The Mason City Globe-Gazette from Mason City, Iowa on February 1, 1934 · Page 11
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February 1, 1934

The Mason City Globe-Gazette from Mason City, Iowa · Page 11

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Mason City, Iowa
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Thursday, February 1, 1934
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FEBRUARY i 1»34 MASON CITY GLOBE-GAZETTE ELEVEN PROFIT IS SHOWN BY DEVALUATION Roosevelt Not to Wield His Stabilization Fund in Drastic Manner. WASHINGTON, Feb. 1. (JPi--Am- erica went to work today with its dollars devalued by 40.94 per cent of their forme'- gold content, while the treasury jingled a $2,770,000,000 profit In»lts poeketa ani watched for jinglea In dollar levels abroad. President Roosevelt had at his command today a stabilization fund made up of $2,000,000,000 of his new money. But early official indications were that it would not at once be Wielded drastically. Further the United States was de- · Glared to be on a sort of "modified gold standard" or rather on an "international gold bullion standard." To Buy All Gold. By his unexampled steps yeater- day, Mr. Roosevelt held that until "further notice" the dollar was revalued at 59.06 per cent of its gold content and that the treasury would offer $35 an ounce for "any and all gold." Any major currency adjustments abroad, however, were looked for as the tip for a "further notice" signal. But for the present, the revamped United States monetary system wa effective in full. The first step was taken at 3:10 p. m. yesterday . n .n the chief executive signed the proclanuX'on cutting the dollar's gold content from 2 V ' to 15 5-21 grains of gold-nine-tenths fine. Bank Begins Operations. Tne next went into full swing today when the New York'i ederal reserve bank, acting- for the treasury, offered $35 an ounce for gold and was prepared to buy or sell on Washington's order. The "inturr xtional gold bullion standard" angle was explained as meaning- that for the first time since March, this government is willing to settle international exchange balances in gold. Kere are some of the results hoped and looked for by administration f--verls as outcomes of the new move: A' world gold price at the $35 an our,~2 level; A rising response in commodity prices Leginning: with the export grou'p oii commodities and spreading 'gradually to others; Exchange Katio Firm. A firmly fastened exchange ratio between the dollar and the French franc--a gold standard money-which for a while will necessitate little gold movement between New York and Paria. A vcriable ratio between the po-rid and the dollar,' ' depending jjsfly on ..what^ England, may do il,'her' equalizaU^n'Sundj "'"·". Cor.c^rrstivi ethpidyr.ierit of the MR. MIX' SYSTEM WAS REGULATED BY THE GLY-CAS For Past 7 Years He Had Aw- ftil Headaches, Gas Formed in Stomach, Tired and Worn OirJ--Before He Gave Gb" Ccs C h a n c e t o Restore Heaith. Air. Harry Mix, 218 8th S. E., Mason City, \vcll known truckman o£ this city, is among the many hundreds of former local sufferers who feel and frankly admit so publicly thi.t there rcvcv was a medicine before as th:s in\v Gly-Cas for treasury's $2,000,000,000 tion fund. The administration also hopes eventually for an international sta- 3iliza.tion agreement. No signs of it have yet appeared, however. Essential to Agreement. Between the United Statea and Great Britain and the United States and France--the nationals this administration considers essential to any international money agreement --one expert used the simile of a stick to describe the new exchange situation. "The stick between here and France is fastened," he said, "but the stick joining us with London may move, depending on what England does." Another official described the new dollar as having "a roof and floor of 59.06 per cent" but he emphasized this could be changed at any time by another executive order. President Roosevelt announced his devaluation proclamation at a crowded press conference. Among the important phrases he employed were: Trade Adversely Affected. "I find upon investigation that the foreign commerce of the United States is adversely affected by reason of the depreciation in the value of the currencies of other governments in relation to the present standard value Q.1 gold and that an economic emergency requires an expansion of credit. "I find from my investigation that in order to stabilize domestic prices and to protect the foreign commerce against the adverse effect of depreciated foreign currencies, it is necessary to fix the weight of gold dollar at 15 5-21 grains nine-tenths fine. "The weight of the silver dollar Is not altered or affected In any manner by reason of this proclamation." Shortly afteward Secretary Mor- genthau announced that he would sell gold for export to foreign central banks whenever exchange rates reached the gold export point, that Is when the dollar fell too low in teims of foreign gold standard currencies, .Such sales would be at the $35 prices. Vroflt of Two Billion. WASHINGTON, Feb. 1. /P)--The United States E°ld supply was announced at the treasury office today to comprise $4,029,092,988.86 On the gold dollar basis. This was the value of the nation's monetary gold to which the government took title on Tuesday, but does not represent the increased dollar value resulting from President Roosevelt's revaluation of the dollar at 59.06 per cent. Latest treasury figures indicate a profit of ?2,792,9'10,517.50. Revaluation made this gold worth $6,822,033,506.36 in the new dollar. TELLMtf EFFORT TO HUSH SCANDAL K-outlnurd L-'run) )'ago J ) Lion made no accusation against this man'then. It makes no accusation against him now. But In handling $3,300,000,000 of taxpayers money we could not afford to take any chances. Bcdliim Breaks Loose. "Bedlam promptly broke loose. By long distance telephone, by letter by telegraph, by postal interview, '. was beseeched to issue a statement clearing this man of any supposed wrongdoing in connection with the public works administration. I gave out no statement but I took the position that for sound reasons he wag being investigated and that in such circumstances I would neither accuse or whitewash him in ad vance. Meanwhile that faithful pub lie servant, Louis R. Glavis, head of the division of investigations of the interior department, was ^ot on the trail. 'Evidence ;.J.U I MR. HARRY MLX agonizing rheumatism, neuritis, stomach, kidney, bowel, blood troubles. Read what Mr. Mix had to say recently in a statement to the Gly-Cas Man at Michael's Drug Co.. 5 So. Federal Ave., this city: "Every sufferer should know about Gly-Can--it is wonderful, its action is so quick and thorough," said Mr. Mix. "'I am glad to tell the few who this will reach about this jiew remedy. For seven years chronic constipation, gas on my stomach and bloating after every meal had kept me in constant mis ery. The headaches I had, which was almost constantly, were unbcar- able at times and I do not see how J stood it. Nothing was able to help me and the various remedies I tried did me no more good than so much water. But finally I gave this new Gly-Cas a chance on ray stubborn case and the third day I was feeling like a new man All that dead, tired and worn-out feeling has left me entirely. Stomach and bowels regulated and gas and bloating is a thing of the past. Gly-Cas is one medicine that works--even when all clso fails." Every day Gly-Cas is winning new friends here- in Mason City and holds the old ones for It gives just the results many had been wanting for years. Gly-Cas is sold by Michael Drug was unearthed which was presented to the department o justice in Washington. The politics cohorts promptly moved their siege guns to that department. Every po litical and personal influence po.ssi ble was brought to bear in an effor to hush up the matter. The facts were laid before the attorney gen eral. Orders were given to the loca district attorney to present the evi dence to the grand jury under everj safeguard of the rights of the ac cused. After hearing the evidenc the grand jury indicted this man and his associate. Not Pronouncing Judgment. "I am not pronouncing judgmen in tills case. I merely did In this in stance what I have done in other where there has been cause to sus pect that men have been trying t take personal advantage of the re covcry program. If these men nov under indictment are innocent the; have nothing to fear. If a jury o their neig-libors find them guilt} they will pay the penalty. "There are two points to this stor and that is the reason I have tol it to you. One is that the publi works administration will pursu any charge of graft or corruptio or chiseling regardless of wher the trail may lead. The other poin is that even an officeholder of hig degree does not have enough po litical pii' 1 . to escape the on: stretched hand of justice if he of fends against the law." Kraschel was the guest of Sen ator Louis J. Murphy in Washing t~n during consideration of th case by the justice departmen just before District Attorney Co flesh was told to proceed with Ih case and lay his evidence bcfor the grand jury. Co., 5 South Federal City, Iowa. Ave., Mason Titonka Sends Receipts of Ball to Foundatio TITONKA, Feb. 1.--More than 200 attended the Roosevelt hlrthda card party and dance at the T tonka coliseum Tuesday evening A little more than $25 was mad to he sent to the Warm Springs en dowmcnt fund. NSULL'S STATUS STILL UNCERTAIN Cabinet Adjourns With No Announcement of Its Decision. ATHENS, Feb. 1. /P--The offl- :al status of Samuel Insull in recce still was uncertain today as he cabinet adjourned without any nnouncement of the expected de- ision in his case. The minister of the interior said hat no decision had been reached, ut added that the former Chicagon might continue to reside momen- arily in Athens. The Greek law permits all aliens o remain a few days after the ex- iration of their police residence ermits to regulate their affairs. The permit granted Insull, wanted n the United States to face charges f embezzlement in connection with he failure of Ms utilities enter- irises, expired last midnight. BOOSflNlNCOME TAXES DEFEATED (Conllnuftt From Page 1) ment of codes and other provisions under the national recovery" act. One bill was passed by the senate t its morning session, a measure authorizing the city of Sioux City o take over an armory and to issue bonds to finance it. Senator Shongle urged adoption f his amendment in the floor debate vhile the proposed increase was opposed by Senator John K. Valentine, chairman of the interim committee nd other speakers. Shangle contended that it was only fair to tax the higher brackets of income at higher rates than those of the interim committee bill. Senator Valentine told the senate that he bills' rates are in line with those of other states having a net income ax. McArtlmr Votes Aye. The vote on the Shangle amendment was as follows: . Ayes -- (241 -- Aschenbrenaer, Beardslcy, Beatty Bennett, Booth, Calhoun, Garden, Coykendall, El- hon, Hill, Hopkins, Hustcd, Klemme, "-.eo, McArthur, Miller of Jones, Mul- ianey, Nelson, Patterson, Ritchie, Shangle, Stanley, Stevens of Wapello, and Tripp. Noes--(25)--Anderson, Baldwin, Byers, Chrystal, Doze, Frailey, "eske, Harrington, Hlcklin, Hush, Irwin, Kimberly, Knudson, Meyer, Wilier of Buchanan, Moore, Pendray, Reese, Roelofs, Schmidt, Stevens of Decatur, Topping, Valentine, Wen- uer and Wilson. Absent or not voting--(1)--Fisch. House Hits Snagr. Th'e house struck a snag' in consideration of a bread weight bill. The bill sponsored by the agriculture committee is designed to meet court objections to the present law which was declared unconstitutional, committee members said. The measure would make the minimum standard weight one pound instead of one-half pound ad would eliminate any tolerances in the fixed weight. It also provides that bread coming- Into the state shall be weighed either at the state line 01 at the first point of stop for sale nr delivery. The weight of 15 loaves taken at random would determine whether it met the state's requirements. Representative Johnson of Linn opposed the entire bill, but especially the section regarding weight of bread from out the state. Put Tip Wall. . "We should not put up a wall to keep out the products of other states, else they'll put up walls to keep out ours," he told the house, Johnson then moved to eliminate this section, which, however, found a number of supporters. Representative Sours of Floyd said that the Town bakers should have protection by making bread manufactured outside the state conform to the state laws. By a vote of 50 to 47 the house tabled a printing committee bill repealing that part of the law on uniform schools accounting which requires the state printing board to prepare forms approved by the state department of public instruction and sell them to school districts at cost. Strike Umlt Fe^t'ire. The senate today had stricken from the interim committee tax bill a tax limitation provision which the house had inserted In passing the measure last week. Elimination of the provision was accomplished through the adoption, by a vote of 32 to 16, of an amendment proposed by Senator Homer Hush of Essex. The section provided that the total levy of a taxing district in dollars might not be increased in any year by a greater percentage than the perecentngc increase in assesed valuation of property. It exempted levies for bond principal and intrest and provided for granting exceptions on appeal to the state comptroller. Defeat 2 Substitutes. The senate yesterday also defeated two attempts to substitute graduated retail sales tax rates for the flat two per cent of the bill, rejecting one proposal by Senator Roy Stevens of Ottnmwa by an 18 to 30 vote, and another by Senator Tripp by a 23 to 26 vote. The Stevens amendment proposed a levy of 1 per-cent on gross sales up to 575,000, lii per cent from 575,000 to ,fT5Q,000, and two pel- cent on more than $150,000. Senator Tripp's amendment proposes rates of H~ of one per cent on up to $25,000, one per cept on sales between .$25,000 and SRO.OOO, !',£ per cent between ?50,000 and IN DAY'S NEWS Here Is M. Fcdoseemko, noted soviet aeronaut, \vho, with two other soviet balloonists, established n new unofficial world's altitude record by ascending 12.48 miles into the stratosphere In a surprise hop from Moscow and was killed in landing. $100,000 and two per cent on sales n excess of $100,000. To Construct Armory. Suspending their rules both louses yesterday took up anc massed a bill to enable the city of Dttumwa to proceed with construe :ion of an armory-coliseum as PWA project. Senator Stevens explained thai he had been advised by Washington officals that it was necesary to pass the bill in order to permit th :ity to obtain a PWA grant for the work. It was found that under tin Iowa law river front commission: to construe grants thii have no authority buildings, so the bill authority. STOCKS APPLAUD DEVALUATION ACT (Continued Front Pngc 1) and scores of issues reached the! best prices in two years or longer, Commodities, however, were les aggressive. Wheat opened moderate ly higher but met realizing. Cotto succeeded in establishing new high for the season on gains of aroun 50 cents a bale. Dollar About Steady. LONDON, Feb. 1. .T)--The ne American dollar, HE value fixed : 59.06 cents by President Roosevcl closed at 4.97%-to the Britishjppun today after the most tense Bay i many months in the London mone market. THe closing quotation was only ? of a cent to the pound weaker tha yesterday. Withstanding all the influences o a monetary situation bristling wit uncertainties, the London marke quickly adjusted its rate to the nev gold price. Pardon issue d for Four Americans in Palma Assault Cas MADRID, Feb. 1. (.-PI--Ambassa dor Claude G. Bowers of the Un Led States was informed today tha the sixth section of the suprem court hud approved a pardon Eo four Americans held in jail in Pa ma, Mallorca, for assaulting a civil guard. The Americans are Mr. and Mrs. Clinton B. Lockwood of West Springfield, Mass., Roger F. Mead of New York, and Edmund A. Blodgett of Stamford, Conn. Ambassador Bowers was informed that the full court would act soon as the pardon from the jail sentence of six months and a day. ADMIT GERMAN EQUALITY CLAIM Jritish Offer 10 Year Plan for Accomplishing Arms Reduction. LONDON, Feb. 1. (/T)--Great ritain's newest disarmament pro- osal to other nations is a 10 year Ian, recognizing Germany's claim o equality In arms and adding al- itional security proposals. The chief provisions of the British Ian are: 1. Security--Three further art- cles are added to the original Jritish draft; 2. Equality of rights--A principle egarded as important as security; 3. Actual disarmament -- Reduc- lon in arms of the heavily armed atlons. Security Is Essential. The British proposal, which was irculated in the form of a niem- randum to the chief powers con- erned several days ago, was made tiblic last night. "His majesty's government," said he memorandum, "Do not hesitate o declare that the principle of the quality of rights is no less essential n the matter of armaments than the irinciple of security--both must lave their practical application if an international agreement about armaments is to be reached." The memorandum puts the final emphasis on Great Britain's view that the return of Germany to Geneva and to the league of nations should be an essential condition of an agreement." Tvvo Courses Open. The choice facing Europe, says :he memorandum, lies between two courses: Either to reach an agreement in a convention which will involve the abandonment of certain classes 01 weapons by the most heavily-armed powers, or to reach an agreemen on a basis that the most-heavlly armed powers, while unable or unwilling to disarm, will at any rat' undertake not to incrcase-thcir pre sent armaments. Great Britain urges other governments to follow the first course suggested. Three Other Articles. Declaring that Great Britain considers the first four articles of its draft of a convention bearing on security as of great importance, the memorandum suggests an addition ot three other articles which would provide: 1. The declaration that the local execution of the convention is a matter of common interest to its signatories; 2. Providing for immediate consultation in the event the permanent disarmament commission reports a failure by one of the parties to execute faithfully the terms of the convention; 3. Defining- the object of such consultation as to exchange views as to steps to be taken. SEEK SOLUTION IN LINDBERGH CASE (Conllnued From Page 1) mark which Chicago police interpreted as meaning that Kcenan suspected Sankey of having a part in the Lindbergh affair. Sankey was laKen without a struggle. He was unarmed, but several pills, believed to be poison, were found in his possession, ami Purvis said that the prisoner seemed dejected and had remarked that he was sorry he had not swallowed them. Later, in the captured man's apartment the investigators found a in box containing $3,200 in $100 bills, |200 in ?20 bills, and $30 in $1 bills. Woman Arrested. A woman, who said she wns Helen vfatern, but who denied she knew Sankey's true identity, was arrested for questioning. Although Purvis declined to disclose what questions were being put to the captive, it was learned that none of the bills found in his apartment or on his person was identified as part of the ransom money which Col. Charles A. Lindbergh had paid. For two weeks the barber shop at 4823 North Damcn avenue, where Sankey was found had been under surveilnnce, after the investigators had learned that Sankey had been receiving his mail there under the name of "W. E. Clark." Yesterday when he appeared for a shave (he electricity of four moles) he was seized without difficulty. Xo Definite Link Known. TRENTON, N. J.. Feb. 1. (/I'l-- Jiaj. Charles H. Sclioeffel, deputy superintendent of the New Jersey state police, said today no one would be sent to Chicago to question Verne Sankey about the Lindbergh :sklnaplng- case until federal agents there Indicated they were not satisfied with Sankey's story. "We will sit tight," Schocffcl said, 'until we are nsketl lo send out a man. As yet we have not been officially notified by Chicago authorities of the arrest," Sehocffel said he knew of no definite clews to link Sankey with the case. Mrs. Snnkev In Jail. SIOUX FALLS, "s. Dalr., Feb. 1. .T)--Mrs. Fern Sankey. wife of the notorious kidnaper arrested yesterday in Chicago, was in jail here today in lieu of $25,000 bond, having been seized at tXe Sankey ranch near Gann valley early this morning; after receipt ot information that her husuaml had been apprehended. Mrs. Sankey, under indictment for conspiracy in the Charles Boettcher, IT, kidnaping, has been at liberty under $5,000 bond since last June. She has been living on a ranch where the wealthy Denver kidnap victim wafl held captive for 16 days last February. Olaf Eidem, federal district attorney, said Mrs. Sankey was taken EXPECT BREMER FREEDOM SOON Kidnapers Likely to Try to Collect $200,000 in Ransom. ST. PAUL. Feb. 1. /P--A belief that the kidnapers of Edward G. Bremer would move soon to collect a $200,000 ransom and free the 37 year old St. Paul banker now that the attention of city and county authorities has been directed at Verne Sankey in Chicago was expressed torlay by friends of the Brcmcr family. Absence of Charles Tlerney, inspector oE detectives, and M. F. Kinkead, Ram-soy county attorney, who arc in Chicago, was believed by friends of the family to be definite assurance to the abductors of the Commercial Stale bank president that peace officers would keep u "hands off" policy and thus permit negotiations between the gang and the family. Bremer was kidnaped Jan. 17, hadn't hud one for days because his into custody as a precaution against face was sore due to the removal by ' her possible flight. Mo (her Dies In Texns. ELMA, Feb. 1.--Mrs. Henry Cook was called to Huston, Texas, by the serious illness of her mother, Mrs. Rogers, who died yesterday. The body will be brought to Battle Creek, Iowa. Six children survive. Emma Goldman Back "Home" After Her 1 5 Years Lived in Exile NIAGARA FALLS, N. 1'., Feb. 1. (.T)-- Emma Goldman, America's most notorious anarchist for almost a generation came "home" to the United States today from a 15 year's exile. She entered from Canada, crossing the international bridge here at 10:50 a. m. Miss Goldman, now 64, was exiled from the United States in 1919 for her radical activities and has spent the past 15 years wandering and lecturing in foreign lands. Through- cut these years she has constantly sought to return to the United States and K. few weeks ago the labor department granted her permission to re-enter. She left Toronto this morning cn- routc to Rochester to visit relatives. Body of Man Found Killed In Alley n Chicago Identified CHICAGO, Feb. 1. /B-- The body of a man found ahot to death In a suburban Cicero alley was identified today by police as that of William Evans, suspected killer and bank robber and a former lieutenant of the late George (Red) Barker, gunman. The body was found late last night, punctured with revolver bullets and shotgun blasts, and police said they were investigating the slaying as having a possible connection with the killing of William (Three Fingered Jack) White a week ago. Traylor Continues to Show Improvement CHICAGO, Feb. 1. (.n--Continued improvement was noted today by physicians of Melvin A. Traylor, president of the First National bank, In his fight against pneumonia, after a second injection of a serum made from blood provided by Mrs. Traylor. Sherman Will Leaves $ 100,000 to Grinnell LOS ANGELES, Feb. 1. With a valuation of 53,3-12,890, the will of Gen. Moses H. Sherman who died Sept. n, 15)32, left 5100,000 to Grinnell college and a $100 monthly income to a nephew, Leo P. Sherman, Grinnell. CRASH AT MANLY (Continued From I'age 1) own family and to associates at the utility company offices, where she had not only demonstrated her efficiency, but had become a. favorite both in activities of the office, as well as in social events of the organization. Miss Sullivan was a member of the St. Rita's society and of the Holy Family church. She is survived by her parents and two brothers, Robert and Billy, both of whom live at home. The body of Miss .Sullivan was .brought to the Meyer funeral home. Plans for the funeral had not been completed, but members of the family stated it would likely be Saturday morning. The body of Mr. Ruppert was taken to his home at Jordan, Minn. No "New Deal" Needed for COUGHS or COLDS Buckley's Satisfies Everybody BUCKLER'S MIXTURE (triple strength) is still supreme when it comes to dealing a knockout blow to coughs, colds, or bronchitis. Every day brings unsolicited testimonials that no other remedy is so safe, so dependable, so lightning fast In action. Coughs and colds relieved with one dose--banished with two--bronchitis of many years standing completely relieved with one bottle, is the story they tell. Make sure of relief by taking BUCKLEY'S. It acts like a flash--A single sip proves it. ·i.'jc and 85c at Frank Huxtable Drug Co., and all good druggists -- guaranteed. THE FIRST OF OUR DURING THE COMINGYiAR Thfs full pinf oF RU3BENG ALCOHOL and any one of these lour items You must buy the alcohol compound to get this offer but you choose any one of the other four items. Mi 31 corrects bad breath. Rexall Milk of Magnesia neutralizes acid stomach. Hexillana relieves your cough, both fop P u r e t e s t A s p i r i n gives you quick relief from pain. COD LIVER OIL Cream of the world's finest cod liver oil supply. Richest in Vitamins D and A! 16 oz. M E R C U R O C H R O M E Does not cauae irritation or blistering. Keep on hand always. Take ait cl your NOSE and THBOHT Mi 31 kills dangerous nose and t h r o a t g e r m s quickly. LIFT CORNS RIGHT OFFI No need to let corns irritate. CORN SOLVENT Filled with VITAMINS ... children eat it like Jam! Tastes like honey, filch in Vitamins A, B, (F and G) and D. Specially processed extract of malt with cod liver oil. 16 oz. Defender Atomizer and Mi 3151.25 Solution value C A S T O R O I L Fresh and full strength. 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Firstald SANITARY NAPKINS 4 -y box of 12 A I c KLENZO FACIAL i, TISSUE i\ Modern way to remove I*, faw; creams. Soft, dainty. ZINC OXIDE OINTMENT ono ounce tube Tincture IODINE The safe, sure antiseptic. lew. Here's a dandy combination. S T A G B A Y R U M SHAVING CREAM ond BAY RUM both 75c value 'or lOc BAR PALMOLIVE SOAP, f o r . 5c RIKER'S ILASOL 25c size CHARMONA TALCUM generous can J,«fc KLENZO DENTAL CREME small T ]r j, 29c Cherry Bark Cough Syrup 39c 7 ounces 16-OZ. BOTTLE RUSSIAN M I N E R A L OIL The Slickest Shave ever hodl Smoother shaves and Man ahavea with those blades. Permedge R A Z O R B l A n F S L. tt U C. 3 ««ir/blad« cf 5 1 pkgi. SALE FEB. 1 TO 17, INCLUSIVE CASEY DRUG CO. I'lione SO

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