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Show News Review of Current Events the World Over Bloody Riots in Paris Drive Out Daladier, and Doumergue Becomes Premier Devaluation of Dollar Brings Flood of Gold. Bv EDWARD W. PICKARD who was captured recently In Chicago Chi-cago and taken to Sioux Falls, S. D., for safe keeping until his trial In a federal court, committed suicide In his cell by hanging, using a loop made of neckties. He had admitted the abduction of Charles Bnettcher of Denver and Haskell Bohn of St. Paul. PRESIDENT ROOSEVELT called congressional leaders Into conference con-ference and with them formulated bills designed to bring the stock markets of the country under federal fed-eral control. The measures were then Introduced In both house and senate. They deal with short selling, sell-ing, marginal trading, specialists, pool operations and manipulation. WITH little debate the senate passed the bill introduced by Senator Hiram Johnson of California Califor-nia which is designed to prevent the fRANCE seemingly narrowly escaped es-caped a civil war. Following two days of bloody rioting In Paris and other cities, Premier Daladier and nre probably would succeed only in preventing prices from slipping. By the President's devaluation stroke a treasury deficit of $1,000,-000,000 $1,000,-000,000 was transformed overnight Into a surplus of $073,710,037. ' y " v 4 . w, : s- P - Gaston Doumerguo his cabinet capitulated capitu-lated and the reins of government were put In the hands of Canton Doumergue, the seventy-one-year-old former president who was in retirement on bis country estate. His reappearance on the political stage was In response to the pleadings of President Presi-dent I.ebrun and i & " ' Sen. Hiram Johnson a floating In America j of private loans to a countries now de- I faulting on past J debts. Before pass- I Ing It, the senators amended the meas- 8 ure so It would not 1 hamper the Presl- dent's new scheme to grant to foreign I nations loans with which to buy American Amer-ican goods. A pro- irlcrt woa writtpn In IT WAS authoritatively stated In Washington that the President believes that excessive Interest rates on ail classes of debts should be reduced re-duced as an Important step toward reduction of the debt structure. His viewpoint applies to foreign debts owed to United States citizens, to private debts and to those of Industry. Indus-try. He was said to be of the opinion opin-ion that reduction of interest would make payment more probab'e, and that fixed charges also could be cut down. Bills before the senate, which have house approval already, would enable corporations and municipalities municipali-ties or other political subdivisions of states to scale down the principal and interest of their debts through an agreement with the majority of their creditors. Legislation . is already in effect which enables the individual to rearrange re-arrange his debt and interest rates through a pact with the majority of those he owes and to give similar help to railroads. There have been complaints that these laws have not been particularly effective and that they need strengthening. The President, In letting It be known that he thought the debtor was paying too much on obligations contracted in better- times, did not say what he believed was a fair'rate nor did he specify particular charges that he regarded as too high. VTRA and the steel Industry came -L into sharp conflict, and the NRA to a certain extent backed down. Executives of all the lead- many other patriots who were convinced con-vinced Unit he alone could restore the country to quiet. It was conditioned condi-tioned on pledges that both chambers cham-bers of parliament would support him unreservedly and that the president would give him an executive execu-tive order dissolving the parliament uiiil calling new elections, to be used if he considered it necessary. So the "Iron man" of France, us he has been dubbed, returned to Paris will; r.wins for a small cabinet made irp of former premiers and party leaders and with power to make himself the virtual dictator of the country. War veterans, Monarchists, Communists Com-munists and other elements joined In the violent demonstrations that forced out the Daladier regime. All joined In opposition to the government, govern-ment, though no one of the groups was In accord with any others in other respects. The mobs were furious fu-rious and fought desperately with the police and the troops that Daladier Dal-adier had brought Into the capital. The rioters, operating mainly in the I'lace de la Concorde and the region about the Palais Bourbon where the chamber of deputies sits, were raked by machine gun tire, sabered by mounted troops and clubbed and shot by the Infantry and police. But they returned to the fray time after time and would not cease the struggle strug-gle until Daladier resigned. The number of dead was estimated at fifty, and more than a thousand persons per-sons were wounded. After the battles bat-tles were over the boulevards in the center of Paris presented a scene of desolation and destruction un-equaled un-equaled there since days of the commune In 1871. Nationalist elements resented especially espe-cially the removal by Daladier of Jean Chiappe as prefect of police, feeling that he was being made a scapegoat In the Bayonue bond scandal. scan-dal. The Communists and Socialists Social-ists accused Chiappe of fomenting the rioting, but the "right" element said ttie "leftists" were determined to got the Corsicnn out of the way because they knew he would block the proletarian coup d'etat they were planning. The Royalists were in the mix-up hopeful, as always, that they might be able to restore the monarchy and put on the throne the due de Guise, head of the Bourbon Bour-bon house of Orleans, who lives in exile In Brussels. Naturally the pretender pre-tender shares in that hope, but he was quoted as deploring the bloodshed. blood-shed. p EVALUATION of the dollar, and the purchase of gold at $35 a fine ounce caused a turmoil in the world's money markets and I ' , v I Gen. Johnson. ing steel companies met and considered the claim of the national na-tional labor board to authority given by the President to conduct elections for employee rep- - resentatives when a "substantial" number num-ber request that nc- Hon. To this the steel men took ex-cention. ex-cention. Thev la- declaring that loans to foreign defaulters de-faulters could still be made by government gov-ernment owned corporations. As it now stands, however, the bill puts in the hands of the administration admin-istration its most powerful weapon for forcing payment of defaulted war debts. No defaulting nation may float any private loan in this country, and any American aiding in the illegal flotation of a private loan to a defaulter would be liable to five years in jail and $10,000 in fines. According to Chairman Jesse Jones of the RFC, the President's plan calls for the creation of a trading trad-ing bank which will partially underwrite un-derwrite extension of credits to foreign for-eign purchasers of American goods. The bank would be entirely owned by the government, so the arrangement arrange-ment would actually be a partial government guarantee of payment to the American producer. The bank would be a division of the RFC. ONLY one representative voted "no" when the house of representatives repre-sentatives passed on the bill to appropriate ap-propriate $050,000,000 for continuation continua-tion of CWA and direct relief activ-ites. activ-ites. The lone opponent was Representative Rep-resentative George B. Terrill of Texas, Democrat. The money Is to be used by the federal emergency relief administration for keeping up the federal dole to the Idle for another year and for continuing the Civil Works administration until un-til the early part of May. About 500 millions is to be used for the former purpose. It was said, and about 450 for the Civil Works administration. ad-ministration. BACKED by the President, a federal fed-eral grand jury Investigation was going on in Washington that promised to uncover a $10,000,000 scandal in the War department. Two lawyers prominently connected connect-ed in the past with the American Legion were said to be involved. It was asserted that automobile manufacturers man-ufacturers had been asked for a fee of $50,000 in return for War department de-partment contracts for trucks running run-ning into millions. The house naval committee made an Inquiry Into airplane and engine contracts that, it was predicted, would lead to changes in the Navy department's system of audits. Wn.LIAM P. M'CRACKEN, who was assistant secretary of commerce for aeronautics in the Hoover administration, and three sued a statement saying the industry indus-try Intends "to resist all attacks" upon company unions and that it holds that the present plan of employee em-ployee representation complies with the NRA. The statement, however, declared the steel Industry "is cooperating co-operating whole-heartedly with the President In his efforts for national recovery and subscribes fully to the principle of collective bargaining as provided in section 7 (a) of the national na-tional recovery act." The NRA had given out a press statement implying that all company unions are dominated by employers. This drew sharp criticism, and the statement was retracted. Administrator Adminis-trator Johnson and NRA Counsel Donald Richberg upheld the right of the labor board as stated above. They asserted, however, that the executive ex-ecutive order which said that representatives repre-sentatives elected by a majority of workers "have been thereby designated desig-nated to represent all the employees," em-ployees," does not abridge the rights of labor minorities to conduct negotiations nego-tiations with employers. C AMUEL INSULL, who was due to he ousted from Greece on February 1, was permitted to remain re-main for a time because of ill health, but the government at Athens Ath-ens then informed him unofficially that he must leave before February 13, two physicians having reported he was able to travel without danger dan-ger to his life. The fugitive immediately immedi-ately began packing up, but at this writing it was not known where he would go in his effort to avoid extradition. ex-tradition. TWENTY-TWO days after he was kidnaped, Edward G. Bremer, banker of St. Paul, Minn., was set free in Rochester. Minn., and made an immediate result re-sult was a great flow of gold bullion bul-lion from Europe to the United States. The pound sterling and the franc made gains, but not big enough to suit President Roosevelt Roose-velt and his monetary mone-tary advisers. Later Lat-er both the pound and franc declined Prof. Warren air line officials got into a jam with the senate committee that Is Investigating Investigat-ing air mail contracts. con-tracts. All four of them were cited to appear before the senate to show cause why they should not be punished pun-ished for contempt. McCracken practices prac-tices law in Washington. Wash-ington. The others " l- " , " i W. P. McCracken his way home, nervous and with wounds on his head inflicted when he was "snatched," but otherwise unharmed. un-harmed. His father, fa-ther, Adolf Bremer, wealthy brewer, had paid the $200,000 demanded de-manded by the kidnapers. kid-napers. In $10 and $5 hills, through an Intermediary. Dur- i) - 1 if: E. G. Bremer again, and the confusion was made greater. The French were alarmed by the drain on their gold and expressed ex-pressed Intense resentment against the American policy, charging that the administration was making deliberate de-liberate efforts to embarrass France. For the time being the administration adminis-tration was prevented from driving the dollar down to its projected parity par-ity points in foreign exchanges by the rising tide of American dollars flowing back to this country. But most of Its financial experts were confident that the 50.00 cents value would be made to prevail after a reasonable time to allow for the shakedown. As for the $35 an ounce for gold, it Is the opinion of Prof. George F. Warren, chief deviser of the experiment that Is under way, that the figure must be raised if prices of commodities are to be put up materially. Frank E. Gannett, the Rochester newspaper publisher, after a visit to the White House and talking with both the President and Professor Warren, said In his Rochester Roch-ester Times-Union that he had been convinced by those conversations "that we shall continue to raise the price of gold" and that the $35 fig- are L. H. Brittin, vice president of Northwest Airways; Harris M. Han-shue, Han-shue, president of Western Air Express, Ex-press, and Gilbert Givvin, Han-shue's Han-shue's secretary. McCracken has been under technical arrest but this was vacated. Chairman Black's report to the senate showed that Brittin admitted admit-ted that he had removed from Mc-Cracken's Mc-Cracken's office and destroyed subpoenaed sub-poenaed correspondence; and also that Givvin, on order from Hanshue. had removed confidential papers since recovered by the committee. Senator Black also told the senate sen-ate that testimony before the committee com-mittee showed post office contracts had been awarded "collusively and fraudulently" and that former Postmaster Post-master General Brown and McCracken Mc-Cracken had participated In a "secret "se-cret meeting" held in a room adjacent adja-cent to Brown's Post Office department depart-ment office at which the country was divided into certain mail routes and contracts were distributed distrib-uted among "particular" operatinf companies. by Western Newspaper Untoiv Ing his captivity Rr?mer was kept in a dark room and under constant guard. State and federal law enforcement enforce-ment agencies were conducting an Intensive hunt for the abductors of Rremer, who probably numbered ten or more. It was believed the victim was held in either Sioux City or Kansas City. Verne Sankey, notorious kidnaper |