Evening Star Newspaper, October 20, 1937, Page 1

WEATHER. (U. 8 Weather Bureau Forecast.) Fair and slightly cooler tonight; to- morrow fair; moderate west winds. Tem- peratures today—Highest, 70, at 1 am.; lowest, 50, at 7:15 a.m.; 65, at 2 p.m, Full report on page A Late New York Markets, Page 18 &5th YEAR. No. 341 Entered as second class matter post office, Washington, D. C. 40. ch WASHINGTON, ITALY PROPOSES PLAN OF TROOP WITHDRAWAL; PLEDGES ASSISTANCE . B Grandi Advises J apanese Reversal in North Study in Spain = Reported by Foreign Observers on Recall. QUICK ACTION IS PROPOSED Empower Group to Arrange Removal, Fascist Asks. BACKGROUND— Twenty-seven nations banded last Spring in effort to confine Spanish war within borders of that country. With FEngland playing leading role, meutrality sea patrol was set up in eflort to curb flow of arms and men into embattied country. The patrol proved a lamentable failure and Germany and Italy withdrew after a series of “inci- dents.” Br the Assoclated Press. LONDON, October 20.—Italy unex- pectedly recommended to the Non-In- tervention Committee today that an independent commission be sent 1o Spain to effect withdrawal of foreign troops from both sides of the Spanish WAr “'as soon as possible.” Count Dino Grandi's statement that “Italy is ready to collaborate” on this point indicated the more controversial question of belligerent rights to the Spanish combatants might be put into the background temporarily. @® The Italian spokesman suggested that a commission be empowered to “arrange for withdrawal of all foreign volunteers” from both sides in Spain. Background of Plan. The commission plan formed part of British propesals made July 14 and also was embodied substantially in the first point of the new Anglo-French plan for getting foreign fighters out of Spain. Italian sources believed the gesture might at least pave the way for further negotiation and prevent complete col- lapse of the non-intervention scheme, but its effect on other delegates in the meeting was not learned imme- diately. The faint possibility of a four-power agreement—without Russia—appeared earlier as a basis for a forlorny British- French hope of getting foreign war- Tiors out of Spain. Barring such a development. com- plete collapse of the enfeebled neu- trality svsiem designed to keep the Spanish war from embroiling the rest of Europe seemed only a matter of hours. Some compeient quarters foresaw a Jone chance of easing the situation which put general European peace in one of its most perilous positions since the World War. Indication before the Neutrality Sub- eommittee yesterday that the big Communist power would not try to wreck any settlement that would ef- fect the British and French plan for getting Mussolini's Blackshirt troops sut of Spain. 2. The impression that France might “silently acquiesce” to some arrangement, between Britain, France, Ytaly and Germany toward reducing intervention in Spain and at the same | time meet the Fascist and Nazi in-| sistence on quick granting of bel- ligerent rights to the warring forces In the Iberian Peninsula. Eden Appears Grave. There was, however, no open sign | of official British optimism as grave- faced, bare-headed Foreign Secretary | Anthony Eden walked inio No. 10 Downing street to tell his majesty’s eabinet about the Non-Intervention Committee deadlock. The cabinet session was a prelude to what appeared to be the last ses- sion of the non-intervention group this afternoon. Tomorrow Eden will face the House of Commons perhaps | to tell them what Britain will do next. The situation was fraught with dire possibilities, but paradoxically enough few - observers believed war would eome. at least not immediately—sim- ply because they believed the powers | ranged against one another could not afford it. The British cabinet was summoned for a morning session to hunt again for a magic formula to bring rival democratic and Fascist views together, but the cabinet regarded the situation as virtually hopeless. To See Corbin. In addition to today's British cab- inet meetings Eden and French Am- bassador Charles Corbin were sched- uled to confer. The ramifications of the crisis were tangled and far-flung, but revolved chiefly around rivalries in the Medi- terranean and adjoining regions. The ¥rench government announced that appointment of former Premier Albert Sarraut to direct France's North African affairs ‘resulted from loss of power by local authorities be- eause of “too much interference and outside influence.” . MOVES FOR PEACE BELGRADE, Yugoslavia, October 20 () —Premier Milan Stoyadinovitch withdrew the church issue from poli- ties today by announcing submission of & Vatican-Yugoslav concordat to the Senate had been deferred indefi- nitely. There had been prolonged contro- versy between the government and the Yugoslav Orthodox Church over rati- fication of this proposed concordat with the Roman Catholic Church. Demonstrations and riots caused seri- oous national turmoil after the Chamber of Deputies indorsed the concordat last | They cited: | e . { mines planted in the middle of streets, | 1. Soviei Ambassador Ivan MaiskV's | reaqy to explode at the slightest touch. | | | £ Advices From Shantung Capital Province Cite 1 | Chinese Gain. BV the Associated Press. SHANGHAL October 20.—Shanghai received today the first independent reports that Japanese not only are slowed down, but are being pushed back on one section of the North China front. Foreign reports from Tsinan, Shan- tung capital province, were that pro- vincial troops under Gen. Han Fu-chu | are making steady advances northward | toward Tehchow, near the northe | provincial border. The Japanese about-face was ascribed jointly to intense activity of | Chinese guerrila units and rtions | that overtures are in progress for a | compromise between Japanese and | Gen. Han. In Shanghai & Japanese spokesman declared Japanese roops were digging their way forward against Chinese on the Shanghai front. Johnson Makes Representations. United States Ambassador Nelson Johnson made written representa- tions 1o the Chinese government. ask- ing that Chinese warplanes quit fiving over the Shanghai International Set- 1lement and dropping bombs in for- eign areas | The Embussy representations. pre- | sented at Nanking. were based on a report by Consul General Clarence E. Gauss, showing 1990 Chinese and 16 foreigners have been Kkilled in the foreign areas. The Ambassador said previous Chi- nese assurances that planes would not fiv over foreign areas had not been | fuifilled. He said Americans and other | foreigners have been endangered be- | cause Cliinese planes attract anti- aircraft fire and increase the proba- ! bility of a repetition of previous inci- dents in which Chinese bombs fell in crowded sections. Chapei was mercilessly bombed for 15 hours today as an Associated Press correspondent made a survey of the historic Chinese residence section on the northern edge of the International Settlement This was the sixty-ninth successive bombing Chapei has endured without yielding to the might of Japan's war machine. Chinese forces were found strongly intrenched and in high spirits Whole square miles of wrecked | homes, looted shops and shattered fac- | tories, interspersed with debris-strewn alleyways, told & grim story of the frightful ordeal Chapei's million in- habitants endured. Many animals wounded by shrapnel {lay in the streets. Dead canary birds. | parrots and other feathered pets in their cages. Here and there were mangled forms of dead soldiers and civi' s, Tue greatest land hazards were The Chinese also have devised ingeni- ous tank traps designed to bring disas- | equip- | ter to Japanese mechanized ment Both Chinese and Japanese planes were active in the Shanghai-Nanking area. plosives on the Chinese airdrome at Nanking and Chinese raided Japanese | lines about Shanghai. Japanese Planes Transferred. Chinese air and artillery attacks on the Japanese landing fleld in the Yangtzepoo area of- the International Settlement were believed responsible for transfer of a number of Japanese planes to a more remote landing fleld near Wosung, 12 miles down the Whangpoo River from Shanghai. Admitted and authenticated Jap- anese losses in the Shanghai area total 50 planes. Chinese asserted they have shot down more than 100 Japanese aircraft. Japanese authorities served notice on foreign consuls that Japanese de- cline to assume responsibility for the safety of neutral automobiles traveling from Shanghai to Nanking. British consular officials told their nationals that trips outside the Inter- national Settlement would be under- taken at their own risk. They said that if the consulate were notified of intended trips it would attempt to make arrangements with Japanese for protection of automobiles. Americans to Follow Suit. The American consulate said it would undertake to make similar ar- rangements for Americans. Yesterday Japanese warplanes ma- chine-gunned a civilian automobile on the Nanging-Shanghai road. The oc- cupants, including an Italian naval lieutenant, escaped injury. Dispatches from North China quoted a Japanese spokesman as saying Chinese probably had received heavy reinforcements in Shansi Province. He said Chinese were attacking Jap- anese supply and comm ation lines in the region, but addec the Jap- anese were advancing. The Japanese North China advance was stopped altogether in some places. In Northern Shantung Province a Japanese withdrawal was reported. (The Japanese cabinet in Tokio ap- proved reductions in government ex- penses of $59,000,000 for the remain- der of the year in an economy move to help meet the cost of fighting in China.) Mooney Prosecutor Dies. SAN FRANCISCO, October 20 (#). —Charles M. Fickert, 64, who prose- cuted Thomas J. Mooney after the {1916 Preparedness day parade bomb- ing, died of pneumonia late last night. As district attorney Fickert con- ducted the State’s case against Mooney and Warren K. Billings on charges growing out of the deaths of 10 persons in the bombing. Both men . Bummer. are serving life sentences. ! lay | Japanese dropped heavy ex- Chinese Flie Home With Foe, Bombs 7 Plane By the Associeted Press SHANGHAIL October 20.—Authori- tative foreign military observers here todav told of an instance in which a clever Chinese flyer destroyed seven Japanese bombers at the Yangizepoo Airdrome. They said four Japanese bombers returning trom @ rafd inland were joined by a fifth plane just &s night fell. The fifth plane swung into for- ! mation with the others and switched on navigation lights when they did. The four planes landed, but the fiftn turned out to be & Chinese raider. The Chin.se pilot soared overhead at less than 500-feet elevation and dropped two heavy bombs. which destroyed the four planes and others. TAX CHANGES SEEN HELPING BUSINESS Modification to Be Asked in Levy on Undistributed Corporate Profits. B3 the Associated Press The Treasury's forthcoming recom- mendstions for tax legislation, fiscal officials said today. may contain some cheering news for business. Although declining to link taxes with the recent stock market slump. these authorities said modifications undoubtedly will be suggested in the levy on undistributed corporate profits. Some persons have listed that lax as a factor in the market decline. Joseph P. Kennedy. chairman of the Maritime Commission and former head of the Securities and change Commission, recently urged relaxation of the levy, which imposes rates rang- ing from % to 27 per cent on undis- tributed corporate surpluses. His statement followed similar expressions 'by Morris 8. Tremaine, New York State controller, and scores of busi- ness men, These spokesmen have asserted that the tax chokes off business expansion, retards employment, penalizes small corporations and forces excessive div- idend payments Business representatives also have blamed the capital gains levy in connection with the market drop. They have said the tax takes so large & chunk of securities profits that discourages marke. trading. Officials reported the Treasury is giving careful consideration to pos- sible modifications in this levy, but declined to predict whether relaxa- tion would be recommended. The Treasury tax suggestions, near- ing completion after months of study, will be forwarded (o congressional committees next month. They are not scheduled for action until the regular 1938 session. As the Tr ble effects of its tax program on business, the stock market slump brought developments in Washington. The Federal Reserve Board received a recommendation from Chairman O'Connor of the House Rule Com- duction in existing margin require- ments, under which securities buyers must put 55 per cent of the pur- chase price in cash. O'Connor, declaring “gambling sins the exchanges have not yet been expiated,” also telegraphed New York Stock Exchange governors that they “should clean your own house first rather than passing the buck to the administration.” TROOPS CALLED OUT IN OIL WELLS ROW Oklahoma Governor Issues Order After Seizure of Shafts by Union Workers. By the Associated Press. ARDMORE, Okla, October 20.— Gov. E.- W. Marland today ordered 75 National Guardsmen concentrated in the Healdton oil field, 20 miles west of here, where Sheriff Floyd Randolph said more than 200 union oil workers had seized 60 wells operated by the Jones Oil Co. Ten stripper leases were seized by members of the oil workers’ union, & C. L O. affiliate, Sunday, and 50 com- pany employes were driven from the wells, forcing a shutdown of all opera- tions. Maurice Daly of Tulsa, State director of the union, said the action was in protest to the recent discharge of 10 union worker: French Ship Sends SOS. ‘MARSEILLE, France, October 20 (#).—Radio stations here announced today they had picked up an SOS from the French steamer Lucie Del- mas. The stations did not disclose the position of the ship, but said the distress message told of two tugs speeding to aid her. Hull Reaches l(ont;eu]. MONTREAL, Qctober 20 (Canadian Press).—Cordell Hull, United States Secretary of State, passed through | Montreal today en route to Ottawa on his informal visit to Canada. He stopped only long enough to change trains three | it ury examined possi- | mittee that it effect a material re-| of the past by some operators on | WITH SUNDAY MORNING EDITION (DNESDAY, OCTOBER 20, BANKING SYSTEM 10 BE IMPROVED, ROOSEVELT SAYS President Dedicates New Federal Reserve Structure. {CLOSER CO-ORDINATION WITH U. S. MINTS SEEN Must Not Suppose We Have | Achieved Perfection, Executive Asserts at Ceremonies. Dedicating the new Federal Re- serve Building, President Roosevelt today predicted further improvement in the banking system and its closer co-ordination with instruments of gov- achieve and free ernment in order “to maintain an enduring prosperity | from the disastrous extremes of booms and depressions.” He made no direct | mention of the big fluctuations in the stock market. Quoting President Wilson, during whose administration the Federal Re- Iserve System was established. M. Roosevelt declared the Nation “'must continue step by step to make the | banking system what it should be.” | “We must not_complacently suppose I that we have schieved perfection,” he warned, &l (he same (me referring with praise 10 changes made by the banking and securily exchange acls of 1933, 34 unud '35 Capable of Adaptation “The Federal Reserve system tested by nearly a quarter of & century 'of operation, is & public institution | capable of adaptation to future as it has been to past needs and tions.” he pointed out. "It 1s & piece of machinery vital to the Nation's steady progress toward the goal of & sounder banking system capable of contributing its full share to lasting economic progress and well-being.” The President spoke from the sec- ond floor in the large story central area of the palatial new Federa! Reserve Building. An audi- ence of Government dignitaries was present and cast nationally. Although the stock market flurry [ was nol specifically referred to. the address was interpreted by many as a aefinite pledge of the administration toward the expressed aims of “the largest degree of economic security and stability.” To advance the country toward this goal is the real mussion of the Federal Reserve System.” declared the President. "It cannot be uitained by that system alone, but neither can it be reached without the proper func- | tioning of our monetary and credit machinery. That machinery must be stemdily perfected and with all other instruments of Govern- ment 0 promote the most productive utilization of our human snd material resources.” Powers lucreased. The Federsl Reserve System, Mr Roosevelt explained, has been given increased power to “improve banking conditions and to aid the Government in combating practices which were | evil in their results. * * * “To this | public body,” he continued, “Congress | has intrusted broad powers which en- | able it to affect the volume and the cost of money, thus exerting a power- ful influence on the expansion and contraction in | through the channels of agriculture, trade and industry. In this way | much can be done toward the mainte- | nance of more stable employment. | Much can be done to-aid in achieving | greater stability of the true value of the dollar.” The new Federal Reserve Building stands on Constitution avenue be- tween two other classic-type struc- tures, the Nalional Academy of Sciences and the Public Health S ice. 1t is one of the outstanding con- !Lrihutions to public architecture in | the Nations Capital. The President was presented by Marriner S. Eccles, chairman of the Board of Governors of the Federal Re- serve System. B - Lorimer's Condition Same. PHILADELPHIA, October 20 (#). The condition of George Horace Lori- mer, 69-vear-old retired editor of the Saturday Evening Post, who is critic- ally i1l with pneumonia, was un- changed today, his physicians re- ported. Mr. Lorimer developed pneu- monia last week from a cold con- tracted several weeks ago. condi- | foyerlike two- | the address was broad- co-ordinuted | the flow of money | LANDON'S ATTACK - HINTS NEW FIGHT 11936 Nominee Calls for Curb on Roosevelt’s Power in | Assailing Policies. BY G. GOULD LINCOLN. | The atiack of Alf M. Landon, the G. O. P’s latest presidential candi- date. on President Roosevell and his administration was interpreled here loday as opening 8 new and more active phase of Republican opposition 1L was construed also &8s an assertion of Landon’s leadership of (he Repub- lican party After wailing almost & year since | President Roosevell's re-election, the former Kansas Governor went afler the Chief Executive. hammer and tongs in a radio speech delivered from “Topeka, He pictured the Presidentl as avid for more and more power. The fail- | ure of the Roosevell administration o bring greater progress in the last four snd & half years, Landon said, was due Lo the fact that the President had | declined to follow “our constitutionsl | form of government” and to Roose- vell's failure “as a1 administrator.” | i Calls for Curb on Power. | Landon agreed. he said. with Roose- | vell's recent statement that “progress lug He called upon the Republicans and the anti-New Dealers generally to hut down on o much power for the President and 10 insist upon workable legislation achieved by constitutional methods. ‘The President, Landon said, insists that “we must do what he says” or go | back to control by “malefactors of great wealth and sweatshop wage: Chis, said Landon. is like the lawyer | who said to a defendant. “Have you stopped beating your wife? Answer yes or no.” Coug. ess, Landon declared, has been called into special session in Novem- | ber by the President to give the Presi- | dent more power. | don. “Now we need a new yardstick | to measure what has been done. It |is time to put & solid foundation of workable legislation under the air castles which the President is forever | blowing.” Questions Foreign Policy. Addressing himself especially to the 17,000,000 who supported him in the (See LANDON, Page A-5) | ve had a new deal.” said Lan- | LAUDS ADDRESS NEW YORK, October 20 (#)—-| Former President Hoover was asked | today what he thought of Alfred M. Landon’s radio address. Here is his comment: “IL was & good speech.” His secretary, Lawrence Richey. through whom the five-word state- ment was made, said Hoover would not | elaborate. Landon has been reported cool to Hoover's midterm Republican con- ventions idea. 'HOOVER Summary of Page. Page. Amusements A-8-9 | Obituary ._.A-12 Auto Przzle A-19 | Radio __._._A-16 Comics B-18-19 | Serial Story..B-9 Editorials A-10 | Society - B-3 Finance A-17 | Sports A-14-15-16 Lost & Found B-13 | Woman's Pg.__B-8 FOREIGN. Italy asks study in Spain aimed at troop withdrawal. Page A-1 NATIONAL, President back at White House for round of conferences. Page A-1 Landon breaks silence to attack Roosevelt policies. Page A-1 Tax law changes to help business, ex- perts predict. Page A-1 Stocks swept up $1 to $3 or more in opening rally. Page A-1 Three probes to be launched in crash of airliner. Page A-2 Jules Henry prominently mentioned as French Ambassador. Page A-3 Fatal “elixir” traced to Tulsa, Okla., and New York. Page A-12 Payne hits other F. C. C. members for disqualifying him. Page A-12 WASHINGTON AND VICINITY, New D. C. tax program up to Com- missioners. Page A-2 Downtown liquor store robbed of $200 in morning hoid-up. ," Page A-3 Today's Star | Ickes opposes staggered hours for U. S. | departments. Page B-1| Suspect held in McMillan knife attack case. Page B-1 Man wanted in Maryland indicted on three charges. Page B-1 Roper urges trade as means of peace in Rotary address. Page B-1 FINANCIAL. Bonds recover (table). Page A-17 | Stocks move up (table). Page A-19 | Curb shares higher (table). Page A-19 | EDITORIAL AND COMMENT. Editorials, Page This and That. Page Answers to Questions. Page Washington Observations. Page David Lawrence. Page H. R. Baukhage. Page* Dorothy Thompson, Page Constantine Brown. Page Lemuel Parton. Page MISCELLANY. Traffic Convictions. Shipping News. Dorothy Dix. Bedtime Stories. Nature's Children, Men’'s Fashions, Vital Statistics. | Cross-word Puzzle, | Letter-Out. | Winning Contraet. City News in Brief. Page A-12 Page B-§ Page B-13 Page B-13 Page B-13 Page B-13 Page B-18 Page B-18 Page B-19 ‘ Page B-20 1937—FORTY on | great help to the entire city.” ¢ Foening Star PAGES. #x* The only evening paper in Washington witg the Associated Press News and Wirephoto Services. (Som, s Associated Yesterday’s Circulation, 142,981 TeLurns not yel received TWO CENTS. Press. B gw W L iy Y AV / ’ WAITING FOR THE ECHO. | ‘_I/ZW/// , /‘ i 'STOCKS SWEPTUP | | | 1 \ 1%, / i 1 A ppreciation and Approval Voted at Meeting, Assuring Complete Cover- | age of Program in Schools. HE District Congress of Parents of its 69 associations and 15,000 and Teachers today threw the weight members in Washington solidly behind The Star's art appreciation campaign In & meeting held in the National Education Association Building vesterday, the presidents’ conference of heads or their representatives, “appreciation and approval of what T tion of art in Washington.” This action assured 100 per cent adopted f the congress. composed of association unanimously & motion expressing he Star is doing to promote apprecia- | coveruge for the campaign in Wash- ington schools, because distribution of sample prinis and literature 1o teachers in the public elementary schools, junior and senior high schools and teachers colleges was concludea yesterday. foll of the District Board of Education Parents to Parent members of the P.-T A. pot only will further the program in the lowing tecent unanimous indorsement Study Art. schools and among their own childrens but also will study it themselves in assoviation meetings. ‘The motion was presented by Mrs. Clinton Ward, chairman of the ari section of the District P-T. A and hersell an art (eacher. Mrs. Ward commended the campaign in which The Star and the National Com- mittee for Arl appreciation are offer- ing at very nominal prices 48 famous paintings of old and modern masters, coming in sels of four each week for 12, weeks, each sel accompabied by & lesson in art appreciation. by Dr Bernard Myers of New York Uni- versity. “There Were DUBIEIOUs €XPreasions of friendly imerest.” Mrs. Ward said after she had distribuied Lo the P.-T. A. presidents Informative material the art appreciation program “Furthermore, it will be (ranslated into action. To Arrange for Sels. “Many of the presidents said they | the famous but were paintings securing sets of for themselves, | they will see that sets are secured for They also will interest in the pictures and their schools. their children iessons.” The art project will be made a part of the parent education program of the congress in the District, Mrs. Ward announced. Therefore the campaign will be carried out in every possible way by the P.-T. A, with pictures in the schools, stimulation of art appreciation among children of mem- bers and study by the parents them- selves. ~As for modern ar,” said Mrs. Ward, “we explained that even if this couldn’t make some parents like mod- ern art, it would make them under- stand it, and if they understand it we feel sure they will like it better. “We feel that The Star is giving us a splendid thing,” Mrs. Ward con- cluded, and “we are going to take full advautage of it."” Club Womeén Indorse Plan. Meanwhile, the art campaign con- tinued to win unqualified support of club women in the District. Mus. J. T. Maguire, president of the Chevy Chase Women's Club, described it as & “marvelous idea” and said it would tie in well with the art program of the club which already is under way. “We are very much interested, she said, “because last year we col lected reproductions of the old masters and studied them. Mrs. Henry DeC. Adams, chairman of the art section of the club, ex- pressed “hearty approval of the entire project” and said “it would be of She will discuss the 48 famous paintings at the next meeting of the art section on November 9. Mrs, Oscar H. Nelson, president of the Petworth Women's Club, said “it seems to me that it is very worth while. It will be & contribution to the educa- tion of many of us. As & whole, I am very much in favor of The Star's art appreciation campaign.” Mrs. R. K. Bailey, art chairman of the club, likewise expressed approval. RIDE OUT STORM Soviet Arctic Camp Shifts 19 Miles in 24 Hours. MOSCOW, October 20 (#).—The Soviet Union's Arctic campers dis- closed today they had ridden out a howling windstorm which shoved their jce floe westward about 19 miles in 24 hours. ‘The camp's radio aerial wasSilenced for 18 hours—the first such incident since the meterological research base was established five months ago. There were light clouds today and & moderate west wind. The tempera- ture was just b,\'c zero Fahrenheit, now | MRS. CLINTON WARD. —Harris-Ewing Photo. ROOSEVELT BACK FOR CONFERENGES |Parleys on Farm, Budget‘ and Housing Plans Are Arranged for Friday. | BY J. RUSSELL YOUNG. | President Roosevelt turned his at- | tention to domestic problems, includ- ing the bewildering state of the stock | market, on his return to Washington | today after & week's vacation at Hyde | Park, N. Y. Back at his desk, the President lost no time getting in touch with | State Department heads for & check- | up on the latest developments in the | international situation, particularly | the hostilities in China. Before leaving Hyde Park yesterday | Mr. Roosevelt outlined the terms on | which this Government will partici- | in the Brussels conference 10| the situation in the Far| able | pressed Wali D.C. Parent-Teacher Congress | " Indorses Star’s Art Campaign ! trading hastening an end of the regretl coriflict which prevails there.” President said Norman H, Davi will represent this Government &t the | conference, will do so “without any | commitments on the part of this Gov-| ernment to other governments. | This explanation by the President is interpreted as a direct answer to the attack made yesterday by Senator Johnson of California on the adminis- tration’s international policies | Mr. Roosevelt had & number of other engagements besides the luncheon conference with Morgenthau and | Wallace. Among them were Edward | O'Neal and Earl Smith, farm organiza- tion representatives; Clifford Gregory of Towa, editor of Secretary Wallace's Farm Journal, and Dr. Louis Robin- son, chairman of the Prison Industries Board. Today he received two foreign call- ers—Maurice Duperrey, French presi- dent of the International Rotary Clubs, and Hjalmar J. Procope, former min- ister for Foreign Affairs of Finland. Duperry was accompanied by Jules Henry, charge d'affaires of the French Embassy, and George H. Harris, for- mer International Rotary president. Late this afternoon the President will confer with Secretary of the Interior Ickes, who will be accompanied by Nathan Straus of New York, recently appointed head of the Housing Au- thority set up under the Wagner hous- ing act. f The | , who §1 10 §7 A SHARE IN BUYING RALLY Ticker Drags Behind Market, Indicating Strong Sup- port to Brokers. WALL STREET'S JITTERS BELIEVED ABOUT OVER Corporate Bonds Stronger and U. S. Government Loans Re- cover Much of Losses. | By the Assacinted Press NEW YORK, October 20 —A broad buying movement swept the stock mar- ket today, as traders followed through yesterday's late-hour whirlwind rally after a spectacular decline Many stocks of the country’s lead- ing companies were from $1 to $7 a share higher by midafternoon. Farm implemen’, retail store, utility, most metal and aircraft issues were in the van, with some steels hesitant. The ticker tape dragged behind the market on the reco a sign to brokers that SUpPOrL Was sLrong In many quarters the belief was ex- Street’s jitters, which inated yesterday in the heaviest sell-off in years before the late rally began. were about over As the second hour of trading wore on. prominent gainers included such a wide range as U. S. Rubber. Chrysler. Du Pont, J. 1. Case, Sear Roebuck. Coco Cola. American Can, Kennecott, Copper. Douglas Aircraft, Santa Fe, Phillips Petroleum, Westinghouse and Youngstown Sheet & Tube. Corporate Market Stronger. The corporate bond market, which took & beating vesterday was stronger today, with gains ranging through most sectors. U, 8. Gevernment loans recovered wide slices of yesterday's losses. Investment trusts, which yvesterdar entered the market on the buving side | were said today to be picking up se- lected stocks which they considered undervalued. The buying from thie ource was not believed heavr, how- ever Brokers said there was an accumu- lation of buying orders on hand when commenced, but that there were some sellers in steels. The exten- sion of yesterday's late rally. which carried leaders up after the heay selling in years, seemed under way in early dealings. Steel Equities Drop. Steel shares were lower, with profit selling apparent. traders said. United States Steel was down around $3 and Bethlehem around 75 cents. Chrysier ulso opened lower. The first block of United States Steel to sell totaled 6.000 shares Woolworth was $2 higher, Sears Roebuck added $2.75 and American Can was boosted $4 in initial trans- actions. Youngstown Sheet & Tube was an exceplion in the steels, gaining $2 in early dealings. Foreign markets were quiet, with a tendency to slightly lower prices on trans-Atlantic stocks. Brokers with foreign connections aaid early orders from abroad about balanced on buying and selling sides. CLEARING WEATHER ROUTS FLOOD FEARS T Fair and Slightly Cooler Forecast for Tonight as Rains Cease in Potomac Valley. Clearing weather over the Pntomar Valley today dissipated fears of high water occasioned by the heavy rain- fail which piled up almost 2'¢ inchex precipitation here since Monday night The forecast today was for “fair and slightly cooler tonight: tomorrow fair.” Meanwhile, Hagerstown, Md., reported rains had ceased in the upper Potomac Valley, although the river was rising near there at a rate of 2 inches an hour this morning Farther up the river, at Cumber- land, Md. the water level was at & standstill and a drop was expected Power plant attendants said there was no danger of a flood Rainfall here this month is more than 2 inches above normal and the whole year has been wetter than most years by about 9 inches, A heavy rain, swept by blustering winds, drenched Washington about daylight today. but clearing weather soon set in. The rains began here Monday night and for 25 hours there- after the city experienced a constant downpour Ex-Boy Wonder Of Wall Street Held as Trader By the Associated Press. NEW YORK, October 20.—Harold Russell Ryder. 41, once called “the boy wonder of Wall Street” and “Little Boy Blue of Broadway,” appeared in the line-up at police headquarters today, charged with violating his parole from Sing Sing Prison. Ryder was with the brokerage firm of Woody & Co.. which failed some time after the market crash of 1929 with liabilities of $2,837.000,. and he was sent to Sing Sing in 1931 to serve from 3 to 10 years on a grand larceny conviction He served two years and seven months and was paroled, with the stipulation that he stay out of the securities business until the expira- tion of the parole in 1941 “You were in a brokerage office at 115 Broadway yesterday at the time of your arrest, weren't you?" asked Lieut. James Pyke. “Yes," Ryder said calmly. “What were you doing “I was trading.” Ryder said He was removed to the Tombs whilg police checked on his recent activities.