THE MICHIGAN DAILX

Germany Has
Enough Goods
To Meet Debt

Novelist Marriu s

DetnLsche Bank
Note Holders
Realistic Step

Offer to
Called a

Wonen to Hold Canoe
Trp, Picnic on Friday
A picnic supper, combined with
canoeing for women on the campus,
will be the last social event this
summer.
The women majoring in physical
education are planning this supper
for Friday. The party will leave Bar-
bour gymnasium at 5:30 o'clock in
cars for Saunders Canoe Livery where
they will cmbark in canoes and pad-
dle up the Huron. They will eat at
one of the picnic spots up the river,
returning before 8 o'clock.
Alice Lynch, Vivian Hopkins, and
Jean Hall are in charge. Fifty cents
will be charged to cover cost of the
food and canoe rent.

NEW YORK, Aug. 9.-(,)-Lack-
ing gold, but having plenty of goods,
Germany has made a realistic ap-
proach to the problem of meeting
her debt maturities abroad in the
settlement offered to holders of the
$25,000,000 note issue of the Deutsche
Bank which matures Sept. 1, accord-
ing to some Wall Street bankers.
Germany's only method of get-
ting dollars with which to pay off
the loan would be through sale of
goods abroad, or shipment of gold.
High tariff barriers have shut out
her goods, and her gold stocks are
already depleted.
T h e holders of these Deutche
bank notes, therefore, are offered
the alternative of having the loan
, extended for three years, or receiv-
ing payment in "blocked" marks,
that is, in German currency which
is perfectly good in Germany, but{
which cannot be transferred into
other currencies.
Therefore, the holders of these
notes who demand payment rather
than accept extension, may receive
marks to buy what they will in
Germany, but Germany can't get
dollars, so the note holders can't get
dollars. They may buy goods in Ger-
many, and bring them home, pay-
ing the duty, or they may invest
their money in German securities.
The Deutche note issue is the sec-
ond maturity of an external loan this
summer which could not be met by
full payment of cash. On July 15,
the Saxon Public Works $7,000,000
5 per cent note issue matured. Hold-
ers were offered a small payment in
cash, and new 6 per cent notes ma-
turing in 1937.
Despite the Lausanne agreement,
which Germany insists means the
end of reparations, the transfer prob-
lem is such that German payments
- abroad are still difficult.

LOST--A filligree, platinum bar pin
with tiny diamond, either in 'li-
brary or on the way from library
to Thayer. Finder please call Ann
Arbor, 4754. Reward. -0
WANTED
WASHING AND IRONING WANT-
ED-Will call for and deliver.
Soft water used; washing done
separate. Phone 2-3478. -c
WANTED-Laundry. S o f t water.
21044. Towels free, socks darned.
-c
WANTED-Half-time or full-time
business position. Young woman
with business and Univ. training,
through experience in academic
routine. Box No. 1 -1
FOR SALE
FOR SALE-New 1932 and 1933 furs
and fur coats at lowest prices in
our history. Zwerdling Fur Shop,
Ann Arbor, since 1904. -c
FOR SALE-Chevrolet sedan, run
only 4,700 miles, excellent condi-
tion, bargain price. Phone 9562.
-0

CLASSIFIED
ADVERTISING

I
Susan Ertz, American novelist, and
Maj. J. Ronald McCrindle, British
barrister, were married recently in
London.
Commission Head
Forecasts Defeat
For Seaway Foes
MILWAUKEE, Wis., Aug. 9.-UP)-
William George Bruce, of Milwau-
kee, director of the Great Lakes-St.
Lawrence Deep Waterway Commis-
sion, today predicted that the move-
ment started by Buffalo, N. Y., to
"defeat ratification of the treaty with
Canada for construction of the St.
Lawrence Waterway," would be de-
feated.
"The trouble with Buffalo is that
it has been and will be the port on
the lakes that will suffer most from
the seaway because shipments now
going via Buffalo will go through
the seaway.
"Buffalo's protests are being in-
geniously worked out, but it will
stand alone and will not even have
the support of New York State."

TYPING-Theses a specialty. Call
M. V. Hartsuff, 9087. -0
TYPEWRITERS, all makes, bought.
sold, rented, exchanged, repaired.
O. D. MORRILL, 314 So. State.
-c
TYPEWRITING AND M I M EO-
GRAPHING promptly and neatly
done. O. D. MORRILL, 314 So.
State St. -c

LOST AND FOUND
LOST-Not if your furs are stored
here. Our policy protects your furs
completely 12 months. Zwerdling's
Fur Shop. Complete fur service
since 1904.--c

FOR RENT
FOR RENT-Nice residence. Campus
section, well furnished. Pleasant
surroundings. Garage. Available
Sept. 1. References required. Phone
5740. -2
FOR RENT-A furnished apartment
with private bath and shower for
three or four adults. Also fur-
nished apartment for one or two
and single room. Steam heat,
shower, continuous hot water, gar-
age. Dial 8544. 422 E. Washington.
-2
I

I

The LNONCF
Packard at State Street
is again Open for Business
under personal management of Mr. Frank Manikas.
Any unused Lincoln meal tickets will be honored.
The same quality and service will be maintained.
Nearest eating establishment to the Intramural Bldg.

I

I

11111

-Extra Added_ ______GAN
Stan Laurel and Now Showing
Oliver Hardy Frank Craven's Stage
in Success
"BEAU HUNKS" "THE FIRST YEAR"
-with-
Olympic Games in JANET GAYNOR and
Paramount News CHARLES FARRELL
/04 A

II

WE SOLICIT YOUR

PATRONAGE

I

Students
Not Receiving
The Michigan Daily
will report all complaints to
the Publications Building on
Maynard Street.
Phone 2-1214
Hours 9-12; 2-5


- ymm"IMM

.

Summer
Close-outs
Today Through Saturday
DRESSES
Our entire stock of
Summer Silks, in-
cluding s e v e r al
dark dresses, will
be sold for only..
$5.00
4
COTTON
DRESSES
-A large stock of
voiles and batistes
will go for only..
$1.00
others at $1.95 and $2.95
WHITE COTTON ANP
MESH GLOVES
59c
4
WHITE FLANNEL AND
SILK( SKIRTS
$1.75
SELECTED PIECES
OF JEWELRY
35c

C-R-A-S-H! The very earth seemed wrenched asunder by a
giant hand ... Then dread silence; an ominous pause; fol-
lowed by a terrific inferno of destructive flame and explosion.
That frightful conflagration at the Denmark, New Jersey,
government arsenal, took heavy toll of lives.The little town
nearby was suddenly hurled into a maelstrom of terror, loss
:.. and federal investigations.
There was little justification for this calamity; hardly any ex-
cuse for the lack ofprotection to lives and property. But,!Gov-
ernment investigations whitewashed all concerned-until...
The editor of Chem and Met investigated the smoldering
ruins. His report was not of the "whitewashing" type. It
boldly set forth the facts-disclosed the lack of protective
measures-placed the blame directly where it belonged. And,
all through the bitter controversy which followed, this editor
held his ground-didn't retract one word of the truth.
The consequence? From that time forth, the Government has
faithfully embodied, in all arsenals constructed, those rec-
ommendations for safety and protection which were'stressed
in this McGraw-Hill journal.

BECAUSE the combined horsepower of turbine-electric equipment in-
stalled and now in process of construction passed the one million mark
during the year. BECAUSE the President Hoover, first all-electric ship built in
America for commercial transoceanic service, completed its first round trip to
Asiatic ports. BECAUSE the Talamanca, the first of the largest electrically
propelled fleet ever laid down, was delivered to its owners. BECAUSE elec-
trification-an American contribution to marine transportation-was adopted
by the leading shipbuilding. countries-of the world. BECAUSE, on the high
seas and on inland waterways, electrically propelled ships established new
records for speed and continuous operation. * General Electric engineers
not only pioneered the aplicatiop of electric propulsion, but have made

Business men, industrialists and engi-
neers-600,000 of them-regularly read
the McGraw-Hill Publications. More
than 3,000,000 use McGraw-Hill books
and magazines in their business.
The Business Week Radio Retailing
System Electronics

Aviation

Product Engineering

Factory and Industrial Engineering and
Management Mining Journal
Power Engineering and
Industrial Engineering Mining World
Coal Age Electric Railway Journal
TextileWorld Bus Transportation
Food industries American Machinist
Electrical World Engineering News-
Electrical Merchandising Record
Electrical West Construction Methods

McGraw-Hill editors, first of all, must dig out the truth.;.
then through every opposition, stick to their guns. This is
one big reason why so many of the nation's leaders turn to
these journals for news on industry's doings. This, too, is
one big reason why you should read the McGraw-Hill paper
that covers the field you expect to enter.
TLneling colege librarie hae McGraw.-ill Publirntine

,-mmr'a la rr ,i ruAHi'rn ',ofthe 'Presdevnt Hoover .and the ~six new ships of the