Brownsville herald. [volume], July 02, 1935, Page SIX, Image 6

About Brownsville herald. [volume] (Brownsville, Tex.) 1910-current

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BANKING BILL
IS CHANGED IN
UPPER HOUSE
Control Of Nation’s
Credit Retained In
Majority Vote Of
Reserve Board
WASHINGTON, July 1. (A>i —
Drastically revised from the form In
which It passed the house but re
taining control of the nation's
credit in a majority of the Fed
eral Reserve Board, the administra
tion banking bill was reported to
the senate hanking committee Mon
day by the Glass subcommittee.
Credit control under the revised
draft would be placed in an open
market committee composed of a
■even-member reserve board and
five representatives of the 12 re
serve banks.
Known As Governors
Existing law makes the 12 reserve
bank governors the open market
commmittee and the hou.se bilf sets
up the whole reserve board as the
committee, wtih an advisory com- ,
mlttee of five reserve bank gov
ernors.
The seven members of the new
reeerve board would be known as j
“governors” and be appointed for j
14-year terms.
To avoid political influences, the
secretary of the treasury and the
comptroller of the currency would
be removed as members of the |
board 90 days after the bill be- i
came law. Th* house bill retained j
the existing board set-up of six j
appoint* re members and the two
ex-officio members—Secretary Mor
ganthau and Comptroller J. F. T.
O’Connor.
The new “board of governors”, as !
the reserve board would be known, J
would have a chairman and vice
chairman, to be selected from
among the board members by the
president to serve four year terms
None of the governors could be re
appointed and not more than four
of the governors could be members |
of the political party.
The open market committee would
have authority to initiate policies
having to do with buying and sell
ing of government securities, dis
count rates and reserve require
ments. but as in existing law any
of the 12 reserve banks could re
frain from following an open mar- 1
ket policy adopted. It would be'
mandatory upon all the 12 banks in ;
the house bill.
Heads of the 12 reserve banks
would be known as presidents and
vice presidents, instead of gover-1
nors and vice governors.
Coaid Change Requirements
By a vote of not less than five oi
the reserve board. It could raise
reserve requirements against de
posits to a maximum doubling exist
ing requirements “in order to pre
vent injurious credit expansion or
contraction.'*
Existing requirements are seven,
ten and thirteen per cent, depend
ing on the local banking area classi
fication.
The revised bl’.l further provides a
national bank may make real es
tate loans secured by first liens if
the property is located within 100
miles of the lending bank, provided
the lean does not exceed 50 per cent
of the appraised value and is not for
more than five years.
Loans not to exceed 00 per cent I
of the appraised value could be mad*
if they were secured by an amor
tized mortgage under which in
stallment payments were sufficient
to amortize 50 per cent or mere of
the loan in 10 years.
No bank could make such a loan
in excess of the amount of the capi
tal stock paid in and unimpaired,
plus the amount of the unimpaired
surplus stock paid in and unimpair
ed. plus the amount of the unim
paired surplus fund, or In exceas
of 00 per cent of the amount of Its
time and savings deposits, which- j
ever is the greater.
July 4th Sunrise
Dance Is Planned
(Sper'.at toTfts Rrri»ld>
SAN BENITO, July 2.—A sun
rise Fourth of July dance has been
announced cn the Aztec roof for the
morning of July 4
Leonard Williams and his Nine
Aces of Rythm. Louisiana negro or
chestra now playing at San Antonio. J
has been engaged to play both at
the sunrise dance and Tor the reg
ular Saturday night dance this week
on the Aztec roef.
The management of the Aztec an
nounced Tuesday that sunrise dan
ces always have been popular on the |
roof. More than 500 persons attend
ed the sunrise dance there last Julv
4.
SOVIET SAYS
(Continued From Page One)
play Into the hands of the Japa
nese. the press said, but Pravdaj
added:
“The Japanese and Manchou
fcuans must realize that we have
sufficient forces in the far east to
exterminate all these provacateur
bands If we so desire."
■—in -.-..
TOKYO PRESS GETS
EXCITED OVER PROTESTS
TOKYO. July 2. i<Pi—The strong
tone of Soviet Russia's latest pro
test to Japan, alleging Japanese
troop violations of Soviet territory, i
evoked sensational headlines in the
Tokyo press Tuesday, but officials
professed little concern.
Vernacular newspapers stressed
the stemess of the protest. Nichi
Nichi called it "threatening”, em
phasizing a ‘reference to grave con
sequences”
Officials asserted that such a
phase was absent from the note in
the Russian language which Am
bassador Constantin Yureneff hand
'ed Foreign Minister Koki Hirota
Monday night.
The foreign office spokesman said
Yureneff sent a second note to
Hirota Tuesday "correcting certain
passages" of the protest.
The spokesman said Japan’s res
ponse would be withheld pending a
reply from General Jiro Mtnmni.
.rom whom a report on the alleged,,
thctdeBia has been requested.
All Happy Five Years After Baby Mixup
Five years have passed since
the Bamberger* and the Wat
kins' went through aeonizing
weeks of doubt as to "who had
whose baby.” The two baby
boy* were born in a Chicago
hospital at almost the same
time. Mixed identification tags
caused all the turore. Today
neither the Bamberger* nor the
Watkins’ have any doubt that
they are rearing their own
flesh and blood. At top are
the William Watkins’, left, and
thf Charles Bamberger*, right,
as they stood in the hospital in
1!»30 trying to decide which
baby was which. Below, left,
is Charles Evans Watkins, and
at right is Ceorge Edward
Bamberger, as the two boys,
both healthy and strong, ap
proached their filth birthday.
Time has brought out family
resemblances, confirming the
correctness of the final decision
better than mother instinct or
careful scientific examination
could do when the controversy
was at full heat five years ago.
Improved means of marking
and identifying babies soon
after birth have been adopted
all over the country as a re
sult of the famous case.
REPAIR BEGINS
JULY TWELFTH
Work Order Received On
Auditorium Project
At Harlingen
(Special to The Herald)
HARLINGEN. July 1.—Work or
der was received here Saturday by
Stanley W. Bliss from the Public
Works Administration on the Harlin
gen Fair Park auditorium.
The work order has been turned
ever to the Ramsey Brothers com
pany. which has been allotted 150
working days to complete the task
of rebuilding the auditorium. Actual
work on the structures, however,
will not getu nder way until July 12
because of the fact that the super
vising engineer must be given 10
days notice. As the men are ready
to go to work, activity on the job
is expected to start promptly the
nornlng of July 12. Hopes have been
expressed that the npw rebuilt aud
itorium would be ready for use by the
time set for the Valley fair this fall.
If this goal is to be attained, how
ever. fast and steady work will be
inquired cn the project.
Contract for the construction
work was awarded June 1. but the
official work order was not received
until Saturday. First remnants of
the old structure will have to be
wieckeri. but this too has been in
cluded in the contract with Ramsey
Blethers
PREVENTIVE
(Continued from Page One)
that the maximum amount allowed
the doctors should be increased. He
pointed out that in many instances
the physicians were obtaining only
about 25 cents per call for work
done on the indigent sick. No ac
tion was taken on the propoasl. but
It was indicated that the court
would consider the matter further.
The commissioners authorized
purchase of a sedan from Huitt
Motors of Harlingen for use by the
sheriff's department. The car will
cost the county $500 and a trade
in valued at $664. The Huitt Jjid
was low by $35 for the particular
type of car purchased.
PORT ISABEL
(Continued from Page One)
rr said, but when the delegation ap
peared Mr Scanlan objected to their
participation in the conference.
Steiner said. He said that the com
mittee. under the circumstances, did
uot Join the conference.
B B. Burnell attacked expendi
tures by the city for what appeared
to him to be excessive legal advice.
He charged that expenses for opera
tion of the city were too high.
Two Gunmen Get
$500 In Bank Raid
BRONTE. Coke County, July 1. OPi
—Two men robbed the First Na
tional Bank here Monday afternoon
of approximately $500.
The two robbers armed with saw
ed-off shotguns, entered the rear
door of the bank, and called on the
five persons in the bank to hold up
their hands. They forced the five
to lie on the floor while they ran
sacked the cash drawer, then herd
ed them into the vault and fled.
The 20th century did not begin
with th* year 1900. It began Jan.
b *»01.
ONE ESCAPES
(Continued From Page One)
discovered the break as the quartet
scaled a six-foot fire wall atop the
administration building, stopped the
ru >n of three of them. He fired from
a distance of 20 yards after they dis
regarded his shouted warnings to
halt.
Wright said he believed one shot
“truck Jones. The first blast from the
guard’s not gun knocked Dyer off
the wall and his body fell to the
ground.
Ms A1 lister. tumbled six feet to the
roof of the building, shot in the back
and shoulders and bleeding inter
anlly.
Panders dropped behind the fire
wall, but Jones dashed on over the
roof, dropped to the ground, and
ran.
Property Valuation
Suit Is Filed Here
Charging that Cameron county’s
tern of assessing property for tax
valuation purposes is not equitable
nor in accord with law, Harry Landa
of San Antonio has filed suit In
civil district court here in an effort
to reduce his taxes from $7398.52
to $3,250.77.
Landa charges that his five pieces
of Cameron county property, in
cluding the Oalveston ranch, have
Leer assessed in excess of their
"reasonable market value” and sets
cut figures as reasonable which
*oUid reduce his taxes by more than
hall.
His property involved in the suit
an lots 1. 2. 3 and 4 in block 69.
Harlingen; the Galveston ranch;
the north 125 acres of the west
200 In survey 302 by E M. L. Wil
liams; the north 10 acres of block
43 in the Parker subdivision; and
8 32 acres of the Paul Hill sub
division in block 11. The taxes date
back, to 1931 on most of the property.
MARKETS
NEW YORK STOCKS
NEW YORK. July 2. —'With
Washington developments apparent
ly to its liking, the stock market
Tuesday devoted most cf its bullish
attention to the utilities.
The power group was given a fast
early pay but other groups were
not particularly enthusiastic and a
number of soft spots appeared in the
list as the trading volume dwindled
Morning gains were shaded in many
instances or cancelled.
Wheat yielded to profit-taking
and other grains were hestitant. Cot
ton was just about steady, as were
leading foreign exchanges. Power
company bonds pushed higher.
Shares getting up fractions to a
point or more included American
Telephone. Western Union. Con
solidated Gas. North American, Pa
cilie Lighting. Picific Oas. Liggett
Sc Myers “B.'* American Tobacco
B," American Can Continental Can.
Woolworth, Corn Products Timken
Rcl’er Bearing and Westinghouse.
A decl ne of around 3 points was
suffered by both the common and
preferred stocks of Southern Rail
way. The other carriers were easier.
The oils, steels and motors did lit
tle.
Mining issues were listless. The
prices of imported Bar silver at New
Ycrk was reduced 4 of a cent an
ounce to 694 cents.
American Water Works was an
exception to the general run of utili
ties, the common shares sagging
when the company omitted the divi
dend of this class its last previous
payment was 20 cents. The Water
Works preferred issue registered an
advance of about 2 points.
Selling of Southern Railway was
somewhat mystifying to the Street,
as well as to officials of the road.
The latter said that thee ompany
taw no immediately financial diffl
Movie Title
Whenever this vivacious young
idy is cast for a part in a screen
production it is sure to have an
nteresting title—she’s Princess
Natalie Paley. half sister of the
;rand Duchess Marie of Russia
I’hat happy smile, registered on
anding at New York, is inspired
uy the contract that lures her
Holiywood-ward to appear in the
movies.
culties ahead and that nc loan is
being sought from the RPC.
few analysts continued to hold
Ihe thought that no matter what
congress does only momentary re
sponse is to be expected from the
markets while anticipations cf good
improvement in business during the
fall and winter remain unchanged.
NEW ORLEANS COTTON
NEW ORLEANS. July 2. UPv—Bet
ter cables from Liverpool Imparted
a steady tone to the cotton market
Tuesday and active futures were
three to six points higher at the
first call.
Both the near and distant posi
tions shared in the advance with
July at 11.85. Oct. 11.53. Dec. 1152.
and January 11.53. The better tone
pt Liverpool was the result of that
market's first opportunity to re
flect the elimination of the export
subsidy bill from the AAA orogr’m
The market eased a little from
the early highs during the morn
ing. but managed to retain net
gains in all cases. The March posi
tion, a weak spot Monday, was a
feature of strength Tuesday ad
vancing sewn points to 11.53. July
at 1183. Oct. at 11.51 and Dec. at
11.49 represented smaller advances.
Rains in Louisiana. Mississippi,
Alabama. Tennessee and Georgia
appeared on the weather map Tues
day, with Texas coming in for a
few showers.
CHICAGO GRAIN
CHICAGO. July 2. OFv-Opening
easiness in wheat prices was follow
ed early Tuesday by a firming of the
marketp rior to announcement of the
private crop reports. .
Opening H to % cents lower. Sep
tember 87%-%, wheat later rose
above the previous close. Corn start
ed % to % higher. September 75% -
76, and then gained.
Within a 50-mile radius of Spo
kane. Wash., are more than 90 fresh
water lakes.
STORM SERVICE
MACHINE READY
Teletype* to Bring Data
On Wind* In Short
Time
With the use of * new teletype
apparatus, which has been installed
at the Brownsville Weather bureau
recently, a new. more efficient
storm service for cltiaens of this
section became a reality at mid
night Sunday. Original contract
called for the new machinery to be
ready for use on July 1.
The new teletypes which have
been installed In the leading weath
er bureau stations around the Gulf
coast from Jacksonville and Key
West in Florida to Brownsville are
expected to greatly expedite gath
ering and publication of news dur
ing storm and hurricane periods.
Through use of the new machines,
stations will be In communication
with ships In Gulf and Carrlbean
waters. Information from tropical
points will come by naval radio to
stations at Key West and New Or
leans, from there being disseminat
ed to stations along the coast by
teletype with the loss of not more
than 30 minutes. The teletypes can
be run on a 24-hour service sche
dule when it Is necessary
I. R. Tannehill. Washington. D
C„ assistant chief of the weather
oureau. in charge of forecasting di
vision, is expected to visit the station
here soon. At the time of his visit
more detailed informaton regard
ing the new teletype set-up will be
available.
Airplane Trip Puts
Valley In Spotlight
Requests have been received here
from Marrellus Murdoch, publisher
of the Wichita. Kans.. “Eagle” for
photographs of scenes in Browns
ville and vicinity. The Kansas pub
lisher was a member of the party
of newspapermen who made a hasty
night to the Valley recently as hon
or guests, inaugurating the new ser
vice of the Braniff airlines.
Murdoch stated in his letter that
he had not had time to obtain pic
tures himself while In Brownsville
and that he was eager to get them
to use In conjunction with a feature
article he was preparing on the Val
ley for his Sunday paper He asked
particularly for scenes of the air
port. work on the pert project, view
of the city of Brownsville, and a typi
cal palm lined street Observers
thought that they saw In his re
quest the beginning of favorable
publicity to be derived from the good
will airplane visit of northern news
papermen The pictures were sent
to Murdoch by air mail Wednesday
night.
City Briefs
What you need today—Beach
chairs, cots, thermo bottles and fish
ing tackle.—Brownsville Hardware
dv.
Flowers for an occasions. Los
fcbanos Greenhouse Company. Phone
1588. Adv.
Yellow c'ab—Phone 1038.—Adv.
Special this week on fryers, broil
ers and eggs. Phene 17 or Homer
Fitch Market, 700 West Elizabeth.
—Adv.
Elopes With Her Abductor
Dorothy Sands, 17-year-old Mt. Kiaco, N. T, girl who helped send Silas
Hiatt (inset), 38, to prison on a statutory charge after he abducted her
and held her 12 days in the cave-house where she is pictured, eloped
with him as ha completed his two-year prison term.
ILLEGAL ACTS’
(Continued Prom Page One)
deputy constables and all peace of
ficers of Texas.
The petition alleges that Wood
is a farmer and transports l*s own
products to market from the Valley
and buys from other farmers and
packers when his own farm Is not
producing and hauls this produce
to market. It asserts that on
numerous occasions, peace officers
in numerous counties have “held
up. stopped and without legal war
rant issued by a court of competent
Jurisdiction, arrested and searched
plaintiff and his truck-drivers and
searched his trucks, extorted from
him and said truck-drivers large
sums of money in unlawful fees and
fines, and. in fact, on several oc
casions. have thrown plaintiff and
his truck-drivers in Jail, held them
in restraint and under false im
prisonment. on trumped-up charges
of alleged violations of subdivisions
"P” of section 3 and section 5. and
"A’* of section 5 of article 911b of
the civil statutes of 1931 and of vio
lation of section A of article 1690b
of the Penal Code of Texas ’*
In alleging that the forced stops
and searches were made without
proper authority, the petition as
serted the officers were making un
lawful arrests and thereby becoming
“naked trespassers” on the defend
ant’s property and that they vio
lated his rights under the Fifth
Amendment of the constitution of
the United States and section 19 of
article 1 of the Texas constitution.
A similar petition was filed and
a similar temporary restraining or
der issued in favor of W. N. Vickers.
also a Donna farmer and truck op
erator engaged In hauling his own
produce, the defendants being the
same and the allegations being sim
ilar.
Hearings on the temporary in
junctions requested will be held In
both cases in Judge Bennett’s court
un July 26.
This is the second Important
truck suit to appear in civil litiga
tion in Hidalgo county during re
cent years. Some time ago. Ken
nedy Smith of Edinburg, represent
ing J. C. Engel man. Inc . developers
of Engelman Gardens near Edin
burg. won a suit in the Texas
supreme court which definitely es
tablished trucks used solely for farm
P' -poses and for no other purpose
as "implements of husbandry’’ and
thus, under the statutes, exempt
from payment of the state license
tax. The case was in the courts
more than two years.
TAX DISCOUNTS
(Co tinued From Page One)
work the hardship on taxpayers it
appears to. Ralph T. Agar, Cameron
cuunty tax collector-assessor, point
ed out Tuesday.
Increased tax rates would have
been necessary to replace the short
age in tax receipts which such a
plan would have resulted in, Mr.
Agar said, and the small taxpayer
would have had to bear an extra
burden.
Large corporations would have
profited under the plan, the as
sessor-collector pointed out. but the
small taxpayer's burden would have
been increased.
DR. JEWETT IS *
UNION SPEAKER
Approximately 700 Persons#
Attend Services On
Campus
With between 900 and TOO per
sons in attendance, the first open
a»r union protestant summer ser
vices were held on the junior col
lege-high school campus Sunday
night hearing Dr P. L Jewett. Tea
a* University Bible chair at Aus
tin
Dr. Jewett spoke on “Succantfiil
Rules For Living”, basing his ter
mor. on one of Paul's letters to
Timothy. He emphasised such trait*
as kindness and gentility for suc
cessful lives. He was introduced by
Dr. S K Hallam. former pastor of
the Central Christian church here.
Another visiting minister on the
past form was Dr. Charles 8. Pierce,
Ft Worth.
Special music was offered bv the
united protestant choir of appro*
trr.ately 60 voices under the direc
tion of Professor David Armlaher.
Two pianos were used in the open
air service with Mrs D. F Hardly
and Miss Aurora Ortis serving JP
accompanists. The Fort Brown baa a
Is scheduled to open the servile
vrith s fifteen-minute concert neat
Sunday night at 7i45.
Plans were also announced at the
service for the union dally vacation
Bible school which is to begin nest
Monday Initial registration was
held following the Sunday evening
service
All Work Project*
In County Halted
Announcement* Monday said that
K Is necessity for the Cameron
County Rellei board to withhold all
work projects, reserving what fHi
dollars remain unexpended for the
care of unemnlovable persons In dlra
need and distress. 4
This announcement followed re
ceipt of Informatlcn from headquar
ters office of State Administrator
Adam R Johnson in Austin to the
effect that Texas, for the month of
July, had received no allotment of
relief funds from the Federal Relief
Administration in Washington.
John s advice stated further that it
was impossible for the Texas Relief
Commission to make allotments to
the various counties for the July
program at this time nor could he 1
give any assurance as to what the J
allotments for the month would be. i
Furthermore, he could not say howl
soon they would be anno inced.1
These conditions forced the 1mme-J
dlate curtailment of work cn relie#
projects in the county.
According to officials here the epA
tire program at present Is in an un
settled condition, with the rural pro
gram and the new Works Progress
Administraticn having been taken
away from the control of the Texas
Relief CqmmKsion. Each of these
units Is now in the process of or
ganization for the purpose of carry
ing out its own particular program.
Suit Asks Receiver
For Ginning Company
A. D McMinn of Houston haa
filed suit in civil district court here
seeking appointment of a receiver
for the Combes Gin Company dur
ing the coming cotton season.
McMinn claims a lien on the gm
as the result of a $3 032-90 Judg
ment he took in September of IMS
against persons who were operat
ing the company at that time.
One Was a Millionaire
One Was a Movie Hero —
And both men were in love with pretty Jo Darien who, a few week* be
fore, had been worried about money, glad to get a $10-a-week job.
Whirled into the gay life of a fashionable summer resort, Jo, 20 year*
old, unsophisticated, finds admiration and romance and, keeping pace with
them, envy, intrigue ... danger.
#
“Sun-Tan,” the new serial by Nard Jones, tells how Jo made her choice,
fought for the man she loved, and won.
beginning July 8 in