St. Louis Post-Dispatch from St. Louis, Missouri • Page 11

ST. LOUIS POST-DISPATCH THURSDAY, JULY 25, 1935 ST. LOUIS POST-DISPATCH. CALIFORNIA I ECCLES GREATEST I TVACT. 11A crashed into a tress in Coronado last night.

Curtin, aide to Admiral C. E. Courtney of the U. S. a Memphis, was injured seriously.

giving the response th people might expect." Speech Yesterday. It has been demonstrated time and again. Glass said in debate yesterday, that this country does not want a central bank even "in the skillful guise of the so-called Aldrich bill." He said both the Woodrow Wilson and Theodore Roosevelt platforms opposed such a scheme and in its place there was created a "regional reserve system upon the theory that the 12 regions established would know better how to manage their own credits and respond to the requirements of their own people." WOODBURY'S FACIAL SOAP I If Formerly 25c U5L- I I 0 i Formerly 25c La CI At tot CO 7c- II I 25c size I A fCSF I I Aisjl I1UE-JAY 1 I V2 ILgMl4c 41c SHAVING I fii JAD SflLTS I DR" CREAM I ff C0NENsSED POWDER e. 1 35c Size I Ikf 60c I 50c SIZE III bVAl 01 'avy Officer's Wife. Killed.

SAN DIEGO. July Elizabeth Curtin was injured fatally when a car driven by her husband, Lieut Neal R. Curtin. U. S.

CLEAN $2.00, $3.00 $4.00 SHOES 5 fl 53 MEN'S SPORT Whites, Combinations All kind. All sizes $2.45 BOYS' $1.33 800 FRANKLIN SPORT SHOES GALE'S 7360 MANCHESTER Ae. Xext to Pia-Kly lKftly 25c FEEflAMItJT LAXATIVE KAFFEE Pilot and Boy Killed in Plane Crash By tne SUMTER, S. July 24. Arthur H.

Deloache, 23-year-old pilot, and Ray Bland, 15, his passenger were killed yesterday when Deloache's new monoplane went into a tail spin and crashed from an altitude of 250 feet. Heflin Takes Job With FHA. WASHINGTON. July 25. Former Senator Thomas Heflin of Alabama said today he had accepted an appointment as administrative assistant for the Atlanta district of the Federal Housing Administration.

He said the job paid $4800 a year. BLUE JAY CORN PLASTERS LUX TOILET SOAP 5 FOR I24c EN I I A i jJ i Yv 711 2720 522 5971 5003 1604 SOUTH 6665 WASHINGTON N. 14th ST. OLIVE EASTON GRAVOIS BROADWAY DELMAR AVENTF orner Between Vrt to Corner Xeit to Corner Next to I-oew's St. Iinls Ave.

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3 Assrwina1 Press Wirephoto. ADRIENNE AMES. ADRIENNE AMES OBTAINS DIVORCE FROM BRUCE CABOT Movie Actress Tells I.os Angeles Judge Husband Stayed Out All ight. LOS ANGELES, July 25. Adrienne Ames, movie actress, obtained an uncontested divorce yesterday from her third husband, Bruce Cabot, on a plea that they "didn't seem to get along very -well." "Two weeks ago, he stayed away from home all night," she com- plained.

Miss Ames married Cabot in his I home town of Carlsbad, IS Oct. 31, 1933, the day after she divorced I her second husband, Stephen Ames, I New York broker. Previously she had been divorced from Derward Truax, Texas oil man. Norris Guest at White House. I By the Associated Press, WASHINGTON, July 25.

Presi-j dent Roosevelt invited Senator Nor-j ris Nebraska, to be his luncheon guest today. Exclusive St. Louis Dealer: CARTER Typewriter Ribbons and. Carbon Papers Phone Garheld 6600 i mm -TV was proposed today by Senator Nye North Dakota, as a substitute for the credit control provisions of the bill. Supporters of the compromise bank bill predicted defeat of the substitute which would set up a "bank of the United States of America" to be the agency of Congress to issue money and control its value.

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Roll of ADHESIVE TAPE BOTH FOR VOC MTST HAVE COrPON SabsBsfcZ3 MM re i law $1.50 UHUHN'5 12c OF ALL, GLASS SAYS Senator, Resuming Speech on Banking Bill, Asserts Reserve Governor's Stand Amuses Him. By tha Associated Press. WASHINGTON, July Glass of Virginia told the Senate today he was "amused" that Mar-riner S. Eccles, governor of the Federal Reserve Board, wanted to prevent inflation, "because of all the inflationists in this country he has exceeded the group." Resuming his speech on the banking bill. Glass denied it was an "administration bill" and then without mentioning Eccles by name, said: "It is suggested that the 'chief advocate of Title Two (the section giving the Reserve Board majority control over the nation's credit resources) is in a nervous state of anxiety lest we should have inflation in this country.

He wants to prevent inflation and deflation. "Well, we already have more deflation than may be remedied in the next 10 or 20 years to come. As for inflation, I'm amused that the sponsor of this bill wants to prevent inflation, because of all the inflationists he has exceeded the group." Glass has contended Title Two was unnecessary, but he made concessions to Eccles and the latter to him in order to get a unanimous agreement on the bill in committee. Galleries Packed. Galleries were packed with listeners as Glass spoke.

Senator Nye North Dakota, waited to address the Senate in favor of a Government-owned and operated central bank, a proposal which Glass termed yesterday in the opening remarks as "repugnant." Glass said today that "repeated references to the bill as an administration bill have no justification whatever." "It isn't an administration bill," he said. "The President never read a word of it, unless it was very recently. The Secretary of the Treasury is on record as saying he has not read it. Every member, except one (Eccles) of the Federal Reserve Board testified he had not i seen the bill until after it was sent I up here. The President referred to it in a letter to the committee as tentative bill aid asked that we call various officials on it." Glass said he had been calling it "simply the Eccles bill because nobody, with that single exception, who appeared before either committee ever advocated the bill." Although agreeing to the committee compromise draft.

Glass said the Banking Act of 1933 "averts all danger of a return to the frightful conditions of 1929." "In that act," he said, "we required for the first time that the Federal Reserve Bank keep itself informed as to credit of member banks to ascertain whether they were making undue use of credit for speculation." For Local Self Government. Pleading for preservation of "local self government'' by the reserve banks and the regional character of the system. Glass said the "newest member of the board" (Eccles) "never had a day's association with a Federal Reserve bank in his life, but proceeded within 90 days after his nomination to propose revoluntionary changes in the system." He referred to a pile of protests on his desk against "wrecking the regional" character of the reserve system by placing it under the control of a bureau in Washington. "To be frank," he added, "a bureau that has never had a magician in its membership and hasn't got one now." In its first vote on the bank bill, the Senate kept intact a provision requiring State banks with deposits of $1,000,000 or more to join the Federal Reserve System by July 1, 1937, in order to retain deposit insurance. The clause also provides that any state bank organized after the bill becomes law, regardless of total de posits, shall be required to join the reserve system in order to obtain deposit insurance.

The Senate then gave approval to the entire title one dealing with deposit insurance and went onto the heart of the measure dealing with credit control. Title one makes permanent the existing temporary law insuring deposits up to $5000. It lowers the assessment against insured banks to one-twelfth of 1 per cent a year of total deposits and suspends assessments when the total fund reaches $500,000,000. to resume them when the fund is impaired 15 per cent. For Central Rank.

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