The Bismarck Tribune Newspaper, May 28, 1931, Page 6

SES yee THE BISMARCK TRIBUNE, THURSDAY, MAY 28, 1931 TELLS BANKERS 10 AVOID) REPETITION OF PAST MISTAKES ‘We Are All to Blame’ for De- pression, Chicago Stock Ex- change Head Says Chicago, May 28.—(#)—President R. Arthur Wood of the Chicago stock exchange told delegates to the Illi- nois Bankers association convention ‘Wednesday “we all are to blame” for the present depression and that it 1s time to “consider soberly our mis- takes of ‘he past and seek to avoid} @ repetition.” “I cannot pass unchallenged the most general accusation that specu- Jation in the securities market was the prime cause of depression,” said | Mr. Wood. “And I cannot accept the indictment that the millions of small} Speculators end investors—and it is impossible to draw a rigid line of de- marcation between them—were de- ceived and victimized by those who} conduct the securities markets and! ‘those who are in close touch with them. “There were that trading in ed a dangerous volume and that! prices had reached perilous heights, “The farmer speculated by excessive | production of wheat and other pro-} ducts, and the planter in overpro- duction of cotton. With government subsidies, is looked like a sure thing for them, but neither producer nor the government, even in combination, could permanently abrogate the law of supply and demand. It was a tre- mendous speculation and we taxpay- ers are, and will be, paying for it for some time +) come. “Did the politican warn the farm- er and planter against excessive pro- duction of grain and cotton. And did the country banker decline to make loans against crop production? I think they both have some responsi- bility for: the current economic crisis. “I think that still other forms of speculation have grown up that, tak- en in their entirety, dwarf the trade in securities, however large it has grown. How about the vast growth in the use of so-called consumer cred- it,—more iamiliarly known as install- ment buying? “I have no doubt that both you and I could think of many other excesses that have contributed to the present depression. Instead of seeking to place or our troubles to any one industry or line of endeavor, isn’t it better to confess frankly that we all are to blame. Isn't it more sensible and profitable—yes, and more patrio- tle—to consider soberly our mistakes and faults of the past and seek to avoid a repetition of them?” ‘Apartment Owner Is Strangled to Death Chicago, May 28—(/P)—Strangled with a small cord, the body of Samuel Bloom, 65, a wealthy owner of apart- ment houses, was found in his home Wednesday night, the victim, police believed, of burglars, one of whom was @ woman. The police were working on the; theory the burglars gained entrance to his apartment by posing as pros- pective tenants. A small amount of money which Bloom had when last | seen by his son, Alexander, was missing. Weatherproof Your Car! Protect your car interior from the destructive effect of the ele- ments by letting us equip it with a new top. You'll be proud of your car's renewed appearance. And you'll marvel at the amaz- B ingly low cost of having the work done here. Your choice of materials in harmonizing colors. DINGLE TOP & BODY WORKS In Rear of Ack’s Radiator Shop Phone 290 606 Main Ave. ‘CAREFULN AND | PERSON EL SERVICE: You are assured of | Strasburg, Zeeland, Hague, Herried, ; Hazelton, Braddock, Napoleon, News of Interest in N. D. Towns (By The Associated Press) Hazelton—A committee from the| Emmons County Breeders’ association attended the Business Men's club |meeting here and as a result of the discussions a committee was appoint- ed from the local club to work in co- operation with the Breeders’ associa- tion to formulate plans for the 12th énnual stock show which is to be held here June 17 and 18. Linton—Five gallons of gas may cost Otto Schuck, living east of here, $91.40. Schuck was found guilty after a trial before Justice of Peace A, M. Britts on a charge of having stolen five gallons of gasoline and was fined $91.40. He has made an appeal to be tried at the next term of district court. Hebron—Judge H. L. Berry, Man- dan, is scheduled as principal speaker | at the Memorial Day services to be held here Saturday. Hazelton—Hazelton's golf team was defeated by the Hettinger team here. Nine men from each team took part in the 18-hole contest. Linton—Merchants from Linton, Pol | lock, Temvik and other towns attend- | ed the meeting of merchants here. Harry L. Kyes, secretary, National | Merchants’ association, was the prin- | cipal speaker. Hettinger—Members of _ the West Missouri Slope group of the North Dakota Bankers’ association met here for the annual meeting of the association for his district. J. E. Phelan, president of the First National bank, Bowman, gave an address. Officers elect- ed are H. M. Wevdahl, president; 'T. E. Hudson, vice president; W. T. Krebsrach, secretary-treasur- er. Stanley—One hundred and_ sixty thousand dollars of the federal seed loan money has been put out in Mountrail county to 868 farmers through efforts of the extension of- fice and cooperation of banks. About 1,300 applications were made but only 885 were sent to the seed loan office. Bottineau—Bottineau will be host to the registrars of deeds of North Dakota June 15 and 16. Lake Metigoshe and the Turtle Mountains served as entertain- ment attractions. Stanley—Wool growers of Mountrail county met for their annual meeting here. Wool prices and prospects for betterment were chief topics on the speaking program. Verona—Judge M. J. Englert, Valley City, was to deliver the ad- dress to the graduating class of Verona high school at exercises here Wednesday. Don’t Walk Riding costs little in one of our recondi- tioned Used Cars Summer days are here again—and millions are answering the call in their motor cars. Join them, today, in an auto- mobile of your own. Our Used Cars are so low in price that no man who is making even a most modest wage should be without one. Very little cash is r quired. The monthly payments will scarcely disturb your budget— they amount to only a few dollars a week. Come in and see the wonderful values. Pick out your car. Ask for a demonstration; it costs nothing, All Makes of Used Cars Copelin Motor Company Better Service Phone 318 Bismarck than 1,500,000 had found work. FOUR-POINT SYSTEM IS RECOMMENDED BY LABOR GROUP'S HEAD Predicts Hard Winter Ahead Because of Less Than Nor- mal Employment Washington, May 28.—()—Presi- dent William Green of the American Federation of Labor sees indications of a hard winter ahead. He believes its effects could be minimized by adoption of a four-point remedial program. Asserting that a less than normal increase in spring employment this year forecasts a worse winter than last, unless immediate steps are tak- en, he proposed Wednesday night that employers guarantee continued work to as many men as possible, “A guarantee of employment to even a portion of the country’s work forces would help business revival enormously and bring relief from an- xiety to thousands of workers’ fam- ilies,” Green said. Compared with spring improvement | in prosperous years, he said, “this; year's employment gains have been small indeed.” He estimated that of 6,300,000 out of jobs in January less As a further remedy he reiterated a request that “some thoughtless em- ployers” discontinue “sniping at wage standards.” A pay cutting policy, he contended, engenders a fear for the Europe Struck by Electrical Storms London, May 28—(7)}—One mean was drowned and three persons were struck by lightning in a terrific elec- trical storm which swept southern England and Wales Wednesday night and struck the London ares heavily ‘Thursday morning. In South Wales bridges were swept | City-County News 4 Records at St. Alexius hospital show four boys born Wednesday and Thursday, They were born to Mr. and Mrs. L. B, Brauer, Bismarck: Mr. and Mrs. Christ Schas, Solen; Mr. and Mrs. N. E. Longbottom, Bis. marck; and Mr. and Mrs, M. C. Hein- sohn, Mandan. ENGINEER KILLS SELF New York, May 28—(?)—Colonel Gustave R. Tuska, 61, a consulting engineer of national prominence, shot and killed himself Thursday. He had been ill for s year. WINS NO RACES! to peel, rub off or fade. 42 Broadway away, roads, fields and homes were flooded and there were several land- slides, one of which wrecked a colliery train, injuring several miners. High winds and heavy rain laid waste to fields and gardens in the vicinity of Vendome, France, washing out roads and doing considerable damage to fruit orchards, Weeds and grasses rob the soil of moisture and plant food, and result in @ crop of poorer quality. ——————eeeeeeeee— EEE SOMETHING NEW Have just installed a new machine that dyes shoes any color desired to match your dress, Guaranteed not We can dye your gloves, purses or belts any color you wish. We also specialize in dyeing men’s shoes. CAPITAL SHOE HOSPITAL JACK GARDNER, Prop. J.C. PENNEY CO, future that leads men to buy only Jana other members of the group from necessities. jthe United States and Canada. All available work, he said, should | Should the strip of land be accepted be divided pro rata among employes |a similar plot of land in North Da- since each man has a “moral claim” |kota will be purchased and included to at least o share, He also suggest- jin the garden, Mr, Watkins said. ae Lepdirt eae! Risers Br r fa! to worse an Jast,” immediate plans should be made Hector Airport in y the proper agencies, “Unless industry, labor and our F argo Is Dedicated governments face this problem now,” “eee: Green said, “next winter's suffering} Fargo, N. D., May 28.—(}—While may be worse than last.” planes whirred overhead, déefying dark clouds which threatened a de- ie luge any minute, Fargo Wednesday Dickinson Baseball EEE eat Team Wants Revenge) ariet showers falling intermittent- — ly failed to dampen the holiday spirit, Dickinson, N. D., May 28—Impati- | snd the crowd was estimated at from ent because no answer has been re-|4,000 to 6,000 persons. ceived regarding their challenge to the Washburn team for a return game, the Dickinson Cowboys have sent a telegram repeating their desire for a return game and requesting the northeasterners to wire an answer. In a game May 17, Washburn de- feated the Cowboys 9 to 3, but the lo- cal team contends that it had an off day and wants an opportunity to re- verse that decision. <8, Will Visit Proposed Peace Garden Site) Dunseith, N. D., May 28.—(P}—A tract of land comprising 600 acres in the Turtle mountains offered by the Province of Manitoba as a site for the proposed international peace gardens on the Canada-United States border will be investigated June 2 by @ com- mittee of the International Peace Garden association, C, 5. Watkins of Dunseith, chairman of the committee arranging the meeting, said. Members of the inspecting group will be H. D, Moore of Islington, Ont., ’ | 78° and up. Installed QUICK FACTS Hermetically seated refrigerating unit No kitchen repairs Fewer moving parts Costs less to operote Quictest electric refrigerator Handy Temperature Control Mare, usable shelf space Flat, usable tep Reoutiful, graceful cabinets Low prices—generaus terms Broad fectory guerantes the new SERVEL HERMETIC HE new Servel Hermetic takes electric refrigeration out of the “luxury class” for- ever—makes it easy for every family toenjoy the tremendous convenience of electric refrig- eration immediately. The highly simplified operatin; unit is hermetically scaled frees you from the and expense of kitchen irs or replacement of t gives ou. “care-free” refrigeration for fewer cents a day—requires less electric current. Come today to the Servel dis- play. Let us explain how Servel engineers have perfected “care- free” hou refrigeration —how they have eliminated all the commonest sources of past trouble. °° COME IN AND SEE THE NEW SERVEL HERMETIC Bowman Furniture Co. 202 Broadway BISMARCK, N. DAK. Phone 100 For your lawn mower sharpening and re- pairing, call the Bismarck Spring Service, 714 Thayer or Phone 137. USED PARTS Everything in used parts for the car. Some of the cars we are now wrecking. °26 Master Buick 728 Essex Coach °26 Hudson Coach 25 Star 1011 East Main Bismarck, N. Dak. °25 Standard Buick 26 Oakland Sedan °24 Light Studebaker °% Dodge Sedan Phone 154 KOOLMOTOR GASOLENE Is free from valve-sticking gum Gum in gasolene cuts downspeed...reduces power CITIES SERVICE Serna gum fom KOTOR es gy gasolene —provides speed, power and & pick-up. Try it today. PURE PETROLEUM PRODUCTS Cities Service Oil. Company Cities Service—one of the country’s ten largest Industrial ergantzations— Dreadcasts Fridays, S P.M. (E. D.T.—WEAF and 37 stations on N.. conste to-coast and Canadian INSIST on the INSIDE FAcTs For Your Protection Make These Com: Before You Buy Your Tires... ‘NDERNEATH the surface is where you get the cold truth about tire values. It’s the inside of the tire— the method of construction and the quality and quantity, of materials —that determines ites Stamina, Perform- ance, Safety, VALUE. We have arranged to show you cross sections of Firestone and special brand mail order tires. You can come here and make your own comparisons, uninflu- enced by any sales propaganda. We urge you to thoroughly check every vital point—rubber volume, weight, width, thickness, and plies under the tread. Then buy accordingly —ON FACTS AND FACTS ALONE. There can be no ques- tion or controversy when you get the FACTS yourself. COMPARE Construction and Quality 450-21 TIRE OUR TIRE Brond Malt ‘Seme Price. .-_.! $5.60 1 5.09" COMPARE PRICES | UTOMOBILE Manufects do not take cheness with special brand tires. 4 Mhoeld you take the rick when you cam save money by bering Firestone quality Oldfield type and in addition get our We list below the leading professional inte; ! ty the mer attention and ea when catrust us with Te- 8 ity. You can ‘upon us, We Understand Webb Bros. Funeral Directors The Farmers Union Invites You To listen in at 9:00 p. m. Monday night, June Ist, over KFYR. An interesting program will be arranged. A talk in the interest of the Farmers will be given. { “The Farmers Union is seeking to serve best the farmer’s interests” Double Guarantee—Every tirc: manufactured by Fire- stone bears the name “FIRESTONE” and bears Firestone’s un- limited guarantee and ours. You are doubly protected. %*A“Special Brand” Tire is made utors such 2s mail order houses, oil com un der a name that does not identify the tire manufacturer to the Peapod usually because he builds his “first own name. All we ask is this: Come in to our for yourself sections cut from va: per Compare Quality—Construction—and Pricel -oq Copelin Motor Company BETTER timer SERVICE. 318 Phone Bismarck, No. Dak. PT LOS sTOoORE Bismarck, N. Dak. OAaPARTMENT * 113-115 Fourth Street qt in comfort and style . .. at savings! This year that extra measure is overflowing. that break all records for quality at these prices. Whether a trim Sennit, a swagger ‘Panama or 2 soft-brimmed Milan . . . ‘you wear them with smert assurance! a a a Rough Straw Sailors by “Betty Co-Ed” $1.69 ‘A very smart group... at an extraordinarily low price. The new sailor has a lifted brim... and comes in a rough straw, a 4 98c ys The new “Jean Nedra” hats are delightfully young and smart... of straw and straw braid, trime ‘ ‘ 4 > Lacy straws and braids to » ‘ make you look your most feminine and charming this summer. Light and cool, as well as smart and flattering. Black, white and pastels... trimmed with ribbon and flowers. No. 446! Silk to the top. F ‘2. P ‘ull, Hined welt; silk-plaited foot. Summer shades, -