Evening Star Newspaper, March 4, 1933, Page 2

EARLY U.S. AGTION PLANNED N BANKS New York and lllinois Declare Holidays—Only Four States Unrestricted. (Continued From t Page.) Connecticut took similar action, bring- ing to 43 the list of States in which restrictions on withdrawals are opera- tive in some form or another. Only Montana, Colorado, North Da- kota and South Carolina remained without restrictions at noon today. Delaware's banks were open, but the State Legislature has already taken emergency action. These developments had brought from Representative Rainey, the next Spe: of the House, the prediction that “an extra session of Congress will be called at the earliest pcssible time.” He sald he felt that early next week, possibly Tuesday, would not be too soon, Pre- viously Rainey had told House mem- bers-elect to remain in Washington. Others at the Capitol said the session probably would begin Wednesday. ‘The Federal Rescrve Bank of New York was closed with all other bank- ing institutions of that State. The Federal Reserve Bank at Philadelphia also closed, under a holiday declared throughout Pennsylvania by Gov. Pin- chot. Later in the day the Minne- apolis Federal Reserve Bank suspended business. The closing of the New York Federal Reserve Bank meant the tying up of its huge gold reserve for the period of the holiday against withdrawal by either domestic or foreign agencies. In discussing the banking relief pro- gram, Senator Robinson said: “We do not, know just when it will be completed, but it will be expedited all possible. The details can not be announced right now but you may be assured there will be no delay.” Wagner Plans Action, Previously Senator Wagner, Demo- crat, of New York, had told newspaper men he would carry immediately to Democratic leaders an appeal for imme- diate emergency banking moves. In- formed at his hotel here of banking moratoria in New' York and Illinois. Wagner said he would appeal this morn- ing to Democratic leaders to begin ing out a program and some time | this afternoon would call on Mr. Roose- | velt with the same objective. i A bank holiday, he said, “is the only | thing to do” to meet the emergency ' of the banks themselves, but he added quick steps are necessary to enable | them to reopen and continue opera- | tions. vey Couch, Democratic member of | the Reconstruction Finance Corpora- tion, was the first White House caller this’ morning. He said after a brief | conference with President Hoover he | had discussed “matters incident to the | banking situation,” but declined to give | details. | Couch conferred last night with President-elect Roosevelt. Officials in Conferences. | High officials both of the outgoing | Republican and incoming Democratic | administrations _were in _conference most of the night. Secretary of the Treasury Mills said afterward the Hoover administration would have no Statement, but that governors of the Federal Reserve banks in Chicago and New York would have announcements. Demands Impossible. The hours between midnight and dawn saw banking officials in many States struggling with the problem, made acute by the flurrying of nervous- ness on the part of depdsitors. As a statement by the New York Clearing House Committee put it: “The unthinking attempt of the pub- lic to convert over $40,000,000,000 of deposits into currency at one time is, on its face, impossibl=.” The ctatément added that the condi- tion clearing house banks is such that “they could, through the facilities of the Federzl Reserve Bank, pay on de- mand every dollar_of their deposits,” but that withdrawals throughout the country as a whole have increased so that a “halt” is necessary “to_enable the proper suthorities to consider and Street Car Rider Tries to Deposit Five-Cent Check By the Assoclated Press. | SAN FRANCISCO, March 4.— California’s bank holiday has re- sulted in most business being conducted by check, but a street car motorman succeeded yester- day in mlpu&‘ one tnnn:;:ua; He stopped & prospective fare who attempted to deposit a check for 5 cents in the box and stood his ground until the passenger produced a nickel. VISITORS TIED-UP LAY BAN ON CHECKS Telegraph Offices Limit Sums Wired for, as Hotels Bar Out-of-Town Drafts. I :ndreds of inaugural visitors who came here with expectation of having their out-of-town bank checks honored by Washington hotels today seemed about to be stranded following the cere- monies. Many rushed to telegraph offices in the District to have money wired them from their home cities, but at noon, the Western Union and Postal offices were informing money order applicants that they would cash no draft higher than $25. “The demand for money back home from inaugural visitors was too great for us,” a Western -Union official ex- plained, “and we were forced to curtail the payment.” ‘This action followed a decision by the Hotel Association of Washington to ac- cept no out-of-town checks from patrons pending adjustment of the Nation-wide financial situation. Patrons Given Information. Copies of the resolution were made available to all patrons prior to regis- tering. “Members of the Hotel Association of Washington,” the resolution reads, “find it necessary, due to the unset- tled banking condition throughout the country, that checks on all out-of-town gnxs ‘cannot be accepted by its mem- TS, “We recommend that guests arrange to have money wired them or have ex- press or postal money orders, each of which will be accepted by the hotel.” Patrons Good Natured. The managements of the Willard, Mayflower, Raleigh, Harrington and cther leading hotels said the patrons were accepting the check refusals good- naturedly. They said they had at tempted to forewarn the patrons befol permitting them to register. All-year- round putrons and all friends of the hotels, who come here periodically were being taken care of by the manage- ment. While their checks were not be- ing honored, payment for their rooms was being delayed until the general sit- uation has eased, it was said. CAPITAL CLOTHED IN CARNIVAL MOOD (Continued From First Page.) on the traffic and parking in an area of several square miles encompassin the section into which hundreds o thousands are pouring today to view the traditional manifestation of Amer- ica’s welcome to its Presidents. | Parade Forms Near Capitol. The formation near. the Capitol un- wound into the line of march column after column of marching soldiers, sailors, Marines, Coast Guards, organ- ized reserves, members of the R. O. T. | C. and high schcol cadets, their ranks adopt remedies to meet this situation, not for New York primarily, but for the Nation as a whole.” | Only a fow States remained today in | which restrictions cn withdrawals had | not been invoked. No Holiday in Virginia. In Virginia, Gov. Pollard seid no general banking holidays would be de- | clared because the State’s laws already | protect the banks and their depositors. | In Maryland, the General Assembly early today epproved the emergency banking legislation without a dissenting | vote in either House. Gov. Ritchie | signed it this morning, but said that the | banking institutions of the State will | not reopenn Monday. The resources of the Reconstruction Pinance Corporaticn earlier had been | made available to hard-pressed, but | solvent banks in States that have | imposed moratoria on withdrawals. This was one of a number of de- velopments yesterday that included introduction ~of legislation to allow postal savings checking accounts and | to confer upon the incoming admin- jstration sweeping authority to main- tain the security of deposits. Reconstruction Corporation officials | said their policy called for lending in-| stitutions—if the loans were well| securec—enough money to pay chei percentage of deposits that could he withdrawn, provided the banks did not bave the funds immediately available. It was emphasized this was not a new departure, but was simply the ap- plication of regulations decided upcn for individual instances in the past to a ation spread into a number of States. Pinchot's Statement. Gov. Pinchot of Pennsylvania here| for the inauguration issued the follow- | ing statement: “Because cf the declaration of a bank holiday in New York, Illinois and most | of the other States, similar action in | Pennsylva has bscome unavoidable. | “Were our banks to remain open, the | demands upon them would impose an impossible burden, “Therefore, upon specific recom-| mendation of Gov. Norris of the Phila- delphia Federal Reserve Bank, I hereby declare a bank holiday throughout Pennsylvania on Saturady, March 4, 1933, and Monday, March 6, 1933.” Exchange Statement. A statement issued by the Govern- ing Committec or the New York Stock Exchenge sald: “The Governing Committee at a meeting held this morning in order tol C give full effect to the banking holiday declared by the Governor of the State of New York directed: | “First, that the exchange be closed | during such holiday; “ “Second, that members and firms | registered on the exchange b2 pro- hibited from making any contracts for the purchase or sele or the borrowing | or lending of any securities, and also | from permitting their offices or facili- ties to be used for the purpose of mi ing or carrying out any such contracts; “Third, that all deliveries be suspend- ed on all member contracts, except on such contracts as may be cleared by or settled through the Stock Clearing Corporation, and that in such cases deliveries shall b2 made as the Stock Clearing Corporation shall direct. “All members are directed to give full effect to the legal holiday declared by the State of New York.” Governors of the New York Curb Ex- change, the New York Metal Mining Exchange, the National Metal Exchange, the New York Coffee and Sugar Ex: change, the Cotton Exchange and the Rt Exchange also v . | fourth divisions of the parade which " | Tribe of Oklahoma, and including in punctuated by bands at equally spaced intervyals. Then, in equally colorful array, came the Governors of the States and their | staffs, brought here from the four cor-| ‘schoals nearby, completed the first di-| | the Chief Executive of them all and to | vision. ners of the country to pay tribute to confer on Monday on the serious subject of lifting the country out of the rut of the depression into which it fallen. Following the Governors were those who actually cast their votes in the last election which swept Mr. Roosevelt into office—the electors, who for the first time in history are a part of an inaugu- ral parade. Upward of 300 of thesc men who received the votes of the populace and passed them on to the successful candidates are to be in the line of march. They form the final sec- tion of the third division, punctuated by bands sent to participate in the Nation's greatest pageant from all over the length and breadth of the land. Color in Two Divisions. The real color came in the third and follow. The first two divisions were formed after the traditional lines of other inaugural parades, but the officials who formed this last e to be held on March 4, allowed a lot of latitude in the composition of the last two sections and es a result they represented a cross-section of patriotic and political American life, with the third division being formed from the membership of veterans’ and fraternal organizations re- cruited from throughout the country, comprising a varied array of uniforms of drum and bugle corps, organizations of veterans of every war the country has fought within the past 70 years, and with the spirit of the fraternal or- ganizaticns of the country exemplified in the outpouring of their representa- tives in the colorful attire of their orders to splash still another contrast into the ln?exdoscope of the inaugural parade. The fourth division of the parade was made up chiefly of the political marching clubs of the East and Middle interspersed with bands and triotic crganizations. WLeMHng this group were the silk- hatted, frock-coated braves of Tammany Hall, led by real braves of the Cherokee their number Alfred E. Smith, defeated Democratic standard bearer in the Presidential campaign of 1928. Mighty Air Parade. With the parade along the Avenue ame also a mighty air parade, with the glant Navy dingihle Akrcn, the Army dirigible TC-71, and 105 Army and Marine planes from Langley Field and Quantico. The planes, under the leadership of the air marshal, Maj. Gen. B. D. Fculois, chief of the Army Air Corps, gathered over Alexandria in time to form in parade order and fly, with the hcad of the parade, over the Court cf_Honor. In the first column of marchers to pess in review, with Gen. McArthur, was his staff, headed by Brig. Gen. Perry L. Miles, commander of the 16th Brigade. The staff included repre- sentatives of the United States Army, the Navy, the Marine Corpe, the Coast Guard, the National Guard and the R. O, T. C. from Georgstown University. ‘They were mountxd and the parade | representatives of the armed forces cf by Maj. Gen. Paul B. Malone, com- mander of the 3rd Corps Area, with his chief of staff, Col. Charles M the Nation came bchind them, led | g BANK BILL FORD.C. SIGNED BY HOOVER Controller May Rule to Limit Withdrawals to Safeguard Depositors, if Necessary. President Hoover today signed the Copeland-Steagall resolution authoriz- ing the controller of the carrency to make rules. governing the receipt and withdrawal of bank depos'ts in the Dis- trict of Columbia’s banks and trust companies. This authorization is in no wise mandatory. but can be teken whenever the controller is of the opinion such action would be in the interest of de- positors and creditors of District banks. The controller is given this special authority for a period of six months, but under the terms of the act the President has the power to extend the authority an additional six months. The resolution was passed by both Houses of Congress yesterday shortly after it was introduced by Senator Copeland, Democrat, of New York. Situation Explained. Leaders in the banking business here pointed out that in view of the ap- proaching adjournment of Congress it was considered by the leaders of the Senate and the House, and by the Sec- retary of the Treasury and the con- | troller of the currency, that the Dis- trict of Columbia should not be left without any law enabling United States Treasury officials to prescribe nesdful | regulations for the protection of de- | positors. Before Congress acted yester- | day, 33 States had adopted laws under | which withdrawals of deposits are be- | ing restricted temporarily. There was no authority vested in any officer of the Federal Government to take any action regulating deposit withdrawals until Congress passed the Copeland-Steagall resolution. The terms of the law | are very . The controller of | the ‘curtency is to make regulations only so far as necessary and he may apply them to some banks and not to others if in his discretion he deems that action wise. The opinion was prevalent in banking and business circles that banking con- ditions throughout the District have been greatly strengthened by it. Text of Resolution. The text of the resolution follows: “Resolved, by the Senate and House of Representatives of the United States of America in Congress assembled, “That, with the approval of the Secretary of the Treasury, the con- troller of the currency, whenever he is of the opinion that such action is necessary for the protecton of the in- terests of the depositors and other crecitors of any incorporated bank and (or) trust company doing business in the District of Co.umbia, and that cuch action is in the public interest, is hereby authorized and empowered to prescribe such rules and regulations as he deems advisable governing the recelpt and withdrawal of deposits by and from any such bank and trust company, which rules and regulations shall be binding upon said banks and trust companies. “That, it shall be lawful for any in- corporated bank and trust company in said District to comply with such rules and regulations promulgated by the controller of the currency. “Nothing herein shall be construed to impair any power otherwise possessed by the controller of the currency, the Secretary of the Treasury or the Federal Reserve Board. . “That all powers herein conferred shall terminate six months from the approval of this joint resolution by the President of the United States, but he may extend the force of the provisions hereof by proclamation for an addi- tional six months. ““This resolution is hereby declared to be an emergency law necessary for the immediate preservation of the public peace, health and safety.” | Woodin, Secretary of the Treasury- designate of the Roosevelt cabinet, as it passes in review before the Court of Honor. Then came in close columns the soldiers, Guards, the Organized Reserves, th: crack units of the National Guard, such as the Richmond Blues, and the Sedg- wick Guards of Waterbury, Conn. ‘Washington's own high school cadets, 2,000 strong, and the tadet corps of | The scene then changes to the for- mal attire and sleek cars of thz Gov- | enors of the States and the electors, | who, their ranks interspersed with | bands, formed the second division ypnder | the leadership of My. Roosevelt’s cam- paign manager and Postmaster Gen- eral-designate, James A. Farley. His | chief of staq was Col. A. L. Singleton. |~ Flashing with coigr, including the brilliant uniforms of the American Le- gion and other veteran organizations, was the third division, led by Louis A. Johnson, national commander of the Legion, and his chief of staff, Maj. W. R. Gruber, and a staff including representatives of veterans and pa- triotic organizations. Former Fighters March. Spanish-American and World Wars, zations. The fourth division, under the lead- ership of Col. Robert N. Harper, with his chief of staff, Maj. George S. Pat- ton, presented in the front rank a Sicux Indian Drum and Bugle Corps from the Standing Rock Reservation in North Dakota. Behind the Indians come the white braves of Tammany Hall, tesplendent in their top hats and cut- aways and including in their number the Democratic standard bearer of 1928, (ormed r Gov, Smith, a sachem of the order. Following the Tammany braves come bonds and marching clubs from through- out the East and Middle West, floats of movie stars, more veterans and many bands. In this division also was the 47- foot model of the frigate U. S. 8. Con- stitution on a great float and manned by Sea Scouts. Stage Set at Capitol. The stage was all set at the Capitol at_10 o'clock. Workmen had completed the finish- ing touches cn the glistening white stands where Mr. Rocsevelt will take the oath of office. Radio technicians and important-appearing anncuncers dashed excitedly about, making last- trol panels. Movie cameramen, a dozen or more of them, their machines all set for action, waited impatiently for de- velopments. Msrines by the score, with uniforms neat’y pressed, stood on guard at every turn. Metropolitan and Capitol police officers, augmented by a few of New York’s best, who were imported for the inaug , were gathered in small groups awaliing the great mass of hu- a-nulfnty that socn is to swarm to Capitol Several thousand early comers were already on the scene. me se- lected the vantage points in the Capi- tol grounds facing the east plaza. Others were lined close against taut cables at the curb. Barricades were set up all around the Capitol grounds, shunting off traffic, ped: as well as vehicular No vehicles were allowed to enter the grounds and pedestriens had only a few uncb:tructed entrances. Those who ot were not allowed to enter the Capitol Building withcut spzcial Bundel, 2nd the staff of Army aides. sailors, Marines and Coast | R. O. T. C. and the specially uniformed | Boy Scouts and many fraternal o'rzlni-K | | Senate Passage Today Expected minute tests on microphenes and con- | Posi BANKING HOLIDAY MAY BE CONTINUED Gov. Ritchie Believes Reopen- ing Impossible Monday as He Signs Bill. By a Staff Correspondent of The Star. ANNAPOLIS, Md.,, March 4.—As he signed the emergency banking bill giving the State bank ‘commissioner authorty to manage all of Maryland's banks, Gov. Ritchie today sald he did not think it would be possible to open the banks cn Monday. “I believe it will take more than a day and a half to prepare the necessary regulations under which the banks wiil be opened.” the executive said, but would not state definitely when he ex- pected to complete plans so that the banks could again transact business. It was pointed out here that it would probably take at least one day, after the plans are perfected, to publish them so that the public would thoroughly familiar with the restric- tions under which the banks function. Cov. Ritchie came to Wi attend the inaugural m"’é'&‘fl‘”fi said he would hurry back to Baltimore as soon as President Roosevelt delivers his inaugural address. Mr, Ritchie, together with the bank commissioner and representatives of the clearing house, will confer this afternoon. Acting under a suspension of the rules, the House of Delegates ear! today passed the emergency bill, wif eamendments which were quickly con- curred in by the Senate, and the measure made ready for the Governor's signature. Bankers Confer. While the legislators toiled over the terms of the emergency bill, a series of bankers’ conferences were held in Baltimore, from which came unofficial reports that withdrawals would be limited from 2 to 5 per cent a week, with a minimum of $5 and & maximum of $25 on savings deposits, when the banks reopen. This plan is subject to change, but it is generally agreed that uniform restrictions would be enforced throu’hnut the State at least for the g:s:“ ew days after the holiday termi- When a definite plan has been agreed :]:r::fis Gov. Ritchie will announce its GhAu!ngfxer said, e T nine hours of continuous de- liberation, the House Ways and )(e:;l and Judiciary Committees reported emergency bank bill favorably with emendments shortly before midnight last night. Before packed galleries, the clerk major one voted by the committees. Most of them corrected printer's errors in the original bill, but cne gave the bank commissioner, in addition to the other sweeping powers, jurisdiction over all salaries and expenses of the institu- tions, thus permitting him to cut bank employes’ pay. Loan Companies Included. The House also passed the bill limit- | ing withdrawals from building and loan associations to the same rate established for banks, and after the Senate had quickly concurred in the) amendments to the bank bill, both branches of the General Assembly wrote finis to one of the most hectic legislative weeks in the history of the State by adjournirg until Monday night. Not until the bill has been made a law can the controller of currency, acting under the Couzens resolution, order national banks in Maryland to abide by it. officlals said here. As soon as the bill hase been signed today, ccpies will be reushed to Washington | and referred by the controller to the Attorney General. If the measure meets | his approval, the controller will direct national banks to abide by its pro- visions. Received by the House about 1 p.m. yesterday, after having passed the Senate unanimously, the bill was im- | mediately referred to the two commit- tees and the House recessed to await | their action. Maj. E. Brooke Lee, At- torney General W. Preston Lane and | others then explained the measure to the committee. After some of its pro- | visions had been attacked by a few | Baltimcre bankers, the committees con- vened in an executive session which lasted four hours. Governor Given Absolute Power. The date of the expiration of the State control provided in the law was the most uncertain thing about the act. It was written in the bill that its terms would have affect for one year and could | be_extended for another twelve-month period, but an amendment attached by the Senate gave to the Governor abso- lute power to suspend its workings at any time This was written in, it was explained, to enable the State to abandon its own plan and participate in any Federal aid system which may be enacted by Congress. This was decided upon be- cause of the conferences on this sub- ject between President Hoover _and President-elect Roosevelt. ; | ARKANSAS PLANS The veteran organizations included the | men who fought in the Indian, Civil, | 90-DAY DEBT STAY as Offset to Banking Holiday. By the Associated Press. LITTLE ROCK, Ark., March 4.—Al- though its constitutionality was ques- tioned, Senate leaders predicted passage today of the House bill providing for a 90-day State-wide moratorium on all kinds of debts—public, private and pay- ment of taxes. The bill, which would take from courts thelr jurisdiction to enforce col- lections during the debt holiday, the House yesterday without a di it- ing vote. Sponsors ted out finan- cial relief would afforded even though the bill is held unconstitutional, as a test could not be taken to the Supreme Court in less than 90 days. The measure was introduced to af- ford relief as an offset to the order by the State banking commissioner allow- ing banks to restrict withdrawals on de- ts. ‘Those who defend the bill's constitu- tionality contend it will stand a court test inasmuch es it grants equal privi- l2ges to all persons. One section of the bill says: out their deposits upon check is nothing more thah an obligation to pay a debt, ond it is unfair to grant immunities to one “c!u: without granting immunities to all.” The bill provides no forfeitures shall be declared by any person, firm or cor- poration, and that no life insurance y shall declare any contract for- or void mrwnnotnnurew remiums during the 90-day PeFor violation of its provisions the bill would remove a court official and can- cel a corporation’s charter. where the doplomatic corps, net, members of Congress an igh Government officials will be seated, the | read 20 minor amendments and one | 7 I, i "y f i i# "h THOUSANDS THRONG NEW YORK HOLIDAY NATIONAL IN SCOPE Financial Leaders Declare They Expect a Quick Re- turn to Normalcy. By the Associated Press. NEW YORK, March 4—With the likely to be national in effect, leaders of this giant metropolis, heart of the Nation’s money system, faced the fu- ture coolly today, and expected quick return toward financial normalcy. A high banking authority, soon after a two-day holiday had been procleimed by Gov. Herbert H. Lehman, shortly after 4 a.m,, said that while the holiday was not technically national in scope, its effect in general was likely to be such. One important effect, the same au- thority pointed out, would be the stop- ping of gold withdrawals, both local and to other countries, since the Fed- eral Reserve Bank in New York was to be closed. A hundred million dollars in gold had left the bank in recent days scheduled for foreign account, and an unestimated amount had been with- drawn by citizens. Federal Reserve banks in other affect- ed districts, the same high authority pointed out, would also close, and ex- changes in other citles might be ex- pected to cease business with the New York Stock Exchange. Lehman Comments Little. ‘While there came no official state- ment _explaining the chdntol the Fed- eral Reserve Bank, which is not a part of the State system, the high authority | said it would close because there would be no banks for it to do business with. Gov. Lehman little comment to make after making his pr ition. Asked if he considered a two-day holi- day sufficient to bring back normal conditions, he said: “I hope s0.” "ge "Mm hem h&dhnut‘hld personal con- of at Washington, but it was known that New York bankers had communicated with the Capital. The conference that preceded the dramatic holiday announcement in the hours before dawn was one of the not- able meetings of financial history. Be- sides members of the Clearing House Committee, others of the Nation's fore- most bankers attended—a collection of big names representing the most potent :omas in the banking life of the coun- ry. Bankers Are Silent. ‘Thomas Lamont, a principal partner of J. P. Morgan & Co., left the mee!m% with nothing to say. Similarly silen were George Harrison, governor of the New York Federal Reserve, biggest in the country and the greatest gold repos- itory in the world; Winthrop W. Ald- rich, president of the Chase National Bank, commercial bank in the world; James Perkins, chairman of the Federal Reserve bank said he would have no statement, but that Gov. Leh- man would. The Lebman statement, reclaiming today and Monday as bank gofidlyl. followed. Gov. Lehman explained the necessity of the holiday as due to the burden placed upcn New York banks by hali days throughout the country. The ac- tion was taken, he said, “with the ad- vice and recommendation of the Fed- eral Reserve Bank of New York.” In Ilinois Gov. Horner called the holiday at the request of bankers and the Federal Re: e Bank of Chicage unprecedented with- drawals.’ In New York Gov. Harrison of the board of the National City Bank, sec- bank the . Joseph perintendent of banks, also attend All left the talking to the Governor, himself a noted banker, who stressed in his o‘;l‘u:hl sn"t:mg tg:t it “c.finms spread of “hysteria ant restrictions upon the banking: facilities of “The obligation of said banks to pay | State. kS e 1 Hi i i 1 £ H E i i ald of & bank holiday, described as| HOWELL AND CONNALLY SHOW IMPROVEMENT Pneumonia and Influenza Patients, Respectively, Are Reported Better. was noted overnight in the condition of the Senate’s two ill members, Robert B. Howell, Nebraska Republican, and Tom Connally, Texas Democrat. 2 At Walter Reed Hospital, where the Nebraskan has been seriously ill with rnznmonh for a week, it was said the lung congestion seemed to be clearing up. and that the Senator was “slightly improved.” His illness is still serious, however, doctors pointed out. Senator Connally, who has been con- | fined to his epartment with influenza, by telephone from his this morning, reporting his physi- cian had told him his temperature was normal, but that the weakness accom- mfl-fll disease would probably keep in bed for several more days. RELIEF SLASH HITS LOCAL DESTITUTE Improvement Unless Employment Improves. The action of the House yesterday in | slashing $125000 off the m&m | $300,000 appropriation for em y relief work here during the nm”n':‘dir | of the current fiscal year, will place a decided crimp in the relief of local des- ux‘:e‘:u‘;mlm , unless is an un- e provement in employment | conditions, it appeared today. ° George S. Wilson, director of the Board of Public Welfare, with which the Emergency Relief Committee is af- filiated, announced the board would meet next week to review the situation | and to plan how far the now available r;xund; will go in relieving distressed fam- es. Until that time, he said, he could not estimate what would be the effect of limiting the deficlency relief item to | $175,000. Much will depend on whether | the recent increase in the number of | familles applying for aid continues dur- ing the remaining four months of the current fiscal year. New applications | have been coming in recently at the rate of about 500 a week. Allowance for this condition was made in the request for the additional $300,000. On March 1, the welfare board had about $400,000 left of the $625,000 fund made available in January. With the additional -rproprhtlon of $175,000 the “Dlstrict will have about $575,000 for the four months, March through June. Relief expenditures, most of which goes to men and women employed on “made” work Eru)ecu, now amount to $40,000 a weck, including administra- tive costs. This gives on an average about $4 a week to the needy families. A recent check showed about 8,000 fam- ilies on the relief rolls. v‘;:sy for an adjustment of our difficul- “Now, therefore I Herbert H. Lehman, Governor of the State of New York, do hereby proclaim and set apart Saturday, March 4, and Monday, March 6, as hol- idays on which all banking institutions will be closed.” Clearing House Statement. ‘The Governor’s proclamation was ac- companied by a statement by the New York Clearing House Committee in which it was seid the “unthinking at- tempt” of the public to withdraw forty billion dollars of deposits at once was “on its face impossible.” The statement follows: “The request of the Clearing House Committee to 'the Governor is based on the continued and in ‘with- . | drawal of currency and gold from th banks of the country. “The unthinking attempt of ths pub- lic to convert over forty billions lars of deposits into currency at one time is impossible. “While the cnadmnn of the on its face Action of House Blow to Poor | demand’| dation GERMANY UNEASY ON ELECTION EVE Fate of Country Is Declared in Balance in Balloting Tomorrow. By the Associated Press. | BERLIN, March 4—Germany’s sixth | major electicn in a year will be held to- morrow, with pro-Hitler appeals and demonstrations monopolizing the cam- | paign wind-up. Iron decrees shut off | electicneering by the t#o main opposi- tion parties, Socialists and Communists. | tie Chancellor Hitler and his cab- | inet members made last-minute prom- ises that Reichstag and Prussian Diet elections will mark the dawning of a new day, former Chancellor Heinrich | | Breuning, the Centrist leader, saw Ger- | many being plunged into darkncss. | 35,000 Troops March. Berlin's _streets resounded to th tramp of 35,000 of Chancellor Hitler's | storm trcopers, who marched through the historic Brandenburg gate, up Unter den Linden and past the Prussian i tericr ministry, where Capt. Hermann Goering, minister without portfolio, re- ceived their salute. | Then the marchers strode up Wil- helmstrasse streets, which were gay with swastika | flags, symbol of Chancellor Hitler's | Nazi followers. Great crowds acclaimed the paraders. | | Hitler's determination to retain eon-| trol, whether he wins or loses in the | balloting, apparently eliminates possi- | bility that the actual voting will de- | termine Germany’s future, but both | | sides see danger that the day may only | serve to aggravate the incipient civil war of the past two months. Plea for Protection. Dr. Bruening got in a late appeal to | President von Hindenburg to “protect | the suppressed from the cppressors,” while Hitlerites recognized the factor | of force in enrolling Nazis and steel- | helmet war veterans as police and by the wholesale arrests of Communists. Hundreds of the jailed Communists will jose their votes, whether the Nazi threat to throw out their party’s bal-| lots is carried out or not. Although the Hitler regime has ruled | that democratic and parliamentary days are over, Germany is going in for its biggest scale office-filling splurge with tomorrow’s electicn of about 600 Reichstag and 400 Prussian Diet mem- bers and the following Sunday’s voting for tens of thousands of town | counsellors. | All of these office holders were thrown out last month by the Hitler regime in | the hope it could gain control by the| ballot box of the nation and ll’leX largest state. To accomplish this, the | trend shown in the last of the five big elections of the past year—the presi- dential “primary” and run-off, the two Reichstag and one Diet electicn—must be completely upset. | Dissolution Threatened. ! If the Hitler party should succeed in winning control in the Reichstag, that body is expected to voluntarily elim- inate itself as a limb of government by taking a protracted vacation of from several months to two years. If he fails, his party leaders say the vacation will be ordered anyway simply by an- other dissolution under emgrgency decree. CANADIANS TO REFUSE NO UNITED STATES MONEY Rumors to Contrary Ridiculed by General Manager of Bank of Commerce at Toronto. By the Assoclated Press. TORONTO, Ontario, March 4.—Two Canadian bankers last night described as ridiculous rumors that Canadian banks would refuse to accept United States money. “We'll take all the American money we can get,” said Sidney H. Logan, gen- eral manager of the Canadian Bank of Commerce. “The more the merrier,” he added. He said he knew of no foun- for the rumors. Clarence A. Bogert, vice president and general manager of the Dominion Bank, WIDOW CONVICTED Former Parachute Jumper Gets Life in Husband Slaying. SALT LAKE CITY, March 4 (®).— Mrs. Elizabeth Droubay, former para- ot Coan? ey yestenaay on & Charse on a of murder for the fatal shooting of her husband, C. Edson Droubay, last No- vember. Her sentence was fixed at life im- * Mrs. bay _testified prisonment. Drout Ty o A mdn;;’.:nng went to their home to nary to filing a suit for divorce. ——e e MARCH 4 VISITOR DIES . J. A. Ferguson, 72, Victim of Heart Attack. and through West End | Sf HALLS OF CAPITOL Final “Lame-Duck” Meeting Opens Early to Transact Last-Minute Business. (Continued From First Page.) in which Mr. Garner had presided over the House. ‘The retiring Speaker responded feel- ingly regarding his loss in being sepa- rated {rom those with whom he has served so long with such pleasant re- lationships. The House adopted unanimously a resolution offered by the minority lead- er expressing appreciation of the fair- ness, impartiality and ability with which Garner has presided. Mr. Snell referred to the pleasantness of his personal and official association with Speaker Garner and said similar good feeling had existed between the majority end minerity. Sees Party Harmony. In his reply, Garner spoke with ap- preciation of the manner in which Mr. Snell had acted as minority leader. He expressed confidence that the majority and minority would continue the co-op- eration which had been developed dur- ing the period of economic depression, working together in a common effort to solve the troubled situation of the country. Garner, when presented with the gold watch, declared his belief, based on intensive study of the history of the Republic, that statesmanship among the members of the House at present ranks fully as high as many years ago, when figures great in history were ac- tors upon the legislative stage. He pointed out an appreciation of this statesmanship has been clouded by the economic development of the country and the tendency of the public to pur- sue the almighty dollar. This situa- tion, the retiring Speaker said, has tended to detract the attention of the public from a just appreciation of in- tellectual attainment and statesman= ship by members of Congress. Immediately after adjournment, the retiring Speaker went to the Senate side to be sworn in as Vice President, with most of the House membershin | attending the ceremony. With the passing of the Seventy= second Congress, marked by the sub~ mission of prohibiticn repeal to the States, the voting of freedom for the Philippines over President Hoover's veto, and emergency relief legislation, many veteran Recpublicans turned to private life to make way for a younger crop — mostly Democrats — of embryo legislators who were swept into office last November. For Mr. Curtis, who hands over his nicked gavel to John N. Garner, it was farewell to his old stamping grounds. Others leaving the political spot- Light—at least for some time to come— included the veteran Senate dean, Smoot of Utah, with 30 years of con- tinucus service behind him; Watson of Indiana, the Republican pilot, 16 years, and Mcses of New Hampshire, 14 years. Minus half the Democratic economy rogram for this session, but carrying broad power for Mr. Roosevelt to effect big savings by merging and abaolishing Federal agencies, the record of achleve- ment of th> expiring Congress, bezin- ning last December, might be summed up thus: Submitted prohibition repeal to the tates. Gave the incoming President viriually blanket authority to curtall and con- sclidate departmental activities. Voted independence for the Philip- pines; the island Legislature must ap- prove the 10-year transition period pending complete withdrawal of Amer- ican sovercignty. Couzens Bank Bill Passed. Adopted the Couzerns bill granting autho:ity 1‘:? ;{1: controller of the cur- rency to invoke emergency regulations to limit withdrawals from naticnal banks. Extended the currency expansion pro- visions of the Glass-Steagall act an- other year—making Government securi- ties the basis for new money. Provided machinery for bankruptcy reliet under which individual and (plrm debtors may voluntarily appeal to the courts for extensions or reductions and permitting rdliroads to readjust their capital structures with approval of the courts and the Interstate Commerce Commission. Approved reappropriation of $90,000,- 000 for crop loans for 1933. Adopted the Smith bill designed to raise cotton prices by formation of a huge pool of Federal-financed cotton | to be shared in by farmers who cut their 1933 acreage 30 per cent. Adopted the Fletcher-Steagall bill, setting aside a reserve fund of $50,000,- 000 by the Federal land banks to grant extensions on loans and permitting farmers to borrow direct from these in- stitutions. Important Measures Die Along with the more than 2,000 nom- inations sent up by Hoover for con- firmation in the short seesion—which fell under a Democratic ban—here are some of the more important measures that passed the Senate but failed to cbtain a hearing in the House. The Glass banking reform bill, Wag- ner unemployment measure ing the Reconstruction Corporation distress relief loan fund by $300,000,000; the Hull-Walcott bill, extending credit in return for a two-year moratorium on foreclosures of farm and small urban home mortgages. The House failed to get Senate ap- roval of these measures: . A bill legalizing beer and a com- panion plece removing restrictions on medicinal liquor prescriptions; the do- mestic allotment farm aid bill, the Steagall guaranty bank deposit and Goldsborough currency expansion meas- ures. The increasing strain of the depres- sion turned the first session into a forum for the consideration of relief measures. In - e to a suggestion from Mr. Hoover the Reconstruction Finance Corporation, was set up and glven $2,000,000,000 for relief loans. This was auemented before the session’s end in middle July by $1,800,000,000 more. Wrestled With Tax Bill, Outside the Capitol in the flerce July hundreds of the also characterized the report as “idle.” = J. A. Perguson, 72, who came from Ancon, Canal Zone, to “died of