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Show News Review of Current Events the World Over Senate to Rewrite Revenue Bill Lindberghs Still Hope Despite Double-Crossing April Market Crash Cost Six Billion Dollars. THE senate will rewrite the billion-dollar billion-dollar tax bill passed by the house. Chairman Reed Smoot of the senate finance committee announced. After a long delay In getting down to business busi-ness on the budget balancing measure, action at last appears In sight. Many of the soak-the-rieh provisions of the tax bill may be eliminated In the upper house's revision. Smoot's announcement followed a bitter partisan debate in the finance committee. For nearly two hours, Secretary of the Treasury Mills and Senator Harrison, Harri-son, Mississippi Democrat, sparred for political advantage over the revenue measure. Harrison sought to have Mills snb mit a tax program which could he lab!pd an administration bill. Mills declared that the treasury sticks to Its original recommendations presented t'o the house ways and means com: mittee, and rejected. Millls promised to submit to the committee two new proposals, minor modifications in the treasury's first program. pro-gram. These, he indicated, would be for lower taxes on home consumption of gas and electricity, and for a tax-on tax-on wort and malt. He also told Harrison be would point out specific flaws In the house tax bill nnd suggest corrections. This action, he warned, could not be considered con-sidered as offering a treasury program, pro-gram, because the treasury is bitterly opposed to the house bill. The general manufacturers' sales tax as carried in the bill reported by the ways and means committee is acceptable ac-ceptable to the treasury, Mills re-Iterated. re-Iterated. He suggested that the treasury treas-ury would like to have the committee accept a 1 per cent manufacturers' sale tax, estimated to yield $3o0,-000,000. $3o0,-000,000. Mills was optimistic over the federal economy drive, saying a minimum appropriations ap-propriations slash of $200,000,000 Is "definitely In sight" after conferences between the President and the house economy committee. TPUE senate banking committee was - advised by Richard Whitney, president of the New York Stock exchange, ex-change, that stock and bond values Richard Whitney had depreciated at least six billion dollars dol-lars during the April collapse In security values. Testifying as the principal witness in the committee's investigation in-vestigation of short selling on the stock exchunge, Mr. Whitney Whit-ney said that the drop in securities values had been as drastic during the past week as during any other period of the depression. He concurred con-curred In an estimate by a committee member that stock market and bond losses from the peak of high prices Id 1920 had dropped $43,000,000,000. Mr. Whitney's estimates were made at the conclusion of the second day of the committee's attempt to pin responsibility re-sponsibility for recent stock market losses upon the activities of Wall street bears engaged In short selling operations. At the conclusion of the day's hearing the Investigation was adjourned until Monday, when Mr. Whitney Is expected to place before be-fore the committee a complete record of the short sales during the last week together with a list of the prominent prom-inent bears who have been on the short" side of the market. Mr. Whitney vigorously denied that short sales had anything to do with the recent drop In securities values, asserting that widespread liquidation and unsettling business developments rather than bear raids were responsible respon-sible for the drop. He asserted, and produced figures to prove his point, that during the first week of the April decline, the reduction in stock prices was accompanied by a decline In the short Interest or short sales. In response to questions, Mr. Whitney Whit-ney said he thought between fifteen . nnd twenty mllllou persons were trading trad-ing on the stock market when the crash came In 1929. rvESPITE the failure of the kld- napers to restore the Lindbergh baby after the $."0,000 ransom was paid by Colonel Lindbergh, the belief be-lief persists In official circles that the child will be restored to Its parents. The optimism seemed to spring chiefly from faith In the ability of Dr. John F. Condon of the "Jafsie" contact con-tact to re-establish communication with the gang which is believed to be holding the baby, stolen from his parents' home near Hopewell, N. J., on March 1. Doctor Condon is reported to have told the members of some of his classes at New Rochelle college that he had recognized the penmanship In all the notes from the kidnapers as the handwriting of a former pupil. It was supported, too, by the grow-Ing grow-Ing conviction that the kidnapers as well as the baby's father were double-crossed double-crossed by the mysterious Individual who received the jrW.OOO In currency from the hands of Doctor Condon on the night of April 2 in a lonely corner cor-ner of St. Raymond's cemetery in the Bronx. No word has come from the criminals, crimi-nals, however, since the money was paid. In order that Doctor Condon can pursue his efforts to recover the baby free of official Interference, representatives represen-tatives of Colonel Lindbergh have requested re-quested Bronx officials not to question him. They agreed to heed the request. re-quest. A new and puzzling angle was injected in-jected into the mystery when dispatches dis-patches from London quoted an article ar-ticle In the Daily Mail that some of the ransom hills had been found in the British capital. Colonel Sdiwiirzkopp revealed that efforts to trace the ransom bills had not provided a clew. A woman was questioned for several hours in Manhattan Man-hattan in the belief that it was she who tendered one of the bills in payment pay-ment for purchases in a Greenwich (Conn.) bukeshop Monday night. But she finally was released with apologies. apolo-gies. pi.ANS for retaining the full fight- ing strength, of the United States fleet in the Pacific, while conditions remain unsettled in the Fai East, are being considered by administration officials. of-ficials. At present the scouting, as well as the battle force, Is operating in Pacific waters. Orders, however, call for the return of the scouting fleet with Its big eight Inch gun cruisers in May. It is expected these orders will be canceled. Th- State department, It is reported, notified Navy department officials that If practicable it would like to have the scouting force retained In the Pacific following the Hawaiian and west coast maneuvers which were concluded con-cluded several weeks ago. The understanding under-standing Is that the State department officials took the position that maintenance main-tenance of the fleet at its full strength In Pacific waters would have a beneficial bene-ficial effect on the far eastern situation. situa-tion. DRESIDENT PAUL VON HINDEN- berg who was re-elected president of Germany In the run-off election by an overwhelming majority, issued a proclamation accepting accept-ing the election and thanked the German people for their renewed re-newed expressions of confidence. He pledged himself "to . continue to serve my fatherland and folk with all my power.'' "True to my oath, I will continue to fulfill ful-fill my duty of remaining re-maining above all parties with Justice dominant, and with a President Hlndenburg I fixed desire to help our fatherland to freedom and equality externally, and to unity and progress at home," he said. The eighty-four-year-old president again urgently appealed to the German Ger-man people to unite. "I implore all German men and women, whether they voted for or against me, to cease their wrangllngs and close their ranks," he said. "Again, as seven years ago, I appeal to the entire German people to cooperate. co-operate. It Is necessary to unite all powers In order to surmount the present pres-ent confusion and distress. Only by standing together are we strong enough to master our fate. Therefore, There-fore, in unity, let us go forward with God." A DOLF HITLER has been ordered by the German government to dls-pand dls-pand his army of 400,000 nntional socialist so-cialist shock troop3 and to end terrorizing ter-rorizing activities for whlcl. It holds them responsible. This sudden blow at the strong Fascist organization came in the form of an emergency decree de-cree signed by President Von Hinden-burg. Hinden-burg. This decree dissolved Immediately Immedi-ately all "quasi military organizations" of the national socialist workers party. A minimum punishment of a month's Imprisonment Is provided by the decree, to which may be added a fine, for any participation In the dissolved organizations or support accorded ac-corded It. THE panic which swept over portions por-tions of Argentine and Chile as a result of the eruption or nearly a score of volcanoes In the Andes mountains moun-tains quickly subsided as the fire and ashes which had belched from the craters diminished. Scientists Immediately Immedi-ately began an Investigation In an effort ef-fort to discover what had caused the phenomenon. Several parties of seismologists seis-mologists made air surveys of the volcanic regions. Meanwhile, the great area over which the ashes fell extending the entire width of the continent from the Pacific coast of Chile to the Atlantic coast of Argentina and Uruguay and about 400 miles wide looked as If ft had been risked by a hea j snowstorm. snow-storm. At some points the ashes were reported to be lying 14 Inches deep. THE battle over tmmedlaU cash payment of the soldiers' bonus flared In both houses of congress Tuesday Tues-day as the house ways and means committee began hearings to determine deter-mine whether the public should ba asked to assume an additional two billion four hundred million dollar cash burden to enable the World war veterans to cash their adjusted compensation com-pensation certificates. The advocates of legislation permitting per-mitting veterans to cash In their bonus certificates at once disclosed that they hope to float the bonus law through congress as "a rrosperlty measure" rather than as simply a bill to advance veterans upwards of two billions In cash. Spokesmen for the bonus law asserted its passage would start the United States back toward prosperity by Increasing money in circulation, cir-culation, boosting prices and reducing the value of the dollar. Shortly after the bonus advocates had had their say the movement for full payment of the bonus was assailed in three quarters. Senator Joseph T. Robinson (Dem., Ark.), senate Democratic Demo-cratic leader, Issued a statement In which be asserted that payment of the adjusted compensation certificates would produce harmful results. Majority Ma-jority Leader Henry T. Rainey (Dem., 111.), and Representative Hamilton Fish (Rep., N. Y.), also attacked the bonus laws. JUSTICE PIERCE BUTLER of the United States Supreme court handed down a decision that throws a further safeguard around the American Amer-ican home against fJ j V unlawful searches and seizures. The decision affirmed the circuit court's decision that the prohibition agents who raided, on a mere arrest warrant, the New York premises of Daniel M. Lef-kowiz Lef-kowiz and Pauline Paris, used by them as headquarters for Pierce Butler 'eceivlnS ?0otl liquor orders, and then took possession of all the papers pa-pers and documents in the room, were not legally Justified In so doing. The Supreme court holds the arrest of Lefkowiz was properly made, but says: "There Is nothing in the record to support the claim that at the time of the arrest the offense for which the warrant was Issued or any other crime was being committed In the presence of the officers. The mere soliciting so-liciting of orders from the room In connection with the other uses alleged In the complaint Is not sufficient to constitute the maintenance of a nuisance nui-sance thereon." PRESIDENT HOOVER and Governor Gover-nor Roosevelt won favor of the electorate In primary elections and conventions In five states. In Illinois, although the delegates to the state convention are unin-structed unin-structed it is believed that a majority of those chosen favor the President. For governor, Judge Henry Horner of Chicago won the Democratic nomination, nomina-tion, while the Republicans chose former Gov. Len Small. In Nebraska's preferential primary, Governor Roosevelt was the winner for the Democratic nomination by a substantial margin. The slate of Republican Re-publican delegates favors President Hoover, whose name did not appear on the preferential ballot. The prospects of both President Hoover and Governor Roosevelt were strengthened by the action of three state conventions. In Missouri the Republican convention con-vention instructed the entire state delegation of 45 to vote for Hoover. The Florida Republican convention pledged nine delegates at large to Hoover. District meetings gave him four more and two other district delegates dele-gates remain to be chosen. Kentucky's entire Democratic delegation delega-tion of 26 was instructed by the state convention for Governor Roosevelt to vote for him as long as. his name Is before the national convention. FRANCE does not take a fancy to the American proposals for disarmament dis-armament as presented by Hugh S. Gibson, the American representative. Premier Andre Tar-dieu Tar-dieu of France, representing rep-resenting his government, govern-ment, bitterly assailed the plans at the Geneva Ge-neva conference. Mr. Gibson proposed pro-posed that tanks, big guns and gases be abolished In the Interests Inter-ests of security, but he made no mention of battleships, "the most obvious aggressive aggres-sive weapon," said M. L f . & 'j Hugh Gibson Tardieu. Abolition of certain types of aggressive arms will not necessarily neces-sarily provide security, he said, but might, on the contrary, be disadvantageous disad-vantageous to an Invaded country. The only means to security, he declared, de-clared, is common action against an aggressor. This was generally accepted as a restatement of the French proposal for placing offensive forces at the disposal of the League of Nations. In any case, the premier reminded the conference, this disarmament meeting is under the auspices of the League of Nations, and he suggested that nonmembers of the League keep this In mind. Mr. Gibson's proposals were In line with plans worked out by Norman EL Davis In conference with President Hoover and Secretary Stimson. (. 1932. We6t.rn Ntwiptiw U&Ih.) |