The Bismarck Tribune Newspaper, November 14, 1929, Page 1

North Dakota’s Oldest Newspaper ESTABLISHED 1873 EXTREME GAINS OF ACTIVE ISSUES RUN $270 $20 PER SHAR Strong Financial Interests Are Determined to Support Leading Issues _ TAX ANNOUNCEMENT HELPS Powerful ‘Bear’ Pool Rumor Re- sponsible for Exchange De- mand on Members New York, Nov. 14.—()—Wall street cast aside its mantle of ere oday as prices of leading securit rallied $2 to $20 a share and closed practically at the top. It was the first sustained rally after a week of destructive liquidation which had wiped out billions of dollars in qouted values, and sent scores of stocks to prices which represented only a small fraction of their year’s high levels. Closing quotations on the curb were generally the highes of the day. Prices of some of the leading issues were: Ms Cities Service $28, up $3.50; Elec- tric Bond and Share $64, up $12.75; Goldman Sachs $39.50, up Leh- man Corporation $71, up Stand- ard of Indiana $49.75, up $1.25; Amer- fean Super Power, $20.25, up $5.25; Allied Power and Light $30.87, up $6.50; Trans-America, $44.62, up $8.62; Associated Gas and Electric $38, up $1; Niagara Hudson $13.87, up $1.87. ‘Total sales on the New York stock exchange for the abbreviated session were 6,569,360 shares, compared with 7,761,450 shares yesterday. ‘Total sales on the New York curb exchange were 2,267,500 shares, as against 2,779,650 yesterday. nolds THE BISMARCK TRIBUNE The Weather ~. | Generally fair tonight an@ BISMARCK, NORTH DAKOTA, THURSDAY, NOVEMBER 14, 1929 CONGRESS HAS BROKEN FAITH WITH FARMER, SAY PRODUCERS | _——— ' Successful Leader | Demand Passage of Tariff Giv- | ing Agriculture Same Pro- i tection as Industry BILL HAS ‘FAILED UTTERLY’ Point Out Senate Has Reduced H Promised 8-Cent Duty on Casein St. Paul, Nov. 14—(4)—The Ni tional Cooperative Milk Producers Federation today stood firmly be- hind its accusation that both major Political parties have broken faith with agriculture. A resolution adopted by the fed- eration warned “a tariff law shouid 80 written that farmers will have the same high degree of protection that BI wile te a other industries now enjoy. new church largely the result of leadership and initiative of Rev. will be the responsibility of any Pastor group, in or out of congress that pr: vents fulfillment of these promises,” the measure cautioned in charei: the pending tariff bjll has “failed terly to perform” the promises mad to agriculture in the last presidenti campaign. successful solicitation of $47,678 which fund of $6,000 will to begin im- Another resolution urges a tariff of eight cents a pound on casein; the senate on 513 cents. “Any- thing less than eight cents will not be ® fulfillment of party pledges.” Al) officers were reelected. They are Harry Hartke of Covington, Ky.. President; O. E. Hough, Hartford, |Conn., first vice president; John | Brandt, Litchfield, Minn., second vice president; F. P. Willits of Ward, Pa. | treasurer, and Charles W. Holman. ‘Washington, D. C., secretary. |. Twenty directors were reelected and | four new ones chosen. New directors San Francisco, «Nov. 14—(?)—An | B. Irwin, Richfield, Minn.; outline of the plan to form a great | Strong, Cleveland, O., and railroad system reaching i GREAT RAIL SYSTEM Commerce Commission Hears| the Northwest-Southwest : Cooperati | Dairy Co., of Cedar Rapids, tows, +e mietely | the Mexico City, Nov. 14—(#)—Six stones were used. Police finally gained control of the restored ore had been kill- ed and several wounded in a political ‘The presidential elections will be Sunday. f EL <i . . f i i § s i I : HE it H ALL - iy { RES : ; : if i i H E E E | i ! f i a .| hearing tomorrow. | going out and di be enacted at once and it should be} when there are votes to be dug up, Andrew J. “Bossy” Gillis believes in ligging for them. As the “fighting mayor” of Newburyport. Mass., “Bossy” spent part of his term in jail, but he won out for renomina- tion in the local primaries. This picture shows him while he tried to en- ATTRACTIVE BRUNET HELD FOR EXTORTING MONEY OF FINANCIER: Former Railway Magnate Is Ace cused of Being Father of Her 6-Year-Old Boy | New York, Nov. 14.—(#)—Accused | by the police of extorting more than | $170,000 from Nathan L. Amster.; Prominent financier, an attractive | brunette of 34 who charges Amster is | the father of her 6-year-old boy, is; under $5,000 bail today, Pending * « | Miss Olga N. Edwards was arrested | after Amster’s secretary, through ar- | rangement with the police, paid her $500 in marked bills. Mr. Amster, who is 60 years old, ; | married, and the father of two sons, | denied the paternity of the child, but | admitted paying the woman huge; i sums over the last six years, | “All this,” he said, “is due to my | natural big-heartedness, nothing else. {1 met Miss Edwards at a party in {New York. She told me a very sad story, and I felt sorry for her. “I gave her money. Finally her de- mands became so great that I felt I longer. When I cut down on my gifts she threatened me. Now it is just too ridiculous to say that I am the father of her child.” Mr. Amster at one time was chair- | Ws man of the board of directors of the Chicago, Rock Island & Pacific rail- Fond ie At poesech Lome ee Protective committee represent j minority of the Manhattan Railway D. Steuer, attorney for Amster, {said an agreement had been made with the woman three years ago she was to receive $6,000 a could not comply with them any | ber. “It is not too late yet. and heavy | trench himself in the voters’ favor—perhaps by demonstrating that he could call a spade a spade. Sr Big Game Hunter Gets Big Surprise , OO Green River! ‘Wyo., Nov. 14.—()— When Jack Evers, Green River big game hunter, appesired at the court house to claim a wolf bounty he got @ big surprise. The animal he had shot and skinned was the sheriff's pet KNUDSON CHOSEN LEGION COMMANDER . Lloyd Spetz Post Also Elects Other Officers for State * Convention Year Lloyd Spetz post, American Legion, ‘Wednesday evening elected the corps -Of officers into whose administration twill fall the work of planning the state convention of the Legion here, ; Next June, choosing Carl Knudtson as commander. Other selections were Charles F. Martin, vice commander; John Bow- ers, adjutant; Henry Hanson, re- elected finance offic William Schantz, reelected historian; Robert Dohn, reelected chaplain; Paul Cash- man, sergeant-at-arms; A. D. Mc- Kinnon, reelected executive commit- teeman, with L. V. Miller new mem- About 75 members attended the meeting. which included luncheon and cards. The installation will take place evening, November 27. Commander-elect Knudtson then will name standing committees. work of planning for the state con- vention, he said, Chicago, Nov. 14—(#)—With one | bullet from his revolver John Rosin- | given information before sky, Jr. shot his father and mother last’ night. The father was killed, the mother wounded. Police account of the affair up & revol- and fired as his sprang toward him. mother, rushing between the he arm. SENATE REFUSES 10 POSTPONE ACTION ON TARIFF UNTIL DEC. 9 Overriding Two Party Leaders, Also Reject Motion to Ad- journ November 23 WIGHT SESSIONS ARE VOTED |Harrison Leads in Putting Ag- ricultural Schedule Ahead of Sugar, Tobacco Washington, Nov. 14.—(4)—Despite warnings that half of its members rest and that it was “cruel” to keep members at work, the senate today by @ vote of 74 to 7 refused to postpone consideration of the tariff until De- cember 9. Senator Blease, Democrat. Carolina, who issued most warnings about the senators’ offered the motion. He. however, found only Bingham, Connecticut; Dale und Greene, Vermont; Phipps, ;Colorado, and Reed, Pennsylvania, Republicans, and Copeland, Demo- crat, New York. ready to join with him in voting for a rest. Immediately after this vote. the senate rejected a motion to adjourn on November 23 until the regular session beginning December 2. Refuse Week's Recess Overriding the two party leaders, the senate also refused by a vote of South of the health ginning December 2. ‘The motion was offered by Senator Simmons of North Carolina, Demo- cratic leader on the finance commit- tee, which is in charge of the tariff bill. He accused administration Re- publicans of “1 Politics” over tae recess by failure to offer an ad- it resolution. Both Senator Jones of Washington, acting Republican leader, and Sen- ator Walsh of Montana, acting Dem- cratic leader, supported Simmons’ move. Many regular Republicans and all western Republican Independents led by Senators Borah of Idaho, and «Continued on page eleven) |LEGION CONVENTION HAS COURT SEQUEL Sixteen Persons Accused of Pro- moting ‘Wide Open Town’ by Liquor Conspiracy Los Angeles. Noy. 14.—()—Sixteen on liquor conspiracy charges acct them of having promoted a “wide |o—_________________4 '| ‘Holding His Own’ OO James W. Good, secretary of war, was were sick and did not know it; that reported today to being “holding his | others were tired out and in need of | own” in a battle with death at Walter | Reed hospital in Washington, D. C., | where he was taken and operated |upon suddenly yesterday for acutc | appendicitis. Doctors stated today he \had enterad the — period of his illness. | (COOPERSTOWN FIRE ~ LEVELS 4 BUILDINGS ; Thousands of Dollars Damage : Done by Blaze Sweeping | Main Street Section | | Cooperstown, N. I Nov. 14.—(P)— | the business section at Cooperstown early this morning. The fire apparently started in the Peoples Cooperative store and spread to the Nelson Hardware store, Mar- | Quardt Palace of Sweets, Lindgron Hat shop and the Tufte law offices, all of which were destroyed. | ‘The Sad and Duffy law office and | the Newgard Studio on the upper floor of one building also were de- stroyed. Other buildings damaged to some extent were the Nelson Barber shop. J. D. Allen jewelry store, J. C. ‘Penney company, First National bank and the Red Owl store. The three latter places lost all their front win- dows due to the heat. The total amount of damage has not been determined but will reach far into the thousands. (CHARLES ANDERSON - ISPRESDING BISHOP Washington, Nov. 14—(®)—A dy- namic exponent of the separation of church and state—the Right Rever- jend Charles P. Anderson of Chicago— | today took office as presiding bishop The | persons were under indictment today jf the Episcopal church. For many years a dominant figure in the national organization of the PRICE FIVE CE FEDERAL INCOME TAX REDUCTION FORECAS Stock Prices Rally Sharply, Hold Advance i ‘Bossy’s’ Mud-Slinging Wins! | PER CENT IN NORMAL ‘with Hoover’s Approval, Secre: ; tary Mellon Will Recom- j mend Cut to Congress |Government Surpluses Foreseer i Due to Business and In- dustrial Prosperity Washington, Nov. 14.—()\—Tax reduction “before Christmas” was the promise made today by Chairman Hawley of the house ways and means committee which must initiate legislation to carry out the treasury proposal for a $160,000,000 revenue cut. Hayley said the suggested re- duction would cost the govern- ment only about $85,000,000 in the current fiscal year. In the next fiscal year, he said congress ; could reenact the resolution if | Fevenues should warrant, or con- | sider another plan of temporary | reduction. | Washington, Noy. 14.—(™—Con- sressional leaders spoke quickly today {to voice approval of the treasury pro- Posal for a $160,000,000 tax cut and simultaneously Secretary Mellon said announcement of the contemplated reduction had been decided upon idence with the disturbed condition in| the stock market. f | Mellon coupled this statement with {an expression that he had the ut-—e most confidence in the continued! prosperity in the country and that ibefore the tax reduction was decided" upon all elements entering into gov- | jernment income had been considered | 51 to 34 to take a week's recess before | Loss estimated at $75,000 was caused | thoroughly. the regular session of congress be- | by a fire which wiped out a part of | At the capitol leaders of both houses prepared to move swiftly toil draft legislation to carry out the pro- Posed reduction and today it was their intention to offer the necessary © resolution early in the December ses- sion. Flat One Per Cent Cut The measure must be introeducod first in the house. The treasury pro- | posal would provide for a flat one per cent cut in the normal individual and ~ corporation tax rate. Mellon in discussing the situation jsaid losses in the stock market, which (Might tend to reduce income of those j who had suffered in the market, had been given thorough consideration and that it was the decision of treas- ury experts that the continued pros- Perity of the country justified a tax reduction at this time. If the treasury had not had confi- | dence that the prosperity of the coun- jtry would continue, the tax reduction {would not have been recommended Mr. Mellon added. The treasury head said the ai ;nouncement of the proposed tax cut. {was not made yesterday because of, the condition of the market. Make No Estimate | ‘The treasury today declined to jmake public estimates of probable {income and expenditures for the cur rent fiscal year and next year. Congressional leaders in charge of open town” during the recent Amer- | church, the bishop of the Chicago |revenue legislation gave their tenta- ican Legion state convention at San Diego. ‘Those under indictment are San Diego business men and American ion convention committeemen. Muloch, confessed SE Muloch claimed to have for the sole right to sell Legion convention. Muloch charged that Au of protection’ deliver liquor at the convention. Mrs Connolly Rites Arranged for Friday if es diocese will serve the two years re- maining of the term of Bishop John |Gardner Murray of Maryland, died before the altar of St. James |chureh in Atlantic City, on Oct. 3. | Bishop Anderson’s election came on | the sixteenth ballot yesterday of the | house of bishops, and as his first of- ‘Towa State Students Blamed for ‘Painting’ | Des Moines, Iowa, Nov. 14—(?)— | i the front of the administra building at Drake University ; Morning. College | Started an investigation. Students j were highly incensed. charging that students of Iowa State college, with which Drake plays its annual "football game Saturday. nat tive approval to the reduction pro- Posal at a conference with Mellon late yesterday. Speaking for the senate Democrats, Senators Simmons of North Carolina and Harrison of Mississippi, an- nounced that their approval would have to be tentative, until they had conferred with colleagues. Chairman Smoot of the finance committee looked with full approval (Continued on page eleven) Coast Social Register Carries Hoover’s Name San Francisco, Nov. 14—()—The 1930 social register for San Francisco, just published, includes the name of the president of the United States, The names of Mr. and week ago and was merely a coincl-] GENERAL GUT OF ONE: TAX RATES PLANNED | EFFECTIVE ON 1929 INCOMESSEE ' i] }