Evening Star Newspaper, July 31, 1931, Page 3

} | 40,000,000 . BANK RESCUED BY REICH Threat to Entire Credit! Structure Brings Aid From Government. BY EDGAR ANSEL MOWRER. By Cable to The Star. BERLIN, Germany, July 31.—The Dresdener Bank, large institution j with total capital and reserves of more than $40,000,000, which has been the chiefest cause of new gray hairs on governmental and financial heads here during the last two weeks, has now been saved by governmental Inter- vention. The national treasury will purchase from the bank a new issue of about $20,000,000 of preferred shares. Fur-} ther capital is being supplied by the newly formed Acceptance and Guar- anty Bank. There is every reason to belleve the Dresdener Bank is saved from any dangers that do not affect German Wanks as a whole. Situation Declined Rapidly. “he situation of the Dresdener Bank was regarded as critical after the nat (Darmstaedter and National) gnk smash and only the 17 days’ *pank holiday” prevented it frcm clos- its doors immediately after the at. After that, owing to the abuse oy bank transfers, the situation of the ®-edener Bank became steadily worse. adopting the system conceived and | carried through in N-w York in 1907, t:e Dresdener Bank honored only trans- fer orders fo lezitimate business to third porsons. The Germans, against She advice of a benker who had parti- | €ipated in the Now York crisis, extenced 4pe system to ordinary checking. Threatened Credit Structure. ‘Sersons with accounts in the Dres- wener Bank simply drew checks and d:- ited them to their own or other ac- Bt i reputedly stronger banks. The strain on the Dresdener grew until the breaking point was apparent just ahead. During the last three days the cabi- net, financiers, bankers and economists have been concerned hourly with sav- ing the Dresdener Bank. For had it| broken, it is perfectly certain that the| entire credit structure would have burst with it. But the instinct bf self-proser- vation is still strong in Germany and the Dresdener was saved. (Copyright, 1931.) COMMISSION ENDS LABORS. Conferees Agree on Procedure to Keep Credits in Germany. BERLIN, July 31 (#).—A comprehen- sive program to cope with Germanv's financial difficulties will be made public before the end of the week, it was ex- pected today. Details of the plan, on which the cabinet bas been working in almost un- | interrupted sessions recently, have been | closely guarded and will remain a se- cret until announced by Chancellor Bruening. The so-called “freezing commission,” which attempted to draw a procedure by which foreign credits would remain undisturbed in Germany, completed its | labors last night and the foreign finan- cial expert members left for their | homes. | The commission did not issue a state- | ment setting forth its conclusions, but | it was reported unofficially that a plan | had been drawn up and that the con- ferces were in agreement, at least on essentials. According to the Berliner Tageblatt, separate negotiations with the various nations will be started now that the “freezing commission” has completed its task. “It is generally belleved,” the news- paper said, “that it will be diffcult to | there, was of the most cordial mature.” THE EVENING STAR, WASHINGTON, D. C, Remodeled Battleships Ready to Sail ‘The reconditioned battleship Pennsylvania, flagship the Washingtcn and London naval treaties, the battleships Arizona and Pennsylvania will sail tcmorrow irom Hampton Roads, Va. for the West Coast to join the battle force. Upon afriving at San Pedro, Calif., the Pennsylvania will report to the commander in chief of the United States Fleet, Admiral Jehu V. Chase, U. S. N, for duty as flezt flagship, a positi-n she held from 1916 to 1921. The | Arizona will be rrsignod to Battleship | D’ VERHAULED throughout and O mod-rnized under terms of ~equip- se two Now the most modern end be: ped men o’ war in the y n 3 of the battle force. e ships for the last two years have been in East Coast shipyards for a thorough remcdeling. In so far as the fleet is concerned,. they will be “new” ships, for both ther inward and outer appsarance, as well as their strength as fighting cr2ft, have been completely changed. In place of the oid cage masts originally bullt on the ships have been installed new tripod masts. Turret guns have been elevated, broadside 5-inch guns raiced and the cld anti-aircraft battery repl:ced with new 5-inch pieces. Strcnzthening the batt cships’ uefense aga'n:t torpedo or underwater damage, te s"—continuons exira compart- ARIZONA AND PENNSYLVANIA ORDERED TO WEST COAST. of the fleet. 3 the vicinity of the line—have been added. To offset tu@ v-tight of the blisters and th> extra ament, in- stalled for protection against falling shot and aircraft bombs, new boilers and main and cruising turbines have Em; put én to maintain the ships’ 21- nof ed. 'With the installation of modernized fire-control apparatus designed to im- prove the accuracy of gunfire, the two ships will have the most effective gun- nery equipment of any battleship in the United Stat>s’ possession. The ailing schedule of the two ships en r-uts to Sen Pedro provide' for stops at Guantanamo, Cuba, August 5-8, and t5 built ar-und the outer plating in | the Canal Zone, August 11-15 - st i retary Henderson to Berlin was crig- | inally planned to return the visit to | London early in June by Chancellor Bruening and Foreign Minister Curtius | of Germany. “The _opportunity, however, was taken,” he said, “to pursue the con- | versations which were begun at| Chequers and to examine the financial | position of Germany ig relation to the work done at the Londan cnn(erence.‘ “As a result of these conversations we are further convinced that -the | action proposed at the conference | should relieVe the immediate financial | difficulties of Germany and enable con- sidered judgment to be formed as to | whether Germany requires further | credits and in what form they should | be supplied. | “The committée set up by the Bank | for International Seiticments cn the | suggestion of the London conference | to report on the matter is now at ! work and will come to its conclusizns | without delay. | “During our stay in Berlin we also reviewed important questions in which the two countries sre interested, such as disarmament #nd the Geneva con- vention on hours t> be worked in coal mines. “T can assure the house that the wel- come we received from the public and press, as well as from the government PROPOSE REICH LOAN PARIS, July 31 (P .—The Havas Agency said last night the principal art and antique dealers of Paris are forming a syndicate to offer a loan of one billion ancs (about $40,000.000) to Germany on adventageous terms. The loan would be secured by the works of the masiers in the galleries cf B-rlin, Munich, Dresden, Cologne and other places. It was said the plan called for ex- hibiting the pictures in France while they were b2ing held es collateral and charging admission fees. Will Rogers BEVERLY HILLS, Calif.—T've been getting some papers sent to me from up in the Northwest, and I am telling you from the pictures these grasshop- pers have laid that country lower than the Farm Board. They just swarm onto a place lik> farm- ers at a free barbecue and one thing to be sald for the grasshopper, he has generally . op- erated in Republican territory. Ken- sas has been ruined by ‘em as ofter as by their politicians, o that's why the Democrats have never paid the bugs much attention. In fact, kinder urged 'em on, but they never even prayed for anything ltke this to happen. 'SHAW AND LADY ASTOR DEPART FROM RUSSIA Leave After Nine Days of Sight- seeing and Conve With Notables By the Associated Press. MOSCOW, July 31.—George Bernard Shaw and Lady Asior ended their first visit to Russia last night, leaving for London by way of Berlin after n'ne days of intensive sightseeing and con- tions versations with notables of the Soviet | Union. | The members of the party, which | also included Mrs. Shaw, Lord Astor, his son David and the Marquis of Lothian. expressed _delight with the | hospitality extended by their Soviet hosts. | They called upon Mme. Krupskaya, | widow of Lenin, and aiso inspecied the | barracks of the Red armg. Carolina Textile Man Dies. GASTONIA, N. C. July 31 (P).— Fiost Torrence, Gaston County textile manufacturer, died here today. He was _president and treasurer of the Ozark Mills. US.ROYAL TIRES 2 YOUR ourT ERMS FRIDAY, JULY 31, 1931. ZAMORA REGIME VOTED GONFIDENGE o Sudden Action of Assembly Follows Sharp Three- Day Debate. Abert Bushnell Hart, Historian, Says Plan Is-Absurd. Prepéres to Trace Family of Washington on Trip to England. By the Associated Press. e MADRID, Ji 31.—The Naticnal AMM!“I’ last night, by accla- mation, gave a vote of confidence to the present provisional ent, | Dr. Albert Bushnell Hart, noted his- headed by Aleala X ; The was L:ken suddenly after torian, now afilisted with the George Washington Bicentennial Commission, thinks the 1 to eliminate the Cornwallis surrender scenes from the forthcoming pageant at Yorktown is “the silliest thing” he “ever heard of.” On the eve of sailing for England to sharp debate which listed three days and during which the government was severely criticised by s number of mi- nority deputies. Sh'wing a great deal of emotional strain, President Alcala Zamora ad- dressed the Assembly, after the vote of confidence was taken. ‘cest “"Zhe cabinet will continue working,” he said, “with hands as clean as those xl::gh delivered the government to this ly. g le we waited long and anxiously for this moment, we are ncw glad that you expressed all the criticism you decmed necessary, especially these criti- cisms of the ministers of nteror, labor and marine, because now we can work gon&:rucuvely on a parliamentary asis.” Folloy upon the President’s ad- dress, President Besteiro of the Assem- bly adjourned the session, extreme,” Dr. Hart declared. “York- town means nothing if we are to forget that Cornwallis surrendered there. Ho can the surrender of Lord Corn‘lllln be celebrated without recognizing the event itself? If we are to eliminate the surrender from our pageants, then we should strike it from our history books, for it might. prove offensive there, t00.” Plans English Visit. Dr. Hart said he would visit the old English town of Washington, which is to stage a series of pageants in honor of George Wash- ington, whose ancestors founded it. The Bicentennial Commission is- send- ing to the town an outline of the paze- ant to be siaged here next year, includ- ing major scenes depicting the Corn- wallis surrender. Dr. Hart will visit some 200 places | in England where members of the Cardinal Asks Return. TOLEDO, Spain, July 30 (#).—Car- dinel Primate Pedro Segura, in a pas- toral letter dated Belloc, France, has demanded tho right to return to his rg:;g.e in Spain, “for the common good. The cardinal was exiled by the gov- ernment a few weeks ago. He is Bishop of Toledo. Declaring that “the present trying moments of the church in Spain” had previously prevented his speaking openly, he said the government compelled him to leave Spain twice, not once, and expressed pity for “those who merit excommunication.” He added, however, that he was “willing to forgive” his enemies. lly called Wessyngton, appears to have been the first home of | the Washingtons, then known as De| Wessyngtons. Sir Willlam de Wessyng- | ton was the first to settle there. His descendants scattered and owned many estates, inculding Sulgrave. 53 £ ‘Washington himself was un- | 5B certain as to_the original home of his With the percentage of increase in |ancestors,” Dr. Hart declared, “and the number of dwellings being mcre | Wrote one letter in which he said he than twice the rate of population |thought his family came from one of | growth, Czechoslovakia expscts to soon | the northern counties. A distant cousin, | relleve its housing shortage. authorities on all U.S.ROYALS are better than alibis U. S. Safe Tires at the lowest prices in ten years make scrub tires Set the Standard ba [FIGHT TO IGNORE SURRENDER AT YORKTOWN TERMED SILLY Distinction” to the group of sixteen Double-Front Engli completed in Foxall. @ In this public demonstration of "Homes That 709 «« ACUTE INDIGESTION strikes nght! late at (when drug stores are closed.) Why not be safe with Bell-ans on hand . . . Now! BELLANS 2 BDOMINAL SUPPORTS Fitted Professionally GIBSON’S 917 G St. N.W. DR. ALBERT BUSHNELL HART. 1 SECOND-HAND SET HARVARD CLASSICS PAUL PEARLMAN DL 3543 1711 G St. NW. Sir Lawrence Washington, who lived | many years before George, appears to have settled the question of origin on his. tombstone. Fhe inscription says | that Sir Levraper was ‘of the Wash. ingtons of Du*ham.’ The town or; :';uhlnmn is in the county of Dur- m.” Coats-of-Arms Differ. Dr. Hart also will study the coats-of- arms of the Washington family, of | which there are approximately 60 dif- | ferent varieties, he states. “George Washington himself used three difierent coats-of-arms,” Dr. Hari | said. “Most of the designs have three | Ne stars, with a raven or eagle, but rome | ©poil your life. Eut you should nave have lions, swans or other animais, in- | real help The burning acids in your cluding an elephant. The clephant got | body must be eliminated before they the coat-of-arms in an amusing| make you an easy victim of more About a hundred ycars ago a man | dreaded diseases. An eminent special- named Chandler ordered an artist to| ist says. “I have found Mountain make a memorial window, which was to | Valley Water very valuable in Rheu- bear the Washington insignia. The| matism and Uric Acid cases.” Na- artist mistook & rough sketch of an| tionally recognized, this natural and animal given him as a guide for an | pnysiologically balanced water is s elephant and the design went in the | gependable aid also in high blood window that way.” | pressure. Order s case today, or The stars found on several of the | phone Met. 1062 for free booklet. g e tener = P ™| MOUNTAIN VALLEY WATER holes in the center. “They are not really stars” he ex- For 75 Years the Prescribed Water at Hot Springs, Ark. plained, “but cockle spurs to be found 306 Dist. Natl. Bank Bldg. Arthritis—Neuritis Rheumatism High Blood Pressure torturing pain of Arthritis, s and Rheumatism need not on a riding boot, and they indicated | that the Washingtons were knights— | hence of the aristocracy.” ¥ Silver Star Homes Committee awards honors to FOXALL’S NEWEST GROUP ® The Silver Star Homes Committee, composed of a group of eminent phases of the Home, has awarded the "Silver Star of Homes just " being sponsored by The Evening Star, the award is > d upon the excellence of such fundamentals as plan, design, construc- tion, equipment. deccration, landscaping, community set¥ing and value. Priced from $11.350 to $14.850 @® These homes contain six and eight rooms, with one, two, nd three baths, maid's room, Bryant automatic gas heat, complete insulation, Kelvinator electric refrigerators, garage, etc. ® Drive out to Foxall ... to the "Silver Star" group and to our Furnished Model Home . . . and you, too, will be compelled to award them the "Silver Star" of YOUR approval. Come by way of Que Street and Reservoir Road to 44th Street, turn left three short blocks to Volta Place and then i:rn right to avoid a short moratorium pending these separate negotiations.” BACKS LONDON PROGRAM. too expensive at any price! Your Own MacDonald Convinced Plan Was Best One for Reich Relief. LONDON, July 31 (#).—Prime Minis- ter MacDonald told the House of Com- mons today that as a result of his visit to Berlin he was convinced the Seven- Power Conference in London had taken the proper steps to relieve the immedi- ate financial difficulties of Germany. The prime minister pointed out that the visit of himself and Foreign Sec- SPECIAL NOTICES. THE ANNUAL MEETING OF THE STOCK- nolders of The Potomac Insurance Company of the District of Columbia will be held at the office of the company, 900-6 P street northwest. on Monday, August 3. 11 am. Books for the transfer of stock will be closed {rom July 25th o August 3rd, inclusive. ALEXANDER K. mér.?.rr"s‘ B S R T 1 WILL NOT BE RESPONSIBLE FOR DEBTS contracted for by any one but mysell. LAWRENCE P. ROYS, 131 Gilman st.. Clar- endon, Va. 31° ALUMINUM PRIMED FLOORING stock. OPEN UNTIL no delivery after bargains In door: r N W IN 5 P.M. SATURDAY{ 1 pm. " 'We have special s. windows, blinds and lum- er. Let us figure your list and solve your P A T M. SATUR- DAY. EISINGER MILL - Bethesda. M. Wis. 2406, e FISHING_PARTIES CATCH LOTS OF tty. Phone No. : Capt. Winfred Haddaway. . o ge FOR RENT—SECOND-FLOOR STORE OR office; desirable location: corner 10th & E sts. n.w.: opposite new building of Potomac Electric Power Co.; entire floor: attractive lease terms to good tenant. Call MR. MOTT. Msi 1844 CHAIRS FOR _REN1, SUITABLE _FOR BRIDGE PARTIES, banauets, weddings and meetings, 10c up per day each; pew cha Also_invalid rolling_chairs for rent o UNITED STAT) RAG i 'ES STORAGE CO.. 418 10th si_n.w._Metropolitan_1844 LONG-DISTANCE MOVING — WE HAVE been keeping faith with the public since 1896. k_about our country-wide service. 2l ICT,Z\)» DAVIDSON TRANSFER CEMENT WORK_CEMENT WALKS, STEPS, coping, garage floors, porches EAST CONCRETE CO.. _6277th NE. Lincoin 0500. 1% WANT TO HAUL FULL OR PART_LOAD o or from New'York. Richmond. Boston. Pittsburzh and all way ‘points: spacial 1aies NATIONAL DELIVERY ASSN._ING. 1517 ne . Al Call_Natio; & STORA( 5 ._Local moviner THE FOLLOWING CARS WILL BE SOLD at Weschler's Public Auction for charges on August 8. 1931 A Davis, Nash Sedan. Md. 127-041. J Talbott, Willys-Knight, P-7359. , Garaner Stewart Motor Co.. Dodze Couve. 3.B. Sandifer. Rickenbacker, T-8648, By CALL CARL. ING. ATy 614 H St. N.W.. City WANTED—LOADS Aug. 3 Aug. 3 $eaaas Aug. 12 uts North and West. AGENT LIE‘D VAN LINES ~We also pack and y STEEL LIPT VANS anywhere TH'S TRANSFER & STORAGE, 1313 You St. N.W._ Phone North 334 COF WORK iy nature promptly and capably looked bY proctictl roofers Call us up | Roofing 119 3rd St. 8.W | Company __ District 0923. _ | R Iiz%e Ycur Appeal to your prospects through a National | Capital Press printed message. This million-dollar plant is at your service. The National Capital Press 1210 D St N.W ___Nat. 0850 Experience Counts —in_ Plumbing. Guide yoursell by uu; 25 'years'continuous service. No Jol oo small. Budget payments if desired. 3. (4 1411 vV Lt ELOOD S bR Day, Dec, 2700—Evenings, Clev. 0619. Remodel NOW LUMBER SASH DOORS BLINDS WINDOW FRAMES “No_order too small.” Sudden Service. FRANK KELLY, Inc. o Il NW. North 1343 — Millwork—Paint—Coal - Sand—Gravel—Cement evERFRE MAGiESIA | SH| AND BE SURE YOU GET IT! 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Ask for EVERFRESH by name —and make sure you get EVERFRESH. 25c IN SPARKLING CLEAN NEW BOTTLES ONLY FOR YOUR PROTECTION “A ou’ll enjoy your Vacation | all the more . . . because Sstar Mail or leave your address or itinerary at The Star Business Office, and The Star will be mailed to you with the same dispatch as if you were in your own home in Washington. month . week month week BATTERIES i O f t h e Even though every day Rates by Mail—Postage Paid Payable in Advance | | | | Maryland and Virginia \ ' | 0 w N Terms. Cash or Liberal Allowance Credit. On Your 5 Old Tires 1234 14th St. N. W. 624 Pa. Ave. S. E. 2250 Sherman Avenue N. W. 1522 WASHINGTON OWNED AND OPERATED * will be replete with inter- est and pleasant surprises . ..news from “home” will always be welcome . . . lNDEPENDENT Reading The Star while you are vacationing will keep you posted as to local happenings. Evening e Sunday. Evening. Sunday. 8¢ 50: 40 15¢ SEALK PROTECT THE THOMPSON’S the homes. Oper from 9 a. m. to 10 p. m. WAVERLY TAYLOR. % Nat'l 1040 K Street NOT CONNECTED WITH ANY OTHER DARY INSTITUTION IN WASHINGTON OR ELSEWHERE THOAMPSON'S D Al RY DpeEcaturiaoo PAST 'E'x?grienced Advertisers Prefer The Sfar