The Bismarck Tribune Newspaper, May 4, 1931, Page 3

PRESIDENT URGES _NRED OF CUTTING LAND ARMAMENTS Hoover Says 5,500,000 Men Are Under Arms, 20,000,000 in Reserve in U. S. ‘Washington, May 4.—(P}—President Hoover Monday entreated deny men from many nations to aid the furtherance of plans for reductions in Jand armament. Addressing the first session of thte International Chamber of Commerce convention, he directed attention to naval ‘imitation agreements, Then he added that within a short time the principal nations of the world will Meet to discuss the “broad questions of reduction in land armament” and ‘urged businessmen to “insist that this problem shall be met with sincerity, courage and constructive action.” for world economic rehabilitation. He interpreted the annual world expedi- ture of $5,000,000,000 on arms as not only a threat to business recuperation but “a serious contribution to all forms of instability, whether social, Political or economic.” * ‘While the United States is not di- rectly concerned about land force de- creases, Mr. Hoover said, “we have, however, a vast indirect interest in greater assurance of peace, order and the increased economic prosperity of other nations.” The text of the president’s speech follows: “I bid_you welcome to the United States. You have come from many lands and at a time of grave respon- sibilities at home to participate in discussions that will contribute to world advancement. The consider- ation and discussion of world-wide economic problems and of the eco- nomic relations between nations by men who have had to deal with the results of economic forces can be most helpful to world understanding and world cooperation in their solution. Cites Interdependence ‘It is needless for me to emphasize the high degree of economic interae- pendence of the world—we require no more emphatic demonstration than the present world-wide depression. Although the United States enjoys a far greater economic independgnce than any other large country, yet we have been gravely affected by world forces. “The present depression is com- parable in its extreme depths and its extent only to those who have fol- lowed about the same distance after the former great wars in modern his- tory. This depression is no doubt con- tributed to by many very important,| immediate, economic causes to which each of you will give different weight, but I believe you will all agree with me that the destruction of life and property, the great tax burdens, and the social and political instability which resulted from the great war have had large responsibility in its “Over three-quarters of the com- mercially important population of the world has been in a state of social and political upheaval at some time even during the last three years. Al- though some secondary part of this political instability may have been the result of immediate economic causes, we can not ignore the malign inheri- tance from the great war. These po- litical and social disturbances neces- garily undermine that confidence on which economic life, both domestic and international, must thrive. Emphasize Expenditures “This is not an occasion for review of the action and interaction of such @ multitude of forces, but I do wish to give emphasis to one of these war inheritances in which international cooperation can effect a major accom- plishment in reducing the tax burdens of the world, removing @ primary cause of unrest and establishing greater confidence for the long future. That is the limitation and reduction of armament.\ “The world expenditure on all arms’ is now nearly five billions of dollars dence of progress in the world demand. for relief and for peace. Of all pro- posals for the economic rehabilitation of the world, I know of none which Compares in necessity or importance with the successful result of that con- ference. “The United States has a less direct interest in land armament reduction than any of the large nations because our forces have been already demobil- ized and reduced more than all others. ‘We have, however, a vast indirect in- terest in greater assurance of peace, order. and the increased economic Prosperity of other nations. It is within the power of business men of the world to insist that this problem shall be met with sincerity, courage, and constructive action. It is within the power of statesmen to give i» the world a great assurance for the fu- ture and a great moral victory for humanity.” “I wish to you a successful confer- ence, I have confidence that it will ‘be fruitful of progress.” George F. Baker, Third Richest Man In U. S., Succumbs (Continued from page one) acquired one of the oddest reputa- tions—that for silence—ever asso- lated with one of the great captains of American finance and industry. Because of his aversion to being in- terviewed and talking for publica- tion, Baker became known as “the Sphinx of Wall Street.” Although one of the outstanding figures in the financial and transportation develop- ment of this country, it was not until recent years, when associates on sev- eral occasions paid him tribute, that the public generally began to learn of him. Up to that time less was known personally of the aged banker than of many men whose standing in the business world did not begin to compare with his importance. Natural modesty and inherent re- ticence kept veiled ‘the details of Baker's carly life and to all, except his immediate associates in the Wall Street district, his extensive financial operations were unknown. Biograph- ers found it difficult to obtain infor- mation concerning him with the re- sult that American biographical works contain only the most meager details of his life. It remained for J. P. Morgan and Charles E. Mitchell, president of the National City bank, to tell at the an- nual banquet of the New York State: Bankers’ association, Jan. 11, 1925, more details of the life of the aged banker than had ever before been given to the public. The event was turned into a testimonial dinner with Baker as the guest of honor. Morgan disclosed for the first time the importance of Baker's service. to the country in the panic of 1907, without, however, giving the details, by relating how his father, the late J. Pierpont Morgan, told him the story of those anxious and agitated days. Summing up what had Mr. Baker. He is always ready to do his part—and more.” Began As Clerk Baker began his banking career at Albany, N. ¥. He then became a clerk in the state banking depart- ment for seven years. It was while there in the early part of 1863 that Salmon P. Chase, then secretary of the treasury, conceived the idea of selling bonds through the banks and in addition forming banks which could pledge bonds themselves for the circulation of currency up to 90 per cent of the value thereof. That was the start of the national bank- ing system. ‘This development greatly interest- ed Baker and he talked it over with Mr. Thompson, then one of the finan- cial leaders in New York. The latter decided to open one of these new na- tional banks and invited Baker to become teller, the bank being formed with a capital of $200,000. Thompson offered Baker all the stock he want- ed and agreed to carry it for him, but Baker refused to accept more than chase. His first investment was 30 shares of the bank’s stock. yearly, an increase of about 70 per! pec! cent over that previous to the great war. We stand today with nearly 5,500,000 men actively under arms and 20,000,000 more in reserve. These vast forces, greatly exceeding those of the pre-war period, still are to be de- mobilized, even though 12 years have passed since the Armistice was signed, because of fear and inability of na- tions to cooperate in mutual reduc- tions, Yet we are all signatories to the Kellogg-Briand pact by which we have renounced war as an instrument of national policy and agreed to set- tle all controversies by pacific means. Surely with this understanding, the self-defense of nations could be as- sured with proportionately far less military force than these. “This vast armament continues not only a burden upon the economic re- cuperation of the world, but, of even more consequence, the constant threats and fears which arise from it are a serious contribution to all forms of instability, whether social, political, or economic. “Endeavor as we must in support of of _ international every economic cooperation that is just to, our respective peoples, yet we must recognize that reduction of his gigan- the waste of competition in military es- tablishments is in the ie of an ties of this question. No one would: suggest that either national defense’ be abandoned nor that so great Baker became prominent figure and the First Na: tional bank a powerful factor in American financial affairs. The late J. Pierpont Morgan began to seek his counsel and James J. Hill called up- on him to aid in the expansion of the ‘whose ge He dd Tt was said that the on fortunes which exceeded that THE er were those of John D. Rockefeller and Henry Ford. Baker was born March 27, 1840, at Troy, N. ¥., the son of George E. ana Florence Baker. When he was eight years old his family moved to Brook- lyn, his father engaging in the shoe business in New York. Later the family moved to Williamsburg, where the son went to school., He finished his education at Se’ university, a boarding school at Florida, N. Y. Upon finishing his schooling, Baker returned to Albany. His father had been elected to the state legisiature, and, after serving as private secretary to William Seward at Washington, went back to Albany to fill a similiar position to Governor Myron RB. Clark. The son first went to work in a gro- cery store, then in the small bank and in 1858 was appointed a clerk in the state banking department. As a young man, Baker took an in- terest in acquatic sports and won the sculling championship of the Upper Hudson. In 1861, just as the Civil War was commencing, Baker, who two years before had been in a railway accident became Morgan of New York. After six months, however, he returned to the banking department, of which he be- came known as the best informed clerk. While still a young man, Baker married Miss Florence Tucker Baker. who died several years ago. Oue son, George F. Baker, Jr., was born of the marriage. TWO ARE HURT IN MANDAN COLLISION Miss Marian Staley and Miss Marie Lemohn, Bismarck, Receive Minor Injuries Miss Marian Staley, 701 Sixth 8t., Bismarck, received a severe bruise above her left eye and Miss Marie Lemohn, Rose Apartments, Bismarck, suffered a slight scalp wound in an ‘They were riding in an automobile with Ernest Stoudt, who was driving, and A. A. Mayer, both of Bismarck, waen it collided with one driven by Freddie ad @ student in Mandan ‘swung out in an effort to go them but collided with Lions Club Raps Parallel Parking System for City (Continued from page one) @o away with all-day parking and that many men would merely move their cars every two hours. W. Ayers and W. B. Couch also joined in the attack on the new ordinance. Miss Marie Lemohn gave two piano solos. W. D. Fisher, Mitchell, 8. D., talked Abraham Lincoln offers # $10,000,000 proposi- tion if properly developed and adver- tised. He said residents of Belle his accumulated savings would pur-| be that city Tuesday night. club's clean-up committee an- nounced that it will report on the Progress of this activity at the meet- ing next week. Morton Pioneer Dies in Glendive Holland when a small boy, went to Chicago in the early "70s, where he) entered the emnloye of a company. Coming to Mandan in 1884 he went work for the Northern Pacific rail- VERICLE REGISTRAR COLLECTIONS SHRINK Money Taken in First Four Months of 1931 Is $182,366 Less Than Last Year Collections for motor vehicle regis- trations for the first four months of 1931 were $182,366.65 less than collec- tions for the corresponding period of last year, according to figures an- nounced Monday by W. 8. Graham, motor vehicle registrar. For the period Jan. 1 to April 30, this year, collections totaled $1,287,- 485.60, while for the first four months of 1930 they were $1,469,832.15. Motor vehicles thus far total 124,530, while for the same pe- riod last year the registration was 140,312, making a decrease of 15,782. This year’s registrations include 106,482 passenger cars compared to 120,148 for the same period last year. ‘Trucks registered this year total 17,- 907, while there were 20,042 a year ‘ago. Motorcycle registrations increased, with 140 this year and 122 for the ‘There is a reduction of more than first four months of 1930. 30 per cent in the sales of new cars compared to a year ago, Mr. Graham said. Minot Man Is Found Dead in Automobile Minot, N. D., May 4—()—Oscar Arnestad, 30, an employe of a local ice cream concern, was found dead in an auto in the rear of the company’s plant in Minot by employes who came to work early Monday morning. The man 8) to have been dead for <a hours before he was discov- ere A post mortem operation was per- formed Monday forenoon, in order that the contents of Arnestad’s stom- ach might be analyzed. Body of Langdon Man Found Sunday Langdon, N. D., May 4—(#)—The body of Oscar LeBrum, 38, missing from his home since Saturday morn- ing, was found late Sunday in a reser- voir near here by searchers directed by Sheriff Anton Benson. County Coroner G. E. Stromberg said indications are that LeBrum took his own life and no inquest will be called. He leaves a widow, eight chil- dren and three brothers. Funeral services will be held Tuesday, Pneumonia Is Fatal To Bismarck Child Robert Russell, four-year-old son of BISMARCK TRIBUNE. MONDAY, MAY 4, 1931 FREE SN OT APNE HE Old-Time Orchestra ‘ May Be Reorganized ° ‘They may be somewhat out of prac- tice but John and Fred Peterson, “Mickey” O'Connor and Glenn Mor- vis, are anxious to revive the dead past and play a little old-time music. Morris, who is here to visit his mother, had been absent from Bis- | marck for years. His return} caused of the days “away | back when” he and the three local | men played together in Bismarck’s | leading orchestra, | John Peterson, so it is claimed, | drew a mean bow on the bass viol. Fred performed on the clarinet, O'Connor played the drums and Morris banged away at the piano. Rain Aids Crops in Missouri Slope Area Crops in the Missouri Slope coun- try were materially benefited Mon- day by a rain which totaled 40 of an inch at Bismarck. Although this area was not in real need of moisture it was expected to speed germination of the small grain crop, most of which has been pianted At 7 a. m.,, only .03 of inch of rain had fallen but a steady drizzle had increased this amount to .40 by 10:30 a. m., and the prospect was that ad- ee rain might fall during the lay. Scattered showers were reported from other sections of the state but the federal weather bureau had nc information regarding precipitation in the northwestern part of the state. which is said to be unusually cry for this season. At 7 o'clock Monday morning, Max had received .12 of an inch of rain; Minot .05 and Devils Lake .01. Botti- neau had received the same amount as Bismarck. ‘The prospect is for colder weather Monday night and clear weather Tuesday. WILL RECEIVE CARDINAL Vatican City, May 4.—()}—Pope Pius is to receive Cardinal Mundelein of Chicago in a farewell audience Wednesday. The cardinal will leave for Paris Thursday. cations of a kidney ailment. Besides his‘parents the child leaves two brothers and two sisters, all of whom reside with their parents, They are William, Lorraine and Anthony. Funeral arrangements have not been completed. Liquor Charge Against; 8. Weinstein Is Dismissed ed with illegal possession the resuit of a raid made by federal operatives last fall. ‘The case was dismissed after U. L. Burdick, essistant United States at- torney, moved its dismissal on the grounds that an investigation by fed- eral agents indicated that the case should be dropped. ‘The cases against Jack Jordon and Jack Heidt also charged with liquor law violations, wate dropped on mo- tion of the prosecutor. ‘Mrs. George J. Scharf, Wishek, ap- peared in court Monday morning and changed her plea of not guilty to with sending the mails, Will Investigate Hebron Man’s Death Morton ty oner, Monday went to Hebron to in- vestigate the death of Henry Scheuf- ‘sele, 23, Hebron. Scheufsele’s body was found beside his automobile three miles northwest of Hebron with a shot through his head. Indications were that he may have committed suicide. Beautiful Women Love New Powder Beautiful women, admired for youthful complexions, use MELLO- GLO, the new wonderful French pro- cess face powder. Purest and smooth- est powder known. Stays on longer. No flaky or pasty look. No grime or grit. MELLO-GLO prevents large pores and never smarts or feels dry. :| Blends naturally with any complex- fon, Demand Recall Glory nae Missouri Traffic o ‘Mello-glo.—Advertise- come from healthy systems. a-mint. Effective in TOL THEATRE Today, Tues., Wed., Thurs. CAPI Matinee Daily 2:30 10c and 35c Ie is to Laugh! King of Comedy in the Supreme Sensation Laugh of the Century Special! 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