I E. FORECAST WEATHER ENERALLY FRIDAY. FAIR TONIGHT TONIGHT Entered at NO. 86. 88 115, THE Home Delivered Second the Postoffice at Class Mail Matter.
York, SEVELT ADVOCATES CURRENCY EXPANSION ent, in Crisp 500-word Message, Asks New Congress to Authorize Reopening of All "Sound" Banks MONEY ISSUE WOULD BE BASED ON U. S. BONDS to Reorganize Also Is RequestedRese. ve Act eral adment Is Proposed CHIEFS PREDICT I ESSAGE OF MEASURE Etration of Gold and lisation -of Hoarding Objectives--Glass and Sponsor Measure rall March 9 -In words, President ENGTON, Frankosevelt urged the specially Econgress today to empower to open "sound" ediately reorganize other banks and currency expansion. were sped in both cements and house to do his bidding, comma! organization was were gathered in the galhear the presidential meswhile he remained at work hite House desk.
first task is to reopen all inks." he declared; and went Into his immediate emergency ask of the congress the imenactment of legislation givexecutive branch of the control over banks for section of depositors; authorwith to open such banks as nady been ascertained to be ad condition and other such rapidly as possible; and to reorganize and reopen aks as may be found to reorganization to put them on basis." (First Message Brief it of the president's message senate and house of repre- larch 3, banking operations United States ceased. To rethis time, the causes of this four banking system is unSuffice it to say that the has been compelled to for the protection of deand the business of the first. task is to reopen all anks. This is an essential to subsequent legislation wainst speculation with the depositors and other violaposition of trust. per that the first objectiveof banks for the reof business-may be acI ask of the congress the enactment of legislation the executive branch of the control over.
banks for action of depositors; authority Eto open such banks as have been ascertained to be in edition and other such banks as possible; and authority enize and reopen such banks be found to require reorganiput them on a sound basis. aendments to the federal act to provide for such adcurrency, adequately' seit may become necessary to meet all demands for and at the same time to this end without cured indebtedness the increasing ent of the United States. fuss not too strongly urge upon the clear necessity for action. A continuation of agulation of banking faciliathinkable. The passage of legislation will this and I trust within a short time will result in a reof business edition, it is my activities.
belief that Ration will only lift imall unwarranted Ficions in regards to doubts banks 100 per cent sound but mark the beginning of a ationship between the banks people members of this country. I of the new congress confident, the upon sponsibility them. which lies upon asible space of five days it short for us to formulate of measures to prevent the the evils of the not and should how- past. tity any delay not, this first step. in the moment I early shall re congress two other which I regard as.
of im. we With action taken urgency. can proceed of to the cona restoration. rounded program of ROOSEVELT' SKLIN 1933." OR BILL PROVIDES CONTROL OF GOLD Rosevelt's March 3 omitted to emergency congress bank bill out his program today of the for controlled formal banking currency under and resumphis regulasted ratify the would by president executive his and nation; authority over the de nation's for concentranerve hanks; cold supply in the provide for penalize controlled hoardthe was introduced currency. by Senator Robinson, of Arkansas, 'the was he was said today will sound and that it banks, both assure the national opening tomorrow that and are now provision, the extending of or other provides that.
presideclared emermilate transactions president, he foreign natitations, export, hoarding silver or also authorized to re- YORK Edition PHILADELPHIA, March 9 of the Philadelphia Dental Laboratories association are professionally worried, about, the national embargo on gold. Intent on saving some of the metal for city's teeth, members of the association met last night to plan for the emergency. Sales of the association's gold supplies will be limited, the amount on here is sufficient only for one month, officials said. A protest against too strict embargo also may be sent to President Roosevelt. DENTISTS CONCERNED Gold Sales Restricted Because of Embargo MOVIE STARS ACCEPT DEEP WAGE SLASHES Committee Acts as Clearing House For Industry's Financial Problems HOLLYWOOD, March: 9 (P), -With most movie stars accepting drastic salary slashes to keep the cameras turning, the Academy of Motion Picture and Sciences early today authorized creation of a committee of five to act as a clearing house for financial problems of the industry.
The committee will be formed of representatives of groups in the academy--the directors, actors, writers, technicians producers. Two of the groups named their representatives at once. William K. Howard will represent the directors and Howard J. Green- the writers.
Employes in the industry yesterday. joined almost 100 per cent in accepting salary reductions up to 50 per cent for a specified period of eight weeks to ald in tiding over the major producing companies duping, the paid banking artists voiced holidays. no protest to the reduction as far as could be learned although many players said they would first consult their or attorneys. Among those who formally expressed willingness to take slashes in their salary contracts were. Marie Dressler, Joan Crawford, Maurice Chevalier, Helen Twelvetrees, Sylvia Sidney, Richard Arlen, Wynne Gibson, Clive Brooks, John Spencer Tracy, Robert Montgomery and John Miljan.
Jack Oakie, Carole Lombard and Randolph Scott left the question up to their agents. Pro rata, cuts, executives said. will be asked of the luminaries who are paid by the picture. These include John Barrymore, Richard Barthelmess and Leslie Howard. Extras, who receive from $5 to $7.50 8 day for doing occasional "bits" or joining in crowd scenes, were not included in plans for lower pay.
Acceptance of the cuts were in accordance with the recommendation of the board of directors of the Academy of Motion Picture Arts and Sciences that this must be done or studios closed entirely. The only groups yet to heard from are members of the labor unions. Pat Casey. representing the Assoof Motion Picture Producers ciation Distributors in union wage matters, said their answer to the salary reductions ultimatum probably would be made known by tomorrow night. In telling contract people of the "eight-week plan," Albert Kauffman, executive at Paramount studies, declared a two-month survey of theaters throughout the country revealed theater receipts 41 per.
cent below normal and two-thirds off in the nine key cities. At Metro-Goldwyn Mayer studios meetings were held among contract players a and other workers with 100 cent approval A mass meeting at the R. K. Radio studios gave unanimous approval to the wage slash. Contract people at the Warner Brothers-First National studios agreed to the cut.
Later Jack La Warner said, "we have given 50 per cent cut in salary to all employes getting more than $50 a week has been accepted by stars, writers and studio personnel with the exception of a few stars now in the East. We expect to hear from them within two days." DEATHS March 8, 1933. at 11:35 MARTIN- at the York hos-ital. William Edward, infant son or James Walter and Jane Knopp Martin, aged 3 months and 15 days. Relatives and friends are invited to attend the funeral on Friday morning, March 10, at the W.
J. Boll Co. Funeral home, 252 South George street, at 11:30 o'clock. Proceed to Highland church, Street, where services will be held at o'clock. Interment in adjoining cemetery.
Remains can be viewed from this evening until time of funeral. March 8, at 2:12 p. at the York hospital, A Charles Franklin, Lau, husband of Theresia Lau, of South Main street. Spring Grove, aged 63 years, 11 months and 22 days. Relatives and friends are invited to attend the funeral services Saturday afternoon at Shaffer's 2.
funeral home, Spring Grove, at p. m. Interment in Leschey's cemetery. Body will lie in state at the funeral home Friday from 6. to 10 a.
m. Hanover papers please copy. 9-2t WEB a. On at the March home 8, of 1933, her at son-in- 9:15 law and Mr. and Mrs.
Cleveland Heaps, Street. Mrs. Salome A. Webb, widow of Joseph Webb, aged 83 years and 11 months. On March 8, 1933.
at 10 p. at his nome in Manheim township, Glen Rock R. John Rohrbaugh, aged 56 years, 6 months and 11 days. EDWARD ETZWEILER SON Funeral directors, 732 E. Market St.
Night service, dial 45135. Ambulance. HENRY SLEEGER, SONS Funeral directors, 830 E. Market St. C.
A. STRACK SON Funeral directors. 158 S. George St. SHEARER SHINDLER Funeral directora.
909-911 N. Duke St. Adv. A. director F.
KOLLER Funeral Market. St B. B. RITTNER Funeral director. 626 Market St Funeral A.
directors. SHIVES W. Market St. DISPATCH Circulation Books HITLER EXTENDS POWER OF REICH Bavaria Alone Retains Authority Over Police of State COMMUNISM IS BANNED BERLIN, March 9 -Chancellor Hitler's control over the free states and republic of the German federation was tightened today his minister of interior, Dr. Wilhelm Frick, appointed National Socialist federal police commissioners for Wuerttemberg, Baden, Saxony and Schaumber now is the only state retaining authority over its own police.
Pre-election warnings of Nazi leaders that a federal commissioner would take charge in Bavaria brought responses from Bavarian Populists that any such would be resisted by force. Since Hitler's victory at the polls Sunday, however, plans were announced to include Nazi representation in the Bavarian coalition government. Prussia, by far the largest state, was the first brought under federal control after Hitler's accession, with Vice Chancellor Franz Von Papen taking control from the Prussian premier and before the election 60,000 Nazis and Steel Helmet war veterans were enrolled as auxiliary Prussian police. The Rightist press commented indignantly today on the situation Austria, where Chancellor Dolfuss use has assumed dictatorial powers, immediately after nation- wide demonstrations for Hitler and union with at Germany. The Voelischer Beobachter, Hitler's newspaper, referred to the establishment of -the dictatorship as a "cold Centrist putsch." The Austrian measures, it said, are designed solely against national Socialism.
The Kreuz Zeitung said Chancellor Dollfuss is setting up a dictatorship against all Germany. Communists, whose activities have been stamped out by rigid government measures, were faced with a new warning today from Count Hein rich Helldorff, leader of Berlin National Socialists. "Three Communists must die for each storm trooper murdered in Berlin and the province of Brandenburg," he said. Thousands of Berlin school children, celebrating "The Nation's Awakening," marched through the streets yesterday singing National Socialists songs, and assailing Jews and Communists. Many wore Nazi uniforms: GERMAN ARMS THREAT DISTURBS NEIGHBORS PARIS, March 9 fears that Germany may announce that it intends to rearm are likely to be one or the principal topics of the talks, here, today, between Premier MacDonald and Foreign Secretary Sir John Simon, of England, and Premier Daladier, of France.
The French seek to forestall such a possibility by big power pronouncement against Germany. The British statesmen will meet Premier Daladier for the first time since the formation of the new French government. They will leave tonight for Geneva for disarmament conference discussions. ish leaders are seeking a five-power It was understood, here, the Britconference in Geneva to wind up the disarmament situation. A strong joint effort to obtain some practical results at Geneva are expected to result from their conversations with M.
Daladier. Other international problems are likely to be discussed but the disarmament question predominates. A belief in British quarters that the disarmament conference is threatened with failure is the reason MacDonald and Simon decided to g0 to Geneva, a London dispatch said. German rearmament would be in violation of the Treaty of Versailles restrictions which limit Germany's army to 100,000 men and its navy to a purely coast defense force with a personnel of 15,000. After the accession of Chancellor Hitler in Germany, his foreign minister, Baron Von Neurath said Germany's "patience was exhausted," because the Geneva conference has discussed "much too long and exciusively" France's security wishes.
He said "Germany may soon an be compelled to express its wishes "more clearly." AUSTRIAN FOLLOWERS OF HITLER ENCOURAGED VIENNA, March 9 Austrian dictatorship was viewed today by the fast growing Hitler as bringing the day of man union closer to hand. The Socialist party voiced a threat of civil war while the National So scoffed at any by Dictator- Englebert Doll fuss to suppress their demonstrations. Whatever may be the motive of the government, Alfred Frauenfeld, the Nazi leader, declared its action, in establishing a dictatorship, was certain to help the Hitlerites. The Socialist party, cut off from power, although it had the largest representation in the suspended par liament, warned that it would use constitutional means at first to reestablish parliament but, unless suecess was achieved quickly, other means would be used. In an appeal to its membership, it said: "the hour of decision may you very soon." The goal of the Hitterites.
Frauenfeld said, was a common foreign policy with Germany. The Socialist majority has seized every opportunity to expose and attack any, indications of a Fascist alliance of Germany, Hungary, Austria and Italy, reviving the triple alliance of pre-war years. Chancellor Dollfuss's Christian Social party has been the target of the Socialists whenever it showed TODAY'S NEWS TODAY Always Open YORK, THURSDAY GORDON ISSUES NEW BANK RULE: Institutions, Under Sardoni Bill, Must Separate Deposits NEW ACCOUNTS REQUIRED HARRISBURG, March 9 The department of banking today issued orders to prevent a flow of to banks under the deposits withdrawal ep restriction bill. Additional regulations imposed by Dr. William D.
Gordon, secretary of banks, prohibit banks authorized to restrict withdrawals from accepting money from depositors with accounts in other institutions. The Sordoni bill and Dr. Gordon's regulations based on it require banks accepting the plan to place all new deposits separate account, subject to withdrawal in full at any time. Only deposits on when the bank is authorized by secretary to bathe limit withdrawals are subject to restriction. The purpose is to insure new deposits in these institutions.
The department said the new regulations prevent an unnecessary strain on other banks from withdrawal of deposits to be placed in the unrestricted accounts of banks using the new plan. Thirteen state. pervised and some national banks have received permisgion to adopt the plan which becomes operative again at the end of the national banking holiday. Dr. Gordon's order today permits banks accepting the plan to receive deposits only from three classes of depositors: "First, those who have deposit accounts on the banks of such institutions during the period of 30.
days prior to their acceptance of the plan with the authorization of the secretary of banking. "Second, those who have made new deposits in such institutions following their acceptance of the plan and prior to the close of business Wednesday, March 8, 1933. "Third, those who at the present have no deposits in any other institution." The secretary's statement said the new restrictions may be waived upon his written order "in such localities where adequate banking facilities may not otherwise exist." WEAK SPOT IN BANK SYSTEM IS EXPOSED PHILADELPHIA, March 9 O. Howard Wolfe, president of the Pennsylvania Bankers' association, says "neither the Glass bill, which will come before the senate again. at the special session of congress, nor the proposed new state banking code, corrects the chief weakness of the American banking system." In an address, before the Philadelphia chapter of the American Institute of Banking, Wolfe said last night the "fundamental weakness is the lack of any restriction on those who may become bankers." "It will still be possible for any five persons, who have the required capital, to start a bank, even though they have no experience whatever in banking, one of the most highly specialized branches of modern busihe said.
"It is this condition which has caused much of our present difficulty." He added, however, that the proposed state code "has some good features and some which will arouse controversy." PLATINUM PRICE SOARS Sharp Rise Is Attributed to Banking Holiday NEW YORK. March 9 sharp rise in the price of platinum has been attributed to the bank holiday. Because of the embargo on gold. a speculative demand for platinum forced the price upward from $21 a troy ounce to a point where bids as high as $30 were reported. Dental laboratories face a possible gold shortage, it was reported, as the United States assay office declined to sell gold for any purpose.
Commercial dealers in gold were investigating orders to forestall hoarding. Some dentists said they might have to use palladium and other substitutes for gold in making plates, and for fine work. NEW "MARCH" PLANNED Labor Delegations Will "Invade" State Capital PHILADELPHIA, March 9 Another "march on Harrisburg," this time by delegations of, organized labor is planned to demand speedy and satisfactory action on legislation sponsored by the labor movement. John Edelman, secretary of the emergency unemployment committee of the State Federation of Labor, said the march was assured with adoption of a resolution calling for the demonstration by the central labor union and allied groups. The "march" would be held within the next 10 days, if plans mature, Edelman said.
IN MEMORIAM loving memory of our dear father and husband, Ernest Allen. who died one year ago today, March 9, 1932. "Loving and kind in all his ways, Upright and just to the end of his days; Sincere and true, in his heart and mind. Beautiful memories he left behind." By his WIFE and DAUGHTER. IN MEMORIAM FRANK.
To the memory of our dear husband and father, John W. Frank, who died March 9, 1924. His memory is as today, As in the hour he passed away. Loved and sadly missed by WIFE MRS. JOHN FRANK and CHILDREN.
COAL OF QUALITY Pocahontas Stove 50 Georges Creek, all lump 7.50 Peerless 7.001 Red Dragon Egg or Lump 7.00 Somerset 6 00 Economy Pea 8.50 Phone 2341. Burn Anderson' d17-tu. Coal. -tr EVENING, MARCH 9, 1933. FISHERMEN RESCUED Score of Men Are Taken From Ice Floes ASHLAND, March 9 Rescued from drifting ice floes headed toward the open waters of Lake Superior, more than a score of fishermen of the Madeline Island their community, northline, here, resumed daily unmindful their escape.
Two of George La Rocque and Ollie Sandstrom, were blown for 50 miles across the bay on large block of ice in a blinding snow storm, late yesterday. were saved and landed at Little Girl Point, Mich. Three dogs, standing on the huge ice floe with La Roque and Sandstrom, perished when they slipped through large cracks in the ice opened by the waves. A light dog sled and fishing equipment also were missing when the two men were sighted and taken to shore in waiting boats. Smaller boats used by Eddie Madosh, John Bennett and others in taking the larger group of the marooned men ashore, were forced to abandon the search because of the strong wind and treacherous ice fields.
The breakup of the ice extended along nearly 100 miles of shore line, sending residents of a dozen communities to the shore on the lookout for unfortunate fishermen who might have been carried out into the lake, meth were lives of endangered more than late 100 yesterday fisherat Oshkosh, when the strong northwest wind suddenly loosened a large block of ice in Lake Winnebago. No casualties were reported, but several automobiles in which the fishermen had ventured on the ice was stranded. CROWDS VIEW BODY OF MAYOR CERMAK Citizens of Chicago Pay Respects at Bier of Democratic Leader CHICAGO, 9 of Chicago 'today continued to pay their respects at the bier of their assassinated mayor, Anton J. Cermak. Surging crowds greeted the body on its arrival yesterday from Miami, and throughout the day and evening admirers of the late Democratic leader passed through the residence at the rate of 2,000 an hour.
Today's program called for removal of the body to City hall, which for 80 many years was the stage of Cermak's career. There for another day it was to rest upon a catafalque draped in purple and black velvet that other thousands might view it. The -day observance was to reach its height Friday in the huge Chicago Stadium, where ministers three faiths and Gov. Henry Horner are to eulogize the man. Col.
C. B. Hodges already has arrived in the city a8 the personal representative of the president and the national government. Mayors of other cities, including Frank Hague, of Jersey City, close friend of Cermak, are expected 1 to attend. Tomorrow night Democrats said they planned to pause for a few hours in their mourning to meet with Governor Horner to discuss the task of filling the mayor's chair.
Final decision, one report said, would be left to the Democratic council in an effort to preserve the unity of the party. ZANGARA PLEADS GUILTY Assassin Arraigned For Murder of Cermak MIAMI, March 9 Giuseppe Zangara, today, pleaded guilty to charges of murdering Mayor Anton J. Cermak of Chicago when his attempt to assassinate President Roosevelt, here, Feb, 15, failed. Zangara's plea was entered by Louis F. Twyman, chief of defense counsel, after Zangara himself had said, in response to a query as to guilt by State Attorney N.
Vernon Hawthorne: "I want to kill the I want to kill all kings and presidents." Zangara apparently started on lengthy discourse but was halted Twyman. The latter said his clien' would plead guilty to the first count of an indictment returned Monday by a special convened grand jury if the second count was dropped. The first count charged Zangara Mayor Cermak as he tried kill the president, The seckilling ond charge premeditated murder of Cermak. CURTIS TO PRACTICE Ex- vice President Seeks Admittance to District Bar WASHINGTON, March 9 (P). Charles Curtis, attorney, sought admittance to the district bar today and will resume law practice across town from the vice president's office he vacated only a few days ago.
His admission to practice before the court of appeals of the District of Columbia is to be followed, probably next Monday, by submission of a motion of his pending application for admission to the bar of the district supreme court. that he had been prosecuting atCurtis explained in his application torney in Kansas and that he was admitted to practice before the United States supreme court in 1904. THEATER IS BOMBED Slight Damage Is Caused in Projection Booth NEW YORK, March 9 concealed bomb shattered the projection: booth. at the Globe theater, Forty-sixth street and Broadway, early today. The explosion occurred at 2:40 time when the theater was and since no fire followed the blast, the damage was Police comparatively of the slight.
West Forty -seventh street station said. they found a long fuse near the booth and declared the explosive was "time" bomb. PRICE 2 CENTS-10 Ex-Mayor Walker Sued For Divorce; Desertion Charged MIAMI, March 9 Mrs. Janet Allen Walker today sued James J. Walker, former mayor of New York city, for divorce in the circuit court of Dade county.
She alleged desertion. signs of favoring such an alliance. A. bid for Christian social support of the movement for the uniting of Germany and Austria was made by Frauenfeld in declaring the willingness of the Nazis to join in Rightist coalition against the Socialists. He declared the dictatorship must have popular support to survive and the easiest way to decide this was through new elections.
It has been more than two years since a parliamentary election, when the Nazis gained only eight seats, but last year they made great gains in the vincial elections. BOETTCHER BABY BORN Police Say Case Against Kidnapers Is Ironclad DENVER, March 3 The police case against six suspects in the Charles 2nd, kidnaping has become "ironclad," Chief of Police Albert T. Clark announced today. officers on trail of six The chief also predicted, that not yet in custody would effect their capture before the day had passed. The two sought are Verne Sankey and Gordon Elkhorn believed by Clark to be fleeing into Canada.
Two women and two men are in jail here. Federal kidnaping charges have been filed against all six. Information which caused Chief Clark to say he had an "ironclad" case, he asserted, came from Arthur Youngberg, alleged member of the kidnap band, captured at a ranch bouge allegedly owned by Sankey near Chamberlain, S. D. Police said Youngberg was the guard who watched, the basement 31-year-old at the wealthy Sankey ranch during the 16-day period in which negotiations for $60,000 ransom were completed.
Youngberg and Boettcher were brought together in the chief's office just after Boettcher had come from a hospital where his wife had birth to a baby daughter, their second child. "Boettcher closed his eyes tight when I asked Youngberg questions," Clark said describing the scene, "When he heard Youngberg's voice, he lunged forward as if to throttle him, but was restrained by another police officer and myself." Clark explained that during his long captivity Boettcher WAS blindfolded but knew his captors by their voices. He said one of the men spoke with an- accept. Youngberg's English has a decided foreign accent. "Charlie was nice fellow," Clark quoted Youngberg as saying.
"We got along swell. I wasn't in on the kidnaping at all. I just went to work for Sankey on his ranch last November. "One night, he and Elkhorn brought a young fellow I got to know as Charlie to the place and put him in the basement. They asked me to look after him and did.
Then they came and took him away and a day or 80 later they came back. I didn't see any of the $60,000 ransom. They went away again and told me they were coming back. That's all I know about it." While the police were questioning Youngberg, here, the trail of Sanky and Elkhorn led to Minneapolis where it was learned the two had left a hotel Tuesday night. Operatives of the Minnesota crime bureau joined in the search.
Along the International line, Canadian police increased their vigilance. KIDNAPER QUESTIONED REPORTER ABOUT CASE DENVER, March 9 (P). Gene Cervi, newspaper reporter who worked long hours on the Boettcher kidnaping story, today told of a conversation he had with man at soda fountain during time when all clues appeared to have faded. "Anything," asked that man with cordiality, "new on the Boettcher case?" "Nope," replied Cervi. "Where do you suppose those guys are?" the stranger continued.
"If I knew." replied Cervi, becom- ing irritated, "I'd go after 'em." "What are you fellows going to say about the case tomorrow?" "Why," the reporter counterqueried, "don't you buy a paper and find out?" Yesterday Cervi was sent to the police station to interview Carl W. Pearce, who faces a federal kidnap: ing charge in the Boettcher case. "Howdy, kid," said Pearce. He was the soda fountain stranger. LOOMIS IN HOSPITAL Railroad President Stricken While on Inspection Trip SAYRE, March 9 (P).
-The Robert Packer hospital today said that the condition of E. E. Loomis, "seems satisfactory." Loomis, president of the Lehigh Valley railroad, underwent an operation for. appendicitis yesterday after being stricken while on an inspection trip. The morning bulletin said: "Mr.
Loomis had a comfortable night and his condition seems satisfactory. He is as good as can be expected this morning." Staff physicians said they would be "anxious" about him for a day or two, but that no complications had developed, YOUTH KILLS TWO MEN GENESEE, March Alfred McGinns and Miles McHale, both about 60 years old, were killed and Frank McGinns, 13 years old, criically wounded with a shotgun at the McGinns' farm house, early today. John McGinns, 17 years old, charged by police with fleeing in a stolen automobile after the shooting, is sought. Chief of Police S. K.
Hurd said the boy was last seen in Wellsville, N. where he stopped get gasoline. OKLAHOMA Sturm, Oklahoma City clothier, gave $101 in federal currency for $100 of Oklahoma City's local scrip. He did it, he said. to express "the confidence of Main street In scrip." CENTS PER WEEK CIVILIANS TRAIL JAPANESE ARMY Manchukuoan Officials Take Control of Towns in Jehol PROPAGANDISTS ARE BUSY Pinchot Regrets Lack of Authority to Dismiss King HARRISBURG, March 009 Governor Pinchot today asserted that "Dr.
King's usefulness as chairman of the public service commission is at end." He expressed regret that he can not remove him from the commission. The governor's statement is his first comment on the testimony of Dr, Clyde L. King, chairman of the public service commission, given before the senate utility investigating committee two weeks ago and reiterated in a public letter Tuesday. Asserting that this testimony spoke for itself, Oliver K. Eaton, Pittsburgh, resigned counsel of the investigating committee yesterday said that Dr.
King should resign. Dr. King declined to be drawn into the controversy, referring only to his quire any person engaged in any such transactions to furnish under oath complete information relative to the transaction and books or contracts. A penalty of $10,000 fine or 10 years' imprisonment is provided for violations. The emergency bill would permit banks to get circulating notes from the federal reserve system in return for United States obligations, notes, drafts, bills of exchange and bankers acceptances.
be given the banks to the full value of the United States obligations and 90 per cent of the sound value of the notes, drafts, bills of and bankers acceptances. Notes would be receivable at par in all parts of the United States "and for the same purposes as are national bank notes" and would be redeemable in lawful money. They would be subject to the same tax as is provided by law for circulating notes of national banks secured by two per cent bonds. The bill provides that in "exceptional circurestances" when member banks have no further eligible assets, the reserve bank may make advances to them on time or demand notes secured to' the satisfaction of the reserve bank. An appropriation of $2,000,000 is carried in the bill be expended by the president in carrying out its provisions.
Modifying a law passed by congress at the last session, the bill would authorize reserve banks to make direct loans to individuals, partnerships or corporations with. permission of the reserve board on promissory notes 'secured direct obligations of the United States. DRASTIC BANK REFORM PROPOSED BY ALDRICH YORK, March 9 toward Wideeyed Wall street looked Washington today and pondered the legislative chances of Winthrop Aldrich's plan to change the set in the financial heart of the western world. Aldrich, who is head of the Chase National bank, the largest in the world, and is brother-in-law to John D. Rockefeller, proposed last night the most drastic program of banking reform that ever has emanated from Wall street.
Not only would it divorce deposit and investment banking completely, but it would go far beyond even the Glass bill, which hitherto has met much disfavor in Wall street. One effect would be to curb severely the activities and power of leading private banking firms, notably J. P. Morgan and company. It would forbid private bankers to take deposits or to be directors of banks of deposit.
Members of the Morgan firm are directors of some of the largest commercial banks of the country and important deposits, foreign domestic. There was a feeling in some parts of Wall street today that congress would give close consideration to Aldrich proposals. They adopted the spirit of the Glass bill, which advocates the separation of banks and security amliates, and extended it further. The program, designed to rid commercial banking of any "spirit of speculation," astonished many in Wall street. It involves the inclusion of all commercial banks in the federal reserve system.
The New York Times pointed out the' suggested program would curb the power of the large private investment banking firms in three respects: First, by depriving these firms of the right to accept deposits, it would make it necessary for the private banks to obtain credit from the commercial banks in financing their security flotation. Second, by doing away with the security affiliates of the commercial banks, the proposed regulations would take from the private, banks outlets for the syndicating of their securities which nave in the past been of great importance. Third, by removing all private bankers from their positions as directors of the commercial banks, the anges would greatly reduce the prestige, influence and "inside information" available to the partners of investment houses at present. Aldrich, a comparative newcomer to the banking field, made his proposals in connection with announcement that the Chase National bank would divorce its security amliate, the Chase Securitics corporation. Similar steps are being taken by the National City bank.
The Aldrich plan vould necessitate further changes by his own bank. For instance, among its directors are several members of private banking (Continued on Page Eleven) 625 INSURE Roosevelt Ave. Tel. 44186. WITH.
JIM HOOVER -tr (By the Associated Press) Following close on the heels of Japanese and Manchukuoan troops, who have swarmed over Jehol province the last 15 days, Manchukuoan rulership is now being established in the territory. Manchukuoan officials have taken over control of villages and cities deserted by the Chinese in the face of the campaign which has carried the invaders as far as the Great Wall separating the province from China proper. Immediately following the fighting forces came "publicity wagons" and propagandist speakers who extulled the advantages of Manchukuo. The Manchukuoan officials who took over the government of the cities and villages were not far behind, Over a stretch of 250 miles, there were many deserted villages, with 95 per cent of the buildings unoceupied, and with only aged persons and children thereabouts. Meanwhile reports from Chinchow, Manchuria, told of an unsuccessful attempt, by reinforced Chinese troops, to retake Kcpiekoc pass through the Great Wall.
They beaten back by the infantry brigade of Major General Tadashi Kawahara. An engagement, south of Wukungfu, the Tokyo dispatches said, resulted in 25 Japanese killed and 39 wounded. The skirmish occurred during "mopping operations of Major General Heipiro Hattori, CHINGCHOW, Manchuria, March tried today to recapture Pupeikow. to Chinese troops the pass in the Great Wall of China on the road from Jehol city to Pelping. Japanese said the Chinese were easily repulsed by the Japanese infantry, which occupied the pass at noon yesterday after a battle.
MANCHUKUO PICTURED AS EARTHLY PARADISE Japanese army), March 9 250- mile journey across Jehol, with the advancing Japanese force, during the past week, disclosed a series of practically deserted villages with 95 per cent of the buildings shuttered and only the aged and children visible. Closely in the wake of the viotorlous army were Manchukuo'8 "publicity wagons," loaded with quaint, gaudy posters proclaiming the Japanese-advised government of Manchukuo an earthly paradise. City walls were placarded while troops still were marching in and professional Chinese-speaking propagandists harangued the remaining populace, urging it to support Manchukuo and promising liberation from what was termed the corruption and exactions of Chinese war lords. The conduct of the Japanese was exemplary. They paid for whatever they used and were billeted only in unoccupied buildings.
The lightning Japanese drive scattered the Chinese armed bands throughout countryside and it may take months to eradicate this menace. Behind the troops came groups of Manchukuo officials, taking over offices in the towns and citles deserted by the Chinese. The utmost confusion prevails in the administration of the conquered territory which is to be a state in the year-old Manchurial nation. The Japanese drive was completed in the nick of time. Roads and rivers already are thawing and shortly they will be impassable.
Two American flags, over a mission at Lingyuan and a nearby underground shelter, possibly saved an American missionary and a number of Chinese children from being victims of the Japanese aerial attack on that town last week. The missionary, Miss Harriet F. Minns, of Buffalo, N. and two British co- workers made the flags by hand. They marched the Chinese children to the shelter.
Japanese bombing planes spared the mission and shelter. Miss Minns was the only American in Jehol province. JEHOL CITY, Jehol, (with the KING IS CRITICIZED Eaton Says P. S. C.
Chief Should Be Removed HARRISBURG, March 9 Speculation as to the next move in the controversy which has left the senate utilities Investigating, committee without rife today in political circles. One of the questions most trequently heard was whether Dr. Clyde L. King, chairman of the public service commission, would be asked by Governor Pinchot to resign his post. Oliver K.
Eaton, Pittsburgh attorney, who resigned as chief counsel for the committee, two days ago, insisted, last night, that he is "through" and said it was his persocal opinion that Dr. King should "be out." Eaton said his opinion Was based on King's testimony before the committee, two weeks ago, which, he said, "showed his leanings." Dr. King, answering Eaton's question as to what the commission was doing with annual reports of utilitis in the way of getting rate reductions, said such reports were of no value in arriving at rate bases. Dr. King declined to comment on Faton's statement and the latter said that, despite the feeling of members of the committee that he was wrong in resigning, he is deftnitely "through." He also said he would take no action to have Dr.
King removed. RENT A CAR. DRIVE YOURSELF Deardort Drive Yourselt, 10 E. King. Adv.
116-tta-t?.
