davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02
Gen. Johnson SAYS

WASHINGTON, May I'm the 1923 campaign,
w Mr.. Hoover said that machine production
turns out goods much in excess of what we can con-
sumo, and that in order to maintain employment
we must sell more goods abroad. He advocated do
Ing tn1S by lending "our surplus capital" To back
ward and crippled countries
Asserting that in March, 1921 we had between
i've and six million unemployed he claimed that
within year" these had been given jobs and that
employment had been maintained since with few
recessons. He was Secretary of Commerce then
and 1t may be assumed that he knew what he
was talking about.
In March, 1921, the United States EMPLOYMENT
index stood at $685. One year later it was 1872 In
other words, not five million new jobs-but none
In 1928 the base had been changed from 1923-100
to 1926-100 but since 1926 the old base was
91.9, it is not hard to revise the 1928 index for
comparative purposes In July, 1928, it was 1877,
or 2 lower than in March, 1921-when, according to
Mr.. Hoover, between five and six million men had
jobs. 1t indicates a vast unemployment right
at the time of the Coolidge boom.
DRESIDENT ROOSEVELT said something at Bal
L timore about there having been tremendous un-
employment in 1928, and Ogden Mills accused him
of careessness with facts and misuse of figures.
Nobody knows the facts about this battling problem.
but If there was any misuse Of figures, it was by
another President
A commission on unemployment in 1921 reported
only 2750000 unemployed in industry, with pos
sbly another 10000 in miscellaneous calngs-and
not between five and six millions. Whatever the
figure was, II this Federal index of employment
means anything at all, the 1928 figure clearly ind
Gates that our mechanical industry, even when 60
ing full steam, does not provide enough jobs.
Copyright. 1885. by Syndicate. Inc)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02

Wall Street. One is the Truth-in-
Securities Act. This has been
beneficial because it forces bank
ers or corporations putting out
new issues of bonds or stocks to
file with the commission very
full account of the essential facts
affecting the securities.
This act has worked fairly well
thus far. But it has not affected
the stock exchanges very much,
since very few new stocks have
been issued. This has been not
because of the act, but because of
the general investment situation.
The other act is the Securities
Exchange Act. under which the
commission governs the stock
market. Investors must under
stand that the commission does
not aim to advise investors or to
aid them in their investment or
speculative problems. Its bust
ness is to see that the exchange
is run as a free, honest market
place. While the commission has
done some good work, it has
really not done very much, as yet,
to change the methods in the
market.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02
Times Books

CUsAN ERTz looks so years into the future in
~ her new novel, Women Alive (Appleton-Cen
fury; ST. and draws picture of a world that has
got itself into very bad fix, indeed.
1t has solved good number of its ordinary me-
chanical problems In 1t, people are healthier bet
ter fed, better clad, better housed than they are
now.
But they haven't learned how to avoid war, and
they finally get into one which leaves them as its
legacy, new and deadly pestience-a pestience
which leaves the men unframed. but kills of every
female earth.
So the takes its head In its hands and
sits down on the curb to await extinction. Just
as 1t gets its mind prepared for the inevitable the
expected miracle pops UP. There is, after ALL one
woman on earth; young English GIRL who escaped
the plague and is hale, hearty and full Of life.
The race thus, isn't going to die after ALL 1t is
going to start all over from scratch Its possibilities
are infinite.
It will be composed of select few who will have
at their disposal all the science wealth, and knowl-
edge of past generations without the drawbacks.
Miss Ertz plays with this idea, then brings her
novel back to 1886 and writes A1nis" Although you
get the feeling that she could have done with
this provocative theme. the story its stands Is
readable and stimulating. (By Bruce CattonJ
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02

TINE COMMISSION has laid
Il down some rules under which
securities are listed with ex-
changes. The facts which cor
porations whose shares are listed
are compelled to supply are speci-
fled by the Commission.
But this is hardly more than
the stock exchange already re-
quired in listings. And some
critics have even insisted that the
Commission HAD actually miti-
gated the severity of the exchange
rules.
Speculation with bank credit is
not in the hands of the SEC. The
power of margin rules is lodged
with the Federal Reserve Board.
Up to recently margin rules
were scarcely more severe than
any prudent brokerage house
would have required. And even
now, while for most active stocks
margins of SIS per cent are re-
quired, this is not much different
from the requirement of a sound
commission house even in 1929.
However, there has been some
improvement here. But the whole
agitation against speculation with
borrowed funds is by no means
settled. There are men in Con-
gress as well as in academic cir
cles who believe that margin
trading should be done away with
altogether.
Next, manipulation. Can brok-
ers still manipulate stocks? And
do they do it? The law contains
a series of prohibitions against
manipulation. One is that it is
unlawful to do so. This is not
very effective, since it is very
difficult to prove manipulation in
any given case.
The only way to prevent ma
nipulation is to take out of the
hands of operators the weapons
they use for the purpose. What
are these weapons?
They are in part I'd margin
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02
Washington Merry-Go-Round

abrupt change of attitude. He is
a ranking member of the commit
tee and for months offered no
objection to the inquiry. His sud-
den attempt to. ak the probe is
much to the secret delight of the
uneasy railroad moguls and their
bankers. Windsor-tie wear
ing Rep. Robert A. Green of Flor
ida, who filed the impeachment
charges against Judge HalSted
Ritter, now is wrangling for ap-
pointment to the ousted jurist's
place. A congressional redistrict-
ing of Florida has brought Green
and Rep. William j. Sears Qor-
merly at-large) against each other,
and Green,N fearful of defeat, is
trying to grab off the vacant
judgeship. The Republican
committee on national convention
arrangements narrowly escaped
an open row with union printers.
The union complained to Rep.
Chester G. Bolton of Cleveland
that the committee planned to
have the official program printed
by a non-union shop, threatened
to rouse rumpus. Bolton investi-
gated, had the work switched to
a plant acceptable to the Union.
VICE PRESIDENT JACK
Y GARNER is offering to bet
Republican Senators that they
can't name six states their party
will carry next November. So far
he has no takers. Assistant
Atty. Gen. John Dickinson once
worked at the same desk and in
the same law Office in North
ampton, Mass, as did Calvin
Coolidge. A large poster IN
the main entrance of the Justice
Department advertiSes mystery
play to be performed by the
81. B. I. Theater Group" The
initials F. B. 1. stand for Federal
Bureau of Investigation, the G.
man agency. The poster is
adorned with pictures of comely
feminine members of the F. s. ].
staff. 4. Judge Ben Hillard, de-
feated for reelection to Congress
in 1918 because he voteo against
United States entrance into the
Wofld War, has announced his
candidacy for the seat of Sena-
tor Edward P. Costigan, of Colo
RADIO.
lCopyright, 1886. By United Featurs
Syndicate. Incl
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02
Saved From Fate Worse Than Death

OURS has not always been united family. We
" were split into three sections by the elevator
strike, the Guffey coal bill and the fact that my
mother once belonged to the D. A. R. and was think
ing of running for third vice president.
I always have felt that contract bridge came
along Just in time to save her from fate worse
than death. At present think ought to say, in
all fairness to her. that she wouldn't go across the
street to hear patriotic address unless it was in
the hope of getting fourth for bridge
Ironically enough some Of my activities OF which
she has dsapproved strongly now Ray prove useful
to her. I am in position to give her good advice
When the police come, go quietly. Insist on your
one telephone call before they lock you IN the cell
and don't give YOUR right name or my record will be
used against you.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02

or that some other factor
was going to move stocks
up for a while. What could
this other factor be?
Unquestionably it is the feeling
that some kind of initiation is un-
der way and that it will continue
for a while longer.
The force making for higher
prices is a combination of these
two forces plus one other. The
vague yet dominating impression
of recovery is spread out among
what might be called the invest
ing and semi-investing or semi
specializing public which buys for
the long pull.
The more professional ele-
ments in the market do. mot share
this view. But they realize that
this public impression is fer
tile soil to do business in. And
they also realize that the i'm
provement in profits and the rise
in purchasing power is the fruit
of the credit initiation under way.
They are convinced besides that
this credit initiation will continue
for another year or SO. And so
out of these elements they have
put on the pressure with some
response from the public and the
corresponding rise ii prices.
TINE confidence in imitation is,
Il of course, based on govern
ment spending. There is no fear
in Wall Street of any immediate
resort to currency imitation. But
Wall Street is able to understand
that the expenditure Of more than
eleven billion do1iars by the Adj
ministration in three years-all of
this eleven billion obtained with
out taxation and with bank loans.
lis form of credit imitation.
There is $1,000, 900 600. of pur-
chasing power created not in the
normal way by producing any,
thing and paying out this sum in
costs, but by sheer technique of
Uncle Sam borrowing and passing
the money out to business through
the medium of relief, etc.
If you will go into a neighbor-
hood and lend money or give
away large sums of money to the
people in the neighborhood you
will be putting purchasing power
into the hands of the customers
of the merchants in that neigh
borhood.
If they show signs of prosperity
you will know where it came from.
This is what the government
has been doing-putting billions
of purchasing power into the
hands of the customers of our
merchants everywhere.
Wall Street knows this will con-
tinue. The President still has left
more than five billion dollars in
uneXpended balances already
granted him to spend. He has
also announced that he needs an
other billion and a half and may
be two billion for relief. Also at
least an additional billion is to be
distributed to the veterans as
bonus money.
It is certain this will go on as
long as Mr.. Roosevelt is in power.
And Wall Street secretly knows
that even if the Republicans win
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02
EhZnouHh
BY
WESIBRO0KPEGLER

NEW YORK, May 2.-Something tells
me that country which has fed on
banquet chicken, New England shore din
ners and the barbecued beef which mocks
the hunger and the bridge work of the
American tourist along the highways will
roll with the punch of Senator Dickinson's charge
that many of our citizens have been eating canned
dog food and come up smiling don't know the
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02

they will have to continue spend
ing.
NTHAT does this mean in.
w terms of the market? 1t
means that the inflationary
policy pushing the market up is
going to last at least for another
year. 1t means that, if the mar
ket continues up much further, a
break is sure, but that the break
may be only temporary and will
be followed perhaps by recovery.
Even if the market does not
go higher, there may be a tenn
porary break, to be followed by
recovery. But it also means that
the whole price structure is based
on a thoroughly unwholesome
force and that sooner or later
there must be an adjustment.
The other force in the market
must be noticed. The market
seems to me to be a distributors
market.
That is, during 1888 and 1884,
various operators and institutions
and corporations acquired by COM
pulsion large blocks of securities.
More recently, when Wall Street
saw the definite infls,tionary char
acter of the market, more active
operators began to accumulate
lOW-f7rirpd charoc
With the lift in business these
people have been selling their
shares to the hopeful public. How
much actual manipulation has
been going on to effect this it
would be difficult to say.
This, perhaps, helps to explain
how there has been so much &C
tivity without a corresponding
increase in bank loans in the mar
ket. There has been a heavy dis
tribution of low-priced stocks
which many persons have been
induced to buy for cash and with
out the use of market credit. Also,
there has perhaps been lot Of
floor trading either to help in
distribution and boost stocks or
merely to take advantage OF the
current situation. And, of course,
lot of this trading is done with
out either cash or credit.
THIS is further confirmed by
IL the volume of trading. It has
been large, but not at all record
breaking.
Thus, last year there was a lot
of heavy trading, yet the total
sales OF shares were only 1866
600, or not very much more than
1884. And it was only a little
more than half what was done in
1888. This year, thus far, sales
have been heavier than in the
same months last year. That is,
they have been around 200,000,0OO
Shares or somewhat less than 1888.
This would seem to indicate that
since there is no enormous de-
mand being exerted against the
shares, the upward swing of stocks
has been helped along by some of
the old devices.
This brings us to ask-what
has happened to Wall Street
under the new regime-under the
Securities Exchange Commits
sion?
The answer, of course, Is that
nothing much has happened yet.
The situation stands about as fol-
lows:
There are two acts affecting
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02

credit. 20 the. collaboration of
the specialist, -(31s the, aid very
often, of floor brokers, "a -ffcti-
-tious trading, 60 publicity, tips,
rumors, etc., co options and
other devices to aid brokers to
accumulate shares, Cd short sell
ing.
MARGIN credit the operators
AVA still have in abundance.
The specialist still remains I'M
checked. The commission has
been studying this subject, but
has done nothing about it.
The floor trader still remains
unchecked. Here again the COM
mission has been studying the
subject, but has not acted.
Fictitious trading is prohibited
outright by the act. The COM
mission has hauled one broker
Mike Meehan, large scale brok-
er and operator-over the Goals
to prove that he conducted lot
of fictitious trading in Bellanca
stock.
But the trial has lasted for six
months and the testimony makes
UP bales of paper. Obviously the
commission can not repeat such
an effort often. One thing it can
do is to make the punishment so
severe when it does investigate as
to make brokers fearful Of being
caught.
Publicity, tips, rumors, ETC., are
of course all made unlawful by
the act.
The commission may make fules
against options, but as yet it has
not done so.
Thus, we see that while the
commission has been studying
many subjects and has made some
good Investigations, notably the
investigation of the whole abuse
of reorganizations, it has not yet
got down to brass tacks really to
curb the market.
If the market n1isbehaves, the
commission is going to be blamed.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02

ingredients OF these rations which
are put up for the canine pack
age trade, but I have had much
experience in public eating places
and remember many meals which
might have aroused the humane
society had they been offered to
a dog. The Senator may not get
around as much as some of us.
Do you suppose he ever has
sat through an alumni dinner or
the annual get-together of the
district managers of a big Amer
lean business firm? If so.
wouldn't he remember the cold
pale consomme, the gutta percha
broiler with the fuzz barely
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02
BY JOHN T. FLYNN

T.. FLYNN
Copyright 1886.
NEW YORK. May 2.-Who and what has brought Cock
Robin back to life?
What force is it that has revived the stock market?
Of course the general impression that recovery is set
ting in is sufficient of itself to give an impetus to stock
prices But as already pointed out Is per cent
rise in business activity would not be sound basis for
AZ per cent rise in stocks Beyond the general notion that
recovery is under waya very uncertain and not at all
liked convlctlon--there would have to be belief either
way that recovery going to continue for long period
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02


her bridge is even little worse
than that, and so If her apart
ment is raided I suppose I could
stand aside and say grimly, RET
ribution," and let it go at that.
But I would do nothing of the
sort. If the worst occurs I will
stand shoulder to shoulder with
her in court. Maybe I could ar
range to get arrested for picketing
on the same day as a sort of
tactful gesture to lessen her sense
of shame.
She leads away from aces and
neglects to keep jump bids alive.
Ilt1t che ic cti1I my rat lan,.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02

XXTASHINGTON, May 2.-Sena-
wv tor Jim Couzens suddenly
has gone on a behind -the-scenes
warpath against the sweeping in
vestigation of railroad finances
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02

I never thought to see her part of crime wave.
Probably it could all be traced to something in her
early environment, and I have retained Lebowitz
just to be the safe SIDE If he was able to win an
acquttal for Vera Stretz have every to feel
that he could get my mother off with small fine
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02
II Seems hM
| BY
.HEYWOODBR0UN

NEW YORK, May FL see the police are
making raids on contract bridge
games and, naturally, I'm worried about
my mother. She was not sympathetic
when l was arrested in Milwaukee, even
though pointed out that was first Of
fender and also political prisoner" But now if
the campaign against contract continues she runs the
risk Of being apprehended as a common gambler.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02
Board Bill Is a Serious Thinq

+ ne Is dog on special rations, he usually does
i much better, for kennel dogs are fed on good
meat bought fresh from the market in large ouanti-
ties, cooked by dog expert according to veteri-
narys instructions and served on time with appro-
pirate vegetables. Certainly one kennel of dogs of
which have knowledge were better fed than most
OF the people Of the class for whom the Senator has
been breaking his heart. They eat beef almost ex-
cus1vely and their hotel bill is serious item to the
man who owns the herd; but then the dogs sell for
500 or more head and mediocre beef which brings
only few dollars the hoof cut West is converted
into very superior dog flesh in a few months
Human beings more fastidious than dogs in
respects but they have other tastes which dogs
abhor. I am thinking at the moment of whisky
gin and cigarets believe you could be arrested if
you were to infict any dog half dozen highballs
or Tom Colinses or tie the poor mutt down and
gas him with the fumes of package of cigarets
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02
That FdUor;te DeIicdcu

LAS the Hon. Gent from Iowa never ATTEMPTED
That favorite American delicacy hewn from
the carcass OF an abandoned heavy duty tire burned
IN the fumes OF gasoline incnerator and served as
tne mouse speciality at thousand roadside cabins
East and west all OF them known as Bills Bar-B-O.
die and dance, good eats? If not, he hardly can
Call himself 100 per cent American and if so.
would he infiict these horrors on dog?
The Senator overstrained fol dramatic effect in
charging tnat MS fellow-men were down to dog
food. It might have been better for his nurnose
had ne said on the contrary, that only few
Americans were known to be up to it.
It Is my impression that in the United States
the FAMILY dog eats about the sort of fare that
the family gets along on. AS rule he is a genial
understanding mutt who knows his prerogatives
and comes to the table with the family to sit by not
exactly begging, for that is bad manners but max
ing little gestures with his ears and tail which
amount to an eloquent silent appeal He gets a
splinter OF meat here, dab of the dressing or
bread and gravy there and keeps his appetite in
check that way until dinner is over, when he gets
all that Is left on his own plate by the back stoop
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-02

Singeo' tne canned peas done in shade of house.
paint green, the traditional hard-she roll and the
tasteiess butter? Has he ever stopped his car at
clam parlor anywhere along the coast of Maine or
turtle steak resort in Florida to torture his teeth
and innards with gritty chowder or corduroy meat?
The Waterbury Democrat., 1936-04-29
RECKLESS DRIVING
 CHARGE BOOKED
Accused Driver Obtains Continuance in City
 Court Until May 6

Continuance to May 13 was grant, ed Fritz Moran, 21, of 228 Lincoln street, charged with reckless driving before Judge John P. McGrath in city court today. Moran was the driver of car which struck a park ed car at East Farm and Orange streets Sunday night. MT. and Mrs. B. Fl. Russet, of 26 St. Paul street. riding with Moran, were injured and received hospital treatment. The continuance was ordered to permit testimony of Mrs. Russet, who is still at St. Mary's hospital.
 Continuance to tomorrow was giv- en Nick Apicello, 22, of 173 Baldwin street, charged with breach of peace. Irving Coleman, 27, of TAO South Main street, charged with breach of peace as the result of an altercation with his former wife, was given a 30 day suspended jail sen- tence.
 Simon Cronin, 30, of 1901 South Main street, charged with breach of peace when stone he allegedly threw at his wife went through the windshield of a car driven by Emil Cusson, or 239 River street. on South Main street yesterday, was fined $10 and costs and placed on probation. He was arrested by Captain Will liam Duggan of the motor patrol.