Evening Star Newspaper, June 27, 1933, Page 4

A—4 ¥» THE EVENING STAR, WASHINGTON, D. C, TUESDAY, JUNE 27, 1933. GOLD BLOGHOVES FOR STABLZATON Nations Act to Force Britain Without Regard to U. S. Dollar. (Continued From First Page.) the present Unitcd States and British programs. England avowedly is not ready to Ye- turn to the gold standard yet, and she would, in effect, be doing this if she sgreed to the stablization scheme. On the other hand, she would suffer trade losses were France and other countries forced off gold, with a re- sultant depreciation of currencies in re- lation to the pound. The American delegation did not ex- pect this development, but members of the American group were not particu- larly surprised, since any sort of move by France to preserve the gold standard, they felt, would not be surprising. However, well informed circles close to the American delegation expressed the opinion that the gold-bloc scheme was futile and that devalution of sev- eral European moneys was decidedly in | prospect. | To Fight Speculation. The gold-bloc bankers ‘n the meet- tng this morning also discussed action to be taken reainst & group of interna- | tional speculs who have been caus- ing recent fluctuations in currencies. The bankers envisage concerted ac- | tion by leading countries against such speculators. Finance Minister Georges Bonnet of France again declared today that in the French view the Economic Conference cannot achieve concrete results unless it arrives at definite proposals for the re-establishment of stability in cur. rencies. i He spoke at s meeting of a sub- eommission dealing with immediate measures for financial reconstruction. Dealing with the question of indebt- edness, which has been under consider- ation for several days, Bonnet said that settlement of the debts problem was necessary for bringing about equilibrium. Moreover, he continued, this could not be sought at the expense of credit itself. Bonnet added that creditors must help debtors to the fulfillment of obli- gations by giving them export facili- ties wherever possible, but debtors must have the will to safeguard Credit. Plan No Currency Warfare. Tt is for debtors, he went on, to show and prove their own difficulties. A too rigid procedure, however, must not be followed, he maintained. Whatever is done should be tempo- rary because more permanent measures can only be thought of in terms of the re-establishment of monetary stability, Bonnet declared. American sources, commenting on_to day’s developments, made it clear that they have no intention of starting a currency warfare, but at the same time could not fly in the face of a positive economic situation demanding the re- valuation of the dollar. High sources here asserted that there was no prospect of & return of the dol- lar to the old gold parity. If other countries have to follow the United States in recognizing that the need for currency revaluation is im- portant, American Guarters said, this cannot be considered calamitous. One American representative asserted that “we are not artificially tampering with gold, but it is the real economic situstion of the world which has taken gold by the neck and has necw\uug revaluation and a change in its use. Real progress was said to have beea made in the Monetary Committee toward reaching an agreement in the reduction of the minimum of gold re- serves which central banks must keep against currency as & step in the di- rection of a general return to a fixed monetary standard. Accept Pittman Gold Plan. The Monetary Sub-committee dealing with Senator Key Pittman's resolution mccepted his gold clauses and will so| report to the parent commission for | further action. | | Rail Sale CHINESE EASTERN NEGOTIATIONS LONG AND COMPLICATED. ‘The Soviet Union is negotiating at the Chinese Eastern Railway. The road, a dual management in which Li She Kouznetzoff, Russian representative, is v H Chinese Eastern Railway head- quarters here over the proposed sale of Russian rights in the road to Japan. While the principal points involve conflicting claims as between the Soviet Union on cne side and ownership dis- puted between China and Manchukuo on the other, there are questions in volving French, American and English interests also. The 1,100-mile line, running across Manchuria from west to east with & branch from this city south to Chang- chun, was built by the Czarist Russian government in 1903 under an agreement With the Chinese Empire providing & system of dual management. China Enters Protests. China has protested the proposed ARBIN, Manchuria (#).—Long- drawn out and complicated negotiations are predicted at sale at both Moscow and Tokio, argu-| ing that the fact that she is unable to function in Manchuria due to the force majeur which set up the Japanese- protected state of Manchukuo, does nat affect her juridical rights in the road. Manchukuo maintains that its de facto status as successor of China in Tokio for the sale of* Russian rights in , depicted on the map, is operated under ou-Keng (right) is president and M. ice president. | Manchuria gives her the right to ac- | quire the Russian share. France's interest arises from claims that French citizens subscribed the | greater part of the capital of the Russo-Asiatic bank which financed the railway in its early stages. English and American claims involve equipment and improvements. There “were, for example, $4,000,000 worth of improvements made when John W. | Stevens, American engineer, was chair- ! man of the inter-allied railroad com- | mission during and immediately after | the Kerensky regime in MOSCOW. ! U. S. Locomotives Figure. Both Anglo-Saxon elements are in- terested, too, in the disposal of 80 locomotives and other rolling _stock which Manchukuo claims _ Russia wrongfully took into Soviet territory last year. The locomotives, records | indicate, were purchased from Ameri- can manufacturers by the United States Government for the Crarist | regime in World War days, payment being guaranteed by Great Britain under the terms of a war loan. Since England hes paid part of that | loan, lawyers assert she has a claim | on the locomotives, subject to the bal- ' ance due the United States. increasing purchasing power to start business moving again. An indication of this was given in the address of Senator James Couzens of Michigan, who asserted an increase in demand for raw materials afforded by the American public works program offers “far more hope for world re- covery than can possibly be expected merely from a reduction in tariff duties.” Many Questions Pending. Moley, it is understood, is of like opinion, and- it was predicted the American group will seek the co-opera- tion of other nations in measures de- signed to put men back to work and increase prices. The arrival of Mr. Moley was on & conference scene on which these epi- sodes were developing: Continued French efforts to peg the ;rnl;xc and the pound, without the ollar. Australian objection to a whelt-{ restriction and _price-raising project. tentatively accepted by the United States, Argentina and Canada. India’s indicated adherence to the American silver rehabilitation plan The plea of the British chancellor These gold clauses assert that gold|of the exchequer for negotiations be- | energetically as possible in bringing | about these blessings.” The assistant secretary, who had | conferred with President Roosevelt be- | fore his departure from America, pre- | viously had planned to take an air- | plane to Croydon Airport from Cobh, | in order to save time so he could join in the deliberations immediately. | “Surely, as all nations, big and liitle, Lare represented at the conference” he said, “it cannot but be productive of good. |~ “As far as I can judge after being | on the water a week, definite progress is being made in accordance with the original program of procedure. “That program gives the scope, in | | experiments necessary for the correc- | tion of the world-wide condition now | existing, which, happily, shows signs for betterment. Expect Agreement. “Each country has a contribution to make toward that end, and each will make it.” | The American added that “all my re- ports are that everything is going on according to plan.” One reporter. pointed out that Eng- | lish newspapers over the week end had | | President Roosevelt’s phrase. for bold | should be re-established as the inter- national measure of exchange values, that its use should be confined to em-| ployment_as cover for circulation and | as a medium for settling international | balances, and that it should be with- | drawn from circulation. The Pittman resolution also calls for | & reduction in the minimum cover re-| quired for currencies and for the use of silver with gold in that cover. ter Ramsay MacDonald f Great Britain, president of the par- | ley, called a meeting of the conference Steering Committee for tomorrow aft- ernoon to consider the progress of con- | ference work and to lay plans for ex: pediting it. This development wa taken in conference circles to be inti mately connected with the arrival to- night of Assistant Secretary of Stat v, who is coming to Lon- 1 President Roosevelt ve his opportunity | with the American te Steering Com- | ie conference ini ing him to bring fresh n from the United States I assist in the progress of the Attitude of Waiting. ay's meet confer- e Wash- ations, ese, de- an do is and see what were WOODSON'S NEW ELECTRIC VIBRATING GUARANTEED ALL COAL NO DIRT HE 1an ever. n now with t anthracite co: Prices Up July 1st Buy Now, Use Our Convenient Pay Plan Phone NOrth 0177 A. P. Woodson Co. 1202 Monroe St. N.E. Coal—Fuel Ofl tween debtors and creditor: Negotiations between British and Russian foreign ministers for resump- tion of trade between those nations. Plans of Secretary of State Orestes Ferrara of Cuba to ask for world- wide co-operation in restoring sugar prices. Expressions of dissatisfaction in Jap- anese quarters for progress of the parley. MOLEY REACHES IRELANE. Gives Up Plan to Fly to London and Remains on Liner. COBH, Irish Free State, June 27 (P).—Assistant Secretary of State Ray- mond Moley, who had intended to land here and fly to London, where he will attend the World Economic Conference. changed his plans today and decided to proceed to Plymouth aboard the steam- ship Manha to reach Ply- ay (1:30 p.m. nd Moley, mouth about 6:3 Eastern therefore at 11:30 pm ard ti proach to Irish soi ce State and the Economic t I go there m en route to iging to Secretary Hull on, and his réports of d legisiative develop- the as- Swope and my ow conference s n the road to results nation and to the my ¢ rded as beir to each rica is eager to participate as expressed pessimism over the confer-, outlook. urely peopls in Europe are not taking that attitude.” Moley declared. Turning to Swope, he asked, “Have you ever met a conference where the People were on the point of breaking t one period or another which come to an agreement in the ence Swope nodded in agreement. “As far as I know,” he replied, thing looks hopeful.” UNDERGOES '.I'RANSFUSION every- Involves 7 Nations Im,m],[m PRUHT SSHOWNBYRF.C Income Derived From Inter- est on Loans of All Kinds for 16 Months. By the Associated Press The Reconstruction Corporation made about $26,000,000 between February 2, 1932, and May 31, 1933. | The reports of the corporation to Conress show an operating surplus of $17,802,000 up to December 31, 1833, and a surplus of $8,228,778 accumulated between January 1, 1933, and May 31, a total of $26,030,778 for the 16 months. The income was derived from interest on loans of all kinds. But the corporation will not do so well hereafter. Congress attended to that. It directed the corporation to give the emergency relief administrator $500,000,000; the Federal farm admin- istrator $300,000.000 and to supply $200,000,000 to the Home Loan Cor- poration. The relief money will never come back. Just Banking Now. Meantime, the corporation has with- drawn from virtually all activities ex- cept those of banking and supplying money for other Federal offices. dating properties designed to create employment was transferred at mid- night last night to the new public buildings administration. The emer- gency relief activities of the corpora- tion ended a month ago. As a result of newly enacted legisla- tion, the corporation reverts virtually to its original status as an agency for lending money to banks, insurance com- panies and other financial institutions and railroads. The following statement was issued by Jesse H. Jones, chairman of the corporation board: “Loans totaling $217,565,383 had been granted by the Reconstruction Finance Corporation when the self-liquidating phases of the corporation’s work were turned over to the Public Works Corpo- ration at the close of business yester- day. The loans ranged from $500 to $61,400,000 and covered 37 States. “In transferring to the public works administrator the record of all applica- tions which the Reconstruction Finance Corporation hes either deferred or de- clined, it is sending to the new author- ity projects the applications for which total more than $500,000,000. Deferred Some Loans. “More than $250,000,000 is included in the loans which the corporation in recent weeks has deferred for reference to the public works administrator and more than $300,000,000 in these which the board, because of the limitation im- ! posed upon it by law, had previously | been forced to decline. The number of { applications which were deferred for consideration by the public works ad- ministration totaled 96 and information totaling 340 loans that have been de- clined will also be available for consid- eration by the new body. “All of the deferred or declined ap- plications are to be transferred to the public works administrator for consid- eration and study. The facilities and the organization of the corporation are available to the new agency in the public works program of the President. “The emergency relief and construc- tion act became a law on July 1, 1932. The first loan was authorized on Sep- tember 13, 1932, and the last today. “Self-liquidating _requirements pre- vented granting of many loans that would have served a good purpose. | to bring the applicants within the scope of the act. This often required weeks | of work in which agents of the corpo- | ration devoted as much time as those | seeking the loans in perfecting the ap- | plication.” STEVENS IS SWORN Taking of Oath Brings Trade Com- mission to Full Strength. The Federal Trade Commission today stood at full strength for the first time in nine months following the swearing in yesterday afternoon of Raymond B. Stevens, Democrat, who succeeds the late Commissioner Edgar A. McCul- lough. Recently, former Representative Ewin L. Davis of Tennessee, a Democrat, succeeded as Commissioner C. W. Hunt, | Republican, who was not reappointed by President Hoover last September when his term expired. | The three other members of the | commission, including Chairman March, TO AID SERGT. WILSON| E. T. Johnson First to Answer)| Call for Volunteers—Two Others Ready. Onc policeman already has undergone a tr n eflort to save the life rgt. H. K. Wilson, veter icide d chief, who is cr 1 in George Wa gton Uni- versity Hospital ing held in needed. T asfusion in of Detecti ti should they be Johnsor n inspector with tment, s fter headquart e 2d been sent to today for v homicide s ish e being held in readi- blood. They were who voluntecred. William Du- and Pvts. W. Don’t Say .We Haven’t Warned You! UALITY Pain t Prices are positive- Iy to be ADVANCED within the next FEW D painting to be done the benefit of the old conside Quality paints Moore's and cost no more today paints after the raise in You'll want to “RET with this extra EC your paint NOW! W.R. W AYS—and if you've we want vou to have prices. Means a very ble SAVING. such as Devoe Paints / than will the cheap rice. IVIZE" do it JONOMY of buying inslow Co. You are sure of getting quality paint at thes ains ardwal Chesy Chase Paint & Hardw Silver Spring Paint & Takoma Paint & Ha e stores. in Ave. Copmecticut Ave. eorgia Ave. Laurel Ave. re are | and two others are be- | d to the trans- | EISEMAN SEVENTH AND | are_holdovers F NOTHING DOWN Just Pay $4.50 Monthly SUITS 1 3.50 NOTHING DOWN Just Pay $4.50 IN JULY $4.50 IN AUG. $4.50 IN SEPT. Get ready for the big out- ing over the “4th"—Select one of these cool, better grade Summer Suits now. They are perfectly styled and tailored in the best possible manner. Al col- ors and sizes. District’s Heroes in the World War ROPER, JOBNSON END DIFFICULTIES Declare Reported Dispute Over Industrial Control Is Cleared Away. Compiled by Sergt. L. E. Jaeckel. 8 recorded in the official cita- tion, William K. Harril, lieu- tenant, United States Navy, was awarded the Navy Cross for exceptionally meritorius and distinguished services in a position of great responsibility in the line of his profession as aid on the staff of the commander, dur- ing the mine lay- ing operations in the North Sea. Lieut. Harril was| responsible for the maintainance and operation of radio and signal com- munications of the mine-laying vessels | and naval vessels arriving in the ‘The reported dissension over author- | ity to administer the industrial control section of the national recovery act was reported today by both Secretary of | Commerce Roper and Administrator | Hugh S. Johnson as having been cleared away. | The Cabinet Advisory Committee, of | which Roper is chairman, held a con- ference late yesterday, which was at- tended by Johnson. After it was over Johnson, in answering newspaper men's queries about the friction report, said: | 300,000 VETERANS TO GET INCREASES UNDER COMPROMISE _(Continued From First Page.) these boards as this class of cases will be automatically referred to the boards. The administration announced there would be no reduction in the amount compensation received by widows, children and independent parents of World War veterans, except cases in which there was evidence of fraud or misrepresentation. Widows, children and dependent par- ents of veterans who died from dis ease or injury from active service du the Spanish-American War, Boxer War or Philippine Insurrection will Teceive the same treatment. Under the new regulations, the ad- ministration said, the basic rate of pav for disabilities directly connected with service would range from $9 to of $90 per month, instead of $8 to $80 as provided under the economy law, With hfirs‘r rates for extremely severe dis- abilities. Rated in Multiples of Ten. A further change is in revising the rating schedule, which until now has been in five brackets of percentage of | disability, 10, 25, 50, 75 and 100. Henceforth veterans' disabilities will be rated in percentages in multiples of 10. such as 10, 20, 30, and so on up to 100. The rate of payment for non-service connected permanent and total disabil- ity is increased from $20 to $30. Spanish-American War veterans, in- cluding soldiers in the Boxer rebellion and the Philippine insurrection, who | served 80 days or more, were honorably harged. are 55 years of age or over, are 50 per cent disabled and in need, will receive $15 per month Spanish War veterans over 62 years of age, who were in active service, were in 90 davs or more, and were honorably discharged. will receive a like amount. The basic difference is that the 52-year- old veterans will not be required to show need or be 50 per cent disabl | | | ‘The making of loans for self-liqui- | Every effort was made in all instances | north of Scotland. His energy. zeal and foresight en- abled the vessels| to adjust the for- eign codes and ciphers without mishap or interruption. On account of the very small staff it was necessary to utilize this officer for much additional duty in connec- tion with the planning and execution of the mine-laying operations. Later, during the mine-sweeping operations, as the senior officer present on the staff, he was charged with the details of the administration of a force con- sisting of from 50 to 75 vessels. His devotion, zeal and relentless efforts in this responsible position highly merit the award of the Navy Cross. With the rank of lieutenant com- mander he is on duty at the Naval Alr Station in Washington, with resi- dence at 1720 Twentieth street north- west. 400,000,000 NAVY BUILDING IS SEEN Huge Program to Come From Public Works Money for Station Improvement. By the Associated Press. High officials hope to spend $400,- 000,000 on the Navy during the fiscal year that begins Saturday. Already $238,000,000 has been set aside by President Roosevelt from public works money for new-ship con- struction in a three-year program. Sec- retary Swanson has fixed $46,000,000 as the minimum for the first-year ex- penditure on 32 vessels. This brings the fiscal year’s assured expenditures — $270,000,000 of cash | withdrawals from regular appropria- tions plus the $46,000,000—to $316,- 000,000. | But in addition the Navy plans shore station construction and plant moder- | nation ashore and afloat to cost about| $84,000,000. To do this, though, it must get that amount from the public works | fund in a new allocation. ‘Then 1934 naval construction plans| would set up like this: $40,000,000 for ships under construc- t jon. $46,000,00 for starting the 32 new ships. $84,000,000 for modernization and | construction ashore and afioat. i No allocations for shore construction have been made. Neither have all the | 16 new vessels Navy yards will build been allotted to them. But once work is begun officials hope the public works | funds will have jobs for a number of per diem and annual Navy Yard em- | ployes. | Boswell, famous as the author of what is perhaps the finest biography in the language, is said to have written for the newspapers under at least 45 pseudonyms and it is practically im- possible to trace all his writings. |is no dissension. | policies of the administration. ‘en and Mrs. Russel McNair. “That's a lot of bunk. Hell, there I coulén't have had more help if I had written the ticket myself.” It had been reported that Roper and Johnson were at odds over who had the final authority in approving the There was also friction reported in regard to employing of workers for the admin- istration and the setting up of the organization proper. Threatened to Move. Roper suggested that Johnson take over certain divisions of the Commerce | Department, to be used as the basis | for his organization. Johnson is re-| ported to have refused and threatened to move his headquarters from the Commerce Department Building. Roper told 49 industrial and financial leaders yesterday that the Cabinet | Committee for Industrial Control was | “the commander in chief under the President.” Asked what this meant, Roper said Johnson would be the de- ciding factor, “in the unlikely event of an honest difference of opinion” be- tween him and the cabinet board dur- ing President Roosevelt's absence from ‘Washington. Later, the press depariment of the In- dustrial Control Board issued the fol- lowing statement regarding the so- called peace parley: “The special board, headed by Sec- retary of Commerce Roper, completed arrangements for housing of the Na- tional Recovery Administration in the Department of Commerce Building and committed the handling of disburse- ments and personnel of the adminis- tration to established agencies of the Commerce Department. Consider Salary Scales. “Details of employing the statistical agencies of the Departments of Com- merce, Agriculture and Labor in the collection of the necessary statistical information for administration of the act were referred by-the special board to a subcommittee, including Assistant Secretary of Commerce John Dickin- son and Dr. Alexander Sachs, economic adviser of the administration. ‘The special board also gave con- sideration to salary scales to be em- ployed by the National Recovery Ad- ministration and to the question of public relations. Assistant Attorney General H. M. Stephens presented a report on the procedure to be followed by the administration in handling pro- | posed codes. Preliminary considera- tion also was given to the matter of handling the oil industry.” In addition to Roper, Johnson and Dickinson, other members of the board present at the meeting were Attorney General Cummings, Secretary of the Interior Ickes, Secretary of Labor Per- xins, Assistant Secretary of Agriculture Tugwell, Chairman Charles H. March of the Federal Trade Commission, Di rector of the Budget Lewis Douglas, As- sistant Attorney General Stephens, As- sistent Secretary of Labor ‘Turner W. Battle and E. Williard Jensen. FLORIS, Va. June 27 (Special).— The Ladies’ Auxiliary of the Floris Presbyterian Church will hold an ice cream and cake supper in the Floris School tomorrow evening beginning at 6 o'clock. The Committee on Arrange- ments is composed of Mrs. W. D. Mid- dleton, chairman; Miss Mabel McLar- | SUMMER DURING THIS SALE NO REFUNDS OR EXCHANGES ALL SALES FINAL LESS THAN 50(: l":lIE We bought every piece of ready-t His stock wasn't large . . . but he k of excellent quality! So we enlis BE ON a most sensational sale! IT'S THE LAST DAY! Graceman’s & Breslan DRESSES $9% $49% § ]9 Values from $595 to $8.95. Summer frocks of washable slks, prints, chif- fons &c. All sizes. Values $16.50. from $8.95 1o Swagger jacket models, one-piece _styles, crepes, &c. All sizes as well as half and ex Values $29.50. street dresses, party frocks, &c. Al sizes well as half and extra stout from $10.50 . to Evening dresses, e, THE FIRST 200 WOMEN MADE HAPPY with these dre. dresses included—light and of the materiala, l Breslan 1109 cally every kind of Summer and early Fall and the selling price does not cover the cost Sales People and Fitters! LAST |Entire Stock of Graceman’s together with hundreds of fine #reslan DRESSES and COATS at DOLLAR! o-wear Mr. Graceman had in stock! new the bus and stock was ted the cooperation of our manu- facturers and are offering our own quality merchandise to make this HAND EARLY TOMORROW . . Graceman’s & Brrslan Coats and Suits Formerly priced $10.50 to . Phic cloths and $3 95 512% styles. Buy now for fall wear. All sizes. Formerly from $19.95 to $29.50. Fur-trimmed and self-trimmed. Every one silk lined. All popular colors. Al sizes. Formerly from $24.75 to $49.50 fur- trimmed and tailor- models of season’s best sellers. Fine fur and colors. All sizes, Former $10.50 Graceman’s & Breslan DRESSES WILL BE Practi- All Sizes 12 to 54 dark colors F ST. ®reslan elerrace atthe orenam Wednesday, June 28th “A CARNIVAL"IN VENICE” Venetian Dancers and Music “Barnee” and his Riviera Orchestra Mazim Lowe's Music Special Dinner, $1.75 No Couvert Charge for Dinner Patrons Remaining through Supper Reservations by “ROBERT” at The Shoreham Hotel, ADams 0700 Phones: Met. 0844—35 Be Comfortable on your 4th of July trip That means two things—comfortable in body —and in mind—which leads to Glenbrook * Southern Tropicals —because these feathers weights will keep you “cool as cucumbers”—with that gratifying consciousness that you are well dressed. Pick them out! You can be sure you are on the right side in price, too! Glenbrook Tropical Worsteds 2-piece 3-piece $14.75 $1975 Fashion Park Tropical Worsteds Three-piece suits—exclusive patterns and designs. 29 Imported Linen Suits Coat and Trousers $12% and 515 Palm Beach Suits Genuine weave; white and all the pop- ular effects. Serge Trousers Bedford Cord stripes $675 Sports Coats Belted and plain models $1175 Japanese Beach Robes Cotton crepe; with slippers and carry- ing bag to match. $1.79 Windsor Krinkle Crepe Shirts No starching nor ironing—just wash and it's ready for service again. Plain shades, including white; and stripes. Collar attached. $1.55 3 for $4.50 New Mesh Sport Shirts Half sleeves; zipper front. Variety of smart, plain colors $1.00 Mansco Bathing Suits Made by the Manhattan Shirt Co. All- wool, one-piece model. A wonderfully attractive and practical suit. $1.95 Scarce White Buck Shoes We've plenty of the Whitehalls now in all sizes. 5650 On the Corner F at Eleventh The Mode