Evening Star Newspaper, June 5, 1929, Page 6

c ® |U. 5. DELEGATES NAMED FOR ENGINEER CONGRESS ———— SuMeDEVITT CREDIT PLENTIFUL, | Engineering Congress to be held next ’llfln: Maj. Gen. Edgar Jadwin, chief Boston, and Mark Requa of Piedmont October at ‘Tokio. of Army Engineers; Scott Turner and | Calif. ‘The American delegates named by |John Hays Hammond, both of Wash-| The col will be held in the Far the President were Elwood Mead, com- |ington; Elmer Sperry, Frank B.|East for the first time instead of in missioner of reclamation: George Otis | Jewett, John W. Lieb and Maurice | Europe or in the Uniied States as in The objett of the gather- | ESCAPES CHINESE BAND. ;' .WINDOW SHADES BAMG LUCKY TIGER stops fall. 2 knocks colds. Sold ‘wnder Money-Back Guar- ".fj-L'ndcr the heme protected by ““Murco’; never suffers instead its beauty is intensified . . . a sou;cé of gratification to the owher. S R e «Murco” : razshield against all~ “weather: Made' good ‘always according to a "100% purity formula, “Murco” is a safe, sen- sible-investment. s &’l. E.]. Murphy 710 12th St. N. W. Main 2477 ;| different situation today as between the }Restricted Speculation, How- ever, Seen Essential to Soundness. BY DAVID LAWRENCE. ‘The.underlying structure of American ! business is sound, and there will be plenty of credit available for capital ex- { pansion provided the Nation's eredit | system is not abused by excessive spec- ulation, | This is the consensus of the author- ities here who have been observing the | satisfactory response of the credit ma- | | chinery of the Nation to the warning issued last February by the Federz] Re- serve Board. | | The phenomenon of an unprecedent- | ed growth in trade and a greater than | normal increase in production, without | a corresponding increase in the volume 'of; credit,.is taken to mean that the capital resources of the country are! being augmented materially. Tt is es-| timated that $15.000.000.000 of new in- | | come is annually coming out of the national wealth of the United States, | and the quest®n which the Federal Re- | serve Board and other agencies of credit | are trying to determine is how much of this will be available for the issuance | of securities to finance American enter- prises, both in the domestic and the | foreign _fields. | The flotation of bonds and stocks for new enterprises or the expansion of | existing business is regarded as the | function of the new capital and not the field of bank funds. To the extent | that banking institutions must carry | new issues of securities until they are absorbed by the public, it is conceded here that temporary uses of bank finds are legitimate. = If. however large | quantities of monev are used for the purpose of speculating in securities the | opportunity for new capital to be used ! expanding business is thereby dimin- | | ished. . Regulation of Credit, | The"idea heid in responsible quar- ters here is. that there is an sbundance of capital for all business purposes, but | that credit from now on must be regu- | & _quantity point of view. In other '| words, the ecomomic cycle of American progress is such that no single factor eral Reserve Board conceives its func- tion to be the accommodation of busi- any group or any factor to be overem- phasized. There 1. for example, an_entirely centrh) banks of Europe and the Amer- | idan ‘money market than there was @ few years ago. Money rates are no longer controlled within & country by | that nation’s supply of funds or credit Money under the laws of supply and demand seeks its own level nowadays in & world which has the telephone, | “[telegraph, radio and air matl to break down the barriers of time. | The word ‘“overemphasis” is used ! often In official quarters in character- | izing the operations of the New York Stock Market, which have threatened to interfere with the normal expansion of credit. It is not that the Federal Reserve Board has anything to. do with the upward or downward curve | ested in whether money ‘that should be used to assist in the economic evolu speculative operations. The exact atti- ADVERTISEMENT IT'S A WONDERFUL MEDICINE INDEED So. Washington, Va,, Woman Says Words Can- Hardly Describe: ‘the Value of Mil/[éi’l Herb Extract. “I heard and read a lot abouf this medicine before I made up my mind fo give it a trial. You see 1 had heen in poor health for a long time, my husband had spent hun- dreds of dollars on medicine _for me, lvul‘n they had no_effect on my cond I hesitated about fry- ing something different.” MRS. J. M. SHEUTON “I had been told that an operation was necessary, just the thought of going through “with it made me shiver, so I said. ‘Well, 1 woll try one bottle of Miller’s Herb Extract,’ and right here I°want to say to those who read this statement, that words cannot describe the ‘value of this medicine.” Before I used it for days at a time I could not get out of bed and. I suffered ter- ribly with my ‘stomach, even had it washed out, still I could not get relief from the terrible gas pains and my stomach would swell and bloat terribly, why at. times even a glass of water would upset me and cause such cramps that I could hardly stand up. I would have nervous spells, could hardly control myself. and there seemed to be a lump in my throat. 1 had a great deal of trouble with catarrh and was so badly constipated that I had to be continually taking a strong laxative. But as bad as my condition seemed, this medicine helped me from the very first and I cannot find words to describe the wonderful _improvement the first bottle made, it was wonderful the vay the pains in my stomach passed bowels began to move regu- tude of the board is set forth in the following paragraph: Board Not Arbiter. “The Federal Reserve Board neither | assumes nor has it any right or disposi- tion to set itself up as an arbiter of | security speculation or values. It is, however, its business to see to it tha the Federal Reserve banks function as When it finds that conditions are arlsing which obstruct Federal Reserve | baiiks in the effective discharge of their funetion of so managing the credit facilities of the Federal Reserve Sys- temi as o accommodate commerce and | business, it is its duty to inquire into | them and ta take such measures as may | be deemed suitable and effective in the eircumstances to correct them: which, | in the immediate situation, means to | restrain the use of Federal Reserve | | credit facilities, whether directly or in- | directly, in aid of the growth of | speculative credit.” i | The foregoing was the crux of the | February warning of the Federal Re- serve Board and now it is felt by the | board that the big test In reguiating credit from a qualitative- viewpoint has | been fully demonstratéd as practicable. | | The method used has been direct pres- | sure on the banks to analyze earefully | the loans they make and it is expected | that the same prudence and care will | be used in the future by member banks | in order that there may mot be a re- turn to excessive speculation Overemphasis Attempted. | An interesting commentary on the | | stock market situation is offered by | some- elements here to the effect that the Bull’ market of the last year or o | | has been- a belated participation in the | | prosperity of three years ago, which instead of being discounted by those who make a practice of studying eco- nomic trends, was not fully realized | until the peak of industrial operations had been reached. Whereupon there | was & universal attempt to overempha- size the rate of growth of American | trade and business The last few months, it is believed, { has served to bring into proper pro- | country so that in the readjustment | | of stock market operations the true | | value of this growth may not again | be overemphasized or made the basis | ;n[ excessive speculation. The view is | frequently expressed that American | business s in a prosperous condition and will continue to be except for| | sessonal fluctuation and occasional | | sectional depression, but that any re- striction on the use of credit may in | themselves bring on_disturbance. This | is why the Federal Reserve Board feels | that while its policy of the last few months may have been painful to some | groups it saved the nation from a dan- gerous _alternative—the stoppage of | progress through a scarcity of credit From now on it is assumed that the credit situation will be easier and the | | speculation will be held in bounds. | (Copyright, 1929.) tion of the country is consumed in | | | ;n'flec!lvel_v as conditions will permit. | portion the industrial growth of the || ’Dr. Holleman, American Mission- ary, Flees Toward Tapiu. PEKING, China, June 5 (P).—Offi- cial foreign sources foday said that Dr. | C. H. Holleman, American missionary. | who_ivas captured and held for ransom | by Communists at Lungyenchow, South- | ern Fukien, May 23, had escaped. | A letter received at Amoy from | Lungvenchow said the missionary after | four davs had eluded 3.000 brigands and started afoot toward Tapiu, Kwang- tung, spparently hoping fto reach Swatow. Holleman's wife and children escaped [upmr- originally and made their way to’ Amoy. LAW COMMISSION TOSTART ONTASK General Headquarters Will Be Opened in Tower Build- ing Tomorrow. General hndql'lr!'rs for the Govern- ment’s intensive drive on lawlessness will be opened here tomorrow morning by President Hoover's National Com- mission on Law Observance and En- forcement. The commission will meet tomorrow morning' for the first time in its new nine-room’ suite of offices in the Tower Building at Fourteenth and K streets, around the corner from its temporary quarters in the Department of Justice. At that time, first steps will be taken 1o carry out the preliminary program mapped out at the initial “eouncil of | war” last week. One of the first moves will be to consult with various Govern- ment officials regarding plans for pur- |to take care of the growing needs of |SUing the nation-wide investigatton into the breakdown of law obedience. Several Are In City. Several members of the commission already have arrived in the city after & visit to their homes to straighten out Jated from a gualitative rather than |Dusiness affairs interrupted by the Pres- ident’s summons. George W. Wicker- sham, chairman of the commission, will early tomorrow morning. During the brief absence from the ness and commerce without allowing | city of the commission members the | temporary office has been in charge of Max Lowenthal, secretary of the com- mission. He has succeeded in clear ing up much of the pressure of corre- spondence that had developed with the naming of the commission, although handicapped by lack of a clerical staff. Leiters Deluge Office. During the first few days of its ex- with letters and telegrams from all parts of the United States, most of them containing suggestions for “solving” the big problem of maintaining respect for law. Prohibition also was touched upon in many of the messages, it was said. The commission has told all these voluntary “advisers” that it welcomes bona fide suggestions or information | which may assist it in its inquiry. 1t is expected that the commission to- of stock market values, but it isinter- | morrow will seek from Government de- partments and agencies, all available data bearing on the subject of law en- forcement. Many of these ‘data have | beén collected in previous surveys by ! Federal officials. Attorney General Mitchell has offered to the commission the facilities and records of his depart- ment, which but recently conducted a { survey of conditions in the offices of { Federal district attorneys, and which has an abundance of other information in_hand. | " Later, publie hearings will be held in | the new conference room in the Tower Building, and in other cities. It is ex- | pected that some of the hearings may be behind closed doors. FAMILY FEUD IS ENDED WHEN TWO GO TO JAIL By the Associated Press. PORTSMOUTH, Ohio, June 5 —Pris- on sentences today had brought peace in the feud of the Cooper clan. Two brothers, Kenney and Ed, were serving terms in the State penitentiary for shooting at each other with intent to kill, and the central figures in a family warfare which had kept the Twin Creek district divided for nearly 20 years were removed. Kenney Cooper, youngest of several brothers, recently “went to the law and caused Ed's arrest and sentence to 3 to 20 years. He surrendered in tuin to begin his own sentence of 2 to 20 years yesterday when he learned that the State Supreme Court had denied him & new trial after he, too, was ar- rested and convicted. ades ago. Kenney Cooper said his older brothers refused to aid him in suppor:- ing their mother and that brought on a warfare of sniping which resulted in several @he Foening Star B ol | come here from New York tonight and | can be permitted to obstruct the Na- |other members are due to arrive here tion’s credit expansion and the Fed- |during the afternoon and evening or istence, the commission was deluged | The feud broke out nearly two dec- | ADVERTISENENTS ( RECEIVED HERE Haney’s Drug Store—2072 Wisconsin Ave. Is a Star Branch Office Advertisement in The Sta leave the copy at the | Later Meeting Would Be Held: | to Study Application of | | Reparations Plan. | i By the Associated Press. i | PARIS, June 5 —Experts on repara- | tions, preparing today to adjourn one ;Imlr-lnmlhhlonl conference, foresaw { another !international meeting within two or three months to study applica- cation of the reparations agreement they have just conchaded. This meeting would be merely & se- | quel to the conference just ended and ' would compare with that of August, 1924, when ‘Tepresentatives of the gov-| ernments concerned met to study ap-| plication of the Dawes plan. The sug- | gestion has been made that it might ! | well take place in London, possibly at | | the end of July, although others favor | awaiting ratification of the accord just ! reached. There was little disposal in any con- | ference circles fo worry unduly over, problems presented by ratification of i {heir accord. General belief is that the governments of any of the six na- tions concerned would be able to sum- | mon parliamentary majorities necessary | {o bring the agreemtent into force. | Will Get Ceopies Seon. Each of the governments will be in possession of the conference report.. which will be principaily recommenda- tions by the experts, by the end of the | week and can begin studying it then | with & view to deciding what action will be taken. Publication of the report is not con- | tempinted until after it is in the hands | of the governments. which would issue it simultaneously. Printing is expected to take from 10 to 15 days. It will be supervised by two or three of the ex- perts, who will r@main in Paris specifi- cally for that purpose. Completion of the text of the report was being rushed through today and tomorrow so as to have it ready with- out fail for signature at least by noon Friday. The work was in the hands of three subcommfiftees, each handling different phases of the pomderous task just finished by the experts. | Is Long Decument. | This final work itself was a labor of considerable magnitude since, although | all questions were settled in' principle, the report itself existed only in the form of an unwieldy document. It was hoped by judicious revision and excision to reduce it from 60 to 40 pages so that altogether with the annexes econcern- ing the international bank and the de- liveries in kind it might be kept under 000 words. | “'Meanwhile, the experts themselves | | were preparing to_ leave Paris. with| | practically all expecting to be gone by Saturday. The American delegation will take the Aquitania from Cherbourg on that day. Some idea of the strain to which the experts were subjected could be thh-& ered from the fact that one of the experts, and he was not of the plumpest ¥ sort, lost 15 pounds in weight. He [} explained that he had passed no less than 30 nights in abstruse calculations and strivings’ after exact phrases to sat- | | isfy everybody and make nobody angry. BERLIN FEELS RELIEVED. Only Dissatisfaction Seen In Belgian Mark Redemption Agreement. BERLIN, June 5 (#).—The Paris settlement of the reparations question has been greeted with & sigh of relief | in official and unofficlal ~circles in | Berlin Although the Belgian mark agree- ment is regarded by the Nationalists as in effect a raising of the annuities | and is called “more tribute to pay,” nevertheless this is generally counter- acted, especially among the government parties, by the feeling that the Germans | really won & noteworthy point when | the Belgian delegates accepted the Ger- | man proposal for separate negotiations. ‘The Allegemeine Zeitung says: “Even if the Young plan coming into force is made dependent upon the Bel- gian settlement, at least it was recog- nized that the latter is outside the sphere of the Paris experts.” The question of evacuation of the Rhineland now takes a leading position for the Germans and the hewspaper Der Tag predicts that “the French and German foreign ministers will discuss at Madrid, where the Council of the League of Nations will meet shortly, not only the question of minorities, but, above all things, the evacuation ques- tion.’ Seventy-five airplanes were shipped trom the United States to Latin Amer- ica last year. TROPICAL. WORSTED SUITS $25 Open a charge account. Easy Terms EISEMAN'S, 7th & F no trouble connected sertion of a Classified Just Star Even if your wife helps you buy your A ' Summer Vacation for youn Feet and Pocketbook “You need no longer be told that you have | ENNA JETTICK Health Shoe %9 an expensive foot! All Sizes, AAAA to EEE, provide fit for every foot 7th & K 3212 14th “Women’s Shop"—1207 F Smith, director of the Geological Sur- | Holland, Danlel L. Turner, Byron El- President Hoover has selected 17 Gov- vey; George K. Burgess, director of the | { | ernment and civilian engineers to rep- | Bureau of Standards; O. C. Merrill, sec- ]an! City; John R. Free 3 | resent the United States at!{he World |retary of the Federal Power Commis- ' e s i ——— ] dred, J. V. W. Reynders, the past. all of New‘lng is to effect an international ex- an of Provi- [change of the latest knowledge of the dence, R. I,; Dugald C. Jackson of 'sciences and practices of engineering The “Rena”—Patent, black or brown kid—$5. White or blonde kid—$6. The “Lois"—Patent, black or brown kid—$5. Blonde kid—$6. The “Junior"—Low heel models for junior women—$5. And there’s a very special ace FOR BOTTLES/ it bottles in the New 1. And how quickly they get icy! No half-open doors lov.;‘ c":'ll\ lng } stay shutwith aslight gt i e New Servel she’ll. never quite get over the many thoughtful, good-house- keeping details . . . nor will you! «JOOK, you old dear, now you'll never complain L that the ginger ale isn’t cold enough. See there? That’s the coldest part of the box! Just the spot for bottles. “Notice all the corners are rounded, too. Isn't that efficient? You'd say so if you ever had to scrub our old-fashioned ice box. Q % . \ Electric Refrigeration ) N 8 i when I ask you to get the gravy bowl that's hiding away back in the corner somewhere.” Women are like that. Notice all the little things: But after all it's the attention to such details that makes the New Servel such a boon to modern housekeeping, to busy housewives. Attention to such details tells you, too, that the major features are carefully and completely worked out—quietness, even temperature con- stantly maintained, an abundance of ice cubes, trolible-proof operation. Branch Office in your neighbor- hood. No matter where you live, in town or the nearby sub- urbs there’s one handy. lar and from then on I could feel myself improving with each day, nerves quieted down, gas no longer formed on the stomach, I began to feel like eating’and to my great relief, food 1 ate caused no bad after effects. 1 can truthfully say that since taking. Miller's Herb Ex- 'COURT-MARTIAL CONVICTS {ARMY AIR CORPS OFFICER “Now watch this door. Why, you can almost blow it shut. Tight, too, tight as a drum. There's one more detail—and it really is a detail, thanks to our] Special Pay. ment Plan. Won't you please come in and let us tell you how comfortably the ‘! Lieut. Col. Harry Graham of the Army Air Corps, attached to the staff of Ma, It will be forwarded immedi- “And, Jim, such shelves! I just know ller Gen. Fred W. Sladen, com- R L e e e e ad || MAnding the 3d Corps’ Area. was re- ately to the Main appe 4 T T recent good || 'cently convicted by & general court. ing in the first available issue. some woman must have planned them! No “dish-tipping” New Servel can fit into your budget, | martial, appointed by the President, of now! There's health solely to the use of this || No fees are charged for Branch enerous L (R » DT:ESIGN Office service; only regular ey’re so roomy, so wide-spaced. YOou pace beruween shelves. Ies how really easy it is for you to have } sults every s sentenced t 5 , BOV o . easy to lift out a brim-full . . . Fantsgnd Herb Extract brings.re. e e o T L e s rates. won’t have to wear a worried 100k foul—evenfromtheback. this modern refrigerator right away? statemeénts: similar to the above || The charges were preferred by Gen. DISPLAYED from . grateful users indicate. This fi:?'{:‘m"gm:,';m"yf':él.lh::;m ;}::5:5 BY The Star prints such an T s Phern T hon o ot || from duiy without leave for, three days AUTHORIZED overwhelmingly greater vol- 4 mote gastric juices that is necessary || in April and had been guiity of con- STAR ume of Classified Advertising . n unla n B a 2r nt. to regulate bowel action and insures | | duct unbecoming an officer and a gen- BRANCH every day than any other ’ good health, Hundreds are calling || tleman through overindulgence in in- OFFICES Washington paper that there toxicants. The trial was held at head- quarters of the 3d Corps Area, in B timore, the latter part of May. The tecord of the proceedings is now I'being reviewed by the Judge Advocate | General of the Army at the War De- | partment and if found regular_ will be submitted to the President for final ac- can be no question as to which daily to see the special representa- in be will give you the best results, tive direct from _the Herb Juice Medicine Co., who has established headquarters at the Peoples Drug Store, 505 7th Street N.W. to Jearn' more of this great medicine that is bringing health and happi-- ness to so many Washington eitizens: SALES and SERVICE—DOMESTIC and COMMERCIAL UNITS Metropolitan 2150 806 12th Street the Corner is Branch Office “Around a Star