Show news review of current events the world over germanas germanys Germ Gerni anys financial plight worries all other nations Hearin hearings 0 on railway freight rate increase begun by EDWARD W PICKARD W HILE BILE all the world looked on with anxious interest germany wasil was plunged lunged into a financial crisis that threatened the ia country with utter economic collapse and made possible even the subversion of the 4 government delay in acceptance ot of the hoover moratorium by george W france had bad resulted mcgarrah in the withdrawal of tast sums from the german banks the conversion of these funds into foreign currency and its removal from the country the big rind national bank closed its doors primarily because of heavy losses sustained through the failure of ger largest wool combing concerti concern dr hans luther president of the rushed from berlin to london and thence to paris seeking aid ld the french government refused to participate in a loan to the welchs bank unless germany would agree to conditions which berlin regarded as impossible of acceptance these included suspension of the pocket battleship building program abandonment of the austro aistro german customs teulon further credit restrictions in germany ermany and relinquishment of any hope of regaining danzig and the danzig corridor president von aln denburg and his bis ministers said they would resign rather than submit to these demands luther then flew to basel and laid the case befve the bank for international settlements and representatives of american british and french banks gates IV mcgarrah american president of the B L 1 S announced that the directors of that institution had bad agreed to renew its participation lo in the rediscount credit of accorded to the june 25 and due on july 15 this credit was advanced jointly by the federal reserve bank of the united states the bank of france the bank of england and the world bank the sum was welcome to luther but it was only a drop in the bucket which he had bad to fill EA the M german government ordered all banks closed tor for two days shut up op the stock exchanges for a week and decreed a two day moratorium VA I 1 it thus checked the exodus of capital and the transfer of marks into foreign currencies or securities for the hans uther luther time being there was some rioting but in general the german people exhibited the calmness of despair the authorities cannot believe that america and the other nations of europe would permit the insolvency of germany and the decree issued by president von hindenburg stressed the fact that the crisis was largely metaphysical and due to lack of ct public confidence at the suggestion of the french government fm en important conference was held in paris saturday and sun flay the chief participants from other nations being chancellor Bruen Bruening inland and foreign minister curtius of germany foreign secretary henderson ne of england and secretary of the united states this was a preliminary to a conference in london called for or july 20 by the british goern goi emment eminent to represent the united states tt it the latter president hoover besig rated secretaries stimson and mellon SI ellon it was understood they would not dot concern themselves with matters of 0 Fur european politics and mr stimson already had explained that this government could not participate in a loan to germany that matter resting entirely with the federal reserve and private banks president hoover kept in close touch with the german situation but it was wag the official view in washington to that germany must help herself by t strong measures and that in the matter alter of outside asb assistance istance europe must mst take the lead mr hoover took the position that in bringing about the moratorium be had done all that h legitimately and properly could do france refuses to be abashed by the attacks on her apparent harshness toward germany she holds that tier her demands are fully justified and that they tend to promote the cause of world orld disarmament and to assure se curtly rity for europe in general and france to in particular CHARLES G EDWARDS democrat ir e in congress of the fini p t georgia district died suddenly of cerebral al in atlanta lie W fiftY y three years old lind and his home ail to 10 savannah hannah sir mr edwards death lean restores to two the republican bority 1 n the house lie he was the seventh member ember of that body to die HI net the election atlon ct lon the no bi have i members to tor for the democrate rind and one farmer laborstie 0 there th tr are T six bl vacancies for that en idled ed by the death of aswell of lou walla has baa been filled by the election ot of another democrat john overton 1 T was ordered by secretary of commerce lamont into charges made by dr ray 0 hall that he had been dismissed from the department part ment for protesting against falsification fi of the recently issued report on the balance of international payments hall who prepared most of of the reports report alleged figures were juggled and deletions made to suit political expediency ile he said particularly that a comment to the effect that impending tariff legislation possibly was in part responsible for merchandise imports holding up relatively well during the first halt half of the fiscal year 1930 had been omitted in the publication the point he had bad endeavored to bring out and which he be said was omitted was that in anticipation of higher tariff rates later foreign shippers had sent greater quantities of goods to this country during the first part of the fiscal year than other otherwise Alse would have been the case AILWAY officials als lv shippers and other interested persons gathered in washington for the hearings before the interstate loter stati commerce commission on the application of the railroads for an increase of 13 15 per cent to in rates on all freight traffic it Is ezra brainerd one of the biggest jr questions that chairman ezra brainerd jr and his fellow commissioners have had to handle for some time there was no disposition 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 had a net railway operating income of or per cent on their property investment anil and 44 of the roads operated at a loss of which 14 were in the eastern 6 in the southern and 24 in the western district conforming to the wish of president hoover that existing wage scales be maintained the roads are seeking an increase of revenue in increased rates but their executives have made it plain that if this Is not granted wages will have to come down many shippers have let the commission know that they favor the latter alternative asserting that they cannot bear higher transportation t barges president hoover has taken no part in the controversy but secretary of agriculture hyde has publicly asked the commission to take into consideration the fact that while the revenue of the railroads dropped 16 per cent last year the revenue of the farmers dropped 20 per cent that farm prices are down to prewar pre war levels while freight rates are relatively high that with many products taxes manufacturing costs and ral railroad broad rates can be passed on to the colsum ere but that the farmer cannot pass bis big costs on two security holders committees appeared before the commission to set forth the danger that many millions of dollars of rail securities may become ineligible for life insurance savings bank and other investment unless the freight rate increase Is granted one of the committee represented life insurance and savings bank interests and the other trust and fire insurance companies and institutions in an effort to determine whether certain practices of the railroads are consistent with economical and efficient management the interstate commerce commission announced that it would conduct an investigation on its own motion into practices of carriers which affect their operating revenues and expenses among the practices the commission Is investigating are prices paid for railroad fuel and the handling of coal at tidewater ports lake coal private freight cars the spotting of cars at industries and the construction and maintenance of sidings for shippers APTS GEORGE ceorge ENDRES and balts C alexander magyar of the hungarian 9 arlan army made a remarkable nonstop flight from barbor grace N F t to 0 within 14 miles of budapest that city was their goal but their fuel ran out just before it was reached joseph lebrix and marcel doret two famous french aviators set out on oil a nonstop non stop flight from carls to tokyo hoping to make the miles in ca hours they were full making klog good progress when they were forced down in siberia miles from ir lutsk kudsk the plane vaas a as ruined and lebrix was slightly injured OVIET russia has taken another SOVIET S step in its return toward old time ways it has been decreed by the peoples for agriculture t that hat payment to workers on Rus sias collective farms shall henceforth tx be made only on the basis of quality and quantity of work performed the measure I 1 Is s designed to increase the material interestedness interested ness of the farmers and thus enlarge production heretofore collective farmers have been paid partly in money from farm earnings and partly in produce according cord 1 ng to the size and needs of their cami families lies many taking their share of produce at the outset of the harvest harrest these factors combined with alth inadequate organization and management of farms were cited in ID the decree as responsible for a break in labor discipline and consequent losses from the harvest tatter independent investigators after a tour of the pennsylvania ohio coal fields where here the miners are on strike declared that the people ot of pittsburgh are entirely unappreciative of the gravity of the situation if they do not awaken soon they will shortly rind find themselves faced with a chil strife unparalleled in the coal industry the investigators were dr colston E warne of amherst college dr william 4 L nunn kunn of new mew york university Mity and mauritz Hell grin associate editor of the publication the nation C CHILE BILE has a new cabinet headed by pedro blanquies BIan Blan who besides being premier Is minister of finance blanquies BIan Blan was formerly finance and public works minister as well as director of the state railways tie he Is regarded as so an efficient technical man and it Is believed in santiago that he ran can find the remedy for the precarious state of chilean finances FROM ROM the white louse house came an official reply to the attacks on the tariff commission that have been made by senator joseph T robinson of arkansas and other democratic leaders the statement represented the tariff commission as a most industrious body which had completed investigations of different articles under the flexible provisions of the tariff act and has investigations of articles still under consideration in 22 investigations completed and reported to the president it was pointed out that on only 10 of the 40 46 articles involved had there been an increase proclaimed on 12 articles the duty was cut on 20 there was no change on 4 others there were no change it I 1 was vas also explained that in addition to its duties under the flexible clause the commission had been called on by congress for reports on 10 subjects four of which have been completed on its own initiative the commission undertook and completed an in investigation v e at gation of leaf tobacco bacco tu he cases brought before the com are being handled expeditiously the white house statement declared L the tables presented herewith reveal that the commission Is disposing of the cases at a rate of one per week neek nn N n more report from the wickersham 0 ONE commission has been made public it deals with methods of criminal procedure and an interesting paragraph denounces as shocking to ones sense of justice the laws which the famous mooney billings case was Zon conducted ducted the commission cites the case arising from the 1916 1016 preparedness day bombing la in san francisco as one in which motions for a new trial were held inadequate to prevent injustice it makes no direct recommendation ho boi eyer that the case be reopened in the body of its report signed by ten of the eleven members the commission concludes that blame should be laid at the door of incompetent or politics ridden judges for much of the general complaint against again st this count rys criminal procedure monte U M lemann new orleans lawyer who declined to sign the commissions prohibition report likewise refused to sign this document ke ile charges that the report was made without sufficient research to back up the conclusions reached t the 1 I e 4 V VIRTUALLY father of the army air service fl V brig gen denjamin benjamin 1114 D foulois Fou lols will next december reap the WA reward of his big long IL and earnest labors the war department announced his bis promotion to succeed maj gen james E fechet chief of the as army gen g foulois p air corps effective december 2 20 when general fechet Fech ct term expires foulois will then become a major general he was one of the pioneers in the development of aviation through association iab with the wright brothers ile he lew flew the first airplane and the first dirigible balloon purchased tor for the army and in 1910 when the appropriation for the air service was only he contributed from his own pay to make up a deficit ue he organized ilia first flying unit the army ever had bad As assistant chief of the corps be supervised the ga gigantic 9 antle air maneuvers along the atlantic coast last slay may LBERT B FALL former secretary abary ALBERT of the interior was ordered by the department of justice to be committed to the new mexico penitentiary tent iary lary to serve out the term to which cli he was sentenced on his conviction in the elk hills bribery case in order that eliat fall because of incipient tuberculosis might serve his term in the southwest his sentence of a year in jail was as changed to a year and a day by justice Jer jennings inlings dalley bailey of the district of columbia supreme court el cl 1111 1931 nimr ND Daver Mr union |