Evening star. [volume], October 22, 1934, Page A-4, Image 4

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

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FRAZIER-LEMKE
UWJSASSAILED
Counsel for Montana Group
Hits Act in Address to
Bankers.
(Continued From First Page.)
policyholders' money that would be
Jeopardized by the law.
Cites Insurance Failures.
"The Missouri State Life failed the
other day,' Brown continueo. "We
thought it was great and impregnable
and that nothing could touch It. So
have failed half a dozen Insurance
companies that attempted to start in
the Middle West with the great idea
of keeping the money at home and of
putting it into farm loans. These
failures were due to the failure of
the farm mortgages of this country to
pay their fixed obligations. Then
In the face of this warning along
comes this political basket ball tossing
and the shout 'we will go a step
lurther and reduce the lien and de
stroy the security.' "
While friends of the measure have ι
aaid that it is only good for five years, |
the speaker said that President
Roosevelt has spoken of it as "in I
•orne respects loosely worded and will !
require amendment at the next ses- 1
•ion of Congress."
"So says the President," he said.
"In other words, the principle has got
its toes in the constitutional door of
protection of your home and your
contracts and your liberty to hold it
open and let the mob in to make po
litical panaceas in disregard of prin
ciples that have stood for centuries."
Are Not Money Changers.
Calling to mind the President's ref
erence in his inaugural address to
driving money changers from the tem
ple. he said, "If we destroy the faith
and credit of the debtor and creditor
policies and promises in a nation as
great as ours with political subte.
iuge and new-found ideas of emer
gency laws and set aside the Consti
tution because we think times are
tougher than those of the Revolution,
the money changers may indeed be
driven from the great temple. But
I hold that the bankers, the trust
companies, who have protected widows
and orphans who have used the in
lurance monies to live comfortably and
to see their sons and daughters edu
cated, who have furnished funds for
industry, the investor, the plain
American citizen, all on American
credit and American protective con
tracts are not money changers."
Loan Policies Defended.
Hanes, who preceded Brown on the
program, defended bank loaning poli
cies. as did Clyde Hendrix, president
of the Tennessee Valley Bank of De
catur, Ala.
Contrary to frequent charges that
banks are reluctant to do their part
toward recovery oy making more loans.
Hendrix asserted banks everywhere
were burdened with idle funds seek
ing legitimate investment and were
actually eager to make loans, "not
only to be of service to their custom
ers, but as a means of creating reve
nues with which to meet operating
expenses."
Notable among the eight-point pro
gram for the State Bank Division to
work toward, Hendrix. the retiring
president of the division, said that an
effort was being made to bring about
a further amendment to the banking
r\f 1 Q Q *? Thic QTYipnWmont Vif» ov.
plained, would modify it so as not to
require non-member State banks to
become members ol the Federal Re
serve System in order to continue
their deposit insurance: "and, if pos
sible. limit assessments to a fixed
maximum within the ability of banks
to pay." He urged also "that we
continue to fight aggressively for the
preservation of the State banking sys
tem as against any form of bureau
cratic centralization."
Discusses Branch Banking.
Characterizing branch banking as
ft system of "having bigger bank fail
ures," Clinton B. Axford, editor of the
American Banker. New York City,
speaking before the division, warned
that "the people of the United States
are going to take branch banking
In the name of reform if State and
unit bankers do not give them some
thing better."
"Let us cite the fact," he said,
"that the banking holiday in 1933
found 17 of the first 200 banks in
the United States unable to reopen
and of the branch banking systems
in the United States, 19 were unable
to reopen and they carried down with
them 494 branches."
The only thing which saved the big
British branch banks from a similar
collapse in 1931, he said, was the fact
that England suspended gold pay
ments and that we relieved our banks
by the same method when they re
opened after the holiday. Canadian
banks, he pointed out, have not been
paying in gold since 1930.
Cook Delivers Address.
This afternoon's sessions of the Na
tional Eank Division were called to
order by Irving W. Cook, president of
the division, who delivered his annual
address. A. G. Kahn. president of
Union National Bank, of Little Rock,
Ark., discussed "Know Your Costs."
and Frank P. Bennett, jr., editor of
the United States Investor, of Boston,
Mass., discussed "Who Should Handle
Reserves of National Banks."
Following the general convention
aession tomorrow morning at the Na
tional Theater, the Trust Division will
hold its annual meeting tomorrow
afternoon at the Willard Hotel, called
to order by the division president,
H. O. Edmonds.
Hijh Officials to Speak.
In addition to the President, other
high Government officials will address
the bankers. Leo T. Crowley, chair
man of the Federal Deposit Insur
ance Corp., will speak tomorrow
morning on the present and fu
ture of that agency, which was orig
inally opposed by many of the bank
ers
Another speaker on Wednesday will
be Jesse Jones, chairman of the Re
construction Corp., whose activi
ties are intimately related with those
of the banks. J. H. Ardrey, deputy
administrator of the Housing Admin
istration. will talk about his work
Thursday.
Election of the association's officers
for next year probably will find Ru
dolf S Hecht of New Orleans, first
vice president, succeeding to the pres
idency, now held by Francis M. Law
of Houston, Tex. Robert V. Fleming,
president of Rtggs Bank. Is likely to
become first vice president.
Law today forecast an intensive
campaign to "put bank reserves to
work," and predicted the bankers
would cast aside their own "selfish
interests" to concentrate upon pro
moting the recovery program by "re
moving timidity and fear."
Must Put Money to Work.
"This will be the most important
convention we ever held, and we've
been having them for 60 years," he
aald. "It will be worth more to the
country. We're going to try to be
constructive.
"The delegates are all of one ac
cord In their desire to be Just as
helpful as they can in the movement
to get the country back on a sound
business basis.
"We all believe we re going to have
recovery. Conditions throughout the
world are getting better. It will not
be a case of any one Nation emerging
alone. We're coming out of the de
pression together. Bankers are go
ing steadily ahead and planning for
the future on that basis.
"Our banks are in excellent condi
tion. Reserves are large and the sup
ply of credit is abundant. We have
plenty of money. The need of the
moment Is to put It to work."
- *
Men and Women Bank Leaders Attending Conventions Here
Francis Marion Lato, president of the
American Bankers' Association,
left, talking over problems of the conven
tion with F. N. Shepherd, executive manager,
and Harold Stonier, educational director.
At right: Miss Agnes M. Kenny,
president of the Association of Bank
Women, addressing the twelfth annual convention
at the Mayflower Hotel.
Sitting beside her is Miss S. Winifred Burwell,
chairman of the General Convention
Committee, who made the opening address.
—Star Staff Photos.
WOMEN BANKERS'
WORK DESCRIBED
Opening Session Marked by
Emphasis Upon Need of
Education.
The importance of the financial |
education of women bank employe»
to be obtained through the courses
of the American Institute of Banking
was stressed this morning by officials
of the Association of Bank Women,
which opened its convention here at
the Mayflower Hotel.
Reports were heard this morning
from 14 officials representing the
seven geographical divisions of the
association. Regional vice presidents
reviewed the past year's work. They |
were Miss Susan B. Sturgin, Boston, j
Mass., representing the New England
division; Henriette J. Fuchs. New
York, Middle Atlantic division; Miss
Mary Travers, Chicago, Lake Shore
division; Miss Mathilde M. Woltjen.
St. Louis, Mo., Midwestern division;
Miss Nora Kirch, Louisville, Ky..
Southern division; Miss Leo ta. Branum,
Dallas, Tex., Southwestern division.
and Mrs. M. Ε. Bonham, Riverdaie,
Calif.. Western division.
Seven Speak on Program.
Relations between banks and the
public were discussed by other speak
ers representing the seven divisions.
They were Miss Ethel T. Tammons,
West Newton, Mass.; Miss Anne H.
Saddler, New York City; Miss Ethel
Groves, Quincy, 111.; Miss Mary P.
Doyle, Omaha, Nebr.; Miss Kirch,
Mrs. Berneece F. Brooks. Bastrop,
Tex., and Miss Mildred Roberts, Loe
Angeles, Calif.
This afternoon the 100 delegates at
tending the convention will be re
ceived at tea by Mrs. Roosevelt at the
White House.
Secretary of Labor Perkins was
scheduled to speak at a buffet supper
this evening. Her subject will be
"Social Plans in Our Economic Read
justment."
The convention of the woman bank
ers is being held In conjunction with
the meeting of the American Bankers"
Association. It will continue through
Wednesday afternoon.
Other prominent speakers scheduled
include Mrs. Roosevelt and Sir Will
mott Lewis, Washington correspondent
for the London Times.
COURT JURYLESS 5 DAYS
Record Established in Kent
County, Md., Circuit Tribunal.
CHESTERTOWN, Md., October 22
(Special).—What is believed to be a
record in Kent County Circuit Court
was set last week when the court sat
from Monday to Friday without a
case being heard before a jury. All
cases were heard by the court, pre
sided over by Judge T. J. Keating.
Judge J. Owen Knotts was also on the
bench. The court will resume sit
tings next Tuesday.
A clean bill of health was given the
county jail, conducted by Sheriff John
T. Vickers, by the Grand Jury, of
which Clarence Newsome of Better
ton was foreman. This in spite of the
fact that the Maryland director of
welfare. S. Stuart Janney. asserted in
a recent report that few if any of the
Eastern Shore jails were up to par.
·
GRANGE ELECTION HELD
A. H. Roberts Chosen Master at
Mt. Vernon, Va., Meeting:.
Special Dispatch to The Star.
MOUNT VERNON. Va., October
22.—The following officers were elect
ed at a meeting of the Mount Vernon
Grange: A. H. Roberts, master: Her
bert Baker, overseer: Mrs. J. W. Cox,
lecturer; Walter Dinsmore, steward;
Stephen Taylor, assistant steward:
Kenneth Baker, chaplain; George C.
Gillingham, treasurer; Margaret Wil
liams, secretary; Alec Williams, gate
keeper; Mary Gillinghtm, ceres; Mrs.
F. H. Sheeler. pomona: Dorothy
Smith, flora, and M. J. Collins, execu
tive officer.
Czech Minister May Get Post
Of Foreign Secretary Benes
Constitutional Change
May Make Latter
Vice President.
Veverka Is Expected to
Be Elevated by Re
shuffling.
BY CONSTANTINE BROWN.
Reports from Prague Indicate that
In the new reshuffling of the Czecho
slovak Government planned by Pres
ident Masaryk, Ferdinand Veverka,
Czechoslovak Minister at Washing
ton, at present on leave in his coun
try, will become foreign secretary, re
placing Edouird Benes, who will be
come vice president of the republic
According to these report», Presi
dent Masaryk. who is 84 years old,
feels the responsibility of guiding the
republic in these troubled times is too
great.
He was re-elected President last
May for seven years. The Czecho
slovak constitution does not provide
for the office of a vice president.
But Masarvk worried lest a new
election should be necessary In case
something happened to him before
the expiration of his term of office, in
1941, is asking the Czechoslovak Par
liament to amend the constitution
and create the position of vice presl
ASSASSINATIONS HUNT
CENTERED ON WOMAN
French Police Believe "Blond Ma
ria" Had Important Part in
Planning Crime.
By the Associated Press.
PARIS, October 22.—With most of
the members of the terrorist band
believed responsible for the Marseille
assassinations under arrest, the
French Burete Nationale today con
centrated on a search for the "blond
Maria" supposed to have had an im
portant part in preparing for the
crime.
Detectives investigated the activi
ties of a Maria von Draceck. She
formerly lived near Lens, France, and
later went to Czechoslovakia, becom
ing engaged to a Yugoslav citizen
there.
Police attach importance to the ar
rest at Liege of Entienne Paric. They
suspected him of being one of the
chief lieutenants of the gang leader.
#
Sheet Glass to Be Made.
Manufacture of sheet glas* Is to be
introduced into Chile.
ι
Bankers' Program.
TOMORROW.
(National Theater.)
9:45 a.m.—Music.
10:00 a.m.—Call to order—Presi
dent Francis Marion Law.
Invocation—Rev. Oliver J. Hart,
rector of St. John's Episcopal
Church.
Address of the president.
Report—Official acts and pro
ceedings of Executive Council.
Appointment of Resolutions Com
mittee.
"Deposit Insurance as an Aid to
Banking"—Leo T. Crowley,
chairman. Federal Deposit In
surance Corp.
Communications.
Announcements.
Adjournment.
GROUP MEETINGS.
(Willard Hotel.)
8:00 a.m.—Agricultural Commis
mlsslon breakfast conference.
2:00 p.m.—Clearing House Round
Table Conference.
2:00 p.m.—Trust, division.
3:30 p.m.—Constructive Customer
Relations Clinic.
5:00 p.m.—Nominating Commit
tee.
6:30 p.m.—State bank division
officers and State bank com
missioners.
Moineau!
NEW BONE CONDUCTION
Mi··» kw iMt nlwK
I·· «M h mu ta
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Til
•HI EFFECTIVE MEAttRC AI», VtlRC
MTI All «II M*t CmOCTI··. THAT
ZctifTICAL IEsTaKN HAS fMltal."
ETZ—1217 G
*
FERDINAND VEVERKA.
—Harris-Ewing Photo.
dent, to succeed the President in case
that office becomes vacant.
The Parliament will have to pass
on Masaryk's request some time dur- ,
ing this month.
snouia tne omce or vice presicent
be created, and every Indication Is
that It will. Benes will become vice
president and the office of foreign
Minister will become vacant. Ve
verka is slated to succeed his present
chief.
FIVE FORMER HEADS
OF BANKERS ARRIVE
E. F. Swinney of Kansas City
One of Oldest of Ex-Presi
dents. Greeted Here.
Five former presidents of the Amer
ican Bankers' Association were among
the nation's leading financiers seen
here this morning.
Thomas B. McAddams. president of
the Union Trust Co.. Baltimore, was
one of the first arrivals. When head
of the A. B. A. he was president of one
of the leading banks in Richmond, and
is one of the best known bankers in
the South.
Harry J. Haas of Philadelphia,
president of the national association
two years ago. was early on the scene,
as was Lewis E. Pierson, chairman of
the board of directors of the Irving
Trust Co.. New York City.
John G. Lonsdale, chairman of the
board of the Mercantile Commerce
Trust Co. of St. Louis, was one of the
earlier delegates to register at conven
tion headquarters.
E. F. Swinney, chairman of the
board of First National Bank at Kan
sas City, one of the oldest former pres
idents of the association, who is still
engaged in active banking, was greeted
cordially by the men who were es
pecially active in affairs in his time.
Other former presidents were ex
pected during the day.
HOLDS OPEN HOUSE
Southwest Community House will
celebrate its thirteenth anniversary
and annual opening from 7:30 to
10 p.m. tomorrow. Visitors will be per
mitted to see the work of the classes
and inspect the building.
The community house, formerly
known as the Mother-Child Center,
is supervised by Mrs. Alma J. Scott,
whose work over the past 13 years
largely is responsible for the develop
mnt of the institution.
MISSIONARY GROUP
TO SIOOY BOOKS
Works of Two Prominent
Writers to Be Discussed
at Institute.
The books of two prominent writers
on missionary work will be studied In
the three-day Missionary Institute ·
which opened this morning in the
First Congregational Church. The
Institute Is directed by the Women's
Council of the Washington Federation
of Churches.
The purpose of the meeting will be
to further missionary work at home
and in foreign fields by the study and
presentation of the true missionary
picture.
Books Urged for Study.
Mrs. William L. Darby, wife of the j
executive secretary of the Washington ι
Federation of Churches, presided at j
today's session, into which books by
Mrs. Ε. H. Silverthorn, director of
missionary education, Presbyterian
Churches of America, and Mrs. Joy
Elmer Morgan, president of the Balti
more Conference, Women's Home Mis
sionary Society, were Introduced ifer
study.
Miss Michl Kawai, an active Jap- |
anese missionary and co-author of }
Mrs. Sllverthorn's book, "Japanese
Women Speak," was the honor guest
at today's luncheon. Several women
from the Japanese Embassy were in
vited, and Miss Yosho Siato, Japanese
coloratura soprano, presented several
native songs. ·
"Orientals in American Life," writ- |
ten by Mrs. Morgan, was selected by j
the Missionary Committee of the Fed- ι
eration of Church Women for
presentation to the institute for itudy.
Member· of Committee.
Headed by Mrs. Benjamin W. Meeks
as president, the Institute Committee
includes Mrs. Darby, Mrs. Henry C.
Briscoe, program chairman; Mrs. W.
E. Boulter, secretary; Mrs. H. M.
Kendrick and Mrs. Allen A. Stockdale,
vice chairmen; Mrs. George A. Ross,
treasurer; Mrs. J. Claude Keiper, de
nominational representatives chair
man; Mrs. Arthur Briscoe, ticket
chairman; Mrs. Theron Brooks, reg
istration; Mrs. W. O. Tufts, luncheon
chairman; Mrs. Ε. V. Pugh, chairman
of music; Mrs. Hugh Smith, litera
ture chairman, and Mrs. J. R.
Hardesty, in charge of the ushers.
Mrs. W. R. Rhodes will preside over
tomorrow's meeting, with Mrs. Keiper
chairman of an important mass meet
ing to be held at 8 o'clock tomorrow
night.
WILL NAMES DEAD WIFE
McNealy Property at Lurajr, Va.,
Inherited by Children.
LURAY, Va., October 22 (Special).—
The will of J. R. McNealy. probated
here, leaves all his property, without
reservation, to his widow. She died
several weeks before Mr. McNealy and
the will was not changed. The prop
erty will be inherited by the three
children of the couple. Reggie Mc
Nealy of Grand Rapids and Willard
McNealy and Mrs. Eu la Brewer of
Washington. The estate is valued at
$10,000.
D. A. R. CHAPTER MEETS
Special Dispatch to The 8t&r.
COLLEGE HEIGHTS, Md„ October
22.—The Brig. Gen. Rezin Beall Chap
ter of the D. A. R. has voted to send |
copies of the flag code to every school
In Prince Georges County and to take ;
part in the State celebration of Mrs |
Russell William Magna's birthday an
niversary on November 15.
Contributions will be received at the
Magna function toward wiping out j
the Indebtedness on Constitution Hall.
FEVER SPREAD FEARED
Br * Staff Correspondent of The Star.
UPPER MARLBORO. Md„ October
22.—Because of an outbreak of scarlet
fever, teachers in the public schools
of Prince Georges County have been
asked to examine their pupils each
morning for symptoms of the disease.
Dr. A. B. Hooton, county health officer
said today.
Dr. Hooton discovered the outbreak
late lut veek. He said about a dozen
cases have been reported In the Oxon
Hill-Fort Poo te neighborhood, with
scattered cases in the suburban area.
ME WONDERS
iWJML EAT
"Refectory" Short of Cash
With Reopening Set
for December.
Members of the Senate are In a
juandary as to bow they are going to
sat this Winter.
The Senate "refectory" as It has
jeen traditionally denominated for
fenerations, Is minus the necessary
runds ta. keep It going. Plans had
jeen made to open It up in tbout six
weeks, but search of the appropria
tions measures reveals that this can
iot be done unless it sustains itself.
IVhile Federal benefits have been
landed out In recent months in many
lirections. the Seriate restaurant has
seen discriminated against.
A legislative appropriation bill con
tains a provision yhlch sharply limits
jse of the funds carried in the meas
ure "for the operation of any restau
rant." As this language Is interpreted
sy appropriations experts, it means
.hat if the Senate Rules Committee. !
irhich is in charge of the "refectory," ;
»n make the restaurant pay, It can
go ahead and operate it, but it cannot
jet Federal aid and comfort.
Copeland in Charge.
Senator Copeland, Democrat, of
New York, as chairman of the Rules
Committee, Is in charge of the restau
rant. If he falls to open up the es
tablishment, which has been closed
through the Summer, he will be under
the flre of criticism from his brethren.
If he opens it up and it does not pay.
he will be preceding In violation of
the legislative appropriation act.
House leaders, it appears, looked,
far enough ahead to put into the
appropriation act a special provision
under which the House restaurant
can operate.
In the background of the matter Is
the complaint which has been heard
for years, and which has Impressed
watchdogs of the Treasury in the
House, that a few Senators have sys
tematically refrained from paying ;
their billi in the "refectory." They
have, it is said, had their meals
charged from week to week and
month to month and year to year and
never paid what they owed. The
aforesaid watchdogs of the Treasury
are bent on making Senators pay
their bills and making the cafe a
self-sustaining institution.
To Open in December.
At the Capitol yesterday it wa*
given out that the Senate "refectory"
would open in December, despite
draw-backs, and that efforts would be.
made to make It pay Its way. A pos-1
sible way out of the difficulty is a
deficiency appropriation early in Jan
uary. This, however, would amount
to confession that Senators were get
ting meals at a rate less than cost
to the Government. It would not be
a good advertisement for the New
Deal.
Meantime, the many old-time em
ployes of the Senate restaurant are
uncertain about its future. Some of
the colored waiters and cooks have
been familiar figures about the "re
fectory" for a generation or more,
and they are worried about their
tenure of office. Unless the budget
regarding the cafe can be balanced,
they are due for a long, cold Winter,
possibly to go on relief rolls.
YUGOSLAV UNITY
POUCYJS FIXED
New Premier Announces
Principles to Apply to
Cabinet Selection.
Bj Cable to The Star.
BELGRADE, October 23.—N. <ola
T. Utunovitch, Premier of YugoeUvia,
declared In a statement to the press
at midnight last night that the mem
bers of his new cabinet, as yet un
named. must stand unreservedly for
the following principles:
1. Monarchlal constitution.
2. Karageorgevltch dynasty.
3. Unity and indivisibility of Yugo
slavia.
4. A policy of peace.
Yugoslavia's old political parties
are played out, said the premier, and
can never return.
Father Anton Koroshetz, Slovenian
leader, it is learned, has been freed
after a period of Internment on Hvar
Island upon his declaration of loyalty
to the new regency rule.
Dr. Vladimir Matchek, Croat
leader, who is interned in a hospital
at Zagreb, capital of Crotia, has
issued a statement of condolence and
sympathy addressed to King Peter II,
Queen Marie, widow of the late King
Alexander I, and Prince Paul, chief
regent.
Information from other sources,
contradictory to the assurances of
the premier, is that the Croats, who
have long smarted under Serbian rule
centered in Belgrade, are bitter and
will fight for their autonomy goal.
There are predictions of critical days
ahead.
(Coprricht. 1934.»
WOMEN PLAN MEETING
Leland Democrat· to Hear White
ford Wednesday Night.
By a Staff Correspondent of The Star
CHEVY CHASE, Md., October 23 —
A business meeting of the Democratic
Women's Club of Leland will be held
Wednesday night in the County Build
ing at Bethesda, Mrs. J. H. Werner,
president of the club, announced today.
Roger J. Whlteford of Chevy Chase,
attorney to the Board of Montgomery
County Commissioners, will attend
and answer questions on the Issues
of the current State and county politi
cal campaign.
Delegates will be elected to the
convention of the United Women s
Democratic Clubs of Maryland, sched
uled for the Lord Baltimore Hotel in
Baltimore on Thursday.
·■ 1
SPEAKER FROM MEXICO
Br a Staff Correspondent of The Star.
ALEXANDRIA. Va.. October 22 —
Right Rev. Y. Vclasco Salinas. Bishop
of the Episcopal Church in Mexico, is
to be the principal speaker at a mis
sionary mass meeting to be held at
St. Paul's Episcopal Church here Oc
tober 29 at 8 p.m. Members of all
churches In the Piedmont Convoca
tion will attend.
Rev Richard Trapnell of Charles
ton. W. Va., and Miss Emma J. Hall,
representative of the National Wom
an's Auxiliary of the church, are
scheduled to address the meeting.
Ministers of the Piedmont Convoca
tion will attend a luncheon at the
church.
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Advertising .Matter*'
THERE used to be a favorite phrase of adver·
tisers. They asked to have their advertisements
placed "next to reading matter" in the belief
that such a position would assure more at·
tention.
But today the editor might well ask to have
his news items placed "next to advertising
matter," for very definitely the advertisements
have a tremendous reader following. Today's
advertisements win eager attention because they
help people buy intelligently, quickly, without
waste of time, and get full value for the money
spent.
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to guide you swiftly and surely to wise, eco
nomical buying. The best advertisement is
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