Show WES TAKES POST AS HEAD OF LOAN BODY Hoover Asks Stimson to Replace Replace Replace Re Re- place Ambassador at Arms Conclave GIBSON HEADS ENVOYS Act Leaves Vacancy in Embassy Embassy Embassy Em Em- bassy at London n Br BT Associated Press WASHINGTON Jan 19 President H-President President Hoover today announced Ambassador Dawes would retire as chairman of the American arms delegation to become become become be be- come president of the reconstruction finance corporation and that Secretary Secre tary Stimson would replace him at Geneva At the same time the president said Eugene Meyer governor of the federal reserve board would be chair- chair I Iman man of the board of the proposed 2 2 finance corpo corporation Secretary i will not sail with the remainder of the American I delegation to the general arms conference con con- ference coming next month at Ge Ge- neva GIBSON GIBSON TAKES PLACE His place as chairman of the delegation dele delegation gation at the opening sessions will win willbe be taken by Ambassador Hu Hugh h Gibson Gib son one of the American delegates President Hoover said these sudden changes in plans were necessitated b by bythe bythe the fact that unless Dawes were named to and accepted the position as head of the new corporation he would sail from the United States tomorrow The president is keenly desirous to have the corporation start functioning functioning function function- ing immediately BILL PASSAGE NEARS A conference must be had between the senate and house for reconciliation tion of oC differences in details o of the bills but the president is expected to have the legislation forwar forwarded ed to him for signature in the next few days Soon thereafter it is hoped that credit cred credo it can be started flowing from the resources planned forthe forthe for forthe the agency to agency to liven business in m man many y fields I The t president president- 1 aimi thi 1 h o im c i l lh if h selections at his Ms is regular Tu Tuesday S' S ay midday press conference said Tie he e was gratified to state state- that Dawes had accepted the important assignment The former vice president president dent who now nov is ambassador to Great Britain but soon will resign is a guest at the White House PLA PLANS S CONFERENCE Presumably the president has conferred conferred conferred con con- with him at length about plans for throwing into the nations nation's credit structure Other members of the directorate of the corporation will not be named at this time the president said He wishes to preserve a nonpartisan character on the directorate He explained ex cx- protracted conference with I leaders of both parties would be necessary necessary necessary essary before a final Cinal choice is m made The president Issued two formal statements announcing the sudden changes In his plans The first said in part In order that we may preserve the nonpartisan character of the institution in the other directors will be chosen after consultation with leaders leaders lead lead- ers of both parties upon completion completion com com- of the legislation I announce General Dawes' Dawes name at this time because of the required change in plans as to the chairmanship chairmanship chairman chairman chairman- ship of or the delegation to the arms conference Otherwise General Dawes would be leaving for Europe tomorrow The second statement said In view of the change in General Dawes' Dawes plans Secretary Stimson has undertaken the chairmanship of the Continued on I Page Pace le Two Twos s i Status Changes V 1 t t. t 2 M 44 L M CF C- C F i iS S T C S SJ CHARLES G. G DAWES Retires as Chairman I II I I S 5 s. s k h 5 SEC STIMSON Till Go to Geneva DAWES TAKES POST AS HEAD OF LOAN BODY Continued Prom From Pa Pace e One delegation to the arms conference at Geneva The secretary will vilI not attend the opening pening meetings but bul will take part partin in n the work of at the commission after the he preliminaries have been disposed disposed dis dis- posed of Ambassador Gibson will be acting chairman o of the delegation Mr Dawes said today his resignation resignation tion ion as ambassador to Great Britain becomes Immediately in view of ot his appointment He had in intended in in- tended ended to resign in the spring |