The Bismarck Tribune Newspaper, October 19, 1937, Page 1

Telephone 2200 | ———— Wall Street Slum The Weather Fair tonight and Wed.; no decided change in temperature. THE BISMARCK TRIBUNE BISMARCK, N. D., TUESDAY, OCTOBER 19, 1937 PRICE FIVE CENTS UNEXPLAINED DROP 19 Found Dead in _ [EXPERTS DISAGREE Plane Wreckage IN ANTICIPATED TAX REVENUES I CAUSE $695,245,000 Net Deficit for Fiscal Year Estimated by President DETERMINED TO RETRENCH Says Expenditures Must Be Cut or Federal Taxes In- creased Again Washington, Oct. 19.—(P)—A big, unexplained drop in estimated rev- enues has postponed until next year,| at least, the long-sought goal of a balanced federal budget. President Roosevelt, in a revised budget statement, estimated at $695,- 245,000 the net deficit for the fiscal/15 passengers year ending next June 30. Inclusion |¢ead.’ of debt retirement, he said, creates s gross deficit $200,000,000 higher. Despite the backslide since January, ‘@ gross deficit of $895,245,000 would be Jess than for any fiscal year since 1930. Last year’s gross deficit of $2,- ee was the smallest since The president fully noted the difference between net and gross’ deficits in his statement. ‘ He said the estimated net deficit was $2012,000,000 less than the net deficit for the last “Unless federa: taxes greatly increased, have to be brought ing tax receipts.” ‘This statement, together mated this year’s tax receipts it at $7,- 293,000,000. note ite Noting that these two items are primarily dependent on business con- ditions, some tax authorities blamed the lowered estimates on the stock market drop and evidences of lessened industrial activity in some fields, : 3 E i by ime and because of a drop timated revenue since then 000,000, He noted increased tures $34,000,000, but Detnteed ‘against them “savings under other items” of $323,000,000. 1937 .. - 5,293 1938 (est.) 6,650 1545 885 (*)—000,000 omitted on all figures. 4 Worst Dis. Al’ 19 occupants of the United Airlines “Matnliner” tendent here, who received the call johnson E i E g f é E : i 5 3 | Stre p Is Overco Budget Balancing Again Deferred ON CAUSE OF DROP INU. §. REVENUES) se mss sgn sn administration Monday night. The city commission voted to re- turn the grant to the federal agency because Bismarck property-owners blocked special assessments which were to have financed the city’s 05 per cent share in ® $169,000 payment popecvement project in the business A proposal to build a municipally- owned armory was presented to the commissioners by Herman A. Brocopp, commander of Company A, and L. V. Miller, commander of headquar- ters battery, Third Battalion, 185th "iThat the: Mom building ry orial Ic is not large enough to adequately accom- modate the many offices and organ- izations which now use it, severely in- conveniencing the national guard, and that the city would derive consider- able revenue from an armory whet it was not being used by troops were the arguments advanced by Miller, who acted as spokesman. Would Use' WPA Labor Miller suggested that WPA labor could be used on such a structure, but said national guard officials had ne definite plan for raising the rest of the money, ‘er in History of Airlines Occurs in Wyom- ing Mountains Her Life Ends Stock Market Slump Laid to Lessening of Federal Pump-Priming UNCLE SAM STOPPED LOANS Others Think Unbalanced Bud- get Has Discouraged Cred- it Expansion Salt Lake City, Utah, Oct. 19—(7)— were found dead when L. D, Cuddebach, division superin- Oct. 19——The oe @ backdrop of plunging securities values, One school of economic thought Mrs. E. A. Tostevin se & ** * STROKE FATAL FOR MRS. TOSTEVIN, 67 AT MANDAN HOME Funeral Services Arranged for Thursday for Wife of Daily's Publisher ROBINSON'S SENATE SEAT IN ARKANSAS Man Called ‘Anti-Roosevelt’ Scores Major Political Upset at Polls federal jo ury, regardless of which way the fi- nancial weathervanes swing. JAPANESE RETREAT FROM GROUND THEY jets = CAPTURED MONDAY Chinese Fighting Desperately to Retain Nerve Center Near Shanghai fl il st i ¢ é i agro if nl! a 3 i Q E ag a a A if ave #8 iH A 5 i F rE i 3 FE ze f H 5 g Shanghai, Oct. 19.—(#)—Chinese troops struck back at Japanese Tues- 4G i : Richholt District at Clinic Oct. 22, 23, 26 Fifty-three children of pre-school lage were examined by Dr. August C. Orr at the pre-school clinic Mon- day in the dining room of the World War Memorial building. Children examined were from the Will school district. Children pre-school age of the Richholt school district will be ex- amined at the clinic Friday, Satur- day and Monday. An unusually large number to un- dergo examination have necessitated extending the clinic into next week. Hoover Thinks Borah Misunderstands Call New York, Oct. 19.—(#)—Former President Herbert Hoover said Tues- day he did not believe Sen. William E. Borah “has been fully informed i it i E zee ent ‘; TO REVEAL TOPIC Says He Hopes to Address the 17 Million Who Voted for Him Last Fall i Japanese had lost the half-mile gain they had made Monday in one of the Most severe engagements of the pres- ent warfare, In that engagement an entire detachment of 1,400 Chinese, and 3,000 Japanese were Topeka, Kas., Oct. 19.—(7)—Alf M. Landon, referring to his forthcoming radio speech tonight, said “I've called la meeting tonight of the 17,000,000 who voted the Republican ticket last fall and the millions of others who are ‘now opposed to the policies of the na- administration.” which lies sbout five miles north of Reports from North China said the Japanese advance into North China provinces had been slowed. Crash Victim in Critical Condition tee vt ag a B z jay.’ “The public did not anticipate the turn the administration would take Either an extension could be bulit on the east end of the present Me- muorial building, simplifying water, sewage, and electric connections, or a separate structure could be erected, Miller said. He said he thought $20,000 or $25,000 would build an adequate armory. The commissioners referred the pro- posal to the city planning board. Ordinances were introduced which will create two new sewer districts and one new water district. The sewer districts will be on First St., from 200 feet north of Avenue D to E and on Washington St. from Ave. B to C on the west side of the street water district will be on » from Ave. C south of the for Bismarck Boy Scouts who will patrol the city Halloween night under supervision sociation, The up to $50 for refreshments. | Too Many Wives; | Hayden Is Jailed Marrying a Turtle Lake girl in Washburn without bothering to divorce a~ wife in Minneapolis brought Ray H. Hayden an 18- month sentence in the state peni- Leet at Bismarck, : Monday. Hayden's wife in Minneapolis shildven.. 25 NEW DRUG TAKEN OFF MARKET AFTER OKLAHOMA DEATHS -elect | Preparation Used in Infections May Have Caused Deaths Chicago, Oct. 19.—()—The Ameri- ‘can Medical association undertook experiments Tuesday to determine the properties and effects of an elixir of sulfanilamide after announcing the drug preparation apparently caused the death of eight persons in Tulsa, A warning against unrestricted use preparation was contained in an editorial of the Journal of the Ameri- can Medical association. Dr. Morris Fishbein, editor of the journal, said shipments of the aration to drug stores throughout ‘country were being recalled. Walter G. Campbell, chief of the federal food Washtngteo precaution: = ay nine utionary 8 ve been taken to remove it from the market. Dr. Fishbein termed sulfanilamide 9 “very valuable” new drug used prin- ‘cipally in the treatment of streptoco- ccus infections, meningitis and gon- orrhea, He warned, however, its ef- fects might be dangerous if it is used in improper quantities and without a Coctor’s advice. Rites for Infant Fire Victim Set Funeral services for Josephine Novy, infant daughter of Mr. and Mrs. An- ton Novy, Wing farm couple, who was fatally burned Monday, will be held at 10:30 a. m., Wednesday at St. ‘Ignatius cath hurch, Wing. Father George Kovitch will offic- iate. Burial will be made in the Wing ‘cemetery. Four small boys will be pallbearers, ‘Wednesday morning, until the fu- :|neral, the body will lie at the home of vention.” $50,000 Ransom Is site?! Chicago, lof the federal bureau of investigation |or captivity confirmed theories the Charlee 8. Ross, retired greeting card |{amlly -had been double-crossed and manufacturer, had paid $6000 ran- | ‘creased fears that he had died in the " f i ; Paid to Kidnapers Oct, 19.—UP)—D. M. Ladd| Wailure to free Ross after 24 days| oy the child’s grandfather, James Novy, in Wing. Besides her parents, the baby fire victim leaves four brothers and sis- ters, Mary, Jimmie, Joe, and Billy. Virginia Youth Wins Future Farmer Award Killdeer Legion Meet Is Attended by Crowd .N, D, Oct, 19—U)—The of the American Legion broke all attendance records for the Missouri Slope when 410 members at- venset @ econvention here Monday Bismarck Returns $76,050 Gift to Uncle Sam’s PWA Permission was denied Louis Caru- fel to construct a warehouse of box- cars because of a prohibitory city ordinance, Action was deferred on a request by a local representative of the Peo- ple’s Congress for Democracy ani Peace for use of the auditorium for a free lecture the night of Oct. 29. Two chlorinators, one a standby chlorinator for the filtration plant and the other for use in the swimmtaz Pool, were bought from the Wallace and Tierman company, Minneapolis. Their net bid of $1,782 for the two machines was $68 under the next bid. Permission was granted the Busi- ness and Professional Women’s club ot Bismarck to use the city auditor- ium for a benefit concert for Louis Kaufmann, violinist. The charge will be $15. W. G. Worner, chairman of the special Bismarck-Burleigh county tax Payment committee, appeared with proposals for settlement of long-de-| linquent taxes on several Bismarck properties by reduced payments. Thouh they took no formal action the commissioners indicated they would approve county acceptance of the sums, after being satisfied that ‘sagen city assessments would not cut TWO BISMARCKERS MUST STAND TRIAL IN EFDERAL COURT Perry Benner and Arthur Boe: Under Indictment for Mis- handling Monies = Two Bismarck men. wete’ afrested here late Monday as the’ result of in- dictments against them returned by the eee jury which met re- for the First National bank. Benner faces two indictments. One charges him with forging an appli- cation for a retail liquor dealer's ii- cense. The other contains six counts alleging embezzlement and misap- propriation of funds collected by him for federal liquor licenses. Approxi- ‘| mately $600 is involved. Boese is accused of making false entries in the bank’s books. The spe- cific count is that he entered a with- drawal slip for $341.06 against a sav- ings account which did not exist. Boese was arraigned before U. 8. Commissioner 8. A. Floren and re- leased under $2,500 to appear for trial as soon as the federal building here is ready for occupancy. Benner was arraigned before U. 8. Commissioner J. H. Noakes, Mandan, and slso was released under $2,500 Lemke Opposes Crop Plan of President's Rapid City, 8. D., Oct. 19. Charging that the president has given only “lip service” to the farmer, Con- gressman William Lemke of North Dakota announced during a visit here that he was in opposition to the crop control program egivocated by President Roosevelt and Secretary of Agriculture Henry Wallace. The North Dakotan indicated he would press for legislation that would give the farmer cost of production plus a reasonable profit at the special session of congress called for Nov. 15. Former North Dakota Man Killed in Crash Lake Geneva, Wis., Oct. 19—(7)— Arthur Holloway, 35, Lake Geneva, formerly of North Dakota, and A. H. Childs, 35, Lake Geneva, were killed Sunday when their car missed a curve on the highway near here and rolled over four times. William O'Rourke, 37, Lake Geneva, escaped serious in- jury. Porcelain Pieces Are Given Duke, Duchess Meissen, Geramny, Oct. 19.—()— The Duke and Duchess of Windsor Tuesday were given mementoes of 3 visit to Meissen, Germany's great por- celain manufacturing center. The YOUNS| duke received the figure of an India elephant and the duchess @ yellow vase, both in porcelain. Thunderhawk Man of ‘ A A Dies in Hospital John W. Bohl, Thunderhawk, 8. D., died in a local hospital at 5:20 a. m. Tuesday. He was 68, and had been in the hospital since Saturday. Fu- neral arrangements have not been completed. The body is at Convert’s. MURDER VICTIM FOUND Grafton, Ohio, Oct. body of Louise Hornbeck, 19, was found in a vacant lot Tuesday in this Lorain county community. Police said she was killed by 2 blow on the head. me SCENE OF HYSTERIA ENDS AS PRICES OF STOGKS COME BACK Trading Starts With Securities Continuing Nose-dive of Monday TICKER TAPE FALLS BEHIND 7,500,000 Shares Change Hands as Exchanges Roar With Confusion i New York, Oct 19.—(7)—In a vax liant recovery after hours of the heav- jest selling in years, the stock market regained some of its equillbrium Tues- day and leading shares wiped out # portion or in some cases all of earlier losses. In the neighborhood of 7,500,000 shares were traded in the exciting ses- sion, the most rapid fire since July, 1933. Some stocks had lost as much as $15 at one time but the final-hour rally, surprising in its breadth pushed closing prices higher. Some utility, metal and oil shares finished with fair gains for the day. All day long the ticker tape lagged minutes behind the floor trading as the wave of selling extended Mon- day’s orders, so great was the confue sion. Corporate bonds likewise rallied after a heavy break in secondary issues ‘There were scenes of wild confusion at the opening as shouting brokers rushed to execute orders pouring in from all over the country and abroad. As trading swung near the third hour it was confirmed some of the big investment trusts had switched to the buying side and were taking blocks of stocks which they considered “bar- gains” in the demoralized state of the market. Rumors of London buying fear psychology manifested during the panicky periods of 1929, 1931 and 1932. Two blocks away, in the New Youk similar scenes took in sympathy with those on the big board, Hear Roar Block Away At Broad and Wall streets, the roar from the exchange floor could be heard a block away. The great black annunciator board at the end of the trading room “showed white” as quotations tumbled over themselves in the hurry to keep up with trading. The twitching call boards of 300 and more brokers would show at a time, compared with the phone and others were in the van of attack, but likewise, when partial re- covery set in toward noon, recovered @ portion of their losses, resisted dropped as much as $8 per $1,000 face value, Babson Still Thinks Business on Upgrade despite a jittery stock market of recent weeks. Ralph B. Wilson, vice president of Babson’s Reports, told Cleveland in- vestors and businessmen Monday night there was not a single thing to indicate the country is now facing re- adjustment. 19.—(?)—The | Morrison, fugiti ington to stand trial on a charge ot using the mails to defraud.