28 Feb 1933
Page 1
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Newspaper
Hope Star
Location
Hope, Arkansas, United States of America
Date
Feb 28, 1933
Page
1
The piece argues money as symbol of real wealth and traces banking turmoil across the United States. It cites stock fever, depreciated property, runs on banks, and divergent policy options between the Post Office postal savings and the Reconstruction Finance Corporation, urging stability amid fading public confidence.
Alfred E. Smith told the senate finance committee that a federal bond issue should fund expanded public works, a wartime debt moratorium could boost American foreign markets, and Soviet Russia should be recognized. He opposed inflationary policies and proposed a consolidated federal transportation system with a national secretary for transport. He urged states to call conventions to act on the prohibition repeal resolution.
LITTLE ROCK The Union Savings Building and Loan Association at 200 West Capitol Avenue was taken over for liquidation by the State Banking Department after a conference with Bank Commissioner Marion Wasson and association officers. The board will conduct liquidation under supervision, with borrowers’ installments credited to principal and interest. Director Raymond Rebsamen resigns from other business roles to oversee liquidation. resources exceed 3 million with a 253000 Reconstruction Finance Corporation loan as a preferred claim. Rebsamen and Wasson stress the move preserves solvency, noting loans are protected and borrowers may pay off loans for full credit.
In Knoxville W F Sparks and his orchestra faced a smoky stage when spontaneous combustion in trash beneath the stage fed a fire during a local theatre performance. Sparks and the band were not responsible for the incident.
The Cannon Service Station at Third and Main streets was bought Tuesday by H. H. McGaughy from Hinton Davis. McGaughy, formerly district No 3 maintenance engineer with the State Highway Department, has moved to Hope to settle permanently and enter the gasoline and service business featuring Loreco products.
Firemen returned from extinguishing a large blaze to find their station house beds stripped of quilts and blankets by a thief who entered during their absence.
Glendale inventor Maurice Poirier announces a new interstellar rocket design after two prior moon launch attempts. The device uses gas from German wood as propulsion and aims to create a rocket air plane capable of crossing American skies.
Arkansas banks across several cities moved to restrict withdrawals to 5 percent of deposits or fifteen dollars during an emergency. The Little Rock Clearing House association led the move, with other banks in Hope Camden Pine Bluff and Eudora also joining. Northwest Arkansas and Fort Smith banks reportedly did not restrict withdrawals. A local currency plan was discussed by a Little Rock committee.
Banks in Pennsylvania and Ohio opened for business Tuesday fortified by emergency legislation passed after Monday night. The law restricts withdrawals on old deposits but does not affect new deposits.
The Little Rock Clearing House Association announced that four Little Rock banks and two in North Little Rock will operate under a restricted withdrawal plan as provided by House Bill 450, signed by Governor Futrell. Withdrawals limit is $15 or 5 percent of deposits, whichever is larger, for balances as of last night. new deposits will be segregated and subject to full check at any time.
LITTLE ROCK Governor Futrell extended the deadline to purchase automobile licenses by 15 days. The new cutoff is March 15, giving motorists additional time to obtain required registrations.
In Little Rock the house clashed over the Bailey Thorn utility bill during Tuesday’s session. The measure would create a fact finding tribunal to aid cities in rate fixing, with debate interrupted by a noon recess. Thorn urged the bill as a path to fair rates for consumers. Senate passage of a separate measure to abolish the board of control of the State Hospital for Nervous Diseases and reorganize its administration followed, supported by Senator Ashley as an administration move. The bill passed 19 to 5, creating a governor appointed new board of control and replacing the hospital superintendent with a business manager and chief of medical staff.
Charles E. Mitchell resigned as chairman of National City Bank. James H. Perkins, president of City Bank Farmers Trust, was elected to succeed him. Perkins had become president of Farmers Loan and Trust in 1921 and will assume duties immediately.
Two unmasked men robbed Citizens Bank of Arkadelphia at 4 pm on Tuesday. One bandit was seized by police as the other fled toward Hope in a red car with the loot. The robbed staff and eight customers were ordered to raise their hands. a nearby merchant fired, injuring none but scattering the escape. The captured suspect, about 40, small, pale, 125 pounds, wore overalls but was neatly dressed beneath. The other bandit, believed wounded, escaped with the money. Citizens Bank staff called them experienced professionals.
Berlin reports a late Monday fire at the Reichstag building caused by incendiary acts. A Dutch Communist claimed responsibility, and Hitler with Papen visited the scene as Germany debated emergency rules to curb Communist influence without placing the military in politics.
Miss Nico Gonzales an elevator operator and a passenger escaped serious injuries after brakes failed sending the car down three floors in a El Paso courthouse elevator. An emergency spring absorbed the impact preventing further harm.
The Hope runoff city primary turnout was lighter than the January primary with 2 pm reports showing 453 votes cast and a probable 780 for the day. Ward by ward tallies indicate lower participation, with three contested offices including mayorship between Mayor Vesey and ex Mayor Boyett. polls close at 6 with results expected 8 to 9 pm Tuesday.
The Japanese army seized Shamaoshan, a strategic pass into Jehol from the southeast after a fierce two day battle. They pursued Lingyuan with a second assault while Chinese forces hailed a failed Japanese push at Lingyuan Falls after sweeping through Piepiao and Chaoyang.
Austin travel veteran and Cele brity Attractions tour manager Austin A. Davis announced a Laurant & Co. show coming to town for a March 7 matinee and night. Laurant will appear in person with costumed assistants in a polished production likely to wow younger audiences. The promotion notes Laurant’s global tours and cites Illustrated Magic by MacMillan Co. as a leading magicians reference.
The Aeronautics Branch of the U S Department of Commerce reports 140 miscellaneous air regulation violations in Q3 1932. Offenses break down as 56 for low flying, 53 for acrobatics, 26 for unlicensed pilots with licensed aircraft, and 15 for night flying without position lights.
Patrolman Pettigrew, noted for courtesy, interrupted a theft in progress. He watched the four youths for five minutes before stepping from a doorway and stopping their work as they stripped an automobile.
Ernest G. Liebold, general secretary to Henry Ford, was reported missing to Detroit police early Tuesday. Authorities said a man identifying himself as a Ford official made the request for a missing person inquiry.
In Little Rock the 32 year old Jean Mouton of Nashville Howard county admitted making remarks about assassinating Franklin D Roosevelt and approving the Zangara attack but said he was joking. Police extended custody without bond as Mouton threatened self harm and was restrained while questioned. No charge yet.
Montreal reports Sir William B. Hardy says apples emit emanations that influence other produce. A stream of air passing over apples purportedly ripens bananas quickly. The claim centers on subtle emanations affecting vegetables and fruits.
In Columbus Patrolman Ray M. Wilson nabbed a man who called himself Peter Tannenbau after he walked out of a drugstore with $19. A store employee, Polster, Sohn of the proprietor, slipped away but warned Wilson, who captured the suspect without a fight.
Attorney W S Atkins says Shirley Crank of Garland City could surrender after a bond is agreed, likely around 5000 dollars, while officials plan charges of accessory after the fact from the First National Bank robbery. Sheriff Turquette seeks Crank’s arrest and holds his car for discussion as investigators link Crank to the gang.
Boston shop owner Paul Bogasian says bandits robbed him of ten dollars but he did not report the theft. When they began taking his stock of cigarettes he objected and asked them not to seize the cigars. The bandits left with nothing after his plea.
In Fort Worth a gunman forced six customers to lie on the floor while looting the cash register. He did not harm the two year old son of the grocer Glenn West as the baby pulled at the intruder's trouser leg. The bandit fled after taking the till.
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