davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
On Commission ROU

Quotations below subject to change are
average wholesale prices being offered to
buyers by local commission dealers.l
Strawberries: Louisiana. "a
tiOos box). So. Limes-Mexican, car
Bananas, seven hands, pound. Sc: Apples
BesS stys SIS. Lemons9sunSist sos,
s6.2S. Grapefruit-Texas seedless t54s-
sosl, So Pineapples-t24s) crate, s5.25.
VEGETABLES Artichoke. California
is sGz m Beans hee sound ssEing
:l,4o, carro,s-california tss.dos. cratel,
So; Texas (3la doz. cratel. $3.50. Cauli-
flower, California ti2s crate), 81. Celery
Florida washed and trimmed ldoz.l, Asa
ssei Florida lts. IS, los cratsl. $3.50.
ern bushell. Sc; Egg pientgFlorida Jdesl.
si.75. Virginia bushell s5c. let
tuce-Iceberg, Arizona (best IS, ssh. ss.65;
home grown leaf tls-ib, basket. sl.5o.
Mangoes lcratel. $3.50; peck basket. 90c;
doz, soc. Mint - Hothouse tdozl 75c
M Mus SOC Mgstsrd.Texss
tS0-lb. bagl,. Use; new Texas Bermuda yell
low. 5o-lb.. bag. $3.50. Parsley-Southern
tlong punches. doz;l. S5c. Parsnips-Home
Peas--Florida, hamper. ss25. Potatoes
Michigan Round Whites. i00-lb bag, $3.50:
Maine Green Mountains, i00-lb. bag, s2.40;
Triumph. i6o-lb. bag. $50: idaho Russet IS
l00-lb. bag, IS: Idaho Bakers. 70s box
g 90; New Florida Triumphs, So-lb. bag.
500. Sweet Potatoes-Tennessee Nancy
grown buttons doz., 65c. white, Soc
Sasss-NortSsTS so-lb, bag. SIS ss sage
Turnips-New. bulk Texas. bu'. Sis.
Tomatoes-Repacked. l0-lb. box. SITS.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
MAP PLANS TO
DISBURSE HUGE
BONUS OUTLAY
Treasury to Designate 800
PoStoffiCes to Handle
Veterans Funds.
By United Press

By United Press
WASHINGTON, April 14.-The
Treasury Department today pre-
pared the huge money machine
which will turn out cash for the
veterans bonus at top speed begin
ming June Is.
Treasury officials, acting on the
assumption that a large majority of
veterans will desire to convert their
service bonds into cash Immediately,
arranged to designate almost 300
first and second class postoffices
throughout the country to act as
disbursing offices.
Details of the plan are expected
to be announced shortly by Henry
Morgenthau Jr, Secretary of the
Treasury.
Instructions will be given veterans
as to the simplest way to convert
their service bonds into cash.
The exact number of postoffices
which will be designated as disburs-
ing offices has not been decided.
Neither is there available list of
the cities in which they will be To-
Gated. In general, however, it was
believed that practically all first
class postoff1ces and a. number of
second class postoff1ces would be au-
thorized to pay out cash.
Bonds Can Be Converted
Some Treasury estimates were
that at least $1,5OO,o 100000 in bonus
cash will be paid out of Treasury
funds between June Is and Sept. /.
Arrangements for getting the
service bonds and petty cash into
veterans hands have been COM
pleted. Bonds in equal multiples OF
$50 and checks for the remainder
due the individual veteran over the
total sum Invisible by $50 will be
sent the veteran by registered mall
beginning June Is.
Inc VeGcIdu CcIl COliVCAo AiAo oSA
ice bonds into cash by taking them
to his postoffice and indorsing them
If that postoff1ce has not been desig-
mated as disbursing office the post
master will give the veteran a re-
ceipt for his bonds and the bonds
will be forwarded to the nearest dis
bursting postiffice. A check for the
amount of the bonds will be re-
turned to the veteran by registered
mail.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
UTILITY STOCKS
HIGHER DESPITE
EARLY OPINION
Certain Issues QuadrupIe in
Value, Congressman
Points Out.
BY RUTH F'INNEY
Times Special Writer

WASHINGTON, April 14.-Utility
holding company stocks are consid-
erably higher than a year ago in
spite of predictions by utility execu-
tives that passage of the Wheeler
Rayburn bill would ruin them, Rep.
Henry G.. Luckey Cd, Neb), said
today.
A letter from a business man
identified with the Liberty League
caused him to investigate the Situa-
ton. The business man denounced
him for helping to destroy" the
investments of millions of stock
holders.
Rep. Luckey looked up the fig
ures, decided that the stockholders
ought to be thanking him instead
of blaming him, and put the re-
suits of his investigation in the
Congressional Record for similarly
haraSsed colleagues to see.
Compared with May, 1885, when
the holding company bill came
from committee and utility execu-
tives got their nationwide cam
paign against it under way, stocks
of % holding companies are con-
siderably higher today.
Stock Gains Listed
"The widows and orphans and
the millions of investors have not
experienced loss but instead they
have received a very material gain,"
Mr.. Luckey said:
American Gas and Electric has
increased SO per cent in value.
American Superpower has trebled in
value. American Power and Light
has quadrupled in value. Cities
Service stock has more than trebled
in values as have the stocks in Co.
lumbia Gas and Electric, Common
wealth and Southern, Electric Bond
and Share and others.
Stock values have multiplied five
times in Electric Power and Light,
six times in North American Light
and Power, and nearly five times
in Stone 81 Webster. The A and B
shares of United Light and Power
have nearly eight times greater
value today than in May, 1885. The
stocks in those companies gained in
value during the months Congress
spent in consideration of the bill
and they have continued to increase
in value since the legislation be-
came law. The widows mite has
not been destroyed-it has been
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
JOINT STOCK BANK
CALLS BOND ISSUE
Fletcher House to Retire
S718,3O0 Block.

Another large block of Az per
cent bonds of Fletcher Joint Stock
Land Bank has been called for re-
tirement by directors of the institu-
ton, William B. Schiltges, president,
announced today.
The newest step in the program of
refunding operations for the joint
stock bank will retire $718,30O Of
bonds optional May l, 1893, and due
May /, 1858. Holders of these bonds
may convert them into cash or
transfer their holdings into new is
sues of the banks securities, bearing
lower interest yields in keeping with
present trends in the investment
fields, Mr.. Schiltges said. The large
total of bonds just called adds to a
similar amount called in March, the
two calls representing approximately
81 100000 of the banks Az per cent
issues which have been added to the
refunding operations during the last
80 days.
With this newest call only $780,
800 of the joint stock banks Az per
cent bonds will be outstanding, sub
ject to call, and a total of Sc, 498, 300
will have been involved in retirement
or conversion during the last Is
months.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
SWINE MARKET
ACTIVE, STEADY
Cattle Mostly Unchanged;
VeaIs Dip so Cents;
Lambs HIGHER.
tRy w. I. LYONS & Con

Although receipts again were esti-
mated at 5000, the pork market con-
tinued unchanged in active trading
today at the indianapolis Union
Stockyards. Approximately 129
head of hogs were carried over
from the preceding session.
Improved outside interest aided
largely in offsetting the heavy sup
ply. The bulk of 100 to 225 pounds
sold at $1005 to $l105. The top
price held at $1110. Medium
weights, from 225 to $50 pounds,
sold at SLOTS to $10.85. Extreme
heavies, scaling 300 pounds and up
ward, brought $40 to 5000. Pack
ing SOW held at 1925 to $685..
Trading was somewhat irregular
in the cattle market. Steers were
mostly steady and cows strong to
slightly higher. Low grade steers
showed little change, valued to sell
upward from So. Several loads of
best grades ranged from $9.75 to
$40 and above.
Most classes, however, we're ELI
gible around So to 1925. Early talk
ing on most heifers ranged from
$3.50 to 1925, while beef COWS sold
at $5.75 to $3.50. Receipts were
5000. Vealers were steady to so
cents lower The bulk sold at SO
to $3.50. Receipts were 800.
With receipts light, the lamb
market was active and mostly 25
cents higher on better shorn
grades. A single load OF choice,
averaging IS pounds, sold at $9.75.
Part deck native wooded skins
brought $11. Native ewes we're in
demand at $3.50 down. Receipts
tOtaled 600.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14

has not determined whether stock
dividends are to be taxable under
the proposed new law. When this
question was raised in the public
hearings it was pointed out that
the Supreme Court has held that
stock dividends do not constitute
taxable income.
Urges Retention of Flat Tax
Business representatives who ap-
peared before the committee pointed
to this possible form of evasion
among others that undoubtedly
would be used to avoid taxation.
Mr.. Pettengill recommended that
the committee, instead of repeating
present fiat corporation taxes, re-
tain them and build its graduated
tax on profits on them. This sug-
geStlon also has come from other
quarters.
Senatorial students of the Presi-
dents plan also questioned today
whether it would raise the estimated
revenue which is necessary, along
with the windfall tax, to close the
gap caused by the Soudier bonus and
invalidation of the processing taxes.
One authority argued that as
revenue producer the new plan
would not be effective, since it re-
moves the tax from a certain and
definite source, the corporation, and
transfers it to an indefinite and
questionable source, the Stockholder
who receives dividends.
Effects Are Studied
1t would be impossible, he said. to
get the revenue expected from the
stakeholder.
The effect of the plan, as he saw
it, would be to influence corpora
tionS to raise wages, on the one
hand, in order to improve labor re-
lations with their employees, and on
the other to cut prices in order to
gain new business-both laudable
detectives, but not contributory to
increased revenue.
1t was indicated today that the
question of how much revenue can
be raised would be scrutinized care
fully by the Senate Finance Com
mittee when it begins to consider
the proposed tax plan in few days.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14

issued. The sother law deals with
the regulation of stock exchanges.
The second law-which regulates
stock exchanges-was not involved
in this decision.
One of the great abuses of the
period before the 1929 crash was
found in the issuance of securi-
ties. Investors had been robbed
of countless billions of dollars by
security isSuers. These losses had
been suffered not at the hands of
blue-sky statesmen and profession
al security sharpers, but at the
hands of many OF our leading
banking houses which pretended
to the greatest responsibility.
TITO meet this situation Congress
II passed in 1888 a law which is
known as the "truth-in-securities"
law. Under this law Jurisdiction
was given to the Federal Trade
Commission. Later when the Sc
curities and Exchange Commission
was established jurisdiction was
given to it. The object of the law
was not to determine what are good
stocks and what are bad ones.
1t was not to enable the COM
mission to advise investors and
spectators what they should buy or
coll TIC i'm uroc ciy,1YH1o tn a,,o oIo
any person who wanted to know all
about the stock offered for sale to
find out.
Under the rules of the commits
sion any corporation which wishes
to issue stocks must file with the
commission an application in which
the corporation must set out all of
the essential facts relating to the
corporation, the securities to be is
sued and the persons involved. The
investor may make his own de-
cisions about the wisdom of the in
vestment after that.
The commission is authorized to
refuse to permit registration of the
dllO lOo ouOoCAuCllU SdiC IL oil
of the requirements of the law are
not carried out. j. Edward Jones
filed an application to issue certain
securities.
The commission ruled that the
requirements of the law and the
commission had not been complied
with. They refused him permission
to issue the securities. That action
Of the commission the Supreme
Court has not disturbed. There
fore the great objective of the law
has not been affected. The, COM
mission, however, sought to make
an investigation of Mr.. Jones ad-
venture.
But before 1t could do so, Mr..
Jones withdrew his application. He
thereafter commended that, having
withdrawn his application, the COM
mission had no more authority over
him. This contention and nothing
else has been maintained by the
court.
Copyright, 1885. NEA Service, Inc)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
STREET CAR OFFICIALS
PRESENT TAX VIEWS
Chase, Tretton Confer With Rep.
Hill of House Committee.

Times Special
WASHINGTON, April 14.-Charles
Chase and James p. Tretton, officials
of the Indianapolis Railways, Inc,
today we're here to present their
views on the new tax bill to Rep
S. B. Hill Cd, Wash0, chairman of
the subcommittee handling the
measure.
They were taken to the Ways and
Means Committee and introduced to
Mr., Hill by Rep. Louis Ludlow.
They explained the company had
made large expenditures for new
trackless trolleys, street cars and
buses in Indianapolis and had bor-
fowed money from PWA. They seek
TO have the bill drawn so that such
OUTLAWS may be amortized without
paying the surplus tax proposed by
the new bill.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
NORTH SIDE REALTORS
LIST SALES OF $4,000
Transactions Since First of Year
Total S1,000,000.

Members of the North Side Real
tors Club at their weekly luncheon
yesterday reported total transac-
lions since the first of the year we'll
over the million-dollar mark.
j. w. Robbins, club secretary, said
that members now boast a so per
cent gain over the same time last
year.
Members who reported sales
amounting to ST., 900 are: William
r. Rice, 1925 and 5244 Cornelius saw,
$4,000; Charles Benkley and
Thomas F. Carson, 1881 Washing
ton-blvd, $4,000: Clarence S. Ci-
pher, 57th and Delaware-sts, $1O,-
900; Ford Woods, 18th and Ban
croft-sts, $500; Fay Cash, 58th-st
lot, $1,000, and J. w. Robbins, Brook
Side-av, $4,000.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
Produce Markets

The prices quoted are paid for stock
gathered in the country. while delivered
Heavy breed hens. lsc; Leghorn breed
hens, i5c: old cocks. i2c Ducks white. S
lbs. and over. lie: geese, full feathered.
l5c; No. I strictly fresh eggs, loss OF. Ice
delivered in Indianapolis. lie. Each full
case must weigh IS lbs. gross a deduction
OF 10 cents a pound under SIS lbs will be
made No. ! butter. 36iz R3Thc: No. z, 33ia
Qs4szc. 1utterfat. SIC.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
Trends
SEC Ruling By High
Court Is Limited
in Scope.
by JOHN T. FLYNN.

NEW YORK, April IA very
\ large mountain has been
made of the mole-hill involved in
the decision of the Securities and
Exchange Commission case before
the Supreme Court. Nothing in
the decision takes away from the
commission any Of it's essential
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
Money and Exchange
HIGHER RENT PREDICTED
TREASURY STATEMENT
(Bv United Pressl

Times Special
NEW YORK, April 1.-THE 1929
rent level will be reached within a
year and a half if the present rate
OF increase paid by rent earners is
mainland, c. j. Ryan, vice president
of Investors Syndicate, Minneapolis,
predicted today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
AUTO MANUFACTURERS
QUIT u. S. CHAMBER
National Association Withdraws
From Trade Group.

By United Press
WASHINGTON, April 1.-THE
Automobile Manufacturers ASso-
citation has withdrawn from the
United States Chamber of Com
merce, it was revealed today.
It's annual membership was al
lowed to lapse when it expired two
months ago. Both the Chamber
of Commerce and the Automobile
Manufacturers Association declined
to give a reason for the withdrawal.
It was recalled that controversy
developed at the last annual meet
ing of the Chamber of Commerce
on the question of Federal regula-
ton of buses and trucks. The auto
manufacturers group opposed a
resolution, which was passed, in
dorsing Federal regulation of mo-
tor transportation.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
HOUSE GROUP
STUDIES new
TAX MEASURE
Revenue Possibilities of
New Deal Proposal
\ Worries Experts.
BY THOMAS L. STOKES
Times Special Writer

WASHINGTON, April 1.-THE
revenue-raiSing potentialities of
President Roosevelt's proposed tax
on undistributed corporate earnings
were questioned anew today as the
Ways and Means Committee pre-
pared a final draft for submission
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
APPROVE STOCK LISTING
James Talcott, Incr to Place 5000
Shares on Curb Exchange.
Times Special

Times Special
NEW YORK, April 14-The list
ing application of James Talcott,
Inc, 82-year-old factoring firm,
covering 10000 shares of the COM
pany's 515 per cent participating
preference stock, has been approved
by governors of the New York Curb
Exchange, it was learned today.
Trading in the stock on the ex-
change is to begin as soon as reg
istration under the Securities Ex-
change Act of 1884 has become eff
fective. Through its listing on the
Curb Exchange, stock Of the COM
pany will be made available for
public trading for the first time.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14

powers.
1t m u It be
r e m e m bered
that the COM
mission admin
listers two sep
arate laws. One
Is the Secur-
tiles Act of
1888 and one is
the Securities
Exchange A C t
OF 1884. One
law yer n s
the issuance of
new securities.
1t u n dertakes
to regulate the
conditions I'M
der which new
S t o C k S and
bonds. etc. are
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
DIVIDEND is DECLARED
Times Special

NEW YORK, April 14.-Directors
OF the Fidelity Fund, Inc, have de-
clared regular quarterly dividend
of 25 cents a share, payable May 1
to stockholders of record April 20, it
was learned today.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14

to the House.
Rep. Samuel B.
Pettengill Cd,
Ind who first
called attention to
a probable deficit
in the first year
of collie C tion
pointed out today
that a further loss
of revenue might
be entailed If div
idends we're paid
in stock instead
of cash.
The comn1iftae
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
LOCAL CASH MARKET
(By Thomas D. sheerin & co.,

City grain elevators are paying 80 cents
for mo. 2 soft wheat. Otner grades on
their merits. Cash corn new No. yellow
48 cents and oats 10 cents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
Local Securities

(By Indianapolis Bond & Share Corp)
The following quotations do not rep
resent actual bids or offerings, but merely
indicate the approximate market level on
buying and selling inquiries or recent
TRANSACTIONS
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
Safety Record in Transportation

Approximately $40 million pounds Of dynamite and
black polcder handled by United States and Cana
dian railroads in 1885 cithout death or injury to any
person and Nth no property loss.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14
(Reprinted From Late Times Yesterday
DAILY BOND INDEX
U. S. GOVERNMENT BONDS
(By Abbott. Proctor g. Paine)
Treasurys
Home owners Loan Corp.

HUnHe UWHtTS LUau COTp,
3As 1949 ...................10 l 81 101 10
IS 1852 ....................1 1925 1929
Federal Farm Mortgage Corp.
SS !94S .'.........' ....... lUS 1U5
IS 1942-47 ...................1 03.18 103.17
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-14

Lambs. 30 lbs. down: good
and rhnfra
Evening star., 1936-12-03
By the Associated Press.

PLEASANTVILLE, N. j., December
3-Eighty-eight women, sleepy-eyed
but determined not to lift their siege
of the City Hall until their w. p. A.
sewing project is resumed, painted
signs today for delegation they said
would picket two horse joints and
three card houses"
The bulk of the embattled band will
"hold the fort" while the pickets thus
"retaliate" against city councilmen,
whom they blamed for the shutdown.
the women's spokesmen said, adding
they hoped the picketing would en-
barrass the councilmen.
Their spirits buoyed by a weeks
food supply donated by local mer-
chants, the women fouted the Coun-
cirs demand they vacate the Council
chamber because their presence
merely disrupts things and creates
an insanitary condition"
They're downright unreasonable,
said Mayor Thomas Crawford from
his usual post behind the prescription
counter of drug store.
The Council table serves as q bed
by night and Chow" table by day for
the women. Most of them-their ages
range from 81 to 62-take fitful maps
on the hard benches, the table and
the floor.
The Council tried to meet in the
chamber last night-the second night
of the siege-but retreated into execu-
tive session elsewhere ito escape the
confusion"
Council President George Haines
told the women their protest docs no
good" as the city does not have money
Evening star., 1936-12-03
A. TT. CUTS RATES
0NL0NG DISTANCE
Telephone Bills Reduction
After Mid. January to
Be $4,000, 900.
By the Associated Press.

By the Associated Press.
The bill of telephone users will be
cut $12,O0O,000 yearly by the middle
Of January.
The reduction, applicable to long
distance rates, was announced late
Yesterday by the Communications
Commission and was the second made
since the Government began investiga-
ton of the American Telephone 81
Telegraph Co.
Commissioner Paul Walker said it
would be effective as soon as possible,
but, in any event. by the middle Of
next month.
Both Walker and Walter S. Clifford,
A. T. & T. president. commended the
method in which the rate reduction
was negotiated. without long-drawi-
out legal battles. In New York. Clifford
noted it was the ninth reduction in the
last 10 years.
Result of Conferences.
The new cut. Walker said, was the
result of informal conferences between
the commission and the telephone
company, and followed a $4,000, 900
reduction by the company last Sep
tember, just prior to the first hearing
In the commissions study Of the COM
pany's capital structure.
At a press conference Walker said
the commissions study unquestionably
had played an important part in the
company's decisions. He added that
regardless of the company's voluntary
action in twice reducing long-distance
rates the investigation would be re-
sumed on December 8.
Walker disclosed, moreover, that the
commission was running short of funds
and would ask Congress for a new ap-
preparation of $350,000 to assure COM
pletion OF the inquiry. Funds now on
hand, he said, would finance 1t only
through January.
Clifford said the reduction was more
than the company felt should be
made. Walker hinted new cuts might
be in order
Expert Stats Planned.
He said he planned. as soon as pos
sible. to set up expert rate and re-
search staffs to examine the COM
panys operations under the new
schedules and recommend from time
to time further and additional rate
adjustments"
Saying the cut was substantially in
excess of the reduction the company
thought should be made at this time, -
Clifford added:
I'VE have decided to accept this re-
duction, however, in view of continued
improvement in business conditions
and in view particularly of the ad-
vantages which this method of deal
ing with rate problems promises for
the public as well as tor the commits
sion and the company"
Last Septembers reduction was on
calls greater than 234 miles. The new
reduction will be applicable to shorter
distances and designed to cover the
largest possible number of users.