Evening Star Newspaper, March 20, 1933, Page 6

RECOGNITION HELD NEAR FOR SOVIET Inauguration. of Koosevel&, Hailed by Foreign Policy Association. B the Associated Press. “With the inauguration of the Roose- velt administration, the recognition of the Soviet government appears more probable than at any time since 1917,” sald a review of the American attitude toward Russia, published today by the Poreign Policy Association. “According “to_some observers,” the report added, “recogition should be accotded as early as possible in the administration, both to stimulate Sovlet- American trade and to facilitate col- Iaboration of the United States and the 8oviet - Unfon—the two great = non- League powers—in concerting measures to support the League's recommenda- m , concerning the Far Eastern Meanwhile Senator Borah, of Idaho, and other advocates of Russian recog- nition are keeping the problem alive. A decision apparently has been reached them, however, to await some defi- cue from the White House before making a concerted move. Thorough Probe Demanded. Notice slready has been served on Capitol Hill that a demand will be made for detalled Senate investigation before action is taken. Among some advocates of recognition herc it is felt that the Moscow-gouern- ment, now 16 years old, has passed fHé stage where it welcomes commissions [, of investigation from foreign powers considering the problem of granting ition. Recent statements ol w officials indicate that any power seeking to establish diplomatic relations with the Soviet republic must ch it on & basis of equality in mocordance with diplomatic practice. Officially the American Government, up to the present administration, has faken the position that Rugsia would be granted recognition only upon a set- tlement of the Russian debt to this Gov- urnment the settling of claims of Amer- ians whose property was taken over the Soviet government and the that” Communist propaganda Jould not be carried on in this country. ). This policy was formulated by Chief Justice Charles Evans Hughes as Secre- tary of State and was restated by Secre- les Kellogg and Stimson with slight rations. «. Roosevelt Still Silent. ‘What action will be taken by Presi- dent Roosevelt and when he will speak b mind has not been disclosed offi- ‘lly ‘The report, published today, was written by Vera M. Dean and covered at some length the effect of recognition om_Soviet-American trade. It said “many competent observers eontend * ¢ that the Soviet.gov- emment 1s not as anxious for recogni- #on today, when it has consolidated its hternlmmll position, as in the early n’x of fts existence, when, it was con- ted by & hostile world and that the T recognition is delayed, the more it #t will be for the United States obtain concessions from the Soviet on.” The association is an organization - m‘m in New York under the nship of James G. McDonald for the study of international affairs and publishes fortnightly reports on current political .nu-uom E. TEMPLE THURSTON VICTIM OF PNEUMONIA Boitish Novelist and Playwright Passes Away at Age of 53 Years. $7 the Associated Press. LONDON, March 20—E. ‘Temple Thurston, British novelist and -play- wright, died yesterday of pneumonia Mowln; influenza. He Was 53 years ‘Thurston published a great number g'nouls about a dozen plays and a books of verse. The novels in- ecluded “Apple of Eden,” “City of Beau-( fiful Nonsense,” “David and Jonathan,” m;fl(}omi:ekafi;er (BedS'p the i “Rosi- | cian,” “Portrait of a Spy”-and “The Pluionnte Crime.” ' The plays include "Bllly Bishop,” “The Wandering Jew” and “Chrameuse.” ¢ He was married three times, to Kath- erine C. Madden 190r, Joah Kath- Cann, 1911, and Emily Frances lin, 1925. BAN CHILDREN Wobacco Growers Voluntarily Agree Not to Employ Youngsters. BOSTON, March 20 (#).—Tobacco :g:en representing 95 per cent of the uction in Comnecticut and Massa- ochusetts have agreed voluntarily not 0 employ children under 14 years on Mr phn tatiqns. win S. Smith, Massachusetts com- lnlulmer of Jabor and industries, in t!:g the announcement yesterday said the employment of children of 12 mfl and under on the tobacco’ farms been the source of frequent criti- ¢lsm from organizations in both States tnterested in child welfare. The agreement made public today was arrived at after personal visits to the flelds by both Smith and Com- Missioner Joseph Tone of Connecticut and subsequent conferences by both effieials with tobacco growers. Minute Mysteries Solution to CASE NO. 127. (Bee Page A-3) Pinding the 'body sitting ON the bed clothes flung TO THE BIDE convinced the professor the man was not shot as he got out of bed to answer the phone. Invariably when fiinging the bed clothes to ONE side one gets out of bed from the OPPOSITE SIDE. All right, watch yourself tomorrow morning! A SNAPPER-UP OF UNCON- SIDERED TRIFLES—Shake- speare. COUGHS Don't let them get a strangle hold. | | Fight germs qu Creomulsion est helps known to | Powerful | but sant to take. No Your drugglst will re- fund your money if any cough or cold, no matter how long wtanding, | is ot relieved by Creomulsion.— Aavertisement. g:m a comfort cushion—holds pPlates so snug, they feel and act like your own teeth. No more danger Leadihg dentists endorse . Guaranteed better than any- you ever used or money back. package, 35c at all druggists. KLINGE:: Couple’s Twentieth Child Is Named for Franklin Roosevelt By the Associated Press. GRASS VALLEY, Calif.,, March 20.—Mr. and Mrs. ‘Albert’J. Kis- tle are the parents of an even soore of children. bo'.l‘he twent&leth child, a son, wfi; rn_yesterday. He was name Pnnk!ln Roosevelt Kistle. There are 10 sons and 10 daughters, all living and in good health. The Kistles were married in 1905. Both are under 50 years of age. SHIP FIGHTS STORM AS LINER STANDS BY Japanese Freighter Recently Pur- chased From Canadians Listing Badly After Cargo Shifts. By the Assoclated Press. SEATTLE, March 20.—Listing badly because her lumber cargo had shifted, the Japanese freighter Canadian Seig= neur fought stormy weather in mid- Pacific today, with at least one vessel standing by to give aid. ‘The Empress of Russia, rushing to the scene in reply to the_freighter's demands yesterday to “hurfy quickly,” messaged it had reached the vessel's position later in the day and last night radioed it had sighted the stricken craft. The message said: “Canadian Seigneur sighted and is listing about 25 degrees, due to cargo shifting. Think vessel disabled. Stand- by awaiting arrival of - Oegon 0 ‘The, Canadian Seigneur, which left Grays Harbor on March 2 with a crew of 45 men, all Japanese, gave its posi- tion as about 2.000 miles west of heré and several hundred miles south of the Aleutian Islands. The vessel was owned until recently by the Canadian National Line, but was sold to Japanese interests and was chartered to the Yamashita Shipping Co. for the present trip. Willlam G. Rogers, general freight agent of the company, denied reports she had been purchased for a troop- ship by the Japanese government. Kills 600-Pound Bear. ‘TWO HARBORS, Minn. (#).—Conrad Floathe, in search of deer, shot what is claimed to be the biggest bear ever killed in the north woods of Minne- sota. The bear, weighing between 600 and 700 pounds, was felled with one shot in the head, Floathe firing from a distance of only about three feet. Bituminous-Smokeless A full 2,240 Ibs. in egg size. You'll find our delivery service unusually prompt and clean. Try fit. TERMINAL &2 CO. 3rd & K Sts. N.W. NA. 0990 | Feel Tired, Lack Energy?, You need a good tonic to stimulate your ap- | petite and increase your vitality. 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N.* *Nume on Reguest. St . Louis, Mo. FOR FREE TRIAL size package of Ointment and Soap with your copy of our booklet on ‘Treatment, write THE EVENING STAR, WASHINGLON, D. C, MONDAY, MAKUH 20, 1933. STUDEBAKER CARRIES ON Recei?ership proceedings find world’s oldest vehicle manufacturer with assets exceeding liabilities by over $70,000,000 FACTS LEADING TO COURT ACTION REVEALED STUDEBAKER is ‘still Studebaker in spirit, scope and service. There has been no change, except for the better, in the policies and program of the historic Studebaker institution. And Studebaker is fortunate that the men appointed to administer its affairs are H. S. Vance, Vice President of The Stude- baker Corporation; Paul G. Hoffman, Vice President of The Studebaker Corporation, and A. G. Bean, President of The White Motor Company—men schooled in the traditions which have given Studebaker its world-wide prestige. The great South Bend plants of Stude- baker, closed since the announcement of the bank moratorium, reopen Tuesday, March 21, under the direction of these sea- soned automotive executives. The New Strength of Studebaker The Studebaker Corporation and its subsidiaries (including The White Motor Company and The Pierce-Arrow Motor Car Company, which are not included in this receivership) had on January 1, 1933, excluding good will, net assets of $77,622,- 293 in excess of all liabilities and a book value, excluding good will, of $26.22 per share of Studebaker common stock. Of these total net assets, net current assets were $21,781,243 or $8.84 per share of com- mon stock. Cash alone was more than $9,000,000. Directors of Studebaker consented to the friendly receivership, despite the com- pany’s strong financial condition, because in their opinion the best interests of Stude- baker would be protected; until certain legal entanglements in connection with the proposed merger with The White Motor Company are adjusted. The Studebaker-W hite Merger Six months ago it was decided unani- mously by the respective boards of direc- tors of The Studebaker Corporation and The White Motor Company, that many economies and commercial advantages would result from a merger. A plan look- ing toward this merger was submitted to the stockholders of The White Motor Com- pany. Within a short time 95 per cent of the White stock was turned in, manifesting the almost unanimous approval of White stockholders. In recent months, however, holders of approximately 3 per cent of the White stock have threatened litigation against the merger unless their stock were purchased at a price which Studebaker directors felt to be unreasonable and upon terms which it was impossible to meet. Studebaker rec- ognizes the right of minority stockholders to set any price they please on their White stock—even, as in this case, a price higher than it has commanded on the open market at any time since 1929. In addition to pri- vate negotiations for this minority stock, Studebaker offered a plan of consolidation under which its value could have been es- tablished by court appraisal, but the minor. ity stockholders refused to accept it. The Studebaker corporation issued $14,900,000 in notes in connection with the acquisition of the assets of The White Motor Company. As a result of the atti- tude of the small minority group, these assets of White have not yet been merged with those of Studebaker. Furthermore, the terms under which these notes were issued have made it impossible, in the pres- ent banking situation, for Studebaker to secure its customary financial accommoda- tions, Studebaker’s competitive position in the industry has been improving steadily. During each of the past four years Stude- baker-built cars have secured a larger pro- portion of total registration than in the previous year. The four lines of trucks—White, Pierce-Arrow, Studebaker and Indiana— now sold by The White Company, showed a larger dollar volume last year than any competing company except Ford and Chevrolet. With these four lines of trucks, White branches made a better showing in January 1933 than in January 1932, when general conditions were much better. There will be no variation whatsoever in the quality of Studebaker and Rockne workmanship. Studebaker and Rockne automotive products will continue to be built without interruption or change, by Studebaker men. This pioneering organi- zation has already faced and fought and triumphed over more *“depressions,” wars and “bad times” than any other company in the automobile business. Studebaker now confidently carries on, assured that it can continue to offer the American public the kind of automobiles and service for which the name Studebaker is distinguished. STUDEBAKER ‘Builder of Champions—Pioneer of Free Wheeling