Morgan Defends Private Banking As A Necessity
Washington report details J Pierpont Morgan defending private banking before a Senate committee. He argues private bankers operate with a strong ethics code, have greater freedom due to fewer government regulations, and that both private and incorporated banks serve distinct roles. Morgan cites trust and credit as core to private banking and stresses accountability to clients and society.
MENTIONED IN THIS ARTICLE
Morgan
Washington
INS
J. Pierpont Morgan
Senate
Ackionis
Orde
Banker Ie
Measure to reorganize U S banking system passes
The House approved the Glass-Steagall bill by 262 to 19, aiming to guarantee deposits and reorganize banking. It would raise up to 2 billion dollars for an insurance fund, with tiers of coverage and a special board to administer it, while allowing state banks to join under certain conditions. Principal clash remains over state bank inclusion as Senate and House bills diverge.
MENTIONED IN THIS ARTICLE
Glass-Steagall Plan
Washington
House
Glass- Steagall
Treasury Department
Special Deposit Guarantee Board
House Bil
Senate
Congress
Roosevelt
Herring Accepts White Resignation in State Senate Fight
Governor Clyde Herring accepted the resignation of Harry C. White of Vinton from the Benton Tama district Senate seat effective July 1 as White moves to the state board of control. A special election date is to be set, with the Senate party balance at 24 Democrats and 25 Republicans. State Senator Matt D. Cooney of Dubuque also plans to resign to join the state board of parole.
MENTIONED IN THIS ARTICLE
Des Moines
Clyde Herring
Harry C. White
Vinton
Benton-Tama
White
State Board of Control
Herring
Benton‘Tama
Senate
Matt D. Cooney
Dubuque
State Board of Parole
World Fair Set to Open Saturday in Chicago
Chicago officials announced the Century of Progress exposition will definitely open next Saturday despite widespread questions and rumors. The confirmation ends uncertainty from across the nation as preparations near completion for the grand opening.
MENTIONED IN THIS ARTICLE
Chicago
Drys Concede Wet Vote In New York
Albany voters elected 150 delegates to the state prohibition repeal convention to be held in Albany on June 27 after city leaders conceded a sweeping wet victory.
MENTIONED IN THIS ARTICLE
New York
Albany
Nyapi
Ciry
Spider Thread Parable Calls For Shared Salvation
A 1933 essay uses a parable of a spider thread lifting souls from Hell to argue humanity is bound together. The message: collective fate hinges on communal religion, not private salvation, and selfishness harms all. It stresses shared responsibility across race, class, and nation.
MENTIONED IN THIS ARTICLE
Hell
Famed French Flyer Dies In Plane Crash
Ludo vic Arrachart, renowned wartime pilot and two time air distance record holder, was killed in Charters France after his plane crashed during practice for a speed contest.
MENTIONED IN THIS ARTICLE
Chartres
France
Ludovic Arrachart
Find A. W. O. L. Note From Missing Cadet
West Pointe AP Army officials reported Cadet John S Conner of Medford Oregon disappeared Monday from the military academy and left a note stating he was going absent without leave Officials did not discuss other personal crisis details The search for Conner who was to graduate with honors in a few days was discontinued.
MENTIONED IN THIS ARTICLE
West Pointe
Army
John S Conner
Medford
Ore
Military Academy
Conner
Mooney Trial Jury Nears Completion In San Francisco
In San Francisco AP report says Tom Mooney’s trial on an old 1916 Preparedness Day bombing indictment began with a failed bid for a jury from a 46 member venire. Judge Louis Ward excused 35 veniremen by cause or peremptory challenge, leaving 11, seven of whom were women. a new panel was ordered for Wednesday. Mooney’s supporters seek an acquittal to help a potential pardon.
MENTIONED IN THIS ARTICLE
San Francisco
Tom Mooney
Court of Superior
Louis H. Ward
Getig
Sprague Accepted U S Economic Adviser Post
Washington report says Sprague, former Bank of England adviser and Harvard professor, accepted Roosevelt’s offer to serve as the United States economic adviser.
MENTIONED IN THIS ARTICLE
Washington (Lp
O MW Sprague
Bank of England
Harvard
United States
Roosevelt
France Would Turn Her Arms Over to League
Geneva AP Foreign Minister Joseph Paul Boncour told the disarmament conference France proposes to place heavy offensive weapons under League of Nations control to aid any victim of aggression. He said reductions must come with security and real control of arms including privately manufactured weapons.
MENTIONED IN THIS ARTICLE
Geneva
Joseph Paul Boncour
France
League of Nations
US Delegate Forces Immediate Disarmament Talks
Geneva dispatch reports Norman H. Davis, U.S. chief delegate, pressing European powers to begin immediate disarmament discussions after his Monday triumph. He secured a concession to move security issues to a special committee while disarmament talks proceed. France warned that security of itself and allies must be discussed before any disarmament agreement.
MENTIONED IN THIS ARTICLE
Geneva
Norman H. Davis
United States
Davis
France
Britain backs Roosevelt view on world conferences outcome
London informed on Tuesday that the British government entirely shares President Roosevelt's belief that the success of the world economic and disarmament conferences will determine the future happiness and prosperity of the world.
MENTIONED IN THIS ARTICLE
London
Roosevelt
How Tax Boost Would Affect Income Levies
Washington UP reports on proposed tax changes from the House Ways and Means Committee. The article explains new rates rising from 4 and 8 percent to 6 and 10 percent for taxable income, with no change to exemptions of 1000 for single, 2500 for married, and 400 per dependent, and provides a table showing impacts for various income levels and filing statuses.
MENTIONED IN THIS ARTICLE
Washington
House
Ways and Means Committee
Manning man jailed for assault on train crew
Melvin Mock, 22, of Manning, was sentenced to 60 days in jail after pleading guilty to assault and battery and drunkenness. The Chicago Great Western fireman, E. F. Abrahamson, testified that Mock fought with him for about twenty minutes in the locomotive cab Sunday morning between Manning and Carroll. Mock faced minor offenses due to his youth and lack of prior criminal record.
24 Families In Cedar Rapids Want Bungalows
A Gazette rental notice shows 25 responses to a bungalow ad in Cedar Rapids. One family rented a bungalow at 1539 B Ave NE. 24 families remain seeking a vacant bungalow via the Gazette Rental Want Ad. Dial 2-1121 to place ads. 2-414 for the rented bungalow details.
MENTIONED IN THIS ARTICLE
Cedar Rapids
the Gazette
Gazette
B Ave
Yankees Dominate Cleveland in 8 6 Tuesday Ball Game
Major League results include the Yankees beating Cleveland 8 to 6 as Ruth Gehrig Combs and Chapman homer. Cleveland slides to fifth while the Athletics top St Louis. Swetonic limits Brooklyn to four hits and the Pirates win 3 to 0. Box scores and late sport news follow.
MENTIONED IN THIS ARTICLE
Ruth
Gehrig
Combs
Chapman
New York Yankees
Cleveland
Athletics
St. Louis
Swetonic
Brooklyn
Pirates
Dodgers
New York
Cincinnati
Parmelee
Luque
Mancuso
Lucas
Lombardi
Linn Board Cuts Pay Of Deputies Under New Law
Linn county supervisors cut salaries of deputy officers under a new state law effective May 1. Deputies Brockman Rubles Fitzgerald Campbell Sherman Axmear Ballard saw pay drops, while Deputy Sheriffs Condon and Davis received increases to 1500. Also lowered were per diem for supervisors and mileage, with further cuts to probation and assessor staff penalties.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Linn County
Board of Supervisors
E. T. Brockman
Charles Rubles
Lee Fitzgerald
Myrtle Campbell
George B. Sherman
Arthur Axmear
Gladys Ballard
Larry Condon
Jay Davis
Superior Court
Thomas B Powell
Lena Vogt
Stanley Jonas
Dominick Feiereisen
Fred Dow
Poisonous Reptile Sent Through Mail to Widow
In Chicago federal postal custody today a five copperhead, a poisonous reptile, was sent through the mails in a candy box to Mrs Ebba Brazeau, a widowed mother of three. Opening the box she found the snake coiled in one end and called police.
MENTIONED IN THIS ARTICLE
Chicago
INS
Ebba Brazeen
Rush plans to boost cotton and wheat prices
Washington AP reports officials under the farm adjustment act will issue informal producer meetings before week’s end. Secretary Wallace and George N. Peek aim to appoint commodity chiefs within ten days, with C A Cobb as cotton administrator and M L Wilson heading wheat programs.
MENTIONED IN THIS ARTICLE
Washington
Wallace
George N. Peek
C .A. Cobb
Atlanta
M. L. Wilson
Montana State College
Earle Smith
Chicago
Unols Agricultural Association
Prohibition Official Sees 3.2 Beer Closing Speakeasies
In San Francisco AP reports Major A V Dalrymple national prohibition director says about 50 000 speakeasies have closed due to the 3.2 beer laws and many more will shut when beer improves Major Dalrymple adds current beer is good but should be ripened longer before sale.
MENTIONED IN THIS ARTICLE
San Francisco
Major A. V. Dalrymple
National Prohibition
Major Dalrymple
Slight River Drop Amid Rain Overnight Cedar Rapids
The Cedar Rapids river level eased three tenths of a foot from Mondays 7.3 feet as showers and mixed clouds moved through. Despite the drop the river remains about three and one half feet above seasonal normal with daytime temperatures climbing from 69 to 81.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Sino-Jap Truce Report Signed in Peiping
AP dispatches from Tokyo note a Sino-Japanese truce signed in Peiping freeing Peiping from occupation. Chinese troops evacuate the city, retreating to a line from the Great Wall to a seaward point north of the capital. Permament peace talks to follow in Peiping as Japanese leaders pledge no assault on the old city.
MENTIONED IN THIS ARTICLE
TOKIO
Peiping
North China
Rengo
Great Wall
Imperial
Manchus
Ben Lindsey May Be Governor of Hawaii
Judge Ben Lindsey of Denver is slated to become governor of Hawaii if Congress approves a law change recommended by President Roosevelt. The plan would permit a governor to be appointed who is a non resident of the island, Rep. Snell of New York declared Tuesday.
MENTIONED IN THIS ARTICLE
Washington
INS
Ben Lindsey
Denver
Hawaii
Congress
Roosevelt
Snell Trep
New York
Jobs bill becomes plan for giant levy
Democratic leaders in the House move to fast track the administration's industrial recovery bill by a special rule. The public works bond issue totals 3.3 billion dollars with a seven hundred million tax program. The plan calls for six hours of debate and no amendments, setting up a showdown on a manufacturers sales tax.
MENTIONED IN THIS ARTICLE
Washington
INS
House
Rep
Doughton
North Carolina
Public works-Industrial Control
Treasury
Ways and Means
Lewis W. Douglas
Prosecutor Counters Nudist Colony Distinction in Riverside
Riverside County officials served notice on Hobart Glassey promoter of Elysian Fields saying no nudist colony will be permitted. Glassey called it a secluded vacation center where people may go naked, while District Attorney Tari Redwine dismissed the distinction and demanded clothing.
MENTIONED IN THIS ARTICLE
Riverside
Calif
Riverside County
Hobart Glassey
Elysian Fields
Tari Redwine
Glassey
Redwine
Continue Probe Of Mitchell Dealings In Bank Stocks
NEW YORK AP Without George Whitney in Washington for a senate banking hearing the trial of Charles E. Mitchell former National City Bank chair adjourned after lunch on tax evasion charges. Testimony indicated a 10 million dollar Morgan loan backed a large block of National City Bank stock to support its price after the 1929 crash. Evidence suggested Mrs Mitchell could have profited nearly 1 million from 1929 stock transfers.
MENTIONED IN THIS ARTICLE
New York
George Whitney
Morgan
Washington
Senate
Charles E. Mitchell
National City Bank
Whitney
Morgans
Mitchell
William Murtha
The
Wall Street Journal
Filivino jurist dies in Manila at seventy
Justice Signacio Villamor, 70, associate justice of the Supreme Court of the Philippines and presidential appointee, died Tuesday in Manila.
MENTIONED IN THIS ARTICLE
Manila
Sgnacio Villamor
Supreme Court of the Philippines
No Director Paid Taxes in Last 2 Years
Washington report reveals I P Morgan and twenty partners paid no income tax in 1931 1932 with Morgan losses carried from 1930 to offset profits. Senate probing 1932 reorganizations questions legality of mergers while Pecora presses Keyes on disclosures.
MENTIONED IN THIS ARTICLE
Washington
LLP
I. P. Morgan
Power
International Finance
Senate Banking Committee
House of Morgan
Blue Book of Finance
Morgan and Company
Ferdinand Pecora
Leonard Co. Keyes
J. P. Morgan and Company
Morgan
S. Parker Gilbert
Treasury
Keyes
Pecora
Gilbert
Glass
Western storms kill fourteen across midwest and west
Tornadoes swept through dust filled skies across Nebraska Kansas Oklahoma and Colorado causing widespread damage. Fourteen people died seven near Tryon Nebraska two near Liberal Kansas one near Garden City Kansas and a dozen more were injured. An 8 year old girl was seriously hurt in Denver as winds reached seventy five miles per hour.
MENTIONED IN THIS ARTICLE
Garden City
Kan
Wheat Country
Tryon
Neb
Liberal Kan
Bainville
Mont
Kansas
Oklahoma
Nebraska
Colorado
Denver
H. L. Herring
Meade
Liberal
North Platte
Dix
Big Springs
Gilda Gray Weds Venezuelan Diplomat in Havana
New York and Havana report that dancer Gilda Gray married Hector B Riczo de Saa, a wealthy Venezuelan diplomat attached to the legation in Havana, on Tuesday. The ceremony linked two prominent social circles across nations.
MENTIONED IN THIS ARTICLE
Gilda Gray
New York
Gillda Gray
Hector B. Riczno de Saa
Havana
British Mill Hands Clash With Troops
A 5,000 strong mob of striking mill workers attacked four units of the national guard in Manchester New Hampshire Tuesday night to protect Amoskeag mills. Police and militia faced resistance, three strikers were arrested, and the mob followed officers to the police station, hurling stones and smashing shop windows along the route.
MENTIONED IN THIS ARTICLE
Manchester
N. H
Also Mentioned on This Page
U.S
Mooney
Sprague
League
Philadelphia
Rhemn
Bush
Tinning
Richmond
Hartnett
Pittsburgh
I Carroll
Ryan
Sukeforth
Padden
Boston
Frankhouse, Cantwell and Hargreaves
Carleton and Wilson
Hildebrand
Hudlin and
Myatt
Allen
Brennan
Dickey
Gaston
S&erry
Andrews
Welch
Kline and Ferrell
Detroit
Mayworth
Stewart
Samedh
Burke
Bewells
St.Louis
Coffman
Gray and Shea
Mahaffey
McDonald
Grove and
Linn Board
Rush
Peek
Filivino Jurist
Internal Revenue Bureau
Carter Glass
Dem
John W. Davis
Wall Street
Morgan Empire
American Car and Foundry Company
Woodin
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