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Chester Times: Friday, March 10, 1933 - Page 1

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   Chester Times (Newspaper) - March 10, 1933, Chester, Pennsylvania                              N7ET PAID CIRCULATION FOR SIX MONTHS ENDING SEPTEMBER 1O8 FINAL EDITION With All Latest and Best News of the Day 57TH 17537 Dallv Leased Wire Reports of United Press UP and International News Service HvSV CHESTER PA FRIDAY MARCH 10 1933 TWENTY PAGES PRICE TWO CENTS PAYROLL CHECKS CASHED IN SCRIP BY PHILA BANKS Crisp New Certificates Replace Currency at Par i Value ROOSEVELT ASB BUDGET CUTS IN MESSAGE TODAY Proposes Drastic Retrench ment in Expenses for War Veterans Much Hidden Gold Is Rei turned N Y Instituj tions Are Open Program Would Save Half Billion Doll a r s Has Bond Issue for Jobs CONGRESS IN EXTRAORDINARY SESSION Chester Clearing House to Meet This Afternoon A meeting of the Chester Clear ing House Association was held this morning and after studying the latest phase of the banking holiday the members adjourned to reassemble this afternoon Disappointment was registered by all banks in the Presidents proclamation extending the holi day as the local units were all pre pared to begin their normal func tions this morning The use of scrip was studied anew and while the members here are loath to introduce this form in exchange in Chester decision on its use was reserved until this afternoons meeting If the holi day is extended farther it is fully certain Chester scrip will be used An official in answer to a query declared he could see no reason scrip would not be accepted by local merchants as it is firmly backed by adequate re sources l Meanwhile the banks are mak ing change and permitting entry to safe deposit boxes Payrolls have not been mpde up pending word from the Federal Reserve system With normal resumption of bank ing postponed temporarily by proclamation of President Roosevelt Philadelphia banks today met pay roll demands with crip nev scrip certificates Emergency demands for relief of distress and payment for iced and perishables were paid out with scrip and cash under a previousrul ing of Secretary of the Treasury Woodin About onefifth ofthe551250000 worth of certificates ordered all ne gotiable in the Philadelphia district at was recsivcd and dis tributed member banks of the Clearing House Association before ths opsning hour today At the same time banks ware re plsciuj la thir vaults hun dradsJcI thousands of dollars released by George Con lamed on Page Eighteen GEHRIG SIGNS BUT RUTH IS HOLDOUT NEW YORK March Lou Gehrig Yankee first baseman has settled his financial difficulties with the Yankee club and has signed a contract for one year with the world champions The contract was signed following a conference with Ed Barrow busi ness manager of the club last night and Lou will leave fbr training camp tomorrow His signing leaves Babe Ruth the only Yankee holdout and the Babe probably will be brought into line by Col Ruppert when the Colonel arrives at camp early next week While no terms were announced it is understood that a compromise figure was reached between Gehrig and Barrow and Lou attached his signature with a smile SHERIFFS SALES ARE POSTPONED Sheriffs sales scheduled for tomor row and also for Saturday March 25 will be held over to April 1 This morning Attorney William C Alexander solicitor for Sheriff John J King presented a petition in the county courts asking that the sales be postponed to April 1 The petition was approved and signed by Judges Fronefield and Broomall This petition was drawn up in ac cordance with the legislative ruling signed by Governor Pinchpt on Wednesday evening and which au thorizes the Common Pleas Courts of the Court will grant the requested sheriff It is expected at Media that t heCourt will grant the requested permission today XI S TREASURY BALANCE WASHINGTON March balance as of March 8 expenditures 50357 Customs receipts HORSES WITHDRAWN FROM RACES TODAY drifted Press WASHINGTON March Acting to speed President Roosevelts demands for authority to cut veterans expenditures and Federal salaries the House today adopted a resolution creating a special select committee co deal with the legislation The action came immediately after reading of the Presidential message was completed and was adopted with out a record vote despite the protests of some members who have been ac tive in the cash bonus battles of the past sessions March CUP President Roosevelt continuing his drive for big stick authority to deal with the national emergency today asked Congress to grant him the powers of a dictator for a drastic retrenchment of government ex penses The President proposed to attack an accumulated deficit of B by l7Reduction in payments to wax veterans of the furlough plan re ducing government salaries and sub stitution of a broader plan for re ductions in pay of both civil and military employes The program would reduce govern ment expenses by about Mr Roosevelt asked that his pro posed legislation be put into effect at once without evsn waiting for the beginning of the next fiscal year He assured Congress that if this were done there is reasonable prospect that within a year the income of the government will be sufficient to cover the expenditures of the government balanced budget The message was the Presidents second in two days He next will propose in keeping with his pledge Theirs a monumental task at a critical moment in the nations affairs new members of the seventythird were sworn in at tlie start of the special session which President Roosevelt called to pass emergency legislation Congress arc pictured above as they Merchants Division of C of C to Urge Coun cil to Pass Ordinance Continued on Page Eighteen CLOUDY COLDER WEATHER FOR AREA Mostly cloudy and colder is the pre diction today in Eastern Pennsyl vania New Jersey Delaware and Maryland Light rain or snow is pos sible here today but it will be fail tomorrow The highest temuerature here yes terday was 52 degrees aV 2150 and the lowest was 41 at 6 a m The average of 46 was eight degrees above normal for the date and twenty7three degrees above the average March o last year Maximum temperature for the date is 69 established in 1921 and minimum 16 in 1929 Sunrise today was at G20 a m and sunset will be at 602 p m Eastern Standard time ENTERTAINMENT FOR THE ODD FELLOWS Odd Fellows willhe guests at an entertainment to be given by the members of the P M and U Club in Odd Fellows Temple Eighth and Sproul streets tomorrow evening The entertainment will mark the close of a six months program for lodges in the county OddFellows families and friends have been invited to attend Arrangements have been made to have a group of officers of the grand lodge and of the grand encampment present in observance of Odd Fel lows Delaware County Night BILL GUARANTEES TIME BANK DEPOSITS WASHINGTON March Senator Vandenberg Repn Mich today introduced a bill for guarantee of time deposits in banks Senator Dill Dem Wash imme diately reintroduced his bill to provide for checking accounts up to the Postal Savings System WASHINGTON March UP A bill providing for in federal loans toredistribute industrial population by encouraging return to the land was introduced today by Senator Bankhead Dem Ala LONDON March rangements have been completed for former Crown Prince Wilhem of Germany to visit London during the Easter holidays the London Daily Herald said today POLICE CHIEFS TO MEET A regular meeting of the Chester Pike Chiefs of Police Association will be held next Thursday evening in the meeting room of police headquar ters at Lansdowne The buying public in this city will be protected from gyp sales in the future provided an ordinaries drafted by the Merchants Division of the Delaware County Chamber of Com merce is accspted and passed by City Council The ordinance aimed at those who specialize in socalled fire sales bankrupt sales closing out sales and other sales will conipol persons planning sxich sales to fib an inven tory of the stock they wirh to dispose of with the City Clerk takingan affidavit to Lhis effect before they can obtain a rpocial license to conduct such sale It is common knowledge thatdur ing past ysars cheap merchandise has been brought into tiiiscaty arid sod urider trie guiseof a special forcsd sale Many times such goodsare the property of some bankrupt in another city and the sale continues inde finitely The new ordinance would specify a times limit for such sales One case in particular was cited by a merchant this morning It hap pened in a Market street store some few years ago A small rubbish fire was found outside a rear window of Continued Oil Page Eighteen HIGH WINDS PLAY HAYOC WITH SIGNS FEDERAL RESERVE BANKS TO APPLY FOR LICENSE WASHINGTON March of Treasury Woodin today said an executive order or regulation will be issued shortly directing allbanks of the Federal Reserve system desiring to reopen for the performance of all usual and normal banking func tion except as otherwise prohibited to apply for a license to the Secretary of the Treasury Applications are to be filed with the Federal Reserve Bank in the appropriate district Woodin said EMMTY PLAN BILL BANKS OFNA TION STILL CLOSED BY ROOSEVELT EDICT President Issues Proclamation Extending day With No Definite Time Set for Opening of Sound Institutions May Get tion Order Saturday or Monday Continue to Perform Limited Functions Emergency Act Rushed Through Congress Giving Executive Dictatorial Power Yesterdays high winds didminor damage in the residential sections of the city where the more open ground j enabled the blasts to gain velocity Many small real estate signs and store signs were reported blown down and some old fences which had become rotted at thsir fastenings were blown over Tho streets were cluttered with broken tree limbs and other debris At the side porch of the Dsshong Mansion in the park a large glass panel and screened side partition of the porch was blown out during the afternoon and while theframe was slightly damaged the screening pre vented the glass from being broken The partition was twenty feet wide and about fifteen feet in height FORMULATE PLANS FOR PT MEETING A meeting of the executive com mittee of the DeweyMann Parent Teachers Association was held in the school building at Third and Jeffrey streets yesterday afternoon when plans were formulated for the next regular session of the body The guest speaker will be William H Krell principal of the Franklin Grammar School Mrs William J McDowell presi dent presented a report of the num ber of names that have been placed on tho petition now in circulation for the building ofa1junior high school in the West End It will be presented to the school board in the near future US SENATE RECESSES WASHINGTON Search Senate recessed today aftil hearing President Roosevelts budgo message The recess is effective un til noon tornorrow Him for Assassination of Mayor Cermak Chicago MIAMI Fla March Giuseppi Zangara assassin of Mayor Anton J Csrmak of Chicago today was sentenced to death in the electric chair The 36yearold bricklayer who re peatedly expressed regret that the shot which fatally wounded Cermak on February 15 failed to kill Presi dent Roosevelt was sentenced shortly before the Chicago mayors funeral in his own city He had pleaded guilty in proceed ings yesterday before Judge Uly O Thompson who imposed sentence Zangara declaring his hatred for presidents and kings fired a volley of shots at Mr Roosevelt when the then Presidentelect returned to Miami from a vacation cruise last month Five persons were wounded but the Presidentelect escaped Of the five only Cermak and Mrs Joseph H Gill of Miami were seri ously injured Mrs Gill is still in the Jackson Memorial Hospital where Cermak died after a valiant nineteen day fight to live but physicians have strong hopes for her recovery Judge Thompson ordered Zangars Continued on Page Eighteen TATTERED CLOTHES HELD CASH POMONA Cal March Although his clothing was tattered it contained 526000 in cash 000 in securities when John W Mat tox 73 collapsed in a bus station Spectrum Given Highest Awardin Class by Scho lastic Press Association The Spectrum Chester High Schools magazine gained national honors when it was awarded first place among the senior high school magazines with a school enrollment of more than 1500 at the ninth an nual convention of the Columbia Scholastic Press Association begin ning yesterday at Columbia Univer sity New York City The gradings according to the merits of more than 1000 publica tions of elementary and secondary schools throughout the United States and its territorial possessions were announced yesterday Entries were from air parts of the United States and its possessions among them being two publications from Alaska and two from Hawaii Many of the schools entering publi cations were represented by delegates to the convention more than 1000 delegates being in attendance The Spectrum in gaining the honor of first place in tho top division ranks with publications from some of the leading schools in he country including high schools in New York Continued on Pape Eighteen EMERGENCY OPERATIONS Mrs Elizabeth Filler of 14 Elbon road Chester and Ralph Baker Jr of 1811 Boothwyn road Boothwyh wereadmitted to the Taylor Hospital Ridley Park for emergency opera tions CALLING OFF WAR ON SPEAKEASIES AT HAVANA lionc Belles Last Mae Price Runaway Kid Innisfail Tryor LightfcoL JBon Boh Matic Handles Pen dulum Foxcy Burt Evicted Ask Torch Flaherty Abduction Surly Damocles Buster B Brown Emma Black Darling Smiling Moon Chinan Fair Atina Annete BY Belle Elmer H Croissar tanisi Lady Kay Bcc Jay Fair Vagary Joe Adams Sigmal Blow Fly Mendell Griffin Text of Proclamatioii by Roosevelt AT HIALEAH PARK Kenneally CHief A Byphar Go Yonder Wise MoIIie Queen Tiny Wrack First One Fprtune Bay Oriley IVIudraker vV I Weather clear track fact Continuing ankin Holiday WASHINGTON March The full text of the proclamation issued last night by President Roosevelt follows Whereas on March 6 19331 Franklin p Roosevelt President of the United States of America by proclamation declared the existence of national emergency and proclaimed a bank holiday extending from Monday the 6th day of March to Thursday the day of March 1933 both dates inclusive in order to prevent the export hoarding or earmarking of gold or silver coin or bullion or currency or speculation in foreign exchange and Whereas under the Act of March 9 1033 ail proclamations here tofore or hereafter issued by the President pursuant to the authority conferred by Section 5 b of the Act of October 5 1917 as amended are approved and confirmed and Whereas said national emergency still continues and it is neces sary to take further measures extending March 9 1933 in order to accomplish such purposes V Now therefore I Franklin D Roosevelt President of the United States of America in view of such continuing national emergency and by virtue of the authority vested in me by Section 5 b of the Act of October 6 1917 40 Stat L411J as amended by the act bf March 9 1933 do hereby proclaim order direct and declare that all the terms and provisions of said proclamation jof March 6 1933and the tions and orders issued thcrrjunder are hereby continued in full force and effect until further proclamation by the President1 Senator Proposes Fund to Bay Depositors When Banks Fail WASHINGTON March startling proposal for indemnifi cation of depositors in of the Federal Reserve system was made today by Senator William Gibbs McAdoo ot California a former Secretary of the Treasury in a bill in troduced in the Senate McAdoo include other non member banks in the plan in event they complied with requirements to be prescribed by the Federal Reserve Board The bill would establish a de positors indemnity fund which would be used to pay depositors promptly when member banks failed or suspended It was referred to the Senate banking and currency commit tee billwas one three in troduced for the relief of situation Senator Vandenborg Rof Mich igan reintroduccd his bill providing for a guarantee of time deposits in national and statebanks It would set up conditions under which tho Federal Government would guarantee tho time deposits Senator Dill D of Washington also rcintrorluccd iis measure call ing for opening of checking accounts Continued on Papc Eighteen BILU McKNIFFTMEDIA BOY IS UNDER BAN Penns hope to establish a new worlds record in the 4milc relay to morrow in Buffalo received a jolt last night when it was learned that Bill McKnifT was suspended indefi nitely by the Philadelphia A A U McKnifT noted Media athlete was barred from all A A U meets for participation in an unsanctioned event last summer The meet m Buffalo Is a championship affair sponsored by the Niagara A A U is still a chance that Mc KnifT may participate however He has to apply for a reinstatement and his friends are endeavoring to get the A A U to hold a special meet ing some time today to temporarily mnstatc the former West Catholic High runner SUN CO EMPLOYES GET PAY IN CASH Sun Oil Company employes at Mar cus Hook were paid off in cash yes terday The Ford Motor Company paid off in checks as is the custom These checks were cashed at the plant office for the convenience of the workers Nearly2000 employes at the Ford plant a vailed themselves of the op portunity to convert their checks into cash enty Senators Vote For 7 Against Measure Highlights in the banking situation today Presidrnt Roosevelt extends bank holiday indefinitely Predic tions are that sound banks will be functioningnormally by Monday Somi expected to reopen tomorrow Some localities nro using scrip while others await further action from Washington President draCts message to Congress asking for power to cut vetovans compensation and to slash salaries up to 15 per cent Ex ccuuve atao plans huge public works program with initial bond issue ol oOO millions to start work Tho Federal Government hurripcl an investigation of all banking institutions to dctormino thosewhich are sound enough to reopen Extension of the hank holiday indefinitely by Presidential procla mution was for two purposes n To investiffato the condition of the Inuiksj and h to permit tho sound banks to clear away the mountain ot untumhod business piled up during the holiday in order to be ready for reopening The New York Clearing House has begun clearing checks frozen m transit at tho start of the holiday Gold hoarders inspired by fear of punishment were metal hack into the Federal Reserve hanks of every district and into their own bank In New York was returned in four days CA on Government is printing new currency at the rate of a flay Unnflkial transactions abroad showed only a slight depreciation in the Amoncan dollar WASHINGTON March delay today postponed bank reopeningsuntil tomorrow at the earliest President Roosevelt issued a proclamation late last night extending the banking holiday and the goldembargo indefinitely Until the Treasury grants permission banks can per form only the limited functions previously authorized Treasury officials encountereddifficulties in preparations for im mediately reopening banks under the emergency act which was rushed through Congress and signed by Mr Roosevelt last night They Lad expected to begin opening banks today The law gave tha President dictatorial power over banks and provided for hundreds of millions of new currency Shortly after midnight Secretary of Treasury Woodm announced no vcopenmgs he authorized before Saturday It is obvious that it will not passible tdactUpori all of the appli Text of Roosevelt Budget Message ONE OF VOLUNTEERS Scallon a member of Good Will Fire Company No 2 re sponded to a call from the Chester for blood to be used In a tranrrfusion operation neces sary in the case or Robert Newdecker of Media who Is suffering from mastolditls WASHINGTON March 10 Following iv President Roosevelts budget message to Congress today The nation is deeply gratified by I he Immediate response given yester day by the Congress to the necessity for drastic action to restore and Im prove our banking system A like necessity exists with respect to the finances of the govcinmcnt itself which requires equally courage ous frank and prompt action For three lonpr years tho Federal government has been on the road to ward bankruptcy For tho fiscal year 1931 the deficit was For the fiscal year 1933 it For the fiscal year It will probably exceed For the flscnl year 1934 based on the appropriation bills passed by the last Congress and the estimated rev enues the deficit will probably ex ceed unless immediate action is taken Thus wo shall have piled up an accumulated deficit of With the utmost seriousness I point out to the Congress the pro found effect of this fact upon our national economy It hascontributed to the recent collapse of our banking structure It has accentuated the stagnation of the economic life of our proplr Ti hns added to the ranks Of the unemployed Our governments house is not in order and for many reasons no effective action has been taken to restore It to order Upon the unimpaired credit of the United Statesgovernment rest the safety ol deposits the security of in surance policies the activity ofin dustrial the value of our agricultural products and the avail ability of employment The credit of the Unitecl States government defi nitely affects these fundamental human values It therefore becomes our first concern to make secure the foundation National recovery de pends upnn it Too often in rcccnfc history lib eral governments have been wrecked on rocks of loose fiscal policy We must avoid this danger It is too iate for a leisurely ap proach to this problem We must not wait to act several months hence The emergency is accentuated by the npccssity of meeting great refunding operations this spring Wo must move with adirect and Continued on Eighteen Prinafial Provisions in Emergency Banking Act A significant turning point in enforcement was reached when Colonel Amos orders to agrents that their efforts hersaflsr arc to be dirccfedl chiefly to sources cf Hquor snppjy land not tptipcafcsasfe Jones azsictarit clircctcr and standing leJI to Randolph CShaw chief counsel and L A Tirigg chief field officer u WASHINGTON March are the Emergency Banking hills principal provisions TITLE ONE Approves and confirms all previous proclamations and orders of President Roosevelt and Secretary Woodin Invests in President Rposevelt and makes applicable to peace time emergencies the tremendous World War powers of regulation over transactions In credit cur rency gold and silver Including foreign exchange Maximum penalties for viola tors are fine and 10 years imprisonment Empowers Secretary Woodin to require delivery at the Treas uryOf all gold and gold certifi cates held rby anybody in the country Authorizes President Roosevelt without invoking the war pow ers to fix restrictions on the banking business of Federal Re serve members f TITLE TWO Authorizes the Comptroller of the Currency to appoint a con servator for any national bank or District of Columbia bank whenever he considers it neces sary to conserve the banks as sets Enables the conservator to set aside for withdrawal by deposi tors on a rateable basis such amounts as the Comptroller says may be used so safely Permits the Comptroller to al low banks under conservators to receive new deposits which would cations even by Saturday he added Inviting the banks to askpermission immediately to reopen j When the banks open tinder tha new law Woodin said they will be placed in a position to meet all de The delay in jeopenings was due to two causes 1 Checking the condition of banks to determine which should lie opened up at once is takingi more time than was anticipated 2 Time is being alloived for staic j hanks to join the Federal Reserve I system in order to obtain tho bencfitsKrantcd under emergency legislation which makes it easier to obtain new money Meantime the Government Engrav ing Bureau here was running off money at the rate of a day to supply banks when they re open v Washington pul in one of its most active peacetime nights At 825 p m the emergency bill reached the White House It had been passed by Congress with record speed after a short emphatic mes sage from President Roosevelt Fif teen minutes iater the President sur rounded by his family and a few friends signed the mo Cnmtinued on Eighteen of Ti mes Assassin Zangara has remained cool since his arrest but we bet this trip to electric chair will make him hot Prohibition agents have been in structed not to raid speakeasies The poor success they had youd have thought they would have quit years ago A Jot of persons stopped doing cer tain things during Lent but so far it seems that everyone has stopped cashing checks TA county woman claims her dead husbande ghost came back to haunt property she sold One hubby who dares spook without being spoken to This country will soon come out on top if as many people talk about cooperation as they do about their operation The present financial crisis has been compared to a war Well be ing broke is just what Sherman said war Is While bankers hate to see bandits enter their institution they also fear depositors who are quick on the draw pipes Colonel Jeems A certain group of county battlers were unable to get their ap paratus started the other night be cause there was no gas around tho firehouse Ample proof that the fire men dont congregate in the firehouse The Weather WASHINGTON IVIarch for tonight and Saturday Eastern New York Eastern Penn sylvania Jfew Jersey Fair and colder tonight Saturday fair with slowly rising temperature Western Pennsylvania Fair continued cold tonight Saturday fair with rising1 temperature TODAYS TEMPERATURE Continued on Eighteen 6 a m 7 a m 3 a m D a m 10 a mJ 32 11 a m 34 Noon 32 a p m 30 2 p m 30 33 34 33 3S 1   

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