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Mason City Globe-Gazette (Newspaper) - May 25, 1933, Mason City, Iowa OF MOINES North Iowas DAILY PAPER Edited for the Home NEWSPAPER THAT MAKES AVL NORTH IOWANS NEIGHBORS HOME EDITION jVOL XXXIX FIVE CENTS A COPY ASSOCIATED PRESS LEASED WIRE SERVICE MASON CITY IOWA THURSDAY MAY 25 1933 PAPER CONSISTS OP TWO SECTIONS SECTION ONE NO 199 On Speeding Up Industry Controlled System Like Socialism Says Stewart By CHAKLES P STEWART ASHINGTON May 25 CPA absorption of unemployment by means of vast public works is a c o m p a r atively simple proposi tion to tackle Aside from providing the money to pay lor them undertak ings like affore station the de velopment ol such areas as the Tennessee river valley flood con trol harbor and waterway 1 m provement road building and the elimination of grade crossings are problems in nothing more compli cated than engineering Setting private industry again a hummlng after three years of prac tically complete inactivity is a far more chancy task Besides being infinitely difficult in itself it involves the creation of a system of relationships between capital and labor and between pro ducer and consumer the end of irhich no man can foresee Competition is to go by the board Output Controlled Output is to be strictly controll ed This necessarily will mean that prices must be controlled Other wise monopoly in its worst form would be inevitable Hours are to be so fixed as to make jobs as nearly as possible go around Minimum wages are to be fixed a living basis or better with due consideration for the in terests alike of employers workers and the public This wilt coll for a deal of flexi bility and to furnish the flexibility a jboard is provided in each indus try on which bosses and employes readjustments as dimming conditions i A T f tsT i Flexibility however haa dcncy to lose its elasticity with time Moreover a compact group like a few captains of industry has a fashion of gaining control of bodies which are established to regulate them and thereafter of regulating their own regulation It is true that theworkers in a situation of this sort can strike But what would the governments attitude be toward a strike against an industry with which as Presi dent Roosevelt says Is now propos ed it virtually ws in partnership Might not the government feel that the strike was more or less against resent it ac cordingly by force It will not occur immediately of course For a while the industrial boards will function very satisfactorily If a little trouble develops the gov ernment will smooth it out Whnt Will Come But gradually as the system be gins to lose Its flexibility and crystallize as the bosses get firm ly into control and as the govern ment comes to look on its partner ship with them as the real what then The plans authors answer that this is quite impossible because the experiment la limited to a term of two years Still suppose at the end of the two years it is agreed that it haa worked pretty well Is there any certainty that it will not be contin mayhap run on into an other presidential ul timately into the term of some president who is not so pleasant an individual to deal with as the white house tenant of today It sounds like a twoyear test of something strongly resembling so cialism anyhow AUNT MET By Robert Quillen Maybe its common but Id rather pass the tooth picks to my company than to see em set an do it with their tongues GOOLIDGE GOT BARGAIN STOCK Sheriff Investigates Hart Abduction Report MAY GET ORDER FOR WITNESSES IN FLOYD COURT Probe of Alleged Attack on Telephone Head Continues CHARLES CITY May vestigation of the alleged abduction of W G Hart Nora Springs presi dent of the Farmers Mutual Tele phone company was continued to day by Sheriff B F Atherton who said a court order would probably be sought to call in witnesses for testimony These witnesses include those interviewed by officers yes terday and today relative to the route said to have been taken by Harts abductors and the condition he was in Mr Hart himself is one of those who will be subjected to some mi nute questioning concerning the al leged abduction which prevented him from attending the annual meeting of the stockholders of the telephone company headed by him Tuesday forenoon The sheriff has let it be known that there are some missing links in his account of the strange happening which need to be supplied for a complete story of what happened Agitation Before Meeting At that time Hart asserted that he believed the purpose of the ab duction was to keep him from at tending the meeting at Rudd and declared that one of ills abductors said Hell never attend thatmeet There was agita tioni previous to the meeting offi cers learned and proxies were eag erly sought It was said that a change of officers and lower rates were among the issues in the com pany election Hart according to his report to officers stopped his car when an other auto blocked the road Two men got in his car and made him drive for a while and later one of them pulled him into the back seat and from blows received when he struck the seat or was hit over the head he became unconscious Yes terday Hart told officers ho was chloroformed A physician inter viewed by officers stated Hart suf fered no bruises Officers Check Report After the alleged abduction Hart was left alone and said he went to St Ansgar to call Rudd to tell stockholders he would be unable to attend the meeting Officers inter viewed individuals in the exchange office at St Ansgar on the con dition of Hart when he made the call These individuals told officers he showed no signs of rough treat ment Hart told Sheriff Atherton he would be unable to tell him where he was left in his car because he had forgotten the exact location The campany operates exchanges at Rudd Rockford Nora Springs and Floyd Police Seize Alcohol After 1 4 Miles Chase CEDAR RAPIDS May 25 Maurice Denning 25 Council Bluffs and Albert Neilson 22 of Portsmouth were held to a federal grand jury after police seized 140 gallons of alcohol after a 14 mile chase Approve Two Camp Locations in Iowa WASHINGTON May 25 President Roosevelt and Robert Fcchner director of reforestation approved locations of camps at Keo sauqua and Back Bone state park in Iowa and at Custer State park in South Dakota Identified as Holdup Man at Oil Station COUNCIL BLUFFS May 25 UP Anderson 30 Council Bluffs was identified by Ralph Crum station attendant as one of two men who held up a filling sta tion near Altoona Monday A com panion of Andersons has not been apprehended Win School Prizes IOWA CITY May 25 T Howes of Clinton and James Mc Clintock of Iowa City were awarded the 25 Frank O Lowden mathe matics prizes at the State Univer sity of IOWB Louderback Not to Resign After Acquittal by Senate Judge Says to Do Would Play Into Enemy Hands WASHINGTON May 25 Federal Judge Harold Louderback Is free to take again the bench in California acquitted by the senate on the five impeachment counts brought against him He said to resign now would be silly and like playing into his enemies hands even though a ma jority of the senate registered dis approval of his conduct in receiver ship case9 by voting against him on the final general charge of con duct prejudicial to the dignity of the judiciary Says It Is Vindication I feel that it is a vindication he smilingly told those senators who crossed the chamber to congratu late him when the verdict had been given late yesterday after nine days of trial On that last charge summarizing the other four the majority that voted guilty fell far short of the twothirds needed to convict The senators had debated his cose in executive session for two hours fore readmitting the public to the balloting Conviction on a single count would have removed him from office Bused on Appointments Louderback was accused of tyranny favoritism unlawful conduct as a judge misbehavior In office and with being a hindrance to litigants in the various charges The prosecution was based on his appointment of H B Hunter for the RussellColvin Brokerage company of San Francisco and J p Short as his attorney appointment and al leged granting M arshaji Woodwbrth as attorney and Samuel Shortridge Jr as receiver for the Lumbermans Reciprocal associa tion appointment of GH Gilbert JUDGE HAROLD LOUDEUBACK as receiver for the Fageo Motor company and upon his grant of re ceivership papers for the Pruden tial Holding company The verdicts varied from 63 not guilty and 11 guilty In the Gilbert count to 45 guilty 34 not guilty on the final all inclusive charge FOUR KILLED IN EASTERN STORM Property Damage in Millions Reckoned in Area Near Philadelphia PHILADELPHIA May 25 Battered by the tornadlc fury of Its worst electrical storm In weather bureau history the Philadelphia area counted four dead today and reckoned property damage in the millions Philadelphia bore the brunt of the storm which roaring in on an 82 miles on hour gale from the northwest late yesterday unroofed homes and schools blew down hun dreds of trees and shattered thous ands of windows in stores and dwell ings Lightning struck in so many places firemen were unable to cope with the alarms which resulted and hailstones as big as marbles crashed through windows as if they were paper On woman was killed by light ning as she mopped up rainwater in her home another was frightened to death in Camden N J a man died in the collapse of a Fairmount park pavilion and a Chester county farmer was killed In his automobile Makes Guilty Plea to Charge of Kidnaping Boettcher at Denver DENVER Colo May 25 plea of guilty to a charge of kip naping Charles Boettcher 2nd wealthy Denver broker and hold Ing him for ransom was en tered in federal court yesterday by Carl W Pearce 35 former Greeley Colo insurance salesman Dunkerton Boy Dies After Hit by Truck WATERLOO May 25 vin Gigl 8 son of Mr and Mrs Lester Gigl of near Dunkerton died today of a skull fracture suf fered late yesterday when hewas struck by a truck Glenn Allen of Waterloo was the driver of the truck Witnesses said the child Jumped from a farm wagon into the path of the truck Senate Adopts Amendment to Glass Bank Bill Shouts Approval of Plan to Guarantee All Deposits Up to WASHINGTONMay 25 The senate today approved the Van denberg amendment to the Glass banking bill providing for the im mediate guarantee of bank deposits The Glass bill has already been passed by the house Without a record vote and with only a handful of senators on the floor members shouted their ap proval of the plan proposed by Sen ator Vandenberg R It provides that for one year after passage of the Glass banking bill deposits up to 2500 in all banks state and national shall be guaranteed Would Be Assessed Banks participating would be as sessed a share of the guaranty fund with the government backing it up The Glass bill has a deposit in surance provision that would be come effective one year after the bill becomes a law Senator Adams D and a Pueblo Colo banker told the sen ate the amendment would massacre thousands of state banks Join or Perish The Coloradan asserted it means that the state banks either have to go Into the federal reserve or perish It lays down for admission to the federal reserve system that many sound state banks cannot comply with he contended An amendment by Senator Buk ley D reducing to one year the period in which banks should divorce their security affiliates also was adopted The bill provides two years START TO PLUG UP INCOME TAX LAW LOOPHOLES House Group Votes to Limit Capital Loss Deductions WASHINGTON May 25 In m effort to stop up loopholes in the ncome tax law as an aftermatn of Jie senate investigation of J p Morgan a house ways and means subcommittee today approved an amendment to the industrial recov erypublic works taxation bill to limit deductions from capital losses to one year This was agreed upon shortly af er the house began debate on the luge measure with a declaration by Chairman Pou of the rules commit ee that President Roosevelt wants this bill enacted as is The amendmentwill be submitted o the house for action tomorrow before a vote is taken on the indus trial bill Agreed on Before The step was agreed upon in the iiouse a year ago when the billion dollar revenue bill was considered but the amendment was stricken out by the senate Under present law capital losses may be deducted from income tax payments over a two year period Meanwhile Representative Coop er D a member of the ways and means committee told the house the full ways and means committee approved the principle of feeling the subcommittee to draft it The senate banking committee received testimony that Morgan paid no income taxes in this coun try for the last two years The rea son was not brought out Twofold Opposition Meanwhile two fold opposition shaped itself In the house today in the antitrust law suspension and revenue provisions In the adminis trations industrial recovery bill but almost unanimous approval of the 53300000000 public works pro rani was indicated The house foreign affairs com mittee today tabled a resolution re questing that American delegates to the economic conference be in structed to work for 16 to 1 bi metallism Deems Estate Pays Tax on 60654 DES MOINES May 25 The estate of John Francis Deems Bur lington paid an inheritance tax of on a net taxable estate of Deems Is a former of ficial of the Burlington road Indications of Truce in North China Grow PEIPING May 25 Indica tions accumulated today that a truce had been reached in the north China fighting altho both Japanese and Chinese authorities were re luctant to admit it or discuss the situation Proclaims Poppy Day Saturday May 27 was designated as Poppy Day in Mason City in a proclamation issued today by Mayor J T Laird The proclamation called upon all citizens of the city to observe the day by wearing the American Legion and American Legion Auxiliary poppy in memory of the World war dead The proclamation stated Whereas in the great crisis of the World war the young men of Mason City offered their services to our country with an exalted spirit of patriotism numbers of them sacrificing their livea in that service And Whereas the same exalted spirit of patriotism is needed today for the service of our country in its peacetime difficulties Therefore I J T Laird Mayor of the City of Mason City urge all citizens to recall the spirit of these gallant dead and renew the memory of their high patriotic service by the wearing of the American Legion and American Legion Auxil iary memorial poppy on Saturday May 27 To that purpose I do hereby proclaim Saturday May 27 Poppy Day in the City of Mason City Mayor House Jack Built at 23 Wall Street House of Morgan Is Money Lender to World By DALE HAttRISON NEW YORK May 25 No 23 Wall street stands the House of Morgan money lender to the civ ilized world They call it The Corner It sits in severe stone at Broad and Wall streets Frowning at It across Wall street like some fellow baron of bullion is the subtreasury of the United States whose vaults glow with gold George Washington heroic In bronze stands there Whenin the flesh he was quarter ed in this very neighborhood he could have made good use of the gold upon which today his bronze back is so coldly turned With that gold for his Continental army there would have been no blood from naked feet in the snows at Valley Forge Exchange Across Street Across Broad street from the Morgan house is the stock ex change alive feverish and fre quently hectic writing daily new fortunes and new failures One block away a spired paradox is gray Trinity It looks down Wall street upon the places of money like some unbid den guest at the feast Before there was any house of Morgan any income taxes or any private banking business with 000000 resources Trinity was there On that September day in 1921 when a terrific explosion roare deathto 30 personsalmost in fron Morgaia VSouse i Trinity ready was and even as th street echoed with the explosion th bells of Trinity tolled unbrokenly the noonday hour Not In His Office J P Morgan was not in his of fica that office with the roll top desk and the open fireplace He was in England But one of his employes was among the 30 who were killed Once though the death that lies in explosives was only arms length away That was in 1915 when on assassin confronted him In his Long Island home The banker stepped toward tho man and was shot twice in the abdomen The house of Morgan bears no identifying flashing sign nor even a modest brass plate It stands at the money fourcorners of Lhe world its three modest stories something of an incongruity com pared to its towering neighbors It is a simple headstone in a cemetery of imposing monuments Forbidding in Appearance In appearance it ia forbidding There is a front entrance at the corner circular stone steps leading to a polished glass door Behind that door stand uniformed guards Un ions you are known or have satis factory credentials the glass door closed to you The house of Mor gan is a private bank which has consistently prided itself in its pri vacy As the head of the house told the senators In Washington yesterday you need an introduction if you would do business there There is a side entrance through which most of the customers come and go Farther up town is another Mor Tllm to Infue 2 Column 4 JIMMY APOSTELE LET GO ON BOND Investigation of Arson At tempt Under Way by State Official Jimmy C Apostele was releasec on a bond late Wednesday after a charge of attempt to com mit arson had been filed against him He was arrested Wednesday for investigation in connection with the alleged attempt to fire the City hotel 3054 North Federal avenue Sam Starr deputy state fire mar shal and local police and fire offi cials Thursday started the second day of the probe of the attempt to set fire to the downtown build ing Officers Wednesday concerned themselves largely with questioning Apostele and Nick Bakragos Police patrolmen early Wednesday morning discovered gasoline soaked rags In three places in the building Officers said they entered the build Ing when they saw Apostele and Bakrages climb the rear stairs on the belief the men might be taking alcohol to the hotel QUIZZING MORGAN Ferdinand Pecorn New York attorney as he questioned T 1 Morgan during tho Bcnnto hank ing committee Investigation of private foanldng Associated Press photo AntiHitlerites Pier as Germans Arrive Enraged When Delegates tc Worlds Fair Transfer to Tug to Land NEW YORK May 25 ng broke out today nt the North German Lloyd line pier in Brooklyn n connection with the arrival in America of Hans Wcidemann repre ejitdUve of Aaolf Hitlers Gcrmai overnment at the forthcoming Vorld fair exposition in Chicago A crowd of 1000 men and women antiHitlerites awaiting the nrriv al of the nazi official became en when it was learned that Veidemann and an aide accom him to the exposition ha been transferred from the liner Col umbus to a tug and brought to the mttery in Manhattan Displaying banners condemning the nazi murder and terror re ime the crowds turned on the 50 uniformed police and 30 plain clothesmen throwing bricks and bottles at them Hand to Hand Fight Police engaged In hand to hand combat with the rioters and after a struggle arrested 13 men and wo men the latter wearing red hats The prisoners were locked up In garage near the pier and rioting broke out afresh as the crowd charged the police standing guard n front of the garage door Reserves were called nnd in a short time additional police forces arrived on foot on horseback and n automobiles Order was restored only after police drew their guns and levelled them at tho crowd Delegation at Pier Early today a delegation from the German consulate here went to the Turn to rant I Column 3 Will Rogers WASHINGTON May 25 Back in there to see the Mor gan follies You know he made himself a mighty pleas ant and agreeable witness This preferred list that they read everybody thats not on it Is knocking It Some think the whole trial wont do much good but any time one half learn how the oth er half live why it does us all good You see there Is a lot of things these old boys have done that are within the law but Its so near the edge that you couldnt slip a safety razor blnde between their acts and a prose cution Yours WILL ROGERS CCnpyrfRht HcNuiBlH Syndicate OTHER LEADERS NAMED IN PROBE OF MORGAN FIRM Robinson Demands Davis Recall Says Woodin Is Through WASHINGTON May 25 late Calvin Coolidge and a long st of other celebrities were named o senate investigators today as pur hasers of stock from J P Morgan nd company at bargain prices Mention of the former presidents ame as a special buyer of Standard irands Inc stock in the summer f 1928 a few months after he left lie white house caused an audible tlr in the huge throng that had kept on edge by previous dis losures Other names included William H Voodln now secretary of the treas ury John W Davis Morgan coun cl Norman H Davis ambassador atlargc now In Europe John J laskob former chairman of the emocratic national committee and many whose names are as widely mown To Selected Customers Ferdinand Pecora the committee counsel brought out that the cost of the Standard Brands stock to Morgan and company was 32 n share and that this was the price of Its sale to the selected customers 1st Trading In the stock opened at 40 on Sept 6 1929 and wos quoted at 43 on Sept 10 Juat before the end of the dayo first session J P the wealthy the stand voluntarily to explain that the rea son he paid income taxes in Eng land arid not the United States for 1931 and iS32 was a difference in the As new senjaatlfinii yrere develop ingin the investigation yester days disclosures echoed on the senate floor with a demand from Senator Robinson RInd for re call of Norman H Davis from Eu rope and an assertion by the sen ator that Secretary Woodlns use fulness has ended Bought 3000 Units Coolidge was marked down for a purchase of 3000 units of the Stan dard Brands stock Other famous names on the list vere Charles A Lindbergh 500 Senator McAdoo 1000 en John J Perilling COO Raskob 2000 Bernard M Baruch 4000 John W Davis 5000 Norman H Davis took 500 and Woodin 1000 Most of these names were on the special list of purchasers of Alle ftmny corporation stock placed In he record yesterday The vast extent of the Morgan business also was divulged records being Introduced while George on the stand showing that securities sold to the public since the armistice totaled The Morgn statement of securi ties sales to the public was prefaced with an Introduction saying It was a summary of offerings since the World war Actually the period covered in the statistics was from Jan 1 1910 to date or a period beginning a little after the armistice Ouird Crowded Room As the hearing progressed un usual precautions were maintained to guard the huge crowded capitol police and department of justice operatives being on hand watching the massive piles of docu mentary evidence at the disposal of Ferdinand Pecora the committee counsel and making sure that no suspicious packages were carried Into the hearing by visitors As to the 6024444200 securities sold to the public by Morgan since the war Whitney said that of these most of which were offered In as sociation with other underwriters have been retired Public offerings of foreign gov ernments nnd corporations he said amounted to They were offered to the public Turn to Pnue 2 Column 3 STrt Wea IOWA WEATHER Increasing clnudlncaa show ers prolmblo Friday and in south portion Thursday nlght Not much change In tempera STATISTICS GlobeGazette weather figures for 24 hour period ending at 8 oclock Thursday morning Maximum Wednesday 18 Minimum In Night 50 At 8 A M Thursday 68
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