Evening Star Newspaper, October 31, 1931, Page 1

WEATHER (U 8 Weather Bureau Porecast ) Closing N.Y. Markets, Pages13,14 & 15 The only evening in Washington wi Associated service. th Press news Yesterday's Circulation, 116,184 e i No. 31,959 post office Entered as second class matter Washin on. D. C. WASHINGTON, D. % SATURDAY, ( )CTOBER ¥ ) Means Associated Press. TWO CENTS. DECENBER PARLEY ON DEBIS QUESTION REPORTED PLANED Activity on European Finances Seen When Laval | Reaches Paris Monday. FRENCH PREMIER TO SEE GERMAN AMBASSADOR Berlin Intimates Action on Credit Must Precede Talk of Young Plan Revision. By the Associated Press. PARIS, October 31.—A prospect of fmmediate activity on the question of European finances, especially debts and | reparations payments, as soon as Premier Plerre Laval arrives Monday was evident today. Petit Parisien printed a dispatch from | the liner Tle De France, on which the Premier is returning, saying that an in- ternational conference on debts and peparations may be held in December. The Premier’s first public appearance after his return from Washington will be at a luncheon at the mm:uwb an in n T, it S, ST on his mission to the United States. Will See German Envoy. The Petit Parisien also sald the| Premier will see the German Ambas-, sador, Dr. Leopold Von Hoesch, as soon as he returns and that he may tele- | phone directly to Chancel lor Bruening | at Berlin. Aml Von Hoesch has gone to Berlin to receive the chancellor's in-| structions for the discussions he is to have with the Premier. The newspaper Excelsior print tch from the Ile De France, say- abroad and until Ger- meet p-y'u‘:enu pand ments| have & it Such initiative, it said, permit | a r:—cex-mlnltlm of all questions con- corning frogen cradits by a conference t> be erranged after conversations be- tv2on Premier Laval and Ambassador | e, will b2 done ebout it H fn "international _conference Has | d Geb's and reparations. ENVOY SCES BRUENING. “I-es From Paris for Instructions On | Talk With Laval, BERLIN, October 31 (#).—Agitation for an international conference, at T e cuah 1 orm. the to participate, s e Chief basis of Germany's foreign policy during the next few '12 ‘while means of dealing with reparations and other financial problems are heing sought. advanced vern= man Aml r- rived today to receive his government’s | instructions _before he ~confers With | Premier Laval next week. | Discussion of what will happen to the more than $2.000,000,000 of short-term credits now extended to Germany must come before any talk of revision of the Young plan, official circles intimated | the Ambassador will tell the premier. The “freezing” agrcement, made by foreign bankers, to maintain _these | " (Continued on Page 2, Column 2) I President Donates $2,500 to District Unemployment Fund A voluntary personal contriba- tion of $2,500 was made io the District Employment Committee teday by President Hoover. E. C Graham, committee chair- man, revealed he rece.ved news of the donation by a telephone call from Lawrence Richey, one of the President’s secretaries. It was sald Mr. Hoover wished to en- coursge the commitiee in its work. He was represented as being perticularly interested in the success of efforts to prevent suffering from unemployment here ihis Winter Mr. Eoover's gift comes as » most pleasant surprise,” Mr Graham said. “I only hope.” he added, “that it will encourage others to make similar contribu- tions, We do not intend to con- duct any drive for funds, as it is not our desire to conflict with the impertant work of the Com- munity Chest, but the funds we expect to obtain from theatrical and sports benefits must be sup- plemented in some manner.” U.5. AGCEPTANCE OF ARMS TRUCE 1S TWELFTH TURNED France and Switzerland Also Agreeable and League Ex- pects Others Today. By the Associated Press. GENEVA, October 31.—Hopes for realization of a armament truce be- ginning November 1 revived today with | receipt of the adherence of the United States, bringing the number of na- tions which have returned afirmative replies to 12. These are the United States, Japan, Russia, Hungary, Holland, Australia, New Zealand, Czechoslovakia, Egypt, Albania, Latvia and Luxembourg. France and Switzerland also are known to hive agreed unofficially to the truce. The replies of Italy and Germany have not yet been received, but it is assumed that they, as initlator and hearty supporters respectively of the holiday, will join. Most of the important powers are thus accounted for. A number have stipulated that their adherence is pro- visiona! on the adherence of other states, but it was hoped that by to- nlnh't thece provisions will have been from _several met. Favorable _res] other gommm!gm‘#n' bly-be re- probz ceived today. There was a dispositicn in Leajue quarters to view the pros- t with optimism and it was be- jeved some sort of truce agreement can be put into effect. FRANCE FAVORS HOLIDAY. League Notified of Acceptance if Neighbors Do Same. PARIS, October 31 (#).—France no- tified the League of Nations tod: that she is willing to accept and pa ticipate in the propbsed one-year arma- ments holiday, providing her neighbor states do the same. A brief note from the foreign office said the French government is willing to adhere to the armaments resolu- tion voted by the League Assembly, but that there must be assurance that countries bordering on France will take similar steps. BUDGET CONFERENCE CALLED BY WALKER BINGHAM WILL SPEAK ey eored by Mayor as el OVER RADIO TONIGHT| ° Se7in¢ $14000.000 sar. ing Was Possible. . Forum Listeners to Hear Senator| NEW YORK, October 31.—Heads of Discuss Tax Law Revision all city departments were summoned to City Hall today b§ Mayor Walker to set a budget for the city’s expenses for 1932, The usual- budget meeting, held in executive session by the Board of Esti- ate snd Apportionment, with the mayor presiding, was disrupted last night when Mayor Walker learned that Controller Berry had given a statement to the press saying a $14,000,000 budget saving was possible Walker, angered at the state- urned the meeting. “It's the an executive session, the , and charged Berry with for the heavy to Boost Revenues. | Senator Hiram Bingham of Connecti- | cut will discuss congressional revision of the Federal tax laws tonight in a National Radio Forum address, ar- ranged by The Washington Star and | broadeast over the coast-to-coast net- work of the Columbia Broadcasting Co. at 10:30 o'clock, Eastern standard time Senator Bingham, a member of th Finance Committee, which deals all revenue laws, is one of those who D believes that Congress should revise im- mediately the tax laws to provide addi- tional revenue to meet the defieit now faced by the Federal Treasury. As the opening of Congress draws nearer it appears increasingly probable | that recommendations for tax revision will be made in his annual message by President Hoover. Senator Bingham will explain his reasons for favoring tax increases at this time and give an out- line of what the revision should be. ! BUSINESS IMPROVEMENT INDICATED FOR CANADA | Bank Debits and Employment in Many Leading Industries Show Gains Over Last Year's Totals. By the Associated Press OTTAWA, Ontario. October 31 —A| general quickening of the industrial pulse of Cansda this week was indi- cated in a report of the Department of Trade and Commerce yesterday Bank debits show an increase of 11 per cent, as compared with 4 per cent the corresponding period last year, al- though the aggregate total is not so large. Increased employment in many of the leading industries of the Dominion and in retail trade was shown, the report said, and improvement was noted in indices measuring the sales and values of Canadian :ndustrial end publie util- ity stocks as well as gold and copper mining issues. s in Sestemuer ‘and Complerion. of r and jon ‘construction | m | block. No one was injured. {ANIMAL SOCIETIES GET $2,000,000 evading responsibi'ity budget by placing the blame on others, | although Berry himself had voted for the tentative budget earlier in the week “It will all be done in public,” the mayor said. Mayor Walker criticized Berry's state- ment, which called for a reduction in hospital foods and the limiting of some ferry boat schedules. e A Bomb Damages Cuban Houses. HAVANA. October 31 (#).—A large bomb exploded early this morning near the residence of Representative Santi- ago Rey, in the La Vibora section of the city. The explosion caused consid- erable damage to many houses in the RAILWAY WORKERS' MEET HERE MONDAY T0 PLAN NEW LAWS Among Vital Questions to Be Discussed. |ORGANIZATION OFFICIALS | REPRESENT 1,250,000, Committees Which Have Been tive Several Weeks to Make Reports. By the Associated Press. CLEVELAND, October 31 —Railway labor organizations will open one of their most important meetings in re- cent years when their representatives gather in Washington Monday to con- sider questions vital to both the rail- ways and their employes, which wm‘ | later be presented to Congress for | | action. | The organizations will be represented | by the Railway Labor Executives' As- sociation, composed of chief executives of the 21 railway labor organizations, ! and by B. M. Jewell, president of the | railway employes' department of the American Federation of Labor. The executives will represent about 1,250,- 000 railway employes. Reports to Be Heard. They will hear reports of commit- | tees of th» rallway organizations, which | for several weeks have been considering | many vital questions, D. B. Robertson, chairman cof the Executives’ Association and president of the Brotherhood of | Locomotive Firsmen and Enginemen, said. Unemployment stands out as the most importent question, Rcbertson said. | General wage readjustments, he added, will not be considered. The question of | wages will b2 considered only in so far | as they apply to the proposed modifica- tion cf rules governing the compilation of wage statistics. There are more than 350,000 railway | workers idle, facing a hard Winter with little finencial help possible from their | | employed fellow ~ workers, Robertson | said. Other Vital Questions. Coupled with the question of unem- | ployment, he said, is the question of the shorter work day and stabilization of employment in the railroad industry, consolidation cf railroads, the national | for railroad.- employes, | regulation of bus and truck tra&nspor- tation on the public highways, and in- |1and waterway transportation. srtson expects “a constructive, | practical program for relieving un- | employment in the railroad industry | will emanate from the eanference.” Failure of Solution. “All efforts to revive business in the railroad industry and thereby provide employment for the several hundred thousand jobless workers, who are anx- jous for an opportunity to earn a liv- ing, have failed,” Mr. Robertson said. “Those responsible for the successful operation of the industry have been un- able to find a solution. The suggestions of econcmists and the investigations by ({‘,m'emment tribunals have likewise ailed. “The railway labor organizations have been studying this subject for some time. | “The suffering among the unemployed | in the rallroad industry has reached ni point which demands definite action which will insure some real measures of practizal relief. The approaching Win- r emphasizes the necessity for imme- diate action.” Other questions to be considered in- clude amendments to the railway labor | act, the Federal employers' liability act, bill $-4357, limiting the jurisdiction of the United States District Courts; Fed- eral workmen's_compensation law. re- quests of the Ferry Boatmen’s Union and the dining car conductors for ad- mission into the Railway Labor Execu- tives' Association, general political situ- ation, increases in freight rates request- ed, wage reduction by the Chicago &{‘ Northwestern Rallway, indorsement 0(‘ political candidates through Labor and | disarmament. \ Altogether, there will be 28 subjects | on the program for consideration o s EX-DEACON CONVICTED IN COLORADO SLAYING Roy G. King Waives Right to Ap-| peal and Says He Will Appear for Sentence Today. | | By the Associated Press ’ COLORADO SPRINGS, October 31.| —Roy G. King, 41, former deacon, was | convicted last night of voluntary man- | to slaughter in the death of Lewis J. Palmer here July 20. Weiving his rights for appeal, King said he would appear for sentence to- day. The conviction carries a penalty of from one to eight years in the peniten- tary. Glenda King, the defendant’s| daughter, who was with Palmer in a parked motor car at the time he was slain awaits trial on a charge of being | King denied the slaying from the wit- | ness siand, repudiating & purported con- | | fession to officers. The prosecution did | | not attempt to establish a motive for!| the shooting. .+ IN BEQUEST | | By the Assocated Press. CHICAGO, October 31.—Dumb ani- mals of Chicago and elsewhere have come into some $2,000,000. was furnished by the late McConnell—who never had a pet of her own during the 74 years of her life. She died last ‘Thursday of apoplexy. ‘When her will was filed for probate it was le?med that the Anti- of after to relatives. ltmmm Chicago Woman Who Never Had Pet Leaves Two-Thirds! of Fortune for Creatures. S OF RICH WIDOW. |estate was worth $3,000000 and that each of the societiss would Tecsive about | ing $205, Florence, Elizabeth and Marion nell of Forest Hil's, Long Island. Mrs. McConnell inherited about $1.- 000.000 from her husband, er;:hc McC: 14 years ago. By rg -hrmmn:;“'v-unmm she trebled the for- th market. part of the estate consists | The ‘of noeg‘h”'he Eagle-Ottawa Leather | Co., of Grand Ramids, Mich. HOOVER AWAITING | Navy League, RIGHT For You To & | AGTION BY LEAGUE IN NAVAL DISPUTE Ready to Start Selecting Jury When He Receives List of Members. By the Associated Press. The next move in the bitter contro- increased armaments, is up to the a jury to decide whether he has shown ‘William Howard Gardiner, its president, i hoods.” as charged by the White House. 1‘ Navy League” before selecting the jury. | for the membership of a committee was received by the league this morn- | William , M. versy between President Hoover and the long-time advocate of League. President Hoover is ready to name “abysmal ignorance of naval matters,” as charged by the league, or whether | over whose name the attack was issued, is guilty of uttering a “tissue of false- The President is awaiting, however, | “to secure a list of the members of the “As soon as that list is obtainable,” | he said, “I shall select Tepresentation | which will be able to establish the un- | truths promulgated by the president of | List to Be Given Hoover. The request for the membership list | ing. and probably will be met within a | few hours. | Galvin, executive secre- tary of the league, said he would com- | | ply with the request as fast as the list | could be assembled from the 4,000 in- dividual cards on Wi records are kept. Gardiner was advised by the league office of the President’s request. For their part, neither the leagus nor Gardiner has indicated assent to the President’s proposal that they par- ticipate in an airing of the controversy | by a presidential appointed committee. Silence has been the only answer to the President’s bitter denunciation of Gardiner, of whom he said he would | expect “a public correction of his mis- statements and an apology” upon com- pletion of the inquiry. Gardiner expressed surprise Thurs- day night after the President’s attack. | He said then he would welcpme a con- | gressional investigation “to’ bring out | the facts.” Yesterday, his only public | move was the summoning of the league’s | Executive Committee to meet here soon. It is not the first time the league has met_difficulties with the Govern- ment. Because of its continuous de- mand for a bigger Navy before the United States entered the World War, Josephus Daniels, as Secretary of the Navy under President Wilson, forbade league members to set foot aboard any | sity, where he was acting professor of | naval vessel or within any naval sta- tion. Stimson Issues Statement. Secretary Stimson also joined yes- terday the denunciation of the league, which precipitated the controversy by charging President Hoover not only was ignorant of naval needs, but sought “starve” the sea service. | The text of Secretary Stimson's statement follows: “The statement says that there were dmittedly agreements at the Rapidan (between President Hoover and Prime Minister MacDonald of Great Britain on naval matters) that were ‘never offi- cially divulged in their entirety.’ It is entirely false and has been publicly re- futed many times. “The statement says that ‘the ad- ministration refused to allow even an executive session of the Senate Com- mittee on Foreign Relations to see the full record of its negotiations and pos- sible commitments preparatory to the London Naval Conference of 1930." This 2lso is false. ‘As a matter of fact, we permitted every member of the Senate Commit- tee on Foreign Relations who would agree not to publish the records in the newspapers to have full access to the records Says Reed Had Papers. “The only members of the Commit- tee on Foreign Relations who did not see the records were persons who were unwiling to make that promise. We never refused to allow the Senate Com- | mittee to see them in executive ses- ;km. The whole statement is entirely alse. | “Senator Reed (Republican, Penn-| sylvania), had the papers in his cus- tody and was authorized by me to show | them to any member who would prom- ise to see them in the confidence in which diplomatic papers are regularly | kept He showed them to several| members. | “Any pamphlet which starts off with two such misstatements, so_deliberately | and flagrantly false, is mot worthy of any further comment.” | Radio Programs op Page B-16 | 4 Named to Board ' GEORGE M. WHITWELL. WHTVELL NAWED TOSCADOLBOARD Native of Capital Is Picked to Succeed H'. B. Learned in Education Post. George M. Whitwell, a former secre- tary of the Washington Gas Light Co., was appointed today by the District Supreme Court justices as a member of the Board of Education, succeeding the late H. Barrett Learned. ‘Whitwell's appointment becomes ef- fective ingmediately and he will assume his new duties at the next meeting of The new member had not sought the appointment, but rather had declined to permit his name to be men- MOSCOW AND TOKIO CLEAR SITUATION IN MANCHURIAN: AREA Report Indicates Soviet Was Not Dispatching Troops to Guard Railroad. By the Associated Press. TOKIO, October- 31.—That Japan and Russia are seeing eye to eye, for the time being at least, regarding the ;muntlon in Northern Manchuria was | made clear here today in reports re- | ceived from the conversations in Mos- cow between Ambassador Hirota and L. M. Karakhan, acting foreign affairs commisar of the Soviet government. ‘The-reporis indicated Russia was not sending any troops to guard the Chi- nese Eastern Rallway, Sino-Russian {opeflhd line crossing Manchuria, and |that Japan was not dispatching any | soldrers to that railway region unless there were unexpected developments. ‘Will Protect Interests. Hirota emphasized that if Russia | deemed it advisable to station soldiers along the Chinese Eastern line, Japan would ider sending troops north- ward protect various Japanese in- out of Manchuria. In view of the cleared atmosphere between Moscow and Tokio, Japan is not sending a military detachment to the Nonni River near Tsitsihar to serve as a guard for workers of the Japanese- operated South Manchurisn Railway, who are repairing a bridge of the Chinese-owned Taonan-Anganchi line. Gen. Mah Chien-Shan, commander of the Amur army which destroyed the bridge, was represented as having given assurances he would permit its repair. The Japanese guard detach- ment remained at Taonan. League Is Criticized. Meanwhile the Japan League of Na- terests m the complicated railway lay-'| ticned for the post when first approach- | tions Association ecriticized the League | per cent of ‘the cases brought them “had their inception in the illicit | than liquors.” ed by friends. However, when it pointed out he should regard the a pointment as a civic duty, he agreed | to let his name be put forward. With Company 36 Years. An employe of the Gas Light Co. for | 36 years, Whitwell resigned as secretary last January. He lives at 1781 Lanier place, is 57 years old, married and has | two children, a married daughter and a son who is a post graduate student at | Princeton University. Whitwell fills the vacancy on the board caused by the resignation several months ago of Learned, who died three weeks ago of a heart attack in his apartment at Leland Stanford Univer- history. Is Native of Capital. Whitwell is a native of Washington. After graduating from the grade schools here, he entered the Preparatory Schosl of Columbia College, now George Washington University, and later studled at Hampden-Sidney College, in Virginia. He is a member of the Chevy Chase Club, a past president of the Washing- ton Rotary Club and is actively con- nected with the Church of the Covenant, Since leaving the Gas Light Co. he has been in retirement. ATLANTA JURY ASKS Presentment Declares Testimony Shows Impossibility of Stop- ping Liquor Flow. By the Associated Press ATLANTA. Ga. October 31.—Repeal of the prohibition amendment “in the interest of temperance” is advocated by a Superior Court grand jury here. Tre jurors made a formal presenta- tion to Judge John D. Humphries Fulton County (Atlanta) Court yesterday declaring “sworn tes- timony before us was to the effect that it was impossible to stop the flow into Atlanta and sale illicitly of liquors.” “It was found,” the presentment read, “that many people, normally law-abid- ing, have utter disregard for and. in fact, in some cases takes a delight in breaking the prohibition laws.” In urging the repeal of the eighteenth amendment, the jury it steps be taken to put into effect “prop- er regulatory laws that will regulate definitely and strictly the sale of intoxi- cating liquors.” The jurors reported that at least 90 before sale of spiritous | Council for its adoption of the resolu- tion asking Japan to withdraw her troops from the occupied areas of Man- churia by November 16 preparatory to ~ (Continued on Page 2, Column 4) il WHEAT PRICES RISE ‘SHARPLY AS EUROPE SUPPLIES DWINDLE |Reports That Continent Must | Turn to America for Grain Stimulate. |MARKET IS 30 PER CENT HIGHER THAN OCTOBER § Movement to Seaboard for Foreign Consignment Grows and May Rival Wartime. By the Associated Press. CHICAGO, Octdber 31.—Good news was current for farmers and other holders of wheat today. Reports were circulated that buyers of the world’s breadstuffs will have to turn to the United States and Canada for large quantities of wheat before the next harvests of the Northern Hemi- sphere. ‘These reports said that the grain bins of Europe held only a four- week supply. This’ feeling of an impending short- age, or at least of a restoration of nor- mal relationship of world supply and demand, apparently had its effect on the trading on the Chicago Board of Trade yesterday. Prices went to the season's highest peak. FPuture de- liveries rose from 2%3 cents to 2% cents | a bushel, May wheat closing at 645. 30 Per Cent Above Low. ‘Wheat has been crawling steadily up- ward since the low was Oc- . Puture quotations are now 16 cents, or. more than 30 per cent, above that low figure, and corn and rye have had even more spectacular advances. “The recent upward trend in grain markets has been justified b mand and is a condition we working toward for some time” said George S. Milnor of the Grain Stabili- zation Corporation. “We who have been wwchln&t.he turn of events are naturally quite elated at the improvement this in ago Tribune said today that pidly cm%m of wheat were these salient 3 in the movement of rond et shipments from al in the next few months may rival the great war-time movements. Board Selling Holdings. Announcing _that . Government- financed grain hol are being sold at a rate in excess 5,000,000-bushel average monthly maximum, which the Federal Farm Board promised in July to hold to, in order that the machinery of marketing might not be disturbed. The entry into the future markets as buyer by the Grain Stabilization Corporation, not as a resum, effort to stabilize the.price of but to hold its balance of selling to the 5,000,000-bushel maximum. Heavy purchases by fore] tors who deal in sm: the Board of Trade and rumors important capitalists have turned bull- ish and are heavy holders of wheat. PLAN CORN SALE DRIVE. Jowans to Be Asked to Buy 100 Bushels Each to Aid Farmers. DES MOINES, Iowa, October 31 (). % Jowa is getting ready to put millions of lazy dollars to work with a State- wide corn-selling campaign. The plan, which is to be put into effect early in November, involves the sale of mill'ons of bushels of Iowa corn at_60 cents a bushel. Every person in the State who makes $2,400 or more annually will be re- quested to participate by pu at least one unit of 100 bushels. ers may }mrchne if they wish, the sponsors of the idea estimating that it will mean from $8,000,000 to $10,000,~ 000 to them in one form or another. Purchasers are to receive warehouse ve been | & rehnsing in ‘Superior | CERMAK WILL VISIT RASKOB AND SMITH of warehouses in accordance with the State law. Coupons will be issued to the farmers which must be exchanged with their local merchants for merchandise within 30 days after receiving payment. The merchants in turn must exchange them for goods or services within the | Democratic | Hopes to Promote Harmony Among Party Leaders. Mayor Chicago | the organization sponsor'ng the plan. estimates that business will be stim: ulated all along the line. The coupons, after they have served their purpose in improving business, may be cashed at banks, which will be remunerated by the Corn Legion. J. Dolliver Kent, president of the Des Moines Elevator & Grain Co., is | the legion’s chairman. ARRIVE AT BALBOA By the Associated Press. | _ CHICAGO, October 31.—The Chicago | Tribune today that Mayor Anton | J. Cermak. after attending the Notre | | Dame-Carnegie foot ball game in Pitts- | burgh, would continue to New York in of promoting harmony among Eastern Democratic leaders. with Alfred B Srmith, dctearen Domo: = b Alfred E. Smith, de: cratic presidential candidate of 1928,| BALBOA. Canal Zone, October 31 a0 Job & ob, chairman of the | /. —The U. S. S. Sacramento_arrived | National Committee. Cermak, after | this morning, bringing Elmer Palliser, conferring with Smith and Goy. Prank- | Gordon Brawnper and Paul Stachwick, lin D. Roosevelt of New York last July, | three Americans who were said there was no real conflict between | on Cocos Island for six months. NeThe oni o, the Trib id, T e Chicago mayor, une said, . intended to tell Eastern party leaders| G00se Bites Hunter’s Ear. thet Western Democrats will not be| SIOUX CITY, Iowa, October 31 () frightened by Southern Democrats who | A good-sized piece of one of Roy Stoup’ bolted the party in 1928, and that they | ears was lost yesterday when he was | will insist that whoever is nominated |bitten by a Canadian goose he chased | must have the combined backing of the | into some high grass after he had Smith and Roosevelt camps. 'brought the bird down while hunting. | 'GAS, AMMONIA AND CLUBS—SCATI'ER “REDS” WITH SLIGHT CASUALTIES |Los Angeles Police, Aided by Marines and Sailors, Prevent Demonstration for Miners and Mooney. By the Associated Press. Pive men and five women were booked IGELES, October 31.—Police | at the police station afterward on vari- used tear gas bombs, ammonia squirt guns and clubs last night to prevent Communists and their sym- thizers from hclding a meeting in Hall, in the downtown section. of each group were slightly | injured in the riotous which | followed when pol | were repulsed | of the meeting locked | The crowd was estimated and not 1 i enemies s, the Towa Victory Corn Leflon,’ | bushel and cotton by $15 to § [HOOVER SEES END OF HOARDING AND BANK FAILURES Holds Credit Change Is Evi- denced by Recovery of Wheat and Cotton Prices. $24,000,000 IS AGAIN PUT INTO CIRCULATION Cites Apprehension in U. §. Follow- ing Suspension of Gold Stand- ard in England. By the Assoclated Pres: A sharp upward swing in public con- | fidence which has led already to & cessation of money hoarding and the iend of small bank fallures is seen by President Hoover. Almost exactly two years after de- flation of the stock market began in 1929, the Chief Executive cited yester- day a “very great change” for the better in credit conditions, with its practical effect evidenced by a recovery in wheat and cotton prices. “Evidence over the last week indicates that not only has hoarding ceased, but actually $24,000,000 of hoarded money has returned to the banks,” Mr. Hoo- ver sald. * * * The small bank fail- ures have almost ceased, * * * foreign exc! are returned fo a basis at which 1t is not longer advantageous to B Sractical e this “The pi ect of is shown in an increase in mmm wheat by 10 cents a bushel and cotton by $15 to $20 a bale.” Happy to Note Change. 7 of Obviously he haj was . Economie conditions have his_time months to almost milé?n';h he held a prepared state- Several timas 10 emphasias Bis view conditions. As he read of “a ] t 3 Eiates owing. son tne S oS, eon 8 0 that real volume had not been preciated by the average Ameriean cit 2en. 5 Colnefdentally, as NW. con- = 3 America’s neighbor to came from an official source. Canada Notes Change. receipts and the corn will be placed in | financial gold standard in England, a wave great apprehension spread over country, Hoarding of mnem rose to the high t of $200,000,000 a week between t time and the ment of the credit pool and other credit measures. “Country bank failures had risen to | nearly 25 a day during this period. At the same time the drain of gold aboard due to the alarm of foreign holders of American credits had in this period rue: to as high as over $200,000,000 & week. “Evidence over the last week indi- cates that not only has hoarding but actually $24,000,000 of money has returned to the banks. The small bank failures have almost ceased showing only 7 out ign exchanges are returned to & basis at which it is no ad- vantageous to ship gold “The practical effect of this recovery is shown in an increase in the of wheat hy 10 cents or 12 s 20 & bale.” HITLER PRESIDENTIAL RACE IS HELD BEGUN Communist Organ Says Alit_ Proposed Own Candidacy . . to Socialists. By the Associated Press. BERLIN, October 31.—The Com- munist organ, Berlim Am Morgen, says that at the meeting of National Social- ity of the law2biding citizens of Los the