Show i 4 u The Weather UTAH and WYOMING— Friday Saturday fair warmer IDAHO— Probably snow cold NEVADA — Fair continued cold f (Detailed Report h Para Twfpty-On- ft a and Local Metal Prices Silver Copper 30c Lend 375e 615o Zlno 28Sfl e) i n YOL 124 NO 128 22 PAGES— FIVE CENTS SALT LAKE CITY FRIDAY MORNING FEBRUARY 39 1932 n pSSSJBI 28 simwjl xl) wm -- —'mmraj V-s- 3 kJ China Refuses to Move AT FRENCH Troops From Shanghai LINE FORTS Big Guns Boom Defiance ‘Baby Bonds’ Planned to Free Money New Issue War-Tim- to Resemble Liberty e BERLINHITS ON BEL TO HELP BANKS Obligations WASHINGTON Feb 18 (UP)— "Baby bonds” will be Issued by the treasury to coax frightened dollars out of hiding Colonel Frank Knox of Chicago publisher and director President Hoover's antihoarding campaign announced today Knox made his statement after a White House conference with Mr Hoover Shortly thereafter the regular federal reserve weekly statement showed the president's drive against hoarding was meeting with success and that approximately had been taken out of hiding Another substantial indication of returning confidence was seen in the $13000000 increase in the volume of brokers' loans the first substar ial increase in many months The antihoarding campaign was the subject of another conference today between the president George Whitney New York financier and James G Harbord chairman of the board of the Radio Corporation of America High hopes are held by leaders of this campaign for the success of the It was learned baby bond” issue the denomination of the bonds may be as low as $25 and In many respects will resemble the wartime issues of Liberty loan bonds i r Passage Impeded by Oratory No One League Hears Plan Opposes Defenses for Abolition of Peace Hopes Blasted When Leaders Spurn Nipponese Demand New Mancliu State Unfurls Flag HOOVER CONFERS TERMED MENACE Zero Hour Saturday Federal Reserve Unit Encouraged by Loan Increase Germans Insist Upon Equality With f Neighbors Combatants Warned Agai n s t Imperiling Britons Americans (By United Press) (By Associated Press) Feb 18 — The GENEVA Feb 18 — Germany deWASHINGTON credit expansion bill rode th waves Paul Palnleve France’ new pre- manded at today’s sesssion of the NEW YORK Feb 18— In the most to headed senate mier of who aucceeded to that post af- league of nations disarmament contoday oratory since the drastic reform Introduced certain passage but impeded by too ter the aenate voted down Laval ference that France abolish the line country-wid- e controversy over short Laval however will stay in the cab- of steel fortresses which separate the many laudatory friends inet of the new government selling began the New York stock ex of which two countries talk More than five hours that announced begintoday change included much criticism of the bankSpeaking French slowly Herr ning April 1 its member firms will ers as timid and fearful failed to Nadolny presented the German point be required r obtain the express conof view before the plenary session bring a word of opposition to the sent of customers before their stock All the gajleries were crowded and measure itself Leaders were confimay be lent to protect commitments on the down side of the market there were no vacant seats among dent tomorrow will bring passage of The new rule announced by the the delegations the bill which is intended to bulgoverning committee of the exchange wark the banks of the nation — with Germany has already disarmed' imposes severe restrictions upon bearhe said “Its disarmament must be the vast resources of the federal reish speculators and will in the opin ion of brokers reduce short selling considered Indicative of the direcserve system possibly to the extent of 50 per cent tion of disarmament other members Two encouraging features in the unless means of circumventing the seen of the league of nations must folwere outlook financial general In some regulation are discovered low with particular stress being laid tonight by the federal reserve board Tardieu and Laval quarters the exchange's action is beto Re- on the equality or rights of all nam a cessation of hoarding and Inloved to sound the death knell of large seal operations for the decline tions” creased stock market activity Averse Briand to main in the New York market Insists Upon Equal Right An increase In loans to brokers Rumors Cause Lively Rally German project emphasized The ( Taking noted was Return to Montanan and dealers of $13000000 Urges Rumors of the impending action that the German government cannot transthese in trend the first re were upward by the exchange governors Biraetalism to Bring accept the draft convention unless actions since September sponsible for a lively rally in the (Ylr AsvocUted Brea) 3 o’clock 2 statement also PARIS Feb 18— Paul Painlcve who provision is made whereby Germany and The stock market between board’s weekly Back Prosperity this afternoon Terrified shorts who reported a drop of $17000 000 in has been premier before ‘will retain will have equal rights with oiber nadid not learn of the proposed rule money m circulation which Was par In tions until after the close of trading here bally attributed to the drive to bring Andre Tardieu and Pierre Laval "There can be only one system of Atsoeiated Preti) (Br Franwhich in Doumer San to the of the cabinet President market out turned hoarding disarmament" Nadolny said "equalNEW YORK Feb 18—A return to currency cisco and Los Angeles which profittohas asked him to form it appeared Will Distribute Gold ly applicable to all governments” ed handsomely from the urgent cov bimetallsm was advocated tonight by The credit bill 1 de- night Aristide Briand has let it be Here he paused and looking expansion movement MonWheeler K Senator Burton ering to ease the restrictions of the known that he will take no part in straight at the French delegation signed benot were which issues Leading tana Democrat as the best way “to federal reserve system so that banksaid: “Germany demands prohibition the proceedings lieved to harbor a large short interof fortresses in cases where they concash for securities not est rose sharply some of them as bring prosperity to America and the ers can obtain M Painleve one of the most popu stitute a direct menace to neighboreligible for rediscount under present much as 3 or 4 points as the fright- world” rules In addition it would make lar figures in French political life ing countries" Speaking at a dinner at the ened shorts sought to cover their conhotel in honor of Sir many millions of dollars of free gold was called in by the president this The German plan proposed abolitract rather than risk the uncertain- -Astoria Norman Angell a British labor lead- available to the reserve system as a morning to fill the place vacated by tion of conscription prohibition of ties of tomorrow's market in New er Senator Wheeler said only that bulwark against foreign gold with- the resignation of Premier Laval on heavy artillery except for tanks and York United States Steel American would "bring back the purchas- drawals or as backing for new bank Tuesday He got down to work im fortresses limitation of warships to Telephone Sc Telegraph General Mo- step half of the peoples note issues and probably will have his 10000 tons prohibition of aircraft mediately tors Southern Pacific U S Indus- ing power of over carriers and submarines abolition of the Demo- cabinet ready tomorrow trial Alcohol Allied Chemical and of the world who use silver as their Robinson of Arkansas all air armaments and destruction of cratic leader opened the senate disyardstick” Active in Politics Bethlehem Steel were among the only all air reserves or stocks prohibition "For the following reasons" he said cussion with a Democratic claim for stocks which eastern shorts bid for 68 his he has active In been of the use of gas or germs in waryears It is in 'It will be difficult for the world to the legislation re and his with frantically on the Pacific coast Trad- recover from this depression as long originating politics policies fare and prohibition of import or exSenator Glass (Dem Issues to ing goes on there after the close of as the United States remains on the sponsored by the outstanding present port of war supplies Virginia) and Representative Stea- gard the New York markets Brokers said of his those with go along predecessor standard and maintains the pres- gall (Dem' Alahama) Favors World Army Idea as a for He stands tonight they had orders to buy heavily gold security prerequi ent high tariff: The party leader also carried for- site to disarmament and with him as in London before the opening here took a position somewhat Bulgaria ward the attack made yesterday by Cites Barrier lo Trade it is not likely that there between France and Germany AlexEdict Restrlcta Leans premier of and fear" on Glass the In "‘timidity the ratio “First—Tiie wide spread will be any Change in the French pol- ander Mallnoff in announcing the Under the resolutions which the of value between silver and gold is American bankers and gave assur- icy as prdsahted to the disarmament Bulgarian plan supported the idea of governors of the exchange adopted to- an effective barrier to trade relations ance that the bill would stimulate conference at Geneva On the con- reinforcing security through the crealending of between the United States and all na- business by enabling bankers to day the indiscriminate that M Tardieu tion of a world army or a general pact stock out of "long accounts” will be tions that ere now on a silver mone- liquidate their assets and by increas- trary he Intimated would go back to Geneva and resume of mutual assistance on the other "hypotheconfidence prohibited and the ing basis his place at the head of the French hand supporting likewise Germany's Oklacation clause” under which member tary (Dem "Second— and Italy’s thesis of the equality of maintaining the gold Senator Thomas delegation there firms have been accustomed to ob- standard in By United States we in- homa) strongly disputed the attacks Paul Painleve is a baker’s son and rights of nations the a tain sweeping but general authori- crease all debts whether of our own upon bankers as hoarders and asbefore he first went to the M C Maynard negro from zation from their customers will no tarmers or of foreign nations by from serted that the expansion of cur- long chamber of deputies in 1906 he had Haiti ' delivered one ofdelegate the longest longer be considered valid so far as 50 to 100 per cent rency allowed under the bill was gained international prominence as speeches of the conference reading r lending stock is concerned The new "Third— By our high tariff walls we vitaL He urged that the a mathematician His first political a statement in excellent French for rule reads as follows new the limitation privileges from upon nations own fame in his came payoutside European country nearly two hours He attacked the "Resolved That members of the ex- prevent the and be eliminated legislation in us 1917 war their debts the as when minister and goods premier ing Monroe doctrine through inference In this he was of war he proclaimed the change shall not on and after April only possible way in which they can made permanent policy of the league of nations recognized “a 1 1932 lend either to themselves as backed by Senator Morrison (Dem "waiting for the Americans " be paid regional understanding" which placed brokers or to others securities held "Is it any wonder that In European North Carolina) That brought down upon him a “ourselves at the mercy of a foreign on margin for customers unless they countries there is a growing dislike Senator Fletcher IDem Florida) charge of defeatism and his govern- force to which we could make no shall have obtained separate authori- for the United States and a disposi- threw his support behind the legisla- ment was overthrown resistance" zation in writing permitting the lend- tion to boycott all American-madeven stronger tion but advocated ing of such securities it was safeguard against future threats of goods?” "Further resofVed That no general Hits Maldistribution gold withdrawals form of customers' agreement even Maldistribution rather than overTredict Passage it includes the specifically though production he contended is at fault Glass and Walcott (Rep Connecto lend shall be securities right this ticut) who are guiding the legisladeemed sufficient coftplianee with in “One country of most amazing phe tion in the senate made no replies this resolution but such right shall nomena” he tlie said “is that this the to the pleps for greater liberalizabe evidenced by a separate authori- greatest of all depressions has not yet tion and predicted tonight the measzation in writing it was brought forth a great leader around ure would be passed tomorrow in Separate Papers Necessary whom the people were willing to rally the form originally intended That in the or a master plan to guide the gigantic "Further resolved Senator Robinson brought up the cane of the accounts of all new cus- machine of partisanship he said be"Our energies had been largely ex- question tomers opened after the date hereof cause of claims of Republican lead Our ers and papers that the bill was Presithe requirement of such separate au- pended in one direction thorization in writing for tile lending inventive genius has shown us how dent Hoover’s Be contended that ST PAUL Neb Feb 18 (UP) — Solomon Franklin of securities shall apply and it was to create wealth but l( has failed to only recently the treasury heads had "just turned 111 years old" lighted a long black cigar "Further resolved That the com show us how to distribute it for the (Continued on Tfo) tonight and settled back in his easy chair befoie the fire to mittre on business conduct may at common weal" (Column Two) muse on the goodness of life it discretion requfre that the mem For Solomon believes that life is good ber shall at stated period bring to He's seen depressions come and go has fought and worked the attention of all customers their and played through nearly twice the span of life of the avright to revoke any authorization theretofore given for the lending of erage man a CHINESE BOMBARD CHAPEI SHANGHAI Feb- 19 (Friday) (P)—Chinese guns replied today to Japan’s ultimatum demanding Chinese evacuation of Shanghai with a bombardment of Chapel battlefront In which Japanese headquarters said three Japanese bluejackets were killed The bombardment was Interpreted by Japanese army officers as a gesture of defiance (Copyright 1932) - NEW PREMIER PLANS TO KEEP Pre) (By United SHANGHAI China (Friday) Feb 19 — Chinese civil and military author ities today were drafting a flat rejection of the Japanese ultimatum demanding evacuation of all Chinese troops from the Yangtze delta by Sat- TWO IN POSTS SHVER MONEY I xdJ 7 WINS SUPPORT Part i Waldorf- t I one-yea- e Optimist 111 Recalls Times Worse Than These Still Finds Life Sweet Says Country Needs Another Abraham Lincoln Chicago Teachers Threaten Strike After Ten Months Without Pay securities ” The exchange Issued the resolution without cornrm nt It was understood however that the plan had been un der consideration for some time In brokerage circles where the substance of the resolution was generally known late in the afternoon the move was Interpreted as an effort by the exchange to remove all rea sounble ground for criticism of its policy on shmt Selling That insti tut ion through President Richard Whitney has been actively defend the aa a legitimate sale short lng market function Critics Voles Objections Previously however the exchange had not taken cognizance of what is perhaps the most persistent objection on the part of critics of shoit selling —that brokers under blanket author ity given to them by margin cus (Continued on P (Column Flv ) Fit) "And I've enjoyed every minute of it” he told the group of old friends and acquaintances with whom he spent his The map Identifies th6 (eftrnory embraced by the new republic of Ankuo which ha proclaimed it independence from China It boundaries are clearly defined n the north south and east Westward it extends vaguely into the Mongolian plains Republic of Ankuo Proclaims Independence From China Aided by Japan Hr Associated Press MUKDEN Manchuria Feb 18—The new republic of Ankuo born of military conqueset proclaimed its independence irym China rising sun banner over Man- today and unfurled its churia and inner Mongolia five-barr- ed The executive committee of north- - VOTES MOUNT zasternManchuria composed of FOR DE VALERA Ballots Indicate English Foe May Be Next Irish Free State President DUBLIN Irish Free State Feb 18 Eamon De Valera the lanky Spanish Irishman who once was under sentence of death for his unending battle against England tonight became a real possibility as the next president of the Irish Free State All day long the tellers counted the ballots from Tuesday’s general election and the more they counted the farther ahead went De Valera's Fianna Fail ticket In the morning he had 15 seats In the new dail to 12 for President In the government party afternoon he had 22 in the evening his total had climbed to 31 and tonight the Fianna Fall party iind its labor supporters had a lead of three seats in the Dail Flrennn over the government and the Independents The standing was: Fianna Fail 38 (VP) — s Labor Chi- - nese leaders raised to high places by the 4rmy of occupation declared an area half again as large as the Japanese empire and holding 30000000 people to be what is generally regarded as a protectorate of Japan In flowery classical language calling their country the land of milk and asserted honey the proclamation “We have decided to sever relations with the Chinese government and to proclaim complete independence Long Suffering Recalled ’The people have suffered long enough under the maladministration of military overlord That military clique must Ije banished forever The desire of the people for peace is like a starving man's hunger We "We oppose antiforelgnlsm want friendship and peace with all We nalions are determined to maintain the policy of the open door with equal opportunity for the commerce of all peoples thereby promoting mutual prosperity" Nominally the state is Independent of Japan as well as China but actually It is virtually dcpend“nt on the Japanese government for it could not last a day without the protection of General Shlgeru Honjo's army which obliterated Marshal Chang 's authority last fall No Boundary on West The boundaries of Ankuo are dearly defined only on north south and east Westward it extends vaguely into the Mongolian plains whence a few princes came to participate In the convention This was believed to be intentional so that Its frontiers could eventually touch those of outer a communist Mongolia republic closely allied With Moscow (Copyright 1932 ) Hsiao-Iiang- 5 Government 30 10 Independents As a matter of fart the standing was 43 to 40 for the labor party is an ally of the Fianna Fail and the independents usually vote with the There were still 70 pregovernment cincts to be heard from and seven seats will not be voted on until March 3 Feb 18 (UP)-Un- lcss the situation we're going to quit salaries are forthcoming within the work” said Mayor next three days Chicago’s 14 000 "God help Chicago!” Anton J Cermnrk before he went school teachers probably will strike into conference with the city's flnan He hoped they might Miss Agnes Clohesy one of their clal leaders do something somehow to relieve the acute situation brought on by ad spokesmen announced tonight “For ten months we’ve been pati- Journmcnt of the stale legislature without having set a date for the ent-and paylcss” she said "Now collection of taxes some of which we're dcrpeiate The walkout move have gone unpaid for three years When they filed from the Chicago ment is spreading tcaiheia’ groups i tearing house offloe the bankers re are taking strike votes We hat to fused fid say what tf anything they do It but it Is the only way out had accomplished "Unless the mayor and these bank 'The si hoid tenrhers are In the ers he's conferring with aitually do same boat wilh all other city work ers" he said preparing a list of 2479 xomr'hing intend of merely makit g municipal employes who will be dis statemeu's about the seriousness of chmgrd immediately V He’s an optimist this white-haire- d man whose alert mind body give the lie to his authentic age He believes that prosperity is "just around some near-b- y corner” and that its game of is about up “There's nothing to complain of in present conditions" he told his friends "Land sakes I can remember times lots harder than these And we always came through all right” Then Solomon dropped into a moody silence Possibly he wns musing of days when first he came to Nebraska — more than 60 years ago He was a compaiativcly old man then a the aveiago person reckons age But he came to the state as a pioneer lie broke prairie sod with hard hands that had poured steel in eastern mills panned gold in California streams and carried a musket during the civil war There's just one tiling he believes the country really needs today Ilickner says And thnt is a second Abraham Lincoln "If we had a national lender like Lincoln today we wouldn't know anything about depiction" he asset ts and hide-and-se- accepted demanded: Withdrawal of Chinese troops 1 defending and Shanghai Woosung to a point approximately 12 The miles from Shanghai first lines must be withdrawn by 5 a m Saturday (4 p m Friday E S T ) and the second lines must be withdrawn by 5 p m Saturday Complete cessation of fighting by Saturday night 1- Establishment of a permanent demilitarized zone in the Shanghai delta between the international settlement and the sea This 2 Involves destruction of the Woosung fortification including the Lion forts northwest of Woosung (The Lion forts should not be confused with the Lion hill fortifications at Nanking of all Abandonment movements including the economic boycott Protection of Japanese lives and property In the districts to be evacuated Halt on Sniping Demanded To make sure that Chinese troops a Japanese commission evacuate would be sent out over a 12 radius from th settlement to investigate The Japanese wmuld demand cessation of sniping and in return would pledge themselves not to shell or bomb or otherwise attack the withdrawing Chinese troop The Japanese offered only one concession They agteed to withdraw their armed force to within the international settlement after Chinese have met the demands of the ultimatum The ultimatum wns presented to commander of General Tsai Tmg-ka- i the Nineteenth route army defending anti-Japan- 3 4 (Cootlnutd co PM ( ultim i On) Five) Will Rogers Savs: George Bernard Shaw Bruised Feb in Auto Crash in South Africa theCHICAGO more they knock it the big- - anniversary CHICAGO urday night The ultimatum was presented verbally by Japanese Major General Kanlchiro Tashiro who pounded his fist on the desk of Chinese General and later repeated it in Fan Chl-w- u a formal document "The demands are so impossible they render counter proposals out of the question" a high Chinese government authority said “This may be the best thing that ever happened to China shocking our people into nationhood" said Finance Minister T V Soong "We feel the Japanese will not halt with Shanghai We foresee a series of similar incidents throughout China" What Japan Demands The Japanese ultimatum backed up by a threat of drastic action if it is not CAPETOWN South Africa Feb 18 of Capetown when the accident oc Bernard Shaw 75 curred The bay Is on the mountainous south coast of Cape Colony Irish and dramatist author year-olwns severely bruised today in an au George Bernard Shaw recently has tornobile accident at Mossel Bay made long tilp abroad de'plte Ins Ho has been in excel advanced Kynsna Mrs Shaw suffered a wrist lent hullhageBnd hl frrqilcnt 8pr)W Their automobile plunged anoes In public In the last year have injury into a ditch and was smashed been nmi ked by more satirical quips Shaw and his wife who is 65 have than ever Shaw visited sovlrt Russia ahorllv been visiting in South Africa since b(for AJ he pft for December Originally they Intended rica in Moscow and lamingrad he to make the trip to Mussel Bay and viewed the work of the Socialist gov return by steamship ernment which he fiecpiently has Ju-- t before they left Capetown held up as an example for political however they changed their plans headers in other nations and the white bearded author ob lie has never visited America ami talned a driver's license It was pre often has said that he never would aliened that he was driving bnc k from describing the United States in un Mussel Bay which is 215 null's easljflatlcrlng terms (UP) — George i wh ger It gets Due to a mixup in taxes they don't get any so the city is just like a modern human belog—lt has o exist on borrowed monev But it's like China— It's so big nothing ran stop it Going to see Jack Dempsey in his first big romebatk fight tonight Vs old-tiu got to pull for each other Surprised at the war talk you hear Well if we do get In we will have broken a woild's record we will have gotten Into a war for lev reason than any ration In the history of the world If we are out Upholding downtrodden nation It to keep will take a bookkeeper trac k of our wars Yours M $ i s t j |