St. Louis Post-Dispatch from St. Louis, Missouri on September 2, 1931 · Page 1
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St. Louis Post-Dispatch from St. Louis, Missouri · Page 1

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Wednesday, September 2, 1931
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5 - ST.IO.HS PM TODAY'S NEWS TODAY" tu US at ore LONDON PM ST.. I P ST:-D S PATCH The Only Evening Newspaper in St, Louis With the Associated Press News Se rvice SPORT FINAL Stock Market Closing Prices -- and Complete Sales I t tfLS3. NO. 361 ST. LOUIS, WEDNESDAY, SEPTEMBER 2, 1931. 36 PAGES. PRICE 2 CENTS SANK CLERK ADMITS HE EMBEZZLED $1,500,000 Head of Coupon Depart ment of Chicago's Lar gest Depository "Bor-owed" Bonds for 12 Years for Broker's Margin LOSS $2,000,000, LLOYDS DECLARES Walter Wolf, $4000-a-Year Employe of Continental Illinois, Exposed by Securities Dealer Suspicious of His "Wealth." r FLOOD TAKES 10-TON CARRIAGE 4 MILES THROUGH SEWER Steel Truck Moved From Point Near Delmar to Manchester Ave. A 10-ton steel carriage, used for moving concrete forms in the construction of the River des Peres sewer, was carried down the huge sewer tube for four miles, from Delmar boulevard to a point south of Manchester avenue, .by the rush of storm water last evening. It was stopped by a grating in the floor of the tube where the new drainage works is converted into an open channel, west of Kingshighway. Considerable driftwood was lodged behind it. The carriage, which is mounted on eight wheels adn is 30 feet long and 2 5 feet high, was swept around curves in the sewer and amazingly cleared a junction chamber near Union and Lindell boulevards. The sewer was about one-third full of rain water, running about four miles an hour. Probably the carriage will have to be unbolted and hauled back to the job sectionally in trucks. The contractor for the western1 end of the sewer, the Stiers Bros. Construction Co., uses the carriage to move the metal forms supporting fresh concrete poured for the tube. TORNADO SWEEPS Tl m EST P N MERAMEC VALLEY Three Women Are Injured in Wind Storm That Wrecks Buildings Telephone Lines. an TWISTER FORMED NEAR EUREKA Damage Estimated at $30,-000 in Town and Country and at Beach Resort on River. e Afsieiilci Press. ICAGO, Sept. 2. Walter Wolf, "years old. for 20 years an em- !cye o the Continental Illinois 3ank and Trust Co., will be prose-uted on a charge of embezzling an .mount estimated in some quarters .t $2,000,0 0 u and in others at $1,-'C 9.000. He is held in custody of rr.a'e detectives at a hotel, and as confessed, bank officers said. Lloyds of London, which carried he bank employes' bonds, esti- f-ei the amount at $2,000,000. .. ports current in La Salle street ;laced the figure at $1,500,000. iar.k officers said it would be im-ossible to estimate the amount Cih accuracy until an inventory is omplfcted. but admitted the defal-ations were "substantial." They redicted the Lloyds estimate would e too high. The officers said Wolf had con- ?? 1 to carrying on his defalca-ior.s by using an audit-proof sys-ei over a period of 12 years, but hey added that the bank, the larg-s! in Chicago, was protected jainst loss by Lloyds. Yolfe"s sal-7 was $40 00 a year. Statement by Banker. George H. Reynolds, chairman ' the bank's executive committee, sud a statement which said, in art: "Walter Wolf, manager of the If: he has embezzled securities i::ora the bank over a period of ears, most of which have been pKea in the last two or three IT ears. rhesf ri T it-3 t t-o need n speculations in the stock and I.-rain market. For the most rart ititi.sir.gr securities were used 3 margins, and the recoveries will 5-reat;V reduce the nn-irmnt i n olved." I fim ") f 11'-. t r Vi a m-.,.. f U ; r. or.ression, which was brought DOUt. not bv evidence, (llsrnvprpil aside the bank, but by suspicions ' a broker who wondered where vo!f was ge tting the huge amounts e lost in his speculations. Wolf. Reynolds said, began his peculations in 1913. At that time -e as employed by the old Illinois ;rjn livings Bank which later, nroush two mergers, became a a't or the Continental Bank &; n.n Co. ol is accused of using- securi-?s owned by customers of the :,an'-:. The customer received a ecetpt. A record was made for bank, but when Wolf took a 'ond. he would also take the rec-that went with it. Thus, so ar as the hank was concerned, . wouM h" no record that the .. Isai ever been deposited. nrcre an audit would disclose Mng. M i ; . . .,'1 . . . . j ' mens in bonds with brok I. Peculations. thf. offifpra said .' "en a bc".d had to he arrnnnfpil or. Wolf would get it back from TIS hr-, ......... substituting another. olf wns forced to commit his a:or tluf s- during the stock '""y cf 15 -3. Reynolds said. 0 1''rkfr, bewildered by Wolfs 'i arcn.,,. inexhaustible snr.nl v of J. popped into the bank to -"jJt nis financial situa- Voi' r'-'port of tnis reached 'on " ? !' n'as awa' on a vaca-; Ke returned home, called in .cp president of the bank, who -s a friend of many years stand- "vRf,tl niade his first confession. olf w;s then taken hefnro tVio 'I '. '" s of the bank, to whom quoted as saying: "I will do wining in hoover What y like Wolf . ... s married ana nas one il3nl('r- 12 years old. He lives In n.ooest River Forest suburban GRANDSON OF JAMES B. HAGGIN, WHO SHOT HIMSELF, DIES Xoted Folo Player Said to Have Ended Iiife Because of I-iove Affair. Special to the Post-Dispatch. LEXINGTON', Ky., Sept. 2. James B. Haggin, 19 years old, oldest son of Col. Louis Lee Haggin, owner of Mount Brilliant farm here, and great-grandson of the late James B. Haggin, multi-millionaire New York copper magnate and sportsman, who shot himself last Sunday while alone in his parents' home, died of his injury at St. Joseph's Hospital here shortly after 6 o'clock this morning. The bullet pierced the left lung. Several blood transfusions were resorted to. While It was given out at the time that the shooting was accidental, it Is now known that the young athlete and sportsman shot himself with suicidal intent, said to have been due to disappointment over a love affair. Airplanes were chartered to bring his parents who were at their summer home at Wequetonsing, Mich., to Lexington and they arrived Monday. His brother, Louis Lee Jr., was attending the Hunt School near New York and was also summoned by airplane. Miss Betty Haggin, a sister, also survives. Young Haggin was a noted polo player. were placed by ers as margin for my power to help can be recovered t you may do with me as Wet IniHr.0 . . vai'iuiur. ro'6!tlhPr Buroau today issued the t, - w u.i limy ; AUVISory m. A tropical disturbance in,,, , '"".tusiiy is central a W, ",:itance north of St. Thomas, 11 BELGIAN PROFESSOR GETS TWO YEARSAS ANTI-FASCIST Sentence Also Calls for Deporta tion Troni Italy at End of Term. By thpj Associated Press. ROME, Sept. 2. Leo J. Moulin, young Belgian professor, who was arrested here several months ago, today was sentenced to two years imprisonment and deporta tion at the end of his term, on his conviction on a charge of con spiracy against the Fascist state. Two co-defendants, Viccorio Al- basini and Arialdo Fossati, also were sentenced to two years. Two others were acquitted. Moulin's arrest aroused bitter feeling in Belgium, and because of the international aspects of the case the defense counsel expressed a hope that Princess Marie Jose, Belgian wife of the heir apparent to the Italian throne, might inter cede with the King to pardon Mou lin. During the trial Moulin admit ted that he had brought a trunk with a false bottom Into Italy and kept in it certain documents he had collected for friends outside the country. He said that he did not know his activities would be offensive to the Fascist Government. HOSIERY WORKERS TAKE CUT Employers Promise to Restore 1929 Wage Within Year. By the Associated Press. PHILADELPHIA, Sept. 2. The Philadelphia Record says an agreement was formulated yester day between national leaders of the hosiery industry and unions whereby workers accepted a drastic wage cut to assist hosiery mills to "get back on their feet." The mill owners in return, the news paper says, agreed to return to 102 9 levels after a year. Wages during 1929 were from $40 to $75 a week. At present union workers get between $35 and $50, while under the new agreement they will get from $15 to $25 a week for a year. Mills and work ers representing about 35 per cent of the hosiery output of American and Canadian mills will be affect cd. . A tornado formed when two storm clouds met west of Eureka, ia the western part of St. Louis County, swept along a valley for two miles late yesterday, causing damage estimated at $30,000 before it spent itself on the Meramec River bluffs opposite Times Beach. Trees were uprooted, farm buildings demolished, windows blown out and telephone and telegraph poles knocked over. The path of the storm followed the southern and eastern edges of Eureka, which has about S00 inhabitants, and damage in the- central portion of the town was slight. Three cases of minor injuries were reported. Deputy Constable Michael Hance, who operates a restaurant in Eureka, saw the tornado form from the rear of his restaurant. He fixed the time at 5:33 p. m., and said the twister passed Eureka within a few minutes. Rain was not falling when the storm broke, but a torrential downpour followed immediately. Eunnel-Shaied Cloud. "I saw two black clouds, approaching each other," Hance said, "one from the southwest, the other from the northwest. They met just west of Eureka, and out of them came a twisting funnel-shaped cloud which appeared as dense as black smoke." Damage was confined largely to a path about 300 feet wide which the storm followed. A plate glass window in the Bank of Eureka, about 100 yards from the tornado's path, was blown out, as were other windows in sections not struck with the full force of the storm. Bricks and tile were torn loose from buildings. Leaving Eureka, the tornado blew north and east along the Antire road and the Missouri-Pacific and Frisco Railroad rights of way. Sixteen telephone poles were blown down, cutting off three long distance circuits to St. Louis and service to 41 telephones. Damage was repaired within two hours. A small shed on the Frisco tracks which housed a hand-car was demolished, and the car itself hurled 200 feet from the tracks. A mile east of Eureka the storm struck the home of John Claf fey, blowing down outbuildings and causing $3000 damage. The stone walls of a smoke house collapsed just as Claffey. ran from .beneath them Two Injured on JFarm. Farther on, at the farm of John C. Anton, farm buildings were wrecked and two persons were injured. Anton's daughter, Garnett, 20 years old, suffered a crushed left foot and her friend, Helen Savory, was cut and bruised. They had been in a rabbit house which collapsed. The only other injury reported was suffered by Mrs. Thomas Dempsey of Eureka, whose arm was cut by flying glass. At Times Beach, a summer resort on the west bank of the Meramec River, a mile and a half east of Eureka, about 10 clubhouses were demolished or substantially damaged. FAIR TONIGHT, TOMORROW, MODERATE TEMPERATURE German Flyers Arrive in Chicago - . jl TWO JUDGES ORDER SHERIFF TO CLOSE T DOGTRACK TONIGH Injunction Issued by Bern-reuter and Miller After Appointment of Three Special Prosecutors. SENATOR FESS TELLS OF HIS EXPERIENCE WITH DEPRESSION OFFICIAL DIRECTED TO ACT AT ONCE AFSoelated Pres "Phntn. J7KOXT, rifrht, CAPT. WOLGANG VON GRONATJ and, left, CO-PILOT 1 E. ZIMMEK; standing, from left, MECHANIC F. HACK and RADIO OPERATOR F. AXBRECHT. They left Germany Aug. 9 and proceeded across the Atlantic by way of Iceland and Greeaiand, arriving in Chicago, their goal, yesterday. GERMAN FLYERS REACH CHICAGO BY ARCl ROUTE Capt. von Gronau and Crew of Three Complete Survey of Projected Commercial Air Line. THE TEMPERATURES. 1 a. m 68 0 a. m 2 a. m 67 10 a. m 3 a. ni. ....... 67 11 a. m. .... 4 a. m ....... . 7 12 noon .... 5 a. m. ....... 67 1 p. m 6 a. ,ra 67 2 p. m 7 a. m 67 3 p. m 8 a. m bfc 4 p. lu. . . . i p"lf-rca.v s hi . 69 . 6! I , . 66 . 68 , . 70 . t . 74 . iOldMamBiver NEEDED A SttOW&P BATH. c WOMEN FIGHT WITH PISTOLS By th Associated Press. MEXICO CITY, Sept. 2. Two women fought with pistols today for the affections of Sergic Silva, a tailor. Sofia Mendoza fell with a bullet wound In the chest. The shots attracted a policeman, who sent the wounded woman to a hospital and moving took the other. Maria de los Angelea Garcia, to jail. h. 77 112:15 P. ni.: low 6S (11:45 n. m.) Relative humidity at noon, 09 per cent. Official forecast for St.. Louis and vicinity: Fair, but with some cloudiness tonight and tomorrow ; moderate temperature. Missouri: Partly cloudy tonight; tomorrow generally fair; little change in temperature. Illinois: Partly cloudy t o n i g ht; and tomorrow, probably showers in extreme south portion tonight; not much change In temperature I POST-DISPATCH WEATHCHBIRO By the Associated Press. CHICAGO, Sept. 2. The first scientific flight from Germany to Chicago over the great Northern circle route ended successfully last night whT-n Capt. "Wolfgang von Gronau, German trans - Atlantic flyer, brought his whale-shaped twin-motored flying boat, the Groenland AVal, down on Lake Michigan, opposite the Loop. The trip was started from the island of List Syt on the North Sea coast of Gerniany Aug. 9. The long journey, part of which was over the ice wastes of Greenland, was sponsored by German scientific and commercial organizations to determine the. feasibility of a commercial air line over the Northern circle route, - but Capt. von Gronau was not very optimistic. He said such a line was possible, but it w ould take a lot of money. "It all depends," he said," "on how much can be spent. There is always fog and always westerly winds. Our engines take- too much oil. Also refueling depots and repair shops would have to be established at intervals over the route." Second Flight to U. S. Capt. von Gronau and his crew of three ended their long trip at 5:10 p. m., six hours and 10 minutes after they had taken off at Long Lake, Ont. It was their second flight over the great circle route, the first having been made last year when they flew from Germany to New York. .The flight from Long -Lake, which-is just north of Lake Superior, was made without a stop, and only a small amount of gasoline remained-in the tanks when thi plane landed after circling over Grant Tark while about 1000 per sons watched. One of the first to greet the fly ers was Bert Hassell, Rockford, 111., who with Parker Cramer was the first to attempt to link the Middle West with Europe by the great circle route through Greenland and Iceland. Cramer and his operator, Oliver Pacquette, recently were lost at sea after virtually "completing the flight, and Capt. von Gronau was one of the last to see Cramer and Pacquette before they disappeared. "I met Cramer when I was landing on Faroe Island," Capt. von Gronau" said'. "He was taking off as I was landing, and we waved to each other." Tells of Severe Storni. "We had a big storm at the beginning of our flight," Capt. von Gronau said. "When We landed, it was foggy and cloudy and we could see nothing. As the only purpose of our flight was to see, we waited three days, then went north to the only harbor on the east coat-t of - Continued on Page 2, Column 3. NCH RAN NEW MARK ta rn FOR SEPTEMBER Precipitation in 24 Hours Heaviest Ever Recorded in That Month Mississippi River Rising. Fitzgerald Now Under Two Conflicting Court Writs 'Will Serve Paper If It Is My Duty. The heaviest 24-hour rainfall on record in St. Louis for the month of September was recorded for the 24 hours -up to 5 a. m. today, being 4.2 inches. The total precipitation in the two days' rain was 4.49 inches. One effect of the heavy downpour of rain which has ushered In the month of September will be to end the depressed state of the Mississippi River, which last week reached a new low stage for this time of the year. In the 24 hours up to 7 a. m. today, the river rose 1.4 foot," most of the increase being since 4 p. m. yesterday. This morning's reading was one foot above low water mark, whereas yesterday morning it was .4 foot below the mark, a record low stage for August. 3Ilssissippi Is Rising. The Mississippi was reported rising all the way from Dubuque, la., to Cape Girardeau, Mo., the rise "at Keokuk being 4.1 feet, and at Hannibal 1.2. A rise of 5 feet at St. Louis is expected by the Weather Bureau. Heavy rains were reported from other points in Missouri. At Jefferson City, the rainfall in the 24 hours up to 7 a. m. today was 3.4 inches. At Fulton, for the 24 hours ending at 8 a. m., a fall of 4.15 inches was recorded. Interference with traffic, and minor ' damage by lightning, were incidents of the two-day storm in St. Louis. Two dwellings were struck by lightning and set afire between 3 and 4 a. m. today. In the three-story brick house at 2603 Lawton boulevard, the fire, which was on the second floor, did 50 damage. The two-story frame house at 5S23 Southwest avenue, had 100 damage from fire. No one was injured. -Des Peres Sewer Demonstration. The rain served to give the first practical demonstration of the effect of the River des Peres improvement, costing $11,000,000 and now completed in Forest Park and along the stream's course south of the park to the Mississippi. Such rains as that of the last two days have come, in the past, every three years on an average at various seasons, and have caused overflows in the park and flooding of residence regions. Today's reports showed that the new Des Peres sewer was taking care of the surplus water easily, and without reaching more than one-third of Its capacity. More Than 7 Inches In 12 Hours at Johnson City, III. JOHNSTON CITY. 111.. Sept. 2. More than seven inches of rain fell here in the last 12 hours. Places on State highways have been flooded for the first time. Many houses and store buildings have been flooded. An Injunction ordering the immediate closing of the dog racing track of the Madison Kennel Club, near Collinsville. was issued at Ed-wardsville this afternoon by Circuit Judges Louis Berrreuter and Henry G. Miller of the Third Judicial Circuit of Illinos. The injunction petition, alleging the track has run for four years in "open, flagrant violation of law," with law enforcement officials doing nothing about it, was approved by the two Judges a few minutes after being handed to them by three special prosecutors whose appointment they had just announced. The Judges ordered the injunction order drawn up and directed Sheriff Peter Fitzgerald to serve it before nightfall. Sheriff Fitzgerald, who was re strained from interfering with op erations of the dog track in a tem porary injunction issued Saturday by Circuit Judge Jesse R. Brown of Alton, announced he would "serve it if it is my duty to do so." An hour later, after consulting an attorney, the Sheriff anounced he would serve the injunction papers "right away." A hearing may be granted the defendants five days after receipt of a notice requesting it. Opinion of Prosecutor. Harry F. Faulkner of Granite City, one of the three special prosecutors appointed to nullify Judge Brown's order, pointed out the Sheriff would not be in contempt of Judge Brown's order by serving the closing injunction, since he would be simply serving a legal document rather than interfering himself with the operations of the track. Judge Brown, who was In his chambers at Edwardsville while his two associates, both militant foes of the dog tracks, took action to close the Madison track, did not comment on the new situation. The other two special prosecutors are C. C. Ellison' of Alton and Henry B. Eaton of Edwardsville. Ellison was designated formally as a Special State's Attorney, with the others named as his assistants. The three prosecutors, all Madison County residents, -were leaders in a recent political fight against Judge Brown when he unsuccessfully sought the Republican nomination to the Illinois Supreme Court from the Second Judicial District. Bettlns Loser Signs Petition. The affidavit supporting the injunction petition was signed by E. W. Hilker cf Madison, a building material dealer and a political opponent of Judge Brown. It recited he bet $2 on each of two races at the Madison Kennel Club's track Monday night, losing both times. Judges Bernreuter and Miller have indicated the special prosecutors will seek a change of venue from Judge Brown's court if they should decide to file a motion to set aside Judge Brown's temporary restraining order against the Sheriff and State's Attorney interfering with the dog tracks. Judges Bernreuter and Miller, both of whom expressed surprise at Judge Brown's order and criticised him severely for issuing it. said their appointment of special prosecutors was designed solely to give representation to the people of Madison County. They said it was their business to do w-hat they could to stop the dog track business. Despite a heavy rain about 2500 persons were at the dog track, near Collinsville. last night. The races were on the second card to be held there since the track closed Aug. 5, last, upon the unexpected return of Judge Bernreuter from a Colorado vacation with the announcement he had come back to Bee the gambling laws were not violated Jn Madison County. Threat by Republican Leaders. Judge Bernreuter. who stated previously that "political pressure" was brought to bear upon him all Bummer to withdraw his opposition to dog racing, said today he was threatened with the withdrawal of the support of the Republican Central Committee of Madison County. He has been on the bench more than 20 years and Is serving a term which ends In IDS 3. "About half of the . members of Can't Borrow From Bank or Draw Loan Association Savings to Build a House. By the Associated Press. WASHINGTON, Sept. 2. An exchange of confidence between the bankers and the public was declared imperative today by Senator Fess (Rep.), Ohio, for a restoration of business stability. The Senator recited a recent ex perience of his own in seeking unsuccessfully to obtain money to build a home. He expressed his views to an Ohio constituent in commenting upon complaints of heavy increases in postal savings. It is a situation most difficult to decipher." he wrote. "The country has all the assets it ever has pos sessed with the single exception of confidence. There has been no great calamity since the World War involving destruction of prop erty or loss of resources. We have all the basic elements of a sound prosperity, including managerial ability. The one thing lacking is confidence in our financial institutions. How to insure this is our problem. For the life of me I do not see how you can cure this lack of confidence but like the mumps It must work Itself out. "Last week I asked a banker to loan me $6000 to be applied on the building of a new house. The banker threw up his hands and said: Oh, Senator, we cannot make any loans at present.. While we are sound we must remain in a liquid condition. "I informed him that it would be necessary for me to take out my deposits in the loan associations Applications to the three associations in which I have deposits suf ficient to build the house met the same response. This meant that I could not use my own money not because they didn't have it. That is one case of several in a small town. That case is typical through out the United States. That spells the depression under which we are suffering." The person, who wrote Senator Fess, had called attention to the fact that In his Ohio town since the middle of-March a total of $357 023 had been deposited in postal savings there. GERMANY, AUSTRIA TO GIVE WAY TOFRANCE Expected to Announce Abandonment of Customs Union Plan Before Decision on Question Is Rendered by World Court S300.000.00Q U. S. BONDS OVERSUBSCRIBED THREE TIMES Books Still' Open on Rest of $1,-100,000,000 Issue Announced Monday. WASHINGTON. Sept. 2. Subscriptions to the $300,000,000 part of the $1,100,000,000 security issue announced by Secretary of the Treasury Mellon on Monday totaled four times the amount called for. The books were closed last night on the lVa per cent one-year certificates. Mellon In a brief announcement said the subscription to the certificate issue in two days had amounted to $1,200,000,000 and that $500.-000,000 of the amount was by persons wishing to exchange maturing certificates for the new issue. He said these subscribers would get 60 per cent of their subscription, and none would go to subscribers who wished to purchase certificates for cash. The books have not been closed on the $-800,000,000 of 3 per cent bonds which make up the rest of the issue. PARIS HAD FEARED POLITICAL ALLIANCE This Is Likely to Clear Way for Really Fruitful Visit to Berlin Late This Month by Briand and Premier Laval. BLACK PHANTOM, STAGE COACH ROBBER OF OLD WEST, DIES Allen R. Downen, 82, Succumbs In Prison; Had Served 3.1 Years Under Lire Sentence. By the Associated Press. CANON CITY, Colo., Sept. 2. Allen R. Downen. stage coach robber of the old West, died in the penitentiary here yesterday. He was 82 years old. He had served 33 years under a. life sentence for murder. Records show Downen became a bandit at the age of 24. He served two sentences in San Quentin prison for California robberies. A series of daring holdups in Montana and Wyoming in the early '90s caused him to be known as the "Black Phantom." He was convicted in Colorado of the murder of Joel Ash worth. Continued on Page if Column 7. NO MESSAGES FROM WILKINS SUBMARINE IN THREE DAYS Ey the Associated Press. OSLO, Norway, Sept. 2. The radio station at Bergen has been unable to effect a contact with Capt. Sir Hubert Wllkins polar submarine Nautilus for the lant three days and there Is much speculation as to what may have happened to the craft. Every night the , station has called and every day it has listened for an answering signal which has not come. It is presumed the Nautilus has gone under the Ice pack and its radio signals have not been strong enough for Bergen to pick up. Jewels Worth $100,000 Stolen. SD-iM to th Fost-Disnstch. CHICAGO. Sept. 2. Detectives are investigating the theft of $100,- 000 worth of jewels from the home of Lawrence F. Stern, millionaire investment banker, at Glencoe. Stern exonerated Miss WUma Harjes, 27-year-old maid of Mrs. Stern. He denied she had a suitor who was being sought. By the Associated Press. GENEVA, Sept. 2. Germany and Austria are expected to issue tomorrow or Friday at least before th,e decision of the World Court a joint declaration announcing th abandonment of their proposed cus toms union at the request of France. Foreign Ministers Julius Curtius and Johann Scho'oer, it was learned. probably will announce their deci- ' sion before the Tan-European Com mission. It is understood that tha statement will be in such form ai to satisfy France tnat the proposal has been definitely shelved without going to the extreme of abject renunciation. . It is considered an open secret that Austria's financial difficulties did not leave her pny other choice. A friendly attitude on the part of France when the question of extending aid comes before the League of Nations Council is considered of life-and-death importance to Austria. The World Court is expected to deliver on Saturday its long awaited decision on the matter a decision that is reported to deny Austria's right to make such an agreement under the terms of the war treaties but upholding Germany's right to do so. But the question already will be settled and the dynamite in it removed. The League Council then will be able to reconvene and discuss the general question of customs unions and the specific question of attacking the Austrian financial, crisis. The way will also be clear, it ia felt, for a really fruitful visit by Premier Laval and Foreign Minister Briand of France to Berlin at the end of September. There are other matters on which Franco-American understanding is highly desirable but the opinion in League circles is that the amicable removal of the customs pact from the field of controversy ia a most important step in the direction of the restoration of political stability in Europe. The Austro-German proposal, advanced last March, was designed to facilitate the flow of trade between both countries without the barrier of tariff restrictions. France and the members of the Little Entente particularly charged It was the first step toward a political union and in order to satisfy them the signatories submitted it to the World Court. French Premier and American Ambassador to Confer. By the Associated Press. PARIS. Sept. 2. Premier Laval and American Ambassador Edse will hold a conference at the Ministry of the Interior this evening on subjects which are likely to be discussed at the approaching assembly of the League of Nations. Economic and financial problems, disarmament and close Franco-American collaboration on world problems may be touched upon. Several newspapers insisted that In their conference last night Edga and Minister of Finance Flandin discussed war debts and a statement was released by "the economic and financial agency" saying that the United States is about to take a new Initiative In connection with interallied debts. Reliable Information is that Edge and Flandin talked about the general world financial situation, including th advancement of recent credits to England and it is understood that the French official mada only a passing reference to war debts. It was officially denied that new overtures had come from the United States on the question of war debts or that this was the basis of last night's parley. , France Denies seeking to Postpone Arms Conference. By the Araoomted Ppp. PARIS. Sept. 2. The Foreign Office today characterized as absurd reports from Geneva published In the United States that France had Continued on Page 2, Column 5.

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