THE MICHIGAN DAILY

Sentenced To Death Fo) Missouri Kidnaping

NEW YORK, July 31.-(RP)--James
J. Dolan can't make good that prom-
ise now.
When Mrs. Alice Shiffer Diamond,
widow of the notorious "Legs" Dia-
mond, was murdered a few weeks ago,
Jimmy Dolan said:
"I'll get the guys who did this. I'll
get 'em."
But he never will. They got him
first-got him through the back Sun-
day night in a Brooklyn beer garden,
and then ran away into the night.
Dolan, mortally wounded, stag-
gered in pursuit, fumbling for his
gun. At the curb he fell. Wheril police
arrived he was dead.
A year ago he was struck down.
from behind. That time the weapon,
was a. knife. He was in a hospital for
weeks.
Dolan didn't do much talking
about that. A fellow In his business
-he was acting as bodyguard te Mrs.
Diamond up to the time of her mur-
der-has got to expect that sort of
thing-a knife in the back, hot lead
in the spine.
Mrs. Diamond was found murdered
in her apartment a short time after
she had remarked to friends that she
was "getting tired of covering up for
a lot of lugs," by which she appa-
rently meant that she might start
talking, to tie discomfiture of what-
ever "lugs" she had in mind.
They -goti her first; ands Dolan
swore his oath of vengence; and
they got him.
He was seated with another man
in the beer garden when two otherF
entered;. Dolan appeared to know
them, for he spoke. The men stopped
at Dolan's table and a conversation
started. It was short-lived. The two
men suddenly backed away from the
Dolan table. Dolan's back was turned.
One of 'them drew a gun.
Into that back poured the killer's
lead.
Secy. Perkins
its Proposals
Of Steel Code
(Continued from Page 1),

International Loans Are Cause
Of Sirnp, Timoshenko States

sorbed, and to a certain extent by
the technical processes of the indus-
try," she said.
OFFICIALS WORK ON CODE
WASHINGTON, July 31.-(AP)-Of-
ficials of the recovery administration
today were whipping together a final
draft of a code for the retail' in-
dustry, under which merchants would
operate pending its formal consid-
eration and approval instead of
under President Roosevelt's blanket
wage and hour agreement.
A premature announcement was
given today that all retail stores
would be perinitted a 48-hour week
instead of the 40-hour week specified
in the President's agreement.
Later, however; A. D. Whiteside,
a deputy administrator, said it had
not been determined whether this
would affect all stores or only those
in the smaller cities.
Those smaller stores have con-
tended that since they are now work-
ing some 60 to 80 hours, cutting to
40, would be financially impossible.
Meanwhile Hugh S. Johnson, chief
administrator, said the plan to per-
mit the retailers to operate tempo-
rarily under their own code and use
the official "blue eagle" insignia was
a not an exemption from the Presi-
dent's agreement, but was fulfilling
the intent of the agreement to speed
up the submission of codes.
Johnson emphasized that there
would be no big group exemption of
any kind,
There were numerous requests for
details and texts of the retailers code
as drafted, but no satisfaction on any
such points could be obtained at the
industrial administration or from re-
tail executives themselves.
The orny information forthcoming
was that work on the draft still was
going on, and that even those par-
ticipating . were at a loss to know
how the hours, wages and other
questions would be settled.
Johnson said no modification of
the President's general agreement
was involved in the action, adding:
"You can bet that no group of
exemptions will be allowed."
State Loan Committee
Meets At Union Today
The joint legislative committee
named to study small loan compan-
ies in' the state will hold its first
meeting at 3 p. m. today at the Un-
ion, according to an announcement
made yesterday by Representative
Philip C. Pack, representative from
Washtenaw County who is on the
committee.
Other committee members are
Q~nf- '7U ~amnrofAdri,n

The policy on the part of indus-
trial nations of the world under
which they loaned large sums to agri-
muitural and raw material producing
;ountries, for the purpose of buyinf
the lender's manufactured goods anc
'or increasing the production of agri-
ultural nations, was and still re-'
nains a main cause of world depres-
ion, because the lending nations
zave so restricted their own imports
hat the debtor countries cannot sell:
mough either to meet their interest'
>ayments or to continue to buy the
exports of the manufacturers and
.ender.s.
This chain of events now throttles
)oth types of nations, the producer
if crops and raw materials being un-
%ble to sell in quantity or at profit-
ible prices, while the industrial coun-
'ry finds its valuable export trade
lose to ruin, states Dr. Vladimir P.
rimoshenko, lecturer in economics at
.he University of Michigan, in
"World Agriculture and the Depres-
sion," a study published this week
°y the University Bureau of Business
Iesearch. Dr. Timoshenko's previous
studies on the inter-relationsinps of
agriculture and business and the re-
ation of Russia to the world wheat
'roblem have received international
attention.
Prices of agricultural commodities
'egan to decline early in the period
-f prosperity and the first nations to
oo off the gold standard were pro-
ducers of this class of food stuffs and
raw materials, Dr. Timoshenko shows
in his analysis of the post-war pe-
rio. These nations kept up their pur-
chase of manufactured goods only by
the large flow of capital in their di-
rection from 1924 to 1929. But even
in these years,-he states, tariffs quote
laws and other restrictions limited
the amount of their products which
could be sold to industrial and lend-
ing nations -to pay the interest on
foreign loans and maintain the bal-
ance of trade. As early as 1928 this
situation had become dangerous for
many, he says.
The crash dates from the agricul-
tural year} 1929-30, wvhen both the
volume and value -of *agricultural ex-
ports declined suddenly. The fall in
prices, already under way, increased
rapidly, says Dr. Timoshenko. The
"convulsive reaction" on the part of
industrial and creditor nations was a
sudden cutting off of foreign loans
and even more drastic restrictions
against agricultural imports. This left
the agricultural part of the world
with heavy debts, interest payments
increased by the fall 'in the price of
their goods for export, and with their
°reditors refusing to accept such
products in the bargain, declares Dr.
Timoshenko..
Monetary disturbances came only
secondarily to the upset of supply
and demand between industrial and
agricultural nations, although they
rave aggravated matters since, Dr.

Timoshenko states. The remedies
annot be found merely by raising
)rices by inflation or other financial
nethods alone, he believes. He sees
he scaling down of debts, at least
o agricultural and raw material pro-
lucing nations, as inevitable, to-
ether with a policy of give and take
vhich will conform to the economic
aws of supply and demand.
Stock Market
Slums Under
NEW YORK, July 31.-(P)-Stock
market prices slumped today under
quiet but steady liquidation and some
renewed short selling by bearish con-
tingents that played for the expect-
ed "secondary reaction." There was
a noticable scarcity of bids and a
number of leaders dropped 1 to 6
or more points. The close, despite a
late rally, was heavy. Transfers ap-
proximated only 3,300,000 shares.
The dollar gave up about 10 cents
to sterling in early transactions, but
got it all back and more. The mar-
kets, however, apparently paid little
attention to exchange gyrations.
Trading was dull throughout. Grains
lost the limit at Chicago, but were
only moderately lower in the unre-
stricted Winnipeg trading. Cotton
dropped about $2 a bale at one time'
and then rallied moderately, silver
improved a little, but other commo-
dities were a trifle mixed. Bonds were
irregularly lower.
Various of the more depressed
shares shaded their losses in late
dealings, but there was little enthu-
siasm for the recovery. Case lost 8 1-2
points, United States Smelting
dropped 7 1-2 and Homestake Mining
yielded 25.
Others off 1 to 5 or more included
American Telephone, Santa Fe, Cel-
anese, General Motors, United States
Steel, American Can, Western Union
Bethlehem Steel, New York Central
Chrysler, Commercial Solvents, Na-
tional Distillers, American Commer-
cial Alcohol, Illinois Central, Deere.
Southern Pacific, Cerro De Pasco and
du Pont.
Public On Sidelines
Most commission houses were down
to around a normal rate of business
today and predictions were general
that a quieter market could be ex-
pected during the next few weeks
with price fluctuations much milder
than in many past sessions. Today's
business was largely professional with
the public inclined to hug the side-
lines for the moment. Brokers point
out that the recent break took away
considerable trading enthusiasm as
well as profits from the customers
who were dealing in symbols rather
than in values.
Notwithstanding the nervousness
of cotton futures, followers of this
staple were cheered by the prelimi-
nary estimate of the New York Cot-
ton Exchange service which placed
world consumption of American cot-
ton during the 1932-1933 season at
approximately 14,132,000 bales. This
is the largest consumption since the
1928-1929 season when world spin-
ners used 15,226.000 bales of the
American product.
SPECIAL
Reduced Prices On
All Permanentsj
MANICURES . . 25c
FACIALS . . . . 50c

(continued from Page 1)
will of the United States and upon
the force at its disposal in order to
carry it into effect. It is, at best, a
one-sided and special statement of
Such seems to be the doctrine which
President Monroe declared in 1823."
The doctrine, admitting the Amer-
ican states to be free and independ-
ent, did not then, nor can it now,
claim any special right or duty
against or from them, Dr. Scott
continued. It was directed toward
the outside world and asserted a
r i g h t to prevent non-American
countries from interfering with them
contrary to the form and intent of
the proclamation.
In Theodore Roosevelt's annual
message of 1904, he speaks of the
Central and South American coun-
tries in the language of a. superior
to an inferior, according to Dr. Scott.
In regard to the content of this
message he said, "It is not a con-
dition of things that the 13 Ameri-
can colonies, which had proclaimed
their independence but had not as
yet acquired it, would have accepted.
Their treaty of alliance with France,
which was to procure that independ-
ence, was to be on an equal footing.
"No nation, it is believed, has here-
tofore, without compulsion, subjected
uhe properity of its domestic activi-
ties to an exterior and superior will,
-nd it is probably not an exaggera-
;ion to say that no person, unless a
iependent, would accord to any one
the right to pass upon personal con-
duct in the ways specified in this
luotation. Whether we are dealing
ith free and independent nations,
protectorates or dependent bodies-
?olitic, with persons of one and the
;ame country, or of any foreign na-
:ion, the answer to the question pro-
pounded by the Institute of Public
Affairs of the University of Virginia
would seem to be that such a doc-
. rine could not be in the best inter-
?st of the country asserting it, and
Ghat it should not be necessary, or
lesirable, or in the best interests of
,any country, or indeed of any per-
son."
In a special message in 1905 Theo-
dore Roosevelt clarified his stand in
regard to the Monroe Doctrine, Dr.
Scott said. In looking at the policy
here set down, he stated, we are not
dealing with Monroe Doctrine but
with an alleged corallary of which
our President (Theodore) Roosevelt
is the acknowledge author. We are
lace to face with intervention, and
the intervention is ordinarily sup-
posed to be in the interest of the
intervenor. Were this not so, there
would not be so many instances of
intervention in the books.
In summation of the problem un-
der discussion Dr. Scott concluded:
"There are three policies of the
United States: the first, after the
declaration of our independence and
before we acquired,-that our rela-
tions with the outer world be upon
a footing of equality; the second,
after the recognition of our inde-
pendence, and while we were still as
a newcomer in the community of na-
'ons, when we were sure of our fu-
ure greatness and power but not
.1 its actual possession, 'and when we
nsisted upon the law of nations and
ts equal application; now we are
n the third stage,-the peer of any
country and the material superior
>f most. In this period, our rela-
;ions are preferably with the large
owers and we think in terms cif
arge interests. The markets of the
United States are too small for our
ambitions or for our needs. We think
n terms of expansion; we talk in
vords of power; and we act as one
laving authority. If the policy of
,he United States when we were not
a great power differs from that when
we have become, in the opinion of
many, the greatest, which of the
policies is correct? Is it not rather
that when we insisted upon equality,
upon our rights and. the duties of
others under international law, upon

justice and its equal and impartial
administration as the protection of
the weak against the strong? The
acceptance of the rule of justice on
the part of the powerful is an evid-
e n c e that, notwithstanding its
strength, it is still penetrated with
the ideals of other days, and the
evidence of a nobility of nature,
alike on the part of the government
as of the people; for still it is true,
irrespective of time, place or cir-
cumstance, that 'justice exalteth a
nation.'
BEAUTY SHOP
Sampoo and
Finger Wave .. .. ..50c
Finger Wave ...... 35c
Permanents
arGoK eleen ........$5.00

-Associated Press Photo
A smash at the kidnaping epidemic was delivered by a Kansas
City jury which convicted Walter McGee, confessed leader in the
$30,000 ransom kidnaping of Mary McElroy, and imposed the extreme
penalty. Officials hailed the verdict as one that would put a check
on abductions. McGee, apparently unmoved by the verdict, is shown
as he was returned to his cell.

Elliott O poses
Appointnent f
W. L Moffett
WASHINGTON, July 31P-(A)-Op-
position to the prospective appoint-
ment of W. H. Moffett, former first
vice-president of the Standard Oil
Co., of New Jersey, as administrator
of the oil industry under the Recov-
ery Act, was registered in a formal
statement today by John B. Elliott,
independent oil producer of Los An-
gele'.
Elliott, along with W. C. Teagle,
president of the Standard Oil Co., of
New Jersey, is an -official advisor to
Gen. Hugh S. Johnson, recovery ad-
ministrator, on the petroleum indus-
try.

Repertory Players Will
Take A Flyer Tomorrow
(Continued from Page 1)
when she turns up with the goods
on him, he melts like an icicle in
Cairo. And does she like it?. Yes
she does.
Poor 'old Helena, with a' heart of
gold underneath, may have to do a
Mae West to trap her man, but the
only answer is that she's so nuts
about him she'll- go the limit to bring
him back home.
T. W. thinks "All's Well That Ends
Well" is a swell show. "Shakespeare
got his plot from a Boccaccio 'clever
wench' tale," he says, "but hehu-
manized it.,Helena is a real woman,
and though she may not' be a ro-
mantic heroine, she is psychologically
correct. Bertram is something sxort
of a pure romantic also, but he cer-
tainly acts just as virtually any man
would act under the circumstances.
The play is a combination of the
best aspects of the romance and more
modern psychologized play."
Which means that Helena is plenty
hot, but,.she's no ga-ga cutie, either,
and even if Bertram is a little -rough
on his women now and then, he still
knows what it's all about.
Maybe this thing won't be so bad
after all.
NEW WCIPT~b CHAMP

Education By
Radio Is Topic
Of E.J.Coltrane
Says Radio Fa s Short or
Purpose As Advertising
Monopolizes Programs
The possibilities of using the radi,
as a means of education have beet
fully demonstrated, according to Mr
Eugene J. Coltrane of the nationa
committee on education by radio
who spoke yesterday afternoon ar
University High School on "Radio a;
an Aid in Teaching."
There is a group which maintains
that one of the prime purposes o:
radio is to serve as a medium of
education, he said. "According ,
this school of thought radio is not
falling short of its proper use a
is existing chiefly as an advertisiw.
medium."
With the correction of this siu
tion in mind, the national committee
now has four definite objectives n
mind. First, they are working for i
improvement of radio progr
which are broadcasting into .
homes of the American people em 1
clay. Second, they are seekinu in
find the place of radio in the xii
program of education.
Third, they are serving as a clr
ing house of information for st
cities, and educational institut
wvhich desire to use radio in
programs of education. And fon:,l't
They are taking the offensive ii;
empting to develop radio broad
ng in the United States on a
oundation.
The experience with radio in do
cation is convincing, Mr. Col?
said. It has been used to advar '
n European countries, and in Gh ,
Wisconsin, and North Carolins is
phis country, as well as in numens
American city school systems.
"The Ohio School of the Air, now
3ompletmng its fifth year of suce s-
:ul operation supported by the a
and conducted under the auspi -.
of the state department of edu:a
-ion, has established itself and ha-
been able to make consistent pro
Tess despite the financial difficultes
of the period," he stated.
Radio is also useful as a mem
of informal education because it i
a great instrument for wholesom
entertainment, popular culture, and
popular information," he said.
Mr. Coltrane added that ."r'din
is probably destined to play i
greatest role in the field of aiu
education, since more than 20 si
are already using radio in their u
grams of extension teaching whi
are largely designed for adult poiu-
lation." It is easy to understman
how a state could readily develop, h
concluded, a program of adult ed
cation which would reach into e' c
home.

June Loans For R.F.C.
Total Nearly 120 Milhoi
WASHINGTON, July'31.-P)-The
Reconstruction Finance Corporation
eported to Congress today that dur-
.ng June it authorized loans aggre-
;ating almost $120,000,000.
The report showed 349 new ad-
vances during the month and a num-
ber of increases in previous loans.
Banks and trust companies re-
ceived $38,841,466, including $21,-
174,583 to aid in the reoiganization
or liquidation of closed banks.
There were loans of $1,823,911 to
building and loan associations; $1,-
689,185 to insurance companies; $49,-
842,643 to mortgage loan companies;
$50,000, to a credit union; $3,130,000
to joint land banks; $201,022 to agri-
cultural credit corporations; $17,315,-
175 rediscount to regional agricul-