Show INGTON I i LET LETTER I ER ERI Townsend To Clubs Look to National Convention for New Impetus BY UT SPEC tat l 1 I Those WASHINGTON Thos hop hope hope- hopefuls fuls who look to Dr Town Town- Townsend Townsend Town send send for the panacea for old age problems are encouraged by the thought that the third national convention of ot to be beheld beheld beheld held here late In J July ly may gut gi e ethe ethe the movement new impetus Dr Townsend and his devoted followers have not been very well pleased by recent develop develop- developments developments developments ments In an attempt to borrow bOrTOW 5 on his personal prom prom- promissory promIssory promissory notes for loans of 10 and up Dr Townsend encountered the opposition of the SecurIties Exchange Commission Th T h e commission explained that any any- anyone anyone any anyone one who offered notes to the public for more than tOO tame under the securities act and would have to file an for tor registration Bitterness over this Incident partially dictated the answer c of t Townsend clubs throughout the th country that they would hold a national convention this summer in Washington's Powhatan ho hotel ho- ho hotel hotel tel which is directly across Pennsylvania avenue from the SEC The doctor notified all those who had already advanced him money that unless they wished to have him keep it as a gift gUt their loans would be returned En- En Enthusiastic Enthusiastic En Enthusiastic response to this announcement an- an announcement an announcement from tram individual members and clubs has taken the th form of ot from tram 10 to gifts When Dr Toss To Townsend amend originally asked for Cor 55 5 COO In loans Joans to tobe tobe tobe be secured by his Nt notes he said M xer Nt eral assets at this time asIde from fron tI 11 e a Town Town- Townsend Townsend Town send send National Weekly which is already pledged to the Townsend movement are about When J W tV Brinton manager man r the v d v r t- t tIt It ti LJ t lit were ere ting tang members for tor 25 cents a year dues instead of the 2 officially required he published a severe reproof And these Townsend Club who members who pay half hall a centa cent a week to the support of the th Townsend movement expect Dr Townsend and the Townsend clubs to put over a national pro pro- program program pro program gram which will wm bring them an income for life after 60 80 S b THE reports of Roosevelt's com com- committee committee of six six sent to Europe to study the operative co-operative move move- movement movement movement ment there teem seem to have hav stimulated stimulated stimulated operative co-operative activity in th the capital Newest Washington op co-op is 15 the Rochdale restaurant for whIch more than persons have subscribed to shares of It opened at a central spot near the lh State Department Inte- Inte Interior Interior Inte Interior Department SEC the So Social ial Security Board and is alrea already so sq popular it la Js turning awn awa away patrons Washington Washingto b has s a op co-op gro grocery gro- gro groI grocery grocery I cery store a j op op co-op fashion shop about 88 86 op co-op credit unions a 8 op co-op agency While hundreds of sub-executives sub in New Deal agencies ar are giving time and effort to these enter enter- enterprises enterprises enterprises there seems to be no rea- rea reason reason rea reason son to believe at this thia time that the administration will officially promote consumer operatives co-operatives co as some business men hate e ba feared t f The new restaurant may be betaken betaken b taken as a model of ot operative co-operative co planning It operates on Roch Roch- Rochdale Rochdale Rochdale dale operative co e principles sells shares of tock to k at 5 5 limits pur purchases pur- pur purchases purchases chases to 40 0 h irei a member al allows al- al allows lows JOs JO s but o or e a tote ote ote a ember n-ember c can p pay y a maximum 4 per ru cent divi dividend clivi- clivi GenIi en shames returns return most o of tle PH profits to Nations And P pays y ut on c n wages WU S |