The Daily Alaska empire Newspaper, June 5, 1933, Page 8

L 9 ST[] GK PR"}ES Depresswn “On Trial” at World Economic Meet [}[]GHET LOSES AGAIN BOOSTED TRADING TODAY Advances of One to Four Points Made—Alaska Jum-au Goes Up NEW YORK. ed June forward 1 4\)mn(l as several min-j the last hour { | changed session The Curb was enerally advanced. including the strength Ities, hibited day Take until speci group. hout the Rails ed Boost the last hour into the lead had passed the measure. back to lag they the mergency Grains jumped House er T ca came finish firm Allied Chemical, Western Union 1 Homestake mining registered of around six points each. il leade with advances of one around three points includ Fe, Union Pacific, New Yoik gains Wet Goods Up Wet stocks up one to more than three points included National Dis- tillers, Industrial Alcohol, Crown Cork, American Commercial Alco-. hol, Liquid Carbonics. Gains of one to about four points were registered for Case, Interna- tional Harvester, American Tele- phone, American Can, Liggett and Myers Tobacco B, Dupont, United Fruit, Aircraft, Columbia Carbon and United States Steel. Alaska Juneau also jumped over| 20. CLOSING PRICES TODAY NEW YORK, June 5.—Closing quotation of Alaska Juneau mine stock today is 20%, American Can 94, American Power and Light 12%%, Anaconda 17%, Armour B 4, Beth- lehem Steel 29, Calumet and Hecla 8%, Chrysler 23%, Continental Oil 14, Fox Films 4%, General Mot- ors 25%, International Harvester 38'%, Kennecott 20%, Packard Mot- ors 5%, Standard Brands 20%, United States Steel 53%, Timken 254%, Curtiss-Wright 3. ——.a———— UNITED STATES T0 LEND CHINA IMMENSE SUM Loan of Fifty Million Dol- lars to Be Made for Cotton, Wheat 'WASHINGTON, June 5—The Re- construction Finance Corporation, with full approval of President Roosevelt, Sunday agreed to lend China $50,000000 to be used in buying American wheat and cotton. The money will be made avail- able to China as purchases are made on the American open market at the present prices. It will mean the purchase of more than 900,000 bales of cotton and 12,500,000 bushels of wheat. Rollex Spain Favors Lo;r;;mg ‘ 0Of Al Trade Barriers| MADRID, June 5-—Salvador de Madariga, Spain’s chief delegate to the League of Nations, says the re- public will participate in the Lon- don economic conference with the | idea of cooperating in measures de- | >d to lower trade barriers. o e Ambrosia Deal 1.50 Skin Freshener Face Powder Cleanser Juneau Drug Co. “The Corner Drug Store” InL The world econcmic and will be (EDITORS NOTE: the first of six daily presenting the aims of the chief | naticns at the world economic and monetary conference which assembles in London on June 12. Today's story, by Oscar Leiding of the London staff of The Ascociated Press, gives the general setting of the gathering and explains what England ex- pects from | | Ry O LONDON, June Depression as the aci court martial, the wo! lml monetary confere held here beginning There will be no d the court convenes in London’s new million-dollar Geology museum in South Kensington—only prose- cution made up of statesmen and R LEIDING with General 5 a economic and financial experts from 50 or more nations. King George, as host, will wel- come the distinguished delegates and, as chairman and chief prose- cutor, Britain contributes her prime minister, Ramsay MacDonald. Cooperation MacDonald Thesis The role will mark a new epoch in the MacDonald career. For years he has been preaching that good will and cooperation consti- tute the world’s means of salva- tion. None has been more impatient than he for immediate remedial action and he has champed at the SALAD OIL— welcomed by King George. | swept bit as delays have put off the big |conference through the past year. “The all-comprehending prob- lem,” MacDonald, “is how to get the riches of the world en-| joyed by the peopi¥ who dwell in it.” THE DAILY ALASKA EMPIRE MONDAY JUNE 5 1933. ondon On J une 1 = Nutwns Seekmg Recowrv monetary ('anlerenne, opening June 12 in London's magnificent new Geclogy Museum will have as chairman Prime Minister Ramsay MacDonald of Great Britain and Delegates from 50 or more packed with problems and isues pertinent to a solution of the world’s vexatious problemw ations will a semble, their dossiers |the world’s ills further include m\—' other interwoven factor—removal of trade barriers. Excessive tariffs, quotas and ex- change restrictions are viewed as leading obstacles to thz flow of of | trade. ‘And Britain, her free trade | | ‘With nearly 3,000,000 of her m-‘(lu\ now but a memory, has in her | sured works her trade steam, and ers alone unemployed, moving under reduced her markets cut by | tottered currencies, Britain has at | first hand a lesson in the need for | remedies As ain To ¢ agreed must 'be of t stabil mo mate It English that tak ing of prices for raw produce, Britain Views It the objective of pros- British opinion is generally t certain salient steps en. They include rais- re- rade barriers and ulti- ization of currencies. is a definite opinion of the also that the return of prosperity will depend largely upon the settlement of war | that of the conf Britain's the rest the genera The extent denced by Iln]h d to and 74 last subject of the world, have prec! ¥ debts. But on the agenda t is not erence. prices in common with been ipitately downward in 1 crumbling of value: of the decline is ev! government figures that with 100 as the whole- index in 1929, had 88 in 1930, 76 in 1931 year, Trade Barriers Loom Large ENTIRE STOCK At Cost BUILDERS SUPPLY CO. conditions to the working satisfactory panacea for planations, NEW BLOUSES Copied from those shown in the new 42nd Street Play, $1.50 SKIRTS in Harmonizing Colors, $2.75 LEADER DEPT. STORE GEORGE BROTHERS “NATIONAL BRAND” (Best on the Market) gallon cans At GARNICK’S, Phone 174 jown tariffs a barg intends to use. he country has a primary m(mA} seeking freer trade through- | 0\|' the world because, with a great| population packed into a small| ea, the livelihood of many of its| ople is dependent upon the suc-| of export indust There is little disposition among | thorities here to believe thét| Britain’s use of her bargaining weapon will be hampered by the Ottawa agreements, against which most frequent criticism has been that British hands are now tied. The answer given to this criti- cism is the citing of rece: trade agreements w Argentina, Den- mark, Norway, Sweden and Ger- many. Weapon Held Powerful If, the reply goes, success can be tained through discussions with dividual countries, it can only ean that the bargaining weapon would be no less powerful in a comprehensive discussion with all countries at the economic confer- ence. America's move in stepping off gold has met with a variety of ex- ning " weapén | ce. TENNIS FIGHT, SINGLES TITLE (Australian Champion Wins | Honors for First Time ‘ in Eight Years AUTBUIL, France, June 5—Jack | Crawford, ‘Australian tennis cham- {pion, today defeated Henry Cochet and won the French Hard Court |'Tennis singles title. This is the | | t time an invading player has won the title since the event was the world eight |thrown open to |years ago. |a bolstering of the case for an in- national currency policy. The breakdown of the time- honored method of anchoring na- tional currencies and prices to gold ms to have set British opinion ly against any return until the causes of the breakdown are defi- nitely eliminated. |SIX ITEMS STRESSED ON LONDON AGENDA GENEVA, June 5—The League of Nations, world economic conference will be Z I under whose auspices the! theld jn London, has prepared a| program in six parts. The divis- ions are: | Monetary and credit policy. | Prices. Resumption of the movement of capital. Restrictions on interna tional trade. Tariffs and trade treaties. Organized control of production | and trade. Joseph Avenol of France, suc- ssor to Sir Eric Drummond as tary general of the league, pr robably will present this agenda| to the lm, ;,athermg BI6 STRIKE OF FISHERMEN 1S ENDED SUNDAY |Agreement on Pnces to Be; Paid on Columbia River Reached ASTORITA, Oregon, June 5—The Fishermen's_ stri ended last night! when representatives of 4,000 fish-| ermen reached an agreement with ciation that eight cents a pound will be paid for chinooks and blue backs until August 1, four cents from August 1 to August 20 and three cents a pound from August 20 to August 25. representatives of the fishermen every two weeks and discuss the market. The cannery workers will also meet{ with the packers anytime to discuss wages and working condi- tions. ‘Some of the fishermen went out in their boats last night and oth- ers early this morning. ‘The strike has tied up commer- cial fishing on the Columbia River since May 1. e esrsy but its bearing on Brit- ain is accepted in many quarters as Promote Pn;spemy with Pant- er's Ink! MOOSE BAS Mandarin Good Music ANNUAL MOOSE BASEBALL | DANCE For the benefit of EBALL CLUB Ball Room SATURDAY, JUNE 10 Admission $1.00 the Columbia River Packers Asso-| | The packers agreed to meet the| |the condition which physicians be- | Greatest Fair Opens Tllustrated News photo. 2 - R ] Thousands of men, wemen and children from every corner of the nation and even from distant lands, are shown here moving toward the main gates of A Century of Progress Exposition as the greatest fair in the history of the world opened. International CLAUD HELGESEN 00ES SOUTH TO ENTER HOSPITAL Juneau Man, Seriously 1Il, Will Receive Medical Treatment in Seattle Serjously sick, his illness having been diagnosed as tuberculosis of | the spine, Claud Helgesen left on| the Yukon today for the South, in| the care of Martin Lavenik. Mr. Helgesen will enter the VE(- eran’s Hospital in Seattle. Mr. Helgesen just completed the strenuous job of Clerk of the House | during the legislative session which ended a month ago. He had not been feeling well for some time and left shortly after the close of the session for Tenakee Hot |Springs where he hoped to recover {his health. After his return to; | Juneau, X-ray pictures disclosed lieve to be the cause of his illness and he was ordered south for treat- | ment in the Veteran's Hospital. | He will be joined in Seattle by his wife and daughter, Susan, who; left for Juneau on ths Princess| Norah to attend the Rebekah Con- | ference in Tacoma. — - — Otto W. Geist, of the Alaska Col-| lege, who for several years has| been conducting scientific work and | excavations on St. Lawrence Isl- and, arrived in Seward recently to| await the North Star on which he expected to go to the far-flung | and isolated Bering Sea island. Elizabeth Barron, of Sitka, Alaska, {Mrs. Elizabeth Barron, Of Sitka, Passes Away) PORTLAND, Ore., June 5.—Mrs. aged 63 years, died in_a hos- pital here after two weexs’ treat- ment. Redman, terment. A daughter, € survives, will be shipped to Sitka for in-' Mrs. H. C. and the body MORGAN PROBE IS HALTED FOR SEVERAL DAYS Executive Session Being Held to Determine Future Course WASHINGTON, June 5. — The course of the remainder of the Morgan inquiry rested today upon the decision by the Senate inves- tigating committee whether to dig all the way into the income tax returns of the individual members of the banking house. An executive committee meeting has been called for the purpose of settling the protest by counsel for Morgan which halted the hear- ings last Friday. The Senators are said to have information that some of the younger partners draw $100,000 yearly salaries in addition to shar- ying what earnings the Morgan bank may net. Inside Information The committee members were told at the executive session by Attorney Pecora, the committee's | counsel, that Thomas S. Lamont, a Morgan partner, sold stock to his wife which was later rebought in connection with his income tax return in 1930, but the committce | counsel said he contends this as being illegal. Charles Mitchell, i former Chairman of the National City Bank, is now on trial in New York for income tax evasion re- sulting from sale of his stock to Ihns wife and the Government con- tends this is not a bona fide sale. The committee meets again to- morrow to decide whether to go into the income of all members of ,the firm or go into the personal stock transactions of only William | Ewaing and Harold Stanley. mmmmo» SEE YURMAN The Furrier Alterations . . Glazing . . . Storage Summer prices now in effect! 9400000000 NEW LEGAL WINE Reduced to not more than 4% alcohol Bottled in b ond Sparkling—221/5 ounces CALIFORNIA BURGUNDY $1.00 CRESTA BLANCA Sparkling Burgundy Bottled in bond—27 .ounces . $1.50 PINK CAP Champagne Type Sparkling Burgundy—15 ounces 15¢ HARRY RACE DRUGGIST “The Squibb Stores of Alaska”: -