Evening Star Newspaper, June 11, 1930, Page 6

A—6 LOUISIANA BANKER EXPECTS NORMALCY Predicts Business Recovery Will Be Completed Within Six Months. By the Associated Press. BILOXT, Miss., June 11.—The awaken- ’.fll of renewed activity in building en- . in electrical development, in xood distribution and in the radio, cinema and sutomobile fields is forecast by J. A. Bandi of New Orleans, vice resident of the Canal Bank & Trust gfl. He told the National Association of Building Owners and Managers he belleved the return to normal business ‘would be achieved within six months. “Concentrated thought and effort is being devoted to giving better housing facilities for the masses in our cities and in applying newer and heretofore | untried principles to skyscraper and plant construction. “Easy money will be an encourage- ment to enterprise that will begin with the small merchants and later relate itself to the wholesalers and the manu- facturers. “‘Great public movements and large findnures will stimulate trade in cer- dkect.wns until the full movement Thn l&lochflm& convention =~ was med Monday with addresses by | di and Paul M. Robertson of In- dianapolis, president of the association. | ‘The New Orleans banker said: “Intel- | nt advertising, elimination of mar- 1 producers and efficient operation Tesults will be necessary to meet the ‘thn: tompctmon for business in all | Robertson, in his address, praised the | Hoover business service conference, say- ing that it had released millions of dol- lars for bullding trades pay rolls through the rehabilitation of old build- | T public, | former minister of national defense in| | the cabinet of former President Horacio | vasquez, was arrested yesterday, liberated shortly afterward. 1 His arrest followed the imprisonmeng | Monday of two others who served un- der Vasquez—Angel Maria Soler, former minister of foreign affairs, and Martin Moya, former finance minister. Probes Lynching Is in charge of investigation into the fatal wounding of Henry Argo, Negro, uring a mob attack on the county jail at Chickasha, Okla. —Associated Press Photo JAIL FORMER OFFICER SANTO DOMINGO, Dominican Re- June 11 (#).—Alfredo Ricart, but The new government has given no easons for the arrests. THE EVENING STAR, WASHINGTON, FOR GERMAN LOAN About $98,250,000 of $300,- 000,000 Issue Will Be Floated in U. S. By the Associated Press PARIS, June 11—First commerciali- zation of the German reparations debt will be undertaken during this week with issuance in the nine interested | countries of a $300,000,000 German rep- arations loan. ~About $98,250,000 of the loan will be floated in the United States. Details of the issue were decided in | Paris during a three-week session of | International bankers, representatives of the Bank of International Settlements and officlals of the ereditor powers, and | were announced last night by officials of the new International Bank. The loan is to be known as the “514 | per cent 1930 Germnn government ln- | ternational loan.” The day of issue is \ to be left to the interested govern- ments; the price Is 90 for every country except France, where it is 98, each $8 of the price going to the French treas- ury as capitalization of tax for 30 years Confident of Subscription. Financial circles were confident here | today that the issue would be subscribed 'BALDNESS COMPLETE PLANS | within & week, and that the first slice of the unconditional part of the Ger- man annuities fixed by the Young plan will have been commercialized. The object of the loan is to furnish, in accordance with The Hague agreement, the first slice of reparations established under the Young plan. Of the amount, $100,000,000 will go to Germany for internal improvement and the re- mainder to creditor natians. Two final points delayed the work of | the international group arranging the | loan. These were the price of issue | and the extent of the bankers' commis- sion. The suggestion of Montague Nor- man, governor of the Bank of England, that the commission of the American | banking group be fixed at a higher rate than that for other countries because | of the system on the American market finally was adopted. $50,000,009 for Expenses. ‘The conferees understood that the American commission is 4 per cent. The loan itself actually will total between $340,000,000 and $350,000,000, the amount_over the $300,000,000 being to cover these bankers’ commissions and expenses of the issue. ‘The nominal amounts to be subscribed in the different countries are as follows: United States, $98.250,000. 000,000 reichsmarks Germany, (about $8,200,000). Belgium, 35,000,000 belgas (about $4.500,000) aff of rai in, ing Fran $88,000,000). Great rea (about $58,000,000). Ttaly, 00,000) \Mall R. mail carrier, months in the county jail Monday b O WEDNESDAY, JUN NE 11, 1930 ce, 2,215,000,000 francs (about 12,000,000 pounds 110,000,000 lire 73,000,000 florins (about 110,000,000 crowns (about Switieriand, 92,000,000 Swiss francs Britain, (about $17,000,000). ‘The figures in dollars listed are only approximate. “AUTHOR” .SENTENCED Carrier Uses Lindbergh's Name to Sell Publishers Book. LOS ANGELES, June 11 (J‘).vdemld Gage, for 17 years a Government was sentenced to five ter he had pleaded gullty to mail fraud in connection with publication & book written by him under the name of Col. Charles A. Lindbergh. Gage was accused of making ar- ngements with Dorrance & Co. of Philadelphia to publish the book, lead- g the publishing house to believe it was doing business with Col. Lindbergh. The complaint, filed in Federal Court ere, throligh advertising for the {orthcom- sald the publishers lost $7.000 g book. Quality That Endures E (about $5,- | Lift Ban on Study of German. ADELAIDE (#)—The State of South Australia has decided to permit school children to learn German, a study ban- ned when the World War started. Many influential South Australians are de- scendants of German ploneers. g e ‘When the Vienna Philharmonic Or- | chestra recently made its first appear- ance in London in 24 years it was heard by an audience of 6,000. A DELIGHTFUL BOAT TRIP TO PHILADELPHIA ROUND TRIP, $4 1o New York Chty and New re points. Folder on reauest. ERICSSON LINE PIER 1 LIGHT ST. WORKMEN OF WELDIT CO WELDING THE TAIL ON —0OR G WHEN IT.COMES T0 WELD- =ING.WE ARE THERE. Did somebody bump your car and break your bumper? Horrid thought! Don’t worry, we will WELD it for $1.50. When it's a question of saving your money on broken articles we are the Kingfish. Cracked engine heads, motor blocks, heating boilers, ete., all come under this classifi- cation, Weldit Co., 516 First St. N.W. Metropolitan 2416 Entrance 909 F St. N.W, It Is Pleasant to Select the Suite Desired From Our Large Display Floors Contammg Upward of Four Hundred Attractwe Suites, Each Different GATES MADE PRESIDENT OF U. OF PENNSYLVANIA Prominent Financier to Be Admin- istrative Head Without Pay in His Alma Mater. B the Associated Press. PHILADELPHIA, June 11.—Thamas 8. Gates, partner in the firm of Drexel & Co. this city, and J. P. Morgan & Co.,, New York, was yesterday elected ptesidenl of the University of Pennsyl- vanis, a newly created office. ‘The announcement was made last ;ight by Dr. Joslah H. Penniman, )mvost of the university, and in that ity the financier will become “the ef executive officer of the univer- gity.” In accepting the appointment Mr. Gates specified that he would serve without compensation. He was gradu- eted with the class of 1893. Dr. Penniman will continue as prov- ost. It was understood that Dr. Penni- man will attend more to educational pects of the university and Mr. Gates the administrative phases. e COL. NEWELL TO LEAVE ARMY AFTER 38 YEARS Orders Assigning Officers to New Posts Made Public by War Department. Qol. Isaac Newell, United States In- try, at San Prancisco, will be Te- October 31 on his own u:pnuuon after more than 38 years’ service; Lieut. lry. at th- Attractnve 10-Pc. Walnut Veneer Dmmg Room Suite Consisting of 60-inch buffet, semi-enclosed glass door 1 4.Piece Gothic Deslgn Bed Room Sulte Truly an attractive Gothic style suite of selected china closet, enclosed server, oblong extension table, five side chairs and one host chair. Seats of figured jacquard velour. An exceptional value of walnut veneer with maple overlays. walnut veneer over gumwood foundation. Comprises a French vanity, return end bed, deck chest of drawers and large dresser. 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