Indianapolis Times, Indianapolis, Marion County, 21 December 1938 — Page 4
State B
Trade Here is Laggi
ba $i Leveling Off, However, Is
of Recorded Near the
End of Month.
zr Sa A : ‘(Continued from Page One)
aed
"food prices, however, strengthened © “Sufficiently during, the latter weeks ~ +of the month to raise the November general wholesale commodity price
index. ' “showed continued weakness
Other| commodity prices through-
“out the month.”
Phe The Review gives the following
Roy
&
report on business conditions in Indianapolis and other Indiana cities? ° INDIANAPOLIS—Total outbound *earloadings dropped 10 per cent in the month and were 2 per cent “under a year ago. Inbound carload“ings were reduced 14 per cent dur-
. “ing November and were-11 per cent . “Jess than last year.
Bank debits, “yeflecting all domestic trade, fell off 12 per cent, an. amount much greater than that which is usual at “this time of year, November debits . were 7 per cent under comparablé «figures of last year. - . -- Newspaper advertising rose con-«$ra-seasonally, and although 3 per ~eent over October, was 6 per cent under a year ago. Livestock receipts dncreased 9 per cent during November and were 17 per cen} over a year ago. Retail drug sales fell off 7 sper cent during November. New car sales were 8 per cent under comparable figures of last year but used car sales were 4 per cent over those
~ of a year ago.
Tr
_ Department ‘store sales were about the same as last year. Wholesale grocery sales .were slightly greater than in November; 1937. Total retail sales were 1 per cent under October but 2 per cent over November pf last year. 2 & ANDERSON — Business activity ‘continued to improve during November but there were evidences of .a leveling off under pressure of seasonal influences. Building activity, measured by the value of permits issued, was roughly half that of October. Newspaper acvertising increased 5 per cent but was 19 per cent under a year ago. After increasing 4 per cent in November, postoffice receipts were 9 per cent less than a yzar ago. Sales of department stores fell 10 per cent during November and were roughly 25 per cent under a year ago. Cloth- ‘ ing land hardware sales fell 5 per cent this month and were around 20 per cent below those of last year. Furniture sales increased 20 per cent but were 25 per cent under a year ago. Drug sales were moderately under a month ago and a year ago. Retail sales in general were 11 per cent over October and 1 per ‘cent larger than last year,
Payrolls Increase
CALUMET DISTRICT—Weekly ~ payrolls during the month increased 13 per cent. In mid-November steel mlils were operating at 60 per cent of capacity, highest of the year. Ac- > tivity fell off a little during the last half of the month. Pig iron produc-
| tion increased roughly 10 per cent
' ‘during the month.
..-“ cent in both cities.
over a year ago.
Newspaper advertising increased during the month in Gary and Hammond 9 and 4 per cent, respectively, When compared with last November, lineage. was down {7 [per The value of building permits issued in the Calumet District declined in’ November and brought the cumulative total for the year to a point 28 per cent “below, that for the same period of
9317. ; iw . Retail sales in Gary were 14 per eent over October and 16 per cent greater than last year. In Hammond total retail trade rose 35 per cent in November and was 24 per cent
EVANSVILLE—Business activity showed improvement in November but the rate of change was not so great as in the previous months. Coal production increased contraseasonally to the highest point of the year. November output was 6 per cent under a year ago. News- | paper advertising fell off 5 per pent and was 9 per cent under a year ‘ago. Bank debité, reflecting | depressing seasonal influences, fell 11 per cent and were 16 per cent under gomparable figures of 1937. ; [Total debits for the year were roughly 20 per cent under those of the same period of last year: Livestock receipts fell off for the gecond iconsecutive month and were 14 per
"cent under October but 11 per cent
‘over a year ago. Postoffice receipts ‘increased 1 per cent to a point 3 per cent over last year. Total retail " “sales increased 8 per cent this
month and were 12 per cent over
‘those of November of last year,
|
; Jusiness in November Rises to Highest Point of '38;
~
JOBS DOUBLED AT HARVESTER
Local Plant Takes On 600 Since July and Expects To Employ More.
Employment at the Brookville Road plant of the International Harvester Co. has doubled in the past six months, a company spokesman announced today.
The total number of men now employed at the plant is about 1200, as compared with 600 in July, it was stated, which represents the employment peak reached so far. It was stated that the maximum employment provably would not be reached for at least two years and that a continual upward rise could be expected if normal business conditions continued to prevail, 3 The Brookville Road plant manpfactures truck motors. :
this year was fractionally greater than that of the comparable period of last year. Postoffice receipts increased fractionally during November, but were 2 per cent under those & last year. Although total retail sales were 13 per cent over October, they were 3 per cent under a year ago. . ; Advertising Increases
BLOOMINGTON—Newspaper advertising increased 2 per cent and was 15 per cent over comparable figures of last year. Bank debits decreased 3 per cent this month, but were 6 per cent over last year. Cumulative bank debits for the 11 months of this year were 3 per cent over comparable figures of 1937. Stone production in the Blooming-ton-Bedford district fell 2 per cent this month, a decline less than usual for the season. Total retail sales were 17 per cent under last month and 7 per cent under a year ago. : CRAWFORDSVILLE—Business in November just about held the gains made during the preceding months although there was some indication of 'a letdown. Retail trade picked up considerably around the end of the month, largely because Christmas buying started after Thanksgiving. Most stores reported sales in November moderately over those of October. Bank debits to individual account were 4 per cent under October and 16 per cent less than a year ago. Total debits for the 11 months of the year were 10 per cent below comparable figures of 1937. Newspaper advertising lineage declined 10 per cent in November and ‘was 6 per cent under the same month of last year. A slight dip in building . activity in November brought -the total for the 11 months of this year to a point 50 per cent under that of last year. Roughly 40 per cent of construction
this year was new residential build-|
ing. Postoffice receipts increased 38 per cent in November and were 10 per cent over levels reached a year ago. CONNERSVILLE — Bank debits, roughly measuring all domestic trade; fell 6 per cent in November to a point 34 per cent under yearearlier figures. Total debits for the 11 months of this year were 32 per cent under comparable figures of last year. Retail sales changed little during the month of November but were approximately 30 per cent under year-earlier figures. ELKHARPE—Pressure of seasonal influences erased some of the gains made during October. Car loadings into the city fell off 21 per cent during November and were 19 per cent under a year ago. Outbound carloadings dropped 20 per cent this
has
Fiction, Non-Fiction
® Books Popular Prices
ng.Behind
month and were 23 per cent less than last year. Total carloadings in and out of the city were 20 per cent under last month and under November of last year. New car registrations were 54 per cent greater than last month and 110 per cent over a year ago. LAFAYETTE — Business activity generally appeared to level off in November. Newspaper advertising increased. 17) per cent contraseasonally and was ¢ per cent over a year ago. Department stores sales were 12 per cent over October but 25 per cent under a year ago. Clothing sales fell off| 33 per cent this month but Were moderately over those of a year ago. MARION — Business activity dipped slightly during November. Newspaper advertising increased 8 per cent contraseasonally. Building activity showed considerable improvement during November but total construction for the first 11 months of this year was down 27 per cent. Department and drug store sales showed moderate improvement, while retail sales in general fell 15 per cent.
MUNCIE--Business activity showed improvement during the month although the pressure of seasonal influences cut down the previous rate of growth. Newspaper advertising increased 10 per cent contraseasonally but was 4 per cent under last| year. November bank debits were|20 per cent under those of a year ago. Retail sales increased 13 per cent during November but were 2 per cent under last year. Retail Trade Improves PERU—General business trends turned down in November, largely under. pressure of seasonal changes. Retail trade continued to improve
and department store and clothing store sales showed considerable gains during the month. Checking transactions fell 8 per cent, and total building construction for the first 11 months of the year was roughly double that of the same period of last year. | PRINCETON—November brought little change in either direction. Industrial operations were from 5 to 10 per cent under a year ago, Very little change took place in retail trade. Department and clothing
a year ago. Mines were not working on favorable schedules.
RICHMOND—Although the trend of general business activity showed a disposition to level off under pressure of seasonal influences, some indicators strengthened. A 15 per cent increase in newspaper advertising was recorded. Checking transactions fell 3 per cent. Building activity increased substantially. Department store sales increased 5 pe: cent this month but were 15 per cent under a year ago. Clothing sales gained about 1 per cent, but furniture sales fell 5 per cent, drug sales jumped 14 per cent, and total retail sales fell 4 per cent during November but were 10 per cent over those of last year. SOUTH BEND-MISHAWAKA -—- Payrolls declined 3 per cent this month and were 8 per cent under those of last year. Car loadings into the district were 12 per cent under those of October and 5 per cent below those of last year. Outbound car loadings declined 1 per cent, depar:ment store sales increased 13 per cent, furditure sales fell conside:ably, new car sales were 30 per cent under October and 3 per cent below a year ago, clothing sales rose roughly 7 per cent, and total retail
and 12 per cent less than a year ago. TERRE HAUTE—Business activity in November dipped moderately in conformity with seasonal influences. Newspaper advertising increased 3 per cent, individual checking trensactions fell 5 per cent, building activity showed improvement and retail sales in general were 5 per cent under October, but 10 per cent over
November of last year.
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LOAN FIRMS AT STATE'S MERCY. ATTORNEY SAYS
Law Invalid, Giving Dictator Powers to Governor, He Charges. A demand that Indiana courts
“call a halt to legislation delegating dictatorial powers to State officials”
was made by an attorney in Superior}:
Court 5 today.
The demand was made by Asa J. Smith in arguing that the Indiana Petty Loan Act is unconstitutional. He represented the Financial Aid Corp., a loan compapy which brought suit recently against the State Department of Financial Institutions.
“Under the wide delegation of dictatorial powers to the State Department, any future Governor of Indiana could put out of business any loan company for personal political gain,” Mr. Smith charged. Could ‘Put Out of Business’
“This law would permit the State Department to ‘examine a loan firm to death,’ and put it out of business just because State officials might not like the color of someone’s necktie.” : * Mr. Smith further charged that the law is unconstitutional because it sets up no standards or limits and that the State Department could “fix an interest rate of 1000 per cent, if it wanted to.” William H. Thompson, attorney representing the State, contended the law was strictly constitutional “beyond a doubt.” | “The purpose of the Act specifically is to make available credit facilities for people to get money for emergencies and the necessities of life,” Mr. Thompson contended, “The Legislature has carefully protected the rights of the money lenders as well as the rights of the general public.”
He contended that the law limits
POLIS
White House: Is Overrun By F.D.R.’s
. WASHINGTON, Dec. 21 (U. P.).—Three Franklin D. Roosevelts slept at the White * House last. night. : 1. Franklin D. Roosevelt, President of the United States. 2. Frapklin D. Roosevelt Jr., his son. : 3. Franklin D. Roosevelt III, his grandson. Franklin Jr., his wife, the former Ethel du Pont, and their 5-month-old son came - from Charlottesville, Va., for the Christmas holidays. It was the first visit of Franklin D. III to the White House.
Franklin Jr. is a secondyear law student at the University of Virginia.
q
the powers of the State Department properly, and declared that sufficient standards are set up in the law to control abuses. «It was necessary that the Legislature give flexibility to the law in order to meet changing economic conditions,” Mr. “The power delegated to the State Department to investigate and examine loan firms is absolutely necessary to safeguard the public.” Mr. Thompson contended that Mr. Smith: could not argue constitutionality of the law because the Indiana Constitution does not grant authorities to the Legislature. “We must find in the Constitution a limitation on the Legislature in this case, and this has not been pointed out by Mr. Smith,” specifically,” said Mr. Thompson. The Financial Aid Corp. charged in its suit that it had been refused
a license because it refused to abide |;
by rules and regulations of the State Department of Financial Institu-
Thompson said. |?
REORGANIZATION OFI, A.C. ASKED
Petition to Form New Club And Realty Company Filed in U. S. Court.
A petition for reorganization of the bankrupt Indianapolis Athletic Club and the Indianapolis Athletic Club Realty Co. was filed in Pederal Court today by Howard S. Young, trustee in bankruptcy. The plan proposes the formation of a new realty company and also a new club under the Indiana General Not-for-Profit-Organiation Act of 1935. __It also proposes that the creditors
for supplies and services be full by the new club, A 99-year lease under which the holders are to be paid three and one-half per cent per year on their past-due rentals was ‘also proposed. Other proposals included: | That the new club is to assume all the old club’s debts and issue to the creditors revenue notes with a face value of 30 per cent of the amount due them. For the other 70 per cent the new
paid in
Rental under the new lease will be 27 per cent of the receipts, with not more than $15,000 nor less than $6000 being paid. Under the proposed 25-year lease, the reorganized club shall pay the new realty company a graduated percentage of the profits from 62 per cent to 10 per cent. ' An annual meeting is to be held, at which nine directors are to be elected. Three of these shall serve for one year, three for two years and three for a three-year period. Capitalization of the new com-
realty company shall issue.stock at | the rate of one share for each $100. |
pany will be by 11,000 shares of common stock at a par value of $1 each, Fach share is to carry one vote. . | All members of the club are to hold their present rights, excepting stock ownership in the new realty company. : i
ANDREWS APPOINTS SECOND WAGE BODY,
WASHINGTON, Dec. 21 (U.P.).~ Wage-Hour Administrator Elmer F, Andrews announced today appointment of Industry Committee No. 2 to ‘recommend a minimum wage schedule for more than 500,000 workers in certain interstate branches of the apparel industry. Louis E. Kirstein, Boston department store executive, and former chairman of the NRA'’s Industrial Advisory Board, will head the committee.
The Apparel Committee is the second appointed under the Act.
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~ year ago. _ i. Bank debits to individual account _ ifell 12 per cent in November, a de- _ “cline much greater than the usual ~ (seasonal amount. November debits {were 15 per cen? under. comparable “figures of last year and the. lowest _ for any November since 1934. ~ #% Although building activity, meas- ~ fired by the value of permits issued, " dipped slightly this month, total ~ construction for the 11 months of
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