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February 28, 1932 - Image 2

Resource type:
Text
Publication:
The Michigan Daily, 1932-02-28

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E TWO

THE MICHIGAN DAILY

SUNDAY, FEBRUARY 28, 1932

LEASUE AND CHINA
UNDER DUNK'S TOPIC
Will Give Movies of Work Done
Before in Lecture Here
Monday Afternoon.
"Shanghai-ing the League of Na-
tions" is the subject of a lecture to
be given by Dr. Francis S. Onder-
donk, of the college of Architecture,
at 4:15 Monday in Natural Science
auditorium. Prof. E. R. Sunderland,
of the Law School, will act as chair-
man of the meeting.
The lecture will be accompanied
by several reels of motion pictures
depicting work that has been done
during the last decade throughout
the world by the League of Nations,
the growth of the peace movement,
and the origins of the Kellogg
Peace Pact.
Sher M. Quraishi, '32, campus
leader in socialist movements, will
also give a short talk on what he
considers to be significant in the
present Sino-Japanese difficulties.
Dr. Onderdonk has stated that he
intends to set forth ih his lecture
his analysis of the apparent fail-
ure of the League of Nations to
function during t h e last few
months, showing that such failure
has had as its largest reason the
difference of the United States.
Let Contract for New
$85,0O Parish Hall
Contracts for the construction of
a new $85,000 parish hall to adjoin
the north side of the Bethlehem E-
vangelical church have been let,
and the present parish house north
of the' church on Fourth avenue
will be torn down within the next
few weeks in preparation for the
new structure, Rev. Theodore R.
Schmale, pastor of the church, said
yesterday. The new building will
be completed by next fall.

i

WIDESPREAD BANK FAILURES CAUSE I
LQSS OF CONFIDENCE, RODKEY SAYSI
One-Fifth of Independent Units ing loans which has put many mer-

As the first event in honor of the

H ave , Closed Doors in Last
11 Years, He Says.
More than 21 per cent of the 30,-
000 independent unit banks in this
country in 1921 have failed during
the last 11 years, according to fig-
ures given by Robert G. Rodkey,
professor of banking and invest-
ments, who discussed "The Banking
Phase of The Depression" at 8 o'-
clock last night over the University
broadcasting station. In 1930-31
along 3,600 banks were forced to
close tehir doors, he said.
This was the fourth of a series of
talks on present business conditions
sponsored by tIle University. The
series has proved to be a decided
success with tie radio audience, as
many letters are received every day
commending the work being done.
More than 3,000 copies of each talk
are sent out weekly to listeners who
have requested them.
The large number of bank fail-
ures has undermined the confidence
in stronger ones to such a degree
that hoarding alas become wide-
spread, said Professor Rodkey.
Cash Is Sought.
"With confidence at a low ebb
and with a spirit of intense pessi-
mism pervading the national psy-
chology, each remaining bank has
felt it necessary to turn earning as-
sets into cash or its equivalent to a
degree never before known. Only
cash or its equivalent meets the
needs of depositors."
The banks have been forced, un-
der such conditions, said Professor
Rodkey, to adopt a most conserva-
tive loan policy. "Thousands of ap-
plications for loins are being re-
fused every day which, under nor-
mal conditions, banks would have
been willing to grant."
Due to unemployment conditions,
deposits in savings accounts have
been withdrawn at a time when the
banks are in need of cash, he said.
In order to meet their obligations,
the banks have had to force the
payment of some of their outstand-

chants out of business.
"The federal government has
taken the initiative in attempting

to provide means whereby banks centenary of the death of Goethe,a
whose asests are sound but frozen the German department. will pre-
may be able to borrow on the se- sent Max Montor -in a reading at
4:15 iarc.h 0 qt the . dtia Men1ls-

I curity of these very assets," Profes-
sor Rodkey continued.
The purpose of the Reconstruc-
tion Finance corporation is to put
an end to excessive mortality a-
mong banks, and to restore the con-
fidence of the bankers themselves.
This will be accomplished by pro-
viding an agency standing ready to
make advances to banks upon
sound but frozen assets. When
bankers know that there is a large
reservoir upon which they can
draw, they will feel safe in granting
loans to all - worthy borrowers, he
said.
Large branch banks have stood
up better during the depression
than the smaller ones, Professor
Rodkey said. Under governmental
centrol, extension of both branch
and group systems would help ma-
terially to- place banking on a
sounder and more scientific basis.

I .10 lull lulU3au VLII lt, y . UJJ ..s1a l
I sohn theatre.
Montor's reading will consist of a
free recitation of Faust in a new
version of his own. The first por-
tion will contain the Prologue in
Heaven, the first monologues, and
the pact with Mephisto.
The rest will Oe made up of
scenes from the second part and es-
pecially the whole last act with
Faust's death.
Montor is known as a dramatic
interpreter of renowned ability. He
is at home on both continents and
his interpretations have been ac-
claimed in both Germany and
France.
He is possibly remembered best in
this country for the part he played
in Elmer Rice's Pulitzer Prize play
"Street Scene."

Robber Was Enrolled
in School Only 2 Days
Records in the office of Registrar
Ira M. Smith indicate that Robert
McCardle, arrested Thursday for a
garage robbery in Northville, and
claiming to be a student of the
University, had a short-lived career
as a student here. McCardle regis-
tered on February 15, but withdrew
from the University on February
17, two days later.
Negro Found Injured
Outside of Ann Arbor
Cecil Draper, Chelsea, night
watchman at the University, yes-
terday picked up George W. Lucas,
colored, of Ann Arbor, at the inter-
section of U.S. 12 and Dexter road
where Lucas had injured himself
and wrecked his Hudson sedan by
driving off a culvert.
If you write, we bave it.
Correspondence Stationery,
Fountain Pens, Ink, etc.
Typewriters all mks.
Greeting Cards for evebody.
0. Do MOR R IL
S. State St., Ann. Arbor.

CLE

MASTE

SPECIAL

FEBRUARY

29

TO

L

Today 1:30 to Ht
An Outcast For
Loving Too Well!

-.M ichigan .
H4ER GREATEST LOVE STORY:

MARCH.

5

All Work Guaranteed

Cleaned in natural
storing solvent and

animal oil re-
form pressed.

TilS flTHItS
SOLIl S 1ICOLUMN
CLOSES U
AT3 P.M. ADVERTISING AT 3 P.Mt

NOTICE
TYPEWRITERS, all makes, bought,
sold, rented, exchanged, repaired.
0. D. MORRILL, 314 So. State.
307c
T Y P E W R I T I NG AND MIMEO-
GRAPHINOpromptly and neatly
done. 0. D. MORRILL, 314 So.
State St: 308c
EXPERIENCED porter wants work
in fraternity house. Can furnish
eight year's fraternity reference.
Phone 587. 490
RESTAURANTS
EAT-Meal tickets $5.50 for $4.50
Special Steak and Chop Dinner 40c.
Forest Inn 538 Forest Ave.
409c
WANTED
STUDENT LAUNDRY WANTED-
Called for and delivered. Phone
4863. 150c

W A N T E D-Position as cook in
fraternity house. 26 years ex-
perience. Call 3067. 501
FOR RENT
F OR RENT-Large comfortable
suite, pleasant location. Piano
available. Reasonable. Phone
7382. 1008 Michigan Ave. 498
FOR SALE
REPOSSESSED CARS-Buy from
Finance Company for balance
due. We sell all makes of new
cars at a discount. Investigate.
311 W. Huron. Phone 22001. 235c
PERSIAN Oriental Rug, about 8x11,
reasonable. 1324 Olivia. 490c
PEBBLES
Phone 7112, Killins Gravel Co.
295c
LOST
LOST-Either in League or library,
turquoise ring. Reward. C a11
4546. 502,

Does mother know best, when it
cames to the sweetheart problem?
Or is the heart of a maid, the head
of a man, the better romantic ba-
rometer?
See this drama-
9ramount 9/cture
withy
Nancy
CARROLL
Richard
A LEN
Paujline
FREDERICK
EXTRA,
Our Gang "Free Eats"
HEARST EWS
-WEDNESDAY-
"STEPPING
SIST ERS"

c

Drama That Keep s lts
Wh /~ PacetotheFinish!
BENNET STORY!..BENNETT
GENIUS!..BENNETT GOWN$!

This price is for
and Cash

Cash on Delivery
and Carry.

,., _ t. ..

I

.Machine.

ironed

blocked. The same n
ployed by hat mar

and factory
method as em-
n ufacturers.

;.:; a
- ------

-Monday Owl show-
WilliamiHaines-Schnozzle
jDurante in I
"' u "Get Rich Quick Wallingford"

Any Felt

University of Michigan

Oratorical Association

DE KOVEN'S

R
I

Ma arcla,12

Fifth Lecture

This price is for Cash on Delivery
and Cash and Carry.

Right Honorable

HiYI

Winston Churchill

All

dresses are cleaned in sheen
restoring solvent.
All minor repairs made.

Auditorium

I

Speakiing on one of his popular topics for
which he is so well qualified.

I

,e SA"Ook es

THE

HILARIOUS

GAIETY

Tuesday

I

One Piece Plain

8p.m.

I

H
O

WOODLAND

Hill Auditorium

CHARM

Formals and Velvets Slightly Higher
This price is for Cash on Delivery
and Cash and Carry.

AND

OF

SHERWOOD

FOREST

Nowhere else has it been possible to hear this bril-
liant orator for' such an admission price.

*

rI

p

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