Inflation and banking crisis loom over Iowa as federal action nears
The piece warns hoarders may lose value as inflation looms and currency is rebalanced. It notes bank holidays culminated in a nationwide crisis, criticizes hoarding, cites Iowa Lt. Gov. Kraschel advocating prudence, and says eastern control of money shifts to the federal government while Iowa producers seek solid value and swift state action.
MENTIONED IN THIS ARTICLE
Washington
Michigan
FFA
Mr. Kraschel
Iowa passes insurance act to curb reserves run
Iowa lawmakers approved Senate File 416 46 to 1 in the Senate and 80 to 16 in the House. The act empowers the insurance commissioner with governor approval to take over assets of insurers transacting in Iowa and to restrict withdrawals on policies. Publication makes it effective at business opening Thursday.
MENTIONED IN THIS ARTICLE
DES Moines
Iowa General Assembly
Iowa
Senate
House
Ren. Swift
Jackson County
Swift
Can Walt Loans
Estates Inssurance
Irving H. Knudson
Knudson
N. G Kraschel
Clyde Herring
E. W. Clark
Alesch
Bonnstetter
Bruce
Foster
Gray
Hook
McCarthy
McLean
Manrice
Paisley
Rice
Sheridan
Smith
Jackson
Zipse
Zylstra
Craven
Durant
Elliott
Fuester
Goode
Hultman
Ryder
Stansell
Humeston
Jensen
Johnson
Ostby
Insurance Commissioner
American dollar boomed in Paris on banking news
A Paris money market surge followed news of U S banking improvements. President Roosevelt's program and Secretary Woodin's declaration that scrip plans would end spurred optimism. The American gold supply appeared ample as traders covered shorts and the dollar rose from par by several cents.
MENTIONED IN THIS ARTICLE
Paris
United States
Roosevelt
Woodin
State Banking Department to Permit Banks to Reopen
A statement notes the State Banking Department will be held responsible for allowing only banks deemed sufficient to resume operations after national and state restrictions are lifted.
MENTIONED IN THIS ARTICLE
State Banking Department
Iowa Banks Keep Holiday as Proclamation Enforced
Acting Governor Kraschel announces all Iowa banks are closed in line with the state holiday order. Some banks stop new deposits but Dubuque banks stay open under federal rules, while authorities urge patience until reserves are released in New York and Chicago.
MENTIONED IN THIS ARTICLE
Des Moines
Iowa
Kraschel
First National
City National Banks of
Council Bluffs
Treasury
Dubuque
First National Bank
Federal Banking Department
New York
Chicago
L. A
America
Roosevelt
Gov. Herring
First National Bank Stays Open In Dubuque On Banking Holiday
Dubuque bank remains open for business despite Lieut. Gov. Kraschel urging all Iowa banks to close in line with a state banking holiday.
MENTIONED IN THIS ARTICLE
Dubuque
First National
Kraschel
Iowa
Des Moines Alcohol Gasoline Bill Defeated in House
The alcohol gasoline bill failed 48 to 57 after a brief reversal from an 88 to 34 substitute vote. It would have required a 10 percent corn alcohol mix with a 5 cent per gallon penalty, exempted aviation and fire dept fuel, and needed adoption by three neighboring states. Rep. McFarlane opposed it, warning of draining road funds. Rep. Mitchell saw a farmers market gain.
MENTIONED IN THIS ARTICLE
DES Moines
House
Aviation and Fire Department
Rep
McFarlane
Black Hawk
Mitchell
Webster
Roosevelt to Ask Broad Powers to Cut Vets Costs
President Roosevelt plans to ask Congress for broad constitutional powers to slash government spending. He aims to reduce veteran benefits and other expenditures totaling nearly 1 billion dollars annually, and to reorganize or abolish several departments and commissions to trim costs.
MENTIONED IN THIS ARTICLE
Washington
Roosevelt
Congress
Capitol Hill
Tolec Va
Lewis W. Douglas
Treasury-Post Office Department
Home Loan Discount Bank
Hoover Administration
Farm Board
Commerce Department
Agriculture Department
Reconstruction Corporation
Shipping Board
Navigation and Steamboat Service
Lighthouse Service
Coast and Geodetic Survey
International Boundary Commission
American Marine Standard Committee
inter-American Highway Commission
International Screw Thread Committee
Federal Stabilization Board
Wood Utilization Committee
Everyday Religion on Debt and Human Ambition
A 1933 essay argues nations and individuals drown in debt while praising luxury and idealism. It contrasts war costs with the pursuit of truth, beauty, and love, urging restraint and wiser values as humanity advances beyond income and riches.
MENTIONED IN THIS ARTICLE
House of Life
Cermak Mayors Final Tribute in Chicago City Hall
A special train delivered Anton J. Cermak’s flag draped casket to Chicago. City officials wheeled it through a 20 000 strong crowd. The body will lie in state Thursday at City Hall and funeral services Friday at the Chicago Stadium conducted by clergy from three faiths.
MENTIONED IN THIS ARTICLE
Cermak
Chicago
Anton J. Cermak
American Sugar Refining Reports 1932 Profit Per Share
The American Sugar Refining company reported a 1932 net profit of $3,327,986 after preferred dividends, equating to $2.62 a share on common stock. The prior year showed $4,155,031 or $2.23 a share in 1931.
MENTIONED IN THIS ARTICLE
New York
American Sugar Refining Company
Ranney Named Head Over Three Insull Utilities
George A. Ranney chosen vice-chairman of Commonwealth Edison Peoples Gas Light and Coke and Public Service of Northern Illinois. He will succeed Samuel Insull Jr on May 1 after resigning from International Harvester to take the posts.
MENTIONED IN THIS ARTICLE
Chicago
Insull
George A. Ranney
International Harvester Company
Commonwealth Edison Company
Peoples Gas Light and Coke Company
Public Service Company
Northern Illinois
Ranney
Samuel Insull, Jr
Fifteen Rescued From Ice Floe Near Madeline Island
Reports say fifteen men were rescued from an extensive ice floe drifting toward Lake Superior south of Madeline Island ASHLAND Wis with seven identified as Indians. Rescuers warned others remained on the floe as a blizzard closed in.
MENTIONED IN THIS ARTICLE
Ashland
Wis
Lake Superior
Madeline Island
Japanses Start Drive on China Proper near Peiping
Japanese forces bombed fleeing Chinese troops along the Peiping highway fifteen miles inside the Great Wall. Peiping fears an air raid as foreign nationals in the Peiping Tientsin area evacuate. Marshal Chang Hsueh Liang resigns as acting chairman of Peiping military council.
MENTIONED IN THIS ARTICLE
Peiping
China
Great Wall
Kupeikou
Japan
Peiping-Tientsin
United States Marine
Chang Mhsueh-Liang
Northern
Roosevelt and Leaders Plan New Program
President Roosevelt with Vice President Garner and congressional leaders at the White House outlined a banking and economic program. Key figures include Senators Robinson Glass Johnson Dill and representatives Rainey Snell Steagall Woodrum Burns and McDuffie. A second message to Congress and a June government reorganization were discussed.
MENTIONED IN THIS ARTICLE
Washington
Roosevelt
Garner
White House
Congress
Joseph T. Robinson
Senate
Carter Glass
Virginia
Secretary of the Treasury
Henry T. Rainey
House
Hiram Johnson
Congress to Rush Aid in Roosevelt Era Session
The seventy third Congress, dominated by Democrats and pledged to back President Roosevelt's proposals, meets in an extraordinary session to enact the new administration's program. The action aims to speed relief and reforms amid economic strain.
MENTIONED IN THIS ARTICLE
Congress
Washington
Seventy-Third Congress
Roosevelt
Kidnapping Case Expands Across Border Into Canada
A federal grand jury in Denver was summoned to consider indictments against six kidnapping defendants in the Charles Boettcher case as the search widened into Canada. Vern Sankey and Gordon Elkorn were sought as escapees, both former Canadian residents with ties to the Canadian National railway, alleged to have led the two week ransom plot and holdout at a residence linked to the Boettcher family.
MENTIONED IN THIS ARTICLE
Denver
Charles Boettcher, IV
United States
Canada
Vern Sankey
Gordon Elkhorn
Charles Boettcher
United States District Court
Albert T. Clark
Gordon Elkorn
Gordon Best
Canadian National Railway
Sankey
Claude K. Boettcher
Plan to issue scrip abandoned in banking crisis response
Washington action shifts from scrip to expanded federal reserve notes to ease bank liquidity. Officials indicate at least 2 to 3 billion dollars in new notes could be issued while maintaining gold reserves, with Roosevelt seeking powers from Congress to manage the crisis.
MENTIONED IN THIS ARTICLE
Federal Reserve
Roosevelt
Washington
Congress
Treasury
Alent
Oreny
Bhue
Puaee
Federal Reserve System
Chase National Seeks Wide Bank Reform to Separate Units
Chase National Bank of New York announced immediate steps to divorce its securities affiliate Chase Securities, joining National City Bank in separate operations. Chairman Winthrop W. Aldrich urged reforms including forbidding deposits by corporations not publishing statements, barring securities firms from bank deposits, restricting bank director overlap, and limiting bank boards. He argued for broader Federal Reserve membership and that underwriters be limited to U.S. government and public bodies.
MENTIONED IN THIS ARTICLE
New York
Chase National Bank of New York
Chase Securities Corporation
Winthrop W. Aldrich
National City Bank of New York
National City Company
Aldrich
U. S
United States
Federal Reserve System
Wallace calls farm leaders to parley on relief program
Secretary Wallace summoned farm organization leaders to meet Friday to finalize a farm program for Congress. The plan aims to relieve this year's crop production with a modified domestic allotment, including renting land to reduce surplus. Action by March 15 is urged as planting begins.
MENTIONED IN THIS ARTICLE
Washington
Congress
Wallace
Robbed man forced to walk home after car theft
Herman Hanson was seized by two men as he closed his public garage in Le Sueur Minnesota. He was driven about fifteen miles in a stolen car, robbed of fifty dollars, and then ordered to walk back to his home.
MENTIONED IN THIS ARTICLE
LE Seuer
Minn
Herman Hanson
What Banks Must Do to Get New Currency
Secretary Woodin outlines steps for federal reserve banks to rediscount and supply member banks with currency. Required: disclose cash on hand, justify need for more currency, and exchange gold or gold certificates. Only banks meeting treasury rules in spirit and letter receive accommodations.
MENTIONED IN THIS ARTICLE
New York
Apj
Woodin
Federal Reserve Bank
Treasury
Also Mentioned on This Page
Verne Marshall
France
England
Herring
Bieut
Towa
Trol
Dubuque Bank
Ask Power
Leaders
Chase National
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