Show news review of current CuaTe irit events the world over roosevelt plan on farm loans calls for two billion bond issue 30 hour week proposed for workers the AI akron xon disaster 0 1 7 0 f the reading of a brief F special p e c 1 a 1 1 message n e on the subject from the president senator robinson of arkansas introduced the administrations farm mortgage re financing bill which vil lich f with the farm relief bill Is designed to lift t the ie farmers out of the slough blough of depression 3 the bill provides for issuing by the farm loan banks of bonds to the extent of on which the government senator guarantees the inter robinson est payments the bonds or the money derived from their sale are to be used fay by the farm loan banks for the purpose of taking over the farm mortgages on which the interest rates cannot be more than avs per cent tile expectation Is that with money available to settle with his creditor the farmer can scale down the principal of his debt to a considerable extent henry jr governor of the new farm credit administration tra tion believes mortgage indebted bee ibay be scaled down in two ways A mortgagee willing to settle for cash or bonds at 70 or 80 per cent of the principal could exchange the mort gage age on that basis for land bank bonds the bank then would refinance the farmer fanner at 4 per cent or a farmer making a composition with ills his creditor could borrow the funds for settlement from the laid land bank opposition to the ae legislation I revolves around two arguments one Is that it will be an inducement to farmers to default in the payments on their present mortgages in order to persuade mortgagees to settle at less than face value the other Is that such a vast flotation of 4 per cent bonds would tend to demoralize the bond market find and react unfavorably on banks and insurance companies with large bond portfolios the maturity of the boods bonds Is to be fixed by the land banks and probably will be 30 or 40 years stated briefly the main provisions of the farm finance bill are as follows federal land banks are authorized to issue up to in 4 per cent bonds interest guaranteed by government the same banks could purchase first mortgages on farm land or exchange bonds for them the th treasury la Is authorized to subscribe to the paid in surplus of the banks interest rate on loans on mortgages shall hall not exceed per cent A total of would be available from the treasury to compensate banks tor for interest reduction the limit on mortgage loans would be raised from to 00 voluntary liquidation of joint stock land banks Is provided A total of of reconstruction finance corporations funds Is made available tor for loans to farm farmers era tor for re financing their debts in accordance with provisions of the new bankruptcy relief act reconstruction finance corporation Is authorized to loan to drainage lev levee and irrigation districts to reduce and refinance their debts increases the lending power of the reconstruction finance corporation by number of veterans to be affected TUB by the presidents order reducing ducan veterans benefits will not be known for some time in one way or another it will be felt by practically all of the spanish american and world war veterans and the widows of veterans of these wars now dow on the government pension rolls because it reduces the rates on tile the greater part ot of such pensions as will continue to be paid these reductions and those to be dropped from the pension rolls will be affected after july I 1 of this year ear in brief the order makes the allowing provisions payment of pensions authorized to veterans disabled by disease or injury incurred or aggravated aggravate d in line of duty in active service rates to be paid tor for service connected disabilities are 10 per der cent disabled aa 8 a month if 25 per cent 20 so BO per cent S to 0 76 75 per cent soo 60 per cent 80 these ese are 20 per cent reductions under present aids pensions ghori zed to widows children and impendent pendent parents parent of veterans who died from disi disease asis or injuries incurred or aggravated in line of 0 duty in active service rates continue as at prevent payments authorized authorised tor for non ice connected disabilities and deaths of veterans who served 80 90 days in the spanish american wr war boier Dozer rebellion philippine insurrection and world war provided disability was total and not due to personal misconduct latter allowance will not be made to unmarried persons with income of more than 1000 a year or to any married person or one with minor children hos income exceeds 2500 pensions of widows and children of span spanish I 1 sh american war veterans cut to so per cent excludes peacetime peace time veterans from domiciliary care limits sharply emergency off officers leers pensions mitering BOTH Mi the senate kind and house are considering si a blit bill of which senator lilack black of alabama Is the author that would establish a thirty hour bour work week As the bill la Is presumed to have the alie endorsement of the president and the special approval of secretary ol of elbs perkins pt it Is expected to tc fuss am both boll houses no 1111 would compel private in austry to adopt the thirty bour week and penalize interstate movement of 0 products made by labor working longer hours black expressed confidence the till bill would be upheld by the united states supreme court the alabama senator said the hill bill would not accomplish its purpose it if it resulted tn in reduction of wage levels as well as hours and expressed the bellef belief that if industry attempted to reduce wages congress would act labor has been underpaid and capital overpaid he be said borah said he was in thorough accord with the principle of this bill and im not so sure that were not going to have to come to it ills his argument revolved around whether congress had the alie power to take action THE LIE count rys great loss in the destruction st of the akron Is not the loss of the navys great dirigible but of the 74 officers and men who went down with her in the storm off the coast of new jersey near bear admiral moffett chief of the aeronautic bureau of the navy who was a passenger on board with his bis shipmates upheld to the end the finest traditions of the I 1 J davy y the wreck of the afa akron largest of its admiral kind tn in the world w was as M offett A the worst airship disaster to in history the airship crashed off the new jersey coast twenty miles off barnegat Barne gat lightship during a violent electric storm accompanied by heavy winds and high seas dense fog and thick rain lieutenant commander wiley second in command of the airship and tile the two men who were saved owed their lives to the chance that brought the german oil tanker phoebus close to the scene of the accident a few minutes after it happened they were picked up immediately by the phoebus whose crew saw others disappear bk beneath the waves before rescuers could reach them the phoebus cruised about the scene until dawn but was unable to find any more survivors or to keep track of the wreckage which was carried swiftly away by the seas first report of the disaster was received in radio messages from the phoebus both coast guard and naval vessels were immediately dispatched to the scene of the wreck and cruised around for hours in the hope of finding other survivors the navy blimp J 3 taking part in the search fell into the sea five of its crew were rescued the search was fruitless and in the case of the accident to the blimp J 3 was III fated also to end naval airship E determination construction Is mounting through a congress intent upon finding in the real causes of the aarons 1 plunge into the atlantic div in the senate king dem utah prepared a resolution calling for an investigation ti of the akron disaster and the consideration of the advisability vis ability of spending f af pf A more than the 20 that the navy already has invested ci c fred i britten in i lighter ahter than air craft chairman trammel of the senate naval committee also was considering a study of the accident chairman vinson of the house naval committee has declared emphatically there wont be any more airships built there were some however not so ready to yield beliefs founded during many years in congress many had followed representative britten of illinois who as republican chairman of the naval committee for years had charge of most of the recent legislation for airships particularly that authorizing thor izing the akron albron macon sister ship hip team mr britten has always declined to support those who thought lighter than air craft should be abandoned many members were undecided how bow far they wanted to go in their ban on air airships kilps vinson said he fie thought nothing should be done to prevent operation of the macon which Is to take the air toward the end of the month nor did he think that hint the new dirigible base at Sunn calif where had been expended should be shut down Is the first state to vote M MICHIGAN in favor of the repeal of the eighteenth amendment wisconsin to il second with a decisive vote of 4 to I 1 for reveal repeal town aud country alike turned out thumping wet majorities milwaukee where the breweries are humming to turn out 32 beer went wet by more than 10 to 1 ins constitutional amendment convention will be held in madison april 25 it Is predicted that practically all the delegates will be committed to repeal in michigan chilan but one county elected a dry delegate P MORGAN CO new york JP bankers are in for an investigation by a committee of 0 the united 8 states t ates senate and a committee backed by all the authority which that august b body 0 dy can give without deba debate tei the upper chamber adopted the fletcher resolution extending wide power to the banking committee to make the inquiry into private banking which president roosevelt has sponsored the resolution was dratted drafted by ferdinand pecora committee counsel with a view to obtaining all the senates constitutional power over interstate commerce banking and tax matters for the committee pecora told the committee he had submitted twenty three questions to the morgan firm and that on advice of john W davis dails its counsel the banking house had refused to answer one and taken several others under consideration ESPITE the hitler governments DESPITE dropping of the boycott against german jewry the national socialist party will keep its boycott machine intact disappointed at being deprived of the boycott nazi auxiliary police raided a jewish quarter in berlin accompanied by regular pollee police they searched everywhere for weapons and papers streets were closed and pedestrians were stopped even wor shippers leaving synagogues were halted persons not carrying double identification cards were arrested the nazi boycott committee headquarters at munich announced that all german stores in the near future will be supplied with big placards identifying them as such in this way the nazis will distinguish between german and jewish stores A measure forbidding kosher slaughtering throughout the nation has been approved by the welchs cabinet A ANEW NEW suggestion for a preliminary conference of experts to be held in the united states to prepare for the world economic conference developed at a meeting in paris between norman el davis president Roosevel ts am cassador at large and joseph paul bonjour french foreign minister in this the french see their opportunity 01 0 1 of talking over war debts like the british the french want to wangle norman a debt settlement davis before the economic conference convenes so fervid Is this desire that davis expressed his displeasure that europe with its ita very existence at stake should think of nothing else mr bit davis feels that the washington administration has made it clear that there are bigger jobs to be done removal of trade barriers for example so with hopes of calling the economic conference at an early date abandoned the idea of a preliminary meeting to agree on what is to be done and how to go about it Is making headway when the new french frenc h ambassador to the united states andre lefevre de la Is boulaye boulade Bou laye sailed for america he was accompanied by a treasury expert to prepare the ground for what paris paria hopes will be a general debts discussion responsible officials of the state department part ment in washington declared that reports from london that mr davis had presented an offer to scale down britaina Brit ains debt to the united states by SG were absolutely without foundation premier ramsay macdonald plans plana to sail for the united states about april 15 for a conference with president roosevelt regarding war debts world orld economics and armament EVEREST at last has been MOUNT conquered two airplanes have flown across the summit and for the first time in history men looked down upon the highest mountain in the world the feat was accomplished by the british expedition headed by the marquis of clydesdale A photographer to succeeded in taking a number of pictures which it Is hoped will provide an authentic record of the conquest of the foot mountain on the sides of which numerous men have perished attempting by old fashioned methods to gain the honor of being the first to reach the top although exhaustive preparations had been made for the flight over mount blount everest tile actual carrying out of the feat was in a measure accidental when the two ships went up the purpose of the flyers dyers was only to make a test put but they found conditions so BO ideal that they turned the test into the real business the two planes flew at an altitude of cf approximately 66 miles and the flight over the peak required three and a halt half hours Is growing in great britain KID FASCISM every manifestation of th the e fascist movement in italy and get germany can be seen in and around the house where sir oswald mosley millionaire lion lio alre would be dictator has based the british union of fascists the waiting room Is a small gymnasium physical training Is compulsory the mosley black shirts who ullo are the beginnings of the british storm troops tire are required to box fence or wrestle twice weekly the black shirts form the nucleus of moslems Mo army they have an auxiliary to in the gray shirts who can not give as much time to physical training as the black shirts but who have bare a big place in the strong arm branch of the organization 0 mil western union |