Evening Star Newspaper, April 6, 1933, Page 16

HE EVENING STAR, WASHINGTON, D. C. TH JRSDAY. A—16 **» T . SECURITIES BILL REVISION STARTED Removal of Objections Made at Hearing Is Aim of House Committee. By the Associated Press. Revision of the administration bill for regulation of security issues was under- taken today by the House Interstate Commerce Committee, with the pur- pose of clearing away objections de- veloped in several days of hearings. As this committee met in executive session, open hearings were continued on_the Senate side. The Senate's Banking Committee heard arguments against the bill from R. V. Fletcher, general counsel of the Association of Railway Executives, who contended it was unnecessary to bring railroads’ financing under the Federal Trade Commission control proposed by the bill, because the roads are now under supervision of the Interstate Commerce Commission. Huston Thompson, former Trade Commission chairman and one of the drafters of the securities bill, told the committee Fletcher was under a “mis- | apprehension.” He said the small regu- | Jatory charge of one one-hundredth of | one per cent is not levied by the bill on | railroad securities. | Alexander Holtzoff of the Department | of Justice, said, “It seems to us this | bill is not any burden on and does not | constitute any interference with Jegiti- mate business.” But illegitimate business ventures | cculd not survive under it, Holtzoff added. | Healy Cites Evidence. Hortzoff told the committee that re- moving the lisbility of directors for | stock issues as asked by some witness, “would take the teeth out of the bill” The person causing an investor to Jose, even though innocent of any fraudulent intent, Holtzoff maintained, should be liable. Robert E. Healy, chief counsel for the ‘Trade Commission, cited to the com- ‘mittee, as indicative of a need for NT ulation and full publicity, evidence col- lected by the Trade Commission in its utility investigation showing over-capi- talization, watered stocks, subsidiary holding companies and methods re- sorted to by many to dispose of their stocks at increased values and profits. Healy said he recounted this data to show that many securities were based on fictitious values. Amendment Suggested. He suggested the bill be amended to require companies to report costs of their assets and how that cost was paid. Touching briefly on the Insull utility empire’s crackup, he said one Insull operating company showed a deficit and then another took over its stock at par value, setting up a surplus to r®lace the deficit on the books. “This never could have happened if American legislators had not departed frem the common law principle that one corporation couldn’t own the stock of another,” Healy said. TRAIN VICTIM IDENTIFIED Believed to Be New York City So- cial Registerite. ST. LOUIS, April 6 (#).—The body of a young man, who apparently was killed by a possenger train near here, last night had been tentatively identified as that of Eli Whitney Barstow Hop- Kkins, a graduate of Columbia University, and who is listed in the New York City social T, The tentative identification was made by means of an automobile dirver's license found in the man’s pocket, and by relatives in New York who talked , with officers here by telephone. VALEDICTORIAN NAMED Timothy McCarthy of Rockville, Conn., was named valedictorian of the class of 1933 at Catholic University last night. _The official announcement came from Frank J. Brennan, senior class president, after a close election in which McCarthy eliminated seven other can- didates for the honor. McCarthy is editor of the senior an- Playtime at the White House 'FRANEE SEES WAR “SISTIE” AND “BUZZIE” FROLIC ON LAWN. RS. ROOSEVELT is scen above playing with her grandchildren “Sistie” and “Buzzie” Dall, children of Mrs. Curtis Dall, in the special play- ground provided for them on the White House lawn. ‘The swings and slides were installed at the request of Mrs. Roose- velt for her grandchildren and their little friends. name is Anna Eleanor Dall, is 6 years old, while “Buzzie” is 214.—A. P. Photo. “Sistie,” whose full HOLY HOUR RITES HELD Rev. D. J. Connors Talks at Church of Immaculate Conception. A special holy hour service in clamation designating 1933 as a holy year was held today in the Church of the Immaculate Conception from 11:15 am. to 12:15 pm. The sermons were delivered by Rev. Daniel J. Connors, oblate missionary of Mary Immaculate. ‘Tomorrow the feast of the seven dolors of the blessed mother will be celebrated at the church with a solemn high mass at 12:15 pm. The three hours’ agony service Good Friday from noon to 3 p.m. will be preached by the | Itl) nual, the Cardinal, this year. observance of the Pope’s: official pro- | i 300 Extra Miles at Sea No Added Cost AILING for Europe on the fast American One-Class ships of the Baltimore Mail Line, you enjoy 500 added miles of ocean travel— without added cost. You can enjoy the luxury of a most comfortable stateroom for as little a8 $9.00 per day. A ship sails every Wednesday for Havre and Hamburg. Rev. George F. Strohaver, 8, J, of Georgetown University. Don’t Run The Risk ourself the embarrassment of offend- on odor. A dab of Save y others with perspir: 2 Odor-Sweet, a harmless snow-white cream, under each before you leas home keeps you fresh and all day long. Doesn't_irritate, clog the pores or stop their normal functions . . . . but it does com- pletely neutralize ofiensive odor caused from perspiration. Get a generous 25c jar today at Peoples Drug Stores. Also in popular liquid form at 3%c. ODOR-SWEET DEODORANT _|Daladier Pictures Danger of INMUSSOLI PLAN Conflict in Guise of Ar- ranging Peace. By the Associated Press. PARIS, April 6—Danger of war in the guise of peace was the wamlngt Premier Daladier gave the Chamber of | Deputies today in discussing the Mus- | solini peace plan, during the course of | which he outlined France's determina- tion to work on European collaboration within the framework of the League of Natlons. “It is essential to make impossible a | new armaments race,” he declared in the | course of a 15-minute address during | a debate on foreign affairs and the budget. Contemplates Revision. Speaking of revision of boundaries, he sald: “What revision? What frontiers? | Does it not rik leading us into war | under the flag of peace?” The Mussolini plan, it has been 1-e-l ported, contemplates the revision of certain boundaries established by the Versailles treaty. “The Prench government,” said the premier, “cannot adhere to a directorate | which would impose its will upon the rest of the world.” Calls Treaties Basic. France, he said, considers that the| League of Nations Covenant, the are basic and that respect for them rd Praising the sincerity of Premier Mussolini and Prime Minister Mac- Donald of Great Britain, he declared collaboration of the four big powers within these accords would be fruitful. M. Daladier said he considered the British disarmament plan as basic for discussion. He expressed pleasure at the return of Norman Davis as President Roosevelt's representative, saying he would examine attentively any proposi- | tion Mr. Davis makes. ACCOUNTANT TO TALK “Accounting As a Profession” will be discussed by William Gordon Buchanan, certified public accountant, | in the Occupational Adjustment Forum | of the Y. M. C. A. tomorrow at 8 p.m. at the Central Y. M. C. A, 1736 G| street. p The talk is one of a series & by the Y. M. C. A. Comm Vocational Guidance and the Kiwanis | Club. Dr. J. Orin Powers, chairman | of the Y. M. CA. committee, will | preside. The public is invited. REDUCED FARE '1.00 BALTIMORE Every Saturday and Sunday, good returning till last train Sunday night. W.,B.&A.ER.R. 12th St. and New York Ave. N.W. ROUND TRIP Briand-Rellogg pact and the Locarno Large staterooms, all outside, on upper decks, 609, with private bath. sports decks. Spacious lounge, smoking room, bar. 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