Newspapers / The Times-News (Hendersonville, N.C.) / May 31, 1933, edition 1 / Page 1
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WEATHER Continued fair tonight and Thursday. CltTS GOOD AFTERNOON Sometimes the purchaser of a second>hand auto finds it's hard lo drive a bargain. VOL. 52—No. 129 HENDERSONVILLE, N. C., WEDNESDAY, MAY 31, 1933 Managi^VE CENTS r;' COMMITTEE UPHOLDS ITS INVESTIGATOR Pecora's Program Backed by Senators at Secret Session PROBE IS ENTERING ITS THIRD WEEK WASHINGTON*. May SI. (UP) J. P. Morgan & Company were shown in the senate stock market investigation today to have real ized an actual profit of $7,000, 000 and a possible paper profit of $46,000,000 on a single securities issue. The issue was in the United Corporation stock. The inquiry revealed at least some 200 pre ferred purchasers of the stock in a list which contained names of many who are on similar lists made public la?t week but in ad dition it carried the names of E<i gar Richard who was associated with Herbert Hoover in the Bel gium relief administration and other war post organizations, and the late Dwight W. Morrow, for mer New Jersey senator and American ambassador to Mexico. As the inquiry entered the sec ond week the program of Ferdi nand Pecora. committee investiga tor counsel, was upheld in a se cret session by the senate bank ing and currency committee. Norman H. Davis ana v> mium H. Woodin are among those on th© latest list who also are on other lists already made public. I BOY SCOUTS UNITS FORMED Troops Will Organize at H. S. Gymnasium, 4 P. M. Friday Two P.ov Scout troops were or ganized last night at a meeting at the high school of members of the Kiwanis and Rotary clubs. Troop No. 1 will be sponsored by the Kiwanis club. Troop No. 2 by the Rotary club. David Mashburn will serve as scoutmaster for Troop No. 1, and Joe Parsons as scout master for Troop No. 2. The Kiwanis troop committee is composed of J. H. Lanipley, chair man, C. M. Ogle, N. W. Miller and J. H. Todd. The Rotary troop committee is | composed of A. S. Browning, chairman. E. W. Ham. J. C. Cos-| ton and C. H. Moser. A meeting of the two troops' will be held at the high school gymnasium on Friday afternoon at 4 o'clock for organization. Plans are to have at the start 12 members in each group, tak ing in boys in the 8th grade and above. As organizations are per fected the younger boys will be placed in troops until there are 32 members of each troop. Addi tional troops will be organized later, if necessary. CONFIRM ASSISTANT TREASURY SECRETARY WASHINGTON, Mav 31. (l'P) The senate late yesterday con firmed the nomination of Stephen B. Gibbons of New York to be as sistant secretary of the treasury. Other nominations confirmed were Arthur E. Morgan of Ohio to be a member of the board of directors of the Tennessee Valley authority; Richard C. P. Thomas of Kentucky to be district judge of the Canal Zone, and William Thomas Collins of Missouri, to be clerk of the United States court lor China. BRITAIN~TO RELEASE 4-POWER PACT TEXT LONDON, Mav 31.—(UP).— The government intends to pub lish the text of the four-power pact as a "white paper*' immedi ately after it is initialed at Rome, possibly before the end of the week, it was understood last night. The "white paper" will con tain only the final pact, and not the six drafts proposed during the two and one-half months of ne gotiations, as originally suggest* Eyes of World on U. S. Delegate at Arms Parley In the world limelight for the vigorous fight he has waged for disarmament among the powers at the world arms parity at Geneva. Norman Davis, American ambassador-at-large, is shown (left) quietly reading his newspapers while General G. Tanezos, 11 ungarian delegate, addresses the momentous con ference. NEW FEDERAL BEER MEASURE IS HELD UNCONSTITUTIONAL COTTONSOARS UP 25 POINTS Several Factors in Boom Enriching Growers by $50,009,000 NEW ORLEANS, La., May 31. (UP).—Ten-cent cotton was uost ed on the boards of the New Or leans cotton exchange yesterday for the first time since July, 1931. The market soared 25 points, or Si.25 a bale, in a holiday flurry Tuesday, and for a third succes sive da^ of trading, cotton reach ed new highs for 1933. Yestei day prices rose above the high marks of last August, and touched a new peak for the last two years. May contracts moved into four figures and closed at 10.11 cents a pound. Optimism ran rampant through the cotton trade Tuesday. Buying was general and contracts became scarce. There were favorable trade reports from the federal re serve bank at Atlanta to spur on the boom. Spinners bought heav ily and foreign firms joined in the rush. Spot cotton closed at 9.35 and was 340 points, or $17 a bale high er than the 5:95-cent-a-pound quo tation of March 1. when the cot ton exchange suspended business for three weeks during the bank holiday. Inflation, better business and brighter prospects for the future all have played big parts in the cotton boom. Prices have been on the upgrade for 10 weeks Set backs have been slight and temp orary, and for the past two weeks, the advance has gained impetus almost daily. It is estimated from records at the cotton exchange, that farmers are holding about 3,000,000 bales | of cotton from previous crops. Hundreds of thousands of bales I have moved to market in recent weeks, as farmers took advantage of the rising market, and (71 the | basis of the cotton still held off I the market it is estimated that southern farmers still holding cot ton are $50,000,000 richer than they were .three months ago. Jelke's Divorce Case With Court NEWPORT, R. I., May 31.— (UP).—Court today took und?r advisement the sensational cross divorce suit of F. Frazier Jelke, 53, New York and Chicago mil lionaire. and his wife Eugenie, 27, niece of the late Senator Os car W. Underwood of Alabama. Superior Judge Charles A. Walsh, who heard the case with out a it»ry i<» expected to make known his decision late today or tonight. Georgia Judge Rules on It and Wants Supreme Court Decision MARIETTA, Ga„ May 31.— (I" I *).—The federal act legaliz ing 3.2 beer was ruled unconsti tutional yesterday by Judge J.j H. Hawkins, a Georgia circuit! judge, who said he was anxious for the L'. S. supreme court to, pass on his decision. Judge Hawkins' ruling was made in dismissing writs of ha beas corpus and petitions for an injunction brought by owners of a truck seized with 220 cases of beer here two weeks ago by Sheriff E. M. Legg. The jurist held that Georgia I law prohibits the transportation! wtthin the state of intoxicating] liquors and that 3.2 beer is in-, toxicating under Georgia's "bone dry" statute. * j j "This being so," the judge i said, "the act of congress under taking to leagalize the manufac ture, sale anil transportation of! beer containing not more thanj ( 3.2 per cent of alcohol by weight, is unconstitutional, null and void as being violative of the 18th amendment to the federal con ' stitution." I | The petitioners, who announc ed plans to appeal the case, con-i i tended that seizure of the beerj I violated interstate commerce reg [ ulations. j The first test case of the new I beer laws in a federal court will | be heard in Atlanta today be ! fore U. S. District Judge E. I Marvin Underwood. It is a pe j tition for relief brought by the j owner of another beer truck j seized here, similar to the case j heard by Judge Hawkins yester i day. New Lakes to Gulf Water Way Is Completed NEW ORLEANS. May 31.— (UP).—The 25-year struggle by producers and merchants of the I south and middle-west for marine transportation ended with a cele bration today when the lakes-to i £u If waterway connecting Lake Michigan with gulf waters was i opened with elaborate ceremo j nies. HyperionWinner In Derby Today EPSOM DOWNS, Eng., Mav 31.—(UP).—Lord Derby's Hy perion won the 150th running of the historic derby todav before a roaring crowd of 300,000 people, headed by the King and Queen of England. NEW DEATH IN. MINE STRIKE Tennessee Sheriff Warns Guard May Be Called Out Again JAMESTOWN, Tenn., May 31. (UP).—Sheriff James Peavyhouse today said he may ask for the re turn of national guardsmen to the Fentress county coal mine area in a few days because of the new outburst of violence. Five men were arrested today, charged with murder in connec tion with Burton Brewer's slay ing. They are: Milton and Mitch Copeland, brothers; Beecher Pa teet, Tom Hall and Ulyses All red, all union strikers in the Fen tress coal and coke mine. DIES IN NASHVILLE; ANOTHER WOUNDED NASHVILLE, Tenn., May 31. (UP).—One coal miner, Burton Brewer, from Wilder, Tenn., died early today and another was in a critical condition because the pair refused to iiuit work after orders by strikers. Lige Shepherd is in the hospital here. FIND LOU MOORE PLACED 3RD IN RACE INDIANAPOLIS, May 21. — (UP).—Lou Moore, Los Angeles, won third place in the race yes terday, officials announced to day, after a recheck of the tim ing apparatus. SPECIAL TAX ON BANKRUPT GOODS INVALID j Judge McElroy Rules in Case of Max Brener F.t A1 Vs. City APPEAL IS TAKEN TO HIGHER COURT In the superior court yesterday afternoon, Judge I\ A. McElroy held that a city ordinance which provided a special tax of five per cent of the purchase price in eases where bankrupt stocks are bought and sold by itinerant mer chants was invalid and the city of Hendersonville was permanently restrained from collection of such a tax. The decision was rendered in the case of Max Brener, Law rance Rubenstein, and Herman Brener, trading as Max Brener & Co., against the City of Hen dersonville and K. Ii. Avledge, tax collector. The ease was heard on the facts without a jury. It was set out that the plaintiff purchased the bankrupt stock of H. Patterson a few years' ago and sold it at a sale after paying li censes of $100 to the State and City of Hendersonville. The city ordinance provided for a five per cent tax on the purchase price. The purchase [price in this instance was approx imately $2G,000. The decision was appealed to the supreme court by counsel for the city, following the ruling of the court. What They Say About Business Conditions in Hendersonville E. \V. HAM, manager J. C. Penney Co.—"Our books for the month were closed today and we were pleased to note an increase in business over May of last year—the first increase in many months over the cor responding period of the pre vious year. While this increase was not due to price advances, as none had been made to the retail trade, it is true that wholesale prices in almost every line are advancing rapidly. This is particularly noticeable in [ cotton and woolen merchandise, ' and when present stocks are sold out, buyers will pay more for household materials and wearables than they have paid for a year or more." CONDITION UNCHANGED The condition of Mrs. J. L. Dalton, shot three times on Sun day evening, allegedlv by her hus band, Joe Dalton, was unchanged, it was stated at the Patton Memo rial hospital today. Mrs. Dalton's condition has remained about the same since she was injured, and is critical. FIGURES SHOW SOUTHEAST BUSINESS GAINS WITH NEW SPURT IN STEEL INDUSTRY NEW YORK. May 31.—(UP) The steel industry is now operat ing above 40 per cent of capacity, The Iron Age said today. ATLANTA, May 31.—(UP).— The Sixth District Federal Re serve bank here yesterday report ed its statistics for April indicat ed "further improvement in busi ness in the Southeast." Gains during April over March vere reported in retail and whole sale trade, cotton consumption, building permits, life insurance sales, orders booked by lumber mills and in Alabama pig iron production. 7 he bank's business statistics are gathered from the six south eastern states it serves—Florida, Alabama, Georgia, Louisiana, Mis sissippi and East Tennessee. Total sales in April by report ing department stores showed an increase of 21.1 per cent over March, the review said. The sales averaged 12.5 less than for April, 1932, however. The increase from March to April was 30.7 per cent on a daily average basis, and after adjustment for the changing date of Easter and seasonal in fluences, the adjusted index of ■ daily average department store sales showed a grain of 14.5 per cent over March, compared with an increase of 1.8 per cent at the same time last year. Wholesale trade increased 9.6 per cent from March to April, and was only 1.6 per cent below the total for April last year. 1 Life insurance sales gained 12.1 per cent for April over March, but were 13.3 per cent less than for the same period last year. An increase of 17 per cent in building permits issued in twenty cities of the district was report ed for April over March, but con tract awards further declined, and both series declined as compared with corresponding periods of 1932. Cotton consumption increased 4.6 over March and was 22 per cent greater than in April of last year in the three states of the district for which figures were available. Cloth and yarn mill production was substantially greater. Alabama pig iron production trained 15.3 per cent in April ^ver March, but was 56.3 per cent less than a year ago. Plans "Longest Flight in History" Intent oji shattering the world's non-stop distance flight record of 5,341 miles, General Francesco de Pinedo is tuning up his big Bel \anca monoplane at Floyd Bennett Field, New York, for an early take-off, De Pinedo, who has flown the Atlantic twice, hopes to hop non-stop from Now York to Bushire, Persia, 0,200 miles, or farther. Fie is shown alighting from his ship at New York. S1N0-JAPANESE TRUCE NOW SIGNED, TOKIO ANNOUNCES A Formal Conversations for an Armistice Began at 10 a. m. Today TOKIO, May 31—(UP).—A truce was signed formally today between Japan and China, the war office announced. PEIPING, May 31.—(UP).— Formal Sino-Japanese conversa tions for an armistice in North I China were scheduled to open at 10 a. m. today at Tangku on the | coast east of Tientsin after a fortnight of preliminaries. Gen eral Okamura, vice chief-of-staff of the Japanese kwantung army which has invaded North China, p.nd General Hsuanping, member j of the general staff of the Chi (nese army, headed the respective delegations. The Japanese, with their arm ies almost at the gates of I'eiping and Tientsin, had ceased their advance yesterday as peace hung in the balance. The negotiations at Tangku were for a truce that would halt the warfare which has resulted in Japanese occupation of a huge slice of North China below the great wall. A tour by the United Press correspondent to the battle lines north of Peiping revealed that hostilities were in abeyance for the first time in weeks, and that] the hitherto incessant roar of ar tillery and rattle of machine guns had ceased. Only in the north, on the southernmost border of Chahar, did the military menace still ex ist. There Feng Yu-Hsiang, Chi nese military genius, had his forces marshalled at Kalgan with the evident intention of oppos-j ing the Japanese in spite of an agreement the Nanking forces) might reach, and to put a widire between them and the short route | at Soviet Russia's domain. BAPTISTS OMITTING MID-WEEK MEETING In the absence of the pastor of the First Baptist church, Rev. W., H. Ford, who is holding a series \ of meetings at the First Baptist] church of Salisbury, there will be no prayer meeting at the First1 Baptist church this evening in or der that the members of this church may have the opportunity to attend the revival meetings now being held at the Grove Street Gospel church. BAN HOLIDAY NEW ORLEANS, La.. May 31. (UP).—Directors of the New Or leans Cotton Exchange yesterday voted to keep, the exchange open for business "Saturday, June 3, notwithstanding the fact that the day Is a legal holiday in Louisi-j ana, commemorating Confederate Memorial day. GOLD PAYMENT TO BE SOUGHT That or Equivalent on U. S. Bonds Remains British Goal By FREDERICK KUH United Press Staff Correspondent LONDON, May 31.—(UP).— The British bondholders' move ment designed to force the United States government to pay its bonds in the equivalent of gold dollars had assumed international proportions yesterday. The British "bondholders' pro tective committee" was advised that similar protective bodies were being organized in Berlin, Paris, Amsterdam and Zurich. Each committee is working in dependently of the others, but they all are working along the same lines, a member of the Brit ish group told the United Press yesterday evening. The British committee held its first formal session last night. A representative of the Amsterdam Stock Exchange committee, lately in London, met with leaders in the organization here, to consid er how they might be.'-t proceed. Sir Harry Gloster Armstrong, leader in the British movement, and others directing the protec tive association declared they would go to the "highest courts" to make the United States ipeet. its contract contained in gold securities, and pay gold bonds in gold, or its equivalent. It was intimated they intended to carry the case to the Un'ted States supreme court, if neces sary. to get a final decision. Meanwhile, a bitter dispute waged in high quarters here over whether to pay or default the June 15 war debt installment due the United States. A controversy within the cabi net itself was believed revealed by Neville Chamberlain's an nouncdriient in the house of com mons that he win undecided whether the government could is sue a statement on the next war debt payment prior to parlia ment's adjournment on Friday. Chamberlain, chancellor of the exchequer, also declared he had no information on the press re ports that he intended to "leave the matter to a free vote in com mons." Semi-officially, it was under stood the cabinet's decision on the June payment might be held up until Prime Minister J. Ram say MacDonald returns from ^ holiday in Scotland—and he may not get back until next Monday. Chamberlain was said to be opposed to turning over the iswie (Continued on page six) COUZENS NOT WITH INITIAL CONTINGENT Group Ready to Bargain for Revival of Trade Arrangements ARE ARMED FULLY WITH INSTRUCTIONS WASHINGTON, May .'10. (UP) Armed with deti *-!ed instructions from President Roosevelt, Amer ica's representatives set out to day for the London economic con lerence, where they will bargain with other world powers for in ternational agreements to foster a revival of world trade. By FREDERICK A. STORM WASHINGTON. May 31. (UP) America's delegation to the world economic conference still is in complete on the eve of the mis sion's departure for London, the White House announced last night. Tentative list of delegates and advisors made public officially last night follows: Cordell Hull, secretary of statu and for years an expert on tar iffs, will he chairman of tho dele gation. James M. Cox, Ohio publisher and one time Democratic candi date for president, vice-chairman. Senator Key Pittman, Nevada, chairman of the foreign relations committee. He is a Democrat. Senator James Couzens, Michi gan, a Republican and one of the world's richest men. Representative Samuel D. Mc Reynolds, a Tennesse- Democrat, chairman of the house foreign affairs committee. Ralph W. Morrison, a retired banker of San Antonio, Texas. William C. Bullitt, the adminis I tration's "man of mystery" and , now assistant secretary of state, i will be executive officer. James P. Warburg, economic I adviser to the state department will serve as financial adviser to the delegation. The legal adviser is Fred "K. Nielsen. Herbert Feis, state department economic aviser, will be chief technical adviser. Other technical advisers named were: Rexford G. Tugwell, assis tant secretary of agriculture; Frederick E. Murphy, Minneapo lis, Minn., publisher: Henry Chal j mers, Victor S. Clark, Edmund E. Day, Frank J. Delany, Walter R. Gardner, George C. Haas, Harry 0. Hawkins, Henry Morgenthau, Sr., Charles William Taussig, eco nomic adviser to President Roose velt; Benjamin B. Wallace. Les lie A. Wheeler and James Wilson. James C. Dunn is to be secre tary of the delegation. The mission left Washington this morning on a special train to I New York and will sail in the af [ ternoon. Senator Couzens, how I ever, will be unable to leave un |ti! June 7, he has announced. VISITORS AT TODAY'S ROTARY GATHERING The Hendersonville Rotary club met at the Skyland hotel today in i the regular weeklv meeting. The I program was in charge of Harry 1 Buchanan. 1 The club was entertained by Lionel Reno, memory expert who is here for performances. Bert A. Boyd, who has spent the past winter in Mami, was present at the meeting. Mr. Boyd, who formerly resided in Indian apolis, is now a part time resident of Hendersonville. Carl Knapp, of Daytona Beach, was also a vis itor at the meeting. Howlono DIO he I SOMAS , PRESIDENT OF THE U& 9 iSHlS BlRTHOAV ? Wat great HONoe WAS BESTOWED! UPON HIM ^ IN igos? Per correct tntw«ri to tk«M quMtioM, pl««»c tin to pag* It
The Times-News (Hendersonville, N.C.)
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May 31, 1933, edition 1
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