Indianapolis Times, Volume 47, Number 222, Indianapolis, Marion County, 25 November 1935 — Page 11

Trends Public Housing Has Received Little Support. BY JOHN T. FLYNN

YORK. Nov. 25.—Sccretary of the Interior Harold Idees has been severely criticised by Mrs. Preston Vais, director of the National Republican Builders, for what is called his 100 per cent failure in the field of public housing. It, is possible to do a very grave

t injustice in such criticism if it is made without a knowledge o f the facts. There has not been in Washington or out of it a more sincere believer in low cost public housing than Mr. Ickes. No one, perhaps, more than he, deplores the fact that more houses have not

John Flynn

been built. But it is a fairly well recognized fact that President Roosevelt himself, despite many utterances he has felt it necessary to make; has never been much of an advocate of public works. In the NRA act of 1935 some $3,300,003,000 was pro. 'led lor a great public works program. a a a AT the time an inflationary tide . was running strongly, business was rising, and as the NRA got under way, with a great waving of flags and sounding of cymbals, the President apparently decided that it would not be necessary to use the public, works money. The NRA. he probably imagined, would produce recovery so quickly that the great fund would not have to be heavily drawn on. Gen. Johnson was sent ahead under full steam and with enthusiastic presidential backing, while the PWA was put under the direction of an unknown man with a few clerks in a small office. It was forgotten. It was not until business seemed to pause in the early fall of 1933, alter the inflationary bubble burst in July, that the President decided to act on PW4. Then he transferred the movement to Mr. Ickes. a b a BUT even then his attitude was always hesitant, apprehensive. He was afraid of "pork” and "graft.” While he drove ahead on NRA, he paralyzed the PWA department with fearful and incessant cautions. As for housing, it was that part of the PWA for which Mr. Ickes was most enthusiastic. But several obstacles stood in his way. First, he had to start from scratch. Second, city authorities, dominated as they usually are by real estate interests, fought him at every step o fthe way. Under the circumstances he could have achieved results only on one condition—that he would be backed by the enthusiastic support of the President. It will be recalled that the President, after much talk about housing, in 1934 turned his support to Mr. Moffat’s plan for rehabilitating old houses. That was a severe blow to those who had been praying for a real housing program. The pitiful failure of that amazing piece of nonsense turned him back again to low cost housing. But only mildly and half-heartedly. (Copyright, 1935. NEA Service. Inc.) On Commission Row Quotations below subject, to change arc average wholesale prices being offered to buyers by local commission dealers: Fruit—Cranberries, early blacks. 25-lb. box, $4 Pears—Washington D'Anjo, 53.25. Cantaloupe—California Honev Dews. $2; Casabas. $2 25: Persians, $2.45. Bananas —7 hands, a pound, 5%c. Persimmons—lndiana 12-qt. case. sl. Apples—lndiana Jonathans. $1.60. Summer Rambos. $1; Delicious. $1,604/1.75. Wealthys, $1: Grimes Golden. $1.15 // 1.25. Lemons—Sunkist, 3605, $6.50 Grapefruit—Texas. 64s to 70s, S3 50. Florida seedless, $3 Limes—Mexican a carton 12s, 20c; Persian seedless a hundred, $3. Vegetables—Beans, green, round stringless bu.. $2.75 Beets—Home grown. doz., 25c. Cabbage Northern Danish, 50-lb. bag, 75c Carrots Home grown, 40c. new bulk, half bu.. 60c. Cauliflower —Michigan, crate, $1.50: Long Island, large crate, $1.50. Celery—Michigan, washed and trimmed, extra large. 55c: jumbo, doz.. 60c. Cucumbers.—Southern bu.. $3.50, doz.. 85c. Kale—Home grown, bu., 60c. Lettuce —Iceberg, California, best. $5.25, home grown leaf, 15-lb. basket, $1 Endive—Ohio basket. 85c. Mangoes—California crate. $4.75; small basket. $1.25. Mint—Bunch, 15c. Mustard—Home grown, bu.. 60c. Onions Indiana yellow, 50-!b. bag. $1; Indiana yellow, 10-lb. bag, 22c; western Spanish, 80-lh. bag, $1.50. Parsley—Home grown, doz., 35c. Peas—Telephone, hampers. $4. Potatoes—Round Cobblers. 100-lb. bag, $1 65; Michigan Round White. 100-lb. bag. $1.50. Early Ohios, bu.. $1.65; Idaho Russets. $2.40. Sweet potatoes Indiana. Jerseys, bu.. $1 65. Radishes—Ohio, button doz. haskets. 45c Sage—Doz., 45c. Spinach Broad leaf, bu., 75c. Squash—sl.so Tomatoes—California. repacked. 10-lb. carton. $1.25. Produce Markets The prices quoted below are paid for s'oek gathered in the country, while delivered in Indianapolis the price will be a cent higher Heavy breed hens. 16c: Leghorn breed hens 12c: springers, over 4' 2 lbs . 17c; under 4% lbs., 16c: old cocks. 9c; Leghorn springers. 11.,I 1 ., lbs. and up. 12c. Turkeys—Young hens. 8 lbs. and up. 19c: toms. 13 to 18 lbs . 19c: over 18 lbs.. 18c; old toms, 14c Ducks—White. 4'lbs. and up. 10c; geese. 10 lbs., full feathered and fat. 9c: old guineas. 15e: vourg guineas. 1' a lbs. and up. 25c. No. 1 strictly fresh eggs, loss off. 27c: pullet eggs. 18c. Each full case must weigh 55 lbs. gross, a deduction of 10c a pound under 55 lbs. will be ms.de No. 1 butter. 33o,6 ‘- 0, 37 1 -c: No 2. 34’-35’-c; butterfat, 31c. Quoted by the Wcdley Cos. ißv United Press) CHICAGO. Nov. 25—Eggs Market, steady; receipts. 1856 cases; fresh graded firsts 29c: extra firsts, 30c: current receipts. 27® 28c: dirties. 20®21c; checks. 19 1 20c Butter—Market, steady; receipts 6037 tubs: extra firsts 1 90-91 ’ - scorei. 31% :32',c; extra 192 scorei, 32%c: firsts 18889’; score). 30%®31c: seconds 1 86-87' scorei. 92'jc: specials. 33’ yc 33 c: standards 32’ic. Poultry—Market, steady: receipts 2 cars, 37 trucks. 2 cars due: ducks. 15 1 .. :18c; geese. 15'.-c: spring chickens. 19 ’ -Pc hens. 14®T8%c; turkeys. 224; 26c; Leghorn hens, 14c: old roosters. 14c. Cheese- Twins. 17%.;17%c: daisies. 17 V.i 18c; Longhorns. 18:. 18%c. Potatoes—supply heavy: demand very slow; market dull with slightly weaker tendenev. Idaho Burbanks. SI.BO a 1.85; U S No. 2 *}■?* Wisconsin Round Whites. 1 - 2 J; commercials. $1.05: Minnesota ann North Dakota Red River Ohios, $1 30; fS. * n il n !P*' s -, **sc; Colorado McClures, A -V v Nebraska Bliss Triumphs. $1.40. (Saturday? 3 ’ ° U track 460; shipments 486 l nlisted Stocks 'Bv Blyth & Cos.) NEW YORK BANK STOCKS Bid. Ask. Bankers ggT s Central Hanover B & T 123-% 126 Cnitst .... 37*4 303. Chemical National 56-' 58*1 Guaranty 307 310 Rung i g„ j7s Manufacturers ss.i, aos. National City 331* 343* Corn 111 iChicago) 94% 96% Fir.s, National of Boston . 43% 45 Natl Shawmut 25% 26% FIRE INSURANCE Aetna Fire 56 58 City of New York (new) .... 28% 30 1 . Federal Ins gp* * Great American Ina 26% 28% Hanover Fire Ins 37% 39% Hartford Fire Ina 78% 80% Inc Cos of N A 36% 37% National F;re 70% 72% North River Insurance 72% 74% Fnoenig Insurance 28 30 u s Fir? s*i • . Manchester Fire 35% 35%

♦ ♦ Abreast of The Times on Finance ♦ ♦

THRIFT BANKS INSURE SAVINGS ; OF CUSTOMERS 1300 Private Institutions Protect Depositors in 43 States. ! Time* Special WASHINGTON, Nov. 25.—More | than 1300 private thrift institutions of the savings and loan type in 43 states in the last 14 months have taken steps to provide further safeguards to their 1.500,000 shareholders and depositors by applying for insurance under the Federal Savings and Loan Insurance Corp. Over $1,030,000,000 of assets arp held in the applicant institutions, of which 1035, with more than $600,000.000 of assets, are already insured, protecting each of their 890.000 investors against loss up to SSOOO. Only well-managed, financially sound associations are approved for insurance by the corporation. In emphasizing safety for longterm savings as the main reason for investing in their institutions, in | contrast to speculative profit or extremely high dividend returns with attendant risk, the executives of these associations also seek to reduce the cost of home ownership to the average family, and to stimulate greater building activity in view of the growing shortage of homes, by making long-term loans j at correspondingly moderate interest j rates. Resources of More Than Six Billion They believe that such protection to the savings of great numbers of | small investors is the most effective [ way to develop lower home mort- | sage casts, by attracting a large | voiume of money at reasonable rates. More than $6,000,000,000 of resources are held in associations eligible to apply for such insurance. Os the 1035 savings and loan associations already insured, 481 are long-established building and loan j associations, co-operative banks and homestead associations, 385 of which have converted into Federal savings and loan associations. The remaining 544 insured institutions are newly organized Federal associations. Practically all associations which have applied for insurance are members of the Federal Home Loan Bank System, with access to its lowcost reserve credit facilities in expanding their loanable funds and aesuring greater liquidity to the investment of their shareholders. Associations Are Local Insured associations are local in character and under private management. Their long-term mortgage loan plans vary according to conditions in their own communities. Their interest rates on loans now range from 5 per cent to 6'i per cent in the Northern and Eastern sections, and from 5% per cent upward in most other parts of the United States. A number of insured associations have qualified and are insuring some of their mortgages through the Federal Housing Administration, although an insured association is not required to place its funds in insured mortgages. Dividend rates currently paid to investors in insured associations are from 2\> per cent to 5 per cent annually, according to the locality, the average rate for the nation as a whole being slightly above 3>,i per cent. The Federal Savings and Loan Insurance Corp. was established by act of Congress in June, 1924. It has a capital of $100,000,000, subscribed by the Federal government. JOBS 3 TIMES EASIER FOR WOMEN TO GET Analysis of Employment Agency Records Shows Trend. Time* Special NEW YORK, Nov. 25.—1 t is three times easier for a woman to find a job than a man. according to a report presented to the third Metropolitan Conference on Employment and Guidance Procedure today. Dr. Lynn A. Emerson, director of the New York Y. M. C. A. School, presented the report which analyzed the records of 66 public and nonprofit making employment agencies i here for January, 1930, and January, I 1935. The study showed an increase of 25 per cent in job openings over the five-year period and almost a quadrupling in the number of applicants. APPOINTS VICE PRESIDENT Times Special CINCINNATI. Nov. 25.—Carl J. Kiefer, consulting engineer, has been elected vice president in charge of plants, construction and maintenance of the Schenley Products Cos. of New York, it was announced today by Lewis S. Rosenstiel, chairman of the executive and finance committee. EXTRA DIVIDEND VOTED Times Special CHICAGO. Nov. 25.—Directors of the Kelvinator Corp. have declared an extra dividend of 20 cents a share in addition to the regular quarterly payment of 124 cents, it was learned today. Both dividends are payable Jan. 2 to holders of rec- j ord Dec. 5. Dividends Declared Dividend rates are given in dollars and cents unless stated otherwise. Company— Rate Perd Payable close BarnsaaH Corp .15 Q Feb. 1 Jan. 10 Barnsdall Corp. .05 ex Feb. 1 Jan. 10 Bullock's Inc . 25 Q Dec. 2 Nov. 11 Bullock's Inc 25 Q Dec. 2 Nov. 12 1 Enamel Prods. 10 Q Nov. 30 Nov. 25 I aLake of Woods Milling 7% cum p 1.75 .. Dec. 16 Nov. 30 i bKevstone Watch Case 1.00 .. Dec. 20 Dec. 10 1 Lehigh Portland Cement 7% cum and 87% Jan. 2 Dec. 14 Scott Paper .45 Q Dec. 31 Dec 17 Scott Paper 20 ex De:. 31 Dec 17 Scott Paper 70% ex Dec. 31 Dec. 17 William Carter D .. 1.50 Q Dec. 16 Dec. 10 Weston Elec Instr A ... .SO Q Jan. 2 Dec 19 cWts Pw % Lt 6% cum p 75 . Dec. 15 Nov. 30 a First payment since Sept. 1, 1931. when $1.75 was paid. bOn account of accumulations. cFifty cent* was paid in previous quarter.

INDIANAPOLIS, MONDAY, NOVEMBER 25, 1935

MEASURES OF BUSINESS ACTIVITY IN INDIANA

_ BANK’DEBITS NEWSPAPER ADVERTISING JO "■ 1 ■ —" ■ ' -i io ' - ■■ I'— ■ — —T- JO —"—— * N 25 “ 10 1928 i7FS 1930 '931 )932 *933 '93J - S ° 1928 1929 1930 193' 1932 1933 1934 193 J SO BUILDING ACTIVITY * " PIG IRON PRODUCTION 100 | p r— —l'OOi —— 1 00 JO A. so J\| M \ - I .. ' N ■ . H 10 50 —S)m. SO iQO— -1 - .... —L *■- 100 '9£B 1929 1930 <9i 1932 '933 '93* *935 1928 929 1930 *93* 1932 *933 193* '935 1 I NEW CAR SALES . AUTOMOBILE PRODUCTION 00 1928 1929 1930 '93: '932 '933 '93a 1935 00 1928 1929 1930 193' 1932 1933 1934 193 J 100 USED CAR SALES , COAL PRODUCTION ° '928 1929 '930 193' 1932 1933 -1934 1935 50 1928 1929 1930 19311 32 1933 1934 1935 GASOLINE SALES ELECTRICITY * PRODUCTION i0 1928 1929 1930 193' 1932 1933 1134 1935 30 1928 i929 1930 1931 1932 1933 1934 1935 30 DEPT.'STORE SALES * LIFE INSURANCE SALES 'SO | 1 1 501 .50 25 2i Wa yjt r AvA A/L 2$ 40 1928 c 1929 tmc above curves show trends or activity in various 'lines of trade and industry after allowances have been made for the usual SEASONAL VARIATIONS AND NORMAL YEAR TO YEAR CHANGES & FIGURES' AT THE ENDS OF THE CHARTS INDICATE PERCENTAGE DEVIATIONS FROM NORMA*.* Compiled by the Bureau of Business Research, School of Business Administration, Indiana University.

New York Stock Exchange Prices

(By Thomson & McKinnon) 11:15 A. M. Prev. | Oils— High. Low. N. Y. close. Amerada 74'/ 8 74% 74% 73’2 Atl Rfg 24% 24% 24*4 24% Barnsdall 13% 12% 13’/< 12% Consol Oil 10% 10% 10% 10 Cont of Del . ... 28% 27% 277 a 28 Houston (new). 7 6 % 6% 6 Mid Cont Pet ... 16% 16% 16% 16% Ohio Oil 11% 11% 11% 11% Phillips Pet .36 357 a 36 35',* Plymouth Oil ... 12 12 12 11% Pure Oil 13% 13% 137a 13 Seaboard Oil ... 317a 31% 31% 31% Shell Un 14% 14% 14% 14% Skellev Oil 16% 16% 16% 16% Soc Vac 13% 13% 13% 13 S O of Cal ... . 37% 37% 37% 36% S O of Ind 28% 28 28% 28 S O of N J .... 40% 43% 49% 49% Texas Corp .... 25 24% 24% 24% Tidewater Assn . 12% 12% 12% 12% Un Oil of Cal ... 20 Va 20% 20% 2074 Steels— Am Roll Mills .. 31 % 31 31 30% Beth Steel 50% 49% 49% 50% Byers AM 19% 19% 19 19% Cruc Steel 29% 28% 29% 28Va Inland Steel ...106 106 106 106% Ludlum Steel ... 24% 24% 24% 24% Mid Steel 237'a 23 74 23% 23 Natl Steel ...... 81 74 8 1 81 74 80% Otis Steel . 16% 16 16 16% Rep Iron % Steel 20% 1974 19% 19% U S Pipe & Fdy 21% 21% 21% 21 U S Steel 49% 49% 49Va 4974 Warren Bros . 5% 5% 5% 5 Youngtn S & T-. 35% 3474 35% 3474 Motors— Auburn 8774 8674 86% 86Va Gen Motors 58% 5774 57% 5774 Graham Mot .... 374 3Va 3*4 3 Hudson 1674 1574 15% 1574 Hupp 2% 2% 274 2% Mack Truck 2574 25% 2574 2474 Nash 17% 17% 17% 17V4 Packard 6% 674 6% 6% Reo 574 574 5*4 5 Studebaker 1074 10% 10% 10% Yellow Truck .. 874 874 874 87* Motor Access— Bendix 21% 2174 21% 2174 Borg Warner 6 4 74 6 3 % 6474 63 Briggs 53 52 74 52 % 52% Budd Mfg 9% 97s 9% 9% Budd Wheel 13% 13% 137a 13 % Eaton Mfg . .. 28% 2874 28% 287a Elec Auto Lite . 35 74 34 % 35% 34% Elec Stor Bat 5774 5774 577a 5774 Houdaille iB) 29% 29% 29% 2974 Murray Bodv .... 21% 21% 21% 20% Stew Warner.... 1774 177a 177-t 1674 Timker Roll . 69'i, 69% 69% 70 Timken Det Axle 1174 1174 11% 11% Mining— Alaska Jun 16% 16% 16% 16% Am Metals 30% 30% 30% 307a Amer Smelt 6274 62Va 6274 62 Anaconda 2574 2574 25% 25 Cal & Hecla 5% 5% 57a 574 Cerro De Pasco . 59% 5874 58% 59% Dome Mines .... 41% 41% 41% 41% Gt Nor Ore 14% 14% 14% 14% Homestake Min.. 448 448 448 425 Howe Sound .... 58% 58 58% 57 Int Nickel 397a 39% 39% 39% Isl Creek Coal.. 29% 28% 29% 26% Mclntyre Mine... 39 39 39 39% Park Utah 5 4% 4% 5 Phelps Dodgy; . 26% 26% 26% 26 St Joe Lead . ... 23%. 23% 2374 22% U S Smelters .. -100% 100 100 100% Vanadium 21% 20% 20— 207 8 Amusements— Croslev Radio ... 17% 17%- 17% 17% Fox Theat 24 23% 23% 23% Loews Inc .. .. 55% 54% 54% 54 1 4 Radio Corp 12% 12 12 12 Paramount 9% 9 9% 9% RKO 5% 5% 57a 574 Tobaccos— Am Sum Tob ... 26% 26% 26 1 26’7 Am Tob A" 102% 102% 102% 102 Am Tob B'’ 105% 105% 105% 104% Gen Cigars 52% 52% 52 74 52 Lorillard . 25% 25% 25% 25% Reyonlds Tob B 52% 52% 52% 57% Rails— Atchison .. 55% 54% 54% 5434 Atl Coast Lines . 30% 30 30 30'> B& O 17 1 4 16% 16*, 163 t Can Pacific 12% 11% 12% 12% Ch & Ohio ... 53 52% 52% 52% Chi <fe Gt W ... 1% 1% 1% ia 4 Chi &Gt W pfd 4% 4% 4% 53, C M & St P 1% 1% 1% is CM & St P pfd 3% 3% 3% 3 Chi N W . ... 3% 3% 3% S% Chi N W pfd ... 8% 8% 8% 874 Dela & Hud . . 39% 38% 38% 38 Del Lac &W . 17% 16% 177, 167. Erie 13 12*, 13 12 Erie Pfd 16% 16% 16% 16% Grt Northern pfd 33% 32% 32% 3?sH! Central . .. 18% 17*4 18% 17% K C Sou 10 9 3 4 93 4 9 Lehigh Valley .. 10% 9% 10% 9% Lou & Nash 60=* 593, 597 58 - M K & T .... 6% 6% 6% 6 % MK & T pfd ... 15% 14*4 143* 131" Mo Pac 2% 2% 2% I=l Mo Pac pfd 474 4 4% 3=. N Y Cent 28% 27% 27 s , 27% N Y New Haven 4% 4= s 4% 4% N Y Ont & West 6% 6% 6% 6% Norfolk & West. 199 199 199 198% Nor Pacific 24% 24 24=4 24 Penn R R 30% 30% 30% 30= a Reading 39% 39% 39% 38% I Sou Pac 24% 24% 24% 24% i SOU R R 1434 14% 14% 147, Union Pac 106% 106 106% 106 Wabash 2% 2% .. 2*4 West Maryland .. 97, 9 9% B=*; Equipments— Am Brake Shoe .41 % 41 41 40% I Am Car & Fdv .. 31% 31 31 31% ' Amer Loco ... 26% 26% 26% 26 1 Am Steel Fdy ... 24% 24 24% 24 i Bald Loco .. . 57, 5 5% 4% I Gen Am Tk Car 45% 45% 45% 44% Gen Elec 39% 39% 39% 39% ! Gen R R Sig . . 39% 39% 39% 39 Pullman Inc ... 38% 38% 38% 38% West Air Br .. . 33% 33 33 33% Westingh Elec ... 95% 95 95 95% Utilities— Am & For Pwr . 7% '3, 7% 7% Am Pwr & Lit . 8% 8% 8% 8% AT&T 159=4 158% 159 157% Am Wat Wks ... 21% 20% 21% 21 Col Gas & Elec . 14% 14 14 14% Com & Sou 32% 32% j Consol Gas .... 3474 33% 33% 33% Elec Pwr & Lit.. 6 5% 5% 5% Int Hydro Elec. 4% 4% 4% 4 Interboro R T.. 18% 17% 17% 17% Int TANARUS& T 13% 13% 13% 13% Lou G & E "A" 22 21% 22 213. Ntt Pwr & .. 10% 10% 1C % 10% D

North Amer .. 27% 26% 26% 27% Pac G& E 29'/2 28% 28% 29*4 Peoples Gas .. 39% 39% 39% 39 Pub Serv N J... 45'% 45 45 45 So Cal Edison.. 25% 25% 25'% 25% Std Gas 5% 5% 5 5 /a 5% Stone & Webster 13 13 13 13 United Corp . . 7=4 7*% 7'% 7% Un Gas Imp .. . 17=4 17% 17% 17% Ut Pwr & Lt A 3% 3% 3% 3*4 Western Union.. 74% 74 74% 73% Rubbers— Firestone 17% 17 17 16% Goodrich 12% 12% 12% 12% oodyear 21% 21% 21% 21 % U S Rubber . ... 15% 15 Va 15% 15 U S Rubber pfd 41% 41 41% 40*2 Miscellaneous— Allis Chalmers . 35% 35 35 34% N. Y. Bonds (Reprinted from Saturday) DAILY BOND INDEX 20 20 20 60 Irds. Rails. Util. Bonds. Today 91.2 81.2 103.0 91.8* Yesterday 91.3 80.4 103.0 91.6 Week ago 90.8 79.5 102.9 91.1 Month ago 89.9 78.9 101,4 90.1 1935 high 91.4 86 4 103.1 91.7 1935 low 83.6 71.0 89.3 83.0 •New 1935 high. (Copyright, 1935. by Standard Statistics) U. S. GOVERNMENT BONDS (By Abbott. Proctor & Paine) Treasury* Prev. Cose, close. 474s 1947-52 115.3 115.4 4s 1944-54 110.23 110.19 3%s 1940-43 107.4 107.4 3%s 1941-43 107.8 107.7 3 74s 1943-45 105.7 105.6 374 s 1941 107.21 107.19 374s 1941-46 104.27 104.27 37aS 1946-49 103.17 103.15 374s 1949-52 103.11 103.12 3s 1951-55 102.17 102.18 3s 1946-48 102.14 102.16 2%s 1955-60 *... 99.29 99.29 2%s 1945-47 6100.23 100.27 Home Owners Loan Corp. 2%s 1949 99.16 99.16 3s 1952 100.23 100.21 Federal Farm Mortgage Corp. 3%s 1964 100.15 102.19 3s 1949 100.28 100.28 3s 1942-47 101.11 101.13 DOMESTIC Prev. Close. Close. Alleg Corp 5s '44 86 85% Alleg Corp 5s '49 78% 77'% Alleg Corp 5s ’SO 497s 45% Am Frgn Pow 5s 2030 68 68 Am Tel & Tel 574s '43 11374 113% Am Tel & Tel 5s '65 113 113 Arm & Cos (Deli 574s '43 95 94% Atl Coast Line 4s '52 97% 96% Atl Coast Line 47 s '64 83% 83 Am Wat Wks 5s '44 11l 1111 Am Rolling Mills 5s '3B 124 123 Balt & Ohio 5s '95 72% 71% Balt & Ohio 6s '95 82 81% Balt & Ohio 474s '6O 58 57 Buff Roch & Pitt 474s '57 .... 64 64 Chi Milw & St P 5s '75 6% 5*4 Cleve Un Term 5s '73 99% 99% Cleve Un Term 4%s '77 91% 91% Col Gas 5s May '52 99% 94% Col Gas 5s '6l 97 74 97% Can Pac Perp 4s 84*2 85 Cent Pac 5s '6O 85*2 85*4 Big Four 4%s '77 75*2 74% Big Four 5s '63 83 83 Colorado &So 474s 'BO 53% 53 Chi & West Ind 4s '52 98*2 98*2 Chi & West Ind 5%s 62 105% 105=4 Chi & Nor West 4%s ’49 12% 11% Chesa Corp 5s '47 117 116 Del & Huds 4s '43 76=4 7574 N Y Dock 4s 'sl 6774 6774 Erie 5s '75 69 67% Erie 5s '67 69% .Hi!-, Gen Cable 5* 2S '47 100% 100% Grt Northern 7s '36 102 % 102% Grt Northern 42s '76 94% 93% Grt Northern 4%s '77 92'a 92*2 Gen Stl Cast W W 5%s ’49 ... 83% 83 Hud & Manhat Ref 5s '57.... 82 82% 111 Cent 4%s '66 56 55 111 Cent Jt 474s '63 58% 57% 111 Cent 5s ’63 63 % 63 Interlake C & I 5s 'sl 85 8o Interntl Hv Elec 6s '44 48 4774 Interntl Tel & Tel 4*4s '39 ... 83 82 Irterntl Tel & Tel 5s '55 ... 75 74 Interntl Tel & Tel 4%s '52 ... 71 70% McKess & Rob 5%s 'SO 102=4 1027a Natl Dairv 5%s ’4B 104% 104 Natl Steel 5s '56 10a% 105% Nickel Plate 4%s '7B 66*2 6d Nickel Plate 5%s '74 77 i4 4 i Nickel Plate 6s '35 84% 81 N Y Cent 5s 2013 77% 76 N Y Cent 4%s 2013 (old) 72 70% Nor Pac 3s 2047 72 .2% Nor Pac 6s 2047 103 102% Otis Steel 6s ’4l 101% 101 2 Penn Rv 4%s 'Bl 104% 104% Penn Rv 4%s '7O 97% 97% Pac G&E 5s '42 . ... ■ 106 10i% Portland Gen El 4'4s ’6O 74 72*a Para Publix 5%s 'SO 90% 90% Penn P & L 4%s 'Bl 105=* 105% Postal Tel & Cab 5s '53 36 3* Rem Rand WW 5%s '47 105% 104% ! Shell Union Oil 5s '47 103=* -03% ! Sou Pac 4%s ’6B 78 74% | Sou Pac 4%s 'Bl 75=* 74% | Sou Pac 4%s '69 76 75% I Sou Pac 4s ’49 80 i9% ! Sou Rail 4s '56 50 49% I Sou Rail 6s '56 66 61*2 j Sou Rail 6%s '56 68% 63*2 1 Sharor. Stl Hoop 5%s 48 .. ..102=* 102% ! Texas Pac 5s 'BO 92 91*2 | Texas Pac 5s '79 92% 91*2 ; Union ac 4s '47 111% Ill’s t United Drugs Drug 5s ’53 ... 95‘2 95 I U S Rubber 5s ’47 100% 100% NY NH & Hart 6s '4B 29 27’* NY NH & Hart 4%s 67 21=i 27 Warner Bros 6s '39 88'* 88 Western Marv 4s '52 95% 95% Youngstown S & T 5s '7O ...101% 100% Youngstown S & T 5s '7B ....100% 100% FOREIGN Argentina A6s '57 98% 98% Argentine B 6s 'SB 98*2 98 % Brazil 8s '4l 30 28*2 Canadian Govt 4s '6O 106 106% Denmark 5%s 55 100% ICO% German 5%s '65 31 31 = a German 7s 49 38% 38% Italy 7s 'sl 58 58% Japan 6%s '54 98 98% Rome 6%s '52 49% 48’* Tokio City sV a s '6l

Am Can 144 144 144 143 Am Mach & Fdy 31% 31% 31% 317s Brklyn Man Tr. 427a 42% 42(a 42 Burroughs Add. 27% 27% 27% 27% J I Case 108% 108 108 108 Conti Can 96% 95 95 96 Caterpillar Tract 59% 59 59 59 Deere &Cos . .. 54% 53% 54 54(4 Eastman Kodak. 168 168 168 167% Foster Wheeler.. 23% 22% 22% 22% Gillette 18% 18 18V4 18% Glidden 44 43% 43(4 43% Ingersoll Rand .116 115'% 116 114% Inter Harv . . 63% 6274 62 1 - 62% Natl Cash Reg . 21% 21'/a 21% 21 Va Rem Rand 17% 17% 17% 17(4 Foods— Armour 5% 5% 5% 5(4 Armour 6% pfd 67% 67% 67% 67 Beatrice Cream. 19 19 19 19 Borden Prod 27 26% 26% 27 Canada Dry G A 12 3 4 127a 127a 12% Cont Bak A 9 9 9 8% Corn Prod 71% 71% 71% 71 (a Crm of Wheat.. 37% 377a 377' 8 37% Cuban Am Sug . 6% 67a 6% 6(4 Gen Baking ... 11% 11% 11% n% Gen Foods 35% 34 35% 3594 Gold Dust ... 22 2174 21% 217a G W Sugar 33% 327a 32% 33 Natl Biscuit.... 35% 357a 3514 35 Natl D Prod ... 19% 19% 19% igi/ 4 Purity Bak 14% 14% 14% 14% S Porto Rico S. 27 27 27 26% Std Brands ....15% 15% 15% 15% Un Biscuit 24% 24% 24% 24% United Fruit ... 70% 70 70 70 Ward Bak B ... 2 2 2 2 Wrigley 78 78 78 77% Retail Stores— Assd Dry Goods 17% 17% 17% 17% Best &Cos 56(4 56% 56% 57 First Natl Stores 48% 57% 48% 47 1 '- Gimbel Bros .. 77* 7% 7)4, 7% Gr Un Tea . ... 374 3 % 3% 3% AUied Dept Sts. 8% 8% 8% 894 Jewel Tea 57 56% 56(4 56% Kresge S S 27% 27% 27% 27 3 4 Kroger Groc ... 26% 2674 26% 26% Macy R H 56 557a 56 547a McCrory St .... 13% 12% 12% 12% McLellan St ... 13(4 1374 1374 13”. Marshall Field.. 13% 1374 13% 13% May Dept St .. 56 56 56 55% Mont Ward 38% 38(4 38 74 38 7* Natl Tea 9% 9% 974 9% Penney J C 82 74 82 % 8274 82 Safeway St 34 33% 33% 337a Sears Roebuck .. 6% 66Va 66>/a 65% Woolworth 58 74 57 % 57% 58% Aviation— Aviation Corp .. 4’4 3% 4% 3% Boeing Aircft .. 13% 137a 13% 14 Curtiss Wright . 374 33 % 2% Curtiss Wr "A”. 9% 8% 9 8% Douglas Air 34% 33% 33% 33% Nor Am Av 5% 5% 5% 5% Sperry Corp . . 12% 12% 1274 12% Uni Aircft New. 21% 21% 2174 20% Chemicals— Air Reduction. 169 169 169 170 Allied Chem .167 166 166% 165 ,; > Am Com Alcohol 32% 31% 31% 31% Col Carbon 98 98 98 97 Com Solvents .. 22 21(4 21% 21% Du Pont 144 143 143 1437 2 Freeport Tex ... 29% 29’a 29% 29 Liquid Carb 34% 34(4 34% 34% Math Alkali 33% 32% 33% 327 2 Monsanto Chem. 93 93 93 94 Natl Dis (new).. 31% 30% 31 30% Schenley Dist .. 52% 52% 52% 52% Tex Gulf Sulph . 33% 33% 33% 33 Union Carbide . . 73% 72% 73% 73% U S Ind Alcohol 49% 48% 48% 48 % Drugs— Bristol Myers ..41% 41% 41% 41% Coty Inc 6% 6% 6(4 6% Lambert 24 74 2 4 24 % 24 Lehn & Fink ... 12% 12% 12% 12% Sterling Prcd ... 67 67 67 66% Un Drug inew).. 11% 11% 11% 11 >4 Vick Chem 41% 41% 41% 41 Zonite Prod .... 57 8 5% 5% 5% Financial— Adams Exp 10% 9% 10% 10 Allegheny Corp.. . 27a 2% 27a 2% Am Int Corp 11 11 11 10% Chesa Corp .... 59 57 58 56% Lehman Corp .. 94 1 i 94% 94% 94% Transamerica ... 13 12% 13 12% Tr Conti Corp.. 8% 8 8 8% Building— Am Radiator.... 22’L 21% 22 22 Gen Asphalt 21 21 21 20% Holland Furnace. 25% 24% 25% 24% Int Cement 35% 35% 35% 34% Johns Manville . 97 96'a 97 96% Libbv Owens Gls 47% 46’,a 47 46% Otis Elev 23 22% 23 23 Ulen Cons 3% 3% 3% 3% Household— Col Pal Peet 18% 18 18 17% Congoleum 45% 45'a 45% 45% Kelvinator . .. 15% 15% 15% 15 Mohawk Carpet .21 20% 21 21 Froc & Gamble.. 48% 47% 48% 47V* Servel Inc 15 14% 14% 14% Simmons Bed .. 18% 18 18(a 17% Textiles— Amer Woolen 10% 10 10 10% Belding Hem .... 14% 13% 14 74 1 4 Celanese Corp ... 29 28% 28% 29% Collins Aikman .. 46% 45% 46 45% Gotham Hose .. 9% 9% 9% 9% Indus Rayon 32 31% 31% 31(a Kayser Julius .. 26% 26% 26% 27 Money and Exchange INDIANAPOLIS STATEMENT. Clearings $1,900,000 Deflits 5,394,000 TREASURY STATEMENT IBy United Press) WASHINGTON. Nov. 25 —Government expenses and receipts for the current fiscal year to Nov. 23 as compared with a year ago: This Year. Last Year. Expenses. S3 040.776.980 24 $2,773,588,842 85 Receipts. 1,428.749,298.87 1.417.938.301.38 Deficit . 1.612.027.681.37 1.355.650.541.47 Cash bal. 1.456.900,279.82 1.599.659.901.74 DIVIDEND IS DECLARED Times Special BOSTON. Nov. 25 —A dividend of 20 per cent, payable on all jolicies expiring during the period lan. 1. 1936. to January 31. has been declared by the American Mutual Liability Insurance Cos., it was announced today.

PAGE 11

STEEL OUTPUT REACHES NEW HIGHFOR YEAR Heavy Demand From Motor Firms, Railroads Aid Production. Times Special NEW YORK. Nov. 25.—Supported by heavy buying from motor manufacturers, can fabricators, railroads and government agencies, steel production has reached anew top for the current year with Detroit pushing its facilities to capacity, according to a survey of business conditions released today bv Business Week. Long-delayed road building projects are now appearing in volume. Electric power production has set new highs each week for the last two months, with the end not yet in sight. The general index of Business Week reflects the current ac- : tivity by creating a* four-year high. On the other hand, it is stated, bankers are becoming concerned about the booming stock market (supported in part by foreign purchases), and the ever-growing pile of excess reserves. Exporters of cotton. oil, copper and steel scrap to Italy resent being put on the spot through Administration pressure without legislative authority, now that sanctions have gone into effect. Rail Income Spurts The recently enacted Canadian trade treaty finds adherents among those anticipating benefits, strong protests from those threatened with greater competition. And the prospects of new NRA legislation arising from Maj. Berry’s Dec. 9 meetings leave major industries in no amiable mood. Railway net operating income 4 in September reached the highest level for any month since October, 1933. October returns should be even better, since traffic reached the biggest volume since 1931. Heavy industries catering to railroads have longwaited for this recovery sign. And railroad buying has already begun. Unlike other years, steel consumers seem eager to get delivery of materials despite the approach of the year-end inventory period. United States Steel’s shipments last month reached the year's peak and were double those of a year ago. Railroads ordered 1250 freight cars in October, the second best month of 1935. These do not include cars built in the shops of the railroads, such as Pennsylvania’s recent program calling for 11.000. But either way the steel industry benefits from the raw material orders. Threats to boost rail prices are spurring orders. Local Securities (Reprinted from Saturday) (Because quotations on local securities are unlisted on an Exchange, The Times j can not assume resnonsibility for the accuracy of these figures gathered from local brokers.) STOCKS Bid. Ask. Belt RR & Stk Yds com 50 52% Belt RR & Stk Yds 6% pfd... 52 Central Ind Pow 7% pfd 17 20 Home Tel&Tel Ft. Wn 7% pfd 50’/a 52 Hook Drug Inc com 14 15% Ind & Mich Elec 7% pfd 99 102 Ind General Service 87 91 Ind Hydro Electric 53 57 Indpls Chain Sto Term pfd... 52% 62’% Indpls Gas Cos com 38 Indpls Pow &Lt 6 pfd .... 82 85 Indpls Pow & Lt 6%% pfd ... 87 90 Indpls Water 5% pfd ..102% North Ind Pub Svc 5%% pfd.. 67 70 North Ind Pub Svc 6% pfd ... 78 80 Progress Laundry com 6% . Pub Svc of Ind 6% pfd 12 15 Pub Svc of Ind 7% pfd ... 32 35 So Ind Gas & Elec 6% pfd.. 92 96 Terre Haute Elec 6% pfd 79 83 Union Title com 18 20 BONDS Atlanta Distr Term e% ’4l ... 62% 70 Buffalo Distr Term 6% '4l .. 70 80 Brooklyn Postal Sta 5’%% ’4B . 37% 42 Home Tel&Tel FtW 5%% ’35 .103 105 Home Tel&Tel FtW 6% ’43 .103 106 Indpls Railways Inc 5% '67 ... 49 53 Indpls Water 4%% ’4O 105 107 Indpls Water 5% ’SO & ’6O . 105 107 Indpls Water 5%% ’53&’54 103% 105 Interstate T & T 5%% ’53 ... 93 96 Kokomo Water Works ’SB .104 105% Lafayette Telephone 5% ’57 .102 . . Morris 5 & 10 Stores 5% ’SO 99 102 Muncie Water Works 5% '65 .102% . Noblesville HL&P 6% ’47 .... 96 98 Ohio Tel Service 6% '47 95 Richmond Water Works 56V57 104% 106 St. Louis Post Office 5%% '3B 18 25 Seymour Wtr Ist mtg 5% '59 101 104 Terre Haute Water Wkss% ’56 101% 103% Terre Haute Wat Wks 6% ’49 103 105 Traction Terminal s<y„ '57 .70 74 Goodrich 12% 11% 12 12 Goodyear 22% 21% 21% 21% U S Rubber . ... 15% 14% 14% 14% U S Rubber pfd.. 41% 39% 39% 40 Miscellaneous— Allis Chalmers 35% 33 % 34% 35 % Am Mach & Fdy 32% 31 31 32% Anchor Cap 15% 15% 151a 15 Brklyn Man Tr . 42% 42 42 42% Burroughs Add. 27 26% 27 27 J I Case 109% 103 104% 107% Conti Can . 96% 94 95 96% Caterpillar Tract 59% 58% 58% 59% Crown Cork . . 46% 44% 45 46% Curtis Pub .. . 20% 20 20 20% Deere &Cos .57 54% 54% 56% Eastman Kodak 170 167'% 167% 169% Foster Wheeler . 22% 20% z 20% 22’ Gillette 18% 17% 18% 18% Glidden . . 44% 41% 42% 44% Ingersoll Rand 115% 114 114 118 Int Bus Mach . 180 180 180 181 Inter Harv 64% 60% 62% 64% Chicago Stocks (By Abbott, Proctor & Paine) 11:30 Prev. A. M. close. Berghoff 7 7 Butler 8% 8% A. M. Castle 46 -45 Conti. Steel 41 40% Chicago Corp 4% 4% Cities Service 2% 2% Com. & Edison 97% 96 Cord 4% 4% Crane 22 21 Elec. House 18% 18% Gen. House 3% 3% Grt. Lakes 29 28’ . Libby . .. 9% 9% Noblitt Sparks 32% 32% Perfect Circle 41 41 Quaker Oats 140% 140 ; Swift 20% 20% i Swift Int 33% 33% New York Curb (By Abbott, Proctor & Paine) 12:00 Noon Prev. I N Y. Close. Alumn Cos of Am 91% 92 | Am Cyanide "B" 29% 29% Am Superpower 2% 2% Atlas Corp 13% 13% Axton Fisher Tob 56% 56% Carrier Corp 10% 11% j El Bond & Share 16% 16% I Ford of Can “A" 27% 27% j Ford of Europe 8% : Hiram Walker 32% 32% I Imperial Oil Ltd 20% 21 Nia Hud Pwr 9% 9% j Pan Am Airways 41% 41% ! Penn Road 3% 3% Sonotone 2% 2** Wright Hargraves Min 7% 7% I BONDED DEBT REDUCED Times Special MIAMI BEACH. Nov. 25.—Municipal bonds worth $471,000 were retired during the past year, although not due for 18 years. City Manager Claude A. Renshaw revealed in his annual report rendered recently. While making this move, j the municipality, however, was able to construct more than $200,000 in improvements without increasing the public I

Walgreen Net Income Drops Walgreen Cos. reports a net income for the gear ending Sept. 3Q of $2.320,372, equal to $2.32 a share on 81-4,711 shares compared with a net of $2,558,89-4, or $3 a share on 763.285 shares in the preceding gear.

INVESTIGATED

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In a three-day hearing at Cleveland attorneys attempted to show that O. P. Van Sweringen. chairman of the board, devised the refinancing scheme, by which the T’Gccouri Pacific Railroad purchased its own stock on a falling market.

HUGS CUNTINUE STEAUY TRENU Cattle Market Unchanged: Vealer Prices Move 50 Cents Lower. Despite a heavy run of receipts on hand in early trading today at the Indianapolis Union Stockyards, the pork market continued to show a steady trading range. Although a weak demand prevailed in most classes, prices held at Saturday’s best average. Depressed somewhat by the heavy supply, trading developed slow. Receipts were estimated at 6000. compared with 2500 Saturday. Approximately 354 hogs were held over for tomorrow's market, indicating a slight letup in local demand. The general bulk of 160 to 275 pounds, was selling at $9.60 to $9.75. Heaviest grades available, scaling from 275 to 350 pounds, cashed in at $9.30 to $3.50. Light slaughter pigs, weighing from 100 to 160 pounds, brought $9.10 to $9.60. Good grades of packing sows ranged frem $8 to $9. Trading was slow in the cattle market, but steady to easy in early rounds. Few better grade steers were eligible around $11.65. while best heifers sold above $12.50. Others were valued to sell mostly under $lO. She stock showed little change, with most heifers selling from $5.25 to SB. Bulls brought. $4.25 to $6. Receipts numbered 1000. Vealers moved sharply 50 cents lower than Saturday’s best prices. Bulk of good and choice kinds sold at $lO to $10.50. Receipts were 600. The lamb market turned uneven, with native grades around 25 cents lower, and fed Western yearlings up 25 cents. Bulk of good and choice ewe and wether lambs sold at $lO to sll. Slaughter sheep sold at $3 to $5. Receipts numbered 1500. HOGS Nov. Bulk. Top. Receipts. 19. $9.60% 9.75 $9.75 6000 20. 9.60% 9.75 9.75 5000 21. 9.75%: 9.85 9 85 5000 22. 9.50% 9.75 9.80 6000 23. 9.60%: 9.75 9.75 2500 25. 9.60® 9.75 9.75 6000 Light Lights 1140-160) Good and choice . $9.25® 9.65 Medium 8.75® 9.50 Lightweights 'l6O-180) Good and choice... 9 60® 9.75 Medium ... 9.15% 9.65 (180-200) Good and choice . 9.65% 9.75 Medium 9.20% 965 Medium Weights (200-220) Good and choice .. 9.65® 9.75 (220-250) Good and choice... 9.60%. 9.70 Heavyweights (250-290) Good anc choice . . 9.40% 9.65 (290-350) Good and choice . . 9.30% 9.50 Packing Sows (275-350) Good 8.60% 9.00 1350-4251 Good 8 454; 8 75 (425-4501 Good 8.25% 8.60 (275-450) Medium B.oo® 8.50 Slaughter Pigs (100-140) Good and choice . 9.10® 960 Medium 8 35® 9.50 CATTLE —Receipts, 1000— (500-900) Choice $10.00% 11.25 Good 8.50% 10 50 Medium 6 50% 8 50 Common 4.50% 6.50 (900-1100) Choice 11.00% 12.00 Good 8.75% 11.25 Medium 6.75% 8.75 Common 5 00% 6.75 (1100-1300) Choice 11.25% 12.50 Good 9.00% 11.25 Medium 7.00® 9.00 (1300-1500) Choice 11.50® 12.50 Good 9.00% 11.50 Heifers (500-750) Choice $9.00® 10.25 Good 7.50% 9 00 Common and medium 4.25% 7.50 (750-9001 Good and choice 8.00% 10.50 Common and medium 4 25® 8.00 : Cows Good . 5.00® 6.00 Common and medium ........ 4 00% 5.00 Low cutter and cutter 3.00% 4 0(1 Bulls, good 5 50% 6.00 Cutter, com. and med. bulls 4 00% 5.50 VEALERS —Receipts. 600 — Good and choice $lO 00% 10 50 Medium 8.00% 10 00 Full and common 4.00% 8 00 Calves (250-500) Good and choice ... 7.00® 950 Common and medium 4 00%, 7.00 Feeder and Stocker Cattle )500-800i Good and choice 6.50% 8 25 Common and medium 4 254; 6.50 (800-10501 Good and choice .. 6.504; 8.50 Common and medium 4.25%. 6 50 Cows Good 5.00® 8.50 Common and medium 4.00® 5.00 SHEEP AND LAMBS —Receipts. 1500— Lambs. 90 lbs. down, good and choice $10.25% 11.00 Medium 8.50% 10 25 Ewes 1 90-125) Good and choice 4.00® 5 00 All weights, common and medium • 3 50® 450 1120-150) Good and choice 3 00® 4.00 . Chicago Grain Futures (By James E Bennett & Cos.) 11:30 Prev. Wheat— High. Low. A M. close. Dec I.ool* .99 3 a 1.00 ’ 1.00 May i 1.00(4 99’s .39 7 s .99 3 * July 92*4 .91(4 .92 (. .92 Corn— Dec 60 ,59 3 * ,59 3 * .59% I Mav 60 .59 1 .59% 59% Julv 60’j ,60 3 ,60% .60% Oats— Dec 27% .26% .26% .27% May 28% 28% .28% 28% : July .29 .29 .29 29% ! R re— Dec 50% .49% .49% 50 May 52% 52 .52 52% LOCAL CASH MARKET City grain elevators are paying 91 cents for No. 2 soft xneat. Other grades on their merits Cash com new No 4 yellow 51 cents and oats 19 cents RECEIVES BID CONTRACT BRAZIL. Ind., Nov. 25.—Cooper Bros. Cos., 666 N. Olney-st, Indianapolis, on a low bid of $47,053, has j been awarded the contract to rebuild a viaduct over the Pennsyl- j vania Railroad, two mila; east of , Harmony, on State Road §lO.

HOPE TO BREAK CABLE DEADLOCK FOR TELEVISION Hearing of A. -T. & T. Before Federal Commission Begins Today. BY DANIEL M. KIDNEY Time a Staff Writer WASHINGTON. Nov. 25—Efforts to iron out differences between the American Telephone and Telegraph : Cos. and the Federal Communicai tions Commission—differences which have been charged with deadlocking i progress in television—will be made > at a hearing here today. FCC granted the company permission to construct an experimental "coaxial cable" between New York and Philadelphia for ’ts subsidiary. the Bell Telephone Cos., but the order failed to meet with A. T. and T. approval and has not been carried out. The commissioners had decided that there was danger of the cable ] (which could transmit more than I 200 telephone messages simultaneously) being used by the company to create a television monopoly. So the order required that whenever the cable was used for other than experimental purposes of the Bell Cos. it would be placed under FCC control and its operation extended to all comers under commission rules and rates. Files New Petition To this abolition of the mon* i opolistic feature the company objected. A. T. & T- officials were quoted as saying that through this ruling the commission was delaying television—although thp television possibilities of the cable were not stressed in the company testimony at hearings on the petition; the telephonic angle was emphasized. Now anew petition has been filed, questioning the FCCs jurisdiction and also asking for reconsideration of the case. It is this petition which will be argued today. Company officials have estimated the cable would cost $580,000. The coaxial cable is a hollow brass pipe, sheathed In lead, carrying electrical impulses over a wider band than has been possible before. It is the only practical method discovered by which television pictures j can be piped overland for long disJ tances. Cable Will Be First Built Should the New York-Philadelphia | construction be carried out. it would be the first in America. Such cables 1 are in use in Europe, however. Aroused over the intimation that ! the commission order is to blame for impeding television. Commissioner Walker of the FCC assailed what he termed “A. T. <fe T. prop - panda” in a recent address before state utility commissioners at Nashville, Tenn. Mr. Walker is chairman of the FCC’s telephone division and in direct charge of the $750,000 investigation of A. T. & T. authorized by Congress. 8.000 PUT TO WORK ON GOVERNMENT PROJECTS Resettlement Administration to Start Soil Conversion. By United- Press WASHINGTON, Nov. 25.—The Resettlement Administration today announced that more than 8,000 men have been put to work throughout the country and that a daily average of more than 75.000 men ; was expected before July 1. 1936. The RA reported release of $15,000,000 of the $40,000,000 al- | located to the program and the dej cision to begin action on 125 oro- | jects in which the administration is fighting the effects of drought and soil erosion. About 5,500,000 acres of poor land will be converted by this work into forests, recreation areas, grazing districts and wild life refuges. MISSOURI PACIFIC R. R. INQUIRY TRANSFERRED Counsel for Trustees Will Take Depositions in St. Louis. By United Pr< ** CLEVELAND. Nov. 25.—Counsel for the trustees of the Missouri Pacific Railroad today prepared to transfer the scene of their inquiry into the road’s refinancing plans to St. Louis. In a three-day hearing here attorneys attempted to show that O. P. Van Sweringen, chairman of the board, devised the refinancing scheme, by which the road purchased its owm stock on a falling market. Depositions will be taken this week in St. Louis to prove that Van Sweringen is personally liable for losses resulting from the purchases and that the scheme was illegal. FILES SUIT IN U. S. COURT Associated Telephone Utilities Uo. Named in Action. By f nited Press CHICAGO. Nov. 25.—Ten officers and directors of the Associated Telephone Utilities Cos. and the Standard Telephone Cos., a subsidiary, were named in a $3,500,000 suit for an accounting filed in the U. S. District Court. Instigating the action is Clement A. Nance, banker and trustee in bankruptcy for the Standard Company which is reorganizing under Section 778 of the Federal Bankruptcy Act. The suit charges the officers mishandled the funds of the companies and deliberately looted them of their assets. ASSETS TO BE AUCTIONED Timi s Special COLUMBUS. 0.. Nov. 25—Assets of the Standard Wire and Tube Corp.. Mineral Ridge. 0., will be sold at public auction Dec. 5 by order of the United States District Court.

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