The Waterbury Democrat., 1932-06-28

made 1t necessary to take re- course to borrowing to meet them. ''The loans have been completed and have placed the bank in an im- pregnable cash position. The loans negotiated are for current require ments and to pay depositors and are not for the purpose of liquida- tion."
 Berlin. June 2S.-(UP)--Heavy sacrifices will be, demanded for shareholders of the leading Ger man shippings lines, Hamburg America and North German Lloyd, at their annual meetings to-mor- row.
 The nominal capital of both concerns, 160,000,000 marks. will be reduced two-thirds. But even this reduction is expected to be an Agreeable surprise" to stock had foreseen even sharper capital cuts.
 The balance sheets showed a net loss of 4,618,0OO marks for Hapag Hamburg -America) and 9,19S,00O for Lloyd. Actual losses were much heavier. To cover them the two concerns had to sacrifice two- thirds of their respective capital and liquidate their respective re- serve funds of 3S,000,000 marks and 46,550.000 marks.
 Atlantic City, N. J.. June 2s.-- CUP)-The present educational system of the United States is far from a successful exhibition of uni versaI democratic principles. Flor ence Hale, of Augusta, Me, presi- dent of the National Education association, told delegates to the associations annual convention here last night. Miss Hale de- tended the idea of education for the citizens as a whole but said greater training was needed for those educated and for the teach- CTS particularly the elementary grades. She said that out of every 1000 children who enter public schools, 974 reach the sixth grade, but only 260 are graduated from high school.
 Kansas City, Mo, June 2S-UP) Six deaths were credited to-day to heavy rains that swept Missouri and Oklahoma and four more per sons were missing and feared dead. Four were drowned in south western Oklahoma where heavy rainfall inundated Cox City. One lost his life west of Tishomingo. home of Gov William H. Alfalfa Bill) Murray. The other deaths were in Missouri.
 Wheat crops, just nearing har- vest, were damaged.
 Hollywood, June 2S.-UP)- The stork has made second visit to the home of Florence Vidor, film actress, wife of Jascha Heifetz. noted violinist. A boy born Satur- day will be named Robert Joseph. The couple have a daughter. two years old.
 Heifetz now in South Africa, is expected to return here shortly. Cumberland Gap, Tenn, June 2S. -(UP)-Aron Gilmartin. 22-year old divinity student of Chicago. was here to-day escorted from Ken lucky where he had gone to inves- tigate labor conditions. F. F.. Keller, University of Chicago graduate student, and Ina White. church workers, who had accom- panied him to Kentucky were ex- pected to join him.
 Giimartin disappeared after get ting into a car with Constable Dil- lard Middleton at Evarts. Ky. He said on his arrival here that he had not been harmed but had been told to get out Of Kentucky. Rye, ". Y., June 2S.-(UP)- Amelia Earhart, woman flyer Of the Atlantic. was scheduled to fly from Newark for a civic reception given in her honor by the city of Boston to-day. She was honored here yesterday by n dinner at the westchester Country club and by . municipal reception and parade.