New Britain Herald Newspaper, October 29, 1929, Page 1

= § ;ffifi SAVED, EIGHT DEAD AS ~ SRUNDE TESTIRS (oot RER IR STRATO, 5370[}5( MARKET AGAIN TOBOGGANS T0 b GREAT LAKES BOAT SINKs: | MESTERVSTATS S =T TR ,‘ . | B iEneyyis, 0es) RECORD LOW LEVELS WHEN FRENZIED . CARDS BRAVE BEAVY SEA s - ey TRADERS SELL OUT—RALLY FOLLOWS !'i Oflicer.ssticl.(tOSteam-;FEAR P[ANE H]ST | Grorgs Rule Sanitarium Farly Today = - o flj“—‘” KS A[;'HHV Extremer Declmes Hit i Founders iy M IVE ABOARD 5 v s[5 B | A1 70 Pe Share 8378, of Persons Saved Un- conscious From Ex- posure in Open Boats. @ range Pe(mg Tlns Week ‘GO]NG TO ALBUQU‘ER(’L“‘ s 0 Honor Burton—Committee | ALY Smith, Atheists Society and ] eSS cmbers Exhibit Shortness of Even Members and Board of | T TAN FF 1* Shi ~ ‘ TOSUDYS LEYOER ] Shlps Answer S O Buti\\‘<->m-.| Air Line Carvied Two Ya Temper in Dealing With Elderly e John Toach Stratén.| Trustees of Pastorate—Debated | Find Themsel‘~es Baffled| sengers and Crew of Three—Last Dean of Washington Corps, fundamentalist Baptist ciergyman.| Immorality of Stage, Also, Io1lea 00t Proveri T aui A | | ; . | {who had figured in many spiri ; | 1 € ’ ~ . | Seen Over Arizona Yesterday| Washinglon, Oct. 29 (®—Joseph church tles, died early today N. Y., Oct. 29 (P) S B y i P | 2 S LS Ch O 3 f al Rental of S1500—AL. Judd by Waves—Captain and| ™ | R, Grundg, president of the Tenn: | canianium a Cotian masiny S e mal Tienta . 3 1§25 O50 082 sylvania Manufacturers' association) of 4 heart attack. t G et Not Opposed o Project Bu Radio Operator Stuck 0l . Angeles, Ot 25 (D) As |0} ihie breathiof tho 1obby com | s ’ ’ ¥ Q the 24th hour passed to Sith noi| e elodyihien ok i at - B Wants Thorough Analysi Posts—Second Boat Also he thought the smaller western 54 years old ; |word from a Western Air Expre ates had too much voice in the| ouse q on o ¢ - N Liner lost near the New Mexico-Ari- | senate on tariff legislation, S ol I acd A Has Trouble. {zona border line, fear was expressed | Sharply questioned by the senate B die 2 h subscriptio T D et et e o 3 month, death came unexpectedly at | ( : [ fioee ibhab fghe bad daide ot e i dun it he States contribul- a. m. after a heart attack. His! il be d Kenosha, Wis., Oct. Je- | southwest might hold the secret to [ing negligible amounts in federal oy NAS et s | 1 ! tween 10 and 15 men went down |another great air tragedy. | taxes “and with nu)vh!]n in the died. | . came” could help break down a e y . ‘| vith the lake steam o in | The plane from Los Angeles with £2me” could U l G B U He suffercd sligh Y B 20 lake stoames Wisconan | | L Em e {Unolficial Group to Brin L siight pars ; : a severe storm o e Kenosha |its two pa gers and a crew of : { s 1 or of t llssR s hasaens kT Answers Walsh Candidly | Th E ter went to a sanitarinm at Af-| DUMONT « STHECOPNY R ental Too shore early today. |three was last secn yesterday morn-| gonator Walsh, democrat, Mon- | llD]eC IS YEHl'l lanta, Ga., for a rest. He returned | pide 1ust) LayERental gl More than three score were saved, {ing as it flew over Adamana, Ariz, | tana, wanted Lo know how Grundy | SATR |to his home a month ago, but soon| 1y 1. 7 [ Hall is n to < 1 “g, - ran | o 7 7 many of them maddened and some | 160 miles west of Albuquerque, its | proposcd to silence “Senator Boran | | suffered from rvous breakdown | officer for t g cou near death from the horror and the | destination. e for instance,t on the BIG SUMMONS ~ MEETING|ana entered the sanitarium her | Auburn of s of the board xposure of hours in the windj The region in which the plane tariff bill and the witncss said “pro- | New York Pastor ndent of he propos a on of the A cahone et sengeps | Presumably was forced down is the briety” should dictate = | was pastor of Calvary B xp e : . D e oot Irce PASSENZETS | sume in which the search for the T.| Examined by R ROl e s [ewliors S\WilT Toar, Reporleirrom New York but by his a e ip aboard were rescued. T e publican, Idaho, Grundy persisted | SR s Rt : s Captain Dougal Morrison, bound | o S0 oa thres months ago. thagihie stood Lyithe xepublican platc il o final Gircus) Gommittecstant| i aria espec evolution, he | cil last week by to his duty and true to the tradition | ™y ORI (R GORED SO rorm to give agriculture an equality A e | bl ihaunaies of the sea, remained aboard his ship f 1o "acaq " vvas found wrecked on | With Industry but he disagreed with| Distuss Meeting Obligations e R L S having been m to the last and went down with ufi i e g e in New | the Idahoan that it would be neces- | e BB o % G e |the side of Mount Taylor in New ar ) Csn vaign he took active part i« acore of shipmates. His body was |y o = o SO LR ed | sary to cut down some industrial| curred By Outdoor Carnival, S i Sl e e vicked up Mter by coast guard |y oy AT & s T o D O M one B e mmany iatiers lich S him from his pul- | as (ATEY 5 YR P l“ “’,‘? "”:’"':‘,”’1;“' ,,,,:f\‘] Sl Y. M. T. A. & B. society will | pit ainst him in o Engineer Stark Mad 2 anc: L ed NS G e A to- {1 Donlan, who holds Tl . as Buchmann | Albuquerque, N. M., Oct. 29 (P— | ifr cases for ich he had | 158 summons m t he Chlef Brngincer Judas Buchmann [ phdderdue. = a Dren the| R iioranes G WHIGH e Ban i Advisability o Clashed with Moderns tract and uses it for of Manitowoe, Wis. clung to a life | Winter, coming down o worked but denied he had sought A o ; o : o raft as the steamer up-ended, rolled | MOuntains which form the back- tarift decre: onipiéial imate- | (32 Soelety TOWEOn AAIE alrck I iton was a militant funda- § S e S B AT bone of the continental divide, today | i 1s say; “I don't play both end. he society is in finar 5 mental in recent had | : ! 1dd, re- SYst BAC sank o s : ncealed bencath a blanket of 10w- | ar {ne o its because of 1 mort clashed repeat with proponcnts an the commo haul him from the water but, crazed | con Setn el “” e e it ilding. The Savir of modernistic teachings. He es-| iy Bandifs ; ainville Car 1 ctio ii by his plight he fought them. off | ering storm clouds and snow the fate | Wool was the on scheduls A, i modernistic toachings Two Bandits Rob Pl (a1 L el obient s biafnlie | of a Western Air express liner, ost |in which Grundy said he had inter- Britain hold pecially was opposed to the theory | 1 W0 DS ROD e e Ha & # 5 7 2 i e srsons aboard d himself. of evolution and lent support ST g 4 tak 10 offic ) Tour hours after the Wisconsin | With five persons a i ; : el L anc : t Q StablishTa. zolf course and 1ne 5 went down there were eight kno\\rl‘ The giant tri-motored plane, with ieanwhile the resolution of cen- o the Williz Jenni an | { Leb mvsmb the bility 1 ) dead, while 65 had been accounted | two passengers and a crew of three, | sure, dirccted toward Senator Hiram t mov opes trial at Day BRI NG for. Seven of the dead had hecn |disappeared yesterday somewhere|Bingham o onneatiot connec- | R, on, 1925 1. m P IS 0P S £ the [tion with son incident, is o« cns alleg entinta T aag e | along the 180-mile stretch of th ith 2 ; : ) OTO“ ,I I U U FIGHT Capt. Dougal Morrison, Chicago. | Western Air Express route between | Which Senator .\nn‘l( sm)]n\u n\v(v-l i\r T m]wv ¥ on u‘\‘ d back et = i e srque. It | present in sena a de-| T i 8ito when he « sy i e Chief Engineer-Judas Buschmana | Navajo, Ariz, and Albuquerqu | present It e e e T B vk : Manitowoe, Wis | is believed to have becn forced down |1aved through the action of th members acting unofficially. They | Pate With William A. Brady, Broad-|, ) pavier Knocks Gun from 5 i = Vioto i Gl e [hv et tieh \t the | Ate in adjourning until tomorrow 1‘“ pembers et led upen to givy | WAy theatrical producer, on a. reso- : . ! (Walter Byexjacciciann [sste Bontig stmee Tl Sl s SR | their opinion by President Williany |13tion that the modern st e Masked Man's Hand but Is Over- motfon of the third s el oz S E o | Burton, v. ed last night. . i S menace to public morals. ¢ & 1t 1. B. A. Cassegas, Chicago. ing snow and rain which caused the | e rasen : e Dandlis ot " the council voted Joe, third oolt & | Western Air Express to order all| Borah Leads Inquiry f: Otna i aiters which i UlD n | posed 1dy of Dar powered—Bandits - Get - Company Sreltoe D) “0ld" Joe, deck hand. | planes grounded. The order came| At the outset the questioning of |, ¢/ t1on are reports from the bonds | teach RublicisenoolSiand@l o ps o A Ter finar or consideratior — litos T eTtoliait the i soln et n ancvar | fhe earSoldinresident S ofiithe (L oec o e e denounced Ku Klux Klan doct e Tenoshal Wit oot | which it left yester- | Pennsylvania Manufacturers' asso- | (10 ©00 s new soda Dr. Straton constantly was in con- o ) the He . "--"'” Pledged all but half a dozen p | m. mountain tim wiiion k) W 6L T Sddiv O T soeiety and the | ; - D' —Jolin Fraw {0 o8 DU S . £ crew of §0rescued, the steamer | Seen Over Navajo | Bo: republican, Idaho, '-\)lo had {51 4 ommunion breakf: = (Continuzd on a) Sk ‘\ cit Wisconsin sank off Kenosha early | Due in Albuquerque at noon, the much to do with TIlnE pte e i cling an open Touse — cial san " common today in a storm that caused dam- | ship last sighted over Navajo | pul luun\ .1'!';;;"”“' at th e, council enting the municipal age all along Lake Michigan shares | at 10 m Pinto, Ariz, a few | Cily convention. | Aferestin b aom k . governi A il of approxi- | for the second time in a weck. | miles east of Navajo. a Santa Fe rail-| “T take it Yourilnteresy r‘:-l tl' - serv : : e was drivin 1 o'elock | 14 el ’ The officers of the Wisconsth's | road inspector said he heard a plane [ing to Washing :}..\ ‘“.\Iq paSthe .’; yl,lmr lsoeh Plainville-New Britain trolley to- | suranc erew stuck to the craft until it sank | in the clouds at 11 a. m. but could |tarift bill?” Bor el el Dud i adenancatating| Cii e and were taken from life rafts by |not see it | “In the interest of ot e e o rescue boats, a dozen of which | THe plane was bound from A]h;“‘h‘(;u‘\uh]l\ an platform,” replicd Grun- | is SRR T o i 1 rushed to the steamer after the bra, a suburb of Los Angeles, to |dy el A e e niteres d to be presnt D 0} 4 Kenosha life guard had taken off | Kansas Cits fatae o e e ‘I lane l'alls and Burn 8- hole most of the crew. One man was re- | Those aboard were: |the enforcement plan of that plat-| I ! BXommRsnon O - ibdol mittal today when asked w | e o ported to have fallen overboard as| r A, W. Ward, San Francisco, | form? 3 ok e Ep A A S Near Mount Vernon, i : the rescue was in progress, and five [ nationally known dental authority, | "I have been interested in nittee would be. He indicated tha Ohi Was exy ed i en route to Fort Worth, Tex., to fill | platform.” .| the society will discuss how to meet | 10 opography of (Continued on Page Two) | a speaking engagement Unden Surther S questioning Ly {4 obligations brought about by the 1 naturally to —— W.'E. Merz, Mount Vernon, N. Y., | Borah, the witness said he was inter- | o | e cro ¢ i Nohiding en route to his home. | ested in the farmers as well as the [SERS, W 0 otings one| Mount Vernon, Ohio, Oct, 20 (P trolley and : : A HUFFMAN ESTATE James E. Doles, Los Angeles, chief | manufacturers. ! | night a month instead of the second | I. M. Kane, pilot of the southbound in ti i ! Rt ) M i || _“Were you interested in the wool- | | 550 /e, ve et be suggest- | Cleveland-Louiaville mail plane of | he ou litic lgcs wer i Allan C. Barric, Burbank, Cal., co. | €n sehedules of the tarifi bill” con- »d. Aftor these night meetings a|the Universal Iine, was burned to]e 1 giv [S VAL”EI] AT 24 572 | pilot |[{enl | social will be helc h carly today when his plane | motorman 1 a Judd Opposed 0 Course ) R. L. Britton, TLos Angeles, for-| es. ) e rashed into a grove of tr on a As ¢ T G e e e ] Who did you take it up with?” | f ht miles southwest of Mount | down, wl | f s With your coll e for one—| Vernon. remon municip e Officials of the company expri ) | ik 5 3 Qg g y 5 S e LS Sl Senator Thomas (republican, Tdaho). Kane apparently had lost his way |as he other man, ma 1 E Appraisers Submit Inven I‘,;i hu(i-p: ('};.'”\!"?\"‘y:)l‘i'.?131.\1?3.1;‘m‘ I tried to see you, but couldn’t.” | in a dense fog, farmers living where |and carryin gun, climbed onto | clal phases of . | w5 #fia Mavalo Indian cos “Were you interested in other IN HAR[]WARE FA[;T R the ship crashec ooy lrat | the vemiole S e ‘s eas f B cre he was ii Wi 0 1ke tory TOda} in Probate K;""(" b Lm]”‘/, Ifm,”:,f‘.h r{m.}::,d“ (l; sch dules.” | heard the ship, seemingly flying in {kerchief over his vl k Court RS s S S the| “Yes the metal gehedule. | circles, about 5:40 a. m. The drone | Motorman Battles Bandits F Arizona-New! Mexico boundary. Grundy named the carpet and lace | of the plane’s motors suddaenly ceas- | wit 1e possibility of los- | & = SR ORI % S e o, | o H 3 g S | ¢ « fe i oS I night's Cipts, Fr 5 they said, they helieved Doles could | Schedule : 1 von taxe | President Kimball Says LR iy ) cents i T ) g “Wha s s did ake | a blaze in a patch of ds or Is umpe f i ) he estate of John A. Hoffman of | gin 4 e h at farm items did y | 1 ¥ . a blaze in a patch of woods o | ] ; bourd of finance for !h:‘mlv who died several months :,‘f,']:“.:““”” v 1anding | on asked Borah, | Gains Are Not | farma of Elmer Higgins | gU he m : Seationad e 24, s - | When they hed the scene, thed « nd o h . ago is valued at $24, accord- Search Ts Begunt e el Ay ’ S e ! : Uallal cours, ing to the inventory which was ad-| Dagpite hopes of officials that the (Continued on Page Two) Extraordinary ‘,.:“,_. t 1 they o lowo pushed him mitted to probate court by Judge|plane was safe on some isolated — — i figoe "I’h"m_“] e o R0 R oL Bernard F. Gaffney. plateau with one of the piiots or the | . by, W ek 2 L A y Jie b The estate includes considerable iy : f f it End | Profits to stockholders of New|heat subsided. Most of the mail |money belt which contal p onv’rwtg B s iar dhTe | e NG M “‘L”, m)m;;m of || Alienation Suit Ends Britain factories have not been ex-|yhich Kane carried was destroyed of Nis ¢ T Y, cash, fa B 4- | communication to notify headquar- . z ‘ cding to George T | mhe Yemaindes B S Rt e chinery, live stock and also stocks | toe planes were prepared today to|| AS One Defendant Dies | | traordinar ording to Sy | The remainder was taken to Mount out of ni : : Sl 5 ok, )n account of the death of the || Kimball, president of the Ameri Vernon and forwarded to its destina The hol in industrics. The appraisers were | gaa 'l the rough torrifory thorough- On account of the death of the f | Ki Bel e e fiver e el George A. Quigley, Aaron Danielson | 1." Ronorts indicated that it had || husband of Mrs I\Iu’ry Mascola ‘I‘Iur« e cenpamtlon g en et o N AT e )] . administra- e 5 Boston, Mass, her action [|dress to the g X Kane, a veteran pilot, only recent- | ward w and Charles Luce. The administra- yoan whitened by the first snow of Ok Nt Mr. and Mrs. || McGraw-Hill publications 1ourinz | 1y Joinad tho northern divisian ot (he |1 Aendena CANDY EXECU ”\I " DEAD tor are Severin Johnson and Clifton | u against his parents, Mr. and Mrs. | | McGra : 7 1. r;< \-ol ort. ij Rn e i ] : Andrew Mascola of this city for ||New England, at a dinner at the} "yiversal Lines, and his home ad-|shouted to {he den Boston, Oct (UP)—Harry e T S Cory Pes e iiainen Sas| LThgralr Muntls '”_""“r,"""“fi"f alienation of his affections, was | [Shuttle Meadow club which was| g i & s o 6 it aRda & i partiofithe tetlone ngwnich i e e e superior court [|tendercd to the visiting editors by | of the line here, men shot a bullet into the grour ug comy diedliat his ik S , ol | tansconsnan AN tanep oLy LD [ e The suit was brought al- | |the Chamber of Commerce today. | e e home 1 ’ bis: tavd ! Cash . (:mnwrt’l‘all ”‘;-‘s‘ rr(o” Coele CR b el s | e e S e | it it v i i T (Coutinuca on Page Two) ter seve ronths' illnes 33.26; City National bank, $26.66. | racked, its five passengers and : 3 e |l »s ahead of | HILD STRU K BY TR CK i ! ed f lizz ok & Ireedman of Hartford repre- |!more than 10 minutes ahead o Sl Tteceived from estate of Llizabeth | three crew members dead, on the sented the plaintiff, and Judge ||their schedule this morning, con- | li== Property on East street, $6.100. | co with indications that it had run ({ 3 e i co. They were | ! ; 2 A § gication cfendants. ,.1 and state police. They 30 ) e 7 Tots Nax. 32 85, 54, 35 36 an | S0 i o al and siale police.| Ther wors| ik am ,er Killed, Secon mg, When ”1"" ‘;“‘:" ASe dhiy Betiow BHE “ welory district, under the cscort of | Dorothy White, 9, Names Hugh | o ain, $200. & Ralph H. Benson, secretary of the Lots on Lenox avenue, Beverly = s R S 5 Coyle and Guif Refining Co, e n l arge l!‘e avenue, Florenc. street and Dres- P E m t P L t T b t e e ichait i Shuttle o | . | | They reached the Sh R Tk ; den street, $1,120. [ITISOR Inmates ay as ribuce [dow club shortly after 1% o'clock | Defendants in Claim. < ot L () Sron woult of Property on Deverly avenu, St T W d S o n Funeral Toda |and luncheon was served. Tardon| porothy White, 8, fias hrought : S s to it by &} Clainagonue ar ol renden tt y C. Rickey, president of the Chams-!<uit for $10.000 ¢ Hugh Coyle | it by a b i {1 Rocky Hill property is valued at 0 araen ¢ 11‘,\, ot Comst , presided at the| ot Seneca streot s ity o “,n“, P $25 and the Newington property !meeting which followed. i a r run orking on a painte hich held the platfo $1,050. Wet % o nalof ANt ion ¢ -| Mr. Kimball was the first speak-|down by an automobile driven by " | ’ o to. ti o o . o ethersfield, Oct. 29 (A—The 550 |only source of information concern-| Mr . ; 3 : s G e AR SRR G e e R e s e e e e e L in inofemploy for el £ e S CE B T s {ii Ibtndtinaa famiiEacle Snd machinery ol s o Wt Een e ot i e e jnE addiess 1o the guests. concern, on Sanlcy sirvet. on Nov. | Drids o ey F0L Two sutomorles, & Antck BUA Iy ve 256 the Tioart and Lend (i lthoueh prisons, the prisoners,’ Referring to the fact that with|s, 1928 he action is bl ,, Abot volts ran through 2 \eranare DTl Al A Tn Ol (e e e aninlaye IR onN ol et Their warden nowers mhreiase Al e exception of one texille plant | through the childs mofl Lk L s i b andfcashiinithe isavings Banisiot | o paid their last respects to!with the proceeds of labor in the |New Britain's industries were allied | Maria Wh R Wl M e hrough the iron work of t} e New Britain, Dime Savings Bank of [}(RERT PUA U vico in the prison shirt factory. His death,|with the hardware industry, Mr.|gan repr her and_Constable | Mic i W0 Hudson stepped on the | Hartford and the Society for Savings | | iion” ehapel {oday | news o which also came by | - |1 . Cly rved the wrif, which |2 pain e T L e of Hartford total $50.99. Six inmates who had won the {vine” to them, w a great | (Continued on Page Two) | I8 refurnable in the superior court rabbed hold of the bridge to sup- Stock holdings were as follows. i ust and confi- [to the prisoners as to the outside | SN irst Tuesday in D e R % warden's special trust and cof T fithe o i L 100 units of Bank urity Trust. | jance in the 10 years of quiet and |world. | — ——— e S LY S Sl bridge went through their $3 1 share Holland Far East|popular administration of the pris-| Today their thoughtfulness was| N | from the east to the west side when % ) e Tea Co., no value; 1 share Green |op'g affairs, carried his casket into|again in evidence, for a blanket of THE WEATHER :1 \':.'w‘ tr 5 upon the Brothers Co., no value. [the chapel, where at other times| violets and greens, toward which | e Aoy ey L AL mtd e Subscription to 25 shares Cities |they have worshipped or sat ab-|they had contributed, lay over the I New 1',: in and vicin| x_:‘. ‘i ‘m ”‘1' sandihes CEivihE iren s shocks, the two Service Co., (present equity $4,863.- |sorbed in a motion picture or other | warden's casket. The b nket was lmnlyv and (-;mllnu;:: t“’;‘l' ‘”E‘;V‘I\VI Sron verely injured by t . ) form of entertainment. |the “prison floral piece” to tho. |<»_|1::ml by rain tonight an e Ga e SR R e e B e Miscellaneons holdings included Hear" News by “Grapevine” e | Wednesday. she will hz B i trord i s e #everal notes, ete., totaling $525. During his long illness, when their (Continued on Page Two), lvr - AL IN E Bingham Cencure 24 Hours Passes th No Word| From Air Express Resolution Post- pon 1s Senate Takes Day's Re- OVER PERIOD OF YEARS Chureh BY FINANGE BOARD Hall Trying fo Ar- Leader of Calvary Baptist H hairman in New York I'ought Darwinism | Ln!)u\‘c the eye, it is al 000 Sales in First Two Hours — Bankers Cut Margin Requirements in Futile Gesture. . S. Steel, American Tele- phone, General Electric, U General Motors and Other Leaders Break From $15 to $35—One Broker Fails. Oct. 29 (A — Stock s 1 sharply upward iortly 1:30 p. m. this after- noon after a steady stream of li- quida early trading had ¢ ices of active issues down 31 0 a sha U. 8. Steel com- ! rallicd from $171 to $186, 1 Electric from $214 to $244 1 Ameri Car from $115 to ®) — Witl effort to as- market, stock continued to break sharply under a crushing weight of ion pouring into the New urities markets from all f the world. declines in hundreds of d on the New York stock ges ranged from re, with most of ground for the Iy ly xtreme Jis low reached record-breaking ions, the 5,000,000 share being crossed before the end > second hour. following table z lephoned from t losse tha the leading issue: Steel 31 ropor rk shows the ices, the 12:30 p. m, prices 1 the floor, and t time, of some $171.00 $15.00 $17.00 $10.7 $215. 3 G4, 00 00 50 00 00 3 00 00 130.00 00 68.00 $ 56.00 s in Conference W York bankers, who conference at the office an & Co. last evening, stood aside until this uidation had been 1d then placed suffi- nt supporting orders to assure an t. Prices rallied brisk- opening deluge of well- in reflection of vousness created by the fail- of a New York curb exchange T which was not engaged, how- eneral commission busi- the head of the firm for personal Hund ds of issues broke into new low f the year, current quota v case Anging from 2 of the year’s high Opening quotations of . §. Steel Common, American Telephone, d Oil of New J - Ameri- n. Westinghouse and other lers fail to hold in the second wave of selling which swept over the mar in the late forenoon, Total sales in the first half hour 9,800 shares, a record. Margin Rates Cat rent effort to rt avert ontinued o Page Two) BROOKHART GLOOMY OVER STOCK DECLINE Predicts That Banks Will | Fail if Slump Continues 1 el on, Oct. 29 (A—Senator epublican, Towa, pre- ShEsey that if the severe de- n Wall street stock price continued, “banks all o o coun- would go into b btey. | The Iov who has bills pending proposing radical revision of the fed- ral reserve law a bition of loans by banks for speculative pur- poses, said a Jarge perceutage of money advanced to brokers came from banks outside New York, who lose tremendous amounts of ¢ if prices for stocks continued to go down He added that what he described as the “panic in Wall street” might lead to eral business panic” of v con present pceele q situation. he id, actment of a bili The wo by Senator ¢ mocrat, Virginia, to tax stoc 1d a resolution by Senator K democrat, Utah, proposing a sweeping investigation ‘oi the whole financial situation,