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February 28, 1933 - Image 1

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Publication:
The Michigan Daily, 1933-02-28

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rain; warmer cast

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Editorials

Semester Plan Of
S.C. A. Married Life C

I

VOL. XLIII No. 106
Ohio, Indiana
Banks Adopt

ANN ARBOR, MICHIGAN, TUESDAY, FEB. 2, 1933

PRICE

V

Restrictions

Maryland Maintains Bank
Holiday; Comstock Begs
Washington For Aid
Two New Detroit
Banks Organized
$8,250,000 Capital Is
p rovided By Henry And
Edsel Ford
(By The Associated Press)
Banks in two states clamped re-
strictions on withdrawals Monday as
in a third, Michigan, one of the na-
tion's wealthiest men threw the
weight of his millions into the situa-
tion.
The Michigan financier was Henry
Ford, and his action formed the nu-
cleus of two new banks in Detroit.
Ford and his son, Edsel, announced
they would provide capital of $8,250,-
000 to open the banks Wednesday.
The banks will be constructed on
the assets of the First National Bank
and the Guardian National Bank,
with depositors given the right to
withdraw immediately up to 35 per
cent of their deposits. Officials of
the banks have obtained $78,000,000
from the Reconstruction Finance
Corp. to be used in forming the new
institutions.
Will Name Personnel k
The Fords reserved the right to
name the official personnel of the
new banks, and said they would be
"the type of financial structure that
will merit public faith and enable
the city of industrial Detroit to re-
habilitate itself." h
Regarding the :35 per cent with-
drawal privileges, President John C.
Hicks of the Michigan State Bankers
Association, said Michigan banks out-
side of Detroit would continue efforts
to obtalin release of 100 per cent of
the reserves they have on deposit in
Detroit bankS
Ohio Baks Restricted
Twenty Ohio banks--18 of them in
Cleveland, Akron, Dayton and Young-
stown-placed restrictions at their
opening Monday on withdrawals of
deposits while awaiting emergency
banking legislation promised by the
governor. The number of banks tak-
ing such action increased during the
day. They limited withdrawals to
from one to five per cent.
National and state banks in son
Indiana cities also imposed five per
cent restrictions on withdrawals. In-
dianapolis banks announced such ac-
tion.
As Maryland continued on a three-
day banking holiday, Gov. Albert C.
Ritchie called in a group of "repre-
sentative citizens" to confer on bank
legislation. The governor's conferees
were described by him as "those who
are not bankers and who reflect the
views of the general depositing pub-
lic."
Governor Asks Federal
Aid In Banking Situation
LANSING, Feb. 27.-(P)--The state
today turned to Washington in an
effort to ease the Michigan banking
tension.
Contending the return of Michigan
banks to normalcy is dependent upon!
the release of reserves, Governor
Comstock urgently requested federal
authorities to require national banks
in this state to allow reserve with-
drawals.
The governor was in telephonic
communication during the day with
F. G. Awalt, acting comptroller of the
currency; Roy D. Chapin, secretary
of commerce, and Senators James
Couzens and Arthur Ii. Vandenberg.
To each he made the same plea.
lASKETBALL RESULTS

Illinois 27, Iowa 30.
Ohio State 29, Purdue 17.
Northwestern 45, Indiana 32.
S. C. A. Tryouts Meet
Officers In Lane Hal
Tryouts for the Student Chris-
tian Association will meet between
3 and 5:30 p. in. today and tomor-
row at Lane Hall, according to
Jule Ayers, '33, president of the
organization. He stated that fresh-
men interested in this type of
work ought to begin at once.
Among the various projects car-

German Reichstag Hall Partly
40YC
Destroyed By Comiminunist Fire
BERLIN, Feb. 27.-(11}-)1The His- age had already amounted to several
toric Reichstag Building, built at a million marks.
cost of more than $6,000,000, was Chancellor Adolf Hitler and Vice
partly destroyed tonight by fire that Chancellor Franz von Papen ap-
police described as being of incen- peared on the scene when notified
diary origin. The blaze was checked of the fire shortly after the close
after police and firemen had battled of a cabinet session. Together they
the flames for two hours. went into one of the lower rooms,
A man who called himself a Dutch I which the flames had not touched,
Communist was said by police to to receive a report of the situation.
have confessed setting the fire, which The plenary hall by 10:30 p. in.
started simultaneously at three or had been completely swept by the
four points and within a few minutes flames which spread rapidly on the
enveloped a large part of the struc- plush hangings and the upholstery
ture in flames. of the ministerial seats.
In a few minutes every fire engine At 10:45 the fire was reported
in Berlin was on the scene. Police checked, but smoke was still rising
worked fractically to hold back tre- from the smouldering embers. Fire-
mendoug throngs which packed the men continued their efforts to extin-
streets near the building. guish them.
No estimate of the damage was Authorities indicated a firm belief
immediately available, although at that this was a case of arson, and it
10:30 p. in., when the whole east was said unofficially that if there is
wing was ablaze and it seemed ap- proof involving the Communists, di-
parent that only the west wing could rect consequences for the, party will
be saved, it was said that the dam- sure follow.

Withdrawals
Still Limited
To 5 Per Cent
Detroit Arrangemenit Has
No Effect On City Banks;
Hope For Solution
Comistock Etr orts
Praised By Walz
Local Institutions lHave No
Recourse to Banks Out-
side Of State
Ann Arbor banks will continue
under the present arrangement of a
five per cent limit on withdrawals
until some plan which will allow
them to open "advisably and feas-
ibly" is formulated, C. J. Walz, pres-
ident of the Ann Arbor Clearing
House Association, announced last
night.
"The manner in which banks
throughout the country are limiting
withdrawals," Mr. Walz said, "indi-
cates that this is almost a nation-
wide problem, and we can work out
no positive plan while the'situation
is still so doubtful. There will be a
meeting of the Michigan Bankers
Association tomorrow and we hope
that some formula may be evolved
under which Michigan banks outside
of Detroit may operate."
The already difficult situation was
further complicated, Mr. Walz said,
by the fact that outstate banks,
which were having their own difficul-
ties disinclined to forward money to
Michigan banks, this being particu-
larly true of banks in Cleveland and
other Ohio cities.I
The clarifying of the situation in
Detroit helped Ann Arbor banks "not
one bit" Mr. Walz said, because of
the restriction upon outstate banks
withdrawing their reserves from De-'
troit institutions. Gov. .William A.
Comstock's errort to haveo this retric-
I tn difi d endoirsedlb y Mr

Jury Brands
Insull Trust
'Fraudulent'
return Ildictments Up To
125 Years Prison Term
And $250,000
Chicago Capitalists
Named In Charges:

$306,000 In Cas

University

0/

By

End

State Wet Bill1
For Convention
Gains In House

ToP

Of W(
Employees Will
One-Half Of P
For February ;
Says Balance Di

Re4
ay
S]

'Woman Injured
In Auto Wreck
On Washtenaw
Sustains Cuts When Cars
Diven By Prof. Hawley
And Jackson Man Crash
Two cars driven by Dr. E. G. Wil-
son, Jackson, and Prof. R. S. Hawley,
of the Engineering College, collided
at Washtenaw and South University
avenues at 7:30 p. m. last night.
Mrs. Wilson, riding. with her hus-
band, received lacerations on the
forehead above the left eye, while
the drivers of both cars escaped in-
jury.
Professor Hawley was driving out
Washtenaw toward Ypsilanti when
his car collided with that of Dr. Wil-
son, who was crossing Washtenaw on
South University going east. Dr. Wil-
son's car, a Ford coupe, was turned
over on its side after it collided with
the heavier automobile, a Studebaker
sedan, driven by Professor Hawley. .
Dr. Wilson failed to stop before
crossing Washtenaw avenue, a stop
street, according to eye witnesses.
Professor Hawley stated that he was
traveling about 30 miles per hour
when the collision took place, and
believed' that Dr. Wilson was going
at approximately the same rate of
speed. Dr. Wilson's car was fully in-
sured, he said, and he will cover all
damages.
Calls Co-operation Basis
Of World Rehabilitation.
International co-operation in all
directions to further a program of
world peace and rehabilitation was
urged by Dr. John Lapp, former pro-
fessor of social sciences at Marquette
University, in an address on "Na-
tional Security" last night in Natural
Science Auditorium.
According to Dr. Lapp, under the
system of state's isolation and ex-
treme nationalism now dominant,4
conflict is more or less inevitable.
The ideal condition, he said, would
be to do away with nationalism but
to retain the benefits of separate cul-
tures,
Theologian Will
Conduct Series
Of Discussions
Yale Professor Is Selected
As Baldwin Lecturer At
Episcopal Church

Michigan Wins,
21 To 18, With
ClosingRally
Petoskey Sinks Winning
Basket; Eveland Heads
Wolverine Scoring
Minnesota staged a last-half rally
to tie the score at 18 all, before Mich-
igan got its lone field goal of the sec-
ond half and a foul, committed as
the gun went off, to win the basket-
ball game, 21 to 18, here last night.
Sochacki tied the score with two
minutes to play by out-witting Petos-
key and sinking a dog shot, but Pete
came back by evading his guard and
also sinking a dog, Just before the
gun sounded, Licht caught him from
behind as he was shooting and gave
Pete two fouls. He made only the
first.
Michigan missed 11 foul shots
while making only nine, and the
visitors converted four out of fiv".

The Maize and Blue were held to "U011'1 "' """"' s "',"." ~""' Aux
two fouls for 18 minutes of the sec- Walz.
ond half, before Petoskey made the "We recognize the hardships under
three points that won the game. which the people are working," he
Ray Altenhof, out of the game said, "but there are many problems
with a cracked rib, was sorely missed to work out before the matter can be
by Michigan. When Ed Garner was settled correctly. The fact that we
pulled in favor of Allen, as he made have no recourse to banks outside of
only four points, the team completely the state has made the condition ex-
collapsed. tremely difficult, but we are doing our,
Captain Eveland led in scoring utmost to arrive at a plan under
honors with seven points. Petoskey, which the banks may open advisably
with his three points in the last min- and feasibly."
ute, was second with five. Two Min-
nesota players, Norman and Robin-
son also made five points. Cast S 4 ,e
With Altenhof out of the lineup,
Coach Cappon tried Oliver and Fish- For Producion
man at guard. Both players were
slow on their feet but excellent ball-
handling by Oliver, gave him theC
e d g e. Petoskey hurt Michigan's
chances several times with wild
heaves that cost the home quintet James Raymond To Have
possession of the ball.Roe I
It just was not in the cards for Leading Role In Play,
Minnesota to win. No matter how 'Tlree Times The Hour'
badly the Wolverines played, the Go-
phers were worse, except for their James Raymond, '33, will have the
rally. With only five minutes to leading role of the millionaire banker
play, Minnesota was three points be- around whmo the action centers in
hind. Many thought that they, like Comedy Club's production of "Three
Iowa, would start a barrage of long Times the hour," to be presented
I shots and maybe eke out their second March 2, 3, and 4 at the Lydia Men-
victory of the season, but they did delssohn Theatre, it was announced
not.

'

Government Determined
To Bring Insull Back
From Greece
CHICAGO, Feb. 27. - (P) - Indict-
ments entailing possible punishment
of 125 years in prison and $250,000
fine for each defendant were returned
by the Federal Grand Jury today
against Samuel Insull and 18 of his
associates. The true bills charge that
'the $150,000,000 Corporation Securi-
ties Co. was nothing more than a
gigantic scheme to defraud the pub-
lie.
Names of three Insuls led all the
rest--Samuel, an exile in Greece;
Martin, in a Canadian refuge, and
Samuel, Jr., still active in utility af-
fairs here. With them the jury
named several of Chicago's leading
capitalists: Stanley Field, chairman
of the Continental-Illinois National
Bank and Trust Co.; Edward J.
Doyle, president of Commonwealth
Edison Co., and Harold L. Stuart,
head of Halsey, Stuart and Co.
The 25 counts allege, in substance,
"a scheme and artifice to defraud
and to obtain money from prospec-
tive investors by false pretenses, rep-
resentations and promises in the sale
of Corporation Securities Co. of Chi-
cago common stock." .
Other indictments are likely to be
returned, for government prosecutors
have made manifest their determina-
tion to bring the senior Insull home
from Athens whee thus far he has
defeated the efforts of American jus-
tice to bring him to trial.
State charges of larceny and em-
bezzlement in the Insull financing
failed to gain extradition.
Similarly the use of the United
States mails to defraud is not an ex-
traditable offense, and attorneys re-
garded it as improbable that Insull
could be removed from Greece,
should the rumored indictment for
concealment of assets in Federal
bankruptcy materialize.
Japanese Prophesy
Capture Of Jelol
CHINCHOW, Manchuria, Feb. 27.
-W)-Officers at Japanese head-
quarters predicted today that theI
armies of Japan and Manchukuo
would have the province of Jehol in
the hollow of their hand in ten days.
By March 10, anniversary of the
battle of Mukden in the Russo-Jap-
anese war 28 years ago, they said,
Jehol city will have fallen and the
province. willbe ripe for annexation
to Manchukuo.
That was the prediction, but the
Chinese defense appeared to be stif-
fening and there was no relaxation of
the bitter weather along the entire
front.
General Heijiro Mattori, with a
brigade of infantry, was checked in
southeastern Jehol by Chang Hsiao-
Liang's Chinese regulars, fighting
their first engagement in this cam-
paign.
The general reported he had car-
ried part of Shamoshan Pass, driv-
ing the Chinese back, but the fight-
ing continued, apparently the heav-
iest since the invasion of Jehol
began.
The column advancing westward
through Jehol City from Chinchow
7was more successful.
Frigid Weather
Auto Ban Ihit

Reed - Bromage
Gets Favorable.
Legislature

Chicago Banks
Clear State C

Proposal
Action In

LANSING, Feb. 27.-(A4)-The sole
legislative proposal calling for a state
convention to ratify the prohibition
repeal amendment to the constitu-
tion advanced today as the legisla-
ture adjourned until tomorrow night
for the Republican state convention
at Grand Rapids.
The Senate judiciary committee
voted to release to the floor the Heid-
kamp bill providing for the selection
of delegates to a convention at the
spring election April 3. The conven-
tion of 100 delegates would be held
March 10.
Another measure reported favor-
ably was the Van Eenemaan resolu-
tion calling for county home rule
government. Resolutions providing
for the appointment by the governor
of all members of the state admin-
istrative board with the exception of
the highway commissioner were re-
leased with recommendationeas to
their passage. <
A death blow was administered the
biennial measure of Rep. John Dyk-
stra, Republican, Muskegon, when
the attorney general ruled unconsti-
tutional his bill to prohibit the em-
ployment of married women whose
husbands are able to support their
families.
Mayor Cermak
Rallies Sli htly,
Doctors Report
Optimistic News Follows
Day of Pessimism; New
Glucose Injection Made
MIAMI, Fla., Feb. 27.-(?)-A
slight change for the better was re-
ported late today in the condition of
Mayor Anton Cermak who is suf-
fering from a bullet wound, pneu-
monia and colitis.
A bulletin from the Chicago execu-
tive's bedside at 5:45 p. in. (E.S.T.)
said he had made a "slight change
for the better during the past six
hours."
"Ne has rested well," the bulletin
said. "Pulse 120, temperature 101,4,
I respiration 3."
reAnother glucose injection was to
I be made early tonight, Dr. Karl
Meyer, one of the attending physi-
cians, said.
"The mayor's color continues
good," Dr. Meyer said, "and there
appears no necessity for another
blood transfusion. At least there pos-
itively will not be a transfusion to-
night."
The cheerful news on the mayor's
condition followed upon a day of pes-
simistic reports from his bedside.
The area of the mayor's lung af-
fected by pneumonia has doubled in
-size since the disease developed yes-
terday.
Prior to the 5:45 bulletin, doctors in
individual comment said their hopes
of saving the patient had been les-
sened by the pneumonia.

Local Business Men Say
Ready Cash Will Aid In
Easing Acute Financial
Difficulties
Approximately $306,000 cash, rep-
resenting one-half of the February
pay roll of the University, will be
paid to University employees this
week, according to an announcement
yesterday by Shirley W. Smith, vice-
president and secretary of the Uni-
versity.
Special ,arrangements have ,been
made to speed collections of state
checks turned over to the University
treasurer yesterday. Clerks worked
late last night in the business offices
drawing, up pay checks to be issued
just as soon as money has actually
been deposited in Ann Arbor banks
to cover them. "It is believed that
this will be within the present wek,"
Vice-President Smith stated.
The announcement cheered Ann
Arbor business men who believe that
liberating nearly one-third of a mil-
lion dollars will aid considerably in
easing the local financial situation
which has become acute during Ucr-
rent banking difficulties.
Every effort is being made by au-
thorities in Lansing to secure the
payment of the balance of. the Feb-
ruary pay roll as soon as possible.
Definite assurancet hat immediately
collectable pay checks could be issued
was received at 4 p. m. yesterday
when John C. Christensen, controller
of the University, telephoned the
business offices from Lansing where
he had been conferring with state
authorities.
According to tentative plans last
night the state checks will be cleared
through Chicago banking houses im-
mediately, This will insure the issu-
ing of 3,500 pay checks, drawn on
trust funds in Ann Arbor banks, by
the end of the week.
Prof. Haydeii
To Speak On1
Radio Program
Political Science Expert
Will Discuss Philippine
Situation 'I Conference

M
I1
{

The game gave support to the pos-
sibility that Michigan is a first-half
team. A lead of 16 to 7 for the first
portion of the contest, was chopped
down by steady point-getting on the
part of the visitors.
The colorful playing of the bend
brought forth applause from the
crowd for the first time this sea-
son.

yesterday.
Other principals in the cast of 24
who take part in the play are David
Zimmerman, '35, Barbara Vander-
vort,, '34, Jay Pozz, '34, Nelson Shaw,
'34, Uldene Hunt, '33, and Ann Ver-
ner, '35L.
Those taking minor roles are Cur-
tis Bedell, '33, Clarence Moore, '34L,
Kay Carpenter, '35, Virginia Roberts,
'35, Martha Wheeler, '33, Leonard
Stocker, '33, Birney Van Benschoten,,
'34, Hobart Skidmore, Grad., Virginia
Frink, '35, Marian Heald, '33, and
William Rodes, '33. The direction of
the play is in the hands of Mrs. Lois

Pen v 1,104I -1 -d~~1 F/hla -

Dr. P. Linwood Urban, D.D., pro- Talks Hm r ri
fessor of theology in the Berkeley
Divinity School at New Haven, Conn.,'

A half hour of concentrated de-
bate on one of the most discussed of
current political issues - Philippine
Independence -will be presented at
7:15 p. m. tonight in a nation-wide
broadcast featuring Prof. Joseph R.
Hayden, of the political science de-
partment h c r e, Manuel Roxas,
Speaker of the Philippine House of
Representatives, and Rep. Butler
Hare, (Dem., S. C.)
The talks, which will coicectively
form a round-table discussion, are to
be broadcast over the Blue Network
of the National Broadcasting Com-
pany.
The recently enacted bill offering
the Philippines qualified independ-
ence was introduced in the U. S.
House of Representatives by Repre-
sentative Hare and is favored by
Speaker Roxas. Professor Hayden
has frequently voiced vehement ad-
verse criticism of the measure. It
is thus expected that much of to-.
night's discussion will be heatedly
argumentative.
The broadcast will be one of a
weekly series on government lasting
from January 3 until June 13 that
is being offered under the auspices
of the Joint Committee on Civic Edu-
cation by Radio of the Nhtional Advi-
sory Council on Radio in Education
and The American Political Science
Association. Prof. Thomas H. Reed,
of the political science department,

Discourages
'actions, Says Rea

and lecturer in philosophy at Yale,
will arrive in Ann Arbor Tuesday to
conduct a five-day series of addresses
and forums as the Baldwin lecturer
for this year of St. Andrew's Episco-
pal Church, Rev. Henry Lewis an-
nounced yesterday.
Dr. Urban's general subject during
the course of the meetings will bel
"Religion With or Without God." He
will present the humanistic tenden-
cies of university life today, Mr.
Lewis said, and discuss religion from
the point of view of the student.
The program of Dr. Urban's stayj

Capt. Robert A. Bartlett, popularly Maier who has produced and directed
known as "Captain Bob," veteran sea several shows for the Nell Gwynn
captain and Arctic explorer, will ap- Players.
pear here at 4:15 p. m. today on the An exceptionally large technical
University lecture series, telilng his staff is necessary for this play, ac-
tale of "Along the Trail of Peary" cording to officials of the club, be-
and showing six reels of motion pie- cause of the unique difficulties pre-

tures of his adventures in the north.
The lecture will be held in Natural
Science Auditorium,
At 58, with 36 years of exploring
behind him, Captain Bartlett is still
active. His schooner, the Morrissey,
took the 1932 Greenland expedition
to its base. Bartlett has been con-

sented by having all three acts of
the play extend over the same time
in different parts of the house. Every
sound in the first act must be heard
at the same time in every other act,
it was pointed out.
This difficulty in timing is illus-
trated by the fact that an orchestra,

Rumors to the effect that a slack-!
ening of enforcement of the auto
ban has taken place during the past
few weeks were pronounced of no
significance by Walter B. Rea, as-
sistant to the dean of students, yes-
terday afternoon.
"It is true," he said, "that all the
violators are not being caught. They
never have been. As far as this de-
partment is concerned, however, the

that they might safely take the
chance, for in reality it is not worth
the risk," he said.
"Punishment, especially for first
offenders, is not as strict now as it
was at the start, but the addition of
a few hours of credit as a gradua-
tion requirement, which is the usual
treatment the first time, may be suf-
ficient to make the student regret
his violation of the rule, especially if
it makes it necessary for him to take

oI

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