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  • Location: Mason City, Iowa
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Mason City Globe-Gazette (Newspaper) - March 8, 1933, Mason City, Iowa TWO CERMAKS BODY ARRIVES HOME City Officials Carry Casket From Train to Hearse Family Weeps CHICAGO March 8 spe cial train brought the body of Anton J Cerinak today back to the city in which he rose from immigrant Troy to mayor A group of city officials carried the flag draped casket to a hearse through a crowd estimated at 20 000 The body was taken to the Cermak home where the mayors wife died five years ago Governor in Delegation In the delegation of officials were Gov Henry Horner city comptrol lerM S Szymczak all of the citys SO aldermen Corporation Counsel William H Sexton other members of his cabinet and department ieads from the city hall Members of the Ccrmak family left a rear car of the train several cars behind the coach that carried the casket His daughters and other relatives wept almost hysterically as the train entered Chicago Workers Bare Heads From the outskirts of Chicago to the downtown station railroad workers stood with bared heads as MASON CITY GLOBEGAZETTE the train passed Tomorrow the body BANKS ABLE TO LIGHTEN BURDEN CcnunDed From 1 Emergency Certificate corpora tion headed by former Governor Alfred E Smith to develop this form of emergency currency But the New York clearing house which had already ordered a sub stantial volume printed held its plan in abeyance Some banking authorities ex pressed the opinion that the only way local clearing house issues of scrip could be made readily ac ceptable in distant cities would be through a gvernment guarantee and it was felt tliat a government guarantee on scrip would be the equivalent to a special issue of fed eral currency for which the federal reserve system was already pre pared Use Government Bonds With the GlassSteagall measure enacted a year ago permitting the using of government bonds as back ing for federal reserve notes in place of the previous 60 per cent backing of commercial paper it was explained that the federal reserve system could legally issue an almost unlimited amount of currency The federal reserve act permits the system to let its gold reserve run below 40 per cent if emergen cies but determination to bring gold out of hoarding was seen in the reg ulation partly reopening the federal reserve banks as well as in will Ha in aent Roosevelts banking holiday state in the city hall and on Friday I Proclamation issued early Monday funeral services will be conducted I so banker3 were convinced that in the huge Chicago staaium clergymen of three faiths fay maintenance of the gold dtacdard was one of the administrations The body will be interred in I cardinal objectives Provide for Resumption family vault in the Bohemian na m tional cemetery after services by I order issued by Treasury Sec three Masonic organizations of retary Woodln providing for re which the late mayor was a member I aumption of reserve bank opera 4 tlons was first made public late ILLINOIS BANKING STATUS CLEARER MARCH 8 1933 MITCHELL S Dak March 8 police officials here today awaited the arrival from Denver of Charles Boett chcr H to Identify U possible the Snnkey ranch 75 miles northwest of here as the place where he was held cap tive 17 days STUDY BLOCKING INSURANCE LOANS fCtinUnurd Fiom Pngft 1 mortgage loans at low interest rates and fver a ong time period By a vote of 35 to 70 the house defeated the Teter concurrent res olution calling for a voluntary re duction of 10 per cent in the sal Governor Orders Holiday inj State to Conform fc National Period CHICAGO March 8 last night by the New York reserve bank and provides among of legislators and chief em things that a reserve bank may not Ployes make advances to a member until Defeat came after it was poiutec the member has exchanged all of Jou tne resolution would have its gold and gold certificates for I Impoaqd a double reduction on the other currency Furthermore sugmembers since their salaries were gestions to tax gold or make it acJ to a 10 per cent reduction ceptable only at a discount after a under a general salary reduction 611 KIDNAPING HUNT GOES TO CANADA Two of Six Men Accused in Boettcher Case Thought to Be There DENVER March 8 ever widening serch for the abductors of Charles Boettcher second spread across the international line into Canada today Two of six persons against whom kidnaping charges have been filed in United States district court are believed by Chief of Police Albert T Clark of Denver to be fleeing the country They are Vern Sankey 41 named by police as the probable leader of the gang which held the 31 year old wealthy broker captive more than two weeks and then col lected 560000 ransom for his safe release and Gordon Elkhorn alias Gordon Best 33 Lived In Canada Police said both men formerly lived in Canada and were employed by the Canadian National railway They were believed by officers to have started their flight from the vicinity of Sankeys ranch 18 miles northeast of Chamberlain S Dak where Arthur Youngberg 37 one of the six charged was arrested The house has been identified by offi cers through descriptions given by Boettcher as the place where he was held during ransom negotia tions with his multimillionaire father Claude K Boettcher Clark directing the hunt said he believed the two were heading into Canada to change into Canadia money the hot 560000 in th 10 days ago Dean Votes Yes Those voting for the resolution certain date have been discussed as measures to bring the metal out of hoarding The New York federal re serve banks have for years made it were Aldrich Alesch Bonnstetter a practice to take names and ad Bruce Craven Davis Dean Dole Danking situation cleared somedresses of persons withdrawing subFabritz Falvey Foster Gittinger what today on the basis of a guberstantial amounts of gold Hanson of Winnebago Hook Hough aatorial proclamation ordering the I Yesterdays experiment in Jensen Koch McKinnon state moratorium to conform with resumption of banking service was Millhnne Mitchell Moore of Benton the national holiday period estabnot widely successful In New York Moore of Harrison Mooty Osborn by President Roosevelt and Chicago great confusion as to Paisley Reed Rice Roe Snyder oe nyer there was ample evidence of inI what the banks could cio Developed Sours Stimpson Teter Thies Thies creased use of scrip in some form I but it appeared today that diffi sen or other in all sections of the state culties had now largely been Ironed Absent or not voting were Good and the Chicago Clearing House out and the opening of the reserve Porter Stanzell United States currency the gang re ceived for liberating the scion of a pioneer Colorado family a week ago They were paid with S3 10 am marked notes Trying to Cross Line I know the men we seek have friends In Canada Clark said I also have information which leads me to believe they are attempting to cross the international line They were attempting to exchange the ransom money for other currency in the United States when the na tional bank holiday cut short their efforts Besides the two still at large Youngberg who has waived extra peri oh of i era treasury officials Gov Henry Homers prociama Vtion issued last night after pro with bankers as extending the banking busi ness through Thursday wnen the national moratorium ends His original order had provided for openingof banks today Col Frank Knox publisher for mer chairman of the antihoarding commission created by such accommodations as clearing was the contention of McFarlane of checks and collection items and Black Hawk that the resolution waa making transfers of credit between a punllcity move Of all members member banks so that necessary to file such a resolution it is the movement of funds between cities Marionwho would be facilitated STRICT LIMITATIONS NEW YORK March 8 CD Strict limitations were laid down commission created by President alnct limitations were laid down Hoover voiced a demand for a 25 bv Secretary Woodin in permitting per cent excise to tax gold into the open The tax Colonel Knox advocated would be placed upon all gold hoarded by private persons or corporations other than bank ing institutions which tiers of the federal tern are mem reserve sys IOWA 10c I5o Last Time Wednesday DOCTOR X with LEE TRACY FAY WRAY LIONEL ATWILL THURSDAY The Devil Plays All STAK CAST FBI SAT TRAILING THE KILLER Childrens Matinee j Sat MonOng 10 Oclock federal reserve banks to rediscount or member banks and supply them with currency for vital needs Before a member bank obtains this privilege it must 1 Disclose the amount of coin and currency it has on hand 2 Explain theneed for additional coin and currency 3 Deliver its gold and gold cer tificates to the federal reserve bank in exchange for other curren cy The only banks to receive such accommodations are those which in the judgment of the federal re serve bank are complying with the spirit as well aa the letter of the treasury regulations TO ANNOUNCE VOTE THURSDAY Counting of the ballots in the Re tail Merchants 5800 gold contest was being completed Wednesday and complete results of the event will be announced Thursday ap pearing first in the noon edition of the GlobeGazette Just drive in here and youll be surprised at the number of your friends you find here buy ing our cut price 68 gas and motor oils ineyre all there for the same get better performance and still save money AND WE CAN PROVK IT 16 ST PLACE tN FEDERAL ST PHONE 509 contest that cost the atate S700 he aaid McFarlane declared that any members so desiring can turn back 5100 and pointed out that a reduc tion already had been provided for in other bills Teter Resents Speech Teter jumped to his feet and de clared he resented McFarlanes im plication and stated the contest had been filed by his opponent Gallagher of Iowa termed the resolution cheap and said no one was claiming the legislators were overpaid Iowa banks operating under the new banking law would be freed of the requirement to pay interest into the state sinking fund by a bill in troduced in the senate today The bill was introduced by E J Wenncr of Waterloo In practice it has been held that banks under these conditions need not pay the usual interest on public deposits but the bill would make the ex emptions specific Ban on Introduction Among other bills introduced be fore the ban on individual introduc tion waa put in effect was one to modify the law on granting phar macists liquor permits This bill by D W Kimberly of Davenport would permit a permit for sale of intoxicating liquor for medical use to be granted to a druggist in case he has not been convicted of a liquor offense with in two years The present law bars insauance of a permit in case of any prior conviction Homer Hush of Essex introduced a bill to require the highway com mission to report its biennial pri mary road construction program to the legislature regularly for ap proval A statement of revenues and maintenance charges would also be presented and alterations or the primary road system would be subject to legislative approval Thieves Get Liquid Assets MILWAUKEE March 8 2ne are Sieves who stole 1500 pounds of molten tin from an enameling company plant They poured the tin into molds and wait ed for the metal to cool before they trucked it away dition and is being returned here hese are named in charges filed by Ralph L Carr United States district attorney Mrs Ruth Kohler 39 Mrs Vern Sankey mother of two children and Carl Pearce 36 All are held ir jail here Carr said the charges are among the first filed under a new federal statute known as the Lindbergh law which allows a federal judge virtually unlimited authority to im pose heavy sentence upon convic tion Urge Trading Frozen Gold for Currency WASHINGTON March 8 An invitation to trade frozen gold for currency to finance essential ev eryday affairs such as the meeting of payrolls and food purchases was put today before the vast federal reserve system The a direc in the form of new regu lations sent to federal reserve banks by Secretary Woodti of the treasury In a word he told reserve banks they could give currency to members for absolutely necessary purposes in exchange for gold or gold currency Gold Virtually Useless Since President Roosevelts dras tic proclamaton Sunday night the gold the reserve member banks held had been so locked up as to be vir tually useless for currency pur poses Under the new regulations however it may be traded to the reserve banks for currency to carry out the limited operations already approved by Secretary Woodln There were Indications that this new goldcurrency exchange order was to be coupled with an effort to obtain expansion under the Glass Steagall act which became law t year ago Under this act reserve banks were authorized to issue cur rency based on 40 per cent gold and 60 per cent government obligations The old law required the 60 per cent to be supplied by eligible commer cial paper and it was argued that currency expansion under that pro vision would tend to restrict cred by tying up more of that class o paper Wider Utilization Hoped Until President Roosevelt de clared his gold embargo however few banks had taken advantage o S i I DEAN HAS RECOVERY PLAN Favors Partial Guarantee of Deposits Reduction of Gold Dollar IOWA CITY March 8 emergency legislative measures which will positively lead to econo mic recovery were advocated to day in a speech by Dean C A Phil lips of the University of Iowa col lege of commerce Dean Phillips said he favors a partial guarantee of bank deposits up to 90 per cent This should be mandatory for national banks he said and optional for state banks He asserted the results would be to practically force the state banks in to federal supervision thus provid ing unified federal banking control The commerce dean also suggest ed reducing the weight of the gold dollar from 258 grains to approxi mately 15 grains pointing out it would put the dollar on about a par with the English pound sterling He contended that this would increase the demand for United States pro ducts abroad and be the greatest aid to agriculture Dean Phillips who was invited to appear before the senate finance committee recently sent his sug gestions to President Secretary of Treasury Woodin and Secretary of Agriculture Wallace IN THE RADIO WORLD DRAFT PLANS TO EXPAND CURRENCY ConUnued From fuse 1 Roosevelt plans to keep the na tional gold supply safe in vaults until he feels the situation is in hand The views of the busy chief ex ecutive who assumed office laat Saturday noon with the banks of the nation closed were given in formally today by him to news papermen who jammed his office Dressed in blue suit and blue tie Mr Roosevelt appeared cheerfui as ever as he shook hands with each of the correspondents and then parried question and answer with them He ruled out all written ques tions and told the newspapermen he was ready to discuss with them In a familiar way all government prob lems Answers All Questions He said he would not guarantee to answer all questions for various reasons but he did answer all that were put to him today and almost without exception these related to the trying domestic economic situ ation Mr Roosevelt however did not permit direct quotation He made It plain that as a basis of sound currency he plans to see that the government does not go any farther into debt He has not yet started his mes sage for congress and he does not expect it to be ready until shortly before noon tomorrow when It will be sent to Capitol Hill Mr Roosevelt declined to discuss whether the United States was on or off the gold standard 4H Club Elects FLOYD March 4H club elected President Margaret Hol land vice president Ardith Hagar ty secretary Agnes Haldrack re porter Ruth Hagarty historian Jean Tollenabee Buys Bank Building THOMPSON March First National bank building and fixtures were bought Monday at auction by Chris Jensen for msfiale Do Not Delay Order immediately and we can deliver immediately Our de livery service is as dependable as the quality of our com modity Every Ounce Real Heat Chapin ONeil Coal Co Phorie 1608 302 South Monroe Ave the opportunity to use excess gok for additional currency Admin istration officials apparently hoped that with the permission to transfer free gold to federal reserve banks and get currency in its place a wider utilization of this power would result It was known that Senator Glass of Virginia ardent opponent of any thinghe considers inflation had urged a greater use of the permis sion contained in the GlassSteagall act in place of emergency steps BANKS CONTINUE TO MAKE CHANGE Continued From Page 1 ing prompt advice as to progress in the national capital acting Gover nor Kraschel said He added that within a few days a new and sounder banking structure will arise Cofthe service of the nation The statement was as follows Closed in Conformity All Iowa banks are closed in strict conformity with the state proclamation The splendid coop eration that they have shown in up holding our hands gives us hope of obtaining release of Iowa bank money in Chicago and New York It is perfectly obvious that if some our banks were to disregard our proclamation and permit withdraw als of cash our position would be lost forever It is unfortunate thatAmericas business should be so paralyzed but Iowas position Ig extremely strong in such a crisis We have food products that the remainder of the country must have and we would be weak indeed if we did not demand the creation of a sound currency for release of our own funds now in city banks befure normal business is resumed Seek No Advantage We do not seek an unfair advan tage of our sister states but the present bank crisis is due to ex ploitation and unsound banking practices in higher circles over which we had no control We are not to blame for this situation therefore we would be weak if we failed to exercise our position at this time for the protection of our own people President Roosevelt is moving forward boldly and in a construc tive manner Governor Herring is in hourly contact with us advising us as to the progress Within a few days a new and sounder banking structure will arise for the service of the nation We need to be pa tient but a few days more and I commend the loyalty of our bank ers and the patience of our people in the maintenance of our state program FILM PRODUCERS SLASH SALARIES Cut Office Workers 25 to 50 Per Cent Would Extend Move to Studios NEW YORK March 8 was learned definitely today that members of the motion picture pro ducers and distributors of America have put into effect an immediate cut of 25 to 50 per cent in the sal aries of all workers in the New York offices and various exchanges throughout the country The cut also applies to the work ers of the offices of Will H Hays lead of the producers and distrib itors organization and efforts are being made to extend it to all studios It will be effective for Ight weeks Salaries of 550 or more were cut 50 per cent with the minimum set at Salaries below were cut 25 per cent with the minimum set at 515 WEDNESDAY MARCH 8 Central BranoaTQ programs to key and Das chain or groups Hereof unleaa specified coast to coast c to o designation Includes alt available Programs to change P M Dy tha Associated PWSM MlllVBAF NETWORK weal key weel wtlc ivtag wcBh wl wilt wfbr wrc wgy wbe wcae wtam wwj Midwest wmao wci fcsd woewho wow wdaf NORTHWEST A wlb kstp webc wday hiyr ckgw wptf wwns wla wjax wfla W3uo wlod wsm WOTC wsb wapl wjdx wsm kvoo wky wfaa wbap kprc uoal ktba kth kdyl Heir kglil kfl kgw komo kbq kpo kec KJr kga kfsd mar lieu Davis c c Jerry c Knights Sketch Taylor Blue Songs Goldbergs Sketch Murray Comedian Mystery Drama Symphony Concert Pipe to c c Revtlla Program Weeks Lopez Orch Krnles Orch OBHWAnu NETWORK wabo key wok ivcao waab wnae tvgr ivkbw wkrc whfe ckok wdrc wcau wlpwfaa wjas wean wfb rcspa wJS7j Midwest wbbm wgn wfbm kmbc wcco Itmox wowo EAST AND wbp wlbi when wlbz wrea woro clrb ckao wisa wbro wqam tvdod wno kfra wreo wlac wdsu wtoc krld wn ktrh ktaa waco boma wdbo wodi wbt wdae wble whas wlar wdbj wjsva wbcm wsbt wcah wmbd wtaq rckbh kfab wlsn ksej wlbw km wmt wkbn wgl ku kon ksl VAnno taut koln kjb kol kfpy kvl kern knu kfbk kwz e Devil only only Eotween the Jack Har riet Lyman Crosby Hnyton to c c and Pennsylvarilans c c and c Jonea to c Duchln tcc Pollack to c only NIlfMTJZ NETWORK wji key wbzwbza wbal wham kdka wgar wjr wsvr Mldnest wcky kyw kfta wenr wls kwk kwcr koll wren wmacj kso NORTHWEST wlba CLOSED BANKS TO PAY GlobcGuzette Washington Bureau WASHINGTON March million and a half dollars which Iowa banks held in trust for deposi tors following enactment of the state a new bank law will be re leased without restrictions of na tional bank holiday the treasury ruled today New departments were opened in closed Iowa banks to receive depos its to be held In trust ready on demand at any time and some were redeposited in New York and Chica go banks National regulations wer preventing the state from keeping its solemn pledge the treasury rul ing reads The permission granted that de posits heretofore received by any banking institution pursuant to agreement or legislative authority providing for segregation and re payment without restriction may be paid on demand includes any bank in which any such deposits have been redeposited by or on behalf of the receiving bank in accordance with such agreement or legislative authority TWO JAILED ON FEDERAL CHARGE Robert Hartley ana Laurence Kimener waived to the federal grand jury on tho charge of violating the Dyer motor vehicle act before Charles W Barlow United States commissioner Monday afternoon The pair was arrested by R T Noonen agent for the bureau of in vestigation at St Paul who charged them with stealing a car in Wells vine Mo and bringing it to Iowa Hadley and Kimener were taken to the Franklin county jail at Hamp ton to remain in custody until their case is taken up by the grand jury NEED A BUILDER W HEN youre mic and in need of a blood tonic weight below normal and you feel tiredout and weak follow the advice of Mrs Nellie Davis of 1804 Miami St Omaha who aiys When I was a pirl I WM in a very weakened rundown condition My blood was impoverished and my com plexion became quite sallow and yellow I alao was troubled with liver complaint poor felt like eating and had siclc hcadaches but Dr Tierces Golden Medical Discnvpry butit me up rid me of that weakened condition I ate better slept bt tcr and felt belter in excry way Wrlto lo Dr rierrni Clinic Buffalo Ff Yj far free advice Tubes Tested FREE In Our Store We Repairand Service All Makes of Radios Vi co EVERYTHING IN MUSIC 24 North Federal Thane 798 tcatp weba waay Kfjr ckgw cfcf wptf wwno wla wjax wfla tvsun wlod WEU vvmc wsb wapj wjdx wsmfe tivoo wky wfaa wbap kprc woaJ ktba kthx kdyl kglr hfihl EACUIO komo kit Kpo kwa ku kjr kga fcfr JtUi Martin Orch X Sisters Songff only only Crime Club Mystery Lees Leaders Doctor Sketch Holmes Adveaturt to c HolJywood Skit find Sade Comedy Act Magic of the Air n1 Queens and 3 Jacks Singers Chorus Berntes Orch rpt FJshers Orch THURSDAY 7 a ReitQrts a ng News Flos h tf a Music Shop and Carillon 9 o at Red Gate Rutb Galvln 10 a Mrs Henry Ness 12 Reporter L R Combs p Crops Question Box Prof n D Hughes p and News Review 4 p state Depart ment of Health LUDENS SECRET FORMULA GIVES Cbuqk LUDENS Menthol Cough Drops Cash and Carry Cleaning Prices 25c 40cUP Mens Suits Womens Dresses PHONE 49 MODELUNIQUE BATTERIES CHARGED MasGh CityBut tetfj Electric Company L E Valentine 304 2nd S W L R Probert Phone 389 Free Instruction and Demonstration in HOME DECORATING THURSDAY AND FRIDAY MARCH 9 AND 10 Ixwe Bros Factory Representatives in Charge Everyone Invited Special Low Prices on Lowe Bros Interior Paints CURRIEVAN NESS CO Step Right Over Here Saturday Night MARCH 11 and Enjoy This DANCE If you dont have fun as you go youll feel old and you will soon look old Dont sit around and worry Come over here and have a big time Only Were Doing Business As Usual at the IP G Checks will be accepted in payment of accounts as well as in payment for merchandise pur chased Charge accounts may be utilized as usual in the purchase of appliances and other items of mer chandise All local scrip will be accepted in payment for service and merchandise Thank You ;