Evening Star Newspaper, April 3, 1929, Page 7

CONGRESS MAY ACT ONMARKET TANGLE Probe, to Be Sought at Spe- cial Session, Seen as Result of Wide Discussion. By the Assoclated Press. Congressional contributions to the ‘widespread discussion of the stock mar- ket credit situation continue to multi- ply, with indications growing that somg sort of action, at least in form of investigations, will be sought during the special session which begin April 15. Reiterating his ‘opposition to use of Federal Reserve Bank facilities in stock speculation, Senator Glass, Democrat, of Virginia, one of the authors of the Federal Reserve law, has announced that he is ready, if the opportunity offers, to propose new legislation on the subject at the special session. He has not disclosed the nature of the pro- posal he has in mind, but he said yes- terday that he thought legislation was needed to insure control by the Federal Reserve Board over money which might be used in speculation. Replies to Fish Statement. Replying to a statement by Repre- sentative Fish, Republican, New York, assailing his recent attack on the action of Charles E. Mitchell, president of the National City Bank and a Class A director in the Federal Reserve System, in making $25,000,000 available to the market during last week’s credit crisis, the Virginia Senator declared he “did not heedlessly rush into print about this subject.” “I was asked what I thought of the use of Federal Reserve bank facilities for the promotion of stock speculation,” he said, “and I unhesitatingly declared that the use of the Federal Reserve fa- cilities for stock speculation was textual- 1y in violation of the law, and that Mr. Mitchell, having aided and abetted such violation of the law and having flouted the authority of the Federal Reserve Board, should be properly disciplined.” Senate Committee “Hands Off.” ‘The possibility that the House bank- ing committee may conduct hearings to “analyze the brokers’ loans and their place in the country’s business and credit structure” was held out by Chair- man McFadden. He did not share Sen- ator Glass’ opinion as to the need for the new legislation, however, holding that the Reserve Board already pos- sessed sufficient power and was capable of handling'the problem of restraining brokers’ loans through administrative measures. His committee, however, may be organized at the special session to draft rural credits legislation, he said, and may have an opportunity to inquire into the situation. A hands-off policy, for the time being at any rate, also is favored by Chairman Norbeck and Senator Fletcher of Flori- da, ranking Democrat of the Senate banking committee, but Senator King, Democrat, Utah, is prepared to ask it to investigate the situation. AIR HIGHWAY PLANNED. Georgian Heads Southern Associa- tion to Promote Aviation. COLUMBUS, Ga,, April 3 (#).—Or- ganization of the Southern Airways As- sociation for the promotion of a trans- continental aerial highway and the de- velopment of airports along its route was effected here yesterday by repre- sentatives from ht cities of five States. J. Ralston Cargill of Columbus ‘was elected president and suthorized to appoint seven vice president, one from | each State through which the pro- posed route would pass. Drug Far Stronger Than Cod Liver Oil Made From Fungus Exposuie to Ultra-Vivlet Light Produces Power- ful Ergosterol. By the Associated Press. NEW YORK, April 3.—A drug which is “many thousand times as potent as the well known cod liver oil” was de- scribed last nighi by Dr. Alfred F. Hess of Bellevue before the American Insti- tute. The powerful substance is ergosterol, after it has been exposed to ultra-violef recently attracted little attention. To- day ergot is considered as perhaps a part of every animal and vegetable cell, which makes it one of the important constituents of the human body. But the vital factor in energizing ergosterol is not the low fungus. In- stead it is the exposure to ultra-violet light, which is called irradiation. This process, said Dr. Hess, when applied not only to ergosterol but to oils, milks, cereals and other foods, makes the eat- ing of them equivalent to taking ultra- violet rays internally. However, in the case of ergosterol, at least, the exposure to the invisible rays does something more. It creates vitamin D with special effectiveness, and gives the drug a re- markable property which prevents and cures ricketts. “It is the first vitamin” said Dr. Hess, “to have been isolated in a pure state and to_have been prepared in the laboratory. It is one of the most potent substances known and probably exerts its action by means of stimulating one of the several glands of internal secre- tion of the body. “Its dosage has not yet been fully extablisehd, and we must wait for its therapeutic application.” Have you read our illustrated booklet “THE SUCCESS PLAN” A phone call or a post card will acquaint you ;vllth this valuable book- et. It explains the differ- ence between speculation and investment; it shows how any one can build up a safe and sure in- come through systematic saving. ‘We should like to send you one of these illus- 6% 6% REALESTATE MORTGAGE & GUARANTY CoRPORATION Capital Resources § 3,400,000 - 24 JACKSON PLACE GARBALDIPLANS TOANNUL WEDDING Grandson of Italian Liberator, Wife Assenting, Proposes “Move of Chivalry.” By the Associated Press. NEW YORK, April 3.—The New York today said that Gen. Giluseppe (Pej ) Garibaldi, grandson of the Italian tor, had taken. steps to to Mrs. Mt annul his marriage atielyn Nichols Taylor Garibaldi as a “move of chivalry” toward his wife - DO IT S year—are now in traction as a * 1. 2 in the Spring. Coal can be eral expenses Are 1 ‘The basis for the action is an httempt to clear up technicalities from . Garlbaldi’s Mexican divorce Stevenson Plerce ‘hylor.h by & them from unpleasant divorce ings and that they had to main “the truest t{'knda." utxrs;“ p m“tcxhthe business of ugl! grol mro\a of an ugly New York divorce,” she sald. “He is a wonderful man, a chivalrous gentle- man and a loyal friend. Suppose he falls in love with some ‘who might not want to marry he were a di- vorced man. And suppose I, too, fall in love again, It is better this way for both of us.” \ Mrs, Garibaldl is the daughter of John W. Nichols, wealthy 8St. Louis resident, She was married in 1923 to Taylor, a New York business man, from whom she obtained a divorce in Yuca- tan in 1925. She ma: Gen, Gari- baldi in January, 1926, and 10 months later Taylor filed. suit for divorce in New ‘York, ing the di- vorce was mnot recognized here. NOW| PRING ' coal prices—the lowest of the effect. Spring has two special points of at- . Coal-buying time: Coal can be bought most cheaply more conveniently paid for in the Spring, when gen- are the least. Spring Deliveries Are Cleaner—Coal Is Better . When buying coal remember that: “Griffith - Consumers Ungqualifiedly Products Guaranteed.” @mrnn-@vsuums (©MPaNy Main Office, 1319 G St. N. W. Franklin 4840 - COAL—FUEL Ol—BUILDING MATERIAL The world’s finest cream recipe IAKE real cream, real sugar, real fruit or a natural flavoring—and nothing else! 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TOLEDO, Ohio, April 3 (#).—A new monthly record fof automobile produc- tion was set in with out- Moore, president of the Great Lakes regional advisory board, mm yester~ day at a pmeeting of the 's_exec- entitled to and the put of 466,000 machines, Kenneth A.||| SERVICE You Can Depend Upon it will be at your door when you want it That’s the way we guarantee your satis- faction—by giving you utive committee preliminary to today’s annual session, - - Moore, who also is Western it- ative for the National Aul ‘hamber of Advisory Board Reports 466,000 A pre-convention rally of all the adult Bible classes of the District of Columbia will be held at Cal- very Baptist Church April:3rd at 3 pm, | Full details will be given of the convention of the National® Fed- eration of Men’s Bible Classes’ to be held May 4th and 5th. Speakers for the rally are— kDR HOMER J. COUNCILOR Whether you need one board or a truck load, you may be sure the quality you are service you expect. GALLIHER & HUGUELY, Inc. 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