Evening star. [volume], October 25, 1931, Page A-4, Image 4

About Evening star. [volume] (Washington, D.C.) 1854-1972

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A-4
MACDONALD WONT
TAKE FOREIGN POST
London Newspaper Declares
Premier Had U. S. Ambas
sadorship in Grasp. .
i
By th* AMoriated Fre*».
RE AH AM HARBOR, England, October
24. —Prime Minister Ramsay MacDon
ald denied to an audience of Durham
miners tonicht that he would take an
Important post overseas If he failed to
win his seat In the House of Commons.
The prime minister did not mention
the important post, but report* have
baen he was slated to be Viceroy of
India or ambassador at Washington.
Refused Position.
**l already have had the opportunity
es taking the position, but I did not
do so," Mr. MacDonald said. "What’s
the use of raising such issues to poison
your minds regarding the member from
Beabam who is going to be the mem
ber from Seaham again?”
The prime minister told his Seaham
constituents he was not going to be
run by any party. He said he would
inquire into the tariff question with an
open mind, but from a complete na
tional viewpoint rather than from a
party standpoint.
“If there Is any partisan maneuver
tag. then 1 am not their man,” he
declared.
The betting swung in Mr. MacDon
ald's favor in many Seaham districts
today.
REJECTED U. S. POST.
( .
Express Say* Premier Had Ambassador
ship Within Grasp.
LONDON. October 24 OP).— I The
Sunday Express, commenting on Prime
Minister MacDonald's refusal of an im
portant overseas pevst, said it was un
darstood he had the Washington am
bassadorship within his grasp.
In the event he ever becomes the
American ambassador or the Viceroy of
India, the Express says, he will be
raised to the peerage.
AMERICAN POILUS
HONORED BY PETAIN
Pgrshing Joins Marshal in Dedi
cating Plaque to Patriots’
Death.
By tha Associated Press.
NEW YORK, October 24.—French
man from America who died that “they
shall not pass!” were remembered today
by a general who led them In the battle.
He was Marshal Henri Petain, and he
was joined In the commemoration by
Oen. John J. Pershing, who com
manded the American Expeditionary
Forces In the World War. Together
they dedicated a plaque at Pier 67,
FTench Line.
The plaque wae the work of Paul
Oillot, New York Jeweler, and It bore
the names of the Frenchmen who
sailed from that pier to die in their
native land. OiUot, himself, was a
poilu and he served under Oen. Petain
at Verdun.
A reproduction of the gates and tow
els of the Verdun fort surmounts the
tablet, which will be placed in the
French Line waiting room.
A band from the French cruiser
Duqueene, which has come to take the
marshal back to France after hie official
welcome by the city Monday, and a
company or New York National Ouard
took part in the ceremony. Maxime
Mongendra French consul general,
made a brief speech to explain the oc
casion. The marshal was presented
with a gold medal by Joseph Donon,
president of the French War Veterans.
Ha then unveiled the plaque.
When the marshal and Oen. Persh
ing arrived in the city they were wel
ootned by the dipping of the battle col
ors of the Ist Division, which were
taken out of their casings for the ®rst
time since they were borne up Fifth
avenue when tha division returned from
France.
As ha left for the pier, Marshal Pe
tain remarked:
"At first my eyes could not accus
tom themselves to see buildings like
this. From my window I see astound
ing things.” This Is his first visit to
New York.
Marshal Petain represented his gov
ernment at the Yorktown Sesquicenten
ntal Celebration. He will visit West
Point with Gen. Pershing tomorrow.
MEMPHIS PAPERS
TO BE AUCTIONED
| Commercial Appeal and Evening
Appeal Will Be Sold to Highest
Bidder at Noon Monday.
By tha A*»oci*t*d Free*.
NASHVILLE. Tenn, October 34
Control of the Memphis Commercial
Appeal, Inc., which published the Com
mercial Appeal, one of the oldest morn
ing newspapers in the South, and the |
Memphis Evening Appeal, will be sold
to the highest cash bidder at noon
Monday.
By order of Chancellor James B.
Newman, the entire outstanding stock
of the organization, consisting of 20,000
preferred shares of SIOO par >alu* each,
and 150.000 shares of no par value com
mon, will be auctioned off in one block
at the offices of the Nashville Trust Co.
here.
The stock was pledged by Southern
Publishers. Inc., a holding company, to
secure $1,500,000 of its own bonds that
were sold to the Minnesota & Ontario
Paper Co. of Minneapolis. Interest on
the bonds having been in default since
May 1 last, the court directed fore
closure of the collateral.
Southern Publishers, Inc., controlled
by Col. Luke Lea, Nashville publisher,
and Rogers Caldwell, financier, was ,
placed in the hands of a receiver De- j
cember 23. 1930. While receivership j
proceedings were pending against j
Southern Publishers, Inc., the Memphis
Commercial Appeal. Inc., went into a
voluntary receivership December 12. j
This was lifted two months later, how- [
ever, the M. & O. Paper Co. having
given financial aid. Subsequently the j
M. Si O. went into the hands of re- !
•elvers at Minneapolis.
CHI OMEGA BODY MEETS
Xxecntire Board Holds Session at
Home of Treasurer.
An executive board meeting of the
Washington City Alumnae Chapter of
the Chi Omega Fraternity was held
Thursday night at the home of Mrs.
ihn Free, 4122 Eighth street.
Officers of the organization are Mrs j
George Heine, president; Mrs. Charles
A. Burmelster, vice president; Mrs.
Eleanors Henderson, secretary, and
Mrs. Free, treasurer. Mrs. Charles
Shelton. Mias Mary Cramer, Miss Vir
ginia Dledel, Mias Helen Lupton, Mrs.
Robert Bernes. Miss Oenevleve Thomas
and Mrs. William Eichner are team
captains.
Porto Rico expects such a demand
fat straw hats from America that new
to be opened there.
j Josee Laval Has Good Day
MISSES GRID GAME, BUT RIDES If* PARK.
r' I ' - *■■■■■■■■■■
m .
HBfSL ««dr H p IBP
jQI - .. . !*' Vi
Mile. Josee Laval with her friend, Mme. Raymond Patenotre (left).
—Underwood Photo.
BY BESS FURMAN,
MLLE. Josee Lavel, the French
premier’s daughter, saw Amer
ica yesterday to suit her own
chance whims—all because o.
a missed train.
She was to have gone with Mile.
Heine Claudel, the French Ambassa
dor’s daughter, to Princeton to see the
Princeton-Navy foot ball game, but she
delayed too long at translating for her
father and President Hoover before the
sound cameras.
So she rode through Rock Creek
Park with her pretty, petite French
friend, Mme. Raymond Patenotre; had
a lingering lunch at the Mayflower
Hotel; took in a catch-as-catch-can
movie matinee, and went dashing down
to Union Station to see Mme. Patenotre
off for Philadelphia.
They had to run the full length of
the platform to catch the Philadelphia
train, and when at last Josee stood all
alone, waving her friend a last farewell,
she said:
**l had Good Day.”
"Disappointed at not seeing Prince
ton play? Yes. but I had a good day!”
No motorcycle escort cleared the way
for Mile. Laval and her friend, but at
times they dashed through Saturday
afternoon traffic at sixty-some miles
an hour, cramming a lot of living into
a carefree afternoon.
They whirled through the sun-shot
autumnal glory of Rocky Creek’s rustic
roads, and saw small boys fishing and
little girls at play on the Saturday holi
day. They splashed through three
fords. _
At lunch Josee taught Mme. Paten
otre to drink clam juice from the shell,
with lemon. To please an Italian cap
tain of waiters, they ate ravioli. They
drank coffee while their embassy escorts
smoked.
Josee Wat Very Jolly.
Jooee was very Jolly. Her brown
eyes had a holiday shine. They matched
also brown checks of her cleverly cut
sport suit and the brown of her hat,
flung-atlde fur, belt, pumps and gaunt
let gloves. Her unringed fingers, with
very pink nails, played gracefully over
the table.
At the movies, first row balcony box so
close to the stage the pictures had that
one-sided effect, they put their heads
together and giggled at long-limbed
Charlotte Greenwood’s gaucherles and
at Eddie Cantor’s rolling eyes. They
got In almost at the last of the feature,
and didn’t see the middle. Tense mo
ments saw Josee leaning forward, her
hands gripping at the rail.
Hear President Speak.
Below them the crowd, laughing, \
clapping together. From the screen
President Hoover spoke at Yorktown I
and the late Knute Rockne told how i
foot ball was played, with slow-motion |
illustration. They heard the tin-pan
rhythm of that inevitable American
sonnet, "Happy Days Are Here Again.”
"Your cares—and troubles —all —are
—gone.
"There'll—be—no—more—ore—from
—now —on ”
Which was what Joaee’a father came
to talk about.
Very different was her theater box
from the one she’d have occupied at
Princeton. It contained one Saturday
shopper loaded with large sacks, one
Whatto'PutUp”
What to “put up’* for borrowed
money may be a troublesome
problem
until
You observe that you may borrow
at The Morris Plan Bank “on a
promise.**
And the promise of The Morris
Plan borrower is kept the easier
because we have given him an
orderly and organized method
of paying back what he borrows.
Come In
I
Norris Plan Bank
Under Supervision U. S. Treasury
Loaning Hundreds to Thousands
IsSßSai Capital and Surplus, $250,000 |
| 7.• ■ •• ; ' * • • f ' ’"** \ * ; •
THE STTXDAY STAR. WASHINGTON. D. C.. OCTOBER 25. 1031—PAKT ONE.
roustabout boy in nondescript pants
and sweater, one middle-class mother
with two little daughters and one very
tired—or very discouraged splnsterlsh
looklng person who sat right beside
Josee —but she didn’t know her—or
scarcely even saw her. With her hat
in her lap, her head crooked Into the
bend of the division rail, she slept.
DINOIAIIDUE
IN BERLIN TODAY
“Vagabond Diplomacy” Will
Undergo Test In Talk
With Bruening.
By th* Associated Press.
BERLIN, October 24.—Europe’s new
institution of "vagabond diplomacy”
will undergo another practical test
when Foreign Minister Dtno Grandi,
serving as Premier Mussolini’s personal
representative, arrives here tomorrow
for a two-day conference with Chan
cellor Heinrich Bruening.
As In the previous meetings of Ger
man statesmen with the chiefs of other
governments, the world economic crisis,
reparations, war debts and disarmament
will be the principal topics of discus
sion.
Judging from the comments of both
Italian and Oerman newspapers, Dr.
Bruening and Signor Grandi fully
realize their meeting occurs In the
shadow of a more important confer
ence—the discussions between President
Hoover and Premier Laval of France.
At the same time the Italian foreign
minister and the chancellor have va
rious problems of mutual interest to
tackle which need not await the result
of the Washington conversations.
This applies especially to various
tariff questions. In the opinion of some
observers there is likely to emerge an
agreement to establish an Italo-German
Economic Committee similar to that
appointed for the Advancement of
Franco-German Relations.
Another subject on which concrete
results are expected Is joint action to
ward world disarmament at the Geneva
conference next February.
Signor Grandl's proposal to the
League of Nations of a one-year arma
! ment holiday received warm comment
in Germany. When Dr. Bruening and
I former Foreign Minister Julius Curtius
visied Rome last Summer there was no
problem on which the Italians and
Germans agreed more easily than on
the desire of both to see the world re
lieved of its armament burden.
Tomorrow noon Signor Grandi will
be a luncheon guests of Bernhard von
Buelow, undersecretary for foreign af
fairs. In the afternoon there will be a
reception to the Italian colony at the
Hotel Esplande, and in the evening the
Grandi party will attend a gala dinner
at the chancellor’s palace.
IHOOVER AND LAVAL
; REACH AGREEMENT!
Details of Accord to Be
Made Public Early
This Morning.
(Continued From First Page.)
vised, had subsided somewhat by last
night.
Senator Borah and M. Laval met at
dinner at the residence of Secretary
Stimson of the State Department and
conferred at considerable length priv
ately but through an Interpreter in
Secretary Stimson’s study.
Before going to the dinner the
French prime minister in a conference
with the press said:
“You ask me my opinion of the Inter
view given by Senator Borah. I wish
to avoid any misunderstanding and all
polemics. The position of France with
respect to It* right to reparations and
with regard to security has been so
often and so excellently described that
I do not consider it necessary or ad
visable to state it here. But each time
that the true basis of our rights in this
respect are recognized I can only de
clare myself pleased. It is only that
part of Senator Borah's statement that
I can indorse.”
The prime minister made It clear in
' this way that all talk of modification of
the Versailles treaty, as proposed by
Senator Borah, did not meet his ap
proval. He Indicated that he had not
corr.e to the United States to discuss
th* revision qf the treaty. His approval
of the Borah interview went only to
the recognition by Senator Borah that
it* was the right of France to determine
what steps she should take for her own
security and the recognition that Ger
many as a matter of Justice should pay
for the actual damages caused by Ger
man armies in the devastated areas of
France and Belgium. Senator Borah
also declared that he favored the wiping
out of reparations and intergovern
mental war debts.
Reiterate* Opposition.
The prime minister made it clear that
he looked forward with pleasure to
meeting Senator Borah at dinner and
discussing with him various problems
affecting the two countries.
In a brief statement to the press the
chairman of the Foreign Relations Com
mittee also expressed his desire to talk
with M. Laval. At the same time Sena
tor Borah reiterated his opposition to
any security pact involving the United
States and calling upon this country
to come to the aid of any other nation
In the event of attack. He said:
"I feel that we ought to be entirely
candid with France about a security
pact, for nothing of that kind Is pos
sible. I feel sure the American people
would not approve It.”
The President’s statement to the press
at the White House yesterday after
noon, after he had expressed his pleas
ure at the presence of the French cor
respondents in Washington, follows:
"The president of the Council of Min
isters of France has done us great honor
In coming to our country, especially so
in these times of grave responsibilities.
I am confident that his visit will be
profitable In results for the future.
Suffer From Froxen Confidence.
"1 need not repeat that the purpose
of our conversations has been to find
fields from which contribution can be
made to enlargement of confidence in 1
the relations between nations and in :
the economic world. I have on some
occasions stated that the world is suf
fering more from frozen confidence
than from frozen securities.
"The press plays a major part in the
development of the good will on which
such confidence must rest by its search
for fields in which co-operation and
constructive action can be evolved. I
trust that you of the French press may
carry away with you pleasant recollec
tions of your visit and that you will
realize the good will and friendliness of
the Ameircan people.”
Premier Laval said that the spirit
of the conversations between himself
and President Hoover had been fine
and that there had been the greatest
franknss in the disciission of the prob
lems. All questions, he said, had been
considered at length. The agreement
as drawn up by them would be made
public, he said, after he had seen the
President at 10:30 o’clock this morn
ing. Already, he said, they were in full
accord. He expressed his thanks to
th* press for the manner In which It
had treated him since his arrival in
America.
Rhinoceros Upkeep High.
The most expensive animal In zoos or
menageries is the Indian rhinoceros. |
The difficulty in capturing this deni- !
zen of the Jungles and then keeping It j
alive makes it cost from SIB,OOO to,
$20,000. 1
Woodley Worsteds
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another popular price I^7
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average suit offered at a popular / I \ All I
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ooking for in Schloss Woodley I Xv/ l/\
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the tailoring, or the price, but the | / J
combination of all three that makes J
Woodley Worsteds “what the j
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will be glad to show you that un- J\ \
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With the new Celaneae Trim / y
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Two Trousers 1
1331 f st. MEVERC 1331 f gj
JMEN S SHOP Inc
Cocktails Served
To Correspondent#
At French Embassy
By th* As*orUt*d Pres*.
That outlawed American ges
ture of hospitality, the extended
cocktail, was preferred today to
news writers of France and the
United States by Ambassador and
Mme. Claudel.
In the handsome embassy that
stands on soil theoretically
French, therefore immune to pro
hibition. the genial poet-diplomat
and his lady received the scores
of reporters who have been send
ing out word of the visit of Pre
mier Pierre Laval and his party.
GERMANS ELATED
BY BORAffS STAND
Senator’s Plans io Solve Eco
nomic Evils Win Strong
Praise*
By th* Associated Press.
BERLIN, October' 24. Satisfaction
with Benator Borah’s statement at
Washington advocating revision of the
Versailles treaty, with cancellation of
reparations payments and war debts, was
indicated in the headline* of German
newspapers today.
The degree of satisfaction varied
with party views and reached its peak
in the Rightist press.
Sees Mask Torn Off.
"Borah rips mask off France’* faoe,”
said the headline in the Nationalist pa- j
per. Reichsbote.
“A frost fell one Spring night,” was
the figurative comment of the ultra- i
Nationalist Kreuzzeitung.
The Vosszeitung, Liberal paper, said :
"Borah takes the supreme step” and
the Tempo's headline was “United
States Attacks Versailles Treaty.”
The Deutsche Allgemeine Zeitung,
industrialist organ, praised Senator
Borah, declaring he had set forth in
plain language the reason for the pres
ent world conditions.
“Senator Borah put his finger on the
wound that is keeping the world
chronically sick,” the newspaper said.
"He made it his task to advance the
idea of revision of the Versailles treaty,
neither to please Germany nor to harm
France. b’|t as a good American citi
zen. feeing his responsibility for the
fate of his|country.”
NEW ATTITUDE HAILED!
French Writer Says Borah’s Opposition
to Treaty Modified.
PARIS, October 24 (/P).—The French
press saw a change of attitude on the
part of Senator Borah In its comment
today on his demand for revision of the
Versailles treaty.
Le Temps said that the Senator had
changed his views in that he now
asked, not suppression, but "adapta
tion'’ cf the Versailles treaty, recog
nizing special rights of France and
Belgium growing out of the war’s dev
astation in those countries.
The newspaper added he also appar
ently had changed his attitude toward
French disarmament.
Journal des Debats, Conservative
organ, said the Senator’s statement
should not be a cause of surprise as
his beliefs were the same as those long
known to have been held by a majority
of Americans.
"If Laval went to the United States
ignorant of this fact he wa* very im
prudent,” the newspaper commented.
. DENOUNCED IN POLAND.
Senator Borah Called German Agent
by Indignant Pres*.
WARSAW, Poland, October 24 ((P). —
Senator Borah was termed a "German
Senator" by an Indignant Polish press
today as a result of his statement sug
gesting revision of the Versailles treaty.
His action was called the "shameful
step of Senator Borah, a German
agent,” and a “satanic German intrigue
against France, Poland and Czecho
slovakia, organized by American pro-
Germans.”
The Kurjer Czerwony, government
newspaper, said it thought President
Hoover had been "painfully compro
mised.”
Children’s Books Hit.
NEW YORK (N.A.N.A.). —A child
: study association has just declared that
! out of the 800 children’s books printed
I in the past more than 500 were "of
I only passing literary quality.”
I (Copyright, 1931. by the North American
Newspaper Alliance. Inc.)
POLITICAL TALKS
WITH LAVAL FAIL
. i
Friday Interview at White
House Described—Pre
mier “Freezes/’
(Con tin tied Prom First. Page.)
and economic angle. As it wh offi
cially Indicated before, neither of them
expected any positive results from this
meeting. But it is frankly stated
| neither of the men expected to see v.he
! French and the American point of
: view so wide apart as it appeared at
the Friday night meeting.
First Question Unfortunate.
It is possible that the opening ques
tion was not very fortunate. The Pres
ident wanted to know whether tha
French government would be agreeable
to considering the revision of the Ver
sailles treaty In regard to the Dantdg
Corridor. He explained to the French
premier that Germany was stifling and,
since she is the principal debtor nation,
it might be a good idea if France would
see fit to relieve the situation by agree
ing to the revision of the Versailles
treaty to mend a state of affairs which
is one of the principal causes of the
present political restlessness In Europe.
Premier Laval was believed here to
be favorable to such a revision. Amer
ican reports from Paris have been sav
-1 ing this for the last four months. It
may be that M. Laval Is, at the bottom >
of his heart, favorable to the retro- )
lesion of the Dantxig Corridor to Ger- f
i*ny. but President Hoover had to deal
in Washington with M. Laval as presl- I
dent of the French Council of Ministers I
and as such the French premier could
not agree even to listen to such a
proposition.
M. Laval froze at once.
He answered that he was not here to
talk the question of the revision of any
treaty and Immediately changed the
conversation.
The talk then drifted toward the
question of disarmament and pacts.
The French premier wanted to know
! under what conditions the United
States would be prepared to take a
more definite part in Europe's affairs.
It was the President’s turn to freest.
U. S. Attitude Unchanged.
He answered that the attitude of the
United States had not changed in re
j gard to her participation in world
affairs; that this country has the firm
desire to help preserve the world's
I peace and it has proved this repeatedly
I since the signature of the Kellogg-
Brland pact. But outside that, this ad
ministration could and would not con
sider engaging the United States In
any definite agreement, not even In an
apparently inocuous consultative pact.
The French premier had been warned
that he would find It difficult to in
duce President Hoover to change his
attitude toward security or consultative
pacts, but he in turn had been led to
think that because Secretary Stimson
had been flirting with the consultative
pact idea, the President of the United
States might be won over to that idea
too. Mr. Hoover eased his mind mi that
subject.
The subject of disarmament Is said
to have occupied a good deal of Mr.
Hoover's and M. Laval’s time. The
French premier explained again at
length the French position on that
matter. A further reduction of France’s
armies under the present conditions
and without America’s promise that
she would at least consult with other
nations in case of a conflict, is totally
impossible. Neither the French cabinet
nor the French Parliament would ever
agree to any further reductions. M.
Laval naturally explained to the Presi
dent that Prance will do all she can to
further the idea of disarmament and
would raise no obstacles to the coming
Geneva Conference: but France is de
termined to maintain the army her
leaders think necessary to guarantee
her security and the integrity of her
territory.
Naval Pact Discussed.
As a last political question, President
Hoover brought up the question of
France joining in the three power naval
treaty. He pointed out the dangers
and the futility of the present Italo-
French naval rivalry and urged the
French premier to do all in his power
to Join the British, Japanese and
Public Health Talks
Sundays, 3 P.M.
Medical Society Building
1718 M Street N.W.
Oct. 25—“ Infantile Paralysis”
Nov. B—“ Mental Health”
Nov. 22—“ When Winter Cornea”,
Dec. 6—/‘Physical Fitness at 50” i
ADMISSION IS FREE ]
American nations in the London naral
pact.
M. Laval is said to have promised to
consider this question. He seemed to {
have been somewhat unprepared to
discuss the matter and wanted to con- I
suit his naval experts in Paris before 1
he could consider taking any action. :
There was a possibility of Prance Join
ing in tHe three power treaty if she is
allowed the same escalator clause as
Great Britain That 1s to say. in case
the present six-to-four ratio between
Prance and Italy i* exceeded by the
latter power. France claims the right
to increase her naval construction.
In spite, of this apparent failure of
the Laval-Hoover political conversation,
it is considered here that the Prench
premier's visit has not been in vain. No :
agreement was reached yesterday, but
who knows whether some time in the
neat future a new basis for co-operation
will not be found? The leaders of the
two nations have had now ample op
portunity to know each other. They
know now from nrst-hand Information
what their troubles are and in which
way they might mitigate future politi
cal difficulties to the reciprocal advan
tages of their countries. If some new
precarious situation arises In the hear
future, as was the case last Summer,
long conversations will not be necessary.
•Hiey know how each feels and what
each of them can and will do. Conse
quently, in the event of a new crisis,
tney will be able to act without the
delay which almoat wrecked Hoover's
debt holiday last July.
Agra* an Young Plan.
Both the President and M. Laval
agreed that it would be difficult to ex
tend the present debt holiday which ex
pires June 30. 1932. Since the working
of the Young plan had been upset by
the Hoover intergovernmental debt holi
day, the French premier thought that
It would be right for the United Btates
not to oppose the summoning of a com- ]
mission of experts to examine Oer
? many’s capacity to pay as provided in
I the agreement signed by all the in-
Jterested nations at The Hague In 1928.
j The President is reported to have as
sured M. Laval that there will be no
objection on the part of the United i
State* to set in motion the machinery
of the Young plan at the end of this
year's holiday, and a complete agree
ment on this subject is reported to nave
been reached.
BORAH AND LAVAL
REMAIN DISAGREED
IN WOODLEY TALK
(Continued From First Page.)
of opinion, the French prime minister
continued to press his plans for a con
ference with Senator Borah. It does
not appear however, that there la any
likelihood of hteir reaching an agree
ment on any of these political issuea.
It is believed that Prealdent Hoover
takes the same view aa Senator Borah
on many of these issues. If the French
prime minister came to this country
hoping for some agreement for a con
sultative pact between th# United
States and France, hie mind has been
disabused of this Idea, both in his con
ference with Senator Borah, and with
the President.
Stinson Dinner Gueets.
The guests at the dinner given by
Secretary stimson In honor of M. Laval
last night were:
His excellency the Ambassador of
the French Republic, Albert BulaWn,
Charles Rist, Adeodart Boissard, JWes
Basdevant, Jacques Blaot, Louis Aubert,
Jacques Rueff, the Secretary of the
Treasury, Senator William £. Borah,
senator David A. Reed, Representative
J. Charles Linthicum. Ogden Mills,
William R. Castle, jr.; Henry P.
Fletcher, Eugene Meyer, James Grafton
Rogers. George L. Harrison, J. Theo
dore Marrlner, Allen T. Riots, Her
bert and Pierre de L. Boal.
Premier Laval Is to be the guest of
honor at a luncheon today given by
Secretary of Commerce Lamont. In
the afternoon he will be accorded a
reception by the National Press Club,
and tonight he is to dine at the French
embassy. It is his plan to leave Wash
ington at 1 o’clock tonight to go to
New York preparatory for sailing for
France.
Rumania has a shortage of feature
motion pictures.
/EUGENIE \
Couldn’t Keep m>
Up With You it
Shoes meant little to the dell
cate creatures who "sat it out" ■ jpt w wlhW*K?
all day long. Nona of your - \yi
shopping - to - luncheon - to - Ls#
bridge -to - tea -to - dinner- iT f bUBt >V^
to-the-movie days. Their feet /T fllu^r^X
couldn’t have stood that. They I llli
didn’t have Walk-Overs with vU
the shock - absorbing Main
strap either
black or tan ealfskln with
the Main Sprint Arch.
929 F Streep /
—i|~Philco W—k! |
i Delivers any
PHILCO RADIO
Mis weest on/j//
Until Saturday’s storing you
can taka your choice of any -S
PHILCO RADIO model in our H
stock on a DOWN PAYMENT MIIJ
of ONE DOLLAR!
Balancm an Jmrdan’t Famotm
Budgmt Plan lilTTrl
ARTHUR HUU
JORDAN |f*l(
PIANOCOMPANY 14, II
n39!cystTdKl3» 1 fi
GOLD INFLUX HELD
ECONOMIC EFFECI
j
Study Denies Flow Is Cause
of World Difficulties in
Trade Depression.
By the A«*ocUted Press.
NEW YORK, October 34 —That the •
flow of gold to the United States and
France was the result and not th*
cause of the world’s economic difficul
ties is the argument set forth by th#
National Industrial Conference Board in
a study entitled “Major Force* of
World Business Depression.’* publish*-,
today.
The Conference Board contends that
business depression in Argentina. Brasil.
Australia and Japan, for example, pre
ceded and did not follow the export
of gold on a large scale; that ao far
as the principal countries of Europe are
concerned—Great Britain, Belgium.
Switzerland, the Netherlands. Sweden,
Denmark. Czechoslovakia and Austria—
their holdings of gold in June. 1931,
were as large as, or larger than, at
the end of 1929, In spite of the absorp
tion of gold by the United States and
France. The great loss of gold by Ger
many was due to political rather than
economic causes, It is claimed.
French Lending Leas Now.
The flow of gold to France and the
United States, it is held, was due to the
large net income which these two coun
tries receive each year from foreign
' countries in the settlement of trade and
financial balances. It is explained that
before the war Franc# employed th#
i surpluses In its balance of payment*
mainly for long-term investment in for
eign countries and only to a small ex
tent for the accumulation of gold.
After the war, however, the confer
ence board’s study states. Franc*
failed to resume its policy of lending
abroad. This was due mainly . the
bitter experience of French ir estora
with foreign bonds. In 1931 France
extended long-term loans to Its Euro
pean allies, but resumption of lame
foreign financing. It is found, will (g
determined by considerations of politi
cal stability of the debtor countries.
BrtUeh Finance Weekses.
The position of th* United Stats;
is seen as somewhat similar to that
of France in that no matter how de
sirable it may be to aid debtor coun
tries by means of long-term loans, la
practice it Is impossible to float foreign
securities as long ae the investor doer
not have a feeling of confidence in the
political and economic stability of the
countries requiring his financial sup
port.
“The weakening of Great Britain*
financial power places an extremely
heavy responsibility on the United
States and France,” says the conference
board. “While it is not certain that
Britain will not recover its pre-war
economic strength, it is doubtful that,
at least In the near future, the London
market will be as Important a factor
M before the wir
“France, and particularly the United
States, because of their great econoaait
strength and favorable balances of pay
ments, must be prepared to make such
changes in their economic policy a*
will enable them to occupy the place
Mutt formerly was held by Great
Britain alone.”
CERRO WINS IN PERU
Provisional Head Ourted by Rebels,
Osins Vote for Return,
_ UK*. Peru, October 24 C/P).—Luis M.
Sanches Oerro, who was provisional
of Peru from August, 1930.
until he was ousted by rebels last
March, appears to have won th* presi
dential election, which will give him
another term.
Unofficial but virtually complete re
turns show that ha obtained more than
the 35 per cent of th* total vote mow
sary to election.