Evening Star Newspaper, March 6, 1935, Page 7

ECLESDECLAES BANKS ST LEND Government May Be Forced§ to Take Over Business, Hearing Is Told. By the Associated Press. | Marriner S. Eccles, governor of thel Federal Rescrve Board, yesterday de- | scribed the omnibus banking bill be- | fore the House Banking Committee as | & lever fashioned to force banks to | *“resume lending” or “they might firal that the Government has taken over | their business.” Eccles bluntly stated that the fail- ure of banks to lend has been troub- | ling the administration ever since the | 1933 banking holiday and that so tarl the problem had not been solved. “The banks are willing to extend ) credit on Government bonds,” Eccles‘ sald, “and the Government in turn | through such agencies as the R. F. C., the H. O. L. C. and the Farm Credit | Administration, has been putting out billions of dollars in bonds and credit | and then lending in turn to individ- uals and corporations. If this process continues, banks will have a hard time to justify their existence.” Banks Are Blamed. He said the Government might have to take over the business of the banks “not because the Government wants to enter banking, but because | the banks have forced Government | agencies to provide the necessary credit.” Eccles testified that a provision to enable member banks to borrow from | the Reserve Banks against “any sound asset” was the most important feature of the bill from the standpoint of the immediate future. “This provision does not mean in- | flation,” he assured the committee. | ~Before member banks would have any occasion to borrow from the Fed- eral Reserve they would have to ex- tend billions and billions of credit. They now have a great excess of re- | serve. Importance of Attitude. “But if the provision is there, it would change the attitude of the banks toward lending. This, to my mind, is the most important feature | of this legislation. It would do more toward inducing recovery, through credit expansion, than any other pro- | vision of this bill. The banking sys- tem must be made to provide the money and credit required by busi- ness.” Some members of the committee #aid afterwards, however, they thought Marriner 8. Eccles (right), Board, talking over the new omnibus bill. THE EVENING STAR, Eccles Advocates Bank Bill governor of the Federal Reserve Bank banking bill with Chairman Steagall of the House Banking Committee at yesterday's committee meeting on the —A. P. Photo. BY JAMES WALDO FAWCETT. The books which Susan B. Anthony | gave to the Library of Congress more | than 30 years ago, have become ob- | jects of pilgrimage for her followers. Volumes from the collection, now on display in the rare book division of the Library Building, have attracted hundreds of admirers of the famous | reform leader to whose self-sacrificing labors millions are indebted. | Miss Alice Lerch, custodian of the some limitation should be written into the measure against any possible re- currence of credit inflation of 1929 days. U. S. CONTROL URGED ON HOLDING FIRMS Healy Suggests Continued Opera- | tion May Be Needed to Pro- tect Investors. BY the Associated Press. Amendment of the holding co pany bill to permit these public util ity units to continue operation under | Government control if it found their dissolution would hurt investors and be against public interest was recom- | mended today by Robert E. Healy of the Securities and Exchange Commis- sion. Testifying on the Wheeler-Rayburn bill for abolition of the holding com- panies by 1940 and strict regulation meanwhile, Healy, who conducted the | Trade Commission’s investigation of utilities, said he would give the ad- | ministrative body discretion for car- | rying out the dissolution. | Broader power to permit holding | companies to continue if it was shown they comprised geographically and | economically integrated units also was | advocated in testimony to the House Interstate Commerce Committee. Healy insisted, nevertheless, that the utility holding companies in gen- eral should be eliminated. S S —— Soldiers Can Have Guests. Soldiers of Britain have just been exhibition, explained, “We brought out these books for Miss Anthony’s birth- day, February 15, but so many visi- | | tors still are coming to see them that | | we have postponed another display we | had planned and will maintain rhts one indefinitely.” | Young people espegially, Miss Lerch | added, have manifested reverence for Miss Anthony’s gift to “the greatest library in the world.” Each Book Autographed. The story of the contribution is told in Mrs. Ida Husted Harper’s “Life and Work of Susan B. Anthony,” where the author reports: “It had long been a question with her what to do with all her books and historical documents |* * * but her old friend, Ainsworth | Spofford, librarian emeritus of the | Library of Congress, solved the doubt ‘by asking her to place them there. A careful selection was made of sev- | eral hundred and then it was sug-, would be infinitely increased if she would put her autograph in each * * * or more lines on the fly-leaf. Four | large wooden boxes of these books were sent to Washington on February 6, 1903 * * * They were catalogued as the Susan B. Anthony collection.” Among the treasures are: Complete files of William Lloyd Garrison’s aboli- | tionist paper, The Liberator; files of The Anti-Slavery Standard, edited by ‘Wendell Phillips, Lydia Maria Child and Parker Pillsbury; and bound vol- umes of The Revolution, edited by Miss Anthony herself, Mrs. Elizabeth Cady Stanton and Mr. Pillsburgh; vol- umes of The Woman’s Journal, The Woman’s Tribune, The Ballot Box |and The Citizen, and scrapbooks cov- ering half a century. Family Bible Included. Individual books in.the display cases show the names of Horace Mann, granted the privilege of inviting rela- tives to tea at the barracks. WASH!NGTON GASLIGHTCO e GEORGITOWN GAS UGHTCO —————————————————————————————— ) A John Stuart Mill, Wendell Phillips, Henry Fawcett and many other emi- A | gested to her that the value of these | “Each contained her name and one | Anthony Books Lure Visitors Volumes Given to Library of Congress by Famous Reform Leader Prove Magnet for Followers. nent liberals of the past. The An- thony family Bible is included, and with it are a copy of Robert Burns’ poems owned by Miss Anthony's mother and a copy of Mrs. Sarah J. Hale's “Poetical Quotations,” 1853, presented to Miss Anthony by her brother Daniel. Each item is inscribed with an ap- propriate comment in Miss Anthony's hand. A book of Daniel Webster’s “Speeches,” for example, is indorsed: “Shun his weaknesses.” There are books of particular value in connection with the woman's suf- | { frage movement and an engraving of Miss Anthony as a young woman is | exhibited in one case; her last photo- graph in another. The entire Anthony collection fills | two sections of one of the rare book 1dxvmon vaults, and the selected vol- | umes now on special exhibition are in the division reudlna room. ‘FRESH MEAT WAS PRIZE Jangunynn Army Enters Farm- ing Section of Bolivia. BUENOS AIRES, March 6 (#).— Paraguay's triumphant armies had fresh meat for the first time in month’s yesterday as their headlong advance carried them across the Parapeti River into Bolivia proper. All the long months they have been | pushing Bolivia’s armies northward |and westward through the barren | wastes of the Chaco, Gen. Jose Esti- | | garribia’s men have been dining— when they dined—off canned or dried The Bmuty Just inside the G talk of the town. In the Beauty Corner vice of expert Cosmeticians and blenders of perfumes to personalities. Here you will find in The PALAIS ROYAL tonians are looking to it as never before. WASHINGTON, D. C, WEDNESDAY, MARCH 6, 1935. SHRINERS LAUNCH HOUSE DEMANDS SLOGAN CONTEST $50 Prize to Be Given in Preparation for Imperial Conclave June 8-15. ‘The Shrine Committee today offered a $50 prize for the best slogan for the imperial conclave here June 8-15. For the Shrine session here in 1933 the slogan was “Park your camel with Uncle Sam’L” It was said to have been one of the most popular ever adopted by a Shrine convention. | Entries must be submitted before | midnight, March 20. Wallace B. Rob- | inson, assistant director of the United ! States Railroad Commission and a| member of the Shrine Publicity Com- | mittee, was named chairman of a sub- | committee to have charge.of the slogan contest. | Only Judges Exempt. | The contest is open to any person except the judges and the members {of their immediate familles, according to Robert P. Smith, director general of the Shrine Committee. The judges | will 'be Mr. Smith, James C. Hoyle, | executive' secretary of the Shrine | Committee, and Curtis Hodges, chair- | man of the Publicity Committee. | In addition to the cash prize of $50, it is expected that local merchants | will contribute secondary prizes to be | awarded to the writers receiving hon- | orable mention. | Slogans should be sent to Slogan | Manager, Almas Temple, 1315 K| street. “Broadside” Sent Out. Meantime, the Shrine Cnnvenllon’ Committee is sending thmuahout. the country an attractive “broadside,” or full page of stories and pictures, en- titled “Washington Awaits Visiting Nobles.” Many features are listed as providing drawing cards to bring Shriners to Washington in June. The committee is making special efforts to provide adequate housing for the crowds expected and has sug- gested that persons having rooms which can be rented for the occasion be listed with the Housing Committee at the temple. R \DATA ON MARRIED TEACHERS SOUGHT Questionnaire Submitted to Board, as Result of Request by Representative. ‘The Board of Education has been |called upon by Daniel J. Donovan, District auditor, to answer a ques- | tionnaire showing the number of mar- |ried teachers employed in the pub- |lic schools whose husbands or wives are also employed by the Federal | Government. | 'The questionnaire is the result of |a request for information by Repre- sentative Cochran of Missouri, author of the national economy act, who an- nounced about two weeks ago that | he would insist that the married em- | ployes’ provisions of the act be en- forced in the District schools. The School Board, however, has recently repealed its rule applying to married teachers, Lasing its action on a de- cision by the Civii Service Commis- sion and a subsequent ruling in one jcase by Corporation Counsel E. Bar- rett Prettyman. As a result, a num- ber of married teachers who resigned have asked to be reinstated. Cochran declared the bill was in- tended to apply to all District em- ployes, although such employes have no civil service status. The question- ;min will be presented to the board | this afternoon by Dr. Frank W. Bal- "lou superintendent of the schools New Corner street door, is the Smeart Washing- you may have the ad- a full assortment of all the leading beauty aids to help the modern woman preserve the glow of youth. These preparations are con- veniently arranged just inside the G street door . . . the arrangement of the exquisite preparatnons and modern atmosphere delight the fastidious women their beauty needs. Elizabeth Arden Cleansing Cream. DuBarry Complete Facial . .. a two weeks supply of everything ............ Coty Face Powders and $1 perfume bination ..... ing Cream Soap . 1 rlain’s reeze .. G who come to it for all .51 .81 Daggett & Ramsdell Beauty Kit, o‘f leather, $10 Rubinstein’s Gift Package, with Youthifying Tissue Cream and Herbal Cleansing special, $2 Rigaud’s $1 Un Air Embaume Face Powder both for $1 Tussy Face Powder, Lipstick and Puff Com- ..$1 complete Palais Royal Cold Crenm Solp and Cleans- . . the most-talked-of soap in town . . . March spe- .2 dozen, 89c New Perfume « + . Southern Houbigant’s Quelques Fleur Perfume, oz. $2.95 Prince Matchabelli’s Crowns..............5] Keep yourself young and beautiful with Palais Royal scientific aids! Palais Royal—Main Floor—Beauty Corner WALLACE B. ROBINSO! IR. F. C. ASKS RESCINDING !OF RAILROAD CONTRACTS Federal Creditor Files Action in Court for Reduction of $3,- 200,000 in Price. By the Associated Press. ST. LOUIS, March 6.—The Recon- struction Finance Corp. asked yester- day that trustees of the Missouri Pa- cific Railroad be instructed to rescind contracts under which the road pur- chmd terminal properties in North | Kansas City and St. Joseph, Mo., from the Van Sweringen interests. The Reconstruction Finance Corp., 8 $23,000,000 creditor of the railroad, criticized a recent report of a special master who recommended a reduc- tion from $20,000,000 to $14,000,000 in the purchase price for the properties In exceptions filed in Federal Court, the Government agency asked Circuit Judge Charles B. Faris to direct the filing of & suit to recover $3,200,000 paid under the contracts. H.O.LC. QUIZ PROOF Sweeney Told to Submit|e™ Charges Against Agency in Writing. By the Associated Press. | After listening to more charges of graft and ineficiency in the Home { Owners’ Loan Corp., the House Rules Committee yesterday told Repre- sentative Sweeney, Democrat, of Ohio to put the accusations in writing. Members of the committee appeared displeased at what they believe is the fallure of Representative Sweeney to offer definite proof of the irregulari- ties he has charged.” Sweeney, on the other hand, is irked by the treatment of his demand for an investigation of the H. O. L. C. With the first sentence of his testi- mony, in fact, he crossed swords with Chairman O'Connor. Referring to Monday's eppearance of John H. Fahey, H. O. L. C. chairman, before the committee, Sweeney remarked: “Pahey finally was called after con- siderable delay.” “Let's get that straight,” O'Connor burst in. “It was Fahey's suggestion that he eppear.” Demands Proof. Acknowledging that he was fa- vorably impressed by the “sincerity” of Fahey's defense of the H. O. L. C,, Representative Cox, Democrat, of Georgia asked bluntly: “In what respect and in what par- ticular are you in a position to refute any single statement made by Fahey?” “He adroitly dodged the issue,” Sweeney retorted. He added that the Fahey statement of itself was enough to justify an inquiry, because the H. O. L. C. chairman cited 1,200 complaints of ‘irregularities under examination by the H. O. L. C. criminal division and the compulsory resignation of 44 State and district managers and as- sistants. Agency “Too Liberal.” ‘When Cox suggested that Sweeney's eon.rudonll district had been helped more than any other in the Nation by H. O. L. C. operations, Sweeney uuulednumwdbeluwonb- "lt has bailed out banks with cor- rupt and crooked officials,” he de- clared, and then attacked the H. O. L. C. on grounds of discrimination in loans, erratic credit ratings and delsy in consummating home loans. Government agencies ought to be investigated whenever it is justified, said Representative Sabath, Demo- crat, of Illinois, but he added he had not seen enough evidence of mal- feasance to warrant putting the H. O. L. C. under examination. “YEARS OF CONFUSION” FORESEEN BY DR. GRAY American U. Guild Is Told Atti- tude of Students Vital in Future. Predicting “years of confusion” lie | | just ahead in the United States, Dr.| | Joseph M. M. Gray, chancellor of | American University, yesterday de- clared it to be the duty of universi- ties to lead youth “into canndence and understanding.” Dr. Gray spoke at a luncheon o{ the Women'’s Guild of American Uni- versity, celebrating the first anniver- | sary of his inauguration as chancellor. Mrs. Delos A. Kinsman, president of the guild, presided. “The years which lie ahead of u.!, like those through which we have just passed” declared the chancel- lor, “will be years of confusion, of | many doubts, of much uncertainty. “The university, this university, will | U. S. BUS REGULATION BACKED AT HEARING Employers and Labor Indorse Federal Rules Before Sen- ate Committee. By the Associated Press. Employers and labor indorsed Fed- eral bus regulation yesterday at a hearing before the Senate Interstate Commerce Subcommittee on the motor transportation bill. “We ask Federal regulation,” said J. L. Keeshin of Chicago, representing the National Highway Freight Asso- ciation, an organization of common carriers. Thomas P. O'Brien, general or- ganizer for the Brotherhood of Teamsters, Chauffeurs and Helpers, affiliated with the American Federa- tion of Labor, said Federal regula- tion would bring regular working hours for men and reduce danger of accidents attributed to fatigued truck operators. George F. Whitehead of Paterson, N. J.,, representing a group of oper- ators in Pennsylvania, New Jersey and New York, declared “90 per cent of the responsible operators Federal regulation.” - Controlled o | Heated by Hot Water I.OW FARES. NEW YORK (Six Thrw Expresses) 5.50 NORFOLK (Stops U. S. 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