davidaulloa/AmericanStories huggingface dataset:
Imperial Valley press., 1933-07-03
KUHN, LOEB
8. SMALL fry

al By LYLE C. WILSON
nited Press Staff Correspondent

UnLeu fTeSS StaIt correspondent
WASHINGTON, July 8. - Senate
investigation of private banks re-
vealed in spectacular fashion the
impact of depression years on the
assets of the house of Morgan, and
Kuhn, Loeb & Co.
From 1929 to 1882, the great Nor
gan banks assets shrank one third
and those of Kuhn, Loeb nearly rs
per cent.
The inquiry still is to reach
Dillon, Read & Co., which pulled
abreast of and passed Kuhn, Loeb
in the gay twenties" when stocks
went up and up and up. But COM
parison of the Morgan and Kuhn
Loeb balance sheets shows the for
mer firm still safely perched on the
top-most pinnacle of private bank
ing. After three years of depres-
sion the assets of Morgan & Co.,
on December 81, 1882, aggregated
$424, ,708,085 compared to $34,266,- =
405 for Kuhn.
As between Otto H. Kahn and j.
P. Morgan, senior partners of the
two banks, the latter has been
vastly more richly rewarded, SO
far as records of the investigation
60. The figures indicate that Nor
gan s personal profits in II years
aggregated $75,00O000. He got 25
per cent of the firm IS profits.
Kahn S IA per cent of the smaller
Kuhn, Loeb e. Co. partnership was
considerably less. His cut, for in
stance, on the $19,146, ,463 earned
by the firm from 1927 to 1881 on
stock and bond transactions was
less than $1,000,0O0 Morgan S share
of profits in 1882 alone was $2,O0O,- :
900.
Imperial Valley press., 1933-07-03
MUCH CAPITAL
GOES ABROAD.
By RICHARD L. GRIDLEY
United Press Staff Correspondent

United Press Staff Correspondent
WASHINGTON, July 3.-Steady
flight of capital from the United
States as result of refusal of the
administration to agree upon mon
etary StabiliZation was seen by gov
ernment officials today.
Although the embargo on ex-
ports of gold prevents transfer of
balances to foreign countries at
profitable rates, American corpor-
ations are steaily building up large
credits in foreign financial centers
by leaving proceeds of foreign sales
of merchandise III the currencieS
of nations in which it is sold.
1t was estimated that millions of
dollars worth of credits are accum-
ulating abroad in this manner
awaiting stabilization of the AM
erican dollar before they are trans
ferred into American money and
returned to the United States. Of
ficials admitted the amount of
these credits was substantial
The accumulation of credits, it
was pointed out, is in many ways
equivalent to the actual export of
money from this country. Money
left abroad detractS that much
from the capital which might be
used for further business expansion
at home.
Treasury circles believed a large
part of this sum would come back
to the United States as soon as the
dollar showed signs of stabilization
or foreign currencies weakened.
Imperial Valley press., 1933-07-03
FINAL ECHO
Of ELECTION

With the tabulating of los abb
sentee votes this morning, and the
presentation of the total results to
the board of supervisors for their
scrutiny and approval, the special
state election held last Tuesday
takes its place alongside past elec-
tions in the county as a matter of
record and history.
These results show that county
voters betrayed very strong "yes''
and equally strong "no" tenden-
cies, but one proposition among the
10 having an almost even vote.
This was No. 3, legalizing horse
racing and pari-mutuel betting
which lost out in the county by
margin of 43 votes.
The results, as shown by the table
prepared by the county clerk S Of
flee and presented to the supervis-
ors, are as follows:
Imperial Valley press., 1933-07-03
CANAL CONTRACT
NOW VALIDATED

Officials of the Imperial Irriga-
tion district and of the United
States government are authorized
to carry out the terms and provis-
ions of the All-American canal con-
tract in a judgment filed at I'M
perial county court house this
morning by Judge Emmett Wilson
of Los Angeles.
Court valuation of the historic
document thus is completed as far
as the local superior court is con-
cerned. Judge Wilson heard the
case after local judges were dis
qualified on account of being prop
erty owners.
The judgment dated July l, de-
creed that the contract sis and
each and every article, clause, sec
tion and part thereof is lawful and
Imperial Valley press., 1933-07-03
Believed Victim
OF Liquor War

LOS ANGELES, July 8. W.P)-
Possible liquor rivals were sought
today in an investigation of the
murder of James DoginS, 80, Negro
cement worker.
Dogins' body was found in the
rear Of residence in the neigh
borhood of which police were seek
ing burglar suspect. The Negro
had been killed with a hammer.
Dogins' wife, Edna, who said she
and Dogins had separated, told
police her husband had had trouble
In the past with bootleggers.
Police said Dogins had no con-
nection with the theft they were
investigating at the time his body
was discovered.
Imperial Valley press., 1933-07-03

Valid' and district and govern
ment officers and directors who ex-
ecuted the contract, were lawfully
authorized to do so. The Judgment
also decreed that each and every
act, thing and proceeding necessary
to be done, taken or performed at
and within the time provided by
law and by the proper officers or
persons, was duly carried out.
1t was further adjudged that the
defendants in the case, the Coach
ella Valley County Water district,
and its directors and Charles NAL
an, who appeared in the case. take
nothing by their alleged defenses
and the plaintiff district is to re-
cover from the defendants their
costs in the action.
The case was tried in Imperial
superior court March 16.
Imperial Valley press., 1933-07-03
Pair Confess
Killing Officer

GRANTS PASS, Ore, July 8. U.PJ
John Albin Barrier, IT, of Hun
tington Beach, Calf, and Henry
Adolph Bowles, 81, of Los Angeles
today faced first degree murder
charges as result of the fatal
shooting of B. M. Baucom, state
policeman.
Police asserted the youths con-
feSsed they shot the officer when
he attempted to search their auto
mobile on a highway late Satur-
day. Mr.. and Mrs. M. E. Klumif of
Grants Pass, Ore, who witnessed
the shooting, said Baucom grap-
pied with one Of the youths for
possession of the gun.
The pair was said TO be wanted
in Los Angeles on an automobile
theft charge.
Imperial Valley press., 1933-07-03
Warming Issued
By Fire Chief

City parks and vacant lots will
provide Ell Centro youngsters avail
able space to shoot firecrackers in
celebration OF July 4, tomorrow,
said Fire Chief Tom Reams today.
A city ordinance makes it un-
lawful at any time to shoot fire
crackers in fire zone No. l. This
zone includes all the areas between
Broadway and Olive streets and be-
tween the s. P. tracks and Eighth
street. Violation of the ordinance
brings heavy fine.
Children and their parents are
urged to repair to the parks and
vacant lots to set off firecrackers
in order that no fires may be. start
ed. Firecrackers are listed as dan
yerous fire hazards.
Imperial Valley press., 1933-07-03
DriUer Released
Following Crash

LOS ANGELES, July 3. W.H-
No charges had been placed against
James E. Walford, 33, today follow
ing traffic accident involving the
truck he was driving in which two
women were killed. ....
A coroner's jury found that the
deaths of Mrs. Grace Stach, As, and
Mrs. Adeline Colburn, As, both of
8007 WhitSett avenue, were not due
to negligence on the part of Wal
ford.
Walford S truck and the auto
mobile driven by Mrs. Colburn col
lided head-on at Hath street and
Alameda avenue June 20.
Walford was questioned at Iyn-
wood police station and released.
Imperial Valley press., 1933-07-03
DiUorce Enables
Reno Romance

LOS ANGELES, July 3. W.P)-Ar-
thur Let's, Jr., AZ, capitalist and
son of the late department store
magnate, and Mrs. Marcot c. Won
Blarcom, 81, today filed notice OF
intention to we'd
Let's gave his residence as CAL
neva, New, and added it would be
his third marriage. Mrs. Van Blar-
com, native of Austria, has been
married once before.
Let's sister, Gladys Let's JansS,
was sued today for .5;vorce in Reno
today by Harold Janss, wealthy
real estate man.
Imperial Valley press., 1933-07-03
SUES FOR DIVORCE

RENO, New, July 3. W.P)-Har-
old Janss, Los Angeles capitalist,
today filed suit for divorce from
Gladys Let's Janss. He charged
extreme cruelty.
Janss, members of the Janss In
vestment company firm, and Gladys
Let's, daughter of Arthur Let's,
Los Angeles department store mag
nate, were married April 10, 1911
and have three children.
Imperial Valley press., 1933-07-03
Italian Plane
Fleet Delayed

LONDONDERRY, Ireland, July
3. U.P)-Italy's air armada bound
for the Chicago exposition was held
on the wf.>,rs of Lough Foyle by
bad weather today.
Upon advice of meteorologiSts,
Gen. Italo Balbo, air minister and
commander of the flight, postponed
until tomorrow the takeoff on a
dangerous flight to Reykjavik,
third hating place on the seven
stage 7,100 mile flight from Orbe-
tello to Chicago.
Imperial Valley press., 1933-07-03
Deny NelO Trials
To TUo Slayers

LOS ANGELES, July 8. U.6-
The district court. OF. appeal today
refused to grant new trials to
Homer D. Rogers and George Henry
Turcott, accomplices of Dallas
Egan in the Staying of w. j. Kirk
patrick, wealthy Battle Creek, Mich,
visitor to the Olympic games, dur
ing a jewelry store holdup last
July.
? Rogers and Turcott. are under
sentence Of life Imprisonment.
Egan, sentenced to hang, was de-
MED a new trial by the state su-
preme court last week.
Imperial Valley press., 1933-07-03
CUBAN STORM
REPORTED AS
SEVERE ONE
Much Property Damage and
Some Loss of Life According
to First Messages
CYCLONE NEAR CHICAGO
Nearby Suburbs Suffer Consid-
erably From Heavy Winds
Over Weekend
By GUILLERMo RODRIGUEZ

ny OUlLLEh4nO hODhlOOEL
United Press Staff Correspondent
Copyright, 1893, BY United Press
PINAR DEL RIO. Cuba, July 3.
-(By Telephone to Havana) = A
severe unseasonal hurricane which
struck the western end of Cuba
early today caused heavy damage
and some casualties, a survey in
dicated after the storm subsidized.
1t lasted from IL O'Clock last
night until 4 a. m. Casualties re-
ported SO far included one man and
one woman killed and six injured
in the Rio Seco neighborhood OF
this city. Complete reports were
not available from the surrounding
district.
Considerable material damage
was reported, with several houses
blown down and store windows
smashed. Advices from Provincial
Point reported great crop damage,
especially to tobacco. No commun-
ication with Coloma had been es-
tablished shortly before noon be-
cause felled trees blocked the road.
1t was reported the storm struck
with great force in the Cape San
Antonio section, where it was feared
casualties occurred.
CHICAGO, July 3. U.P)-Damage
of more than $1,000,000 was count
ed today from a violent hail and
windStorm of cyclonic intensity
which struck western Chicago yes
terday.
Business buildings, houses and
scores of trees were leveled. Wheat
on, Glen Elyn, st. Charles, Elgin
and Lombard suffered the worst.
The storm ripped a path 200 feet
wide through the towns, moving
frame structures from their found
ations and flattening nearly doz-
en- larger buildings.
-Four women were hurt when 40
summer cottages near st. Charles
were wrecked. An airplane hangar
at Elgin was moved a quarter of a
mile. Stands at Municipal airport
where the American air races are
in progress, were twisted.
The storm lifted as it approached
the World IS fair, causing only min
or damage.
Imperial Valley press., 1933-07-03
WRESTLE WITH BUDGET

Budget details and monthly war
rants occupied the attention of the
board of county supervisors this
morning at their regular weekly
meeting. The results of the recent
special elections, based on the re-
turns from the county's % conSol-
idated precincts and also from los
absentee ballots were presented to
the board for their valuation,
Imperial Valley press., 1933-07-03
eE!sa e@yER!!S'!s:te,

SANTA MONICA, July 2.
(SpeciaD-Did you ever see
real air races by the world s
greatest flyers? They are
breakfasting in New York and
flying in here for lunch.
Mussolini has a flyer here
who can stay upside down long
er than the American delega-
ton in London. There is the
cutest little German war ace
who cuts out his engine and
does everything in the air with
a dead engine; loops, spins,
rolls. climbs and then lands,
all this with no more power
than congress had the last
session. .
Our army. navy and marine
exhibition was real thrills. My
wife whispered, when see
that it makes me feel that all
of our tax money hasn't been
wasted'. Aviation is just start
ed.
Yours.
Imperial Valley press., 1933-07-03
By LAURENCE S. HASS
United Press Staff Correspondent

Ohtcu ETcSS StaII Correspondent
HAVANA, July g. (U.P)-A violent
hurricane which struck the west
ern coast of Cuba early today pass
ed out northwestward into the Gulf
of Mexico after doing considerable
damage on the island.
The destruction, however, was
not as great as first feared, it was
indicated, when communication
with the stricken Province OF Pinar
Del Ma was restored.
Father Gutierrez LAMA of Belen
College Observatory, believed the
storm did not approach in VOL
ence the disasterous one of last
November at Santa Cruz Del Sur,
on the south coast. He said the
danger to Cuba had ended and
did not think the storm was head
ed for Florida, unless it curved
from its present path.
KEY WEST. Fla, July 3 dip
Southwest storm. warnings were
issued here today following reports
OF a hurricane of gale intensity
which apparently was headed in
this general direction.
KINGSTON, jamaica, July 3.
{U.R-Terrific rains followed in the
wake of a hurricane that struck
here Saturday, and inundated areas
i'll the western end of the island,
disrupting road and railway traf-
fic.
A checkup today revealed no loss
of life. Perhaps 100000 banana trees
were destroyed.
Imperial Valley press., 1933-07-03
Baseball Scores
National League

AT Boston
New York ..-..0l0 OBI 000-5 10 Il
Boston Zoo 600 0O2-2 7 i
schumacher and Mancuso: Fall
lensteln, Zachary, Brown and Ho
gan, Sophrer.
Imperial Valley press., 1933-07-03

LONDON, July 3. U.P)-The chief
European gold countries issued
joint statement today confirming
their "firm intention" of remain
ing on the gold standard at the
present gold PARTIES.
The statement was signed by the
French, Belgians, Dutch, Italians,
Polish and Swiss.
Evening star., 1933-08-06
Scotland and England Watch Actions
OF States on Repeal of Prohibition

LONDON.-On the assumption that
countless thousands of Americans would
like to have bottle or two OF real
Scotch" in their sideboards, pantrys or
cellars as soon as prohibition takes the
count, the liquor trade in this country
is keenly interested in the spectacle OF
State after State of the American
Union dealing the knockout to Vol
steadism.
There will certainly be shout of joy
in Scotland if the drys are unable to
hold the necessary 13 States in line to
defeat expectations.
Warehouses Are Full.
Owing to American prohibition and a
decline of 80 per cent in the home con-
sumption of hard liquor there is an
abnormal supply of spirits in bond in
this country, most of it in Scotland.
According to the latest government sta
tistics it amounts to more than 148,-
100000 proof gallons, of which 1872
100000 reposes in watts or barrels in
Scotland awaiting further orders.
At the present rate of home and
foreign consumption this formidable
collection of "the stuff Largely whisky
is sufficient to meet all requiremnts
for a period Of 10 years even when al
lowing for yearly evaporation of ap-
proximately 100000 gallons.
The decreased consumption of whisky
in Great Britain in recent years is at
tributed to economic causes. The price
Evening star., 1933-08-06
s'Drunken House" Ends
Days as Spite Fence

ROME, Italy-The famous drunken
house" of Foggia, the most extraordi-
nary monument to spite war" in
Italy, is being torn down to make way
for town planning improvements. The
mortar used in building the house was
mixed with wine instead of water.
The drunken house" was built about
1850 by a wine merchant of Foggia
named Antonio Bucci, who wanted to
spoil the view of his enemy, an official
named Don Francesca Saverio Figliolia.
When Don Francesca learned Of Bucci's
plan he notified the wine merchant
that he could not build in Foggia with
out permission from the authorities
whom Don Francesca controlled. A
lawyer, however, told Bucci that If he
could build his house before the au-
thorities served him with formal orders
against 1t he would be all right :.
Bucci then collected all his building
materials and tried to hire workmen.
Don Francesca thereupon forbade all
the local laborers to work for the wine
merchant. Bucci, however, enlisted
master builder named Raho, who had
IL sons to help him, and started late
one MghI TO put up his building. But
Don francesca meanwhile had posted
guards on all the wells in town, and
Bucci couldn't get water for his EnsFsss.
It was then that Bucci had his great
inspiration-he decided to mix the NOR
tar with wine. Bottle after bottle was
poured into the mixture Raho, Bucci
and the IL sons got drunken and
drunken from the fumes and what they
took themselves. They worked furious-
ly all night and by morning had sue
ceeded in putting up building which
was as drunk as they were-a two-story
structure with the proportions of
al:ce Of bread. But 1t spoiled Don
Francesco's view, and has stood to this
T-
Evening star., 1933-08-06

of spirits is too high for the general
run of consumers. World depression has
also made big cut In the amount OF
spirits shipped abroad.
See Chance for Export.
In 1882 the domestic consumption OF
spirits totaled 100000 proof gallons.
But as hard liquor reaches the consumer
in these parts at 80 degrees under proof
the total represented 100000 gallons
or 100000 bottles. The amount OF
export was only 5,398, 1853 proof gallons,
as compared with 100000 in 1929.
With supplies of spirits piling up
many distilleries have curtailed produc-
ton in the last few years, some by as
much as Is to G5 per cent. thereby
throwing many persons out Of employ
ment and greatly curtailing purchases
from farmers. Scotland, with II dis
tilleries, produced less than 10000, 900
proof gallons between March, 1881, and
March, 1882. England. with nine dis
tilleries, and Northern Ireland with one,
produced 81. 1896 in the same period.
Three years ago the Scottish produc-
ton exceeded 20,500,000.
If American consumers are able to
set to work to reduce the Scottish reser-
voir Of whisky the bagpipes in the
Highlands will be bursting with enthu-
siasm, for it will also be regarded as a
harbinger of the return of good times,
and that will mean an army and not q
skeleton force of American tourist Wis
itors.
(Copyright, 1933)
Evening star., 1933-08-06
Denmark Acts to Curb
Illegal Operations

COPENHAGEN, Denmark-1Startling
disclosures in regard to the number OF
illegal operations performed by Danish
physicians in the year have given new
impetus to a drive for the legalization
of certain types of aborticides in Den
mark. A bill which would allow
physicians to perform operations Of this
type when certain social or physical
circumstances appeared to justify them.
will be presented to the next session OF
Parliament.
The conditions prescribed would be
much the same as those stipulated by
Soviet law at the present time. Ad-
vocates of birth-control were encouraged
by the recent trial of DR.. Jersey, a
highly reputable physician who was
acquitted after admitting that he had
performed 500 such operations in cases
where his failure to do so might have
resulted in grave consequences for the
persons operated upon.
At the present moment another
physician named Leunbach is on trial
behind doors, following the death Of
three patients.
(Copyrisht, 1889
Evening star., 1933-08-06
RECOVERY ACT BENEFITS
WELL WORTH THE EFFORT
Planning Through Strong Trade Asso'
Citations Called Cure for Haphazard
Production of Goods.

suits will come about naturally, being
so obviously beneficial. No Government
coercion should be needed in this re-
spect.
National Economic Board.
However, to guide the economic ma
chainery of the country as whole,
and to coordinate the activities Of each
group there should be a super-body or
association of trade associations, which
call the National Economic Board"
On the board would be representatives
of the various trade associations, labor
tive committee.
The functions Of the board should be
as follows
/. Clearing of statistical data (and
in this it can cooperate with other
agencies such as the Department of
Commerce, Federal Reserve Board and
Federal Reserve Banks, etc..
q Formulation Of broad economic
policies, based on statistical work.
8. r-industrial relations.
4. Arbitration Of differences between
various industries.
S. Maintenance Of co-ordinating ac-
tivities with international economic
bodies.
A further function of the National
Economic Board would be to direct
the activities Of a permanent semi
Government organization, which shall
call the public welfare and improve
ment industry. This would not be
makeshift organization hastily thrown
together to spend money, but would be
a permanent part Of our economic
structure, functioning at all times. act
ing as a balance wheel, increasing its
activities during periods OF slow busi-
ness and decreasing them as business
improved.
The activities Of this organization
would be along well planned lines and
would include not only road building
and construction to aid the laborer. but
educational, recreational and other
work to aid all classes, which, from the
point of view of general public welfare,
Is even more desirable. Funds for this
permanent welfare could be obtained
by a tax on business during periods OF
relative prosperity.
Thus, first, by means Of responsible
companies in our major industries,
financially able by right prices not only
to pay good wages, but serve the public
cheaply by means of economic opera
ton devoid of many of the hazards of
present business brought about by rap
idly f1uctuating prices and unfair COM
petition, and, second, by means of
strong trade associations, backed by
Government authority, to enforce pro-
visions for the welfare of the indus
try, and. third, by means of Ma
tional Economic Board" also backed by
Government authority. to coordinate
the activities of the whole and to di-
rect the activities of a permanent
stabilizing public welfare and improve
ment industry, we should be able to
go a long way toward eliminating
periodic distress and unemployment.
(Ccpyright. 1898. by North American News
paUer Alliance, Inc.)