The Key West Citizen Newspaper, August 3, 1936, Page 2

PAGE TWO The Key West Citizen Published Daily Except Sunday By THE CITIZEN PUBLISHING CO., INC. L. ARTMAN, President | Only Daily Newspaper in Key West and Monroe | County Entered at Key West, Florida, as second class matter FIFTY-SIXTH YEAR > Member of the Associated Press «he Associated Press is exclusively entitled to use for republication of all news dispatches credited to it or not otherwise credited in this paper and also the local news published here. SUBSCRIPTION RATES One Year . six Months Three Months . One Month Weekly ADVERTISING RATES Made known on application. SPECIAL NOTICE cards of thanks, resolutions of , ete., will be charged for at a line. nts by churches from which ived are 5 cents a line. n open forum and invites discus- sion of public issues and subjects of local or general interest but it will not publish anonymous communi- cations. All reading not respect, obituary the rate of 10 cent IMPROVEMENTS FOR KEY WEST {DVOCATED BY THE CITIZEN Water and Sewerage. Bridges to complete Road to Main- iacd. "ree Port. Hctels and Aparvments. Bathing Pavilion. Airports—Land and Sea. Seasolidation of County and City Governments. THE KEY WEST CITIZEN WILL always seek the truth and print it without fear and without favor; never be efraid to attack wrong or to applaud right; always fight for progress; never be the or- gan or the mouthpiece of any person, clique, faction or Class; always do its utmost for the public welfare; never tolerate corruption or injustiee; denounce vice and praise virtue; commend good done by individual or organ- ization; tolerant of others’ rights, views and opinions; print only news that will elevate and not contaminate the reader; never com promise with priaciple. Life on the screen is always “reel” It is possible for a person to discharge firearms, and then be discharged him- self. The Democrats believe artificial scareity — except votes. in creating democratic | isolated city-owned electric plants. BOND ISSUES FAIL Taxpaying citizens of Konawa, Okla- homa, recently defeated a proposed bond ! issue of $65,000 to build a city-owned light : and power plant, by a majority of four to! one. Only citizens who paid taxes during | the past twelve months were eligible to} vote. | Citizens opposed to the bond issue | pointed out that in all probability the bond ' issue would increase taxes, and that in al-! most every instance electric rates in towns | served by public service companies ar ‘lower than the rates in towns having | Aidditional towns in Oklahoma that have voted down similar proposals recent- ly include Muskogee, Norman, Eufaula, | Pauls Valley, and Alva. { These towns are profiting by the ex- | perience of hundreds of others which have engaged in the municipal power business, only to discover tnat political management | meant either higher rates or higher taxes or both. There may have been exceptions | here and there, but they have been ex- tremely few in the last ten years, during which residential rates of private com- panies have been reduced an average of 30 per cent. SIDELIGHTS Pat By MARCY B. DARNALL. Former Editor of The Key West Citizen Noting a sign in a printing establish- ment reading: “We require part payment in advance on work for customers we do not know,” the Brewton, Ala., Standard remarks: “We require full payment from some of those we do know.” New Orleans had three different mayors in an hour one day recently. Mayor Walmsley resigned to accept a fed- eral job; Commissioner Pratt became act- ing mayor; he resigned and the commis- sion council then elected Commissioner Came to serve until a special election is held. Sent to a free dental dispensary by a school nurse, Urias Smith, 15-year-old Omaha Negro, boasted that he would not permit his tooth to be filled, but he was wrong. Three dentists and four nurses finally completed the job. A’ statue in Quebec commemorates Louis Herbert as Canada’s first farmer. He left his job as pharmacist in Paris to ‘settle in Canada, where he was the first to Correct this sentence: I have had the office long enough and do not blame the people for giving it to my opponent.” If there is any variety of howl that cannot be secured via the radio, it would be an interesting scientific achievement to record it. Men go to church for various reasons and most of the reasons they give are bet- ter than those we have heard offered by men who do not go. It is unwise to create an artificial de- pletion in the products of the soil in order to increase the price. Let nature take care ot those things; she has done a fair job in the past, and we have good reason to judge the future by past performances. It is one of the outstanding mysteries of life why a man who can keep a_ tank full of gasoline in his automobile finds his church dues an overwhelming burden. There are also other property owners who live well, dress well, and go on vacations, yet find it irksome to pay their taxes. In a recent public Hopkins, Works Progress Administrator, gave vent to this statement: “Privat capital has never in its life spent a dime to build a house for a poor person.” What a palpable untruth! Certainly private capi- tal is not in the habit to build homes for poor persons, but it has given them oppor- tunities to do so through employment, and thousands have taken advantage and bought homes from,the wages received. The Citizen is delighted to state that there are in its employ several co-workers who have erected their own homes from the proceeds of their labor, | address, Harry own a farm, Some 60,000 crippled children have received aid from the Shriners during the last 14 years, each Shriner making an an- nual contribution for the purpose. The or- der now has 12 hospitals in the Pnited States and three in Canada, ° ee Lawyers’ fees amounting to a,total of f approximately $2,400,000 ‘were awarded by the courts to counsel for litigants over the estate of the late Z. Smith Reynolds, heir to the Reynolds tobacco millions. As seems appropriate in a case employing such fancy legal talent, all the claimants won a share of the big fortune. Frank W. Wardwell of Oklahoma City, who has a 21-year record of perfect Rotary club attendance, has sent con- gratulations to a man in Portland, Me., who has not missed a Lions club meeting in 14 years. The Portland man’s name _ is also Frank W. Wardwell. During the recent observance of Rail- road Week, a committee in Walla Walla, Wash., proposed a handear race between| two section crews, but the race could not be staged. No old-fashioned handcar could be found, as only motor cars have been used by section hands for many years. Quintuplet lambs born on the farm of George Harms near Aberdeen, S. D., were named Yvonne, Ytwo, Ythree, Yfour and Yfive. There were two rams and three ewes in the “litter.” which seems quite Ynough, Fand ali displaying interest in the! THE KEY WEST CITIZEN You an Nation’s Testing d Your’ Affairs a New Credit Brake By WALTER E. SPAHR Chairman, Department of Economics, New York University Reserve requirements of the mem- ber banks of the Federal Reserve Sys- tem will be increased 50 per cent on August 15 through action by the Board of Gov- ernors of the system This means that the present reserve requ‘rement: against demand deposits—7, 1. or 13 per cent, according to the locationand size of the bank — will become 10%, 15 and 19% per cent. respectively and that the 3 oer cent reserve against time de- posits will become 4% per cer The purpose of this change, author- ized by the Banking Act of 1935, is to impound or sterilize some of the sur- plus reserves of the member banks so that 3 possible excessive expan- sion of credit may «. t develop or get out of hand There has been much talk of a possible over 2xtension c. credit because of the easy money rates and the huge surplus of reserves held by the member and Federal Re- serve banks. The raising of the re- serve requirements is to check or to arrest such a tendency In any event, if suck an expansion should start, it wil! more quickly reach its limits be- cause it will bump into the legal re- quirements as to minimum reserves <nuch sooner. Now what may we expect in the way of consequences? Apparently no on® can say wit. any great assurance This 1s a new device in the attempts of central banking authorities co con- trol credit. tt is an experiment. Finan- cial writers and other analysts have advanced a variety of conjectures as to possible results, but there appears to be nv important consensus « * opin- jon as to what the ultimate conse- quences probably will be. Although th prices of government securities sagged for a few days, they seem Ww have recoverec their balance, at least temporarily Apparently there is ne reaso., at present why this future in- crease of reserve requirements will have noticeable effect on business conditions. This is merely the :itua- (Address questions to the aut KEY WESTIN , DAYS GONE BY | Happenings Here Just 10 Years Ago Today As Taken From The Files Of The Citizen The Monroe county commnus- sioners neid a special meeung yesverday to discuss a propos.tiou arom the C, A, P. ‘Turner company regaramg the briuges which it 1s proposea to build over the water-' gaps on the road to the mainland. ahere were also a number of tele- grams which were read concerning’ the activities of others who have taken up the matter of securing funds to finance the conscruction of the bridges. The composite re- sults of the letters is very en-' couraging, it was agreed by the coimnessivr crs, esvecixily one from Harry Boyajian which cuntained the copy of a telegrant from W. A, Harriman: “Interested in the proposition when placed in con- crete form, legislative act passed, consent of war department given and referendum vote taken”. There were others of like tenor; idea. A Tidewater Construction Co. truck and Key West Electric com-; pany Bus No. 2 crashed in colli-{ 6 and 7 o’clock this morning. One! of the 16 men on the Tidewater vehicle, G. F. Middleton, sustain- ed a badly crushed forearm and all the rest of the men were either slightly injured or badly shaken, up. It was stated at the offices of | the company that the truck front was badly smashed. Fenders on the bus were broken or bent. No| one was injured on the bus end the! driver was complimented by; Manager B. L. Grooms on_ the! masterly man. in’ which he} handled the equipment. The cool-! ness and good judgment of the! driver, said Manager Grooms, un-} doubtedly prevented a more se-| vious accident. j Editorial comment: Ohio has a] negro candidate for governor.| Now these friends of the colored} race will have opportunity to do} | their stuff and practice what they preach. A. Dice, Alias Lorencio Orte- gas, recently brought back from| New York and being held in jail} charged with double murder, was! given a preliminary hearing this! morning before Justice of The} Peace Rogelio Gomez. The charge! of killing Mbnuel Jimenez was the! charge on which he was arrainged and to this he pleaded not guilty. The judge said he will reserve decision until the other case, in which Dice will be charged with killing his former sweetheart, tion at the time of writing (July 20). | experiment © We are dealing with an and unexpected things may happen. At present member banks have «xe cess reserves of $3,400,000,000. The in- crease in the reserve requirements ; will cut off $1,450,000,000, thus leav- ing an excess of $1.950,000,000 of re- serves on which member banks as a system can build approximately $19,- 500,000,000 of deposits without bor- rowing from their Federal Reserve benks. Should credit expansion eat up the surplus reserves of the member banks, they can borrow from their Reserve banks, or the Board of Gov- | ernors of the Federal Reserve Sys- | tem can lower the requirements again. If this procedure is to be followed, then the juggling of reserve require- ments need not have any significance at all, or it could be used for ,,olitical purposes to frighten people or to placate and encourage them. It proba- bly may be assumed, at least until there is evidence to the contrary, that the political factor will not be a con- trolling consideration. Such a motive would be quickly detected and merci- lessly exposed. Another factor that might enter the | Picture is a possible outward move- ment of gold. In the two years 1934- 1935 the golc stock of the United States increased $6,100,000,000. Of this amount $2,800.000,000 represent the increment derived from devaluating our dollar 41 per cent; $3,300,000. represent gold imported and pur- chased by the government. Thus it is easy to see that a sharp outward movement of the gold which was im- ported could soon exhaust the ap- t-oximately $1,950,000,000 surplus re- serves which will remain after the increase in requirements becomes ef- fective. But there is nothing in view at present which is likely to cause an outward movement of gold. It « ems, therefore, that this new experiment in credit control—this testing of a new brake—need not be disturbing for some time to come. But the trend of events and signals should be watched lest the unexpected over- take us. 1s it not interesting to consider thet one of the excuses for devaluating the dollar was that there was supposed te be a scarcity of gold, and that now it. is supposed that the reserve re- quirements should be increased be- cause there is too much gold? hor, care of this newspaper) Lafe Hawkins, th’ boondoggler, an’ a force uv men is levelin’ Mt. Hope over back of Eden Valley. They’re goin’ to make mole hills out of it. This Agriculture-Industry hook- up they’re all calkin’ about looks t’ me like the best cooperative yit. des Carmancho,, is heard. Attorney T. S. Caro is represent- ing the defendant, and Judge J. F. Busto, is i representi! State } Attorney Arthur Gomez fsion on the county road between! absent from the city. €2.8 4. 7 € at “Key Guard Tomorrow afternoon West baracks the Coast team and the team of the Ame- rican Legion will meet in the first game gf a proposed series. The Coast Guard personnel have appeared in a number of games and have always given a good account. The Legion players are said to be well up in the game, but only a few of them have been seen in action here. However, they will have an opportunity to} display their mettle tomorrow. E. R. Bodine, prisoner in the county jail under a murder | charge, is reported ill. The physi- cian in attendance said today the} prisoner has developed a weak spot in the left lung and is to be} permitted to sit in the sun for a period each day. Bodine is charg-} ed with shooting and killing Ralph C. Morine at Cudjoe’s station on May 29. Announcement of the appoint- ment of John A. Roker as fire marsha] at Sarasota, Fla. was made several days ago “by Chief Maitland Knowles. Roker left Key West some ago for Sarasota, says the Sara- sota Times, and since his arrival there has been a valifable junet to the fire depagtment. appointment, says the! Times, is in recognition of valuable sérvices both as fireman and lav officer. ! | | Cocccccccccsccccescoseses | Temperatures* Highest _.. aces Lowest i [Sieets = {Normal Mean . i Rainfaii™ Yesterday’s Precipitation Normal Precipitatio: 0 Ins. Tomorrow's Almanac Sun rises 5 sets oon rises iat oon seis ..... Tomorrow's Tides A.M. 10:32 : Low — Barometer 8 a. m. today: Sea level, 30.00. WEATH=R FORECAST (Till 8 p. m Key West and Vicinity: ‘cloudy tonight and Tuesday sibly occasional showers Tue: gente to moderate northeast east wind: Florida: Partly cloudy and Tuesday; possibly showers near the south coast Tucs- day and on the extreme southeast coast tonight. ' Jacksonville to Florida Straits Gentle to moderate east winds; partly overcast weath- er tonight and Tuesday with wide ly scattered showers, East Gulf: Moderate to east winds; part y weather tonight and scattered showers over | south! portion. Tuesday) Partly ton scattered northeast ty northeast overcast Tuesday, extreme WEATHER CONDITIONS Pressure is moderately high this morning over the southeast ern portion of the country, Ashe vill C., and Charleston, S. C., 30.18 inches, and another high pressure area has moved in over the northern Rocky Mountain and northern Plains States, Williston, jN. D., 30.28 inches; while a shal jlow trough of low pressure tends from the Lake Super.or re gion southwestward to Arizona ;Sauit Ste. Marie, Mich., inches, and Phoenix, Ariz., 29.76 inches. Light to moderate show- ers have occurred during the last 24 hours throughout much of the Gulf and South Atlantic States, and there has been rain in por- tions of the Rocky Mountain States and eastward over South Dakota to the Lake Superior region, be- ing moderately heavy in eastern Colorado. Cooler weather pre- i's in the northern Plains and eastern Rocky Mountain States; while elsewhere temperature changes have been generally un important, with seasonable read ings in most sections. ex pa , Sale Price i LIPLLPLLILLAL LL 2a Each Wood Tub. Has a large H foods hot or cold | Phone’598 “Your home is worthy of the best” bh hid hed biked hebededed LL / 2 SPECIAL SALE FOLDING YACHT CHAIRS: BACKS ARE MADE OF DOUBLED Regular Price . ADJUSTABLE RECLINING CHAIRS: THING FOR THE BEACH OR PORCH ICE CREAM FREEZERS: “Snow Bird”, Green Enameled Will Not Rust 4Qt... . $4.75 6Qt.... 6.75 1 GAL. FOOD JUG mouth. Each . . . $1.75 South Florida Contracting & Engineering Co. YOUR DESTINY BY LE MARS A 1936 Reading to The Citizen Beaders by Specull Ae rangements for « Limited Time only TEN CENTS Com and Stamp. THE KEY WEST CITIZEN, KEY WEST, FLA Name - Address City and State Date of Birth Write Plam—Enaciosimg 10c Com and Sams Key West and Miami NOW MAKING DELIVERIES AT KEY WEST Oe TUESDAY, WEDNESDAY. FRIDAY AND SATURDAY MORNINGS WE FURNISH PICK-UP AND DELIVERY SERVICE OFFICE: 813 CAROLINE STREET TELEPHONES 68 AND S2 SEBEL IS LA DL DL SDB, ANNOUNCEMENT TO VETERANS We checks issued it charge to that you be will be pleased pay@ he veter. properly ide that we are paying the fu Legion = Your Americar your best means ef identificat The First National Bank ot Key West Member of the Federal Deposit insurance Corporation ,LiiwtALALiitAAAAAAsss OTT IIIIIII III LS IL. 5 3 7 \ ) % ) N) N) » 7 4 \ \ \ NI N % * \ “ ® \) \ \) ® ® ; \ 3 WITH ARM RESTS. 55 CANVAS WIT 3 FOLDING $2.10 THERMOS BOTTLES: Guaranteed Cold 72 Hour Quart . . $1.75 Pint 1.00 Ye GAL THERMOS but ha \ Keeps Small Faucet Each . . . $1.05 White and Eliza Streets eee eed Li drititstinitrtt~~itizittittttittnia