05 Aug 1932
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 05, 1932
Page
1
The piece notes growing attention to a five day week and six hour day with Hoover reportedly favoring the idea and John Willys endorsing a five day week. It argues machinery created unemployment yet did not cause overproduction and urges helping people secure basics before selling goods.
Securities and commodities advanced on Friday with New York stocks leading gains as bulls held, profit-taking easing, and bonds dull. Wheat and other staples climbed while reports tied Eugene Meyer to a vast pool aiding credit for manufacturers. Three projects potentially sparked by Meyer included a large commodity pool, a housing project, and other coordinated relief efforts.
In Hastings Minnesota two men questioned in a jail office over a burglary seized a deputy sheriff pistol and killed him. Dewey Sharpe 33 St Paul captured near Langdon after a six hour chase. Harold Wilder 39 St Paul caught two hours later in a cornfield. Wilder admitted shooting Rudolph Fischer Dakota County deputy. Wilder facing extortion charge. Sharpe jailed on federal liquor charge with prior murder sentence.
Frederick J. McDaniel aged 27 son of Dr E B McDaniel Presbyterian medical missionary to Siam drowned in Lake Wah Wash Kes Ontario while vacationing with family. Believed canoe accident. Born in Petchavuri Siam and Park College graduate. Survived by two brothers and three sisters. mother predeceased him. Body to be brought home for funeral later.
A Burlington freight wreck near Fairfield killed Kenneth Pulley 17 of West Frankfort and an unidentified man from a work train transporting the injured to Ottumwa. Five others were seriously hurt and five more suffered minor injuries as derailments damaged 300 feet of track and disrupted service.
A six million dollar blaze destroyed the Quincy grain elevator and the Omaha Packing company complex in Chicago, injuring three firemen andforcing 30 firemen and workers to flee smoke. The fire consumed 800 hogs, 60 cattle, 200 sheep, 985000 bushels of grain, 2500000 pounds of hams and bacons, 300 tons of fertilizer, and 2500 hog carcasses, with three fire boats and sixty companies battling the flames. An explosion is suspected. over 30,000 spectators lined the streets as four blocks burned.
The veteran congressman Tilson of Connecticut announces he will not run again. He says he cannot save money on his $10,000 salary as his legitimate expenses use it up. He asks whether he has relatives who can help him build a $25,000 federal income for his family.
One of the Legionaries at Fort Dodge, Chris Beck from Cedar Rapids, spoke against the immediate bonus payment. Beck, a steel worker who had supported payment until recently, acknowledged he could use the money as friends described his changed position.
He heard arguments that another 2.4 billion dollars in bonds could threaten government credit, that RF C loans are solidly collateralized and not gifts, and that credit must be safe before any bonus payment proceeds, yet he opposed the bonus.
A sessional committee in Kansas City heard veterans discuss government hospitalization. Speakers cited that 75 percent of hospitalized veterans have disabilities with no war service connection and projected total VA spending of 21.5 billion dollars by 1945.
The writer cites Gen Hines of the Veterans Bureau saying the cost figures reveal a looming crisis. He asserts veterans and the public must recognize the warning before 1945, questioning what veterans associations are doing to protect the country now.
The Farm page reports the sale of farms near Columbus Junction by the Joint Stock Land Bank of Burlington. The bank rejected several low bids as preposterous and hinted at broader issues that merit attention in Washington.
Offshoots of federal farm support, joint stock land banks lent to farmers whose farms now face ruinous sale prices. The collateral value seems detached from real worth, raising questions how banks can sell assets so cheaply and still stay solvent.
The piece notes investors in joint stock land and bank bonds faced losses as banks repurchase bonds at deflated prices, sometimes under twenty, despite having relied on federal support making them appear sound.
The banks exploit bond profits at 100 and repurchases at 20 or less to absorb farm mortgage losses. They offload mortgaged farms at absurd acreage prices to a market that still yields profit on combined bond and mortgage trades.
The public should note that farms mortgaged to a joint stock land bank sell for prices often below improvements. The Columbus Junction auction is cited as a case, accusing banks of operating a gigantic racket that deserves federal attention.
A Des Moines man, George Olm Stead, president of the United States Junior Chamber of Commerce, proposes national election holidays and a $10 tax for eligible citizens who do not vote. He argues it is reasonable since many fail to vote and minority rule governs.
Justice of the peace S C Viles said he would not discuss the county board of supervisors demand that he file his last three quarterly reports within 20 days or face removal. He was in Des Moines at a convention and noted he had not received formal notification, adding he would speak after consulting the supervisors. He admitted he had not filed an annual report, noting a change in practice with G S Lightner.
One hundred fifty two cars carrying 3 to 10 bonus army members rolled out of Johnstown with full gas, oil, and a dollar per vehicle. The parade was led by H. P. Price of Henryetta Oklahoma and his wife and daughter rode along. About 1,000 men remained behind.
Mrs Victor Bruce and crew resume attempt to set an endurance flight record in an amphibian plane dubbed the flying bungalow. After a false start Monday due to electrical trouble, they took off again Friday afternoon with a radio operator aboard to continue the grueling voyage.
Cedar Rapids reported a moderate weather day with temperatures climbing from 65 at 6 am to a noon high around 84 and peaking near 90 on private thermometers. The day cooled to 80 by late afternoon and 68 at midnight with a downtrend after 2:30 pm.
Beginning August 7 The Gazette will add a color Sunday page for The Wil Letts Family known as Out Our Way. A new Sunday page Girls by Edgar Martin will replace Katzenjammers, plus Just Kids to debut. Wash Tubs moves to daily with Boots and Her Buddies by Martin.
Omaha officials doubt a reported confession in the murder of Harry H. Lapidus, a wealthy manufacturer-politician slain December 22. John Toth, an ex-con, said Lapidus was killed by abductors. his tale, naming four gang members, drew partial corroboration from Mary Smith Elmore Schuster. However Nebraska officials and the U S district attorney voiced skepticism, calling the story hollow while stressing unresolved leads and motives tied to gang activity.
Harold Milbrath of 1423 B Avenue NE reported being slugged in a car while en route on C Street SW near Bowling Street. Two men asked for directions, then attacked him, leaving him unconscious for minutes and stealing $15 from his wallet. He recalls a nearby 1929 Ford sedan but could not identify the attackers.
In La Paz thousands marched through the streets demanding full action against Paraguay in the Chaco. Protestors filled government fronts all night opposing arbitration plans from nine neutral Pan American nations.
As the campaign begins, personalities dominate talk. Farley accuses Hoover of incompetence while Republicans charge Roosevelt with deceit and ignorance. Both sides rally their machinery amid stock market activity and the bonus army eviction as they prepare for August 11 acceptance and potential Walker case debates.
Beverly Hills reminiscence notes Roy Chapin entering a new cabinet post and facing a 15 percent salary cut. The writer jokes about good men willing to work for low pay and laments bicycle and Ford-related woes during hard times. Autographs are hoped to offer relief.
Berlin reports say President Hindenburg prepared to act forcefully to end six weeks of riots led by Hitler's National Socialist groups. Goering met with Neurath amid cabinet talks on new power roles while casualties exceed 130 dead and over 1,000 injured.
The Cedar Rapids Chamber of Commerce will pursue a portion of Iowa's federal highway appropriation of 3 175 000 for Linn county. Charles D. Manson said Friday a special delegation will confer with the state highway commission to secure local work for unemployed and to improve nearby highways.
Burglars robbed the Gillett Grove Trust and Savings bank of about 3000 dollars Thursday night. They used an acetylene torch on the vault while tear gas released automatically, masked to avoid fumes. The crime was discovered by cashier G W Hargrave Friday morning as bandits cut telephone lines to aid their escape.
Mrs. L. B. Hula of 121 1th St. NE. quickly sold a dining room suite and rug after responding to a Gazette Want Ad. Twenty four people answered the ad showing strong cash demand for home furnishings. Call 2-1121 to place your ad and attract buyers.
Alfred Holman father of Libby Holman Reynolds arrived in Winston-Salem to ask Judge A M Stack to set bail for Mrs Reynolds indicted yesterday with Ab Walker in connection with the death of Smith Reynolds. Holman declined to reveal Libby’s whereabouts and denied the indictment as a frameup.
Winston Salem AP widow Libby Holman Reynolds and Albert Walker are indicted by a grand jury as the parties unknown in the death of 20 year old flyer Smith Reynolds. The murder charge, likely first degree, carries potential death by electric chair. Walker is held incommunicado after arrest. Libby Reynolds faces fugitive status. The shooting followed a July 5 party at the Reynolds estate.
Pasadena AP George Olmstead of Des Moines president of the United States Junior Chamber of Commerce appointed an eight man committee to draft resolutions for the annual convention. A proposal to levy a $10 tax on all eligible voters who do not vote on election day was presented along with a proposal to make national election day a legal holiday.
In Chicago Grant Park, artists opened the first open air art exchange offering oil landscapes and other works in barter for groceries, clothing, rent, or a pound of butter, potatoes, or a pair of shoes. The informal mart invites locals to swap art for essentials.
United States Senator William E Borah of Idaho underwent a general physical examination at Mayo Clinic on Friday and was pronounced in fine condition by the physicians. The report notes Borah’s health status during a routine medical check.
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