The Key West Citizen Newspaper, April 30, 1936, Page 2

PAGE TWO ‘The Key West Citizen | Published Daily Except Sunday By THE CITIZEN PUBLISHING CO., INC, ARTMAN, President N, Ansistant Business Manager From The Citizen Building nd Ann Streeta JOE ALI Greene Corier Newspaper in Key West and Monroe County. un'y Daily ntered at Ke la, as second clars matter | the Associated Press y entitled to use s dispatches credited to | redited in this paper and also | shed here. CRIPTION RATES une Year - sat a -$19.00 j gix Months 5.00 Three Months 'TISING RATES application, SPECIAL NOTICE All reading notices, cards of thanks, resolutions of respect, obitua . ete., will be charged for at the rate of 10 cents a line. Notices fer entertainments by churches from which @ revenue is to be derived are 5 cents a line. The Citizen is an open forum and invites discus- sion of public issues and subjects of local or general anterest but it Will not pubiish anonymous communi- cations. IMPROVEMENTS FOR KEY WEST ADVOCATED BY THE CITIZEN Water and Sewerage. Bridges to complete Road to Main- iend. “r-e Port. Hotels and Aparements, be.hing Pavilion. A:ports—Land and Sea. es woiidation of County ‘and’ City €evernments, As futi tile as a mass meeting. We have been told that $1,000 bill dear the portrait of Salmon P. Chase, but, of course, this is only hearsay. writ “Ike We didn’t but anyway it’s Har- A rural correspondent fiarper was married last week. get the lady’s name, per now.” teaders ae think back a quarter of ace ne y will be amazed at what we “must today that we never saw twenty- Ts ago. have” five y' Bolita raids conducted by the Tampa police retted the city $1.050 in ten days What's the matter, are the out on a strike? “collectors Those tax dodgers who will not pay their taxes, add inoult to injury when they suggest to others not to/pay theirs. Such a procedure is despiccable. During these days meet people with a patronizing smile, just remember that election time is drawing! And smile back; it won't hurt. you happen to near. According to the recent estimate of the League of Nations, the population of the world two billions. Assuming this estimate to be correct, and to form an idea ; of the vastness of the soldier bonus, © it means that Uncle Sam could give each} man, woman and child in the worlda dol- lar bill and have enough left over to add | a five dollar bill as a ‘‘contra” ie er man, woman and child’ in the Cugted States. President Roosevelt spent more than $5,000,000 each on the Florida Trans- State canal and the Passamaquoddy dam, neither a proved or worthwhile — project. | Then along comes Congress and damns the Florida ditch and ditches the Passama-! Key Westers like to visual- ize what monumental bridges that abso- | lutely wasted money would have given them, and what a fine advertisement it would have meant to the entire state. quoddy dam. not Wester who does not ation of the F. E. C. Ry., and if there were a scintilla of a chance to} have railroad communication resumed, | this paper would exert itself to the utmost | to aid in bringing about this desideratum. 3ut this hope must be abandoned and there is no recourse but to become recon- ciled to the railroad’s conversion into a highway for which the federal govern- ment is ready to supply the funds. Any attempt to frustrate the government’s deci- sitn'will only put off the completion of the road to the mainland, with the gloomy | eventual prospect of complete isolation of this city. | ied there is one genuine K want the resto’ ~ 4; equal ! War”, attacks this assumption very vigor- } areas would have been glad to | United States, ; will come to the aid of the Slavs. {ment for her war against Ethiopia may COLONIES AND POPULATION PRESSURE In most discussions of world peace | one hears much about the unsatisfied na-! tions which have failed to get their share | of the world as compared with other na-! tions. Into this class Germany, Italy, and } Japan are usually placed, with the infer-| ence that trey look to war as a means to| the distribution of the natural! liches of the world. There, is no doubt} that nationalists in the countries named | work on the theory that new territery and i colonization to provide raw materials are | ary whether the assumption is true or false. sir Norman Angell, in a recent book, “Raw Materials, Population Pressure, and { nece ously. Looking at the record of Great Britain, which has more over-seas colonies than any other nation, the author points to an unemployment problem at home. Sig- nificantiy, it ha: not been solved by ex-| pansion abroad and, in faci, in 1934, “20. 000 more Britons returned from the over- seas territories than went thereto.” The population press relieved by | the availability of colomal areas where ithe same unemployment problems existed. Moreover, s the writer, these colonia! sell raw materials to Germany, #apan, and Italy if the :o-called “hungry” nations had been able to pay for them. Sir Norman points out that Japan has owned Korea and Formosa for many years and that while both are relatively sparsely ee fe there were only 180,000 Japanese | : Formo’a and 400,000 in Korea in 1925. i nearly 40 years, he said, Japanese colo iis took less than one year’s increase of the Japanese population. He points out that in the 2000 square j miles of Kritrea “most suitable for Italian 400 Italians. | re was hot vevidents”, there are about Mussolini’s dream of sending farmers to Africa appears to be disposed of by the} statement that 84 Italians are engaged in agriculture in Eritree. In Libya, another | Italian colony, only 90 Italian families moved there in 1934. | Surveying German, situation before | the World War, when she owned colonies, Sir Norman says that there were more Germans earning their living in Paris than in all the colonies combined. He adds j that when Germans and Italians quit the homeland, they usually emigrated to the} Canada, Argentina, and Brazil While the British writer seems to have effectively di posed of the idea that | the ion of colonies can effectively relieve population pressure in Germany, Italy and Japan, he does not deny that the rments of the countries, backed by | popular belief, desire them, or that there | may be a fight lurking behind - such de- res. He has no “cure” to offer, although suggesting lower and stabilized tariffs, an |* end to currency manipuiation, and a_ re-! turn to free exchange of goods andj} services. po: ses gove 1 THREE ENDANGER PEACE } Three nations, dissatisfied, aggressive and ruled by dictators, are causing most of the worry in the world today. Germany \% and Italy act entirely as Hitler and Mus-! solini dictate; the policies of Japan are} controlled not by a dictatorship but by the | militarists as a group. These are the three | nations which alarm the world and en-j} danger peace. ai The possibility of an alliance between ! these three nations is not to be dismissed. There are ample signs that Grmany aaall Japan have already reached a_ sub-: stantial agreement, both actuated by a desire to take territory now belonging to Ru: sia. The conclusion of the Franco-Rus- | sian alliance has materially aided the Rus- sian position by making it certain that if Germany wages an aggressive war France Whether Italy would cooperate with | Germary depends largely upon several factors in the European situation. Italy op- | poses Germany control of Austria but this | opposition might disappear if the two! nations convicted each other. of | friend-' liness, The treatment meted out to Italy by the other nations in the Lague as a punish- impel the Italians to make the alliance; with Germany. This is why France _hesi- tates and opposes stern measures against Italy, fearing to drive the Italian forces into a tie-up with Germany. { Little |New THE KEY WEST CITIZEN You and Your, Nation’s Affairs “Cash” Margins By CLARENCE W. FACKLER i1 Assistant Professor of Economics, New York University "Largely ause,of recent regula- obs Of the! ‘Ve Board, the feel- ing is gtowing that the law of gravita- tion no longer applies to stock prices. Investors are again dancing on the specula- tive volcano. And, so en- trancingly sweet is the music of the $20 billion rise in prices dur- ing the last 12 months that many lessons have faded from their memory. For- gotten is the fundamental truth that one’s financial security depends upon his own actions and not upon the judg- ments of others. Out of all the talk about stock market regulations to protect inves- tors, comes much misdirected com- ment to the effect that the price rise is so sound as to occasion no cause for alarm. One argument seems to be ; that since April 1 speculators have not been able to borrow from brokers more than 45 cents on every dollar's worth of securities purchased, where- as in the New Era days of sublime nonsense, they could borrow 70-or 80 cents. Moreover, according to the latest regulations, even banks after May 1 must discontinue lending around 70 cents per dollar’s worth of registered securities, as has been their custom. Thereafter, they can lend no more Otiecites tapeslcan sill land cr a any collateral at the old rates for any commercial, agricultura!. or industrial purpose, or for any other purpose.” Consequently, the practical difficulty of seeing that a dollar is properly borrowed, and of following itso By f its re; Dia ete ee his ae credit later for stock market speculation in a manner that will be hard to check. Margin’ ‘calls can ‘be made just as easily a3 in 1929 when much smaller equities sufficedAnd, if traders, feel- to buy ‘to anywhere near, the limit of their resources, the decline may be quite severe. The chance for gain is always greater when the market fluc- tuates than when it advanzes without interruption, for the reason that trad- ers can profit from “selling! short” as well as by “going long.” This appar- ently has been lost sight of. So, by the new margin rules, the Reserve Governors have only gone through the motions of tying the spec- ulative sack before it is too full. They have only presumed to knot it well; and in so doing, have given the ap- pearance of being entirely satisfied in letting the bag fall as it will. This attitude is very noticeable in the re- marks of Governor M. S. Eccles, who has assured the public that “security purchases are being financed out of cash,” thereby allowing the inference to be drawn that the “cash” has not been obtained by borrowing. It is hard to imagine that while the Board winks at the growing volume of bank deposits resulting from gov- ernment spending, it is totally blind to the fact that these deposits have really arisen out of government loans, ‘and that standing now to the credit of individuals and business houses these funds can be used, and, indeed, are being used for speculative purposes. Certainly it is foolhardy to strum too | much on the strain that securities are bought with “cash” so long as the “cash” originates by borrowing. The mere fact, then, that specula- tors have put up large “cash” margins, or have even purchased stock out- right, does not make them any less susceptible to fear, or any less in- \ clined to sell in the face of bad news. (Address questious to the author, care of this newspaper) cm TODAY’S Lowest Highest Station— ast night last 24 hours | Ab‘lene -« 68 96 Atlanta. 64 80 Boston .. 58 62 Buffalo _..... 48 66 Charles 62 74 Chic = 46 78 Denver ~....... 44 60 Detroit _...... 48 10 . Galve ~ 2 738 74 Huron 3 Jecksonville 62 Kansas City .. 70 KEY WEST _ 72 Rock 68 Los Angeles .. 52 Louisville =e : Miami ~ 2 Minneapolis .. 46 Orleans 68 New York ...... 56 Pensacola ...... 64 Pittsburgh... 60 ieilake City 42 n Francisco 5 Sezttle Tampa : | Washington Williston Temperatures* Highest Lowest 12 Mean Se eS Normal Mean .... ee Rain fall* : Precip Ms esterday’s nal “Phase emeia at 05 oo. Sun rises Sun sets Moon r Moon 251 a.m 7 p.m. - 3:00 p. m - 2:43 a. m. omorrow’s Tides PM High soe 7:15 \Low : a2; 2 CITOOOOOeH: WE ARE ALW. The First National TI PPIOPLIAZLELLALPALLE ZT & TO MEET AND TO SERVE OUR VISITORS Member of the Federal Reserve System Member of the Federal Deposit Insurance Corporation U. S. Government Depositary W E A T H E R } action “of the state road depar | ment’s decision to reroute the —_——————__Y | Barometer 8 a. m, today: | Sea level, 30.10. WEATHER FORECAST (Till 8 p. m., Friday) Key West and Vicinity: Fair sibly showe! and east wi Florida: Fa’ jtonight and Friday except |sibly showers on the | south coast Friday. | Jacksonville to Florida Strait: B | | Hl ; moderate northeast | ° pos- extreme and East Gulf: Moderate north- ; east and east winds; fair to part-! ly overcast weather tonight and possibly scattered show r extreme south portion. k CONDITIONS Pressure is moderately low this :morning throughout most of the Plains Ststes and Rocky Moun- | faa region, Dodge City, Kani ' 29.86 inches; while high pressur jareas, crested off the middle At- coast, and over the north Pacific States, and the Canadian i Province of Ontario, overspread mainder of the country. Hat- s, N. C., and New York Ste. Marie, , and Rose- burg, Oregon, 36.°6 inches. Rains , | and thunderstorms have occurred j during the last 24 hours from the ; ie ke region southward to treme northwestern Florida, ™ the north Atlantic States, and in! |portions of the northern Piains} | States, and extreme upper Mis- ppi Valley, being locally! ‘heavy in South Dakota, Huron. | {1.46 inches. There has also been! ilight rain in the Pac Stat fom San Francisco and in the central Rocky Moun- tain and Plateau regions. PPP PPD AYS PLEASED Bank of Key West iy, \ N N he Ny N) N) & & N iN) & & & . 8 ing overly secure, have been disposed | tonight; Friday partly cloudy, pos-! to partly cloudy | northward, | KEY WESTIN < DAYS GONE BY. Happenings Here Just 10 Years ‘Ago Today As Taken From | The Files Of The Citizen i Information was received by | The Citizen from Washington to- lday advis ng that the United 'States Engineering - department | has approved Monroe county’s ap- {plication for the construction of qe bridge ‘oss Steamboat Creek channel if iconhection with the Sea Highway to the main- igi atid was at first some dis- | cuésion ‘relative to the construc- | tion of this bridge which neces- {sitated Mr. Porter’s going to | Wash‘ngton to consult with the | engineering after was given and ithe bridge will be constructed ae- | cording to plans. | Mrs, Chas. H. L. Roberts in ‘charge of the May Queen Contest jas chairman of the committee of the Woman’s Club, informed The ' Citizen today that Miss Clara Car- | bonell has been declared queen of the fest'val to be held in the Army , Barracks. Mi Carbonell stood jalone at the close of the contest, {other contestants having with- j drawn from the race from time to time, | —_ | } One of the. prettiest moder jhomes in the city is being !on Ashe street near the corner of Angela street. It will be an at- j tractive frame dwelling ef |vooms and bath upstairs and five ‘rooms and bath on the lower floor. tand equipped w'th every modern {improvement. Merlin Albury, of | Tavernier, is having the house jconstructed for hon i disposed of all his interests .vernier and is moving with ‘family to Key We Key West Chamber of Com- merce has called a mass mecting |to be held in the county court | house. this evening 8 o'clock. The idea is to enter protest against the depart- i i H Vn Tamiami trail, excluding Monroe county. Captain William Kie' ting director of the Ame i ee peratures have fallen in the region, and risen in the Mis: p- pi Valley and throughout most of the Plains States, while elsewhere | changes have been unimportant, with readings above normal throughout the greater part of the | country. ' NNEDY, | al in Charge. four, | THURSDAY, APRIL 30, 13936. ross, arrived this morning tof conduct a swimming campaign te-| |day and tomerrow at Fort a = | firemen and telephone are giving cooperation. A venire of 60 jurers for the next term of United States court © in Key West has been drawn and only six of the venires are Key Westers. They are Pazo Diaz, Eu- gene Albury, jr., Fred Saunders, Williczm McKillip. Sr. Leonard Bethel. Jonathan Cztes. Jr.. Mrs. Rose Cleveland, disbursing deputy clerk for the federal court im the southern district of Florida, @# rived today to get the court ma- chinery in motion. Asked about the appointment of a deputy U.S marshal to take the place - dre Lopez, removed, Mrs. Cle land ‘said she knew nothing about it, “The matter seems somewhat of a mystery” she said. Editorial comment: flies away this summer grandparents now. swat t Registration books close morrow afternoon after that hour no more tions can be made for for the June elections registra- qualizying Two ferries of the Florida East Coast Railway Ferry company ar rived in port last evening heavy shipments of pin which were transferred tc r shipment north. cars zen | Bi FUNERAL HOME Serving Key West Half Century 24 Hour Ambulance Service Emba.mer Phone 135 Night 696-4 STICKS PLANE IN MUD Eng — Whee us Lew lanaed Cr eeieaete @ You put your moncy on a “sure cinc™ when you buy Probak Jr. razor blades. This double-edge blade is a product of the world » 10¢! Buy a package of Probak Jr. sodey. : PROBAK JUNIOR SITTITTTTLS weereeees an, SPECIAL SALE DISCONTINUED COLORS OF SHERWIN (WATER PAINT) COLORS: WHILE THEY LAST— ULAR 60 VALUE. WHLIAMS LAVENDER AND SILVER 5 Lb. Pkg. COLORS: | ORANGE— | Qts. Pts. Y, Pts. FOR ANY ENAMELED SURFACE EXPOSED TO THE SELF-WRINGING MOPS of SN Phone 598 CAFRI BLUE, CINNAMON BROWN wrings dry— EACH 45c ‘ AUTO ENAMEL CLEARANCE SALE. MUST. MAKE ROOM Ft SPOL No the blade. handle complete of garden im- plement-— HOE _ $1.00 wetting hands, Get a White and Eliza Streets “Your hume is worthy of the best” wrrvsrssrrrrsrrart IGS IIILP LIL IOOLILILP IMI III IIIS Ss, WEAT C hhthhh dhidadidaddihdh did ddd dadidadiaduteded