davidaulloa/AmericanStories huggingface dataset:
Imperial Valley press., 1933-02-27
BY JAMES C. AUSTIN

DETROIT, Mich, Feb. 27.-Hen-
ry Ford, outspoken enemy of Wall
Street financiers, became one OF
Detroit's biggest bankers today
when he stepped into the city's fin
ancial crisis and was accepted as
the dictator of two of the automo-
bile capitals important banks.
Ford will put S8,250,000 into the
First National bank and the Guar
dian National Bank of Commerce
TO enable them to reorganize and
reopen under new names, accord
ing to plans worked out at series
of Sunday conferences. Federal
banking authorities were reliably
reported to have approved the
plans, and the new banks may open
for business by Wednesday.
Under the reorganization plans,
Ford and his son, Edsel, who was
one of the powers in the Guardian
Bank Of Commerce group, will have
complete authority ;. over the new
banks which will be prepared to
pay 35 per cent to depositors in
cluding 5 per cent previously auth
orized. Eventually it is planned to
merge the two institutions.
Members of Ford's organization
took pains to emphasize that the
reasons the FordS had refused to
cooperate in group attempts to re-
Oraginze the banks was that Henry
Ford did not agree with the poll
zinc of tba I,o f,lorc ,,,.,n I,oJ t,aap
in control; that his ideas were 80
revolutionary that he saw little
hope of having them adopted by a
bank board of which he would be
but one member; that he believes
the banks first function is to pro-
vide place for safe deposit; and
that bank loans should be made
for productive and not speculative
purposes"
The reolg ganized First National
bank will be called the Peoples Ma
iional. Ford will put $5,625, 900 cash
into it as capital, will have COM
plete control of its voting stock
The Reconstruction Finance Cor
poration will lend it S54,OO0,00O.
Follows Moratorium
Previously it had been hoped
that $1oO,0O0,OO0 would be obtained
from the r. F. c., making possible
a so per cent limitation on de-
posits instead of 35 percent which
Fords regime will impose.
The Guardian National Bank OF
Commerce will become the Manu-
facturers National bank Ford will
provide $2,625 900 capital and the
r. F. C. will lend the new bank
$24,000,000 under the plans worked
out.
When Governor William A. Com
stock declared an eight day mora
torium for Michigan banks, which
ended last Thursday, he charged at
first that Ford's refusal to Subor-
dinate his deposits had forced the
action. Later he retracted. explain
ing he had misunderstood Che Sit
uation.
Directors and stockholders of the
old banks approved the Ford offer
on the Ford terms late Sunday.
With the affairs of the First Ma
tional and the Guardian taken
care of, other banks in Detroit and
the state at large were believed to
be in a position to resume business
on mere nearly normal basis than
has been possible in view of the
uncertainty over the future of these
institutions.
Imperial Valley press., 1933-02-27
BY THOMAS p. MALARKEY
limited Press Staff CORRESPONDENT

SACRAMENTO, Feb. 81. - The
perennial problem of taxation-on-
ly far more acute than in past ses-
sions-faced California legislators
as they returned today prepara-
tory to the opening Tuesday of the
last half of the 5Oth legislative ses-
sion.
Assemblymen and senator's arrived
singly and in groups. They were
refreshed after the 30-day consti-
tutional recess and eager to wade
through what is perhaps the mos5
complicated and contradictory mass
of bills ever introduced in Cali
fornia legislature.
Distractions which retarded leg
islation in the first session will not
be evidnt at the outset. The Rolph
recall was repeatedly "bogged
down. The Inman senatorial in
Imperial Valley press., 1933-02-27
s PLANS
REMAIN SANE

TOXIC, Feb. 81 U.P)-Secretary
Stimsons declaration of American
policy, which in general comedies
with the League of Nations in
condemning japanese action in
China. will not change Tokio's pro-
gram a spokesman for the gov
ernment said today.
Mr.. Stimson's note, he suggested,
did not sound like the secretary s
usual state documents, and he was
constrained to wonder whether it
was actually written or suggested
by the incoming secretary, Cordell
Hull.
GENEVA, Feb. 27. W.P)-Fear that
Japan might withdraw from the
disarmament conference as we'll as
the League of Nations was dispelled
today when japanese delegates took
their seats at a meeting of the
committee on air ornaments.
The Japanese took no part in
the discussion, however.
Imperial Valley press., 1933-02-27
BY RANDALL GOULD
United Press Staff Correspondent

PEIPING, Feb. 27.-SiX Manchu-
rian cities were recaptured from
the Japanese in a counter revolt
spreading through the provinces of
Kirin and Heilungkiang, it was re-
ported today.
American consular officials re-
ported from Mukden that Japanese
sources there forecast the complete
clearing up of difficulties" with
the Chinese in Jehol within a week.
Fleeing irregulars were being pur-
sued by airplanes, the Japanese re-
ported They claimed the capture
OF Suiting, near the eastern border.
The japanese in Mukden, the re-
ports indicated, reiterated Japanese
statements esewhere that military
operations would not be carried on
in North China, beyond the Man
curian border, unless Chinese forces
III Jehol took military action"
against the japanese forces.
Imperial Valley press., 1933-02-27
SWANSON AND
(: ICKES NAMED
By FREDERICK A. STORM
United Press Staff Correspondent

HYDE PARK, N. Y, Feb. 81. -
President-elect Roosevelt today an
nounced selection of Harold Ickes
of Chicago to be secretary of in
terror, and of Senator Claude
Swanson of Virginia to be secretary
of navy.
Their selection as members of
Mr.. Roosevelt's official family was
anticipated, and the declaration
that they had consented to serve
in the new administration occa-
stoned no surprise.
II like the cut of their jibs," was
the only comment the President
elect offered.
Only three more cabinet names
remain to be announced by Mr..
Roosevelt, who yesterday confirmed
the appointment Of Henry A. Wal
lace of Iowa to be secretary of ag-
riculture and James A. Farley of
New York to be postmaster gen.
eral.
Imperial Valley press., 1933-02-27
Planes Take Food
To Mining Camps

LOS ANGELES, Feb. 81. U.Pj-
Sixteen men, women and children,
isolated in six mining camps in the
desolate Timpahute section OF
southeastern Nevada, today en-
joyed feast of provisions brought
in by air, after facing possible star
vation because snow blocked all
roads.
The food was dropped by West
ern Air Express pilots who flew
over the camps, although rs miles
off the regular course between Los
Angeles and Salt Lake City. The
airplanes were delayed an hour.
Pilots reported it probably would
take three weeks to clear the two
main roads leading into Tonopah
and Ely, New, from the snowbound
camps.
Imperial Valley press., 1933-02-27
Maryland Solons
To Assist Banks

BALTIMORE, Md, Feb 81. UP
Emergency legislation restricting
Withdrawals of deposits from
Maryland banks was whipped into
shape today for presentation to the
state legislature tonight.
Quick passage of the measure is
expected to open the way for re-
sumption of business by Maryland
banks which closed Saturday un-
der three day holiday proclaimed
by Governor Ritchie.
Imperial Valley press., 1933-02-27
Bay Cities Bridge
Project Started

SAN FRANCISCO, Feb. 81 U.R)
"A crowd of 100000 persons mass
ed Crissey field here yesterday
when a golden spade broke ground,
Signalling start of the S35, 100000
Golden Gate bridge project.
High officials of federal, state
and city government attended the
ceremonies. made elaborate by a
four-hour spectacle of pageantry
The navy, army, ex-service groups
and civic organizations joined in
the celebration.
Imperial Valley press., 1933-02-27
GOVERNMENT SUES STAR

HOLLYWOOD, Feb. 27. (U.P)--
Gloria Swanson. whose name has
figured in court proceedings often
recently. faced new financial trou-
bles today An income tax lien was
filed again her In United States
district court for 9,425, alleged
to be due for 1881 taxes. Friday q
judgment against Miss Swanson for
$37, 500 was awarded Maurice
Cleary, theatrical agent.
Imperial Valley press., 1933-02-27
Miners Union
Patches Breach

SPRINGFIELD, ILL.,, Feb. 81. <U.P)
One of Americas historic labor
controversies - the long standing
and bitter breach between the H.
linois district of the United Mine
Workers of America and its inter-
national officerS-was settled to-
day.
John L. Lewis, international pre-
sident OF the coal union, announced
his organization had been invited
by unanimous vote" of the district
board to assume direction of its
activities
Imperial Valley press., 1933-02-27
Public Inuited To
Talk On Taxation

All Ell Centrans, whether club
members or not, who are interested
in the taxation program of the
California State Chamber of Com
merce, are invited to attend the
Lions club luncheon tomorrow noon
at the Barbara Worth hotel.
At this time John Luther of the
state chamber OF commerce will be
present to discuss this program. c..
H. H. Small, president of the club.
received this news this afternoon
and wishes to extend an invitation
to residents OF the city to hear Lu-
ther.
Imperial Valley press., 1933-02-27
JAPAN WARNS
RESIDENTS IN
TROUBLE AREA
Planes Discharge English Pam
phlets Advising Of Intended
Land And Air Attacks.
CHINESE CLAIM VICTORY
Announce Recapture OF Six Inn
portant Cities Formerly Held
By Japanese Forces.
By HERBERT r. EKINS
o;tn,I rrocs STAFF Correennndeuf

United Press Staff Correspondent
Copyright. 1883, by United Press
LINGYUAN, BY COURIER TO
CHENGTEHFU, Feb. 27.-Japanese
airmen, advance scouts of the army
sweeping over southeastern Man
churia, today dropped leaflets in
English warning all foreigners to
evacuate the province or suffer the
consequences.
Over this tense city of $1,000,
half way between Chaoyang, which
is now in the hands Of the Japan
ese, and Chengtehfu, capital OF
Jehol, the Nippon airmen scattered
bales of precautionary pamphlets,
warning of impending raids by air
and land.
CHINGCHOW, Manchuria, Feb.
27.U.P)-Major Heijiro Harrotfs
Fourteenth Infantry brigade occu-
pied the strongly defended Chinese
town of Paishihchumen, near Taya-
okao on the southern Jehol border
at 8 a. m. today following a Wig
orous offensive.
Stubborn resistance of Marshal
Chang Hsueh-Liang forces slowed
the advance of Major HarrotiS
troops, but the drive continued
moving into the province, toward
Jehol City.
TUNGLIAO, Manchuria, Feb. %.
U.P) (Tuesday) = Three thousand
Chinese soldiers have been killed
since the start of the Japanese
Manchukuo general offensive into
Jehol province, japanese military
offices announced today.
Intensely cold weather has proved
almost as serious handicap as
bullets, with temperatures hover
ing around the 80 and 40 degree
below zero marks. Nearly 200 SOL
diers, many of the Japanese, re-
turned from the battlefront during
the night to receive treatment for
frost bite.
No announcement was made con-
cerning the number of japanese
and Manchukuoan troops killed in
action.
Imperial Valley press., 1933-02-27
SARAZEN IN LEAD

MIAMI, Fla, Feb. 81. U.R)-Vic-
torious over the first 36 holes, Gene
Sarazen, British and American
open golf champion. today contin-
ued into the second half of his 72-
hole match with Olin Dutra, Cali
fornian, at the Miami-Biltmore
country club. He beat Dutra up
yesterday.
Imperial Valley press., 1933-02-27
Pneumonia Fatal
To Film Comedian

HOLLYWOOD, Feb. 27. (U.P) -
Walter HERS, rotund motion pic
ture comedian, died today of double
pneumonia.
HERS was 80.
Born in Cordele, Ga, he was a
featured comedian with Paramount
studio for nine years, later with
Christie studios.
He returned to Los Angeles two
weeks ago from vaudeville tour.
A cold contracted on the trip
developed into double pneumonia
after his return.
Imperial Valley press., 1933-02-27
A.MllL
tWyR@s9}s!;fR

SANTA MONICA, Feb. 26.
(SpeciaD We never had a
greater example of why there
will always be war than we are
having right now. Twenty-one
nations of the league denounce
Japan's Chinese invasion, also
the U. S., while not a member,
also agrees with them. Now all
in the world they got to do to
stop it instantly is to agree not
to trade with an aggressor ma
ton. meaning Japan. But they
won't sacrifice their trade just
to save bloodshed
The league has got the wea-
pom to stop the war, but try
and get the nations to give up
that trade. What are a few
thousand dead Cinnamon COM
pared to Japan as a cash GUS
toner.
Yours,
Ak& Ro7~~
O,s,, AcNaught Syndicate, Inc.
Imperial Valley press., 1933-02-27

The poultry experiment station
at Glendale, Arizona, is running
tests in electric brooder efficiency
in houses VS.. tents.
Evening star., 1933-10-24
LIVING COSTS EXCEED
SAME PERIOD IN 1892
Special Dispatch to The Star.

Special Dispatch to The Star.
MINNEAPOLIS, October 24.-For the
first time since 1929, cost of living is
above the corresponding figure for a
year previous, says the current con-
sumers' study, made monthly by In
vestors' Syndicate. The figure for the
month Of September is up IL per cent
over September, 1892. 1t is, moreover,
up 1.3 per cent over August of this year.
The latter gain would indicate that the
rate Of increase in cost of living is
slowing up, since August showed 80
per cent increase over July.
This gain should be absorbed, accord
ing to the report, since wages have con-
tinued their upward course and now
stand 40 per cent over the figures for
September of last year. Partially OIL
setting this, however. is decline IN
investment incomes from year ago. the
latter index standing Ills per cent
below that for September, 1892.
Evening star., 1933-10-24
CORPORATION
REPORTS
TRENDS AND PROSPECTS OF
LEADING ORGANIZATIONS

NEW YORK, October 24-Following
is today's summary Of corporation news
prepared by Standard Statistics Co.,
Inc, New York, for the Associated Press
International Printing Ink Corpora
ton net income, months ended Sep
tember 80, was $62. 2.309, equal to s1.15
a preferred share, VS.. deficit, 5,013.
Goodyear Tire & Rubber Co. de-
clared q dividend of so cents on first
preferred stock; on October 2 a similar
distribution was made.
International Cement Corporation de-
ficit, 9 months ended September 80, was
1922 ,922, VS.. deficit, $1,27s.668.
North American Cement Corporation
deficit, IL months ended September 80,
was $841,279, VS.. $s69,s74.
Mathieson Alkan Works common
share earnings, months ended Sep
tember 80, were $1.27, VS.. "a cents.
Lehigh Valley Coal Corporation def
cit, 8 months ended September 30, was
$4l9,416, VS.. deficit, $l,306, ,493.
Virginia Iron, Coal q Coke 20. oenclt
8 months ended September 80, was
$751; $40, VS.. deficit, $52,5S4.
General Refractories Co. net income,
o months ended September 30, was
$40, 400, equal to 16 cents q common
share, vs.. deficit, $685., 1893.
Lambert Co. common-share earnings,
9 months ended September 80. were
$2.44, VS.. $4.2s.
Sutherland Paper Co. declared Two
dividends Of 10 cents each on common
stock; last previous distribution on
common stock was 10 cents on January
30, 1882.
Committee of Eastern rail presidents
announced that 1t has been determined
to make no changes in basic passenger
fares at this time, but to make such
special rates as will tend to attract an
increased rail- travel.
Evening star., 1933-10-24
|ST0CKS co HIGHER
| IN FINAL TRADING
Prices Surge Upward Vio-
Iently on Outlook for Gold
Purchases by U. S.
BY GEORGE T. HUGHES.

special Dlspatch TO The Star.
NEW YORK, October 24-Convinced
that the price to be offered for gold
in tomorrow's statement by the Gov
ernment would be much above the
world price, the stock market today
surged upward violently in the last
half hour of trading.
Previously to that the gold stocks
and the metal shares, together with
some other commodity issues, had been
In urgent demand while the rest of
the list moved hesitantingly and much
OF the time ranged lower In the clos
ing transactions, however, the whole
market pushed ahead, rails, utilities
and industrias.
Up to late in the session the turn
over was moderate but it increased
rapidly toward the end and the tape
fell as much as seven minutes behind.
Foreign Exchanges Help.
What weighed most heavily with
traders was the strength in the foreign
exchanges, and especially in the French
franc, representing a corresponding de-
probation in the dollar. In the late
afternoon francs were up 20 points and
sterling up 9si cents. This was euuiva-
lent to about 67.8 cents for the dollar.
feature was the way in which the
railroad shares were taken up in the
late dealings. Both the rail stocks and
the speculative bonds were actively
bought, although intrinsically they have
little inflationary possibilities. United
States Government bonds were heavy,
as was to be expected under the cir
cumstances.
The stock market opened somewhat
higher, but after the overnight orders
had been executed the main body of
stocks parted company with the gold
shares. The latter group advanced Wig
orouSly under persistent demand, but
pivotal lnduStrials and utilities were dis
tlnctly reactionary. Weakness cropped
out In the liquor stocks, particularly
National Dlstillers. American Telephone
was under pressure and came down 2
or points. Steel common, General
Motors, Atchison ana New York Gen.
trail were heavy.
Center of Buying.
The buying centered around Alaska
Juneau, Dome Mines and McIntyre-
Porcuplne. Homestake Mining, which
went up 40 points yesterday, added II
more points to the gain early today.
Stocks OF companies interested in gold
IN one way or another, such as
Noranda Mines and United States
smelling, were very strong. The cop
per shares did better but were not as
active.
Opinion abroad continued to be that
imitation In the United States was more
probable under the proposed new ar
rangement. regardless of protestations
TO the contrary. This was the story
tod by the foreign exchanges. The
franc in London was weak, rejecting
the fall of the French cabinet. but the
franc in New York was up points and
sterling on this side advanced cents
against a rise Of 10 cents the day be-
fore OF all three currencieS the pound
was the strongest. For the moment
the flight Of capital" tends toward
London.
Evening star., 1933-10-24
ST. LOUIS PLANS FUTURES
IN BUTTER AND EGGS
Special Dispatch to The Star.

ST. LOUIS. October 24.-St. Louis is
to take up butter-and-egg trading on
huge scale.
A market for futures, spot and ito
arrive" dealings in these products will
be established January / by the st.
Louis Merchants Exchange, where
grain has ruled supreme for nearly 100
years. Officials of the exchange said
they believed the establishment of a
market for butter and eggs in st. Louis
with its centralized geographical loca-
ton, would help farm wives and all
other producers, as well as jobbers. dis
trlbutors and consumers, throughout
a great part of the Nation.
Inauguration of the trading will
mark the establishment of the third
market in this country for futures
trading IN butter and eggs. Although
the latest available figures, for 1880,
showed that these products sold for a
total Of $1,043, ,190,086 on the market
that year, the only futures markets at
present are at Chicago and New York.
Evening star., 1933-10-24
U. S. TREASURY POSITION.
BY the Associated Press

r.o The position Of the. Treasury October 81
S53.559,977.40; balance, Sq19 I65.4o5 %;
customs receipts for the month. S22,73I,-
Receipts for fiscal year to date. $3.50 4o6.-
500 90 expenditures. Sl.2g4. SS5.313 5s in
cIuolng S36U,l34, ,US6.1O emergency eXpendi-
.Ui 5S -
Receipts for october 81. 1892 comparable
S2u9ud11l.6i' net balance, SSl315i,.
s24 q! custom receipts for the month, SIS.
424,1ISG9 0'
Receipts for fiscal year, S5244S6.133 90:
expenditures. S1.119. $50 91I .04: excess of
expenditures over receipts. S595.134 81 J. 4,
GIusIve OF S343 4O.230.96 expended for
the Reconstruction Finance Corporation
Evening star., 1933-10-24
3ss Zonito PRODUCTS. So IA,
Sales Of Stocks on New York EXCHANGE

Saes OF Stocks on New York Exchange
11:00 A.M...... 100000 1900 Noon 100 oon
IN $4,000 200 P.M.......
Dividend rates given the annual cash
payments tased the latest
unit OF trading than tPluS
4@ in stock Paid last PAYABLE in
IN cash
h N' '-N'"N ="
Evening star., 1933-10-24
NEW YORK BANK STOCKS

NEW YORK, October 81 1Pl.-over-the-
counter market.
Quotations as of $50 pmD
Evening star., 1933-10-24
NEW YORK PRODUCE.

NEW YORK. october. "a tP.-Butter
20.O3O; steady and unchanged. Cheese
Dressed poultry steady. Chickens. fresh
1Oa22; turkeys, fresh 10a25; frozen. 15a25:
changed.
Live poultry slow. All freight grades un-
changed; express: chickens, broilers. fowls
and ducks unquoted; roosters. 8; turkeys
l6a20.
Evening star., 1933-10-24
Dairy Program Announced.

CHICAGO October "a (R.-H. C.
Darger general manager of the feder-
ally financed Dairy Marketing Corpora
ton, announced the Government will
launch its Nationwide purchase of
surplus stocks of creamery butter Thurs
day. The agency has $3O,OO0,0O0 Of
United States funds to draw upon.
Evening star., 1933-10-24
RAILROAD EARNINGS

NEW YORK, october "a (R.-The
Erie Railroad today reported Septem-
Der net operating income of 81 ,489. $50.
compared with S951,2 ,231 a year ago
Gross was S6,827,873, against S6.280.9 .947
Net operating income of the ST.
Louis-San Francisco System was S4O7.-
05o, as compared with S542 727 in Sep
tember, 1882. Gross was also lower,
totaling s3,584354, against s3.745,344
Evening star., 1933-10-24
SILVER QUOTATIONS.

NEW YORK, October "a P).-Bar
silver steady, Is lower at 371a.
Evening star., 1933-10-24
FOREIGN EXCHANGE.

Quotations furnished By w. B. Hibbs co..
Nominal gold Selling checks
Evening star., 1933-10-24
SHORT.TERM SECURITIES,

Reported BY Chas D. Barney Coz
Allis- Chalmers Co. IS 1897 sSH. az
American Beet Sugar 6S 1913 ~ ~
Amer Tel. & Tel. 5as 1913 107I. 1oS
Am. Wat. Wks. & FL IS 1894 q6Ts QSK
Belding Hemingway IS 1896 9S 10oa
Bethlehem Steel Co. IS 1886. 90 99I
California Packing 5s 1910 Syh S4is
Canadian Nor. Ry 4Hs 1895 I0II 16I Il
CheSa & Ohio Ry. IS 1899 lO63s 107
Chi. Northwest Ry. Gas 1886 ~ S0s.
Chicago Rock Island As 1884 i6b ia"
Colorado & So. Ry 4h2s 1898 20 "a
Delaware 4 Hudson IS 1885 SS6" S6 es
zen. q no Grande 1as 1895 49,. 45s
Go!son Eiee. IuYm. As 1899 101?4 103
Gen. Public Service .51ss 1889 70 se
Grand Trunk Canada IS 1895 1O37s 104h
fIiinois e CENT K. K +. efss 1855 1855 81, sS
Keystone Telephone 5s 1895, - ;9h
Laclede Gas Light IS 1894 s61s g3
Lake Erie g. w. r. r. SIS 1887 sos S7K
Louisville 6<Nashville 5s 1897 1887 IO4
New York Cent. & H. As 1884 S512 S7A
n. z, Chi. & st. L. As 1887 1872 S2ss
Northwest. Telep. AIS 1894 9ga4
Penna. r r. Co 6hs 1886. 104I2 lO434
Republic Iron & Steel SIS 1910 sIH S51z
Sinclair Cons Oil Co. Is 1887 1919 103
Southern Pacific IS 1884 S5ss 50
Union Oil Co. Calf. 5s 1885 1914 1919
Virginia Ry. & Power IS 1894 l007s l0lh
Wabash Rwy. Co. IS 1939... 66A 50