08 Mar 1933
Page 1
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Newspaper
Athens Messenger
Location
Athens, Ohio, United States of America
Date
Mar 08, 1933
Page
1
Governor and Ohio legislature enact emergency measures to issue government certificates in place of bank notes for salaries and state obligations. Certificates, supervised by the state treasurer, will be paid at face value from the Insurance, Retirement, and Compensation funds. Banks face loans and policy restrictions as the move seeks to ease payment burdens amid a bank holiday.
Fragmentary OCR notes describe proposed clearing house measures and federal reserve plans. References to banks, payrolls, easing funds, and district actions suggest ongoing discussions on monetary policy and bank liquidity.
A Beverly Hills letter praises Mayor Cermak for courage and devotion to family amid illness. It contrasts his sacrifice with Tom Walsh’s epitaph implying a stance against crookedness, urging readers to value a useful life. The note emphasizes admiration for resilience and integrity.
Columbus March 8 closing of Ohio's universities and colleges as a drastic budget measure was urged by Rep. C H Burk Democrat New London committee chair. He said drastic cuts are needed and he would support closing the state schools if necessary. He cited potential taxpayer savings of about 4 million dollars and warned most students could not return under current finances.
Governor White urged lawmakers to hold all taxation measures in abeyance until tax bases are clearer. A legislative recess and committee work plans are under consideration while a uniform scrip issuance plan awaits Washington guidance. Bank collateral may fund payrolls, state official says.
In Lima on March 8 the trial of Loren E. Truesdale 23 began with questioning of more than 50 state witnesses before a jury of one woman and 11 men. State chief witnesses include J F Cordrey Lima postal inspector D J Winters Columbus private detective and Orlo C Weaver Lima private detective who obtained a confession from Truesdale on Sept 1 1932.
Nation wide interest centers on Mortimer N. Buckner who holds limelight amid the bank crisis as experts weigh implications for finance and policy. The article notes Buckner’s prominent role and the mounting scrutiny from markets and lawmakers.
In Denver authorities charged Carl Pearce Arthur Youngberg Verne Sankey Gordon Elkhorn Ruth Kohler and Ruth Sankey with kidnapping Charles Boettcher II. Pearce Kohler and Sankey are jailed while Youngberg heads to Denver and fugitives Sankey Elkhorn are believed headed to Canada with most of a 60 000 ransom. Boettcher may be held 14 days at Sankey s ranch near Chamberlain South Dakota.
The Ward Bill raising bond issue approval for political subdivisions from 60 to 65 percent was pulled from the Senate Calendar and sent back to the Senate Taxation Committee. The House passed it after defeating an amendment to lower utility bond votes to 55 percent. Observers noted efforts to restore or let the measure die.
Gallipolis reports Freida Looff 42 of 847 South Eureka Avenue Columbus was killed Tuesday afternoon by husband Hillie Looff 40 over jealousy of a son by a former marriage. She was the only daughter of Frank Gemeinhardt janitor at Grace M E Church. Gemeinhardt moved to Gallipolis after her marriage. He left for Columbus Wednesday morning. The shooting was witnessed by Gemeinhardt’s daughter-in-law.
Coast Guards rescued seven men by boat today after the 50 foot two masted sailing smack Anna Ella was battered to pieces and swept ashore near Love Ladies Point twelve miles north of Beach Haven New Jersey.
In New York, meat and sugar prices swing as wholesalers hedge on six day shipments and demand stays volatile. Sugar suggests shortages while refiners cap orders, and diamonds jump as merchants pull stock amid unsettled exchange rates and platinum climbs.
After five days of marching the main force of the Japanese army entered Lingyuan Lingyuan Lingyuan with armored tanks on the hills. Chinese resistance lasted two hours then ceased as natives resumed trade. Missionary Harriet Minns of Buffalo N Y was unharmed during the hostilities.
In Columbus on March 8 the Legislature paused plans to recess after talks with Governor White and legislative leaders. Lt. Governor Charles Sawyer urged public officials to stay on the job and ready to meet emergencies.
The Ohio Senate approved the Mosier bill by 25 to 4 with one amendment to create machinery for a state prohibition convention. Delegates would be elected at large, 52 to vote on ratification of federal repeal. Governor White may call delegate elections at the November general election.
New York March 8 The Federal Reserve Bank began a national drive to recapture gold after authorization to resume rediscounts and currency payments to member banks Banks must prove cooperation with emergency regulations and turn over their gold stocks to back possible new currency The Woodin orders caused banks to open and close repeatedly as banks interpreted the new rules with less uncertainty today
Foreign Minister Yasuya Uchida told a cabinet meeting that Japan's formal resignation from the League of Nations is not yet finished. He urged Britain to lift the embargo on arms shipments to Japan and China imposed the previous week as the foreign situation was discussed.
Hollywood reports a 50 percent weekly salary cut for all above zero as eight week measure to avoid a four week plus film industry shutdown during the banking holiday. The move was ordered by the Association of Motion Picture Producers with Academy backing. Fox studios also halted productions and notified employees of a salary holiday. Pay at Paramount Warner Brothers Columbia and R K O was due but expected no regular checks today.
Governor White told Kenneth C. Ray Athens County school superintendent that the Lloyd Mathews Jones bill as amended by the Ohio House will be passed to provide salaries for teachers and other school employees and to cover school debts. Ray led a Morgan County delegation to press the case and warned of mass school closings if funds do not arrive.
Gov Henry Horner's proclamation keeps Illinois banks closed at least until Friday. Banks will provide credit for shipping foodstuffs hospital supplies and public relief as authorized by Secretary Woodin in efforts to check rising commodity prices. Meat prices rose 20 percent week over week while eggs jumped to 10 cents and butter gained a half cent.
With Nazi triumphs the old imperial Germany flag flies over public buildings across hundreds of German towns and cities. A detachment of Nationalist youths draped the flag over landmarks including the Brandenburg Gate in Berlin, often with the Swastika displayed.
The initiated old age pension bill was before Ohio's House of Representatives for final action. Business groups led opposition from the Ohio Chamber of Commerce and the Ohio Manufacturers' Association, with expected defeat. Financing was estimated at 5 to 14 million dollars yearly, offering up to 300 dollars annually to eligible persons age 65 and older.
Elliott Roosevelt, 22 and son of the President, will head to Arizona to become a rancher and cattleman. He resigned from a New York advertising job amid offers, plans to settle near Tucson, and will be joined by his wife Betty and their baby after establishing a home with friend Ralph Hitchcock accompanying him by rail and motor toward the West.
In Jehol and Manchuria March reports say Japanese forces pressed Chinese troops behind the Great Wall with bombings along a frontier from Shan Kaikwan to Kupkow. Heavy Chinese casualties and frostbite among Japanese soldiers were noted amid harsh cold. Tang Yu-Lin, former Chinese governor of Jehol, was executed at Hissongkou on orders from Chinese officers.
Toledo March officials and financiers heard Judge James S Martin condemn professional bank claim buyers who prey on depositors forced to sell accounts for necessities. He urged strict State Securities Division supervision and licensed brokers for all claim dealings with license revocation for unfair trading.
In San Francisco Doro thy Ellingson 16 killed her mother to go dancing. She served years in San Quentin, released a year ago, then accused of grand theft. She reportedly attempted suicide by gas and prosecutors plan to return her to San Quentin. A separate Daytona Beach note describes a laborer failing to cash a Rockefeller check despite groceries.
The Roosevelt administration abandons scrip and relies on Federal Reserve notes to relieve currency shortages. Treasury Secretary Woodin says reserves and gold backing allow a USD 2.99 billion expansion, with 62 percent gold backing now. Roosevelt may seek limited guarantees for bank deposits as Congress convenes.
Ohio Council of Retail Merchants issued a statement approving state scrip for payment of state employees contractors and government obligations. Merchants of any size in cities or villages may accept the certificates at full face value as funds are released and redeemed by the state.
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