| Show news review of current events the world over germany germanys financial plight worries all oilier other nations If hearings eurings on railway freight kale rate increase cease begun B EDWARD BEDWARD V T PICKARD HILE all the world world looked on with anxious interest germany as plunged into a financial crisis that threatened the country with mith utter economic collapse nail mado made possible even cien the super 1 ston of the govern goern m anent en t delay in acceptance of the gate gates W I 1 looi looker or moratorium mcgarrah Me Garrah by france had resulted in the withdrawal of vast sums from lie the german ban banks tin conler conversion sion of these funds into for eign currency and its removal frum tile country the big ter und national tl onal bank closed its doors primarily because of heavy losses sustained the fall ure of germanys largest wool combing concern dr hans lu D ther president of the rushed froni from berlin to london nn and thence to carls seeking aid the trench government goern ment refused to par in a loan to the helens bank unless germany mould agree to condition conditions which berlin regard ed as impassible impossible of acceptance these included suspension of the pocket battleship building program abandonment of the autro metro german cust uina union further credit restrictions strict ions in to germany and helln ment of any hope of regaining danzig and the danzig corridor president ident ton von hindenburg and his ministers mid said they resign rather than submit to these demands mands luther then lew flew to bisel and laid the case before the bank for international settlements and representatives resent athes of american british and french banks gates ivale garrah american president of tho B I 1 S announced thai that the dirac tors of that institution had aarl agnich ed to renew its p in the rediscount credit of accorded to tile Reich shank lune june 25 and due on july 15 this credit was mas advanced jointly by the tile federal e hink of the lie united S 9 ales ates the bank of france th the e bank of I 1 ingland and the world bank the sum was welcome to I 1 luther uther but it ft as only only a drol drop jin in the bucket mitch he had to oil fill M r nAN A 14 V 1111 IM t the he german g gover 0 v e r ardent ordered all banks closed for two days up the stock stoc exchanges for a week and decreed a two day moratorium at it thus checked the exodus of capital and the transfer of marks into foreign currencies or securities hans t luther 1 curi ties for the time being there was some rioting but in general the tile german people I 1 the calmness of despair the german authora ties cannot believe that america and the other nations of europe would mould permit the insolvency of german and the decree issued b by y president von ion hindenburg stressed the fact that the crisis was largely metaphysical and due to lack of public confidence at the suggestion of the french government an important confer once was mas held in paris saturday and sunday the chief participants participant from other nations being Chin ceis lor bruening and foreign minister curtius of germany foreign seed secretary henderson enderson II of england an and d secretary stimson of the united states this nas a preliminary to a conference in london called for july 1 20 0 by the british govern ment to represent the united baates at the latter president line ur ier designated secretaries soa and vellon it was under stool they would mould not concern them bolus ats ith matters of luro peon politics and ur air stimson already had bad i explained that this go government not participate la in a loan to germany that matter resting en with the federal reserve and private banks president hoover kept in close touch with the german situation but it was the official view in washington ashington 11 that germany must help herself by strong measures and that in the matter of outside assistance assi europe must take the lead mr air hoover took the post tion that in to bringing brini ing about the moratorium he had done all that lie legitimately and properly could coull 1 france refuse refuses to be ibi glied by the attacks on her tier apparent harsh ness ress toward germany she holds hold is that her demand demands are aro fully justified and that they tend to promote the cause caus 0 of world dl and ard to asare as are ore security for europe in general and france lo 10 lar C HARLES 0 EDWARDS deno VJ crat represent representative athe in con cress gress of the first georgia strict died suddenly of cerebral hem merhage hage in atlanta he tie was fifty atty three years old and his home was in savannah mr air edwards death restores to two the republican ma in the tile house ile ie nos the tile seventh men denber her of that body to die since the election the republicans now have members to for the democrats and one farmer former laborite thero are only six va vt tf t ran fancies cles for that caused by the death of aaela of louisiana has been filled by the election of an democrat john overton instigation was mas ordered 1 by secretary of commerce lamont into charges made by dr kny 0 hall that he had been dismissed from the department for against falsification of the recently issued report on the balance of international pay ments hall who lared most of lie the report alleged figures ft mere ere juried juggled and detections made to suit political expediency he lie bald said particularly that a cotaunt cor aunt to the effect that impending tariff legis lotion possible was in part sible for merchandise imports hold ing up relatively well mell during the first arst halt half of the fiscal year 1030 1930 ha I 1 been omitted in the tio lion 1 ahe point he lie had endeavored to bring out and he raid said was omitted afta a that in anticipation of higher tariff rates later foreign shippers had bent seat gri gealer ater quantities of roods goods to this country dur ing the arst part of the fiscal year than otherwise would have bare been tho the case RAILWAY AILWAY ceals shippers OR and other interest cd ed persons eath gath ered in washing ton for the hearing before the in ter state commerce commoss commission ion on the application of the railroads for or an increase of I 1 15 per cent in rates on all oil freight le it ezra brainerd Is 0 one ne of the big J jr r rest gest questions that chairman H z r a brainerd jr and his fellow corn com miss loners liae had to handle for some time there wis was no disposition tio to question the fact that the railroads are in a sad financial plight the problem Is to find the remedy in the first five months of this year the class one railroads hid bid a net railway operating income of or 2 10 per cent on their property investment and 44 of the roads operated at t a loss ot of which 14 were in the eastern 0 6 in the southern nod and 24 in the west era ern district conforming to the wish of prest dent hoover that existing wage mage scales be the roads are seeking an Inc increase of revenue in increased rates but their execl tives hai have e nado made it plain that if this Is not granted ages mages will have hae to come down domn many blany shippers have haie let the commission know that they favor the latter alter nithe assert ing that they cannot bear higher transportation charges president cooer has taken no part in the controversy but secretary of ag ri culture hyde has publicly asked the commission to take into consid aeration the fact that while the rev denue of the railroads dropped 10 per cent list year tie tle revenue of tho the farmers dropped 10 per cent that farm prices are down donn to prewar level while freight rates arc are relatively high thit th it with mith many products taxes manufacturing costs and railroad rates cm cin be bp passed on to the consumer but that the farmer cannot pass his costs on two security holders committees appeared before the commbs ion lon to set forth the danger that many nil mil lions of dollars of rail securities may become ineligible for life in to su burance sura rance savings bank and other in vestment unless the freight rate in crease Is granted one of the corn cont represented life insurance and savings bank interests and the other trust and fire insurance corn com panics and institutions in an effort to determine heth er certain practices of the rail roads are with e ens ln m leal and effi efficient clent management the into commerce commission announced that it would conduct aa an investigation on its own onn motion into practices of carriers which at af feet the operating reven revenues lies and expenses among the practices the corids slon Is investigating are prices price paid tor for railroad fuel and the handling of coal at tidewater ports lake lale coal private freight cars the spot ting tin of cars at industries and the construction and maintenance of tidings sidings for shippers C PARTS APTS GEORGC GEORGE ENDRES ard VJ alexander magyar of the hun garlan army made a remarkable nonstop flight from harbor grace 11 F to within 14 miles of buda pest that city was their goal but their fuel ran out just before it was reached joseph lebrix and marcel doret rea two famous french aviators set out on a non nonstop atoo night flight from paris to tokyo haying to make the miles in ca hours they were making good regress when the they y were forced down in siberia miles from the plane was ruined and lebrix was slightly in aured S OVIE T russia has taken an u other step in to its return to old time aa ways it has ben decreed by the peoples for agriculture that payment to work ers on collective colled lve farma forms shall hall henceforth be made only on tho the basis cf quality and quantity cf of work performed the ineas ci casaro sura li Is designed to increase the tho amate material late rested new ot of the farmers and thus enlarge production heretofore collect collective he farmers haro have been paid partly in money from form farm car nirgis end and parti partly j in produce to the size and needs of their carull ce ca many tak ing their share of produce at the outset of the harvest these factors combined with ith inadequate organization and management of faring farms were cited in the decree decre as 11 responsible for a break in labor labo discipline and consequently antly tosses losses from the harvest EIGHT nations through their representatives at Cle nevo signed an international convention coment lon limiting the manufacture and regulating the distribution of narcotic drop drugs and it atas as expected that other signatures including that ot of the united states would be added ithan a few days the treaty as the result of discussions of delegates from 56 nations which bao am been in progress for many week ecke among the tile first to sign u cre ere germany fiance I 1 holland loiland smi switzerland tz great britann and japan six alx lx of the leading manufacturing states turkey and chief opium producing states are cot not expected to sign at present P 1 I HILE has a new cabinet headed VJ NJ by pedro Blan quler who besides being premier Is minister 0 of finance filia uce blanquies Blan quler was nas formerly fleance und and public works ir InIster fill is ft ell as director of the state rail nays he ile ij regarded g as an tin edi ellI clent technical man and sad it Is bellei believed ed in santiago thil thit he lie can find the remedy for the precarious slate state of tf chilean finances FROM the mite alte house louse came an V official reply to the attacks on the tariff commission that have haie been teen made by senator joseph T robinson of arkansas and other leaders tte statement represented the tariff commission as a most industrious body which had bad completed investigations of articles under the flexible provisions of the tariff act and has investigations of articles still andar consideration in 22 ins 9 completed and reported to the president it was pointed out that on only 10 of the 40 articles involved hid bid there been flo an increase proclaimed on 12 articles the duty was cut on 20 there was no change on 4 others there was no chang the report having been returned by the president it was also cepl that in addition to its duties under the tile flexible clause the commission ha had d been called on by congress for reports on 10 subjects four of which have bare been completed on its own initiative the undertook ind and completed an investigation of leaf tobacco the cases brought broc glit before the commission are being handled ex the mite house statement declared declare the tables presented hermith he reveal that the commission Is disposing of the cases at a rate of one per week csc r NE more report from the wick V commission has been made public it deals with meth of criminal procedure procedures and an interesting paragraph denounces as shocking to ones sense of justice the laws lans under which the famous mooned billings case was conduct ei ed the commission cites the case arising from the preparedness day bombing in san I 1 ran fancisco cisco as its one in which motions for a new nenn trill trial were nere held inadequate to prevent injustice it makes no direct recommendation hon hencier lio wever cier that the case be reopened in the body of its report signed by ten of the eleven feirt ers the commission concludes that blime should be bild at the door of in competent or politics ridden judges for much of the general complaint co mp taint against this county s criminal procedure alonte al lemann new orleans lawyer who declined to sign the commission a prohibition report likewise refused to sign this s docu merit ment he ile eli charges cl arges that ti t 1 report was made without t 6 uffa cl e r t research to hick up the tile conclusions I 1 V virtual LY the father of the army air serl service ce bri gen benja min D DI foulois will next dee december e in b e r reap the tie reward dof of his Is long and ear nest labors the war W a r department announced his promotion to succeed maj gen james E ferlict as chief of gen foulois the army air corps effective effect he december 20 m hen general a term ex fires pires foulois will then become a cabor beatral he ile was one of the pioneers in the dei development of A aviation la through association with the V right brothers he ile hew flew lie the finst airplane and the first dirigible balloon loo n purchased hated for the army and in 1910 when the appropriation for the air service was mas only 50 he contributed from his own onn pay to make up a deficit he ile organized the first flying unit the army ever eier had As assistant chief of the corps he supervised the gigantic air ma beuvers along the atlantic coast last liny may ALBERT A LBERT D B FALL former secretary of the interior was vias or dered by the department of justlee to be committed ed to the new alex ico penitentiary to serve out the term to which he was uns sentenced on hi his conviction in the tile rik hills bribery case in order that fall all because of incipient tuberculosis elgh serve serie his term in the south west nest his sentence of a ear in jail was changed to a fear and a day bj by justice jennings bailey balley of the district of Coli columbi supreme court M 1931 western aalon |
