Evening Star Newspaper, May 16, 1933, Page 16

''A—16 . L2 CILDENBARGD FFEET EVAMINED Wall Street Studies England’s Experience for Clue to Future Prices. By the Associated Press. NEW YORK, May 16.—The long- term effect & gold embargo may have on prices is absorbing the attention of many Wall Street observers and Eng- Jand's experience is studied in the hope of finding valuable precedents. While the situation is not strictly #nalogous, due principally to different legislative programs, banking quarters feel that an analysis of the British sit- uation may provide & clue to future developments in the United States. England left the gold standard in Beptember, 1931, and the pound depre- ciated until, about the middle of De- cember, 1931, it was quoted at a 32 per cent discount in terms of U. S. dol- lars. Thereafter there was an improve- ment and in April, 1932, the discount was 22 per cent. There was a vigorous rise in British security prices after the initial decline in the pound, but the spurt was more shortlived than the downward trek of sterling. The peak in security prices was reached about the end of T, or six weeks after Great Britain left 1d. 'o‘n\e up-trend of British commodity prices, however, was more protracted snd lasted until the end of February, 1932, although the movement was not nearly as sharp as the depreciation of -the pound. An advance of 8 per cent occurred in less than two weeks, but from September 30, 1931, to February 28, 1932, British commodity prices ad- Yanced only three points, bringing the -level to the high point of the year. By June, however, the entire gain had been erased. A close scrutiny of these price trends #has led certain bankers to the conclu- sion that foreign exchange quotations are more sensitive to suspension of gold payments than are commodity or se- curity prices. Great Britain’s experience also shows, it is maintained. that the aban- donment of the gold standard and embargos on gold are not in themselves sufficient to improve commodity prices to any substantial degree. It is pointed out that the deprecia- tion of the pound averaged about 30 per cent from September. 1931, up to the time the United States left gold, but that British internal prices on the | latter date were slightly lower than September, 1931. SERVICE SCHOOLS TO CLOSE EARLIER Only War College in Washington Not Affected by Economy Order. ANl service schools in the , 3 was learned today, are to be closed from two to three weeks earlier than usual this year in the interest of econ- omy. Only the War College in Wash- ington is not affected by the order. One reason for this early closing, it was disclosed, is to release approxi- mately 800 faculty members and stu- dent officers for duty with the Civilian Conservation Corps with reforestation camps throughout the. country. Ordi- narily the schools graduate their offi- eers between June 15 and June 20. Nine service schools are affected by the order. These include the Com- mand and General Staff School at Fort Leavenworth, Kans, next to the War College in importance. The other schools are the Infantry Bchool, Fort Benning, Ga.; the Tank School, Fort Benning; the Engineer Bchool, Fort Humphreys, Va.; the Coast Artillery School, Fort Monroe, Va.; Field Artillery School, Fort Sill, Okla.; Cavalry School, Fort Riley, Kans.; Sig- nal Corps School, Fort Monmouth, N. [~ J.; Medical School, Carlisle Barracks, Pa.; the three branches of the Quar- termasters School at Philadelphia, Chi- cago and Holabird Depot, Baltimare. Gold Star Mother, Blind and Infirm, Goes to Son’sGrave Gothernberg, Nebr., Woman Is One of 135 En Route to France. By the Associated Press. NEW YORK, May 16.—A gold star mother, aged and infirm, starts for Prance this week to kneel and pray at 3 S.'" she cannot see. e is Mrs. Olive Golden of Gothern- berg, Nebr., one of 135 mothers and lows who sail tomorrow in the sea- son’s first pilgrimage to the American mlg}t;lry“umnml;l; in Pnnc;. e 18 pa: ppled and virtually blind. Her family tried to dissuade her from making the long journey, but she was determined. “He was only 18 years old and such & slight boy,” she sald today. “I never heard from him after he reached Eu- rope. The only word I got after that was the notice from the War Depart- ment that he had been killed. “My daughter told me there was no sense in my going. She said I won't be able to see the grave or even the cross. That's true, but I just want once more to be near my son and talk with him in prayer. “He was 80 brave. I owe it to him and I only hope I will be permitted to get out of my wheel chair to kneel down at Yxfll mvel “I may get homesick, but I am going to be brave,” she said. AKRON VICTIM’S ESTATE ESTIMATED AT $3,000 Comdr. Henry Barton Oecil Left No Will, Petition to Court States. Comdr. Henry Barton Cecll, U. 8. N., who lost his life when the dirigible Akron crashed into the Atlantic Ocean last month, left an estate of less than $3,000, according to a petition filed yes- terday in District Supreme Court by his widow, Mrs. Isa McBean Cecll, 2400 Sixteenth street. dr. Cecil did not own any real estat® but had $1,466 in cash, a $1.000 life insurance policy and a brokerage account worth $200, according to the petition. Mrs. Cecil also stated he had stocks of the par value of $14,766, but which are now worthless. The peti- :l;n‘:lsuud “various persons” owed him He is survived by his widow and his mother, Mrs. Pauline E. Cecll of New River, Tenn. There being no will, the estate will be divided equally between them. The petition was flled through Attorney George M. McKee of the Riggs National Bank. PAPAL ENVOY SAILS Msgr. Cicognani Leaves Italy for United States. GENOA, Italy, May 16 (#)—Msgr. Amleto Giovanni Cicognani, the new apostolic delegate to Washington, sailed for the United States’ yesterday on the Conte di Savola, Msgr. Camillo Caccia-Dominioni, Vati- | can master of ceremonies, and several | prelates and civil officials said good-by to him. SORE T0 INSTANTLY RELIEVED! You get these amazing results with Dr. Scholl’s Zinotpads: In one minute every traceof pain is gone. In ten seconds the sore toes from tight shoes stop hurting. The cause—shoe pressure—is immedi- ately ended. Used with the separate Medicated Disks, included in every box, . these thin, soothing, healing pads quickly and safely remove corns. Geta. box today. At all drug and shoe stores. DrScholls Zinopads BURLINGTON offers GLACIER PARK and the WORLD’S FAIR @ Rail and Pullman fares—all costs slashed way down! And you need and deserve a real vacation this year. Come out to Glacier National Park where Nature's glories remain unchanged and unchangeable. THE EVENING STAR, WASHINGTbN, D. O, TUESDAY, MAY 16, 1933. ... MEN, you were smart in waiting for Lansburgh’s Sale! ...In 1933 you naturally expect more for your money! ... We paid less, and got more for our money! ... You will pay less, and get more for your money! torting ot 8 AM.TOMOITOW. . Lonsbunghts & ctrnual HOT-WEATHER SUIT SALE! The 1933 Price at Lansburgh’s With inflation, there is indication that suits of this quality eannot be duplicated to sell at this price. $10.85 because: we don’t believe in stock market tactics when it comes to dealing in public confidence. We'll never sell you “short.” We know that your good common-sense dictates that * the price for 1933 hot-weather suits should be lower, and even at the lower price you expect more value . . . more quality . . . we’re giving them to you. Use 8th Street Entrance ’Til 9:15 The suits are the tip-top productions of Lansbrook tailors. There are no pick-ups, no left-overs from last year, no mistakes. Every one of them hand-picked— so good, in fact, that we anticipate a complete sell-out. —Coat with trousers to match. —Three-piece vest ensembles. —Sport coat with sport trousers. —Blue or brown coats with white trousers. —In fact, most any kind of suit make-up. SIZES: 34 to 46 regular; 35 to 44 short; 36 to 44 long; 38 to 50 stout. Yes, sir, hot-weather suits—Lansbrook tailored suits of all-wool tropicals, crashes, flannels, light- weight serges, basket-weave woolens and cold-water shrunk linens, all purchased when prices were at low-ebb, and made up during the off-season period. Why, men, this sale is bound to be the talk of the town . . . it's that well planned, and if you have ever attended one of our hot-weather suit sales in the past three years, you know what to expect. This year, with enlarged space, twice the number of suits, three-fold facili- ties . . . it’s bound to be the greatest ever ... just can’t help it. Men’s Clothing Shop—Street Floor A free stopover in Chicago for the World’s Fair. Then—aboard the famous EMPIRE BUILDER to Glacier Park’s mighty mountains . . . to ride skyline trails, to fish for rainbow trout, cruise the Alpine lakes, know the Indians, relax in splendid hotels . . . to motor over the spectacular new Trans-mountain Highway. A bigger vacation value than ever before. You may include Yellowstone National Park in the same trip for only $4.75 extra rail fare, while routing via Denver and Colorado Springs costs mothing extra when you go Burlington. i Never before a travel opportunity like this. Ask Burlington travel experts In the Philadelphia office for cost details and plans. Burlington Escorted Tours—Personally con- ducted, carefully planned, expertly managed. One low cost covers all expenses. The carefree way to see the West at lowest cost. Lansburghs NO CONNECTION WITH ANY OTUER WASHINGTON STORE T™, 8™ and E FREE...GLACIER PARK BOOK | $3 95 L 4 Sale! Men’s Dress and Sports Trousers A marvelous assortment of striped and plain cream colored wool flannels, also all- wool worsteds; waist measurements 29 to 4. Trousers that will later sell for $5.00—now Ade Check here if interested in Eacorted Tours O = AP D~ B D~ W - - D=~ O~ S e~ — - E. H. 8mith. General Agent. t. 8- Fior Pty B ohts Fraee Bide, Philadeiphia Please send me free booklet with full detalls about Glacier Park vacations. ] | b Neme_ : ]