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Trade NEW YORK, Jan. 4.-(;P)-A strik- ing financial phenomenon of the hol- iday season was the small amount of currency withdrawn from the banks.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 Money failed to come back as fast as it was being withdrawn after Christmas in 1931, currency irculation increasing $1,- 000,000 in the week ended Dec. 30.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 I I 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. I I it 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. -------- ,..:. _ 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 I. 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 'i I I' I', ALL W INTER MERCHANDISE SUITS Former Price $30 to $45 $17.85 to $19.85 OVERCOATS Former Price $30 to $40 $16.85 to $21.85 TOPCOATS Former Price 30 to $45 $15.85 to $18.85 TUXEDOS Former Price $35 $23.85 $5.85 Crosby Square .Shoes ... .......$4.95 $5.00 Hats .......$3.45 $3.50 Hats ........$2.45 Gordon Cord Coat. . .$4.95 Gordon Pea Coat. .. . $3.95 Arrow Shirts, values to $3.00.........$1.65 FINE MUFFLERS $1.50 to $3.50 Values 95c to $2.45 75c Wool Hose.....,.39c $2.50 Lined Gloves .$1.39 $2.50 Unlined Gloves.$1.95 $1.00 Ties . ........ .79+c We offer no special purchases. Everything is liew. Our quality has been maintained although BALLROOM 1 , om, a 11