Evening Star Newspaper, January 10, 1933, Page 5

4~ ! —— U. 5. BASIS SOUND, - MITCHELL ASSERTS Capable of Providing Highest Living Standard Known, New York Banker Says. By the Associated Press. NEW YORK, January 10.—Expressing his belief that “the economic system of | the United States is essentially sound” | and that “the integrity of the atnndardi of value” should be maintained, Charles E. Mitchell, chairman of the National City Bank of New York, sounded today & moderately hopeful note at the annual| meeting of the bank’s shoreholders. | Mr. Mitchell stressed the present dis- location of foreign currencies, due to their renunciation of the gold standard, | and declared America should consider the entire problem in a spirit of co-| operation. 2 “Of vital importance to the progress PRESIDENT-ELECT AND S8’ of recovery in this country,” said he, “is the re-establishment of a staple re- lationship between the dollar and for- efgn currencies, thus relieving our price stricture from the most destructive of | all kinds of competition, namely, that | of depreciating currencies of competing nations. Co-operation Alternative. i “Bince it is neither practicable, nor | indeed thinkable, for the United States | to adopt either the course of attempt- ing to withdraw behind impenetrable | tariff walls, or that of entering upon & | competition in currency depreciation of which the end is zero for all, there re- mains only the alternative of co-opera- tion with foreign nations in the effort to remove such obstacles as may still | bar the way of their return to .a gold | basis. | “Above everything else this country | should avoid any action or decfaration of policy affecting the integrity of the standard of value which may renew | the uncertainty which existed upon that subject one year ago and which then had most unsettling effects. Any un- toward step of that character would increase the state of world confusion and render futile the hope of early in- ternational co-operation to the end Ww all countries desire.” chairman reported that the bank's stockholders increased about 9,000 last year to some 85,000, the largest total in the history of the institution. $463,616 Profit Shown. Notwithstanding the dullness of the | investment banking business, the Na-| tional City Co. showed a net operating | profit of $463,616. Mr. Mitchell pointed out that the danger of panic had been averted with | the return of currency to the banks and gold to the United States, and with the liquidation of a large body of short-term foreign investments “which has been an uncertain element for years” the country “is in stronger posi- tion in consequence.” He warned that the situation of the railroads was even more critical than a year ago and was a subject of Ynme importance to the American people. “Railroad credit,” he stated, “must be maintained and this requires that & roads shall regain a self-supporting “The economic system of the United Btates is essentially sound,” said Mr. Mitchell in conclusion, “the most efi- clent in the world, and capable of pro- viding a higher standard of living for the people than yet has been known in any country. Upon this point it is possible confidently to repeat the opinion offered here one year ago that until human nature is changed and peo- ple are satisfied with what they have there need be no fear of an end to the possibilities for growth and ex- pansion in production and distribution.” REDEMPTORIST COLLEGE CORNER STONE IS LAID Building to Be Erected at Catholic University at Estimated Cost of $300,000. i ‘The corper stone of the Redemptorist College building, now under construc- tion on a large site south of the Catho- lic University development in Brook- land, was set in place yesterday in the esence of a group of leading mem- s of the church and laity. The building, having a cost estimated at $300,000, will bring an important new development to the section and provide residence and study quarters Tor student priests of the Redemptorist order at the university. The building is being erected on a four-acre tract fronting on Seventh street northeast, between Hamlin and Jackson streets. ARTS CLUB TO CLOSE POSTER CONTEST HERE Final Entries for Event in Connec- tion With Coming Bal Boheme to Be Received Thursday. ‘Thursday will be the closing day for the poster contest being conducted by the Arts Club of Washington in con- nection with the coming Bal Boheme, it was announced today by Mrs. Alice L. L. Ferguson, artist-chairman of the con- test. First prize is $100. Any one is eligible to enter the con- test, it was explained, and the motif for the ball, “Castles in the Air,” offers wide scope for artistic treatment. The posters will be viewed Friday by the judges, Eleanor Parke Custis, Susan B. Chase, Frances Benjamin Johnston, Alice L. L. Ferguson and Clifford K. Berryman. UG SCHbOL WILL REOPEN Reoccupancy Expected Tomorrow. Closed Due to Main Break. Reoccupancy of the Alexander R. Shepherd School, at Fourteenth street and Kalmia road, is expected tomorrow by school authorities. The school was closed yesterday, when the water main leading to the building burst and in- undated the fire room with five feet of water, The mishap was almost identical with that at the new Hugh M. Brown, Jr., Junior High School last Winter. Both schools are new structures and the water mains leading to them were laid | in filled ground without tiers. As set- tling took place & strain was placed on the pipe line, one end of which was held stationary at the point at which it entered the scocol building walls. Both breaks occurred close to the school buildings CONFERS WITH MACHADO Guggenheim Discusses Unrevealed | Topic With Cuban President. HAVANA, January 10 (®).—United Btates Ambassador Harry Guggenheim called at the palace yesterday and con- ferred at some length with President Machado. The embassy did not dis- elose the topics of their conversation. It was recalled that Mr. Guggenheim, #cting unofficially last week, requested guarantees for Angel Alvarez shortly before the former Havana University student, arrested for alleged terrorism, was shot to death by police, who claimed he sought to escape. After Alvarez's Secretary of State in the Hoover cabinet, pictured during their conference | at the Roosevelt home in Hyde PRE’SIDENT-ELECT FRANKLIN D. ROOSEVELT and Henry L. Stimson, | men who were received in the dining room of the Hyde Park home that | “everything in relation to foreign affairs” was discussed, Mr. Roosevelt would go into no details. Discussed Foreign THE EVENING STAR, WASHINGTON, D. C., TUESDAY, JANUARY 10, 1933. Affairs TIMSON IN CONFERENCE. Park, N. Y. Beyond telling newspaper | —A. P. Photo JOBLESS HOUSING INMALL PROPOSED Stanton Park Citizens Also| Urge Parking Lots Be Operated for Relief. Recommendations that vacant Federal buildings in the Mall area be turned over for the use of the unemployed, and that all Federal and District owned parking lots be operated by a relief agency for the benefit of the destitute, were made to the Federation of Citi- zens’ Association last night in resolu- tions adopted by the Stanton Park Citi- zens' Association. Both plans were advanced by A. H. | Gregory, a delegate to the federation from the Stanton Park Association. Would Abrogate Leases. ‘The parking lot plan would require that the Federal and District govern- ments abrogate or refuse to renew leases with concessionaires and turn the lots over to a relief agency gratis, all pro- ceeds to go toward the support of needy ‘Washington families. An immediate study of this plan was urged by the | association. ‘The housing plan contemplates turn- ing over to the Board of Public Wel- fare the temporary Government build- ings in the Mall area in the vicinity of Sixth and B streets, now vacant, but equipped with heat, light, etc., to be used by the board for sheltering homeless, destitute families. This would cause the Government little or no in- convenience, it was pointed out, since the buildings are to be razed to make way for the Mall parkway, a project which can be delayed temporarily. Gregory, discussing the parking con- cession plan, told the association one operator alone pays the Government $1,000 a month rental and earns a clear profit of from $600 to $800. All this might be turned over for relief pur- poses, along with the profits of many other similar concessions. Stull Fears Moral Risk. ‘The housing proposition at first met with some opposition from Henry Stull, might attend the housing of many families of different moral standing in one building. He withdrew his ob- jection, however, when it was pointed out the good to be accomplished prob- ably would offset any danger in the plan. “We are all anxious to get rid of these unsightly old buildings,” said Gregory, “but why should we tear them down when people are homeless, especially in view of the fact they are heated, lighted and acceptable from the standpoint of sanitation. This is not a permanent proposition, it is an emergengy.” Also, he argued, the Board of Public Welfare might divert into other chan- nels the money it now spends for rents, if the destitute were sent to the Gov- ernment building “homes.” Gregory said his plans would require greater study, but that in their pre- liminary stages, already had been ap- proved by the relief agencies. SOPRANOS FEATURED IN OPERA ON JAN. 22 Lola Monti Gorsey and Ruth Peter to Appear in Auditorium “Double Bill.” Two sopranos will make their first operatic appearance in the Capital Sunday night, January 22, in connection | with the presentation in the Auditor- jum of Mascagni's “Cavalleria Rusti- cana” and Leoncavallo’s “Pagliacci. The presentation will be under the di- rection of Maestro Alfredo Salmaggi, formerly of New York and Chicago grand operas. Lola Monti Gorsey, Russian dramatic soprano, who has sung opera in seven languages, and Ruth Peter, lyric so- prano, a Washington girl who went to Italy five years ago to study opera under distinguished foreign masters, will be featured on this “double bill.” Artists who will appear in the male roles include Ralph Errolle, singing the tenor role of Turiddu; Luigi Bonelli, the baritone role of Alfio in “Cavalleria Rusticana,” and the well known bari- tone, Pasquale Amato, singing Tonio in “Pagliacci,” with Giuseppe Radaelli, dramatic tenor, in the role of Canio. Supporting artists will include Doro- thy Seegar, Lea Silva, Giuseppe Bruno, | a general alarm. | and the time the assaults were planned. Ludovico Oliviero, and a full chorus under the direction of Gabrielo| who expresed the belief a moral risk Simeoni. SPANISH UPRISING BELIEVED CHECKED Extra Precautions Taken in Seville, Barcelona, Cadiz and Madrid, However. By the Associated Press. MADRID, January 10.—An official report indicated today that nmum:-1 neous Extremist uprisings thmughoucl Spain against the Republican govern-| ment apparently have collapsed. Authorities, however, were ukingl extra precautions in Seville, Barce- | lona, Cadiz and Madrid to prevent the| movement from spreading to nllrold." mine and metallurgical ~ workers, who thus far have had no part in thei uprising. . Unofficial estimates listed 38 Dersuns‘ as killed and more than 100 wounded | in the battles which began Sunday. They were centered mainly in attempts | to take over police and army quarters in various cities and towns. A definite check of the number | slain was impossible, since many of | those gravely wounded in street gun| battles were taken to their homes, where | some presumably died, and relatives, | fearing punishment, withheld the infor- | mation. Authorities Tipped Off. Apparently the movement was aimed especially as an assault upon the mili- tary barracks for the purpose of seizing arms. Plans apparently were set in ad- vance to be carried out Sunday while soldlers were allowed their Sabbath day walk. Occasional isolated gun battles in the streets were believed aimed as The planned assaults on the Caba- zanas and San Augustin Barracks in Barcelona and the Castillo, La Panera and Cara Banchel Barracks in Madrid failed because the authorities pre- viously learned confidentially the day At least seven persons were killed in | Barcelona, where fighting occurred in front of the palace of justice and the railroad terminal. A battle lasting until late last night in Bugarra, in the Province of Valen- cia, between a large force of Commu- nists and civil guards, ended with three guards slain before order was restored. Ten rebels and two members of the guard_were reported killed in Pedralba, near Bugarra, earlier in the day. The fighting in Lerida, capital of that Province of Catalonia, was reported to have taken seven lives. Deaths were placed at five in the city of Valencia. Communists won a temporary vic- tory in Bugarra, but were ousted when reinforcements reached the scene. Two bombs were found in the opera that the rate of interest does not change thro out the period loan. May be purchased in amounts from $250 up. B. F. SAUL Co. National 2100 925 15th 8t. N.W. house in Madrid. Otherwise the capital was generally quiet after Sunday's short-lived attacks on the barracks. poll?u'pnuzhzs from Seville mud ice expected syndicalists to declare a general n.rlum Railroad workers held a meeting there but did not discuss im- portant matters because police were present in the hall. Cavalry troops and civil guards were sent to the railroad station in many cities to take charge and prevent any attempt to spread srike pmm:nm Hundreds of arrests have been e since the rioting began and large stocks of bombs and firearms have been seized. All sydicalists and anarchist headquar- ters have been closed. HUNT TRAMMELL YOUTH ‘Washington Police Seek Son of Smelting Firm Official. Washington police have broadcast a lookout for Thomas W. Trammell, 18, son of Walker L. Trammell, vice-pres- ident of the American Smelting and Refining Co., New York. ‘Young Trammell is said to have left a preparatory school at Lawrenceville, | in connection with the sale of Kreuger | N. J., yesterday, and was believed to be attempting a hitch-hike to Florida. ‘The boy is described as 5 feet, 11 inches tall; and weighing 145 pounds. RICHARD YATES BETTER Representative Recovering After Foot Injury. The condition of Representative Richard Yates of Illinois, whose right foot was crushed several days ago when a chest fell on it, was reported today as improving. He is confined to his apartment. Mrs. Yates said several bones had been oroken in the front of the foot, but that he would be able to resume his duties within 10 days. Yates, & former Governor of Illinois. is Representative at large from that State. *I'm sorry, Mrs. Blanc, we will not see you at tie Palm Beach Masqu- erade Friday because I hear you are to pour at Helen Brown’s tea on Thursday. “Oh, yes, I shall be at the Ball. I'm leaving on the fast Florida Special’ at 7:45 Thursday night arriving in time for dinner at Palm Beach Friday evening.” ‘WASHINGTON PALM BEACH MIAMI , 5 5 o &3 "7 FELORIDA SPECIAL 22} NOURS TO PALM BEACH; 24 TO MIAMI Via The Double Track—Sea Level Route Geo.P.James,G.P.A.1418 “H" St.,N.W. Washiigton. Tel. Nat. 7835 ATIANTIC COAST LINE The Standerd Railread of the South COOPER 70 CONDUCT }Senate Committee Decides to | Employ Seabury Com- mittee Counsel. By the Associated Press. | its investigation into the New York Stock Market tomeorrow, the Senate Banking Committee decided today to | employ Trving Ben Cooper of New York, associate counsel of the Seabury | investigation, to conduct the inquiry. | The committee resumes its investi- | gation tomorrow with a public hearing and T- securities in this country. | Cheirmen Norbeck announced that| | four witnesses, in addition to the four | already called, have been summoned | for tomorrow. Four Others Called. They are: Dr. Max Winkler, associate profesor of economics of the College of the City of New York; A. D. Birning of the firm of Ernst & Ernst, auditors of the International Match Corporation for Lee Higginson & Co.; G. O. May, senfor partner of Price, Waterhouse & Co., auditors, and Gilmer Siler, partner |in the brokerage firm of Eastman-Dil- lon & Co. Witnestes already announced for the investigation are: Roland L. Redmond, | counsel for the New York Stock Ex- | change; Allen Lindley, chairman of the Committee on Business Conduct of the ! New York Stock Exchange; Donald oo oo Lv.745P. M. 4 o0 An6OOP. M. 440 An T45PM. STOCK MART PROBE, Clearing the way for resumption of * A—S ‘Durmt of Lee Higginson & Co., and ) Prank Altschul, chairman of the Stock | List Committee of the Stock Exchange. | Purpose Is Announced. | Norbeck has announced the purpose of the hearing tomorrow is to “find out |to what extent the American investor | has been played for a sucker by Eu- | Topean promoters, with the help of American bankers and the stock ex- change.” Employment of Cooper as counsel to conduct the committee's future inquiry was unanimously agreed upon today at i a meeting of the Steering Committee in charge of the investigation. ! As counsel for the committee, Cooper will succeed William 8. Gray, who con- ducted the inquiry at the last session of Congress. Robbed ° Twice—Loses 3 Cents. WILMINGTON, N. C. (#).—The| Wooten brothers, Albert and Kenneth, were the victims of robbers twice in| two days, but were only 3 cents losers. | First a Negro held up their nsolmc‘ station, but Kenneth flashed a gun and | | the bandit ran, droppi the cash and 55 cents of his own. e next night two youths robbed the station of 58 |Ride Me now appearing at Loew's Fox— will be atop the oldtime Band- wagon carrying “Me and the . Budget Bunch” down the Pennsylvania avenue of yes- terday—Listen in—WMAL at 7:30 Tonite—to Mem- ories of the Laughter f ¥ and Tears of a by-gone " Dny—a half-hour that will Pull at the old Heartstrings. 1005 Penn. Ave. “I'm glad we Looked at All Three”” A CERTIFIED INTERVIEW WITH EDWARD TRUMBULL (ARTIST), 166 EAST 38th STREET, NEW YORK CITY “That suggestion of Plymouth’s So I went around and looked at the other two low-priced cars with my wife and son.” “Look at All Three" as & sporting proposition. “My wife just couldn’t stay out of the car. She got a big thrill getting behind the wheel: After taking it out on the road, we both agreed that Floating Power sure is smooth” WITH FLOATING POWER PLYMOUTH SIX ‘495 *“Every time we go out, we like it better and better: It’s certainly a good-looking car; And it uses hardly any gas at all: Yes, sir, I'm glad we ‘looked at All Three.” “Then we saw the new Plymouth up at a Broadway salésroom: As an artist, the firss thing I noticed, naturally, was the design! I take my hat off to the men who created it!” WILL ADDRESS DENTISTS Capitol Clinie Club Head to Speak at Meeting Tonight. Capliol Chinte. Chibe il spesk m'm ap! ic Club, t at a meeting of the District Dental ciety at the George Washington Uni- versity Medical School. He will discuss “Nutrition Treatment in Alveolar Bone Regeneration.” Dr. Charles D. Cole, vresident of the Dental Soclety, will preside. Other speakers will be Dr. Leo W. Solbach, Dr. H. DeC. Adams, Dr. Sam- uel Bogdonoff, Comdr. H. E. Harvey, U. 8. N, of the Norfolk Naval Hospital, E:r'znouth, Va, and Dr. Sherman L. v —_— Takoma P.-T. A. to Meet. TAKOMA PARK, Md, Jam 10 (Special) —Cothmunity singing be one of the features of the meeting to- morrow night at 8 o'clock of the 0- ma-Silver Spring High School Parent- Teacher Association. President Ellis E. Ence will preside. The various courses provided for the remainder of the school year will be explained in detail by Pr:r.|E M. Dovglas, principal of the school. mory’s Bandwagon BRITT WOOD, harmonica stylist, D. J. KAUFMAN, mc 1744 Penn. Ave. 14th & Eye Sts, “If you ask me, 3 Plymouth is next Numbe America’s r One Car” TALK to any Plymouth owner! Ask him why he bought his car, and how helikesit! You'll find the same enthusiasm viction that Plymouth Edward Trumbull’s everywhere you go. The same honest con- offers most for the money in the low-priced field. case is typical of thousands. Like the rest of us, he wanted to be sure of getting his money’s worth. That'swhy LookatAll Three”appealed to him. It sounded fair. So he looked, studied,compared,and boughta Plymouth. Word-of-mouth is the strongest kind of advertising. Happy owners are an auto- mobile’s best salesmen. And Plymouth owners are happy! Talk to Plymouth owners about Float- ing Power engine mountings! Ask them aboutHydraulicBrakes:::a 70 h. p.engine «« . & safety-steel body! And then ask a dealer for a Floating Powerride! You won't be pressed to buy! NEW PRICES—4-DOOR SEDAN NOW $90 LESS 4-Door Sedan $545, Convertible Coupe $565, Rumble Seat Coupe $525, Business Coupe $495, all prices f. 0. b. factory. Convenient terms. Low delivered prices. Optional, automatic clutch $8. AND UP F.O.B. FACTORY - SOLD BY 7,232 DESOTO, DODGE AND CHRYSLER DEALERS