PLATTSMOTJTn SEMI - WEEKLY " JOURNAL
THURSDAY, MARCH 27, .1930.
PAGE TWO
Employment
Remains at Sta
tionary Basis
Increase in Industrial Production.
With Wholesale Commodity
Prices Downward.
Washington Little change from
the low point in employment reached
in January was reflected for Febru
ary in the federal reserve board's
summary of business and financial
conditions made public Sunday in its
monthly bulletin. The board said
that industrial production increased,
employment remained stationary, and
wholesale commodity prices and
money rates continued to decline.
Credit extended by member banks
was further reduced in February, but
increased in the first two weeks of
!March.
"The volume of factory employ
ment, which had reached a low point
for January, showed little change
in February, when an increase usu
ally occurs," the report said. "Fac
tory payrolls Increased during the
month, but a smaller amount than
is usual at this season. In the steel,
automobile, agricultural, implement,
and tobacco industries, employment
increased during the four-week per
iod, while further decreases occurred
in the cotton and wool textile, lum
ber, automobile tire, electrical ma
chinery and machine tool industries."
Wholesale Prices Lower.
The summary said that the bureau
of labor statistics index showed
whole prices during February at 92.1
per cent of the 1926 average the
lowest point sin January. 1922.
"Marked declines occurred during
the month in the prices of many agri
cultural products." continued the
summary, listing "grains, hides, raw
wool and cotton"; certain imported
raw materials, notably sugar and
silk; and in textiles, petroleum and
pig iron.
"During the first part of March a
number of these commodities declin
ed still further in price," the sum
mary said. "Wheat and cotton prices
were considerably lower, and silver
reached the lowest point on record.
By the middle of the month, however,
prices of cotton, hides and silver had
recovered somewhat."
Production increased about 2 per
cent in February, the summary said,
the increase reflecting chiefly a sub
stantial gain in output of iron and
steel. Automobile production was
larger in volume than during Janu
ary, the summary said, but was 30
per cent smaller than that of a year
ago. Cotton and wool consumption by,
njills. was given as substantially' low-:
er, and production of bituminous coal
and copper "also decreased."
' The output of steel mills during
the first two weeks of March declined
in comparison with February, the
bulletin said, "contrary to the usual
seasonal movement." Bituminous
coal output also was smaller, it added.
No Change in Building.
Building contracts were about the
same in volume as in the preceding
month, the summary said, adding:
"Residential building continued at
an exceptionally low level, while con
tracts for public works and utilities
were large in comparison with the
corresponding month in other recent
years. Awards in the first two weeks
of March were larger than in the first
half of February."
Liquidation of credit at member
banks continued thru February, the
summary said, "and on Feb. 26 total
loans and investments of member
banks in leading cities were in about
the same volume as in the early sum
mer of last year. During the follow
ing two weeks, however, there was
an increase of $230,000,000 in loans
and investments, chiefly in loans and
securities. All other loans, largely
for commercial purposes, increased
slightly.
"From the middle of February to
the middle of March, the volume of
reserve bank credit outstanding de
creased further by $90,000,000," the
summary added. "This decline re
flected chiefly an increase in gold
stock of $75,000,000 and a further
decline of money in circulation, off
set in part by some increase in mem
ber bank reserve balances. Member
bank indebtedness at the reserve
banks declined to $267,000,000, the
lowest level since early in 1925; re
serve bank holding on bills declined,
while those of United States secur
ities increased.
"Money rates in the open market
eased further and bond yields de
clined .to the lowest levels since
1928." State Journal.
ATTACKS KEEPER, ESCAPES
Morristown, N. J. - Alphonee
Mieri, arrested at Blair' academy,
where he was a student, on charges
of Murder and robbery, escaped Sun
day night from the Morris county
jail after knocking the night keeper
unconscious with a club. The youth,
who is nineteen called the night
keeper, Arthur C. Fairlamb, to his
cell, hit him with the club he had
concealed and with the keeper's keys
unlocked his wayto freedom.
Mieri was indicted Wednesday by
the New York county grand jury on
charges of murder and robbery. He
is alleged to have been one of four
young gunmen who on Jan. 26, last,
held up a cigar store in New York,
during which an unidentified negro
was shot and killed.
Alarm of Mien's escape was given
by the keeper when he recovered
consciousness a half hour after the
escape, and every available state
trooper began scouring the country
side for him.
Industrial Out
put is Reported
on Increase
Decline Noted in Wholesales Com
modity Prices and Money Rates
Work Holding Up
WnciiinPtnn n C... March 23
from the low noint in
employment reached in January was
reflected for February in the federal
reserve board s snmmary oi ousine
and financial conditions made public-
today in its monthly bulletin.
The board said that industrial pro
duction increased, employment re
mained stationary, ana wnoiesaie
onmmnflitv nrirps and money rates
continue to decline. Credit extend
ed by - member banks was further
rHnrod in Februarv. but increased
in the first two weeks of March.
."The volume of factory employ
ment, which had reached a low point
for January, showed little change in
vahruarv when an increase usually
occurs,"" the report said. "Factory
payrolls increased during me monin,
but a smaller amount than is us
ual at this season.
Auto Employment Up.
"In the steel." automobile, agricul
tural implement and tobacco indus
tries, emnlovment increased during
the four-week period, while further
decreases occurred in the cotton and
wool textile, lumber, automobile tire,
electrical machinery and machine
tool industries."
The summary said that the bu
reau of labor statistics index showed
wholesale prices during February at
92.1 per cent ot the 1926 average
the lowest point . since January,
-"Marked declines occurred .during
the month in the prices of many
agricultural products." continued
the summary, listing "grains, hides,
raw materials, notably sugar and
silk, and in textiles, petroleum and
pig iron.
Steel Output Cut.
Thp oiitrmt of steel mills during
thf first two weeks of March declin
ed in comparison with February, the
bulletin said, "contrary to the usual
seasonal movement. Bituminous
c6al output also was smaller, it added.
nnildintr contracts were about the
same in volume as in the preceding
month, the summary said, aamng:
"Residential building continued at
an exceptionally low level while con
tracts for public works and utilities
were large in comparison with the
corresponding month in other recent
years." World-Herald.
Aa Another was that the British
planned to make an important state
ment at 9 o'cloclt tnis evening, uui
th hnur naased and the British press
conference resulted in nothing.
- From Paris came reports or resent
ment against the British press, which
was accused of carrying on a cam
paign to place on French shoulders
the responsibility for the "failure" of
the conference. wona-xieraiu.
EX-WEST POINTER
HELD F02 ROBBERY
fTifnrn March 22. James Walk
er, captured Friday in an attempt to
hold up the First National bank of
RJverside, revealed himself today as
hp son of a prosperous grocer of
Chester, S. C, and for two years a
cadet at West Point.
MAY REDUCE NUMBER
OF GREEK HOLIDAYS
Athens. March 22. Aommittee
appointed by the Greek government
to study the reasons for the relatively
small output of Greek workmen re
commends that the government cut
down the number of national holi
days as a remedy.
Legal Blanks of all kinds for sale
at the Journal office.
MAE WEST PLAY
TRIAL ENLIVENED
New York, March 24. -The song
and dance act of the state against
Mae West and her pleasure men was
enlivened somewhat Monday by the
appearance in court Monday of one
o fthe missing 47 codefendants, Alan
Brooks, who ployed the part of Pleas
ure Man himself, and who arrived
from the road tour of Fritzl Scheff
in "Mile, Modiste."
Mr. Brooks appeared in Judge
Bcrtini's courtroom just in time to
hear the dismissal of one count of
the triple indictment that of main
taining a public nuisance. The re
maining two counts are staging and
authoring an "improper, indecent,
immoral and obscene" play.
LAMONT'S SON SUED .
IN $25,000 ACTION
Denver, Colo., March 25. Robert
P. Lamont, jr., son of the secretary
of commerce, was made defendant in
a 25 thousand dollar damage suit
filed in district court here today.
Jewel A. Ball, the plaintiff, claims
the damages for injuries 6he incur
red when struck by Lamont's car
here recently. ' Young Lamont lives
on a large ranch near Larkspur,
Colo.
TRIBUTE TO DEAD AIRMEN
Seattle, March 23. Seattle paid
final tribute Sunday to the memor
ies of Ben Eielson and Earl Borland,
aviators, .who went to their death In
an airplane crash near North Cape,
Siberia, last November. The bodies
were recovered after months of
searching and brought to Seattle
by plane, train and ship, the steam
ship Alaska bringing them here from
Seward, Alaska. The Alaska arrived
Saturday night many hours overdue,
having been buffeted by headwinds
continually on the trip south. As a
result of the delay, funeral services
originally planned for Saturday
were postponed until Sunday.
Hundreds of Seattle residents
waited patiently at the dock for the
Alaska to arrive Saturday night and
stood reverently by as the bodies
were escorted through their ranks to
the mortuary.
With the Alaska docked, Mr. and
Mrs. W. E. Borland, parents of Earl
Borland, and Miss Adeline Eielson,
sister of the flier, went aboard to
meet relatives who had accompanied
the bodies' to the states from Fair
banks, Alaska. Ole Eielson, father
of the pilot, returned with the body
of his son. Mrs. Earl Borland, with
her two small sons, also came south.
HOUSE PASSES BUS , BILL
Washington The first act by con
gress to place interstate motor bus
traffic under government regulation
came Monday with passage by- the
house of the Parker bill to .give the
interstate" commerce commission jur
isdiction over the motor carriers. The
final vote was 215 to 118, after a mo
tion to rend the measure back to the
Interstate commerce committee for
amendment was rejected by fS to
104. It now goes to the senato.
In addition to regulatory powers
over rates and schedules, the federal
commission, with . the aid of joint
boards composed of representatives
of states involved, would be required
to pass on applications for certificates
of necessity and public convenience,
which the bus lines would be called
up to secure. The bus operators also
would be compelled to carry surety
bonds for the protection of the trav
eling public.
BULLITT GETS DIVORCE ,
I
Read the Journal Want Ads.
Philadelphia A divorce -was
granted Monday by the court of com
mon pleas to William C. Bullitt, au
thor and diplomatic agent during the
World war. He filed suit "Dec. 4,
charging his wife Mrs. Anne Moen
Louis Bryant Reed Bullitt, with "per
sonal indignities."
.EXPLOSION ON CRUISES .
r.Dnevii The dinlomatic 'confer
ence called by the League of Na
tions to consider proposals lor an
International tariff truce adjourned
unnHav rMtrht after adopting a two
fold scheme that falls considerably
short of the original objective, one
part of the scheme agreed upon was
a convention embodying engagements
to undertake a limited program of
economic 'co-operation tor tne con
solidation of customs -duties. Repre
sentatives of elev ncountries signed
this Monday night.
.i .i ..-o o i nrntnnnl
A 11C DCI.UI1U J ' 4 . ' x-
providing 'for further negotiations
among ine coumnns, incimnus .
paratory study.of the economic need3
of each state and the inter-relation
fifteen states signed, this,
TR0BAUGH FILES 2ND -APPEAL
Lincoln, March 24. Sidney A.
Trdbaugh. twice convicted iYr Adams
county for the murder of his wife,
Sarina, appealed, again . to the su
preme court Monda'. from .the latest
judgment., , ,
The jury found that he" shot his
wife with a revolver on Nov. 13,
192S) and pronounced him guilty of
second degree murder. The- jurge
sentenced him to 25 years.
Premier Turns
to Three-Power
Navy Agreement
Hopes for a Limited Five-Nation
Pact Based on Tripar
tita Accord.
PRESIDING BISHOP TO NAME
Chicago The third presiding bis
hop to serve within a year will be
elected here Wednesday at a special
session of the house of bishops of
the Episcopal church in the United
States. The convocation will be the
t-econd within the last four months
for the purpose of selecting the eccle
siastical head and president of the
national executive council of the
church.
Among thoe discussed as likely
candidates for the office are the
ltight Rev. Hugh Latimer Burleson,
bishop of South Dakota and assistant
to the presiding bishop for the last
live years; the Rt. Rev. James E.
Freeman, bishop of Washington, D.
C the Rt. Rv. Ernest M. Stires,
bishop of Long Island, and the Rt.
Rev James De Wolfe Perry, bishop
of Rhode island. Church officials be
lieve the dean of the house of bis
hoos the Rt. Rev. William A. Leo
nard bisbop of O'jIo and acting pri
,,vife' will decline the nomination be
cause of his advanced age. .
London," March 23. Prime Min
ister Ramsay MacDonald came back
from a week-end at Chequers tonight
to search the somnolent naval con
ference headquarters for the material
with which to build a fi-epower naval
pact of limited scope but resting on
a tri-partite agreemnt among the
Americans. British and Japanese.
He will begin the preliminary
phases of this work tomorrow. When
the Japanese have received word from
Tokio about the tentative Japanese
American arrangements, the fate of
the treaty envisioned will be settled,
and if the word is favorable, it can
be rushed to completion within two
weeks.
Throughout the day Mrr MacDon
ald waited at Chequers, as he had
waited yesterday, for word from eith
er the French or the tlalian delega
tions of some new development that
would enable them at least to get to
gether again at the conference table.
Italy's demand for parity and
France's resolute refusal to accept it
with her still forms the chief barrier
to" the progress of negotiations.
The only statement of the Brit
ish spokesman tonight was that the
conference continued in full confi
dence that the French delegation soon
would return. The British and the
Americans will meet tomorrow morn
ing. - With no real developments in con
ference activities, rumors took the
place of news today.
One was , that Secretary of State
Henry L. Stimson had had a two-and-a-half
hour conference with Mr.
MacDonald. today, but this vanished
when it was learned tha Mr- Stim
son had remained, at Stanmore all
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