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 J"t:....,.....1 L.... M. -- m