Government reports record deficit amid tax and debt details
Acting secretary Dean Acheson announced the treasury ran a 1.786 billion dollar deficit for the fiscal year, with receipts at 2.08 billion and expenditures far higher, despite tax hikes and beer taxes. He cited debt increases, reduced spending, and weaker income tax take as depressants on revenue, while noting some business improvement and large debt retirements. Continued discussion promises more page four coverage.
MENTIONED IN THIS ARTICLE
Wasitington
Jily
Treasury
Dean Acheson
le Fig
Acheson
Turbe
Cononi
Tet Payane
Reconstruction Finance Corporation
Lege
Italian Flight Tragedy Sets Back Balbo Squadron
Amsterdam dispatch reports the arrival of the Italian air armada en route to Chicago under Air Minister General Balbo. A sea plane crash in the water killed Sergeant Quintavalle and wounded three crew members, including Balbo. Balbo and companions were shaken by the loss, while details remained conflicting and initially denied.
MENTIONED IN THIS ARTICLE
Amsterdam
Airy
Armade Vo
Chicago
Kale’ Balbo
Steikinty
Quintavelle
Balbo
Vite
Holland
Londonferry
Treland
Quintsvalle
Turner Sets New East West Time
July 1 AP Col Roscos Turner veteran Hollywood pilot rockets from New York to set a new transcontinental speed record in 11 hours 30 minutes winning the National Air races. Jimmie Wedell finished 33 minutes behind. others faced crashes injuries and disqualifications as the gruelling race continued toward page four.
MENTIONED IN THIS ARTICLE
Los Angeles
New York
Atlantic
Pacific
Col
Roscos Turner
Uallywood
Jimmie Wedell
Lew Giieans
Tirner
Wedell
Amelia Barhars
Russell Boardman
Istanbul
Indianapolis
Lee
Gehlbach
Russel Thaw
Thaw
New
Page Four
Prominent Kingsport Attorney Nominated for U S Marshal Post
James B. Worley a noted Kingsport attorney is nominated to be United States marshal for East Tennessee. The appointment, recommended by Governor McRae, awaits presidential confirmation. Chester R. Hackney of Knoxville named chief deputy marshal for the Eastern Division. both Tennessee senators endorse Worley and Hackney. Worley chairs the First District Democratic Congressional Committee and is active in Sullivan County politics.
MENTIONED IN THIS ARTICLE
James B. Worley
Kingsport
Fennessee
Su G King
Troy
Ranneth D. McRelar Bachm
Duc
Hackney
Chester R. Hackney
Knoxville
Marshal
Vershal
Tewnessee
Worley
Black BR
Sams
Bluff City
East Tennessee
Chaiman
Democratic Congressional Committee
Sullivan County
Hitler to Leave Catholic Church
July 4 Spalin reports Chancellor Hitler plans to join the new national Protestant church of Germany, leaving Roman Catholic faith as Protestant unification completes. Nazi church leader Ludwig Muelley says the move follows Hindenburg’s appeal to settle differences between government and Protestant groups.
MENTIONED IN THIS ARTICLE
Spalin
Hitler
Germany
Hindenburg
Albert Erskine Motor King Ends Life
Russell Mushkin longtime Studebaker executive ended his life at his estate two miles from town. He shot himself in the heart after a note to his adopted son Albert Russell Erskine Jr. The Studebaker plant was in receivership and Mushkin had recently left control amid merger entanglements. Erskine had risen from bookkeeper to president and was a Notre Dame trustee. the death follows his earlier ties to the Studebaker Corporation and White Motor merger issues.
MENTIONED IN THIS ARTICLE
Albers
Russell Mushkin
Strudebaker Corporation
Albert’ Russéil Erskine, Jr
Russell
Erskine Estate
Studebaker Corporation
Erskine Golf Course
Notre Dame University
Studebaker
Thomas W. Slick
South Bend
Ruskine
White Motor Commany of
Cleveland
Myraking
Board of Tax Appeals
Erskine
Tennessee Valley study undertaken by universities
The Tennessee Valley study, directed by Dean James D. Hopkins and Dr. Howard W. Odum, was announced to coordinate regional university efforts under the Southern Regional Committee of the Social Science Research Council. Universities of Tennessee and North Carolina lead research, with projects at Tennessee and North Carolina campuses to assess regional resources, people, and institutions for Roosevelt’s planned river valley development.
MENTIONED IN THIS ARTICLE
Knoxville
Roosevelt
Dean James
D. Hopkins
University of Tennessee
Howard W. Odum
University of North Carolina
Southern Regional Committee
The
Social Science Research Council
T. J. Wooster
F. M. Hamer
Universities of Tennessee
North Carolina
Vanderbilt
Weather Summary for Tennessee and Virginia Regions
Readings show generally fair and warm conditions in Tennessee with possible scattered afternoon thundershowers Sunday and Monday. Virginia region Forecast indicates thunder showers likely Sunday and Monday with cooler air in the northern portion Sunday night. Temperatures report high 93 yesterday in Tennessee, 85 in Virginia. low around 68. Readings taken at 6 pm daily.
MENTIONED IN THIS ARTICLE
Tennessee
Virginia
Speedier Action on Codes Sought in Washington
Washington July 1. Administrat or Hugh S Johnson pushed for faster presentation of minimum wage and maximum hour codes. He returned from a New York trip after talks with steel makers about industry disputes. Cotton textile code seen as most advanced. many smaller industry codes await hearings. Officials fear delays could blunt the aim to boost purchasing power this summer through wage rises and shorter hours. The cotton code proposal envisions a permanent committee to advise Johnson and certify plant expansions to balance production during the emergency recovery period. Continued on page four.
MENTIONED IN THIS ARTICLE
Washington
Hugh S. Johnson
New York
Johnson
National
Courts Asked To End Talmadge's Military Regime
Atlanta July 1 AP A new legal move seeks to validate Governor Talmadge's martial rule by a federal court ruling on a pending injunction. Beckham Lawler Construction Co accuses Talmadge of violating the due process clause by hindering a highway contract. five days must pass before a hearing on the issue due to a three judge court setup.
MENTIONED IN THIS ARTICLE
Atlanta
Larow
Th.madge
Highway Department
Federial Courd
U.S
E. Marvin Underwood
Tilmadge
Beckham Lawler Construction Co
Penny
Lab
W. C. Vereen
Highway Board
Osly
Underwood
Barnett Vereen
Tris
Povernos
Barnets- Vereen
M. J. Reynolds
Counel
Governor
Ithe Highway Department
Plaintiff Highway Department
Barnett-Vereen
Talmadge
State Department
County Tax Rate To Be Set Monday At Court Meeting
Sullivan county court plans to set next year’s tax rate at a Monday session in Blountville. The county budget for the coming year includes a 30 cent levy increase to fund two new county schools costing about 70000 dollars. The 1932-33 tax rate was 1.30 dollars, down from 1.60 the prior year. The final assessment was completed by the tax equalization board in Blountville, and the board’s adjustments will be turned over to the court tomorrow morning.
MENTIONED IN THIS ARTICLE
Sullivan County Court
Pias Ox
Fie
Vene
Blountville
Amy Tax Agsessor & Hy Motteen Keady Sus
Tax Equalization Board
Kidnaping of Chicago Barber Jake Factor Shocks City
In Chicago on July 1 Jake Factor known as the Barber and party figure was abducted in the presence of his wife and son Jerome, a recent kidnapping survivor. Gunmen dragged Factor from a car after a Mortonlove goodhouse party, while Mrs Factor and Mrs Al Epstein watched in distress. Jerome, driving the vehicle, was sent away as the abduction unfolded.
MENTIONED IN THIS ARTICLE
Chicago
Jake Factor
Jerome
Mortonlove
Factor
al Epstein
Epstein
Wallace Urges Cotton Producers to Pledge Acreage Slashes
Secretary Wallace urged cotton producers to sign offers to reduce acreage under the program that could disburse about 100 million dollars in cash benefits over two months. He noted 22,000 workers aiding, with contracts due by July 5 and possible extensions. The plan aims to cut planted acreage and evaluate campaign progress for a wind-up next weekend.
MENTIONED IN THIS ARTICLE
Washington
Wallace
Agriculture Secretary
President Roosevelts firm rejection of dollar pegging plan
President Roosevelt rejected the monetary proposal aimed at stabilizing the dollar and guiding world finance. The American stance, communicated to British and European officials, insists any acceptance would require substantial revision before the conference can proceed. The text urged rapid stabilization while preserving gold standard parities for economies on the standard.
MENTIONED IN THIS ARTICLE
Lonnon
Roosevelt
Raymond Moley
Oforeat
Britain
Americar 2Bassy
France
Moley
United States
Tt Jg
Also Mentioned on This Page
U. S. Marshal
James R. Worley
Ireland
Turner
Albert Erskine
King
Tennessee Valley
South
Cove Creek
Georgia
Caldwell
Jake “the Barber’ Factor
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