| Show news aws review of current events the world over Gerni anys financial plight worries all other oilier nations hearin hearings s on railway freight ra rate t c increase be beun begun un by EDWARD W PICKARD HILE a all the WHILE world I 1 looked ook ed on with anxious interest Ci fl ermany was plunged I 1 into n t 0 a financial crisis that threatened the country with utter economic collapse and made possible even the subversion of tile the government overn ment delay in acceptance of 0 the hoover moratorium by george W france had bad resulted mcgarrah in the withdrawal of vast sums from the german banks the conversion of these funds into foreign currency and its removal from the country the big und national bank closed its doors prIm primarily arlly be because cause of heavy losses tabled talked through the failure of ger hanys largest wool combing concern dr hans luther president of ti the 10 rushed from berlin to london and thence to paris seeking aid the french refused to participate in a loan to the bank unless germany would agree to conditions which berlin regarded RS as impossible of acceptance these included suspension of the pocket battleship building program abandonment of the austro german customs union further credit restrictions in germany and relinquishment of any hope of regaining danzig and the danzig corridor president von alln denburg and his ministers said they would resign rather than submit to these demands luther then flew to basel and laid the case before the bank fur for international settlements and representatives of american british and french tanks banks gates W mcgarrah american president of the B 1 I S announced that the directors of that institution biad aad agreed to renew its participation 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 lind had to fill M MEANWHILE german government the ordered all banks closed for two days shut up the stock exchanges tor for it week and decreed it a two day moratorium it thus checked tile exodus of capital anil and the transfer of marks maiks into foreign currencies or securities for the hans ans luther time being Ther 1 here ewas was some rioting rooting but in general the german people exhibited the calmness of dc despair the authorities cannot belleve 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 tile crisis was largely metaphysical and one due to lack of public confidence at the suggestion of the french government an important conference was held in paris saturday and sunday the chief participants from other nations being chancellor Bruening and foreign minister nister curtius of germany foreign secretary tary henderson enderson II of I england ng and secretary tary St linson of the united states this was a pr preliminary effin to a conference in london called for july 2 20 by the british govern mont to represent the united states at the latter president hoover designated secretaries stimson and I 1 mellon SI ellon it was understood they would not concern themselves with matters of european politics and mr air stimson already had explained that this government could not participate in ili a loin loan to germany that matter resting entirely with the federal reserve an and private banks president hoover kept in close touch with the german situation but jt it was the oll Iclal view in washington that germany must help herself by strong measures mea and that in the matter of outside assistance europe must take the load lead sir air hoover to took 0 k tile the position that in bringing nbc about ut the moratorium lie he had done all that jie be legitimately and properly propel ly could do france refuses refuges to be ba abashed by the jit attacks tacks on her apparent harshness toward germany she hot holdi that her demands are fully justified rind and that they tend to promote the cause of world disarmament and to assure security for europe in general and france in particular C CHARLES 0 EDWARDS democrat representative in congress of the first georgia ceoria district died suddenly of cerebral in atlanta ile he was fifty three years old and ills his home was in savannah mr air edwards death restores to two the republican majority in the house lie ile was vas the seventh member of that body to die since the election the republicans leans now ow have members to for the democrats and one parmer laborite there are only six vacancies for or that caused caused by bj the death of aswell of lou illana has been filled by the lie election of another democrat john overton investigation was mis ordered by see detary of commerce into charges cli arges made by dr ray nay 0 hall that lie had been dismissed from the department part ment for protesting against falsification flea fi tion of the recently issued report on oil tile the balance of international pa payments Y unil who prepared most of of the report alleged figures were ju juggled and deletions made to suit poIl political tl expediency 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 half of the fiscal year 1030 1930 had been omitted to in the publication the point he had find endeavored to bring out and which he said was omitted was that in ili anticipation of higher tariff rates later inter foreign shippers had sent seat greater quantities of goods to this country during the first part of the fiscal year jear than otherwise would lime have been tile case n AILWAY officials lv shippers and other interested persons gathered in washington for the hearings before the interstate commerce commission C on the application of the railroads for an V increase of 15 per cent in rates on all freight frei glit traffic it Is ezra brainerd one of the biggest blast jr questions that chairman ezra brainerd jr and ills his fellow commissioners have had to handle tor for some time there was no disposition to question the fact that the railroads aro 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 awl and 41 of the roads operated tit at a loss of which 14 were in the eastern C in tile the southern and 21 in the western district conforming to tile wish of fresl i dent hoover that existing wage scales be maintained the hie roads are seeking an In increase rense of revenue in increased rates but their executives have made it plain that it if this Is not granted wages will have to copie come down blany shippers have let the commission know that they favor the latter alternative asserting that they cannat bear higher transport transportation atlon charges th arges president hoover has taken no part in the controversy but secretary of Agil culture llyde hyde has publicly asked the commas commission ion to take into consideration the fact that while tile the revenue of tile railroads dropped dropp cil 10 16 per cent last year the revenue of tile the farmers dropped 20 per cent that farri farm prices are down to prewar levels while freight rates are relatively high hilgh that with many products taxes manufacturing costs and railroad rates can be passed on to the colsum ere hut but that the farmer cannot pass his costs on two security holders committees appeared before the commission to set forth the dinser danger tint that many millions of dollars of rail securities m may ay become ineligible for life insurance savings hank bank and other investment unless the freight frei glit rate increase Is granted one of the committee represented life insurance and savings bank interests and tile the other trust and fire insurance companies and institutions in nn an effort to determine whether certain practices of the railroads ralli oada are cons consistent with economical and efficient c management the interstate commerce commission announced that it would conduct on an investigation on its own motion into practices practice ot 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 tit at tidewater ports lake coal private freight cars the spotting of cars at industries and the construction and maintenance of sidings tor for shippers APTS grorge ENDRES and C alexander magyar of the nun hun garlan army made a remarkable nonstop flight front from harbor grace N P to lo within 14 miles of budapest thit that city was their goal but their fuel ran out just before it was readied reached josiph joseph lebrix and marcel doret two famous french aviators set out on a nonstop non stop night flight biorn paris pails to tokyo hoping to make tile the miles in 62 hours they were making good progress when they were forced down in siberia miles from ir hursk the plane was ruined and lebrix was nas slightly injured OVIET russia has taken another S SOVIET stop step in its return toward old time ways it has been decreed by the peoples for agriculture that payment to workers on Rus sias collective farms shall hall henceforth be made only on the basis of quality and quantity of 0 work performed the mea measure ri Is designed to increase the material interestedness of the farmers and thus enlarge production heretofore collective farmers have hae been partly la in money from farm earnings and partly in produce according to the size and needs of tit their air families many taking their r share hare of produce at the outset of the harvest hanest these factors combined with ft ath inadequate organization end and management of farms were nere cited in the decree as responsible for a break in labor discipline and conse consequent que tit lo 10 losses ases from the harvest hanest T THREE H independent investigators after a tour of the pennsy pennsylvania ivan ia ohio coal fields ft where here the miners are on strike declared that th the e people of pittsburgh bare are entirely the five of the gravity of the situation inthey if they do 10 not awaken soon they will shortly find themselves faced with a hll chil strife unparalleled in the coal industry the investigators were ft ere dr colston B S warne of amherst Amli erst college dr william L nunn of new york university and associate editor of the publication the nation CHILE hils has a new cabinet headed by pedro DIan quler who ft ho besides being pre premier riller Is minister of finance blanquies Blan quler wits formerly finance andi and public works minister as well its as director of the state rall railways ways lie he Is regarded as nn an eff efficient lelent technical man and it Is bel bellei eved ed in santiago that becan he din find the remedy for the ous state of chilean Cli ilean finances i ibrom ROM tile the white house came an official reply to th the e attacks on the tariff commission that have been made by senator joseph T robinson of arkansas find and other democratic leaders tile the statement represented the tariff commission as a most industrious 0 us body which hild had completed investigations of different articles under the flexible provisions of the tariff at att t 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 tile the 40 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 was vas also explained that in addition to its duties under under the flexible clause the commission had been ca called lied on by congress for reports on IQ 10 subjects four of which have been completed on its own initiative the commission undertook and completed an investigation of leaf tobacco he cases brought brou glit before the corn com lon li are being handled expeditiously the white house statement de cl areil arcil the tallies tables presented herewith reveal that the commission Is 13 di disposing posing of the cases at a rate of one per week 1 i k NE more report from the wicker 0 ONH eliam commission hns has been made pu public bile it deals with methods of criminal procedure and an interesting paragraph denounces as shocking to ones sense of justice the laws under which the famous mooney billings case was conducted the commission cites the case arising from the 1910 1916 pr preparedness epa redness hy day bombing in san francisco as one in which motions for a new aei trial were held inadequate to prevent injustice it makes no direct recommendation however that the case be reopened in the body of its report signed feigned by ten of the eleven eleen members the commission comin in concludes that blame should be laid at the door of incompetent or politics ridden judges for much of tile the gonegal complaint against this colln count rys criminal procedure alonte BI al lemann new orleans lawyer who declined to sign the commissions in I 1 ss ions prohibition report likewise refused to sign this document lie charges flint the report was made without sufficient research to back up W the conclusions reached tit the e v father of the fi 4 army air servile service brig gen benjamin D foulois Fou lols will next neit december reap the reward of its long and earnest labors the war avar department S announced ills his promo tion to succeed al maj ai gen james I 1 IJ r eclief as chief of the army gen air corps effective effect he december 1 20 0 when general P echels term teim expires foulois will then become a major general ile he was vas one of the pioneers in the development of aviation through association with the wright brothers ile he hew flew tile the first airplane and the first dirigible balloon purchased for the army and in 1910 when ft hen the appropriation for the air service was ns only tl E io 50 lie he contributed from Us own pay any to make up a deficit cIt lie he or orb tile the first firse lying flying unit the army ever eer ind had As assistant chief of the corps lie he supervised the alie gigantic air maneuvers along the atlantic const last tiny hay ALBURT abary k LBERT n B FALL former secretary of the interior intel Inter lor was ordered by the tha department of justice to be committed to the new mexico penitentiary tent iary to serve out the term to which lie he was vias sentenced on ills his conviction in the elk hills bribery case in order that rail pall because of incipient tuberculosis ml might ht serve his term in the southwest ills his sentence of a year in jail was changed to a year and id ft a day by justice jennings bailey of the district of columbia supreme court ul 1511 1131 western Now union |
