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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 19, 1932
Page
13
A new rule limits margin lending by brokers after April 1 by requiring written authorization to lend customer securities and mandates notices of possible revocation. The change does not ban short selling but makes it harder, mainly affecting large operators while small speculators may see little impact.
In Geneva on February 19, the twelve neutral members of the League of Nations council planned an afternoon general council session in response to a request from W. W. for unspecified actions.
In Shanghai a Chinese delegate and Yen met to discuss the Japanese ultimatum and its implications for regional diplomacy and crisis management.
The report details Allied and Japanese positions at a northern boundary and a Japanese headquarters plan at Kungda mill Yangtzepoo with maps and fortifications amid a broader note on wartime conditions. It then shifts to U S policy, Reconstruction Finance Corporation efforts, and North Carolina General Assembly achievements in 1931 including road and school reforms, local government consolidation, tax shifts, and a 76 percent departmental spending mandate.
The article describes McAdoo's backing of Garner as Roosevelt faces a potential deadlock before the Chicago convention. Roosevelt supporters push a decisive victory in the south and west while Garner backers aim to avoid stalemate and force a landslide through to the nomination.
The speaker urges Kentucky lawmakers to reconnect government with traditional values and live on current income. He argues deflation myths, mounting public debt, and the need to reduce government costs while boosting social income. Aimed at restoring work opportunities for millions idle.
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