The Key West Citizen Newspaper, October 31, 1933, Page 1

Associated Press Day Wire Service VOLUME LIV. No. 258. an Millionaire Today Found ~ Later On At His Farm Louis E. Brooks Taken To Office And Forced By Captors To Open Up Iron Safe (Ny Anneetated Frena) MARSHALL, Michigan, October. 31.—With his ‘face bruised and showing eviden- ces of a beating, Louis E. Brooks,” millionaire » manu- facturer, reported kidnaped'}” today by two. men woman, was found at his farm near Battle Creek. He told officials his cap- tors released him after es- caping from his office where they looted the safe. He said after being forced to open the safe he was tak-} en in his own car along a side road toward Battle Creek, 20 miles east of here. There, he said, his captors stopped, locked the ignition and hid the key, telling him the general location of th drove to his nearby farm. He said there was only a small amount of money in the safe, TAKEN , AWAY, MARSHALL, Michigan, Oct. 31.t Louis E. Brooks, — millionaire rupture appliance manufacturer |ARAB SNIPERS STILL RIOTING IN JERUSALEM Managing Money : —. The Kep West Citven KEY WEST, FLORIDA, TUESDAY, OCTOBER 381, 1933. A ‘New Job For The New Deal FLEXIBILITY IN THE DOLLAR’S GOLD CONTENT 900 0000000000005 000 006000 OCOOSCOOTOOOTOOOOOOLO® BSSesacveseovecececcesoeS By RADER WINGET (by Ansoelated Press) NEW YORK, October 31. —tTheories of currency con- trol as advocated by Prof. G. F. Warren apparently have been utilized in important parts in creating the new government monetary policy. The Cornell University professor who is a member of the Roosevelt brain trust proposed the theories as a stabilization factor. Under the Roosevelt plan, stab- BLAZE AWAY AT GOVERN: | ilization is sought in one phase MENT OFFICERS IN CONNEC: TION WITH - ANTI-JEWISH DEMONSTRATIONS (My Ansocinted Pres) JERUSALEM, Oct. 31.—Dawn strewn with nails today, presum- ably by Arabs’to hinder trans- porting of government forces or- dered out in behalf of the anti-: Jewish. demonstration. Snipers blazed away at govern- ment = officers _intermittently throughout the night and police returned the fire, but there were No casualties te add to the 30 dead and hundreds wounded. in previous rioting. Emergency law was called into effect today in an effort to pre- vent further outbreaks. It vests the administration with wide pow- ers—including court martial au- thority. we THIS HAPPENS IN SPITE OF _ROOSEVELT’s INTENTION OF BUYING METAL IN FOR- | EIGN MARKETS (ily Associated Press) WASHINGTON, Oct. 81.— ‘and former mayor of Marshall,;World price of gold abruptly was kidnaped this morning by two slumped today in spite of Roose- men and a woman whe bound and|yeji’s announced intention of buy- sagged the watchman et the ing the metal in foreign markets, Brooks plant and left town in the jpat nevertheless the domestic price RFC will buy was.ad- ‘to another new high. GUE ‘While awaiting assurances from meenn| London that the president’s awl proaching operations would _ not ‘arouse retaliatory action and pre- cipitate monetary war, the admin- istration set a price for the day of $32.12 for gold fresh from domestic mines. Today's world price, converted into dollars at 4.75 1-2 to the pound, opening exchange rate, was $1.07 less than the domestic quo- tation, ISSUES CALL FOR SESSION TO BE ONE OF MOST IMPORTANT YET TO BE HELD BY BODY One of the most important meet- ings to be held by the Economic League of Key West since its for- mation is scheduled for tonight. There are a number of matters pertaining to the coming election that are to be discussed and in, order to get an intelligent idea of on the rolls to attend, Another matter to be discussed is the public speaking Friday night, at which candidates propos- ed by the league and others in sympathy with the economic plans of the organization are expected to be heard. : Oct.31-1t, WALKS Ww rr NEW YORK—A. B. Ballaguer was found on the streets of this) © city walking in his sleep with no clothes on. (By Associated Press) WASHINGTON, Oct. 31.— The comptroller of the cur- rency issued a call today for condition of all national banks at the close of business Wed- mesday, October 25. WHERE TO GO Secoceoveceseossooese TONIGHT Cuban Club—Costume ball. Strand—“Ladies Must Love” and “Golden Harvest.” TOMORROW Strand “My Woman” and “La- dies Must Love.” commodity price level mean that any single commodity will be free from fluctuations in through the fixing of the price of gold in domestic markets. Aims At Price Stability Professor Warren has pointed to a proposal for a managed cur- reney to be controlled by central banks in such a way as to keep the average of commodity prices stable. The Reconstruction - Finance and ajtevealed streets of the Holy City/corporation, under the Roosevelt plan, could be compared to a con- trol bank which manages the cur- rency through gold price | estab- lishment, Professor Warren’s compensat- ed dollar plan was a proposal to establish by law a currency re- deemable in gold, but the weight of the gold for which the dollar would exchange would vaty with the index number of wholesale prices of all commodities. Compensation Planned As he explained it, if prices rose 1 per cent, the weight of gold for which. the dollar would exchange would rise 1 pereent, and the same in reverse would follow. “This would keep the dollar stable in buying power for the average of all commodities,’ he said. The dollar has to be rubber, he ‘contended i as to value; it cannot have a fixed value. “This proposal would give it a fixed value and a rubber weight . . A scientific money is one with a constant buying power for all commodities rather than a fixed weight of one commodity,” he said. Fixing The Geld Price (Under the ‘Roosevelt plan the dollar price Of. gold. will be fixed from time to time by the Recon- struction iance Corporation aft- er consultation with the president and the secretary of the treasury. In effect this would mean the dollar weight in relation to gold will be changed as conditions in domestic markets warrant. Warren Favors Plan Professor Warren said, “Our whole tax and debt structure rests on commodity prices. Tf this structure is to be kept sound either for the creditor or the debtor, it is commodity prices that need to be kept stable, not the weight of ee for which a dollar will ex- ” : He viewed price stabilization as & mass action: ' “Stabilizing the does not price due to the supply of it or the demand for it,”. he said. “It does mean that commodity prices as a whole may be freed from being swept up or down as a mass due either to world supply of gold or frantic changes in the demands for it.” DIRECTED AGAINST COMMUN- IST IN REICHSTAG FIRE PROCEEDINGS (Ry Associated Press) BERLIN, October 31.—Ernst} Torgler, Communist leader was ac- cused from the witness stand in the Reichstag fire trial today of having plotted arson, as courtroom spectators sat agape, Gustav Leberman, now serving a prison term for robbery, testi- fied Torgler sought his aid in fir- ing the Reichstag several times in 1931-32. He said the former Communist whip also plotted a string of other sabotage acts. For 58 Years Devoted to the Best Interests of Key West PRICE FIVE CENT: ‘Porter States He Will “Fight To Last Ditch” To Secure Loan For Financing Overseas Bridges FL hh hha had ke | CITIZEN BELIEVES The managed dollar as seen by Prof. G. F. Warren of Cornell sity (above) might be likened to an “elevator” or conveyor to lift commodity prices. APPROVAL FOR 'WIGGIN HEARD IN RAIL BRIDGES! ASSISTANT SECRETARY OF rEe_Ls INVESTIGATORS WAR SANCTIONS PROJECTS i NET: EQSS IN CHASE NA- TIONAL BANK OF FOR RAILWAY COMPANY (By Ansociated. Press) (Ny Associated Press) WASHINGTON, D. C. Oct. 81.— WASHINGTON, D. G., Oct. 31. H. H. Woodring, assistant secre-)__Albert H. Wiggin, former Chase tary of war, yesterday gave his} National Bank president, told sen- approval to plans for two bridges) ate investigators today his person- of the Florida East Coast Railwayjal corporations had a net loss of extension near Key West. more than’ $5,000,000 from _ par- ‘One/of the projects is at Salt} ticipating in pools and. syndicates Pond Bight near ‘the station at} with Chase Securities Corporation. Key West and the other is between} He also testified to the forma Stock Island and Key West, about! tion of three companies in Can. three miles from the city. ada, saying he hoped to benefit MISS WILLIAMS BACK FROM TRI Miss Ieen Williams, secretary of | the chamber of commerce, who| was in Washington on business last} week, returned over the highway last night. In company with Miss Williams} in payment of income taxes through them. He added he whether this purpose achieved. STORM REPORT WASHINGTON, October 31.— Advisory: 10: a. m.—The tropical disturbance was central this morn- ing about 70 miles south of Guan- tanamo, Cuba, warently moving were her mother, Mrs. Peter H./ east-northeastward about 5 miles Williams and Miss Minnie Porter} per hour attended by shifting gales Harris, who were visiting for the; but of small diameter. week in Miami as guests of Captain; Caution advised vessels in Wind- and Mrs. George T. Rice. ward passage. did not know had been A Worth While Project (Friday Night, Miami, Fla. ) The federal placed before way bridges to Key West the most worthy of consideration and one that should be ediate id. one of the most » but it would open up the w: and ae: of the greatest resort attractions pic- Key West itself, being the farthest south city of the United States, i: strategic point, whether considered from military or commercial view. It is but 90 miles from Cuba, and, with proper developme would be the closest point for South American The proposed Overseas Highway bridges, linking Key West and the other Florida keys with the mainland, will give employ- ment to several thousand men. It would develop the rich fishing grounds and bring thousands of additional inhabitants to a rich country. The people of Florida, as well as other southern states, are be- hind the project. They believe, and rightfully so, that the project would not alone be scif-sustaining, but that it would pay off its obligations to the government in a short term of years. The federal government is desirous of aiding the worthy pro- It has the funds with which to carry out that recovery . And certain! nly, project that would give several years ‘employment to several thousand families, and that would aid in ‘the development of both domestic and foreign trade, is something mere than a mere scheme to secure funds. A permanent investment, yielding revenue year after year, is worth serious and thoughtful especially when it is considered that the thousands of people interested are interested, for personal gain, but for the welfare of the whole country. SENATE HEARING|- BRIDGE LOAN WILL BE MADE THIS WEEK’ It is true, as was reported throughout the city this morn- ing, that The Citizen received an “unconfirmed rumor” that the bridge . proposition had been “turned down flat,” but on the receipt of that mes- sage, The Citizen wired Wil- liam R. Porter, who is in Washington furthering the in- terests of the project, and was assured by him that such is not the case. “It has not been turned down yet,” Mr. Porter said, and added that he might have additional information by Thursday. That “additional tion,” The Citizen will turn out to be that the loan has been granted for the construction of the bridges. In other words, it The Citizen's firm belief that th Public Works Administration will grant the loan and that it will probably be this week. 6 heubukiah dh dey informa- believes, NEW PLANS ON CODE MATTERS, AGREEMENT ROOSEVELT ssas| RECEIVED FROM STEEL IN- DUSTRY COMPLICATES EX- ISTING CONDITIONS (iy’ Anboctated' Preae) WASHINGTON, October 31.— Such confidence was shown to-! day at NRA headquarters that dangerous captive mines labor troubles would meet a solution in an agreement Roosevelt obtained from the steel industry, that Gen- eral Johnson made plans to start on a flying tour west Saturday. Only if the question of Henry Ford’s compliance with the auto- mobile code becomes delicate is he likely now to change the start- ing date. The primary object is to make a bold attempt. at wooing the farm belt out of dissatisfaction with the recovery program. REPORT CYCLONE NEAR SANTIAGO NATIONAL OBSERVATORY RF- PORTS DISTURBANCE OF MODERATE INTENSITY (By Associated Press) HAVANA, Oct. 31.—The Na- tional observatory reported a cy- clonic disturbance of moderate in- tensity was passing over Oriente} Province, with the center estimat-| ed near Santiago City, capital | the province, which reported heavy | rainfalle during the past 48 hours. Five rivers were out of banks sa | to 15 feet, destroying crops and) several small houses. No loss of life or injury was re- ported. STRAND “STRAND THEATER | | June Knight—Neil Hamilton in LADIES MUST LOVE Richard Arien-Genevieve Tobin in GOLDEN HARVEST — = 10; Orches-§' 15-28 jlater that hubby was still alive. Sedden ilinesg. Guilty.” MAIN SPONSOR OF GREAT PROJECT SAYS AP- PLICATION HAS NOT BEEN TURNED DOWN AS YET; CLAIMS HE MAY HAVE ADDITIONAL INFORMATION BY THURS- DAY By PAUL MAY Spectal Washington Correspondent of Thé Citizen WASHINGTON, D. C., Oct. 31.—Wm. R. Porter, when located this morning, registered little surprise when informed at his hotel that the bridge’ appli- cation was reported to have been turned down. “It has not been turned down yet,” he said, em- phasizing the final word. “I shall fight to the last ditch.” He said he might have additional information iby Thursday. Porter said the Overseas Bridge and Toll Com- |mission still had the project under consideration. At 11 o’clock this morning at the request of Mr. \Porter, Senator Fletcher’s office communicated with the Public Works Administration and was informed, it was said at the senator’s office, that no definite ac- tion has yet been taken in regard to the Key West bridge application. of other applications concerning which no formal an- nouncement is as yet ready,” Senator Fletcher’s of- \fice was informed. Senator Fletcher’s office also said that the sena- tor’s ready to do anything in regard to the bridge application that Mr. Porter may suggest. Mr. Porter said that he intends to remain in |Washington until the bridge application is definite- ly settled. Unconfirmed Reports Stated Application Had | Had Been Denied The Washington correspondent of spondent. of "The Citizen ‘last Noes advised that unconfirmed reports, emanating from .s high soerce, showed that the Public Works Administration hud denied the application of the Overseag Bridge and Toll Commission for # loan of $12,000,000 to construct two bridges over the water gaps between Key West and Miami. Later a wire was received stating that the Public Works Admin- istration is reported to have held up any action on the application pending word from Secretary of State Hull and Secretary of Com- merce Roper. Whether the application, as reported, was turned down be- cause of opposition from the cabinet officers could not be learned, but it is said that international complications arose by reason of shipping to Cuba and other foreign countries. Action of the Public Works Administration need not necessarily be final, as an appeal can be carried to President Roosevelt, and this will in all probability be done. Representative Mark Wilcox, W. R. Porter and Judge H. H. Tay- lor have been in conference with the office of the secretary of state and the office of the secretary of commerce, all of the confetences for the past few day: being arranged by Congressman Wileox. Shortly after 11 o’clock this morning another wire from the Washington correspondent of The Citizen, printed elsewhere in this issue, throws an entirely different light on the matter. ‘This shows, indisputably, that no definite action has been taken on the bridge matter. This is confirmed by a reply to « telegram a Mr. Porter by The Citizen. This was received st 11:30 o'clock as follows: “On receipt of your telegram 1 requested Senator Fletcher's office to make direct and definite inquiry to the Public Works Administration officials. “They advised that our project is still under investiga- tion and that no action has yet been taken. We are con TOO HASTY GIVES EXCUSE CHICAGO.—Notified that her; CHICAGO. — Summoned for jhusband had died in s hospital, speeding is this city, Robert Mor- iMrs. J. M. Blanford of this cityirison drove to his home in lows ordered a coffin, but found outiand telegraphed: “Can't appear.