Richard Olney Defends It Quaker City Attorney Contends Banks Control Funds
Richard Olney argues that bank directors must control their funds amid a proposed cotton pool linked to Federal Reserve deposits. The plan, backed by Treasury pressure, would limit loans to six cents per pound and shift oversight away from individual bank directors, provoking legal challenges and concerns from bankers about fiduciary duties.
MENTIONED IN THIS ARTICLE
Treasury Department
Cnese
Cotta
Supreme Court position on plan not violating antitrust law
Richard M. Olney, former secretary of State, argues the proposed cotton pool is a public relief measure rather than an interstate restraint. The plan envisions a $135 million fund to loan at a uniform rate secured by cotton pledges, with profit potential but aimed at aiding cotton producers hurt by wartime markets. He contends the means involve private contracts, not interstate commerce, and thus fall outside Sherman Act reach.
MENTIONED IN THIS ARTICLE
Quaker City
Johnson
Federal Reserve Haiks
McAdoo
Wesetue
Amatan
Mass
Richard Ainev
United States
Asker
Shernolin
Bank Directors Should Control Cotton Pool, Johnson Says
Special to The Washington Post from Philadelphia reports John G Johnson, a noted lawyer, views the cotton pool as illegal and argues bank directors must retain custody of funds and control lending decisions. He contends shifting funds to outsiders forfeits bank discretion and risks improper lending practices under scrutiny of the Sherman act. CONTINUED ON EIGHTH PAGE.
MENTIONED IN THIS ARTICLE
Washington Post
Philadelphia
John G Johnson
Johnson
Mr. Johnson
Booming for Herrick as U S eyes 1920 bid
A Washington Post dispatch from New York outlines a possible push to nominate Myron T. Herrick former Ohio governor and U S ambassador to France at the Ohio Society of New York annual dinner at the Waldorf Astoria in January. Friends and Ohio men plan a strong showing to boost Herrick for the Republican ticket with questions about national preparedness and arms urged to be addressed at a Gardner resolution hearing.
MENTIONED IN THIS ARTICLE
Herrick
Ohio
New York
Washington Post
Myron T. Herrick
France
Ohio Society of New York
Waldorf-Astoria
Hertick
Qhioa Society
United States
Garrison
Daniela
House
Gardner
Hanging Bee Plan Brings Executions to Public Square
Gov. Hunt in Phoenix selects heads of eleven foreign corporations to witness the December 19 hangings of eleven murderers. The plan aims to test opposition to capital punishment and proceed despite petitions from churches and groups. The list includes Walter Douglas of Phelps Dodge and El Paso and Southwestern, Epes Randolph of Southern Pacific, and Dwight B. Herd of the Phoenix Republican, among others. The administration cites voter support for capital punishment and continues toward a public hanging event.
MENTIONED IN THIS ARTICLE
Washington Post
el Paso
Tex
Arizona
W. P. Hunt
Walter Douglas
Phelpse Dodge Corporation
New York
el Paso and Southwestern
Epes Randolph
Southern Pacific Lines
Mexico
Dwight B. Herd
Phoenix Republican
Mastern
Slant
Phoenix
Ariz
Gov. Hunt
Turkey Forbids Enemy Citizens To Leave Ottoman Territory
Paris dispatch from Athens reports the Turkish government bars all triple entente subjects from exiting Ottoman lands except women and children under 18. The order mirrors wartime controls and affects residents of allied nations within Ottoman rule.
MENTIONED IN THIS ARTICLE
Turkey
Ottoman
Paris
Athens
Havas
Germany admits check in Poland as Zeebrugge battle rages
Germany concedes a check on Polish movements amid a broader frontline clash stretching about 400 miles from Zeebrugge to the battlefront. Allies and Axis forces trade blows as Frenzied front lines report heavy shelling and shifting positions.
Portugal to aid the Allies in war effort
Lisbon reports Portugal will cooperate with the allies and the war minister will issue a decree for partial mobilization. In another item, British battleships bombarded Zeebrugge and Heyst, causing heavy damage at military sites. German opposition was feeble and the ships returned safely.
MENTIONED IN THIS ARTICLE
London
Lisbon
Portugal
Admiralty
Zeebrugge and
Heyst
Crockerland Doomed. Peary Claim Shown Mirage
The Crockerland expedition found no land where Rear Admiral Peary had located it eight years ago. After a 1200 mile polar voyage from Utah, Donald B. McMillan and Ensign Fitzhugh Green confirmed the sighting near Cape Thomas Hubbard was a mirage, concluding Crockerland likely does not exist within the originally claimed range. The news was released by the American Museum of Natural History via Edmund Otis Hovey.
MENTIONED IN THIS ARTICLE
Washington
New York
Crockerland
Robert E. Feary
Utah
North Polar
Cape
Cape Thomas Hubbard
Admiral Peary
American Museum of Natural History
Hlt
Edmund Otis Hovey
Hrogd Rasmussen
Hovey
Donald B. McMillan
Fitzhugh Green
Polar See
Crockland
Thomas Hubbard
Messrs
McMillan
Green
French Government to Extend Moratorium Likely
A Bordeaux dispatch to the Journal Des Debate reports the French government plans to extend the moratorium for another period before the month ends. The note cites authority in Paris and indicates a likely formal announcement forthcoming.
MENTIONED IN THIS ARTICLE
Paris
Journal Des Debate
Bordeaux
Germans Hurled Back to Line Beyond Lodz Report Says
London reports decisive battlefield news as German forces under Gen von Hindenburg are described as retreating near Lodz with reinforcements being rushed. Petrograd notes Russian successes on the Czenstochowa Cracow front and 6,000 prisoners taken on Nov 22. The Times says Germany’s army of 400,000 may be split and driven behind disjointed corps as a retreat widens toward Posen.
MENTIONED IN THIS ARTICLE
Carpathians
Przemysl
Lower
Unasec
Poar- Vee
Lodz
Teutons
von Hindenburg
Petrograd Bulletin
Posen
London
Russia
Germany
Petrograd
Vistula
Warta
Paris
Matin
Berlin
Czenstochowa-Cracow
Russian
Poland
Times
Vara
Lessea
Brezeziny
Tuazyn
Wiatula
Strykow
Zeterz
Szadek
Zdunska
Wols
Wozniki
Zapata closes in on Mexico City
Mexico City reports evacuations as Gen. Lucio Blanco’s forces press toward the capital. Villa’s troops approach from the north while Blanco’s wavering moves fuel fears of a peaceful takeover turning against him. Consuls and officials monitor the uncertain telephonic link to Vera Cruz as foreign lands worry over the city’s fate.
MENTIONED IN THIS ARTICLE
Mexico City
Lucio Blanco
Zapata
City
United States
Blanco
Villa
George ©. Carothers
Queretaro
Mexicali City
Blanfee
Vera Cruz
Roberto V. Pesqueira
Gen. Carranza
Washington
Rafael Zubaran Capmany
Enrique C. Llorente
el Paso
Madero
Also Mentioned on This Page
John G. Johnson
Richard Olney
Wawtnee
Cotton Pool
Reserve Board
Wis
Army
Navy
U.S
Foe
Willam T. Truesdale
Society
The
Lackawanna Railroad
Congress
Daniels
General Board
Committee of Naval Experts
Eneral Board
Massachusetts
Zeebrucce
Peary
Admiral
American Museum
Rasmussen
Museum
Ac Ees
Wearrington Ilth
Pronito Fp
Sayville
L. I
Warsaw
Belgium
Lombaertryde
Zeebrugge
Czenstochowa
Cracow
Lieberts
Tannowits
East Prussia
Liebert
Tannowitz
Morocco
Aghtimg
Khenifra
Reporta
Madrid
German Oficial Press Bureau
Italy
Genoa
Marseille
Rome
England
Sucessa Snl
Columia Theater
Dhchlyr
Vista
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