Image provided by: University of Nebraska-Lincoln Libraries, Lincoln, NE
About The Omaha morning bee. (Omaha [Neb.]) 1922-1927 | View Entire Issue (Dec. 13, 1924)
American Loans I to Europe Total r Billion in 1924 _ |Prings U. S. Peace Time In v vestment to 10 Billion Dollars; Used to Stabil ize Exchange. Waahlngton, Dec. 12—The magnl tude of American financial operations -Abroad wan revealed today when the federal reserve board announced that ^foreign countries borrowed $1,100,000,. 'WO from American bankers during ijhe first II months of 1924. ,, This places American peace-time jSThvestments abroad at approximately 0,000.000.000. W New capital issues were three ■'Vinies as great as 1923 and substan jtiilly greater than during any j'ear aince the war, according to the board. ; A* part of the loans extended to jpu-elgn countries was for the sta J>!lization of etichange on monetary Reforms, the federal reserve board de Glared. i ■ See Increased AfarUet. j Sj The opinion was expressed that a -ter demand fqr American goods "v H result from this exportation of S«? ; Ital. About four-fifths of the out ov id flow of capital represented new ijtivcstmetjfs.- Of the - ne\y issues, Jf pproximittelj' 75. per -c^nt were bar * v.-ings by foreign governments and| S^5 per cent by foreign corporations, ©tali the borrowing was by European ■Wi'tion s, 3* "In contrast with the usual sea Si'nnl decline during the late summer >?Wnd early fall, several of the. leading eSJCm-npean exchanges have had a ^(narked rise," the hoard said. "Exchange of, such countries as f Austria, Germany irfid Poland, which ’have been stabilized with reference ©I gold, have during this period main ITOilned their rates practically at par. "Dutch florins and- Swiss francs Atiuoted during the f'rst iiuarter of the !|?ear at substantial discounts, have jfHbeently returned to parity, and fluc ^uitiona in French and Belgian affiance have been much narrowed. Pound Advances. •j?C> “The British pound, which at this Ain ison usually declines as a result of tl1arge payments for exports from the ^United. States, has this year advanced ■Pfrom $3,51 in June to $4.63 in No Vember. when it stood about 5 per •'Cent.” Federal reserve officials declared rflhat the flotation of foreign loans jjjjas been stimulated by low le,vel of ■rihoney rates In the United States, Contrasted to-higher rates ahroad. In fjtecent jnonths, money rates in London tljave tWn higher than in New York, & unique situation in the financial .tworld. r ' ' ..j Moey fa reported to b« extremely frtight”' In 'Europe; indicating that a? fthe new year approaches, the hanks -of this country will be railed upon to ' fjfloat vast loans both for foreign gov ernments and corporations as well as American corporations with projects abroad. The board pointed out that a great ^.qjortlon of the money borrowed in the :.~Unlted States has been used to pur I Ji*hase goods In this country for ex '■fport abroad. i BURGESS-NASH TO BRANDEIS (Continued From rase Onr.l f.;bave been secured, all might have fibeen well.” 8582,435.77 Cash raid. ' J Harry B. Zlmman tendered checks I -'-totaling: $522,45^.77 as complete cash payment shortly bcforo noon, and ^ they were accepted by Receiver Dan -lei. The receiver Thursday accepted ;~,a chock frdm the Brandels Surplus ” i >rporation croup for $00,000, bring ing the total payment up to $582, ; -•/53.77. Tho bl«V‘offered was $1,080. ^ 170, less $107,544.23, cash assets, of ■ 'a? Burgers-Nash company which .’."'averp reserved from the sale by tho ■'/jj eeetver. Bank and noteholder creditors with "♦t n Interest of approximately $1,100. 7TOO and merchandise creditors, Inter rested to the extant of approximately 500.00(1. joined through tlibir attor ■ tneys in ijetitlonlng the referee in ^.bankruptcy to accept the Brandeis ;'l-iurplue Merchandising corporation .'‘■‘joint bid as a quick means of set j-Jz-dlemcnt. 10 Cents on Dollar. These creditors Will receive at least •■i-Ao cents on the dollar, and perhaps .Tiuore, as a result of the deal, accord *£ >ng to J. A. C. Kennedy, counsel for s-y-banks and noteholders. Mr. Kennedy ■ -announced that no Omaha bank Is a '"large creditor and that only $5,000 •jfhvorth of Burgers Nnsli paper Is „.,beld by Oniaba banks. G, Stockholders of the profit sharing -9>tock outside of Nebraska, whnso Aruoney has not beeri- refunded, be J.i-ome general creditors to tho ap -'’proximate arpount of $150,000. vi Referee Dunham ordered Receiver .^Daniel to permit the purchasers to keep possession of the present i^premlses for "a sufficiently reason Stable length of time In which to' han ^kdle, dispose of and remove the prop *'Vrty sold to them,” but adds that #»”such occupancy shall not Impair the /^■superior and continuing possession of •yjlie premises by the receiver." $90,090 Rent Boost. w* The Burgess-Nash company has f; been paying $72,(too a year for Its -lease on the e»st building, which is Clowned by the Baums, according to ®iattorneye. who say that following tho ^.receivership Baufn asked for a $50,000 ■5' increase. The lease was to have run F^for 1* years more. On the Nash jjr, building, which formed the west part jjiof the company premises, the com t*“pany was paying $10,000 a month, but latfely the Nash Interests, as a special concession, have been accept ing $0,000 a month. $■ Attorney said the company has pnld Its rent up fill the first of the year „ on both buildings. Referee Dunham's order Instructs l Receiver Daniel- to protect lc-ise* on > the premises and pay rent, until n ,f trustee In bankruptcy I* elected end t -qualified. Tilts Indicates that, the ‘t referee believes the leases have not become Invalid because of the re * -eslvershlp and sale proceedings. J The sick man Is an expense to his i country. to hts employer, to his jj employer and to himself. Prevention ■%. 4 profit, , . u * 4 • ~--— Special Dispatch to The Omaha Bee. Sidney. Dec. 12.—Only three coy otes were killed in the Bunker hill roundup yesterday. Thirty hunters scoured the hills and vales for sev eral hour*. Only shotguns were used. Clash Is Pending on Sugar Merger National Stockholders to Op pose Plan to Sell Out to American Company. New York. Dec. 12.—Officers and directors of the National Sugar Re fining completed negotiations today tq sell the concern to the American Sugar Refining company for $3(1, 500,000 cash. The sale is held sub ject to the approval of proper legal authorities and of the national stock holders. The latter w 11 vote on the plan at a meeting, January 12, In Jersey City, Meanwhile, the protective commit tee formed recently by some of the National stockholders to prevent the American from absorbing the com pany "will oppose the present prepo sition, fifst, last and all the time,” said Harold G, Aron counsel. Mr. Aron said the committee would pre sent its side ttf the attorney general at Washington next Tuesday. This group contends that the American is restrained by an existing federal court decision from extend ing its present holding of 25 per cent of stock in the National. Any merger would be illegal, in this npirtion, until the decree were modified by the court. Carl D. Babst, president of the American, sai dtliis company would lie rtblo to draw upon its cash on hand and more than $33,000,000 to pay the $12,000,000 required to purchase the remaining three-quarters interest in the National. No financing would be necessary, he said. Special Venire Called in Srhnermann Murder Case Beatrice, Dec. 12.—The jury to try the case of the state against Edward Schucrmann, rharged with the mur der of George Reinmlller at DeWitt, October 10, last, will be selected from a special venire of 50 men and the regnlar panel of 24. The state will use about 15 witnesses and the de fense practically the same. Schucrmann Is held without bond, although several attempts have, been made by his attorney, F. W. Bartos, to secure his release on bail. Judge Moss has announced that he would try the case against Joseph Hubka. charged with assault, and Charles Mitchell, charged with dis posing of mortgaged property, after the murder case. r The judge announced the follow ing committee to arrange memorial services for the late Judge I,eonard W. Colby, Judge Alfred Hazlett, chairman; H. E. Sackett. Judge F. W. Mcssmore, Samuel Rlnaker of this city and Col. John C. Hartlgan /if Fairbury. J. Adam Rrde Opposes Child Labor Amendment Lincoln, Dec. 12.—The world has "outgrown its soul." declared J. Adam Bede, former congressman. In an ad dress hem He voiced opposition to the proposed child labor amendment, asserting: "We ought to have grit and nerve enough In Nebraska and Minnesota to get out and solve our own problems, and not try to shove them off onto the national government.” There should always be two strong political parties rather than factions within one party, Mr. Bede, said, be cause we need one party to run the government and another party to watch and see that It Is run in the right1 manner. Cheyenne Sheriff Ordered to Return $1,600 Excess Fees Special Iljapatch to The Omaha Bee. Sidney, Dec. 12.—Cheyenne coun ty commissioners In session today or derad Sheriff McDaniel to return at once to the county $1,600 excess fees. This action was taken on petition filed by 640 farmer taxpayers. Save Money—Buy All Your Dresses at Thorne’s NEW DANSE FROCKS New Ann Hf< Values Tod,y thZt/s /«) up ,o Only *T4-t/ 1 U $45.00 F. W. Thorne Co. ^ 1812 Fsrn.m JOHN HENRICKSON « The Jeweler Established 1882 DIAMONDS, SILVERWARE. CHIME CLOCKS, WATCHES Walk Two Blocks and Buy lor Less N. E. Cor. 16th and Capitol OSTEOPATHY Gives Direct Assistance to Nature AT act bsijssists Third Party Lays J J Down Program for New Organization Final Decision to Be Left to Convention Scheduled to Convene Within Six Weeks. ■Washington, Deo. 12.—In a guarded room on top the Machinists building here today, a little group of men and women discussed plans for launching in, the United States a permanent new political parly. They were members of the execu tive council of the conference for progressive political action, the or ganization which first endorsed tfte independent presidential candidacy of Senator Robert M. LaFoliette of Wis consin, and which supported him vigorously in the recent campaign. Individually, at least, most of the members favored creation of a new party, a movement seeking the back ing of the workers and farmers of the country for concerted political action In future national and state elections. If the wishes of the leaders prevail, It was Indicated strongly that out of the committee's discussions will come the definite recommendation that the groundwork for the new party, laid in the LaFoliette campaign, be main tained and strengthened. The com mittee can do no more at this time than recommencf. Up tn Convention. The final decision as to the new party must lit} left to the new con vention of the progressive conference, expected to' he called for Chicago In about six weeks. Senator La Follette Is said to ad here to the belief that the new move ment should be huilded slowly to In sure its permanency. He has repeat edly said that “new parties are born, not made." He believes that the people them selves will demand soon a political re alignment and that this should be encouraged by maintaining a perma nent third party organization which should lead the way in consolidating opinion toward a new movement. A spirited wrangle broke out In the opening session when representatives of at/ least two labor unions, affili ated with the American Federation of Labor launched a move to postpone Indefinitely issuance of a call for a national convention this winter. Under a mandate from tha conven tio last July, one of the committee's chief tasks was to set a date for a national meeting in January. Postponement Opposed. The move by union men was op posed by a coalitatlon of socialists and leaders of the La Follette cam paign committee, who charged that Indefinite postponement of the con vention would virtually mean the death of third party plans, at least for the immediate future. The union men whose names were withheld, declared their organiza tions would not go along with any third party movement. Despite the protest of the labor un ion officials, third party supporters predicted they would have sufficient strength to pass the resolution calling for tpe national convention at which they hope to give life to a permanent new political movement. Ijuwa Convict Believed One of Holmesville Robbers Beatrice, Dec. 12.—Pat Carroll, alias Harry Raymond, who has been sentenced to 15 years In the state penitentiary at Fort Madison, la,, for participation In the Little Sioux bank robbery. Is believed to be one of the bandits In the double robbery of two banks In Barneston, south of here, some time ago when Carroll and his gang were operating In Kansas. One of his pais is serving time at Lansing, Kan., for bank robbery. Special Dispatch In Tha Omnha Bee. Sidney, Dee. 12.—When Union ra cific train So. 20 reached here to day a. live pheasant was calmly sit ting atop one of the coaches. Train men chased it off. Father of Five Aids Shoe Fund (rives Dollar for Eae li Child and Adds One for Himself. l*r«*«ioiiffly reported.*272.00 A Friend. Kxeter. Neb. .7.00 Knvmonil Kuolitmt. 10.00 I)orae> . 0.00 T. 8. 2.00 Total .. "(lod bless the kids," writes Dorsey of the Chicken Palace, 1513 Jackson street. "The boy of today Is the man of tomorrow. I have five boys and girls." And he donates a dollar for each of them and on* for himself to help less fortunate children to get the shoes that mean health and possibly even the saving of their little lives. Teachers report that numerous chil dren, from families where the father ia dead or ill, or out of work, are liter ally without shoes or with Just pitiful remnants of shoes that leave their/ poor little feet out on the ground and mean that they get damp and cold every time they venture out of the house. " Many cases of serious Illness In children have developed because they lacked decent footgear and got their feet wet and sat in school all day in that condition. Your donation may save the life of a child. And the greatest of the earth can do no more noble deed than that. Ask yourself what you can give and then mail a chfcck or cash, oi; money order, to the Free Shoe Fund, care of The Omaha Bee. It will be ac knowledged in the paper. Plans to Retain Richardson County Agent to Re Discussed Falla City, Dec. 12.—Whether the county agent's office will be con tinued in Richardson county despite the adverse vote of the last election will be decided at the annual meet ing of the Richardson County Farm Bureau federation here December 19. The office was abolished by a vote of three to one at the recent elec tion, thus necessitating the raising of J3.500 annually from other sources. Supporters of the county agent have started a movement to retain the office under the direction of the farm bureau, membera of that or ganisation underwriting tha agent's salary. They contend that with the abolishment of the county agent's office Junior and women's club work in rural communities will have to be discontinued owing to tha ab sence of a guiding hand. Russian Army to Support Trotzky Red Warriors Refuse to Rec ognize Orders From Mos > cow Soviet Council. By KARL H. VON WIEGAND, Cnlversal Service Special Correspondent. Berlin, Dec. 12.—The Russian red army is rallying around war minister Trotzky and refuses to recognize orders from the soviet executive coun cil aB JMbsrovr. removing .Trotzky us head of the army. This is the substance of dispatches coming out of Russia by way of Odessa and Bu cha rest. Events of possibly far reaching consequences are alleged to he im pending in Russia as a result of the efforts of Zinoviev to oust Trotzky from the army and the councils of the bolshevik government. Eoreign Minister Tchitcherin is as sorted to have taken his stand with Trotzky while M. Rykoff, who was elected In Lenin's place, has tried in vain to patch up peace between Zinoviev and Trotzky. The appointment of Joffe, who is known as the "propaganda ambassa dor," tA be Russian ambassador to Vienna Is creating a big stir at the Austrian capital. It is recalled that Joffe was forced to leave Germany because he made the Russian embas sy headquarters for the communist propaganda and fear is expressed that the sending of .$nffe to Vienna means that that city is to be made communist propaganda headquarters for the Balkan states. "Is Joffe coming to Vienna as s diplomat or as propaganda chief tain?" asks the Vienna Journal. Joffe has lately been on a mission for the soviets to Tokio and Peking. Railways Retire Veteran • Towerman at Superior Superior, Dec. 12.—Charles A Bryan, 55, towefinan at the railway interlocking plant at this city for the past 15 years, was retired from ac tive service by the railways on pen sion today. Byran was in the employ of the Burlington railway 28 years. r He operated a tower at Creston, la., many years ago. and served for sev eral years at the Louisville (Neb.) tower. He was appointed to the Su perior position when the tower was installed in 190!). Ho handled trackage rights here jointly for the Burlington, Santa Ke and Northwestern roads. Bryan lost an arm while acting as a switchman In the Lincoln railway yards In ]90j. Flying Pioneer Submits Charges Aircraft Probe Committee Told of Irregularities in Op erations of Air Service, Washington, Dec. 12. —The special house commitlee investigating tin aircraft Industry, beginning the ex amination of witnesses today on the basis of a six months survey by its experts on the field to he covered, was told by .lames V. Marlin, flying pioneer and Inventor, that numerous Inventions he had submitted to the sir services had not been adopted al though the merit of some of them had been recognized by foreign gov ernments. He also asserted that in considering bids for the construction of planes, the services had not always chosen the best or the most economi cal plans submitted. Representative Nelson, republican, Wisconsin, also appeared before the committee to explain the reasons which had prompted httn to Introduce the resolution under which the in vestlgatlon is being conducted. Evi dence had come to him, he said, which led him to believe that there was danger of the flying industry be coming a trust and he also desired to know how government subsidies to airplane manufacturing concerns had been spent. He emphasized that he I was not making any charges of fraud, his criticisms being purely con structive and .motivated by a wish to fee the airplane Industry put on a sound has ip. Representative Woodruff, repuh l.can, Michigan, also qjiepared before the committee, urging a full investi gation of all matters pertaining to flying. .a..**: a K3 FOR HIM At a Man’s Store f~ NECKWEAR wyA Glove. /'sWsilk and Silk-knit, y/!f'/ ferrjn G'ove? exclusive patterns, f^^^linded— U" ( /\W 75* t0 $3.50 83 t0 89 shirts 4 Beautiful Patterns $1.50 to $8.50 PAJAMAS □ Silk, Madras, Flan- Mufflers nel, new colors. w . $1.50 to $10.00 'ashmere, i n l n i Beautiful Bath Robes and roiorinp, Lounging Robes Vio!oo Beautiful Assort ments, $6.00 to $27.50 Berg Clothing Co. 1415 Farnam St. ft ft | Offering for Saturday •; | Practical, Sensible Gifts i; f —In Our— | j 1i I Pre-Christmas Sale!; i I I Ladies’ Imported English jji » light weight Wool e 4 CQ ;; 1 Sport Hose, $ 1 gg ft ft Fancy Tops. A | ft Same Quality Hose, footless, to wear ft f 7r. .$1.29 !:■ 1 *s j ft Ladles’ High Top Sport QC f ft Shoes, |9.50 values. jj! ft Men’s Sheep Lined Coats.$8-75 ft ft Boys’ Sheep Lined Coats.87.95 ft 1 Leather Coats and Vests.". 88.90 ft (Blanket and Sharp Lined) ft Army Leather Coat.85.95 ft. (Wool Melton Cloth Sleeve*) ft k Aviators’ Leather Helmets ..81.45 ft ft Leather Puttees, as low as.82.50 ft. ft Sweaters and Knit Jackets...83.85 ft | (Valuta to 90.75) • |i ft Our Reputation—Satisfaction or Money Hack ft. iSCOTT’Sl I TOURIST STORE |; ft 15th and Howard Opposite Auditorium ft ft ft i 1 — I New Southern Tie Specially Priced for Saturday at Nut Brown Calf $ A Black Calf ^ 4 __ Black Patent * Shoe Dept.—Main Floor Rock SprmgSc^A? j Lump Size..SI 2 50 **er Nut Size. 511.00 'on ! * UPDIKE ”0& WA Inut 0300 i ’*1 .'.t ! * i %•. , <&. f • < *• '*3 V . ■* £ ‘ • *JT V** * ' . ‘ U‘ - ;; Thompson -Belden \ “ Where One Buys Furs With Assurance Have You Thought of / FURS I as probably the gift that would bring the great est and the most frequent pleas ure? The Little Furs Make Charming Gifts Sable Chokers 65.00 You make your selection from soft, glossy skins at this reduced price. Stone Marten Chokers 39.75 Large, full skins, beautifully marked. 39.75 is a reduced price on these lovely scarfs. Natural Fur Chokers 15.00 Squirrel is always smart, and these are extra large, full skins at a small price. Fox Scarfs 65.00 Luxurious pelts of the favored soft shades: Brown dyed blue and peach. A gift she’ll love. THIRD FLOOR "Christmas Cifts of a Quality You Are Proud to Give j For a Price You Are Clad to Pay” Thompson-Beider ■" ... r-‘ ■’ Annual Pre-Christmas i * Sale of Silk Hosiery 1.95 A saving of 2.35 on every pair. Chiffons, shadow cloxed chiffons, and medium weights in pure silk hose, full-fashioned, silk to the top and every pair I perfect. All smart shades for street, afternoon and evening wear. Street Floor Bath Dusting Large Bottles Powder Toilet Water 75c 1.00 Large round tins of An attractive gift is a sweetly perfumed tal- generously sized bottle cum for after the bath, from Colgate, Melba, and a huge pink puff. Vantine, Palmer, or Hud Quite acceptable. nut. All odors. Street Floor Street Floor Lovely Philippine Gowns 2.95 Additional touches of drawn work and punch work add to these gowns’ attractiveness that is not to be found in every Philippine garment. Excellent qual ities that may be had in several styles: round, square or “V" neckline; sleeveless or with sleeves. Other Philippine gowns for more or for less. Leather Complete *A Billfolds Needlebooks 2.25 & 85c Always an acceptable What would a woman gift for any man. Three- who sews appreciates fold f»ook of pin seal or more th«n a case Tilled morocco leather in black ... _ ,, . or brown, 2.23. Al.o . “"h, "t"11” for, rV'^ three fold book of seal, u*e? Sewmg, darning . 1.00. . and embroidery needles. * Street Floor Street Floor ^ Silk and Rayon Vests 1.39 Knit silk vests in which there are two threads of silk and one of rayon (fiber). Flesh shade—a lovely gift. Card Table Warm Knitted Covers Gauntlets 2.5° 1.25 Black oilcloth covers Sports type gloves that painted ig gay colors. one sees worn with many They are washable and costumes. Tan, brown, will not crack. Score and gray, pads to match, 50c. ‘stroot Floor Second Floor Mail Your Packages Here At our postal substation, downstairs, you may have your parcels post packages weighed and insured without waiting in tiresome lines. Downstairs Store ^ The Best Place to Shop, After .4/r'^25555!.