davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
MELLON RELEASES
MILLIONS IN BANKS
Approves Credit Debentures
as Acceptable Security for
U. S. Deposits.
BY DAVID LAWRENCE.

Five hundred million dollars worth
of collateral now used by banks as Sc
curity for the money the Federal Gov
eminent keeps on deposit throughout
the country can be released for other
purposes, it was learned yesterday, as
result of Secretary Melons ruling that
the new debentures of the National
Credit Corporation will be accepted
as security for all Government deposits.
Heretofore Government bonds, bank
ers' acceptances or commercial paper
have been acceptable as security Tor.
Government deposits up to 80 per cent
Of their face value. but In desire to
endow the securities Of the National
Credit Corporation with a greater
extended the same 90 per cent privilege
to the new debentures, thus announcing
its confidence in the value Of the de-
bentures and the soundneSs OF the en-
tire bankers pool plan.
Government deposits fuctuate in
amount and, of course, there may" be
national banks which have only 10 per
cent Of their capital invested in the
new debentures, while their Govern
ment depOSlCS may run nlBner, SO dC-
tually there will not be a parallel Of
the exact amounts in each bank, but
with the power to use the debentures
as collateral. bigger value has thus
been given them for banking purposes
The release Of approximately $780,
100000 of good collateral at this time
will enable the banks to increase to
some extent their borrowing at the
Federal Reserve banks If they desire
and thus will add substantially to the
borrowing power of American banks.
Something of the same kind is hap
pening in connection with State and
county funds. Thus, in Ohio, the at
torney general has ruled that real es-
tate mortgages always have been legal
to secure State deposits. Other States
have similar laws. The present de-
preston Is teaching new and varied
uses of credit instrumentalities.
pf1kt
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
CONGRESS WILL GET
AT. OF LAID PLEA
millions" Will Be Asked to
Supplement Local Relief
Funds.
By the Associated Press.

VANCOUVER. British Columbia, Oc-
tober 17-William Green, president of
the American Federation Of Labor, was
directed by the federation's executive
council in session here today to go be-
force Congress with an appeal for many
millions of dollars to be appropriated
as an unemployment relief fund.
The executive council has expressed
It's determination to secure the appro-
priation of an adequate sum Of money
TO meet the requirements OF the I'M
employment situation in a full and
complete way" Mr.. Green said.
Hunger Must Be Relieved.
His statement follows:
Hunger must be relieved, food and
clothing and shelter must be supplied
the needy.
The executive council appreciated
the fact that local communities will
be called upon to do their full share
Likewise, the municipal and State gov
ernments will be called upon to respond
In liberal way; but owing to the fact
that heavy demands have been made
upon local communities for the relief Of
unemployment since 1929, 1t Is the
opinion OF the council tnaC the Feoeral
Government should and must respond
through a generous appropriation Of
Federal funds in order to assist and
help In full and complete way the
local communities throughout the Ma
ton.
Sum Is Many Millions.
For this reason the executive coun-
ell directed the president of the Fedora
ton of Labor to present to Congress a
strong appeal for the appropriation of
a large sum, amounting to many mil
lions Of dollars to be used as an I'M
employment relief fund and to be used
in experimenting the monies appropri-
ated by local communities, city and
State governments.
1T is the firm opinion Of the execu-
tive council that Congress is ready to
take such action and that when it meets
in December 1t can be prevailed upon
to make liberal appropriations for I'M
employment relief and to devise ways
and means by which the money needed
can be raised.
THE needs are very great, distress is
widespread, consequently the council is
fully convinced that Congress will re-
spond in most wholehearted and gen.
erous way
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
HEAD OF CREDIT CORPORATION
ONCE REFUSED CABINET POST
President Taft Offered G. M.
Reynolds Portfolio as
Treasury Secretary.
Chicago Banker Began His
Career as Office Boy in
Small Town in Iowa.
BY the Associated Press.

BY the Associated Press.
CHICAGO, october ia farm boy
who started his financial career sweep
ing out small town Iowa bank be-
came today chairman Of the National
Credit Corporation, proposed by Presl-
dent Hoover to nquidate frozen assets,
and to which American bankers have
pledged hundreds OF millions.
He is George M. Reynolds, chairman
Of the Executive Committee of the
Continental Illinois Bank and Trust
REYNOLDS selection, made at the direc-
tors meeting in New York, honored q
banking career that made him head OF
the largest bank West OF New York,
the Continental Illinois.
Ignoring his parents request that he
attend college. Reynolds entered the
Guthrie County National Bank at
Panora, Iowa, at the age OF 10 as OIL
fee boy, SO years ago.
Was Made Loan Agent.
Later he became the banks loan
agent and travelled over Nebraska, es-
tablislring credit with farmers.
Then it was a cashiers post In Des
Moines bank, which two years later
made him president. Two more years,
and Reynolds was drawn into Chicago
as cashier of the old Continental Ma
tionnal Bank. ,
On January /, 1905, while he was still
young enough to be the son OF many
of the directors, the bank made him
president.
In 1908, soon after his election as
president of the American Bankers AS
ISOLATION, President Taft offered him the
Treasury post in the cabinet.
REYNOLDS had a theory that business
and politics do not mix and refused the
portfolio.
Reynolds has another theory. marry
early; and he did. His son, Earle H.
Reynolds, is now president Of the Peoples
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
EDNA MILLAY WINS
AWARD FOR VERSES
n. H. Levinson and Other Prizes
Are Announced in Issue
Of Poetry Magazine.
Nv the Associated Press.

BY the Associated Press.
CHICAGO. October 17-Edna st.
Vincent Millay was awarded the Helen
Hare Levinson Prize, offered for a
poem or group Of poems by an Ameri-
can appearing In Poetry, a magazine
Of verse.
The announcement was made today
in the current issue Of the publication.
The Levinson prize Of 5000 has been
offered for 10 years by Salmon o.
Levinson, Chicago attorney, in memory
of his wife. The award to the New
York poet was based on her Three
Sonnets."
william Carlos williams Of Ruther-
ford, N. j., was given the guarantor's
prize of 500 for THE Botticelli Trees"
Harold Lewis Cook OF Avon, Conn,
received the Friday Club prize of 500
for his group, Things Described.
Basil Bunting, an English poet living
in Rapallo, Italy, for his "Villon," won
the lyric prize Of $50.
Helen Hoyt (Mrs. W.. w. Lyman) Of
st. Helena, Calf, won a special lyric
prize offered by an anonymous poet for
her three lyrics, For One Who Died In
Spring"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18

re-establish itself on its forward course.
1T was the unanimous opinion OF the
directors that the National Credit Cor
poration In its operations will contribute
materially to business recovery generally
and have a far-reaching effect in
crystallizing the confidence Of the en-
tire Nation.
I'm many Of the Federal Reserve dis
trictS the organization of local aSsocia-
lions and banks through which the cor
poration will operate has been perfected
and 1t is expected that the entire ma
chinery will be set up and functioning
within the next few days.
With view to bringing about, in
so far as possible, uniformity Of pro-
cedure in the practical operation Of the
plan, the directors also adopted articles
of agreement for the local associations
of banks to be formed in the respective
Federal Reserve districts; suggested by
laws for those local associations; forms
Of subscription blanks to the National
Credit Corporation gold notes; forms of
application blanks for loans to be used
by borrowing banks and suggested reso-
lutions for the adoption by local asso-
Citations covering acceptances Of loans
and requests upon the National Credit
Corporation for advances approved by
lOCdl bOdIl NOllIllLtcS.
Other Officers Named.
Other officers named, in addition to
the chairman and president, were:
Vice presidents: Daniel G. Wing,
chairman of the board of the First Ma
tional Bank of Boston, and Walter w.
Smith, president Of the First National
Bank in st. Louis, Mo-: secretary and
treasurer. Nelson S. Dearmont, assistant
vice president Of the New York Trust
Co.; Executive Committee members, Mr.
Wing, Boston; Livingston E. Jones,
president Of the First National Bank of
Philadelphia; Arthur E. Braun, presi-
dent of the Farmers Deposit National
Bank of Pittsburgh; Nathan Adams,
President of the First National Bank of
Dallas, Tex, and Frank B. Anderson,
chairman of the board of the National
Bank of California, N. A., at San Fran
cisco.
While the initial amount of funds
available has not yet been officially
announced. 1t is understood that sub
scriptions in excess Of the initial $780,
100000 proposed have already been
received. The New York banks have
pledged $50, 100000. It is understood
subscriptions will be requested at the
start.
The corporation may eventually raise
as much as a billion dollars.
The final slate Of directors was an
nounced only last Monday. In the
meantime the various directors have
endeavored to aid in setting up re-
gional organizations in their districts,
while those coming from considerable
distances, particularly those from San
Francisco and Dallas, have had to
spend several days on trains for New
York.
Several of the directors planned to
leave New York tonight to return to
their districts to take charge Of the
regional work as soon as possible.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
MAY MAKE LINERS
. OF PLANE CARRIERS
Company to Buy Two for
Passenger Service Is Re-
ported Pending.
BY the Associated Press.

By the Associated Press.
BOSTON, October 1.-THE Boston
Transcript today said incorporation pa
pers would be filed next week at the
State House for company to acquire
the naval airplane carriers Lexington
and Saratoga for conversion into ex-
press passenger liners designed to sail
from Boston to Europe in four days.
The acquisition Of the carriers, each
OF which cost nearly $45,000,000 when
constructed several years ago. would be
dependent upon the approval Of Presi-
dent Hoover, the paper said. He has
not yet been approached.
Sum Probably $4,000, O0O."
The New England group behind the
project, the Transcript said, was said
to be ready to buy the ships Eat q
reasonable price, probably $4,000, 900.
A further condition was that the United
States Shipping Board should agree to
grant loan for three-quarters Of the
cost of reconditioning, estimated at
S11 ,250,0 900, and that the Post once
Department should award a "satisfac-
tory" 10-year ocean mail contract TO
the promoters.
The transcript said three Of the rail-
roads entering Boston, the New Haven,
the Boston & Albany and the Boston
g. Maine together with the Pennsyl-
vania, had agreed to indorse the flnanc-
ing Of the plan and to supply the man
agement. It further said the First
National Bank and the banking house
of Lee Higgins & Co. would raise funds
up to 100000 for the initial financing.
Denies Bank Committed.
Charles E. Spencer, jr.. vice president
of the bank, who was said to have been
one Of those closely consulted by the
mitted itself in any way. I'VE have
been approached by the promoters with
q prospectus and we are investigating
the merits Of the plan" said Spencer.
but We have arrived at no opinion.
He added that, because OF the magnl-
tude Of the project. 1t was difncult to
obtain definite figures upon which 10
reach conclusions.
Preliminary estimates by the pro-
moters, the transcript said. indicated
the converted carriers could be ready
for service by the Spring Of 1888. II
was planned If the deal were consurn-
mated to transform the carriers into
ships at least as luxurious as the
Bremen or the Europa OF the North
German Lloyd Line.
United States Senator Wallace H.
White, jr, of Maine, co-author OF the
Jones' White act, now known as the
merchant marine act, was said by the
transcript to have investigated the
proposition and to have volunteered
personally to sponsor the decomnis-
sioning Of the carriers and their con-
version into passenger ships.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
WINS ARMY AIR RACE

GALVESTON, October II P.-Lieut.
Don w. Mayhue of Palestine, ILL.,, won
the annual Mason M. Patrick Army
Airplane Trophy race of the 3rd At
tack Group here this afternoon, aver
aging 1920 miles per hour over the
60-mile course.
Lieut.. Eric G. Danieison Of Spokane,
Wash, was second with an average of
141.45, and Lieut.. Richard A. More
house Of Columbus, Ohio, third with
140.906. Lieut.. Mayhue alternated for
Capt. Lotha A. Smith.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
FISHER BOYS FATE
REMAINS MYSTERY
Three Day Search Fails to Reveal
Trace of Stolen Boat
or Youth.
BY the Associated Press.

BY the Associated Press.
FORT PIERCE, Fla. October IL
The fate Of a 16-year-old fisher boy,
Charles Benson, and Of the cotton
shrimp boat Theofilos, stolen from its
anchorage here Wednesday with the lad
aboard, was further deepening into
mystery tonight.
Three days of search failed to turn
up a trace Of the boat or the fate Of
the boy. Coast Guard and commercial
boats conducted a search for the miss
ing ship. but up to tonight they had
been unsuccessful.
The Theofilos, bound from Galveston
for her no ne port at Fernandina, Fla,
was tied up at the municipal docks here
when she was stolen. The crew had put
in to await the passing Of a stiff nor
easter which whipped up the Atlantic.
witnesses reported they saw the ship
leave the dock and proceed to sea with
out lights shortly after Capt. Merle S.
Davis and other members Of the crew
went ashore for food. They left Ben
son asleep on the boat.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
WARNS AGAINST DISEASE

DR.. A. Barklie Coulter, chief Of the
department Of internal medicine at
Gallinger Hospital, warned 1000 en-
ployes of Woodward g. Lothrop against
negligence which might result in tuber-
culosis, in a talk made before the group
yesterday morning.
The address was one Of series Of
lectures on health arranged among
local department stores by the District
tuberculosis Association. DR.. Harry
Benton will speak at Goldenberg's and
DR.. Viola Russell Anderson at Kanns
later in the month.
!. A group Of colored physicians has
organizations employing large numbers
Of colored men and women.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18

pease a supposed public clamor. Why,
even the confidence he rested with his
attorney has been used as evidence
against him"
The attorney to whom Fink refer
red was Lawrence B. Mattingly OF
Washington, D. c., who attempted to
settle Capone's income tax difficulties
in 1880. Included In the Governments
documentary evidence was letter
which Mattingly wrote to the Internal
Revenue Department estimating CO
pones income OF $266,o00 over Q four
year period. -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18

Trust & Savings Bank on Michigan
boulevard, an AFFILIATE Of the CONT
mental.
Sought After as Speaker.
When the Illinois Merchants was
merged with the Continental after John
j. Mitchells death, Reynolds was made
chairman of the executive committee.
He is head of the Clearing House AS
ISOLATION and this week directed the
forming Of the Chicago rediscount pool,
to which approximately $7o,0oo0oo has
been pledged.
Hearty in health, with white hair and
youths CLEAN in his eyes, Reynolds Is
a much sought banquet speaker. He
has a lore of interesting bits of humor
and laughs jovially as he tells them.
When look back on my own life"
Reynolds once said, II realize how much
I owe to the fact that 1 received my
early training In small country. My
education consisted largely Of what I
learned through contact with men and
I do not know whether university
could have taught me more. The only
trouble see with big universities is that
they seem to unfit the graduate to get
down to the level of the beginner when
the time comes to start a business
career"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
THREE HURT BY AUTO

Mrs. Harriet A. Reno and her daugh-
tiers, Margaret and Gail, of 438 Emer-
son street, were treated for cuts about
the face and hands at the Atlantic City,
N. j., Hospital as the result Of an au
temobile accident on road near the
resort last night, according to an ASso-
ciated Press dispatch.
The accident Is said to have occurred
when Margaret, q typist in the Internal
Revenue Bureau, who was driving, re-
leased the steering wheel to slap at an
insect near her face.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
BOAT SUNK, THREE SAVED;
WOMAN, CHILD MISSING
BY the Associated Press.

CLAYMONT. Del, October IA
woman and child were reported miss
ing and three men rescued after the
motor launch Wachutta, I'd, in which
they were riding. was ranmed and sunk
by the motor ship Triumph in the Della
ware River late today.
The Triumph, commanded by Capt.
Milde, was bound from Philadelphia to
New York, Norfolk and the Far East.
Capt. Rice, skipper or the British
steamer Forthbank, outward bound, re-
ported he saw the collision and put out
a boat, but that when it reached the
scene no person could be found.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
FLORIDA G. o. P. TO DRAFT
REPLOGLE FOR SENATE
Wabash r. r. Director Is offered
as Opponent to Fletcher,
Present Incumbent.
By the Associated Press.

BY the Associated Press.
Florida Republicans, meeting here to-
day to plan for the 1882 political cam
paign, decided to draft" ]. Leonard
Replogle of Palm Beach, who made a
fortune in steel, to oppose United States
Senator Duncan U. Fletcher, the Demo-
cratic incumbent.
William j. Howey, Florida real estate
developer, who was chosen as the can
didate for Governor, told the conven-
ton Replogle did not want to run for
the Senate and would not become a
candidate unless drafted. Replogle is
a director Of the Wabash Railway.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
BOY WINS FISHING CONTEST
WITH STORE-BOUGHT "CATCTT'
Judge Protests but Rules Are Cited and He Is Hooked
by 1O-Year-Old Who Knew Thing or Two.

you didn't catch that fish here
see, the papers still on it." the as
founded judges told the boy.
1T know I didn't" Jack replied, "but
read your rules-they say the prize is
for the largest flsh entered In the
contest I'm entering this"
The judges smiled sheepiShly and
handed him first prize.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
TWO MEN SEVERELY HURT.
william Collins and Ray Marchael in
Crash Near Bethesda.

Special Dispatch to The Star.
BETHESDA, Nd, October 1.-Two
men were seriously injured early TO-
night when their automobile left River
road, near here, struck tree and
turned over on its side in q ditch.
Both men were taken to Georgetown
Hospital for treatment.
william Collins, 20, of Bethesda, an
employee of Offutt's Confectionery, was
the more seriously hurt, receiving a
possible skull fracture in addition to
cuts and bruises. His companion, Ray
Marchael, %, of los Wooten avenue,
Friendship Heights, suffered severe Ia
cerations of the head and nose and
possible internal injuries.
Walter Cunningham, colored, 1911
Eighth street, Washington. took the
men to the hospital.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
BY the Associated Press.

By Lne ASsoClAteu PfeSS.
CHICAGO, October 17-This is a
fish story-and the South Park COM
missionerS got hooked!
Came 10-year- Jack Rubinstein
with a 10-pound pike today to a con-
test sponsored by the commissioners,
supposedly for the largest fish caught
this year in the Washington Park
lAen0n
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18

Ninety-year-old Sir Alfred Yarrow
was among 40 who recently new oyer
London in a new airliner.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18

Theater attendance at Sydney, N. s.
w.. IL greataer than at any time this
year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
HUGE CREDIT BANK
PERFECTS DETAILS
OF ORGANIZATION

Continued From First Page.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-18
TWO MEN KILLED,
PAIR BADLY HURT,
IN AUTO MISHAPS

Continued From First Page.)
The Daily Alaska empire., 1931-10-29
How One Woman Lost
 20 Pounds of Fat
Lest Her Double Chin Lost Her Prominent Hips Lost Her Sluggishness
Gained Physical Vigor
 Gained in VivaciousneSS Gained in Shapely Figure

When your vital organs fail to perform their work correctly-your bowels and kidneys can't throw off that waste material = before you realize it--you're growing hideous- ly fat!
 Take one half teaspoonful of KRU- SCHEN SALTS in a glass of hot water every morning cut out pastry and fatty meats, go light on potatoes, butter, cream and sug- ar-in weeks get on the scales and note how many pounds of fat have vanished.
 Notice also that you have gained in energy-your skin is clearer your eyes sparkle with glorious health-you feel younger in body keener in mind NRUSCHEN will give any fat person a joyous sur prise.
 Get an 85c bottle of KRUSCHEN SALTS from Juneau Drug Co. or Butler Mauro Drug Go. or any leading druggist anywhere in Am erica Qasts 4 weeks. If this frs. bottle doesn't convince you this is the easiest, safest and surest way to lose fat-if you don't feel a superb improvement in health-so gloriously energetic-vigorously alive your money gladly returned. adv.
The Daily Alaska empire., 1931-10-29

gone? What should she do? She was still standing, undecided, be- side the long line of letter boxes, when the glass door from the street was suddenly pushed open and her half-proIner came striding in.
 'Nelson!" Sam needed no more than glance to know that some thing was very wrong. Sonny AL dersea's face was pale and haggard and there was wild light in his eyes. Nelson! What is it? What has happened?"
 Sonny stopped short in his tracks and stared, almost as though he did not recognize her. Then he licked his lips. Its Martha" he said hoarsely Its Martha!"
 What about Martha?" Sam de- manded sharply.
 He gulped She's disappeared, ; he said slowly, as though trying to convince himself of something that could not be true. T can't find her anywhere. She's gone away" "
 "Ohl" said Sam What hap penedp Did you have some kind of foolish quarrel?"
 They went up to Nelson's apart ment, and on the way up he gave her a broken, disjointed account of the affair.
 It seemed that there had been no quarrel To the contrary since nov ing into the apartment their mar ried life had been progressing much more smoothly Nelson said that he had been happy. He had thought that Martha was happy too. She might have been bit moody and quiet these last few days, but not alarmingly SO. Even their break fast that morning had been a perfectly normal meal. He had worked all day at the Express, and had come home at the usual time expecting to find Martha busy with the dinner.
 Instead, Martha was not there No lights had been turned on any where in the apartment and there was nothing cooking on the stove. On the little table between their beds he had finally found letter. The letter said that Martha was
The Daily Alaska empire., 1931-10-29
ON SICK LIST

Robert Bonner has been laid up this week with an attack of lum- bago. He expects to be able to re- turn to his work in day or two.