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Mason City Globe-Gazette (Newspaper) - November 22, 1933, Mason City, Iowa North Iowas DAILY PAPER Edited for the Home VOL XL ASSOCIATED PRESS LEASED WIRE BEBVICB THE NEWSPAPER THAT MAKES ALL NORTH IOWANS NEIGHBORS MASON CITY IOWA WEDNESDAY NOVEMBER 22 1933 EDITION THIS PAPEK CONSISTS OF TWO SECTIONS SECTION ONE NO Roosevelts Diplomacy Litvinoff Believed to Have Met His Match By HERBERT ILTJMMER ASHINGTON Nov 22 UP The visit of Max im Litvinoff to Washington had stretched out so long before Unit ed States recog nition of Russia w a s announced that observers were beginning to suspect thai he was a bit dis illusioned as to what he had ex pected to encoun ter Not that there was any outward indication of it Probably no event in Washington ever was more completely bottled up as far as outsiders were con cerned than the RussoAmerlcan conversations Aside from daily announcements that everything was proceeding according to plan or that Con versations are pursuing their nor mal course little could be learned what actually was going on dur ing the first week of Litvinoffs presence here Newspapermen wearily trod the path from the white house to the state department thence to the home of Boris Skvirsky Litvinoffs host daily to no avail The answer to their queries was the same in nil places Meeting His Match As the days wore on with no def inite announcement from either side the impression got around that perhaps Russias most astute diplomat had met his match at the game in which he is rated a mas ter It was recalled too that before leaving Europe the commissar was was V coricerned Be Tsaw set Litvinoffa etatementliterally not even the commissar himself Anyone even remotely familiar with the situa tion knew that considerable time would be necessary for the two na tions to canvass their differences It would seem to indicate however that Litvinoff expected to dispose of the matter in quick order If this is what he did mean he must have been disappointed Jockeying for Position Some profess to believe Litvinoff was maneuvered into a position here that he didnt quite foresee This view holds that he found himself pushed adroitly into a discussion of things he perhaps would have pre ferred to discuss later All of which is not surprising to those acquainted with Rooseveltian methods And it must be remember ed that at the time the invitation was extended to the Soviets he made It plain that he personally would conduct the conversations for the United States M Litvinoff like Montagu Nor inan of the Bank of England on his recent visit to the president may return home with a healthy respect for Roosevelts ability as a diplo mat 14 LOSE LIVES IN PLANE CRASH New Russian Ship Reputed to Be Largest Land Plane in World MOSCOW Nov 22 dis patch from Kharkov said the newly constructed airplane K7 said to be the largest airplane for overland fly ing In the world crashed there yes terday killing 34 persons The dead were reported to include Ihe chief pilot and mechanic and several Kharkov aviation officials but beyond these bare facts no de tails were given out A soviet government commission was appointed immediately to inves tigate the cause of the crash and establish responsibility for it Wea IOWA WEATHER Generally fair and colder Wed nesday night Thursday increas ing cIouilinosH with rising tem peratures in tho west portion LOCAL STATISTICS GlobeGazette weather figures or 21 hour period ending at 8 Vclock Wednesday morning Maximum Tuesday 87 Minimum in night 2fi At 8 a in Wednesday 27 Precipitation 10 of an Inch Snonfall j inch THWART MANCHESTER ROBBERY Banking Act Gets Final Legislative Approval SENATE FORCED TO AGREE WITH HOUSE ON BILL Gives Up Amendments Ban Upon Nepotism Passes House DBS MOINES Nov 22 administration banking bill today received final legislative approval after a temporary delay occasioned by refusal of the house to concur in a senate amendment With the legislative machinery working in high gear however the bill was messaged back to the sen ate which by a vote of 26 to 14 agreed to recede from its amend ments Thirteen republicans and one democrat voted to stand firm on the amendment Important among the bills con sidered spfar in the special session the banking measure is intended to remove double liability on stock holders of banks permit the obtain ingof RFC funds to improve the capital structure and allow Iowa State banks to participate in the federal deposit insurance program Approve Ritchie Bill Both houses approved the Ritchie bill authorizing deferment of publi cation of notice delinquent tax sales companion measure to the sale postponement measure which yesterday received final legislative approval iJBy a voteDf 81to 15 therhouse passed the Goode nepotism bill malt ing it unlawful for the employment by a public official or officer of any person within the third degree of relationship The senate also approved the first of a series of bills to revise the Iowa corporation laws The amendment to the banking bill to which the house objected would have limited the right to set the privileges and preferences of stock to preferred stockholders Approve Amendment House members approved one senate amendment which provided that in case of liquidation of a bank the depositors shall have the prior right to share in assets before the stockholders The house banks and banking committee introduces the second emergency bill which would provide the subordinating of rights of cer tificate holders in banks under the waiver plan to those of the recon structlon finance corporation in or der to obtain loans from the RFC The Goode nepotism bill as pass ed finally by the house carried an amendment making it unlawful for any school board or member there of to employ any teacher or other person unless by unanimous con sent of the board within this degree of relationship Zylbtra Voted Down Representative Zylstra of Sioux was voted down in trying to make he relationship degree the second instead of the third You dont have to go very far in o the statehouse to find some evi dences of nepotism Repiesentative Stimpson of Tones declared He said the original bill without the amend ments covered the entire subject and implored the members to stop their unreasonable cackling Its original form the Ritchie Jill would have suspended publica lon of notice to Feb 15 1935 hut the senate in its consideration to day adopted several amendments As approved by the upper house by a 39 to 3 vote the bill permits JUblication of the second of the wo required notices not more than wo weeks before the date of sale vhich yesterday was fixed for April 2 1931 Publication legalized In this way through the adoption of an amendment by Senator E J Wenner of Black Hawk the first mblication which has been made by hree counties Polk Woodbury and Winneoago is legalized and second mblication may be deferred for ome time The remainder of the 99 counties delayed publication of their notice n accordance with a proclamation ssucd by Gov Clyde L Herring The senate also considered and passed the first of a series of bills Irafted by the special corporation ommission to revise Iowas cor o rut ion laws Rewrites Provision Senator Nelson explained that the till rewrites the provisions on vari iis forms of cooperative organiza lon and In its provision follows closely the recommendation of 784 Articles Would Form Commodity Dollar Basis Statistics Bureau Labor Department Turn to Vtsc 3 Column 2 Has Figures WASHINGTON NOV 22 Pretzels castor oil ground bones caskets and snuff arc some of the articles whose prices may be used as an index to determine the vary ing gold value of the commodity dollar if such a currency unit is adopted They are among the 784 articles studied by the labor department in fixing the index number of whole sale commodity prices whose fluc tuations some economists urge should govern the dollars metal base If prices rose as shown by the index the gold or other metallic backing of the dollar would be re duced and if they fell it would be increased Theoretically the dol lars purchasing power in terms of commodities would remain con stant under this scheme Average of Prices The labor departments bureau of labor statistics has been calcu lating the index figure for years It is designed to give the exact av erage of all wholesale prices as compared with the average for 1928 Each item included in the calculation is weighted according to its importance in the nations market Greatest weight is tiierefore given to foods clothing and build ing materials the necessities for which most of the national income is used The 784 commoditiesare divided into 10 classifications which fol low together with the percentage of weight given them in making the index number calculation Hides and Leather Farmproducts 1720 foods 1314 hides and leather products 302 textile products 995 fuel and light ing 1472 per cent metals and metal products I54S building materials 034 chemicals and drugs 162 housefurnishing goods 300 mis cellaneous 923 Under farm products all major commodities are used including harley corn oats rye wheat cat tle hogs sheep poultry beans cot ton eggs fruits hay hops milk peanuts seeds tobacco vegetables and wool Prices of several classifications of many of these products are in cluded For instance six different wheat grades are calculated The vegetables are onions and potatoes the fruits apples lemons and oranges Some Count Heavily Some items count heavily in the final computation Hogs are given a weight of 292 per cent while onions count only 03 of one per cent The biggest weight given any single item out of the 784 commodi ties Is 437 for the average price of all passenger automobiles In contrast castor oil ground bones and pretzels count only 01 of one per cent caskets 1 of one per cent and snuff 05 of one per cent Door knobs are given a weight of 06 of one per cent wagons once the basis of American trans portation 02 of one per cent and windmills so little that they merey listed as less than 01 cent are per LINDBERGHS TO FLY EAST AGAIN Will Return to Continent After Hop to Azores From Lisbon HORTA Azores Nov 22 Col and Mrs Charles A Lindbergh who flew here yesterday from Lisbon plan to take off tomorrow for a return flight to the continent by way of the island of Saint Michael The plans for the flight it was said depend on the weather The exact destination was not an nounced Although there have been previous indications that the flying Amri can couple who are conducting a Will Rogers SANTA MONICA Cal Nov reading Mr Barney Baruchs non inflation article in a little Philadelphia periodical run by Benjamin Franklin and Horace Lorimer I was talking last night on the phone to Mr Baruch in New York And here is a very interesting thing he said This fellow clown in Wash ington is not going to be stamp eded by the V S chamber of commerce or any of the rest of us non inflationists or by the in flationists either He listens to all of us and then regardless of professors pedagogues or econ omists or financiers he makes up his mind himaelf And he is go ing mighty easy and 1 think will handle this money situation in a way that is beneficial to the ma jority if not to a small minor ity That sounded mighty hope ful coming from a man like Bar uch Yours WILL ROGERS Crororfghl 1313 MrVniiflit Sjntllcatc Accidental Death Verdict of Jury in Decorah Probe Bringsjord Freed of Blame in Injuries Received by Sagness DECORAH Nov death was the verdict of a coroners jury this morning in the investiga tion of the fatal injuries suffered by Gerhard Sagness 35 when he fell after an altercation with Ole P Bringsjord of Frceport The jury freed Bringsjord who was not held of any blame in the case Sagness died early Sunday from a fractured skull Bringsjord said Sagness saw him Saturday night and demanded a cigaret When Bringsjord replied that he had none Sagness grabbed him and as Brings jord broke away Sagness fell hit ting his head on the walk the Frce port man said Funeral services for Sagness were held yesterday afternoon at the Winneshiek county burial associa tion funeral parlors the Rev T A Hoff officiating Burial was made in Calmar Mr Sagnesa had no im mediate relatives in this vicinity survey of air routes across the At lantic intended to make several side trips around the Azores the new project was regarded ns alter ing this program Whether the return to the conti nent would preclude a projected flight back to the United States by way of Bermuda was not indicated MINIMIZATION PLAN REJECTED Judge Refuses Counsel of Receivers for Royal Union Life DES MOINES Nov 22 eral Judge Charles A Dewey today rejected the recommendation of the receivers for mutualization of the Royal Union Life Insurance com pany Judge Dewey said he would award the reinsurance contract ei ther to the Lincoln National Life Insurance company of Fort Wayne Ind or the United Benefit Life In surance company of Omaha The recommendation for mutual ization had been opposed by numer ous groups of policy holders and firms seeking the reinsurance con tract In announcing rejection of the re port of L A Andrew and 15 W Clark coreceivers Judge Dewey said I appreciate their efforts but I cannot convince myself that it would be legal to take from the old company and give it to the new company as Is proposed in the mutualization plan PRESENT MONEY POLICY SEEN AS MILD PROGRAM Real Inflation Threat Feared by Rogers If It Fails NEW YORK Nov 22 James Harvey Rogers of Yale uni versity declared today in a state ment commenting on the resigna tion of Dr O M w Sprague as special assistant to the secretary of the treasury that the real threat of inflation is not in the present monetary policy of the government but from the possibility of its failure Among the inflationary devices entrusted to the president by con gress said Professor Rogers the milder are being used If they do not prove effective the danger is that congress will make mandatory more drastic and even uncontrollable measures In this event it will be upon those who sabotage the pres ent policy that the onus of such a frightful disaster must rest Servo as Warning Senator Reed R Pa said in a statement today the resignation of Dr Sprague from the treasury should serve as a warning to the country that the national adminis tration stands at the brink of the most dangerous experiment any governmentcould undertake Sprague in his resignation mes sage to the president declared his intention aroused opinion to help build up the and organized public said was necessary to keep federal fiscal policies from inflation Has Expected Sooner The only official comment for publication on the retirement of the treasury financial adviser was this from Acting Secretary Morgenthau I knew this was imminent I knew he was out of sympathy with the administration I am only sur prised it did not take place sooner I think the sun will rise tomorrow and the next day and the birds will sing Spvague had been in disagreement with President Roosevelts money policies since the world economic conference ended in London last July During that meeting he urged that foreign exchange be stabilized The president refused and it was explained then that such a move might keep domestic commodity prices from moving upward Cite Disloyal Statements There were others who said Spragues objections were to have been expected The Committee of the Nation which approves the gold buying plan said in New York for instance The stabilization urged by him after his service in the Bank of England would have tied our dollar to the English pound It is humiliat ing that a servant of the govern ment whose personal opinion would carry comparatively little weight should disregard the obligations of his position and use its prestige While in the service of the govern ment behind closed doors talking to bankers in New England he criti cized the president and attacked his policy Professor Spragues disloyal statement confirms misgivings long held by American industrialists and leaders of agriculture regarding him Business Leaders The Committee of the Nation is headed by J H Rand Jr New York Turn to IflKft 2 Column 1 2 Seriously Hurt in Cavein at Coal Mine SCRANTON Pa Nov 22 Two men were seriously injured nnd three others narrowly escaped today Is the Hides of a hole in which they were digging coal in South Scran ton caved in on them PRICE OF GOLD REMAINS SAME With Dollar Again in Slump Quotation Stays Below World Mark WASHINGTON Nov 22 price of 53376 an ounce was fixed today for RFC purchases of newly mined gold unchanged from yester day With the dollar again in a slump this figure was below the world price of gold at London on a basis of sterling opening at to the pound The dollar later showed some Im provement and recovered to only to depreciate again to fi45i The London gold price in dollars chanjred accordingly KIDNAPED BY BANK BANDITS Grover C Wcylnnd president of the American Bank uinl Trust company of Itacine Hls was abducted temporarily liy gunmen who robbed the bank and wounded two persons with machine iruu bul lets Patrolman Cyril Jloyiird right of Undue also was carried nwiiy as 11 hostage until the bundlls reached the city IhuilH Associated Norris Plans Development of Missouri To Introduce Measure Similar to One for Tennessee WASHINGTON Nov 22 Senator Norris RNebr moving spirit for years in the Tennessee valley development plan aaid today he would introduce a bill when con gress meets to accomplish the same ends for the Missouri river Norris made his announcement to newspapermen upon his return to Washington from the west He said his plan together with Cove creek dam on the Clinch riv er in Tennessee would harness enough water to control the flood waters of the Mississippi Can Get Support Norris believes he can get ad ministration support for the bill he is now framing and recalled that when President Roosevelt signed the Tennessee ValleyMuscle Shoals bill he said this was but the begin ning of a nationwide system to de velop power improve navigation and provide irrigation nnd flood control Asked if his measure would call for creation of a Misouri river au thority the Nebroskan said inas much OR irrigation would be the pri mary aim it probably would be ad ministered by the reclamation bu reau in the department of the in terior Part of Iropfram The huge Fort Peek Mont dam for which the public works admin istration had allocated large sums he said would be part of his Mis souri river bill The proposed dam in North Dako ta and dams in Nebraska and Kan sas also would figure in the pVan he added Norris likened the idea to the Tennessee valley project except the Missouri would not have a fertillxer phase Jury Ponders Fate of Former Officers Tried Under Dry Law PEORIA 111 Nov 22 fale of two former Iowa federal officials charged with conspiracy to violate the national prohibition laws rested with a jury today The case was handed to the jury last night after government and de fense attorneys had completed their final arguments The defendants are William C Cooper of Dea Moines suspended prohibition agent and Harry Brown of Daven port suspended deputy United States marshal Mistrial Declared in Cherokee Case ORANGE CITY Nov 22 Judge C W Pitts declared the trial or Claude Benslcy of Cherokee charged with assault during a farm picket battle a mistrial because or the illness of a juror SALE OF BANCO STOCK BARRED Two Twin City Corporations Charged With Sales for Repurchase ST PAUL Nov 22 State Commerce Commission today order ed temporary suspension of sale in Minnesota of stock of the North west Bancorporation and the First Bank Stock corporation Minne apolis holding companies Officials of the two corporations which have more than 300 member banks in the northwest states were ordered to appear before the Com merce Commission at 10 a m Dec 4 to show cause why the temporary ban should not be made permanent The Northwest Bancorporations principal member bunks are the Northwest National bank of Minne apolis and the Empire Slate bank of St Pnnl The First Bank Stock corporations chief members are the First National banks of St Paul and Minneapolis Solvency Not Affected Elmer A Benstodo state com missioner of bankg and a member of the commerce commission said the action should not in any way dis credit or In any way be construed as to cause any question ay to the solvency of the member banks of the two corporations The action taken nt a meeting of the three man commission late yes terday followed a probe into sale of the stocks made at the request of Gov Floyd B Olson The State house of representatives at the last session of the legislature adopted a resolution suggestingthe inquiry The commission in its order against the Northwest Bancorpora tion charges it appears the North west Bancorporation has used large sums wrongfully and for the pur pose of misleading and deceiving the purchasers or dealers in shares of the common stock and for the pur pose of manipulating the market Sold to Subsidiaries The commision charges the first hank stock corporation sold 50000 shares of common stock to the First Minneapolis company and the First St Paul company subsidiaries un der an agreement to repurchase nt tho same price receiving in payment unsecured promissory notes The commission charged the stock was repurchased when the stock had depreciated in value This sale the commission said was fraudulent and fictitious The commission charged it fur ther appears the sale may have worked fraud on other purchasers of the stock and misled them as to tho true worth of sucii shares BANK PRESIDENT AND WIFE HELD CAPTIVE BY FIVE Bandits Scared Away as They Await Release of Time Lock MANCHESTER Nov 22 J J Burbridgc president of the rmcra nnd Merchants Savings ank of Manchester was kidnaped and held captive with his wife last night by five persons who unsuccess fully attempted to rob the bank to day The bandits were frightened from he bank as they awaited the release of the time lock on the vaults when Cashier W W Matthews appeared They fled eastward in two cars Sheriffs of surrounding counties were notified as well as broadcnst ng stations and the state bureau of investigation at Dos Moijies Offi cers at Dyersville about 20 miles east said the group had not been seen passing through there It was iclieved they turned off on a side road Kidnaped mi Streut I was picked up on the street last night about Mr Bur Midgo said took me to my louse and forced me to open the door Then they held me find my wife captives there until about this morning We went to the bank aud I was forced to open the door They placed my wife and me in a dark room at the rear of the bank along with the janitor after binding my hands and feet Matthews the caihSer imiat have suspected something when he came to the bank and he dropped out or sight behind the counter be fore the bandits saw him Then he rushed to my office and escaped through the window to turn in Uic alarm The bandits five men null two women became frightened and jumped into their automobiles Lucks Not ISelcnscd The time locks had not released the vaults when the cashier ap Tnrii In Tiuu a Column Steering Committee Votes for Recess in World Arms Parley GENEVA Nov 22 steering committee of the disarma ment conference volcd today to sus pend the parley until January In the meantime international diplomacy is to be given full play in its efforts to save the disarma ment conference from oblivion and to bring Germany which withdrew last month from I he negotiations ack into the conversations MORGENTHAU TO TALK WITH F R To Discuss Pushing Ahead With Gold Control Program WARM SPRINGS Ga Nov 22 Roosevelt will con fer with Acting Secretary Morgen thau of the treasury here late tliip week in puihingahead Ills gold control monetary program It was stated today at the little white house that nothing special was up for consideration in Ihe Morgenthau talk Meanwhile Mr Roosevelt sciirl nothing about the resignation of O M W Sprague as special adviser to the treasury No doubt was left here today thai he is going ahead with his dollar revaluation program with Mr Mor genthau in charge of the effort ICE CREAM MAKING Heavy cream is the most satis factory base for desserts frozen without stirring according to the government expert who prepared the booklet Ice Cream Frozen Without Slirrlnfr now available to readers of this newspaper for a postage and handling charge of cents Such cream Is used in making mousses and in combina tion with egg whites in parfaits These nro frozen by packing in ice and salt or placing in a me chanical refrigerator provided the temperature of the unit is sufficiently low 21 to 2T Fahrenheit Heavy cream is ex pensive however and If used alone is too rich to be palatable Recipes have been prepared using other ingredients Send for copy Mason flity Information Bureau Frederic J Ilaskin Director I C I inclose 1 cents in coin carefully wrapped for the booklet on Ice Cream Frozen Without Stirring Name Street City State
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