| Show news review of current events the world over r presidents proposal to eliminate utility holding 0 corn com p banies anies brin brings brins s storm of criticism treasury seeks to simplify nations currency structure by EDWARD W PICKARD C weste n newspaper un on T THE HE presidents special message calling for abolition of util ty hold ing companies stirred up a storm that probably surprised even such an astute politician as mr roosevelt the dent urged legislation to abolish tl ose hold ing companies which were unable to show R they were operated in the public interest representative bert rand H snell lean leader abely attacked attached the message claim ng the senator nore norris raade ot president de had de bounced propaganda against the pro posed legislate leg islat on and was himself propagandizing for it utility compa nies ides also swung into the bittle battle and thousands of investors in utility stocks are reported to have sent in protests to congress in the senate norris ne braska republican offered a resola tion calling upon the fedrial trade commiss on to investigate propaganda regarding the legislation the senate approved without debate charges were made by utility companies that because of the administration administrations s c cam am laign against public utilities the val ue of utility securities has declined by three and one half bill on dollars since 1933 enactment of legislation to halt holding companies will vill cause enormous loss to the american family one power official testified before the house interstate commerce committee GREECE REECE is mopping up the loose ends of the revolt some fighting Is reported near the bulgarian border where one regiment part of the rebellious bel lious fourth army corps has de dined to surrender but the revolution Is definitely over Eleuther los ve veni ni zelos ex premier and leader of the futile revolt was reported a refugee at rhodes the tiny island where julius caesar was interned by pirates some 2 2500 years ago was franb feared there by the italian government after he had been landed in italy by one of the rebel warships gen george bar menos rebel commander is safe in bulgaria where officials have refused extradition rebel prisoners are being concentrated in camps and courts martial are functioning in kavala and larissa and mill tary trials have begun in athens it Is believed that only a few of the most flagrant rebels will suffer the death penalty venizelos is almost certain to be court martl marti aled in absen tia and banished forever his blab orate home in athens and his valuable library have already been confiscated and will likely be converted to public use italy has refused to extradite him although it Is possible that new demands will be made by the greek government who will claim that he took funds from a bank n crete un less he Is surrendered he will ably move to paris where I 1 Is tw ta 0 sona sons now reside TUE HE senate smacked down senator bluey long tor for his filibustering I 1 tactics and his efforts to amend th administration s 4 work relief measure the kingfish had demanded alterations in the work relief bill chien would take 4 away from the earmarked for work and allot it to students in colleges and universities longs long s amendment was defeated by a vote of 58 to 27 to prove prone that old adage of politics makes strange bedwel lows long was aided by senator hiram johnson of california who de dared that the senate should have something to say about methods for spending the huge sum sought by the I 1 reside resident nL johnson has heretofore been considered a supporter of the president long s amendment brought forth other proposed changes which should keep the senators busy arguing for several days the bonus bill may be dragged in and an attempt made to make it a rider to the relief measure and and leaders of other ests will insist on having their say A ALL LL outstanding first liberty loan bonds have been called for re dempt lon by secretary of the treasury the 9 out standing has been called for june 15 before which time the treasury will likely offer lower interest bearing securities in exchange for the first liberties saving saying the government some in annual interest charges EW deal policies took two more 1 I batte rings as federal courts held both the AAA and un constitution al as regards intrastate business the administration might find some consolation in another ruling which held the radical I 1 lemke farm mortgage bill was val d federal judge merrill E otis at 1 kanbas abbas C ty declared the araz er lemke law was constitutional although unwise in many of its provisions and almost incomprehensible n atter judge otia otis sa d his ruling v N is not tl e first in which th act was il hel I 1 ai at I 1 tl at an appeal was already I 1 f re tl it L united states supreme court an I 1 a leiis lecis lei is on oil in be expected short ly the AAA wis was w is declared am all 1 as regards intrastate bus ness oy by federal judge ira 11 II y I 1 letts at I 1 io ideale R I 1 who ho issued an injunction rf re straining secretary of culture wal lace from encore ng no tt 11 e act against three rhode island retail m ik dealers on the grounds that their bus ness was conducted with n the state and the national government had hao no right to interfere at newark N J fed red eral ju ige guy I 1 I 1 ake ruled tl e na dional recovery act tl as appi appl ed to intrastate comma ree be cause it attempts an unlawful delei tion of legi legislative slathe author ty the lit ter decision agrees with that handed down by federal judge judg e melds in the controversial weirton steel lisp ite C ADOLPH hinaus diplomatic cold is over and he will welcome sir john simon british foreign secretary to a conference be ginning march 24 at aiding aing sr john will be capt anth ny alden lord privy sea seal and d ament authority after the bert berl n vis t r len will go to moscow to jo talk with soviet the berlin conferences will nill disca discuss s legalia le aliza t on of germany s rearmament in ex change for an air locarno pact with great britain trance italy and lei bel glum and an pastern eastern security pact with poland and russia lim tation of arm ament by all nations will also be tal en up the visit is complicated by a re cent announcement that gern any pos besses mil tary aviation in violation of the versailles treaty because of this france may invoke the rome accord with italy and franco britis i declara tion at london in support of its move to keep heep the belch from giving the air force off official iclal sanction S SECRETARY OF TUG THE TREASURE revealed plans to dip into profits from gold seizure to re tire of the Dat national ional debt through the use of gold certificates po tent lally ally inflationary it will deprive na ion a al bani s of the power OA to issue currency and save the g k an a annual n n u a I 1 interest charge of 13 00 w questions on inflation ary implications wre avoided by treasure officials bu but hev hey ad secretary bitted the plan would put p gold g ack back to work which can be expanded the maneuver will place in the hands of the federal reserve banks of gold certificates must be used as backing for issue of the same sum in federal reserve notes to retire the bonds note issue against tbt bonds could be expanded if cir ir rency demands warranted to about 1687 since a federal reserve note need not be backed by more than 40 per cent gold or gold certificates in I 1 ke he percentage what will ha hal I 1 eu will be the immediate simplification ol 01 our currency system the treasury and federal reserve banks will have all the authority to issue money the p an involves retirement on au august ut I 1 of 1325 of 2 per cent federal deral f securities and substitution of f lei eta a reserve notes foi of out standing national bank cur currelly renly rhese bonds will be retired with i r plus funds created by devala rire rg I 1 Ioos oo sevelt evelt dollar from een cents ts to row cents gold the total vas 2 national bank notes issued by na dional banks against federal security tt represent more than one tenth of 0 tn th nations circulating currency the ad ministration ministrations s program 1 kely means the permanent abandonment of the na elal bank note v hibb has been used since the civil war the circulation privileges expire on all bonds deposit ed by banks and held in trust by the treasury on tuly 22 1935 except on two issues by calling for redemption the treasury will retire all securities bearing circulation privilege and na dional banks births will no longer have su t able security for issi ance of their own notes C collapse of tie admin rations s long battle to regulate reg regi late prices in the steel industry is seen in an MA NI A offer to give gie up and in charges by the federal trade commbs sion of a fiasco of collusion the trade commiss on ins ats that price fixing be scrapped and no prosecution of steel companies under tt e anti trust laws the trade commission charges that under the code the steel companies have fixed and raised prices on government contracts in defiance of competitive bidding requirements bids were ere identical and then steel executives slapped fines of 10 a ton on members who let tl tie e government have steel cheaper the commission says numbering ap proximately 2000 marched into the minnesota state capitol at st paul and harangued legislators with den ands in behalf ol 01 the idle ranks threats were made to picket the capitol unless demand demands were met 1117 hou house houte te appropriations coi cot unit tice tee rip arted out the dei aitu ent of apar t ull III for ali the ino fiscal beir A cut of 13 S 8 was d e I 1 1 RIP i 1 irela to a ill qa 4 8 13 slash in the VAA kaa item the total bil bit cills calls for 6 32 87 8 f vh wh ch 0 00 would go to the agri culture adjustment ad ad minis tiati a es at comm atee hearings it 1 it vi was is exi I 1 11 I 1 ned tied that aa J it is impossible to esti mate how m mich ich would aa sec y wallace allace hake to be obligated because of the crop control pro program gram bit the kaa item WAS nas a rough esti estl n ate of processing tax collections collections and Is not riot cor cot troll ing henry NN allace all ice sec see detary of agriculture told the tile commit tee tl at the farmers shire share of the na dional income Is n w about per cent and that it should be 13 to 16 1 er cent allace said trie tr ie prosperity can not come until there his been a very material increase in tl e output of phys icil leal gods goc ds in I 1 estrial goods if in some way nay it were p isible to turn per cent moie mote industry a al goods at a price definitely lower than the present price the secretary test fied fed the result would be to make it p ss ble hie for agriculture to buy more with tl e agricultural dollar and there would be more factory workers to be fed in the c ties CV I 1 EN EX tl ough the senate will not act rimmed dimmed abely on the pink slip bil bill to repeal income tax publicity income tax figures will not be available to the public for six months according to internal revenue officials while it la is likely the publicity act will be repealed tl e house having so voted it Is not an tiel that the senate will act on tl e measure for some time arven though the latter in not act favor ably there remains considerable work to be done before the figures can be made public and income tax payers may be confident that prying neigh bors cannot have immediate access to such information in the senate a drive has I 1 een started for h gher fed eral income and corporation taxes FRENCH RENCH courts have formally in dieted 19 persons including mrs tor for the scandal that rocked the government after the financial debacle which caused losses of to gillons of francs to investors Invest ois had broken known as hand some alex died from a gunshot wound as police tried to arrest him in january 1934 A twenty months of bar ix gaining the documents conveying full title to the chinese eastern rail way to Manchu kuo were initialed initiated in tokyo thus eliminating russia as a factor in Manchu huo the written ap of the agreements was signed by koll hirota japanese foreign min ister dr constantine so viet ambassador to japan and by gen ting shihhuan shih yuan minis mints ter of finance the consideration was yen or about the documents require that all three governments approve them before their formal signing about march 23 thus Is 14 ended forty years of russo japanese contention for domination NEW gold suit Is menacing admin ANEW Al financing and money pol acles the suit reopening the question of investors claims for payment of 1800 million dollars of government bonds in gold or an equivalent Is brought by robert A taft son of the late chief justice over the sum of taft demands either payment of bonds in gold or suspension of all refunding of the gold clause certificates before going to court taft presented to the tile treasury a ja 0 gold clause liberty bond and tour four interest coupons at cached and demanded gold for both but was refused the suit may force the administration to close the loopholes left by the supreme court decisions it if that Is possible HF mendieta Mend leta administration in tuba cuba has established a mil tary dictatorship over the island cons titu dional law has been suspended the death penalty for rebels imposed and military governors designated for havana and provinces washington is watching the situation with keen leen in terest bombings and rioting are in creasing accord n ng to reports i iab ten dead and fiete fifteen a injured the ab jec tives of the opponents of the gov removal eminent Is the removal from office ot of president Mend mendieta leta and colonel ful genalo batista chief of the army the rhe strike has become almost general nearly paralyzing all activities in the island repressive measures taken by the government to quell the strikers strongly resemble the strong arm methods prevalent in the machado regime according to observers senate passed the army appropriation THE pria tion bill and it now goes to the house the measure adds to the original bill making the total appropriation of al most a record high and will add 46 to our army strength making the total of enlisted men warm talk flowed freely as the senate debated the measure senator lewis said that conflict might come between russia and japan and he asked with the army of russia and the navy of japan where do we stand senator mcadoo also speaking in favor of the bill said unless we want to continue to be a boob nation we will not hesitate to make this increase in the army it Is justified by the wisdom and the necessities of national defense |
