davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
SCOUT RUMORS
OF ADDITIONAL
CURRENCY CUT
Further DevaIuation Held
Unlikely Save for
War in Europe.
BY A. L. JACKSON
Vice President, Economics Statistics


NEW YORK, Jan. 23.-The re-
cent weakness of the dollar is at
tributable to several developments.
The unconstitutionality of the AAA
led many to believe farm prices
would decline drastically.
Since the devaluation policy of
the Administrator was undertaken
primarily to raise commodity prices,
it was felt any drop in prices would
lead to a further devaluation of the
dollar.
Those entertaining these ideas
were given substantiation when Mr.
Roosevelt extended his powers fur
ther to reduce the gold content of
the dollar last week. The bonds is
an additional factor generating
fears.
Plan Is Unsuccessful
1t is true that higher level of
commodity prices was the main OBJ
jective of the gold devaluation pol
icy, but the results we're consid-
erably below the anticipated expec-
tations. The failure of the plan
is even more pronounced when we
realize that the increases in farm
prices account for the greater part
of the rise in the general price level
And farm prices were influenced
more by the drought and produc-
ton restriction than by devalua-
ton.
In view of the facts, it is highly
illogical to expect Mr. Roosevelt to
follow the illusion of the Warren
Gold Plan any further.
The major objection to further
devaluation at this time is the po-
sition of the United States Treasury.
The Treasury must make heavy ap-
peals to the capital markets over
the next five years. Amy action
which would upset confidence would
be suicide. There is plenty of EVIL
dence that the Administration is
very concerned over the govern
ments financial condition. The
baby bond" method of paying the
bonus is an indication of the Ad-
ministrations pressure on the Sen
ate.
Conservatism Essential
Financial conservation is neces-
sary and not voluntary. Mr.. Nor
genthaus recent pessimistic an
nouncement on the budget deficit is
another indication of the Treas
ury's concern. His estimate ex-
ceeded by $1,5O00O0,00O to $4,000
100000 any reasonable figure for
next years deficit
On the surface, Mr.. Morgenthau's
budget analysis appears pessimistic,
but, when we consider the conditions
motivating his remarks, the real in
depreciation is bullish. This is fur
ther evidence that the Administra-
ton will not devalue the dollar
There appears to be only one pos
sibility likely to lead to further de-
valuation. This is the international
situation. Should a general up
heaval occur in Europe followed by
another period of wholesale currency
depreciations, it is probable that the
dollar may become overvalued and
exert def1ationary effect on the
domestic price level. Steps would
probably be taken to eliminate such
condition, should it occur.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
Produce Markets

gathered in the country. while delivered
In Indianapolis the price Is a cent high.
er. Heavy breed hens. Ice: leghorn breed
i4c: old COCKS. &C. Ducks. white. S lbs
and over, lie: under lbs &c. geese ful
teathersd and fat . TO IA pounds. Toe
over u lbs. &c. All guineas ia lbs. and
up. 2oc;. Young tens. IL TO is lbs. IlC
under u lbs. and over 10 lbs, l6c: o,d
hens. lie: old toms. lac. No. / strictly
Zach full case must weigh SIS lbs. gross
- lbs. Will be made, No. i butter $50 37c,
NO. 2, 53Q34c. Butterfst. Sac Quoted by
z os6uc,ion OF 10 cents pound under
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
RAIL TRAFFIC SHOWS
SUBSTANTIAL INCREASE
Illinois Central Pickup, Delivery
Service Proves Successful.

Introduction of the new free pick
up and delivery service by the Il
linois Central System early this
week has resulted in a substantial
increase in the roads volume of
less than carload lots, C. G. Cam
eran, vice president in charge of
traffic, announced today.
The new service was placed into
effect at approximately 600 freight
stations of the company. Although
1t was inaugurated only last Mon
day, traffic volume showed an in
crease of approximately "a per cent
for that day, compared with year
ago, Mr.. Cameron stated.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
THE TOWNSEND PLAN
Would Old-Age Utopia Work?

The Times today presents one of the
most searching analyses of the Town
send old-age pension proposal yet I'M
dertaken. In the following article, first
of series, John T. Flynn, outstand-
ing economic writer, gives the argu-
ments for and against the plan.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
Produce Markets
NV United Pressl

CHICAGO Jan: 23.-Eggs- Market, frm
receipts 5088 cases; fresh graded f1rsts
23c; dirties. 201ac; checks 1812c. Butter
Market, firm receipts, 461s tubs; extra
firsts (90-911a scorel, 321a @3294c; extras
92 score). 33Ac; frsts $780, score)
31A d32Ac; seconds t86-s71a scarce, SIC;
specials, 334@33Hc; standards, 33Ac
Poultry-Market, tone strong; receipts
none, one car due; ducks, 17G22c: geese,
turkeys, 2o@23c; Leghorn hens, 14G18c;
old ROSTERS. ,l6c; broilers, 25626c. Dressed
poultry---Turkeys, young toms. 27c: young
hens. 27c; capons, 27M30c. Cheese
Twins, 16@16Ac: daisies, 1872 a 16s4c;
Longhorns, 161ad 1634c. Potatoes-Supply
moderate, no trading because of cold
ments Gil.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
GRUNOW TO INTRODUCE
1886 REFRIGERATORS
First Showing of New Models to
Be Held at Columbia Club

The first Indiana showing of the
new 1886 line of Grunow refrigera-
tors is to be held tomorrow night
in the Columbia Club from 7:45 to
8, the Griffith Distributing Corp,
indianapolis distributors, announced
today.
A dinner at which many pronin-
ent factory officials are expected to
attend will precede the meeting. A
telegram received from the factory
by the local distributors stated that
shipments of the new 1886 lines
will start within two weeks.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
APPROVES CASH DIVIDEND

Times Special
NEW YORK, Jan. 23.-Appro7al
of cash distributions totaling s400. 600
on various series of participation
certificates by directors OF the Ma
tional Bondholders Corp, was an
nounced today by G. E. ONeil,
president.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23

The utility
holding COM
pany act has
been met by
p r e di C tons
that it will de-
stroy a vast in
dustry and in
hict endless
] oss es upon
American in
vestors.
A series OF
operations is
now in process
which has a
bearing on this.
Remember the
t h e utility
holding COM
pany act is de-
signed. not to
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
U. S. EXPORTS
TO ITALY CAIN
OVER YEAR AGO
Shipments of Petroleum
Products Increase,
Report Shows.
BIZ Tinted Press

By United Press
WASHINGTON, Jan. %. - Italy
increased her purchases of American
goods in December by more than 90
per cent compared with a year ago,
the Department of Commerce re-
ported today. There was a sharp
drop, however, in December exports
as compared with November.
At the same time total American
exports dropped sharply while i'm
ports rose. American exports to
Italy in December totaled S7.913OO0
compared to S9,054,000 in November
and s4,807,035 in December, 1884.
Shipments of petroleum products,
the life-blood of Italy's East African
communications, continued to rise.
Metal Exports Gain
December purchases brought ex-
ports to Italy in 1885 to ST. ,331 1914,
compared with s64090,713 in 1884.
The commerce figures Gid not reveal
any particular movement of NUM-
lions to Italy, the largest gain in
December being in non-metallic
minerals. These accounted for
$2,325,301. compared with $453,047
year ago. Exports of metals and
manufactures, except machinery and
vehicles rose to $1,763,351 from $685.
010, while machinery and vehicle
exports increased to $778,270 from
SAP 1882 in December, 1884.
The figures also showed that the
United States increased its pur-
c6ases of Italian goods to S4,663 376
in December from $2,902,776 in De-
cember, 1924.
Increase Is Unseasonal
American imports from Ethiopia,
principally of animal and animal
products, rose to $48,536 from $4,000.
America nexports to Ethiopia fell TO
$1671 from 1923.
The unseasonal increase in total
December imports was caused by
larger movement to this country Of
crude rubber, tin, undressed furs,
wood pulp, copper, petroleum, hides
and skins and vegetable oils.
The December foreign trade
brought total American trade with
the world to the highest level since
1881. Total exports last year were
$2,282 ,023 ,000, the highest since 1881.
when they we're $2,424. 289 ,000 I'M
ports last year were $2,047, 70 7,00o,
the highest since 1881, when they
were $4,000, 635, 900 Most of the gain
in exports occurred IN the latter
part of the year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
VOTES STOCK DIVIDEND

4 tm6S SpeClut
FORT WAYNE. Ind, Jan. 23.-
Directors of the National Life In
surance Co. today declared dividends
of $1.20 on $40 share of stock.
They are payable quarterly, Feb.
/, to stock of record Jan. %: May
l, of record April "a; Aug. l, Of
record July Is, and Nov 2, of rec
ord Oct. 26.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
TINE Bethlehem Steel Co. has

announced that 1T plans to con-
solidate its more important sub
salaries and change its own char
acter from that of a holding COM
pany to that of an operating COM
pany. The United States Steel is
considering the same thing
Other corporations are working
out plans to simplify and in some
cases to do away with subsidiaries
altogether and do business through
one great operating company. And
while they are doing this they are
telling the public on another front
that the year ahead is full of
promise and Singularly without
that foreboding of catastrophe
which one might suppose would at
tend these dire reorganizations.
The holding companies in the
utility field can do the same. The
only one to suffer will be the pro-
moters and adventures who get
rich running these complicated
rackets.
Copyright. 1886. by NEA Service. Incl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-23
PROMOTION ANNOUNCED

TOLEDO, O., Jan. 23-Stanley j.
McGiveran, manager of sales mer-
chandising of the Owens Illinois
Glass Co., has been promoted to as
sistant general sales manager of all
divisions, it was announced today.
Evening star., 1936-08-16
Court Frees Man
Held Committed
Without Hearing
Judge Says ]. P.'s Can.
not Make Prisoners
Leaue County.

By the Associated Press.
SNOW HILL, Nd, August l5.-Cir-
cult Court Judge James M. Crockett
freed John Duke, 34-year-old Ocean
City fisherman, from the Maryland
House of Correction after hearing
testimony that he was sent to the
prison without being given a hearing.
Duke was released from the House
OF Correction yesterday after being
committed on August 8 to serve a one
year sentence. The commitment was
signed by Magistrate Ralph B. Parsons,
but his docket showed no trial for
Duke.
However. 1t did show that in Septem-
ber of 1885 Parsons sentenced Duke
to q year on charge Of being drunk
and disorderly and resisting an officer.
This sentence was suspended on con-
dition Duke left the county, the docket
showed.
Lemuel B. Cropp. chief of police of
Ocean City, testified that he believed
the law justified sending Duke to the
House of Correction on the previous
suspended sentence, inasmuch as Duke
had returned to the county.
Judge Crockett helS Duke had not
been properly tried before being COM
nitted and pointed out that magis.
trates have no right TO force prisoners
to leave the county or State.
Evening star., 1936-08-16

crop restriction at home while stimu-
lating production abroad. As Q result,
he said, the purchasing power of agri-
culture has been reduced, the farm
crisis prolonged, the relief rolls
extended.
Promises Held Scrapped.
Peek accused President Roosevelt OF
scrapping his 1882 campaign promises
to the farmers for tariff benefits on
surplus crops in favor of an under
taking ito create a scarcity to improve
prices" This has made it necessary,
he said, to bring in the products of
foreign farms to meet the agricultural
requirements OF the United States.
What in the beginning were an
nounced to be emergency measures" I"
Peek said, now appear to be con-
tinuing program Of those men who
envision a regimented people as the
desirable new order in America and
free trade world as su American
goal"
Like the manufacturers, the Amer
ican farmer. Peek explained. must have
volume and something more than the
Evening star., 1936-08-16
DIPLOMATS WEIGH
ROOSEVELT SPEECH
Seek Meaning From "Our
Neighborhood" Defense
Suggestions.
Fy the Associated Press.

Py the Associated Press.
President Roosevelt's assertion In
his Chautauqua speech that I'VE can
and will defend ourselves and defend
our neighborhood" drew varied reac-
tion here yesterday in diplomatic and
peace society quarters.
In formal comment on the Presi-
dents address, spokesmen for the
National Council for Prevention of
War and the Women's International
League for Peace and Freedom mixed
praise of his expressed hatred for war
and his stand on neutrality with crit
icism of the pledge to defend "our
neighborhood"
Compared with Menroe Doctrine.
There was much discussion in dip
lomatic circles as to how the Presi-
dents statement compared with the
warning given by President Monroe
a little more than 100 years ago
against further efforts by European
powers to expand in this hemisphere.
Interest in it was heightened by the
approach of the all-American peace
conference at Buenos Aires, sum-
moned some time ago at Mr.. Roose-
velt's suggestion to consider means of
perfecting the peace machinery of the
American continents.
officials of the International League
for Peace and Freedom addressed an
open letter to the President, thank
ing him for support on neutrality,
the reciprocal trade agreements and
his own personal hatred for war" but
adding:
1T is our conviction also that many
taxpayers will be shocked to learn
that their money is being spent for a
military establishment large enough
to police all the Americas"
Speed Is Specific.
In prepared statement, Frederick
j. Libby. executive secretary of the
National Council for Prevention of
War, said Mr.. Roosevelt's speech had
'the great merit of being specific"
and that it was "a powerful bid" for
the peace vote.
Libby contended, however, that the |
address extends the Democratic plank !
on national defense dangerously to in
clude the defense of our "neighbor-
hood" as we'll as our soil, thus justify
ing an unlimited navy"
Many diplomatic sources interpreted |
the Presidents reference to our
as including the 81 !
American republics, which embrace
the entire Western Hemi.
sphere except Canada.
The Monroe Doctrine, with which
the Roosevelt statement was compared
by some, stated that "the American
continents, by the free and indepen-
dent condition which they have as
sumed and maintained, are hence
forth not to be considered as subjects"
for further expansionist aims of Euro
pean powers.
Basis for Action Discussed.
Whether Mr.. Roosevelt's policy
might form the basis for some action
at the coming all-American peace
conference was a question which
evoked no answer in official quarters
Earlier predictions that an effort
will be made at the Buenos Aires con-
ference to expand the Monroe Doc
trine into a multilateral instrument
subscribed to by all the Americas re-
manned matter of conjecture.
1t was said authoritatively, however,
that the United States did not intend
Evening star., 1936-08-16
APPROVED IN CANADA.
Speech Held Reaffirmation of Mon
roe Doctrine.

TORONTO, August Is CP.-General
approval of President Roosevelt S
peace address at Chautauqua, N. Y,
was voiced tonight by officials here,
although many commentators ex-
pressed the opinion the President
merely reaft1rmed a section of the CEN
tury-old Monroe doctrine.
One of the points in that doctrine
was American antagonism to attempts
by any foreign power to gain a foot
hold on the American continents and
Attorney General Arthur Roebuck of
Ontario declared President Roosevelt
reasserted this stand.
President Roosevelt didn't 60 be-
yond the traditional policy of the
United States Roebuck said, "and
just now it will serve as a very wei
come remembrance. We must stress
the fact Of what good neighbors we
are"
Controller J. George Ramsden of
Toronto hailed the speech as mag
nificent gesture"
Prof. George Brown of the Univer-
sity of Toronto History Department
said he saw the address as significant
and welcome and a further evidence
Of United States good will.
Evening star., 1936-08-16
cost Of production for his average
Production Restricted.

cost Of production for his average
price.
Production Restricted.
"As contrasted with this objective" !"
he continued. ''the farmer has been
restricted to limited production and
has received such q low level of prices
as to result in a gross income Of q
little over $4,000 ,ooo, 900 in 1885, in
stead OF the $11, 900, 100000 received,
on an average, during those lean years
through the twenties.
Somewhere and somehow he seems
to have been short changed at least
$4,000. 900 900 in yearly income. Bear
In mind that the $4,000, 100000 in
come, shrunken as 1t Is, also includes
that 100000. 900 in Government
checks How long will the farmers be
satisfied to trade 5000 ,00o, 900 a year
for $500 100000 What has happened
has taught the farmer, as nothing
else could. that volume and price must
60 together and that he must have
adequate markets at home and
abroad"
(Copyright. 1880
Evening star., 1936-08-16
REICH PAPER HITS
PRESIDENT TALK.
Charges U. S. With Share
in Creating "Iniustices"
After World War.
81 the Associated Press.

81 the Associated Press.
BERLIN, August l5.-The news
paper Der Tageblatt took exception to-
day to President RooseveltS Chautau-
Qua, N. Y, address with the obServa-
ton that it was doubtful whether he
served the cause of peace.
The United States, it said, after the
World War participated in creating
the injustices which burdened Ger
many unbearably."
1T is doubtful" the newspaper said
editorially, whether the President
serves the cause of peace-which un-
doubtedly he has close to his heart
by attacking certain nations,
His speech charged them with in
tolerance, dogmatism and with dis
regard of treaties not only in fact but
also in letter-a very contestable state
ment.
This is all aimed at us. We could
retort by mentioning the interference
and taking sides which Is contrary to
the policy of utmost reserve which
America imposed on herself, and a
ruffiing of European public opinion
at a moment when a breeze Of better
understanding has sprung up. But we
do not wish to harp on this.
Our sole interest is to stress the
fact that such summary judgment is
not warranted and that the United
States after the World War partici-
oated in creating the injusticeS which
burdened Germany unbearably. Con-
seouently the United States should
exercise greater moderation in judg-
ment."
ARGENTINA APPLAUDS,
Evening star., 1936-08-16
Hitch.Hikes to Police.

CHICAGO P.-The dusty man who
entered the Cook County sheriff's Of
flee identified himself as Homer Pena,
81, for two and half years a fugi-
tive on q charge of defrauding the IL
linois Emergency Relief Commission
Of $4,750.
I've been four days on the road"
he announced, "hitch-hiking all the
way from New York, and I had to
fight myself forward nearly every step
of the way. I wanted to get this over
with"
Evening star., 1936-08-16
PEEK ASSA|[S
FARM PROGRAM
Declares Agriculture Has
Lost Ground in Fight for
Equality With Industry.

Under the present program, Ameri-
can agriculture has definitely lost
ground in its fight for equality with
industry, George N. Peek said yester-
day in a radio address over the Ma
tioral Grange Hour.
The loss of foreign markets, said
Peek, who left the administration
after he could not agree with the
A. A. A. and the reciprocal trade
treaty policies, has led to attempts at
Evening star., 1936-08-16
ARGENTINA APPLAUDS.
Newspaper Sees Roosevelt Rising
Above "AH Dictators."

Newspaper Sees Roosevelt Rising
Above "AH Dictators."
BUENOS AIRES, August Is P).-
President Roosevelt's peace address
last night at Chautauqua, N. Y. the
newspaper Noticias Graflcas declared
today. raised his figure above the
stature of all the dictators."
Buenos Aires newspapers applauded
the speech. which Noticias Graficas
said finds a propitious echo in the
anxious and desperate multitudes of
the world"
Roosevelt spoke before multitude
Of United States citizens but directed
his words to the entire world" the pa
per said.
without the intention of making a
parallel between discourses recently
heard from Rome or from Berlin and
which proclaimed violence and ex-
pansion as the two sole aims of modern
states, we recommend reading this dig
nifled and sincere Roosevelt speech,
content and with which Roosevelt
raised his figure above the stature of
all dictators"
The newspaper declared the Presi-
dent, before the opening December !
of the Pan-American Peace Confer
ence which he proposed in February,
wished ito give precise form and ORR
entation to his international policy,
entirely free of dreams of domination
and violation Of others rights which
orient the international attitudes of
Fascist nations"
The international policies of the
New World" Noticias Graficas added,
never have been inspired by prin-
clples other than democracy-all
American nations without exception
can subscribe to the words of the great
President Of the North"
Evening star., 1936-08-16

to take the initiative In such q move.
In the view of some Latin American
sources here, the pledge to defend ''our
neighborhood" probably will be well
coined widely in South and Central
America, where the failure of the
League of Nations to prevent aggres-
sion in Manchuria and Ethiopia. cou-
pied with the prevailing disturbed
conditions in Europe, have occasioned
expressions of alarm lest the security
of the Western Hemisphere some day
be jeopardized.
Evening star., 1936-08-16

tCopyright. 1880
Evening star., 1936-08-16
WATERLESS WEEK ENDS
Reading Supply Turned on Again
After Gasoline Ban.

READING, Pa, August IS LP).-A
week Of ginger ale shaves" aud no
baths, that saw dirty dishes stacked
high in kitchen sinks and housewives
doing the family wash at 3 am.
ended yesterday as the City of Read
ing sent water through faucets in
hundreds of homes in nve suburban
communities.
The water famine started when a
court order closed spring, the prin-
cipal source Of supply of the Sinking
Evening star., 1936-08-16
Friend" Gives $4,000.

This years contribution of the I'M
known friend who for 13 years has
been contributing to King Edwards
hospital fund in London is $4,000,
making tota! of $4,000.
Evening star., 1936-08-16

spring Water Co., because 1t was
tainted with gasoline.
More than 5000 persons exhausted
every resource during the last week
In attempting to perform personal
household cleaning chores.
The Waterbury Democrat., 1936-05-12
ENGINEERS TO
 HEAR HAGCARD
YaIe's Witty PhysiOlOgist to Address Elton Dinner
 Meeting Thursday

Dr. IT. W. Haggard of Yale uni- vcrsity, associate professor of ap- piled psychology and the author of many scientific papers in physioIog- ical subjects, will address the an- nual dinner meeting and ladies' night of the American Society of Mechanical Engineers at the Hotel Elton Thursday evening on, Devils, Drugs and Doctors.
 n the World war Dr. Haggard served as captain in the chemical welfare service and Is recognized as an authorit on poison gases.
 The May issue of Fortune" re- fers to him as "Yale's Witty Physio- iogist" who thinks that the indus trial revolution with It's time clocks and noon whistles has clamped our meal habits into 8 three-a-day routine"
 He is a most interesting speaker and his discussion of Devils, Drugs and Doctors" should be of interest to the ladies as well as the engineers.
 The officers of the executive com- mittee of the local section of the society includes R. L. Palatine, principal of Continuation school, chairman; A. L. Davis of the Sco- will Mfg Go, vice-chairman; Charles w. Rush of the Waterbury Mfg Co.,, Secretary-treasurer, and Y. J. Daly, ST., L. c. Bean, R. 0. Parry and M. J Dempsey