davidaulloa/AmericanStories huggingface dataset:
The Washington times., 1934-04-20
2UL CONSUMERS PAID PADDED COAL PRICES IS CHARGE
News of the World

has been heralded as the latest
design in undersea craft.
PARIS, April 20 G.NS0.-Fas.
cists, not Communists, are plot
ting to seize Paris, Communist
Leader valiant Coururier de.
clared in a vigorous reply today
to the charge of Nationist Deputy
Desire Ferry that the Communists
have an army of shock troops
ready to take the capital of
France.
The Washington times., 1934-04-20
GERMANY

BERLIN, April 20 U.NSO An.
nouncement of the gift of a
months vacation to all Nazi storm
troopers, the ringing of church
bells throughout the country
marked Germany's observance of
Chancellor Adolf Hitler's forty
fifth birthday today. An unend-
ing line of persons filed into and
out Of the chancellory bearing con-
gratulations, numerous appoint
ments of honorary citizenship. and
many gifts,
The Washington times., 1934-04-20
RAILWAY ALSO
DISCLOSED IN
COMBINE
Agreement With Peabody for
Extension of Rule Found
bv Trade Examiner

The name Of Samuel insult.
now being brought back from
Turkey to face indictments in
Chicago following the collapse OF
his utilities empire. again rang out
in the Federal Trade CommiS-
sion's hearing room today.
Examiner John H. Bass, in re.
porting on the organization and
financial setup Of the Peabody
Coal Company. Of Illinois, told
the commissioners the insult utili-
ties bought their coal at prices
higher than the market rate dur
ing 1930-32, and used these costs
In computing consumers power
rates.
Utility -Coal.Rail Combine
Mr.. Bass also brought out that
the commonwealth subsidiary
corporation, an insult property,
owned the Chicago and Illinois
Midland Railroad, operating be-
tween Taylorsville and Pekin, Ills,
Q branch line outlet to main
trunk lines. He observed:
"'Thus the combination Of
railroads, utilities and coal
mines forms a very compact
unit-One that has the power
and tendency to interrupt the
normal flow Of commerce.
Mr.. Bass testified about q re-
ported agreement Samuel insult
made with StuyveSant Peabody,
president Of the original Peabody
Coal Company under which the
coal company was to be recapi-
talized and acquire more proper
ties.
Made 3O-Year Contract
This consolidation was effected
in May, 1928, Bass said, and q
three!man voting board was given
control Of the stock. The voting
trustees were Mr.. insult. Mr.. Pea
body and John G. Gilchrist, vice
president Of Commonwealth Edi-
son Company, another insult unit.
Mr.. Bass asserted that Martin
insult bargained in 1928 to pur-
chase 100000 tons Of coal each
year for 80 years for the Middle
west Utilities Company'S proper.
tieS. This contract was cancelled
in 1882, when the Middle West
failed, but its operating properties
still purchased: Peabody coal. Mr..
Bass commented:
''UndOubtedly, coal rstes re-,
fleet in consumers rates On elec-
trio energy. The utilities paid
higher price for coal than they
would have paid ON the open
market"
He refused to give an opinion
On the adviSability of utilities hold.
ing long-term contracts.
Cost Plus Basis
He said the Public Service Cor
poration of Northern Illinois,
Peoples Gas Light and Electric
Company, and the Commonwealth
Edison Company, agreed in 1928
to buy 80 per cent of their coal
from the Peabody Company on the
long-term contracts.
These contracts, he continued,
stipulated a coSt-pluS basis which
included cents per ton charge
for administrative services and a
IS cents-a-ton charge for the Pea
body's profit.
Mr.. Bass said the Peabody'S
output is about 10 million tons
yearly.
The Washington times., 1934-04-20
CANADA

HALIFAX, N. S., April 20
0NS0 1.-THE Danish frighter
Lalia, with $500 tons of cargo
from Baltimore, today was stuck
high and dry in the mud flats off
the st. Croix River. Bound for
the fertilizer plant at Windsor,
the ship was caught in racing
river tide while rounding turn
and swung into the bank.
The Washington times., 1934-04-20
C. J. Wilkinson, GUEST

Cecil ]. Wilkinson, executive
secretary of Phi Gamma Delta
fraternity, will be the guest of
honor at the annual banquet of
the Washington graduate chapter
ct the Racquet Club tonight.
George Z. Snyder will preside as
The Washington times., 1934-04-20
ENGLAND

LONDON, April 20 QN.S0.
The American dollar opened at
$5.141a on the London Exchange
today, 1s Of a point above yes.
terday's close. The pound opened
at II 11-16 French francs, down
1892 from yesterdays close.
The Washington times., 1934-04-20
FRANCE

PARIS. April 20 G.N.S).-Wiley
Post, famed American round-the-
world flier, today was officially
declared the worlds champion
aviator for the year 1888 by the
International League of Aviators.
Detailed story on Page H.
The Washington times., 1934-04-20

PARIS, April 20 G.NSD.-The
police today announced the arrest
of German woman, Mrs. T.
Jadina Oterentorp, charged with
bribing engineers in order to OBJ
tain plans of the new French
submarine Surcouf. The Surcouf
The Washington times., 1934-04-20
ARMY TERMED.
POWERLESS

CONTINUED from Page y
failure in all. Any two I might
accOmpIish-all three are i'm
possible"
ARE UNDERMINING ARMY
Under the new set-up, he
said, 10 per cent of enlisted men
would be used to make the new
organization of the Army, 20 per
cent would be stationed overseas,
and the remainder would be or
ganized into a mobile force to
delay the invader as it moved
inland. He said:
I'VE are now engaged in
mOdernizing our Army. Since
the World War there has been
striking progress in weapons
and mechaniZatiOn. 1t will
cause great changes in the next
war;"
General Macarthur said he advo-
Gated the bill primarily as ma
tional defense measure but added
that it would give thousands OF
unemployed youths chance to
rehabilitate themselves.
The Washington times., 1934-04-20
CUBA

.. HAVANA, April 20 UN.S).
The Cuban state department to-
day was to be ordered by the
Tribunal of Sanctions to demand
that the United States grant the
extradition of former President
Gerardo Machado, wanted in
Havana for trial on charges of
murder, torture and misappropri-
alton Of public funds. General
Machado, whose dictatorial reign
was ended by revolt and his
flight from Cuba last August, has
been living in New York rity
since late last fall.
HAVANA, April 20. G.N.S).-
Although no one was killed, a
gigantic bomb exploded early TO-
day, wrecking the home of Hello
Doro Gil, a lawyer defending az
cused members of the ousted
Machado regime. An abandoned
automobile seized in front of the
lawyers home after the explosion
carried a quantity of Communist
propaganda.
The Washington times., 1934-04-20
CONDITION OF TREASURY

BY International News Service
Treasury balance, $4,474,979,-
505.85; internal revenue, $4,286,-
1888; customs receipts, $l2,194,-
1882.
La gaceta., 1934-04-02
UN FAMOSO ESPECIALISTA
E AVER EN- Ell SA-
NATORIO DEL CENTRIC
ASTURIANO

Ell DR.. j. G. Lyerly, de Rich
mOnd, Virginia, miembro de la
Facultad de Ia ~escUela de medi-
Gina de John Hopkins, hizo ell
sabado una delicada operacion
del cerebro en- Ell sanatorio del
Centre Asturiano, a una sen0-
"a perteneciente a la Secci6n de
Beneficencia Asturiana, rama
del Centre Asturiano de Tam
pa.
Dur6 la operation cinco no.
ras Y media, segdn Sc nos infor
ma, y hubo necesidad de hacer-
lie a la enferma varias transfu-
stones de sangre.
Ell DR.. Fran J. Costa, direc-
tor del sanatorio, ayud6 al DR..
Lyerly.
Esta es la primera operation
de esa Importance que Sc rea~
liza en- ell sanatorio asturiano.
Varios prominentes medicos
preSenciaron Ia labor del CRU
jano, elogiaDdola calrrosamen-
te.
La gaceta., 1934-04-02
- UNIONL ITALIANA CE-
LEBRARA SU CUADRA-
GESIAO ~ANIVERSARIO

en- una ceremonial y un bal
lie, L'Unione Italiana celebrara
Ell pr6xim0 microbes su cuadra
g6simo aniVersario.
Los miembros de la sociedad
seran obsequiados con una ex-
hibici6n de pe,iculas y Vau-
deville Eor la direction del tea
tro Columbus, y en- IN entreac-
10 Sc entregaran los certifica-
dos de aatigUedad a los socios
de 20 aL2s . mas.
La ceremonia de entrega de
certificates sera presidida por
E! Sr. Paul Longo, en- compa-
ii de los Sres. jose P. Manis-
calco, F. Riggio, Vicente Anti
nCri, C. P. Maniscaico, V. GUas
tel9, p .Tagliarini, G.. V. Cagni-
"a, G. Ficarrotta, D.. Demmi,
:. Saleme. G, Burrescia, S. Spo
o, Ateo lie to, E. Q. Palermo.
frank Giunta, Ignacio Antin2,
i, Peter Mattina, Mario Pulla,
"A, G. Cacoiatore, D.. Greco, F..
upo, G. P2glisi y H. T. Scaglio
ne.
La Unione cuenta al presen-
te con cerca de 1000 miembros
entire elIos los mas distinguido,
ciudadanos de la colonia italia
Tia.
La gaceta., 1934-04-02
HlZO UNA C0RTA VISTA A
TAMPA Ell. SECRETARIO
DE LA GUERRA

Pas6 aver por Tampa, con
rumbo a Lake Wales, luego de
haber hecho una vista a Clear
water, ell Sr. George H. Dern,
secretario de la guerra de los
Estados Unidos.
Ell secreta~io hizo una vista
a Jack Aaville para estudiar ell
proyectado canal desde ell At
lantico al Golfo y despu6s resell
vic saludar a amigos suyos resi-
denies en- Clearwater.
lie acompaiiaron en- ell viaje
su ayudante, ell c%omandante BIZ
shop, Y ell coronel Hammock, in
geniero del distrito, con oficinas
en- New Orleans.
La gaceta., 1934-04-02

OVaciones Sc tributaron a los
artistas Spaventa Y Moya Y al
iovencito Ju5t1 Ferrara. Los
tres cantaron tangOs y canclo-
mes criollas, acompanados con
sus guitarras.
La orquesta Los BOhemiOs,
bajo la direction del professor
Maxine Echegaray, Sc superb
a 81 misma, ejecutando con sin
igual maestria ell bale brasile-
no LA Carioca" y ell tango "Me
lodias de ArrabaP'. Ell p1blico
bail6 ambas pleas, obligando a
repetirlas varias wees duran
tie la noche.
Gust6 muchisimo la orquesta
de Mano Sanchez, que tuvo a su
cargo la segunda parte del pro-
grama bailable.
Los Sres. Eduardo Valdes
Generique, presidente del Circu
10; Armand Dorta, y Cuco Ru-
bio dispensaron al cronista de
este peri6dico toda suerte de ia
cilidades y cortesias.
Entire las distinguidas damas
recordamos a las esposas de los
Doctores j. M. loretta, j. S.
Spoto, B. w. Lowry, C. H. Gut
nand, Santiago Paniello y Julio
de Poo; Eduardo Valdes Gene
rique, Jose Franco, Juan Pa
checo, Rex Farrior, Frank Gar
cia, Tomas Renedo, Anthony j.
Grimaldi, Sam Buckley, Jr., f.
f. Patterson, Howard Frank
lin, r. B. Castiglia, M. Caraba-
Ito, A. E.. Collins, j. G. Spicola,
James j. Fernandez, Eli Witt,
j. A. Sweeney, r. A. Marsica-
no, Emilio Lopez, Rafael Lopez,
Gonzaio Zarate, Rocco Marsi-
La gaceta., 1934-04-02

cano, A. Sanchez, Maria Mon
ter, Rosario Fernandez, AIDE
laida Vald6s, r. Antonon, B.
Valero, Jr,, M. Rubin, j. Reed
Evelyn Williams, D. Nnnce,
Fay Cost, J. q. McGregor, Nal
colin Wheeler, Harry Warner,
Isabel Mcdonald, Margarita
RUbio, Luisa Rubio, Sara V
Gavilan.
Muy gentiles y graciosas las
Srtas. Esthel Pacheco, Mary
loretta, Paquita Dlaz, Being
ma Fernandez, Amelia Escalan-
te, Josefina Alvarez, Noemi
Montero, Digna N1nez, Car
men Walls, Ellen Bennett, Lau-
Ia Agella, Velia Martinez, Car
mita Esperanto, Alicia Lopez
Guillermina Lopez, Rosa V. Ga
villain y Pillar Castillo.
Ademas de los sen2res que
fueron accompaniment a sus res
pc ctivas esp1sas, anCtamos los
rombres de los Sres. M. Owens
"A. A. Fernandez, Sam Fem
berg, Ernesto Sanchez, Pepin
Escalante, Severino Quintani-
LA, William NJ. Miles, Armandc
Escalante, Joe judge, Herbert
Pennock, r. F. Nallin, Fred
Himplines, Manuel Ramos, F
Davies, Pat Kirby y d. Clara
mount.
Ell hermoso acto social del Sd
bado hace honor al Circulo Gu,
bano y muy especialmente a sus
OrganizadOres, ante los Cuales
rendimoS nuestra calurosa fell
citaci6n.
La gaceta., 1934-04-02
Del Cabaret "CieIo Azul'

Del Cabaret "Ciel0 AzuP'
Animadisimo, muy fino, ell
cabaret "Blue Heaven organl-
.za5o por la secci6n de Recreo
r Alorn1 Gel Circulo Cubano,
que ell sabado tuviera por esce-
mario ell amplio salon de bale
de la sociedad criolla.
Bellisimas mujeres, elegan-
temente vestidas, prestigiaban
la fiesta. Entire los caballeros,
prominentes personalidades en-
la politica, la banca y ell conner
clio.
Ell decorado arm0nizaba ad-
mirablemente con al titulo da,
do al cabaret. "Cielo Azul', y
las mesas aparecian provistas
de serpentinas, gorros y chuche
rias carnavalescas.
Una nota de buen gusto la
ofreci6 la Secci6n de Recreo al
i~ntercalar las variedades del
programa con las pleas baila-
bles.
Velia Martinez y Carmita
Esperanto, muy acertadas Y a
plaudidas por sus canciones Y
bales, fielmente interpretados
La gaceta., 1934-04-02
TONIC POSLSION Ell NUE.
FO FISCAL DEL CONDADO

IL
FO FISCAL DEL CONDADO
En- la manana de hoy jur6
el cargo, en- la Corte de 10 Cri-
minal, tomando possession de los
deberes de fiscal del condado,
ell j6ven letrado criminalista c.
Jay Hardee.
FL ~gobernador Sholtz suspen
di6 ell sabado al fiscal Morris
NJ. Owens, n3mbrando para sus
tituirlo al Sr, Hardee.
Dentr1 de pocos dias ell Sr.
Hardee nombrara a sus ayu-
dante.
Ti6nese entendido que ell abo
gado 0, P, Hilburn, en- repre-
sentaci6n de Morris NJ. Owens
diseutira ante les tribunales Ell
derecho del gran jurado a reco-
mendar la suspension del fis-
cal.
La gaceta., 1934-04-02

su senor hermano Eliseo 49,
rez Soils, ocl~t.4a Ell dia 10 de
mario, EN- PraVia, Asturias.
Ademas de- joaquin sobrevi-
ven al maloGrado EIiseo, otr2s
hermanos, Maria, JESUS, Ernes
to, Consuelo y Hortensia.
Los amigos del Sr. Alvarez
Sells lie han estado llamando
Tor %tel6fono Y expresandole 81
sentimient9.
La gaceta., 1934-04-02
Una bOdd

Contrajeron matrimonio ell
}asado viernes, en- la Residential
lie la prima del novio, Sra. Jo-
iefina Prida. los j6venes Srta
Theresa Di Mario Y Tony Lica-
ia.
Actu6 ell Notario Candida Pc
ez, siendo los testigos los espo-
sos Josefina Y Charles Prida.
Embarcaron para Miami, en-
viaje de luna de MEL.
La gaceta., 1934-04-02
u8lpIcdjlOS

I'M ptGdhOS
Ell amable j6ven Mario Ro-
lriguez, Presidente del Club
Souvenir, y su hermana, la sim
)atica Srta. Ofelia Rodriguez.
umplen hoy un ano mas.
En- ST hogan de la Gale q
numero 2613, recibiran a sus
nuchas amiStades.
Hago votos por su dicha.
La gaceta., 1934-04-02
Los bd les de- ''EaStcr''

Magnificos les bales de aye
., 1 el Centric Asturiano, Circulc
Cubano y Centre Espanol de
Ibor.
TOGO la orQ4esta de Mano San
hez en- ell palacio de la avenida
.e Nebraska, c. S. Bolton en- ell
Circulo y Walter Barnes and
Jig international Gre ~lians", en-
i edificio de la Septima y Gale
16.
Felicito calurosamente a los
meritisimOs muchachos de las
secciones de recreo.
La gaceta., 1934-04-02
INFORMATION
DEL PUERTO

Aver llegaron a puerto los
vapores Carlton, Commercial
Bostonian, Florida Y Mailsea y
Sc hicieron a la mar ell Alabama
ell Wacosta.
La gaceta., 1934-04-02
afford R0mbradO Consul

FL ~apreciado ciudadano Sr.
D2minqo J. Milford, ex-o6nsul
de Cuba en- Key West ACADIA de
ser nombrado Consul de Segun
da Clase en- Savannah, Ga, POI
ell gobierno del coronel Mendie-
ia.
telicitam2s al nuevo funcio-
lario y distinguido amigo.
La gaceta., 1934-04-02
RuidOS0 trtuHfO

En- ell Teatro Tampa, ell pa,
ado sahado, hizo su presenta-
lion ell do Spayenta-Moya.
La cvaci5n que r2ci5ier7n hi
20 ~atterar 81 rrograma, para a
gregar algunas canciones mas
La gaceta., 1934-04-02
Una juntd

= WW JWIIIU
La Association de Padres y
Maestros Sc reunira manana, a
as 7 y 30 de la noche, en- la
escuela de MacFarlane Park
N West Tampa.
La gaceta., 1934-04-02
SentidO p6Sdnae

SentidO p6Same
Damos nuestro mas semitic,
pesame al caballerOso periods
ia Joaquin Alvarez Soils, "Xus
co de Pravia', por la muerte d5
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1934-06-11
PYTHIAN LODGE
NAMES OFFICERS

At a weli-attended meeting Of
Key West Lodge No. les, knights
of Pythians. held Friday evening,
officers for the coming term were
elected ~ follows:
L. L. Hlggs. Jr.-Chaneellor
Commander.
j. Frazier Pinder--viee-C Chan
cellor.
w. r. Areher-Prelate.
Jonathan Gates Master Of
Works.
J. Winfield RusssIJ-keeper Of
Records and Seal.
Uric Gwynn-Aaster Of FL
nance.
MiiIard B. Gibson--MaEter Of
ExehequeT.
,. Lennis carry--Msster Of
Arms.
Chris. Kn0wleS--lnneF Guard.
Murray Coehran--OHter Guard.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1934-06-11
STEAMER CUBA
BACK in PORT
VESSEL. HAD BEEN ON DRY
DOCK AT MOBILE FOR
OVERLAPPING

Steamship Cuba. Of the P. and
Q. $. 5. Company. returned yes
terday morning. o'clock, from
Mobile and berthed ut the P. and
o. docks.
The vessel had been in drydock
for overhaul and repairs prepara-
tory to taking up the Key West,
Tampa and Havana run when the
Florida leaves for New York
about June 10.
A. r. Miller. superintendent of
the P. and O. company. who went
to Mobile to supervise the work,
returned on the vessel.
Steamship Florida arrived from
Havana Saturday afternoon with
100 passengers Of whom IS were
aliens. The vessel sailed for Tam
pa ESQ O'Clock.
Freigkter Agwidale. Of the
Clyde Mallory Steamship COM
pany. arrived this morning esd
o'cloek from New York with heavy
shipments for Key West. The YES,
sci discharged and sailed IA
O'Clock FOR Tampa and Mobile.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1934-06-11
AUTO CAR STRIKES
POLE; BROKEN OFF
ACCIDENT HAPPENED ON
CORNER OF MARGARET
AND EATON STREETS

Results of an automobile acct
dent were evident this morning at
the corner of Margaret and Eaton
streets in front of the Charles S.
Williams home.
One of the poles of the South
ern Bell Telephone Company was
broken in two Just above the side
walk and witnesses to the accident
said an automobile crashed into il
shortly ~after 3 o'clock.
The pole was replaced by EN-
pioyes Of the company this morn
ing. The name Of the driver Of
the car was given rs Raymond
Stirrup.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1934-06-11
CUBA GOES RENO
One BETTER FOR
SEEKING DIVORCE
THIRTY DAYS RESIDENCE IN
REPUBLIC REQUIRED TO BE-
GIN NEGOTIATIONS ON ELI.
ciBILITY

Securing a divorce has been
made easy by the enactment of a
law in Cuba which was recently
signed by the president and is now
active.
A copy Of the law, which was
read by The Citizen through the
courtesy of Cuban Consul Berardo
Rodriguez, was published in the
last issue Of the National Gazette
of Cuba.
In it are set forth Is causes
which are considered reasonable
grounds for divorce. Some OF
these are not usually presented in
the courts in this country.
The law applies to Cubans and
strangers. For the latter al that
is required Is to establish residence
on the Island Of Cuba for 80 days
and at the end Of that time the
resident is eligible to apply for d.
vorce.
1t Is expected that numbers Of
tourists who have marital troubles
in the United States viii establish
Havana ~ the goal 81 their hopes
for radiance Of the hfndranee 70
their welded bliss.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1934-06-11
ROBERT JOHNSON
DIES LAST NIGHT
FUNERAL SERVICES TO BE
CONDUCTED TOMORROW
AFTERNOON

Robert Thomas johnson, II
years old. one Of Key Vests most
widely known citizens, died 3
o'clock last night at his residence
at 1929 Catherine street.
Funeral services will be held to-
morrow afternoon 4:30 O'Clock
from the First Baptist church,
where the body win be placed 2
o'clock. Rev. James S. Day will
officiate. so
Pallbearers viii be selected
from the Key West Fire Depart
ment of which the deceased was
for many years a member.
Funeral arrangements are n
charge Of the Lopez Funeral
Home.
Mr.. Johnson is survived by one
brother. Joseph johnson, two sis.
ters. Mrs. Rebeccah Sands and
Ars. Liza Romero and numerous
nieces and nephews.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1934-06-11
Buryins OF Dead Said
To Be Difficult Prob
lem; Destruction Seen
On Every Hand

=
SAN SALVADOR, June
11.-Relief workers today
estimated 1000 persons
dead in the vicinity of San
Salvador alone, following
che disastrous hurricane.
The entire community of
Octoepequa, Honduras, was
wiped out, and 500 persons
were drowned by q flood,
according to q radio report
sent to the United Fruit
Company headquarters at
Boston.
The Salvadorean Aircorps
reported death and destruc-
ton over q wide area of that
country, and whole towns
destroyed by landslides.
The west coast from La
Lihertnd 20 La Union was
worst hit. and villages were
virtually destroyed.
Electric power at San Sal
vador has been restored and
drinking water Is available
again.
The burying of the dead
is being carried on fast As
the army can get rescue
workers into the stricken
settlements.
Lakes Cuija and Coate-
pequa overflowed their
banks and swept away every
vcstige Of civilization around
the shores.
The international Rail-
road of Central America was
washed out, and observers
reported seeing a train up
side down several hundred
feet from where the noun
tain track had been.
Practically ali agriculture
in Ell Salvador was wiped
out.
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1934-06-11

pump dollar water" back into
the barrel to raise the gauge level.
That financial transaction would
be the sale Of dollars.
English and American ZEN
gineers" operating the two
gigantic pumps, however, might
disagree on the level to be set,
and one might pump dollar water
out while the other pumps it in.
Then would follow the foreign ex-
change war about which financiers
and statesmen have limited darkly.
British Operations Secret
Such a currency battle has
been called unlikely" but it
might ensue if either. country be-
lieved the Others currency was
extremely deprecated and jeop-
ardized foreign trade.
Greatest secrecy surrounds
operation of the British fund, and
no accounting of its operation
ever has been made public.
The English operate their fund
with assets derived from sale of
treasury bills. If they want the
price of pounds to decrease, they
sell pounds. In selling they pur-
chase dollars or gold or francs or
some other monetary unit. That
makes other monetary units
scarcer and pounds more plentiful
in the market place.
The American fund, built from
appreciation of gold holdings due
to dollar devaluation, could OPP
crate in the same manner. If
pounds were cheap-making dol
lars dear-the fund could sell
large amounts of dollar in foreign
exchange, make the supply plenti-
full, beat down the exchange value
of the dollar.
Purpose OF British Fund
The four-fold purpose of the
The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1934-06-11
By RAIDER WlNGET
lIsx Anaaciated Press

NEW YORK, June 11.-Stabil-
ization of the American dollar in
foreign exchange through ST.
OO0, 900, 900 fund is a task pre-
senting uncharted problems in in
ternational finance.
In simple explanation of how
the fund might work, the level of
water in bucket could be used as
an example. Value of the dollar
would correspond to the water
level, and controlling this level
would be the sterilization pump
attached to q $4,000, 100000 fund
RESERVOIR.
In daily action Of foreign ex-
change trading the water level of
dollar value might become too
high and increase the reading on
the dollar price gauge, for in
stance, well above the old sterling
par of $4.86. Such a high level
would signalize depreciation of
the dollar and tend to initiate
domestic commodity prices.
Restoring The Level
So into action could come the
sterilization pump and withdraw
dollar water" from the barrel
until the level comes nearer de-
sired mark. The financial trans
action would be purchase of
American dollars with gold or
some foreign currency.
But the English also have a
sterilization fund of nearly ST.
100000, 900, and they also might
use It to lower the dollar price
of the pound.
In that case the dollar level
might sink below point Amer
Jean authorities desire. and the
American sterilization fund could