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Show Xeits Review of Current Events O. K. FOR PUMP PRIMING House Passes Three Billion Spending Bill With Only Few Alterations Insuring Farm rMortgages . INSURING of farm mortgages hai been begun by the Federal Housing Hous-ing administration under Steward McDonald, administrator. Amendments Amend-ments to the national housing act passed In February permit the administrator ad-ministrator to ' insure mortgage loans made on farms on which farm houses or other farm buildings are to be constructed or repaired provided pro-vided at least 15 per cent of the loan proceeds Is expended for materials ma-terials and labor on buildings. Farmers who operate their own farms, Individuals who rent their farms to others, and farm tenants and others who contemplate the purchase pur-chase of farms are all eligible to borrow from approved Institutions. The maximum amount which may be borrowed in relation to the appraised ap-praised value of farm property Is 90 per cent for loans of $5,400 or less, between 80 per cent and 90 per cent for loans from $5,400 to $8,600 and 80 per cent for loans exceeding $8,600. 'I' Wheat Loan Program "ANLY a major crop disaster like a nation-wide drouth can prevent pre-vent the United States from having hav-ing the largest supply of wheat this i' M l .V-'- . - i " Jt 1 - V-j .....-C' y;,: j p..: jwiiwiiii'8apa summer in the country's coun-try's history. Consequently Con-sequently the Department De-partment of Agriculture Agricul-ture is preparing to announce a huge wheat loan program designed to prevent prices from falling to extremely low levels. Under the new crop control act loans are mandatory if the 1938 yield ex- Congresswoman Mary T. Norton of New Jersey, chairman of the labor committee, affixes her signature the first one to the petition which was signed by 217 oiher bouse members to force house consideration of the revised wage-hour bill. With Mrs. Norton are, left to fight. Congressmen R. J. Welch of California, J. Burrwood Daly of Pennsylvania, Arthur Ilealey of Massachusetts and Edward Curley of New York. Sec. WaUace SUMMARIZES THE WORLD'S WEEK C Wetern Ntwpapr Union. ceeds domestic needs and estimated estimat-ed export needs, which are put at about 740,000,000 bushels. At the same time Secretary Wallace, Wal-lace, as head of the AAA, was contemplating con-templating the prospect of asking the wheat growers of America to make the heaviest reduction In plantings ever proposed. This reduction re-duction may be as much as 37.5 per cent Growers who this season planted approximately 80,000,000 'acres would be asked to reduce their operations to about 50,000,000 acres the smallest since before the World war. Allotments then would be 12,500,000 acres less than for 1938. Government estimates place the crop at between 925,000,000 and 950,. 000,000 bushels. The winter wheat estimate is between 740,000,000 and 750,000,000 bushels while the spring wheat crop is expected to reach 200,000,000 bushels. Added to this will be a carry-over of 150,000,000 bushels or more frdm last year's crop of 874,000,000 bushels. bush-els. The total supply is expected to reach an all-time high of approximately approxi-mately 1,100.000,000 bushels. In addition to the loan program, Secretary Wallace will move to bolster bol-ster the market through the new government crop insurance program. pro-gram. Already a campaign is under un-der way to "sign-up" farmers for wheat insurance. Wage-Hour Bill to Pass YXHEN 218 members of the house of representatives signed the petition to discharge the rules committee from consideration Three Billion Bill Passed n Y A vote of 328 to 70 the house of representatives passed the President's Pres-ident's three billion dollar spending bill and sent it on to the senate. This action came during a turbulent session. A motion to send the bill back to committee so that state administration administra-tion of relief might be substituted for federal supervision was defeated. In addition to direct appropriations appropria-tions calling for the expenditure of 2 billion 519 million dollars, the measure carried authorizations to spend an additional 635 millions of dollars, making a total of 3 billion 154 million dollars which may be spent by the administration in an endeavor to fight the depression. The biggest fight came on a move to strike from the bill a section allowing al-lowing states and municipalities to exceed their constitutional debt limitations. lim-itations. This motion was defeated, 90 to 86. The farm bloc put over two amendments. amend-ments. One makes farmers eligible for relief whether or not they are fouod to be in need If they can prove they are out of work. The other provides that farmers need not be in needy circumstances to benefit from free fertilizer provided by the WPA. ' At the last moment the members added 100 million dollars to the authorizations au-thorizations In the bill to be spent for rural electrification projects. British Policy Attacked CROM two sources the British pol- icy of "realism" followed by Prime Minister Chamberlain and Foreign Secretary Halifax was I-.. . -.-si of the administration's administra-tion's wage-hour bill it became virtually certain the measure would get through the house easily. Chairman Mary T. Norton of the house labor committee commit-tee and other proponents propo-nents of the bill predicted pre-dicted it also would be approved by the senate, but admittedly admit-tedly it faces a bit- fiercely attacked in the meeting of the League of Nations council at Geneva. The recognition of Italy's conquest of Ethiopia, asked by ' I Britain, and the I "desertion" of loy-' loy-' alist Spain, both im-I im-I plicit in the Anglo-! Anglo-! Italian agreement wpre denounced and of government," he said, "we have watched day by day the incomprehensible incompre-hensible desertion of certain democracies. democ-racies. We have watched them conspire con-spire with the aggressors. They have signed agreements with the aggressors which legalize this intervention in-tervention in Spain." He proposed that the league send a committee to investigate charges of Italian and German aggression in Spain. In this he was supported by W. J. Jordan, New Zealand delegate, dele-gate, and Maxim Litvinov of Soviet Russia. Hull Not to Resign SECRETARY OF STATE HULL characterized as "absurd and fantastic" published reports that he would resign because of rumored dissatisfaction over President Roosevelt's recent statement praising prais-ing the spirit of the Italo-British pact. Japanese Take Amoy JAPANESE naval forces seized V the important, port of Amoy, South China, 600 miles south of Shanghai. All foreigners there were said to be safe, but American and British warships were rushed to the island on which the city is situated to protect their nationals. The Japanese also reported new gains on the Shantung front where they were moving steadily toward the Lunghal railway despite stubborn stub-born resistance. Their airmen raided raid-ed Suchow, killing many Chinese. Revenue Bill Enacted PHE 300 million dollar revenue act of 1938, as patched up by senate and house conferees, was finally sent to the White House for the President's signature. The compromise com-promise measure retains a vestige of the undistributed profits tax, enough to save the administration's face. But the tax is limited to the calendar years 1938 and 1939 and it is expected to die then. Under the act, corporations earning earn-ing more than $25,000 will pay a maximum rate-of 19 per cent if no earnings are distributed in dividends and a minimum of 164 per cent if all earnings are distributed. There is a credit of 2Vi per cent against the maximum tax on the amount of dividends paid. Rail Wage Cut Announced RAILROADS of the nation and the Railway Express agency served formal notice on chairmen of rail brotherhoods of their Intention to reduce re-duce basic rates of pay 15 per cent on July 1. The carriers through this action hope to reduce their annual payroll by $250,000,000. Approximately Approxi-mately 925,000 railroad workers are affected by the move. The long-anticipated announcement announce-ment brought a defiant warning from the Railway Labor Executives' association as-sociation that: "We will fight the action with every ev-ery resource at our command." Oil Production Cut "pEXAS and Oklahoma, the two major oil states of the midconti-nent, midconti-nent, reduced petroleum production drastically to prevent a price collapse. col-lapse. In Texas wells were ordered shut down on Saturdays and Sundays Sun-days to effect a reduction of 1623 per cent. Oklahoma oil men were ordered to cut production during May 81,000 barrels daily, to 405,000 barrels. Gov. E. W. Marland of Oklahoma said the states' speedy action to stabilize production was removal of a possible threat of federal regulation. regula-tion. "This act proves," Marland said, "that the states are capable of handling han-dling their own affairs." Mary T. Norton ter ngnt there, for the southern senators sen-ators are angered by the omission of differentials favoring the South. In its present form the bill provides pro-vides for minimum wages of 25 cents an hour to be raised to 40 cents an hour over a three-year period pe-riod and maximum hours of 44 a week to be reduced to 40 hours in two years. It would be administered adminis-tered by the Labor department and enforced by the Justice department. It carries no differentials between the different sections of the country. Deal of the Dictators IN THE absence of official statements, state-ments, the foreign correspondents correspond-ents were forced to guess at the results re-sults of the meeting of Reichsfuehr-er Reichsfuehr-er Hitler and Mussolini in Rome. They felt certain that the friendship friend-ship between the two dictators was strengthened, that Hitler assured II Duce Germany would not try to absorb ab-sorb the German minority in South Tyrol, and that Mussolini promised Italy would not interfere with the Nazi plans affecting the Sudeten Germans in Czechoslovakia. Mussolini was believed to have received from Hitler recognition of Italy's economic and political interest inter-est in central Europe, and a promise prom-ise the Italian port of Trieste would not lose all its Austrian traffic as a consequence of Austria's absorption by Germany. Davies to Belgium JOSEPH DAVIES, wealthy law-Jyer, law-Jyer, was nominated ambassador to Belgium by President Roosevelt Davies will be transferred from Moscow which he and his wife, Mrs. Marjorie Post Hutton Davies, found boring because of the lack of socia.' life among the Soviets. Haiie Selassie discount Halifax I could make but a weak reply in defense. Haile Selassie, former emperor of Ethiopia, was present in person to address the council, and he handed in a long note purporting to show that his country was far from conquered con-quered by Mussolini, less than one-quarter one-quarter of it being occupied by the Italians. He asserted the Ethiopian troops actually were gaining ground despite the use of poison gas by Italian airmen, and that thousands of Italians have deserted. The "Lion of Judah" had nothing to hope for in the way of direct aid, but his mere presence was decidedly de-cidedly disconcerting to the British diplomats. He demanded that his protest be taken up by the league assembly. No vote was taken on the question of recognizing the Italian conquest, but Chairman Wilhelm Munters of Latvia, summing up the declarations declara-tions of the member nations, said: "The great majority of members of the council, despite regrets, considers con-siders that it is the duty of members of the league to determine individually individu-ally their own attitude in the light of their own situations and responsibilities." respon-sibilities." Haile Selassie strode from the chamber without a word. His last chance was gone. Julio Alvarez del Mayo, foreign minister of the loyalist Spanish government, gov-ernment, also attacked the policy of Britain, and of France, and denounced de-nounced the absurdities of the international in-ternational accord for nonintervention noninterven-tion in the Spanish war. "Both from the trenches and from the seat |