Hope Star from Hope, Arkansas • Page 1

223 ftft HOPE, ARKAKto MONDAY, JULY 6, 1081 RENCH DEBT ACCORD Wizard of Tennessee Is to Serve 3 Years Nashville Crash 'Broke' Hiffldreds of Banks in South Collapse Followed By Crashes in Kentucky and Arkansas JURY PICKS LEADER DeWitt Carter's Story Fixed Blame on President of Caldwell Co. tfASHVlLLE, MP) Rogers Coldwell, former, head of the huge In- 1 vestment banking house of the same name nnd power in Tennessee's finances and politics, was convicted by criminal court jury Monday on a charge of fraudulent breach of trust, He was sentenced to not more than three years in prison. The indictment alleged that Caldwell substituted securities for less for other collateral pledged to secure deposits of Hiirdermin county, the proceeds of the sale of a county road bond issue. Bonds Removed Evidence introduced nt the trial showed that the terms of the trust agreement between Hardeman county arid the-Bank'of Tennessee, the Cald- SyWell requlrud county' Arkansas Car Deaths for Six Months 101 LITTLE fatalities in Arkansas during the first six months of this year totaled 101, compared with ill during the corre- sopndlng period last your, the Arkansas state chamber of commerce reported Saturday. Fatalities by months this year, compared with corresponding months Inst year, were: January 17 and 10; February, 16 and 16; March 13 and 17; April, 21 and 24; May, 19 and 20; June, 15 nnd 14.

A. Banks Guilty, Is Given One Year Arkansas Banker Convicted After 2 Hour Deliberation bonds of equal stability. was not disputed by the defense that the collateral wns replaced with industrial bonds, which subsequently depreciated in value, but the defense maintained that Caldwell did not order the substitution, and wns not in fact aware that it had been made. DeWitt Carter, a vice-president of Caldwell and the man whom Caldwell sent Into Arkansas to complete negotiations with A. B.

Banks Co. in 1929, was a witness for the stale, explaining that when Caldwell Co. were hard-pressed, and the high-grade municipal bonds had been replaced with low-grade insutrials, he called attention of Caldwell to the fact that the trust greemcnt with Hardeman county had been violated. Cnldwcll Was Told Calrtwell Co. were unable to pro- 5cure additional municipal bonds to fl Tovor the trust agreement, Carter tes- )'lifted, and he dclcarcd that when Caldwell learned of this condition he said "the responsibility for this remains on my head." Caldwell denied Carter's story, when testifying in his own defense, Caldwell attorneys upbraided Carter with having turned rhan "whq'furnr ishcd his bread arid b'utier," to which Carter retorted that he had "sunk everything Caldwell" and had only' 1 produced liis banking prds in order to protect himself "from the very kind of prosecution that is being shifted on me now." Caldwell with a valuation of $45,000,000 two years ago, was rated ns the greatest investment house in the South.

Its slogan, "We hank on the South," was nationally known. Its crash caused the collapse of the Banco-Kentucky at Louisville', the Bank of Tennessee, the Holston-Union Bank and numerous others in Tennessee, and A. B. Banks Co. in Little Rock, operating 48 banking units and three insurance companies.

Mr. Banks was tired in Little Rock last week for accepting a deposit in un insolvent bank, and convicted Saturday, receiving a sentence of one year in the penitentiary. Fail to Be Asked To Begin Sentence Cove rnment's Attorneys 4 Will Petition Washington Court Tuesday counsel will appear before Justice I Bailey of the District of Columbia supreme court Tuesday morning to ask lhat Albert B. Fall, former sec- rc'ary of the interior, be brought here at once to begin his jail sentence. Fall was convicted of accepting a bribe for the leasing of naval oil reserves by Edward L.

Doheny, American oil magnate. of sentence has been delayed by claims that Fall was in serious 1.. tV'll. IjuV.XA v'l, 1'uU Cl'il- ijjiu.A. 1 tlxrouijh the vvinUr und LITTLE UV4 hours deliberation a jury in Pulalski circuit court Saturday found A.

B. Banks guilty of accepting a deposit in an insolvent bank nnd sentenced him to one year's imprisonment in the penitentiary. The conviction defect! six days of voluminous tostimonjvconcernins the American Exchange'Trust company, Mr. Banks'. institution' against which crimlna.l.

charge was brought, and, 4" assoc.latqd,; banks out in the state, most ofrviftljbh suspended wttjjjwgiggarcnt institution after Mr. Banks' conviction was a personal triumph for Carl E. Bailey, prosecuting attorney of! Little Rock district; and a defeat for United States Senator Joe T. Robinson, chief counsel for Mr. Banks.

Prosecuting Attorney Bailey had a collision with the Pulaski grand jury shortly after the latter indicted Mr. Banks. The grand jury, re-examining some of the witnesses, attempted to rescind its action by petitioning the circuit court to have Mr. Bailey move for dismissal. This, Mr, Bailey refused to do.

When the trial date was set, Senator Robinson for the defense asked the court to continue the case until later in the This also was refused, and trial was started the last week in June, Mr. Banks' defense to the state's charges was that he hnd had revived many insolvent banking institutions and industries, thus performing a public service through most of his career, and that his key bank, the American Exchange, was not in fact insolvnnt on Saturday, November 15. The defense attempted to show that the bank's assets, and the collateral-on many of its loans had depreciated considerably between the time the bank closed and the time that it wns taken in charge by Sam Wilson, liquidating agent for the state. Mr. Wilson was an important state witness, describing the bank's condition as he viewed it on assuming charge when reorganization attempts had failed, about two months after suspension of payment.

To Mr. Banks' defense arguments, the state rctored that the financier used the resources of banks in'one community to revive insolvent banks in another, and that ho so involved the funds of his three insurance companies with the liabilities of his banking houses that two of the companies were forced into bankruptcy while the third had to be taken over by an out-of-statc concern. Following his conviction, Mr. Banks remained at libcry under his original $5,000 bond. An appeal to the Arkansas Supreme Court is expected.

Work of Farm Board Rapped by Lawmaker Evans asserted Sunday "the only people in accord with the federal farm board's handling of its wheat holdings are the members of the farm board itself." "It has been the administration's contention that criticism of the beneficent body under whose manipulation wheat has reached its lowest level in modern history was limited to democratic partisanship by discrediting the board and seeking to smear. President Hoover. "Now the spearhead of farm board criticism is composed of Viee President Curtis, Senator Capper of Kansas, and Senator Watson of Indiana." Since the farm board announced last week it would not sell more than bushels cf its wheat holdings nvnfhtv. thi- ihrei' republicans have modified to keep all the wheat froir In fruir. Die m.jj'ift'l fur llif East Arkansas Is Faced With Vast Foreclosure Suit One and Half Million Acres Attacked By Wynne Attorney HE WANTS HIS FEE Half Dozen Arkansas Counties May Be Forced to Defend Title Evening Appeal says Monday that J.

C. Brookfield, a Wynco advertised 1,588,000 acres of Arkansas farmlands and 20,000 city lots for public sale in an effort to collect a $2366 judgment against the old Harahan Viaduct Improvement District. The Harahan bridge district is now a part of the St. Francis Levee District. The land in question lies In Crittonden, Mississippi.

Cross, Poinsetl, Cruighcad, Lee, St. Francis and Phillips counties. 1 It will be on the auction block unless the taxpayers got an order from Chancellor Futrcll at Faratfould'stop- ping the sale. The chancelor hns issued orders for the sale but told -officers to withhold action while he continues his study of the case, 1he Evening Appeal says. They're Heroes Now Collision Fatal to Young Missourian jured as Auto Hits Truck, Mays Wilson of Hayti, In- Dies at Blytheville of near Hayti, died at a hospital hero late Sunday "from injuries re-, ccivcd in an automobile accident one mile north of Hayti.

Wilson was in a dying condition 1 when brought here with his chest crushed. He and others were riding on the back of a truck, en route to a dance at White City on Haghway No. 61, when a car driven by a Chicago negro struck the rear end of the truck, knocking Wilson to the pavement and crushing him. Officers at Hayti were unable to fiivo the negro's name but said lit is held at Caruthersvillo, where he probably will be charged with manslaughter. Wilson lived at Dry Bayou, five miles north of Hayti.

He is survived by his wife, who was in the truck when the accident occurred. Funeral services will be hald at Hayti. Babcock, Inventor ButterJTest, Dies Discovered Process in 1890 and Gave Patent Right Free MADISON, Stephen Moulton Bakcock, whose test for de- tcrmning butter-fat content of milk is the base around which the modern dairy industry is built, was found dead in his home last Thursday. He was nearing his 88th birthday. Dr.

W. T. Lindsay, the scientist's physician, said the heat wave had aggravated a heart attack. In 1890, Dr. Babcock discovered how to put aeid in milk and swirl it about ir.

tubes on a circular rack so that centrifugal force and chemical action separated the contents. This experiment he gave to dairymen and to the world, with the announcement: "The test is not paltented." It tells dairymen which of their cows is not. producing and dairy men regard it as the basis for the development of high-producing herds. Last fall he received the Capper award of $5,000 and a gold medal for the most distinguished service to agriculture. Gun Stops Alleged Transporters on City Street Sunday Chief of Police Claud Stuart Fire Into the Motor of Car FOUR HELD Are Slightly Injured By From the Officers Gun Vernie Coynes, Earl 'Cornelius.

Jones and Claud Dodson were arrested late Sunday afternoon by Chief of Police Claud Stuart and Deputy Sheriff Allan Shipp a charge of transporting liquprV- On trial before Police Judge tl. A. Gentry Monday mqrriing, Goynes entered a plea of guilty and was fined $50 and cost. the other three were continued until Monday, July 13. The quartet were: stopped 'on South Elm street after Officer Stuart had fired four shots of -buck shot into the hood of the engine.

Dodson 'and Cornelius were slightly injured in the legs by; glancing shots. They were disheveled and red-eyed with weariness; their faces drawn, their clothing spattered with the mud of Germany, Siberia and Canada. But Wiley Post, left, and Harold Catty, right, were heroes of the world they had encircled when this picture was taken at-Roosevelt Field, Long Island, from which they had hopped off 8 days and 16 hours previously. A of some 10,000 persons cheered the two airmen, who are shown in front of their plane, the Winnie Mae, in a hangar at Roosevelt Field. Coin Machines Are Branded Gambling Slot Machines Vending Are Declared Subject to Seizure LITTLE machines which give out tokens at irregular ni- tcrvals and packages of mint for each nickel inserted, were declared Monday by the Arkansas Supreme Court to be gambling devices and subject to seizure.

The decision followed a demonstration of the machines before the high I court a few days ago. I Dierks Seeks to Get County Seat Petition Bearing 1,600 Names Presented to County Judge petition for the removal of the county scat from Nashville to Dierks, bearing approximately i.GOO names of Howard county taxpayers, has been filed at the county clerk's office and will be presented to JuHge J. F. Chesshire when court convenes at Nashville Monday morning. Citizens of Dierks have offered to nvl a courthouse here without cost to taxpayers if the petition is granted.

lul th c.iol!a:-s already have in.i! dt puMU'd in Hoover Entertains Round World Fliers Aviators Are Guests at Luncheon Served at White House NEW (A 3 Two days of rest and relaxation in the quiet of Long Island sound have fitted the world Jliers, Wiley Post and Harold Gatty for a White House luncheon. They were headed back for-New York early Sunday night on the yacht Saelmo, whose William H) Todd, ship builder, has been their host since Friday. For more than hours the two men have been able to sleep, to loll in deck chairs, to fish and to golf. There have been no cheering crowds following them wherever they went. There have been no photographers and reporters trailing them for interviews and pictures.

The only scheduled event on their program Sunday was a stop at Hampton Bays, Long Island, where the entire party, including the fliers' wives und F. C. Hall, backer of the flight, were guests 'for luncheon at the home of former Governor Alfred E. Smith. Sunday night the ship was put in shape for its next hop, a trip to Washington Monday morning, where the fliers and their backers will be guests of President Hoover.

They will return to Barren island late Monday and prepare for the triumphal flight into Oklahoma. NASHVILLE. (JP) As the 67th Tennessee general assembly prepared for a sine die adjournment Thursday, nil Ivjuc of averling an ex- abandoned Ijy Mrs. W.R Robison Is Buried Monday Mother of Well Known Hope Citizens Succumbs Saturday Night Mrs. W.

H. Robison, aged 82, pioneer Hempstead county citizen and mother of well konwn local residents, died at her home on the Fulton pike a mile west of the city at 7:45 o'clock Saturday night. Her husband died February 10 last, one of the oldest residents of the county. The funeral service for Mrs. Robison was held at 10 o'clock Monday morning from her home, with burial in Rose Hill cemetery.

The officiating clergymen were Dr. J. L. Cannon and Dr. W.

A. Bowen. Mrs. Robison is survived by 10 children, 19 grandchildren, and 6 great grandchildren. The children are: O.

Robison, DCS Aro; Mrs. J. G. Vclvin, Valliant, I. Robison, Mrs.

Ada Talley, and George W. Robison, of Hope; G. B. Robison, Seattle, C. T.

Robison, Orange, Texas; C. H. Robison, Oklahoma City; E. M. Robison, Albany.

N. and Mrs. Dale McGec, Malvern. from out-of-town who wcro able to attend funeral were: O. G.

Robison, from DOS Arc; Mr. and Mrs. J. G. Velvin and Ned Guesi, from Valliant, Mr.

and Mrs. Dale McGee, from Malvern; and C. H. Robison from Oklahoma City. The pallbearers were: Henry Hitt, Logan Bailey, Hugh LaHimer, Clyde Coffee, N.

I. Guest and John Ridgclill. The department store of Gco. W. Robison Co.

was closed Monday morning on account of the death of Mr. Robison's mother remaining closed until completion of the funeral service at noon. Thunder Shower Hits Hope Monday Rain Breaks Over Central County at 2:15 O'clock A thunderstorm that was short but sweet, "broke over Hope about 2:15 o'clock Monday afternoon, continuing for 30 minutes. Rain fell in (he central portinn of the county, although advices were lacking as to the exact of "ritnry bsnefitted. Corn in th; southern part of the uuty cjnld u.j IKDIX rain, furr.iorj ar.i.l 'Indications lluit rain is un iht: way.

Grissom funeral Held Here Sunday Aged Resident of Hope Died Suddenly in Little Rock Funeral services, Bamma Grissom, aged -75, Who died at the home of her George Nabors, at Little' morning 4uly3, from, the-First Methodist church in this city at 3 o'clock Sunday afternoon. The services were in charge of Dr. J. L. Cannon, pastor of the R.

Anderson, pastor of the First Presbyterian church. Burial was in Rose Hill cemetery. Mrs. Grissom is survived by one daughter, Miss Margaret Quayle of New York City, one sister, Mrs. George Nabors" of Little Rock, and one brother, J.

M. Phillips of this city. Active pallbearers were: John Dawson, J. R. White, Jim Reed, E.

F. McFaddin, Mac Duf ie and J. V. Moore. Bulletins i (roler of Hie currency Issued call Monday for the condition ot nil national bunks at of business June St.

LITTLE state bank commissioner fatted a call for the condition of state banks at the close of business June 30. LONDON, Is still the world's largest city by a margin of more than a million Inhabitants over New York. A prelmlmtnary summary of the sus taken last April gives London a population of 37 Chinese Die in Rio ting in Korea Korean Mobs "Beat Chinese to Death With Bamboo Sticks TOKYO, Japan. 1 most serious interracial clash in Korea in recent years left 37 persons dead Monday, with police protecting the Chinese" colonies' of two against further violence, The deaths occurred when mobs, of Koreans through the Chinese colony o'f Pingyahg, attacking residents with bamboo sticks. 48 Sudden ioi U.

S. IS DEI 1 gbl The a meeting 1 President 1 President Hoover Dines Post, Gatty Round the World Flyers Are Guests of White House Monday Wiley Post and Harold Gatty 'were welcomed to Washington Monday to receive official recognition from President Hoover for their round-the-world flight. The pair who girdled the globe in less than nine days arrived from New York by train and went immediately to the White House, where they were lunchen guesst of the president. Their wives and their backer, F. C.

Hall, Oklahoma oil man, went with them on the invitation of Mr. Hoover. Chicagoan Held As Track Bomber Feud WithlEiTvated way Leads to His Arrest CHICAGO John 43, wealthy apartment house who police said carried on a feud with the Chicago Rapid ransit Company because the roar of its elevated trains disturbed his tenants, was Sunday in conection with a plot to bomb the company's Howard streets terminal. He denied the charges. One bomb exploded in the terminal yards tearing U.P tracks, shattering car windows and endangering lives of citizens living nearby.

Two other bombs, with -fuses sputtering, were discovered nearby and extinguished. The bombs were of such size that an iron cap'from the one exploded tore its way through a house located' a block away, narrowly missing four sleeping children. The terminal yards were practically deserted at the time. acting on information supplied by company officials, reported they found in Graff's apartment a portion of a box in which' the unexploded bombs were placed. He was held on a technical charge.

Graff, whose 38-apartment building is located adjacent to the terminal, has instituted many complains against the company, police said, charging that the screeching. of car wheels and the rattling of switches caused his tenants to leave. Tully Henry, Low In Golf Tourney Moore Second, LaGrone Third in Four-City Meeting Tully Henry, of Hope, was medalist in a fellowship tournament of about 50 golfers from this section on the Hope Golf Club course Sunday. Two other Hope players placed second and third, respectively, Lyle Moore and R. LaGrone, Jr.

Mr. Henry was awarded an Allen A Hosiery prize by Reed, Routon and other prizes were given as follows: Mr. Moore: A Bob McDonald golf club, by Montgomery Ward Co. Mr. LaGrone: An asortment of golf balls, by Crescent Drugstore.

Will Orton, of Fulton: Bridge cards, by Hope Golf club. Don Reynerson: A Keen Kutter pocketknife, by K. G. McRae Hardware company. Jeff McClanahan: A pair of Wilson Brothers golf sox, by Gorham Gosnell.

S. M. Curruth, of Nashville: A smoking stand, by Moreland's Drugstore. Hope entertained visiting golfers from Nashville, Prescott and Magnolia with prizes offered by Hope merchants. Another tournament will bo un- runctil shcrtly.

accprdiug tu Terrell: Cornelius, of the local club, i One Injured In Auto Accident EI Dorado Resident Hurt Slightly in Crash Near Waldo WALDO, man was slightly injured and seven other persons escaped unhurt Sunday afternoon when two automobiles collided on a highway one mile east of here. Julius Nelson of El Dorado, driver of one of the machines, received a slight cut on the arm. Charles Brown, of Waldo, was driving the other auto. With him were Floyd and Lloyd Stevens, 14-year-old twins, Joe Taylor, about 14, all of Texarkana; and Miss Mary Fincher, of Waldo. None of them was hurt.

The Stevens boys are the sons of Mr. and Mrs. Lon Stevens and the Taylor boy is the son of Mr. and Mrs. Roy Taylor.

With the El Dorado man were W. H. Crain and John Burns, both of El Dorado. Cause of the accident was not known here. State Stlmson of arrived here Monday, the Corite Grande pean He wHl-lwVeJi the same ship-for, SiNaplei WAsiaNGTON.Hifer' rect -way -of.

thfev technical', Hoover's American -if ft jfcifj-J 4 1 merits ment in tails to At the'I of State 1 The. announcement hv Monday followed the Sunday that 4 he ment had 'llatiy refused the 1 to-' i maintain German payments "in kind," The purpose of 'the French voffeiy was explained, was i to Ji manufacturer Buying German to order the German steel man to pa; the German government, which woi then appjy Ihe purchase, price, pf steel to Germany's reparations ment to France. President Hoover and' the oil world powers felt-that in violation of' the original' nion torium plan. They Sunday that such a plan could.be acW cepted only In 'the event 'thatvthr French guaranteed to lar of such trade Agreements ba'i' to Germay for fecohomic rehabilitate the.Frerich, not prepares to agree to, 1 Developments Monday mqrnj showed a decided turn for.the bet' however, with further cpncesUons pected in the French camp. Persons In World Federal Car Census Shows U.S.

Still Far Ahead in Ownership -f? In TEXARKANA PUBLISHES HEBE Charles Newell, publisher of the Texarkana Press, is in Hope Monday, accompanying David Nelson on a trip here from Texarkana. Mr. Newell was general manager of the Dallas Dispatch before founding the new Tixurkana evening paper this Serbia, i'pd is nationally known ivwipuper I out every 54 persons in the world is es-i timated by the Pepartmtnt of Com- 'ia merce to have an automobile, In the United States, however, there is car for every 4.59 persons, as pared with 4.87 last year, The census just completed by the (' department shows that year ago there was a machine for each 55 sons in the world. It made no reference to'perking problems, but it was aessume4 that Aman, where there is one car for each 55,000 persons, and Yeman, which has 139,000 persons for each machine, were not bothered by such difficulties. China's millions, figured in biles, averaged 12,475 persons for fa of her 36,771 yehfcles.

ported 14.858 for cars, while Oman had nine care Yeman The census showed cars, buses and trucks ift 164 countries, with no dpubt of the United States' moto supremacy. This country counted for 26,697,398 vehidss, flf which 23.121,059 were passenger cars, Outside the United States the ratio of one machine for each persons, as of January 1, 1930, had dropped to one for each 200. The most desenly motorized outside the continental United States was Hawaii, with one car for teven persons- Canada, and Zealand were next in line with for eibht; Australia next with one 11. The world total increase mutely two per cent, or 678,134 tered automcbilcs. he' increa bniud StatoTs.

totaled, in lht year. 1.