Dayton Daily News from Dayton, Ohio on March 4, 1933 · 1
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Dayton Daily News from Dayton, Ohio · 1

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Saturday, March 4, 1933
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Tiiii WHATIIIiR: Cloudy tonight; Sunday fair, slowly rising temperature. Detailed WeatlMt Report oa Pig 12. BAYTON DAILY NEW HOME EDITION ONLY AFTERNOON PAPER IN DAYTON RECEIVING ASSOCIATED PRESS SERVICE VOL.LVI. NO J 94. DAYTON, OHIO, SATURDAY, MARCH 4. 1933 PRICE TWO CENTS SCRIP PLAN IS ADOPTED FOR DAYTON iflSOfELT I SAYS 10 UK WMHIE NffiB IF NECEKKY, HE H GIN OF OFFICE OF PKSIDEnT SAY TEMPORARY MEASURE WILL SPUR BUSINESS Trade Leaders of City Give Approval of Banking Proposal. ISSUE EXPECTED TO START WEDNESDAY Half of Dormant Deposits Can Be Drawn in Certificates. A scrip plan designed as & temporary expediency in the present local financial situation was adopted at a general meeting of business men in the Dayton Chamber of Commerce Saturday morn-in. . Sponsors of the plan estimated that approximately $5,000,000 would be released immediately for circulation. This will be of material assistance in meeting pay rolls, Vhich in some instances have been passed, and paying other obligations which nave accrued during the past week due to the banking situation say sponsors of the project. The plan is the outcome of a series of meetings which have been held during the past 36 hours between a committee of the Chamber of Commerce and the Dayton Clearing House association, in which this plan was devised. In brief, the plan provides for the issuance of scrip for general circulation locally in an amount equal to 50 percent of the net deposits now impounded in the three national banks here. Under the plan the depositor will sign his net dormant account to the clearing house association as security and in turn receive half of that amount in scrip. In ofer words an account of $5000 would be eligible to have serin ir. the amount of $2500 issued against it The clearing house association will issue the scrip paper and it is expected it will be accepted generally locally in lieu of money. The plan- stressed the fact that no depositor would be forced to accept the plan, but that his participation in it would be, entirely voluntary. After the plan had been approved at the meeting petitions were signed by those attending requesting the clearing house association to inaugurate this method. Upon receipt of a sufficient number of them, the clearing house officials will start the mechanics of putting the plan in operation. As this scrip is only for temporary relief it will be redeemed as the hanks release additional amounts of the impounded money, the same as they did when banking business was resumed last Wednesday morning and depositors CONT1NI ED OK fAGB THRRE CENTRAL FIGURES IN CEREMONY BEGINNING "THE NEW DEAL" ' i ' irx 11 i i Zrv' I f fv 'l H&feag : t - v S f ' ' V Pclr f I Si ' y ' "' ' ' ' " " ' "' ' '''''' ILLINOIS AND NEW YORK ON BANK HOLIDAY Moratorium of Two Days Is Declared by Gov. Lehman. Chapter Used For Oath Is Familiar One WASHINGTON', March 4 W -The chapter in Paul's First Epistle to the Corinthians where Frnnklin D. Roosevelt chose to place his hand today on taking the oath of office is one of the most familiar in the Bible. , It is chapter 13 and contains v 13 verses. Five of those which probably are most frequently recited are: "Though I speak with the tongues of angels and have not charity, I am become as sounding brass, or a tinkling cymbal." "And though I have the gift of prophecy and understand all mysteries and all knowledge; and though I have all faith so that I could remove mountains and have not charity, I am nothing." "When I was a child I spake as a child, I understood as a child, I thought as a child; but when I became man, I put away childish things." "For now we see through a glass darkly; but then face to face; now I know in part; but then I shall know even as also I am known." "And now abideth faith, hope, charity, these three; but the greatest of these is charity." PRESIDENTIAL OATH ! TAKEN BY ROOSEVELT WASHINGTON. March 4.-W -The oath prescribed for Franklin D. Roosevelt today to induct him into the office as president of the United States: "I do solemnly swear (or affirm) that I will faithfully execute the of- fice of president of the United States, and will, to the best of my ability, preserve, protect and defend the constitution of tha United States." WASHINGTON, March 4. .T) Bank holidays spread rapidly over New England and the middle west today bringing restriction on deposit withdrawals to most of the country. Only eight of the 48 states remained unaffected at midday. Two of these, Delaware and North Carolina, had taken legislative precautionary action to be prepared for emergency. The other unaffected states were Montana, Colorado, North Dakota, South Dakota, South Carolina and Florida. New York and Illinois joined the holiday states almost simultaneously with the issuance of gubernatorial proclamntions in the early hours of the morning. Missouri, Iowa, Rhode Island. Massachusetts, Maine, New Hampshire, Nebraska, Pennsylvania, Vermont, Connecticut and Minnesota followed in quick succession. The Federal Reserve banks of New York and Philadelphia followed the action of their states. The Federal Reserve closing checked withdrawals of gold by both domestic and foreign agencies. The New York Stock Exchange and the cotton exchange also closed for the period of the holiday. Representative Rainey of Illinois, speaker in the next congress, predicted that an extra session of congress would be called "at the earliest possible time," and added that next week "would not be too soon." Meanwhile, senate Democrats were preparing an emergency banking program for immediate consideration of the probable extra session. The London exchange suspended CONTIM EI ON PACK THRI.K 12B CONGRESS PASSES; MANY TASKS UNDONE Two Appropriation Bills Left to New Body of Lawmakers. WASHINGTON, March 4 President Franklin D. Roosevelt, inaugurated today amid scenes of colorful pageantry, is shown at the left with Mrs. Roosevelt. At the right are Vice President and Mrs. John N. Gamer. Gen. John J.' Pershing (center) was accorded the . honor of leading the inaugural parade. TEXT OF ROOSEVELT INAUGURAL ADDRESS WASHINGTON, March 4.-CP One brief legislative action today, the completion of formalities and the 72nd congress became history with many of the tasks it set for itself undone. Unreconciled differences left two appropriation bills for the new congress scheduled to meet within the next few days. They were the $30,800,000 for the District of Columbia and the billion dollar supply measure for independent offices which carried founds for payments to veterans. The district bill failed to get through and President Hoover refused to sign the independent offices measure, saying in a curt statement that it had been raised $130,900,000 over his recommendations. The chief executive also refused to approve the Smith cotton bill. Its death signallized the almost complete failure of the lengthy program of farm tid which the congress outlined when it met last December. President Hoover's last minutes in office were busy ones. Arriving at the Capitol with the president-elect, he went immediately to a room where bills rushed through in the closing hours awaited bis signature. Before his departure from the White House he had signed the $308,669,000 supply measure for the war department. With the passing of the 72nd congress, marked by the submission of prohibition repeal to the states, the voting of freedom for the Philippines over President Hoover's veto, and emergency relief legislation, many veteran Republicans turned to private life to CONTIM ED ON PAGE THREE "WASHINGTON,- March 4. JP The text of President Roosevelt's inaugural address follows: "I am certain that my fellow Americans expect that on my induction into the presidency I will address them with a candor and a decision which the present situation of our nation impels. "This is pre-eminently the time to speak the truth, the whola truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. This great nation will endure as it has endured, will revive and will prosper. So first of all let me assert my firm belief that the only thing we have to fear is fear itself nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. "In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days. In such a spirit on my part and on yours we face our common difficulties. They concern, thank God, only material things. Values have shrunken to fantastic levels; taxes have risen; our ability to pay has fallen; government of all kinds is faced by serious curtailment of income; the means of exchange are frozen in the currents of trade; the withered leaves of industrial enterprise lie on every side; farmers find no markets for their produce; the savings of many years in thousands of families are gone. "More important, a host of unemployed citizens face the grim problem of existence, and an equally great number toil with little return. Only a foolish optimist can deny the dark realities of the moment. "Yet our distress comes from no failure of substance. We are stricken by no plague of locusts. Compared with the perils which our forefathers conquered because they believed and were not afraid, we have still much to be thankful for. Nature still offers her bounty and human efforts have multiplied it Plenty is at our doorstep, but a generous use of it languishes in the very sight of the supply. "Primarily, this is because the rulers of the exchange of mankind's goods have failed through their own stubbornness and their own incompetence, have admitted their failure and abdicated. Practices of CONTINUED ON PAGE TWO More Restricted Life Facing Mrs. Roosevelt GERMANY TO VOTESUNDAY Sixth Major Election Campaign in Year Brought to Close. WASHINGTON, March 4. UP) Eleanor Roosevelt, who as a girl and later as a young married woman watched two inaugurations from the side-lines, today was a cent'-al figure in a third one whicn placed her husband in office as the thirty-second president of the United States. For Mrs. Roosevelt the day markfd the interruption of a full and nctive private life and the beginning: of possibly an equally active but more restricted public life. Her program was filled today. Her most important task was to receive at the White House late this afternoon, following the inaugural parade, more than 2000 guests. AlihouRh Mrs. Itoosevclt's activities were considcrablv curtailed because nf the death Thursday of Sena: or Thomas J. Walsh, who wa to hae been a member of her husband's cabinet, she decided to have the reception because many of those invited might not be able to visit Washington oon again. She will go to the Inaugural ball for a short time tonight too, be cause after it was announced that she would not attend many tickets to ths ball, a charity affair, were turned back. In making this decision finally she was influenced also to a great extent by members of the Walsh family, who insisted that the senator would not have wanted any of the inaugural festivities cancelled in deference to himself. Mrs. Roosevelt's crowded Inaugural schedule called first for a service in the chapel of St. John's Episcopal church, on Lafayette square, across from the White House, for the incoming president, his cabinet members, ana his secretaries and their families. Next was the ride with Mrs. Hoovf r from the White House along Pennsylvania av. to the cap-itol. After that, the inauguration, the ride back to the White House, a family luncheon, and the inaugural parade. Tonight she will have one unofficial engagement before proceeding ti the inaugural ball. At the White House the Roosevelts will entertain Tl of their relatives at a buffet supper. I BERLIN, March 4. UT Ger-I many's sixth major election in a fyear will be held tomorrow with pro-Hitler appeals ana aemon-strations monopolizing the campaign wind-up. Iron decrees shut off electioneering by the two main opposition parties, socialists and communists. While Chancellor Hitler and his cabinet members made last minute promises that reichstag and Prussian diet elections will mark the dawning of a new day, former Chancellor Heinrich Brucning, the Centrist lender, saw Germany being plunged into darkness. Hitler's determination to retain control, whether he wins or loses in the balloting, apparently climi-, nates possibility that the actual voting will determine Germany's future but both sides see danger that the day may only serve to aggravate the incipient civil war of the past two months. Dr. Brucning got in a late appeal to President Von Hindenburg to "protect the suppressed from the oppressors" while Hitlerites recognized the factor of force in enrolling Nazis and steel helmet war veterans as police and by the wholesale arrests of communist Hundreds of the jailed communists will lose their votes whether the Nazi threat to throw out their party's ballots Is carried out or nqU ' ' 4' SIX HURT IN BUS ACCIDENT Cincinnati-Lake Erie Con veyance Goes Into Ditch Near Ginghamsburg. GINGHAMSBURG, March 4.-Six persons were cut and bruised when a Cincinnati & Lake Erie bus, en route from Lima to Dayton went into the ditch, along the Dixie highway, near here at 9:15 this morning and struck a culvert The driver of the bus. Ray L. Peinert, Tippecanoe City, was not injured. The accident is said to have been caused by the blowing out of a front tire. The injured were: Miss Estella Conrad, 139 Mc-Kaig av., Troy, possible fracture of nose and facial cuts and bruises. William Howe, N. Milberrv St., Troy, bruised about face and body. A. A. McKinnon, facial bruises. Lottie McKinnon, bruised and cut. Ted Beam, Tippecanoe City, bruised and cut. Mrs. Fred Lightheiscr, mother of Naomi Lightheiser, and her daughter Nancy, also were on the bus, but pscaped injury. GETS HOTEL POSITION COLUMBUS, March 4. (P 'Hershie Mowrey, former Columbus newspaper man, today was named executive secretary of the Ohio Hotels association. The organization is made up of some 250 hotels in the state. JEHOL DRIVE : JAPS TAKECAPITAL Planes Scatter Chinese as Invaders March Into City. CHINCHOW, Manchuria, March 4. -UF While one Japanese brigade marched into Jehol city (Chengtefu), capital and chief city of the province of Jehol, this morning, another pushed southward from Lingyuan and occupied Lengkow pass in the Great Wall of China. The wholesale flight of Chinese to passes south of both Lingyuan and Jehol city was viewed by the Japanese as meaning the virtual end of the military campaign which began unofficially on Feb. The 16th infantry brigade under Mai. Gen. Tadashi Kawahara marched into Jehol city, last stronghold of the Chinese, at 11:30 a. m., a half hour after a motor corps reached there. Bombing planes preceded them, scattering the Chinese. Meanwhile, the vanguard of the 14th infantry brigade under Maj. Gen. Heijiro Hattori, which went into action south of Lingyuan, pushed right to Lengkow, an important pass into the central section of North China. This placed his troops directly on the northern boiaer of the Peiping-Tientsin area of China proper, where foreign observers believe the Japanese campaign will inevitably turn. It WA3 learned at the Japanese base heie that a majority of the Chinese troops formerly at Lingyuan and Pingchuan, cities captured earlier this week by the Japanese, tied directly southward instead of west to Jehol city. At noon today, these Chinese forces bygan pouring through the Great Wall passes of Fanchiakow, CONTIM'ED ON PAGE THREE BANK GUARANTY LAW IS STUDIED BY GOV. WHITE Brlcker Works on Bill For Scrip to Meet State Obligations. COLUMBUS, March 4. WP A state bank guaranty law for Ohio may be recommended to the legislature next Wednesday by Gov, George White. It would place the guarantee of commonwealth itself behind every dollar deposited in a state bank since the majority of Ohio fi nancial houses clamped restric tions on the withdrawal of old deposits. Meanwhile, as a more temporary solution to the perplexing problems growing out of the curtailment of banking activities, At torney General John W. Bricker worked today on a bill to authorize an issue of scrip to meet the pay rolls of state employes as well as other obligations. Business men and mankers in virtually every community attempted to devise a similar local medium. Gov. White's study of the existing difficulties have not convinced him a state bank guaranty law is advisable. He disclosed at Washington where he is attending the inauguration of Franklin D. Roosevelt as president, however, that he has a recommendation for such a law under serious consideration. It would guarantee the repayment to depositors of all money placed in the state banks sinca the legislature permitted them to limit withdrawals but necessarily would not attempt to obligate the state for repayment of moneys deposited before enactment of the restrictive measures last Monday night. The governor's interest in governmental guaranty of bank de- C0NT1NI ED ON PAGE THREE EARLY SESSION PART OF PLAN TO FIGHT CRISIS Must Be Provision For Adequate But Sound Currency, He Declares. RECORD CROWD AT NATIONAL CAPITAL Program Follows With Small Deviation From Past Customs. The Daily Washington Merry-Go-Round BY DREW PL ARSON AND ROBERT 8. ALLEN Alice Gets Delayed Bid to Roosevelt Family Party; She Strongly Opposed Cousin Franklin' Election; Farley Ignores Sen. Robinson's Protest on Jobs; No Patronage Until Roosevelt Plans Approved. WASMXGTON, March 4.-guest at the large Koosevelt House today who, while Sure hardly consider the occasion a For a quarter of a century,; Alice Roosevelt Longworth was Washington's most exclusive matron. Personally, the most charming and witty of women, she was aloof in the outside worlld. People were glad to seek her out. She never sought them out. Occasionally, "Princess Alice" would permit a photograph. But she never gave an interview. The presidential campaign of 1932 wrought a great change in "Princess Alice." A distant cousin whom she had long disliked was nominated as Democratic standard-bearer. Although still adhering t ner rule not to gi newspaper inter There will be one prominent family reunion in the White to be gay and, vivacious, will personal triumph. views, Alice rushed into print with a signed article in a national magazine. "Cousin Franklin is onlv a verv remote relative," she warned. "Vote for Hoover," was her urtrent counsel. Shattering other precedents, Alice took the stump for the Republican administration, patiently stood in the receiving line at a special political gathering, shooK hands with several thousand curious women who flocked to gape at her. But now it is different As part of their personal inaugural celebration the president- COM1MED ON PAGE THRtrf WASHINGTON, March 4. W President Roosevelt, in a momentous address immediately after taking his oath today, told the nation he would ask for war-time powers if necessary" to meet the national emergency. The newly inaugurated president said he would call the new congress into special session to carry out his planned attack on the crisis, saying "We must act and act quickly," but he did not reveal when the session would be called. Among the policies outlined by the nation's new leader was that there must be provision for an adequate but sound currency. Even as the inaugural ceremonies were beginning, the new president was applying all his energy to a reconstruction of the banking situation, with a prospect of far-reaching action before his administration was many hours old. As he conferred with his chosen advisers at his hotel suite, Herbert Hoover, a half mile away in the White House was ending his four troubled years of office, at gripa with the same problem. The whole inaugural scene was overcast with a feeling of suspense and tense expectancy. . For the Inaugural Day March furnished a day a little too cool for comfort in the far-spreading reviewing stands along Pennsylvania av., but thousands assembled early nonetheless, making certain to miss nothing. The morning skies were dark, but the weather bureau promised clearing. Mr. Roosevelt, up late last night, in consultation with members of his cabinet, was not yet astir in his suite at the Mayflower when the first of his advisers called this morning. He slept until after i o'clock, then breakfasted with Mrs. Roosevelt on grapefruit, soft-boiled eggs, toast, marmalade and coffee. Mr. Hoover was up early, but cancelled a scheduled last meeting of the medicine ball cabinet and went instead to the White Housa office of the presidential physician for a final physical check-up. Dr. Joel T. Boone pronounced him "in excellent condition, better than when he entered the White House." Already the first groups had taken places on the immense plaza C0.TI'UED O.N PAGE TWO White Asserts He Won't Call Bank Holiday WASHINGTON. March 4. '-ft .finv. Oporire White of Ohio. here for the inaugural ceremonies does not intend to call any form of a bank holiday. The Ohio executive stated emphatically he has no intention of declaring a banking moratorium and intends to allow banks to re main open. "We anticipated this three weeks ago," the governor said. "Ohio passed permissive legislation lor banks whereby they were permit ted to place a restriction on de posits. "They can go as low as one per cent of their deposits. That's their cyclone cellar and if they prefer they can crawl into it "But and you can say this emphatically there will be no banking moratoriums or holidays." Gov. White, his daughter, Mary Louise, and his two aides, Capt. Kenneth Kerr of the Ohio National Guard and Lieut. J. A. McNamara of the naval reserve, left their hotel shortly after 10:30 to take part in the inauguration. Will Rogers Say BEVERLY HILLS, Cal., March 4. Bankers, this moratorium you have asked for everybody is joining in good faith, and with fine spirits. The ones that had a little money have taken as their example the unemployed who have grinned and took it on the chin all this time. While being the victim of our country, the unemployed have been a credit . Now the bankers say, if we will bear with Vm, they will work it out. Everybody is doing what the bank 'ers ask, but remember, i$ey are watching you

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