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Newspaper
Winchester Evening Star
Location
Winchester, Virginia, United States of America
Date
May 26, 1933
Page
8
The Senate passed the steel ribbed Glass banking bill to prevent a banking crisis and establish deposit insurance. It creates a $2 billion insurance fund backed by Treasury and Federal Reserve reserves and prohibits banks from mixing deposit and investment businesses.
Bermuda keeps horse and carriage as the main travel method while other nations move to motorized transport. Hi Ho the sage cautions that pride in responsibility matters less than the thirst for admiration. Tornadoes rank third in deadly risks behind lightning and fire.
John David Gordon an 18 year old from County Line was drowned in the North Fork of the Shenandoah River near New Market while fishing and swimming with four companions. His body was recovered about a half hour later by John W Zirkle with help from others. Dr George W Parrott of New Market attempted resuscitation but failed. He was a member of the County Line Reformed Church. Funeral services will be held at St Luke s Reformed Church County Line Saturday at 2 30 pm with Rev H A Behrens officiating.
Washington lawmakers clash over a public works-industry control bill as the House adopts a procedural rule by a 213 to 194 margin. Democratic bolters ally with Republicans to back a move to recommit and swap in a manufacturers tax, while Ways and Means tweaks aim to close tax loopholes and shift a 3 percent electricity levy.
The two men Gaston B. Means and Norman T. Whitaker were sentenced to two years each for conspiring to defraud Mrs. Evalyn Walsh McLean of 35000 in the Lindbergh baby hoax. Justice Daniel W. O Donoghue imposed the sentences in the District of Columbia Supreme Court.
About 500 in the Strand Theatre attended Strasburg High School’s commencement for the class of 1933. Dr Flickinger of Winchester delivered the commencement address, urging graduates to pursue a definite, beneficial goal with energy and enthusiasm.
Washington reports officials say the United States will arm economically if world efforts at the London conference fail to lower trade barriers. Ministers debate tariff moderation versus isolation and consider farm relief, industrial recovery, and new tariff powers to shape a self contained national economy.
Senate Banking Committee hearings expose that J P Morgan and Company held control via 800000 common shares and 714000 warrants while 600000 preferred shares were issued to Morgan. Calv in Coolidge and other notable figures bought below market stock, prompting questions on influence and disclosure.
A discussion in Washington centers on a letter from John J. Raskob of Wilmington Delaware. The exchange questions whether generous phrases mask plans for mutual advantage involving General Motors and political committees. Whitney refrains from judgment while Pecora and Couzens press for interpretation.
Washington May 25 A demand that Norman H Davis be recalled as Americas spokesman at Geneva and a declaration that the usefulness of Secretary Woodin has ended came in the Senate today from Robinson Ind as a direct reverberation from the Morgan inquiry To a sharp challenge of the authority of President Roosevelt and of Davis to propose a consultative peace pact in Europe Robinson added references to the banking committees disclosure that Davis borrowed from the Morgan house and that with Woodin he was on its favored customers list Senator Tydings Md who promptly answered the Indiamans outburst contended that Daviss going to Europe in 1933 is more calculated in my opinion to keep us out of war than to get this nation into conflict and continued I think that Mr Davis whether he made or did not make loan from JP Morgan and Co has shown a statue of statesmanship for which this world is hungry The man who attacks an Ambassador abroad when that Ambassador is accomplishing signal success is attacking humanity He is sowing the seed of international hate and ill will on which wars thrive We sent Mr Davis abroad to ne
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