Plan for Liquidity Release at Two Banks Receives Backing
Verone Marshall reports on a plan endorsed by American Trust Wings Bank and Co vings Bank and Trust to liquidate and release deposits. The agreement aims to free up to 1.5 million dollars in cash, with funds to be obtained via construction finance and assets of banks. The plan seeks to release a substantial portion of frozen deposits within seven months, prioritizing depositor interests and maintaining bank reputations while awaiting federal and state approvals.
Priest Accuses Three Bank Officials in Detroit Bank Case
Rev. Charles E. Coughlin testified before a Detroit bank jury charging three former bank officials as unlikely to escape federal indictment. He accused Detroit Bankers Co and Stair of faking records and misleading stockholders while alleging misstatements about First National Bank assets. He also attacked the Detroit Free Press for publishing altered records linking him to church funds.
MENTIONED IN THIS ARTICLE
Detroit
Charles E. Coughlin
Detroit Free Press
Keidan
Free Press
Stair
Detroit Bankers, Company
First National Bank
Peter J. Monaghan
Wilson W. Mills
First National
Detroit Bankers Company
The
Detroit Looter’s Company
Allot 14 Million For Missouri River Channel
The Public Works Administration allotted 14 153 108 dollars for completing the six foot Missouri River channel from Kansas City Missouri to Sioux City Iowa. The plan will provide immediate work for about 8 000 men with roughly two million dollars spent between Kansas City and St Joseph and the rest between St Joseph and Sioux City near Nodaway White Cloud Rule Tarkio Corning Nebraska City Plattsmouth Omaha Florence Dakota City Council Bluffs and Sioux City.
MENTIONED IN THIS ARTICLE
Washington
Public Works Administration
Kansas City
Sioux City
Missouri River
St. Joseph
Nodtaway
White Cloud
Kansas
Rule
Neb
Tarkle, Mo
Corning, Mo
Nebraska City
Plattsmouth
Omaha
Florence
Dakota City
Council Bluffs
Temperature 90 Degrees Reaches Cedar Rapids Area
The Cedar Rapids area records 90 degrees at 2 30 pm on Thursday as officials note a warm spell returning after days of cooler weather. Early forecasts show 80 at 9 am 83 at 10 and 88 at 1 30 pm with a 69 degree low at 7 am Wednesday.
MENTIONED IN THIS ARTICLE
Cedar Rapids
The
Mercury
Under direction and the balance of freedom and control
A 1933 essay argues direction is everywhere from education to the state. It warns that while wise direction serves the common good autocratic control is tyranny. It cites the navy army and traffic regulation as examples and urges self mastery alongside structured guidance.
MENTIONED IN THIS ARTICLE
Nra
Asz
Goethe
Federal Aid Proposed for Schools in Iowa Commencement
In YWCA City AP report Prof C H Judd of the University of Chicago urged federal financial help for public schools during convocation exercises closing Town University summer session. He called the school funding crisis graver than any prior fiscal emergency and accused officials of stealing from children to shield tax revenues. 228 degrees and six certificates were awarded. Regular classes begin Sept 25.
MENTIONED IN THIS ARTICLE
Yowa City
C. H. Judd
University of Chicago
University of Town
Cummings May Act on Gold Hoarders
Attorney General Cummings reports to President Roosevelt on plans to recover hundreds of millions in unlisted gold hoarded in the United States. He cites estimates up to 500 million and details 366 persons withholding 1.39 million, with many claiming the gold was distributed among relatives. He will take action after final checks.
MENTIONED IN THIS ARTICLE
Washington
Roosevelt
Cummings
Department of Justice
Roosevelt Directs Coal Men On Code In NRA Effort
President Roosevelt orders Hugh S. Johnson to press for a coal industry code under the NRA as auto industry work is put aside. Johnson commends public spirited operators and spokesmen and urges public patience while negotiations continue amid a nationwide wage and hours canvass by 1,500,000 volunteers.
MENTIONED IN THIS ARTICLE
Washington
Roosevelt
Hugh S. Johnson
Recovery Administration
Johnson
W. Lea
Pelle
Hearings Planned on Iowa Milk Dealings in Des Moines Quad-City Areas
Washington reports the Agricultural Adjustment Administration will hold hearings on August 29 in Washington on proposed milk marketing agreements for the Des Moines and Quad-City milk sheds with Dr. J. C. Gaumnetz leading dairying discussions. Additional hearings on the Omaha milk shed follow a week later. The talks cover trade agreements between distributors and producers, with hopes dairy farmers receive higher prices to prevent further milk strikes. The licensing requirement for processors and distributors faces doubt amid Chicago area litigation.
MENTIONED IN THIS ARTICLE
Gazette
Washington, D.C
Des Moines
Quad-City
Agricultural Adjustment Administration
J. C. Gaumnetz
Omaha
Jerry Mason
Iowa Milk Co-Operative
Charles Holman
National Co-operative Milk Producers
Haynes May Be Named Warden At Fort Madison
Des Moines AP The state board of control is expected to name Glenn C. Haynes of Des Moines as warden of the Fort Madison state penitentiary, succeeding ill Tom Hollowell who resigns Oct 1 after thirteen years in charge. Frazer of Anamosa also considered for warden of the men’s reformatory.
MENTIONED IN THIS ARTICLE
Des Moines
State Board of Control
Glenn C. Haynes
Fort Madison
W. H. Frazer
Anamosa
Haynes
Iowa Good Roads Association
Iowa
Tom P. Hollowell
Hollowell
Frazer
Emt
Jones County
Madison Steamer Reaches Norfolk After Severe Storm
The coastal steamer Madison, battered in a hurricane, arrived at Norfolk with superstructure torn, two sailors lost overboard, and passengers chained together for security. Captain William Heath praised for leadership as passengers recover from shock. Separately, the City of Norfolk, overdue from Baltimore, was located near Watts Island. all aboard reported safe.
MENTIONED IN THIS ARTICLE
Norfolk
Madison
William Heath
Coast Guard
Heath
Norfolk, Va
Baltimore
Watts Island
Maryland
Baltimore Naval Base
World corn eating title sought at Ortonville contest
North western contestants vied for the world corn eating championship in Ortonville Minnesota as thousands watched. George Bowman led with 23 ears eaten and predicted he would last until midnight while Ed Kottwitz, last year’s champion, trailed in second with strong finish potential. Louis Manders, brother of Jack Manders, stood third after three hours with 17 ears eaten.
MENTIONED IN THIS ARTICLE
Ortonville
Minn
George Bowman
New Odessa
Ed Kottwitz
Kottwitz
Comstock
West Billingham
Bill Meyer
Louis Manders
Minnesota
Jack Manders
Alarm grows in St Louis as 28 die in sleep sickness outbreak
Health officials declare a crisis in St Louis as sleep sickness kills 28 of 215 victims since July 3. Dr. J P Leake of the U S Public Health Service calls for rapid physician reporting and patient isolation, noting about 600 affected with many mild cases and unclear transmission.
MENTIONED IN THIS ARTICLE
ST. Louis
Joseph F. Bredeck
Bredeck
Ee Eee
East Leads West Early in All Star Football Game
The East led the West 7 to 0 after the first quarter at Soldier Field. Berry of Illinois connected on two passes and Horstmann of Purdue scored from eight yards. Manders of Minnesota added the extra point.
MENTIONED IN THIS ARTICLE
Chicago
Soldier Field
Berry
Illinois
Horstmann
Purdue
Manders
Minnesota
Inter-Ocean Co Declares Semiannual Dividend
The board of Inter-Ocean Co. ordered a regular semi annual dividend of 1 per share on 50 000 shares of Inter Ocean Reinsurance stock in a quarterly Cedar Rapids meeting at the Cedar Rapids Country Club. Most of the 850 000 to be distributed on Sept 30 will go to local persons, Roy E. Curray, president, said.
MENTIONED IN THIS ARTICLE
Cedar Rapids News
Inter-Ocean Reinsurance Company
Cedar Rapids Country Club
Roy E. Curray
Hog Slaughtering Program Started in Chicago Area
The government launched an experimental hog slaughtering drive to raise pork prices. About 30,000 pigs have been bought so far with a 40 day campaign expected to slaughter millions of hogs and sows. Purchases across Chicago Omaha Kansas City Sioux City St Paul and St Joseph markets include a $4 bonus for sows.
MENTIONED IN THIS ARTICLE
Chicago
Omaha
Kansas City
Sioux City
St. Paul
St. Joseph
New Danger in Kisses Hay Fever Warning
Chicago report notes a new peril of kissing as hay fever rises education experts warn that some face powders used by women may trigger reactions. The article suggests bold individuals may ignore the risk as in past behavior.
MENTIONED IN THIS ARTICLE
Chicago
Thursday Major League Results in a Rainy National League Night
National League action washed out in Pittsburgh at New York with two games affected by rain. Cincinnati lost to Brooklyn 8 to 6 in the first game as Derringer and Kolp worked for Brooklyn. In Chicago Philadelphia and Boston split, with Chicago taking the second game 6 to 3 and Philadelphia 8 to 6 in the first. St Louis defeated Philadelphia 7 to 6 in the nightcap, while St Louis beat Philadelphia 4 to 0 in another pairing. Multiple line scores show mixed results across the league as rain interrupted schedule.
MENTIONED IN THIS ARTICLE
Pittsburgh
New York
Liquidation plan proposed for Cedar Rapids banks
Depositors of American Trust and Savings and Cedar Rapids Savings Bank and Trust face liquidation under a new structure. Half of all deposits would be released immediately with the remainder paid as assets are liquidated. A Reconstruction Finance Corp stake is planned to back a $200000 capital base.
MENTIONED IN THIS ARTICLE
Cedar Rapids
American Trust and Savings Bank
Cedar Rapids Savings Bank and Trust Company
Reconstruction Finance Corporation
Linn County Opposes University of Iowa Hospital Quota
Linn County supervisors resist a new hospital admit quota saying it violates state law and would deny care to about 500 indigent residents. They warn the 1933-34 plan could cost more than 28000 dollars and strain the county poor fund, noting current demand already exceeds proposed admissions.
MENTIONED IN THIS ARTICLE
Linn County
University of Iowa
Robert E. Neff
Linn
Neff
Thomas B. Powell
Superior Court
University Hospitals
Five Women On Completed Jury In Lamson Case
A jury of seven men and five women was sworn to decide if David A. Lamson, 31, sales manager at Stanford University Press, murdered his wife Allene. The panel was completed late Thursday with the state seeking the death penalty.
MENTIONED IN THIS ARTICLE
San Jose
Calif
David A. Lamson
Allene
Stanford University
Press
Cedar Rapids Auto Toll This Year
A Cedar Rapids report details traffic tolls for the year including counts of accidents, injuries, and deaths. Data highlights trends in roadway safety and compares months to prior periods.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Plan to Merge Two Iowa Banks Into New Entity
A committee of directors from Cedar Rapids Savings Bank and American Trust and Savings bank outlines details for creating a new bank. The plan hinges on 75 percent depositor approval, Reconstruction Finance Corporation backing, and a decision on location and management. Deposits total about 5.05 million with RF C to lend at least 1.5 million. Receivers and timelines discussed with state banking department approval awaited.
MENTIONED IN THIS ARTICLE
State Banking Department
Reconstruction Finance Corporation
Robert 8. Sinclair
George, Laird
Charles Knox
Cedar Rapids Savings Bank and Trust Company
E. B. Cameron
W. R. Boyd
Lumir Severn
American Trust and Savings Bank
Iowa
Senate
Cedar Rapids Savings
American Trust
Reconstruction Finance’ Corporation
Banking Department
Cedar Ra
Des Moines
D. W. Bates
Also Mentioned on This Page
Verone Marshall
American Trust Wings Bank
Covings Bank and Trust
Tience
Ernest R. Moore
Ddie
Jon
Espec
Fed
R. F
Ate Banking Department
CH Bank
Eut
Reconstruction Corporation
Coughlin
Bankers Company
Fort. Madison
Joe Comstock
Fergus Falls
Inter-Ocean Co
New Danger
Jin
Cincinnati
Brooklyn
Derringer
Kolp
Lombardi
Munge
Lopes
Cee
Benton
Manion
Benge
Outen
Philadelphia
Bush and Hartnett
Holley and
Davis
Tinning
Herrmann
Campbell
Oor Pearce
Elliott
Collins
Dav
It. Louis
Mallshan
Wilson
Brandt
Hogan
Boston
Welch
Ferrell
Wyatt
Kimsey
Hard
Grube
Welland
Kline and
Miller
Faber
Heving
Grove
Walberg
Cochrané
Stiles
Hebert
Hemaley
St. Lewis
Cal Cain
Cochrane
Hadley
Hemsley
U.R. Savings
Amer. Trust
Supervisors ' Believe
Cedar Rapids - News
Lamson
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