Evening Star Newspaper, July 25, 1935, Page 7

the Federal Reserve Board testified | he had not seen the bill until after | it was sent up here. The President | referred to it in a letter to the com- mittee as a tentative bill and asked that we call various officials on it.” Glass said he had been calling it “simply the Eccles bill because nobody, RESTRAINER ASKED BY TAA DRNES Union at Protest Meeting Seeks to Bar New Rate Order in Courts. A court order restraining enforce- ment of the Public Utilities Commis- sion’s 20-30-50-70 cab rate order will be sought at once by union drivers qperating illegally on a 20-40-60-80 basis, Adolphe Holensee, business agent for the Taxi Drivers’ Union, said this afternoon. Hohensee met with 50 union drivers In a restaurant above the Gayety Theater to outline a program for com- bating the commission’s ruling, which has been in effect almost 48 hours. Although drivers charging more than the fixed rate are by law subject to a fine of $200 for each day they so charge, Hohensee declared “The police will not touch us. are afraid to arrest us.” ‘They Today's meeting was called after | police broke up a drivers’ gathering last night in a vacant lot at Second and M streets northeast, because Hohensee failed to obtain a permit for the meeting. In the discussion of obtaining the restraining order, Bernard L. Hen- ning, president of the union, an- nounced he did not think the commis- sion had any right to establish the rate it had published. Glass (Continued From First Page) Eccles and the latter to him in order to get a unanimous agreement in com- mittee on the bill. As galleries packed with tourists and financiers listened to the Virginian, Senator Nye, Republican, of North Dakota waited to address the Senate in favor of a Government-owned-and- operated central bank, a proposal which Glass termed opening remarks as “repugnant” to all forms of banking. Glass said today that “repeated references to the bill as an admin- istration bill have no justification Wwhatever.” “It isn't an administration bill,” he added. “The President never read a word of it unless it was very recently. The Secretary of the Treasury is on record as saying he has not read it Every member, except one (Eccles) of with that single exception, who ap- peared before either committee ever | advocated the bill.” Although agreeing to the committee | compromise, Glass said the banking |act of 1933 “averts all danger of re- |turn to the frightful conditions of 1 1929.” “In that act,” he said, “we re- quired for the first time that the Fed- eral Reserve Bank keep itself informed as to credit or member banks to ascer- | tain whether they were making undue use of credit for speculation.” Despite the central bank amend- ment and one for inflation, Demo- cratic leaders said the bill would pass | this week or early next in almost its | present form. Review Legislation. Telling Nye, Senator Borah, Repub- lican, of Idaho, and other advocates | that sponsors of the central system |in the past “found it convenient to | abandon their indefensible attitude,” Glass reviewed Federal Reserve legis- lation during the first of his speech yesterday. He warned against further radical changes in the present omnibus bank- ing measure, the main provisions of | | which give a reorganized Reserve | | Board majority control over the Na- tion's credit. | Glass declared the regional reserve system was created “upon the theory | that the 12 regions established would know better how to manage their own credits and respond to the require- ments of their own people.” “Therefore,” he said, “we .estab- | lished a regional reserve system with a large measure of local authority and | a Federal Reserve Board charged not | with conducting a central bank sys- }Lem‘ but merely with supervisory | | power to see that these regional banks | complied with the law. ] “When the suggestion practically of | AMFRICAN MEDICAL terday in the | THE EVENING STAR, WASHINGTON, a central bank here in Washington was abandoned because of its obvious repugnance to everything we have done, then it was proposed that the central bank here should be given ex- traordinary authority to control these regional banks.” Glass declared it was “the most un- reasonable thing that could be sug- gested,” to have the regional banks controlled by a central board. Chest tribution of not more than 5 per cent | of a corporation’s income to be devoted to charity without taxation. Whether this legislation is passed or not, even more than the approximately $217,000 received by the Community Chest of Washington from corporations for wel- fare needs in 1935 must be counted on to make possible the continuation of services which are not part of the gov- ernmental budget for 1936.” Marcy L. Sperry, president of the Washington Gas Light Co., made the following statement today when asked why his company contributed to the Community Chest: “We consider that our companies are an integral and substantial part of this community and as such should do their part in supporting all vital and well-run activities. “We feel that the Community Chest is perhaps the most essential and all- embracing private social activity in this community. Our directors and stockholders have both formally ap- proved our contributions to it, believ- ing that the Community Chest reaches many cases of need that other relief agencies cannot handle so well, if at all” MOVIE MACHINE GIVEN SANATORIUM BY CLUB Organization Donates Equipment Costing $900 to Glenn Dale Institution. Geeking to brighten the lives of children under treatment at the Chil- dren’s Tuberculosis Sanatorium at Glenn Dale, Md., the Variety Club yesterday gave the institution a port- able sound picture machine costing $900. The presentation was made last night by Randolph Berger, “chief barker” of the Variety Club, who an- nounced that the club each week would provide films and would keep the machine in running order. The gift was accepted for the insti- tution by Dr. Henry J. Crosson, chair- man of the Medical Service Commit- tee of the Board of Public Welfare. PFunds for purchase of the gift were obtained from a Variety Club dance and banquet last Winter. Tests for Drivers Urged. Medical tests for automobile drivers are being urged by the chief constable and police surgeon of Cardiff, Wales. EXTRAORDINARY SPECIAL! FRIDAY TO MONDAY ONLY SELECTED BROKEN CASHEWS 29- 1. SPECIAL PRICE APPLI S TO POUND PURCHASES ONLY— FRACTIONS OF A POUND AT REGULAR PRICE OF 3% LB. SALTED IN PURE CREAMERY BUTTER NATIONAL PEANUT CORPORATION 705 15th Street N.W. BETWEEN POSTAL AN ON] PEOPLES DRUG STORE INGTON_STORE LY _WAS Look for the Strung Peanut Display OPEN EVERY EVENING AND § | NDAY SNAPSHOTS saze e HIGH SPOTS D€ PWA POWERLOAN 10 CITIES HALTED Alabama Company Fights Granting Money to Buy T. V. A. Current. The Alabama Power Co. today se- cured an order in District Supreme | Court to prevent temporarily the P. W. A. from lending money to four Alabama cities to enable them to buy electrical power from the Tennessee Valley Authority. Justice Oscar R. Luhring signed an order forbidding the P. W. A to make any loans to cities until August 1, when the case will be argued in court. Business Declared Threatened. The power company, which says it has a $150,000,000 investment in Ala- THURSDAY, JULY 25, 1935. bama, charges P. W. A. Adminjstra- tor Ickes with using Federal funds to “beat down” their prices, and de- clares consummation of the project will drive them out of business since it cannot compete with the cheaper municipal rate. The proposed loans, it was said, are to be made to the citles of Decatur, Florence, Sheffield and Tuscumbia. The power company claims it offers to sell its systems in the four cities to the municipalities, but that the deal fell through. Loans Checked. ‘The order signed by Justice Luhring prevents P. W. A, from lending money to cities for the construction of both generating ard distributing systems. It was not believed, however, that the cities contemplate building their own Viore Annofing Co-operate with the Prompt Schedules - Modern Coaches L!AVE almost any time you wish! Similar con- venient schedules for your return trip. Less cost than driving your own car. Cool, easyriding coaches, expert drivers. Stopover privileges, extra savings and long return limits on round trip tickets. PHILADELPHIA 20 Trips Daily - 16 Trips Daily 8 Trips Daily SYRACUSE 8 Trips Daily SCRANTON.... 8 Trips Daily Termina] ]403 New York Ave. Nw. P'Ione Met. 1 5 1 2 GREYHOUND generating plants instead of buying the nower from the T. V. A. The suit was filed through Attorneys Burling, Gordon and Westwood. Justice Bailey in District Supreme Court recently upheld the Federal Power Commission in knocking more than $3,000,000 off the orginal cost %% A—7 for its Mitchell Dam hydroelectric- plant. - e Air Service Planned. 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