Evening Star Newspaper, March 20, 1935, Page 3

FIGHT ON BANKING MEASURE MAPPED Glass Is Expected to Find Support to Phases of Bill. By the Associated Press. Soon after the struggle on the $4,- 880,000,000 work and relief bill is over snother fighting issue is expected to leap to the fore in a Senate committee. It is the new banking bill drafted by Roosevelt administration officials. The relief bill struggle has delayed consideration of the bank measure and of President Roosevelt’s nomina- tion of Marriner S. Eccles, New Dealer, as governor of the Federal Reserve Board. Senator Glass of Virginia is chair- man of the Banking Subcommittee which is charged with consideration of both matters. Glass, whose views conflict with Eccles’, has been com- piling a list of witnesses to be called on the bank bill and evidence in con- nection with the Eccles nomination. While Glass has said little publicly about the bill, he is known to frown on some of its provisions for changes in the Federal Rescrve System de- signed to centralize further control of money and credit in the Reserve Board at Washington. Forces Mobilize. Strong opposition to some parts of the bill is forming in the Senate back of Glass, but there also is powerful support for it. ‘The American Bankers' Association and other organizations opposed to certain changes in the banking and monetary laws are campaigning for creation of a commission to study the | | problems involved. Chairman Fletcher of the Banking Committee early in the session was | considering a proposal for a joint congressional commission to study money and banking legislation, but has now dropped the idea. He was backing it when he understood the administration desired no banking | legislation at this session. “I don't want to press it now,’ Fletcher said today. “I would ramer have legislation if we can get it.” Roosevelt Attitude in Doubt. President Roosevelt's attitude on the bank bill is still somewhat in doubt. Glass contended it was not indorsed by the President, but was merely of- fered as a suggestion. Other leaders, however, treated it as an administra- tion measure. The bill was drafted by Eccles and other officials. Eccles will be called by the Glass committee in the consideration of his nomination. Glass has been studying | Eccles' background as a Utah banker. Nearing the end of a fortnight on the stand, Eccles smilingly told the House Banking Committee yesterday that fears of inflation had been “largely imaginary.” Advocating passage of the Treas- ury’s omnibus banking bill, he followed this by arguing that a governmental deficit was needed in times of depres- sion. ~I don't believe it is so easy to get| inflation,” Eccles testified. “Certainly many efforts have been made, but we are just as far from it now as we were three years ago. Unless people without money and without jobs are put in possession of money and jobs, and unless people and corporations with money will spend the money they have, you can't get an inflation by purely changing the gold content, or by silver legislation, unless your action actually puts money into the hands of people who will spend it and induce others who have it to spend it.” Eccles probably will finish his tes- timony before the House group today. HOUSEWIVES PROTEST A. A. A. AMENDMENTS League Head Tells Senate Group | Proposed Changes Would Affect Homes. By the Associated Press. The housewife has filed her protest to amendments to the agricultural ad- justment act, asserting they would “further limit an already drastically cut standard of living.” The protest was made yesterday by Mrs. Wilbur E. Fribley of Chicago, who said she was president of the Housewives’ League, to the Senate Agriculture Committee. The proposed amendments, she claimed, “would threaten the right of consumers to buy their supplies under the American system of price compe- tition” and “would deprive the Ameri- can housewife of the privilege of choice” in selection of foods. SPECIAL NOTICES. ANTED—_RETURN LOADS FROM BOS- AN ~York. Chicaso, Pittsburgh, xauxé Oma) ile and, Omaha. S s!fi::“w&es'rn E CO.. 1313 U st. ton. New Izlo. TRAN: nw Phnn! Nonh ACCOUNTANCY FOR T Eoart Columeia will hold an ex- amination for those wishing to obtain cer- tificates to practice in the District of Co- Jumbia as certified public accountants on the three (3) d-ys beginning on or about ‘Thursd; 1035, the exact time A: lr‘nur!e sfleclflsaél!ym:ldl; ions mus &’by the board and filed with C. Vaughan Darby, Secretary. Potomac Electric Power Company_Building. Washington. D. C. DR. CHAS F. now lch!lted with Drs. W. W_ Thompson. 705 13th st n¥ Phone Dis- trict 0453, 8:30 am. to 5130 p.m. DAILY 'nups MOVING - LOADS ~AND art loads to_and from Balto.. Phila._and Yerk. F!!lluenl trips to other East- able Service Since TRANSFER & 1896." STORAGE CO.._phone_Decatur 2500. I WILL NOT BE RESPONSIBLE FOR debte contracted by any other than mysell. NDREW BRO 107 E st. l 'lLL NOT BE RESPONSIBLE R Al debts made by any one but myself. it LIAM J. BURKE. U. 8. M. C.. Quantico, Va. SCREENS, $1.40 EACH H INSTALLED: FUR- niture repaired. floors, windows, doors. gic. Call Mr. TAYLOR. District 7185 UNDERWEIGHT? TRY VIGOROUB RICH Faun Dairy milk from selected Swiss goats. Store. Columbia 6818. 2616 incoln 2145 1tth and umbia 2080 3121 PART LOAD » ]l'.h st fln W. Dnlly dzhvel” Afl'l HAUL PULL OR | l"-! Ill’l ln l w- ‘points; special rates. P NAL DELIVERY Al NA' SSN. INC., 1317 N. Y. ave.. Natl. 1460. -Local moving also. g Tou ke, sumass Jor chairs for STORAC Ulflm anz 418 lflth st. D.W. Mltmmlltnn 1844 HONEY, CAN, 0; _BEST, foss oe 10 B 8. S5 west ol s one of the largest CHAMBERS undertakers in the omplete funerals as low as $75 !'o.l‘ld!“ cchll?els. twelve parlors. seventeen cars, hearses and ambulances. twenty-five undertakers and_assistants. WE CAN REPRODUCE ~—your original copy. maps, patent draw. ings. specifications. etc.. either black and white. or colors. from a dozen to as many coples as may be required in less time and 30less cost than any other process. Ask for_an estimat Columbia Planograph Co. 50 L St. N.E._ Metropolitan 4861. HERE'S A ROOFER ith a 35-vear-old reputation for do- ing thinls right, If you hlvl roof worl to offer consult this reliable firm an ‘g WOrry. s'l‘gog%l‘gs C “vlll up. A DEAL FUNERAL AT $75 rovides ' same service as one aosting e:ll DIAL tvl‘l “26 nlrl :xpenenu ) f > D. C, WEDNESDAY, ,Training Squadron Receives Schiff Trophy ‘Lieut. L. A. Moebus, commanding officer of squadron No. 2 of the Pensacola, Fla., graphed as he received the Herbert Schiff Trophy from President Roosevelt yestrday. The trophy, emblematic of safe flying, was established by William Schiff (left) of New York in memory of his brother, a Naval Reserve aviator, killed in an aviation accident in 1925. Following the presentation Lieut. Moebus was Mr. Schiff’s guest of honor at luncheon at the Mavflnv\er air station, photo- —A. P Phow This | Changing | World | | Germany Due to Shock | World Again in Air Revelations. ; BY CONSTANTINE BROWN. § ERMANY will throw another | G bomb in the camp of her op- | ponents. This will happen within the next few weeks— | probably early in April— | #hen Der Fuehrer will announce the “peace strength” of the German air | force. | The exact figures are not known | vet. but it is certain that they will | show a larger force than that of the | | United States or Great Britain. In the last four months alone the Ger- | | man factories have produced no less than 600 military airplanes per month. | That means the Reich has at least | | 3,000 planes at the present moment. | | Furthermore the German factories are equipped to manufacture up to 1,000 planes every month. * There are enough men in the Reich today to provide all these fighting units with efficient crews. The young Germans, trained mostly on gliders, are reported to be among the best pilots in the world With a formidable military ma- chinery at her disposal and with a remarkable air force, Hitler is sitting back and asking the help- less and strife-ridden European nations: “Well, what are you going to do about it?” * K * % The British were the first to take the hint that force against the Reich can be of no avail. | Sir John Simon has overlooked the | snub he had received two weeks ago | from Der Fuehrer and is trotting him- | talk with the former Austro-German | corporal. The British know when they can bluff and when they cannot, and do not believe in being over sensi- tive whén the safety of the Empire is at stake. | * % % Plans for Sir John's visit are being | made hurriedly. He is compelled to discard his original idea of offering the Germans a 10-year armament moratorium. It is too late now. Sir John wants to talk sense to Hitler. All Britain is worrying about is peace in Western Europe. If he can induce Hitler to guarantee the se- curity of the Rhine border, Great Britain will be amply satisfied. * k% X X It is doubtful, however, whether France can share Britain’s point of view. The French government is in a dilemma. On the one hand it wants to keep Britain’s amity and | work in co-operation with her for | the maintenance of peace; on the other hand, her new ally—Russia— must be taken care of. And Hitler does not want to guarantee the se- curity of the Vistula borders. * ok ok % Capt. Anthony Eden, Sir John Simon’s right hand man—some peo- ple say he is the whole hand—is going from Berlin to Moscow . with suggestions. Foreign Minister Laval is following him _there as soon as the situation in France permits it. The Russians have a determined foreign policy. They are menaced on the fronts; in Asia by Japan and in Europe by Germany and Poland. * ok ok % Moscow knows quite well there is a Japanese-German-Polish under- standing to snatch away from the Soviets two of its most important provinces—the maritime province in Siberia and the Ukraine in Western Russia. The Soviets also know that a war on the fronts will be difficult, if not impossible. Hence they need allies in Western Europe. Litvinoff is ready for the British and the French. In exchange for Russia’s whole-hearted co-oper- ation against Germany he wants the British and the French to sign on the dotted line that they will mobilize and succor the Soviets against any aggressor in Europe. The Soviet government does not want equivocal assurances, such as “the high contracting powers will con- sult and use all means at their dis- | “They * * *” but a definite pledge that so many divisions and so many air squadrons will be sent to Russia's rescue. * *x X % It is almost certain that the Brit- ish will balk at such an agreement. lack imagination,” say the French, who, finding themselves in a hole and incapable of relying on themselves, are looking around for help from any quarter. “We are realists,” say the British, “and the longer we can keep out of a war the better it will be.” The British feel that while a war in the West migh®, be averted—the Germans have nothing to gain on this side of | the Rhine—a war in inevitable. o x Hitler has never concealed his thoughts about the possibility of taking away, with the aid of the Poles, the Ukraine from the Soviets. His rt‘asanmg is clear. “Germany,” he says. “has made once a blunder of trying to become a colonial power by acquiring new territories in Asia and in Africa. It has cost the German tarpayer a lot of money. Today more than ever colonial possessions call for a big navy which Germany cannot afford. But Germany needs more room for its increasing population. To ez- pand at Russia’s expense will be the natural thing which will meet with the approval of most nations.” % % %k After a short seems to be some serious misunder- standing between the French and the British and a political Reno may be expected. France is going back to her old sys- | tem of alliances based on the Little Entente and the Soviets. And in order | to keep them in order she must make a display of force. The failure to show strength has thrown Poland into the arms of Germany. When the former French Foreign | Minister Paul Boncour failed to take drastic steps against Germany in 1933, after the Reich quit the limitation of arms_conference, the Poles went into the German camp. A few days after Germany and Poland got together, there was a reception at the house of | the Propaganda Minister Herr Gocb- bels in Berlin. The Polish Ambassador was present. self to Berlin to have a heart-to-heart | Prance was discussed and the witty | Poles said: “France is like those old Parisian Boulevardiers who can offer their lady love nothing but money . .. et ca encore.” 'MRS. K. T. ANDREWS DIES AT HOME HERE Native of Cleveland Was Active in D. A. R. and St. Mar- garet’s Church. Mrs. Katherine Taintor Andrews, widow of Brig. Gen. George Andrews, U. 8. A, died Monday at her home, 2301 Connecticut avenue, after a month’s illness. Mrs. Andrews, who had lived in Washington since 1912, was born 77 years ago in Cleveland, the daughter of Jessie Taintor, a prominent banker there, and Eunice Peirce Taintor. An active member of St. Margaret’s Fpiscopal Church, she belonged to the Army and Navy Chapter of the D. A R. She is survived by two daughters, Mrs. Abram Claude, wife of Capt. Claude, U. S. N, retired, and Miss Katherine T. Andrews, and three grandchildren, all of Washington. Gen. Andrews died in 1928. Funeral services. will be held at St. Margaret’s Church, Connecticut avenue and Bancroft place, tomorrow at 2 pm. Burial will be in Arlington National Cemetery. LONG’S COWBOY COUSIN COMES TO HIS DEFENSE Willing to Meet Representative Gassaway of Oklahoma at Any Time, He Says. By the Associated Press. MONROE, La., March 20.—Now comes a cowboy cousin who wants to defend Senator Huey Long from the threats of Representative P. L. Gassa- way of Oklahoma. G. M. Wingate of Monroe, Long’s cousin and a nephew of former Lieut. Gov. Thomas Wingate, said last night | that he was “willing to meet Mr.| Gassaway any time.” The 6-foot Wingate, who asserted he worked seven years on the 101 cat- tle ranch at San Bonita, Tex., sald “if Mr. Gassaway is real interested in fisticuffs, shotguns, six-guns or pop- the East u‘ honeymoon, there MORTGAGE BANK CREATION URGED Head of National Associa- tion of Real Estate Boards Makes Appeal. Creation of a Federal bank and changes in the | housing ana home loan bank acts were recommended as means of speed- ing recovery of the construction in- dustry by Walter S. Schmidt of Cin- cinnati, president of the National As- sociation of Real Estate Boards in an address last night before the Wash- ington Real Estate Board. Schmidt, speaking before the spe- cial board meeting in the Mayflower ‘hnlel advecated establishment of a | “Federal mortgage bank empowered | | to buy sound mortgages from any ‘»hnlder without recourse against the | sellers, on any kind of urban property, | | not merely residences.” | Amount May Be Limited. “If desired,” Schmidt continued, | “the purchasable mortgage on busi- ness property can be limited | amount to, say $250,000. if there is fear of larger sums. The mortgage | bank should he empowered to sell \ bonds against the mortgages it owns. | If the United States dces not wish | to guarantee these bonds so that they | can be sold on a basis of low interest yield, then a sufficient capital, say $1,000,000,000, should be pledged by the Government. mortgage curity to find public acceptance at the low yield required for successful | operation.” Schmidt suggested that the bank be empowered to buy the stock and guar- | antee the bonds of mortgage associa- tions, ! ing act. In regard to the housing act, Schmidt recommended that the mort- gage insurance clause be revised “so that it is real insurance, either cash | or debentures bearing the same inter- est and terms as the last issued Fed- eral Securities selling at par,” and that the cost of insurance be revised | so that this cost is not fixed at a per- amount due in principal at the com- mencement of each year. Remodelling Suggested. | Declaring building and loan associa- tions are about the only mortgage in- vestors that use the Home Loan Bank System, Schmidt suggested remodeling the Home Loan Bank act so that the agency, designed to lend on mortgages of members “may and shall serve all such lenders of money.” Schmidt praised the efforts of Gov- ernment to assist the building indus- try, and said that the business in many sections of the country is rap- idly leaving the depression behind. S. W. King, delegate to Congress from Hawail, and former president of the Honolulu Real Estate Board, discussed real estate activities in Hawail. Roger J. Whiteford, counsel for the local board as well as the Fed- eral Housing Administration, served as chairman and introduced the speakers. John L. Weaver and William C. Miller, Washington realtors and former presi- dents of the national association, spoke briefly. Bobbies Good Students. Police cadets chosen for the new British Police College from members of the London force are proving as suitable as those with public school education, so next term 17 of the 30 new candidates required will be chosen from the ranks of the city. Service Men Needed There is actual need for electric re- frigeration service men. teach Jou by actual sh and lari ss starts At Inmmeansicly: 1255 T4tk mw Automatic Refrigeration Service School We service electric refrige: Phone District 2850, and watches into MONEY at A.Xahn Jne. national | in| Thus the bonds is- | sued would have the necessary se- | creation of which is provided | under Title III of the national hous- | centage of original face, but on the | Turn your old trinkets, jewelry Arthur J. Sundlum, Pres. 43 YEARS at 935 F STREET RAILWAY FINANCE PROBE SUPPORTED Bondholders’ Agent Hails Wheeler Resolution as “Banker Rule” Blow. By the Assoclated Press. To protect millions of investors and to rid the railroads of “banker con- trol,” Charles A. Beard, representing an independent bondholders’ com- mittee, today urged the Senate Inter- state Commerce Committee to adopt the Wheeler resolution for an in- vestigation of railway financing. In a lengthy, prepared statement the New England economist-historian enumerated a long list of railroad systems, including the Van Sweringen lines, which he said still were being operated under the domination of New York bankers, despite the law prohibiting banks interested in rail- roads from having directors on their boards. Held Constructive Effort. He described the resolution as one of the “great constructive efforts of the depression period,” adding: “This resolution and the inquiry for which it calls are means for making those who have wronged the railroads and railroad investors pay back the | millions which they got wrongfully out of the pockets of the American investing public. “It is a means for building a sound foundation for the future, so that the railroads will be run as a railroad in- dustry—not as an adjunct of Wall Street; so that they will be encouraged in competition—not in stock market speculation; so that they will serve first the public interest, be fair to the employes and pay a decent return to their investors.” Morgan Control Alleged. Beard said the “real control” of the large Van Sweringen lines was in the hands of J. P. Morgan & Co. and a New York banking syndicate formed by that company. “This Morgan syndicate is a cred- itor of the Van Sweringens in the amount of $48,000,000,” he asserted. “The Van Sweringens occupy a chair at the railway poker table, play- ing with the biggest chip in the game, but behind them stands the Morgan banking syndicate with the power at any time to deprive the Van Swer- ingens of their seat at the table and | to send them to the breadline.” instead of dislodging, had intrenched | banker control. In this connection he | mentioned the Chicago, Milwaukee & | St. Paul reorganization of 1928, in which he said Kuhn, Loeb & Co. “arranged for themselves a big ma- | jority of the board of directors.” Receiverships Cited. “Look at the railroad receiverships and bankruptcies of the Middle West and South—the Rock Island, the | Frisco, the Missouri Pacific, the New Orleans. Texas & Mexico, the Wabash. the Seaboard Air Line—roads hun- | dreds and even thousands of away from New York City,” | Beard. | “On the so-called ‘protective mittees’ which had seized the of power you will find the names of | partners, close friends and financial | allies of such firms as J. P. Morgan & | Co., Kuhn, Loeb & Co., J. & W. Selig- | man & Co., Dillon Read & Co., Na- tional City Bank, Bankers' Trust Co.. Chase National Bank and Guaranty Trust Co. As control was, so control is—in the same hands as before, and more than before.” Chairman mittee later would hear members of the Interstate Commerce Commission | and Jeésc H. Jones, chairman of the R. F. | FARM MEETINGS SET com- Montgomery Growers to Organize for Crop Control. Special Digpatch to The Star. ROCKVILLE, Md. | Under direction of Otto W. Ander- | son, county agricultural agent, Mont- Beard said railroad reorganization, reins | Wheeler said the com- | March 20— | MARCH 20, 1935. Darrow Greets Richberg N. R. A DARROW INSISTS N. R. A. HAS HURT SMALL BUSINESS (Continued From First Page.) affected,” Darrow said. “It would help rather than hurt labor and would help the small business man.” Darrow began his testimony by telling of his appointment by Presi dent Roosevelt to the Review Board after criticism of N. R. A. by Sena- tors Nye, Republican, of North Da- | kota; Borah, Republican, of Idaho, and others. As committee members leaned forward to hear, Darrow talked in a low voice and slow | hesitancy as though he | quite how to begin. | Dairow was accompanied by Lowell Mason, secretary of th Seated around him as he testified were N. R. A. officials. the ante-room to escort him to his | seat. First Critic Called. Darrow was the first critic N. R. A. to be called in the com- mittee’s investigation of the Recovery Administration. His appearance was first scheduled for Monday, postponed until today at the request of Senator McCarran, Democrat, of | Nevada, an author of the resolution | proposing the N. R. A. | McCarran wanted to be present to question Darrow. As Darrow was called. the commit- tee faced a dernand from Senator Nye for an investigation of charges of small business oppression under the men’s clothing code. Nye said a report on the situation by John C. Howard, former Justice Department attorney, was suppressed, and that Howard was transferred be- fore he cnmpl(—!ed his inquiry. A suc- | cessor, Nye said, exonerated the code authority and ignored Howard's evi- dence, Nye said he would ask the commit- | | tee to call witnesses to substantiate | with a little | id not know | Richberg went to | | | of | but was | investigation. | | Howard's charge that there was evl-‘ | dence “amounting to a prima facie | case that small enterprises minorities in the industry are being | opprx‘ssed o [ WEALTH IS SHARED OKLAHOMA CITY, March 20 (#).— and | gned before Judge J. B. Barnett, | . V. Chaney pleaded not guilty of al. lure to provide for his wife and | Judge Barnett ordered him to jail | pending trial. There a search dl.s- ’(‘lr*«’d $70 in his clothes. Den't let him use that money tn make bond,” the judge told the jailer. { “I'm going to share that wealth with his family.” gomery County farmers have started | to organize for participation in the Federal corn-hog control program. Meetings will be held this after- noon at Rockville and Clarksburg. and others are as follows: Tomorrow, at Laytonsville, 7:30 pm.: Barnesville, 11 am.; Poolesville, 1 pm, and Darnestown, 7:30 p.m.; March 25, Olney, 10 am.; Damascus, 1:30 p.m., and Colesville, 7:30 p.m. One 1. EVERY GOLD STAR CAR is exactingly recon- ditions nd then Road Tested before offered for sale. 2. PRICED TO SELL! Quality considered, GOLD STAR CARS are marked Prices in Terms that you require. CHURCH ANNOUNCEMENT. guns, all he’s got to do is mmethe“ time and place.” 3 Check our low finance rates. Friday. | TERMITES (Flving Ants) Most of our jobs come from friends and neighbors of these for whom we have done wor nteed Treatment "“TERMITE CONTROL CO, Nat'l Pres Bldg. Nat1 2711 ““Ask Our Customers” BUTLER VOICES WARNING ON RACE IN ARMAMENT Battleships and Gas Masks Use- less in “Next War,” Says Peacé Leader. By the Associated Press. NEW YORK, March 20.—Nicholas Murray Butler, president of Columbia University and of the Carnegie En- dowment for International Peace, re- turned from Europe last night to utter a strong denunciation of the current “armaments race” and the “economic nationalism now reigning here.” “The armaments race, upon whicn it shocks a patriotic American to see the Government of the United States entering so light-heartedly, means ha- tional insecurity as well as either ulti- mate bankruptcy or war or both,” said Dr. Butler. “The next war, if the reactionaries are able to compel us to drift into it, will be a universal hell of ruin and death by chemicals. We need not bother about battleships or gas masks. Neither will be of any consequence.” — WHE,BE» TO DINE. On the Richmond Highway Two Miles South of Alexandria The Finest of Home-Cooked Food Clarence Darrow (left) meets Donald Richberg shortly before the noted lawyer went before the Senate Finance Committee to discuss the —A. P. Photo. 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