Evening Star Newspaper, April 10, 1932, Page 16

A—16 = JAPANESE BANKS FEEL DEPRESSION Large Reductions in Deposits and Loans Show in 35 Cities. By the Associated Press. TOKIO, Japan, April 9.—Banks in Japan are feeling more than ever the strain of the continued industrial and commercial depression. This is shown in large reductions in deposits and loans in the case of the leading banking institutions, while many of the smaller ones face bank- ruptcy or have gone to the wall, es- pecially in Central Japan, in and around the big city of Nagoya. The report of the clearing house of 35 cities in Japan for February shows deposits held at the end of that month totaled 568,749,000 yen, a drop of 37,808,000 yen from the end of Janu- ary. (The yen is valued at 50 cents at par) Loans outstanding at the end of February totaled 5,229,947,000 yen for these clearing house batiks, a_decline | ©f/ 400,008,000 yen frdm the previous month. Draw on Reserves. wmle the big banks of Tokio and Osaka are weathering the storm, owing to their conservative business policy and ironclad reserves, the smaller banks in the county prefectures are baving a bad time. The year 1931 was one of the worst in their history. Even the solid banks in the chief cities have had to write off large amounts and transfer funds from their reserves. Depreciation of securities held by the banks has been very great, the loss ranging from 5 per cent in the case of the Mitsui Bank to 347 per cent for the Mitsubishi Bank, which obliged them to draw on their re- serves to the extent of 12,500,000 yen and 10,000,000 yen, respectively. Other banks had to make similar transfers in_proportion. The financial troubles in England and Germany were reflected in Japan in many ways, especially in the price of bonds. For example, Kobe City 5 per cents, considered gilt-edged, drop- ped 10.30 yen from the 97.20 yen of the middle of last year to 86.90. Little Hope of Relief. Due to the revival of the gold em- bargo by the Inukai cabinet, Japanese companies and municipalities that have to pay interest and sinking funds on loans made abroad face a heavily in- creased burden and those which did so under guarantee from the government are reported to be asking it to make good their losses, or at least part of them. In view of the government's own financial straits, however, there seems little hope of their getting relief. When the yen was at normal ex- change, companies and cities which borrowed under government guarantee had to pay 7,600,000 yen, or about $3,- 560,000 annually in United States funds. With the yen at 32, however, they have to pay approximately 3,980,- 000 yen more, mostly due In June and RECORD REGISTRATION ¢ MADE IN CALIFORNIA ¢ Democrats Show Considerable Gain |/ for Three-Cornered Presidential Primary May 3. By the Associnted Press. SAN FRANCISCO, April 9.—Califor- nia’s Democrats found today, u:mughl an Associated Press tabulation, they a three-cornered dential | & conwst May 3. Py ® The State's Republicans, though still & holding a comfortable numerical mar- gin, discovered marked losses, espe- cially in heavily populated and indus- trial centers. Democratic gains were reported from each of the State’s 58 countles. The total registration of 844,925 is an in- crease of 388829, compared with the 1930 State election, and an increase of 379,132, compared with the 1928 presi- dential primary. In the Republican ranks the regis-|& tration total of 1,399,298 is 239,277 less than that for the 1930 State election, but is 144,784 more than the 1928 presidential primary registration. Sixteen counties reported fewer Re- publicans than in 1930. Slates representing the candidacies of Gov. Franklin D. Roosevelt of New York, John N. Garner, Speaker of the House of Representatives, and Alfred E. Smith, the party's standard bearer in the 1928 campaign, are before the voters President Hoover has no opposition for the State's clelegation to the Na- tional Republican Convention. WET ISSUE IS RAISED IN NORTH CAROLINA Both Parties Prepare for Bitter Primary Fights—Anti-Dry in G. 0. P. Senate Race. By the Associated Press CHARLOTTE, N. C, April 9.—Wets and drys of both Democratic and Re- publican parties in North Carolina to- day prepared for bitter primary battles after announcement by George Wil- liam De Priest, former Shelby post- master, that he would seek the Repub- lican nomination for the U. S. Senate on a wet platform Robert P. Reynolds, Asheville attor- ney, a wet, fi i ed the issue while stumping &, Cameron Morrison, the Democratic incumbent Tam C. Bowie of West Jefferson and | & Frank D. Grist, State commissioner of Jabor, also are Democratic candidates De Priest's announcement cast a ‘bombshell into ruling Republican ecir- | cles, which had already accepted as fmevitable the nomination by acclama- tion at their State convention here next week of Jake F. Newell, Charlotte at- torney, a Sunday school teacher and close friend of Bishop James Can- non, jr. DEBT TIES UP DIVORCE Ethel Clayton, Former Film Star, Asks $4,827 From Husband. LOS ANGELES, April 9 (#).—Efforts | of Ethel Clayton, former film star, to assure repayment of $4,827.50, she claims lan Keith, her actor-husband, owes her, have delayed the formal en- tering in court records of an inter- Jocutory divorce decree she obtained February 26. Keith’s attorney appeared before Superior Judge Valentine Thursday and moved the decree be entered. Miss Clayton's attorney, however, said she desired to have the divorce case re- opened for settlement of the money which she claims is due on a loan of $7,500. PLAGUE DEATHS DROP NEW YORK, April 9 (#.—The Na- tional Tuberculosis Assoclation an- nounced yesterday that the national death rate fror that disease declined to 87 deaths per 100,000 of population in 1031, The rate for 1930 was 71 per 300,000 and 76 in 1929, Specia 10 Delivers This Suite Balance Weekly or THE SUNDAY STAR, WASHINGTON, D. C, APRIL 10. 1932 —PART ONE. The Julius Lansburgh Furniture Co.2888000000000000880885% Entrance 909 F St. urchase of Elegant Quality Bed Room Suites This Magnificent Bed Room Suite Made to Sell for This suite illustrates how it is pos- sible to buy quality furniture at Julius Lansburgh Furnture Co. at a substan- tial saving. with beautiful foundation. Made of American walnut overlays on hardwood H and somely finished, high-class construction. $150 The suite consists of a full size dou- ble bed, deck chest of drawers, Holly- dresser, wood Vanity, and a large Venetian mirrors on dresser and vanity are particularly impressive. 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