The Daily Alaska empire Newspaper, July 24, 1928, Page 1

THE DAILY ALASKA EMPIRE “ALL THE NEWS ALL THE TIME” THE DAILY ALASKA FMF"IRE, TUESDAY, JULY 24, 1928. MEMBER OF ASSOCIATED PRESS AUTOMOBILE PLUNGES OFF FERRY CRAFT Five Are Carried Down in| Lake Washington and Drown — | SEATTLE, July 24.—Five Jap- anese were drowned when .| Suda lost control of an automo-| bile which carried himself, wife| and six children, and he clung! "iyhelplesly to the wheel of the| machine while it ran 'hruui:hi the ferry Mercer and plunged into Lake Washington last night Three children were rescued yn-| ious res of pasenger waiting to| the ferry at 11 o'clock| night were thrown into a gcreaming panie. Suda’s the last one in a line of 2 ing on the slip for the to go aboard, At the shouted signal “All} Ahoard,” the Japanese left the line of waiting cars and drove his machine furiously down the slip cnto the ferry while ticket | takers made a vain attempt to stop it. The auto veered and| then sideswiped the wall of the; boat, smashed barriers and drop- ped into the lake. Witnesses rescued three chil- dren. CHARGED WITH | ATHENS, .Greece, July 24, General Theodorus Pangalos, for- mer Dictator of Greece, has been | freed from the prison cell in| which he has been awaiting trial on charges of treason. The mnew Cabinet headed by Eleutherios Venizelos ordered the| | iencral’s release immediately after it had igsued a decree dis-| solving Parliament. The Cab- inet decided that further deten-) tion of Pangalos was not ju tifiable since he had heen ordered | | impriscned by a parliamentary commission and the dissolution of Parliament would end t existence of that commission, Elections for the mew Parlia- ment are to be held August 19| and the Chamber of Deputies n at that time will meet on sptember 17, —eeto—— Russia Asked To Continue Arctic Search MOSCOW, July 24.—The | Soviet Rescue Commission has received an official re- | quest from the Italian Gov- ernment to search for the still missing members of the dirigible Italia crew. The Italian Government has of- fered to finance repairs to | the ice breaker Krassin, sup- | ply coal and food as well as | paying for two airplanes which are also requested to be used in further search. ] inj | 1l fifin J. Raskob, chairman of the finance committee of Generar d otor ch personal friend of Governor Alfred E. - Surich for the presidency, was chosen chairman of Plane Flying To U. S. Delayed For Repairs HORTA, July 24— The French seaplane La Fragate has been hoisted on the kwater to receive minor repairs- and will be un eed on the Tr: flight to New York Bermuda, until the re completed. HORTA, July 24— The French fliers announced this afternoon they hope to con- tinue their flight tomorrow. Acceptance Speeches Of Hoover and Smith Will Be Broadcasted NEW YORK, July 24—The Na tional Broadcasting company an- nounces that acceptance speeches of Herbert C. Hoover and Gov Al Smith will be broadeast to the entire nation as a public service without cost to the two Presiden- tial candidates. he Hoover speech will be on August 11 and Smith’s at a date to be zet by him, prob. ably the week of August 19, — e A. J. QUOTATION NEW YORK, July 24.—Alaska Juneau mine stock is quoted to- day at 4. FRENCH RAILROADS PAYING OFF DEBTS PARIS, July 24-—French rail- ways, which have had hard times since August 1914, are nearing thé point where income is suffi- cient to meet expenses. Progress has been aided by re- cent approval of the Ministry of! Public Works for a further in- crease of 12 percent in freight tar- iffs. Year after year the car- riers have been increasing passen- ger fares and freight rates in an offort to meet the depreciation of the franc and equalize income and expenditure. At the present time fares and freight rates are more than four times as great as before the World war. One of the principal reasons as. cribed for difficulties in French railway finance has heen the enor-‘ mous expansion of capital. Many of the loans were used in improv. ing property or service and in elec- trification. Some were floated in the United States, and these, it is expected, will be paid off in another 15 years or so. Representatives of the indus- tries and the farmers have pro- tested that high rates make their markets, regional, limit distribu- tion and hinder export trade. They declare that rates in some parts of the country are 12 times those of pre-war days. The government, largely respon.- sible for the bonded indebtedness of the roads, takes 25 per cent on passenger tickets and five to tem per cent on freight charges for taxes. the Democratic national committee to succeed Clem Shaver, ~ 'RASKOB WILL | devote DEVOTE TIME T0 CAMPAIG Resigns from Two Com- mittees of General Mot- ors Corporation NEW YORK, July 24 John Raskob, Chairman of the Demo- sratic National Committee, has resigned the committee posts he held with the General Motors to his time to the political campaign. The resignations, ac- cepted by the company, include chairmanship of the Finance Committee and membership of the Executive Committee, It is understcod that will resume his duties company after the November election. Meanwhile he will re- main as Vice-President and mem- ber of the Board of Directors. e .,—— Bert Hassell Plans Take-Off Tomorrow July 24— Raskob with the ROCKFORD. 11, Five o’clock tomorrow has been set as the hour of Bert Hassell’s take-off on his proposed one stop fligh to Stockholm Weather ap- pears to be satisfactor) —_——————— Reported that Shot Is Taken at Morones NEW YORK ently authenti ing here said Luis mer Minister Labor in Mex- ico, was fired upon as he was leaving a theatre Sunday, before the assassination of Gen. Obre- gon, and was wounded in the thigh. July 24.—Appar- advices reach- Morones, for- Mayor of Vancouver Struck on Head by Propellor of Plane VANCOUVER. B. C., July 24— Mayor L. T. Taylor, of Vancouver, was sariensly injured yesterday af- ternoon when he was struck on the back of the head by the whirl- ing propeller of a tri-motor mon- oplane in which he had flown from Victoria with civic officials of Victoria and Seattle in’inaugurat- ing of the tricity air route serv. fee. HOOVER AND JOHNSON IN | CONFERENGE California Senator Says Nominee Will Dis- cuss All Issues STANFORD UNIVERSITY, Cal, July 24--Herbert C. Hoover and United States Senator Hiram ! Johnson discussed the political _ situation for nearly two hours yes I terday and were apparently in ac- cord at the end as to all issues of the campaign Senator Johnston decli state what the issues aid Hoover will make clear in his acceptance speech on August 11, “I came out here at the request lot Mr. Hoover,” said Johnson. “I! was delighted to lunch with him. I am for the Republican candidate | for president. 1 am a republican | candidate for the Senate.” | Senator Johnson predicted that California will go Republican with-! out a doubt hut declined to state by what probable majority. i ————o———— | CLAIM REBEL SANDINO HAS FLED COUNTRY to Coolidge by Spec- | ial Commander y 24—/ s been in- SUPERIOR, W President Coolidge b [formed through the report of iRear Admiral David Seller |Commander of the special se squadron that activities in | asgua on the part of Rebel, |Leader Sandino have apparently | ceased entirely and Sandino has fled the country ] The report showed that dif- ferent bands which have kept, the country in a turmoil since! Henry Stimson arranged a truce| between the warring factions,! yhave fairly well surrendered and! |iven pledges of future law abid-! {ingness | ) - eee — - ill Soon Complete 30 Years of Public Service in Oregon SALEM, Ore., Inly 2 i cf Sam A. Koser, tary of State for Oregon s an- nounced by Governor Patterson Kozer resigns September 1 to be- come State Budget Director, an office -created by the 1927 Leg- islature. It is expected that the Governor will appoint H. E. Hoss of Oregon City, his former retary and Republican candidate fr Secretary of State, to fill the vacan Kozer is in his second term as Secretary of State, and at the end of this year will have completed 30 years in State pub- lic service. -~ Jilted Woman Is Now Giving Aid To Poor Ckildren MADRID, July 24. — Senorita Mercedes Castellanos, whose en- gagement to Premier Primo De Rivera was cancelled some time ago, is devoting part of her for- tune and much of her time to the foundation of an asylum and workshops for the poor children of Madrid. Rumor * mongers in the past few weeks have circulated many reports concerning the Premier’'s former fiancee, but it is ascer- tained that she is continuing her usual social round as well as her social work, which is well kncwn in Madrid. The engagement of Senorita Mercedes Castellanos to the Pre- mier was reported to have been broken because, in defiance of a Spanish custom, she was seen at the stock exchange accompanied by two men. sec- Report on Nicaragua MaJ:? " | market nervousness, That Roald Amundsen and the wccompanied him are still alive and their rescue imminent is the reassuring news which filtered mnto old world capitals. The he first to reach the United States of the men four men who above picture, PRICE TEN CENTS They"fe L(V)S{*Withhz'&inunds;n who are lost with Amundsen, shows, left to right, M. Brazy, chief mechanic; Major Rene Guilbaud, pilot; Lieutenant Cuverville, navi- gator, and M. Valette, radio operator (International Ilustrated Newsd Where Heroes Battle Arctic Ice The snow never.melts in the pictured by this map, the bleak, unfriendly wastelands of the Arctic, where now is being snacted the most dramatic rescue in all the frigid regions (Intarnational Niustrated News) history of polar exploration. The map shows the approximate location of those parties which still are being sought by rescuers and the posi- tion of the various searching expeditions, Street Wonders if bebt Reduction Is Blamable For High Money Rates NEW YORK, July 24.—Wall, Street is turning ov in its col lective mind the interesting theory | that a too rapid reduction of the| public debt may he responsible for the troubled credit situation,|fect upon the market for govern- | high rates and general | I It is estimated that in oigm] years the Treasury has put more than $7,300,000,000 into the money market in the form of surplus| funds or eredits, or about 1,000, 000,000 yearly. This action "i seen as providing a plethora of}| funds which the leral Reserve system and its member banks are| said to have been finding it dif- ficult to accommodate and which vommerce and industry have been unable to use. ‘Phe source of ‘Ireasury funds was the conversion of approxi- mately $3,700,000,000 surplus co! lected from taxes int reduc. tion and application to the sink-| ing fund, about $2,075,000,000, to| the same purpose. Some money debt $1,180,- 000, 000 is estimated to have been received from foreizn governments and miscellaneous sources, while redemption of certificates of in- debtedness, Treasury notes anil Liberty bonds is said to have made up the balance. It 18 argued that this continued and extensive flow of funds into the market made possible the building of the greatest specula- tive structure the world ever has seen and that efforts to control the nation-wide . wave of speculation produced money market manipula- tions quite as disturbing and un- desirable, Federal Reserve ef. forts to this end, it is pointed out, have had the most depressing ef- ment securities rather than the stock market. upon Federal Reserve authorities, however, are inclined to view such a theory as untenable, if not en- tirely fallacious. They-declare that while \the Federal Re red count rate was ralsed in an effort to check the record bank horrow- ings, which we used loans upon “stock market collater it was only nature taking its course that caused the tottering and ¢ lapse of some sections of Wall Street's house of paper under the pressure of restricted and high money rates. The Federal Rescrve holds that high money rates are due chiefly to gold exports, incr lemand for currency, chapge: in reserve requirements or in Federal Reserve bank deposits and sale of govern- ment securities, It is pointed out that nearly $300,000,000 in gold has been exported from this coun. try during the first half of year, largely to meet stabilization requirements of European govern ments, while ‘other factors for tighter money™ have been equally apparent, Xports ot gold represent a loss of reserve funds and consequently banks have beep forced to in- crease their borrowings at the al, | | | . iIsland where Walter Reay the | Federal Reser brokers' loans, as loans “for e hank Moreover, reported by banks account of others” have inereased some $800,000,000 during the first half, and have shown no appreciable tendency to- ward reduetion. It explained also much as the Territory funds largely from the who to a great degrec holders of the funds which the market, the flow of funds back in- | to the market is merely the trans- fer of money from one pocket to another, without any change ‘:um #otal available. that inas. obtains its taxpayers are activate |Eagle Rock Plane Is { Coming North to Spot Salmon, Baranof Island | SBEATTLE, July 24-—An Eagle | Rock plane is enronte to Saranof! attle pilot, will spend the summer a8 an aerial fish scoul, spotting 'v\ulmun for trollers, The plane is labnnr.l a scow towed north by the motorship Dorothea gt i President Coolidge Is Invited to Make Anniversary Speech INIDANAPOLIS, July E ident Coolidge will invit- ed to make the principal address at the 150th anniversary of the surrender of Fort Sackville by the British to George Rogers !Clark and his men, to be held at Vincennes February Such a move was voted at the meeting of the George Rogers {Clark Memorial Commizsion here. he Jspecch and a 5, 1929, DEMOCRATIC NOMINEE BE TOLD AUG, 22 Notification Wil Take Place on Steps of N. Y. Capitol Y., July Smith will nomination United States ALBANY, Gov. Alfred E notified of his President of the by the Democrati¢ Party on the evening of August The cere- mony will take place on the east of the New York State The notification speech will made by Senator Key Fittman, who was Chairman of the Committee on Platform and Resolutions at the Houston con- vention. Both the notification peech and the speech of aecept- will be broadcasted by the Nation-wide broadcasting , net- work of the National Broadcast- ing Company The date for 24.— be for steps Capitol be the notification | was agreed upon after consider- able difficulty in making radio urangements because of the ne- cossity of shifting fixed programs that already had been announc- ed Work on Speech Not Started inite time for the ceremony had been agreed upon was made by GGov. Smith, who sald that while he had mot begun the actual drafting of his acceptance speech, it would take about an hour for its delivery. He calculated that Senator Pittman would need fif-. teen -minutes for the notifieation dental business. The hook up { would begin, he said, at 3 p. m., lastern Standard Time. Smith Discounts Claim of Strengt! At the conference with news- papermen today, Gov. Smith made it plain that he is not disturbed by claims of strength emanating from Republican sources. One reporter said ‘‘Senator Moses claims the Republicans will ear- ry New Yerk by a large ma- |jority.” E Gov. managers Smith came back, “Don’t always claim every- ithing in sight? 1 was elected Governor four times against clafms to the contrary."” FRIENDS URGE SHORT . AND SHARP CAMPAIGN ALBANY, N. Y, July 23— Gov. Alfred E. Smith is being urged by some of his political advisers that in order to pack a punch in his Presidential cam- paign it should be condensed into the eight weeks immediately pre- ceding the election. In this way they figure he can best build up a climax just before the voting in early November. As far as Gov. Smith cerned, he has reached no de~ cision when he should take the * road, where he will go or how many speeches he will deliver. is con- N. Y. DEMOCRATS TO NOMINATE STATE TICKET IN OCTOBER NEW YORK, July 24.-—The Democracy of New York State will meet at Rochester the first or second of October to pick a Warrant for | | Hoover’s Arrest BELLINGAME, Cal, July 24.—A warrant for the ar- rest of Herbert C. Hoover, charging violation of the mo- tor vehicle laws, Will not be served, according to Justice of the Peace, Perry Jack- son. The warrant was is- sued in October, 1925, and the case was set for a month later but Hoover was out of the state and it had been forgotten until a resident re. called the situation upom Hoover's return. He was charged with driving with glaring headlights. . The annompncement that a def- - uother fifteen min- futes would be réquiréd for inci- SET DATE TO NOTIFY GOV. AL SMITH FIVE PERSONS MEET DEATH, SEATTLE He'll Lead Democratic Parade Tl ol