Show DUCE ABOLISHES PRIVATE BANKS Reform Declared to Defy Sanctions B Br Dy Associated Press Italy victorious thus f far r in Its military campaign against Ethiopia but facing increased sanctions by members of ot the League of Nations abolished private banking today Tho The abolition was accomplished by the Italian cabinet whoso whose leader and majority member Premier Mussolini declared a a. renewed de defiance defiance do- do fiance of ot sanctions Thus far the only sanctions declared declared de de- de- de dared against Italy have been fi financial financial fi- fi and economic leading economic leading to the sweeping banking reform in Italy Now the diplomats assembled at Geneva talked of applying tho the more stringent punishment of ot an embargo embargo embargo em em- bargo against oil shipments to the nation which Is fighting Ethiopia Great Britain and France often at odds during the Italo Ethiopian conflict cooperated at Geneva today In the tho cause of peace Diplomats of ot tho two nations discussed discussed discussed dis dis- dis- dis cussed the terms of an appeal for or orI I peace to be sent simultaneously to Premier Mussolini of ot Italy and Emperor Emperor Em Em- Haile Halle Selassie of Ethiopia A report was published in London London London Lon Lon- don that Emperor Hallo HaiLs Selassie had sued for peace at Geneva but the activities of the League of Nations Nations Nations Na Na- did not serve to substantiate this angle League officials prepared a program program pro pro- gram for the tho carrying out of an oil embargo against Italy if the member member mem mem- ber her nations should call for tor one as asan asan asan an additional sanction against il Ii duces duce's government Mussolini praised the neutrality policy of the United States as an Instrument of at world peace pence Obliquely Oblique Oblique- ly y his praise was interpreted as a n criticism of nations which had ap- ap ed on Page Pale Two Column Seven Soven DUCE ABOLISHES PRIVATE BANKS Continued from Page One plIed piled sanctions against his government gOvernment government govern govern- ment for the war with Ethiopia In Africa the Italian army crushed OOOO Ethiopians under the tho command command com com- corn com mand of Ras Ens governor of ot Go j jam province concluding a a battle begun three days dRYS ago The remnants of Ethiopian troops under the command of ot Ras Kassa and Ras Has which had lad concentrated concentrated con con- on- on at nt Abbl Abbi Add are believed to have hava scattered into tho the mountains mountains mountains moun moun- in the east They still sun are trapped in a cir i circling cling movement of Italian columns but it 1 is difficult f for r the hll f j soldiers to to- distinguish c l ii the peasants after th they y discard rd arms arm Ambulance corps corps wf NO wo cleared tho the b l of at liau u of dead V i. |