Evening Star Newspaper, September 21, 1931, Page 3

EXCHANGE INVOKES SHORT SELLING BAN Action in New York Follows British Suspension of Gold Standard. -~ _(Continued From First Page.) eisted the market's downward cours eventually rallying $1 net. American Can turned a $2 loss into a small gain. Other losses, ranging from $2 to $6 in such issuer as Consolidated Gas, Eastman Kodak, Woolworth, Atchison, Public Service of New Jersey, Allied Chemical, American Tobacco, Standard Ofl of New Jersey, New York Central and Union Pacific, were cut down when the tide turned Shorts Scramble to Cover. ‘What started as a heavy liquidating movement turned into a bear rout be- fore the session was an hour old. Shorts, who had built up large com- mitments during the September decline, scrambled to cover when the market caught its breath after the first tor- rent of selling, doubtless frightened by the market’s success in absorbing those sales, as well as by the governing board's invocation of the rule against demoralizing short selling. United States Steel, well supported throughout the first hour, soared nearly $4 a share. American Telephone fully recovered a break of $5.62. Union Pa- cific jumped $5 net after dropping $2.75, and Genersl Motors. which had fallen $2, sold $1 above the Saturday close. American Can, Western Union, Bethlehem Steel and many others ral- lied strongly. BRITISH CALM IN CRISIS, Decision Ts Reached to Keep Stock Exchange Closed Tomorrow. LONDON, September 21 (#).—Great Britain took the government's emer- ncy measures in her stride today and usiness was carried on “as usual” with no attempts to withdraw funds from ba; nks. Posting of the bare notice, “bank rate 8 per cent,” at the Bank of England was the only outward sign of the mo- mentous decisions to suspend the gold standard, increase the discount rate and close stock exchanges for a day. Exchange Committee decided that the stock exchange shall rema’n closed to- morrow. Orders were given inside the various | banks not to issue drafts abroad in ac- cordance with last ‘night's notification, but nq action was taken in connection | with interest on deposits or charges on loans. These automatically were al- tered with the change in the official minimum, but because the advanced bank rate is a temporary measure it is possible that no alterations will be made. The foreign exchange market, usual- 1y busy on Monday mornings, is pot making quotations for the present. It ‘was not known whether there would be ' any restrictions placed on dealing in foreign exchanges. and until this ques- tion is cleared up no quotations are be- 1ssued. Banks Adopt Waiting Policy. Inquiries were being received from the continent but no business was being done as dealers and banks in those cen- ters are waiting to see what happens in the way of restrictions here. With the doors of the stock exchange closed, the members gathered in Throg. morton street to discuss the govern- ment’s steps and the general concensus was favorable. Detzils of settlément ‘were being conducted and the exchange settling room was oren for checking Baturday's transzctions. Prices on commodity exchanges in- creas:d today. On the metal exchange in London copper rose more than £2 a ton to £ 30 2 shillings 6 penee. Tin was nearly £6 a ton higher at £117. > At Liverpool cotton sdvanced almost & half penny 2 pound to just over four pence. Cabinet Meeting Convened. ‘Brought back from his country home at Chequers by the Prince of Wales, Prime Minister MacDonald hastily con- | vened a cabinet meeting last night, and it was decided that the gold redemption act of 1925 should be suspsnded to halt alarming withdrawals of gold by for- eign investors. Parliament is e: to pass the xpected enabling legislation tonight, after which | it will go to King George in Scotland for_his approval. : ‘The bank rate was raised from 4!; to 6 per cent, a figure which was set in July. Tt hia B0t et up to 6 per cent since October 31, 1929. The highest it has béen since the war was 7 per cent, and the highest during the war was 10 per cent, set two days the declaration of hostilities on August 3, 1914, Pending action by Parliament, it was decided to close the London Exchange BLE FOR ANY than ‘my- MANUEL. 114 n.w. 21° WHO OWES specialists collection is made. -FEDERAL PROTECTIVE BUREAU. 30 i CARP] AND BUILDER —REPAIRIN remodeling. oak floors: small jobs as low plans furnished. Call Pot. 321: 35, 36 du: 3 GOING? WHERE? ELL US WHEN AND we'll move your furniture and take mighty jood care of it at low cost. A telephone all will save you time and trouble. NAT DELIV. ASS! Nat. 1460. JOHN GABRIEL. HAVING SOLD HIS BA ber shop busiress at 1204 New York ave, w. to James H. Fox, creditors. if any, are y notified to pn;:n' ¢! L v NG-DISTANCE MOVING — WE HAVE m - keeping faith with the public since our country-wide service. . DAVIDSON TRANSFER 7Y (8) days from date. b3 . . Ask about Call National $220. & STORAGE CO. TQ PHILADELFHIA ' PITTSBU G! Sep:. i, nd ali pornte. Korth and West mGENT ALLIED VAN LINES We also peck and ship by STEEL LIFT YANS anywhe:e. SMITH'S TRANSFER & STORAG 1373 Voo Br N TBhone Neron 253 Furniture Repairing Upholstering Chair Caneing CLAY ARMSTRONG 1235 10th St. N.W. Metropolitan 2062 Bame loc; 21 years, Ir:;;! insures low prices and Cromar-Finished | OAK FLOORING ~ready to be laid. Combines beauty with utility. Ideal for new or old homes, #No order too small” “Budden Service. J. FRANK KELLY, Inc. 2121 Ga. Ave. N.W. North 1343 ber— At illork—Paint o Coal—Send—Gravel—Cement IT'S GREAT TO HAVE ] e COMPORTABLE "THiAT Yoy 5° Hurry to It at Night Yours might feel & whole lot better if your box spring. matiress and piiows were renoe veted. | “g Bk Complete “Sleep Service.” BEDELL M’F'G CO. __National 3631 —of any pature prompt! ably jooked us up. 3rd 3] 1y an fier b ractical roofers k ~ fis ‘Roofing & K S Corwpans - District 6333 Visit Our New Print Shop —Where we are better eauipped than “ver 1o serve you with printing that impresses. } The National Capital Press ™', Minister Curtius FLA. AVE, 274 and N NB. Line. 6060, g(‘riod | efore Ask for prices and samples. By the Associated Press. The gold sitandard of exchange is normally in use by virtually eve civilized nation of the world. icizd on the fa:t that paper money [of a country’s bank of issus is redeem- able in gold on demand. "The suspension of goid pavment's in | Great Britain means ttat the Bank of England is not bound n-w wnder 6 act, of Parlisment of 1925 to buy gold bullion of stipu'ated standar’s for three | pounds 17 snilings 101, pence per troy | jounce. The act of Parliament in effect jreculted in the British pound sterling | being equivelent normally t> $4.86%,. In the British foreign exchange THE EVENING STAR, WASHINGTON Gold Standard Defined British Drop Act Providing Purchase of Bullion at " Fixed Price—System Used by Most Nations. xith the pound sterling its gold parity, in rela- currencich, it has been banks to acquire sterling pounGs In the smarkct, convert them |into fold 2t parity, and then convert go'd Into other currencies by ex- | porting the goid. {"The pound sterling was pegged I [ New York during the war at $4.76. It | reached this artificial height by means |of securities. sale of dollars held by | | British citizens i In 1919 it was decided to remove the support, and the sterling dropped, until | finally in 1919 it hit & new low of $3 19. | | *'The gold standard has been adopted 1 market, reeently | available boi t 3 § |t and those throughout the country to hold the market stable during the tran- sition. It was emphasized that banks would be open as usual and that busi- nees would continue on a normal basis. Premier Issues Statement. * Prime Minister MacDonald issued a statement calling attention to ths fact that more than $1,000,000,000 had been withdrawn from the London market | since the middle of July and that about $50,000,000 had been withdrawn in Sat- urday’s half-day of traiing. He em- phasized that his action was only tem- porary and that the nation's enormous resources would save the day if the pub- lic co-operated. “His Majesty’s government have ar- | reluctance,” he said, “but during the last | 10-days the international finan.ial mar- kets have become demoralized and have been liquidating their sterling assets re- gardless of their intrinsic worth. In the circumstances there was no alter- native but to protect the financial posi- at_our disposal.” The suspended section of the gold standard act ccmdpeh the Bank of Eng- land to sell gold in bars for £3 10%%d per troy ounce. The section read as follows: “The Bank of England shall be bound to sell to any person who makes de- mands in that behalf at the head office of the bank during office hours of the bank, and pay the purchase price in | any legal tender, gold bullion at the | price of 3 pounds, 17 shillings 1015 | pence per ounce troy of gold of the | standard of fineness bed for gold coin by the coinage act of 1870, but only in the form of bars -containing Will Broadcast Explanation, | cast tonight an explanation of the gold | situation. King George has been in constant touch with Mr. MacDonald, and he is understood to have been as- sured that his return to London will not be necessary. The Prince of Wales has | temporarily canceled his plans to go to | , Balmoral to see his father. The summoning of an international conference to arrange for better distri- bution of gold and to place interna- tional trade on a better footing was predicted by-the press in commenting on the government’s action. The pape:s expressed the belief Brit- ish trade gradually would revive under the suspension, that main industries would be stimulated and that unem- ployment figures would drop and that stock values would improve. tremist views of the situation and was | assured that vast stores of food and raw material in the country should in- | spire confidence. This view was stress- i ed by Arthur Henderson, leader of the | wrote in the Heral | “The situation calls for confidence, not despair—for steadiness not panic | and resolute’ we shall more speedily surmount the difficulties.” papers on the effect of what was de- scribed as hoarding of gold in th United States and Prance, but it was | attributed mostly 1o circumstances | rather than to deliberate intention. The | express said in this connection: “Ameri- | ea couldn't help it because the balance { was s0 heavily in her favor as a con- | sequence of the immense sums owing her as a result of the war, but France went gold mad.” Aim to Stop Goid Exports. That part of the gold standard act which is being suspended compels the Bank of England to sell gold in bars at | a fixed price. The object of its sus | pension is to stop the export of gold from Great Britain. Subsection 3 of the pact, which will continue in .force for six months, a | thorizes taking such measures in rela- tion to exchanges and otherwise as may be considered expedient for meeting | difficulties arising in connection wit | the suspension of the gold standard. It is understood that there will be | no attempt by the government to go i"° extremes in using the power it pos- sesces. A government spokesman to o | night emphasized that the present | has not been determined. Resi U MON] COLLE en determined. Residents of No_ Charse 107 services uniges | measures must be considered as only | Staten Island saw the plane dre | temporary | The net meeting at which the momentous decision was taken lasted | frcm 4 p.m. to 6 p.m. yesterday. There is said to have been complete uninimity among the ministers who, before agree- | ing to such a course, felt that every step | had been taken to avold ii. Courage Declared Needed. | The national government had been acting on ths assumption that it still | had time to push ahead its legislation— | the economy bill and the budget—and | that it kad time for negotiations with | friendly governments, particularly the | United States and Prance. It has been | acting cn the assumption that the case | of the pound sterling was by no means | | lost, “What the British people want” a| | Government spokssman said today, “is cold courage and warm feet.” | “The government is determined to | {stand no nonsense and drastic steps| will be taken to stop any monkey busi- ness. The government believes that if every one keeps calm and pulls to- gether the period of anxiety will be shortened. There is no need for any- | thing in the nature of a panic. Tt| would be of real value to the financlal position of the country if everybody \‘l]‘nu!? act on the slogan, ‘Business as | al." ‘The internal position of the country | {1s sound, but the public must help to keep it sound by avoiding panicky tend- | encles. It is reassuring for the public iz that there is a more than pply of food in the country t 'nt time. The governmen: intends to watch prices ciosel! | GERMAN BOURSES CLOSED. | | Berlin Ponders Effect of Crisis on Visit of French Leaders. BERLIN, September 21 (#)—G { man stock exchenges end metal bo remained closed today by government Torder in view of the unsettled finencial | situation in Great Britain. Tke proc:- dure for the rest of the week was not determined. The Bourse Committee de. cided to suspend quotations of secu; tizs, foreign currencies and metals. Curb dealings will not be permitt-d. For. | eign exchange quctations will be | | fcr the time being by the Reich.hany, ‘ London'’s goid c¢:iils w2s almost tre! sole topic discussed in political and | financial circ'es he: f | 'Berlin wondered what effect 1t would {¥ve on the visit, scheduled for next | Saturday, of Premler laval and For- eign Minister Briand of France, who lhl\'e planned to return the Paris visit made by Chancellor Bruening and| | Htuation for | hab credit freez- | tht in mb:&thflt it | rived at their decision with the greatest | tion of this country by the only means | 17s | approximately 400 ounces of fine gold.” | Chancellor Philip Snowden will broad- | labor opposition in Parliament, who | | The fundamental strength of the Nation | {1s unimpaired and if we remain calm | | Prequent emphasis was laid by the | to lighten the ! by most every country since the w 1 | ing arrangements already are in effect| jand sudden large withdrawals from Germany as a result of the British | crisis are therefore out of the question. It is recognized here that Britain's troubles at this juncture make even more imperative ‘the Franco-German | | understanding, which is accepted as & | pre-requisite for any workable plan |for European economic recovery. Emergency Parley Seen. Consequently, although it is ad-| | mitted the Laval-Briand visit to Bor- lin may have to give way to an emer- gency conference of Europe’s statesmen, even more emphasis is laid in_official circles on the necessity of a Franco- German parley somewnere. Should M. Laval and Briand find it} necessary, in view of the critical situa- tion, to postpone their Berlin visit, it is pointed out that they could meet the Germans elsewhere—for instance, en route to a general conference at Lon- don or Geneva. Ancre Francois-Poncet, the new French Ambassador, arrived in Berlin today and was welcomel by German officials and the embassy staff. STERLING NOT QUOTED. French Premier Announces Decision, but Allays Uneasiness. PARIS, September 21 (/).—No offi- ecial currency quotations were made to- dlr{ and the official exchange market did not open. After a conference with Finance Min- ister Flandin and treasury experis Premier Laval announced that the pound sterling would not b2 quoted. | Despite this measure the premier said there was no reason to be troubled. The meeting was held in the pre- mier’s office and in addition o the pre- mier and the finance minister those participating included an official of the Bourse, the director of the movement of funds attached to the treasury and R. H. Campbell, attache at the British em- . M. Laval refused to enlarge upon the subjects that were discussed. | Offer of Ald Is Made. | _“The British government has tak>n | all necessary measures and thcre is no| | uneasiness,” the premier said. AR ACES PLANE " CRH KLLS TWO |Hall Leaps Safe, Passenger and Woman Die as Ship‘ Fires Houses. | NEW YORK, September 21 (M.—l Peter J. Brady, president of the Pedera- ' tion Bank, was killed today when the| airplane of James Goodwin Hall, en' route to Detroit, crashed between two | | houses in Staten Island. Hall escaped with a parachute drop. | The two houses were set afire by the| plane, and a woman was burned lo | death. | Brady was assistant dock commis- | sloner in charge of aviation for the city. ‘He was en route to the American | Legion Convention in Detroit, where he | was to have spoken. | " The plane is the same one in which | Hall, a New York broker, has sought to broak speed records throughout the | country. The plane was seen to burst into | lames and plunge downwara. | Hall, wearing a parachute, landed | safely. | The burning plane, with Brady| | strapped inside, fell between two houses, | setting both on fire. Mrs. Mary Parito, |in one of the houses, was burned to| | death. | The Crusader, as Hall's plane was | named, had taken off a few minutes | earlier ' from Floyd Bennett Fleld. | ~The cause of the trouble in midair and | crash between the two dwellings, which | immediately caught fire. | Mrs. Parito had no time to escape | burning to death before firemen could reach the scene. Brady, who was about 55, was chair- {man of the mayor's Committee on | Aviation and in charge of the flying | field from which he took off. ! ‘The weather at the field was bad, officials stated, but reports from the area outside were encouraging. Brad: and Hall both put on their parachutes and laughingly posed for pictures as they climbed into the low-winged Lock- heed plane. Hall in the front cockpit. | Brady in the rear. Brady pulled the giass top down about him and waved jovially at the crowd watching the take-off. They took off at high speed, whirring | stralght into a stiff east wind. ARMY COST CURBED BY NEW BUDGET i Econsmies Effected Due to Dem’el-! sion’ Include Postponing Pay Increase. B7 the Associated Press. The War Department budget for the next fiscal year calls for no increases in the strength of any component of the Army and “certain economies be effected.” Acting Secretary of War Payne said today he had informed Col. Charles B. Robbins, chairman of the National De- fense Committee of the American Legion, that in addition to this, the department had decided to postpone requests for_increased pay for officers. The action, Payne said, was being taken governmental expendi- tures in view of the economic depres- sion c £ense bility to the Government, especially in {imes of emen‘lenry and stress. 1t tierefore has decided not 2ny claims which are not included in the program of its Commander in Chlef, the Presicent.” The department decided postpone requests fnr increased pay for cers despite its realization that “the rates of pay throughout the elvil brancies of the momm:ul service have generally been increased. An_investigation within the depart- ment has been varried on with & view to similar increases in the Army, | paper interviews. 1P MORGAN SEES BRTSH RECOVERY Declares “Hopeful and Not Discour- aging Event.” BY DE WITT MACKENZIE, Chief of London Bureau, Associated Press (Copyright. 1031, by the Associated Press.) LONDON, September 21.—J. P. Mor- gan today expressed to the Associated Press optimism regarding the situation arising from Great Britain's sensationa! suspension of the gold standard. He sald it was a “hopeful and not a dis- couraging event. Mr. Morgan made this statement in reply to a question from a correspond- ent who sought him in his private office, Inot far from the Bank of England. “This step seems to me to be the sec- ond necessary stage in the work cf the rational government, the first being the balancing of the budget,” Mr. Morgan sald. Restoration of Trade Seen. “The completicn of the government's work will be the restoration cf trade in this country.” “This being the case,” Mr. Mo coptinued, “it seems to me a hopeful and not a discouraging event and one which brings the great work of the Government much nearer to accom- plishment.” In receiving the Associated Press cor- respondent, Mr. Morgan broke an al- most fronclad ru!s never to grant news- ‘His father observed the same rule before him. But once the distinguished banker decided to talk, no one could have been more cordial. He discussed the situa- tion for almost an hour, and while it is not permitted to quote him any fur- ther than above, it may be said that in the entire discussion he did not ex- press any pessimism. And he added a word of fine tribute for the character and stability of the English people. Other Financiers Hopeful. Several other financiers expressed similar opinions. Without exception, they- held the view that the govefn- ment's latest step is in the right di- rection and that Britain will weather her_crisis. There wzs no disposition to to evade the fact that the slhu[z{\ is very serious. Indeed, one of the most hopeful signs these financial experts find is -that England does recognize the situation is serious and is attacking her problem from that standpoint. John Bull this morning climbed beck ! into the trenches snd there was a @e- termined grin on his face. Everywhere one encountered a spirit of optimism. Held Logical Conclusio: Other, financial commeéntators re- quested’that their names be withheld, but here are some of the points made by several American bankers, all of whom are widely known: Suspension of the golp standard by Great Britain not only was not unex- pected, but was a logical and foregone conclusion. From the standpoint of the financial expert, it was the correct move. The only criticism offered is that it thou!d have been done before. Far from being disconcerting, this move has cleared the atmosphere. As_one sanker put it: “We had on our hands a patient who had to un- Gergo an operation to save his life. We were anxious, but now the operation is over and we are feeling relieved.” What has happenell is that England, as A banker, has stopped a run on her institution. People all over the world were cashing their British securities here in London. Individuals did not realize ths magnitude of the operations and did not recognize that they really were participating in the run, financial commentators say. Will Act as Tariff Wall. But it was apparent to London and the government stepped in and stopped c2shing securities in gold while there still were gold reserves enough to meet the government’s needs. Britain was not going to let herself get caught as Germany did just after the war, when the mark crumbled to practically nothing because Germany's reserves had been wiped out, financial experts declzre, They see no chance of anything of this gprt happening in England. The fall the dollar value of the pound has been anticipated and discounted by bankers, it is said. One effect of the suspension of the gold standard will be to cut down im. ports. In other words, it will act as A tariff wall. This also has been dis- counted, since it has been assumed England must impose tariffs anyway. P Titled Woman in the Stocks. Who is the woman of title who re- cently was imprisoned in the ancient | stocks in a London street and was re- leased ypon payment of a “ransom” t charity? is asking, and various names are men- tloned, but the owners of the stocks are silent. The old means of punishment are outside a picturesque tea shop. Her ladyship “iried them.” but found she could not release her feet, as a self- locking device had been attached. When it was explained to her that a donation to charity would gain her re- lease, she smilingly ‘contributed. SANTA MONICA, Calif—Japan has been trying to match & war with China for years, Looks like they finally made it. Russia is re- hearsing to got in. This Man- churia must be A pretty val- uable country. Now we will see how strong the League of Na- tions is. Did you read what that Argentine polo team did to America? An- drada, & real cowpuncher, was the whofé show. It was s great thing for polo. The social register has had its last hold on the game. The next American team will know no more about pouring tea than a Marine. “A Fitting Frame For Any Bride” Have Blackistone plan the Floral Decorations We Invite Consultations We Furnish Estimates 1407 H St. N.W, Netl 4908 Action on Gold| ol That is what English society | / Former United States Senator and Governor of Kansas of a series of articles. base intimate _study _o! conditions 1n_every section of Brit- ish Isies. describing the history. the current situation ~and the ! and economic effsct of The Dole upon every class of population. S —————————— 1y By HENRY J. ALLEN, Twenty-five per cent—one in every four!—of England's employable popu- First upon ~ first-hand, ment upén distribution of public funds that must inevitably lead to national bankruptey unless modified. The country’s leadership—the gov- erning classes—almost surgically divid- =d and bitterly; the Conservative half damning the policy | as penalizing the industrious and de- liberately gating a plete generation of drones; the Social- Liberal section lauding it either promoting eve! tual * equitable di | tribution of proj | erty, or as serving {to maintain n pional health and morale, pending restoration of nor- mal ¢onditions. Weiits” 7. AW Retail trade booming as result of cometant supply of pocket money in the hands of the mass, but basic industry stified under present taxation and with apprehension of the towering and constantly mounting defi- cit. | Story Obtained First Hand, That in silhouette, is the picture of England under her “Unemoolyment In- urence System.” or The Dole, as I {mve seen it during an intimate tour of the Tight Little Isle. Let it be emphasized that this story of The Dole has been obtained from first-hand sources and is as compietely | non-partisan as an open mind and de- | liberate intent can make it. It will be a day-by-day account gath- ered by personal visits and interview: | with individuals whose lives have been i touched 1n any way by the system. The dole takers, their dependents, their “fel low Jaborers who contribute to th fund, the employer who contributes, {and ‘the taxpaver who must take care of the laiger financial result that is the rapidly mounting deficit, all enter into the telling of this story. During several weeks I have visited the leading industrial sections of Eng- land, stopping likewis¢ in many typical agricultural and even educational | neighborhcods to dscover how thor- oughly the system has penetrated to every nook and corner of the kingdom. Must Register To Get Dole. I have walted in long queues of un- employed at Labor Exchanges where they come to enroll upon the “live reg- | ister” of unemployment. In order to | be eligible for the weekly payment they | must register twice each week. I have | stood at the pay windows of these ex- changes on Fridays when they come to collect their weekly benefits and have gone with them into the moving pictur houses, which make a special afternoos | S. money) and which are crewded | every afiernoon all over England by | those who have nothing else to do. | I have visited with labor union lead- ers of both the Right and Left Wing and | with Liberals and Conservatives. I have | | system with high excitements as ruin- ing England and have listened to low ‘\'ched and senemic Socialists tell me | without emotion or excitement that the plan is working out the ideal of Social- ism, first to redistribute the incomes | and then the properties of Great Brit- | | ain, Between the extremes I have met a brave but troubled people who are not screaming or tearing their hair, but who | | are wondering where it will all lead to in_the end. I have come to admire the fortitude | | with which they contemplate the un-| expected and startling growth of a| system which they started good | faith. out of a constructive regard for | the rights of the unemployed, and the | ! frankness with which they now admit | that they had to choose between en- | larging the system and revolution, Challenge To Solvency., | Underriding it all, moreover, I have { had to contemplate the undoubted fact | that it had produced upon the surface the appearance of meeting the situa- tion, A great idle population is living in what appears dangerously like con. tentment, upon & distribution of gov- ernment funds that must eventually lead to natio insolvency unless 1t is modified. I have been given a sort of high confidence at times by the calm- ness of leaders who assure that there is nothing to worry about; that it will | all come out right. I have caught some faith from their bellef in their tradi- | tional ability to “muddle through.” but outside the Socialists who knows exactly ‘what he is up to, I have not met philos- opher or statesman who has a Tremedy for the permanent tendencies which have made The Dole a challenge to the of the nm‘gn 917 G St. N.W. Fod el Lazy? Billousness or sick headache bother you? Flush poisons from t intestinal tract -with H HEXASOL Before Breakfast for Health “See Etz and See Better” If your child has never reached the point of efficiency in school that YOU feel that a child of YOURS should reach, the trou- ble may be due to eye- strain. Better have his eyes examined Now., ETZ Optometrists 1217 G Bt. N.W. lation living in what appears content- | heard violent Conservatives damn the = D. C, MONDAY, SEPTEMBER 21, 1931 IBRITISH, PAYING DEARLY FOR DOLE, FIGHT BITTERLY 25 Per Cent of Employables on List, Living in Contentment, Hold Threat ‘ of National Bankruptey. | | { | or make prophecies; T will tell you the | | story as it has been told to me by | many lips. English Fastidious Over Words. I am going to call it The Dole be- cause that designation s simple and understandable at home. although ovcri here they are often fastidious about the words you use concerning it. In fact. the terminology which has blossomed in the pathway of the English Dole has enriched the language. Delicacies of expression - have come into official | phraseology a) tly to save the | feelings of those who have to be cared | for. . A recipient of The Dole is an “in- sured worker” collecting “unemploy- ment insurance.” | "'What he gets is “covenanted bene- fits.” ‘When the enlargement passed The | Dole on to those who h;d l:wt kept, u\x their insurance payments. Was cal “uncovenanted nu:s"m‘ll"he :srm wl;},c': gave the unemploy entrance the system in spite of his technical in. eligibility is “transitional laborer, though he does not labor and it is Searsd that Ne is not too transitory. ‘The case of a man who by clever and unforeseen uses of the various prov. | sions of the law has got his weekly pay | for idleness up to where it exceeds toj | wages for work is called “an anomal | 1 shall not use all thess terms, through no disrespect to them, but for better clarity. "TWO GUNMEN SOUGHT IN HOLD-UP OF STORE ! :Alui)nntl Beat Owner Into Un- i consciousness, Then Fire at Him, | | Two gunmen who held up Elias M. | David and fled with $120 after a strug- gle last night in the latter's delicates- |sen, at 1442 Pennsylvania avenue | southeast, were sought by police today | cn charges of robbery and assault with | intent to kill. | David narrowly escaped death when one of his assallants fired point-blank t him after they had clubbed him into nconsciousness with their revolvers and left him lying on the floor. The | bullet narrowly missed its mark and | crashed into ths wall. David was treated at Casualty Hoepital, but was not_injured seriously. The bandits appeared as David was about to lock up his store at midnight. ‘When he resisted after the men com- manded him to turn over his money, both beat him over the head after a struggle in which one of the robbers’ fingers was bitten. ‘The automobile in which the two made their getaway was found aban- | doned by police a short time later at | SBixteenth street and Massachusetts | avenue southeast. The car bore dead | licenses. e L. R Dogs Die of Poison. | | LYNCHBURG, Va., September 21| (Special) -—Three dogs were killed and nother - made seriously ill by poison Priday night along Somerset drive, rate of a sixpence (twelve cente in U.|Peakland. THere is much uneasiness ' | |among dog owners. It is thought the | poison was strychnine. Earlier during the week a larger number of dogs were killed in the same manner in Fairview Heights, a section “of the city remote from Somerset drive. LOCALLY OWNED AND OPERATED Washingfonians who sincerely prefer to deal with. a distinctively local dairy may now be served with the highest. quality products by Wakefield Dairy, owned and oper- ated by Native Wash- ington citizens. Philip A. Simpson James C. Simpson Wilfred A. Simpson John A. Simpson Wakefield Dairy is an enterprise that meets the highest ideal of home industry. MEXICO NOW TRADES ENTIRELY WITH SILVER Interest Keen in Great Britain's Abandonment of Gold Standard. - | By the Assoelated Pren | MEXICO @ITY, September 21.— | News of abandonment of the gold | standard by Great Britain was received | with t interest in official circles to- | day, uch as the new lish pol- icy is similar in many res to the | monetary reform adopted last July by exico. ! Mexico ruled gold entirely from cir- - Burea culation, and while a. theoretical gold standard still prevails, all business is done in silver Prediotions that the change would send the silver peso to its Intrinsic value of more than efim, to the dollar have not been borne out. | Before the peso was quoted dollar, and its at A. KAHN INC. ¢ « « « 39 Years at Same Address reform was enacted the | bout 2.50 to the home manufacturies. Palm Prints Trap Thief. Palmprints instead of fingerprints accused of robbing houses in Wimble- Detective rprint u at New Scotland Yard stated &t the preliminary hearing that palm late-glass top of a dress- enden and the impres- sion of Egan's palm taken in jail were so similar that he had no doubt that Cherrill believes that be as effective in criminals as the fingerprint were used in identifying John town, England, and vicinity. Inspector Cherrill of the marks on the ing table in both were Egan’s. palmprints will identifying ter Baltimors Rose ‘earpoons dox. | the lowest prices in years for STERLING SILVER Flatware Coming October Weddings and Anniversary Ceremonies of years past can best be honored by & gift of Sterling. The new low prices offer a double in- \ een!l‘v. to purchase here. Stationers Platinumsmithe .Kahn Jne. Arthur J. Sundlun, President 39 Years at 935 F Street This winter, decide to have ing COMPLETE heat- satisfaction—the steady, EVEN, econom- ical comfort that King coal and King service have | 4 givento Washington homes for neatly a cen- tury. Call NOW for our clean, carefully prepared anthracite. William King & Son COAL MERCHANTS ESTABLISHED 1835 Main Office - 1151 16th Street Georgetown 2901 K Street Phone Decatur 0273 What isn’t on the air isn’t worth hearing these days. Get it with a Bailey GLORITONE Table Model | R A DI O $39-95 Helght 17% inches; inches, Fron{ width 16 Easy | $ TERMS DOWN NO RED TAPE Ask for a Demonstration