davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
Little Effect in Prices
By United Press

BD CHNcn PffSS
NEW YORK, Feb. l. Extension
by the Commodity Credit Corp. of
IL cent loans on approximately A.
100000 bales of cotton had little
effect upon price movements today.
The move had been anticipated
in the cotton trade. Washington
developments within the last few
months had indicated that the pow
erful agriculture group in Congress
would not countenance dumping of
this huge supply on the market.
Furthermore, liquidation of this
staple at current average price of
about lis cents would have cost the
government millions of dollars since
1t is estimated that an average price
of about 12.5 cents a pound would
have to be received for the loan
cotton in order for the government
to break even.
The statement accompanying the
extension was regarded with partic-
ular significance, being interpreted
in trade quarters as an indication
that the government agency would
release cotton from time to time
without placing too much pressure
upon the market. Through this
method the government, it was said
would dispose of these troublesome
stocks and at the same time guard
against price decline.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
ESQ MILLIONS IN
COTTON LOANS
ARE CONTINUED
Commodity Credit Corp.
Acts to Prevent Dumping
on Market.

WASHINGTON, Feb Approx
mately $260,000,000 in loans on A.
100000 bales of cotton falling due
today vii be continued, the Com
modify Credit Corp. announced.
Corporation officials said the q
cent cotton loans maturing today
would be carried past due in order
to prevent the cotton from being
dumped on the market.
/"Orderly marketing in the interest
of all cotton growers and the future
price of cotton as we'll as the pres
ent is and will continue to be the
principal objective of those charged
with the responsibility of admins
tering the loans and seeing that the
cotton is marketed with these pur-
poses in view as contemplated in the
act under which the loans we're
made" an announcement said.
Officials said efforts would be
made to work out arrangements to
market the cotton gradually. Jesse
Jones, Reconstruction Finance Corp.
chairman, said cotton held as Sc
curity for the IL cent loans would
be marketed Sin an orderly fashion"
Hopes for disnesing of the cotton
on world markets were increased by
Department of Commerce statistics,
showing larger exports and increased
domestic consumption of cotton in
recent months.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
B0NDH0LDERS
ARE SQUEEZED
Articles Suggests Investors
Guard Against Lower
Dollar Income.
Tim es SDeci0l


BOSTON, Feb. 1.-As the calling
of to per cent bond issues and
the refunding by 81 to 4 per cent
issues continues undated in volume,
trust funds, individuals and estates
holding bonds that have been re-
funded are being squee by
the combination of lower interest
rates and higher living costs, &C
cording to Brevits, weekly publication
of Massachusetts Distributors, Inc,
general distributors for shares of
Massachusetts, Investors Trust.
The article does not advise against
the purchase or holding of bonds at
the present time. but suggest that
vestors build some defense
against the possibilities of a con-
tinued reduction in dollar income
through refunding operations and
the possibilities that the reduced
number of dollars received will buy
still less in goods and living as time
goes on"
The article also points out that
since March 1888, the purchasing
power Of the dollar has decreased Is
per cent as the result of an increase
in the cost of living since that time
amounting to IT'S per cent.
1t is noted, however, that further
increase of about % per cent could
take place before 1926 levels are
reached. The rise in commodity
prices since March 1888, amounting
to 352 per cent. is held as being
largely responsible for the increase
in living costs.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
KASTAN BAKERY TAKEN
OVER BY REGENSTRIEF
$4,000 MOdernization Program for
Plant Is Announced.

Acquisition of the Kastan Bakery,
818 S. Meridian-st, and a S25, 900
modernization program for the plant
was announced today by Issac Re-
genstreif, president of the South
Side Baking Co.
Work will be started Immediately
on the new plant, which will be
operated under the name of the
Regen Baking Co., and will include
modern exterior, complete interior
remodeling and new equipment for
the production of quality breads
and pastries, Mr.. Regenstreif said.
Associated with Mr.. Regenstreif in
the new enterprise will be his sons,
all of whom hav chad wide ex-
perience in the baking industry.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
BETHLEHEM STEEL NET
INCOME AT S4,291,253
Earnings Equal to $3.50 a Share on
Preferred Stock.
I i'm es Special


NEW YORK, Feb. Preliminary
reports of the Bethlehem Steel
Corp. released today showed net
earnings of $4,291.253 for 1885, COM
pared with $550,571 in the preceding
year. This is equivalent to $459 a
share on preferred stock, against
only So cents a share on the same
stock in 1884.
After allowance of preferred divi-
dends, net income of the corpora
ton for the December quarter
amounted to "a cents a share on
common stock. In the final quarter
of 1894 the company earned A
cents share on preferred stock.
Gross sales for the year will total
approximately S192,543,358, COM
pared with S167,736,1 24 in 1884, the
report stated. New business booked
by the corporation increased to
$210,033, 800 from $157, 340,326 year
ago. Current operations were re-
ported at A per cent of capacity.
against 43.9 per cent in the final
quarter of 1885.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
INSURANCE MEN MEET
Howard Nyhart Agency Hold Sales
Congress at Columbia Club.

Members of the Howard E. Nyhart
agency of the Connecticut General
Life Insurance Co. are attending a
sales conference at the Columbia
Club today. Speakers are T. P. Rise,
assistant superintendent of agencies
and George Goodwin, secretary of
the ccid ent department at the
home Office, Hartford Conn.
Other speakers include Carl B. En-
dicott, past president of Kiwanis
International and the company's
representative at Huntington; Her.
bert j. Foelber. district manager at
Fort Wayne; Ben o. Stoner, district
manager at South Bend; John G.
Hargrave, La Porte. and James L.
Rainey, manager of the Guardian
Life and president of the Indian
apolis Association of Life Under
writer's.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
Busigruphs

One-fifth more cotton was con-
sumed by the cotton mills of this
country in December than in the
same 1884 month. An analysis shows
that 80 per cent of this consump-
ton was in the cotton growing states
and ID per cent in the New Eng
land states.
Comparing the five months ended
December 81, 1885 with the same
1884 months, the New England mills
consumed 4 per cent less cotton,
while mills in the cotton growing
statessused 10 per cent more cotton.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
FREIGHT LOADINGS
DECREASE IN WEEK
Total Reported at 5S4,69I Cars for
Period Ended Jan. Is.
BIZ United Press

DV CHtieu FFCSS
WASHINGTON, Feb. 1.-The AS
ISOLATION of American Railroads to-
day reported carloadings for the
week ended Jan. 25 totaled 584.691
cars, a decrease of 26,717 cars under
the preceding week, but an increase
OF 29,l63 cars above the 1885 week.
Loading of miscellaneous freight
totaled 208,026 cars, a decrease of
21,871 under the preceding week, but
1883 over the 1885 week. Loadings
OF merchandise in less than carload
lots totaled 144,181 cars, a decrease
f 1885 under the preceding week
and 2,131 under 1885.
Coal loadings amounted to lat $50
cars, an increase over the preceding
week of 6,810, but 5906 cars below
1885. Grain and grain products to-
tailed 29,140, decline of 5,575 cars
under the preceding week, but an
increase of 5,542 above 1885. Live
stock loadings totaled 1854, a de-
crease of 1899 under the previous
week and u, 265 cars below 1885.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
TRADE VOLUME
UP so PER CENT
AT SHELbYvILLE
Merchants Group Reports
Steady Pickup in
Business.
Times Speci1l

Times Special
SHELBYVILLE, Ind, Feb. IAN
increase up to so per cent in volume
of business here within the last four
months was reported today by A. D.
Spurlin, secretary of the Shelbyville
Merchants Association.
Furniture manufacturing has been
the city's chief industry for many
years, Mr.. Spurlin pointed out. The
stock market collapse of 1929 had
an immediate effect on this indus
try, causing Shelbyville to suffer
more than many other communities
during the depression.
Local furniture factories have re-
sumed operations on close-to-
normal scale since the summer of
1885, and their representatives came
back from the recent furniture mar
kets at Chicago and Grand Rapids
with numerous orders and were
jubilant over the prospect for the
year
Chambers Corp. Keeps Busy
Busiest among the local manu-
featuring plants is the Chambers
Corp, which now employs about 300
men in the construction of "fireless
cooker" gas ranges. The corpora
TONS output has increased in the
last four months from 60 stoves a
day to ITO day.
Out of about $500 people employed
in local factories, 1900 or more are
working in furniture plants. Two
new furniture factories, the Gerling
Manufacturing Co. and the Henry
Joseph Furniture Corp, have been
opened in the last six months. Old
err concerns in that same line of
production are the Albert Furniture
Co., the Spiegel Furniture Co., the
Shelby Shops, Inc, the Davis Bire-
ly Table Co. and the Meloy Manu-
featuring Co.
The Kennedy Car Liner & Bag
Co. employs about 300 men and
women in the production Of paper
bags and other printed paper items.
Smaller local concerns produce car
pet sweepers, women's garments,
canvas gloves, mirrors, overalls and
other articles. SeaSonally, three
canning factories provide addition
al employment.
New Developments Under Way
Government money" by the hum
dreds of thousands is expected to be
placed in circulation here in 1886,
with three major PWA projects
scheduled for completion this year.
One is the construction of a new
court house, at a cost Of approx
mately $225,000. Another is the
construction of new concrete
bridge over Blue River, at the
northern edge of Shelbyville. The
third improvement is the rerouting
and paving of State Road A, be-
tween Shelbyville and Rushville.
PWA workers also will be engaged
in the erection of consolidated
school in Union Township, east of
Shelbyville.
Development of a Rural Electric
Membership Corp in Shelby County,
to provide electric lines for farmers
in the county not already served by
existing lines, is now under way,
and a Federal loan of $475, 900 will
be sought to finance construction Of
the lines.
Local dealers in electrical equip
ment anticipate a decided stimulus
to their business with the compile
ton of the RENO project in the
county.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
On Commission ROlU
Reprinted From Late Times Yesterda,

(Reprinted From Late Times Yesterday
Quotations below subject to change are
average wholesale prices being offered to
BUYERS by local commission dealers:
Fruit-Cranherries. C. Homes, Eat
ton D'Anjo. s3.25. California avacados. So.
Bananas-Seven hands. pound. SC. Per-
simmons-California. lug. Sl25. Apples
Jonathans, sh5o; Delicious. sl75 Veal
thys. sl.25: Grimes Golden. sl2S. Lemons
-sunkist, sos, ss;7S. Grapefruit
s275. Limes-Mexican, a carton Us. Csc
34-lb. sawdust chest S37s.
Vegetables-Beans, green round string
less. bu., sS.25. Beets-Texas. 3 doz. crate,
81. Cabbage-New York Danish, 50-ib
bag SOC. California. crate.
sl7s. celery-Florida washed. doz soc a
Sos Observation-Disclosures. doz.. si.75:
sS 7sc % Let s1 1aabIsvViFs caIi.
ID. basket Sis. Endive-California,
basket. 90c. Mangoes-Florida crate
$3.50; small basket, $50. Mint-Hot-
house. bunch. 75c Mustard-Texas. bu
s1.35. Onions-Indiana yellow 50-lb' bag
Si.l5: fo-lb. bag. Csc. ParSlev-South-
hampers. s2.7s; Texas hampers, s2'5o. P Pc.
Michigan Round White. iOO-lb. bag. siss:
Early Chios bu.. sis5; Idaho Russets
s2.s5. Sweet potatoes-Indiana JERSEYS
bu. $3.50. Radishes-o button, doz
baskets. 4oa soc, sage-Doz.. 45c Spinach
s250 Tomatoes-io-ib. basket rSpacEed
<l.25. BIB. basket. $i.35.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
STEEL MAKING.
POWER OUTPUT
REFLECT CHECK
Tapering OFF of Industrial
Activity Has Effect
on Two Lines.

Times Special
NEW YORK, Feb. 1.-The sea-
Sonal recession in industrial opera
lions, particularly the lull in the
motor car industry, continued to act
as dampening influence on iron
and steel production and electric
consumption, it was disclosed here
today.
Production of electricity by the
electric light and power industry
last week was 1855, 507 900 kilowatt
hours, contrasted with 1871 $50. 900
kilowatt hours in the corresponding
week last year, an increase of 9.8
per cent. the Edison Electric Insti-
tute reported
In the preceding week output
aggregated 1,949 $4,000 kilowatt
hours, an increase of 90 per cent
over the same 1885 week, when the
figure was 1,77S,273,0OO kilowatt
hours.
Spread Over 1885 Cut
Four of the seven geographical
regions of the country reported re-
duced percentage improvements over
a. year ago. The widest change was
in the Rocky Mountain area, where
the gain was pared from 234 to ga
per cent. On the favorable side the
best showing was contributed by the
West Central territory which raised
its gain from 10 to lit per cent.
The lull in the motor car industry,
as we'll as among other steel con-
Stunning interests, has had its effect
on market sentiment, the Iron Age
declared in its weekly review. Pro-
jected advances in various finished
steel products now seem remote, and
-integrated mills are increasing
their pressure against present semi
finished quotations in an effort to
restore the margin that their prod
ucts formerly held.
Used Cars Seen Key
used car sales, which hold the
key to the production of new mo-
tor cars" the review continued,
have been virtually halted. But in
the face of this condition automo-
tive orders for sheets have improved
slightly, though they were uniformly
for small tonnages, rejecting the
current conservatism of the motor
trade
Meanwhile, railroad demand for
steel continues to improve, and
greater activity is noted among ma
chinery builders, farm equipment
makers, valve and fitting shops.
washing machine manufacturers and
stove plants"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
CHICAGO SPRING SHOW
TO>BEGIN ON MONDAY
27OO Manufacturers, Wholesalers
Expected to Attend.
Times Special

Times Special
CHICAGO, Feb. 1.-The annual
spring market opening, sponsored
by the Chicago Association OF Com
merce, to start next Monday is ex-
pected to be attended by approx
mately 2700 manufacturers and
wholesalers, it was announced to-
day.
Out flown merchants attend
ing the meeting will be given full
opportunity to become acquainted
with the latest in Chicago wares. A
fashion show is to be held in the
Stevens Hotel, gift show in the
Merchandise Mart, and other i'm
portant expositions also will be
held.
Through special arrangements
with various railroads, visiting
merchants will be able to save a
third on fares of round trips from
most American states and some
Canadian provinces. The spring
show is to last two weeks.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
Trends
Boosting of Margin
Requirements Is
Significant.
by JOHN T. FLYNN

NEW YORK, Feb. 1.-The stock
IN market-our ancient irritant-
begins to get into our hair little
once again. Stocks persist in rising.
Volume of sales clings close to the
&wo million mark. 1t has been
-rouno three million a day for
brief periods. There is feeling in
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
F. G. AWAIT TO RESIGN
Controller of Currency to Take
Up Law Practices.

bU UHITtU PFCSS
WASHINGTON, Feb. IF G,
Await, who piloted the tion's
banks through the 1888 bank crisis,
will soon resign as deputy con-
troller OF the currency and take up
private law practice, it was learned
today.
Mr.. Await. who has been with
the Federal Treasury 16 years, was
active controller of the currency
from September, 1882 to April, 1888,
a period when Federal authorities
were confronted with the banking
crisis.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
Produce Markets
(Reprinted From Late Times Yesterd

Reprinted From Late Times Yesterday
The prices quoted are paid for stock
gathered in the country. while delivered
IN Indianapolis the price Is cent higher
er. Heavy breed hens. lac; leghorn breed
hens. l3c. Leghorn Springers. lac: old stags
13c; old cocks &c. Ducks. white. lbs
sizes, ioc: all euineas. IL lbs. and up. i5c:
No. sfictly fresh eggs loss of. Ale Each
full base must weight SIS lbs gross q de-
viii be made. No. / butter 37isG3 sisc:
No. 34zs@35kc. Butterfat, sac. Quoted
By the Wadiey Co.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
DIVIDEND IS ANNOUNCED
Depositors of Fort Wayne Bank To
Receive S3,1O0,000.
BIZ United Press

BU JHlttG FFtSS
FORT WAYNE, Feb. l. Pay
ment next month of a 25 per cent
dividend amounting to $3,100,000 by
the old First National Bank ard
Trust Co. receivership was an
nounced today by John M. Young,
receiver.
Distribution of the dividend
checks is to begin Feb. Is, following
their countersigning by the con-
troller of the currency in Washing
ton. The payment will affect ap-
proXimately 5000 persons.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
New Business Books
Available at Library

The following new business
books are now available at the
business branch of the Indian
apolis Rublic Library:
THE MONEY REVOLUTION. nv
Sir Charles Morgan-Webb - The
moves on the chessboard Of LiIance
since 1922 . a brilliant interpreta-
ton of the economic disasters OF the
last decade.
MAKING A LIVING IN RADIO. by
Zch Bouck - Assuredly the radio
field. like other major competitive
industries. is no loafer'S paradise.
EAT. DRINK AND BE WARY, nv
F. J. Schliuk-One of the authors of
100, 900. 900 Guinea Pigs" now charts
the way for the puzzled consumer
through the noxous jungle OF TO-
days commercial foods.
EXPENSES AND PROFITS OF
LIMITED PRICE VARIETY STORES
IN 1885, by Stanley F. Teele.
OPERATING RESULTS OF DE-
PARTMENT STORES IN THE Pa
CIFIC COAST STATES: 1884, by
Carl n. Schmalz-Two recent bull
letins from the Harvard Graduate
School of Business Administration.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
FOOD PRICES DECLINE
Decrease of 8 Per Cent Reported
for Two Weeks Period.

WASHINGTON. Feb. Food
prices declined g per cent during
the two weeks ended Jan. ID prin-
cipally because of drastic drop in
the cost of pork, the Bureau of
Labor Statistics reported today
Pork chops declined rs per cent.
Pork loin roast dropped $50 per cent
as the full effect of the Supreme
Courts AAA ruling became ap-
parent. The current index stood at
81.7, however, which was 78 per
cent higher than in January last
year and 30.7 higher than in Janu-
airy, 1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
FURTHER DEVALUATION
OF DOLLAR ADVOCATED
Step Necessary to Bring Farm
Prices to parity Levels"

By OHtted Press
DECATUR, ILL.,, Feb. Further
devaluation of the dollar to bring
farm prices to parity levels" was
advocated today by Edward A.
O'Neal, president of the American
Farm Bureau Federation, a stanch
supporter of New Deal farm policies.
He said the federation "empha-
sizes the need of maintaining an
American market for American farm
products, through adjustment of
supply to demand; the necessity of
further devaluation of the dollar, so
farm prices will reach toward parity
levels, and the shortening of distri-
button steps between production and
consumption of mutual benefit to
producers and consumers"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01


Street. But they will not have it
long and very soon the bonus
money will be in the hands of peo-
pie who will take it into Wall
Street and into investment and
speculation, chiefly speculation of
all sorts.
90 now the Federal Reserve
- Board holds up its hands in
warning. 1t raises margin require
ments-not much, Of course, just a
few per cent-but as an evidence
that it has its eye on the market.
The increase in margins of the
board will have little or no effect
on speculation. But perhaps the
warning gives ground for hope
that the board will act craSticaSy
when the moment calls for action.
However, we can not hope too
much for that. The law as it
stands at present does not give any
government agency sufficient
power to deal with this problem.
Excessive speculation is an evil
for various reasons. One is be-
cause it tends to draw into the
markets an excessive amount OF
bank credit. Another reason is that
it tends in various ways to upset
the economic situation, without
any regard to the excessive use of
credit. This distinction is impor-
tant
When the SEC act was originally
drawn, the power to deal with any
abnormal use in speculation was
placed with the Securities and Ex-
change Commission. The commits
sion was given authority to fix
margins.
DUT Administration leaders,
ID guided by the Treasury and
the Federal Reserve Board, which
were both very amiable toward
Wall Street at that time (this was
before Mariner Eccles became gov
ernor), forced a change. The
power was taken from the COM
mission and given to the Reserve
Board.
Also, the Reserve Board was en-
powered to restrict margins when
there was too great flow of credit
into the Street. The power was
set up, not to restrain speculation,
but to protect credit.
There car be runaway market
without the credit resources of the
banks being impaired But as things
stand, unless the credit resources of
the banks are being impaired the
Reserve Board is not empowered
to act.
There is no doubt that there is
no strain on the countrys credit
now from Wall Street. But there
is a threat of runaway market.
This might be prevented if the
SEC, and not the Reserve Board.
we're empowered to regulate mar
gins, not merely to protect credit,
but to restrain speculation whether
credit is affected or not.
Copyright. 1886, by NEA Service. Incl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01

the air Lndb
things may get
going in earnest
again soon. The
bonus money is
full Of promise
for busy days in
Wall S tire e t.
Two billion dol
lars will be Civ
en- to the SOL
diers. They will
very qui C k / y
pour it out into
stores, banks,
i n S t IL ment
payments, set
Elements of old
debts, etc.
The soldiers
will not take it
~ w q I |
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
FARM SALES DOUBLE


WASHINGTON, Feb. 1. - The
number of farms bought from the y
federal land banks by farmers and
investors in 1885 was almost double
the number for 1884, and more than
double that for 1898, the Farm
Credit Administration reported to-
day.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
ASSET VALUE HIGHER

Times Special
NEW YORK, Feb. 1.-The Bullock
Fund, Inc, today reported a net
asset value of $16.86 a share for the
year ended Dec. 81, 1885, against
sll.90 a share on Dec. 81, 1884. and
Sl1.54 a share at the end of 1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-02-01
CAR, TRUCK OUTPUT OFF
Automobile Production Drops to
$3.50 Units in Week.
By United Press

By UHftfd PfCSS
DETROIT, Feb. production of
passenger cars and trucks in the
United States this week declined
slightly for the third successive
week to total of 85,790 units, COM
pared to 86,455, the revised total for
last week, according to Grams Re-
ports, Inc.
One year ago this week produc-
ton amounted to $4,000 units. IN
favorable weather conditions have
slowed up considerably the rate of
retail deliveries reported.