T lE MICHIGAN DAILY TunasI)
3AY, SAN
Holiday S alIel
Hits New Low;
Cash Is Scarce
Hoarding Still Indicated
As Little Currency Is
Drawn From Banks
Low Prices Noted
Undoubtedly Had Marked
Effect On Decreased
Volume Of Trade
NEW YORK, Jan. 4.-(;P)-A strik-
ing financial phenomenon of the hol-
iday season was the small amount of
currency withdrawn from the banks.
In part, it presumably reflected a
smaller volume of Christmas shop-
ping, than in recent years, but lower
prices also undoubtedly had much to
do with it.
Another factor in the modest with-
drawal of cash may have been the
use of currency which had been in
hoarding, to supplement the money
taken from banks. With currency in
circulation still somewhat above a
year ago, and close to a billion dol-
lars above two years ago, it appears
that an abnormal amount of cash i
still being "banked" in socks and tin
cans.
The Federal Reserve statements
this year showed that money in cir-
culation increased only $95,000,000
between Nov. 28 and Dec. 21. This
was the smallest in years. Immedi-
ately after the Christmas holiday,
money began pouring back into the
banks, circulation decreasing $43,-
000,000 in the week ending Dec. 28.
In the corresponding dates in 1931,
currency in circulation shot-up $254,-
000,000 or more than twice as much
as this year. That, of course, was an
abnormally large increase, reflecting
the banking difficulties of that time.
a situation since largely stabilized by
the operations of the Reconstruction.
Finance corporation. Money failed to
come back as fast as it was being
withdrawn after Christmas in 1931,
currency irculation increasing $1,-
000,000 in the week ended Dec. 30.
At least, the action of the volume
of money circulation around Christ-
mas time this year, whatever it may
indicate as to the volume of trade,
was viewed as decidedly gratifying in
contrast with last year, in showing
the return of banking stability.
Estimates as to the vol.ume of this
year's holiday trade vary somewhat.
Standard Statistics Co. places the
volume at about 10 per cent less than
last- year, with prices some 15 per
cent lower. This indicates a dollar
value of business more than 20 per
cent under last year.
Where Chinese and Japanese Forces Have Clashed
-Associated Press Photo
This is a striking view of the mountainous terrain along China's
Great Wall near Shanhaikwan-an area which has been the scene of
the latest hostilities between the Chinese and Japanese forces.
Tapestry Exhibit
Shown At Library
Returning students are being shown
an exhibit of plates of tapestries of
the 14th, 15th, and 16th centuries
in the cases of the first floor corridor
of the General Library this week.
Both French and Brussel tapestries.
are represented.
Tapestry weaving was known in
the 14th century B. C., when the;
earlier Egyptians practiced it. The
European tapestries made during the
last 500 years show the influence of
the low countries.
Gothic tapestries on exhibition in
the library depict hunting scenes,
legendary events, historical incidents,:
and pictures representing Biblical
stories. Scenes from the social- life
of the times were also made and two
cases of these may be seen. 1
The tapestries themselves are in
various collections throughout the
world, not only belonging to private
collectors, but included in exhibitions
at the Cathedral of Angers, Sens
Cathedral, and the Petit Palais, Paris.
1933 Summer
School Notice
Is Distributed
Copies Are Available At
Registry Offices, Says
Dean E. H. Kraus
The campus edition of the abridged
announcements for the Summer Ses-
sion of 1933 appeared yesterday list-
ing the courses to. be offered in the
next short session.
Copies of this booklet with listings
and numbers of all of the courses
will be available at the registry ofices
this morning, Dean Edward H. Kraus
of the Summer Session said.
The complete announcement of the
courses containing detailed informa-
tion about them and other necessary
data will appear about March 15
when it. may be obtained from Louis
Eich, secretary of the Summer Ses-
sion.
When the general edition of the
abridged announcement appears in
about two weeks, Dean Kraus said,
copies will be sent to every teacher in
the state of Michigan.
Educational Standards
Too Low, Survey Shows
An investigation of educational
standards in over 100 American in-
stitutions during the last year has
resulted in the conclusion that they
are "altogether too low," Prof. Wil-
liam B. Munro of the California In-
stitute of Technology reported to the
Association of American University
Professors which met in New Haven
recently.
Twenty - four American Aircraftj
sngines now are in operation on the
joint German and Russian airline be-
tween Berlin and Moscow.
!Schoo Metal
Hygiene Office
Is K e pt Busyi
1400 Minnesota Students
Consult Department In
Four-Year Period
MINNEAPOLIS, Minn., Jan. 4. -
Emotional problems, poor social ad-
justment, sex conflicts, and scholas-
tic difficulties have sent nearly 400
University of Minnesota students to
the mental hygiene division of the
Student Health Service for treatment
during the past four years, according
to the figures of Dr. Ellet 141. deBerry,
psychiatrist and health counsellor.
Of this group, 160 were referred to
the department of health service
physicians, 122 came voluntarily, 29
were referred by faculty members, 20
by the deans, 7 by other students,
and 5 by social agencies. Parents
sent only three and the president
but one.
The majority of students required
from one to five interviews to
straighten out their mental twists
and acquire a satisfactory social ad-
justment. However, 34 hours of con-
sultation were given to one case and
five students received more than 18
hours of interview.
Problems arising from excessive
extra-curricular activities, scholastic
problems resulting from inadequate
preparatory work or poor intellec-
tual endowment, vocational guidance,
and emotional disturbances arising
from physical defects made up the
bulk of the problems that confronted
health service psychiatrists.
Foresters Spend
Recess In Woods
Among those left behind when
thousands of students took their hur-
ried departures for home two weeks
ago were 17 student "lumberjacks"
who remained to spend their holidays
working on three nearby forestry
tracts.
These wooded areas, all close to
Ann Arbor, are owned by the Univer-
sity and used by the School of For-
estry and Conservation as field labo-
ratories. Norman L. Munster, forest
technician of the school, is in charge
of student work in the tracts, a large
share of which is done during the
Christmas holidays each year.
Lumber products pay the expenses
of all research work done in the for-
ests, according to S. W. Allen, pro-
fessor of forestry. In the process of
thinning out the growth, 150 cords
of firewood will be produced for sale
this year. The University itself will
make use of the 5,000 feet of hard-
wood lumber and the 400 fence posts
expected. Some of the posts will be
used in a half-mile-long test fence
to be built for the purpose of trying
out various species, treated and un-
treated.
The Stinchfield Woods, covering
320 acres, is the largest of the local
wood lots. The Saginaw Forest and
Eber White Woods, are on Liberty
road, within three miles of the city.
All conditions of timber growth from
virgin woods to "slash" are repre-
sented in these areas.
Work continues in the forests
throughout the year, and students
are given an opportunity to gain
practical experience especially in con-
nection with thinning and planting,
Mr. Allen said. Bitter cold weather
the first week of vacation hindered
activities only slightly.
Attemnpts To Cor-trod Virus 9
Plant Revealed At Convention
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MADISON, Wis., Jan. 4.-Attempts
on the part of two University of Wis-
consin scientists to gain control over
a plant virus, a disease-producing sub-
stance similar to that which causes
colds and influenza in human beings,
were described recently to members
of the Botanical Society of America
and the American Association for the
Advancement of Science at their
joint annual meetings.
Discussing their efforts to "kill" the
virus-a general term applied to the
various ultra-miscroscopic principles
causing disease in both plants and
animals-with the use of the ultra-
violet ray, the two scientists, B. M.
Duggar, professor of physiological
and applied botany at the university,
and Dr. Alexander Hollaender, re-
vealed that their experiments had
shown the virus to be much less sen-
sitive to the death-dealing light rays
than some known forms of bacteria.
Although the virus has been recog-
nized as a disease-causing substance
in both plants and animals for some
time, its exact nature'is not known.
The Badger scientists revealed that
their work at the University of Wis-
consin has determined the compara-
tive resistance of virus with the re-
sistance of some bacteria to ultra-
violet light of known wave-length
and energy-value.
The experiments revealed that all
of the bacteria used were less resist-
ant to the ultra-violet rays than the
virus, which proved to be 150 times
more risistant than one of the better-
known bacteria. It is this extreme
resistance on the part of the virus
that proves so baffling to scientists.
Prof. Duggar explained that in
conducting the experiments, tobacco
plants diseased with virus was ground
into a pulp from which the juice was
squeezed. This juice was then ex-
posed to ultra-violet rays of various
wave-lengths to determine their
power to inactivate the virus.
The wave-length and amount of
energy needed to "kill" the virus was
compared with that needed to in-
activate various bacteria. This work
is part of a general series of studies
the purpose of which is to determine
more accurately the nature of the
virus principle, which may ultimate-
ly lead to clearer knowledge of meth-
ods of control over its disease-pro-
ducing activity.
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Plans Nearing Completion
For Annual Conference
To Be Held Feb. 14-16
Plans for the 19th annual confer-
ence on highway engineering for the
state of Michigan, which will be held
Feb. 14, 15, and 16, at the Union, are
nearing completion, according to
Prof. R. L. Morrison, of the highway
engineering department, ,who will
preside at the meeting. The meeting
is sponsored jointly by the College of
Engineering, the Michigan State
Highway Department, and the Michi-
gan Association of Road Commis-
sioners and Engineers.
Tentative plans include a smoker
to be held on the evening of the 14th.
The annual dinner will probably be
held on the 16th. The mornings
and afternoons will be devoted to
discussions of various technical and
safety phases of highway engineer-
ing.
Members of the Michigan Good
Roads Association and the Michigan
Traffic and Safety Directors' Asso-
-iation will hold their business meet-
ings during the conference, Professor
Morrison said.
Officers Of Chemical
Association Announced
Announcement of 1933 officers of
the Michigan section of the Ameri-
can Chemical Society was made
Tuesday at the office of the chemis-
try department. Dr. Malcolm H.
Soule, professor of bacteriology, will
act as chairman during the coming
year.
Dr. W. E. Bachmann has been
elected as secretary-treasurer, and
Dr. H. H. Willard as councillor. The
last-named are both members of the
chemistry department.
Individual garages are provided for
by an interurban transportation com-
pany in London at a number of sta-
tions for customers to combine rail
and automobile travel.
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,..:.
_
Memory Lapse
Confuses Fay
Murder Case
Giant Night Club Doorman
Arrested As Suspect;
Mind Partly Blank
NEW YORK, Jan. 4.-(-P)-A huge
man who wrinkled his brow and said
there was a gap in his memory was
charged today with murdering Larry
Fay, Broadway racket chief, who put
the phrase "night club" into the lan-
guage of the jazz age.t
The man is Edward Maloney, giant
doorman of the Casa Blanca night
club that Fay managed. He surren-
dered Tuesday night after police had
sought him for 48 hours. Walking
up to a traffic policeman, he said:
"I'm Maloney. You know, the Ma-
loney they're looking for."
Questioned all night and far into
this morning, he insisted that last
Sunday, the day of the shooting, was
a blank in his mind because of enor,
nous quantities of liquor he had
drunk.
The police theory is that Maloney,
a former state trooper who once lived
in Syracuse, shot Fay dead in front
of the night club after a quarrel. The
squabble, detectives said, ,resulted
from a slash in Maloney's salary-it
Remuneration
F or Athletes
Not Favored
A resolution asking that college
football players be paid for their
services was defeated Saturday at
the final plenary session of the Na-
tional Student Federation, meeting
in New Orleans, the New York Times
reports. The resolutionhad been fa-
vored by the committee on athletics
of the Federation.
William Corbus, star football play-
er and delegate of Leland Stanford
University, sponsored the resolution.
He contended that colleges should
give scholarships, the value of which
should not exceed board, room, and
tuition.
" If the renumeration of athletes is
standardized in this way," Mr. Cor-
bus said, "the bargaining power of
all universities would be equal. We
all know this thing is being done, so
why not come out in the open and
make it a fair game?" Orville Mohler,
All-American, of Southern California,
presented Corbus' resolution.
Another resolution of Mohler's,
{owhich was passed, placed the federa-
tion on record as favoring the help
of alumni in providing work for ath-
letes so that they could go to college.
-
State Highway
Engineers Will
Meet At Union
CLOSING
had been cut from $100
week.
to $60
HRRAH
,HURA'H
IT~
Ii
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F''
rrrsrri _
IT- IS "
It's A New Year
, .* . !
but you'll find the same soft lights
and sweet music at the Michigan
League Ballroom. Make a good reso-
lution now . . . and enjoy the
League for the rest of the year
lounges you like . smooth
music, conducted by MIKE FALK
and, this week-cnd, BILLIE
GtrFFITHS, '35, singing.
SENIORS ...
You have January 5, 6, 7 only
to have your photograph made
for The MICHIGANENSIAN
FRATERNITY, SORORITY
and CAMPUS GROUPS
F..,
THE
MICHIGAN LEAGUE
are duce to be made now.
PHONE 4434
for your appointment
619
East Liberty
MICHIGANENSIAN
This first dance after vacation .
entertainment of the smoother sort
. . . a chance to see the people
you've missed during the holidays
* . and best of all real danc
ing . . . Don Loomis' Union Band,
of course . . . a perfect floor . .
the sort of lights you like - it's
worth attending.
UMic hiancs
Union " UDane
-'
IF
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ALL W INTER
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SUITS
Former Price $30 to $45
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OVERCOATS
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TOPCOATS
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TUXEDOS
Former Price $35
$23.85
$5.85 Crosby Square
.Shoes ... .......$4.95
$5.00 Hats .......$3.45
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Gordon Cord Coat. . .$4.95
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Arrow Shirts, values
to $3.00.........$1.65
FINE MUFFLERS
$1.50 to $3.50 Values
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We offer no special purchases.
Everything is liew. Our quality
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BALLROOM
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