Evening Star Newspaper, August 2, 1931, Page 3

U. 3. JOINS FRANCE IN AID T0 LONDON Jwo Gold-Wealthy Nations Extend $250,000,000 Credit to Bank of England. By the Associated Press. NEW YORK, August 1.—The world's two gold-wealthy nations today dipped into their coffers to fortify the chief center of world financial settlements. ‘This, in effect, was the co-operative extension of a credit of $250,000,000 to the bank of England by the Federal Reserve System and the Bank of France, ‘Wall Street bankers who discussed in- formally the conclusion of this credit described it as a step of deep signifi- cance in the efforts to restore world financial stability through international co-operation. Although New York and Paris have risen as formidable rivals to London as | important money centers since the World War, London has remained the ringipal center through which world fnumauoml payments have been cleared. Crisis Felt in London. Tt was not surprising, then, that the financial crisis in Central Europe should have had important repercussions in London, which has been left by the war without a plentitude of monetary gold. ‘While Wall Street bankers have been inclined to the view that Germany must help herself for a time before anything more can be done for her, they have viewed as unfortunate the drain upon London gold stocks, and have for sev- eral days informally expressed willing- ness to aid the Bank of England. It was explained in international banking circles here that there is no real comparison between the London and Berlin situations. The Bank of England’s increases in ts discount rate, taking it from 2%z to 4'% per cent in the past two weeks, had already checked most of the drain upon her gold supplies, but sterling exchange against dollars is approaching the sea- son when it comes under considerable pressure, as London seeks dollars to pay for American cotton and wheat. Suffered Heavy Drain. The Bank of England’s immediate problem, of course, has been the month- end settlements, coming on top of the drain upon her gold. In about two ‘weeks the bank lost roughly $160,000,000 in gold. reducing her reserves to about $650,000,000. ‘This compared with monetary gold held by the Bank of Prance of roughly $2.300,000,000. In contrast, the total gold reserve of our Federal Reserve system, according to this week's statement, was $3,440,000,000, while total stocks of monetary gold in the United States was roughly $4.950,000.000. The sterling bills will be purchased only as offered by the Bank of England, and it was pointed out in banking circles that it mav not find it necessary to of- fer any. When the Federal Reserve of- fered the Bank of England a gold loan of $200,000,000 in 1925, in connection with England’s return to the gold stand- ard. the loan was not used, eventually. Sterling exchange, in terms of dol- lars, improved on announcement of the loan today, although Saturday is a quiet day in foreign exchange trading. Ster- ling cables rose 3-32 of a cent to $4.857s. No comment as to the rate of interest of the loan, or iis maturity, was avail- able at the reserve bank here. NEWTON WILL ADDRESS CAPITAL BOYS AT CAMP Walter Newton, secretary to President Hoover, will address Washington boys vacationing at Camp Letts in an open- air chapel service this afternoon. The camp is operated by the Washington ¥. M. C. A One of the listeners will be John Marshall Newton, young son of the secretary, who is spending several weeks at the camp. Mr. and Mrs. Newton are regular Sunday visitors to the camp. There will be a special program of music for thé service tomorrow, in charge of the youthful campers. The Newton boy has established himself as one of the musical geniuses of the camp through his ukelele accomplishments. He is also an expert swimmer and a leader in organizing the turtle races which have featured the fleld days this season. SPECIAL NOTICES. ALUMINUM PRIMED FLOORING NOW IN stock. OPEN UNTIL § P.M. SBATURDAY: no delivery after 1 pm. We have special bargains in doors. windows, blinds and lum- t us figure your list and solve your problems. Everything in high-grade lumber and miliwork. “OPEN TO 5 P.M. SATUR- DAY. EISINGER MILL & LUMBER CO. Bethesda, Md. Wis._2400. FISHING PARTIES CATCHING LOTS OF fish Md.. in_early evenin; party. Phone No. 10 Tilgham, Capt. Winfred Haddaway. BT QUARTERS SUITABLE FOR BEAUTY PAR- lor: 2 large rooms facing F st. t Al of LeDroit Bldg.. 8th n [ 482 Inai er. 1 AIRS, FOR RENT OR sale; complete line of new and used chairs: sizes, styles and adjustments: reduce brices Also folding ehairs, wood ‘or metal. UNITED STATES. STORAGE CO.. 418 10th St. N.W. Met. 1843, SECOND-FLOOR 'STORE O §ts. n.W.; ODDOS! lectric Power Co.; ease terms to good tenant. 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Day, Dec. 2700—Evenings, Clev. 0610 Weds Prince AMERICAN GIRL MARRIES IN LONDON. | | ! MISS ALEENE McFARLAND, Daughter of Mrs. Charles McFarland of New York and Weatherford, Tex., was married in London, England, to Prince Johann von Lichtenstein, a member of the reigning house of the principality of Lichtenstein. Her father, who died in 1926, was a “cattle baron” of the Texas prairies. Few families can boast & more ancient lineage than the prince's, for the original of the royal house of Lichtenstein dates back to 1249, —A. P. Phow. TALK OF COOLIDGE 152 RACE REVVED Today, Anniversary of Entry Into White House, Holds Wide Significance. | By the Associated Press. Eight years ago today, upon the death of Warren Harding, the presidency went to Calvin Coolidge. Four years ago today Mr. Coolidge announced, “I do not choose to run for President in 1928." | On this anniversary day, which has become filled with national significance, Herbert Hoover is entering the new quadrennial campaign definitely in the race for renomination, although he has made no announcement nor is he ex- | pected to by political leaders. | _ Coincidentally, the name of Calvin | Coolidge is again in the political discus- ision through the statement of his 1 friend and former physician, Dr. F. Coupal, that Mr. Coolidge would have liked to have been “drafted” in 1928 and that he could be “induced” to run again in 1932, | Leaders Stand by Hoover. ‘The Coupal statement drew consider- able interest in politically-minded Washington and some cautious specu- lation. However, the Republican Old Guard leaders are standing by Mr. Hoover for a second nomination. Senator Watson of Indiana, the Re- publican leader, expressed the view that the President would be renomi. nated. Senator Moses of New Ham shire, another of the Republican regu- lar chieftains, this week asserted. “It not in the cards for any one to take the nomination away from President Hoover.” But there is no assurance that Mr Hoover will have no opposition for re- nomination and the politicians insist that with a long session of Congress ahead it is too early to make definite predictions. Mr. Hoover has split with the Repub- lican independents from the Northwest on his farm relief and tariff poilcles. That group will be the balance of power in the next Congress, meeting in De- cember and running through to the conventions. Col. Mann to Switch. Meanwhile, Col. Horace Mann of ‘Tennessee and Washington, who man- aged the Hoover campaign in the South in 1928, is making his plans_for an- | other candidate’next year. In this con- nection the name of Calvin Coolidge again is heard frequently. ‘There are some here who believe it probable Mr. Coolidge on this anni- versary of entering the White House and of his withdrawing from active participation for renomination might make today the occasion for another declaration—in view of the Coupal statement. While Mr. Hoover has made no an- nouncement and has not indicated that he will, Republican leaders and his friends have no doubt whatever of his intentions. Certainly he has done nothing to halt the work of official leaders in his behalf and he has made no complaints against their utterances about his renomination. “The Pilgrim's Progress” has been translated into Tubetube, one of the Papuan tongues, for the ex-head- hunters of Papua, who, in 1901, gained notoriety by the murder of a missionary and his party. | BIRD BATHS $2.75 19x221%-in. Larger Sizes $5.00, $7.00 and $10.00 Flower Bowls and V. Hours 9 to 6. Saturday 9 to 12 Noon. Ernest Bros. Columbia Pottery 1109 Bladensburg Road 3 Blocks North of 15th & H N.E. Atlantic 4447 THE SUNDAY STAR, WASHINGTON, D. C, AUGUST 2,/ 1931—PART ONE. |FRANCE DEFENDED | ON DEBT ATTITUDE Institute of Politics Speakers Sees Friendliness Toward Germany. By the Associated Press. TOWN, Mass., August 1.— France, which has borne the brunt of critical and sometimes accusing com- ment in discussions of the disarmi ment conferences of the Institute Politics, found champions in today continuation of the three-day argument. William E. Raj , director of the School for Higher International Studies at Geneva, and Charles A. Leneveu, resident of the Colonial Union and lormer PFrench diplomat, earnestly up- held PFrance's friendly spirit toward Germany and her desire for peace as well as security. After agreeing as to the good inten- tions of all countries concerned and listening to the idealistic disarmament program advanced by W. Arnold For- ster, member of the council on foreign affairs of the British Labor party, the conference called it a day and a week. ‘The 300 men and women who have been wrestling with some of the kno tiest economic, political and social rl’oblm in the world's history, piled into automobiles for week ends in the neighboring mountain resorts or formed walking parties to explore the Hoosac Mountains. Disarmament Due Again. On Monday the conference will re- convene for a final go at disarmament, discussing the subject from a technical standpoint. The next subject for con- ference discussion is the “Treaty of Parls.” Dr. George H. Blakeslee, pro- fessor of international relations at Clark University, will be chairman of the conferences. Summarizing German-Prench dif- culties on the disarmament question, Prof. sald: “In France the love of peace among the people is preponderant. Nobody who truly knows the country can doubt that. In Germany you find & love of peace—if." means if certain conditions unfulfilled at present are fulfilled. It is impossi- ble at present, he said, to accuse France of desiring anything in particular which she does not already possess, whereas Germany is in the position of earnestly desiring several things. He said he regarded that point as Fronce's strongest argument; that her attitude in opposing armament cuts is purely one looking toward security. For Arms Equality. Mr. Forster made a plea for equaliza- ticn in disarmament. He warned agiinst a sheep and goat policy which would eventually drive Germany out of the League of Nations. He char- acterized present disparity in arm: ments imposed by the Versailles trea as fantastic. His program urged a per manent disarmament commission plus { limitation of natfonal conscription, abo- litlon for everybody of weapons pro- hibited in Germany’s case and a limi- tation of expenditures for effective armaments. All speakers of the morning with the exception of Norman Thomas, So- cialist president of the League for Eco- nomis Democracy, expressed belief that the home-loving and orderly character of the German people made a revolu- tionary upheaval in that country un- likely, if not impossible. Jugoslavia's part in the European situation was described by Dr. Luigi Villari, Italian lecturer and writer and son of the Italian historian, Pasquale Villari, as that of an agent functionin for French policy. Cause of Italian Arms. Italy could and would reduce her military establishments were it not for her eastern neighbor, Jugoslavia, Dr. Villar{ explained to the disarmament would have no quarrel with Jugoslavia were it not for France, he said. with France,” Dr. Villari sald, “relations also improve. Jugoslavia must be re- garded simply as a function of French policy. In the future, of course, she might become a function of the policy ‘The “if” Prof. Rappard finished with | conference of the institute. And Italy | “If better relations were established | with Jugoslavia would automatically | renchman’sBrid LOS ANGELES GIRL WEDS CLEMENCEAU’S SON. MRS. ANNETTE SMITH AIKEN Of Los Angeles, Calif., became the bride of Miéhel Clemenceau, 52-year- old son of the late French statesman, Georges Clemenceau, at a civil cere- mony in Paris, France, Thursday. Mrs. Alken, who is 44, is daughter of late Jaspar Henry Smith and was divorced from Priand Martin Aiken in 1930. Clemenceau, an engineer, is father of two children by former marriage to Mlle. Jeanne de Clynssen of Belgium, from whom he was divorced in_ Feb- | ruary, 1930, —A. P. Photo. 'HOOVER DESCRIBED AS WORST GUESSER Caraway Says Wheat Prices Drop- ped After President Fore- cast Improvement. By the Associated Pres: President Hoover was described yester- day by Senator Caraway as “the worst guesser that ever occupled his exalted position.” In a statement issued through the Democratic National Committee, the Arkansan recalled the Chief Executive's letter to Senator Capper July 18 saying the “major problem” of the wheat farm- | er, caused largely by paralysis of the | export market, “has been solved by aid given German! Caraway added that on July 30 wheat prices on the Chi- cago Exchange had dropped 7 cents. “The country was anxious to believe |that the postponement of debts and | reparations payments would avert a | European crisis,” Caraway said. “The | President certainly has had almost | unanimous support th what was claimed to be a constructive move, but the epi- | sode of the nose dive in wheat demon- | strates_again that whatever virtues the Chief Executive may have, competency as a prophet is not among them. | ““His assurances at the beginning of the Hoover panic that the depression | was merely a stock flurry, the damage !of which would be repaired in 60 days, did not miss the mark any further than did his mid-July prophecy that his farm program would rehablilitate the price of vheat.” b | Leesburg Firm Chartered. GERMAN SITUATION IMPROVED IN WEEK Many Constructive Steps Taken to "Aid Economic Recovery of Reich. By the Assoclated Press. BERLIN, August 1.—Germany's financial difficulties are not over, but tonight the nation could look back over & week filled with constructive actions which provide a basis for a strong hope of improvement. tion of the acceptance and guarantee bank early in the week paved the way for wider extension of credit by the Reichsbank to the big German banks, and formation of the “Berliner Lombardkasse” provided a means of loosening the credit tension among the smaller private banks. Industry met another pay day and many of the big concerns made no use of the recently extended right to pay salaries and wages in installments. The big Darmstaedter und National Bank, which closed on July 13, was put back on its feet with the assistance of the government and the big indus- trialists, and government! went deeper into the banking business by buying 300,000,000 marks (about $75,- 000,000) in preferred ‘'stock of the Dresdner Bank to assure that institu- tion’s stability. . Further Relaxation Planned. In addition to these moves, other ar- rangements necessary for resumption | of commercial bank payments next week | were completed and the Reichsbank | prepared for further relaxation of | credit restriction. | Resumption of normal savings bank | payments will be postponed ‘till later, | still uncertain when it will be possible to | reopen the stock exchanges, but this no_doubt will come soon, for normal PHILCO RADIO - None Better— Few as Good Sold on Easy Terms GIBSON’S 91519 G St. N.W. New FUL-VUE Gold Frames | RICHMOND, Va. August 1 (Special). | —The Van Senden Corporation of Lees- | burg has been granted a charter au- | thorizing it to deal in real and per- | sonal property, with maximum capital of 1000 shares without par value. John’ Galleher of Leesburg was listed as president. of some other power, but for the pres- ent she takes her cue from France.” Dr. Villari, who is a well known fig- | ure at League of Nations gatherings | and in international emigration and im- migration work, explained the unwill- ingness of Italy to reduce armaments to a level beneath that of any other continental power as & result of the geographical situation. Italy is more vulnerable fl'l)}l':l thled sea than Great e said. Britain even, I 2 X222 X222 XXX 22222 2 L FSOIN Saltz Brothers’ Fine Quality IRISH SuU LINEN ITS Are Now on Sale at Reduced Prices $14.75 $17.75 $18.75 $19.75 Sizes 36 to 46. Single and Double Breasted Models Seersucker Suits, $12.50 Sizes 35 to 46. Brown, Grey and Blue Stripes SALTZ BROTHERS 1341 F Streef N.W. L E XXX XX XX 2] YLV PBVVEY The frames that give a new beau not Come in and see for yourself! pays fer complete 1 service. 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Brand New Fur Coats Bea in Sealine, Muskrat, Caracul, Broadtail. Silver Muskrat. Some Trimmed Poney. With Latest of Furs. Brand New Fur Coats. Latest in Styles $ handling of loans on collateral cannot ;&:flmfl until the markets are op- 8. Beyond these attacks on the ba crisis there also was progress lnnk& problem of rehabilitating trade and in- dustry. In this connection there came from the United States the suggestion that Germany could buy wheat and cotton there on liberal credit terms. Perhaps the most hofitul sign of all, however, was the calmness of the public. Under the strain of the past few weeks the people are worried, but they are far from panic, New Decree Issued. ‘The government tonight issued an emergency decree governing the partial resumption of banking and financial business next Monday. It covers the | authorization of withdrawals of up to 50 marks ($12.50) from savings bank accounts and the resumption of trans- fers between banks. ‘The decree, which covers 13 iype- written was issued at midnight. It regulates, in a detailed manner, the acquisition and d 1 of fore! cur- rencles, gold l.ndkgl?:c.hu! metals, s a set of legal barriers against the “flight of the mark.” ‘The government threatens to punish with imprisonment up to 10 years and with heavy fines any of its citizens who buy foreign currences for other pur- poses than paying interest on foreign loans or repaying such loans. The same punishment applies to 1l- legal dealings in gold and other precious metals. gs in foreign securities are also prohibited. Will Net Hamper Tourists. According to the new order, no per- son residing abroad, in the Saar district, is to be credit First Showing Home Beautiful 5029 Kansas Ave. N.W. & CAFRIT Builder Over 3,000 Lifetime Houses Built and Sold POLICE EXAM. Coaching Course Printed Lessons to Study. Classes Mon., Wed.,, Friday Evenings, 7-9. Tuition, $10, 4 Weeks or Less. BOYD SCHOOL Civil Service Coaching Speeialists 1333 F St. Nat. 2340 Owner $6.95 50c a Week ty to glasses. The eye is hidden by the temples! 004 F St. N.W. e 0 0 0 00 BRICK FRAMING FLOORING SHEATHING DOORS WINDOWS FRAMES PLUMBING RADIATION 2x10, 2x12) select just re List AIN OFFICE—15th & H Sts. N.E. sS.wW. e S S e e e S e S S S St .$ 29.75 $ 39.75 iastors sl No currencies or securities :‘l‘mm bank BOOK TO BE REVIEWED Mrs. Florence Jackson Stoddard will review Andre -Slegfried's “America | Comes of Age,” at a picnic forum of members of the District Women's Demo- | cratic Educational Council at Plerce | Mill Pavilion, Rock Creek Park, tomor- Tow evening. Mrs. Stoddard is the author of many books, and it at present at work on a novel discussing politics in Washington. —— e Fire Auxiliary to Meet. MOUNT RAINIER, Md. August (Special) —The Women's Auxiliary of the Prince Georges County Firemen's tion will meet Thursday night in the Mount Rainier fire house. Final ar- rangements will be made for the float of the auxiliary, which will participate in | 1 * A3 e KANSAS REALTOR BUYS TOWN TO CORNER:)0gS ] Ge George Washington Winters 8ix Businesses and Home, Work for lnnni. ; By the Associated Press. WICHITA, Kans.,, August 1.—George ‘Washington Winters, Wichite ZTealtdr, has solved the problem of supplying Summer jobs for his children by buying a town. Mr. Winters purchased Waco-Wego, a small town 12 miles south of Wich- ita—that is to say, he purchased the garage, filling station, grocery store, soda fountain, lunch room, oil siation and s home, which constitute visible Waco-Wego. Then he moved his family there, so his three boys and one daughter mow have a varlety of jobs at their disposal. The town is on a main highway. HEART ATTACK FATAL Rescue Squad Works Over Man Stricken Suddenly at Home. John Francis Doyle, 59 years old, died suddenly yesterday afternoon after be- ing stricken with a heart attack at his home, 832 Concord avenue. ~ ¥ :;l‘a pun?ye ifi. the n':n;l hconv::tlnn of e coun 'men 5 i eld in Upper Efforts of No. 2 Rescue Squad and an Emergency Hospital physician to revive him were futile. FILE CLFRK %)%&M%NAT[ON ? ASSISTANT STATISTICAL CLERK CORRESPONDENCE. COURSES ASSISTANT STATISTICAL CLERK File Clerk Coaching GRIGIN OF MACHINERY IMDORTS INTO JAPAN Course Filing and Spelling—300 words mis- spelled and correctly spelled elsewhere. Arithmetic—Many prob- lems are given, including solutions and answers. rmer examina- This information is not 3 book. 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