Evening Star Newspaper, September 21, 1932, Page 4

END OF HOARDING HELPS BUSINESS Steady Return of Money to Circulation Held Sign of Public Confidence. BY MARK SULLIVAN. Among the many forces working for business recovery and a normal con- dition, one of the most powerful and at the same time least-noticed is the steady return of money from hoarding into circulation. While it is difficult to be exact, the Treasury and Federal Reserve officials are able to calculate roughly the amount returned from week to week. The return scems to be going on at a rate of from 25 to 50 million dollars a week. The return reflects a state of mind on the part of hoarders which con- sciously or unconsciously realizes that in keeping their money in hoarding under present conditions, th are robbing themselves. A man who on June 1 last had a dollar in hoarding and who kept it there, has lost on the average at least 15 cents of it and to- day has less than 85 cents. The rea- son is the increased prices of goods, or to put it another way, the decrease in the purchasing power of the dollar. Dollar Now Buys Less. To state the whole situation, a man who had a dollar in hoarding June 1 with it. can To put it | bought gocds with | his e 1, he would today | be much better off. For the purpose | of buying bonds. what would have cost | a dollar on June 1 now costs §2. For this purpose. what was a dollar in June is now only half a dolar. For the purpose of buying cotton, what was a dollar on June 1 is now only about 60 cents. This change has gone on in practically every kind of commadity or security. A person who has kept his money in hoarding has done serious detriment to himself. Early last Winter, when hoarding was at its height, an organized effort; was made to induce people to return| the hoarded money to circulation as a patriotic_contribution to the common good. The effort had some success, but not a great deal. Today, however, and since about July, the motive of per- sonal interest has been at work and has worked powerfully. To take money out of hoarding and buy goods with it has worked to the advantage of each one who has done it. The aggregate has worked enormous advantage to the country. The total amount of money hoarded when the practice was at its height has been estimated by Chairman Atlee Pomerene of the Reconstruction Finance Corporation _at $1.600.000,000. Some Treasury officlals think this may be high. The difference is not material. Adding to Circulation. If the amount was only $1,200,000,000 that was more than a quarter of all the money in use in the whole country in normal times. The return of that money, now rapidly under way, is add- ing roughly one new dollar to every four in circulation. Any person is able to realize the advantage to any com- munity and to the whole country, of adding one new dollar in currency to| every four in circulation. This pro- cess is at once an effect and a cause of better business and greater confl- dence. The sum of the similar cura- tive processes actively under way is in- vincible in bringing about better busi- ness conditions. The process may be obscured from time to time by excitement about poli- tics, or may be forgotten because of greater current interest in litics. That the process is steadily under way admits no doubt. The rapidly increas- ing return of money from hoarding is one of the best evidences. Complete return of hoarded money, probably with- in a few weeks or months, is as striking a phenomenon in the wholesome di- rection as_increase of hoarding was disastrous last Winter and before. (Copyright. 1932.) FLYING FAMILY MISHAP ,IS BLAMED UPON RADIO Hutchinson Says Short Range Pre- vented Getting of Bearings. Lands in Scotland. By the Associated Press. LAIRG, Scotland, September 21— ‘The short-range radio equipment which his airplane, the City of Richmond, car- Tied was biamed today by George R. Hutchinson for the forced landing he and his fiying family were compelled to make off the east coast of Greenland. The Hutchinsons arrived here last night abroad the steam trawler Lord Talbot, which rescued them after they had been stranded for two days on the Greenland ccast during their attempt to fly from New York to Europe. “If our radio had a little more range we would have been able to pick up our bearings and would have been all right,” Hutchinson said, describing the aeci- dent. Hutchinson said he wanted it under- stood that the adventure of his “flying femily” was not a “stunt flight.” “The children have always been with us in our fiving,” he said, “and when we planned to fly to Europe we natural- 1y tock them along. “Our route was the safest possible and we were only 14 miles from safety when the accident happened. It was just a bit of -bad luck.” MARION NIXON REPORTED SEPARATED FROM MATEI Actress Said to Be Living in Los Angeles Hotel While Hus- band Stays at Home. Bv the Associated Press LOS ANGELES, September 21.—The Examiner said last night that all was not well in the household of Marian Nixon, film actress, wad her husband, Edward Hillman. jr., former Chicagoan and polo player, and that Miss Nixon bad left their Beverly Hills home to live in a hotel. Friends of the couple and Fox Film studio officials said there have been many rumors about the separation, the newspaper stated, but that Miss Nixon insisted there was “nothing to it.” An effort to question Miss Nixon and Hill- man was unsuccessful. Miss Nixon, former wife of Joe Ben- jamin, a pugilist, was married to Hi man, son of a Chicago merchant. in August, 1929. Friends said the reported disagreement between them dated from the time the actress returned to work in the films after an absence of several years. CUBANS FLYING HERE Three Good-Will Aviators to Go Via Leavenworth, Kans. SAN ANTONIO, Tex., September 21 (® —Three Cuban Army flyers, who flew here yesterday from Mexico City, lanned to continue on to Leavenworth, ans., tomorrow with stops at Dallas, Tex., and Muskogee, Okla. ‘The fiyers, headed by Capt. Mario Torres, are on a geod-will flight to ‘Washington. With Torres are Lieuts. Rodolfe Herrera and Pablo Alonso Gon< gales and three enlisted mechanics, The officers were guests here of Brig. Gen. Charles H. Danforth, in command of the air corps training center, and L. commander S THE EVENING STAR Mine Newspaper Bombed NATIONAL GUARDSMEN CALLED OUT. U Lower PPER: Bombs thrown in the bicter Illinois ccal mine labor dispute dam- aged the offices of the Taylorville Breeze, Taylorville, Iil, newspaper, | and the headquarters of the United Mine Workers of America. Above picture shows the damaged new: Following the bombing National Guardsmen were ordered spaper office. out to restore order and provide protection against further bomb outbrecks, Two Guardsmen are here shown patroiling the streets. P. Photos. VIOLENCE BARRED INNEW FARY DRE 2,000,000 Growers Asked to Assist Non-Selling Plan in 11 States. By the Associated Press. DES MOINES, Iowa, September 21.— A new drive to keep farmers of 11 Midwestern States from selling non- perishable products was under way today. Leaders of the Farmers' Holiday As- sociation, sponsors of the non-selling movement, which is designed to bring higher prices for producers, said they had asked nearly 2,000,000 farmers to join in the “strike.” Agriculturalists in Minnesota, North Dakota, Oklahoma, Nebraska and Iowa, the strike leaders said, had given as- surances they would participate. They added that farmers in Ohio, Wisconsin, South Dakota, Kansas and Illinois had “shown interest” in the movement. The new strike order marked the be- ginning of a second “war” for higher prices. The first drive. which beg~n more than a month ago in iowa, was mz by picketing and violence, but toda strike order carried an edict from Farm Holiday leaders forbdding attempts to blockade the highways. Roads near Sioux City, Iowa, and Worthington, Minn,, two focal points of the strike, were clear today. Little ac- tivity has been seen about Sioux City for several days and picketers near Worthington were recalled by Ben J Diekman of Lismore, president of the county holiday group, upon instruction ' from John H. Bosch of Atwater, leader | of the movement in Minnesota R. L. Rickerd, president of the Okla- homa Holiday Association, declared at Oklahoma City that the strike would begin today, with 90 per cent of the State’s farmers participating. He as- | sured Gov. W. H. Murray there would be no viclence. A -—— Vegetarians Hold Parley. i On thousand eschewers of meat many, for a vegetarian congress. RITES ARE SIVPLE FOR RS, GARNER Brief Service Is Held at Side of Grave on Oak-Topped Texas Hill. September 21.—A burial service as simple as the life she led was arranged today for Mrs. Sarah Jane Garner. whose son was born in a log cabin, rose to be Speaker of the United Statcs Hcuse of Representatives and now is Democratic vice presidential | nominee. The 8l-year-old mother of John Nance Garner died peacefully yesterday | in the home she and her husband built in this little community shortly before their elde:t went away to become an at- torney and a Congressman. She had hoped to live to see him elected Vice President Son at Bedside Recognized. The Speaker was et her beds'de. Though his mother was in a coma dur- ing the greater part of the last few days. she rallied long enough to recog- nize him and speak to him 2 brinf service was arranged at the cveride today in a liitie cemetery on opped hill outside the town. Afterward Mr. Garner will return to ‘Washington, then go to New York to take up again the work for the Democratic national ticket which he left to see his mother for the last time. “I think my mother was the sweetest woman in the world.” said the white- haired Speaker. “Besides rearing seven children, she took care of five orphans. Her entire life was devoted to doing good for others.” President Among Sympathizers, Mesages of sympathy for the family came yesterday from all parts of the Nation. Among them was one from President Hoover. The humblest of the mourners was the little white dog shown with Mrs. Garner in the photograph of her most used by newspapers. It shows her sit- ting in a rocker before the fireplace at her home, logs blazing on the hearth, with the dog in her lap. It was by her | gathered recently at Oranienburg. Ger- ' bedside almost continuously during her last illness. For each 360 bor- rowed you aiue to sit 35 a month in an ac- count, the pro- cancel the note when due. Depos- its may be made onaweekly, semi- monthly or monthly basis as you prefer. The terms of Morris Plan Loans are simple and prac- tical—it is not necessary to have had an account at this Bank to borrow. Loans are pass- -ed within a_day or two after filing application— with few escep- tions. Monthly c For 12 Months $10 $1s $20 $25 $30 $45 $1,200 $100 $6,000 $500 Ame. ot Note MORRIS PLAN notes are usually made for 1 year, though they may be given for any per: of from 3 to 12 months. “MORRIS PLAN BANK Under Supei ision U. S. Treasury 1408 H Street N. W., Washington, D. C. “Character and Earning Power Are the Basis of Credit” WASHINGTON, SUTFILED TOHALT | BOND SALETORF.L. Californians Seek I\niunctio’n Involving Financing of Water Project. The District of Columbia Supreme Court has been asked by Ralph F. Burn- ham of Pasadena, Calif., and Rcss Grant and Albert I. Smith, Los Angeles, to en- join the Reconstruction Finance Cor- poration from purchasing $40,000,00Q of the bonds of the metropolitan water dis- trict of Southern California for the pur- of starting construction of the pose Colorado River Aqueduct. The court was tcld that the defendant corporation has agreed to buy the bonds. $20.000.000 this year and $20.000.0 next year, despite a notification from 7,253 citizens of Long Beach that they would not be liable for the repayment of any such advance to the water dis- trict. Possibility of the City of Long Beach withdrawing from the metro- politan water district also was presented to the defendant corporation, it is stated. The claim was made that the water district is not a “self-liquidating” proj- ect as outlined in the emergency relief and construction act and the liquida- tion of its bonds would fall as a burden on property owners in Southern Cali+ fornia, which include the three pe- titioners. The construction of the Colorado River aqueduct, it was stated, would greatly increase'the cost of water and decrease the demand so the project can- | not be financtally successful Attorneys Harry J. Gerrity and Stan- | ley Konopka represent the protesting | reel estate owners. . | | WIFE HELD ON CHARG! | OF SLAYING HUSBAND Accused After Retired Petty Offi- cer Dies, Telling Officials Not¢ “to Blame the Girl.” By the Associated Press. POPLAR BLUFF, Mo., September 21 —Murder charges were filed in Wayne | County Court yesterday by Prosecuting Attorney J. Osborn, against Mrs. Edna Williamson, 34, in the death Thursday night of her husband, Earl D. Willlam- retired chief petty officer of . and former member of the was shot at his home. He told | “Don't blame the girl: I'm to| and died a few hours later Mrs. Williamson refused to make a statement and has remained secluded at thelr liitle Ozark home. C. M. Scanlon, a cousin, of Los An- | | geles, Callf.. who came here immedi- ately after the sheoting, said Williamson was considered wealthy. He owns prop- erty in Huntington, W. Va.. and has ex- tensive interests in San Diego, Calif Three years ago he elected to secluce himself in the Ozarks, away from friends and old associates. WALKER STAYS AT SIDE OF HIS ILL SECRETARY | Ex-Mayor Will Not Travel in Italy | Unless Aide Improves—S8ails i for U. 8. September 27. By the Associated Press. | NAPLES. Italy. Scptember 21—For- | mer Mayor James J. Walker of New York said today he would abandon any | vlans to travel in Italy, unless the con- | {dition of his secretary, George Collins, ! improves. | A physician said Collins, who con- | tracted an intestinal ailment during the | | voyage here from New York, was in a serious _condition and required absolute | Test. Unless he becomes better, he and ! the former mayor will remain here and sail for home on the new steamship | Rex. which begins its maiden voyage | on September 27. They will take the Rex in any event. The former mayor and his secretary arrived _ yesierday on the steamer | Conte Grande. Mr. Walker, who was making the trip to recover from ner- vous strain caused during tke hearing on ouster demands, which resulted in| ! his resignation as mayor, slept until nearly noon today. VANDERBILT KIN TO WED Harry Hays Morgan Gets License in Baltimoge. BALTIMORE. September 21 (A —A marriage license was issued yesterday at the court house here to Harry Hays Morgan, jr., of New York. brother of i Mrs. Reginald C. Vanderbilt, and Mrs. Edith G. Arnold, who earlier in the day reccived a divorce in Philadelphia from Paul Mitchell Arnold, a former Army captain ! The license gave the Belvedere Hotel 'as Morgan’s Baltimore address, but the clerk there said no Harry Hays Mor- gan was registered or had been regis- tered there. His age was given on the |license as 34 and Mrs. Arnold's as 32. 1”1t could not be learned where the couple were to be married. BROTHERS WAR AT GOLF | CHICAGO—Two brothers battled it out for the championship of the Illinois Golf Club, and the younger won. | They are the sons of Joshua Despo- sito, Chicago builder. | Julian Desposito took the 36 holes of | play from Joshua, jr, the defending champion. | WHERE QUALITY IS SUPREME Dresses Plain and Semi Fancy Men’s Suits Topcoats Ladies’ Fall Coats Plaim Light Weight - 85¢ Dry Cleaned Cash & Carry Those who like the best use Footer’s Service. WHY NOT YOU? SOTER'S Quality Cleaners d Dyers 1232 G St. N.W,, Phone Dist. 2343 3009 14th St. N.W. 1327 Conn. Ave., Phone Pot. 5870 262014 Conn, Ave, 514 H St. N.E. | listed by him as follows | $362.312.052 | adorned.” Hyde said, I D. C, WEDNESDAY, ' SEPTEMBER 21 District’s Heroes in the World War Complled by Sergt. L. E. Jaeckel. 8 recorded in the official citation, John H. Muncaster, major, 11th Infantry, 5th Division, Ameri- can Expeditionary Force, was awarded the Distinguished Bervice Cross for extraordinary heroism in actfon with the enemy near Cunel, France, October 14, 1918. After the loss @ <) commanders, Maj. Muncaster ad- vanced at the head | of his battalion, leading the men from a very disad- vantageous position | D to the capture of & | nearby hill held by the enemy. In the counter - attack Which followed he not only come manded the men of his battalion personally, but as- sisted in the de-| fense of the posi- tion and by his exemplary conduct so inspired his command that the objec- tive was carried and a high standard of morale prevailed among his troops. R-u‘l:denu at appointment, Washington, D.C. Maj. Muncaster is now retired and resides at the Army and Navy Club, Seventeenth and I streets northwest, Washington, D. C. (Copyright, 1932.) HOOVER FARM AID DEFENDED BY HYDE More Money Advanced to Ag- riculture Than R. F. C. to Industry, He Says. By the Associated Press. GRAND RAPIDS, Mich, September 21.—Secretary Hyde in a Republican campaign address here last night de- fended the- agricultural policies of the Hoover administration The administration, he said. “through Federal agencies has loaned more money to farmers than the Reconstruc- | tion Finance Corporation had loaned up to September 16 to all banks, all ra! roads and all corporations in America.” Sources of Loans. As Becretary of Agriculture. Hyde continued, he himself lent $121.620.344 to more than 900.000 individual farm- ers. Other sources of such loans were Intermediate Credit Banks, $611,138,912; Federal Land Bands, $103.216.600. Farm Board, exclusive of stabilization operations, : the Reconstruction Finance Corporation, $7,044,216 to farm credit organizatio “The tota of $1.205,332,124.” the Sec- retary said, “di not include $125.- 000,000 put up to strengthen Federal Land Banks so that they can give more time to distressed farmers. “It does not include a minimum of $36,000.000 put up by the Reconstruc- tion Finance Corporation to set up 12 agricultural credit corporaticns, with lending power of $300.000,000 more. to take the place of rural banks and rural credit machinery which has broken down.” Wilson Policy Scored. Turning to the tariff question. Secre- tary Hyde questioned the legal authority fcr foreign loans during the l2st Demo- cratic national administratiorv and de- clared that these loans, M his b lief. “have proven a greater barrier to inter- national trade than all the tariffs ever enacted.” “Remembering the disastrous conse- quences of international egreements negotiated by the Wilson administration. which G Roosevelt s> conspicuously shudder to think | of the consequences to America if the Democrats should be turned loose in Europe again. But even at that it would be less disastrous and less dangerous to America to let them negotiate on foreign debts than it would to open the markets of the United States to the competition | of the world.” FRUHAUF CLOTHES of all his company | 1932 EX-GOV. GOODRICH | SEES BETTERMENT Indiana Conditions Much Im- proved, Eastern G. 0. P. Headquarters Told. By the Associated Press. £ NEW YORK, September 21.—A report creasing agricultural prices, and a “better feeling among the farmers” of | Earl Rausch, 40, of Baertown, and | the Middle West was brought to Re-! publican Eastern headquarters yesterday | y former Gov. James F. Goodrich of | Indiana. “The situation in my section of the country is improving.” he said in L3 formal statement 3 ©of farm commodities—eggs. m, o corn, hogs—have increased from 40 to| 80 per cent in the last 60 days. We, are seeing the effect of advancing prices for farm products in a better feeling| | among the farmers. “Going Right Ahead.” “Bettér conditions are also noti¢eable among the merchants and business men. In fact, they sre doing as much busi- ness as they did & year ago in volume, although not in dollar total. ks HATS FOR FALL Quality as Always—at Today’s Economical Prices 5—7-10 Sidney West, Inc. “Feeling is headed in the Tight direc- tion. We are going right ahead.” In giving out his statement, the Hoover-Curtis campaign leaders listed | Goodrich as “a recognized authority on agricultural conditions in the Middle West.” A. L. Brockway, vice president of the New York State Agricultural Society igsued a statement criticizing Gov Roosevelt's farm adcress | Facts Held Misrepresented. “Why,” he asked, “does Gov. Roose- | velt stoop to deliberate misrepresenta- Ition of some facts and jgnore | others? * = * “Those of us who know him. who | have seen how he has attempted to capitalize in New York State the fact | that he inherited an estate at Hyde | Park which had belonged to his father | and his paternal grandfather, thus qualifying him as a farmer. are well | aware of the fact that he has capitalized this to the extent of enabling him to talk to farmers gs though he were one A RsAksiing “The farmers of this country should have it made cleat to them that this is a pose. His appeal is made to emo and passions and not to reason “When he talks to railroad m talks as though he had on over: his speech.” [ “INVALID” NOW 100 Health Was Too Poor in 1861 to Enlist. WAMPSVILLE, N. J—John who couldnt fight for his coun! 1861 because his health was “px was the guest of 57 relatives gath to help celebrate his 100th birthd: anniversary. Smith tried three times to enlist in the Union Army during the War Be- tween the States and each time was told that his health wasn't good enough. & ENGRAVED Business Statiomery will create just the im- pression of refinement and good taste you desire ... The difference in cost between engraved and printed letterheads, on the amount you re- quire may be negligible. . . . Look prosperous and BE prosperous. ‘BrewaD gyw., and fationes ©1-12th St. N.W. FOOT-JOY SHOES 14th & G Sts. N.W. UBENEC. GOTLT, Beesidon, FACTORY WORKER KILLS FOREMAN AND SELF Two Others Wounded When Man Charged Wiith Attempted Poison- ing Goes'on Rampage. By the Astociated Press. DQVER, Ohio, September 21.—Har- vey Harper, %4, factory worker, yester- day shot and killed hig. foreman, Hemer Kline, 32; injured two other men and then- killed himself. y (Harper had been charged with ‘at- tempting ‘to poison Kline and was re- leased on bond Monday night. Rush- ; ing into the plant of*the Dover Manu- | of improving business conditions, iNrfacturing Co, he fired six shots at| Stanley Belden, Cushing attorney, who ° Kline. Charles C. Maurer, 45, of Dover, as- sistant superintendent of the plant, were struck by stray bullets. Barricading himself In a company garage, Harper then reloaded” hiy gun and shot himself in the right temple. Both he and Kline, struck in the left side and left shoulder, died shortly after the shooting. OKLAHOMA SOCIALISTS 8)% OFFER 12 ELECTORS Board to Pass on Attempt to Get Name of Presidential Can- didate Before People. By the Associated Press. OKLAHOMA CITY, September 21.— Socialists today filed a siate of 12 candidates for presidential electors with Lme Oklahoma Election Board in an ,attempt to get the name of Norman |'Thomas, their party’s presidential | nominee, before the electorate. | secretary J. Willilam Cordell of the board accepted the applications from |sald he would present them to the board at its next meeting for a ruling on whether the names may go on the general election ballot. A petition asking recognition of the party was held sufficient two weeks ago by Secretary of State R. P. Sneed. but the opinion was expressed that no party candidates couid file before the 1934 primary elections, SS—— other suit made —is s Worsted-tex suits are worn by men tomed fo very fine clothes — docfors, law- yers, business men, college men who must. o — m _ i e AR A o s o 4 S This'great wit,worn by more men than any now reduced fo $30. - 1:1:13 same fine Worsted-tex sult that you * ond we have always known, that fits so its shape — ftless fmfi'erjng, exclusive