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Show HEW SPENDING ! DRIVE JUERIED Roosevelt Denies He '. Knows of Program WASHINGTON, Msy It IA) President Roosevelt, discussing reports re-ports that a new spending-lendlng program was being studied In soms administration quarters, expressed emphatic opposition today io using any part of the 1X000,000,000 stabilisation sta-bilisation fund to finanoe aids to business. I Questions regarding, the reports were raised at the president's press conference. Hs said hs had never heard that a new spending-lendlng plsn was under consideration. When it was brought out that ths heart of this plan provided for utilising part of the stabilisation .fund to finance new federal helps to business, such as purchases of railroad rail-road equipment, Mr. Roosevelt said he was opposed to monkeying with the fund. I Plana Outlined . j : Regarding other matters bearing on the business situation, the president presi-dent said securities commission report re-port to congress on Investment trusts would be submitted by him without recommendation. He also reported that he had not yet scheduled further conferences with congressional or treasury tax experts on proposed revision of the corporate tax structure. He met at length with them last Monday. The spending-lendlng program has not taken definite form, it was learned in Informed quarters, but is being put in shape for submission submis-sion to the president and poesibly transmission to congress. As tentstively outlined, It would Include: Release of $1.500000.000 of ths treasury's 12.000 000 000 stabilization fund and use of ths money to finance fi-nance a nation-wide home building program. ... Leans to Business Establishment of new federal machinery ma-chinery for loans to business, with (Continues on Pes Two) (Column Flvet King George Approves Treaty In Historic Rites at Ottawa had been whisked through Montreal by automobile, had beard the cheers of 2,000,000 weleomers in ths streets, had inspected troops, attended ceremonies cere-monies and visited historic sites. (Continued From Pat Oi treaty bill, ha held each, in turn, at arm's length, and read their titles. As each bill was announced ths king nodded assent Moyer, at saeh nod, announced: "Ls roi, le veult" ("ths king wishes it"). Ths Lake of tha Woods boundary boun-dary act the cooperative wheat marketing act and amendments to ths Canada grain act and the criminal code, followed tha trade treaty bill. The brief ceremony hers In tha dominion capital marked the first tims an American minister to Canada aver had presented his credentials personally to a British sovereign. "It ls a source of . . . gratlfl-tlon gratlfl-tlon to me," Roper aaid to the king, "that my mission In this capital will coincide with the first sojourn of a reigning sovereign among his Canadian subjects." Ths king replied: "I thank you warmly for ths good wishes for the success of our Journey which ths president has requested you to convey to tbe queen and myself on behalf of ths people of the United States. Friendship Cited 1 also highly appreciate your reference to our forthcoming visit to your country. The close friendship between my Canadian people and their neighbors, to which the president refers, makea ua look forward to tha viait with particular pleasure. As the king and queen arrived In Ottawa tale morning a drls-sllng drls-sllng rain failed to dampen enthusiasm en-thusiasm ef cheering throngs. Last night the king and queen slept aboard the train on a aiding : near the eleepy hamlet of Caledonia Springs where all tbe JU inhabitants inhabi-tants ware excited by the cloee-neu cloee-neu of royalty. The king and queen retired soon I after the train left Montreal, at 11 p. m. They were weary from the .day's events. Tor 10 hours, they |