V
"THE MICHIGAN DAILY
#
4
SUNDAY, JUNE 5, 1932
I
_ __
r"=""
K
- r
D0 1Y SENATE
a Company Chairman
.rs as Witness Before
igress Committee.
WERE COMBINED
ides Described; Retired
00,000 in Bonds by
iing New Stock.
MAYORS MEET IN DETROIT
Hol
as
mes Sees Today
Greatest Known
'Age of Transition'
"We are passing through
the
4SINGTON, June 4. --(P) -
erations of a gigantic copper
ares pool in the spring of '1929
re hunted in the Senate stock
,rket investigation today through
timony by John D. Ryan, chair-
,n of the Anaconda Co.
q tall, gray-haired man with
ell-rimmed spectacles, Ryan was
orn by Chairman Peter Norbeck.
told of his connection with the
3per company and said he was
o a director in the National City,
nk. Then he recounted the ab-
'ption by the Anaconda company
the Andes, Chile and Green Can-
ea Copper companies in 1929.
uestioned by William A. Gray,
nmittee counsel, Ryan told 'of
luisition of the companies by
unsfer of stock .
Debt Retired.
'he witness said $211,000,000 of
aconda's funded debt was retired
1929 by the issuance of new
Eck. He named the United Metals1
ling Co. as a subsidiary of Ana-
ada and said it sold the parent
mpany's metal. It was also an
ermediary b c t w e e n Anaconda
ci the banks,.
"United Metals did a good deal of
lding in the market in 1929?"
ay, asked.
Ryan explained that the Chile
npany was largely owned by
iggenheim and that the transfer
stock was arranged on the basis;
73-100 of a share of Anaconda
each share of Chile stock.
It was desirable," Ryan said,
lat the Chile and Anaconda stock
brought together on the market
that when the final exchange
s agreed upon, Chile would not4
so high that there could be no
change, or Anaconda so high,
at stockholders would feel their
terests would suffer."
aCharges Price Forcing.
'In other words," Gray replied.
ou were buying and selling in
:er that the prices might be
aintained so that the conversion-
uld be made at the ratio agreed
on."
Ryan explained that the ratios1
are fixed by "engineering data
thout - consideration to s t o c k
arket values."
Gray tried vainly to get an ex-
nation of how the market prices
,d been maintained. He pointed
t, however, that 98 per cent of
e Chile stock was converted so
e attempt was successful.
At the beginning of 1929, Ryan
id, the United Metals company
rd 40,O00 shares and at the end
the year held 202,000, after the
aversions had been made.
When mayors of many of the country's larger cities. gathered in De-
troit for a conference on mutual problems, Mayor James J. Walker (cen-
ter) of New York was seen talking things over with Mayor William H.
MeKeighan (left) of Flint, Mich., and Mayor Frank Murphy (right) of
Detroit.,
ISTORY N PLAN
SUMMER TRAV 1E LS
Crmss Wil Study in Northerin
Europe; Dow to Visit in
Italy and Sicily.
Several members of, the , faculty
of the history department will tra-
Uel this summer in Europe and the
United States for the purpose of
doing extensive historical research,
it is announced.
Prof. A. L. Crosv will go Ic Nor_-
way, Sweden, and Denmark for a
general observation of these coun-
trues and their political and social
condicition. Prof. E. W. Dow plans to
visit Italy and Sicily for observa-
tion and study in medieval history.
Ki. H. Reichenb4ch will also spend
the summer studying in Europe.
Prof. Preston W.Slosson will leave
ait the end ocf the summer term to
give a series of lectures in English
universitjes under the Carnegie
foundation's traveling professor-
ship arrangement.
Professors D. L. Dtimond and V.
W. Crane will do research work in
libraries in the east after the sum-
mer term. Prof. H. M. Ehrmann
will go ,to Washington and New
Yotk after the summer term to do
PRAISES MICHIGAN
CHILDREN'S FUND
Michigan's $10,000,000 children's
fund, established by Sgen. James
Couzens, benefits not only children
of Michigan, but children the world
over, according to Dr. Hugo Freund,
speaking before a Detroit women's
club, where a symposium on child
welfare was being held.
"Children have benefited directly
through prevention of infectious
I and contagious diseases, nutritional
diseases and dental decay," he said.
"The children of the whole world
have benefited indirectly through
research the fund is making poss-
ible.
"Although ; was not the original
intention to give relief, the present
economic emergency has made it
necessary to expend $90,000 within
the last year, in buying proper food
and clothing for the children of
indigent parents. First prevention
of disease comes through proper
food and clothing."
More than $700,000 is expended
annually, said Dr. Freund.
historical research and writing
Prof. P. W. Wheeler will spend the
summbr at the University of Cali-
fornia engaged in historical re-
search and writing. Prof. B. W.
Wheeler will, spend the summer at
the University of California en-
gaged in historical research.
- U2 TAIN .P
Parker, Sheaffer, Watezwnn,
Conklin, etc., $1.00 and up.
large end. choice assorment
- -iL o ftl L L,
greatest period of transitiojn the
world has ever known," Prof. Roy
H. Holmes, of the sociology depart-
ment, said in an interview yester-
day. "In past, the leaders of civiliz-
ation have been soldiers a n d
priests. Today they are economists
and business men, but in the future
-they will be scholars and scien-
tists.
"Put the masses must be educat-
ed befdre the intellectuals can have,
prestige." He went on to say the
mass interests have been fashioned
?o best serve themselves and so-
ciety. Howeve, there is a. growing
feeling that the policy of individual
selfishness is not the best for social
and economic progress. Holmes
suggested that social planning, co-
operation of the people as a whole,
would be a great step in bringing
about better social conditions and
intellectual leadership.
Speaking of the depression, he
said that it would probably get,
worse before it could get any better.
"Immediate, but temporary relief
could be brought about by provid-
ing a vast amount of public work
and by selling bonds as we did dur-
ing the War. However, we cannot
hope to see a permanent solution
to present business conditions un-
til something is done towards na-
tional planning."
When asked whether socialism
would be instrumental in ending
the depression, Professor Holmes
stated that the tendency would be
more towards a form of controlled
capitalism.
LOST-Blue Parker fountain pen
between Michigan Daily office
and Jordan Hall, Finder call
23281. Room No. 483. Reward.
EUROPE CALLS!
Intensive Study of Ammunition
Problems Will Be Feature
of Two-Week Course.
Reserve and Reguar Army offi-
cers from various part of the coun-
try will assemble here again this
summer. The officers will devote
intensive study of problems of am-
munition manufacture and design save a great deal of labor.'.ney
in the University laboratories, ac- were invented by men working in
cording to Prof. Alfred H. White,;the hatcheries. -4-
Colonel in the Ordance Reserve,
and commanding officer during the chemical engineering; Albert E.
session. The course will last from White, Lt.-Col. Ord. Res., professor
July 31 to Aug. 13. of metallurgical engineering; Claire
The ordance training centers, I Upthegrove, Major, Ord.Res., pro-
held only at Michigan and the fessor of metallurgical engineering;
Massachusetts Institute of Techno- John C. Brier, Major, Ord.Resopro-
logy during the summer and at Le- fessor of . chemical engineering;
land Stanford university in the Frank A. Mickle, Major, Ord.Res.,
winter, are not camps of ordinary professor of mechanical engineer-
training, but are specialized study ing; Charles B. Gordy, Capt., Ord.-
periods for officers whose work in Res., professor of mechanical en-
wartime is the manufacture and gineering; and C. B. Pierce, Capt.
handling of ammunition. There Medical Res., medical officer. In
will be about 50 men attending the addition to these University faculty
session and most of them are men, three regular Army officers
chemical engineers familiar with will instruct,-P. J. O'Shaughnessy,
exolosives and metals. Lt.Col., retired, Ordance depart-
The following teaching staff has ment; and Maj. R. W. Bodine and
been announced: Col. White, com- Capt. Arthur B. Custis, of the Or-
manding officer and professor of dance department.
THIS THIIS
COLUMN LAET NGT
AT3PM DE~CIIGA ~M
2-DAYS ONLY-2
State Fish Hatcheries
Use Vacuum Cleaners
LANSING, June 4. - Michigan
fish hatcheries are trying out a new
water vacuum-cleaner and an au-
tomatic fish feeder. By means of
the water vacuum-cleaner it is pos-
sible to clean troughs without re-
moving the water or disturbing the
fish.
The automatic feeder has been
found to permit a more equalized
growth of fish by regulating the
amount of food. Both devices, as
well as being highly efficient, will
SUNDAY
and
MONDAY
PORCH AND CE ETERY
and bird baths. Call 7864.
0
WUERTH
EFFECTIVE TODAY
Our NEW
SUMMER POLICY
Selected Hits of the Season
at Popular Pices
Matinees Evenings
l0c-20c l~c=25c
URNS,
717
EXPERIENCED C O U P L E -Cook
and Porter. Good references.
Reasonable salary. Phone 3235.
714
Florida
WANTED
--Two pissengers. Trip to
. or pnint along line.
About June 10th..
Phone 8970.
702
FOR RENT
It's not expensive-
cheaper than living at
bome-3 /2 weeks of
If " RE-NT---Furnished apartment
and extra room if desired for
four adults. Private bath and
shower; c(ntinuous hot water;
cross ventilation; also apartment
for two; everything furnished.1
Garage. Dial 8544. 422 F. Wash-
ington. 648c
HOUSE FOR RENT--Furnished or
unfurnished. 1324' Olivia. Avail-
able June 1. 614c
ROOMS for summer session, $2.50
per week. Alpha Chi Rho fra-
ternity. Call Bevis 1017 Oakland.
Phone 21118. 711
FOR RENT- -Four large nicely fur-
nished rooms for light house-
keeping Private bath. Every-
thing furnished. Phone 2-2829.
708
TYeING--Grad. theses a
M. V. Ilartsuff. 9087.
specialty.
European and
travel for only
' $150
hELP -White porter and cook "for
fra eruity. Preferably man and
wife. References necessary. Be-,
gi work in September. Tele-
phone 23189 and ask for house
presidlent. 709
ocean
526e
FOR SALE
EXCELLENT--Wardrobe trunk, like
new, very reasonable. Call Simon,
21864. 715
FOR SALE-Four passenger Mar-
mon coupe, excellent condition.
Recommended for transportation
home. R. R. Solar, 901 Granger
Ave. Phone 4080. 713
OVERLAND 6 COACH--32 plates.
A-1 condition. Just overhauled
New rings, timing gears, valves
ground, only $38 50. Call Eldred
21717, 406 E. Maaison. 716
Trip includes steamship fare,
hotels, icals, tips, taxes,'and
baggage.
For particulars call 3582
MOVING
STORING
PACKING
Phone 6921
TUESDAY AND WEDNESDAY
Gaynor and Farrell
in "MERELY MARY ANN"
1
314 S. State St., Ann:Arbor.
..-. ...
- I
"
I
,e
;. . -
r . , ,
b
H. B. GODFREY
I
410 N. 4th Ave.
F '
11
Goming A ttractions
With this concluding issue of the Michigan Daily the Theatxes here
submit for the readers of the paper their attractions for the coming two
weeks.
SPECIAL
ERMANENTS
gular six dollar Oil
Permanent.
$3.00 complete.
poo and Marcel-. $1.00
poo and Finger Wave..75c
:ure .................5Qc
All work guaranteed.
Uw
* RIDES
U $1.50 and $2.50,
LESSONS
$5.00
'I LANSPORTATION
* FURNISHUD FREE
S JUST CALL TlE
. .
U
I
Select Your
oficial Michigan Ring before you leave,
make a small deposit and we will mail
it to your home address when you want
it.
25c UNTIL 2 P. M.
25c UNTIL 2 P. M.
'A
PLACE YOUR ORDER NOW
evenings
Phone 22813
Arcade Jewelry Shop
ollege Beauty
Sop e
300 South State Street
11
i
ANN ARBOR AIRPORT
(Flo Flying Service)
I
NICKELS ARCADE
CARL F. BAY
1!... ______________________________________________________________________
Today Through Wednesday
Brown
"THE TENDERFOOT"
The laugh hit froam the John
Goldfn riot.
"UNI ON DEPOT"
S Y EJUN19
"SOC-ITY GIRL"
Spenser tacya Blue Book blues
away.
--Follcwed by--
GRE TA GARBO in
"AS YOU DESIRE ME"
-Then-
RUTIH CHATTERTON
in "The Rich Are Always With Us"
s
'ndw . G.
/ I
I i
TA.ESTIC
Today Thru Tuesday
I
EXT
PEALI,
Robins.on
INI
"TWO SECONDS"
The lit Star in His Greatest Role!
WEDNESDAY, JUNE 8
Barbara Stanwych
Edna Ferber's Story
"SO BIG"
- -COMING SOON
e StIll JJae * wI4e selectio" of "Shorts" in
its anti. Ti doai the Vniversity Model.
FORMERLY $22.50, NOW
$ 5.
I
Ramon Novaro Hupole"
Warren William
"THE MOUTH PIECE"
ELANNEL PANTS
ALL SIZES
UAT I Nq
I
$fi
$00
e.
I
I v Ld v