PAGE SIX MOJIIY, OCTOBER 11, 1928'. PLATTSMOUTH SEMI . WEEKLY JOURNAL Bryan Demands ' Governor Pledge Guarantee Law Citei O. 0. P. Effort to Ball Measure, and Asks for Its Support. ; Only State Protecting Depositors DARROW UNABLE TO ATTEND EITES State Deficit Ponca. Neb.. Oct. 6. Charles W. Bryan, democratic candidate for govr Sioux Falls. S. D,, Oct. 77. Ill ness will prevent Clarence Darrow from fulfilling a promise to deliver the funeral sermon at the bier of Richard F. Pettigrew, South Dakota's first United States senator, who died Tuesday. Years ago, during the height of the senator's rebellious career, he made an agreement with Darrow that the one surviving should preach a sermon at the other's funeral. friend oil Mounts to Near Two Million Treasurer's Books Show that $239, CJ9 Added r. he Last Five Days. Lincoln, Neb. The state trea&ury nr.. Tn wyew in fnrm &n n rho PPtMerew famil here, last nite, sank further in the red today with .,. mn.oa ,ni nro.'a deficit of S1.81S.606. set out on Mullen to loin xt Tvt7iTi ca 11 th state nan K- leuiainci ml mil ernor. toaay cnauengeu t-v' uineM will Dre him. in a pledge 10 r fnprl ithe official report of State Treasurer law. Robinson for the month of Septem- ers had been forced to rescue the law Mention when he! For the first time the report shows from efforts of the republican admin- M ln the gasoline tax fund carried a sep- iPTroTinn i n it 1 11 . i 111 , uiu. - jOb.OV.w. 1S9D uver uc nee "Nebraska stands out aione as uic iuruwmB u nniv state where the despositors in He often referred to the Bible as the state banks have not lost a dol lar business in the state been disturb ed by bank failures during the depres sion In the agricultural states. "Notwithstanding the splendid rec ord which the guarantee of desposits law is responsible for, and notwith-. standing the fact that the people of Nebraska put their entire holdings of money in the banks because they have confidence in the state of Ne braska to protct their desposits, there seems to be an insidious effort be ing made by the republican adminis tration to kill the guarantee of bank desposits law. That Bankers Meeting. 1 "It has been reported to me on Detroit, Mich., Oct. 4. Reaffirm what I consider reliable authority fDg adherence to its traditional policy that the present republican governor cf constructive militancy, the Ameri shortly after his Inauguration called can Federation of Labor, through its a meeting of bankers, with very prom- 4gth annuai convention, defined to inent national bankers included, day the major projects of its pro whlch met in the governor's office and gram for the advancement of labor annouceu 10 mem mai lue uauL weifare during the coming year. Oustanding among the tasks set forth in the annual report of the executive council and the keynote address of President William Green were these: To oppose "to the full extent of silver issue, karate item, loianng ji,iH,3.'a. a collection of "oriental fables." Program for Labor Outlined at Detroit American Federation of Labor Opens Convention With Addres by President Green. antee fund was busted and he had called the bankers (part of them na tional bankers) to determine the best plan of breaking the news to the public that the operation of the guar antee of desposits law was to be dis- "It seems the Intention was to kill "s power the effoffrts of employers the bank guarantee law and lay the to control their employes to join blame for the same on the preceeding company unions. Brvan administrtion. , To continue a vigorous national Vital to Businss. campaign for the abolition of child "The governor did not seem to real- aDOr: ire that the bank guarantee of de- Oppose Red Propaganda, .posits law was a vital business prop- Encourage co-operation between osition upon which the soundness of workers and management in the con not only state banks rested, but also duct of industry with a view to re igave to national banks the confidence ducing production cost for the bene of the common people, and that the fit of all; entire business statbility of the state Oppose a rapidly developing sen was dependent upon maintaining the timent for the abolition of the di confidence of the bank depositing pub- rect primary system; lie in the absolute safety and security Resist without quarter the sub of their deposits. versive propaganda of Russian sym- that the bank guarantee law was pathizers within the ranks of Ameri- purely pouiicai, ana mai li woum ue can iahor- good politics to kill it. please some of his big national bank friends and get rid of a law that the democrats created for the protection of the com mon people and business men.' The report to me st2tes that the governor had his secretary of trade and com merce (a national banker with no ex perience as a state banker and only a limited experience in banking of any kind) read a financial report of the guarantee fund which showed Stimulate agriculture elements to a keener i-ppreciatloa oC the neces sities of co-operative organization for improvement of the farmer's posi-4 tion; Work for the five-day week of 40 hours throughout American Indus try. , Attitude Toward Mexico. Approximately five hundred dele- the gates, Including fraternal represen- . tations from Mexico, Canada and sev Two other items which the state treasurer also declares should be car ried as separate funds and which he originally listed so on his report were removed at the last minute upon ob jection of the state auditor that no special warrants for them had been printed and they could not be car ried separately unless the warrants were ready. They will appear as separate items on the treasurer's report for next month, Robinson said. If they had been so listed this time the deficit, as shown by the report, would be $1,944,275 instead of $1, S1S.606, Robinson admitted to news papermen. Examination of the books of tho state treasurer show that since Oct ober 1, which is the last date covered by the report, the treasury has spent $421, 50S and taken in only $182. 508 which means that it is today $239,369 worse off than it was on the date of the report. This additional deficit created in the last five days, if added to the deficit on the firs of the month of $1,944,275 bring? the total deficit to date up to 2. 1S3.644. Besides these, examination of the cash books in the treasurers office revealed that there is a total of $768,326 in seven other cash funds, all of which should be separately kept in that none of them may be used under the law for the payment of other bills. If this figure were added to the total deficit as outlined above the ac tual total to date would be brought up to $2,951,970 or approximately three milllio dollars. What Law Authorizes. "Under section 6186 of the stat utes the treasurer is authorized to invest not more than 60 per cent of the current funds in warrants." Rob inson says in a special statement issued with his report. "This means that 40 per cent of the idle current funds cannot be borrowed, but must remain on hand. Forty per 'cent of $4,197,547. which is the total of cur rent funds is $1,679,019. - "There is still on hand after de ducting permanent trust funds. $2, 378.941. So there is still $699,922 available for borrowing to pay cur rent bills." Robinson in his statement ecores the custom of figuring in fictitious "balances" in the general fund at the end of the fiscal year when mak- McMullen. There never is a balance in the general fund actually speak ing, Robinson says, because the mon ey is appropriated for use by depart ments and even If there remains on hand what looks like a balance, out standing warrants wipe It out some times the next day. "In calculating the tax levy," Rob inson said in his statement, "gen eral fund resources should never be considered, in an effort to reduce the state tax levy, unless the liabilities of the fund are also taken into ac count. If the liabilities had been taken into account no general fund balance would have been available. Says Warrants Certain. "It has been customary for the tax board to leave the matter of computing the tax levy to the tax commissioner, who is paid a salary of five thousand dollars a year to do the work. The governor and tax commissioner (who is an appointee of the governor) fix the levy, and the other board members simply acqui esce." "It is only a matter of a short time until we will have to begin re gistering warrants," Robinson ad mitted. "Will the six hundred odd thou- Bankers in U. S. to Float Loans for Stinnes Firm Two Holding Companies Are to Ba Organized in America Soon. CITY FACES BIG DEFICIT Berlin, Oct. 7. Hugo Stinnes, son of the late industrial magnate, today announced that negotiations had been completed between the Stinnes family and an American banking sydicate for a loan. It is the inten tion, he said, "to combine the whole interests of the Stinnes family into two holding companies in the United States." "The companies," he added, "will float in the American money mar ket two loans at 7 per cent to a total of 25 million dollars." In the first company, it is ex plained, will be combined all the in terests of the Stinnes family, which were the foundation for the develop ment of the elder Stinnes' firm coal sand dollars you still have left to .mining shares and all industrial borrow be enough to take up the de- plants connected with the mining in- ficit for this month?" he was ask ed. "I think It will," he said. "Then it is ouite- likely that November, possibly on the day after Philadelphia, Oct. 7. The sesqui centennial international exposition Is a finansial failure, Mayor Kendrick said today. It opened June 1 in cele bration of the 150th anniversary of the singing of the declaration of in dependence and less than five mil lion persons have passed thru the gates, leaving the city shoulder a big deficit. "The financial failure of the ex position," said the mayor, "has been due, not to the management, but to the failure of the people to go there. While we should have had 25,000,000 people in attendance, we have had less than five million. E Announce Soon Belgian Scheme to Steady Franc Foreign Loan of $50,000,000 $60,000,000 Is Expected to Be Included. to Brussels The Belgian government under the dictatatorial powers re cently conferred upon it by parlia ment, is expected to announce ho;t- L. Austin, director general, says ly .a plan for l;ie stabilization of the the exposition is running behind be tween $25,00 Oand $40,000 a week in operating expenses alone. Unpaid claims of contractors aggregate more than three million dollars. Beigian franc. Tins will include a foreign loan of trom 50 million dollars to 60 niU Mon dollars o which New York will be expected to take at least half. The remainder will be distributed to Lcn- CHTJBCH EDITOR RAPS APE LAWS ri Amsterdam. Berlin ad Batle' (o fettps have been taken to negotiate Chicago, Oct. 8. Fundamentalists however, nor hai ti,e who secured the passage of laws in -cabinet formally announced its deci- DIUll. M. Tennessee, Oklahoma, Mississippi,! Honth farnHna and Turns fnrhlriding' ' Franck, governor of the Bank with transportation facilities in Ger many and foreign countlres, includ- in: ing ships and river craft. In the second company will be election day, warrants will have to combined a! tne Stinnes family In- the teaching of evolution have set up f Belgium, who has been In Lon- an autocracy and a state religion. Dr. I aon. "aay reiatea to tne council o: Alhprt c Diffenhark. editor of the ministers the result of his London dustry and also its coal business J Christian Register declared Thursday conversations. Although no state- night at the Illinois Unitarian state conference. "The action of fundamentalists in ment was issued, it is understood that he Informed the cabinet that the principal banks of issue in countries be registered as unpayable, isn't it?" Robinson smiled knowingly, but did not answer the question. STOP AT GRADE CR0SS- terests not connected with the main industrial firm. "The intention is," Herr Stinnes statement says, "to dispose partly of these inteersts during the coming LNtra, XJiw .nc fJ,o Nation, as such, outside of the liber- the owner of all of the shares of the, , , in ttion of the Bible and this has been made mandatory," he said. "Many liberal church people in all parts of tho north are opposed to this form of state religion but no denom tifrt, roiifnrniii hna massed an first company. The dominating ordinance requiring that all automo- terest will remain in the hands of biles make a complete stop before the Stinnes family, who will also crossing railroad tracks. Commenting retain active management. The issues on the measure. R. J. Clancy, ofllcial of the two companies will be taken in general charge or sarety for the over by an American banking syn Southern Pacific Co., says: Idicate. 'It is the belief tlit requiring driv-j "The obligations of the Stinne? ers to stop will result In looking in flrm to German banking interests both directions and making observa- wjh be paid off by this transaction; tions which will safe guard against tbe surplus from the loans will be accident if a train is approaching. It usei by the two companies as ad is the further belief that when re- djtional working capital." quired to stop, drivers will not ap- The am0unt of these obligations proach crossings at a speed so high has been given as approximately 20 that they cannot stop before running million uonarg. The principal firms into trains, a condition existing in ,Q the syndicate are Halsey Stuart & more tha one-fifth of all grade acci- Cq a q Becker & Co and New- deJ8" u i DT,,, , r,. man Sanders & Co., all of New York. In the last eight years, ended De-( cember 31, ivzo, l.ofs auiomoonea struck trains of the Southern Pacific instead of being struck by trains, and 197 skidded into trains, resulting from approaching track at a speed MONEY FOR COTTON MEN Tennessee and other states was not, having the gold standard have pro against evolution but was a positive mised their aid to the Belgian nation - assertion of the literalistic lnterpre-fal bank as soon as the government minKs it opportune to aiiempi 10 stabilize the franc and as soon as it has floated the necessary foreign loan. The financiers who gathered in London to discuss Belgium's stabili zation program included Pierre Jay of the New York Federal reserve bank. Dr. Vissering, head of the Netherlands State bank; Her Bach mann, governor of the Swiss National bank; Dr. Schacht, president of the Reichsbank. and Montague Norman, governor of the Bank of England. M. Franqui, minister of finance in al churches, has been courageou enough to attack directly and as a body this attitude of fundamentalism." WILL YOU HELP For the fifth consecutive year fire I waste in America exceeded the half. billion mark, and in an ascending the Belgian cabinet, who participat ed in the preliminary sessions, is un derstood to have laid before the scale, with each 12 months showing augmentation of several billions, while the annual sacrifice of life hovers around 15,000. Led by the National Board of Fire Underwriters and the National Fire Protection Association, all national, state and local organizations and pub lic ofiicials from the president down, bankers an outline of Belgium's pres ent financial position, pointing out that the budget has been balanced and that taxes have been increased 30 per cent. It was said in official quarters today that M. Franqui plans to resign from his post when the measures farm loan board has extended a $30,- nrn nrenariner to make Fire Prevention Week. October 3 to 9. memorable in i preliminary stabilization the minds of the neoDle. hoping to . have been taken check the dread total of last year's record-breaking fire loss of $570,- above the braking nower of the ma-'; 000,000 credit to co-operative market-l chine. BRIDE ONCE A SERVANT New YorW. Oct. ing' associations that have been nit( DOCTOR INDICTED AS DEFRAUDER hard by the slump in cotton. Chair- man Williams or tne Doara. in uu- cnicago, uci. . ur. ueorge run HIGH COURT HEARS HENRY BARTLETT PLEA Lincoln, Oct. 8. A plea for a new trial for Henry Bartlett, now in the state penitentiary under sentence of death for killing a peace oflictr near (Bud) Stillman, eon of Mr. and Mrs. A;A ... ... - T ftnu;not0H C mi .1 i 71 V ZZL, , in LnlZ that additional credit would be re- der of his foster eon, William McClin-: torney, George A. Adams of Lincoln, of the most prominent families in New, quired tock wag reported indicted Thursday i The alleged refusal of the trial Judge xorK, is engagea to ariJ The money will be made available: by the county grand jury as alleged! to permit a change of venue errors p - v.uv. ".o """"" a,onrl uill V, ncarl in tho marketing of servnt. FOR SALE 3713. fund was busted T,alei4-w Te CliTrTTi 1 ornl Purflnpnn nuntripti AQftPTnTilert "Some of the state bankers nres- for the initial sessions of the con- ing next years levy, a custom which ; China boars.- ent, knowing that the guarantee vention today. was followed this year by Governor, iso fund was not broke and that the gov- The business program will con-; ernor's plans would not only break tinue through this week and next; " the fund, but would break the banks Declining to take the position of as well and play havoc with business Interfering in the internal problems of the state in general, called upon of a enighboring state, the executive the bank guaranty fund commission council report took notice of demands for a statement as to the condition of from various quarters within the the guarantee fund, and it was shown federation for severance of relations that the guarantee fund was not in with the Mexican federation of labor distress and these state bankers put with the statement that "we believe up such a vigorous protest that the that the MexiCan labor movement ,Po aVj B e bank suarantee should exercise unrestricted author law had to be postponed ity to make decisions for Mexican jrroposea oaie oi Assets. 'labor and to adopt policies to be me next attempt to kill the guar-, pursued in their labor problems." antee law was the effort of this re-; publican administration to force the pyt-nvx.,, tttm-dc sale to the highest bidder all the aa-t"ioOxt JUMPS 6ets the state has on hand belonging) FROM FAST TRAIN to failed banks. These assets at a forced public sale would not bring Lincoln, Neb., Oct. 7. Frank yruuauiy more man 10 or zu per ceni Chapman, 27, a federal prisoner, number of Spring Mayabb. this year's cotton crop. The demand for credit hasbecome acute In recent weeks by the down ward trend in cotton prices and the Poland action of the farm loan board Is in in instructions and lack of sufficient ing banks of several hundred thous-; evidence to justify a conviction were and dollars by raising loans on spur ious stock certificates. the principal reasons urged for the granting of a further hearing. George W. Ayres, assistant to At- RnsiTio t.nT,r m-mrm m-nA "rney oenerai fapniman. appeareo in . " . . , f' r-o---- behalf of the Phone line with other efforts take by various, u ninua ui juu yruiuux at ,iic wui-, turning of the conviction in district 4sw2tewdo4 state agencies thruout the south. nal office. court. of their face value. This would have jumped from the window of a special fit ifnne 8taite ba?k8 SVen ?r car ln whIcn he and 33 other prison-! TJ?1J!1 dollars ?f ssments er3 were being taken to McNeal Is-! fZ:rTn r' r i1 Z1" Washington, shortly after Bur h,,t the mxrxnt :r7nXa Tvin 7Z1 nton traln No- 41Milford, Neb.,' law. The state banks were compelled sday night. to again protect themselves by over- , Seven prison guards and Burling riding the governor's plan to kill the ton a"road Spscial agent Carroll euarantee law nnrt r .iimt, wre with the prisoners, Special about 60 per cent of failed banks. Agent Carroll joining the party at ; Appointments Next Step. Lincoln when the train arrived from "The next step against the wahep "J ?ingto r' untM law lo vwn ir, v, - where he was to be relieved by an- by this administration of national other special agent. He wired Spe-j bankers as bank examiners of state " , J1Keui IBUs ai ncoin irom (banks and inefllciency of the bank-iYoTrk 'the escape. ing deoartment to nrotet tho laran. Lincoln police, county and state tee fund in the Panillion bank fall- officers were notified and oflicers sent! ure of 400 thousand dollar although;10 watc& roads and search for the notified one year before of the banks escaped prisoner, condition by Mr. Steffen a bank ex aminer holdover of my administra tion. "In my personal platform and ln the democratic state platform we pledge the people to maintain and up hold the bank guarantee law with out weakening it. As the republican! FISH AND WIFE GONE, DRIVEN TO SUICIDE Somerville, N. J. Oct. 6. The story of a man who was driven to suicide by the Iobs of his wife and state platform or their candidate for; a catch of fish was told tonight to governor has not endorsed the guar-! Somerville authorities by Stanley aniee or aeposita law, and as it would "earsarseK. He said he, Stanley Sab please Senator Norria and give as- otka and a third man were fishing surance to the people of the state. I off a railroad bridge over the Raritan hereby challenge Governor McMullen river tonight and after a sizeable u puDiicry pieage the bank deposi- catch was made, the third man leaped tors of Nebraska with me, that which- to his feet and ran away with all ever of us is elected we will promise the fish. As the remaining two start-1 to veto any repeal of the bank guar- ed for home, Hearsarek said he reach antee law and to veto any amendment ed the end of the bridge and looked ' to the Kuar&ntea of donnnita law that i i- . . cu , vm.m ww u ' - .""V" "i 8"e aanowa in tne path of a u namiug, near- FOX SALE Full blood, certified Buff Orphlng ton cockrels, $2 each, also white rock pullets $1 each. Mjs. John Rice, Murray, Nebr. s27-3w-aw sarsek related, S&botka sat down on the ties and shouted: "Myjvife ieft me, the fish are gone, so I might as well be gone myself." TBUCOTQOP ALL KINDS ' . . - a , . . . i uunus opeci.ny, out care ITetd help? Ton cam get it quickly riven to all work entrusted to by plaefng yemx ad ia the Journal. Chas. Dyke, phone 29J.2. o2-lwd&w; WARM OUTING FLANNELS Light and dark grays. 27 inches wide. Fine quality, good and warm. SEVEN yards for PRINTS AND PERCALES At tractive light and dark colors. Full yard wide. 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