davidaulloa/AmericanStories huggingface dataset:
Evening star., 1933-03-19
.SOV|ETRECOGN|T0N
AWAITS ROOSEVELT
Action in Senate May Be De-
ferred for Administra-
tionS Views.
BY the Associated Press.


The question Of recognizing Russia Is
to be raised again soon in the Senate,
but may be deferred until the Roose-
welt administration expresses its ideas.
To Senator william E. Borah Of
Idaho, former Republican chairman Of
the all-important Foreign Relations
Committee. the best course to be pur-
sued in the immediate future is to wait
on a statement of White House policy.
Although President Roosevelt Is
withholding comment, the belief Is
growing in some Capital circles that
the Moscow regime Is being looked on
with more and more friendliness.
Borah has advocated recognition Of
Russia for 10 years and Is now sponsor
ing brief, 18-word resolution that
would put the Senate definitely on
record in favor Of it.
Resolved, That the Senate Of the
United States favors the recognition Of
the present Soviet government Of Rus
sia," it reads.
For this resolution, which he has Just
reintroduced, he has no immediate
plans.
Il think it might be best to wait for
the administration to express tts
policy" he explains.
Evening star., 1933-03-19

in bonds and notes was all that was
needed to support the $500, ,000, 900
Of Federal Reserve notes.
The new Federal Reserve bank notes
need no gold for backing, since they
are issued ON bonds and other collateral
deemed sufficient by the Federal Re-
serve Banks. Three billion or more
could be issued in this form Of money.
But the more gold in the banks the
greater the possible issuance Of Federal
Reserve notes and the less need there
would be for the new money.
Gold in itself cannot now be used
for hand-to-hand money. For that
matter. up to the bank holiday, the
United States was the only major nation
which freely coined gold for the public.
In France, Belgium, Holland and
Switzerland, the remaining free gold
standard nations, gold Is kept only In
bars worth about So, 900 each.
No one knows how much gold there
IS IN the world. Authorities estimate
that since 1892 some $22, ,0O0, ,0O0, 900
has been brought to some form Of use.
There IS today something more than
$12 600, ,000, 900 held by Government and
central banks. Billions more are In the
form OF gold ornaments. Other BILL
lions are In huge boards in the Far
East.
About 100000 900 troy ounces Of
gold have been mined since 1892.
Evening star., 1933-03-19

lected as chairman Of the meeting.
Thomas P. Morgan, jr, was chosen Sec
retary.
Col. Cooper indicated he would select
his Reorganization Committee, of which
he Is to be the chairman. from among
the following: Mr.. Ellis, David B. Har-
rick, Charles A. Baker. N. I. Urdong,
William L. Clarke, Judge Luke G.
Strider, Eugene Adams, former Gov. E.
F. Morgan Of West Virginia, Percy
Thompson, william H. Sholes, Harry K.
Boss, Mr.. Morgan, William Green, presi-
dent Of the American Federation Of La
Dor; DR.. George Tu1ly Vaughan and e.
c. Dawson
After the resolutions had been passed
Mr.. Morgan called for rising vote of
confidence in Col. Cooper. A large ma.
jority Of the depositors stood up.
The meeting was closed with a selec-
ton from the orchestra.
Evening star., 1933-03-19

below what they regard as the budget
estimates. the total is $117,820, SOS less
than recommended by Mr. Hoover in
his budget message. This increase over
the Hoover recommendation Is boosted
to more than $157, 1000, 900 If the So
called defermentS are added
The discrepancy between the calcu-
lations Of congressional leaders and Mr..
Hoover is due primarily to the inclusion
in his budget message in December of
supplemental recommendations requir-
ing new legislation which would have
made possible a reduction Of $127, ,000,-
900 in veterans costs and SIS, 1000 900
in Government salaries. The congress
Sional leaders have ignored these items,
aggregating $182 900 900.
Evening star., 1933-03-19

licenses to them as soon as final details
are completed and within a short time. !"
The Secretary said he hoped that
many banks in addition to the two score
he referred to would be able to follow
the same procedure
He obviously was greatly pleased with
the report OF the action. He held the
list In his hand while he discussed the
subject and expressed his admiration
for the men who had "toed the mark"
and made personal sacrifices to aid the
institutions.
Text Of Executive Order.
The executive order issued by the
President follows:
BY virtue Of the authority vested In
me by section (b) Of the act Of Octo-
Der 6, 1917 go Stat. L., 4lD, as
amended by the act of March 8, 1888,
and section of the said act of March
9. 1888. and by virtue of all authority
vested IN me. I hereby issue the follow
ing executive order:
whenever the appropriate authority
having immediate supervision of any
banking institution located in any State
or place subject to the Jurisdiction Of
the United States. which Is a member
OF the Federal Reserve System and
"AAASAA AAeo AAoe bCCAA ACCIScO Oy the sec.
retary Of the Treasury to resume its
usual banking functions, shall deem it
necessary or advisable in order to con-
serve the assets Of such banking insti-
tuition for the benefit of the depositors
or other creditors, such authority NAV.
In accordance with the provisions of the
applicable laws Of such State or place.
appoint such appropriate ofilcial as may
be authorized under such laws to con-
serve the assets Of such banking insti-
tuition pending further disposition of its
business as provided by such laws.
Must BE Licensed.
This order shall not authorize anv
such member bank to reopen for the
performance Of usual and normal func-
tons until it shall have received q license
from the Secretary of the Treasury as
provided in executive orders Of March
10, 1888"
(Signed)
FRANKLIN d. ROOSEVELT"
Meanwhile. after a meeting between
q group Of Detroit business leaders and
members OF the Reconstruction CORPORA
ton. Jesse Jones, member Of the cor
poratton's board, announced that "the
major difficulties In the way Of provid.
ing banking facilities for Detroit are ap-
preaching settlement
Evening star., 1933-03-19
TENNESSEE BANK DECREE
EXTENDED FOR 80 DAYS
Governor Renews Emergency Holi-
day, but Ruling 1s Not Manda-
tory, Most Institutions Open.
By the Associated Press,

BY the Associated Press.
NASHVILLE, Tenn, March ia
proclamation extending Tennessees
emergency bank holiday for 80 days was
issued by Gov. Hill McAiister today In
order to safeguard the interests of the
depositors' and creditors In the banks
of the State"
The proclamation was explained ut
the Governors office as precautionary
measure to enable the State superin-
tendent Of banks to limit Withdrawals
If such q step becomes necessary. The
holiday is not mandatory and the ma
jority of banks in the State are oper-
ating on normal basis except for Fed
eral restrictions. The bank superin-
tendent, D. D. Robertson, announced
Immediately after the proclamation was
issued that he would issue no new reg
ulations governing bank operations.
Evening star., 1933-03-19
CONSERVATOR REQUESTED
UPON CASHIERS SUICIDE
Official Of New Wilmington, Pa,
Bank Leaves Note Citing $50, 900
Insurance to Help Institution.

By the Associated Press.
NEW CASTLE, Pa. March 18.-Di-
rectors Of the First National Bank of
New Wilmington today asked Federal
Reserve authorities at Cleveland to ap-
point a conservator for the institution
to assume charge Monday.
The action followed the suicide of
Howell T. Getty, cashier. Getty left a
note saying that $4,000 insurance
policy on his life would care for a de-
ficit on bonds held by the bank. Oficials
said depreciation Of the bonds prevented
the bank from reopening on an un-
restricted basis.
The directors announced they ex-
pected the bank to resume business in
full in a short time
Evening star., 1933-03-19
PUBLIC OWNERSHIP
OF FBANKSPROPOSED
Compete "Shaking Up" Also
Urged Before Industrial
Democracy League.
By the Associated Press.

By the Associated Press.
NEW YORK, March 1e.-Public
ownership Of banks or shaking up"
of banking methods was suggested by
speakers at a luncheon Of the League
for Industrial Democracy today.
DR.. Max Winkler. head Of the Amer
lean Committee for the Protection of
Foreign Bondholders and economic ad-
wiser to the Senate subcommittee in
vestigating banking. said that, although
the Nation still believes in the ability
of the Government to cope fully with
the banking situation, a complete over
hauling Of the system Is essential.
Cites South American Bonds.
Bonds of several South American
countries, fioated by American bankers
and held by American citizens, he said,
'are worth today not more than a frac-
ton more than their souvenir value"
Harry w. Ladder, director Of the
league, suggested the Government take
over q large share of banking by con-
solidating the Federal Reserve System
with the Postal Savings banks.
Public ownership" he said, would
reduce the cost Of doing banking busi-
ness. The country would not longer
have to pay bank presidents salaries
ana bonuses OF Sl,zUO,uUU year, b re-
turn exacted by Charles E. Mitchell
during the golden days of the pasta
return equal to the average wage OF l.
900 American workers during periods
Of prosperity"
Blames Metropolitan Banks.
John T. Flynn, economist, said the
reason many little banks, essentially
sound themselves, cannot reopen today
is because their funds are tied up In
the great metropolitan banks like those
in Detroit, Cleveland and Baltimore,
which are the victims of security poi
soning that was self-inflicted."
He called for the divorce Of security
afiliates from banks and also said
banks should be restrained from doing
any security business. He also said
private banking must end.
Evening star., 1933-03-19
1884 Costs Estimated.

1884 Costs Estimated.
If the probable deficiency appropria-
tions during fiscal year 1884 are placed
at only $4,000, 900, which is much too
low, it runs the prospective deficit above
81 900, 900 900. President Hoover's esti-
mate Of deferments in cuts made in 1894
bills was about $4,000 900.
On the basis Of appropriations ap-
proved by Congress in the recent ses-
sion, including the independent Offices
bill, which President Hoover refused to
sign, and the District of Columbia bill,
which only reached the stage Of a con-
ference agreement, expenditures in
100000.
This total IS exclusive Of postal costs
met from postal receipts, but includes
1854, 100000 for statutory public debt
retirements. It includes $196, 500, 900,
which Is the Budget Bureaus estimate
OF unexpended balances Of previous ap-
preparations which will be drawn upon
during the year.
The prospective total expenditures
represent reduction of 1882 Ais 400 be-
low estimated expenditures for the cur
rent fiscal year Of $4,268, 1885,, 400 and a
reduction Of $1,110,120, ,305 below actual
expenditures In the fiscal year 1882 of
IS ,006, $50 .205. when about a billion was
accounted for by the Reconstruction FL
nance Corporation and other emer-
gency items. The total Is about s323. :
100000 under that for the fiscal wear
1881 and $108 900 900 less than expendi-
lures in 1880. 1t is little higher than
IN 1929. when at the height of the busi-
ness boom tax revenues reached huge
totals. 1t IS greater than any previous
year since 1921, when war costs were
stlu renected IN expenditures.
Allowances Offset Sayinxs.
Since the bulk of expenditures due
to the depression will be provided for
IN 1884 through the Reconstruction
FINANCE Corporation. which is financed
oy Treasury borrowings. ordinary gov
ernmental costs will remain at about
the level that prevailed lust prior to
the stock market crash. Such savings
as have been effected have been Offset
by the constantly increasing burden of
allowances for war veterans. The large
reductions from the most recent years
represent the omission Of non-recurring
depression items and a curtailment Of
construction.
President Hoover, In refusing to sign
the Independent Offices bill, said that
$39 ,626.650 Of the apparent savings
made by Congress below budget es-
Inmates merely represented deferments
which must be provided for by de-
f1ciency bills. On this basis, expendi-
lures IN 1884 would be $3,926, ,000, 900
rather than $3,8S6 900 900.
The figures for appropriations are
not to be confused with figures for ex-
penditures.
While the Democratic congressional
leaders point to a saving of S65, ,05O, ,588
Evening star., 1933-03-19
OFFICIALS NAMED
AS CONSERvAT0RS
Vice Presidents Put in CHARGE
of Franklin and y. S.
Savings Bank.

National bank examiners who have
been In charge Of the Franklin National
Bank and the United States Savings
Bank yesterday turned over the insti-
tutions to their own vice presidents who
will be conservators.
r. G. Ockershausen, the examiner who
has been in charge Of the Franklin bank
since last Tuesday. turned over his re-
sponsibilities to Thomas p. Hickman,
vice president Of that bank, who now is
In charge as conservator.
Zepr Succeeds Bailey.
At the United States Savings Bank,
]. L. Bailey turned over his duties as
conservator to Wilbur H. Zepp, vice
president Of the bank.
Meantime, most of the banks in the
city which are In the hands Of con-
servators have been operating trust
funds. Under the emergency banking
legislation, these institutions are author
lied to receive money on deposit in trust
and to have it available for withdrawal
These funds must be kept either In cash,
on ceposit at the Federal Reserve Bank
or In Government securities.
Work on Reorganization.
Efforts are being made by conserva-
tors not only in Washington but
throughout the country to recognize
banks. or get them In condition to meet
the requirements Of the Treasury De-
partment for license to reopen.
The exact status Of the 13 banks here
which are in the hands Of conservators
has been kept officially q secret, while
the cOnservatofS are endeavoring to
make as rapid progress as possible.
Reports were current that some Of
the banks would reopen this week,
Evening star., 1933-03-19
IMITATION TO BE CURBED
BY BALANCING OF BUDGET
Roosevelt Aiming at Cut Of $50 Million
by Drastic Pairing of Federal
Establishment.

ing presses to pay the Governments
bills. The President told Congress in
his request for powers to cut veterans
and Federal employees salaries that, bar
ring prompt counter faction, the ac-
cumulated deficit would be S. 900 ,000,-
600 at the close Of the next fiscal year,
June 80, 1894.
Probable Method Used.
How the President arrived at his es-
innate Of q, ,000, ,o00, 900 deficit for that
fiscal year was not explained officially.
In well informed unofhcial sources it is
suggested that the administration may
have arrived at the estimate thus:
year 1894 on basis Of bills
nessa eendsns 'eaS oiacss Is" biIi aips as .nof It
Tssshsd ssfl'sa Whits y so,IIS;s MOp,s snS s1||
Deduct euSiic deSt retirement: 'sss69 sss,d79.so9
,. Net total from Treasury, .ss.a5l,ss9,7OO
mated in 1T budses sss In Z beesm- asa,-
Foreign debt payments in. :'"'''''i0"''i'
a. ciTdsd @ n is sPove but probably .oo,.oo o--
uOt Al bl8ut. oZS,T4Z,S17
s2,e2O,419.s36
r,sRshise n5iaS unssy tx TIsssip.s Is mS,. ets g.
applied to debt reduction. 100000
Net receipts S2,816,sI9.s36
Probable shrinkaRe since De-
cember in income taxes. Gus
toms, miscellaneous taxes,
etc. as result of bank situ-
aticn and other unfavorable
factors ................. 250,O00,0OO
Total expenditures ....... S3.351 .399,70O
Total receipts ............. 2,366,819,S36
Prospective deficit. S9S4,570,S64
Evening star., 1933-03-19

Firemen to Hold Tacky Party.
CAPITOL HEIGHTS, Md, March
l8 (SpeciaD "A tacky party viii be
given in Firemen's Hall here next
Saturday night by members Of the
Capitol Heights Volunteer Fire Depart
ment.
Evening star., 1933-03-19
4.12O.OOO Gold Turned In.

DALLAS, Tex, March 18 R.-Om-
cials of the Eleventh District Federal
Reserve Bank said today that $4,120,0O
in gold had been turned in from men,
ber banks at the close of business yes
terday.
Evening star., 1933-03-19
INTEREST RATE RAISED
Wilmington, Del, Banks to Pay
More on Time Deposits.

WILMINGTON, Del, March 18 up.
The Wilmington Clearing House As
sociation, which includes seven Of the
banks in this city, today voted to in
crease the interest rate on time deposits.
Effective Monday, member banks will
cent, yearly ION that part Of the de-
positor's balance which exceeds $500"
Evening star., 1933-03-19
BANK TAKES IN 70
$4,000 GOLD NOTES
Old Big Bills Of Other Denomina-
tions for Total Of 81 ,4O0, 900
Also Deposited.

BY the Associated Press.
NEW YORK. March 1s.-Among the
money deposited at the Chemical Bank
q Trust Co. since the national anti
boarding campaign was launched are
70 $4,000 gold notes in the old-fash-
ioned big size.
Old big bills Of other denominations
for total Of $1,400,0O0 have also
been deposited there recently, ofiicials
of the bank said today.
Evening star., 1933-03-19
271 BANKS LICENSED
Fifth District Federal Reserve Re-
ports III Members Still Closed.

RICHMOND, Va, March 18 R).-
The Federal Reserve Bank Of Richmond
announced this afternoon that 271
member banks in the NTH district have
been licensed to open and that 1T are
still closed.
Total collections of gold and gold
certificates through March II, the date
set in the anti-hoarding campaign, was
announced as So, 900, 900 from the nth
district.
Evening star., 1933-03-19

Michigan Man Dies in Paris.
PARIS, March 18 Harry
Rindge, so, native of Michigan, but
long resident of France, died at q
hospital today after long illness.
Evening star., 1933-03-19

EISEMAN'S
SEVENTH AND F.
Sc Monthly
Will Pay for Your
NEW
SPRING
SUIT
l88
NOTHING DOWN
Just Pay
$6 IN APRIL
Sc IN MAY
Sc IN JUNE

Greys, ia n S, browns,
blues-in light and dark
shades. All-wool mate
rials that wear and hold
their press. Open a
charge account. Nothing
down.
Evening star., 1933-03-19
Work on Reorganization
40 BANKS OPENING
SOON ANNOUNCED
BY TREASURY HEAD

Continued From First Pase.)
Evening star., 1933-03-19

Probable shrinkage since De-
cember in income taxes. Gus
toms, miscellaneous taxes,
etc. as result of bank situ-
aticn and other unfavorable
factors
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-09-06
STATES NORTHWEST
NEEDS QUICK RELIEF
Frank Murphy Urges All Posi-
BILE Speed For Public
Works Projects

Washington. Sept. 6.-(P)-Franl
Murphy. public works adviser for the
fourth region, Wednesday said the ap'
proach of winter necessitates immedi.
ate undertaking of public works pro-
jects in the northwest to avoid des-
perate unemployment situation.
He urged quick action on 5000. 900, !
600 worth of projects which he says
are ready to be started in Iowa. Ne
braska, South Dakota, North Dakota,
Wyoming and Minnesota.
I'VE must eliminate red tape and
put people to work." he declared.
Murphy has just completed tour
Of these states and reports plans for
projects in excellent shape but an
alarming delay" in their undertake
ing.
He expressed particular concern
over Wyoming, saying streams are
failing and irrigation reservoirs are
Inadequate. He said about IS pei
cent Of the proposed projects in this
state involve irrigation, which he
called vital" to the states welfare
More federal highway funds in the
Dakotas and Nebraska should be used
on secondary roads to provide work
for destitute farmers" he said.
That would involve diversion Of
money from highways in municipal
tiles, he explained, while the admin
istration has ruled that towns and
cities should receive one-fourth Of
the states grant under the recovery
act unless 1t is proved that they al
ready are sufficiently developed.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-09-06
THE BISMARCK TRIBUNE
CLASSIFIED ADVERTISEMENTS

ling heifers about steady; bulls and
vealers fully steady: most vealers
fully steady selling at 6.50-7.50;
weighty sausage bulls up to 3.35;
stockers scarce: slaughter cattle and
vealers: Steers, good and choice, $50
900 lbs, 5.25-6.85; 900-llO0 lbs. 5.25-
TOO; ll00-l300 lbs. $780,. 90; 1901 1900
lbs. 5.75-7.15; common and medium
55-l300 lbs, 3.00-5.75; heifers, good
and choice, 55O-750 lbs, 5O0-6.25;
common and medium 2.5O-5.OO; cows,
good, 3.50-4.00; common and medium,
2.40-3.50: low cutter and cutter, l.50-
2.40: bulls (yearlings excluded good
(beef), 3.25-4.00; cutter, comon and
medium, 2.25-3.35: vea1ers, good and
choice, 6.50-7.75; medium, 5.50-6.5O;
Gull and common, 4.0o-5.50: stocker
and feeder cattle: Steers, good and
choice, 500-1050 lbs, 4.25-5.00; COM
mon and medium, 2.75-425.
Sheep, $4,000; generally active,
strong to higher, spots on fat lambs
rs up; quality improved; natives 6.75-
TOO; choice rangers held around
725; ewes around 10000: lambs, 80
lbs. down. good and choice, 6.50-7.25;
common and medium. 4.00-6.50; ewes,
90-150 bs., good and cls,ice, 10000;
all weights common and medium,
075-2.O0; feeding lambs, 50-75 lbs,
good and choice, 5.85-6.35.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-09-06
Favor Lower Rates
For Relief Coal

A resolution supporting the request
Of the state emergency relief commit
tee Of North Dakota asking three rail-
way companies to reduce the freight
rates on interstate shipments Of lig-
mite for relief Of the destitute has
been adopted by the state railroad
commission.
The relief committee requested the
Great Northern, Northern Pacific, and
500 Line Railway companies to con-
slider the proposal Of reducing the
frelsht' rates on intrastate shipment
Of Ignite coal when such coal Is used
exclusively for the relief Of the des-
titute in the state Of North Dakota.
In addition to supporting the re-
quest. the resolution adopted by the
commission further asked that all
railroads serving North Dakota ire
duce their rates on ignite coal to one
half the regular tariff rate when
shipped to the proper state, county.
lor relief AGENCIES. and when TO be
used 4xclisivey Tor the relief Of the
destitute
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-09-06
Alleged Abductor in
Montana Is Wounded

Chinook. Mont, Sept. 6.-(P}-A
story Of an apparent kidnapping and
the wounding Of the alleged abductor
was told Wednesday as authorities
prepared to file charges against Les
lie McIIoes, %, who is in the Havre
hospital under guard.
McHoes was captured early Tues
day by officers who sought him for
the abduction Of McE1oe's sister-in-
law, Edith Morgan, 20, from the
ranch home Of the girls father, M. A.
Morgan.
He was In = critical condition. his
right wrist shattered. officers said
by q bullet from . 80. 80 rifle fired
by Edith's sister, Lillian, when Nc
Hoes broke into the house.
Taking Edith from the house, Of
ficers charged, the abductor placed
her In his car and drove u miles to
his fathers ranch. He was captured
when his father brought him Ia
Chinook for surgical treatment.
The girl apparently suffered no II
effects. said Sheriff G. B. Reser and
Deputy Ed Larikin. They said they
had been unable to Determine mo-
tive.
The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-09-06
SIOUX CITY

Sioux City, Iowa, Sept. 6.-(P,-
". s. d. AD-Cattle 5000; slaughter
steers and yearlings slow; early sales
mostly steady: fat she stock un-
changed; stockers and feeders fairly
active steady; choice long yearlings
600: early bulk grain feds 4.75-5.25;
choice 1913 pound heifers $40: some
held higher; most cows 2.50-3.25; low
cutters and cutters mainly 1.75-2.25;
plain stockers 400 down: load lots
medium to good feeding heifers 3.25-
so.
Hogs $4,000 including around 5000
pigs and 800 piggy sows: fully steady;
shipper demand fairly broad: packers
inactive top 4.05: early sales 170-240
lbs. 3.75-400; heavier weights slow;
sows mostly 225-85; commercial feed
er pigs 2.75-3.00.
Sheep 1000; no early sales fat
lambs; asking fully steady or $50 and
above; yearlings salable mostly AIS
down; feeders scarce, sorted kinds
quoted up to 600; long string 81 pound
feeders late Tuesday 5.S5 straight.