THURSDAY. DECEMBER 17, 1931 THE DAILY NERKASKAN THREE HOOVER CREDIT PLAN IS EC CLUB SUBJECT Arndt Says Corporation of Little Value in Speech Wednesday Night. MEANS NO NEW FUNDS President Hoover's national credit corporation, as now consti tuted, has done and can do very little, Prof. Karl Arndt of the col lege of business administration told the economics roundtahle Wednesday night. It does, never theless, mark an Important devel opment of American creult. The effect, he said, was meant to be psychological more than practical, and those in charge are waiting now to see what congress will do befote going on with the actual work of collecting funds for loan to needy banks. Explains Structure. Professor Arndt explained the organization of the corporation, its control by a board of directors rep resenting each of the federal re serve districts and the local organ ization thru which it would work in collecting funds and making leans. The actual planning ct the cor poration, he said, was rather the work of the large New York city br,nks than that of President Hoover himself. It was announced by President Hoover to give it more prestige so that it might have the desired psychological effect of loosening credit and restoring con fidences. The most outstanding defect of the plan and the phase most fre quently criticized. Professor AniJt pointed out, is that it does very little to tap any new source of credit. The :unds come from com mercial banks and are distributed aa loans to commercial banks. Many bankers think the same th'ug could he accomplished more efficiently locally within the sev eral reserve districts rather than thru a national organization. Of Little Value. The small advantage it does have is that the debentures sold to raise the loan fund may be used to free some United States bonds now used to guarantee government de posits in banks. The bouJs could then be used to secure loans from the federal reserve system which has much unused lending power and thus open up a new source of tredit. The effect of this is small, however. A majority of the states have refused to allow the debent- J nres to be used t sruarantee de posits of state funds and the only advantage comes trom freeing bonds now back of federal gov ernment deposits. Alternatives demanded by some bankers are: liberalization of the federal reserve law to allow redis count of some paper not now eli gible; creation of new organiza tions to provide an open market for these types of paper; or some such organizations as the war fi nance corporation as suggested by President Hoover recently when he mentioned a reconstruction Fi nance Corporation.- There is little change, thinks Professor Arndt. of doing much with the federal re serve requirements. Any additional credit will probably come from some separate corporation to which the government itself would give loan funds. EPISODES '( By Oliver OeWolf The Sing Sii.g Rock Crushers, bv virtue of their 26 to 0 victory over the White Plains Steamrollers, claimed the World's prison football championship. Their season per centage Is .675. Anyway that is one claim that won't be disputed! From O. O. Mclntyre's enter taining little colu.'iiu, comes the news that Father Conner, a parish priest in New Jersey, under the num de plume of. Pierre Norman t-has written the popular song hits: "Moonlight Saving Time," "I Took My Sugar to Tea," "You Brought a New Kind of Love," and many others. Queer people find their way to Tin Pan Alley, but this is the first time that we have heard of a parish priest becoming a mem ber of the colony. t w But to turn to the more serious phases of the day's news. The re publicans have chosen Al Capone's former home town, as the 1932 con vention city. Cleveland and De troit were only mentioned, and on the first ballot, the roll call showed eighty-six delegates favoring the Windy City, with only fourteen op posed". Later it was made unani mous. This is the first time that the republicans have gone to Chi cago for a nominating convention since 1930, when Warren G. Hard ing was selected to lead the repub lican forces. I wonder what Ben Bernie, the ole Maestro will have to say about this news. Three prominent football men tors have resigned under fire dur ing the past week. Chick Meehan, who raised the New York Violets from among the bottom rungs of the football ladder to one of the leading teams of the country, is thru with big time football. Burt Ingwerson, head football coach of Iowa, is tired of alumni criticism, and has resigned. George Little, director of athletics at Wisconsin, has also tendered his resignation, and it Is expected that Glenn Thistlewaite, head football coach will do likewise. Commenting on football is not unlike commenting Hotel D'Harrrburger Shotgun Service 1141 q st 1718 O St. DO YOUR CHRISTMAS SHOPPING CAMPUS CALENDAR Thursday, Dec. 17. League of Women Voters meet' In? in Ellen Smith hall at 4 o'clock A. W. S. freshman activities group meeting at 0 o'clock In E.1 i Smith hall. Kappa Phi pageant at 7 o'clock in Emmanuel church. , Sophomore Commission, Ellen Smith htll, 5:00. on religion both dangerous sub jects. The republicans and the demo crats are still have a big time try ing to elect a president protempore for the senate. This bit or unrin ished business has dragged along for over a week now, and alter the eighteenth and nineteenth bal lot, the matter is still as much of a mystery as ever. Mr. and Mrs. Ely Culbertson, al tho a little late for the evening rubbers of bridge with Messers Lenz and Jacoby are 425 points ahead. What Is Legal Status of Debt Tostponement? BY JACK ERICKSON. "What Is the legal status of President Hoover's debt morato rium?" Dr. John P. Senning, chairman of the department of political sci ence asked that question before his class of thirteen graduate students in public administration, and there were thirteen perplexed minds. "It's a treaty," declared one. "No, you're wrong. It's a presi dential agreement," offered an other." But they were both wrong, Dr. Senning Informed them. "If it were a treaty, then it would have to emanate from the senate, where it would require a two-thirds vote," the professor ex plained. "If it were a presidential agreement there would have been no need for Hoover to obtain the consent of congress." He invited them to "guess soma more," and tne enure two nour class period was devoted to that subject alone. The upshot of the confao was a "sneaking idea" that the debt plan might be just an "unofficial agree ment." "It sounds good to me," Dr. Sen ning said, and the thirteen disci ples nodded in assent. A precedent in American gov ernment is in the making with the moratorium the professor pointed out. Because it is a "mere agree ment" involving the financial structure of the nation it must needs pass in the form of a regu lar bill, he said. "Thus it will go on our statute books that is, providing at least a bare majority is obtained in both houses and it receives the presi dent's signature," he asserted. 4-H CLUB WORK HAS LIKENESS IN RUSSIA Margaret Fedde Discusses Soviet Children's Program. Speaking before a recent meet ing of the University of Nebraska 4-H club held on the college of agriculture campus, Miss Marga ret Fedde of the home economics declared that the pioneer move ment in Russia today is somewhat similar to 4-H club work in the United States. Though the Russian plan of the boys and girls club work is prob ably not on the same plane as it is here, Miss Fedde said children be tween the ages of ten and sixteen belong to the pioneer movement. Thre are no projects for each youngster but all act as a group. From one to two months during the summer, the children stay in camps. There they are given train ing in organizations, leadership and health. Speaking more generally of con ditions in Russia, Miss Fedde said the object of the five year plan if to industrialize Russia in as shoit a time as possible. One of the no; standing features of the plan is the desire to eliminate illiteracy. Ev eryone between the age of eight until death must learn to read and write. Y.M.-Y.W. SCHEDULE PARTY FRIDAY NIGHT Groups Sponsor Affair for Students Remaining For Holidays. A party for all university stu dents who are staying in Lincoln over the holidays will be held to morrow night in Ellen Smith hall between 7:30 and 10:30 o'clock. It is being sponsored by the univer sity Y. M. C. A. and the Y. W. C. A. Members of the social dancing class which is- sponsored by the Y. W. C. A. are especially invited, according to Caroline White, who with Hellen Cassady is in charge of the social event. Dancing. singing Chri&tmas carols, and games in general, are belug planned for the evening's en tertainment. REMEMBER MOTHER WITH A MARY JANE FROCK Mary Jane Garment Co. 1423 O B265I ALL AMERICA TEAM Sport Fans Nominate Best Football Players in BigPoll. An ail-American football eleven, U.8 first ever chosen by a large section of the American public and the first ever chosen thru the me dium of radio, was announced yesterday. Eighteen thousand and six voters, who began to make their choices Immediately following the Hart, Schaffner and Marx Trump eter broadcast Nov. 19, in which regular weekly program the poll was announced, gave Marchmont Schwartz, Notre Dame back, first place in the matter of popularity. Schwartz received 16,887 votes. The three judges, Ted Huslng, ace sports announcer of CBS, Sol Metzger and Warren Brown, both nationally known football authori ties, in each case approved the popular choices, which, in almost every case coincide with prominent all-Amerlcan elevens picked by football writers and experts in va rious sections of the country. I.ft end Jerry Dulrvniplr of Tulunc l-ft larlili Dallas Marvll, Northwrntrrn. ruard Clurenep Munn, MlnneMita. niter Tommy Yarr, Notnt Dainr. Might Guard John Hiikrr, Southern Cali fornia. Right tackle Jim MrMurdn, riltburh. Right end Vrmon Smith, Georgia, (iuarterbark Barry Wood, Harvard. 1-eft lutlfhark Marchmont Srhwartx, .No tre Darnr. Right hHlfoark Krnfit I'lnrUrrt. South ern California. I-nil back Krnitt Rcntner, North went era. The Hart, Schaffner and Marx all-American team follows: Tommy Yarr, believed to be one of the two most important pivot men on national gridirons this year, placed second in the popular vote, 14,003 of the 18,000 voters naming him on their teams. Vernon "Catfish" Smith, Georgia end, with 12,7i'7, Jerry Dalrymple, Tulane with 12,506 and Ernest Rentner of Northwestern with 12,384 took the next places in number of ballots received. Wood at Quarter. One of the unusual features of the poll, a matter in which all three judges concurred, was selec tion by the voters of Barry Wood of Harvard for quarterback, with 12,157 votes. Husing. the CBS an nouncer, who was barred during the season from any further broad casts at Harvard, because of his description of a play in which Wood figured, had no hesitancy in approving the voters' choice of Wood on the Trumpeters All American. It was in . the contro versial broadcast that Husing re ferred to a play in which Wood participated as "putrid." North, south, east and middle- west voters participated in the poll. Those who won first places with their selections and the reasons they gave for ' jeir choices are: A. E. Berry, Colorado Springs; M. E. Chapman, Cleveland Heights, O.; Clarence W. Gray, New Orleans, La,; Frank Eugene Kock, irsaw, 111.; C. B. Prescott, New Orleans: C. D. Ruth, Buffalo, N. Y.; John F. McEvoy, Trenton, N. J.; Bryce Bul- nngton,, Atlanta, Gi.; Cecil W hite, Pascagoula, Miss ; Bert W. Ander son, Charleston, W. Va. TWO PERSIAN BOYS COME TO NEBRASKA U AS NEW STUDENTS (Continued from Page 1.) field at Philadelphia, the two were advised to come to Nebraska where they could be togetbc; and still get good work in agriculture and medicine. Father Exiled. As a student of medicine, Mos toffi is following the line of work in which his father is engaged. Be fore the World war, Mostoffi's father was trained in France, was the royal physician, and when that monarch, known as the Shah of Persia was deposed and exiled from the country, Mostoffi's father was exiled also. It was while his father was in exile in Ilussia, Vi enna, and Paris, that Fatullah was j born in Persia. Subsequently, when i the civil wars which had agitated the country had been quieted, the elder Mostoffi was permitted to return to his country where he had since been established as a phy sician. Aghassi also is now entered on the same line of work practiced by his father. The Persian agricul tural system, as Aghassi explained it, is somewhat similar to the feu dal or manorial system once pres ent in England, at least to some extent. The agricultural workers live in small villages of a number of families and work the land near by. The wealthy landowners own the land and the villages and re ceive from each tenant farmer one third of the produce of the land. Aghassi's father is one of the land owners. The two students are permitted to come to this country by a spe cial dispensation granted by their government. Universal conscrip tion exists in Persia for all men between the ages of 21 and 23. To escape this service by leaving the country a special permit must be secured and the only reason for which such a permit is issued is that the men are leaving the coun try for the sole purpose of study ing in a foreign country. Under ordinary circumstances Mostoffi and Aghassi would be re A Life Long Gift Young People Deserve More Than Trinkets . COMMERCIAL TRAINING Cost co. little in comparison to what It brings in after life advancement and opportunity in business. New Classes Open Jan. 4 PLAN THE COURSE NOW. Member Nat'l Ast'n of Accredited Com'l Schools Lincoln School of Commerce 9 P & 14th UlflBaUE ANOTHER COKNIUJSKER RILL RIRLE V V V3, ; 4 ::S:;i-5S.!iir? :J. PHoto hy M&cdonakl. CourUwy Sunday Journal-Blar. Above Is pictured William Dana Bible, newest addition to the family of Dana X. Bible, Huskcr fotball coach. Bending over "Bill" as he is called, is the his young sister Barbara, who will be three in March. Bill is the chap who some be lieved saved the Missouri game for Nebraska, for he was born on that same October afternoon when the Cornhuskers were endeavoring to stop the Tiger rally. He must have figured that the team needed his help, and so put in an appearance. quired to spend the required year in the army on their return to Per sia. They believe, however, that they may possibly be able to sub stitute the training given here by the R. O. T. C. for the work re quired in their own country even though the military systems are different. Mostoffi declared they would seek the advice of their am bassador to this country in this connection. Because they were given per mission to come to this country to study, the students are not sup posed to work. Because of an un fortunate circumstance, however, the two are in somewhat straigh tened circumstances altho tliey were very reticent about explaining their flight. Boys Lose Money. The families of the two men are evidently well able to finance tlieir education in this country. The stu dents were provided with money to finance their first year in this country but in the progress of their trip to this country by way of Europe, a portion of the money was spirited away. Because of a threatened monetary crisis in Per sia the government prohibited the export of money from the country without special permit. Such per mits provide for the sending of a specified sum per year, and it is one of these permits which the fathers of the two young men have. Consequently Mostoffi and Aghassi will be required to wait for their next installment of money until next year. Meanwhile they have found that some of the very fine furnishings which they brought with them for their rooms are attractive to Americans, anj some of these have been sold; the! furnishings have also been ex. hibited where they have drawn considerable interest. Mostoffi smiled broadly and ex pressively in describing his trip to this country as "stormy." Aghassi emmented particularly on the rush and hurry of this country in com parison to his own and on the dif ferent appearance of the cities. When asked legarding their im pressions of Russia which they visited or passed thru on their way to this country, they explained that the Persian trovernment would not allow its citizens to make any 1 remarks whatsoever in connection with Russia or its system of gov ernment. The young men indicated that some form of mutual 'non propaganda" agreement existed between the two nations. THREE-HOUR EXAMS NEED NOT REQUIRE FULL PERIOD TIME (Continued from Page 1.) courses are designated as :ne of two classes: Those meeting on Monday, Wednesday or Friday, and those meeting on Tuesday and Thursday. Included in the former class are all courses meeting three, four or five hours per week. Examinations scheduled for Tues day and Thursday classes ar given at the same time lor classes which meet any one of those days. In addition to providing a longer period which will limit the num ber of examinations per day to two, it make3 it possible for pro fessors who so desire to cover the work of the semester more com prehensively than was formerly possible under a system which al lowed two hours as the maximum time. Following is the schedule: On Thursday, Jan. 2L the -Horning examinations period is for classes meeting Monday, Wednes day and Friday at 8 o'clock. The afternoon period is for Tuesday and Thursday classes meeting at 8 a. m. Friday, Jan. 22, classes meeting Monday, Wednesday and Friday at 9 a. m. will be tested during; the morning. In the afternoon exam- j p inations will be given for courses j Lincoln, Nebr. f j 4 -if It! i meeting at 1 p. m. on Tuesdays .ind Thursdays. The Saturday morning examina tions include only the freshmen English courses which will be given the regular departmental examination and classes which meet at any time during the week in the evening. Classes meeting regularly on Tuesdays and Thurs days at 4 p. m. will be examined Saturday afternoon. On Monday morning, Jan. 25, classes meeting on Mondays, Wed nesdays and Fridays at 10 a. m. will take their examinations. In the afternoon, Tuesday and Thurs day classes meeting at 2 p. m. will be examined. The Tuesday morning examina tion period is for classes meeting at 9 n. m. on Tuesdays and Thurs days. The afternoon period is for courses meeting at 1 p. m. on Mon days, Wednesdays and Fridays. Wednesday morning classes meeting on Mondays, Wednesdays and Fridays at 11 o'clock will be examined. The afternoon period is for courses meeting on Tues days and Thursdays at 3 p. m. Classes meeting on Tuesdays and Thursdays at 10 a. m. will have final examinations scheduled on Thursday morning. Monday, Wednesday and Friday classes meeting at 2 p. m. will be exam ined on Thursday afternoon. On Friday, the morning exami nation period is for classes meet ing at 11 a. m. on Tuesdays and Thursdays. The afternoon period is for classes meeting at 3 p. m. on Mondays, Wednesdays and Fri c tys. The last day of the prolonged schedule, Saturday, Jan. 30, will be used for classes meeting at 4 p. m. j on Mondays, Wednesdays and Fri days, who will be examined during the morning period, and for 5 I o'clock classes on all days of the week which will be examined in the afternoon. This last afternoon period is divided into two periods of two hours each, the first from 1 to 3 p. m. being for 5 o'clock classes meeting on Mondays, Wed nesdays and Fridays, and the sec ond fiom 3 to 5 p. m. being for classes meeting at the same time on Tuesdays and Thursdays. 1 D A HOSENOZZLE SUD- DENLY RECALLS THAT CHRISTMAS IS COMING AND TRIES TO FIGUSE OUT WHAT SHE SHOULD BUY. (Continued from Page 1.) not, but it will help to develop his soul. I will give my nephew and nieces small motto pictures something that will be an inspira tion to them in these turbulent times. No doubt Miss Stricter N. Heck would like a book of modern blank verse it will be a relief to her after Longfellow and Shake speare and many others like them. I will give Professor Drybones a snappy little cigarot lighter I found down town the other day it will make him want to learn to smoke. My goodness that's ali I do be lieve! I feel quite relieved I do lvpe every one likes my presents. 1 f i do ray it myself I can use tact and judgement In some matters. GLEE CLUB SINGS AT COILMIUSKER AT NOON The university glee club, under the direction of Harold Hollings worlh, will present a short pro gram of songs at the luncheon of the Optimist club of Lincoln at the Cornhusker hotel this noon. Twenty-four members jf the glee club will take part in the program ooks fcr Worth While Satisfying Gifts for all Members of Family or Friends The Lincoln Book Store 132 o. 12th Do vtudents read ads? If so, clip this one. the purchase of any book worth 1.00 or mon ARTHUR M. HYDE ON Year's Corn Yield Winners Will Be Announced at Organized Ag. Announcement of the corn yield contest winners will feature the program for the Nebraska Crop Growers' association meeting held on the college of agriculture cam pus in Lincoln during the first week in January in connection with Organised Agriculture. Dis cussions ana talks on all phases of farm crop production will be emphasized. Secretary of Agricul ture Arthur M. Hyde will speak Tuesday. The crop program opens Tues day morning, Jan. 6, and continues thru Wednesday. C. Y. Thompson of West Point is president of the association while P. H. Stewart of Lincoln is secretary. The initial program will feature a discussion on governmental ex periments in price control. L. B. Snyder, Richard cole, ana J. . Lawrence, all of the agricultural college, appear on the program. Carrying the discussion of market ing further G. B. Nance, extension economist of the University of Mis souri, will talk about reasons why some co-operatives fail. O. E. Baker of the United States depart ment of agriculture also appears on the same program. T. A. Kiesselbach of the Univer sity of Nebraska will lead a corn question box on Tuesday after noon. At the same program, win ners of the 1931 corn yield contest will be announced. Later in the afternoon the men will attend the mass meeting to hear Arthur Hyde, secretary of agriculture, speak. Another interesting feature of the Wednesday morning program will be a debate on the question, "Would th eSubstituion of Other Crops for 20 percent of the Winter Wheat Acreage in Eastern Ne braska Increase the Net Farm In come Under Present Economic conditions?" Those on the af firmative aide include Amos Gram lich, Fort Crook; D. S. Dalbey, Beatrice; D. L. Gross, Lincoln. Ap pearing on the negative side will be Ira Kindig, Holmesville; Carl Sohweser, David City; and Paul Stewart, Lincoln. In addition to the debate the Wednesday morning program also includes talks by J. E. Weaver and J. C. Russell. The afternoon pro gram will be a joint one with the livestock section of Organized Ag riculture. The program features talks by O. E. Baker, Chas. Ewing, Dan Hildebrand. Prof. H. J. Gram lich will conduct the pasture ques tion box. POOL OPENS FOR GENERAL USE ON MONDAY, JAN. 4 (Continued from Page 1.) age of this opportunity to get their permits. No more permits may be obtained afte- noon today, so all women who wish to swim after the holidays arc urged to be examined immediately. No girl will be per mitted to use the pool unless her permit is on file in the physical education office. Women who are not registered in the department now or who a 3 taking individual gymnastics are to get a permit blank at the department office, and take it to Dr. Philbrick at the health serv.'-T in Pharmacy hall any day from 1 to 3 o'clock. After Dr. Philbrick has signed the per mit it must be left with the health service to be "orwarded to the physical education office. Women who are now registered in the department and who are not taking individual gymnastics are to report in the dressing room this morning between 9 and 12 o'clock. Women Enthusiaitic. According to Miss Mable Lee, director of the women's physical education department, approxi mately 650 women students who are now taking physical education for credit have stated they wished to take swimming the second semester. In addition to these women are a large number of junior and senior women not reg istered in the department who wish to take swimming for credit or to use the pool during the free period. In order that all of the women may be accommodated double classes will be held. A beginning class will occupy one end of the pool, while an advanced class will be conducted at the other end. It is also planned to run two classes each hour, one group entering the pool on the hour and leaving at the half hour, a second group en- TYPISTS WIN DICKINSON SHORTHAND (OI RMK t fU.t. T'.finf cunteat Jan. li. All typicli eligible. Come or phone 112161 tot pai Oculars. Dickinson Secretarial School 203-6 Richard! Ilock. 11th aV O St. B-2'61 Lincoln, Neb. Christmas J. H. Willis It is worth 25c on before ChrUtma. IN LINCOLN terlng at the half hour and staying until tho next half hour. The university allows eight hours of physical education credit to apply toward graduation. Any junior or senior woman who wants to swim may register for the course which is P.E. 15S-H and carry it as an elective. Free hours will be provided tor women who wish to swim but who are not able to take it for credit. As it is now planned, these free hours will be provided at noon, in the late afternoon and on Monday, Friday and Saturday evenings from 6 to 8:30 p m., and Satur day afternoons from 12 to 3:30 p. m. Elaborato Quarters. The dressing rooms provided lot women students in the coliseum on the east side of the pool are ncar ing completion. They are equipped with marble showers, dressing tables, hair driers, and individual dressing booths. An added feature ot the W. A. A. sport program this var is u swimming club which will be lor the women who are interested in developing their strokes and dives. The first meeting of the club was held Tuesday afternoon at which time thirty-five women turned out. Miss Edith Vail is the club spon sor. The week following vacation tryouts will be held for the club and will consist of the following requirements: 12 lengths of the pool (the pool is 75 feet long) using same stroke. 2 lengths of the pool for form. 2 lengths of the pool for speed. 1 standard dive in passing form. A group of these girls will .be chosen to participate at the open ing of the pool after the holidays. BIG-LITTLE SISTER ' IS T Girls Will Dine, Dance at Annual Affair Today in Ellen Smith. The annual Big and Little Sister dinner will be held this evening at 6 o'clock in Ellen Smith hall. Tickets may still be obtained in Ellen Smith hall for 50 .cents. Little Sisters who have not been able to obtain their tickets from their Big Sisters may buy them from their Big Sisters today and the Big Sister will make arrange ments to meet them at the dinner. The program which has been planned will consist of a tap dance by Marjorie Pope, and songs by the Delta Gamma trio. Social dancing will follow the dinner and Julienne Deetkin and Margaret Upson have arranged games so that the guests may become ac quainted. Ruthalee Halloway has been in charge of the banquet and Ardeth Pierce and Katherine Warren served on the entertainment com mittee. Fur Christmas ... you must give her the best ... f fjumrrwiq B?rd ftLL FASHIOltD HOSIERY Ecry Monion knows the quality and style prestige " of this famous brand. They're the natural and only choice for those who want to give the best. Liiiurinus chiffons superfine service weight, Paris colors, unsurpassed quality. $1.00 to $1.93 Pair Special Christmas Sale of Renaud Perfume In co-operation with Ke naud et Cie. of Paris. France, Magee's is able to offer you this complete gift set flacon of Gar denia, 1,'Acarifl, Sweet Pea or Rare Orchid cou pled with flacon of Ghed ma (India's Flower of Happiness) for $1 This is an Ideal remem brance or the fastidious person who loves exqui site perfumes. First Floor. JUMP -4 ' .25