Show news review of IN current events th the e v 1444 world over united states steel cuts dividend rate aud will reduce salaries germany now Is helping herself by EDWARD W PICKARD U UNITED steel generally STATES regarded as the barometer of american business conditions went on record when the directors at their meeting in new ne Z york reduced the quarterly dividend on common stock sharply from to 51 1 the new dividend rate amounts J A farrell to 4 a share instead of 7 and Is the lowest paid by the corporation in sixteen years at the same time the directors dealt with the wage question through a recommendation that salaries of officers and employees be adjusted leaving it to the management to determine the amount of reduction in pay there was no mention of readjustment of wages and the officials would not comment on the possibility of this action but in some quarters it was thought the directors were authorizing thor izing the first move in a program that would be extended to labor in case this became apparently unavoidable president hoovers administration took occasion to repeat its plea pica that there be no lowering of wage scales in key industries andoe and of living standards and president james A farrell of the united states steel corporation po ration has been regarded as one of the supporters of this policy the reduction in salaries it Is understood der stood will be put into effect as soon its as the adjustments can be worked out the proposed cut will be applicable to nil all salaried employees and will average about 10 per cent it la Is believed ono rumor Is that some of the higher executives will accept larger reductions president t F farrell arrell himself Is in this latter category the exact amount of his salary has never been made public but one guess g bess uess places it between and the reduction of the dividend rate affects more than stockholders steel stock is owned and traded in throughout the world wall street toik the news of the directors action quietly though it h had ad hoped the dividend rate would be placed no lower than a quarter POUR TOUR more bold aviators success fully crossed the atlantic ocean though the first pair adir were far from reaching their destination hugh herndon jr and clyde took off from the new york municipal airport with the intention of flying to moscow and thence around the world all the way across the ocean they lew flow through dense fogs find and they were compelled to land in a farm field near cardigan wales they went on to london find and continued their night flight from there russell kussell boardman and john lando who left at the same time and from the same airport on a night flight to turkey were more successful for the they y landed safely in istanbul beating the uon lion stop distance record established by coste costa of france COL C OL CHARLES A LINDBERG and airs lendbergh started from washington on their long find and perhaps perilous aerial jaunt to japan in their big scarlet and black seaplane sen plane the first hop which was intended to take them as far as north haven maine where Is tile the summer home of mrs lind ber bechs glia parents ended in flushing bay new york in the midst of a thunderstorm and heavy downpour of ruin rain the colonel announced that the radio tests had proved unsatisfactory uns a its and the light flight was accordi accordingly ng ly delayed until the apparatus waa wa a got in order the tour of the Lind berghs will take them up across canada to the far north across alaska and to japan by way of the aleutian islands their lockheed sirius plane has been equipped with every device needed to make the trip safe and successful the colonel Is chief pilot his wife chief navigator and both are qua qualified to work the wireless CHEERED C up by t be h e encouraging and predictions N of prime will minla 8 ter macdonald of great rent britain secretary of state stimson I 1 of the united states and a it d other eminent statesmen germany worked hard during tho week to rescue herself from financial collapse the distinguished herr gul visitors were received in berlin with uproarious demonstrations and were the chief figures at banquets find and conferences britaina Brit ains confidence conD dence in germany Is declared sir fr MacDon macdonald nId we tire are filled with admiration for germany and we are nemly convinced that if sla she continues har ier ei extorts etT lorts orts it if she exerts all ler intel lec IMI moral and economic powers to ret get un ua her feet rigali without giving in way to despair other nations will licit help her and not suffer stiffer her to go go under A free self respecting germany Is indispensable able mr stimson before leaving berlin tor for london issued a statement in which he said tile the american people have faith in the german people and believe in their future my faith in germany has been strengthened by my visit here I 1 believe the present difficulties are due mostly to temporary lack of confidence and that ali through rough courage and renewed confidence germanys germanas Germ anys welfare will be restored the german government announced the fornin formation tion of the acceptance and guarantee bank with a capital of to facilitate the immediate financial transactions of the country and to make possible the reopening opening re of all german banks the and eleven other leading german banks guaranteed the credits to the new bank in addition to removing the restrictions on banking activities throughout 9 hout the country dr hans luther president of tho the and chancel lor bruening said bald they hoped the new bank would also help reestablish establish re the closed und national bank and save other small banks now tottering one important step taken by the government was the appointment of herman to assume control of all german banks during tho ille crisis he was made controller of the coun arys financial structure with power to draft plans to stop the flow of funds from the various banking houses bouses herr itz has been closely identified with the great chemical industries of germany considerable interest Is evidenced in washing ton in the political future and plans of henry P pletcher 1 veteran diplomat who has just tendered to president hoover his resignation as chairman of the tariff commission effective on november 15 beh P fletcher flatcher ing g interviewed air fletcher said tersely my aly plans plana are indefinite but I 1 certainly dont intend to go into a convent there were rumors that he would seek the republican nomination tor for the pennsylvania Pennsylva ula as successor to senator davis but this he denied also it was thought he might be appointed governor govern or general genera I 1 of the philippines in view of the long experience of mr air fletcher flelcher in the diplomatic service and the fact he served as ambassador to both italy and belgium there Is talk that if any change should be made in tire the office of secretary of state he would lie he a logical man for the post following the election of hoover in 1928 he was mentioned freely for secretary of state and tor for ambassador to great britain and ambassador bas bass arlor to france long a friend of president hoover he accompanied him on the goodwill good will trip to latin america soon after the presidential election ORMAN H n DX DA NORMAN N vis one of america leas 3 most eminent 1 financiers and at present trustee of the bank of new YO ork and trust company announced that he had accepted a post pos on the finance committee of the league leaful of oi nations and would sail for europe almost immediately N H davis his first business there will be to attend a conference on oil european credits which will open august 20 ile he will then take part in a meeting of the finance committee early in september ile he will return home in october and will mill not be obliged to re uny any of his business interests in this country as the finance committee of the league Is called together only three times a ye meeting as a rule for onla n as a for onla n continuing only a few days mr air davis Is entirely familiar with european finances for during hla his distinguished career he has bus been a member of numerous international commissions and conferences in 1920 1026 21 he wits was undersecretary of state 0 NB more report has come from the wickersham commission it deals cals with the american prison system which it condemns as inefficient antiquated falling to reform the criminal or protect society and as using brutal and unjustified disciplinary measures men much aluch of the report Is a denunciation of prison conditions characterized us as almost OSt incredible under which men tire are imprisoned in overcrowded cells without lt sufficient light or fresh air or benefit of modern plumbing it attacks ulso also the system of prison discipline described as traditional antiqua antiquated tel unintelligent and not infrequently cruel ond and inhuman assorting asserting these theae methods to the increase of crime by hardening the prisoner the commission n urges they be changed by law outlining vit ideal the commission cora 0 tion of tile the diseased 1 assert a I ir dieter dieted and hardened 2 coq of the first recites f 41 res Milre prisons of it the A aro are unnecessary aa save f an fn 0 types N under tile the proposed gw boners would be paid 2 ra tr treatment would be ig in more ore b the choosing of prison be removed remove from pollyl poll tl ofil would be trained all task in SK it Is advocated that be sent to a vella penal I 1 institute no ta la Is definitely determined that thata abit a fit subject for probation ot of the parole system f at also I 1 the best means yet leasing prisoners from con coffit IN TN ONE OND of ti the most ost A stron strong 4 opinions ever handed d prohibition case the nj circuit court of appeals appeals at K severely attacked the tacola bacu in en trapping obdia afe daring claring their methods to tobe be to tire the courts sense of faai observing that there Is an creasing frequency of the opinion reversed the m of five policemen of indiana last year were found gallt to protect a 11 speak akean eail that there was a ca violate the prohibition law it be no doubt said the A courts opinion the colip conceived by the three pro p agents who eti enlisted listed the seril decoy lyle to more effect CO in P fish their object horai who managed the governa go vernnia vernm abed speakeasy Is a dry spy who has been lne ln bribery and arrested several B drunkenness tabo HERB Is a lot of labor b the east in new tort workers in the mens and an c clo clothing thang industry went on s orders from the amalgamate ing workers of america tin thi of the strike according to a fici ficiala als are uro to 10 10 a fill n r sweat shop conditions and to t end to gangsters intimidation workers and officers 4 the two unions in the try at paterson new jersey jerse are affiliated with the aniere oration of labor had sch achi strike for august 3 but th ft was forced by a premature ure gingered gIne ered by the radicals 1 and th conservative ones were vere corn com quit work earlier than an thousands of workers kedd the mills were stopped C CARLOS president MOS of ahk cl held his hs own out all thi american r re of last year en at lost last I 1 tk of destiny styled blasc with a popular ing that was wa ranged real carlos ibanez bally just be b time set for a general serl congress promptly accepted t nation but apparently withheld conduct out of the country countr ibanez asked therefore in t morning hours the tor accompanied by his wife e army officers fled from thep the a motor car at los log anda am boarded a special train for A and it Is considered unlikely attempt will be made to b bi back to santiago for trial when ibanez fled pedro president of the senate and ott d dent of chile became acting P but he lasted only a few how people were convinced he be bal hi ibanez to escape 11 lie e it t stepped out in favor of juan jua montero Al ontero who presumably will to executive until a president la Is montero ts Is one of the coun countr ing lawyers chile hailed with ith announcement annon cement that pedro B one of tile the most popular men had agreed to accept the finance minister ills bread ter policy during his eight i 0 as premier has been accept accepted bi chileans Chi leans us as a grea great t step to ald ri tion of its ita economic dIs distress saw the belated del PRIDAY FRIDAY at P of the marble column day bay ohio memorializing memorial izing the p of commodore oliver hazard over the british in t the he battle n erle erie in 1812 the foot fool tw it been completed for 15 years w ceremonies were put off from w time until the present dedication add addresses r esses were w senator james harrill hamilton t oil lewil lw and gov george whiter wil lie among others on the proal of f w webster P huntington president of the perrys perry Is W john ll 11 0 morial commission cleveland fohner A as a te COT tile the united states supreme edwin A scott president ina and J flack secretary of choco W T club of new york CAM AM 0 MAJOR rep S congress from the sete bourl dist district rl ct died in r faye ayette te the republican majority in v to toa restored house was thus yr mr major was a denton democrat rat 0 twelve in the present gatlon gallon of st sixteen iteen he was 01 to years old and was elected term last autumn caw uzl mi 1931 waster News ci |