OCR Text |
Show THE PAGE TWO News Review of Current Events the World Over Roosevelt Plan on Farm Loans Calls for Two Billion Week Proposed for UonJ Issu e Workers The Akron Disaster. 30-Ho- FOLLOWING ur the reading of a message on the subject from the President Senator Itoblnson of Arkansas Introduced the ad mini t ra- farm mort-gagrefinancing bill which, with the farm relief bill. U designed to lift the farmer out of the slough of depression. The bill provides for Issuing by the farm loan banka of bonds to the extent Senator of $2,000,000,000. on Robinion which the govern ment guarantees the Interest payments. The bonds, or the money derived from their sale, are to be used by the farm loan banks for the purpose of taking over the farm mortgages on which the Interest rates cannot be more than 4 per cent. The expectation Is that with money available to settle with his creditor the farmer can scale down the principal of his debt to a considerable extent. Henry Morgen-thau- , Jr., governor of the new farm credit administration, believes Indebtedness mortgage may be scaled down In two ways. A mortgagee, willing to settle for cash or bonds at 70 or 80 per cent of the principal, could exchange the mortgage on that basis for land bank bonds. The bank then would refinance the farmer at 4M per cent" Or a farmer making a composition with his creditor could borrow the funds for settlement from the land bank. ' Opposition to the legislation around two arguments. One Is that It will be an Inducement to farmers to default In the payments on .their present mortgages In order to persuade mortgagees to settle at less than face value. ' The other Is that such a vast flotation of 4 per cent bonds would tend to demoralize the bond market and react unfavorably on banks and Insurance companies with large bond portfolios. The maturity of the bonds Is to be fixed by the land banks and probably will be 30 or 40 years. ' Stated briefly, the main provisions of the farm finance bill are as follows: tion's e 2 . Federal land banks are authorized to issue up to $2,000,000,000 In i per cent bonds. Interest guaranteed by government. The same banks could purchase first mortgages on farm land or exchange bonds for them. The treasury Is authorized to subscribe $50,000,000 to the paid-i- n surplus of the banks. Interest rate on loans on mortgages shall not exceed per cent. A total of $15,000,000 would be available from the treasury to compensate banka for Interest reduction. The limit on mortgage loans would be raised from $25,000 to $50,000. Voluntary liquidation of Joint stock land banks Is provided. A total of $100,000,000 of Reconstruction Finance corporation's funds Is made available for loans to farmers for refinancing their debts In accordance with provisions of the new bankruptcy relief act. Reconstruction Finance corporation is authorized to loan $50,000,-00- 0 to drainage, levee and Irrigation districts to reduce and refinance their debts. Increases the lending power of the Reconstruction Finance corporation by $300,000,000. As the bill to have the endorsement of the President and the special approval of Secretary of Labor, Miss Perkins, It Is expected to pass both houses. The bill would compel private Industry to adopt the thirty-hou- r week and penalize interstate movement of products made by labor working longer hours. Black expressed confidence the bill would be upheld by the United States Supreme court. The Alabama senator said the bill would not accomplish Its purpose If It resulted In reduction of wage levels as well as hours and ex- pressed the belief that, if Industry attempted to reduce wages, congress would act "Labor has been underpaid and capital overpaid." he said. Borah said he was "In thorough accord with the principle of this bill and I'm not so sure that we're not going to have to come to It." His argument revolved around whether congress had the power to take action. Wirty-hou- r work week. Is presumed number of veterans to be by the President's order reducing veterans' benefits will not be known for some time. In one way or another It will be felt by practically all of the and World war veterans, and the widows of veterans of these wars now on the government pension rolls, because It reduces the rates on the greater part of such pensions as will continue to be paid. These reductions and those THE Spanish-America- n Scenes and Persons in the Current News Sun-nyvill-e, MICHIGAN Is the first I state to favor of the repeal of the Eighteenth amendment. Wisconsin Is second with a decisive vote of 4 to 1 for repeal. Town and coun try alike turned out thumping wet Milwaukee, where the majorities. breweries are humming to turn out 8.2 beer, went wet by more than 10 to 1. Wisconsin's constitutional amendment convention will be held In Madison, April 25. It In predicted to be droprved from the pension that practically all the delegates will rolls will be affected after July 1 be committed to repeal. In Michiof this yeur. In brief, the order gan, but one county elected a dry makes the following provisions: delegate. Payment of pensions authorized to P. MORGAN & CO., New Tori veterans disabled by disease or Incurred or aggravated In line bankers, are In for an Investiof duty In active service. by a committee of the United gation Rates to be paid for service disabilities are: 10 per cent States senate, and a committee dlsnbled, $8 a month; 15 per cent, backed by all the authority which $20; BO per cent, f 0; 76 per cent, that august body can give. $60; 100 per cent, $80. These are 20 Without debate, the upper champer cent reductions under present ber adopted the Fletcher resolution aids. Pensions authorized to widows, extending wide power to the bankchildren, and dependent parents of ing committee to make Inquiry Into veterans who died from disease or which President Injuries Incurred or aggravated In private banking line of duty In active service. Kates Roosevelt has sponsored. continue as at present. The resolution was drafted by Payments authorized for Pecora, committee counconnected disabilities and deaths Ferdinand of veterans who served 0 days In sel, with a view to obtaining all the n the war, Mozer senate's constitutional power over rebellion, Philippine Insurrection, Interstate commerce, banking and and World war. provided disability was total and not due to personal tax matters for the committee. Pecora told the committee be had misconduct. Latter allowance will not be made submitted twenty-threquestions to to unmarried persons with Income the firm and that on advice Morgan of more than $1,000 a year or to any married person or one with minor of John W. Davis. Its counsel, the children whose Income exceeds $2,500. banking house had refused to anPensions of widows and children swer one and taken several others n war veterans of under consideration. cut 60 per cent. Excludes peace-tim- e veterans from domiciliary care. government's DESPITE theof Hitler Limits sharply emergency officers' the boycott against pensions. German Jewry, the National Socialmaloss In the ist party will keep Its boycott T.1IE country'sof great the Akron is not chine Intact. Disappointed at being the loss of the navy's great dirigi- deprived of the boycott, Nazi police raided a Jewish quarter ble, but of the 74 olllcers and men In Berlin. Accompanied by regular who went down wti.-.. .. i police, they searched everywhere for w a ner in me s weapons and papers." Streets were storm off the coast f- - ' closed and pedestrians were stopped. of New Jersey. Hear Even worshipers leaving synagogues Admiral Moffett, were halted. Persons not carrying chief of the aerodouble Identification cards were arnautic bureau of the rested. navy, who ' was a The Nazi boycott committee headpassenger on board, at Munich announced that quarters with his shipmates "all German stores In the near fuupheld to the end ture will be supplied with big the finest traditions placards Identifying them as such." of the navy. Admiral In this way the Nazis will distinThe wreck of the Moffett guish between German and Jewish Akron, largest of Its kind In the world, was the worst air- stores. A measure forbidding Kosher The airship disaster In history. throughout the nation ship crashed off the New Jersey slaughtering coast, twenty miles off Barnegat has been approved by the relch'g lightship, during a violent electric cabinet storm, accompanied by heavy winds and high seas, dense fogs and thick ANEW suggestion for a conference of experts to raia Lieutenant Commander Wiley, sec- be held In the United States to preond In command of the airship, and pare for the world economic confer the two men who were saved owed ence developed at ggvpmz their lives to the chance that a meeting tn pans between Norman H. brought the German oil tanker Phoebus close to the scene of the acci- Davis. President dent a few minutes after It hap- Roosevelt's and pened. They were picked up Immediately, by the Phoebus, whose crew Joseph French for- If saw others disappear beneath the In waves before rescuers could reach eign minister. see this the French them. The Phoebus cruised about the scene until dawn, but was un- their opportunity of able to find any more survivors or to talking over war debts. Norman keep track of the wreckage, which Like the British, was carried swiftly away by . the Davis the French want to seas. a before the debt settlement wangle First report of the disaster was So received In radio messages from the economic conference convenes. exIs fervid Davis that desire this Phoebus. Both coast guard and naval vessels were immediately dis- pressed his displeasure that Europe, with Its very existence at stake, patched to the scene of the wreck think of nothing else. and cruised around for hours In the should Mr. Ihivis feels that the Washinghope of finding other survivors. The ton administration has made It clear navy blimp J-taking partin the that there are bigger jobs to be done search, fell Into the sea. five of Its removal of trade barriers, for excrew were rescued. The search was fruitless, and. In ample. So with hopes of calling the ecothe case of the accident to, the blimp nomic conference at an early date was also. abandoned, the idea of a prelimon what Is to end naval inary meeting to agree DETERMINATION to be done and how to go about It Is mountis making headway. ing through a congress Intent upon When the new French ambassador of cause real the Akron's the finding to the United States, Andre Lefevre Atplunge Into the de la Boulaye, sailed for America lantic. he was accompanied by a treasury In the senate King expert to prepare the ground for (Dem., Utah) prewhat Paris hopes will be a general pared a resolution debt discussion. Incalling for an Premier Ramsay MacDonald plans vestigation of the to sail for the United States about Akron disaster and April 15 for a conference with the consideration of President Roosevelt regarding war the advisability of world economics and armadebts, spending more than ment the $2.000.000 that the navy already Fred Britten last has has Invested In MOUNT EVEREST at Two air conquered. lighter - than - air craft. Chairman planes have flown across the sumTrammel of the senate naval committee also was considering a study mit and for the first time In history men have looked down upon the of the accident. Chairman Vinson of the house highest mountain In the world. The naval committee has declared em- feat was accomplished by the Britby the marphatically "there won't be any more ish expedition headed A photographer of quis Clydesdale. built." airships In taking a number of picThere were some, however, not so succeeded tures, which. It Is hoped, will proto to beliefs founded ready yield vide authentic record of the conduring many years In congress. quest of the 20.002-foo- t mountain, Many had followed Itepresentative on the sides of which numerous men Britten of Illinois, who as Republichave perished attempting by an chairman of the naval commitmethods to gain the honor tee for years had charge of most of of first to reach the top. the being the recent legislation for airships, Although exhaustive preparations particularly that authorizing the had been made for the flight over Akron-Maca$8,000,000 sister ship Mount Everest, the actual carrying Mr. Britten has always de team, out of the feat was In a measure acclined to supMrt those who thought cidental. When the two ships wen r craft should be the purpose of the flyers was up abandoned. But they only to make a test. Many members were undecided found conditions so Ideal that they how far they wanted to go In their turned the test Into the real busiban on airships. Vinson said he ness. The two planes flew at an thought nothing should be done to altitude approximately 6.6 miles of the Macon, and the flight required three and prevent operation which Is to take the air toward tne half hours. end of the month. Nor did be think C- 131. Western Newspaper Union. ry Well all I BEVERLY HILLS now Is just what I read in the para, Bernard Shaw come to town week or to ago Marian e Epanlsh-Amerlca- aux-Ilar- .... y " .gr 1 r, J o lighter-than-ai- - u Del-tric- k .. i"e i .. - yitBJI V traded her chemist tor breeches. That Shaw baby Just had answers to all the riddles. "When will you Have your old 1 Spanish-America- rv and threw the biggest commotion In the film colony since J non-servi- f y eon-net-l- 1 Thursday, April 13, 1933 NEPHI, UTAH S, that the new dirigible bas at Calif., wlier $4,0l,0 ,nd been expended, should be abut down. J-- and house are BOTH the senate a bill, of which Senator Black of Alabama Is the author, that would establish a TIMES-NEW- plays filmed?" : "When the movies are able to handle them as tbey should be." "Which Is your bwit play?" "They are all good. I don't write any other kind." "Some day I am going to rewrite Hamlet the way that it should have been in the first place. Shakespeare Is like a volcano, be erupted, then i George Bernard Shaw, whose outspoken remarks about movies and actors set nollywood by the ear for a long time ha would be dorduring a recent visit 2 Hitler and former crown prince seem to be on excellent terms. 3 Tornado takes mant. In Mississippi. "America Is not ready for prohi- heavy toll bition as they are not happy enough. You have to drink to drown your troubles. I dont drink, but I dont expect your country to lire up to my ll 5 OKI Victim of Worst Airship Disaster in History standards." "In California I bad to fly over on. mile high to see the sun." So you see the old whiskered rascal was really hitting on a Majority of em. And here is a funny one. Mr. WInfleld Sheehan, our studio general manager, had a party up to his house In Beverley the other night, it was given for MIsa Diana Winyard, the English actress, so naturally there were a few Englishmen present. The whole thing was awfully decent I guess thats why I dozed off. She stucK it out another half hour figuring something would break out But we had a fine, what you call buffet supper. Most buffet suppers or dinners either, are a kind of excuse for not having much to eat There is something about a "Buffet" that suggests that Its only going to be a couple of sandwttches and some potato salad. But this fellow Sheehan double crossed everybody much to their enjoyment and physical fortitude, and he not only had a tremen dous lot of stuff on the table for the first helping, but he seemed to have more of it in the kitchen, and they just kept on bringing you more. Spagetti, chop suey, baked ham, salads all kinds, then lots of english dishes that we Colonials dident know what they were, but the Englishmen were just using up their knives and vocabularys on. Now we have a Frenchman here, a mighty fine looking young actor called I think It is Garrah. Now as we all know Frenchmen are In the dog house with U9. But he and I got off in the corner and we went over France's situation. I have always claimed that France handled their own affairs better than any other nation, (with the possible exception of England). We cusf em, but we havent got their troubles. We can tell the world what they should do, for we have two great trlenda. No nation ever had two better friends than we have. You know who they are. Well they are .he Atlantic and Pacific Ocean. There is a couple of boys that will itand by you. And you can always lepend on em, three thousand milaf A ide and a mile deep. Give me a couple of good ocean? between me and my enemies and will sink a bat tleship and do away with a couple of companys of cavalry. But 1 you "take s. ' Jt '9 V- ' - - ? 4. "First Family" at Society Circus HOLDS THREE JOBS m7 1? The annual salary of $11,500 which H. C. (Curly) Byrd receives In return for holding three Important jobs at the University of Maryland, Is money well spent by the state, according to a committee report made to the state senate. Byrd Is athletic director, football coach, and vice president of the university. . WILL BOSS WORKERS ""i old " "'H rf jssii h imiwiii es as I see let eaiMar Mrs. Franklin D. Roosevelt holing her granddaughter, "Sistie" Dall ; Col. Harry N. Cootes as they viewed the so clety circus at Fort Myer, Va. TllIT between them but a boundry line of two hun- 44111111 1 dred years of hatred, and I am going to tell you brother, I would look" out foi France, and I don't blame em foi looking out for France. What w forget is that every Nation has tr look at things from their own angle, not our angle. You must always remember America can get altruestlr. (Is that what you call it?) well even if Its not what you call It, thaU what I am going to call it, but re member we got the old two oceans. out pals, the Atlantic and Pacific. But what I originally started In to tell you about was these English men. At the dinner I would brag on Shaw, and they thought he was the hooey. YvU see these Englishmen cant figure out In all these years, h Ihaw for em or against em. Tbe don't know. So if an old guy 11 years old can outfigure you, whj ;ive him credit. So as I started tn ay, Bernard Shaw made a aucker ut of England, one out of us. anri verybody else, so lets Just be good ports and admit that what thr orld need; Is more whiskers, morf 'egeiarians. and more teetotlers. , , m President Roosevelt and next to 'Germany, with nothing in the world 5 wf; Ik France bedded right in there JV.'-V- U. S. Navy dirigible Akron, largest of Its kind in the world, wrecked off the coast of New Jersey during a violent storm. Admiral Moffett and 76 officers and men were aboard, of these only one officer and two meo were saved. Inset Is photograph of Admiral Moffett, chief of the aeronautical bureau of the United States navy. The U. S. S. Akron ha been flown in virtually all sections of the United States so that the people might get a personal glimpse of the largest airship in the world. A number of mishaps have marked the ship's career, but none which seriously affected its service. Mi.tkt SunUtctiH, Inc. As the Trout Fishing Season Opens r V 4 8 i iV- - ST MaJ. R. Y. Stuart, who, as head of the United States forestry service will be In charge of the unemployed army of 2.T0.000 which President Roosevelt expects to put to work In the national forests In the near future. Limited Usu of Mu.ical Tones Because the musical scale Is bused on tin human voice, with its llmi lations In range and Intervals, nin sic uses only anout SKI or the 1 l.lKKi viuslcal tones that the ear Is able (Itstinguisn. Collier's Magazine. 1 3 m - avT-- pair of anglers casting at Croton Falls. New York, along the branch of the Croton river, as the season was Inaugurated In New A state, Vs |