Henderson daily dispatch., March 16, 1933, Image 1

About Henderson daily dispatch. (Henderson, N.C.) 1914-1995

Image provided by: University of North Carolina at Chapel Hill Library, Chapel Hill, NC

                
HENDERSON,
gateway TO
CENTRAL
CAROLINA.
TWENTIETH YEAR
COMMODITY PRICES
SOAR WHILE STOCKS
CONTINUE TO CLIMB
Cotton Advances Almost $5
Per Bale, or Nearly Cent
Per Pound as Ex
change Open*
WHEAT HITS LIMIT
WITH 5-CENT RISE
Trading In Stock* So Tum
ultuous That Ticker Serv
ice Runs Eight Minutes
Behind, and Sharp Ad
vances Are Added To
Great Spurt Wednesday
Npr; York. March 16. —(AP) — The
bi£ forward push in security markets
spreaci to the country's leading com
modi'y exchanges today, adding huge
.sums to the quoted value of stocks,
bonds, wheat, corn, rye, cotton and
ether ‘‘prosperity” measure stocks.
While shares on the New York
Stock Exchange were extending yes
terday's sensational gain by $1 to
more than $3. the grain pit at Chi
cago. was witness'ng a wildly bul
-1 ,h opening. Extreme advances were
nhricted by special legislation, but
wheat jumped the limit of five cents
r Iniohel. and corn, up three cents,
gained all that was allowable.
New York cotton prices soared $3.50
ro nearly $5 a bale, later meeting
some profit-taking sales, which re
duced this range. Trading in stocks
here was so tumultuous thtat quota
tion reporting facilities were swaped
and the ticker fell as much as eight
minutes behind actual transactions on
the floor- The market boiled up at
the opening, subsided a bit under
realizing, and then returned close to
the h’gh levels.
MacDonald
Warning Os
New Wars
Can Almost Hear
Civilization Crack
ing, He Tells Dis
armament Parley
Geneva, March 16. —(AP) —Deliver-
ing an impassioned appeal, especially
(Mrected to France and Germany, for
abandonment of fear and cultivation
of confidence, Prime Minister Ram
say MacDonald of Great Britain to
day laid the newest British disarma
ment and security plan before the
world disarmament conference.
Demanding contributions to peace
from both armed and unarmed na
tions. he solemnly warned of the
danger existing In the international
situation.
“We can almost hear the very fa
bric of our crackling
about our ears,” he said.
The plan embodies a draft of dis
armament convention providing for
'hr. reduction of tanks and heavy field
■Runs, and prohibition of air bombing.
I' also attempts to couple abolition
"f military aircraft with guarantee
gainst the conversion of civil air
mail to fighting purposes.
WEATHER
For. NORTH CAROLINA.
•Mostly cloudy tonight and Fri
dfyv; rising temperature Friday
»nd in went portion tonight.
Beer Measure To Become
Law Probably By Night
Wasihingiton, March 16 (AP) —Wlitoi
1 *dei;j hep'iig for a vote by tonight
Senate de bated the 3.2 percent beer
to.tay and quickly approved an
ani cndm*iit adding wine of the same
a let hole content.
Senator Sheppard, Democrat, Texas
a sponsor of the eighteenth amend
men ’-. called it a “desperate and
2*c fount of taxation.”
An overwhelming majority, formed
lor the Republican as well as tilue
rank*, was impatient to
r " e th ebi.ll it , approval, b,u(t wfhe
*Her the vote could be reached 1 de
pended on tlig extnt of opposition or
rtorv. - ; * j
by the House, endorsed
rv.
lUmiteramt Haifa Htsaatdi
Montana Senator
_ #
wL w
Senator Erickson
Resigning as Montana’s chief ex
ecutive, Gov. John E. Erickson,
serving his third four-year term,
became a United States senator
when he was appointed by former
Lieut. Gov. Frank H. Cooney,
who succeeded Erickson as gover
nor. Active in Democratic poli
tics since 1897, Senator Erickson
succeeds the late Senator Thomas
J. Walsh./
ECONOMY MEASURE
WILL BECOME LAW
DURING AFTERNOON
Amendments Tacked on in
Senate Acceptable to
President Roosevelt,
He Advises
HOUSE MOVES FAST
TO ACCEPT CHANGES
Mid-Afternoon Sees Bill on
Way To White House, Au
thorizing President To Cut
Government Expenses
$500,000,000 Including
Veterans Funds
Washington, MiarcW 16 (AP) —As-
sured by tihe White House that the
Senate changes in the econom/y bill
were acceptable to Preculent Roose
velt, House leaders sent the measure
today towiard speedy acceptance of
the amendment to expedite it to the
chief executive.
A dispute at the outset of the ses
sion prevented im'mediate agreement
to the ob.angs, but they were sub
mitted promiptly to the special econ
omy committee and brought back to
the fk>of after it had approved them.
One hour was set for debate and
a vote yvas to be had at the end of
that time. By mid-afternoon House
leaders expected,the measure would be
on its way to the Wthiite House f° r
signature.
Immediate action at the outset of
' Continued on ,paae Three.)
and amended by the Senate Finance
Conunhtee so as to include wines, the
measui'e wtas at the top of the Sen
ate Democratic leaders' program for
the day. Chairman Harrison, Demo
crat, Mitesissfippt, of the finance com
mittee, hoped for a vote toddy, but
Intimated that was just a hope. His
intention and the plan of other Dem
ocratic leaders were to let the mem
bers talk themselves out today, so the
bill could be agreed upon and deliv
ered to President Roosevelt by Sat
urday.
Such quick enactment in response
to the President’s 72-word- message,
sent up Monday, would mhke beer
legal before April 15 in the States
where State laws do not prohibit.
ONLY DAILY NEWSPAPER PUBLISHED IN THIS SECTION OF NORTH CAROLINA AND VIRGINIA.
, O»' I TH«*ASBOcT*TifD *?REg»*
HENDERSON, N. C., THURSDAY AFTERNOON, MARCH 16,1933
OTTO SOON MAY RULE AUSTRIA
lit Jjgp
With a Fascist revolt imminent in
Austria, l|d by Austrian Hitler
ites, a threatened coup d’etat in
volves the restoration of the mon
archy in the person of Archduke
Otto, left, eldest son of the late
King Charles of Hapsburg who
refused to renounce his sovereign
Banking Headed To Ndrmal
As More State Banks Open
124 Tn AH Now Open Again After Being ’ Rated as
“Strictly Safe”; Conference* Continuing With
Bankers Looking to Opening of Other Banks
Rale’gh, March 16. (AP) —Banuk-
ing \yas headed toward normalcy to
day in North Carolina, as at least
',160 . ban Ming houses,
members of chains and branch bank
systems, were open for the transac
tion of unrestricted business.
There were 124 banks classified as
“strictly safe” open for business in
cluding 93 individual banks and 31
members of chains, which were li
censed in 93 State permits. In addi
tion, one tank and five members of
ta chain which are State banks and
also Federal Reserve members, were
LAST BURLINGTON
MILL STRIKE ENDS
Burlfitngton, t ;M*irc!h 16 —(AP)—
'The Standard Hosiery Mills, cen
ter of a strike movement that
forced 1, 000 textile employees from
their posts Tuesday, resumed op
eration quietly today, but under
protection of 100 officers.
IS NOT PROBABLE
Those Expecting It Doomed
To Disappointment,
/ Wall Street Thinks
New York, March 16.—(AP) —Finan
cial analyslsts of Wall Street, not
withstanding the soaring stock mar
ket, generally are of the opinion that
hope of currency inflationists are
doomed to disappointment.
While various economists of the
-Street admit that some “controlled in
flation” may be in prospect, they
point out that, so far as can be de
termined at this time, the plans of
■the new Federal government are bas
ed entirely upon a “sound and ade
quate currency.”
At the same time, however, brok
er report that some important cus
tomers see nothing but “strong in
flation” on the horizon, with a resul
tant boom in stocks and commodities.
The term ‘“inflation” is not widely
understood. In one way it may mean
the abandonment of the gold stan
dard, with a managed currency and
a consequent rise in prices in terms
of the currency- It may also mean,
the debasement of the currency thro
ugh the reduction of the gold con
tent of the dollar, and the circula
tion of unsecured paper money. Most
eeonom'c observers believe there is
little chance of debasing the dollar.
rights on the occasion of the dec
laration of the Austrian republic.
At right is the former imperial
palace in Vienna and former
Empresg Zita, who hopes to see
her son on the farone once oc
cupied by Emperor Franz Josef.
Otto’s great great unde.
open. The Federal Reserve had also
licensed 30 national banks.
There were 372 banks operating in
North Carolina when the bank holi
day was ordered early in March. Ear
iy this morning, Gurney P. Hood,
State bank commissioner, announced
29 new names to add to the State
list of resumption for unresricted
business.
Mr. Ilood said conferences were
"continuing apparently without end”
with bankers and bank directors look
ing to the opening of further banks,
but that no additions to the list would
be made until after 10:30 tonight.
Roosevelt
Preparing
New Bills
Washington, March 18.—(AP)—
President Roosevelt worked this
morning on his message <o Con
gress dealing with unemployment
and farm relief plans which he
will send to Congress today..
White House aides said the mes
sage, which was expected to be
about 600 words long, would not
be transmitted before 5 o’clock.
The President decided to in
clude both subjects in one mes
sage.
IMWill
Rogers
fsgys:
Beverly Hills, Cal., March 16.
My bank opened today. Instead
of being there to draw my little
dab out, I didn’t even go to town.
Shows you I heard Roosevelt on
the radio.
Bankers should have over their
desks this motto:
“God bless Roosevelt; God. bless
radio, and then P. S. God, bless
interest.” I
But I am telling you that Roose
velt should come ahead of interest.
And all in the world it took to do
these things was to forget about
war debts, disarmament, China's
plight, Germany’s plight, and just
concentrate one week on “Amer
ica's plight.”
America can carry herself and
get along in pretty fair shape, but
whore stops and picks up the
who’e world and puts it on her
shoulders. She just can’t “get it
done.”
Yours, WILL.
Substitute Appropriations
Bill May Pass State House;
8-Mos. School Before Senate
Further Drastic Cuts
In State Expenditures
Ordered By Ehringh aus
May Seem Absurd and Im
possible, But It Cannot
J Be Helped, Depart
ment Heads Told
ALLOTMENTS UNDER
ITEM OF SALARIES
Corporation Commission
Slashed 37 Percent More;
Previous Cuts To Avoid
Salary Reductions Slash
Deeply Into Those Items
Under New Order
Raleigh, March 16.—(AP*-'St a t e de
partments, bureaus, commissions and
.institut’ons today were notified by
the State Budget Bureau that litey
must operate on an allotment for the
fourth quarter of the fiscal year “that
will seem at first absurd and impos
sible”
“It cannot be helped, though,” the
memorandum continued, “and after
cal mconsideration, it will not be
either absurd or impossible.”
Figures on the extent of the cut
could i:ot be immediately ascertain
ed, from the Budget Bureau, but va
rious departmental heads said allot
(Continued on Paste Three.)
MRS. ROOSEVELT IS
PLANE’S PASSENGER
Newark, N. J., March 16.—(AP)—
Mrs. Franklin D. Roosevelt left for
Washington by air today, the first
time that the wife of a President of
the United States has ever flown iin
an airplane.
Mrs. Roosevelt came here Monday
by train, adverse weather preventing
her traveling by air, as she had in
tended.
Daniels Is
Approved
As Envoy
Washington, March 16. —(AP) —Two
of President Roosevelt’s first three
major diplomatic choices were ap
proved quickly today by the Senate
Foreign Relations Committee and or
dered favorably reported to the Sen
ate for consideration, but action on
the nomination of Robertt Worth
Bingham, of Kentucky, to be ambas
sador to England, was delayed until
next week.
The two ordered favorably reported
with little discussion were Josephus
Daniels, of North Carolina, as am
bassador to Mexico, and Jessie I.
'Straus, of New York, ambassador to
France.
NORMAITDAVIS TO
HEAD ARMS BODY
Given Rank of Ambassador
to Represent U. S. Ge
neva Parley
Washington, March 16.—(AP)—Nor
man H. Davis was named as chairtnan
of the American delegation to the
disarmament conference with the
rank of ambassador today.
Davis, a Tennesseean, a Democrat,
and experienced diplomat, has been a
member of the delegation under the
Hoover admin-stration.
His elevation today to its chair
manship was said by State Depart
ment officials to mean, primarily that
the government i s taking all due steps
to perform its full share of respon
sibility with relation to the confer
encee.
Davis has been in frequent confer
ences of late with President Roosevelt
find Secretary Hull.
P’-ns are set for him to sail th<>
middle of next wee 1 : for Geneva,
where efforts are being made to allay
suspicions sufficiently to pave the way
for a definite disarmament agree
ment. | v .
PUBLISHED EVERY AFTERNOON
EXCEPT SUNDAY,
Nebraska Senator?
‘ V W' h iligll
| : | "
[j . ... s
Gilbert Hitchcock
Gov. Charles Bryan of Nebraska
has been urged to appoint former
Senator Gilbert Hitchcock, Oma
-ha publisher, above, to the va
cancy caused by the death of Sen
ator Robert B. Howell. The ap
pointment of Hitchcock, a Demo
crat, is regarded as virtually cer
tain. He is a Roosevelt man-
TO BACK GOVERNOR
Chief Difference Is Over
Form of Sales Tax To
Be Given State
Dully Dispatch Bureau,
In the Sir Walter Hotel.
lIY HENRV LE9ESNE.
Raleigh, id arch 16. —The upper
branch of the General Assembly is
ready to support Governor Ehring
thaus* program of an eight months’
school term and a sales tax, it is now
conceded in informed circles here.
ISome observers are even willing to
•concede that 75 per cent of the Sen
ate’s membership will support the gov
ernor in everything that he laid be
fore the General Assembly in his spe
cial message at the beginning of the
week.
However, the Senate is willing to
support the administrative program
only so far as to agree that both an
eight months’ school term and a sales
tax of some form is necessary to bal
ance the State’s budget and to pro
vide more than starvation allotments
for the agencies and departments of
(Continued on Page Four.)
Cherry’s Appropriation
Measure Is Compromise
Gaston Representative, ILofoming as Moses of The
House, Would Take Middle Ground as Way Out of
Present dilemma General Assembly is Facing
Dally Dispatch Bureau,
In the Sir Walter Hotel.
BY J. C. BASKERVILL.
Raleigh, March 16— sug
gests something that; is bright., col
orful and pleasant to contemplate,
like the cherry colored clouds on the
horizon jutst before the dawn, or a
fuss'©us cherry pie,' or a tree fi/Ued
wCith crirr.eon-ihiued cherries. So the
rme Cherry Is coming to mean new
hope to the sorely troubled/ House in
the present general assembly. For
mlany believe that Representative
6 PAGES
TODAY
FIVE CENTS COPY
K
Bowie - Cherry Measures
Carry Appropriations
$10,000,000 Under
Committee Bill
SALES TAX LINKED
WITH SCHOOL TERM
Mac Lean and Clement Lock
Horns In Senate Debate,
Former Declaring Longer
Term Will Mean Most for
Efficiency and Economy at
This Time
Ra’.cigh. March 16.—(AP)—Moving
In high gear toward votes on two
major questions, appropriations and
an eight months school term, the Gen
eral Assembly today heard hours of
debate with the question of a sales
tax the underlying theme in almost
every speech.
When a vote would be reached on
the bills was left in doubt when the
iSonate concluded four hours of debase
by deciding to meet tonight, but not
take up the school bill again until to
morrow. The House recessed to re
sume appropriations debates tonight.
Two veterans of many a legislative
battle—Senators Mac Lean, of Beau
fort, and Clement, of Rowan—took
opposite sides bin the school question,
as Ure Senate reached the Mac Lea
n bill to create a uniform eight
months term for the entire State.
House members debated the Bowie-
Cherry substitute appropriations bill'
carrying allotments of about $10,000,-
000 less than the committee measure,
and one member who would not al
low his name to be used stated that a
(Continued on Page Three.)
Legislative
Deadlock Is
Now Feared
House Against Sales
Tax and E■g h t
Months School;
Senate for Both
Dally Dispatch Bureau,
la the Sir Walter Hotel.
BY J. C. BASKERVILI,.
■Raleigh, March 16—A deadlock be
tween the Houise and Senate over the
question/ of a State-supported eight
months school term and a sales tax
of some sort, similar to the deadlock
of 1931 over the sales tax problem,
again seems imminent in this General
Assembly. As matters now stand,
the House is conceded to be decidedly
opposed to both! an l eight', months
sclhlool term and to any form of sales
tax, in spite of the message delivered
to the General Assembly by Gover
nor Ehiinghiaue in which he vigoudly
advocated both* of these steps as es
sential to the preservation of the
(Continued on Paste Three.)
Cregg Cherry, of Gaston county, who
last night introduced a new appropri
ations bill representing the less radi
cal. thought in the House, but which
at the same time can be financed with
out a sales tax, has brought a cherry
colored ray of hope into the House -
for some sort ctf cmjpromise that may
lead in much quicker adjournment
than has seemed likely for some time.
In fact, more and more are believing
(Continued on Page Three.)