03 Oct 1931
Page 1
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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Oct 03, 1931
Page
1
In Glasgow the fiercest rioting in years erupts as unemployed demonstrators clash with police over dole cuts. Dozens injured and over 100 arrested as police and protestors battle through streets and alleys near the jail where Labor M. P. John Mc Govern and aides are detained.
Thomas W. Lamont of J P Morgan urged in New York October 3 that the underlying strength of American institutions and natural resources supports recovery. He warned against dole as a cure, urged private effort to relieve unemployment, and criticized alarmist rumors while noting optimism and frustration in the business mood. He spoke to 250 financiers and leaders forming the emergency unemployment relief committee.
U S Chamber of Commerce directors adopt a resolution urging the New York Stock Exchange to restrict short selling of stocks and bonds. The measure proposes prohibiting such sales except by holders of the securities or by those who deposit 40 percent of the sale value in cash and show possession of the remainder. A second resolution asks the Federal Reserve to liberalize discounting of paper within legal limits. The moves come after criticism of short selling from President Hoover and Senator Watson amid market unease.
The London obituary notes Sir Thomas Lipton's death prompts questions about his wealth and heirs. He never married, left no direct successor, and rumor floats about a charitable bequest. Lipton funded London’s poor at Queen Victoria’s jubilee and supported charities for years.
State Senator Fred D. West of Abbeville announced plans to raise 98000 for the South Carolina Progress Association to promote and sell South Carolina products nationwide. T. Frank Watkins of Anderson named general chairman of the push in Greenville, D. C. on October 3.
William Green of the American Federation of Labor tells delegates at the first annual AFL convention in Vancouver that organized workers seek Volstead act modification and will fight wage reductions to the last ditch. He advocates beer legalization to spur jobs, calls for wealth redistribution, higher taxes on inheritances and incomes, and shorter hours to ease labor supply.
Baton Rouge report notes Lieutenant Governor Paul N Cyr plans to file a removal suit claiming the governorship since Long left to run for the U S Senate. Long dismisses the threat, saying the move is not newsworthy.
Winston-Salem October 3 Contracts for a three story building 178 by 86 feet as an addition to the Hanes Hosiery Mills plant have been let to James G. Baird and company and work will start at once.
Secretary Adams says the navy is considering curtailing a $61 million cut by keeping about one fifth of fighting ships inactive. Rotating ships like carriers Saratoga and Lexington could reduce operating costs while not cutting the building program. Possible further steps include personnel reductions and removal of some shore stations.
Sharon Presbyterian church in Mecklenburg county marks its 100th anniversary with a sermon by Dr. Walter L. Lingle president of Davidson College. Over a century it has been served by 26 pastors with Rev. C. H. Little as pastor for 18 years.
The U S government's suit against Newton Cotton Mills Inc for 114000 dollars in income taxes has been compromised for 50000 dollars. Papers on the compromise were filed in district court in Asheville where the case was originally filed.
Records of Bishop James Cannon Jr stock market dealings will be shown to the grand jury as it probes possible corrupt practices in 1928 election funds. John J. Wilson obtained records from Harry Goldhurst and will call Frelinghuysen and others. Cannon remained at the Baltimore conference before leaving for Washington with plans unclear.
America's bankers face a paradox as thrift grows during a business downturn. Mutual Savings Bank deposits rose from 8.95 billion to 9.98 billion in the year ending June 30 1931, while total savings deposits reached 28.54 billion by June 30 1930, about 56 percent of total individual deposits.
Pope Pius XI in an apostolic letter denounces the frenzied race of armaments as causing world distress and urges a crusade of charity for the unemployed. He asks priests worldwide to give all they can to relieve need and seek more from their superiors if necessary.
President Hoover met with Bernard Baruch at breakfast to discuss the European economic situation. Baruch, recently back from Europe, kept details confidential, saying only the president would speak on subjects discussed. Secretary Stimpson and Senator Morrow also gathered for talks related to the London naval conference and a planned French visit.
The Atlantic Scouting fleet commanded by Rear Admiral W D Leahy arrived at Charleston harbor from Newport Rhode Island and will stay for three months. Fall and winter target practice and maneuvers will be conducted from this base. The Raleigh flagship and 24 other warships are in port.
Washington reports a national plan to balance production and consumption to avert depressions. A chamber of commerce committee led by Henry I Harriman of Boston presented recommendations to the board. Other committees urged immigration quotas for Japan China and other Far East nations to ease trade friction. The president has shown interest in anti slump measures and calls for an international bi metalism conference, with Borah promoting the idea.
Goldsboro market sold 200,850 pounds of tobacco on Friday bringing the season total to 2,917,430 pounds at an average of 9.14 per hundred. Yesterday's average was 10.22.
Charlotte hosts the first meeting of Women pilots of the south during a four day all southern aircraft pageant. About 40 of the nation’s 300 licensed women pilots are from the south with participants traveling from Texas Missouri Maryland Virginia Tennessee Georgia and several southern states. Noted fliers include Phoebe Omlie Mary Nicholson and Mrs A R Clark among others as the event aims to form an organization akin to the Women’s National Aeronautical Association.
Prime Minister MacDonald says he would stand again for Parliament at Seaham Harbor if labor leaders invite him to run. Seaham Harbor labor executives reaffirmed support for another candidate after he requested endorsement. The clash signals a tough race as last election saw 35,615 for MacDonald vs 12,000 for rivals. Cabinet to craft a manifesto urging a free hand in guiding the nation through current difficulties.
Civitan delegates in Gastonia North Carolina on the final day of their district annual convention planned officer elections for next year and to hear an address by Arthur Cundy secretary of Civitan International. Harold Tsehudt of Baltimore Maryland delivered an international president’s address at last night’s session.
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