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Mason City Globe-Gazette (Newspaper) - May 20, 1929, Mason City, Iowa North Iowas DAILY PAPER Edited for the Home AND MASON CITY VOL XXXV ETVB CENTS PER COPT ASSOCIATE PRESS LEASED REPORT MASON CITY J9wAv HOME EDITION 20 1929 400 DNITBD PRESS AND INTERNATIONAL NEWS SUPPLEMENTAL SERVICE NO 191 L U S COURT RULIiiAiNST OLD VALUATION Decision in Historic Case Applauded in Wall Street I WASHINGTON May 20 j Ths St Louis and OFallon railroad i succeeded la tlte SUpieme court W day in upsetting the valuation which the government had placed upon it for ratemaking and other regulatory purposes Justice Mc Reynolds who readthe opinion as serted that the law required the commissiontogive consideration to reproduction values and that this mandate of congress must be en The methods used by the inter state commerce commission in valuI ing the nine mile long St Louis 1 and OFallonwere condemned by the court which reversed the de1 cislou of the lower court The bitter cpntroversy waged for years over the valuations placed by the interstate commerce com mission on railway property for rate makingpurposeswas ended in tie highest court in a substantial I defeat for the commerce commis sion Overruled Valuations pdjng trie controversy the fMjc oouftt vJttWrturned the used by the commission for rate other purposeswhich are approximately eleven billion dollars lessthanclaimed by ttie railroads Under it the commission must scrap its valuations of years conductedatgreat expense to the government and proper new valua tions giving consideration to re production values The opinion will according to the government result in a rapid upward revision of rates altho counsel for the railroads during ar gument of the case emphatically denied that it necessarily would re sult in higher tariffs They asserted that the railroads would be con trolled by what the traffic could bear Cost of reproduction at prevail ing prices was accepted by the court as an element in railroad valuations It stated that such cost M was an important item to be given consideration in determining valua tions Justices Holmes Brandeis and Stone dissented from the ma jority opinion Pleases Wall Street NEW YORK May 20 nouncement of the supreme courts decision ia the St Louis and O Fallon case was heralded in Wall Street today as an extraordinary bullish development of profound Importance in the financial history of the American railroads Stocks of dozens of roads were quickly bid up about to 15 a share on the New York stock exchange and for a time practically no transactions save those in the rails appeared on the ticker tape It takes a lot of nerve to brag on the brains of a country where thousands are in want and fruit rots for want of a Times AUNT HEX By Robert Quillen I was goin to the show Jast night but Pa wanted to write his last will an tusta mcnt and I had to show him how I wanted it fixed NVENTION Loses QEWlon Railway Rate Case Another Circuit State SPEAKERS AT CONVENTION VWHlis GC Biijjiejvwbo will be presented by North Iowa us a ciiudluate for president of the Iowa State Bankers association at the Juno convention Ray Nycmaster Davenport president of the Iowa Bankers association who addressed the group S bankers Monday after noon S K Torgesoa Jolco ranker was Worth countys spokesman in the lower house of the legis littctrc this term Ho addressed the convention on new bank leg islation tHarrimill Albert Nyemaster Warner andAndrew Two Great Anniversaries for Lindy Hereafter Tuesday Is SecpncrAnniversaryof His pyingAcross Atlantic to Paris but Looming Even Larger in His Life Now is Marriage to Anne Borrow the Brilliant We of a New Partnership on ram gathering of tankers in sou Monday startedt the rfccoud series of group meetings under the general direction of the Iowa State Bankers association convention here Is over Monday night officers of the state body and other officials will Jeave on tlis special for another swing around a circle which will in cludethe north and west sections of the Lake City Next The special train was being as sembled Monday for its run which i will start over the Great Western rail at i oclock Tues day i morning for City where the nexi group session wli j be held The chief f i speaker at I gathering will be I Gov John Hammill At Denison on Wednesday Senator W S Baird of L7AT Council Bluffs chairman of the Ways and Means committee of the senate will talk to the bankers and CKief Justice E G Albert of the state supreme court will address them on Thursday at Jefferson The trip wound up keejFriday At of meetings the bank ers will be ad dressed by L A Andrew s t ate superintendent of banking Ray Nye rnaster1 Davenport rank Warnerpresident of the Iowa Bankers association and Stci retary Frank Warner of Des Molries Bagiey on Special The party also Includes Willis G C Bagiey president of the First National bank of Maspn City mem ber of the executive council of the American Bankers association and supported by bankers thruoufthe state as tho successorto Mr Nye master The train includes bankers from Chicago Burlington Cedar Rapids Davenport Des Moines Sioux City and Waterloo One sieeperarrriyed Monday morning with a number of Chicago bankers ahd another from Des Mpines This weeks schedule willcom plete the series of li meetings of groups thruout the state the other series being held the week before last Discuss legislation Much of the discussion at these meetings is taken up with the new bank legislation Mr Andrew has described the new law as onehalf ifor and onehalf restrictive of the banksaffected j The bill will by some restrictions t make impossible or at least mini mize the possibilities of the reoc TUBN TO PAGE 8 COLUMN 4 LINDBERGH MAY2O 1927 PALMETER AND BAGLEY GREET GROUP MEETING Minneapolis Financier to Give Main Address NEARLY 400 bankers from the nine counties comprising group No 3 of the state association gath ered at the Hanford Monday after noon for their annual consideration of banking problems The session opened at 2 oclock with Walter T Robinson Citizens National bank Hampton chairman of the group presiding Following the singing of America the bank ers listened to an address of wel come by Charles C Palmeter cashier the Cerro Gordo State bank Clear Lake president of the erro Gordo county associations ho referred to the visiting bankers s friends ana prominent citizens f Iowa Importance Growing In making his response H M Valleser vice president of the Se urity Trust and Saving bank Charles City declared the import nee of the group meeting is grow ng with the years He paid a tribute o C H McNider who he said had jeen a dynamic force for good bank In Introducing Willis G C Bag ey Mason City the chairmn ex pressed the that the next year would see1 the local banker ttm successor of Ray Nyemaster aa president of the Iowa State Bankers HasXmay changed Picture on left nas taken in New York the uy lieforc lie flew to Paris Flight was on Slav 21 1937 Rizht re cent 2 Killed FARMER2 Planes in AGREE TO SLICEHurt in RiotDAUGTHER SON t 1 i IN GERMAN DEBT Hoover and Aids Confer on Possibility of Sanction in Ball Park ing Reduction BULLETIN WASHINGTON FOUND MURDERED i Robbers Beat Minnesota Trio and Carry Off Safe From House Flyers Will Be Able to Recognize Manly MANLY May Manly Lumber company has marked the town for identification with air travelers by painting MANLY on I the roof of one of its buildings The letters are 30 feet wide and 24 feet high Tho sign is yellow on black background Airmen who have seer it snv it is one of the best to be found anywhere Will Rogers TOLEDO Ohio May Helen Wills we saw your pic ture in that court dress Gtt back tennis ro quick It like the Statue of Liberty with an ostrich fail instead of a lantern Let the qupen coma to see you I got the wrong outfit b road casting the Kentucky derby The an n o u n c e r was seeing his fust race He knew WILL ROGERS horses like Iknow Homer and Shakespeare Collitetti wing ridden by Jockey NSishpur Exterminator second No they are putting the floral wreath on Larkspur a niece ofMan of War We will now take you back to thestudio where Texas Guinan will recite Black Bess WILL ROGKUS i Stimson iiaVl today tho general feeling of govern ment officials and congressional leaders conferred with President Hoover over a revi sion of Gorman reparation pay ments to the United1 States was that if other allied nations ac ccpted smaller percentage payments this country could not Io less May 20 A NEW YORK May 20 j teen persons were in hospitals today recovering from injuries suf fered in a stampede of blfeacher fans ftt the Yankee stadium in Iwhich a j college girl and a teamster were killed Eleanor Price 17 years old ann May 20 a student at Hunter college and A hammer with whirh rniim Joseph Carter GO years old were killed Morethan injured The stampede occurred yesterday when ftOOQ fans rushed from the south bleachers to escape aheavv rain which stopped the first game of a double header between the Yankees and the Boston Red Sox Rain Starts Stampede When a slight drizzle suddenly turned into a deluge in the Yankees suggestion States may be that the United lied upon to make some financial concessipn in the ef fort to bring about a solution of the tangled German reparations prob lem is seen by some observers in President Hoovers Sunday evening conference with congressional lead ers The meeting which began shortly I after the presidents return from his weekend visit to Us Virginia fish Ing preserve was officially de scribed as intend id to give him aii opportunity to acquaint the con gressional leaders with the pur pose of the experts committee on reparations which has been meeting in Paris The participants included Secre taries Stimson and Mellon Chair man Borah of the senate foreign re lations committee Senator Watson of Indiana the republican leader Chairman Smoot of the senate finance committee Senator Sim mons of North Carolina ranking democrat of the financecommitee Speaker Longworth Representative Tilson of Connecticut republican leader Chairman Hawley of the house ways and means committee Representative Garner of Texas democratic leader and ranking mi nority member of the waya and means committee Assistant Secre tary Castle ofthe state department and Under Secretary Mills of the treaaurv A hammer with which Julius Schuck 54 farmer near here his son Ernest 0 and a daughter Ida 11 were beaten to death today fur iilshed the only clew to a crime which netted the assailants a prac tically worthless safe containing litttle of value Schuck and tho boy were deaci when found The girl died late Sun day night in n Waseca hospital State authorities and county po hatf of the fifth inning the fans the tragedy the right field bleacher rose and expressed the opinion that the kill crushed toward the southernmost exit which leads down 14 steep steps to a passageway As the pressure of the crowding fans increased those first on tho stairs were toppled down and those behind them fell on them In a few seconds the stairway was a mass of screaming fighting panic stricken humanity while those in the rear unaware of the crush in the stair way pressed forward to push others on to the human heap The crash was not stopped until police rushed into the stand and drove back the hundreds shoving toward the top of the stairs Scores Drop to Ground Wire netting inclosing either side of the stairway gave way under the pressure of bodies and scores dropped from the pile to the ground beneath the stand and escaped in jury Miss Price and Carter were among those at the bottom of the masu The girls 14 year old brother beside her but escaped serious injury Injuries raaged from fractured skulls broken bones and internal injuries to cuts and bruises The clothing of hundreds of per sons was torn off in the jam Police gathered up bushels of hats coats and even shoes after tho passage had been cleared ing was done by two men who came Attempt at New Record jtfuj 20 Yang vuterau Jacksonville aviator todjiy claimed a ncsv endurance flight record of H5 hours 5 minutes for airplanes equipped with 90 horsepower motors when Iio landed his cabin monoplane Ilotsy Totsy on the bench tiere at p ii WORTH Texas May UO first refueling of the mon oplane Fort Worth piloted by R L Kobbins and James Kolley in an at tempt to break the refueling endur ance record was completed at oclock this morning One hundred and ten gallons of gasoline four and a halC gallons of oil and food for the pilots were transferred to the flight ship from Minneapolis president of the North west Bancorporation who will talk jn Worthiest Represen attve S R Torgesbn will discuss Recent Iowa Bank Legislation Clarence S Rye of Manly will speak n Service Charges Impromptu talks are scheduled to e given by L A Andrew snporln endent of banking Ray Nyemaster resident of Iowa Bankers assocla TURN TO PAGE 8 COLUMN 2 to the farm home Saturday when the refueling plane at an altitude of Schuck and the two children wen alone in the house Curried Snfe Away Footprints leading across n fief led police to believe that they were made by two men carrying the ISO pound safe away from the house Other members of the family who were absent at the time of the kill W W Hoffman and H Vf jnes were aboard the refueling iino The Fort Worth had been aloft 1S hours when it was refuelled Itecord Broken Already JACKSONVILLE Fla May WINS SUIT IN GARNER COURT Jury Brings in Verdict of for Plaintiff in Damage Case GARNER May verdict was brot by the jury In the suit for damages by John Gjertson Forest City guardian vs Leonard Johnson et al for The trial started Wednesday morning Mr Gjertson asked 580QO damages for injuries inflicted on his daughters by the fast driving of Johnson and McGee nlong the streets of Forest City when their cars slipped or swerved and struck the two girls Wea v ci t ilk Llie LI 1 lie Llle Kill uu ing said that the safe contained Yonge who early today little or no valuables or money Elizabeth 17 and Wilhelmlna 15 daughters of the slain farmer dis covered their younger sister lying established an unofficial world eu clurance record for light aircraft continued to soar over the munici pal airport here this morning on the floor of thn house when they He must land at Jacksonville returned from Waseca Saturday night When they could not locate their father or brother police at Waseca were notified Hodlns Found Outside Beach to have his record officially recognized Yonge surpassed Miss Elmor Smiths record of 13 hours and 1ft minutes at a m Central The bodies of Schuck and his son Standard time today and hope to were found outsiric the farm house I keep his little monoplane tho Holsy 500 feet apart The boy nppirently Totsy aloft until fl oclock this hflCl been stTunlf fl5 TlA tr i Secretary StimRon who The middle age apparently is the one that cant indulge in non issued scnse without feeling sclfcnnscloua a een struck as lie was fleeing morning He signaled that his en Sne was running perfectly and hia i arranged indicating that a struggle had preceded the slaying Blood hounds were scene but after a lost the sccmt A from the Minnesota Bureau of WEEKS FORECAST Partly cloudy Monday night anil Tuesday not much change In temperature LOCAL STATISTICS GlobeGazette weather figures for 24 hour period ending it 6 oclock a m Monday Warmest Sunday 58 Lowest in Night At 8 A SI Monday Ualnfull For like period ending 01 f a m Sunday Highest Saturday 3d Lowest in Night Without warning a ctild swept out of the nortlwust night am Ci a lrril of frosind tomato plants anil tcniler leaves perfectly supply was holding up well t tt High tide last nighl miulc the pnri1 Sunday ihi wind shifted back into of aforcecl landing danger the south ami tin nights minimise at the beach 18 miles away was some 12 degrans liitjlirr that of the previous uirjit about a year ago Mrs Schuck died two years ago of the record SITAUFR Ibaut 50 111 n mlirclln noons Khnwor on Miv Vcro Jcnlsn Tlie 1fnifti Minlly liisl jill licmschnlil nnrl Iloiliins wrieri Ihu house n Life is like that If you pick out a dozen sound apples the next cus tomer trusting the merchant anrj i luck will got more than share j of rotten ones Knuntnln Inn Tri 1 hum TheTnabaaddress of V
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