davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
STOCK INDEX ADVANCES
Average for 10 Leading Common
Issues Placed at 21.72.


NEW YORK, April 13-The COM
mon stock price index of investment
companies continued to rise slightly
during the last week, according to
averages compiled by Distributors
Group, Inc.
The average for 10 leading COM
mon stock management companies
Influenced by the leverage factor
stood at 2172 at the close of April 9,
compared with 2152 on April 3. The
average of the mutual funds closed
at 1899 April, against 1876 at the
close of the previous week.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
CHICAGO BANKS
RECORD CAIN IN
DEMAND FUNDS
Deposits at 1890, 900, 900
in Week Ended April s,
Reserve Reports.
Tim s Special

Ifmes Special
CHICAGO, April 13.-Funds re-
turning to Chicago banks after
passing of the date for assessment
of Illinois personal property are re-
garded as a principal factor in
boosting demand deposits of Chi
cago reporting members of the Fed
eral Reserve System $3.50 100000 in
the week ended April 8, observers
said today.
Demand deposits were 1920, 000,-
600 on that date, according to data
released Thursday by the Board of
Governors of the system.
Monetary gold stocks of the ma
ton continued their steady rise.
increasing 100000 to a new peak
at $40, 100000.
Member bank reserve balances of
the system were up $84,0O0,0O0 to
S5,906, 100000 for the week. These
balances were estimated to be 81
420,000,000 in excess of legal re-
quirements, gain of 100000 900 in
excess reserve during the week.
Loans, Investments Gain
Excess reserves of the Chicago
members are estimated to have in
creased $1o4OOO,OOO to 1896, 600, 900,
and those of New York City insti-
tutions were $10000,00O larger at
$766, 100000.
Total loans and investments of
the Chicago member banks were
increased $131 100000 for the week.
accounted for principally by gain
of $129,000,000 in holdings of United
States government direct obligations
Other or commercial loans declined
100000 to $685. 100000. Time de-
posts increased $47,0O0OOO, but
United States government and in
ter-bank deposits each declined $15,-
100000
Other or commercial loans of New
York City member banks were $19,-
100000 higher, holdings of United
States government bonds increased
$14,000,000, and reserve with Federal
Reserve Bank was up $18,O00,OOO
Total loans and investments we're
off $19,000,0o0.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13


growers in the West. For years a
heavy tariff duty has been imposed
on all sugar imported in this coun-
try. The object of that duty, Of
course, was to raise the price of
sugar in the United States. And
the object of this was to enable our
domestic sugar industry to expand.
ENCOURAGEMENT of do
~ nestle industry has been a
policy for over a century and the
tariff has been the great means
of doing this. And while Demo-
Gratis have always talked about
free trade, they have never real
ly done anything about it.
Tariff makers have sought,
therefore, to increase the output
of sugar by putting a tariff on
sugar. Row, however, We see the
government of the United States
paying huge sums to large sugar
owners to curtail their production
of sugar. One sugar producer in
Florida got checks of more than
$1,000,000 to refrain from produc-
ing sugar. Another sugar pro-
ducer in Louisiana got $181 900,
another $l70,000, another 100000,
and another SOL, 900.
How much was paid altogether
to sugar planters to curtail sugar
production, 1 do not know,
though it is matter of public
record. 1t amounted to many mil
lions.
DUT in the single year of 1884
81 the government collected
$43, 705,000 in sugar and sugar
product duties. These duties were,
of course, added to the price of
sugar and paid by the American
people.
They therefore paid that much
as tax to encourage and make
possible the expansion of domestic
production of sugar. At the same
time the Federal government was
paying countless millions to sugar
producers not to expand, but to
curtail domestic production.
Certainly the two policies are
contradictory. The curtailment of
wheat and hog production might
be defended on the theory that we
were producing too much wheat
and too many hogs for our own
use. But certainly there was no
production of sugar.
The object of all sugar deals and
world combinations in the last few
years has been to raise the price
of sugar on the world market. Why
the American government should
pay out millions to get the price
of foreign sugars up in our market
is difficult to understand or defend.
(Copyright, 1896. by United Press
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13

is q COMMONLY
which makes its
way to every
breakfast table.
T h e u nj t e d
States does not
produce nearly
enough sugar to
take care of its
n e e d S. 1t de-
ponds for the
great bulk of its
sugar on i'm
portations from
gu t ST d e t h e
States. We have
a sugar indus
try in America.
1t is made up
Of h e C a n e
growers in the
South and beet.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
UTILITY FILES WITH SEC
Pacific Gas & Electric Co. Seeks
Listing of S3O,0OO,00O Issue.
Times Special

Times Special
SAN FRANCISCO, April 13.-The
Pacific Gas & Electric Co. has filed
registration statement with the
San Francisco office of the Security
and Exchange Commission to cover
a proposed s30,000,0O0 issue of first
and refunding 81 per cent bonds. to
mature in 1861
The new issue will raise the COM
pany's operations since March of
last year to s215,000,000. The COM
pany has been the foremost among
public utility corporations in carry
ing out refunding operations for
more than a year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
CANADIAN IMPORTS RISE
Vegetable Oil Shipments Valued at
S97S,342 in February.
Times SDecioI

Montreal, April 13.-Canadian i'm
ports of vegetable oils during Feb
ruary were valued at S978,342, an
increase OF S141,342 over the cor
responding 1885 period, the Domin-
ion bureau of statistics reported to-
day. The principal suppliers were:
United Kingdom, 1851 ,999; United
States, s333,347; China, $685. 800, and
Nigeria, SIS, $40.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
Trends
Wallace's Bounty to
Sugar Producers
Is Flayed.
by JOHN T. FLYNN

NEW YORK, April 13.--The De-
partment Of Agriculture has
been paying some large checks to
large farmers to curtail their pro-
duction. These immense sums -
many over 500 ,000-have shocked
critics Of the Administration. But
one phase of this episode needs ex-
PLANTATION.
This has to do with sugar. Here
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
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
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
Money and Exchange
INDIANAPOLIS STATEMENT
4hEHS UNI , IAIEMENI
nv United pressl

WASHINGTON, April i3-Government ex-
penses and receipts for the current fiscal
year to April 10, as compared with year
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
Business Studies

After several months of almost uninterrupted rise business
activity is natural reaction The
business the last three months therefore perfectly
July 1885, general business activity nearly
the third week December then
During March automobile production ahead of
Adjusted variations
loadgs electric declined
sections of the
all stocks listed the
little while the average 40
modify prices declined slightly.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
Retail Sfnres-
Nez0 Bond Issues

lBy W. L. LYONS & Co
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13

(90-170l Good and choice.
Common and medium $50.
Xearling wethers, good choice
Medium
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
Sugar Quota Increased

The Agricultural Adjustment Administration has
quotas.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-04-13
SHEEP AND LAMBS

-ftecelptS. 3UU-
Lambs, go lbs. down; good
Evening star., 1936-04-18
1895 BUILDING AND LOAN
YEAR BOOK is PUBLISHED
Volume Details Developments in
Field, Statistics and Com
plete Directory.

Building and Loan Annals" 1885,
a 903-page volume devoted to all of
last years developments in the saw
tngs, building and loan field, con-
tanning comprehensive statistics, and
q highly detailed directory OF some
4,500 associations with their assets,
principal officers and addresses, is of
the press this week, the United States
Building and Loan League announces.
Contributing authors to the volume,
In addition to such nationally-known
savings and loan leaders as Morton
Bodflsh, executive vice president OF
the league, and I. Friedlander, imme-
diate past president, include Glenn
Frank, president of the University OF
Wisconsin; Senator Robert J. Bulkley
Of Ohio; Walter S. Schmidt, past
president of the National Association
OF Real Estate Boards; l.. A. Mclean,
president Of the Mortgage Bankers
Association of America; John H.
Fahey, chairman of the Federal Home
Loan Bank Board; George L. Bliss,
president of the Federal Home Loan
Bank Of New York, and A. R. Gardner,
president of the Chicago Home Loan
Bank. Accounting methods, adver-
tising and business development, pub
lie supervision Of home financing in
Stitutions, the Home Loan Bank sys-
tenn and general phases of the
mortgage business are treated in the
volume.
Evening star., 1936-04-18
VAPPY JACK SQUIRREL and
Mrs. Happy Jack Just couldn' t

r VAPPY JACK SQUIRREL and
- Mrs. Happy Jack just couldn't
stay away from that farm
Il where their three children
were being brought up by a foster
mother. 1t wouldn't have been quite
so upsetting had that foster mother
been another squirrel, but she was a
cat. Mrs Happy Jack just couldn't
get over that. So every day Happy
and Mrs. Happy we're over at that farm
watching for a glimpse Of the young
squirrels.
Just as soon as they get outdoors
I'm going to take them away" said
Mrs. Happy Jack. Happy Jack ven-
tured just once to suggest that per-
haps the young squirrels would not
go with her. He didn't do it again.
Mrs. Happy Jack few into a rage. "Of
course they'll go with me-" said she.
Don't be silly. OF course they'll go
with me. The idea of even thinking
they might not. You just wait until
I get chance to call them"
There was good deal of wondering
on the part of the people who owned
Mother Cat as to what her foster
children would do when they were big
enough to be somewhat independent:
and go outside. 1t was first proposed
Evening star., 1936-04-18

| the young squirrels, doing his best
to induce them to come with him.
The old cat discovered this and soon
had Happy Jack running for his life.
Then Mother Cat took charge Of her
family and led them all of toward
the barn, the two kittens and the
three young squirrels.
Poor Mrs: Happy Jack. She wasn't
happy then. There she had to sit
and watch her children being led
away and there wasn't a thing she
could do about it. One young squirrel
was perched on his foster mothers
back and seemed to be enjoying the
ride. One of the others, she presently
picked up and carried IN her mouth.
The third one, who was the biggest
and strongest, friSked along beside
her.
When they had disappeared in the
barn Happy Jack looked at Mrs.
Happy. He opened his mouth to say.
well, what did I tell you?" but closed
it without saying it. You see, Mrs.
Happy looked too. detected. "I wouldn't
have believed it.! To think that those
Evening star., 1936-04-18

world and they wanted to see more
Of it.
Row it happened that Happy Jack
and Mrs. Happy Jack were paying
their usual morning visit to the farm
and of course they saw the young
squirrels come out. Mrs. Happy raced
over to the tree nearest to where the
cat and little squirrels were. Then
she began to talk to those squirrels,
and how her tongue did fly! They
just didn't pay any attention to her.
She became quite distracted. She ran
down the tree and half way over to
the cat and the young squirrels.
Then she began to coax. Her coaxing
ended abruptly. Mother Cat, who
while Mrs. Happy Jack was in the
tree had paid no attention to her,
now suddenly dashed at Mrs. Happy
Jack and she looked like a fury. Yes,
sir, she did so. 1t was no wonder that
Mrs. Happy turned tail and raced for
the nearest tree. Mother Cat even
followed part way up the trunk.
Meanwhile Happy Jack thought he
saw his chance and he approached
Evening star., 1936-04-18

children would turn their backs on
their own parentS!"
As those young squirrels grew big
ger, of course, they came out Of the
barn. They were very tame and they
did not hesitate to go into the house.
but they spent most of their time out
in the trees, as squirrels do. How
ever, despite the fact that Happy Jack
and Mrs. Happy tried to get them to
go away with them to the Green
Forest, they would seldom go far from
their own home. They didn't quarrel
with their father and mother, but
they had little to do with them. AS
for Mother Cat, those squirrels had
Evening star., 1936-04-18
NEW TYPE PAINT
RES|STS ELEMENTS
Oils Treated to "Control
Penetration" Protecting
Wood and Surface.

Making public for the first time
the results of recent experiments in
the field of paint chemistry, DR.. j.
S. Long, prominent research technl-
clan and formerly professor of chem
istry at Lehigh University, today an
nounced the development of a new
method of processing oils which go
into the manufacture of ordinary
house paints.
The new process, developed by DIR.
Long and his associates in the labor
atories of a paint manufacturer in
Louisville, KY, is said to give paint
an unusual resistance to conditions
which serve to bring about checking,
cracking, peeling and fading Of ordi-
nary paint products.
Controlled Penetration"
The new paint, development Of
which was not made known until
the recent completion of compre-
hensive tests, is characterized by
what is called controlled penetration"
of its oil content. For many years."
DR.. Long declared. I'VE have sought
q method of controlling the extent Of
oil penetration into the surface upon
which paint is applied. In order for
paint to have good weathering
characteristics, a certain amount OF
the oil in the paint must penetrate
into the grain of the wood to give it
good adhesive qualities, while enough
oil should remain in the surface paint
to protect from conditions of extreme
dryness, moisture, heat or cold.
1.-THE trouble has always been that
If we used an oil with good penetrat-
ing qualities the surface of the paint
would have inferior resistance to
weathering, while if a non-penetrat-
ing oil we're used, the wood surface
would not be properly protected and
the under coat would not have good
adhesive qualities" DR.. Long pointed
out
Combines Two Types.
BY means Of a newly developed
process it is now possible to chem
ically combine the two types of oil,
the penetrating and the non-penetrat-
ing, in such a manner that this
specially processed combination retains
the penetrating characteristics Of its
component parts, according to Dr.
Long. THAT is what makes possible
controlled penetration The two ell
emental oil constituents are known
as the 'penetrative ingredient and
the 'sealer ingredient and in chem
ically combining the two we can
control the penetrative characteristic
of the final product in direct proper
tion to the ratio of the two ingredients
which compose it."
Another advantage claimed for the
new paint is that two coats of it
suffice where formerly three coats were
needed Due to the unusual sealing
and preservative qualities of the new
type of oil used in its manufacture,
smaller quantities Of it are required,
with corresponding savings to home
owners.
Evening star., 1936-04-18

no fear Of her whatever, and she,
although she would chase other
squirrels, always showed her affection
for her foster children. After a while
Mrs. Happy Jack ceased to think
about them or notice them in any
way. You see, she had another family.
(Copyright. 1850
Evening star., 1936-04-18
GLASS BUILDING HAILED

Architects will be interested in the
remark Of George A. Chapman, A. I.
A, consulting architect of Chicago,
after visiting the worlds first all-glaSs,
windowless building in Toledo.
There is no question in my mind
but that the building industry has
been provided with new element in
design which will be the means Of
creating a new architecture. After
seeing this building on a day when
the thermometer registered well below
zero, am convinced of the entire
practibility Of glass building blocks"
Evening star., 1936-04-18
Dry Cells Supplant Batteries,

Three ordinary dry cells supplant
the usual "a" batteries in a new, bat
tery-operated, self-contained, portable
radio. It also embodies a new-type
speaker which reduces battery drain.
Evening star., 1936-04-18

to make a cage for them. Then 1t
was decided that it would be far
kinder to let them have their freedom
and 60 if they wanted to- So one
morning when Mother Cat left the
shed the three squirrels followed her.
She tried to send them back, but they
refused to go. They were getting
their first real glimpse of the outside
Evening star., 1936-04-18
Bedtime Stories
Young Squirrels Turn Backs

BY THORNTON w. BURGESS.
The young grow UP and go their way.
And who Is there shall say them nay.
old Mother Nature.
Evening star., 1936-01-07

plain. II the expenditure Is for q
national public purpose that purpose
will not be thwarted because payment
Is on condition which will advance
that purpose. The action which Con-
gress induces by payments Of money
to promote the general welfare, but
which 1t does not command or coerce,
is but an incident to q specifically
granted power. but a permissible
means to legitimate end. If appropri-
alton in aid of a program of curtail-
ment of agricultural production Is
constitutional, and 1t is not denied
that it is, payment to farmers on con-
dition that they reduce their crop
acreage Is constitutional. 1t is not any
the less so because the farmer at his
own option promises to fulfill the con-
dition.
That the governmental power of the
purse Is great one is not now for
the first time announced. Every stu
dent of the history of government and
economics Is aware OF its magnitude
and of its existence in every civilized
government. Both were well under
stood by the trainers Of the Constitu-
ton when they sanctioned the grant
of the spending power to the FEDERAL
Government, and both were recognized
by Hamilton and Story. whose views
Of the spending power as standing en-
a parity with the other powers specif-
ically granted have hitherto been gen.
orally accepted.
The suggestion that it must now be
curtailed by judicial fat because 1t
may be abused by unwise use hardly
rises to the dignity of argument. So
may judicial power be abused. The
power to tax is the power to destroy. "
but we do not, for that reason. doubt
its existence, or hold that its efficacy
is TO be restricted by its incidental or
collateral effects upon the States. See
Veazie Bank VS.. Fenno, 8 Wall. 553
McCray vs. United States, 1875 U. S. q;
compare Magnano Co. VS.. Hamilton.
292 U. S. 40 The power to tax and
spehd Is not without constitutional
restraints. One restriction is that the
Evening star., 1936-01-07

purpose must be truly national. An
other is that 1t may not be used to
coerce action left to State control. An
other is the conscience and patriotism
of Congress and the Executive. ut
must be remembered that legislators
are the ultimate guardians of the lib
critics and welfare Of the people in
quite as great a degree as the courts"
Justice Holmes in Missouri, Kansas q
Texas r. r. Co. VS.. May, 1914 U. s.
267, 270.
A tortured construction Of the Con-
stitution Is not to be justified by re-
course to extreme examples of reck-
less congressional spending which
might occur If courts could not prevent
expenditures which, even if they
could be thought to effect any national
purpose, would be possible only by ac-
ton of a Legislature lost to all sense
Of public responsibility. Such SuDpo-
sitions must leave unmoved any but
the mind accustomed to believe that
it is the business of courts to sit in
Judgment on the wisdom of legislative
action. Courts are not the only
agency Of government that must be
assumed to have capacity to govern.
Congress and the courts both unhap-
PLY may falter or be mistaken in the
performance of their constitutional
duty. But Interpretation Of our great
charter of government which proceeds
on any assumption that the response
bility for the preservation Of our in
stitutions is the exclusive concern of
any one of the three branches of gov
eminent, or that it alone can save
them from destruction is far more
likely, in the long run, Ito obliterate
the constituent members" of IAN in
destructible union of indestructible
States than the frank recognition
that language, even of a Constitution,
may mean what it says: That the
power TO tax and spend includes the
power to relieve a Nationwide eco
nomic maladjustment by conditional
gifts Of money.
Mr.. Justice Brandeis and Mr.. JUS
tice Cardozo join in this opinion.
Evening star., 1936-01-07

counting and announces the result.
If there is still doubt, or if de-
mand is made by one-fifth Of a
quorum, tellers are ordered. The
Speaker appoints one member on
each side of the question to make
the count. The tellers take their
places at the head of the center
aisle and count the members ia
voring the proposition as they walk
through. Then those opposed do
likewise.
A roll call may be demanded,
however, by any one on any ques-
ton in the House, and if supported
by one-fifth of those present, it is
ordered. This privilege is guaran-
teed by the constitution.
The clerk calls the names Of the
entire membership, and as his or
her name is called the member
answers AYE" or No" Tie
names of those not voting the first
time are called again, thus insur-
ing that all members in corridors,
cloak rooms, committee rooms, or
Offices who have been notified of a
roll call by signal bells may have
the opportunity to vote,
Evening star., 1936-01-07
NEW TAX FEARS
PLAGUE CONGRESS
Halt in Processing Levy
May Raise Deficit to
Four Billions.
By the Associated Press.

By the Associated Press.
A possibility that new taxes may
be recommended plagued members OF
Congress today as they contemplated
O PROSTATE A. A. A.
Few legislators like to vote taxes,
especially in a campaign year. But
a warning was before Congress, set
forth only yesterday by President
Roosevelt's budget message;
IF the attack upon this
act "a. A. A. is sustained, we will
have to face the problem of financing
existing contracts for benefit pay
nsftS out of some form of new
taxes v ."
Appropriation Planned.
Already administration plans shaped
toward an appropriation for meeting
benefit payments calculated on A. A.
A. contract performance up to yes
terday. The sum required was esti-
mated at more than 1888 900, 900.
But the Treasury faces huge loss III
processing taxes which helped make
up the Governments income esti-
mates in the Presidents budget.
Only $66,O00,O00 has been collected
out of s529,O42,O00 estimated for
processing tax income in the 1886
fiscal year ending next June 80.
Would Exceed Deficit.
Adding this revenue decline to the
forecast $3.50, 100000 appropriation
would add-without new taxes-more
than S700,000,000 to a prospective
deficit of s3,234 900 900 for the year.
The deficit thus would increase to-
ward the $4,000, 100000 mark.
1t then would exceed last year
deficit of s3,575 900, 900.
If Congress appropriateS the $685.
100000 estimated to be needed 10
fulfll contract benefit payments up
to yesterday, farmers will have re-
ceived substantially as much cash as
Mr.. Roosevelt's budget figured for the
1886 fiscal year The A A. A. was esti-
mated to cost 1921 900, 900. To date.
$4,000, 900 has been paid out. A
S2S3, 900 900 appropriation would lift
that sum to nearly 100000.