Evening Star Newspaper, October 12, 1931, Page 5

HOOVER AID PLAN WAS TREDIN WEST Expedient Employed in 1924 Stringency. BY ROGER BATCHELDER. Speoial Dispatch to The S NEW YORK, O r 12.—The Hoo- ver plan for thawing credits and estab-| lishing sceurities with the aim of pre-! venting senscless runs on soivent banks | is not entircly_new in the M In that section of the countr back as 1924 the plan on a sn still censiderable scale after a three- | year fight was tried with eminent suc- cess. i The man who helped put the plan| over, F. L. Murphy cf Minncapolis, now in this city, outlined the form the plan | assumed in thr. section at the time,| adding, “If we ~ould do it then, why can't the rest ¢ the count u:\d‘l'; the leadership of the PresiZent do it now? All we need is the confidence of the people in themselve: Origin of Plan. When asked how he had come to es-| tablish the plan, Mr. Murphy sa‘d | “The trouble with the banks 21l over the country today is simply magnified version of the trouble we were experi- encing in our section 10 years ago. Ag- riculture had flopped completely. The farmers ha been rais only grain for Europe during the hostilities and the great demand for it naturally had fallen off Consequeitly there was no of wheat 1 prices nd ers had practically forgotten aise hogs and other crops. Even if they had remembered, there wasn't enough liquid money in the banks to permit loans for a change te hogs. Land valucs had fallen, far | | were mortgaged to the limit and things, There’s the | were becoming desperate. background.” One day a group of young men who had just been graduated from agricultural colleges called on Mr. Murphy and said they thought they could solve the prob- lem if they could get a little money to solidify the banking situation. They belleved that if Congress would grant Joans of $50,000, the small banking in- stitutions might be able to hold their depositors and that loans might then | be_made as in normsl times. Mr. Murphy studied the plan care- | fully ‘and decided that it was a feas- ible one, despite the fact that North- Weatern bank failures had been so con- stant since the collapse of the grain | market that the entire ecenomic sys- tem of the farm States was threat-, ened. i Mr. Murphy went to Washin companied by a delegation of 25, and | they battled for six weeks before the | House of Representatives voted the| Hostages of War Returned THE EVENING STAR WA | | HE bronze doors of the Palais de after resting for the last 16 y authoritie: GERMANS SEND BACK BRONZE DOORS TO BRUSSELS. Justice, carried off by the Germans dur- | ears in the possession of the German —Wide World Photo. NEW CREDIT GROUP 0 RELEASE CASH Bankers in Outlying Regions Will Be Readier to Aid Ap- plicants for Loans. BY MARK SULLIVAN. As the past week has scen the ps chological effect of President Hoover’ step about the banking situation, so the coming week may see_the effect of the ew National Credit Corporation’s con- crete actions in the form of relief ac- tually extended or loans actually made. The place where the ultimate effect will appear, and for which the step is mainly intendcd, is at the outer periph- ery of the credit structure, namely, upon depositors in banks and business borrowers from banks all over the country, especlally in smaller com- money, but the Senate turned the re- | TR, WIEE | Already, without doubt, the begin- Eastern Bankers Help. ining has taken place m]lhe !m:: of t cantime. cash was being greater readiness of a small-town bank- o avings banks and put {ats er in Oklahoma or Idaho to make a boxes in the grain areas. |loan to a farmer on his wheat of th: ¢, one bank a day was | sort which in normal times is extended failing | by the local bank as a matter of course. “It iooked to me like a prairie fire,” | The concrete transactions of the new said Mr. Murphy. | credit corporation at the point where But he was undismayed. He found |its functions come in direct contact Fastern bankers were ready to help | with the public can be illustrated by a the Northwest, but when he reported |suppositious example. A bank in Iowa back home the local bankers laughed at | or Illinois or any other State has two ‘he idea. No one thought that the |varieties of assets, both sound. One va- sum of $10,000,000, thought to be nec- | riety consists of promissory notes “grow- essary, could be raised. ing out of business, industrial or agri- But the work of Mr. Murphy and | cultural operations” and maturing in his essociates was not in vain. Power- “not over 90 days” (agriculture, 9 ful friends came to their aid—Presi- | months). These notes the local bank | dent Coolidge, the then Secretary of | can take to the Federal Reserve system Commerce Hoover and others. . |and get for them the currncy familiar | The Agricultural Credit Corporation |in every pocketbook as “Federal Re- of Minneapolis came into being, and it | serve notes.” This part of the bank's was announced that $10,000,000 had | assets is, in short, absolutely liquid. It been subscribed by private sources, |is “self-liquidating.” It is “quick as- which would be backed by $100.000.000 | sets” instantly convertible into cur- additional credit. assured by the War |rency. Finance Corporation. o "We financed (ne purchase of live| Will Liquidate “Slow” Notes, The bank, however, has anether stock, and put_one man after another | | variety of assets, equally sound. It may on his feet. The whole tone of the section_was’improved, and there came | (00 S O Do S fes Secured, for | example, by a mortgage on a farm, or a complete change. with only a small by a gilt-edge bond, or by an equally n drawn from socks ond t At the clim part of the $10.000,000 necessary to bring that about.” FRANCO-AMERICAN PLAN MAY RESTORE {1n the country. These latter promissory notes the Federal Reserve System will not handle. The not:s may be signed by the very same man as the first | y. They may be actually counder. | Nevertheless, the bank holding them | cannot, get currency for them from the Federa Reserve System. The Federal Resarve Syst>m, under the law, discriminate: against this latter kind of security solely (Continued From First Page.) gilt-edge stock of thz strongest railroad | under the statutes and 1ules, | bution of goid. France is represented as desirous of not increasing her gold supply at the ecxpense of the United States, and both Countries last wee advanced their rediscount rates as a | for the rcason that it is less “liquid,’ | which means, for example, it may take more than 9) days to foreclose a mort- gage and turn it into cash. It is this latter kind of “slow” notes means of cutting down speculation in gold exchanges The possibility of a permanent finan- cial or economic mission from France | Temaining in the United States as a|under recent conditions, anywhere clse. liaison between French fiscal interests It is this clacs of notes and s-curities and this country is being discussed | which, speaking broadly, the new credit again and may be one of the results|corporation will take care of. As soon of this week’s conferences. as the new corporation is functioning, (Copyright, 1931.) every bank in the country will know ECONOMIC PARLEY CALLED. | DAt for every sound sccurity it has it and securities which is now causing dif- | ficulty to banks ail over, th= country, because the bank cannot discount them with the Federal Reserve System, or, | can obtain cash eithor through the - - Federal Reserve System o through the Ve nk ctors Invite Central new cradit corporation. Every borrower ettt | from such a bank will benefit by the =5 | bank’s greater readiness to make new BASEL, Switzerland, October 12 (P).— loans to business men or extend old Directors of the Bank for International | ones. Every d:positor in a bank will Settlements today invited the central | be assured by the fact that every sound banks of countries which liave found it | security in the bank is convertible into necessary to restrict trade in foreign exchanges—notably Great Britain and Germany—to meet for a conference in | Basel for the purpose of co-ordinating their restrictive measures. This co-ordination was considered de- sirable by the directors “to avoid grave inconveniences” which the restrictions produce in other countries. The World Bank renewed its quarter share in the $1,000.000.000 credit to the German Reichsbank, which ner- mally would expire on November 4. It was expected that the Federal Reserve Bank of New York and the Banks of England and France would renew their quarter shares also. The bank, in association with the Bank of England, also renewed the 119,000.000-shilling credit to the Na- tional Bank of Austria, which would have expired on October 16. It was understood that Montagu Nor- man, governor of the Eank of England, told the World Bank directors that there was no chance of stabilizing the pound sterling in the next few weeks. The assumption was that he referred to the period of the general election in England. | ‘The view is held in some informed banking quarters that Great Britain probably will return to the gold stand ard within a_year. pressed idea that most of the world is on the verge of quitting the gold stand- ard, leaving France and America hold- ing'a demonetized metal, has been con- sidered in World Bank circles, but ap- parently is regarded as improbable. Observers have been unable to de- tect any real anxiety on this subject in American and French sources. considered that there is scarccly any tlikelihood that Germany or Italy will suspend the gold standard, and these The widely ex-| Tt is | cash, Banks May Repay Losses. Thousands of banks, of course, will have no need of recourse to the new credit corporation. Possibly 99 banks out of 100 may not make use of it. The banks that will mainly make use of the corporation’s facilities are of two types. A Dank threatened by a run, or which has lost much currency through the scepage of quiet hoarding by depositors, will now know it has the new corporation back of it and, there- fore, substantially the entire banking community of the United States. | Another class of banks, those that actually have been forced to close their doors, will now be able to get cash all their sound securities and will, therefore, be able to give depositors a portion, at least, of their money much earlier than otherwise. It has been suggested that the new credit corpora- tion should make loans on depositors’ bank Etooks on failed banks up to a certain percentage and under sound conditions. Has Psychological Effect. The psychological effect alone, the widespread knowledge that the new | institution is in existence and will soon | be functioning, will of itself make uch of its functioning unnecessary. To a very large extent, mere knowledge by a local bank that the new institu- ,tion will soon be available makes the {use of the institution’s facilities un- | necessary. However, soon the new credit cor- poration may begin to pass cash across s counters, the spead with which it | has advanced so far is probably un- paralleled in American business his- Hoboes Will Have Their Own College In New York Hall Well Known Educators to Be Sought as Guest Lecturers By the Assoclated Press. NEW YORK, October 12.—The hoboes are plapinng a university of their own. | They talked it over vesterday at a convention in Astoria Hall, and decided the school would begin functioning as soon_as the third floor of the building can be repaired. IUs to be a regular college, where the hoboes can study philosophy, sociology. | history and similar subjects. The school will be known as th James Eads Howe Memorial University, in_memory of the late “millionaire hobo.” The university will not haye the ex- tensive plant of some institutions of | higher learning—the rent will be only | $35 a month—but it hopes to have good | teachers. Dan O'Brien, chairman of the mecting, said well known educators | would be sought as guest lecturers. The university also will have a room | for a hoboes' welfare bureau. e i MAN HAS TWO WIVES Plaintiff for 14 Years in Decree Remarries Before Reversal. CHICAGO (N.A.N.A.).—Fourteen years ago Leroy N. Boylan ot Chicago | sued hiz wife for divorce. A year ago a final decrce was granted on the grounds of desertion. Boylan immediately remarried. Wife No. 1 ap- pealed and a higher court reversed the decree. Now Boylan finds himself with two wives and no end of trouble; as both have indicated they will not give him up. CANDIDATES INVITED Special Dispatch to The Star. BARCROFT, Va., October 12.—Can- didates for the House of Delegates and 15 candidates for the county board have | been invited to address the voters at | the third of a series of political mass meetings under auspices of the Barcroft | | School and Civic League, at Community | House here tomorrow night. All other candidates will be given op- portunity of being heard before election day. CITY NEWS IN iRIEF, ‘TODAY. Meecting, Washington 8 p Board, Willard Hotel Meeting. Ladies’ Post, Legion, Willard Hotel, 8 p.m. Meeting, Jeff: U. D. C., Willard Hotel, Meeting, Brookland Citizens' Associa- tion, Masonic Temple, Twelfth and Monroe streets northeast, 8 p.m. Real Estate m. American rson Davis Chapter, 0 p.m. Meeting, Pin=y Branch Citizens’ As<o- ciation, Hamline M. E. Church, Six- ! teenth 'and Allison streets, 8 p.m. Meeting, Northeast Washington Citi- zens' Association, Ludlow School, Sixth and G strests northeast, 8 p.m. Meeting, Kalorama Citizens' Associa- tion, John Quincy Adams School, Nine- teenth and California strects, 8 p.m. Dance, Knights of Columbus, May- flower _Hotel, 10 p.m. Meeting, Stanton Park Citizens’ Asso- | clation, Peabody School, Fifth and C streets’ northeast, 8 p.m. Card party, benefit of Spiritual Sciencz Church of Christ, 16 Fourth strcet northeast, 8:15 p.m. Meeting, Burroughs Citizens’ Associa- tion, John Burroughs School, Eighteenth and Menroe streets northeast, 8 p.m. _Meeting, Hillerest Citizens’ Assocla- tion, East' Washington Helghts Baptist | Church, 8 p.m. | Meeting, Connecticut Avenue Citizens’ Association, All Souls’ Church, 8 p.m. | Meeting, Takoma Park Citizens® Asso- ciation, Takoma Park Public Library, pm. Mceting, East Washington Heights Citlz"ns’ Association, Bradbury Heights | M. E. Church, 8 p.m. Meeting, Progressive Citizens’ Associa- tion of Georgetown, 8 p.m. FUTURE. Buffet luncheon, Women's National Fress Club, Willard Hotel, tomorrow, 1 pm. Lunchecn. Buy-in-Washington Com- mittee, Willard Hotel, tomorrow, 12:30 p.m. Current events lecture, Douglas War- cenfe’s, Women's City Club, 736 Jack- son place, tomorrow, 4:45 p.m. | _Luncheon, Advertising Club, National Press Club Auditorium, tomorrow, 12:30 pm. Luncheon, Washington Association of premiere RUSSIA HAS LAUGH ONU.S, SAYS SHAW Soviets Have “All but Knock- ed Us Out,” Playwright Tells Radio Listeners. By the Assoclated Press. NEW YORK, October 12.—George | Bernard Shaw in a transatlantic | broadcast to the United States yester- | day maintained that “Russia has the laugh on us.” | The bearded Irish philosopher and playwright, speaking from London, defended Communism and the Soviet government in Russia, which he re- cently visited. The program, rebroad- | cast over a Nation-wide hook-up, was' his first radio spcech exclusively for Americans. “Russia has us fooled, beaten, shamed, shown up, outpointed and all but| knocked us out,” Shaw asserted. | parts of the house. JAY, PEAGE PLEA FINDS WOMEN DIFFERING; Miss Jane Addams’ Appeal for Disarmament Is Opposed Here. Divided opinfon from her feminine audience greeted the proposal of Miss Jane Addams, international president of the Women's International League for Peace and Freedom, for a resolution in- | structing United States degelates to the disarmament conference in Geneva next February to lead the way in the achievement of complete world dis. armament, at a mass meeting held yes- terday at the Belasco Theater under the auspices of the league. Miss Addams' qudstion to her audi- ence asking whether her resoluticn was supported was met by a chorus of “ayes,” quickly followed by several hearty “noes” echoed from different “We have lectured her from the heights of our modern superiority and | now we are calling on the mountains | to hide our blushes in her presence. | Flaunts Roaring Furnaces. | “Russia flaunts her budget surplus, her people employed to the last man | and woman, her scientific agriculture | doubling and trebling her harvests, hcr“ roaring and multiplying factories, her efficient rulers, her atmosphere of ‘such, ing the occupation of Brussels, are here shown being returned to place | hope and security for the poorest as has never before been seen in a civilized | country on earth.” ! Shaw compared the overthrow of | the Czarist regime in 1917 to the| American Revolution. | “Lenin and his friends took command of the Soviets and established the | Union of Socialist Soviet Republican he sald, “exactly as Washington and | Jefferson and Hamilton and Franklin and Tom Payne had established the United States of America 141 years be- fore.” In his characteristic deep voice he added “a word or two of consolation” to those “who have been telling one another for a month that I have gone dotty about Russia.” Suggested by Americans. “After all” he remarked, “some of the most wonderful things the Russians are doing were suggested 50 years ago by Americans, many of whom have been sent to jail for their pains.” At another point, ‘describing what travelers to Russia would see, he said: “You must not expect a paradise Russia 1s too big a place for any gov- ernment to get rid n 14 years of the frightful mass of poverty, ignorance and dirt left by the czardom. “I am afraid there is still a good deal of the poverty, ignorance and dirt we know so well at home, but there is hope everywhere in Russia, because these evils are retreating.” PRE-WAR PRICES RULE IN GOTHAM THEATERS Top Charge for Evening Shows Falls From $5 and 87 to $3 to | Meet Changed Conditions. | By the Assoclated Press. NEW YORK, October 12.—Theater prices of 1915 returned to Broadway yesterda$. | Lee Shubert announced a top price of $3 for evening performances will be | snaugurated for musical shows with the of “Everybody's Welcome,” | tonight. Earl Carroll's Vanities have had a top price of $3 since their opening. | ‘The Ziegfeld Follies advertise a top price of $4 to $5 but in large type| feature a $1 to $3 price for the “en-| tire balcony.” ! “During the past 15 years box office | scales rose constantly until musical | comedy prices from $5 to $7 were not | uncommon.” said a statement by Mr. | Shubert, “but now we must face the revolutionary change in economic con- ditions.” REDS LAUGH AT HOOVER Paper Ridicules Economic Plan as Due to Moratorium “Failure.” MOSCOW, October 12 (#).—The newspaper Izvestia pokes ridicule in a long editorial today at President Hoover's new proposal to cope with the economic_dislocation. { “The redeemer is irying to save him- self.” the article asserts. adding that “failure” of the debt moratorium his Mrs. Nobel Newport Potts, president of the National Patriotic Councll, led in tke negative responses, heartily sup- ported by Mrs. Lowell Fletcher Hobart, president_general of the Daughters of the American Revolution, who sat among a group of national defense supporters in the gallery. Admits Division. % After the passing of the resolution, Mrs. Potts arose and called the atten- tion of Miss Addams to the fact that it had not been passed unanimously. “I did not pronounce it unanimous,” | replied Miss Addams. “I said only that th> resolution had passed.” Although the four months’ transcon- | unental ‘crusade of the peace cara- van, which passed through 22 States, only obtained the signatures of 150,000 persons, Miss Addams declared that the amount of signatures which were obtained “gives us the authority to assure our Government that pubiic opinion in this country supports its every effort to speed world disarma- ment.” | Pointing out that the present cconomic condition of the world has shaken the faith and security of men in the possibility of world peace. James | Grafton Rogers, Assistant Secretary of State, principal speaker for the occa- slon, said: “In the erd, the problem of inter- national order is a question of security and confidence. One cf the great| necessities for peace is international | understanding. ‘The nations of today | are trying to fathom one another as they have never tried before.” Sounds Hopeful Note, | An_optimistic note was sounded by | M. Rogers when he declared: “There are visible at last the traces of an inter- national public opinion which will some | remold the world. The United can contribute to this end its coursel, its measured co- operation and the great weight of its example and opinoin. The tendency to | rescrt to violence is lesser in strength | then the longing for security, which is the great note of life. This note grows louder as we listen, and it will prevail.” Miss Mabel Vernon of Wilmington, Del, nationally known feminist and leader of the peace caravan, called at- tention to the President’s assurance | Saturday that no statesman can go be- vyond the support he can gain from public_opinion. “Going on this basis,” declared Miss Vernon, “the statesmen of our country can go far on their way to disarma- ment, for beyond a doubt the people of this country demand peacs, and since | the statesmen arc assured of that, they can demand disarmament.” Other speakers included Huston Thompson, former Federal Trade Com- miscsion chairman; Miss Katherine Devereux Blake and Miss Dorothy | Cook. The mass meeting signalized the dis- banding of the peace caravan, which started from Hollywood last June, ar- riving in Washington Saturday. ENGINEER FRATERNITY WILL MEET HERE IN 1932 Tau Beta Pi to Hold Its Convention ‘When Association Gathers for Capital Sessions. The Tau Beta Pi Fraternity, natfonal engineering order, will hold its 1932 convention in Washington, it was an- nounced today by the Greater National Capital Committce of the Washington Board of Trade. The decision of the group to hold its conclave here next year jointly with the OCTOBER 12 1931, From the Front Row Reviews and News of Washington's Theaters. Earl Carroll's “Vanities” Are Not What They Should Be. VEN Earl Carroll, America's most promiscuous promoter of feminine deshabille, must have winced last night at what was being revealed in the dispensation of his latest road- show “Vanities.” (He was to be ob- ‘served “in person” during the un- furling of his revue at the Nation- al.) Before his very eyes one of his largest, come- liest and clumsiest choruses missed step after step, the music sound- ed frayed and worn, the cur- tain once caught three unsuspecting stage hands in the act of mending the scenery, and the hu- mor was 50 ancient and so consistently below the belt that laughter, except in Herb Williams’ plano scenes, somewhere toward the end, was considerably less than a possibility. Mr. Carroll, who customarily decks his offerings with abundantly handsome frills and furbelows, has this time devised something which is neither particularly satisfying to the eye nor soothing to the ear. His funsters are surrounded by a series of lamentable “skits,” and his la- dies, while some of them near to “the most besutiful girls in the world,” seem on the whole & wan and hun- gry lot who would do well to eat themselves into shape. They, too, have the air of never having done their steps before—and as though music and rhythm and the graceful abandon of the conventional “line” lady means nothing to them. ‘Those who expect Mr. Carroll to MISSOURI BOY WINS D. A. R. ESSAY PRIZE Mrs. Alice M. Walker of Washing. ton Also Given Award in York- town Writing Competition. Willlams, By the Associated Press. YORKTOWN, Va. October 12— Calhoun Barkley, high school student of Mexico. Mo., yesterday was avarded the first prize in the national essay contest sponsored by the Yorktown Sesquicentennial Association and the National Society, Daughters of the American Revolution, in connection with the sesquicentennial celebration her2, October 16-19. Barkley was awarded $200 for his essay on_“The Yorktown Campay and Its Effect on American History. More than 50,000 essays were Te- ceived at the offices of Dr. Flora Myers Gillentine, historian general of D. A. R. in Washington, from every State in the Union. The prize winners were announced tefay. rhe second prize of $100, went to s Virginia Hale, Front Royal, Va. Ovaer cash prizes were awarded to Miss Floris Prierbaugh, Point Pleasant, W. Va.; John Ansel Thompson, Pasa- dena, Calif.; Elaine Burdette, Point Pleasant, W. Va.: Louis Miller, Seneca N. Dak.; Barbara Joyce Hauenstein, Bluffton, Ohio, and for an essay written by a Daughter of the American Revolution, A $50 prize was awarded to Mrs. Alice M. Walker, a past regent of Washington, D. C. Card Party to Be Held. UPPER MARLBORO, Md., October 12 (Special).—A card party will be held by the local Knights of Columbus council Saturday night in Gibbons Hall There will be prizes and refreshments. 5 the | lend his talents to the sumptuous parlors of the theater with glimmer- ing results must have been disap- pointed last nicht. While some of the scenic effects were bold (wit- ness the green bottles and glasses episode) and some of the costumes daring—they vere neither as breath- taking nor as ‘“elegant” as had been supposed, and the producer himself must admit that he has done bigger and better and brighter things before, Most astonishing, though, was thst the comedy struck such a posi- tive zero. While present were such familiar laugh kings as Herb Wil- liams, Jack Benny and Chaz Chase, their powers of exhilaration were confined to the most ancient of their quips or to :icenes in which their quips were so -'s.asteful that a certain Ninth street humor might have been set up before them as a glowing and ennobling example. You may, of course, thik that Mr, Benny (a grand clown usu.ily) and the jokes he dispersed at the Palace a few months ago are still hilarious, or that Mr. Chise’s ability to eat himself out of hearth and home is a wonderfully amusing stunt (if you haven't seen it a dozen times before), but as far as this cbserver could de- tect, the only high spots in the whole show were "provided by Mr. Wil- liams—and these spots weren't by any means out of sight. It was, in fact, the lesser “lights” who deserved the palm last might. Prominent among these were Vivian Faye, a dancer of grace and charm; the Stroud brothers, who have per- sonality as well as agile feet; the young lady who assisted Mr. Benny, end Harry Stockwell and Curtis Coley. The others did what they were told to do, sometimes more and sometimes less capably. But all of them scmebow got snarled up in a brightly costumed scene at the end of the first act, which was meant to be a grand boost for Old Lady Anti- prohibition, and which was actuaily 80 weak it pesitively hurt. E. DE S. MELCHER. HOOVER SETS RECORD IN RETURN TO CAPITAL Comes From Camp, Making Trip of 103 Miles in Two Hours and 45 Minutes. By the Associa‘ed Press. President Hoover returned to the White House early today after a speedy trip from Rapidan Camp. which cut 15 mirutes from his usual running time between the mountains and the Capital. The President and most of his 12 guests arose before daylight for the return trip. Leaving the camp at 6:30 o'clock, they traveled the 103 miles be- tween his camp and Washington in 2 hours and 45 minutes. A flock of sheep which strayed slowly across the Lee Highway provided al- most _the only interruption on the trip to_the Capital. The presidential car was stopped while the closely packed sheep ambled with unhurried gait across the high- way, despite the tooting of the presi- dential horn. CHURCH HAS WOODPILE Rector Asks Applicants for Relief to Saw Lengths for Sale. NEW YORK, (N.AN.A).—Dr. Jossph R. Atkinson, rector of Christ Church in Now York City, has decided to test all pplicants for relief by askmg them to saw wood in the church yard. The wood, cut into fireblace lengths, will be sold to parishioners and their | friends. Fire Dance Planned. UPPER MARLBORO, Md.. October | 12 (Special) —For the benefit of the Upper Marlboro Volunteer Fire Depart- ment, a dance will be held in Trinity Hall here Friday evening. made it necessary for the President to put forward a ‘new plan to “save” | American capital. | American Association of Engineers, whose convention also was brought here by the Board of Trade committee, was reached at the 1931 meeting of the fra- ternity in Cleveland last week. ‘One Overhead tery. It was on Sunday, October 4, at ' Credit Men, Ralcigh Hotel, tomorrow, D. A. R. Chapter to Meet. CLARENDON, Va., October 12 (Spe- cial).—The October meeting of Thomas Nelson Chapter, Daughter of the Amer- ican Revolution, will be held tomorrow night at the home of Mrs. George H. Rector, 241 Strickler avenue this place, instead of at the home of Mrs. Robert- son as previously announced CONNE AVENUE Residential suites rooms, three baths; ‘Theodore Bishoff of the University of Maryland headed the local delegation to the convention. More than 150 bros- pectuses prepared by the Greater Na- tional Capital Committee were distrib- uted at the convention by members of the local chapter of the order. Between 200 and 300 are expected to attend the sessions next year. CTICUT o/ seven and nine three exposures to cach apartment. gencromll/ p[amzco) .- Mcra{ely pn’ce). & Jwo Peaks” -Makes it possible to enjoy the Value, Quality & Service offered today by SMALL’S ENGINEER BLAMES 115, INRAIL GRISIS |W. W. Colpitts Asks Removal of Curbs and Subsidies in Birmingham Talk. By the Azsociated Press. | BIRMINGHAM, Ala, October 12.— William W. Colpitts of New York, & consulting_engineer, told the Birming- ham Traffic and Transportation Club today that governmental restrictions | 722 “subsidies are to blame for prob- lems of the railroads in the United States. He sald removal of some of the re- strictions and withdrawal of the sub- sidies from competition would go a long way toward developing and improving the railways' services. “The functions of the Interstate Commerce Commission have been ex- tended to the point where, with one important exception. that body is all- powerful,” Mr. Colpitts added. “The exception is in the matter of raflroad wages, which are practically in control of the Railroad Labor Board. “Thus is created a situation in which | actions of one body, whom the public | regards as vested with the responsibil- |ity for producing adequate net income | to sustain the railroads, may be nulli- | fied by the actions of another body hav- |ing 1o such responsibility. | “This matter of regulation has reach- | ed the point where the railroads are bound hand and foot. No other busi- | ness is so hampered and restricted. “And what would be your reaction to laws that permitted a new competitor | to enter your field and be given free rein in all those directions and in addi- | tion was aided by a Government sup- sidy, allowed the use, free of cost, of the ' facilities that your money had helped to build. Could you expect to prosper under that state of affairs?” RATE DECISION IS DUE AFTER MARKETS CLOSE C. C. Usually “Breaks” News on Sunday. So Trading Won't Be Affected. By the Associated Press. | Unless the Interstate Commerce Com- mission breaks a precedent. its decision upon the railroads’ petition for a 15 per cent freight rate increase will reach a waiting public some Saturday afternoon. The commission long ago learned to watch the stock market in handing down decisions. This has resulted in opinions that might swing stock values up or down being rendered when théy would have the least effect. Naturally, that is Saturday after the market closes, leaving Sunday for orderly as- similation of the news. Seldom, in recent years, has the com- mission publiched a major opinion on the morning of a week day 1. G. 0. P. Women to Meet. The quarterly meeting of the Mont- gome:y County Federation of Repub- { lican Women will be held at the home of Mrs. George Cha“wick in Washing- ton Grove on Wednesday afternoon at 2 o'clock. evERFRESH CITRATE o MAGNESIA EFFICIENT But NOT HARSH 25¢ [N CLEAN 4 N EW BOTTLES LORISTS e NURSERYMEN ¢ COMPLETE LANDSCAPE SERVICE ERE is a vase that is fascinating in itself . . . Filled with flowers, it This vase may be had at Small’s in peacock blue, lavender or yellow— COMPLETE WITH FLOWERS—for is still more fascinating. $2.75 See this combination at our shop—or telephone your order. Open 8:30 A.M. to 6 P.M. 'MAIN OFFICE £~ SHOP DUPONT CIRCLE countries. "with Ame}rtc!a and France. about a quarter after 9 in the evening, | 12:30 p.m. constitute & strong factor for mainte- that President Hocver laid before ths o i, nance of the gold basis. I New York bankers what he spoke of | | Luncheon, Syracuse University Atumnd, While some observers believe that g5 g “definite program of action,” in | e s i proposals for some kind of an inter- which their part was to initiate the | P — national currency are stll being dis- farmation of “tie billion-dollar+ car- | cussed by international banking lead- piration which today, in less than a | executing it is remarkable. It will be ers, the majority opinion is that such \eek is a reality, | orthy chserving, just 8s 8 sporting 8 proposal cannot at this time attain | “gince that jmecting at the home of | matter of noting & speed record, on practical form. Secretary Mellon in° Washington was | what day and hour the new covporation 5 . the benkers' first acquaintance with | functions in the sense of making a Probably the greatest terror among what necessarily struck them as bcth | Joan to a local bank somewhere in the primitive peoplc is the sheer panic of novel and portentous, (beir speed in ' country, the new and the unfamiliar. firstindorsing the prograpi and thelr 1501 CONNECTICUT AVE, NOr# 7000 H. L. Rust Company 1001 Fifteenth Street National 8100 RENTAL AGENT HOME FLOWER MARKET 1503 CONNECTICUT . AVE. Gesk Flowers at Minimum Prices NO CHARGES -a - ~ NO DEUIVERY (Copwrizht, 19313