Show r THE OGDEN STANDARD TEXT OF HOOVER CHINESE CHIEF HELD AFRAID TO PROPOSAL FOR DEBT HOLIDAY GOVERNMENT TO 01VN RAILWAYS? - EXAMINER JUNE eSUNDAY MORNING semi - governmental ownership of railroads and had ever since been earnestly striving to make private ownership of railroads a success for both investors and employes ANOTHER SITUATION consequences by whe policy of the railroads in seldom retiring any part of their bonded debt and in steadily enormously increasing the total of it In the years from 1900 to 1929 railroad stocks representing ownership and risk were increased approximately 70 per cent in volume In the course of those same years railroad bonds representing indebtedness and annual "fixed charges were increased approximately 150 per cent In 1900 the railroads had to pay on their bonds in annual interest the sum of approximately In 1929 on that same $250000000 fixed item they had to pay approximately $580000000 Can the railroads in the fnidst of all their accumulating business misfortunes many of which are in no way derived 'from the depression continue to earn one and one- the amount of such fixed £alf times charges in order to make their bonds eligible for savings banks and for life insurance companies and in order thus to keep thir sources of private capital for the necessary developments of their properties BUSINESS MEN 21 1931 HOOVER OFFERS TO MEET HERE DEBTS HOLIDAY The situation then took the folh lowing form: A—The arrival at increased rail(Continued from Page One) From Page One) (Continued from Page One) '(Continued road through wage reducvidual reports portraying their phy- our exports and in a measure are financing can or can not continue tions earnings was at least for the moment to be adequate for our railroad discarded sical conditions and outlining plans the cause of our continued unemneeds to meet the needs of each industry ployment and continued lower B — Milton W Harrison trustee of He Delays Leading Troops WASHINGTON also up to the minute Information prices to our farmers CAN’T CUT WAGES York New bank the Bowery Savings June 20— (AP)— continued unemployment and connew construction and concerning RELIEVE THE PRESSURE railroad president who figured and president of the Railway SeAgainst Insurrection The text of President Hoover’s pro- tinued lower prices to our farmers inThe If any service changes AmeriOwners of the association incident life told insurthe "Wise and timely action j should curity "Wise and of Reds These meetings are held perioditimely action should ance company manager who had ca addressed a gathering of the posal to the world for a one-yeto contribute to relieve the pressure of relieve contribute the Colof states pressure of cally throughout the moratorium of all governmental these adverse forces in coun- interrogated him that his railroad Brotherhood of Railway Trainmen and orado Idaho these Utah Nebraska foreign STEPHENSON adverse forces in foreign CHARLES now By laid off a lot of men had and discoursed to them on the link debts follows tries and should assist in the re had next The goes SMITH Wyoming meeting countries and new of should between assist in the investments the savings Improvesuspended The Amican government proposes establishment of confidence thus largely to the state of Wyoming in Sep Chief of The Associated Press of ments life had banks insurance confidence and curtailed companexpenlargely the postponement during one year forwarding political peace andjeco- ditures tember followed by one in Idaho forwarding political peace and thus Foreign Service ecoies in railroad bonds on the one maintenance and had upon nomic in world the all on of stability payments intergovernmenduring December Everyone internomic stability in the world”’ so in on (Copyright 1931 by The Associated tal debts hand other the fact hand the and diminished its greatly CONGRESS MUST ACT ested in these vital discussions rereparations and relief Press) care of Its track and of its equip- perpetuation of 'private ownership Congressional action will be redebts both principal and interest of whether they are enroll quired of NEW YORK June 20 — (AP) — of to to approve a suspension gardless the deal ment of Authority the not United in States railroads would that president be it presently course not reed as members of the board or not While congress Including obligations with this problem is limited as this able to run its best passenger trains The railroad trade unions joined President Chiang does not meet unare being urged to attend the field of governments toheld by private par- action must be supported by the con- at their present speeds The life in- themselves to the railroad executives til December nine of the war paypeated delays in taking ties confirmation by gress The president has been as- - surance Subject R E Shepherd president of the ments is due urJii December 1§ For personally against the insurrection congress company manager asked in the request to the public federal the American government Wed the cordial support of lead him: state chamber of commerce this reason and for the reason that Idaho inin Kiangsi province have given rise will 15 cent a for authorities per all payments upon the ing members of both parties in the will as chairman( of the ag so many leaders have pledged coto the suspicion that the politics’ debtspostpone rates crease preside in freight What about the wages of foreign governments to the senate and the house The essence reducing flowing? freely situation at Nanking is so critics: American ricultural coun’J The meeting Monday operation the president does not spectacle thereupon presentgovernment payable dur of this proposition is to give time of the men still in your employ?” ed is that E Bristol Utah state chair- regard an extra session necessary REDUCE MUST BURDEN he dare not leave our of railroad Ralph industry the fiscal year beginning July to permit debtor governments to re That suggestion the railroad pres- employers and employes man of the board will preside at Secretary Mellon who is in Lori- -' China’s most brilliant soldier is 1ingnext conditional It Is a question which has aroused the together on a like post- cover their national prosperity I ident earnestly He differso rejecthobbled rejected don played a leading role in the neby earnto increase railroad Tuesday meetings apparently striving ponement for one year of all pay- am suggesting to the American peo- ed it for three reasons grave Concern in the I C C Comences among the various factions of ments which brought about the order in that ings on private large missioner debts ple that they be wise creditors in 1 —It was contrary to the general scale Eastman in con- will no longer he any Interest gotiations Mr Hoover dealt Joseph the Kuomintang the party which owing the intergovernmental of railroad understanding properfinancing creditor pow- their own interest and be good American notion and to the special important to whatever comcreated the nationalist government ers him Ambassador decision the of in the charges Dawes ties life bank and pay” through curring through savings Hoover administration policy which insurance sum: neighbors now in this country and the In is that he can not risk backfire from of company in mission the "O’Fallon famous purchases holds our next period of prosLIST OF CONGRESSMEN "I wish to take this occasion also that The primary cause for the ap- president said he had indorsed the the capital bonds may continue to be case” said: the "This course of action has been to frankly state my views upon our perity should be based upon main- railroad before the proposition He also said Owen D of the General Chiang describes pearance feasible legally by the following senators: relations to German reparations and tained present wage rates must be found whereby I C C for a railrpads "Means increase Young of New iork whose name is rate troops which are raiding Kiangsi as approved the from railroad That earnings His opponents declare the lenry F E Ashurst Hiram Bingham the debts owed by us by the allied 2— Under federal law the nego- point of savings banks and of life the burden of overhead capital is their bonded indebtedness and on the German reparations plan now Reds Borah James F Byrnes governments of Europe Our gov- tiations for wage reductions even if insurance is William account of the railroad the necessity for making that in- operating had approved it Dawes movement is not communistic companies are now well charges oncan Arthur Simeon D Fess ernment has not been a party to or successful would consume possibly on a a tr Capper demons but be reduced If this debtedness continue to attract in- and Young have led two reparations not a bandit raid properties line the toward their way danger U Fletcher Carter Glass exerted any voice in determination two years and would accordingly afDuncan were the indebtedness There would seem to be conferences govern- vestors Nanking 1926 is undeniable In against the railroads ment without doubtof the would William J Harris Pat Harrison of reparation obligations We pur- ford no immediate relief two be ultimate 'ways out One ment’s methods of handling affairs Cordell steps were just at the of f annual rate earning Hull William H King posely did not participate in either 3— It was wholly unfair to the railto to MILITARY GENIUS taken reduce is such increases' whenever in it grant particularly on 498 their total valuation the In Morrowor W H division the labor road ' Both the nationalists at Nanking Dwight George general reparations DEMANDS TAXATION of national prosperity organizations which An required to meet the legal needs of David A Reed Claude A of colonies or property The repay- many years ago gave up their agi- first four months of this year they times PASO Tex— (UP) — The EL which illustration life used have I often banks and insurance and the nationalists who have form Moses savings were at the annual rate is Rob- ment of debts due to us from the al- tation for the “Plumb plan” and earning Swanson Arthur Vandenberg Canton at of new substito of the Boston The other is that strange ed the government spectacle of a property owncompanies F Wagner David I Walsh lies for the advance for war and other projects of governmental or of only 211 The reasons given for They are owned subways er our tute the that his land be taxed railroads the in have called congresses of the Kuo- ert begging by city They cheap are downward this process Thomas J’ Walsh James E Watson reconstruction were settled upon a October in El comare to held be to Paso county commiscomforts leased of the the credit government along operating4 mintang the following representa-ives- : basis not contingent upon German jring about this depression we trust Irrespective of the rea- pany for a yearly rental Victor of T Sambrano ownfunds sioners with Both factions claim to be true rep- and byIsaac per ingovernmental sinking sons as a exists fact it The or related thereto that by this evidence of our desire to Bacharach Joseph W reparations 385 acres er of land insists his cent to is which meet more of sufficient of the credit the for resentatives of Dr Sun Yat Sen and 3yrns Sari R expensive Chindbloom Frank Therefore reparations is necessarily assist we shall have contributed to vestors look at the fact fin- land should be taxed and became on interest the indebtedand institutions' thus his three great principles company’s private James W Collier Charles wholly a European problem with the good will which is so necessary NEVER RETIRE DEBT ness and at the same time provide ally bring the annual fixed charges very angry when county officials reGeneral Chiang is a military Crowther R Crisp Thomas H Cullen George which we have no relation in the is is a solution been of He this fact has a else It that grievabove major sinking fund which in due course of the railroads down to a more fused to tax the land on the belief it everything genius A “I C not do P Darrow Harry approve in any remote Estep WillisMc- sense in accentuated its investment will retire the debt so that there manageable compass lies in Mexico ously greatest at the head of troops His Hawley Carl E of the cancellation of the J C historic march from Canton against Laughlin Earl C Mapes Wilus to C Michener debts World confidence would Hankow and his triumphal move- liam Ramseyer Bertrand H Snell not be enhanced by such action ment down the Yangtse to Nanking John Q Tilson Allen T Treadway None of our debteor nations have in 1927 stand high in the annals and Will R Wood It has been ap- ever suggested it But as the basis of of Chinese military history proved by Ambassador Charles G settlement of these debts was the A UNIT At that time he had Russian mili- Dawes and by Owen D Young capacity under normal conditions of and Borodin advisers many tary of this action is to the debtor to pay we should be con“The OF Russian officers who have been give thepurpose to the sistent with our own policies and year forthcoming adWALGREEN trained in the czaristic schools economic recovery of the world and principles if we take into account vised him in a political and mili- to help free now existforces abnormal the the situation recuperating CO he broke with the already iri motion tary way before in the United ing in the world I am sure the Rusthe banished and communists States from retarding influences Amerian people have no desire to atsians from abroad tempt to extract any sum His foreign military advisers now “The world wide depression has the capacity of any debtor beyond to pay 50a po$100 are Germans They are notKrie-bANIDENT of Europe and it is our view that broad vision affected the countries OVALTINE litical advisers Lieut Colonel TOOTH more severely than our own Some requires that our government should of Munich a former Fascist of these countries are feeling to recognize the situation as it exists PASTE chief 35c OLIVE OIL leader in Bavaria is Chiang’sLinder-manextent serious ENTIRELY of the this CONSISTENT drain n 50c P E B E C O 4 Ounces military adviser Generals depression on national economy The "This course of action is entirely and Gudovius both Germans fabric of intergovernmental debts consistent with the policy which TOOTH we are advisers to the Chinese general supportable in normal times weighs have hitherto 25c BICARBONATE OF We are not PASTE 18c staff Lieut Ottfried Fuchs a for- heavily in the midst of this depres- involved in thepursued discussion of strictSODA Pound Tin 50c IPANA mer German war ace is with the sion ly European problems of which the Schramm-Johnson’- s TOOTH PASTE Chinese air forces Baron Von From a variety of causes arising payment of German reparations is 35c HIRE’S ROOT BEER Wangenheim is the adjutantGen-of out of the depression such as the one It represents our willingness EXTRACT 60c FORHAN’S Lieut Col Kriebel and Major re- fall in the price of foreign commod- to make a contribution to the early TOOTH PASTE is German also Hummel ecoities and lack of confidence in eral restoration of world prosperity in 65e WALGREEN PLAIN Chinese gendarmerie nomic i and political stability abroad which our own people have so deep INGRAM’S 50c PYROLAC organizing the used 49c $100MILKWEED 1100 MALTED MILK as an auxiliary there is an abnormal movement of an interest so it may be TOOTH PASTE KRANK’S to the army Dr Blum Dr Metz-n- gold into the United States which wish further to add that while I CREAM 55c WALGREEN CHOCOLATE LEMON 25c LISTERINE and several other Germans are is lowering the credit stability of this action has no bearing on the 43c MALTED MILK TOOTH PASTE CLEANSING employed in advisory capacities at many foreign countries These and conference for limitation of land the arsenals in Hankow Nanking the other difficulties abroad dimin- armaments to be held next February CREAM 25c DR WEST’S $125 ish buying power for our exports and inasmuch as the burden of compet- and Shanghai 2 TOOTH PASTE 89c S M A in a measure are the cause of our itive armaments has contributed to MYSTERIOUS PARTY the The mysterious Kuomintang $110 $100 ORLIS LIQUID ANTISEPTIC 85c MELLIN’S Sun I 16 Ounces 49e strange party created by Dr B PAUL’S 56c FOOD Yat Sen which embraces all sorts JAVA 50c HENNA "4i str $100 LISTERINE of patriots and is divided into many POWDER 25c EAGLE BRAND MILK 65 c 14 Ounces a been probhas factions always lem for military-minde- d Chiang It 17c 3 49c $100 Is a blending of Russian commun73c LAVORIS istic political organization and the 25a CITRATE OF 75c Idealism of Sun Yat Sen It dom19c $100 FLETCHER’S MAGNESIA 50c MOUTH WASH inates the nationalist government or GLOtER’S LABLACHE at least pretends to dominate itwas MANGE POWDER President Yuan Shi Kai REMEDY thwarted by the Kuomintang When he threw the members of that party PICNIC OR $100 PROBAK RAZOR out of parliament and suspended ST TOURI 59c BLADES 10’ JUG Crockn the constitution the Kuomintang lined members met at Canton and organcaized the military movement which WNk w 50c CREAM OP 50c ORANGE FLOWER $100 pacity would undermined Yuan's power and 33c ALMONDS LOTION GILLETTE SKIN FOOD 'Gillette have overthrown him had his death RAZOR BLADE not ended the quarrel 75c ORANGE FLOWER $100 CREAM OF BLADES 10’s And now the Kuomintang threat 49c 65c ALMONDS LOTION SKIN FOOD JAR FOOD’ ens President Chiang It has under One gallon 50c HINDS' HONEY AND 50c PERFECTION gone Russian treatment since the in the capacity Kai Shi Yuan 33c lined crock days when it foughta written COLD CREAM ALMOND CREAM platand has acquired 35c GEM form through the will of Sun Yat $100 HINDSrlHONEY $100 PERFECTION RAZOR vllle CDesixjm 63c COLD CREAM Sen AND ALMOND ClfcEAM BLADES Under the Manchu emperors and BULLSEYB WCSTCLOX the famous empress dowager China 35c POCKET WATCH was held together only by conciliatBy the Makers of 50c JERGENS’ 89c 23c unbreakable Crystal of the provFROSTILLA ing military governors COTY’S LOTION $100 35e inces and pitting them against each QAn 50c POWDER OUL RAZOR BLADES other If one governor became suFROSTILLA the $100 JERGENS’ PQa premely strong and threatened And Coty’s New Style domain of others it was necessary LOTION 25e GOLDEN GLINT New Style and color comblna- $125 PINAUD’S Lip Stick FREE to clip his wings 98c unLILAC tlons VEGETAL not is New China apparently 43c like old China in spite of the 19 c modern ideas imported by a 50c KRANK’S 10c 19c 60c MULSIFIED CO- few leaders with western educa 33c LATHER CREAM COANUT OIL tlon Chiang has become so strong 25c PERSIAN SHAMPOO he is feared by the Cantonese and fl00 MASTERCRAFT ELEC18c 25c ZINC Chinese'leaders in -the district south HAIR OIL TRIC CURLING 18c 50c EGG AND QO of the Yangtse So they have STEARATE IRON started to clip his wings OIL SHAMPOO 50c PERSIAN Both the Nanking and the Can50c LEMON CASTILE HAIR OIL ton governments proclaim themselves the defenders of the democ33c racy and the economic rights of the EPSOM LEAVE CAPITOL ar I Kai-She- k's I I ? i')' - ight --t- ion i multi-tudinio- rJrTTOESWEP -- el P§I 23c us 29c ( You Always Save 23c at er 73c $100 Hillrose Velvet Cream with each purchase of Hillrose Cold Cream Face Powder 79c for for 29c 73c at Now Showing COMMUNITY CHINA 49c 49c one-gallo- 33c 59c 37c Qrosvenor cMoblesse CDeau 26c COMMUNITY PLATE 69c $189 33c Bathing Caps 37c 26c EVER-READ- Y $179 ‘ so-call- ed 25c 35c 43c j 37c $125 Chinese people while puzzled foreigners watch a political organization which contains only a slight minority of Chinese and is split Into many factions threaten the republic at Nanking so-call- Budget SALT LAKE CITY June 20-(A- — Sheriff Grant Young was asked today to investigate a fire which destroyed an empty powder shed early toda$ at Bacchus site of large powder storage buildings The sheriff was informed that pans of oil were discovered nearby Only the fact that the oil was of poor quality and had failed to burn prevented even greater damage it was 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’ 50c 330 980 EPSOM SALTS prophylactic! 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