davidaulloa/AmericanStories huggingface dataset:
Imperial Valley press., 1933-03-08
zM9 R1~~
Oles3 hekausht Syndicate. Inc
COMMODITIES
SHOW GAINS
BY WAYNE c. BUTLER
United Press Financial Editor

NEW YORK, March 8. U.P) -
Uncertainty in commodity circles
was clearing today as traders anti
cipated early reopening of organ
lied markets and resumption OF
hedging operations.
Meanwhile, in spot markets, prices
lose sharply in such items as coffee
and sugar. The latter was advanced
20 points to 4.10 cents pound by
the leading companies-American
Sugar Refining company, National
Sugar Refining company, Pennsyl-
vania Sugar Refining company and
Revere Sugar Refining company.
Large sugar companies were SELL
ing only to their regular customers
in IN effort to forestall SPECTATORS.
deferred payment plans also we're
withdrawn.
Other commodities moved up
ward in local trading. Wholesale
coffee prices were up ss to y point
from recent levels. Cotton was
strong in southern markets. Cotton
and silk goods prices jumped 10 to
Is per cent.
There were no dealings in silk,
although an unofficial nominal
quote on crack double extra Jap
anese silk at SLAP to $l.45 a pound.
The official price last Friday was
S1.21 a pound.
Imperial Valley press., 1933-03-08
MRS. BARNETT
TAKES STAND
Continued On Page 81

LOS ANGELES, March 8. <U.P)--
Jackson Barnett, Indian oil mil
lionaire, who once lived in a hut
at Henryetta, Okla, cannot live
comfortably today on $3.50 weekly.
his white wife, Anna Laura Bar
nett, testified in federal court to-
day.
Mrs. Barnett continued on the
stand in the government inquiry
into the circumstances of her mar
riage to Barnett, which it is seek
ing to annul on the grounds that
the 91-year- -old Greek is mentally
incompetent.
AS previously, she was sharp in
her response to the questions OF
government counsel, and was ad-
monished several times by the court
to confine her answer to the ques-
tionS asked
What was your average bank
balance last year?" asked Peter
Davis. assistant United States at
torney.
Il don't know what you mean
by average bank balance" she re-
piled "It certainly wasn't very
much"
She said she did not know where
her bank book was, and was tn
structed to bring It to court tomor-
-Sw
Asked what disposition was made
CT $1,000 advanced by the govern
ment last Christmas, to supplement
Barnett's $4,000 monthly allow
ance, Mrs. Barnett snapped that
1t went for Jacksons christmas.r
The government Is seeking 70 re-
cover Barnetts guardianship, al
leging that Mrs Barnett "kldnap-
ed" the aged Indian ana married
him in Coffeyville, Kans., and that
Barnett had no clear idea OF what
he was doing at the TINT.
Imperial Valley press., 1933-03-08
RESERVE BANK
STARTS DRIVE
National Movement To Recap
ture Gold Following Authority
To Do Limited Business.

NEW YORK, March 8. U,Pj-
The federal reserve bank started a
national drive to recapture gold to-
day, after being authorized by Sec
retary of the Treasury William
Woodin to open for limited reSump-
tion of rediScounts and currency
payments to member banks.
The federal reserve bank will as
sist m III ber and non-member
banks to conduct the limited en-
ergency business authorized by Sec
retary Woodin only if they ARE
complying with the spirit and the
purpose as we'll as the letter" OF
emergency banking regulations,
and only if they turn into the fed
eral reserve bank all gold and gold
certificates owned in their own
right.
The relaxation of restrictions on
the federal reserve bank was an
nounced here during the night, and
at first was interpreted as apply
ing only to this federal reserve dis
trict. Later interpretations of the
order received from Secretary
Woodin, however, made it appear
that it affected all federal reserve
districts.
The order specified that the fed
eral reserve bank could advance
currency to banks only if assured
that there was emergency need for
the assistance. The significant part
of the order, however, was felt to
be the provision that banks could
only receive aid as showing full
evidence of cooperation with the
federal emergency regulations, and
by turning over their entire gold
supplies to the federal reserve sys-
tenn, possibly to be used as back
ing for new currency issues.
Some bankers thought the move
presaged a further loosening of
federal reserve restrictions which
might make it possible for New
York banks to resume business and
open at least some parts of deposi-
tors accounts without reSorting to
clearing house scrip which already
has been printed and made ready
for distribution.
In any event, banks prepared for
business today under the Woodin
limitation of business orders with
far less uncertainty than prevailed
yesterday. Several banks opened,
closed and reopened as many as
four times yesterday because of
varying interpretations of the
Woodin orders and their relation
to the statewide bank holiday pro-
claimed by Governor Herbert H.
Lehman.
Imperial Valley press., 1933-03-08
L. A. Banks NoW
Marking Time

LOS ANGELES, March 8. UP)-
Los Angeles banks were marking
time today, as they have since the
declaration OF the banking holiday.
Plans for the issuance of scrip
were at standStill until it is de-
cided in Washington what medium
of exchange will be adopted ma
tionally. Scrip in the amount of
$40 ,00O,O has been printed and
ready for use since Monday.
Banks were open, as they have
been since Monday, for making
change.
No banks were known to be CASH
ing payroll checks.
The Bank of America was accept
ing new cash deposits on trust
agreement" under which the de-
positor could withdraw his money
personally, but could not check
against it.
The 410 branch banks of the
Bank of America and several pri-
vate banks today put into effect a
system of customer transfer of ac-
counts" partly to relieve the strain
of accumulated debts.
Under the system, customers
were permitted to meet obligations
to other customers by transfer OF
credits, as long as the transactions
involved only bookkeeping instead
of cash.
Imperial Valley press., 1933-03-08
Change Made in Federal Financial Program
Dam Contracts
Were Peculiar

LOS ANGELES, March 8. up
There was something peculiar"
about contracts for excavation on
the abandoned San Gabriel dam,
according to testimony of one of
the contractors, disclosed today in
a transcript of grand jury proceed
ingS.
The admission that county auth
critics agreed to pay $295 yard
for excavation work that could
now be done for go cents, came
from Charles r. Ross, member of
the firm of Fisher, Ross, MacDon-
aid g. Kahn, which contracted to
build the $25 100000 flood control
dam.
Publication of the grand jury
proceedings came on the eve of the
trial Of Sidney T. Graves, former
county supervisor, accused of ac-
cepting an $4,000 bribe from Ross,
Allan Macdonald and Felix Kahn,
which opens tomorrow.
Two secret indictments naming
three men also have been returned
by the grand jury. Both MacDon-
aid and Kahn, through their attor-
neyS, have declared they believe
they were named in the secret bills,
and have refused to produce COM
pany record or grand jury scrutiny.
Imperial Valley press., 1933-03-08
FARM HEADS
WILL CONFER
Secretary Wallace Will Meet On
Friday With Leaders To Dis
cuss Relief Measures.

WASHINGTON, March 8. up
Secretary of Agriculture Wallace
announced today that ne woulo
meet Friday with representatives OF
leading farm organizations to see
whether it is possible to reach an
immediate agreement on farm
program that will affect this year 5
crops"
Wallace said he expected to pre-
sent a program OF agricultural re-
lief to the special session OF con-
eress Immediately.
TT is our hope that we can unlVe
on a program that will provide an
orderly retreat for the over-extend-
ed part of our agriculture wal
lace said, ito be of use to agricul-
ture. that program must apply OH
this years crops"
The secretary indicated that tne
program he had in mind would IN
volye certain features of the So
called domestic allotment plan To-
gether with a farm rental system
"We must furnish an orderly re-
treat for acres not eSsentlal 10
farm purchasing power" he salo.
Wallace expressed the opinion
that March Is would be the dead
line for adoption of any series OF
measures to affect this years crop
"The quicker some regulation on
acreage is put in force, he con-
tinued. "the less It would cost the
government" -,
The farm organizations which will
be represented include: the Ma
tional Farmers Union, the Farm
Bureau Federation, the National
Livestock Marketing Association
the National Grange and Cotton
and Dairy Cooperatives.
THE Cotton Cooperatives thlnK
it possible" Wallace said, ito ef-
feet curtailment of acreage which
would help on this years crop.
He declared the opinion that
while most cotton interests were
favorable toward the Smith bill,
any final program affecting the
cotton crop would be somewhat
different from provisions Of that
measure.
Imperial Valley press., 1933-03-08
Seek To Check Up
Utility Expenses

FRESNO, Calf, March g. U.P)-
A bill designed to limit drastically
expenses public utilities may charge
against consumers was to be sub
mitted to the City Attorneys asso-
citation of the League OF California
Municipalities in San Francisco to-
day.
The bill, drawn by City Attorney
Claude l.. Rowe of Fresno, and to
be submitted later to the legislature
by Assemblyman Lucius Powers, ir.,
would prevent utilities from charg-
ing to operating expenses club dues
of officials. management fees to
holding corporations, engineering
fees paid to subsidiaries and prop
aganda" expenses. 1t would re-
quire the corporations to pay such
expenses out OF surplus.
Imperial Valley press., 1933-03-08
BY THOMAS b. MALARKEY
United Press Staff Correspondent

SACRAMENTO, March 8. = The
major banking bill which serves as
the foundation for all restrictive
measures induced by the present fl
nancial crisis was past its first large
obstacle today and facing the Sec
ond, the senate.
The proposed legislation will be
promptly taken up by the upper
house, legislative leaders indicated.
1t vii meet their intensive scrutiny
and, it was indicated, serious objec-
tionS.
One scheduled senate amendment
would eliminate that part of the
bill which exempts from restriction
state, county, municipal and trust
funds.
The act was passed by the assem-
bly, late yesterday. 1t provides for
uniform withdrawal rates fixed by
the banking "czar" Estate bank su-
perintendenD withdrawal periods
Continued On Page 81
Imperial Valley press., 1933-03-08
Nauy ManeuUers
Display Speed

ABOARD U. S. S. TENNESSEE,
WITH THE UNITED STATES
FLEET OFF LOWER CALIFOR-
MIA, March 8. UP)-In tremend-
Gus display of speed and power,
airplanes became demons of des-
truction when they combined with
the destroyer fleet to launch tor
pedoes against the battle fleet dur
ing the navy's second day of battle
tactics.
Ninety powerful fighting planes,
including SO diving bombers, IL
giant patrol planes and 48 scouting
ships, collaborated with destroyer
command of Rear Admiral H. E.
Yarnell in a simultaneous attack
upon the battleshipS and cruisers,
commanded by Admiral Luke Nc
Nance.
OF course shot was not actually
fired nor bombs dropped during
the maneuvers, but cameras re-
corded each shit" and miss" so
that at conclusion of the games,
the various winners can be deter
mined.
Imperial Valley press., 1933-03-08
CERMAk TRAIN
ARRIVES HOME
By ROBERT T. LOUGHRAN
United Press Staff Correspondent

CHICAGO, March 8. UP)-Under
somber skies, Mayor Anton Joseph
Cermak was brought home to the
city of his lusty youth and tri-
umphant manhood today, in cas-
ket on a funeral train.
The Illinois Central train bearing
the solid bronze casket, and mem
bers of the family and associates,
arrived at 10 a. m.
Massed in the fog filled streets
encompaSsing the Twelfth street
station were at least $4,000 persons.
Many had stood in the chill morn
ing air for hours.
The living aboard the train were
members of the family and asso-
ciates who had been with the mayor
most of the time during his battle
against death since he was shot by
Giuseppe zangara near the automo-
bile bearing Franklin d. Roosevelt
through Miami streets the evening
of February IS
Imperial Valley press., 1933-03-08
STARS
WILL BE CUT

HOLLYWOOD, March 8. U.R)-
A so per cent cut in all salaries
above $50 weekly went into effect
today in the motion picture indus
try as an alternative to COM
plete shutdown for period of four
weeks or more. due to the inability
of producers to meet a $4,000
weekly payroll during the banking
structure.
The cut, retroactive last Monday,
will be in effect for eight weeks.
Studio employees were to hold mass
meetings today to accept the slash,
or pain of losing all salary
through closing of the studios.
The new pay schedule must be
accepted. by nightfall, it was de-
clared.
The $4,000 week star and direc-
tor and the $25 week stenograph-
er alike will suffer under the dras-
tic STEP the star and director how
ever, in greater proportion.
Actual salaries of the stars are
topics of much guesswork through
out Hollywood. for the studios have
been increasingly reluctant to di-
vulge the remuneration of their
featured players.
Should the studios elect to close
down, thirty major features would
have to be stopped, with indica-
tions that the picture houses
throughout the country would have
to follow suit for lack of films.
Freezing of company assets by
the bank holiday and the falling
off in theatre receipts were blamed
for the situation.
Imperial Valley press., 1933-03-08
BY United Press

'7CONEY ISLAND, N Y, March g.
Rex D. Billings, Jr., manager of
Luna Park, carnival center, was one
of those caught short by the bank
holiday. He was going around
town today trying to borrow S25 on
an elephant.
NEW YORK, March 8. The
Travellers Aid Society was one of
the few places reporting increased
business. The holiday deposited in
its care a California family with
measles, 68 homeless boys, IA young
girls looking for jobs and three
wives who ran away from their
husbands.
NEW YORK, March 8. The
Hotel McAlpin, which advanced q
guest enough money to have
tooth pulled, found itself involved
Imperial Valley press., 1933-03-08
Little Export
Copper Selling

NEW YORK, March 8. U.Pg-
Most copper companies with head
quarters in the United States are
not selling export copper, it was
learned today.
Some sales were made abroad,
however, by foreign interests at
5.075 cents a pound, gold basis, CIF
London, Hamburg and Havre.
Domestic metal nominally was
quoted at five cents pound de-
livered to the end of June, bu. buy
ing was at Standstill.
Imperial Valley press., 1933-03-08
CURRENCY WILL Be
lOOSENED BY Government
Roosevelt To Ask Congress For Broad Pow
ers Tomorrow In Order To Deal With
Critical Financial Situation.

bility of creating a national emer-
gency currency. Former Governor
Alfred E. Smith of New York was
appointed head of a corporation to
manage the scrip issue in his
state.
8. Further confidence was mark
ed upon indications that President
Roosevelt would ask congress to-
morrow to put limited federal
guarantee back of all bank depos-
its.
4. Congressional action confirm
ing the embargo on gold was ex-
pected to be the first act of the
new congress.
5. Penalizing of gold hoarders,
through taxation and other drastic
measures, was in prospect. Names
of large holders of gold were
known to the authorities.
6. Food and commodity prices,
fluctuating widely, showed tend
ency upward.
7. Savings banks and institutions
holding thrift funds" planned to
invoke the 60 day and 80 day re-
strictions on Withdrawals permit
ted them by law, upon resumption
of general banking.
8. Federal revenue agencies an
nounced they would receive checks
in payment Of income taxes, but
that if these checks were not COL
lected within a reasonable time, the
signer would be called upon to
make good the amount.
8. A majority of public service
corporations and the larger mer-
camille companies began acceptance
of checks, subject to deposit at the
end of the bank holiday.
Imperial Valley press., 1933-03-08
BY United Press

Real currency, loosened through
the federal reserve will be depend
ed on in the present crisis instead
of scrip or clearing house certifi-
Gates, according to the latest dec
laration by the United States
Treasury Department.
Other new developments in the
banking emergency came rapidly
today. They were:
1. Federal reserve banks have
been instructed to ''loosen" curren-
cy with the cooperation of MEM
ber banks.
Q. President Roosevelt intends to
ask congress for broad. almost die
tatorial powers, to deal with the
situation.
8. Woodin's statement was re-
garded as an expression on the
governments insistence upon what
President Roosevelt termed in his
inaugural address "a sound but ad-
equate currency"
The third day of the national
bank holiday found the country
emerging gradually from curren-
cy paralysis, with banks through
out the nation reopening to trans
act limited but necessary business
Developments of the day includ-
ed:
l. A flow of payroll funds into
the hands of workers began under
regulations issued by the treasury
department.
r 2. Plans for state wide scrip in
New York and other states were
rushed through, pending the posi-
Imperial Valley press., 1933-03-08
Old Piainsn1an
Nearing Death

LONG BEACH, March 8. U.P)--
Ned Frost, a brother, arrived today
at what was feared the deathbed
of Jesse M. Frost, old-time Wyom-
ing bull driver. miner and pal of
Buffalo Bill.
Frost, who is IS, became ill sew
eral days ago.
The Frost brothers came to Wy
oming At years ago, when Jesse was
l8. He drove bull teams through
the Big Horn region and knew w.
F.. Cody buffalo BilD intimately.
In late years, the brothers lived at
Cody, the town founded by the
famous plainSman.
Jesse Frost had lived here in re-
tirement for three years.
Imperial Valley press., 1933-03-08
ISSUING SCRIP
PLAN DROPPED
BY ROOSEVELT
Will Rely For Additional Cur
rency On Elastic Features OF
Federal Reserve System.
STATEMENT FROM WOODIN
Confusion From Wide Variety
OF Scrip Given As One Reason
For Change In Plans.
BY RAYMOND CLAPPER
United Press Staff Correspondent

United Press Staff Correspondent
WASHINGTON, March 8. - The
Roosevelt administration aband-
oned its scrip plan today.
Instead it has decided to rely for
additional currency chiefly on the
regular elastic privileges of the fed
eral reserve system. These are far
frcm being stretched to the limit
and there still is room for expan-
sion to meet the current shortage
of cash.
This apparently can be consid-
cred a rigid form of currency ex-
pansion Officials are wary of Ia
beling their hour -to-hour moves
during the emergency.
The scrip and currency decision
was announced dramatically by
Secretary of Treasury Woodin to-
day
Details of these latest moves were
trickling out slowly.
While Woodin said the treasury
would not authorize use of scrip,
it was explained that the federal
government would not prohibit or
exercise jurisdiction over local issu-
ance of scrip such as has develop
ed in various sections during the
past several months.
Best information is that the gov
ernment now contemplates addi-
tional currency chiefly of the same
kind hitherto issued against COM
mercial paper and the gold reserve.
There is still ample margin for in
creasing the volume of this paper
money by about $2,OOO,OO0, 900.
In issuing these notes the federal
reserve system must maintain at
least 40 per cent of gold behind
them. Actually the gold backing
now is 81 per cent. Again there is
ample margin. Federal reserve
notes in actual circulation on
March 2 totalsd $3.50 $4,000.
The gold reserve was S2,268, ,462,-
0OO.
IN the matter OF gold backing for
their notes some reserve districts
are naturally in better shape than
others. 1t will be possible to shift
back and forth so that the support
ing gold will be sufficient in all
parts of the country.
Furthermore the Glass Borah
rider to the home loan act may be
resorted to if need arises. This bill
allows banks t. deposit government
Continued On Page 81
Imperial Valley press., 1933-03-08
INVADERS NOW
IN L|NCYUAN
BY FREDERICK WHITEING
United Press Staff Correspondent

United Press Staff Correspondent
copyright 1888 by United Press
WITH THE JAPANESE ARMY,
Lingyuan, Jehol, March 8.-After
five days of hard marching, the
main force OF the advancing Jap
anese army moved into Lingyuan
today.
The approach of armored tanks
lulching over the hills outside the
town last Saturday were the first
warning of the approach. After two
hours of desultory resistance the
Chinese fled leaving many dead.
With today's arrival OF c.le main
force, natives calmly resumed busi-
ness. trading with the soldiers.
Missionaries, residents here, were
unharmed during hostilities.
Japanese airplanes had flown
over the city prior to the first at
tack, and dropped handbills advis-
ing missionaries to fly the flags OF
their country. The stars and stripes
flew from a flagpole on the home
of Harriet Minns, Buffalo, N. Y.
The English flag was flown over a
hastily built dugout, shielding a
child of British missionaries.
One British woman missionary
however, was attacked by ruffians,
some of them dressed in the uni
forms of Chinese soldiers. The wo-
man. Miss Blackmoor, was resident
heaten and kicked, and her assail-
in an isolated mission. She was
ants looted the mission before flee
ing at the approach of the Japan
esa vanguard. .r
All ether missionaries III Jeroi
are reported safe.
Imperial Valley press., 1933-03-08
Senate Choirn1en
Places Assigned

WASHINGTON, March g.. W.Pj-
Committee craftsmanship plums in
the senate were assigned today by
the Democratic steering committee.
Majority Leader Robinson an
nounced the senate would make
them effective tomorrow in an or
ganization meeting.
Outstanding committee chair
manship assignments were:
Appropriations, Glass; banking
and currency, Fletcher; finance,
Harrison; foreign relations, Pitt
man; military affairs, Sheppard;
agriculture, Smith; and naval af-
fairs, Tydings.
Imperial Valley press., 1933-03-08
Delay Checking
Recall Petition

Checking of signatures appearing
ON a recall petition filed Monday
against Burleigh Adams, Imperial
Irrigation district director from the
Brawlcy division, IS neld up pend
ing return of F. H. McIver, secre-
tary, Who is in Sacramento on dis
trict business.
Signatures must be carefully
checked and the petitions declared
sufficient or insufficient within 10
days after fling, it was explained
at headquarters today.
A total OF 1886 names appeared on
the petitions and it requires $40 ac-
cepted signatures to bring about a
recall election.
Imperial Valley press., 1933-03-08
Arizona's Train
LouU Held Void

PHOENIX, Ariz., March 8. U.P)-
The Arizona law limiting the
length of trains is unconstitution-
al as it affects interstate COM
merce, according to an opinion
filed today by Circuit Court Judge
Fred c. Jacobs of Phoenix, and
signed also by Circuit Judges A. F..
st. Sure and Curtis d. Wilbur.
Four years of litigation, begun
by the Southern Pacific and Santa
Fe railroads, was ended through
the decision which removes the
limit of II cars on freight trains
and IA cars in passenger trains.
Imperial Valley press., 1933-03-08
BANK HOLIDAY BRINGS MANY
AMUSING AFFAIRS TO LIGHT

in a mercantile deal few minutes
later. Another guest, it seems, had
negotiated for $500 in goods but
did not have enough cash to close
the transaction. The hotel provid-
ed funds.
NEW YORK, March "a man
walked into the Pennsylvania Mo-
tor terminal, showed his watch
through the cashiers wicket and
asked for "a ticket to Philadelphia
and 81
Sorry" said the clerk, and
showed the watch back.
The man took a gold pencil from
his pocket and added it to the
watch.
GIVE got to get to Philadelphia
tonight" he pleaded.
"There's a 100000 deal waiting
for me there tomorrow"
So far as the clerk knows, the
deal was held up indefinitely.
EVERETT, Mass, March g.
whats this?" demanded the
cashier of an Everett Square res
taurant, lingering scrap of pa
per. Scrip replied the customer,
dashing out the door. The scrip
was relic of the panic of 1907.
WATERFOWL, Mass, March g..
What are you doing?' Police
man Walter F.anerty called to a
friend who appeared to be dismant-
ling his front porch with a claw
hammer. The friend explained and
Flaherty helped him rip up the
boards. Finally they reclaimed a
quarter and two dimes.