Hope Star from Hope, Arkansas on September 15, 1934 · Page 1
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Hope Star from Hope, Arkansas · Page 1

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Saturday, September 15, 1934
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I V, r" ;<*'".<; This newspaper d under dU A-2 & A-5 Grnphlc Arts Cod*. Hope ,. V -<*G"< • y..s ,..'•'' • • . Ote Star WEATHEl Arkansas—Fair and cooler'/ Saturday nlgM; Sunday fair, rising temperatures In north* j west portion. VOLUME 35—NUMBER 287 (AIM—Mi-turn AMiirlnlrd I (NIOA)—MI-IIIIS N<Mt>i|iii|ior HOPE, ARKANSAS, SATURDAY, SEPTEMBER 15, 1934 Vnr of llopo rounded 180B| Hope Dally Prc«», 18271 X>"Hof}nnteil fin Hope Star, Jununry IS. PRICE i>e CQP?^ AUSTRIA MAY RESTORE KING Here and There -Editorial By ALEX. H. WASHBURN- A TRAVELER comes home to Arkansas in September, J9M. with renewed confidence that this is the best of all places to be at this particular stage of our country's history. Tax Delinquency Three Times as Great as in '28 ercentage Rose From 5 in 1928 to 16.1 in 1933, Survey Shows 21 PER CENT LAND 80,969 of 386,932'Hemp- ' stead Acres Found to Be Delinquent Delinquent state and local taxes in HcmrJrtcad county, at the lime Ihc tax books were closed in June, 1933, to- tfllled $35,9'17, which was 16.1 per cent Of all laxcs due as compared with the delinquency of 5 per cent in 1928. Ijt 1933 there were in the county 386,832 acres of land subject to Uix- ation, of which 80,969 acres were dei lltiqucnl or 21 per cent of nil land. llJinddition "<b$yi acres had already been forfeited lo the state and re- mairtcd unredeemed as of January 1, 1934.; In the state as n whole, about 32 millions of acres of land are commonly subject to taxation. In 1933 about 48 million acres were delinquent and en additional 5.4 million acres liar already been sold to thcs late for taxes. The rate of delinquency on rural lands in 1933 for tahe state, as measured in acres, WHS 18 per cent, as compared wilh 21 per cent for Hcmp- stcad county. This information on tnx ' delinquency is the result of a study -„ made by the Department of Rural Eponomii-s and Sociology of the Uni- of Culture and •" I returned Friday from a 3,000-milc trip through ten stales. The states of Ihe northern Mississippi valley took a beating from the drouth this past summer. Tlic stale;; along the Allantic seaboard escaped. . You notice, while descending onto the Atlantic seaboard, cast of Knoxville, Tcnn., that in Virginia the livestock formers have had plenty of ruin for feed and forage crops. Reluming by way of Wheeling, W. Va., you descend inlo the Mississippi basin again and find corn is parched in Ohio, Indiana and Illinois. I was in Quincy. 111., last Wednesday. Adams county, Illinois, has had the first corn failure in its history. You learn aboul Arkansas' superior position this way: A retired Quincy farmer who has land investments in Illinois, Oklahoma and Arkansas,, lold me that this year his Arkansas properties would do belter than all the rest. He has been interested in Arkansas for 20 years, and that's the firsl lime he has said that. So we arc relatively well off. XXX Union labor gets a prominent display Bandits Hold Up Fayetteville Bank Imprisoning Staff Escape With Unnamed Loot After Capturing Cashier and Seven FIRST CITY HOLDUDP University City Scene of Robbery of State's Oldest Bank FAYETTEVILLE, Ark. —(/I')— Entering the building sometime during the night, three masked band its seized E. P. Pycalt. cashier of the Mcllroy Bank & Trust Co., nnd seven employ- es us they arrived al the bank nt opening time Saturday and held them captive while the institution was looted. The holdup of the bank, the oldest financial institution in Arkansas, was the first ever slagcd here. Officials said the robbers took everything in sight, nnd no estimate of the loss could be made pending a check. Tlic robbers escaped in an automobile, wilh a posse in pursuit Cashier Pyeall later estimated tlic Afiri- released by Frank R. tanley, county agent of Hempsteatl 'county. The percentage redemption for taxes becoming delinquent in 1933, despite Act 2, was less than in former years, the research workers point out. In :thc entire state in 1933 only 3G per cent of all delinquent land was redeemed or sold, as compared with 70 per cent in 1928. In Hcmpstcad the rate of redemption was -10 per cent in 1933 as compared wilh !I5 per cent in 1928. Sea Law Broken Aboard Lost Ship Use of Forbidden Inflammable Polish Aboard Morro Castle Revealed niru.irriN Ik NKAV YOIIK. — (/I'j — Federal .Iiidgn Alfred C. ('oxe Saturday drilled Ihc request of U. S. At- tm'w.-.v Martin C'onlxi.v to compel ultoi'mys for Ihc Ward I,ine l<» produce, slalcnu-nts tlicy had nli- laini-d from tli« officers and crew <if (In: hurncil iVlorro Caslli 1 . NKW YORK.--(/l')—Surreplious use of highly inflammable metal polish, banned by maritime law, aboard the CIUIM? ship Morro Castle was described Friday at Ihc Department of Commerce investigation into the .ship's fatal fire. Testimony on the illegal, combustible liquid came from Willinm O'Sullivnn, Morro Castle store keeper. "Was there liquid cleanim; polish used on that .ship?" ho was risked. "There was." "Was il highly inflammable'.'" "Very." "Was it known to those in authority?" "It was used around the bridge." The inquiry heard also a Nc-w York city fireman, n passenger on the fire- wracked vessel, declare he was positive of Miielling smoke as early a.s 12:'l") a. m.. although officers' reports had fixed the start of the bla/.e two hours later. Other witnesses said fire drills on the vessel had been conducted hap- hayardly with the passengers not participating and that even crew members failed to respond to calls. A move by Ward Line lawyers to Vacate subjuenas. ordering \Uetu to produce statements and affidavits of surviving pa:.senders for the federal grand jury investigation, was undecided. A federal court judge indicated Irs decision would be rendered Saturday. District Attorney Conho.v opposed the mct'on to vacate his .subpoenas, contending that a criminal invesliyi- tion wa.s entitled lo receive all pcr- rHtlltnl infoi niaiion, except that con- £ti!utionally privileged. Two of the four bodies wa.-hed up New Jersey lieuches during the day v.cre identified as those o!' iVlorro Castle victims and it w.is believed the (Continued on Paae Three^ in Eastern newspapers. There is a slrikc in Ihe textile industry—but thai isn't a fair example. The lexlile industry is but slightly organized. Tlic fully organized industries arc for the most part peacefully at work. The textile general strike will probable fail. Wilkcs-Barre, Pa., second largest silk center in America, has mcst of its mills running. Wilh an even smaller percentage of organized labor in Ihc cotton textile mills it is unlikely that the general strike will be prolonged to the point of of seriously damaging staple prices for the Southern cotton farmers this fall. There is a social tragedy in the textile industry, whose men and women workers are herded into cotton mill colonies and worked nt low wages- hut, it. is n tragedy that can be remedied only by years of patient organization. No general striltc ever raised an unorganized mass of workers lo prosperity ovcrniglil. XXX Hope received national rccosnilion in the September issue of Ihe Rotarian. one of whose leading articles is written by E. F. McFaddin, past Arkansas dislricl governor, and present chairman of the Extension Committee of Rotary International. Rotary's code of ethics is boiled down in its famous Six Objects. A movement is under way lo changtf the Six Objects—and Mr. McFaddin strenuously objects. He writes: Tli is is Ihc worst pcssiblo time to change the Six Objects. Jusl when we have finally circled the. globe with our organization, and have won wide endorsement of Ihe Six Objects, why change them, and have lo go back through Ihc whole process again loot at ?5,G71. Yellow River Ends Rampage in China as Flood Sweeps Valley KAIFENG, China -(/P)— The Ycl low river seemed lo be returning to its banks Saturday after a flood that brought death lo Ihe river valley. The walcr was apparcnlly subsid ing as rapidly as it rose. There was wide-spread destruction but the proportions of the damage and the number of dead could not be estimated because of the lock of agencies to investigate. 72 Millions for Cotton in October A sound policy, concisely expressed, for many things besides Rotary these troubled times. Brinker Defense Charges "Abuse" State Attempts to Refute Story Police Were Cruel to Prisoner TEXARKANA. — Efforts of Clyde- Sweeten, defense attorney for Edwin Brinker to force admissions from Albert Chicote, former Tcxarkana police officer, thai Brinker on trial for his life for the murder of, P. A. McSwain had been "shamefully, abused and mistreated" on (he night of November 18 and morning of November 19, 1933 when as Sweeten characterized it "that vo called confession" was obtained, failed but. prnvt-d to be the feature of the Friday afternoon session of the trial. Chilcotc, who is now representing a bread company hero, was a member of the police department nt that time nnd assisted in the investigation that led to the murder charges being filed ••igainsl young Brinker, Under questioning of District Attorney Elinor L. Lincoln, Chilcolc testified that "I didn't, see any violence toward Ihc defendant while I was present nl night Brinker was questioned. I wa.s in and out during the clay and during the night al intervals but at no time saw anything like violence toward Mr. Brinker." The defense- objected to Lincoln asking anything aboul a statement which Chilcolc stated the defendant Russia Given Bid to Join the League Nations Telegraph Invitation to Moscow Saturday GENVEA, Swil/.erland.- (/I'.)-•• The League of Nations Saturday telegraphed Moscow its invitation to Russia to become a member of Ihc international body. The first selllers in the strange colony on tin-- island of Saba, Dutch East Indies, were marooned there by the pirate, Henry Morgan, in 1GG5. FLAPPER FANNY SAYS : REG. U. S. PAT. OFF. Buys \vill be Ix.'.vs—• only they find u sweetheart. until in! had been permitted to make and that was dictated to Mrs. Mary Boles,' stenographer in Hi- enmity offici-s the afternoon of I>rinl<er\s arrival in Te.xar- It.'ina for questioning. Th" objection was on tli'- KIT"ind. l-hal. Hrinki-r was arresled al Ilio lime and any sla!i'- inonl was illegal and not ndmisvihle for any purpo.se. The obecl.ion was .sutiUdncd. Germany Resumes Munition-Making Du Fonts Continue Testimony Before Senate Committee WASHINGTON.—(/I')— Senate munitions prohcrs. after placing a censorship l)an (.n SOUK- evidence, heard open court testimony Friday that Germany apparently is piling up large stores of v.'ar materials in violation of the Versailles teraty. There wa:-; !.ls" testimony that the du Pont corporation has employed a loHm.-r inlernatienal spy a.s its agent j in Germany. | l.---i-i,|i • '•.! Punt. pi'(-;: ; dcnl. of E. 1. 1 du Pont deNemonrs, told the senate i, ic;.' n.. had rcjnr'y. that "indi- alod" Germany was. making war ex- ilo:-:vi'S ii\ et n. idcrablo ctni'iiliiies, de- pile IiCoI yb.m.s. h'vidcncc wa.s pre- mie.I lhat German p'llilieal a.vsocia- i( n.- in ID.Tj were being armed with American-mad'..' weapons Miuig'jled in hieii-h Holland. 'i in- t'i:n: ;>!•.-hip in\ olved a sheaf of •ablcs apparently relating lo a HIC- •.•(.-slid cif(.>ri. hy the du Pont company ,nd its K.r Ihh ally, Inuwri;>l Chcini- ;'.! Indiisli ie:;. Lid., to keep u German ciaieiTn from building a powder pi.MI' in Arui-'iiiina. "If Ihn.e cables were made public." .••aid Slo|:hi-'ii Kaushenhush. secretary ' ••••niitli-e. "'i mieht 11 e in a"- tual destruction of life and properly." . . r.-.si'd toy Ihe cnniiMnt.er ;n..-e. were the names of e.'-'rtain Chine.-'e <-f- ii'i.ds win.' had aix\:oU'd ' cnmmi.-'- sinii.s"- -vailed "bribe.s" by cummiltce niembL-rs from the du Font company. '•'o strong have been international (Continued on Page Tlu'eeJ U. S. to Distribute Parity and Rental Payments Together WASinNGTON. — (A*) — The Farm Administration announced Saturday that the third cotton parity payment, due in December, would bo combined with the second rental payment, and both would be dislribuled in October. The total to be paid out is approximately 72 million 500 thousand dol- i lars. Baker Appointed to Supreme Court Governor Futrell Names Him to Post for Which He Was Elected Arson Cases Are Continued Until Nov. 7 at Warren Trial of Four Local Men Postponed for Arraignment of Fifth WILSON FIFTH MAN Minclen (La.) Citizen Charged With Hiring of Alleged Arson Job , Arson charges against four Hopa .men, held under bond for the alleged burning of a cotlon gin at Banks, Ark., the night of April 10, were continued Friday in Bradley county circuit court at Warren until November 7. . The four defendants arc: Charles Crosnoc, Jesse Hutson, Tommy Crawford, and Chris Whcaton, the latter a negro. The trial was postponed on motion of Prosecuting Attorney Geo. Holmes in order thai charges against a fifth man, Ben F. Wilson, might be heard at the same time. Wilson, who gave his home as Min- dcn, La., was brought into the probe IJULLETIN LITTLE KOCK—(/p)—Basil Baker, Jonocsboro, Democratic nominee for the Arkansas Supreme Court term starting January 1, Saturday took Illc oath' as justice by virtue of his appointment to fill the unexpired term of (lie late Justice William V. Kirliy, Little Rock. LITTLE ROCK—Governor Futrell Friday senl lo Basil Baker his ap- poinlmcnl as associate justice of the Arkansas Supreme court lo fill the unexpired term of the late Justice William F. Kirby. Mr. Baker was an opponent of Justice Kirby in the Democratic primary August H, and the justice died suddenly before the election, leaving Mr. Baker without opposition to become the nominee. Justice Kirby's Icrm would have expired December 31. Mr. Baker probably, will receive Ihe oath of office Monday when the Supreme Court will re-convene after the summer vacation. Several cases will be submitted to the courl Monday, bul no decisions will be handed down until the following week. Widespread Theft of Ballots Shown Kk'ction Contests Believed Responsible for Illegal Action LITTLE ROCK —Whether pending '.-lections conic-sis have anything lo do with it. the fact remains that the 'heft or destruction of ballots in the last primary or run-off election in Arkansas is becoming -jpneral. In most instances the ballol.s had hern intrusted to the county clerk, and he; had placed them in a vault, presumably safe from persons who may have designs upon them. But in at least four instances, vaults proved lo be anything but a safe place. Since there was no vault in the courthouse in Van Huron count, the clerk had placed Ihe ballots entrusted to him in the vault of a hank which was being liquidated. Four or five "I".! weks ago. He was indicted by Ine Bradley counly grand jury ID days ago, his trial date being set for November 7. Wilson, the state alleges, hired Croscpe to liavc the gin burned. Austrian Heir and His Mother Long Hits Graft by His Oponents Kingfish Reveals Mysterious Political Loans in •i New Orleans NEW ORLEANS —(/I 5 )— Mystery jfriday cloaked ,Huey T, Long's threat t" throw the entire New Orleans city administration out of office. His legislative commitlee, investi- "atins charges of "graft and corruption" in city officialdom, adjourned ^ubject to call, and political circles were wondering if the Kingfish wns nlnnning to call the legislature into 'uecia' session to address or impeach the offiicals out of office. At a lengthy session Friday the ccmmittee heard toslimony concerning laree loans to Judge Nat Bond of Civil District Court, financial transactions of Supt. of Police George Ryer, and Chief of Detectives John Grosch, and a charge that Gus Blancand defeated Walmslcy congressional candidate in Tuesday's primary, had sent ".spy" into Long's camp as a prospective witness for the legislative committee. A witness identified as W. E. Wood assistant state bank examiner, said udge Bond, who rendered several of the court decisions against Long in his political bailie with Walmslcy, had borrowed JI41.000 from- five New Orleans homesteads since 1925, Wood testified, was attorney for one of the homestead. 1 ;. All except one of Ihe loans, several of which Wood said were made on proper! yof negligible value, were foreclosed. Plate banking offiicals told of transactions of Superintendent. Reyer and Chief of Drlcctivi-.s Grosch. They testified that. Dcycr, whose salary is about S400 a month, now has a balance of $."1.ill 1.54 in three homestead or- Eani/atiens' and that in one period of .15 days in 1931 he made deposits of $1,593.' The witnesses testified that in 1030 1931 and 1932 Groach had made regular monthly deposits exceeding his salary in banks and in the Police Credit Union, an organization for policemen. Bank Robbers Are Sought in Miller Bank of Leary Held Up by 3 Men for $728— Flee South of Texarkaua persons knew the combination. A few days before an election contest was Ic, bt> head, it was discovered that the vault had been opened and hlat the j ballots had vanished. I TEXAHKANA.—Search centered in A few days later an unidentified the Fouke area Friday night for three- man .stole into the Cleburne county • men who hold up the Bank of Lcary eourlhou.se at Heher Springs, held up-at 1:15 p. in., and took 5728.61. the nightwatchnian al the point of a I What was believed to be the tracks The AiiKlro-IIungarlan empire, which conceivably could be re-established by the ascention of Archduke Otto (upper left) 1 to the Austrian throne, is shown, a.s it existed in pre-war years, by the black border drawn over the present-day map of south central Europe. T!ie 'restcwft- tlon of the monarchy Is the unending dream of ex-Empress zita (upper left). Senator Caraway Pushes School Aid Urges President Roosevelt to Issue an Executive Order WASHINGTON -(/I 3 )- Senator Caraway (Democrat) Arkansas asked President Roosevelt in a telegram Friday for an executive order releasing money appropiratcd at the last session cf Congress for emergency aid to education so thai funds could be allotted to Arkansas. The telegram was sent following a conference with L. R. Alderman, director of the federal emergency education program, who was asked recently by W, E. Phipps, Arkansas education commissioner, to allot 52,500,00 to the state. Mrs. Caraway said .she found Dr. Alderman "very sympathetic" and believed thai he regarded Ihe sum asked for as in line with the stale's needs. Alderman explained, however, lhat the appropriation of 5-18,000,000 for aid to schools could be released only by executive order. In addition lo the telegram to the president, Mrs. Caraway telegraphed his .secretary, Marvin Mclntyro, describing the request as "very vital" and asking him to sec that it was "brought to the personal attention of the president. "Upon investigation I find thai Ihc school situation in Arkansas is such that aboul 127 school districts are without funds and have no way of opening their schools," the senator lold the president. "Anything you may do to make funds available and give schooling to the children of Arkansas will be appreciated.' 1 pistol, opened the vault door and got awav with .several boxes containing ballot-;. They are still missing >»>d officers say they have found no clues. In Woodruff county, a different me- was used to destroy the ballots, apparently not successful. Acid poured into three ballot boxes, but the votes in only one were damaged to any apnrcciablc extent. In Sebastian county several days a'-M petitions for the county salary act were .stolen from a strongbox in the.' ol one of the county otfK:ials. ".> wa: : jus! a day or two before the time to file the petitions would expire. Those sponsoring the proposal busy, circulated other petitions and in a short time had sufficient signers. So the theft there will have little, if any, effect. of the getaway ear. a naw Ford V-8 with Arkansas licenses 12-072. were followed by O. T. Aldridiw and F. D. Crook over a dirt cut-off road from Midway to Eylau on Ihc Shrcveport highway, where the car apparently turned east. Later information was received, however, indicating the ear had doubled back over another cut-off, passed south of Tc.Narknna across South Stale Line road, and headed toward Fouke. Deputy Sheriff brown at Fouke began an investigation of tliis .ingle. The robbery was apparently planned for the noon hour, but. Cashier W. McLcndon suspcious of the frequent re-apprcaances of the strangers (Continued on Page Three) Wayne England Is Home From Tour Aetna Life Agent Had Introduced Hope Melon to Wisconsin Wayne England, who has ju.st returned from a convention of the Aetna Life Insurance held in Wisconsin, wa.s the chief speaker at the Kiwanis meeting Friday night at Hotel Barlow. As H means of publicity for Hope. Mr. England fhipped a llo-p'ivmd niel'in lo 'he- convention. Tin- delegates fruiii all parts of Ihc? nation wen 1 ama/.ed at the melon's exceptional si/e. The .speaker save an interesting ae- connt of his trip, \\hich included the World's Fair. The Rev. Guy G. Holt, pastor of First Christian church, wus a yu_s. c,f the club. It was announced that there would be a meeting of the board of directors Monday night. Strikers Demand That Johnson Quit Workers Irate at Blue Eagle Chiefs Criticism of Walkout WASHINGTON.- (ff) - The strike committee of the United Textile Workers in a statement Saturday demanded the resignation of Hugh S. Johnson, National Recovery Administrator. The strike leaders assailed Johnson for his charge Friday night that the textile walkout violated an agreement made last June. Francis J. Gorman, chairman of the strike committee, asserted that Johnson lumself had violated the agreement and declared he thought Jolui- ron "has demonstrated his unfitncsa to hold office." Gorman accused Johnson of making frequent attacks on organized labor. By the Associated Press Rhode Island—storm center of the textile strike in New England—appeared calm Saturday, while guardsmen took up arms lo prolccl plants and workers in Georgia. In Rhode Island the mills closed for the usual week-end holiday. Governor Talmadgc of Georgia, ordered slate troops to a plant al Alco, Ga.. Al Burlington, N. C. a massive dynamite bomb was exploded in a mill Saturday. The blasl wa.s Icrrific, but no one was injured, and damage was slight. uhnson Lushes Strikers NEW YORK —(/]>)— Gen. Hugh Johnson, NRA administrator, Friday night charged thai the national textile strike "is in absolute violation" of an understanding he had reached with Thomas McMahon, president of the United Textile Workers. Johnson said McMahon sal in on the textile code hearings and agreed with the findings. "But Ihe moment the hearing opcn- td," Johnson informed members of various cede authorities o fllie metro- j nulitiuv urea meeting in Carnegie Hall, \ •'and without any notice lo mo of '•>• change of heart he appeared on Iho olattorm of our first great gold fish bowl proceedings and rcpuidated the •ikrccmenl that he hud made with me in the preliminary discussion. ''It was my first experience wilh or- gani/cd labor in the textile industry and it wa.s not encouraging. Last June a strike was threatened in the textile industry. "We reached an agreement on thai i'cr.trnversy and on that agreecmnl die strike wa.s called off. The prc.senl .-hike is in absolute violation of that understanding.' Hits at Union Johnson also charged 'that if such agreements of organised labor arc- worth no more than Ihis one, then vhe institution is not such a responsible Hapsburgs Moving Back Again, France and Italy Willing Otto, Betrothed of Italy's Princesses, Is Likely Choice BRITISH HANDS OFF Monarchy Looms as Stabilizing Force for Central Europe By tlic Associated Press European diplomacy wondered Saturday if the Archduke Otto would mount a restored throne in Austria, Political observers were agitated by, repcrts from Brussels that the former Empress Zita intends to re-establish her home in Austria and feared it meant a renewal of the monarchist' movement. Sentiment favoring restoration of the Austrian thr,orie seemed to be growing in Italy, whose princess, Maria, is unfavorably reported engaged to marry Otto, son of the former Empress Zita. : Official quarters in Paris indicated that the restoration would be tolerated by the French, while the British were disinterested. To Return to Austria BRUSSELS —f.jp -Th-: Hapsbutgr, at last, are goin.? home to Austria. 4 , Sources close to the royal famil> that 1 ' once ruled Austr'is-H'jn.sirv sii'l Fri- 4 day that former Empress Zita. uidow of tlic late empei-M- Charles I who lo.°t his throne in the upheaval that followed the World war, expects to, be^ living in Austria by Christmas. Preparations are under way at Sten- / ockerzell castle here for the return t of Zita and her eight children, includ- < ing Archduke Otto, Hnpsburg pretender lo the thrones of Austria and Hungary. Pcrirnssion has been granted the family it was said to reside in. Austria , as ordinary citizens of the republic. , s Friday -riicht f iZ'jbs,^her month's -stajr •' at Villa Pianore, the Bourbon-Parma, estate at Viareggio, Italy, at an end,* was hurrj'ing back to Brussels, while Otto, too, was enfoute to the .castle here after his tour of Scandinavia. At Viareggion, just before her departure, Zita received King Victor Emanuel and Queen Elena of Italy, and after their call the "unofficial" engagement of Otto to Princess Maria of Italy was made known. If they go back to Austria, it was said here, Otto must promise express- cdly that he will not seek to. secure the monarchy's restoration—unless the great powers of Europe consent- Il> exchange, part of the Hapsburg's big estates confiscated after the fall of the; dynasty, will be relumed to them. An agreement to this effect was reached recently at conferences among the powers, it was said. It was said here the at Littel En- lenle, bitterly opposed to the restoration of the Hapsburgs in Austria or Hungary, would not protest their return to Austria, but would hold tlic Vienna government responsible lor events of the future. •T Rayon Stock Sale Will Be Enjoined Securities Exchange Commission Takes Its First Court Action NEW YORK.— (/P) —The Securities and Excliange Commission began its first court action Friday to put an end to an alleged gigantic stock fraud. Following an invcsligalion directed by Chairman Joseph P. Kennery, and John J. Burns, general attorney, the commission moved to restrain a na- Lion-wide distributing organization, specializing in Rayon ndustries Corp. Class "A" stock, from further operations. It was alleged the scheme involved many millions of dollars which (Continued on Paee Three) Markets Hope Cotton Exchange (Continued on Fage Three) Oct Dec Oct Dec New York Cotton Open High Low Close ........ 12.79 12.80 12.69 12.71 12.90 12.80 12.83 12.76 12.90 12.82 Quotations 12.81 12.7G 12.85 12.90 12.81 12.89 Closing Stock American Can 96 American Smelter 31'A Amer Tel and Tel 109Ms Anaconda 10% Chrysler 30% General Motors 27'/J Missouri Pacific XXX Socony Vacuum l^'/i: U. S. Steel Sffis Standard Oil of N. J 41 Vi Little Itock Produce Hens, heavy breeds, per Ib 10 to lie Hens, Leghorn breeds, per Ib 9 to lOc Broilers per Ib 10 to 12c Springs, per Ib 12 to 13c Roosters, per Ib 4 to 5c Eggs, candled, per doz 20 to 24c

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