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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 27, 1933
Page
1
Verne Marshall notes Chicago hosts the Century of Progress exhibit as debate about democracy, poverty, and government funding continues. He recalls past financial schemes, criticizes local graft, and criticizes current unemployment relief and county wage cuts in Iowa amid national tax tensions.
The Roosevelt administration urged Congress to strike the gold clause from all obligations making all U S money legal tender for debts. Treasury Secretary Woodin explained the aim as clarifying the status of gold clauses and noting the March 6 bank holiday and the Thomas amendment that made all U S coins and currencies legal tender.
Two armed bandits stole 10000 dollars in non negotiable bonds near Durant Iowa after forcing C W Neal to surrender the bonds at gunpoint. Neal who gave his Chicago home said the men also took a wrist watch a suitcase and 8 dollars in cash and had asked directions in Moline Illinois before following him.
Don Pryor announces six Daily Iowan appointments led by Philip Newsome as managing editor and Richard Fagan as city editor. Other editors include Tom Yoseloff campus editor, George Kalbach news editor, Harry Burrell sports editor, and Illona Jane Cooley society editor. Staff start duties June 1.
A ferry carrying 50 people sank on the Kirkit River near Tokat, Istanbul, leading to 23 confirmed drownings and several others missing as rescue operations continued.
British holders of United States bonds formed a protective committee led by Sir Harry Gloster Armstrong to sue for payment in gold. They aim to challenge the U S repeal of the gold clause, with Col. Norman G. Thwaites saying legal action will proceed despite the measure. Attorneys on the continent study similar cases from France and Belgium.
The United States prepares for an economic war stance if the London conference fails to lower trade barriers. Officials express concern over rising nationalism and the chance that tariffs and other barriers will not be reduced.
Berlin reports that the cabinet ordered confiscation of all properties owned by the communist party and affiliated groups. A second law provides a 20 million mark subsidy for shipping. Dr. Hjalmar Schacht briefed on talks with President Roosevelt. cabinet meeting was held in secret.
The Glass-Steagall bank reform bill was sent to conference by the House after disagreeing with Senate amendments.
Washington reports flare in the Senate inquiry into J. P. Morgan and Company as Pecora and Senator Carter Glass clash over the scope of revelations. The committee adjourned after Glass questioned Pecora’s authority while Pecora asserted his independence amid protests and applause. The session revealed United Corporation control of power and gas assets, with Morgan partners and warrants under review for next week.
New York Supreme Court Justice Bernard L. Shientag ruled that Joseph Harriman and the Harriman National Bank defrauded depositors by selling bank stock at 1500 a share. Margaret Singleton, lead plaintiff, won full judgment for the difference between paid price and true value 200 a share. The bank allegedly kept a fictitious market to peg the price.
Judge Earl Peters granted a venue change to Orange City Sioux county for trials of farmers tied to the abduction of Judge C C Bradley aged 53. Richard Popken faces trial on technical assault. Six Plymouth county farmers pled guilty to assault with intent to do great bodily harm and other charges in district court.
Stocks surged on news of President Roosevelt’s proposal to repeal the gold standard act. Gold mining shares led gains with Homestake up over 17 dollars to about 217, Alaska Juneau and Dome Mines up around 2 dollars. American Telephone and U S Steel hit new highs as inflation sentiment rose.
Washington AP reports wheat growers urged early use of the voluntary domestic allotment plan and $231 million in summer payments. George N Peek chaired the first commodity conference to boost farm income. M W Thatcher outlined a six teen grower proposal for a processing tax by Aug 1 and mid July benefit payments.
President Roosevelt convened his delegation and a team of experts in London to draft an action program for the economic conference. Bernard Baruch joined the White House talks as an advisor though he stated he is not part of the American delegation, with Hull chairing and other delegates and aides present.
The Federal Reserve System reports record gold holdings of 3.499 billion dollars, up 31.7 million for the week ending Wednesday. Including Treasury gold, total government control stands at 3.674 billion, with about 640 million held outside government control.
Ten year old Jerry, weakened by a mastoid operation and a life of poverty, should attend Camp Good Health this summer. He lives above a store with four siblings and a frugal income, facing smoke, cold, and poor diet. A cot, meals, and nursing supervision await him at a wooded hill camp near Mount Vernon and Cedar Rapids.
Summary of American League and National League results from Friday. Box scores list team by team outcomes, key pitchers, and scoring by innings for games including Chicago New York Detroit Philadelphia Cleveland Boston St. Louis Washington Pittsburgh Cincinnati Boston Chicago and St. Louis.
A sermon explores sincerity as a demanding virtue requiring self knowledge and a purge of vanity. The speaker notes pride, prejudice, and mixed motives distort truth, recounting a past church conflict over vanity and office. The piece ends with a call to seek God’s flame to reveal and burn away lies.
City records show thirty four smallpox cases with no new reports up to 3 p.m. Friday. City physician Dr. Thomas Suchomel said the situation is well in hand and has completed school vaccination in the northwest, planning to vaccinate the southwest area starting Monday.
The House passed Roosevelt’s national recovery bill by 324 to 76 advancing a plan to tax middle class incomes and fund a $3.3 billion public works program. An amended tax clause targets avoidance by large investors while a federal industry control board would set hours wages and trade rules to curb overproduction.
Newport Rhode Island AP report describes Mrs Elle Gwenin Woodward Jelke calling witness Mrs Ethel Hartman to disprove her husband F F Jelkes adultery charge. Effie Bailey Wagner testified spotting Jelke with a mysterious major in a Bir Als apartment. Hartman was summoned to counter Bailey’s account.
In Washington AP report 3B Gaston Means and Norman T. Whitaker received two year jail sentences each for conspiracy to defraud Mrs Evalyn Walsh McLean of 35000 in the Lindbergh baby hoax.
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