductions, according TO
a Federal Power Commission sur
vey. Nine cities will be included
in an investigation by the Cover
nOr's Commission on Unemployment
TO determine the status OF housing
conditions in the state. The cities
are Terre Hsute. Evansville, Ander-
son. Elkhart. Lafayette. Marion.
Michigan City, New Albany and
Richmond. Meanwhile. bill to
aid savings banks TO make easier
loans under the Federal Housing
Act was introduced in the state
House Of Representatives. .. Bust
ness failures in the United States in
January dropped 10 the lowest total
for that month since 1920. accord
ing TO a Dun e. Bradstreet report.
Total failures we're 1874, far below
the 1864 recorded in the first month
Of 1894. The state NRA bill was
passed by The House Thursday. II
does not retain its controversial
clause giving 70 Gov. Paul v. Nc
Mutt power 70 stop price wars by
setting arbitrarily a price on the
disputed commodity. but does pro-
hibit the selling Of loss leaders"
and destructive price cutting. -.
TRADERS had a bad week on
II the New York Stock Exchange.
The list took the industrial average
into new low ground for the year;
the railroad average to a new low
since 1893. and the utility average
to a new low since 1892. Rails APP
peared TO be the first group to re-
cover at the weeks close. The
first issue of the new government
baby bonds" will be offered to the
public about March at a price be-
tween SIS and S78 for each 500
bond. Thomas jefferson Coolidge.
Under-Secretary of the Treasury.
announced. Eleven Indiana COM
panies and individuals received tax
refunds tOtaling more than 5000
from the Bureau Of Internal Reve-
nue. at Washington. The Amer
lean Railroad Association reported
that revenue freight carlOading for
the week ended Feb. 2 tOtaled $685.
164 cars. an increase Of ~ 1896 above
the preceding week and 80, 1853 above
the corresponding week last year.
RumOrs in Washington indicate
that legislation for continuation of
NRA for two years will veer sharp
" toward industry's plan for self
government. The state legisla-
tive committee investigating the gas
situation IN Indiana continues its
sessions. House Judiciary Commit
tee A reported unanimously in favor
of a resolution, passed by the
Senate. memorializing the United
States Senate to investigate the en-
tire gas industry.
THE du Points again received a
II verbal drubbing from Senator
Gerald P. Nye when he spoke at
Cadle Tabernacle Wednesday night.
National defense has come TO be
nothing more or less than dis
guise for the most damnable racket
ever devised" the senator said. &.
indianapolis Textile Union officials
announced they had been notified
by the National Textile Labor Rela-
tons Board that an agreement with
the Indianapolis Bleaching Co. had
been declared null. The long stand
ing dispute will be aired in a hear
ing 70 be held here. probably next
week Chester c. Davis. Admin
istratOr for he Agricultural Adjust
ment Administration. began his
purge" Of the organization by de-
handing the designations Of six So
called "left-wingerS. men he re-
CARDS as "ballyhOO artists" Hog
prices scared TO the highest level in
more than three years at the Chica-
go StoCkyaIdS. HeavyweightS sold
at a top OF $3.50 a hundredweight,
the highest paid since July 81. 1881.
-. A bill providing that a license
fee of $1,000 be imposed in every
chain store in excess Of 20 operated
BY one firm in the state was intro
duced in the House by John Napier
Lyer ID. VincenneS). DR.. F. E.
Townsend. author of the famed
old-age pension plan bearing his
name. admitted 10 the House Ways
and Means Committee that John D.
Rockefeller or Henry Ford could
qualify for the $500 a month dole.
OPERATING INCOME OF
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