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Newspaper
Grafton Sentinel
Location
Grafton, West Virginia, United States of America
Date
May 24, 1933
Page
6
Pecora questions Morgan and Keyes about income tax avoidance through firm structure during 1931. They discuss losses, allocations, and the firm’s use of the law to reduce taxes, asserting the fault lies with legislation not the firm. Morgan cites private bankers as national assets while defending strict adherence to tax acts.
J P Morgan senior partner J P Morgan and office manager Leonard Keyes testified to a banking committee that none of the 20 Morgan partners paid income tax for 1931 or 1932 due to losses. They said a $21 million loss from reorganizing in 1931 could not be used to evade taxes in 1933. The hearing revealed private details of Morgan operations and prompted executive sessions to review the partnership agreement and borrower lists.
The Rev. Fred Sidney Mayer of Baltimore was elected president of the general convention of the New Jerusalem in America at its 112th annual session in Philadelphia on May 23.
Washington May 24 A.N.B. president Dr C Oscar Johnson headlining the Northern Baptists convention argued for a Roosevelt like leader to guide the church through hard times. He praised F D Roosevelt for courage business sense political acumen frankness and attack readiness.
American missionaries near Tungchow say fighting resumed on the town’s eastern outskirts despite reported truce in north China. Ten Chinese killed, missionaries linked to the American Board of Missions, with 70 to 80 American children evacuated or staying at posts as Chinese reinforcements arrive amid rising hostilities.
Washington May 24 The Roosevelt leadership uses diplomacy to push for Far East peace and armaments reduction while Japanese officials object to the president's definition of an aggressor nation during a delegation meeting.
Four people were seriously hurt and 21 minor cases after a rear end subway crash at the Brooklyn museum station of the IRT. The motorman of the rear train was trapped in his cab and freed with acetylene torches. doctors feared possible death.
The West Virginia house faced tense debates over alleged utility influence as Holt denied claims of bribery and a false impression was clarified. Amendments to vehicle licensing were debated, with changes proposed to fees and license year start. The body approved a Lewistown borrowing measure, ordered redistricting discussions, and killed three resolutions while advancing a bill for annual auto operator licenses. A probe into the irreducible school fund was authorized, citing concerns of unsafe loans and official accountability.
Johnson attacked current government spending noting 117000 per pound mail transport and 7000000 on bugologists while urging cuts. He claimed the best economy requires calling in tax exempt securities so the rich pay taxes pro rata with the poor, condemning WWI era tax policy as the greatest crime.
George G. Jolliffe stands trial on arson charges tied to the February 28, 1932 fire at his father's West Main street store. Jurors selected. state contends store closed out sale amid finances, flash and smoke seen inside, and Jolliffe seen leaving. Defense argues loss of finances is unfounded and the blaze resulted from overheated machinery. Witnesses include Joseph Jolliffe, former store associate, detailing Jolliffe duties and lack of bookkeeping role.
The testimony covers charge accounts from a sales book and the witness says George knew little about the business condition. Insurance firms refuse fire loss settlement and deputy fire marshals Keim and Raper will testify. Fire agents including Morgan Bona field and Parrish testify on policies and building. Circuit Clerk Hollis confirms policies filed as court record. About fifty witnesses summoned to testify in the trial.
News comes of the death of Mrs John E Slane at her home in Statesville North Carolina at age 85 She had moved from Grafton about ten years ago after a hip fracture from a fall two weeks earlier Her husband John Slane died two years ago The family includes sons Oscar and Willis Slane and daughters Mrs Grace Stevens Mrs Pred Whitescarved Mrs Effie Wineski and Mrs Maude Boylen Funeral services will be held Thursday afternoon at Stet se Church patronage and interment follows in Philippi area
Newport Rhode Island May 24. Under cross examination Mrs Eugenia Woodyard Jelke admitted she charged more than 5000 dollars worth of clothes annually after separation. She said items were bought before her husband F Fraser Jelke of Newport and cage posted a notice he would not be responsible for her debts. Testimony in Jelke's suit was concluded late last night.
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