davidaulloa/AmericanStories huggingface dataset:
Evening star., 1933-10-16
BY the Associated Press.

BY the Associated Press,
The following is the text OF Presi-
dent Roosevelts statement on the plan
to lend money to closed banks:
There will be established in the Re-
construction Finance Corporation q
special division to make loans to closeo
banks. The head of this division Will
be C. B. Merriam, member OF the
board of directors of the corporation.
In order that this division may work
in close cooperation with the treasury
Department. the controller OF the cur
rency and the Deposit Insurance Corpo-
ration, it will be administered ny De-
posit Liquidation Board consisting OF
the following:
i. C. B. Merriam, the head OF the
Deposit Liquidation Board.
2. Jesse H. Jones, chairman OF the
Board of the Reconstruction finance
Corporation.
3. Dean G. Acheson, Undersecretary
of the Treasury.
4. Lewis w. Douglas, director OF the
budget. u -,
6. Walter j. Cummings, chairman OF
the Deposit Insurance Corporation.
Borrowing Facilitated.
The purpose of the deposit lquida,,
tion division will be to stimulate ana
encourage liquidating agents OF banks
closed after January /, 1888. to oorro"
from the Reconstruction Finance Cor
poration in order that funds may pc
made available to depositors as quickly
as possible. The general intention Is
to make loans on the assets OF closed
banks for the benefit of depositors up
to a maximum of so per cent OF tnelr
deposits, inclusive of distributions mere
tofore made. This does not. OF course,
mean that in a bank whose remaining
assets are worth less, that the depoS.
itors will get SO per cent. They Will get
in such a case only their share IN the
remaining assets. ,..,
It is not intended that such dlstrl-
buttons will be uniform but that they
will be limited to the orderly nqn-
dation value of assets on which loans
can be made, reserving only what Will
appear sufficient to pay taxes, expenses
and interest during the liqu1datlon
period. In some cases further dlstrl-
buttons will not be possible because
assets remaining in the banks Will not
warrant any further dividends than
those heretofore made. Distributions
in any case will be possible only to the
amounts of the loanable value OF the
Evening star., 1933-10-16
0'C0NN0R TALKS
WITH ROOSEVELT
President Begins Busy Week
After Auto Trip and
Cruise on Yacht.
After quiet week end, the President

After quiet week end, the President
today began another busy week. His
first visitor was j. F. A. O'Connor, con-
troller of the currency, with whom he
discussed a number of fiscal matters.
During the conference. which was
held in the Presidents study, the con-
troller talked principally of the insur-
ance feature of the banking act and
regarding the Presidents declared pur-
posits now in closed banks, under a
plan announced last night by the Pres
ident.
Discusses Hawaii.
The President talked with John Will
son, Democratic national committeeman
for the Hawaiian Islands. and w. F.
Dillingham;, an American business man
in Hawaii. It is understood the Presi-
dent discussed the selection Of COVER
nor for Hawaii as well as other matters
relating to the insular possession. Mr.
Roosevelt sought to change the organic
act during the last session Of Congress
to permit the appointment of some one
from the United States as Governor OF
the islands. This bill was not acted
upon and it is not known whether the
President will pursue his efforts to OBJ
tain its passage. In the meantime, the
selection Of a new Governor has been
held up.
The Presidents week end was fea-
tured by a motor ride to Braddock, Md
and a cruise aboard the presidential
yacht Sequoia The cruise was only for
two hours, but the President. who was
accompanied by Mrs. Roosevelt and a
small party, enjoyed it thoroughly.
Those Aboard Yacht.
Members of the party were Eugene
Black, governor of the Federal Reserve
Board, and Mrs. Black: Mrs. John G
Greenway, who recently was elected
Representative from Arizona; Mrs. Anna
Curtis Dali, daughter Of the President
and Mrs. Roosevelt, and her two chill
dren, "Sistie" and "Buzzie"; Miss Lorena
Hickock, Miss Jane Dickson of New
York and Miss Marguerite LELAND, the
Presidents private secretary.
A magnificently carved cedar chest
arrived at the White House today as 9
gift for the President and Mrs. RooSe-
velt from Alexander Paul of Dayton
Ohio. This present attracted consider.
able attention because of the excep'
tionally fine carving and the interesting
nature of the designs, such as peacocks
birds, oak leaves, acorns and dogs. Tit
chest measured 21a feet high, AZ fee
long and 2 feet wide. 1t rests upol
carved blackened feet.
Evening star., 1933-10-16
Presidents Bank Statement
Six-Man Board Under r. F. c., Will Make Loans to
Closed Institutions in Drive to Salvage
Money for Depositors.

assets which have not already been
pledged or otherwise disposed of.
In cases where the condition Of the
closed bank will justify it, proper con-
sideration will be given to larger dis
tribution than so per cent. More than
one distribution will be made as and II
assets improve in value.
Depositor Aid Aim.
The object of establishing this deposit
liquidation division and trying to
stimulate the distribution of frozen
bank assets is: First, to place money in
the hands of depositors with the least
possible delay, and second, to bring
about more orderly liquidation OF the
assets of closed banks; this will pre-
vent dumping Of assets at sacrlflce
prices.
Special advisory and appraisal COM
mittees will be organized throughout
the country to speed the appraisal OF
closed bank assets where such appra1s-
ais have not already been made by
Government agencies. These commit
tees organized for the appraisal ana
recommendation Of these loans will be
recruited from representative local
bankers, business men and farmers.
IL Is eSLlIldGSo llldt Vic A1AoAiAAtAAAA
available loanable value of the assets
of banks closed during the year 1888
will not exceed 81 900 000,0 900 zone bill
lion dollars, and it is hoped that the
distribution will approximate that
amount. The exact amount that can
be distributed will be governed by the
appraisal of the actual assets OF each
closed bank Until that appraisal Is
made, the amount involved cannot be
more accurately stated.
Speed Urged.
Funds for the liquidation Of deposits
will be supplied by the Reconstruction
Finance Corporation. These funds may
be supplemented later by the Federal
Deposit Insurance Corporation.
I am particularly anxious that this
matter be handled with dispatch and to
that end solicit the cooperation of all
who may have official or other author
ity in connection with any closed bank.
The United States Government has au-
thority over closed national banks and
can speed up distribution in those
banks if those directly interested will
cooperate, but the Government is
without authority over closed State
banks. If delays occur in the case of
State banks, they will be due to reasons
beyond the control of the National
Government.
Evening star., 1933-10-16
LURAY GROUP TO SEE
POLLARD ON WORK PLAN
Employment Need to Be Advanced
at Staunton Conference
TomorroW.

Special Dispatch to The Star.
LURAY, Va, october 16.-A dele
cation of citizens and members of the
chamber of commerce, in addition to
Grover Miller. county clerk; c. E,
Musselman, chairman of the board of
supervisors, and c. G.. Louderback,
member of the House of Delegates
from Page and Warren Counties, will
60 to Staunton tomorrow to confer
with Gov. Pollard and his committee
on a public works program for shen-
andoah Valley.
Page County has no public works
program, and employment on such
projects as are now in contemplation
would employ only about 800 men, if
labor were confined to citizens Of Page
County, which is not the case in
projects such as the Skyline Drive.
Members of the board of supervisors
estimate Page County's unemployed
at 1000.
Evening star., 1933-10-16


some securities. After locking the car,
almost in front of the bank, well
dressed young man stepped up, politely
doffed his hat and before I knew it,
grabbed my bag, jumped into Ford
and sped away. I was so stunned and
frightened I Immediately started for
home stopping on the way to call you"
Can YOU list the stolen articles?"
Fordney asked, handing her pencil and
paper.
Certainly"
He gave a hasty glance at the sheet
she returned and read: One diamond
pendant, certificates for 40 shares OF
Amalgamated Coal and Iron stock, two
diamond rings, keys to the Rolls, So IN
bills "a five and three singles, hand
kerchief, compact and the bag IN Whlch
she carried them.
Did you scream or offer resistance"
he asked, stuffing the paper IN nus
pocket.
mo. I was too frightened"
Your Jewels. undoubtedly, were m
sured," he remarked. "Of course, the
alleged robbery was faked!'
HOW DID HE KNOW?
For solution see Page AS.
Perhaps you have story or proplem S99
vouid like TO submit to Prof. Fordney. II
so send il to him care OF this paper. nc
will be delighted to receive 1t.
Evening star., 1933-10-16
TORNADO KILLS THREE
Another Is Injured in Twister
Near Sayre, Okla.

SAYRE, Okla, October 16 P.-
Three persons were killed, another was
injured seriously and more than S. 900
worth of property was destroyed by a
tornado in small area miles south
east of here yesterday.
Frank Yandell, II, a farmer; his
wife, "a. and his great grandson,
Luther Lawrance, 9, were killed. Nadine
Lawrance, z, was injured.
Neighbors found the victims bodies
200 yards from where the house had
stood Nadine was in the arms Of
Mrs. Yandell
Two other farmhouses were damaged,
cattle and chickens were killed and
crops were destroyed by the storm In
an area about mile long and 100
yards wide.
Evening star., 1933-10-16
WOMEN DEMOCRATS
WILL MEET TONIGHT
Mrs. J. Borden Hartman, National
Conmitteewoman, Will Ad-
dress Body.

Mrs. j. Borden Hartman, Demo-
cratic rational committeewoman from
the District, will discuss THE Present
Administration and It's Recovery Pro-
gram" at the regular monthly meeting
of the Women's Democratic Educa-
tional Council at 8 o'clock tonight IN
the Mayflower Hotel
Mrs. Hartman will be introduced by
Miss Mae Helm, washington attorney
and member of the council. Mrs. Grat-
tan Kerans, president of the council,
will preside over the $50 leading Demo-
Gratis Of the District expected. Men as
well as women have been invited.
The council. which has a member
ship OF about 300 women, has been do
ing effective party organization work
since it was formed five years ago.
Prominent men and women in public
life are obtained as guest speakers by
the council for its monthly meetings.
Evening star., 1933-10-16
Long Is fingered
Bv Reference to
Long Island Blo,0
Senator Offers to s'Man-
tO.Ma,s'' IL suith
Heckler.
BY the Associated Press.

BY the Associated Press.
DONALDSVILLE, La, October 16-
Senator Huey Long. campaigning for
seven new tax measures Is ready to
''man-to-man" 1t with any heckler who
cares to make an issue Of that Long
Island affair"
While speaking here yesterday, the
Senator was interrupted by voice
which called out from the grandstand
of the South Louisiana State Fair:
what about that Long Island
AFFAIR.""
The reference was to hsticuffs that
marked an evening a few weeks ago
when Senator Long was guest at a
Long Island, N Y, club.
The Senator shouted back at the
heckler:
Come down here and I'll man-to-
man it with you. I won't have five or
six men jump on you like they did on
me and then run off. Come down here
and I'll Long Island you
Another voice in the stands was
heard to say:
Go on down, Sam"
But Sam had other ideas, and Sena-
tor Long went back to his taxes.
Evening star., 1933-10-16
LOAN CORPORATION
SAVES S17,S7HOMES
Report Shows 1000 Owners
Were Aided to Negotiate
Private'Loans.

The Home Owners Loan Corporation
reported toda ytt had ayerted fore
closures on homes In the United States
in 1887 cases since the beginning Of
its operations. During the last week
2,451 impending foreclosures on urban
home properties, having . value OF
$6,991 ,006, were prevented as a result
Of its activities, the corporation re-
ported.
In addition to the 1887 foreclosures
averted to date. applications for mort
gage loans numbering 1850, with dollar
volume of s3,167,45e. were withdrawn
after being filed. These represent cases
where the corporation, through its local
offices. has assisted home owners sue
cessfully to negotiate extensions Of ex-
isting mortgages or a. ref1nancing Of
the mortgages outside the corporation.
1,14S Loans Completed.
A total Of 1,148 loans with a dollar
volume of $3,250,097 had been COM
pletely paid out up to October 6, the
corporation reported, and the respective
transactions closed on the corporations
books
Out of this total lib, or 81 per
cent, were consummated by exchange
Of existing mortgages for Home Own
ers' Loan Corporation 4 per cent bonds.
while only 35, or per cent, of all
loans closed represented cash loans.
14,111 Applications Rejected.
Up to October a total of 14111
applications were rejected by the local
Offices of the corporation. This amounts
to 22.1 per cent of the applications
tentatively approved. Among those re-
jected HOOP were ineligible under the
terms of the act, and the remainder
were ruled ineligible after appraisals
had been made by agents Of the cor
poration.
Operations IN the District for the
week ended October 6 showed that
applications approved here that week
totaled 81, representing $511,021 of
mortgages. Eighty-eight applications,
amounting to S454,870, were rejected
before appraisal, and four, amounting
to S31 100, were rejected after appraisal.
Thirty-flve applications, totaling s1el,-
615, were withdrawn.
Evening star., 1933-10-16
ACTION TO RELEASE
=. DEPOSITS RUSHED.
ST, 900, 900, 900 R. F. c.
: Funds Available for Loans
to Closed Banks.
fContinued From First Page)

fContinued From First Page)
January and until that appraisal Is
made the amount involved cannot be
more accurately stated.
1t was estimated, however, he added,
that the maximum available loanable
value of the assets of banks closed dur
ing this year will not exceed $l,000,-
600 900. and it is hoped that the dis
tribution will approximate that amount"
Chairman Jones told newspaper men
the Presidents statement should dis
abuse" the public mind on the amount
of money that could be freed from
closed banks.
Reports have mentioned the figure
at $4,000 900 900 or $4,000, 600, ,ooo," he
said 'but this is Just not in the cards"
Weeks Spent in Preparation.
The Presidents statement followed
weeks of preparation and conferences
with his financial advisers in and out
of the Government. There had been
talk of separate Federal Bank or
corporation to hardle the loans, but this
apparently was discarded because OF
legal difficulties.
While initial funds for the loans will
be supplied by the Reconstruction Cor
poration, the President said these funds
may be supplemented later by the Fed
eral Deposit Insurance Corporation"
Special advisory and appraisal COM
mitteeS will be organized to speed the
appraisal of closed bank assets where
they have not already been made by
Government agencies.
These committees also will recon-
mend loans and will be recruited from
representative local bankers, business
men and farmers.
Creation of the deposit liquidation
division is but one Of the steps the
administration is taking to better the
Nations financial situation.
Cooperation Assured.
The President, only last Saturday,
discussed with Jones and New York
bankers plans for providing banks with
added capital to qualify them for the
insurance deposits fund taking effect
the first of the new year.
The plan involves an increased pur-
chase by the Reconstruction Corpora
tion of preferred stock in banks and
the issuance of capital debentures.
A committee composed of Percy H.
Johnston, president of the Chemical
Bank g. Trust Co.: William c. Potter,
chairman of the Guaranty Trust Co.,
and James H. Perkins, chairman of the
National City Bank, discussed the plan
with the President and Jones after
which Jones said:
while these gentlemen made it per-
fectly clear they were not in a position
to indicate the action the clearing
house would take or the position the
various banks would assume, they as
sured the President Of their desire to
be of assistance to him."
Evening star., 1933-10-16
ACCIDENT RATE HIGH
IN FLIGHT VIOLATIONS
Department of Commerce 1nvesti-
cations Show 81 Out of 228
Ended in Mishaps.

Eighty-seven of the 228 flights in
volving reported violations of the air
commerce regulations during the first
six months of this year resulted in
accidents.
Department Of Commerce investiga-
tions show that the 228 flights involved
a total of 345 flight violations, II OF
which were low flying, sc acrobatics,
% the flying of licensed planes by un-
licensed pilots, Is lack of proper lights,
IL flying without Identification num-
bers, IL having dual controls connected
during passenger flights and f41 mis-
cellaneous.
The miscellaneous violations included
conduct contrary to public safety, dy-
ing unlicensed planes in interstate COM
merce, traffic violations at airports, vio-
lation by students Of the terms Of their
permits, carrying by private pilots of
passengers for hire and overlooking
Of planes.
In dealing with the 345 violations
the department assessed % civil penal
ties administered 48 reprimands, IS
suspensions and Is revocations of Ii
censes, denied license to six applicants
and dismissed the charges in 81 cases.
Evening star., 1933-10-16
JOHNSON'S STRIKE
REMARK ANSWERED
Matthew WoII Disagrees With
Generals Economic Sa-
botage" Characterization.
BY the Associated Press.

BY the Associated Press.
The Characterization of strikes as
economic sabotage" by Gen. Hugh s.
johnson, NJ r. A. head, in q speech
last week before the American Fedora
ton of Labor, brought a reply last
night from Matthew Woll, third vice
president Of the Federation, who dis
sented strongly from Johnson's views.
In q letter to Frank Powers, presi-
dent of the Commercial Telegraphers'
Union. Woll said that labor, while
sympathetic with the N r. A., must
dissent from its policy If it includes
Government control over the relations
between labor and employers.
Woll asserted that, while industry,
"being machinery and money, credit
and materials, is a proper field 1or
regulation in the service of humanity,
humanity itself is quite another
matter"
Would Destroy Self Government.
ITO say that we shall have govern
mental participation, and control and
veto power in unions and then to say,
as the general did. that this will per
nit the widest possible latitude OF
self-government' is a contradiction in
terms that must be obvious" he said.
Labor supports and battles for In
dustrial self-government, seeing therein
the hope of the future. But the force
full measures suggested by the general
would destroy f-government and
bring the whole structure of industry
under the domination of a state that
would have little to mark 1t apart from
Fascism."
VOL said that labor could not agree
that strikes are economic sabotage"
I'VE do not want strikes" he con-
tinued. I'VE have urged our unions to
use the strike only as the last res0t.
We have urged self control, resort to the
National Labor Board. to every possible
means, before a strike is called.
Should Be Final Resort.
"Stoppage of work, we all agree,
should be the final resort when oppres-
sion becomes unbearable and when all
other agencies fail. But there must be
no word or rule that limits the right OF
men and women to ease, work for any
reason or for no reason. The practice
may be frowned upon, but the right
must remain inviolate and inviolable:
We support NJ R. A. as movement and
as individuals. We allow no one to cast
aspersions upon our patriotism. and we
shall not allow patriotism to become
confused with the protection OF funda-
mental rights"
"I think we should interpret N. r. A.
in the light of its own language" Vol
added. To-day the harmful strikes are
those of employers refusing to obey more
than easy code conditions. We are head
ing toward a new degree of democratic
practice in industry. The going cannot
all be smooth. Let us not have too many
'verboten' signs en- route"
Evening star., 1933-10-16
ARRESTED IN MURDER

LOS ANGELES, October 16 R-De-
tectiyes took Lyman S. Ward, 26. into
custody at his home yesterday on sus-
picion of killing Townsend D. PAUL, 50,
Aim actor who was found strangled to
death in his apartment October =.
Police said the arrest came after a
check of letters received by PAUL, ap--
parently from Ward. At the time OF
the murder police learned PAUL had
been robbed and said they found some
of the property in Wards apartment.
Evening star., 1933-10-16

They arrived at
the Chalmers home
Just a few seconds
before the attrac-
tive widow drew up
with a screeching
of brakes a n d
jumped out of her
s-Royce sedan.
Seated in the
drawing room she
told her story. Il
left here alone at
1870 for the bank,
it was the chauf-
feur's day off, to
place, in my safe
deposit box, the
Jewels I wore last
night at the Van
Evening star., 1933-10-16
FARM MOVE LAUDED
But. Speaker Says, Uninitiated Only
Aggravate Rural Troubles.

DOYLESTOWN, Pa. October 16 (P).
Unless they are equipped with labor
saving machinery and know how to
farm flight from city to country offers
no economic remedy for the unem-
ployed. Herbert D. Altman. president OF
the National Farm School. said
yesterday.
Addressing the thirty-sixth annual
meeting of the school, Altman COM
mended the "back-to-the-farm" move
ment for those fitted by temperament,
training and sufficient economic
backing
Unframed in farming. enthusiastic
pioneers at best exc out only bare
living and aggravate overproduction
difficulties, he said
Evening star., 1933-10-16
Pope Names Delegate.

VATICAN CITY, October 16 (R.-
Pope Plus granted audience yesterday
to Msgr. Marella, apostolic delegate to
Japan. Up to now Msgr. Marella has
been auditor Of the apostolic delegation
at Washington.
Evening star., 1933-10-16
Oyster Supper October 20.

SANDY SPRING, Md, October 16
(SpeciaD The annual oyster supper
served by the ladies of Ashton NJ E.
Church, with Mrs. Marcus Daley in
charge, has been announced for Oc-
Evening star., 1933-10-16
| MIRA. Activities
National Labor Board Views
Disputes of Various
Nature Today.

BY the Associated Press.
Today.
National Labor Board considers va
rious disputes.
Yesterday.
Matthew Woll, vice president Of the
American Federation Of Labor, took
issue with Hugh S. johnson on Govern
ment control of labor-employer rela-
tiOuS.
Evening star., 1933-10-16
MI | INu TE
|CGA Gan You, Y;4
|SOLN0Hee@ E 4
The Chalmers Case.
BY III. A. RIPLEY.

I@ OBBERY! Let's go, Fordney,"
~ exclaimed Inspector Kelley
"A as he hung up the receiver.
Mrs. Chalmers is big
shot socially and if muf
this 4"
The professor noted that it was ex-
ok n m
Evening star., 1933-10-16

perhaps you have story or problem you
vouid like 10 submit to Prof. Fordney. II
60 send il to him care of this paper. he
will be delighted to receive IT,