07 Mar 1933
Page 1
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Newspaper
Sheboygan Press
Location
Sheboygan, Wisconsin, United States of America
Date
Mar 07, 1933
Page
1
A historical reminiscence contrasts past financial crises with today. Citing 1893, 1907, 1914 events, the piece recalls gold standard suspensions, bank failures, price rises, and public anxiety, noting Congress actions and presidential responses as recoveries began.
The funeral train bearing the body of Mayor Cermak left Miami for Chicago with hundreds of mourners and floral tributes. Police stood guard as the car carried Cermak’s casket toward the city, where he would lie in state. The train also bore daughters, a sister, and close relatives among the passengers.
Federal action lifts some deposit restrictions and authorizes clearing houses to issue scrip after the national holiday. Banks reopen with deposits flowing, scrip plans emerge in New York and Clarksdale, and states move toward currency measures. Treasury issues 13 reopening regulations as Washington approves guarded resumption.
A federal grand jury indicted a Sheboygan attorney on charges he took an excessive fee in a compensation case. The document cites a $300 fee for a $1,425 claim for a veteran's minor child, versus a legal fee of $10.
Oshkosh Wisconsin Mrs Elizabeth Dettlaff age 88 was critically burned when her clothing ignited from a lighted candle. She was rushed to Mercy hospital where attendants said she was not expected to recover.
Under regulations issued by Secretary Woodin banks are allowed to handle drafts related to food and transportation, accept payments, make change, grant access to safety boxes, cash U S treasurer checks with no gold payouts, return unposted items after hours, and manage trust funds with no gold payouts. They may perform routine banking functions to support community needs in food, medicine, relief, payrolls, and employment, and may deposit collateral to secure foreign advances. Banks may act as trustees and executors with no currency payout, and clearing houses may issue certificates against solid bank assets, subject to revocation.
Madison factions for and against prohibition prepare for delegate election to the constitutional state convention on April 25. Petitions must be returned by March 14. Wet slate includes Halbert L. Heard and John A. Frey. dry slate chaired by Rev. E. C. Dixon lists 15 members from diverse towns and colleges.
Governor A G Schmedeman and advisor Leo Crowley will visit Milwaukee on a Washington return. Lincoln State Bank resumes operation under treasury rules after a moratorium, paying out deposits made after state moratorium began. About 100 Wisconsin banks were moratoriumed. scrip printing for 25 million dollars proceeds under guard by Milwaukee Clearing House.
Sheboygan banks have been authorized to accept special trust accounts and to permit checks against them under Clearing House association rules. Checks must be marked Special Trust Account and may be deposited only with U S government checks and currency. Banks are restricted from paying out gold certificates or gold coins amid ongoing discussions on scrip.
Peggy Odders an 18 year old Racine resident was shot while at a kitchen window. She was taken to St Luke s hospital in serious condition after a .38 caliber revolver fired from darkness. Police questioned local admirers and searched for a jealous suitor. diary and letters may yield clues.
Mrs Thad Trowbridge 71 was a passenger in a Ford which turned over on Wilgus road about 10 30 p m Monday one mile west of Sheboygan Falls. She suffered a fractured vertebra and was taken to St Nicholas hospital where doctors expect a prolonged recovery due to age. Her seventy second birthday comes next week.
Washington reports Democratic leaders drafting an emergency banking program weigh heavy tax or severe penalties to deter hoarding. No final decision yet.
City council votes to put a referendum on a study about acquiring and operating a municipal electric plant and discharge system. The plan estimates a $1,650,000 investment with $1,328,050 net revenue over ten years and $0.03 per kWh sales after a 20 percent rate cut.
Police announce the arrest of three men and three women on charges of kidnapping Denver millionaire Charles Boettcher. Boettcher was held 17 days and released after an $80,000 ransom. Suspects include Carl Pierce, Ruth Kohler, and Marveline Kohler. A Scotch‑accented guard linked to the case was identified, with two others still sought. They aided an air‑borne chase to a South Dakota hideout. Detectives traced the suspect via Mitchell, South Dakota.
A charge of obstructing justice against Carl Bradberry was dismissed in Chicago Felony Court at the request of Assistant State's Attorney Charles S. Dougherty. He cited insufficient evidence after a three month inquiry into the slaying of Frances Schildhauer. Dougherty said the state may reopen if new evidence is produced. Captain Edwin Schildhauer’s widow witnessed the crime.
Governor A G Sichmedelman after meetings in Washington with the treasury and officials including C E Broughton and Leo Crowley expressed belief the Wisconsin banking situation will soon improve. He did not reveal details of talks but noted cooperation with federal agencies and stressed the soundness of Badger financial institutions.
A Wall Street banker attended the inauguration but avoided the crowd. He stayed in his suite and sent his chauffeur to sit with dignitaries. The chauffeur later said he enjoyed sitting near Gibbes McAdoo and was amused by him taking the chauffeur’s cigarettes.
Giuseppe Zangara, charged with the Chicago mayor slaying in the Roosevelt assassination attempt, had arraignment postponed to March 9 by Judge A Thompson after defense motions. Zangara displayed defiant remarks and said little in court, while attorneys sought time to confer on his plea to first degree murder.
In Somerset Wisconsin early today a bandit was seriously wounded and another captured after local citizens surrounded a confectionery store during a robbery. James Keeley 18 Minneapolis was hospitalized in Hudson Wisconsin. A J Lexcen 28 Minneapolis was captured. Police and witnesses report the incident unfolded after a telephone operator and night watchman alerted for help.
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