' HENDERSON
( ; \TEVVAY TO
central
CAROLINA
TWENTY-FIRST YEAR
PHONE SERVICE CEASES; DISMANTLING STANTS
Stabilization Os Dollar
As Result Os Devaluation
Is Expected In New York
NAIION VIRTUALLY
ON GOLD STANfYARO
AGAIN, N.Y. THINKS
President Roosevelt Has At
His Command Stabiliza.
tion Fund of Over
$2,000,000,000
TREASURY OFFERS
$35 FOR ALL GOLD
Ounce Price Fixed For Yel
low Metal Under New Sys
tem; Revamped United
States Monetary System Is
Effective in Full; Results
Looked for Now
Washington, Feb. i.— (AIM
TT: TMilted States was described
t«da> fy Secretary Morgenthai: of
tin- Treasury as being on “a 1934
model of a gold bullion standard”
as tiie result of devaluation of the
dollar.
Professor Irving Fisher of Vale
leslilied to the House that Hie
existing Federal Heservo system
""'ll now he lucky If if. escapes
first met ion altogether.”
speaker Kainey predicted the
r,«rl v adjournment or Congress.
The iTouse today worked on ap*
I'rippriiUlftos hills and the iS'imic
on the Lawrence water
treaty.
.New York, Feb. I.(AP) —President
Roosevelt's proclamation devaluing
the dollar approximately. 11 percent,
u> understood by Wall Street mone
(CoiiUnutd on Page Four.)-
WANTS PARK ROAD
ATOF'BLUE RIDGE
Raleigh, Feb. t.—(AIM —A strong
n commendation that North Caro
lina’s portion of the national “park*
to-park” highway be constructed
along the general crest of the Blue
Ridge Mountains in this State today
w» on file in the offices of the
Btat- Highway and Publi c Works
Commission.
The action was taken late yester
day at a joint meeting of the com
mission with Governor Ehringhaus,
the State Advisory Parkway Com
nii.— ion and other interested parties.
The projiosed scenic route—to be
finally decided upon in Washington
will connect Shenandoah national
I'aik with the Great Smoky national
park.
Sales Taxes
Carry State
RevenuesUp
(icncral Fund In
come $1,208,108 in
•lanuary, or 300 Per
cent Increase
Ra'eigli, Feb. I.—(AP)—A general
''hkl 1 1! veutie total of $1,208,108.57 —a
|„, r con t incraase over the same
pm tod for 1983 —was collected by the
Btat( for the month of January, ae
'•'irding to a statement on file today
>n the office of A. J. Maxwell, state
commissioner of revenue.
Two thirds of the amount collected
in the general fund was ascribed by
"'ate officials to the general sales
f which was nqt in efiTfct in Jan
-111,1 v of last year.
Highway department collections for
• -cumu-y also showed a gain, the total
" r >1.832,292.12 being $554,277.01 great
r>l 'hart for the corresponding period
~f Ihsl year.
1|,,: general sales tax, since it went
"do effect last July 1, has brought
111 a total of $3,317,726.16.
figures showed that the total beer
,ot 111 the seven months of the fiscal
year $205,628.79.
iknltrrson
I I. S. Dollar Is Devalued
40.94 Pet. Gold Con lent
On Former Value Basis
“Stratoflier” Killed
v:.
mm
Ik A II
C 'onimandcr Pedosenko
Tilth' of ( lif world’s highest flying
man was claimed by Commander
Paul Fedosocnko, Soviet aviator, in a
radio message from the skies a few
hours before he and his two com
panions crashed to their deaths in at
tempting to land the Soviet stratos
phere balloon east, of Moscok Tuea
day after climbing to a reported
height of 12 3-4 miles. All three were
killed in the crash and their instru
ments all destroyed.
SOVIET 7 UP
ITS WAR SUPPLIES
Make Many More Tanks,
Artillery, Machine Guns
1933 Than Ever
Moscow, Feb. 1. —(AP)—The Soviet j
Union produced ‘‘many more tanks, |
heavy artillery and machine guns in j
1933 than in 1932,” the president of
the supreme economic council, told I
the all-union congress of the com
munist party today.
Then using the term applied by
Stalin to those cherishing warlike
aims against the Soviet Union, he ad
ded:
“If those swines’ noses compel our
industry to mobilize in order to arm
our red troops, I think we will do it
with morn strength and more suc
cessfully than wc have ever done any
thing before.”
The unqualified support of the party
was given Joseph Stalin in his stand
for a “keep-off-thc grass” foreign po
licy and preparedness for any emer
gency.
In a gesture the like of which never
had ibeen seen before the 17t.h party
congress roared approval of his spe
ctacular report in full, gave him an
unprecedented mandate of confidence.
"We warn everybody,” they heard
Stalin sternly declare in his report
last week, “not to poke their snouts
Into the Soviet potato patch.”
And he added:
“It is a mistake to think an am
bition to wage war against the Soviet
Union and share its territory is held
only by Japanese military circles.
“We know very well that it is shar
ed by some political circles in Eu
rope,” this last, it was believed, in
tended as a reference to Germany.
COMMITTEE OF TEN
TO AID MORGENTHAU
Washington, Feb. I.—(AIM—
Creation of an expert, committee
of ten to Sksfst Secretary of The
Treasury Morgen than lii adminis
tering the equalization fund was
approved today fly the House
Ways and Means Committee as
part of the revenue bill.
ONLY DAILY NEWSPAPER
LEASED WIRE SERVICE OF
THE ASSOCIATED PRESS.
HENDERSON, N. C. THURSDAY AFTERNOON FEBRUARY 1, 1934
I
| Huge Potential Credit Ex
pansion Is Anticipated by
Wall Street Finan
cial Experts
-
! TREASURY WILL FIX
THE RATE OF SPEED
Similar Situation from 1914
to 1929 Brought Expansion
to 36 Billion Dollars; Belief
Tacit Understanding Had
as to Pound Sterling’s Con
duct
Washington, Feb. 1. (AP) Amer
ica went to work today with its dol
lars devalued by 10.91 per cent of
their former gold content, while the
treasury jingled a $2 770,000,000 profii
in its pockets and watched for jiggles
in dollar levels abroad.
President. Roosevelt had at Mis eom
mand today a stabilization fund nuub
•ip of S2.(KK_UHX).O(Ki of It is n« w money.
But early official indical ions were
t:liat H would not at once be. wielded
drastically.
Further the United States was <1 «•
dared to be on a sort of “modified
gold standard” or rather on an “in
ternational gold bullion standard.”
By his unexampled steps yesterday
Mr. Roosevelt held that until ‘‘fur
ther notice” the dollar was revalued
at 59.06 percent of its former gold
content and that the Treasury would
offer $35 an ounce for “any and all
gold.” Any major currency adjust
ments abroad, however, were, looked
for as the tip for a. “further notice”
signal.
But for the present, the revamps
United States monetary system was
effective in full, the first step was
taken at 3:10 p. m. yesterday when
the chief executive signed the pro
clamation cutting the dollar’s gold
content from 25.8 to 15 5-21 grains of
gold nine-tenths fine.
The “international gold bullion
standard” angle was explaintu as
(Continued on Paae Three.)
SATTERFIELD CASE
IS READY FOR JURY
Goldsboro. Feb. l. (AF)~ Evidence
I in the Trial “of Rufus Satterfield' on
j trial charged with the murder of Her-
I bert Iron worker of this city.
I was reopened today by Judge Parker
on motion of the prosecution in the
casc.
Goldsboro, Feh. I.—(AP)—A jury
here today heard final arguments and
awaited only Judge R. Hunt Parker’s
charge before taking the case of
Rufus Satterfield, middle-aged mar
ried man who is on trial for his life
for the “triangle killing'’ last Oc
tober 22 or Herbert Grice, local iron
worker.
Testimony in the case was conclud
ed yesterday and arguments by coun
sel begun. When the trial recessed
last night thrcee of the six lawyers
ha.d addressed the jury, and court at
taches said the case probably would
be turned over to 12 men today at
noon.
Reactions
In Dollar
i
In Europe
. (By the Associated Press.)
l President Roosevelt’s action in cut
| ting the value of the dollar caused
sharp reactions fn foreign exchange
markets abroad today. The value of
t,he dollar depreciated, as had been
expected .ibut financial observers not
ed instantly that the reaction abroad
was not nearly as sharp as the presi
dential decree.
The dollar went down, but did not
stay down. In London it plunged to a
rate of $5.02 to the pound, but rose
to $4.99 1-2 to the pound later.
t-%. 11*5
Hailu Btspatrii
PUBLISHED IN Tills SECTION OF NORTH CAROLINA AND VIRGINIA.
Chief Congratulates New Aide
Secretary Morgenthai. Marriner 5. Levies
Following his appointment as assistant secretary of the U S ina urv
Marriner \S. tholes was congratulated at Washington by Secretary d
the Treasury Morgenthau. He will have charge of hanking problem*
new to the administration (Crntrut press)
Capture Os Sankey May
Unravel Linbdergh Case
Keenan’* Remark of This Being ‘‘End of America’s Pub,
lie Enemy No. I*’Seen As Belief Sankey Knows
Lindbergh’s Mystery ; Ad mils Two Kidnaping*
Chicago. Feb. 1. (AP) —A solution
of the long standing: mystery of the
kidnaping and slaying of Ghanes Au
gustus Lindbergh, Jr., was sought to
day through questioning of Verne
San key, 12, one time ranchman who
allegedly turned to the “snatch”
racket.
San key, described by authorities as
"America’s public enemy No. 1,” was
seized late yesterday afternoon by
Federal agents and city detectives
in a barber shop, on information fur
nished by an annoymous source, and
confessed, Melvin H. Purvis, of the
Federal Bureau of Investigation, said
that he had participated in two kid
napings—that of Haskell Bohn, of St.
Paul, and Charles Boettcher, 11, the I
N.C. SI ATE DEAN '
TO BE APPOINTED
Dr. Graham To Name Offi
cial To Serve In Admin,
istrative Role
Daily Dispatch tlurean.
In the Sir Walter Hotel.
ItY J. C. B ASKERVIIrL.
Raleigh, Feb. 1. —While it may be
several weeks before he will be able
to name the new Dean of Adminis
tration for State College here, au
thorized by the Board of Trustees ot
the Greater University of North Caro
lina in their meeting yesterday, Presi
dent Frank Graham said that he
would endeavor to make the appoint
ments as soon as possible. The trus
tees authorized the naming of an
acting Dean of Administration in a
resolution adopted extending their
sympathy to Dr. E. C. Brooks, vice
president of the Univevsity in charge
(Continued on Page Three.)
Insull Continues
To Stay In Greece
For Present Time
Athens, Greece, Feb. I.— (AP)
—The official status of Samuel
Insull, former American utilities \
magnate, in Greece, was stilf up
In the air today. The minister of
the interior said there was no de
cision in the case, but that Insull
may reside momentarily in
Greece.
WITH E R
FOR NORTH CAROLINA.
Cloudy rain in northeast and
north central portions tonight;
Friday, fair somewhat colder on
the coast tonight and Friday.
1 50
Denver capitalist.
The former Gann, S. D., ranchman
and oiie time railroad engineer de
nied he had any connection with the
Lindbergh kidnaping, or the abduc
tion of Edward G. Bremer, of St.
Paul and William Hamm, Jr., also of
St. Paul, bul the authorities pushed
their grilling of him in the hope of
uncovering some new light on these
“snatches,” particularly the Lindbergh
case.
Frpm St. Paul County Attorney M.
F. Kinkead was enroute to Chicago
to aid in the investigation. It was
Kinkead who announced early last
'Continued on Page Three.) .
State Authorities Fear Loss
of Huge Gas Tax as
' One Result
Dully Dispatch Bureau
lit the Sir Walter Hotel.
IIV J. C. BASK ICR VIM*.
Raleigh, Feb. I—State officials as
well as motor truck and bus opera
tors are considerably worried as a re
sult of the bill now in Congress,
known as HR 6836, that would put
the regulation of truck and bus trans
portation, as well as the fixing of
rates, in the hands of the Interstate
Commerce Commission. For in addi
tion to putting all franchise carriers
under the control of the IOC, the bill
would also put the contract carriers
which includes all the for-hire truck
operators, under the control of this
commission. 1
The truck operators maintain that
this bill is sponsored by the railroads
(Continued on Page Four.)
Stocks Up
Following
I)ollarCut
New York, Feb: T— (AP) — Broad
upswings in stocks today greeted the
proclamation of President Roosevelt
setting the price Os goltL tCT $35 an
ounce and devaluing the dollar.
Mining equities led with price ad
vances of $1 to $lO per share, and all
other issues also advanced.
>3l
PUBLISHED EVERY AFTERNOON
EXCEPT SUNDAY.
Business Crippled
By Tie-Up Due To
Franchise Impasse
Receives Threats
I-
Ab Walker
With threats of a death plot and
the accusation, “We know you killed
Smith Reynolds,” Ab Walker is be
ing victimized by extortionists.
He was indicted for murder with
Libby Holman, Reynolds’s wife,
after the tobacco heir’s mysterious
death in 1932. Both were cleared.
(Central Press )
SAYS GOVERNMENT
PLANS WARFARE ON
THE BOOTLEGGERS
Going To Do All Possible To
Put Them Out of Busi.
ness, Collector Rob
ertson Says
N. C. BOOTLEGGERS
ARE PAYING TAXES
Will Not be Molested Long
as They Pay, for Federal
Government Does Not Re
cognize State Prohibition
in North Carolina; No
Licenses Issued Them
Duily Dispatch Bureau,
In the Sir Walter Hotel.
BY J. C. BASKERVILL.
Raleigh, Feb. I—The Federal gov
ernment is going to do everything
possible;, to put the bootleggers out of
business, Charles H. Robertson, Col
lector of Internal Revenue for North
Carolina said today, if for no other
reason that it, cannot afford to do
otherwise. It is going to take a lit
tle time for the Government to get
(Continued on Page Four.)
Weather Is
W armer In
The South
But Nearly Every
Section Has Rain;
Fair and Colder
Seen for Tomorrow
(By the Associated Press.)
Rains and rising temperatures were
general over the South today with
the passing of two days of the coldest
weather in recent years.
Rain fell in eastern and central
North Carolina, with snow in Ashe
ville an din other places in the west
ern part of the state. The weather
forecast today was for fair and cold
er tomorrow.
Eastern Tennessee and Western
North Carolina were the coldest parts
of the South.
6 PAGES I
TODAY I
FIVE CENTS COPY
——
There Were Hopes of Some
Sort of Truce or Order
from State Authority
Ending Crisis
DISMANTLING JOB
CHECKED BY RAIN
But Will Be Resumed and
Carried Out Completely
Unless Agreement Reach
ed, Telephone Authorities
Say; Situation Unpreced
ented In State
Winborne Ready
To Give His Aid
Raleigh. Fob. l.—f AJM— Ck air
man STSftiley Winborne, of the
State Utilities Commission, said to
day be was ready to assist in an>
possible way in the Henderson
telephone controversy,~l»ut that he
had not been called- On. He said
the commission can compel the
utility to give service, but cannot
force the city to accept “
The city set the franchise rate
at not less than $2,500, and refuses
to accept service unless the amount
is paid, or agreed to he paid. The
commissioner said he asked the
city authorities yesterday if they
wanted temporary service, and that
he received no reply.
Henderson was completely without
telephone, service today, both local
and long distance, as Ihe result of the
Carolina Telephone and Telegraph.
Company closing its exchange last
midnight as the climax to the dis
pute between the company and she
City Council over the terms for re
newal of its thirty-year-old franchise
which expired last September 29.
With business crippled and subscrib
ers generally gj eatly inconvenienced,
there were hopes, whatever their bas
is that the emergency would soon pass
in a truce or a temporary agree
ment of some kind pending a per
manent accord between the city and
the company. The city demanded
not less than $2,500 annually for re
newal of the franchise for ten years,
and the company refused to accept.
Services was shut off to lessen the
period of time after January 20 when
(Continued on Page Four.)
1 our Americans
Jailed In Spain
Granted Pardons
Madrid, Spain, Feb. I.—(AP)—Am
erican Ambassador Claude Bowers
was informed by Spanish government
officials today that the sixth section
of the supreme court had approved
pardons for four Americans held in
jail at Palma for an assault recently
on a civil guard.
Says Japan
Not Looking
For Any War
General Conceives
No U. S. Fight, and
Will Battle Soviet
Only if Forced
Toyko, Feb. I.—(AP) —There will
be no Russo-Japanese war “unles§
the war is carried to us by the other
side” General Senjuro Hayashi told
the Associated Press today in an iiP
terview, the first he has giv.en on
the subject.
At the same time Hayashi said, “I
am incapable of conceiving any
Japanese-American differences justi
fying a belief in a future Japanese-
American war. We are flaking n 8
preparations for war with Russia. Out
dispositions in Manchuria are merely
aimed at fulfilling our treaty obliges
tions to defend Manchukuo. We are
oiit for peace.”