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March 10, 1933 - Image 1

Resource type:
Text
Publication:
The Michigan Daily, 1933-03-10

Disclaimer: Computer generated plain text may have errors. Read more about this.

ier

Generally fair Friday and
Saturday; rise in temperature
Saturday.

000

-4
AaV AP
d& Aw
fiat at t

A,
A AL AM AMP
low
t

Editoria
Public Works And
get; Hell Week Is
Wane.

The Bud-
On The

VOL. XIAI1 No. 115

ANN ARBOR, MICHIGAN, FRIDAY, MARCH 10, 1933

PRICE FIVE CENTS

. .

U. S.Officials.
Ask Names Of
Gold Hoarders
Action Which Government
Will Take On Holders
Of M1etal Is Unknown
Continue Present
5 Per Cent Plan
Ann Arbor Merchants May
Adopt 'Trade Dollar' To
Speed Up Business
Banking officials in Ann Arbor
have been asked to turn over to Fed-
'ral authorities a list of those people
who have withdrawn gold from the
city's banks during the last two
years, C. J. Walz, president of the
Ann Arbor Clearing House Associa-
tion, said last night. The order came
from Federal Reserve officers yester-
day afternoon.
Mr. Wall said that he did not be-
lieve many people in Ann Arbor had
withdrawn gold during this period,
but it was likely, he added, that the,
government would make some at-
tempt to get in contact with those,
who had.
I7t appears that the government
wants to s e who is hoarding money,"
said Mr. Walz. "What will be done'
with ther epeople we do not know."
Waiting Federal Action
In the ieantime, while they are
awaiting action cither fom President
Franklin D. Roosevelt or the state
banking comissioner, the city'sI
banks will continue on their prs-
cut policy, allowing a five per cent
withdrawal of funds and the cashing
of checks drawn on "trust fund" ai.
counts, he said.

Cuncannon Foresees War Debts
Reduced And Tariffs Slashed

City To Asi
R., F Co Lot

k Woodin Announces Plan To
00Open Sound Banks Soon;

Jy C. HART SCHAAF !States will join the League of Nations t -
Confident predictions that the war during the next four or eight years
debts will be greatly reduced "before is small, Professor Cuncannon be-
the cherry trees are blooming in lieves, although he said that the__
Washington," that the United States President distinctly entertains League -
tariff is about to be slashed, and that sympathies. f Will Use Money To
this country will shortly join the The chief reason for believing that strluct Sewer Plant;
World Court were voiced yesterday Congress will be behind Roosevelt, Help Welfare
bcy Prof. Paul V. Cunicanno n of the Professor Cuncannon stated, was the :4ftrE
political science department in the Cnt ae by Dcas i - ru,
student forum in aumni Memorial both the House and the Senate to a Not iave lo
HaIll consider in caucus every proposal "
Speakin on ."Problems of the which the President may make, and'Pay Back Mt
Roosevelt Administration," Professor to vote as a unit according to deci-
Cuncannon also expressed the belief s 1 reached by the majorities at
that this country is about to enter a these meetings. c W
The Democrats in the Senate, it ai(leq aLeUnless
ing control. He also discussed prob-t was said, reached this agreement by I Pse I pi
lems of the budget, prohibition, the IwysPrssddiIrmntyril
League of Nations, recognition of a vote of 50-3--an action without
precedent in American history. --
Russia, the Far East, farming, trans- The Common Council, meetir
portation, and social reform. The lecturer also pointed out that night in City Hall, called as
The beer bill to be considered by Roosevelt has declared he will dis- election for April 3 in ordert
Congress was termed "unconstitu-- tribute no patronage through any cide whether or not the city o
tional on its face, if the English Representative or Senator who op- 1Arbor should make application
language means anything," and cer- poses his proposals. Since there are r. .C. for m$iw,"ouenthsnw
tamn, if passed, "to cause more trouble 130,000 Federal appointive positionsR F Ch fonrin $50,0 t be, uh
to complete and sane solution of this it was said, the President's power ing employment to the city's w
problem than anything that has been over the Congress from this fact dependents.
proposed." Professor Cuncannon said alone is tremendous.
that "viewed from whatever angle Roosevelt's power in Congress, his The money would be bor
you please, this bill is insidious and training as chief executive of the from the R. F. C.'s road fund
sinister.",the most populous state in the union, w .ent, and, according to Ald
The farm situation was called the and his natural bent for politics and W. H. Faust of the finance co
most subtle problem facing the new 'zest in the game" were cited by Pro- tec, "it is more than probable
administration, but one demanding fessor Cuncannon as reasons for real it will not be necessary to
solution. optimism concerning the success of bac."
The probability that the United the new administration. =Estimations which placed th

Con-
Will

Issue De-troit Scrip

Mon day

BULLETIN

May Fill Vacancy

neyl

I

Bet
Bill

ng last
special
to de-'
of Ann
to the
sed in
us giv-
&elfare

DETROIT, March 10.--VI'-
Robert O. Lord, president of the
Detroit Clearing House Asso:i.-
tion tonight announced that the
association would proceed with
plans to issue scrip with the
definite intention of releasing
$26,000,000 worth on Monday of
next week.
The association committed it-
self definitely on the plan fol-
lowing receipt of a telegram to
W. R. Capon, general manager
of the Detroit branch of the
Federal Reserve Bank of Chicago
from E. M. McClelland, secretary
of the Federal Reserve oard
authorizing the step.

rrowed
rman President
ierman
)mmit- -
e that Hasten U
Pay it
Q41I7C1 1

Will

jptuI"1,

e cost

No Word From
M Aichigan Men
At Washington
Frauwrs Of Federal Ba Tk
Guaran P roposal T o
Seek Passage Of Plait

Last Of Oratorical

Series
n uIn

Deals W i
cal rogress

i
EI
1
G
1

of erecting a sewer public station
along the Huron River and a sewage
disposal plant wcc madc by the cyit
cngineer's office. It is believed that
$220,000 will be expended for ma-
terials and $330,000 for labor.
If the resolution is not approved
by the people. it was said at the
mcetingr, it will be impossible for the
city to cre for its welfare depen-

Governor, Coni uhissiolier
Of Banks Predict Early
Recovery For Michigan
LANSING, March 9.-.P)-Presi-
dent Roosevelt's financial recon-
struction program and accompany-

-Assola~od Press Photo
G iibrt .M, Hitchcock of Omaha,
former semiator from Nelraska, was
I1niderstood in Washington to be the
Rouscvclt choice for a place on th
federal reserve board, to fill a va-
cancy.
'S.e.hs . P k

Treasury Department Is
Securing Information On
Cond iion f Finances
To Publish Rules
Of Opening At Once
Legislation Will Supply
Banks With Funds To
Meet Emnergency
WASHINGTON, March 10.-(I)--
Secretary of the Treasury William 1.
Woodin in a statement early 'today
said it would be the policy of the
treasury to open sound banks of the
country as rapidly as possible, and
invited them to make application
for reopening.
The, secretary said the treasury al-
ready has taken steps to secure in-
formation as to the condition of the
various banks. of the country, but
that it was found that completion of
assembling the information and of
arrangement for the banks to re-
sume their functions would take some
time. It was therfore decided, he
said, not to authorize any reopenings
before Saturday, March 11.
He said regulations governing re-
opening and other subjects govern-
ed by the emergency banking legis-
lation would be published immediat;i-
ly.
Woodhin Statement
The statement of the secretary, is-
sued early this morning said:
"The emergency ianking legislation
passed by the congress Thursday is
a most constructive step toward the
solution of the financial and banking
difficulties which have confronted
the c o u n t r y. The extraordinary
rapidity with which this legislation
was enacted by the Congress harkens
and encourages the country,
"This legislation makes possible the
opening of banks upon a sound basis,
but by an adequate supply of cur-
rency. Though this law, the banks
which will open will be placed in a
position to meet all demands. This
assurance should restore confidence
and create the foundation for a for-
ward movement in business activities.
"It will bec the policy of the treas-
ury to permit as rapidly as possible
the opening of sound banks. There
are, of course, many thousands of

I

Busine1s in the city continue, ac.- .----- I
cording to merchants, at about 40 No word had been received from
per cent below normal, and the the three University economists in
Chamber of Commerce, is discussing Washington last night, while devel-
the possibilities of introducing a s
"trade dollar" infto the city's cur- opments in the capital eliminated the3
rency circulation. probability of passage of a deposit
The "trade dollar." as it is nuw guarainty envasute.
planned, would be backed by the 'The men-Professors I. L. Sharf-
nerchants, who would guarantee to I man and L,. L. Watkins of the eco-
redeem them at maturity. The dol- nomics department and R. G. Rod-,
lars would be issued by the Chain-
bcr of Commerce in an amount not key of the business administration
to exceed $10,000. school, three of the five framers of a
Each individual merchant would proposal for 100 per cent guaranty)
rit~ri n,,ocr ^1 ^"flrn " ~vI i tn nI ~vict* cn mrr~o

Random shots of the life histories
of various of the larger animals vcrv
fused together into a biographical
Whole last night when Dr. Raymond
L. Ditmars, Curator of Reptiles and
Mammals in the New York Zoologi-
cal Park, presented an illustri.ited
lecture which ended the 1932-33 Oa-
torical Association Series.
A feature of the lecture was the
reel which treated of the differences
3between "horns" and "antlers" on
the even -toed hoofed mammals, and
psreseptod the complete cylo- of de-
velopment of a pafri of intlers i6a.
repre entative sipecics of dicer.
Dr. Dit ars opened his lct ure with'
motion pictures of the four great
anthropoids - gorillas, chimpaiees,
'orang-utaiis. and gibbons. The New
York Zoological Park, he said, is
now in possession of the first gorilla

I

dcts ing congressional action wi1l hasten
Mayor Newkirk addressed the the recovery of Michigan banks, Gov.
meeting, saying that a member of William A. Comstock and R. E. Eel-
the University faculty had complain-kn
ed to him against the lav insisting ' chrt, sate bankin o i n
that ears parked along East Univer- predicted tonight
sity .Aveune, as well as other parts While full details of the :Iational
of the city, keep their headlights on. policy had not been transmitted to
"Many members of the faculty,." the state officials. plans for rc-open-
the mayor said, "work in the Uni- i
versity buildings at night, parking ig of sound banks and for the r'e-
ther egs or the wi( [.lsid^.of E)a"st lease of additioial currency met with
University Avenue. If we insist that their approval. It .was believed state1
they kecp their 1ights on it means 'banks largely would follow the lead!
an additional and unnecessary ex- set by national banks.t
pense to them. I think it would be Under Governor Comstock's proc-
a mighty nice thing to exempt them1 lamation Michigan bnks are in a
from this recstriction."laainMcgabn saena
The matter t.s referred to the position to take full advantage ofl
Traffic cmittee by the c any national modification of theI
Traffic committee by the Council. closing order. The governor , aid lie '
Possibilities in lifting some of the t lsn re.Tegvro adh
zoningest iti onswerenlso dis- believed every bank should do its
cussed, The city engineer reported utmost to relieve the situation. They#
may permit withdrawals up to thex
that many business men feared they limit of their cash or quickly convert-c
w ld 111 fn lP d t f. b iial r n - ---.. _

Pl1atform F or
Local Eleetioii.
Nomiees Spe-ak At Stud.
Oi1,Diliner; Favor City
]Mlk P P n iiManager
P ging itsolf to 'upport a dfinite
program that'includes the-'establish-
ment of a public-owned milk plant,
?he construction of a sewage disposal
plant, rcduction of public utility
rates, adoption of the city manager
plan of city administration, and other
proposa1, thl e Socialist party of Ann
Arbor opened its first campaign forl
the spring elections last night be-
fore a crowd of students, faculty
members, and townspeople at a send-
oif supper in the Co-operative Board-
inc T wtz i thn ncvoi fT m

rive away one trade dollar" asa i bank deposits as an emergency which l ias been able to thrive in!
20 per cent premium on the purchase measure-arrived in Washington on captivity; when first imported its
of goods. If a person bought $5 worth Wednesday to confer wvitlh govern- weighed but 20 pounds; now, three
of groceries at one of the State n years later, it tips the scales at 95
Street stores, for instance, he wouldmk pounds.
be given a "trade dollar." He could their plan. Careful regulation of heating con-
then spend this "trade dollar," which Dean C. E. Griffin, of the business ditions, employed earlier on gorilla
would be worth exactly $1 in regular administration school, a signer of the specimens which failed to live under
currency in any other Ann Arbor guaranty proposal, indicated yester- this captive environment for more
tore,. day that there was a. probability of than a few months, have been aban-
'Trade Dollar' Planned the men returning to Ann Arbor doned in favor of allowing the pres-
Before it could be used to purchase within the next two or three days. ent specimen to go out of doors at
goods, however, a two cent stamp "I don't know definitely when they will, even in the winter months, Dr
would have to be put on it. The will be here," he said, "but it is pos- Ditmars said. This indicates, he
stamps would be for sale in all stores. sible they may have returned by the stated, that these animals really are
The "trade dollar," furthermore, day after tomorrow, or shortly there- adaptible to a northern climate.
would have to be used inside of three after." The dean had received no
days, thus necessitating its changing word from the economists, he said. Plans F
hands twice a week. Conjecture regarding the details "Ps
On each trade dollar there would be activities of tie three professors re-
space for 52 stamps. Thus at the mnained uncnlightened last night by Secon
ecd of six months there would be official comment. It was unofficially
$1.04 in stamps on each "trade dol- supposed that the economists were ina wiParl y1
lar." At that timc the money would conference with mcmbei's of the ~ ' '~ L~JXy
be refunded to the merchants. Michigan legislators, and possibly
Backers of the plan claim that it with the secretary of the treasury, r Open March 31 Ib-'
lstimulate trade; first, because in an attmpt to have their measure
people would want to buy goods in or some other form of deposit guar- ject Will Be 'Am I Get-
order to get a free" dollar; and see- anty passed by Congress. Such guar- 1 A Education?'
ond, because it would have to be cx- antee was called "the old remedy" [
haniged twice a week, thus increas-for the crisis in the proposal which l
ng he turnove ofgoods rs-was sei to Washington and broad-Pa fr t so aul i
A' ' i'turthe Chamber :of omectb roeso hafalFb.2.parley-"Am I Getting an Educa-
AtThe decision of the PresidCentmandtion?" which opens March 31 were
mee't~ing las nig ;ht the phin was Cothformulated last night at a meetingI
reeted favorably, butingtt t was o-of representatives of various campus
cIded ftoray it backit whespecial situation y expansion of the cur- organizations,
comitt for study util the ciank- reny was iterpreted by many today The spring parley provides an op-
ing situation was clarified. as arking th complete doom of de- portunity for :zudents to ask profes-'
pio t su r ya n mr ysors questions and discuss subjects
rarely brought up in the class rooms,
T eOmple Ilaids ver IIiS - according to Jule Ayers, '33, chair-
Megaphonew Te CRoI)rts Lilwqur VCj1(Ier At High man of the excutive coumittee.
With this end ii i iew, speeches at
The silver megauhone, symbolic of Scool To0 BeDeported the parley will be limited to three
the head cheerleader position, was J3 minutes duration.
passed to Thomas Roberts, '34, byr ondaynon a argof - Prof. John L. Birumm of the jour'-
William Temple, '3., after the cc- iutotoay night on a charge of nalismn department, chairman of the
tion held yesterdlay afternoon. deit was tk to cusoy yester- panel last yur., was nominated for
den'iit5, w taken into custody yesrer- the ollice again at the recommend a-
In explaining the reason for not (y by Federal ollicials who will de- tion of the continuance committee.
announcng the election at the last port him to England. Judge George( The panel, which includes both pro-
basketball game, Temple said that Sample suspended sentence of two to fessors and students, will number
oiside rable discussion was aroused four years in Jackson prisoin imposed about IS this year, it was annouc"d.
by the method of election and it was upon Richardson Tuesday, Meetings arc planned for the ; il'-
finally postponed until yesterday. Richardson, who is married aid noon and ccnin of March 31, April
the father of three children, was apI- I ll the afternoon, and April 2 in
pr"hnded "en deputies- from the the morning. The List meeting will
9'rank Lloyd W NNr i seifsoit copnidahtI
_ bsheriff's ofic' accompanied a high be preceded by a breakfast. A sup- ;'
WillG school student who bought a qu"- per na be held between te two1
Will (,ive Address 5 i tity of liquor from him. The original meetings Friday if uresent 1laiis o .

'W oU c[ U z ┬▒VcIc OL UU uJ1 1e8 - " ible assets for necessities. Under the 1z''; A ac. Is'. lein U) Lane such banks which will promptly be
less the restrictionagainstbusinessPreHide n'sme,
enterprises in residential sections of bea lln wed.m rof. Roy W. Sellars of the philos- restored to their normal functions."
the city was lifted somewhat. The balwe'ophy department and candidate forI
matter was referred to the Ordinance Mr. Reichert was of the opinion a alderman from the seventh ward on WASINGTON, March 0.--()-By
Committee change in the banking situation in the Socialist ticket, spoke ii favor of proclamation, President Roosevelt to-
Michigan will come after emergency the adoption of the city manager night extended the modified general
measures have been enacted by the plan to further "economy and effi- banking holiday indefinitely.
Health ServiceW lans legislature. It is expected a bill giving cienry in local government." He also Exercising the powers conferred
glthe governor and the commis ioner 1i)props'ed a lplanning commission to upon him by Congress in emergency
AgaintS ore Thot sldictatorial powers will be passed determine future real estate develop- banking legislation which he had
Any students suffering from Saturday. Under it they would have ment and to prepare a "co-ordinated signed scarcely an hour earlier, the
sore throats were advised last the authority to enforce, in Mich- plan for replacement of obsolete chief executive also proclaimed an
night to report to the Health Serv- iran, any order issued by the Presi- buildin, and public works." extension of thc embargo on gold.
ice immediately for examination dent. Charles A, Orr, Grad., assistant in All the provisions of the proclaima-
for possible scarlet fever infection. "I do not know, now, how far the the economics department and can- tion issued Sunday night were cof%
Several cases of scarlet fever federal government plans to go," didate for alderman from the sixth tinued in full force and effect. This
have been detected during the past Reichert said. "However, I believe ward,- explained the planks for re- meant also a renewal of the ban on
few days, Dr. Warren E. Forsythe, conditions will improve in Michigan duction of electric, gas, and telephone .hoarding.
director of the Health Service, de- : under the influence of the federal rates for household consumers .and Tonight's proclamation is to re-
clared. 'While the situation is program and the enactment of state the establishment of a publicly owned main cffective until ended by another
not yet serious, it is advisable to emergency measures. We need the corporation for the preparation and proclamation.
take all necessary precautions," he state law, and we need the relaas: distribution of milk on a non-profit Emergency Still Exists
added. of reserves to hasten the easing of basis. Ie cited the case of Ypsilanti's "The national emergency still ex
restrictions" municipally owned gas plant as a',
Sway to lower rates. fists," read tonight's decree, "and it,
Neil aeblr, candidate for alder- is necessary to take further measures
.I. P. Marley, candidate fo' alder-
zmfrom the fourth ward and E. E. by the original proclamation of Sun-
Peo Die Is '[lhe Aim Ut 'Hay Fever' Liiton, candidate from the second day."
A ward, also spoke on plans for relief The President said "All the terms
of the unemployed, advocation of a and visions of the March 6 proclama-
"Poking full at conventionally dull, week-end and is said to have written water soltening plant, and political tion and all regulations issued there
but good, people-a characteristic of 1the play in one sitting. recognition of workers in proportion under continue in full force and ef-
the modern age-- is one of the salient I "Noel Coward's chief appeal is that to their numbers. feet."
oi)tS Of Noel Coward's himnor s lie is so decidedly of the age-iump to The local Socialist party is run- The banking holiday declared by
exemplified in 'Hay wcver,' " Valem- the very minute. le has the power' nine only candidates for alderman Mr. Roosevelt on Sunday night would
tine 3. Windt, director of Play Pro- of witty dialogue and is capable of from six wards. , have ended at midnight tonight.
aA%<UlJAI, j(AA 91 v4.~ertaking the most sentimcntal scenes i--Ie signed the new proclamation at

a
1
3
,
1
G

T

lay er"willb amnd resnting them in a to tally un tib Rcf'r'e I
S ayv ( r" will be presented by sentimental manner, thereby keepingC
Play Production March 14, 16, 17, theatrical values of the past and pr(- Attlrney After Lo
and 18 at the Laboratory Theatre. seiting them in the dress of the pres-
The box ofice sale for the play will et. S.Wilson.
opeU today and will be open from "Being first an actor, Noel Coward through Ann Arbor quite
10 a. 1.8pn. daily until th is especially clever in writing di ago and had his tire pu
run of the play is over. logue, that is, speakable and actable all obstruction on a city s
"Noel Coward's plays give a singu- drama," he continued. "1-Ic has an t'yiing to collect money
h 1y ine portrait of what the pr s- umcanny awareness of what is ele".. 'from 1h city tathtr's.
CIOt ;iraiO is like--or rathem' live on lime stag" afh what m Ii a lete" to tle Com
would lik to be like, smart chit-chat.| helpful to tihe actor. Ie plays a great last iight he said he hi
the desire to repress emotions and ideal of the humior which spring the matter to the police
undianen tally just as emotional as from parallel situaions as he did i which bad referred him
ever," Mr. Windt said. "His dialogue 'Private Lives,' which was pi'oduced -;attorney, but le had
is sh1o"t, witty a " full, of "clever iherd two years ago." atisftion.e" " ad th
twists 51nd1 Sul .l1'ral-1, '. Amniong [lie most successful i Noel :11 thiOr department, wh

o City
ng Hunt
who drove
some time
unctured by,
tr'eet, it still
for repairs
1on Council
ad reported
department
to the city
rcceived no
en one to
ich had re-

10:10 p. m. after a conference with
Secretary Woodimi and Attorney Cum-
mings. It is undem'stood the purpose
is to give the secretary of the treas-
ury further time in which to admin-
ister the emergency banking law en-
acted today by Congress which would
have permitted immediate reopening
of sound banks.
tOt)SEVELT SIGNS BANK BILL
WASIIING1TON, March P.-()-
Presidemit Franklin D. Roosevelt,
'eping pace with a Congress swiftly
enacting his commands, tonight sign-
ed the gigantic cmergency banking
bill and prepared immediately to use

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