The Bismarck Tribune Newspaper, May 11, 1933, Page 1

North Dakota’s Oldest Newspaper ESTABLISHED 1878 Farm Bill to Be Si THE BISMARCK TRIBUNE BISMARCK, NORTH DAKOTA, THURSDAY, MAY 11, 1933 Stocks and RECORD NEW PEAKS FOR RECOVERY IN VIGOROUS TRADING: Feverish Pace Is Set On Wall Street and Ticker Falls Behind Activity COTTON AND WHEAT JUMP Advances Only Temporarily Checked By Profit-Taking As Fever Spreads New York, May 11.—()—Stocks and | principal staples were swept up to new; highs for the recovery on the crest. of another huge buying wave Thurs-| day. ‘Trading in the share market hit the | feverish pace of last week, with the ticker falling in arrears of transac- tions. Extreme gains ranged from $1 to more than $5 a share in many Assues. While the advance was fre- quently checked by profit-taking, prices were around the day's best by mid-afternoon, with rails taking the lead. Sales approximated 6,000,000 shares, one of the largest turnovers of | the lastth ree weeks. H Cotton jumped up about $1 a bale to a new high since September, lost nearly half in its gain, then recovered | to around the day’s top levels again. Cotton futures finished with net} gains of $1.50 to $1.70 a bale. The monthly government crop re- port prompted a fever of buying in the wheat market at Chicago, send- ing futures up 2 to 3 cents. Other grains were strong. The tendency was hhigher in the smaller staple markets at New York, with sugar, Wednesday's soft spot, rallying, and crude rubber jumping about three-tenths of a cent ® pound. Union Pacific advanced more than €5 to above $88; Norfolk and Western $3 to $144; Santa Fe $2 to above $61; Allied Chemical, more than $ to ‘above $99; American Telephone, about €3 to over $106; U. S. Steel about. $1 to $50; Dupont, about §2 to close to 62; American Smelting $2 to above 830; Consolidated Gas, more than $2 to above General Motors, about $1 to $24.50; Chrysler to above $20. | Speculative trade was of tremend-| us volume in all grains. i] Most of the gains were retained at the close. Wheat was 25% to 2% cents; above Wednesday's close with the De-| cember delivery at 78. 3 Corn ranged from 1% to 2% cents higher, with December at 49% cents. Rye was a sensational performer, running up from 3% to 4% cents a bushel, with December selling at 58% cents. Oats gained as much as 1% cents a bushel. Lard ran up briskly in heavy trans- actions and the July delivery, the; most active month, closed at $6.52 a tundred pounds. HOG PRICES SHARING IN GENERAL ADVANCE Slated to Be Holland Envoy Colonel William Gorham Rice, above, White House secretary to President Cleveland, is ex- pected in New York to be named minister to the Nether- lands by President Roosevelt. Colonel Rice is chairman of New York state's civil service commission. 'U.S, WHEAT CROP T0 BE SMALLEST SINCE LOW POINT OF 1904 Production to Be Below Re- quirements For First Time This Century Washington, May 11—(#)—The smallest wheat crops since 1904 and the first this century below domestic consumption needs was in prospect Thursday as nature's mighty hand in cutting down the nation’s wheat sur- Plus was registered in government statistics. “trop reporting board's esti- mate of winter wheat production was $337,485,000 bushels. The estimated production—which compares with an average of $589,436,000 bushels for the Period 1921-1930 of winter wheat— is the result of the heaviest abandon- ment of acreage ever recorded in this country, 3.2 per cent, due to bad weather conditions. On the basis of planting intentions spring wheat production would -ap- ‘proximate 267,571,000 bushels, and the jtotal crop of all wheat, 605,000,000 | bushels. |. Wheat production in this country |has exceeded that figure every year since 1904, the only time this cen- bushels. While a smaller crop this year is seen as a help in cutting down the surplus, expected to be about 330,000, 000 bushels on July 1, to thousands of farmers it is tragedy. In Kansas, the biggest producer of South St. Paul, May 11.—(?)—Hog|winter wheat, farmers have aban- prices advanced from five to 20 cents per hundredweight in the local mar- ket Thursday with a late trading top/that in order to realize an in of $4.10, the highest price, with one exception, since last September. The top a year ago Thursday was $3.20. At the same time, H. R. Leonard, ‘Twin City Milk Producers’ associa- tion manager, said farmers in the! ‘Twin Cities area were getting 21 per; cent more for butterfat and 12 per cent more for milk than two months ‘ago, with further advances in pros- pect. Butterfat brought 23 cents per: Port Thursday by the Dominion bu- pound Thursday and milk 83 cents/ rea. of statistics which showed a re- per 100 pounds, Will Ask Indictment Of . Girl’s Kidnapers' rete acreage intentions for oats and Harwichport, Mass., May 11.—(?)— ‘The commonwealth was ready Thurs- ay to go before a grand jury to seek indictments for the kidnaping of 10- year-old Margaret McMath. Chief of police E. E. Hall of Har- wich and state detective Lieutenant Ernest Bradford said Wednesday night their cases against Kenneth and Cyril Buck, brothers, were complete and announced there would be no other errests. The Buck brothers were held in $100,000 bail each, Kenneth charg- ed with kidnaping and extortion and Cyril with extortion. ‘Orders were issued Wednesday for) ‘@ meeting of grand jurors at Bran- stable Monday. District Attorney Wil- iam C. Crossley indicated he would bring the brothers to trial as soon as the law would permit, possibly on dune 5. Delay Appointment Of Mill Executives) crenty-two men’ were charged for- ‘The state industrial commission wil!| of court Thursday in connection with riots at the Joseph Shields farm| disput meet in Grand Forks Saturday to fur~ ther study affairs of the state mill| mortgage foreclosure sale two weeks end elevator. After meeting here to consider an eudit of the mill and elevator made by O, B, Lund, auditor, the three members of the commission decided to go to Grand Forks to confer with mill officials. Action on applications for various executive positions at the mill was de- erred until a later date ‘SOONER’ DEBATERS WIN Akron, O., May 11—(#}—The Altus, Okla., high school debating team he- came the national champion Thurs- doned 48 per cent of the area sown to the crop last fall—which means come comparable with recent lean years, a sharp price increase will be essential to offset the effects of weather. ‘Canadians Reducing 1933 Wheat Acreage Ottawa, Ont., May 11.(7)—A de- ; termination to curtail the Canadian wheat acreage was revealed in a re- duction in the estimated area to be sown to spring wheat from 26,646,100 {acres in 1932 to 25,171,000 acres this mixed grain were slightly above the acreages seeded in 1932, with barley and spring rye slightly lower. The intended acreage of flax was given as 384,100, compared to 453,700 seeded in 1932. This would represent @ reduction of 15.4 per cent. Norwegian Royalty | | Will Visit America Chicago, May 11.—(#)—Oscar J. W. Hansen, Chicago sculptor today cabl- ed from Oslo, Norway, that King Haakon VII, at a formal audience, promised to send Crown Prince Olaf and Princess Martha to the dedica- tion of the Leif Erickson memorial in Grant Park here, September 1. 22 Rioters Facing Formal Accusations Denison, Iowa, May 11.—(%)—' mally with conspiracy and contempt ago. Frank North, 46, of Vail, alleged leader, was charged in a separate in- formation. The other 21 were named in blanket charges. WILL ENROLL VETERANS Washington, May 11.—(#)—Presi- Gent Roosevelt Thursday modified the reforestation program to permit en- rollment of 25,000 unemployed World war veferans. The presidential move was timed} apparently to offer jobs in the forest; day, by winning in the finals over the | in Washington to demand payment of Hutchinson, Kansas, pair. a the bonus. Staples Soar on All Markets RELIEF IS RUSHED TO STRICKEN AREAS IN SOUTHERN HILLS Workers From Many Sections Enter Section Devastated By Tornadoes 35 Known Killed in Kentucky and 22 in Tennessee Fol- lowing Twisters Glasgow, Ky., May 11.—(#)—Relief workers from Washington. Louisville, Glasgow, Danville and other Ken- tucky cities Thursday were concen- trated at Russell Springs and Tomp- kinsville, the communities hardest hit by tornadoes Tuesday night which caused 35 known deaths in Kentucky and 22 fatalities in Tennessee. The storm was the seventh of a series of major tornadoes battering the south since March and raised the total of spring storm fatalties above 250. The midnight twisters bowled over houses, uprooted trees and left behind them a scene of destruction resembl- ing a battle field. Scores were injured and roads in the Cumberland foothills were choked with trees and debris. Heavy rains and hailstorms hampered res-; cue work. Livestock as well as hu-| mans were killed. The injured were) cared for Thursday in the larger! Tennessee towns and a hotel was used for a temporary hopital at Rus- sell Springs, Ky. { ‘ The spring storms have come ini fitful bursts that reaped destruction from Louisiana to the Carolinas and from Texas to Illinois. i NEW STORM IN TEXAS CAUSES THREE DEATHS Brownwood, Tex.,.May 11.—()—At least three persons lost their lives in @ destructive windstorm that wrecked dozens of buildings in this section Wednesday night. 1,400 ADULTS HEAR | MUSICAL FANTASY 600 Grade School Children Pre- sent ‘The Magic Lamp’ Wednesday Night More than 1,400 adults were enter- tained Wednesday evening by 600 tury that it has been below 600,000,000 | grade school children, who presented an original musical fantasy as a fea- ture of the Capital City’s observance of national music week. The production, “The Magic Lamp,” created by Miss Ruby Wilmot, grade school music instructor, was present- ed at the World War Memorial builq- Assisting Miss Wilmot in the pro- duction were teachers of the grade schools. The finesse with which the Program was presented testified to the great amount of work spent both by teachers and pupils in preparing for the event. The program opened with a short concert by the combined junior and senior high school orchestras under the direction of Clarion E. Larson, followed by choral numbers, drills, dances and readings by pupils of the first six grades. Music by the com- bined juvenile bands under the direc- tion of Larson closed the program. Speaking parts were taken by James Shirek, Evelyn Rosen, Roy Reade Logan, Jimmy Cass, Wilmar Martine- son, Robert Gray, Arthur Stadler and Milton Klein. Jimmy Cass, Wilmar Martineson, Robert Gray and Arthur Stadler ap- peared with large musical score vol- umes, as tall as the boys, and were dressed in costumes to match. In all the presentations, with the exception of the choral, band and or- chestra numbers, the children were dressed in appropriate costume. Each of the musical numbers was followed by a drill and dance. Pupils from the Roosevelt, William Moore, Will Annex, Wachter and Richholt schools participated in the program. League to Consider Declaration of War Geneva, Switzerland, May 11.—(?) —The League of Nations convoked a special session of its council Thurs- day to consider Paraguay’s declara- tion of war against Bolivia, the first formal declaration since the birth of the League. This action was taken after a meet- ing of the council’s committee on the ite had been convoked as a re- sult of official notification of the Paraguayan declaration. Bolivia informed the League of the declaration of war and asked that action be taken concerning it. Pend- ing action by the council the League is addressing appeals to Paraguay ind Bolivia to exercise moderation and to refrain from acts of war. BRAVES BUY MOWRY Boston, May 11.—(#)—The Boston Braves Thursday announced purchase of Joe Mowry, outfielder of the Min- neapolis club of the American Associ- Holland, a pitcher yet to be selected and “a considerable sum of money.” camps for the veterans now pent of | ti in return for outfielder Robert DEATH LIST PUT AT 57] RS ST ’ Beauty Will Bow In British Court SS To be presented at the Court of St.| James in London this month is Miss Virginia Kent (above), daughter of A. Atwater Kent, prominent in Phil- adelphia, Pa., society. PLAN TO RE-EMPLOY MILLIONS 1S PUSHED BY ADMINISTRATION Partnership of Industry, Labor and Government Envision- ed in Measure Washington, May 11.—()—Re-em- ployment of millions of men now job- less was envisioned by the adminis- tration as it pushed ahead in the drafting of a bill for tying industry and government together in the broadest “partnership” since the be-~ ginning of the nation. The legislation which President Roosevelt is now directing and which he hopes to send to congress early next week at the latest, contains two major points—one for industry and one for the government—but each aimed directly at unemployment. They are: A public works program undertaken by the government at a cost fixed tentatively at $3,300,000,000, part of which would be expended through loans from the Reconstruction cor- poration. Relax Anti-trust Laws Relaxation of the anti-trust laws to permit voluntary working agree- ments in various industries to im- Prove price levels, adjust working hours and maintain wages, in return for which industry would be compell- ed to show that its proposals would absorb a specified number of persons now idle. Following a significant conference Wednesday at the white house of high Officials and representatives of labor and industry, the chief executive set his own committee to work bringing the proposals into final shape. After its first meeting, the committee in- dicated that an agreement might be reached Thursday. The group in- cludes Lewis W. Douglas, director of the budget; Secretary Perkins, assist- ant secretaries Dickinson and Tug- well, and others. ‘Various proposals for self-tegula- tion by industry have been in the mill for weeks and it is understood that the chief executive instructed the committee to incorporate the best features of all into one workable pro- gram. Senator Wagner (Dem., N. Y.), said Thursday virtual agreement had been reached on the public works program bill to which will be added provisions for @ measure of industrial control. and that the bill probably would be presented to the president later in the day, Provides For Agreements He told newspapermen the indus- trial control section provides for vol- untary agreements by industry on production, hours of labor and wages, and has authority for government control to force recalcitrant minorities into line, The agreements would be approved by @ government agency and anti- trust laws would be set aside to per- mit certain industrial combinations. It was understood that a tax is contemplated to raise funds for the $3,300,000,000 public works section of the bill, but there was no indication what form the levy would take. In the tentative form the measure has taken the Reconstruction Corpor- ation would act as a fiscal agency in handling the funds for public works. The president is given broad powers over the building programs and this probably would be delegated to an ad- ministrator. The tax legislation will be framed to raise $20,000,000. This amount is jexpected to finance the bond issue by ‘providing for interest payments and a | sinking fund to amortize the bonds. Representative Byrns, the Demo- cratic leader, expressed the view the new measure would “obviate the necessity for action at this session on ;the 30-hour work week bill.” CLAIM RACKETEERS BEATEN Chicago, May 11.—(#)— Alleged Teamsters’ union was declared brok- en Thursday by officials as they or- dered 3,000 drivers and hikers to re- iturn to work at a reduced wage scale. ! racketeer control of the Chicago; GERMANY BALKS AT PROPOSED TRUCE ON , TARIFF TRADE BARS Declines to Act Quickly On! Agreement Submitted By American and Britain London, May 11.—(#)—Germany’s unwillingness to give prompt assent} to the tariff truce has definitely de- layed the formal acceptance and the| the world economic armistice project. Wednesday evening and Thursday forenoon, but when the} German reply finally was received! after a noon meeting of the cabinet of the reich in Berlin, it was to the effect that the German government would need more time to study the proposals. An effort was made here to im- press German quarters with the ne- cessity of immediate action and it was understood similar pressure ington. The tenor of the German reply was, it was understood, that Britain and America had takeh their time about evolving the truce formula and the tately into an agreement. The hitch is understood to have arisen over a clause in the agree- ment which provides for withdrawal of nations should the price levels be unduly disturbed. Both American and British interpretations of this clause have been sent to the other govern- ments. The six other nations, all represent- ed on the organizing committee for the world economic conference, are France, Germany, Italy, Japan, Bel- gium and Norway. Seek Same Interpretation ‘The American representatives here are understood to be unaware of the phraseology of the British interpre- tation and hopeful, for the sake of expedition, that it is not too different from Washington's interpretation. There is no doubt in American cir- cles that certain clauses in the truce text are viewed by the British as protection against undue devaluation of the American dollar, such as might upset existing trade agreements, im- port quotas and foreign commerce during the period of the truce. The United States sought a truce for the duration of the world eco- nomic conference, probably ending late this year. It was reported the present pact would be effective only until the conference opens at which time the United States will press for extension. Fresh reports, described as “well authenticated” that President Roose- velt is coming to the world economic conference resulted in smashing head- lines in Thursday afternoon's news- papers. The reports came in press dispatches from America. There was much interest in one rumor that the presidegt was com- ing on the new cruiser Indianapolis. This cruiser, according to the story, is being prepared “for the fastest crossing of the Atlantic ever made lee a ship.” WASHINGTON DISCUSSES METHOD OF PROCEDURE Washington, May 11.—(®)—Ameri- can preparations for the world eco- nomic conference ‘are now centered on definite discussion of the best ways of procedure at London to insure quick action and prevent a long drawn out and inconclusive gathering. Views on this subject are being ex- changed with Dr. Hjalmar Schacht, representative of the German govern- ment, and other statesmen sent here for conversations with President Roosevelt. } In official circles, the opinion has been formed that a stabilization of the pound and the dollar at about their present ratio would establish a jsound basis for action at London. Efforts to hit upon a specific ratio during the visit of Prime Minister Ramsay MacDonald and his British colleagues were unsuccessful, but they have not been abandoned. The end of the parade of distin- guished visitors to Washington to pave the way for the world parley is now in sight. Conversations with Schacht are nearly over. Alberto J. Pani, Mex- ico’s secretary of the treasury, who is particularly interested in internation- al action to lift the price of silver, was expected to talk to the president Thursday. Also continuing are dis- cussions with T. V. Soong, Chinese finance minister. Japanese, Brazil- jan and Chilean delegates are yet to come. It was reiterated at the white house {that President Roosevelt has no pres- ent intention of attending the Lon- don economic conference opening on June 12. | LIKES RAILROAD PLAN Washington, May 11.—(#)—Carl R Gray, president of the Union Pacific jrailroad, told the senate Interstate Commerce committee Thursday the {railroads will go along” with the ad- ministration’s railroad reorganization plan. “We will cooperate with the federa: |coordinator,” he said. reich could not be rushed precipi-) Here’s How Farmer Is Helped by Bill Collects Cotton Into One Pool; Gives Planter Benefit of Advance PROVIDES PROCESSING TAX Reductions in Acreage to Be Compensated By Payments From Government ‘Washington, May 11.—(#}—If you are a farmer, here is the way the ad- ministration’s price-lifting and mort- gage relief bill proposes to help you: It collects all federal-owned cotton into one pool, to be sold to planters Passing on to.other governments of on credit provided they reduce acre- | age. Later it Will be sold by the gov- German assent had been expected’ ernment, with profits going to the again) tarmer. Secretary Wallace is authorized to: Proclaim a processing tax on the seven basic commodities—wheat, cot- ton, corn, rice, topacco, hugs and dairy products—sufficient to increase their price to 1909-1914 levels for all but tobacco, for which the level would |be the average 1919-29 price; and Approve marketing agreements with those who buy from the farmers, to Permit them to pay the farmer more. Receipts from the taxes would be would be brought to bear from Wash-/ paid back to the farmers in direct benefits or through leasing land to get it out of production, if they reduce their production. The payment will be in accordance with the decrease in output. To promote foreign markets for American farm products and pay the benefits until tax receipts are guffi- cient, the bill appropriates 100,660,000 from the treasury, to be repaid the government from the tax collected. Aids Mortgage Situation Should the farmer have a mort- gage on which he now pays the aver- age 6 per cent interest, the federal land banks would refinance it at a maximum of 4's per cent if he bor- rows through a farm loan association. If he has already borrowed from, the land banks, he would not have to pay the 1 per cent annual amortization payment. Should he wish to borrow directly, the interest rate would be one-half of one per cent more. To finance this, the government Proposes to issue two billions in land bank bonds, bearing four per cent in- terest which the government would guarantee. To aid those who have borrowed from the joint stock land banks, the government will supply $100,000,000 jfrom the Reconstruction corporation ito the joint stock banks so they can \reduce ‘their interest to 5 per cent, with the stipulation they can not foreclose for two years. For the assistance of those who wish to refinance their other debts, the bill provides $200,000,000 for loans from the Reconstruction corporation so that farm debtors could make com- position of their debts with creditors under the machinery of the bank- ruptey law. Here are primary provisions of the inflation section of the bill: It authorizes the president to ex- pand federal reserve credit by three billion dollars through agreements be- tween the reserve board and banks whereby the latter would purchase market in that amount and hold them for specified periods. Banks would be relieved of graduat- ed taxes on reserve deficiencies and no automatic increase in rates of in- terest or discount would be required. The board may require the banks to “take such action as may be neces- sary to prevent undue credit expan- son.” Geneva Is Startled By German Statement Geneva, May 11—()—Geneva was startled Thursday by a declaration by Foreign Minister Konstantin von Neurath of Germany that whatever reductions in armaments are achieved under the British plan “Germany will be compelled to supplement her arm- aments and increase her army.” This declaration, published in the journal of the German League of Na- tions Union, expressed considerable dissatisfaction with the British arms plan, which is under consideration at present by the disarmament confer- ence, It came at @ time when the confer- ence was practically suspended be- cause of conflicting views. The German foreign minister, in a signed article, declared in his judg- ment there is no hope for prohibi- tion of air armaments or bombing air- craft. The disarmament conference, he said, has demonstrated that the heav- ily-armed states have no desire to disarm. Thousands of Books Burned by Germans Berlin, May 11.—(?)—Only the ashes remained Thursday of thous- ands of books by German and for- jeign authors, Americans included, which burned on pyres throughout the country last night. The works of such Americans as Jack London, Franz Boas and Helen Keller were among the literature condemned as contrary to the new German spirit. Students heaped them on the pyres by the cartload. | Elected to Be New , Harvard President ie Dr, James Bryant Conant (above) has been chosen president of Har- vard university, succeeding Dr. A. Lawrence Lowell, resigned. FARM STRIKE CHIEF SAYS ACTION WILL BE VOLUNTARY ONE Producers Considering Whether to Go to Market or Re- main At Home Des Moines, Iowa, May 11.—(®)— Farmer Jones was making up his mind Thursday whether to go to mar- ket Saturday on join the farm holi- day. ic Plans for the general farm sales holiday are under way by state presi- dents and county chairmen after be- ing approved by Milo Reno, national holiday president. The strike will be voluntary on the part of the individ- ual farmer, he said. The state and county officers will seek to obtain support from the farm- ers. Marketing committees will be organized to deal directly with city buying committees, selling farm pro- duce at a “fair” price. When the farm strike becomes ef- fective Saturday, control of all milk markets will be assumed by the state of Wisconsin under executive order, Governor A. G. Schmedeman an- nounced. Milk will be transported to cities under the direction of health commissioners for children and sick persons. No milk will be sold at stores. No violation of the constitu- tional rights of citizens will be allow- ed, Gov. Sehmedeman said. As the strike apparently drew near. martial law was suspended Thursday in Plymouth and Crawford counties ‘in Iowa, the scene of disturbances two government securities in the open|weeks ago. Civil authorities an-| nounced they planned to file charges Thursday against persons responsible for the outbreaks and continue with preparations for trial. Leaders of farm organizations op- to the general embargo were preparing to back Secretary Wallace in the administration of provisions of the new farm relief act passed by lcongress Wednesday. They maintain the holiday will not assume large pro- portions and will not seriously affect the nation’s markets. BURDICK URGING N. D. FOLK TO PARTICIPATE Northwood, N. D., May 11.—)}— Active but peaceful participation in the national farm strike set to start Saturday was urged by U. L. Bur- dick, state president of the Farmers’ Holiday association, at # meeting here Wednesday night attended by some 1200 farmers. C. 8. Tornbom, Northwood, was chairman and Albert Bilden, North- wood, told of organization work be- ing done in this district. The meeting selected five men as members of the county defense coun- cil. They are P, O. Olson of Grand Forks, county holiday association president; J. P. Hemmingson, Niag- ara, vice president; Al McManus, Grand Forks; O. E. Bilden, North- wood, and Lars Larson, Grand Forks. Tractor Headlights | | Beaming in Alberta Calgary, May 11.—(#)—Tractor headlights beamed on Alberta farmlands as wheat growers in- stituted a 24-hour working shift to make up for lost time. It was believed the first time sowing on a wide scale had been undertaken after dark. Kept off the land by more than two weeks of rain and snow, farmers had completed only 25 per cent of seeding. Bright sun- shine appeared over southern Al- berta Wednesday and agricultur- ists not only took advantage of the good daytime weather but turned on the tractor lights and kept at it long into the night. Weather Report Somewhat unsettled tonight and Pri- day; little change in temperatures PRICE FIVE CENTS gned Friday PRESIDENT 10 ASK MORTGAGE HOLDERS TO SHOW PATIENCE Moves to Put Refinance Provi- sions to Work But It Will Take Time WALLACE TO SPEED ACTION Agricultural Secretary Ready to Use Wide Authority Granted in Measure Washington, May 11.—()—Repre- sentative Byrns, the Democratic lead- er, said Thursday absence from the city of Speaker Rainey will delay sending the farm relief-inflation bill to the white house until Friday. He must sign the measure. The legislation contains a provision for refinancing farm mortgages. Pres- ident Roosevelt has been setting up the machinery to put this into early effect but it undoubtedly will take some time to get the vast refinancing Job in full operation. Consequently, he intends to issue a statement at the time of the signing of the bill urging holders of mort- Bages to be patient and permit the necessary preliminary work to be done to give them relief. Secretary Wallace headed home from Boston, where he made a speech last night, ready to take the first steps toward restoring the farmers’ pur- chasing power within 36 hours after Roosevelt pens his name. The man who will direct the feder- al reserve board's operations in ex- Panding credit as much as $3,000,000,- 000 under the inflationary provisions —Eugene R. Black—planned to take office during the day. Designated to become governor of the board, Black was appointed by the president Wed- nesday. Grants Wide Powers i _The farm relief—inflation measure sives the president authority to order the expansion of currency and de- \valuate the dollar as well as inflate \credit through the federal reserve sys- item. The secretary of agriculture has | wide powers to raise commodity prices {through “marketing agreements, pro- {duction control and processing taxes, This permissive authority for Wal- lace was' granted by congress about the same time as the department of agriculture estimated the nation’s 1933 wheat production at the lowest in 29 |years. This was hailed as a start on jreducing the huge surpluses piled up in recent years and a likely factor in increasing prices. This development and the indica- tions of improving conditions in in- dustry raised questions whether it would be necesesary to use many of ithe powers conferred by the new bill. | Secretary Woodin indicated that the \inflationary provisions might not be \invoked to a great extent if continued improvement was noted. Wallace's first steps to put the farm Program in operation will consist of jarrangements for commodity meetings of processors, dealers and others. He ; Will submit to them his policies for bettering prices and curbing produc- tion of basic commodities listed in the bill—wheat, cotton, corn, hogs, rice, tobacco, and dairy products. Says British Hostile | To German Excesses | ——_ London, May 11.—(#)—Sir John Simon, British foreign secretary, has informed Chancellor Hitler's special {envoy of what Sir John termed the | prevailing English sentiment con- cerning “recent events in the inter- nal policy of Germany.” Sir John conferred with the envoy, Dr. Alfred Rosenberg, privately. An- swering questions in the House of Commons Wednesday, the foreign se- cretary said: “He gave me some information as to recent events in the internal policy of Germany and I explained to him ‘with equal frankness the prevailing jeezemmene in this country on the sub- ject.” The Daily Herald says Sir John bluntly told Dr. Rosenberg that strong feeling was aroused in Britain by treatment of Jews in Germany and that no support for German schemes could be expected from British public opinion. | Alleged Arsonist Is Nabbed by Guardsmen Ellsworth, Maine, May 11.—(®)— Norman Moore, 25, said by authori- ties to have signed a confession that he set the fire which caused $2,000,- |000 damage and made 400 homeless Sunday night, was being held prison- er by the national guard Thursday. Moore, who had been under suspi- cion since the day after the fire, was arrested on a farm at Hancock. In his alleged confession, Moore said “something in my head led me to do this.” He told authorities he had been a spectator at a fire which destroyed © vacant factory here about a week ve- fore Sunday night’s conflagration and had enjoyed watching the flames anc seeing the fire apparatus. CUT GRID PRICES Minneapolis, May 11.—()—Football tickets for University of Minnesota games will be reduced next fall. Man- ager L. L. Schroeder of the athletic department announced season books good for six home games would cost $9.90 including tax, compared with $13.20 last fall. For single games the top price will be $2.50, including tax, jeompared with $2.75 last season.