davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
sen. j. J. DAVIS
and SIX OTHERS
TO FACE CHARGES
Eagles and Moose Member
'FroIiCS' Under Fire of
U. S. Officials.
FRANK Herring NAMED
Western Union Is Also
Accused of Conspiracy
Against Federal Law.

/ ~ hitcd Press
NEW YORK, Aug. 49,
United States Senator James
]. Davis of Pennsylvania,
hea dof the Loyal Order of
Moose, six other individuals
and the Western Union Tele-
graph Company were named
today in federal indictments
charging conspiracy to violate
the lottery law.
The others named in the indict-
ments we're:
Conrad H. Mann of Kansas City,
head of the Eagles lodge.
Frank E. Herring, editor of the
Eagles magazine
Bernard G. Mcclure. head of the
B. G. MCGUIRE Company of New
York.
Raymond Walsh, McGuire's as
sistant.
Theodore C. Miller, head of the
propagation department of the
Moose lodge.
Major Rivise. head of the parcel
delivery department of the eWstern
Union.
Four Indictments Issued
Four indictments were issued
charging that the seven individuals
and the Western Union conspired
to receive or caused to be received
receipts from lottery, or conducted
lottery in violation of the federal
law.
Senator Davis and MILLER were
named in two of the indictments.
Three fraternal organizations
putting on membership drives
through "frolics" and Charity
dances" were concerned in what the
government contends was a wide
spread lottery scheme"
The method of disposal of tickets
and the drawing for prizes both
IN merchandise and cash has been
under investigation by the govern
--@S~AU All I'LL CC IuOIIIS.
Cite Shriners' Convention
The government claims that tick
cts for various affairs run bv the
fraternal associations carried stubs
with them, by which the holder
participated in a drawing for vari-
Gus articles of merchandise. fur
nished by general company To-
Gated in New York.
The ShrinerS' convention in Cali
fornia, on July %, 1892. was cited as
one such event where the alleged
lottery was permitted and the gov
eminent declares that $4,000
worth Of goods thus were distrib-
uted.
The amount of merchandise dis
tributed to members of the LOYAL
Order of Moose, the indictments
state, was s150,0OO
Prominent Men Named
The event cited by the govern
ment relating to the Eagles was a
charity frolic and dance" at which
the customers received SIS, 900 worth
Of merchandise.
In addition to Senator Davis, sew
eral of the men named in the in
dictments have gained national
prominence.
Conrad Mann of Kansas City is
one of the most prominent citizens
of that city, heads the Chamber of
Commerce, and has been chief
executive of the promotion and
propaganda departments of the
Fraternal Order of Eagles for sew
eral years.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18

while the natives dance around
the tree. a young girl is forced to
drink the liquid Captain Hurst
said. Then she is compelled to
get up into the middle of the tree.
The trees tendrils and leaves
are representative, and as soon
as the weight of the sacrifical
maiden is pressed against them,
the tendrils entwine her. The
leaves raise slowly and completely
hide the girl.
n
"THE pressure of the tendrils
4 and leaves is like wise and
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
DOOMED YOUTH GIVEN
LAST MINUTE STAY

BOnham Execution Is Delayed to
Permit Sanity Hearing.
BIZ United Press
CHICAGO. Aug. 18.-Execution of
Howard Bonham. Evansville Qnd9
youth which had been set for mid
night tonight in the county Jail, was
postponed today until Aug. 26 to
permit a sanity hearing.
Acting Chief Justice James j.
Kelly of criminal court granted the
petition of Shelby Bonham, brother
of the convicted slayer, for an in
quiry into his sanity.
Bonham was convicted of the
murder of Paul Tulupan, Chicago
restaurant proprietor, more than
two years ago.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
MACHINE GUN BANDITS
ROB BANK OF $4,000
Forces Girls to Help Garry Loot to
Their Automobile.

By United Press
BELOIT, Wis, Aug. ia band
of machine gun bandits descended
on the Second National bank today,
slugged two men who resisted,
forced three girls to help carry
$4,000 loot to their automobile, and
then pushed the girls out two blocks
away and escaped.
On the way out of the bank, they
disarmed Sergeant Fred Stockwell,
lone member Of the police depart
ment in headquarters when an
alarm sounded.
The gang rushed into the bank
and completed the robbery with
such speed that none could be sure
how many there were. There were
at least six. three with machine
guns.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18

sealed aluminium
cage between Des-
anzano, on Lake
Garda, five miles
east of here, and
Volta, Mantovano,
at $40 p. m.
(l0:10 a. m. In
dianapolis time)
They had crossed
t h e Alps from
Zurich. Switzer
land, at an in
credible h e | g h t
and found a land
ing place near the
lake in the foot
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
Women Barred From Navy
~ w SpeeiaI

y = IWFf NUtffHI
ELIZABETH. N. j.. Aug. 1s.-Six
women have sent enlistment appli-
cations within the last few days to
the navy recruiting station in the
Elizabeth postofhce. most of them
wanting jobs as cooks. They we're
surprised to learn that only men
could serve as ships cooks.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
.HE tree. as described to the

a captain, is similar to a colos-
sal pineapple. 1t is about eight
feet tall and six feet around the
base. 1t has long tendrils, which
reach upward, each as thick as
the arm Of man
The leaves are large and con-
cave. and are lined with claws"
From the tree comes an intoxi-
eating liquid, which the natives
drink to arouse the hysteria which
leads up to the sacrifical cere-
mony.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
TRlPLETS ARE BORN TO
NORTH SIDE WOMAN
Mother and Daughters Doing Well,
Hospital Attaches Report.

Triplets, three mites of humanity
weighing little more than total
of ten pounds, were born Wednes-
day night in st. Vincent's hospital.
After Mr.. Stork arrived, Mrs
Herman Winkler, %, of 1927 Ruckle
street, and her three infants were
reported as doing nicely"
Names of the babies and their
respective weights are: Susan Eliza
beth, pounds 11I2 ounces; Mary
Regina, pounds 80 ounces, and
Fannie Fleury, pounds ounces.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
Bow Killed in FAN From Truck

CHARLOTTESVILLE, Ind, Aug.
18.-Donald Francis Holmes, 9, was
killed instantly Wednesday night
when he fell from truck on which
he was riding with his brother, Ray
mond.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
AuguSte Picard and Aid
Cross Alps and Drop
on italian Soil.
SETS ALTITUDE RECORD
BeIgianS Manipulate Craft
Like AirpIane and
Avoid Lake.
81 LniLcd presy

81 LHitCd Press
BRESCIA, Italy, Aug. 18-Prof.
Auguste Picard, daring Belgian
scientist, brought his stratosphere
balloon to earth near here today.
after soaring into the skies to a
height estimated at between ten
and eleven miles, the farest any
living thing ever has assembled into
the heavens.
The professor and his assistant.
Max Cosyna, came down in their
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
LOSES FIGHT FOR CHILD
George Davis Not Arrested on Neg
lect Charge, as Published.

George Davis of the Dearborn
hotel was not arrested on a child
neglect charge, as stated Monday in
The Times. Davis preferred the
charge in juvenile court against his
wife, Loretta. resulting in award of
custody of a child to the wife's
parents.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
INDICT LODGE CHIEFS FOR LOTTERIES
SCIENTISTS REACH HEIGHT
OF 10 MILES ON BALLOON
FLIGHT AND LAND SAFELY
HITLER'S LIFE STORY

A puny lad, born of poor
parents in an Austrian viii
lage, has reached manhood
to menace the peace of the
world. Turn to Page 3.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18
YES,
IT'S HOT
ENOUGH
FOR YOU!
Torrid love!

ri Torrid lovel
1t usually happens when
two women love the same
man, or two men love the
same woman-and almost
anything can result there
from.
For six glamorous three
cornered romances, direct
from the lives of well-known
men and women in 1892,
read The Times exclusive
series
LOVE- R RRE
Starting Monday, Aug. %
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-08-18

CONTEST WINNERS
Winners in The Times
Circle theater $4,000 Vaca-
tion Contest are announced
on Page 5.
La gaceta., 1932-04-08

so a so millones de personals,
CANA su vida en- los pueblOs y
en- las fincas Y que esta mitad
la perdido su poder de compra?
Ella viene recibiendo por sus
productos menos que ell costo de
coset harlos. Ninguna naci6n
puede por mucho tempo sopor-
tar csc medic estado de ban
carrota".
Bluefields, Nicaragua, abril
8.-La guardia nacional, diri-
gida por varios sargentds, Sc
amotin6 aver en- ell puesto de
Kisalaya matando al sargento
Charles j. Levonski, del cuer-
pc de marina de los Estados u
nidos, que en- esa guardia des-
empenaba un cargo de tenien-
tie.
Otro teniente, companero de
Levonski, de nacionalidad MICA
raguense, Carlos Reyes, recibi6
heridas graves.
La gaceta., 1932-04-08

con ell prop6sito de extender ell
uso de- sombrero de jipiiapa y
para hacer saber al mundo que
los famosos "panamas" no son
panamehos, sino hechos en- FL
Ecuador.
La gaceta., 1932-04-08

"a por la Radio ell gobernador
Franklin D. Roosevelt, atacan-
do ell plan del presidente Hoover
para alivio de los sin trabajo
y delineando uno que, seg1n el,
llegarfa al hombre olvidado en-
ell fondo de la piramide econ6-
mica. LA pres ente administ"a-
ci6n-dijo Roosevelt-ha bus
cado alivio temporal de arriba
hacia abajo, mas bien que ali
vic de abajo hacia arriba. Ell
;fondo de dos mil millones de Pc
sos que ell p~residente Hoover y
'el congreso ha puesto a DISPOSE
|ci6n de los grandes bancos, los
ferrocarriles y las corporacio-
mes, no ha servido para ayudar
a los campesinos y ell pequeno
popietario. Ell gobierno debiera
dar tanta a~sistencia al hombre
Ihumilde, como La que ahora vie
ne dando a los grandes bancos
|y corporaciones".
LA naci6n hace frente hoy
a una mas grave emergencia q.
en- 1917, cuando entrara en- la
guerra mundial. La administra-
'ci6n en- Washington ha olvida-
do 0 no quiere recordar a la in
lfanteria de nuestro ejercito eco
n6mico.
"Es ahora ell tempo de adj
mitir, con valor, que nos halla-
mos en- medic de una emergen-
Icia, por 10 menos igual a la de
la guerra, y que debemos mo-
lvilizarnos.
"iEn que proportion COM
prenden algunos de los llama
dos pensadores de La administra
ci6n, que la mitad del pals, de
La gaceta., 1932-04-08
LA PRES1.
DENCIAL DE ROOSEVELT
CONTINUAL BARRIEND0
~OBSTACUIOS

Washington, abril S.--La can
d;datura presidential de Frank
lin D. Roosevelt, continua ba-
rriendo los obstaculos con tanta
espectacular regularidad que la
mayor parte de los leaders de-
m6cratas conceden que sera no.
minado. Algunos de los leaders
tienen la seperanza de lograr la
derrota del gobernador de New
York, pero la oposici6n ha te-
nido que maravillarse ante la
extraordinaria fuerza desplega-
da por el.
En- los ultimos dfas, con sus
victorias en- New York y Wis
consin, Roosevelt ha aplastado
las esperanzas de ~aquellos que
teniqn vueltos sus ojos hacia al
fredo E. Smith. Otro hijo favo-
r'to, el senador Robinson, de
Arkansas, Sc ha puesto a un la
do para dejar que la delegation
de Arkansas Sc incline amiga
blemente hacia Roosevelt.
De los 1913 Delegates escogi-
dos hasta Ell presente, TIA estan
a favor de Roosevelt; James A..
Reed, de Missouri, tiene SO, y
Murray, %. Todos los restantes
104 estan en- duda pero los "a
de New York esperase que va
yam a la columna de su gober-
nador.
La gaceta., 1932-04-08

Noticias T~elegraficas Condensadas

Guayaquil, Ecuador, abril 8.
Ell orgullo nacional del Ecua-
dor Sc ha evcitado por ell hecho
de que uno de los mas famosos
productos del pals, los sombre-
ros de Jipijapa, son conocidos
como de Panama y no estan aso-
Iciados con ell pals que los hace Y
los vende por TODD ell mundo.
Los celos han surgido por la in
merecida fama de Panama CO.
mo una naci6n qe Distribute los
sombreros hechos en- Ell Ecua-
dor.
Los panamas son hechos en-
la Rep1blica de Panama; todos
los que Sc venden en- Panama
son importados del Ecuador y
Colombia, y llevan ell nombre de
jipijapa, ell correcto nombre del
genuine panama. FL panama
es una pobre imitaci6n de los
sombreros de jipijapa ecuato-
rianos. Fabrica ell Ecuador los
sombreros de jipijapa y los som
breros de paja toquilla, que son
tejidos por los indios, no bajo
ell aqua como popularmente Sc
supone, aunque la paja debe
mantenerse humeda.
Los sombreros Sc hacen en-
las aldeas de las p~rovincias dc
Manabi, Azuay, Canar, Pichin.
Icha e Indabura, alcanzando el
arte SUI mayor apogeo en- las po-
blaciones de Jipijapa, Monte
'cristi, Cuenca, Tabacunda y A.
zagues. Algunos de los mas fl
nos sombreros Sc hacen en- Mon
tecristi y llevan csc nombre.
Tan importante es ell concrete
en- Panama que los nuevos de-
rechos arancelarios han excep-
tuado los sombreros de "pafla-
MAJ.
Ell Ecuadon ACADIA DIT consti-
tuir una organizaci6F nacional
La gaceta., 1932-04-08
UN DEDO HUI
MANO CON UNA NOTA
~AMENA2ANTE

Cleveland abril 8.-Para a.
terrorizarlo ell dedo de una ma
no fue enviado hoy a un promi-
nente ciudadano de Cleveland,
John B. Wilberding presidente
de dos companies de prestamos
Y ex-presidente de la comisi6n
de boxeo del estado.
Acompahando a ldedo, deja-
do en- ell buz6n postal de WILDER
ding, .habfa una demanda de q.
pague $4,000 a un mensajero de
los bandidos 81 no quiere expo
nerse a la muerte. Ell dedo ha
sido quitado de la mano derecha
de un adulto, pero creese que
Sc lie cortara a un cuerpo sin vi
da.
La gaceta., 1932-04-08

Giayaquil, Ecuador, abril 8.
La marina del Ecuador, com
puesta de dos canoneros hizo a.
yer un esfuerzo para impedir
ell desembarco del general "Pla-
"a" un ex-presidente y ex-mi-
nistro en- los Estados Unidos,
pero sin que lograra su prop6-
sito. Plaza desembarc6 con su
familia, almorzando en- un no
tel de aqui y hacienda saber que
seguira viaje a Quito.
Serios desordenes courtroom
cuando la policfa trata de disol-
Yer una manifestation de hon.
bres sin trabajo, que atacaron
a obreros estibadores.
Aparece como jefe del movi.
miento ell comandante Di6genes
Fernandez.
La gaceta., 1932-04-08

Albany, New York, abril g.
Toda la naci6n comenta hoy Ell
d~iscurso que anoche pronuncia-
La gaceta., 1932-04-08

tados, quien tambien desempe-
nara la cartera de gobernaci6n
Obedece la declaratoria de la
ley marcial a que los depositan-
ties del Banco Central empeza-
ron a extraer sus fondos y ell
presidente Montero con ell fin
de dominar 81 panico, recurri6
a esa medida, creyendo que el
sistema monetario del pals tie
ne una base s6lida.
Atrib1yese la dimisi6n de-
gabinete anterior a la grave ST.
tuaci6n que existe en- toda la re
p1blica.
La gaceta., 1932-04-08

New York, abril 8.-La COM
panfa Observation-Disclosures a.
caba de anunciar una rebaja en-
los precios del pasaje a Euro
pa y la disminuci6n sera pues-
ia en- vigor ell dia 13 de abril.
La rebaja en- muchos casos
es de 80 y 35 por ciento. Las
Statendam,, que valian $257.50
quedaran rebajas a $172.50, y
las del Rotterdam, que Sc cobra
! ban a $255.00 han bajado a
$161.50.
; En- las camaras de primera
clase Ia rebaja es de I'm 20 por
ciento, quedando en- $4,000 las
del Rotterdam y $144 y $124.00
las de los otros vapores.
La clase llamada de touristas
que era la segunda, pagara
$4,000 hasta Inglaterra y $102
y $104 hasta Boulogne y Ro-
tterdam.
Las companias italianas han
anunciado una nueva tarifa con
estas reducciones Primera cla-
se, de $253.0O a $4,000; segun-
da clase, de $3.50 a 1920; Sc
gunda intermedia de $4,000 a
1910; tercera, de 500. a $4,000.
La gaceta., 1932-04-08

Santiago, Chile, abril Bel
p~residente de la r~epGblica de-
clar6 aver la ley marcial desig-
nando para formar I'm nuevo
gabinete a Victor Robes ex-
miembro de la camara de dipu-
Evening star., 1932-05-19

banks which failed last year. were the
first failures In 80 years. q
All savings banks in the State auto
matically became members with the
passage of the law. An initial assess
ment of S per cent was called in as
soon as the organization of the fund
was completed.
The central fund Is really an insur-
ance, said Charles Collins, president OF
the Lynn Institution for Savings and
treasurer Of the fund. He said he didn't
believe the fund was strictly necessary,
in the sense that the soundness of Mas
sachusettS savings banks was in ques-
ton, but that it would bolster public
confidence and serve to meet emergen-
cies.
The fund, Collins explained. has Is
directors. chosen from all parts of the
State. Each bank has one vote for
each 100000 Of deposits. The fund
will have a legislative life of five years;
whether it will be prolonged beyond
that period is undetermined. but Col
Inns believes it will not be necessary.
Evening star., 1932-05-19
ARABIAN HORSES
GIVEN CALIFORNIA
University to Carry Forward
Development of Saddle
Horses Begun by Kellogg.
BY the Associated Press.

BY the Associated Press.
BERKELEY, Calf, May 19.-For 40
years, at least, the well-bred horse will
not become extinct, despite the compe-
tition Of the automobile
Accepting the gift of w. K. Kellogg S
famed Arabian horse ranch. near Po-
mona, Calf, and a s600000 endowment,
the University of California has agreed
to carry on for this length of time the
work which the Battle Creek, Mich,
manufacturer pioneered in America.
The undertaking is expected to
finance research work in animal genet
les and at the same time, through
surplus of increase, help stock ranches
and stables with a finer breed of saddle
horses than the West has ever known.
Animals Perfect.
But to lovers of fine horsefiesh,
doubtless, the Arabian steeds of the
Kellogg collection. are in themselves
more interesting than the purely scien-
tif1c aspects of any problems OF animal
husbandry.
For in the Arabian, intelligence, as
well as beauty of physical line, reaches
perhaps greatest perfection.
Jadaan, Rudolph Valentines mount
in the picture called "T'he Son of the
Sheik," always claimed interest. Then,
there is Pep, a chestnut stallion who
always aroused the admiration of viSi-
tors by his unerring ability to pick out
red, white and blue pieces Of cloth at
the direction of any one in the audi
ence, a horse who can count and per-
form other tricks.
Does Many Tricks.
Rossika, q 3-year-old mare, is an
other. She walks by 6 inch plank,
plays hobby horse on rockers, works a
cash register, wheels rag doll in a
baby carriage, fires gun and waves a
flag.
One group Of eight stages a military
drill without bride or rein, or word
from any trainer, executing single file.
pairs, fours and all-abreast formations
with the precision of lodge drill team,
Evening star., 1932-05-19

mouth when I was 16, the youngest
member of my class of 1900. Although
I was interested In athletics and wanted
to make my d. it was not to be. but /!
kept I'D my interest in athletics ana
have seldom missed a Dartmouth ath-
letic event.
81 went to Harvard Law School for
two years and at the same time l was
secretary to Judge Aldrich OF the
United States District Court"
You were at one time interested In
aviation?"
Yes" he answered, when things
were going good. friend of mine came
to me and interested me in the subject.
He and 1 undertook to finance a cross
Atlantic flight from New York to Paris.
We secured the French ace, Fonck, who
was a great flyer, but evidently was not
used to handling such a heavy plane
designed for the first eastward flight
across the ocean. At any rate 1t came
to grief before it left the field and our
plans were frustrated. Col. Lindbergh
told me our scheme attracted his at
tention to the dormant prize OF $25, 900
and led him to interest his hackers in
his successful attempt"
(Copyright 1882. by the North American
Newspaper Alliance. 1nc)
Evening star., 1932-05-19
FEDERAL RESERVE
FORMED IN STATE
Massachusetts Sets Up Cen
trail Bank and Savings
Institution Fund.
BY the Associated Press.

BY the Associated Press.
BOSTON, May 1e.-Massachusetts
has miniature Federal" Reserve Sys-
tenn all its own, since the recent crea-
ton by the Legislature of the Mutual
Savings Central Fund, Inc.
Massachusetts also established recent
ly a central bank for cooperative
banks, while a third bill for central
bank for credit unions is before the
Legislature. A $4,000, 900 reconstruc-
ton finance corporation also is being
considered
The Mutual Savings Central Fund is
a s60000,0 900 corporation, formed by the
Legislature at the suggestion of Gov.
Joseph B. Ely. to assure the safety OF
Massachusetts, savings banks during the
present business situation.
No Calls for Loans Yet.
It was organized more than two
months ago, but as yet has not been
called upon to lend cent to single
member bank. In fact, two savings
Evening star., 1932-05-19
Asks Second Reno Divorce.

RENO, New. May 19 tP).-The former
Dorothy May White filed suit here yes
terday for her second Reno divorce in
three years.
In 1929 she divorced H. Earl Hoover,
head of the Vacuum Cleaner Co., on
grounds of extreme cruelty. Yesterday
she brought the same charge in filing
suit for dissolution of her marriage to
James c. Baker. New York broker, whom
she married July 18, 1880.
Evening star., 1932-05-19

be sent to H. L. Thornton. chairman
OF the General Committee. Other men,
bers Of the committee are: DR.. Shade,
A. L. Wilson, Mrs. Arthur Reynolds,
Prof. Louis D. Bliss Councilman II. E
Rogers, Alexander Sterling, J. Milton
Derrick, Mrs. Alfred Ray. Mrs. Anna
Shadle. Mrs. Frederick Pratt. Louis
Sherman, Steve La Scola and Chester
c. Waters.
Evening star., 1932-05-19
Falls Injure Two Skaters.

The roller skating fad claimed two
victims last night. when Grace williams,
80. 1900 block Columbia road, and
Catherine Goodman. IS, OF Landover.
Md, fell to the pavement near the
Lincoln Memorial and we're injured.
They were treated at Emergency Hos
pital for severe lacerations.
Evening star., 1932-05-19
TAK0MA PARK CITIZENS
PLAN TRIBUTE TO DAVIS
Retiring Mayor Will Be Given Tes-
timonial June / After 80
Years Service.
Special Dispatch to The Star.

Special Dispatch to The Star.
TAKOMA PARK, Md, May 19.-At
meeting of citizens here last night at
the residence Of DIR. E. Clyde Shade. ar
rangements were completed for the pres
entation of a public testimonial to
Mayor Ben G. Davis, who retires June
l after 80 years continuous service to
the municipality.
1t was arranged for members Of the
committee to receive contributions to
the fund in addition to those which may
Evening star., 1932-05-19
Loans Nearly Unlimited.

Each bank must contribute pro rata
to assessments, but there is almost no
limit to the amount which the fund
may lend to any bank. 1t will accom-
modate any member bank to the extent
that the bank needs cash and to the
extent it is able to furnish the Central
Bank with unimpeachable collateral.
The fund, in turn, can invest its cash
only in first class securities All profits
will be returned to member banks as
dividends. and when the fund ceases its
capital will be returned pro rata.
The fund may accept real estate
mortgages as security on a conservative
basis, feature regarded as most con-
structive since real estate loans are
likely to become frozen" in the local
bank