Cedar Rapids banks discuss state management plan amid rumors
Four Cedar Rapids banks adopted the state management law to protect depositors and assets. Two banks that did not take aid remain strong and liquid, inviting withdrawals if needed. Officials emphasize no guaranteed deposits and no interest on state managed deposits, and warn rumors of asset dissipation are false. The piece totals regional deposit figures and local wealth estimates to illustrate the banking landscape.
MENTIONED IN THIS ARTICLE
Lfts
Cedar Rapids
Iowa
Merchants and Peoples Ready With the Cash
Banks in Cedar Rapids report a easing of withdrawal pressure after Iowa’s new banking law allowed continued operation under state supervision. Depositors at Merchants National and Peoples Savings received funds promptly on request, with lines forming then fading as the day progressed. Both banks advertised readiness to pay out, while officials explained the law permits new commercial deposits with cash retention and no state guarantee.
MENTIONED IN THIS ARTICLE
Merchants National
Peoples Savings Banks
Cedar Rapids
State Banking Department
Merchants National and Peoples Savings Banks
Iowa
Merchants Or
Peoples Bank
Merchants and Peoples Banks
The
Gazette
Peoples Savings
S. E. Coquillette
State Department of Banking
Calves Shipped to Chicago Trigger $1.98 Bill
MC Egor of Egor Township reports that August Werger sent five calves to Chicago and instead of payment received a $1.98 bill. The charge covered freight feed and commission, exceeding the veal value.
MENTIONED IN THIS ARTICLE
the Gazette
MC Egor
August Werger
Chicago
Senate Defers Action On Iowa Audit Measure
In Des Moines the Iowa Senate delayed action on repealing the independent state institutions audit after Senator Frank C. Byers urged its benefits. The 40 to 5 deferral followed House hesitation, with committee hearings planned to review the audit's advantages and a cheaper continuation likely.
MENTIONED IN THIS ARTICLE
Des Moines
Senate
Frank C. Byers
Cedar Rapids
E. R. Hicklin
Tax Reduction Committee
Byers
House
D. R. McCreery
Linn County
University of Iowa
Farmers Halt Cattle Shipment in Rent Dispute near Center Point
About 200 farmers gathered in Center Point to stop a cattle truck bound for market from the O. E. Abbee farm tenanted by Ed Phillips. Sheriff Petrus ordered the cattle back to the farm and a rent suit of 716.71 dollars was settled by stipulation before Judge H. C Ring, with attachment dismissed and property released.
MENTIONED IN THIS ARTICLE
Center Point
O. E. Abbee
Ed Phillips
Abbee
A. M. Lampman
Shellsburg
Joseph Petrus
Jay Davis
Phillips
H. C Ring
Early hearing promised on 1.5 billion emergency farm credit bill
The Senate Banking Committee will hold open hearings soon on the 1.5 billion emergency farm credit measure sponsored by Senator Robinson. Dairymen, creameries, and livestock groups voiced objections at a Senate Agriculture hearing, while a key amendment would tax oleomargarine to raise prices equivalently.
MENTIONED IN THIS ARTICLE
Washington
Senate Banking Committee
Robinson
Arkansas
Roosevelt
Congress
Banking Committee
Norbeck
House
Senate Agriculture Committee
Charles W. Holman
National Co-operative Milk Producers Federation
Senate Committee On
Wenner
Hicklin
Britain aims to use tariffs as bargaining tool with US
British opinion holds wage of trade talks could see concessions for US debt relief. Ottawa empire rules do not block new bilateral trade with the United States. Chamberlain notes 20 nations at the doorstep. talks with five are active. Anglo American bargains depend on mutual gains.
MENTIONED IN THIS ARTICLE
Frank FR. King
London
England
United States
Ottawa
Empire
Great Britain
Neville Chamberlain
America
Chamberlain
Chanicellor
Unite States
Dominions
Model Boy Freed Of Slaying Policeman
In Chicago a 17 year old once sentenced to eighteen years for killing a policeman was found not guilty after fate shifted. The youth, Varney Corry, was acquitted Thursday night, ending the charged case.
MENTIONED IN THIS ARTICLE
Chicago
Varney Corry
Rock Island Slayer Suspect Evades Texas Police
Abilene Texas police pursued Maurice Meyer a Rock Island NL suspect in the death of Rose Gendler Davenport Iowa. The man claimed to be R G Martin and fled a hotel after questioning. A car in his possession matched a reported Illinois missing vehicle. Gendler’s body was found in a burlap bag on the Rock River ice.
MENTIONED IN THIS ARTICLE
Abilene
Tex
Maurice Meyer
Rock Island
Rose Gendler
Davenport
R. G. Martin
Illinois
Rock River
Meyer
Illnois
Bill Demands Publicity On All Tax Returns
Senator Norbeck introduces a bill requiring public access to all income, war and excess profits tax returns. He states the measure is prompted by the stock exchange investigation and asserts widespread tax dodging would be harder if records were public.
MENTIONED IN THIS ARTICLE
Washington
Norbeck
Rep. S. D
Stock Exchange
Senate Banking Committee
Farmer Gets Life For Killing Farmer
West Branch farmer Sam Wilkerson was sentenced to life imprisonment after being convicted of killing loan broker Isaac Hemmingway and burying the body in a field. Hemmingway, a native of West Branch Iowa, was Wilkersons creditor. Wilkersons wife faces trial set for February. defense sought venue change and judge disqualified.
MENTIONED IN THIS ARTICLE
Oklahoma City
Sam Wilkerson
Wilkerson
Isaac Hemmingway
Hemmingway
West Branch
Half Billion Relief Bill Approved by Senate Panel
The Costigan La Follette bill would provide 500 million dollars for relief with 40 percent to be distributed to states as direct grants based on population and 60 percent set aside for emergency needs where funds are insufficient. Committee members plan to offer amendments before the full Senate considers the measure.
MENTIONED IN THIS ARTICLE
Washington
LLP
Senate Manufactures Committee
Senate
Inter-Ocean to Pay 70000 in Dividends to Stockholders
Inter-Ocean Reinsurance will pay 75000 in dividends by April 1 after a January board meeting. The Cedar Rapids based company, the largest fire reinsurer west of the Atlantic, declared a 5 percent extra dividend plus a 10 percent regular semiannual dividend. Record dates are January 25 and March 14 with payments on January 31 and March 31. A stock split, 10 for 1, was approved, raising liquidating value and future dividends to 2.50 per new share for 1933.
MENTIONED IN THIS ARTICLE
Cedar Rapids News
Inter-Ocean Reinsurance Company
Cedar Rapids
Inter-Ocean
Atlantic Seaboard
Union puts WOC on unfair list over wages row
Davenport station WOC was placed on the unfair list by the American Federation of Musicians after a wage dispute and alleged importation of three musicians for an orchestra at the station. Tri-City local No. 67 officials sparked the action amid the deadlock.
MENTIONED IN THIS ARTICLE
Davenport
WOC
Lst
American Federation of Musicians
Tri-City
The
American Federation
Roosevelt Offers Cabinet Post to Hiram Johnson
President elect Roosevelt seeks Johnson from California to join his cabinet. The interior post is favored for a westerner but other slots may be available. Johnson considers the offer amid ongoing persuasion from Roosevelt and his friends doubt whether he will accept.
MENTIONED IN THIS ARTICLE
Roosevelt
Hiram Johnson
Washington
California
United Press
Johnson
Theodore Roosevelt
Iowa Assembly Passes More Economy Bills
The Iowa General Assembly pushed economy measures, with the Senate approving 10 percent salary cuts for legislative staff, metering state mail to save about 1000 monthly, and making kindergarten optional by petition. The House lowered mileage rates to five cents and advanced two more economy bills.
MENTIONED IN THIS ARTICLE
DES Moines
Iowa General Assembly
House
Senate
A. C. Gustafson
Resolution for new committee to cut government expenses
The Senate Finance Committee favored a joint resolution authorizing a two senator two representative and governor named member committee. The panel will review state county township and city government operations for expense reductions with a $25000 appropriation for its costs.
MENTIONED IN THIS ARTICLE
Des Moines
INS
Senate Finance Committee
Illinois Governor Promises Aid To 7 000 Miners Wives
Seven thousand women from Illinois coal fields marched in Springfield to urge peace amid a labor dispute. Governor Horner welcomed the orderly protest and urged mediation while pledging to work for peace in the coal mining industry.
MENTIONED IN THIS ARTICLE
Illinois
Springfield
Henry Horner
Progressive Miners of America
United Mine Workers
Six Iowa Counties Granted RFC Loans For Relief
Des Moines Iowa Thursday six counties sought Reconstruction Finance Corporation loans totaling 144 450 to fund poor relief projects. Polk county requested 87 250 Sioux 6 400 Cass 7 400 Webster 3 400 Black Hawk 30 000 and Des Moines 10 000 were listed among applicants.
MENTIONED IN THIS ARTICLE
Des Moines
Reconstruction Finance Corporation
Iowa Emergency Relief Committee
E. H. Mulock
Polk
Sioux
Clas
Webster
Black
Will Rogers Says on Money and Silver Values
Beverly Hills editor quips that 80 percent of people handle only real value when silver is discussed and Congress keeps it as raw metal. He notes the Roosevelts drifting back to old ties and claims news of employment cures long-distance kinship gaps.
MENTIONED IN THIS ARTICLE
Beverly Hills
Congress
Reconstruction Finance loans report details 11 000 advances
Congress reviews a Finance Corporation report revealing 1171983 07 in loan totals with over 5000 advances to banks railroads and corporations in six months. The January 6 outstanding balance reached 833 651 875 while repayments totaled 267 532 363.
MENTIONED IN THIS ARTICLE
Washington
Congress
Reconstruction Corporation
Secretary of Agriculture
Alterations Urged in Farm Aid Bill
In Washington the Senate agriculture committee heard new criticism of the domestic allotment bill. Milk producers and stockmen urged shifting administration to the Farm Board and extending coverage to cattle and sheep, while others pressed removing dairy products from the measure.
MENTIONED IN THIS ARTICLE
W. F. Jensen
American Association of Creamery Butter Manufacturers
Chicago
Farmers Holiday Directors oppose domestic allotment plan
The National Farmers Holiday Association directors condemned the domestic allotment plan of farm relief. They said it ignores the cost of production and is another legislative gesture. They urged that better to have no farm legislation in the lame duck session than risk a monstrosity blocking a real relief bill in the upcoming special session.
MENTIONED IN THIS ARTICLE
Des Moines
National Farmers Holiday Association
Welford Charged with Murder of Prescott Landlady
Oden Welford of Covington Virginia was formally charged with the murder of landlady Mrs Sally Stewart in Prescott Arizona. The charge follows threats reported by Stewart's 17 year old daughter Martha who told officers of the alleged danger.
Roosevelt outlines unified transport plan for budget savings
President elect Roosevelt is preparing a unified transportation policy to consolidate railroads shipping inland waterways buses trucks pipelines and aircraft under one head to slash costs. The plan, discussed with Bernard Baruch and Walker Hines, aims to reduce government waste while possibly expanding the Interstate Commerce Commission’s reach.
MENTIONED IN THIS ARTICLE
Warm Springs
Roosevelt
Bernard M. Baruch
New York
Walker D. Hines
Railroad Administration
Friends
Interstate Commerce Commission
Roosevelt Signals Focus On Interlocking Communications
The article notes President Roosevelt plans to shift attention from a transit plan to interlocking communications, with consideration of consolidating radio, power, telephone, and telegraph agencies. It mentions his early focus on power but no concrete moves yet on other sectors.
MENTIONED IN THIS ARTICLE
RS Street
Fyne
Hig
Roeseevelt
Ming
Harriman Backs Buy American Slogan in Peoria Address
Henry Harriman president of the United States Chamber of Commerce urged a Buy American stance in Peoria addressing the Peoria Association of Commerce and Caterpillar Tractor executives. He said foreign nations must pay debts through world commerce and called for frank debt discussions to boost foreign trade amid farmers losing purchasing power.
MENTIONED IN THIS ARTICLE
Peoria
Henry I. Hareriman
United States Chamber of Commerce
Harriman
Peoria Association of Commerce
Caterpillar Tractor Company
United States
Board meeting tragedy as manager shoots successor
In Nashville Tennessee W A Buntin real estate firm head shot and killed Rumsey Lewis magazine publisher at the annual meeting after Lewis was named successor to president W E Steger. Buntin fled in panic shouting I have to shoot myself and disappeared. Police launched a manhunt fearing self harm.
MENTIONED IN THIS ARTICLE
Nashville
Buntin
Poelice
Six NYSE Members Suspended in Broad Disciplinary Action
The New York Stock Exchange suspended six members for one month to three years. Among those affected were traders tied to Smeltzer Clifford and Ludwig Robertson firms, which withdrew as clearing members of the Stock Clearing Corporation. Suspensions centered on paying gratuities to exchange employees and other financial institutions without approval.
MENTIONED IN THIS ARTICLE
NEW York
New York Stock Exchange
Smeltzer Clifford and Company
Ludwig Roberston and Company
Stock Clearing Corporation
Exchange
Also Mentioned on This Page
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Rae Nae
Britain
Texas
Bill
Farmer
Union
Iowa Assembly
R.F.C
Will Rogers
Editor
Will
MadeOn Reconstruction
Interstate
D. C
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