Evening Star Newspaper, November 2, 1933, Page 1

WEATHER. (U. 8. Weather Buresu nmmc:‘m Cloudy tonight; tomorrow oc rain; mild temperature followed by colder tomorrow night and Saturday. Tempera- tures—Highest, 74, at 3:00 p.m. yester- day; lowest, 52, at 2:15 a.m. today. Full report on page 9. Closing N. Y. Markets,Pages13,14&15 Entered as second class matter post office, Washington, D. C. No. 32,692. he Foening Sfar WASHINGTON, D. C, THURSDAY, NOVEMBER 2, 1933—FORTY-EIGHT PAGES. L L] Plan Issue of Silver Certificates Against June Debt Payment LABOR IS EXPECTED T0 DEMAND SHARE INNEWN.RA.PLAN Johnson Supports Swope’s Proposal for Industry to Discipline Itself. $11,000,000 in Paper | May Result From Metal Being Assayed. By the Associated Press. The Treasury may soon issue $11,- 000,000 in silver certificates, backed by silver received in last June’s war debt payments. The Thomas amendment to the farm law, which authorized acceptance of debt payments in this medium, required that the silver thus received be made the backing for an issue of certificates. ‘The process of assaying the metal received has just been completed. Engraving Next. g ot the Corincaes, ¥ the enerav- Treasury officials denied today that Ithis could be considered infiationary, | as the certificates will be used in the normal course of business to replace By the Associated Press. | other forms of currency as they are| Business sought today to foretall - ey i gt the Trensury for re.| Sections which labor might have to 8 | demption. iy ew plan for following temporary N. R. ere was no statement as vet as to A wina Ppermanent set-up under which ' What = demominations the ~certificates i Industry would govern its own affairs| under which the course will be lakeni through a single unit and with a min- reads: | i | “The Secretary of the Treasury shall imum of Federal supervisfon. | cause silver certificates to be issued in The idea behind the plan had the| guch denominations as he deems advis- support of Hugh Johnson, recotery ad- | able to the total number of dollars for ministrator, who told newspaper men: | which such silver was accepted in pay- “It's a kind of a goal to shoot at if ment of debts. Such silver certificates fwe ican each L= | ~ (Continued on Page 2, Column 5.) But the proposal, advanced by Gerard | e = Swope in a meeting with some of the | SprEe s e Nation’s leading industrialists and then | referred to a committee for study, made | no reference to labor representation in | the unit, which would govern all busi- ness and industry through codes. S'l'RlKE PEAGE KEY Labor, under the N. R. A, has ob- tained representation on many boards and councils, and even an indirect voice Union Committee, Asking | Audience Here, Fears Strike if Plea Is Denied. WORKER PARTICIPATION NOT YET MENTIONED Author of Idea Says He Does Not| Intend to Scrap Present Effort, in the boards administering the present codes. The recent American Federation of Labor convention voted to seek greater representation. Action at Present Doubted. Meanwhile Louis Kirkstein, Boston merchant, today was elected chairman of N. R. A’s industrial advisory board, succeeding Walter C. Teagle of the Standard Oil Co. of New Jersey, retiring from the board. Kirkstein, an executive of the Filene | G T Co., has been with the advisory board | S | for some time and has been especially| UNIONTOWN, Pa, November 2.— active on the National Labor Board in | Striking miners warn that “open war- the settlement of strikes and disputes. | fare seems certain” if steel company- U.S. STARTS BUYING GOLD FROM FRANCE IN SMALL AMOUNTS Administration Again Boosts Price of Domestic Output to $32.36. {LONDON QUOTATION RISES FROM $31.52 TO $32.11 Dollar Remains Weak, Declining Overnight to $4.82 to the Pound, PARIS, November 2 (P.—The Federal Reserve Bank hgln buying gold in Paris today with the pur- chase of a small amount from the Bank of France. A similar transaction was under- stood to have been made in London. A recent heavy flight of capital from America was reported by exchange ex- perts. One individual today was said |to_have purchased a million dollars of gold. = The identity of the Federal Reserve's agen; here was not disclosed, but bank- ers said they believed the instftution was dealing directly with the banks of France and England. Exchange traders described the Re- serve Bank's purchases as too small to meke a deep impression on the market and said he believed the Reconstruc- tion Finance Corporation intended to hold gold purchases to the minimum. By the Associated Press. The Roosevelt administration today ! dangled before the world an offer to buy all the foreign gold that is ship- ped to this country, and again advanced | the figure st which the R. F. C. makes purchases of the new output of domestic gold mines. For the latter a price of $32.36 an ounce was established, with $32.26 yesterday. Meanwhile, the bullion quotation at London, presumably in response to the Roosevelt plans, rose from $31.52 yes- terday to $32.11 today. c‘efi’:bgge;dx’:ef‘ifufi:cp'si;p‘::s";?f; | owned colleries are opened “before the for full self-government for industry to J men get an understanding” of a peace be put into effect at any time in the ! plan drawn up by President Roosevelt near future. Dollar Declines Overnight. The dollar was weak, declining over- night to $4.82 to the pound. It also weakened against the franc. as compared The only evening paper in Washington with Aw_niated Press news service. Yesterday’s Circplation, 11 (®) Means Associated Press. 7,199 TWO CENTS. Lee 2 777 192 7P i N VN5 L it T B = ,"’Jr\\ ¢ AGE LIMIT RULING FIGHT STILL RAGES ' Miss Perkins Launches Study as Senators and Others Protest. Secretary of Labor Frances Perkins returned to her desk today and im- mediately plunged into the controversy which has raged since the Civil Service | Commission announced a policy of not holding examinations for persons over 40 for Government positions. | Miss Perkins went into a study of the | The administration, they contend, will not relax the close Government super- vision now instituted over codified in- dustries for a long time. Green May Demand Place. ‘William Green, president of the labor federation, was reported out of the city as Swope explained the plan, but some of | his friends said he was very likely to| insist upon worker participation in the proposed new set-up. Swope's proposal, briefly, would merge into an enlarged National Chamber of Commerce all the trade associations for industries now operating under codes. A board of appeals would act as supreme arbiter. The Government would be rep- resented on this board through presi- dential appointees; labor not at all, unless one of the presidential appointees, whom Johnson said would have absolute :fto power, were a worker representa- ve. Foreseeing that there might be labor objections, Swope said in a statement: “There is nothing in my proposal in- tended to supplant N. R. A. or to set up any industrial self-discipline without governmental participation, or to omit the organization of labor, parallel with | the organization of industry.” Urges Self-Discipline. “What I proposed was my personal 1dea of a goal for ultimate attainment. | It 1s built on the thought that indus- trial organization is necessary to indus- | trial self-discipline and that, I take it, is intrinsic in the industrial recovery act. “There is no difference of opinion between the Recovery Administration and myself and my temporary relief by another industrialist on the Advisory Board does not separate me from the | N.R. A Tamstill on the Labor Board of N. R. A. and my services are at all times available to the administrator.” Despite big gains since N. R. A., labor | leaders say they are having difficulty | organizing as rapidly as industry. The membership of the American Federation of Labor has risen from slightly more than_2,000.000 to above 4.000.000. ~Yet A. F. of L. spokesmen point out they offclally Tepresent | only about one-sixth of the Nation's 25.000.000 workers. whereas each trade association is supposed to represent more than half its industry. Jonhnson, in giving his general in- dorsement to the Swope proposal. re- marked that greater labor organization would be needed to obtain equal | strength between the employe and em- | ployer and then added: | “I think business eventually will help | labor to attain that strength.” Opposes Mere Bureaucracy. | Henry I. Harriman, president of the | Chamber of Commerce of the United States, was responsible for the industri- alists Teferring the Swope plan to a committee instead of acting upon it immediately. He remarked: “The N. R. A. will be a failure if it becomes simply a Government bureaucracy. This is an endeavor to give it the full support of at least one (Conunfled on Page 4, Column 4.) TYPHOON KILLS SIX Nine Injured as Terror of Southern Seas Hits Philippines. MANILA, P. 1. November 2 ().—A typhoon spread death and destruction over the Southern Philippine Islands today. Six persons were killed and nine in- jured in Oriental Negros Province on Visayas Island, Gov. Segundo Gaston reported to the interior department. Other governors told of heavy damage and appealed for Red Cross aid ‘The typhoon centered on Iloilo, sec- ond largest city of the islands, the Weather Bureau said. It described the typhoon, terror of the Southern Seas, as of moderate intensity. l Guide for Readers Amusements Comics .. and the operators. A miners’ committee of eight, seek- |ing an audience with the President, asserts that “a very dangerous condi-| tion exists in Fayette County,” where| workers are refusing to return to the | pits without union recognition. “Men are very much confused about the settlement,” says a wire sent to| Mr. Roosevelt. “If mines are opened before the men get an understanding | very serious outbreaks may result,| | which may result in loss of life.” | Leaders Refuse Return. | | | | | | More than 100 local leaders. who | claim to represent 15,000 coal diggers, | last night decided against immediate | return to the pits, as had been ordered | by high officials of the United Mine Workers of America, and appointed eight men to see the President. | Their mild-mannered, but sharp- tongued leader, Martin F. Ryan, was named chairman of the committee. | Seeing that he was hopelessly outnum- bered, William Hynes, 130-pound dis- trict president, who had urged the men | to return to work, agreed to ask Mr.| Roosevelt for an interview. He was made a member of the committee. Other members, all husky miners, are Patsy Minerd, Howard Hall, Ralph Courley, Andy Richie, Sam Lynch and Dan Sabula. Tall, with large blue eyes, dark hair that is tinsled with gray, and gangling arms, Ryan has been an implacable foe of the H. C. Frick Coke Co.’s non-recog- nition policy. Sees Miners Tricked. | In his rich Irish brogue he has ham- mered into the miners day after day the | & idea that the Frick concern, a United States Steel subsidiary, will “trick” them unless forced to sign a union contract. Hynes, another son of Erin, whose | | father, Patrick Hynes, was one of the | original organizers of the United Mine | Workers of America, more than 40 years | ago, is a_much more fiery speaker than Ryan. Wiry. with dark complexion, but light bair, he does not stand higher than 5 feet 6. es was appointed to head the tur- | bulent fourth Qistrict of the union two | Weeks ago after William Feeney. vet. eran leader, resigned. He has been an organizer for many years, with long ex- pereince in handling strikes. Personal Request Hoped. Hynes said last night he believes the | men will agree to return to the pits if they hear President Roosevelt personally | request them to do so. Ryan said the committee will seek amplification of the captive mine agree- | ment and assurance from the President himself that it means union recogni- tion. ~He added: | “We have 90 per cent of the miners enrolled as United Mine Workers and | | we want these men recognized before they re-enter the pits.” Mine operators indicated they do not plan to attempt to reopen the pits im- mediately. A spokesman for oge of the companies said he expected this move “about Monday.” COTTON MILL REOPENS. 2,000 Return to Work In Augusta as Pickets Leave. AUGUSTA, Ga., November 2 (, Under an agreement of union leaders to withdraw pickets, the Jonh P. King Manufacturing Co. mill reopened here today, the second textile plant to re- sume operations after labor troubles | paralyzed the cotton mill industry here. | Resumption of operations at the King | mill and at the Riverside mill yesterday will mean re-employment for 2,000 and the Augusta Herald said conferences | concerning strike troubles at other | plants employing an additional 2,000 | were planned during the day. labor situation was reported quiet in the Horse Creek Valley, in nearby South Carolina, where the mills are running. 1,400 RETURN TO MINE. Shaft, Ceased by Flooding, Is Reopened in Pennsylvania. LANSFORD, Pa,, November 2 (#).— Idle three months, the Lansford Col- liery of the Lehigh Navigation Coal Co., Tesumed operations today with a force of 1,400 men. The mine was closed after bel:;g flooded by high water which cover two electrically-operated pumps. | well. Higher prices is the first objective Detl':!‘f e:l ;lam]lg;n pu{;:]hlsms “:!‘,ntulnon following a request from the imported gold, Includitg the price 10/ pregigent made yesterday after the mat- be paid, remained undisclosed. as did | (¥ CET TG SO (0 s attention. the siatus of negotiations with Great | **iil% St 'Seortiary i inown to e Beifala | personally against the barring of per-| These were undertaken for the pur- | S Cler’ 40 Grom getting hew positions, | pose of avoiding & currency depreciation | pgving announced as a general economic ‘ race between the two countries @s & poNc® i tegarded any discrimination result of the American operations. | goaingt emiployment of persons-over 40 | The theory behind Mr. Roosevell's| go"very short-sighted at her press con- program is that if gold prices can be | forence Tuesday. She was preparing raised and held at a high level both oday to make appointments with mem- | here and abroad there will be an auto- | pers” of the Civil Service Commission matic adjustment which will carry do-| anq bureay heads in the various Gov- | mestic commodity prices upward as|emment departments whose advice is believed to have been followed by the of the President's recovery program. e B e it iy Teraiatog | Making known the first step in the | jis recent policy. | buying of foreign gold, Chairman Jesse e | H. Jones of the R. F. C. last night an-' o Time Ne - nounced that the New York Federal | No definite time has been set for Reserve Bank would pay for imported | these conferences. | gold in R. F. C. notes, with which the | Miss Perkins already has made a| newly-mined domestic metal also is | casual study of the situation confronting bought. | persons of 40 and over who have ap- (Jones made his announcement in his ' plied for Government positions. She | National Radio Forum speech over the has stated that she personally feels| National Broadcasting Co. Nation-wide that older heads in the Government | network. appears on page B-8.) Direct Dealings Avoided. By this plan it appeared the Govern- | ment has avoided direct dealings in foreign gold and exchange markets, leaving them to individuals and firms choosing to ship gold here. The effect of this upon world gold rices and the exchange value of the dollar and the pound, economists said, would be virtuaily the same as though the Government were making the pur- | chases direct. American firms importing the gold, it was explained, would have to buy ounds or francs to pay for it abroad, thereby depreciating the dollar in rela- tion to the British and French mone- tary units. Europeans who choose to send the gold here will be paid in the R. F. C. notes, readily convertible into dollars, |and then would have to convert the dollars into the currency of their own country The result would be an offering of qollars for pounds oF ITancs, Just as in the case of an American making the transaction. 3t was sugsested unomcially that the imported goid price might be the same as the daily quotation for ‘mined metal. If this eventuates, and the admin- istration continues to hold the domestic figure above world quotations, it was asserted, the world price would rise to a level very close to the American figure, or else there would be huge ship- ments of bullion to the United States. After the fixing of today's price, Jones remained in consultation with Under- secretary Acheson of the Treasury De- partment for half an_ hour. He declined to make any comment, but promised an announcement later. R e i T ey CONDEMNED KILLER MAKES VAIN DASH Scheck Captured in Elevator After Breaking From Bull Pen in Chicago Jail. be t! newly By the Associyted Press. CHICAGO, November 2.— John Scheck, desperate young killer awaiting execution for the murder of a policeman in a criminal court room, broke loose again today from the bull pen of the county jail, but was recaptured a few moments later in an elevator. Scheck had been arraigned on & rob- bery charge and was waiting in the bull n for return to his death cell when e tore away from his guards. He dashed into an elevator, slammed the door shut, but was unable to operate the lift and after a 10-minute siege he opened the doors and raised his hands in surrender. Twice before the young has tried to escape, once wounding a police- man at the Detective Bureau and a few weeks ago killing Policeman John Sevick hrough a criminal court 3 o the murder. Subsequently he was con- in the robbery for which he was origi- nally arrested. | victed of the murder of & bank cashier | perity. | low industry.” The full text of the speech | as well as any other indusfry are neces- sary, because of their maturity, their ability to weigh their decisions and their general experience. “Personally,” she said earlier this week, “I prefer to work with older peo- | ple and I do not see any great, disad- vantage that might acrue to a person simply because of age.” She also has expressed herself as re- garding the Civil Service Commission’s | action as a bad example to industry, al- though she has admitted that the Civil | Service Commission seems rather to fol- Capper Voices Opposition. Senator Capper of Kansas, ranking Republican member of the District Committee and formerly chairman, to- day added his voice in opposition to the recent ruling of the Civil Service Commission limiting employment in the civil service to 40 years of age. o= amsunghy opposed o ey sl (Continued on Page 2, Column 5.) PAWNSHOPS RAIDED “Aunt Dorothy,” Austria’s Govern- ment Loan House, Is Searched. VIENNA, November 2 (#).—“Aunt Dorothy,” Austria’s government pawn- shop, was raided by political police to- day and five employes were lrresled‘ and charged with organizing Nazi prop- | aganda machinery within this nation- wide lending instifution. SENATOR KENDRICK. KENDRICK STRICKEN WITH HEMORRHAGE Senator Near Death From Cerebral Attack, Suffered at Work in Wyoming. By the Associated Press. SHERIDAN. Wryo.,, November John B. Kendrick, cowboy who be- came a United States Senator, was near death here today from cerebral hemorrhage. The 76-year-old Wyoming Senator. who has worked tirelessly in recent months in behalf of this State’s public works projects, chief of which is the Casper-Alcova Dam, was stricken at work last night and soon lapsed into| coma. He had been in good health | until he was stricken, his physxcxzn.s{ | said. One of the few remaining “Texas trail-herders,” Senator Kendrick edu- cated himself in the saddle, reading as_he rode. Before his entrance into NEW DEBT TALKS SCHEDULED TODAY |Acheson Says Discussions With British Expected to Continue for Some Time. “ By the Associated Press | British and American negotiators scheduled new debt talks for today, hopeful that their meeting with Presi- dent Rooscvelt might help to show the way out of what had appeared to be a | blind alley. | The negotiations have been under way | nearly a month. No definite achieve- ! ments had been reached, and there were reports which could not be downed that the discussions were about to end |~ But after an hour-and-a-half meeting at the White House, Undersecretary | Acheson of the Treasury said that an- | other meet: of conferees would be held today and that he expected the negotiations to continue for & consider- able time. | A White House statement said this: | “This was a conference on the sub- Ject of the debt settlement—a continu- ation of the discussion. The discussions will be continued. There was nothing at all final.” The conferees today still confronted a situation which had appeared to them to be a meeting between the old irre- sistible force and the immovable object. On the one hand was a continuing popular British demand that payments cease; on the other, the American ad- | ministration’s belief that Congress, which has the last say, still wants the debts paid in full. Involved in the talks was about $9.- 000,000,000, representing the British debt of $4,000.000,000 plus interest over the next 51 years. M’FARLANE MOORE DIES IN PLANE CRASH Son-in-Law of Late Admiral Mof- fett Killed With Pilot Off Catalina Island. | \: By the Associated Press. AVALON, Catalina Island, Calif, B.M.T. STOCK SALE BY WIGGIN SHOWN IN SENATE PROBE Denies He Knew Company Would Pass Dividend at That Time. ADMITS HE CONSIDERED SUCH ACTION PROBABLE Banker Testifies Income in Past Five Years Amounted to $5,- 881,000—Tax, $1,365,234. BULLETIN. The Senate Btock Market In. vestigating Committee today sum- moned Harry F. Sinclair, ofl cperator, and Arthur Cutten, Chi- cago trader, to testify regarding their participation In a syndidate | formed in 1928 to deal in $1,130,000 of common stock of the Sinclair Consolidated Oil Corporation. | By the Associated Press. | Evidence was presented to Senate in- | vestigators today that Albert H. Wig-| | 8in sald large holdings of stock in the | Brooklyn, Manhattan Transit Co. in | 1932 shortly before the board of du'ec-‘ tors, of which he was a member, voted | to pass a dividend. - | Previously, the former chairman of | Chase National Bank testified that his | income during the past five years ag- | gregated $5,881,000. His payments dur- | ing that time on PFederal income tax | totaled $1,365,234. i Headed B. M. T. Committee. The banker, who was head of the Finance Committee of the B. M. T. at | the time of the sales, said he did not | definitely know the dividend would be passed but thought it “probable” be- | cause of notes due to his bank. | Referring to documents, Wiggin said the Shermar Corporation, one of his| ‘amily companies, held about 26,000 shares of the stock and disposed of virtually all of it. He agreed that there was a “marked depreciation” in the price of the stock after the dividend was passed. At about the same time, Wiggin said Gerhard M. Dahl, chairman of the board of the transit company, sold large blocks of the stock he had placed with the Chase Bank as collateral on loans. “My judgment was based in part on that the had notes | the fact B. M. T. coming due to the Chase,” Wiggin told | He added that he felt the notes would | | | the investigators. not be renewed because of market con- | ditions. Pecora said the dividend was passed by the B. M. T. at a meeting of the board June 20. Pressed by Pecora. Pressed by Pecora to say he knew the dividend was to be passed, Wiggin said: “It would be a guess, I wouldn't know.” “You were paid $20,000 a year as chairman of the Pinance Committee," Pecora said, “You must have had some knowledge.” Pecora said the records showed Sher- mar sold all the 26,000 shares it held | from June 3 to June 6. The average price was $24, Wiggin said, and the stock dropped to $117y within a week. When the sales began stock was at $25. he bank sold 50,000 shares of Dahl's collateral at $24 and $25, and another 3,000 at less, Wiggin said. | the T] The story of how Chase officials dis- | | posed of their perscnal holdings in the bank’s stock just before the 1929 market ‘collapse through a pool in which one of the ‘ba.nk affiliates was attempting to “stabilize” the price also was developing today before the committee. Others in Pool Sought. The record already showed Wiggin was one of the officials who felt the stock was too high and who was selling politics in 1910, he had established a | November 2—McFarlane Moore, SON= | ¢hort The Senate Stock Market Com- cattle ranch of 200,000 acres and ac- cumulated a fortune in cattle. He is a Democrat. LIBRARIAN ENDS LIFE Greenwood, S. C., Woman Is Found Dead in Bed. GREENWOOD, 8. C., November 2 (). on its regular Catalina-Wilmington Air- | in-law of the late Rear Admiral Wil- |liam A Moffett, maval airman, and IGeorxe Baker, Long Beach, airline co- | ot tost their lives today in a byaro- plane accident a half mile offshore from here todgy i Walter Siler, pilot of the ship, was | injured and brought to a hospital here. [micsst endbronencitons socnualinae: e mittee sought today to develop th e names of others it understood also sold to_the pool. Pecora ran across this trail in trac- ing 50000 shares of the stock sold. 1o the pool by the Shermar Corporation, ggmgh the Metpotan Corporation, a company. which was a partici- pant in the trading account. Two weeks ago. Wi told the com- | mittee his corporation sold the stock to the pool because it had some it wanted —Miss Mary T. Ferguson, librarian of lines run from the airport here, of |to get rid of, and the Metpotan Cor- the Public Library here, was found shot to death in bed early todav. A pistol lay on the floor near her bed, with one chamber empty, and the coroner said she had committed suicide. By the Associated Pre: PASADENA, Calif., November 2.— Birth of a new sun spot cycle, an event eagerly awaited for months by astron- omers, was disclosed at the Carnegie institution’s Mount Wilson Observatory today. Astronomers have definitely linked sun spots and earthly magnetic disturb- ances, with which may come interrupt- ed telegraph service. Dr. Edison Pettit of the observatory found that ultra violet radiation from the sun d as the cycle ap- proached jts minimum and said he ex- pects it to increase with the turn. Ap- parent evidence, although slight, was found by Dr. Seth B. Nicholson of the ion between sun Others, not tended business follows the sun spot cycles, which average about 11 years. They can t to the fact that the cycle just cl reached its maximum in 1928. To them the new cycle will mean & certain upswing toward pros- Bcientists are investigating the rela- tion between these eruptions on the Carnegie Astronomers View Birth of New Sun Spot Cycle Scientists W atch for Weather Changes as Others See Phenomenon, Meaning Cer- tain Swing Back to Business Prosperity. sun’s surface and wireless reception, some of them declaring that increased is;m spot activity brings poorer recep- on Within the last two years stations have been established around the world from which to study and keep recards of the spots. The sun never sets on its observers. [ “A faint new spot was seen briefly about three weeks ago,” Dr. Nicholson said today, “but we decided to wait for more evidence. Another new and larger spot now has appeared. Each was of a polarity opposite that of the old ones and each was in the neighborhood n in 1913. which Moore was the director. | The cause of the accident was not | immediately known. Observers on | shore saw the ship was in trouble and boats were rushed out, but the craft sank before aid could be supplied. bodies of Moore and Baker were re- covered and efforts were started with grappling hooks to retrieve the plane | from the water. 'BANK DISSOLVES SECURITY BRANCH First National of New York Sub- mits Plan to Stockholders in Letter, By the Associated Press. NEW YORK, November 2.—The First National Bank of New York announced in a letter to stockholders today that it proposes to dissolve its security afliate, the First Security Co. Based on market quotations as of Oc- tober 30, said the letter, the Security Cc had net assets of $11.033,653, égainst debts of $10,677,449. The net remaining assets will be distributed to of | the stockRolders, who for the most part are interests closely identified with the bank. ‘The bank formed the affiliate in 1908. perations were less extensive than affiliates of some other large Wall Street banks. Its dis- tributing activities were largely confined to a small circle of interests close to the bank. ‘The First National of George F. The | | poration did not. One of the purposes | of the pool, he said, was to “stabilize” i the market. Got Stock Elsewhere. He testified yesterday, however, that the Sherman Corporation did not have | the stock when it agreed to sell it and obtained it from others. In following this up, the investiagtors found some of the stock came originally from otier Chase officials. Wiggin also testified to a profit of $4,000,000 from selling the bank stock short just before and during October, 1929, through his family companies. Under questioning, he disclosed he had not reported most of the $440,000 tax due on this profit until 1931 when it was counteracted by losses which saved him from puyl!l:fel it. The stocky banker the profit was " (Continued on Page 2, Cqjumn 8) ONE-MAN GOVERNMENT OPPOSED BY CAPPER | Kansas Senator Favors Commission Form for Handling of District Reins. Senator Capper, Republican, of Kan- sas, former chairman of the District Committee. indicated today he would form of District government in that would place one official in c! of m affairs instead of a board f three tmxt:n‘-;:smwr,mnnmu- dm.mmhdw ‘w manager ides might be all right, but not believe that system should he place of the it form, un- hich there are ‘Commission- Wmmrmmn ) :mltww: one-man type of government in ROOSEVELT AGREES 10 SEE COVERNORS FROM FARM AREA Midwest Group to Ask Price " Fixing and Quick Cur- rency Inflation. PRODUCTION CONTROL URGED IN INTERVIEWS dlson Says Agriculture Should Be Handled in Same Way as Public Utilities, By the Associated Press. President Roosevelt agreed to recelve a delegation of five Middle Western Governors late today. when they will lay before him a program calling for the fixing of farm prices and quick ine flation to provide relief for producers in their States. The delegation consists of Governors Herring of Jowa, Olson of Minnesota, Berry of South Dakota, Schmedeman of Wisconsin and Langer of North Dakota. Discussing their proposals with news- paper men, the Governors unanimously favored llcenst.rk of farmers, processors and distributors to effect higher prices and production control Olson said agriculture should be “handled as a public utility, as volun- tary action by farmers to curtail pro- duction cannot succeed as long as a substantial number of the farmers do not voluntarily join in the program.” Skeptical of Wheat Plan. He was skeptical of the reduction in the production of wheat sought by the | Farm Adjustment Administration Farmers who have not signed agree- ments to curtail plantings in return for Government price benefits, he contend- ed. will increase their sowings so as to offset the recuctions by those who signed, with the effect that the gross acreage and production of wheat next vear is likely to exceed that of average years. Herring. who called the recent con- ference of Governors at Des Moines, and Olson called on Gov. Morgenthau at the Farm Credit Administration to discuss speeding up farm mortgage refinancing. They were infoymed the number of |loans and the volume of money being disbursed for mortgage refinancing has been doubled from week to week re- cently. More than $8,000,000 in loans | were closed last week. | * Staft Boosted From 200 to 4,000. | The staff of appraisers working through the 12 Federal Land Banks was increased from about 200 last March to more than 4,000, who are now at work averaging eight appraisals each per day. | Morgenthau said he has established a | special section to deal with farmers facing immediate foreclosure as a result of his recent invitation to have all | of these farmers telegraph him, collect, in cases where they are unable to obtain other immediate financing relief. This invitation was recently reissued by President Roosevelt and during the next four days Morgenthau received 581 | messages. The average number of daily | messages now rarges from 25 to 50. | " Berry and Langer said early receipt | of Government cash benefits to wheat | farmers will greatly aid farmers in the Dakotas. y planned to ask Presi- dent Roosevelt to encourage the speed- ing-up of these payments to the maxi- mum, but feel that the fixing of prices at an early date is ‘essential to the success of the farm program.” Farmer's Buying Power Drops. Pre-war purchasing rower for the farmer—the goal of the farm adjust- ment act—was further away from mathematical realization today than on | May 15, three days after the act be- came law. A dozen major programs had been | T (Continued on Page 2, Column 1.) 'HUNDREDS OF ARABS - DISPERSED BY PLANE ;Demomtration Marking Anniver sary of Balfour Agreement Blocked. By the Associated Press. JERUSALEM, November 2.—A& low- | fiying airplane today dispersed hun- |dreds of Arabs from Wadi Hawareth | who were moving toward Tulkarem, where they intended to participate in a demonstration in connection with the sixth anniversary of the Balfour decla- ration. The Balfour declaration set out Great Britain's intention to facilitate the es- tablishment of a Jewish national home in Palestine. The Arabs have demon- strated recently against Jewish immi- gration into Palestine. Shots were fired last night near the British police camn at Mount Scopus, :‘eruulzm‘ but there were no repercus- ions. The Arab strike continues through- cut Palestine. A telegram from Alman, capital of Transjordania. reported conditions nor- mal, with other districts quiet. . NEW SUPPORTERS FOUND FOR RESTORATION OF PAY 95 House Members Now Favor Ter- mination of 15 Per Cent Cut in Federal Salaries. A new group of supporters for resto- ration of Government pay was reported today in the congressional poll being taken by the American Federation of Government Employes. ‘Those announcing their support are Senator Dill, Democrat, Washington, and these Representatives: Sthuite, In- diana; Kelly, Illinois: Smith, Washing- ton; Weaver, North Carolina; Briggs, Texas; Murdock, Utah; Pettengill, In- diena, all Democrats. and Turpin, Pennsylvania, Republican. Senator Sheppard, Democrat, Texas, £aid he had not decided his action. ‘There are now 95 Senators and House embers favoring termination of the T cent cut, 21 are inclined to favor are not committing themselves at time: 11 are non-committal and 2 are opposed.