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July 28, 1931 - Image 3

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Publication:
Michigan Daily, 1931-07-28

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TUESDAY. JULY 28, 1931

THE SUMMER MICHIGAN DAILY

... ,.... ...,. ..._ ._. ..._. ._ ..mot _c..._ -- --
_ _ __

EARLY RESUMPTION
Of BANK PAYMENTS
SEEN IN__GERMAgNY

SPOJS WORLO

Creati

on of New Bank Expected
to Lift Restrictions

By C. H. Beukema.
A published rumor that Roy Hud-
son, football captain for the ap-
proaching campaign, was to under-
go an operation for appendicitis

by Wednesday. Mondaywas nailed by Coach Har-
ry Kipke. Hudson has been exam-
MAY INCLUDE SAVINGS ined, however, because of chronic
attacks and may be forced to sub-
Function of New Bank to Back ;mitto an operation at some later
time.
Up Issues of Paper Money In connection with Hudson's
as Credit Basis. ( case it was pointed out that an
acute attack would have necessi-
BERLIN, July 27.--( P)--Hope of tated an immediate operation rath-'
early resumption of normal bank: er than permitting the day's delay
payments today lent a bright hue suggested in the published report,
to the new workaday week for Ger- while, with a chronic case post-
ponement might be indefinite. At
mans who have been laboring un- any rate, it was said, no such op-
der the depressing influence of the eration would take place previous
financial crisis for the last fort- to the football campaign unless it
night.1is necessary.
The new acceptance of guaran- T g F p
tee bank, through which such re- The ageing French Davis Cup
sumption is to be attempted, wasto team of Cochet, Borotra and Brug-
be officially launched today If all non once more has shown that the1
goes well with the bank, the crea-
tion of which was announced late
Saturday, restrictions on commer-
cial bank payments will be lifted ISTN 9 U T
by Wednesday.
Whether savings will be included

tain but observers believed it like-
ly they would.
The function of the acceptance
and guarantee bank, which is
vouched for not only by the 11
biggest German banks but also by

Second of Series of Three Teas
Given for Faculty Members
of Three Schools.
Guests of honor at the League

the government itself, will
guarantee commercial paper
the Reichsbank otherwise

be to tea yesterday afternoon
which ing faculty members in
would of Education, School of

were visit-
the School
Music, and

not be permitted to accept as the
basis for credits to banks.
At the same time the Reichsbank
will keep its discount rate high
enough to discourage any tendency
of banks to draw more currency
than is absolutely essential to keep
the wheels of industry turning and
the nation's banking machinery
from coming to a standstill.
In-as-much as the fortnight of
bank payments restrictions has re-
sulted in such choking of normal
currency circulation that even the
strongest banks are likely to be
embarrassed by the stoppago fof
normal inflowing payments, the
reichsbank probably will be unable
to care for all the legitimate de-
mands through the new bank with-
out dropping the gold coverage for
currency still further. It was 36.1
per cent on Saturday.

Law School. This was the second
of three teas to be given for non-
,resident professors and their wives
by the Women's League.
Present at the tea were Prof.
Eugene Byrne and Mrs. Byrne, Prof.
W. W. Patty, Prof. Frank L. Okta-
vec, Miss Lydia Jones, Prof. Paul
Rankin, Miss Nila Smith, and Prof,
Paul Washke, Dean Edward Kraus
and Mrs. Kraus. Dr. Margaret Bell
and Mrs. J. E. Beal poured. Wives
of faculty who assisted were Mrs.
G. Carl Huber, Mrs. Chas. A. Sink,
Mrs. Palmer Christian, Mrs. Earl
V. Moore, Mrs. Guy Maier, Mrs. Paul
Leidy, Mrs. Evans Holbrook, Mrs.
C. O. Davis, Mrs. Thomas Diamond,
Mrs. Clifford Woody, Mrs. John
Sundwall, Dr. Kaitherine Greene,
Mrs. Barbara Bartlett, Mrs. L. W.
Keeler, Mrs. W. C. Olson, Mrs. Jack-
son B. Sharman.

world's tennis laurels belong under
the tri-color. But, it also demon-
strated that France is probably en-
joying her last year as holder of
the cup, unless she is able to de-
velop some new talent.
The fast-coming British team,
which surprised the world by beat-
ing the United States in the chal-
lenge round, held the French team
to a 3 to 2 victory and would have
won easily, but for the magnificent
play of Henri Cochet.
Cochet defeated both Bunny Aus-
tin and Fred Perry in singles
matches and, teamed with Jacques
Brugnon, vanquished the Hughes-
Kingsley doubles team, to give
France all its wins. The older
French star, Jean Borotra, who,
with Rene La Coste, lifted the title
from the United States in 1927, fell
before both Austin and Perry.
The outcome of this year's play
raises the question regarding the
world's greatest tennis player. Is
it Cochet? If not, it is one of three
professionals, Bill Tilden, Vinny
Richards or Karel Kozeluh. In their
last meeting, Cochet demonstrated
that he was Tilden's master and
Tilden has vanquished both Rich-
ards and Kozeluh to take srank
of the world's outstanding profes-
sional.
It is unlikely, however, that Co-
chet is the craftsman that he was
a year ago, for even though he de-
feated the British team almost sin-
gle-handed, he was forced to the
limit to beat Perry. He won three
out of four sets, the third going 16
games to a 9-0 score and the last
being decided 6-3 after Perry had
come close to beating the French-
man in the ninth game.
It is likely that the American
team of Shields, Wood, Lott and
Van Ryn will meet the British in
the crucial test next year; in other
words that the challenge round will
see Americans and British again
opposed and that the winner of that
round will conquer the French. At
any rate, much hinges on France s
ability to develop a player to give
Cochet satisfactory aid.
In the Crescent
at Cornell
r
Y
... as in 42 other
leading colleges,
there is one favorite
smoking tobacco
ENGINEERS walking across cam-
pus to a lab in Sibley ... arts
students gathered onthe porchof
Goidwin Smith ... lawyers on the
steps of Boardman. Not much time
between classes ... but enough for
a pull on a pipe of good old Edge-
worth!
Cornell men know their smok-
ing tobacco. And they're not alone
in their choice. Harvard, Yale,
Illinois, Michigan, Stanford, Dart-

mouth, Bowdoin-all report Edge-
worth far in the lead. In 42 out of
54 leading colleges and universities
Edgeworth is the favorite pipe
tobacco.
Cool, slow-burning burleys give
this smoke the character that col-
lege men like. Try a tin of Edge-
worth yourself-pack it into your
pipe, light up, and taste the rich
natural savor of fine burleys, en-
hanced by Edgeworth's distinctive
eleventh process.
At all tobacco stores-15ยข the
tin. Or, for generous free sample,
write to Larus & Bro. Co., 105 S.
22d St., Richmond, Va.
EDGEWORTH

ASKED TO DECIDE
AIR RACEWNE
N'a ional Aeronautical Group
Will Award Trophies, Cash
to Balloon Contestants.
DETROIT, July 27.-()P)-The Na-
tional Aeronautical association will
be asked to decide the winner of
the Detroit Balloon club race which
started Saturday and ended Sun-
day when the seven contesting bal-
loons landed in Ontario, Pennsyl-
vania and Ohio.
Pilots Edward J. Hill and Tracy
W. Southworth apparently were
tied, having covered approximately
220 miles each.
Hill, piloting the WJR landed at
Marietta, O., at 9:20 a.m. He was
winner of the James Gordon Ben-
nett international trophy race in
1927.
Southworth, piloting the Detroit
balloon club entry No. 2, came to
earth nine miles southeast of Pitts-
burgh at 10:50 a.m.
Dr. George rel LeGallee, Detroit
physician and his 10-year-old son,
George, jr., landed at New Ply-
mouth, O., 50 miles southeast of
Columbus at 3 p.m., having cover-
ed about 215 miles.
L. P. Furculow of Akron, o., pi-
loting the Goodyear Zeppelin Corp.
balloon landed five miles southeast
of New Castle, Pa., at 1:30 a.m.,
about 180 miles distant.
George Hineman, Cleveland, fly-
ing the Cleveland balloon club en-
try drifted about 175 miles, landing
near Gault Ont., at 10:25 a.na.
S. A. U. Rasmussen piloting the
"Highball" landed at 7:20 p.m.,
two miles north of Fowler, O.,
about 150 miles distant. He set a
world's record of 580 miles in win-
ning the event in 1927.
Roy Cunningham, 26, youngest
pilot in the race landed near Hart's
Grove, O., at 10:35 a.m. having
covered about 135 miles.
The race was for cash prizes and
the Detroit News trophy. The bal-
lons took off about 5 p.m., Satur-
day.
UNIVERSITY OF ARIZONA- A
6efeated candidates' club has bec i
organized by the studers who were
unsuccessful in the spring elections.

ONE SUMMER DAY
Affords ample time for a delightful 120-mile
round trip cruise on Detroit river and
Lake Erie from Detroit to
PUT-IN-BAY ISLAND PARK
Scene of the Battle of Lake Erie. Golf, bathing, boating,
fishing, picnic in the grove or dine at the fine hotels. Perry
Victory monument and wonderful caves.
7 5 FOR THE ROUND TRIP. CHILDREN l
CWEEKDAYS. $1.25 and 65c SUNDAYS. 40c
Return same day
Str. Put-In-Bay leaves foot of First St., Detroit, daily, 9 a.m. Home at 8
p.m.,except Fri.,10:15p.m., forPut-In-Bay, CedarPoint and Sandusky,0.
A BARGAIN TWO-DAY OUTING 7
The Crescent Hotel Company and Ashley & Dustin
SteamerLine have joined to offer the extremely low rate of $7 fora two-day
outing at Put-In-Bay. Leave Detroit any day at9a. m., arrive la noon. Lunch
at Crescent Hotel, also evening dinner and room; breakfast and dinner
the next day. Round trip on steamer and dinner on the boat returning.
CEDAR POINT
The Lido of America. Special excursions every Friday with over three
hours at the Point, $1.50 round trip; other days one hour stopover, fare
$1.75 round trip, Cedar Point or Sandusky. Return same day.
DANCING MOONLIGHTS
Leave Detroit 8:-45 pm.Wednesday -Thursday, 60c.
Home 11:30 p.m. Saturday, Sunday, 7 c.
Finzel's Snappy Band.
ASHLEY & DUSTIN STEAMER LINE
Foot of First Street Detroit, Michigan

C LAS$SIF IBI
&AVERTiSING
LOST-Brown leather coin purse,
University golf course, Wednes-
day. Finder please call 3718.
LOOK AT THIS BARGAIN-Brand
new $100 Gibson tenor banjo and
case for sale at fraction of cost.
Phone 7017. 25, 26
WANTED-By starving University
graduate, job requiring poise,
personality, and ability, compen-
sated accordingly. Reply D-13,
The Daily.
FOR SALE- Student leaving coun-
try. Rugs, Prints, brasswork and
many other hand-made articles
sold at their original price in
Persia. Goods will be displayed at
Lane Hall, July 27-30, 9:00 a.m.
to 9:00 p.m.

PAGE THRk1
LOST-Elgin, watch with knife,
chain; probably on Olivia; mark~-
ed WCM and FJM. Chain lost on
South U. W. C. Moffatt, 1408
Washtenaw; phone 9235.
FOR RENT-A clean well-furnish-
ed liveable apartment, of 4 rooms
near U golf course at 1339 S. State
St. Phone 3403.
LOST-White 4gold watch chain
with Michigan pendant and nail
clip attached. Lost perhaps a
month ago. Call Michigan Daily
office.
SUBSCRIBE
TO THE
SUMMER
MICHIGAN DAILY

hI . A

r. .A(

SUMMER VERSIONS n FELT
ofsteafamous
tMPRESSeEegENIE HAT
,,,,".- " '-"-l aring, p iq ua nit
fermnine, fascinating.
000000000000The hat that has
captivated Paris and
changed the mode-
is acclaimed the most
\\ \interesting hat sil-

HE laundering of woolens requires the

greatest

care. Shrinking is inevitable unless your work
is handled properly. The Varsity has by its long years
of experience been able to give the proper treatment
not c .iy to assure satisfaction but to guarantee against
;nliiul elements in laundering.
h

l'.

houette of the season.
In wine, black,
brown, green.
$ .50
The new hats de-
mn id a perfect
wave! Our oper-
ators will give a
soft, natural look-
ing permanent
wave and show
you how to set it
for the new "Em-
p r e s s Eugenie"
hats.
(Third Floor)
Millinery-
^ernind1Floor

We use Ivory Soap exclusively. However ti
service involves no additional cost to you.
THLE
1,UNDIRY Cp-
Liberty at Fifth

is

4'I
III
i'll
I' '
III'
,' I

r
*.

SMOKING
Edgeworth is a blend
of fine old burleys,
with its natural savor
enhanced by Edge-
worth's distinctive
eleventh process.
Buy Edgeworth any-
where in two forms
x -"Ready-Rubbed "
and "Plug Slice." All
sizes, 156 pocket
package to pound
humidor tin.

TO BACCO
HIGH GRAVE
REAY.IBBE D
tU r Ft

.,
,
' '
Ii'I
,'', I
,

Ill

III

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