The < imaha Morning Bee 1”^“^
In Sampm-Mure. M. M* M-^0 *••■•*•*• * **“ ^ "“* 'V-#' A ▼ A.*** ▼ 'W- ■» , * *“• *■ ** Ha also .erri*, who sometlinr* run*
- - _ sway.—John Burroughs.
CITY EDITION VOL. 63. NO. 253. OMAHA, MONDAY, APRIL 7, 1924. * TWO CENTS'* MJiT- l__'
By Mall (1 Taar)! Dally and Sunday. »>: Sunday. IJ.lt. wllhln tha 4th aon*. Outalda tha 4th Zo.ia (1 gear)! Dally and Sunday, IH: Sunday only. I»._^_ ... i
RUHR RELEASE’ JRGED IN DAWES PLAN
As
v. Co _*» ■ ~
Weather to
Tell Story
On Norris
Rain Would Result in Light
Vote; Mathers Claims An
Even Break With Mc
Mullen in State.
Apathy Rules Voters
By W. M. MAUPIN.
Norfolk, Neb., April 6.—More ele
ments are mixing into the present
primary campaign that ever before
entered Into a primary campaign In
Nebraska. The most active element,
If a parody be permits#, is the ac
tivity 9/ General Apatny. The atti
tude of "O, what's the use” was nev
er so general, and men who have
heretofore been active, and who never
before refused to express an opinion,
are Inactive and wholly at sea.
It Is certain, however, that Norris
will have the German vote, which will
support him. Apparently nothing will
alienate that support from him be
cause 0t his attitude during the war.
This fact, however, is not without a
compensating effect upon the Sloan
vote.
Sman Active in tVar.
Sloan was a memher of congress
when this country entered the world
war, and like Senator Norris voted
against the declaration of war against
Germany. But once the republic was
committed to the war progntm Mr.
Sloan spared no efforts to win It. He
gave every aid to the measures cal
tulated to equip, train and subsist
the soldiers of the republic. His
three sons entered the service, and
one of them paid the supreme sacri
fice in France. Sloan's friends are
Snaking these facts known to the vot
ers.
Both Sloan and Norris were within
ti.Mr rights in voting against get
ting into the war. This is admitted
by all. Those opposed to Norris hold
that once in both should have stood
by their country to the limit.
Three Candidates Though Four Filed.
A survey of a half-dozen cities and
tjwns, since a former letter, has not
K m rved to change the impression tlgit
ir. the republican contest for tfie
gubernatorial nomination McMullen
hs leaning in what is really a three
cornered race, although there are four
candidates. Mathers’ supporters in
central and western Nebraska insist
that their candidate will at the very
least break even with McMullen in
the country, and hold the edge in
Douglas and Lancaster counties.
The Gustafsen vote is the unknown
quantity, and upon that there is a
wide difference of opinion. Some con
tend that his vote will be nominal,
while others believe that he will de
velop surprising strength among the
farmers. It would be easier to fore
cast were it possible to get a line or.
the Gustafsen vote and figure out
whether that vote will take most from
McMullen or Mathers. The impres
(Turn to Tag* Two. Colnmn One.)
MOVING VILLAGE
ATTRACTS EXPERTS
Granada, Spain, April 6—Spain's
greatest scientists have been at
tracted to the situation at the vil
lage of Monachil. where the earth is
moving, carrying everything in its
path, and in some instances swal
lowing up olive groves and houses.
The center of the disturbance Is
about 1,500 meters long and 500
meters wide. The movement of the
earth Is gradual, but rarely per
ceptible to the eye.
Thus far there has been groat loss
to crops In the effected district. In
one Instance a cottage has been slid
along, without damage, for 200 me
ters.
. TWO AMERICANS
SLAIN IN ITALY
By AN«ocfat*d Pr«w.
Rome, April Two American
merchants were murdered today on
the Tlrnna-Scularl road In Albania.
40 kilometers from Tirana, says a dis
patch to the Stefanl agency.
The dispatch adds that the Alba
nian government has taken energetic
steps to discover and punish the mur
derers.
We Have
I •
F. R. Henderson,
New York,
Importer.
From office boy to head of a large
importing establishment in little -nore
than 20 years. That is the record of
F. R. Henderson.
Horn in Port Chester, N. Y., In
1X84, lie decided that his future lay
in New York rity early In life. When
he was 14 Mr. Henderson went to
New York and became an office hoy
in the establishment of Robinson
A Co.
y For 11 years he worked for this
company. Then he formed a partner
ship with a friend and established
the Arm of Henderson A Korn. In
1917 this compnny was disbanded nnd
be founded the Arm of Henderson
A Co.
An Importer of crude rubber, he
has watched the growth of flits In
dustry grow to unbelievable propor
tions.
( The Opening of the Golf
OH>»luje. WHMfe ) V_A HAYtfT j
| DYOO GO AN©. > IstCN THEM
I ’ HIOC MT GOLF STItK^L, l_—|
y PLEASE HENRY. PLEASE f ,
y THEY'RE NOT THERE I KNOW. /
. THOSE ARE JUST OUR VfiNTER. I
, THINCS I'VE JUST PUT AWAT £
I well, they must be Sotvie PlXE
I unless you sold 'em for old juhk
I OR .SftMPTHIMf.
w
irF YOU'D JUST LEARN to LEAVE
MV THINQT ALONE VIHCRE X PUT
'EM • * Q - ■ 1 --
,
COME ON
HANK. 'NE'U.
»r» you out .
•A _
ftciFr
wUEPe
HE l EFT
THEM
uAir .
FAL_t_
U. S. Fliers Reach
Prince Rupert on
Round-World Trip
Three of Four Planes Arrive
at Canadian Point After En
countering Heavy Mist
and Rain.
Prince Rupert. B. C., April 6.—
Three planes of the U. S. army on a
flight around the world m rived here
at 4:54 this afternoon.
Ky Aftiiorlatod Prw*. •
Seattle. April 6.—Four planes of the
United States army that left Santa
Monica, Cal., '.larch 17 on a flight
around the world and arrived here
March 20, left the States today.
Three of them departed from here
Just before 9 this morning and the
other an hour laier. At 1:20 p. m.,
the first three were reported passing
over Kgg Island, about holf way to
Prince Rupert, R. C., where the
squadron expected to drop down Into
Sed Cove at 7 tonight to r< »t before
the next stage, to 8!tka, Alaska, lte
jolts from along the B.'liisti Colum
bia coast which the adventurers were
skirting. Indicat'd that the fourth
flier had made up 15 minutes of his
lost time.
Knruiiiiter Mist.
Along- the nor'.n toast of Vancouver
island, the planes leports forwarded
here by the Canadian Press showed,
encountered thick mist and rain, with
a southeast breeze at their backs.
The start was a triumph over
meterology and mechanics. The 17
days’ stay here was for installation
of pontoons with which the flyers, led
by MaJ. Frederick L. Martin, hoped
to conquer the Pacific ocean over a
land and water course of 4,158 miles.
REBEL TROOPS MAY
TAKE VERA CRUZ
Washington. April 6.—Headquar
tars of tha Da la Hue>-ta Mexican
revolutionary group announced to
night receipt of wlreleae report*
from Frontera that General Benches,
revolutionary lender, again wna men
acing Vera Cruz.
Intercepted wlrele** message* sent
out by the federal defending force,
thd advlcea said, informed President
‘Obregon that If relnfnrronient* were
not sent at onre, the federals would
ha driven from the city.'
The advices also said the situation
on the southeastern front had Im
proved from the revolutionary view
point, with a victory over the Obre
gon troops In the neighborhood of
lxhtmtlnn and Rara da Tonnln.
Woman Hurt by Auto.
Mrs. M. St ark In, 2025 Howard
Mtrert, wan Injured Saturday, when
she was Rtruek by an automobile at
Sixteenth and Harney etreetw. She
refused to allow police to arrewt M.
\r. Hchermerhorn, 2503 Davenport
street, the driver of the cur. She aw
ttUiiii'd full blame for the accident.
CHURCH OFFICIAL
backs McMullen
Rev. Clyde Clay Clssell, area secre
tary of the Methodist church, has en
dorsed Adam McMullen for governor.
McMullen is a candidate on the re
publican ticket.
In a letter mailed to lay-clerical
Methodists In the state, Rev. Mr. Cl*
sell declares that "every Interest of
the commonwealth will be safe In Mc
Mullen's hands.
His letter follows:
"Under the date of April 3. Mr
Clssell offers this word of guidance
to methodlsts, lay and clerical:
"Dear Sir: Personally I am very
much Interested In the candidacy of
Adam McMullen of Beatrice for the
nomination for governor of Nebraska.
Every Interest of our commonwealth
will be safe In his hands, good gov
ernment for all the people, efficiency
In the conduct of public affairs and
satisfactory administration of state
business will be assured by his nomin
ation and election.
(Signed) "CLYDE CLAY CISSELL."
E. G. MAGGI SPEAKS
TO ITALIAN CLUB
The people nowadays should feel
that it Is their duty as American citi
zens to go to the election polls Tues
day and vote to their best knowledge,
according to E. O. Maggl, of Lincoln,
Neb., who spoke Sunday afternoon to
members of the Italian-Amerlcan Pol
itical club at the Swedish auditorium.
"American people should take an
active interest In politic*. No matter
what party Ideas one may have he
should In all way* strive to maintain
that high standard of dignity at the
election polls.”
The other speaker at the meeting
was J. B. Hummel. The president of
the club Is Paul Garrotto.
Jewelry Valued at $50,000 •
Stolen; $100,000 Overlooked
Chicago, April 6.—Jewelry valued
at $50,000 wa* stolen by burglar*,
who early today cut their, way
through a network of burglar alarms
and two brick walls of a Jewelry es
tablishment on the outskirts of the
business district. They overlooked
$100,000 worth of unset diamonds.
Tha men worked undetected for
hours police estimated.
f- --
Peanut'Shell Radio Set
Cost Ruilder a Michel;
He Had to Huy Peanuts
v__J
Chicago, April 6.—Wilbur Welten, ,
13, with four radio sets, all In work
ing order, disposed a Knit his person. !
yesterday entered the whenl play
ground radio set nislilng contest
One of his sets whs fashioned «>(
his mother's vanity rase; her ]
powder hoy was the receptacle for
another and a pencil and tun foun
tain pen ch|m held three more.
lie produced a penny match hex,
a mouse trap, an idd watch case,
two peanut shells and several other
"pieces of Junk" all of which were
receiving sets. Tile pci mil set, hr
explained cost a nickel, becauae lie
had to buy a hag of peanuts.
W . W “
Fontenelle Park
Fourth of July
*
Fund Growing
Members of Association De
clare This Year’s Event to
Be Greatest Ever — Ak
Sar-Ben Body Donates
Contribution! to the Fontenelle
park Fourth of July celebration are
flowing In rapidly, officlala of the
aaaociatlon announced Sunday.
The hoard of governor* of Ak Sar
lien helped to swell the total of the
fund when they contributed J100.
Membera of the association de
clared that they believe that this
year will be the greatest ever for
the celebration The contributions
are coming In well and promise to
come In even better In the future.
The list of contributions so far Is:
Previously reported ...t lit
Ak-Sar-llen . 100
Judge Troup . 1
Herald IM Vlolgtrs . 2
(* J Oauarn . 2
It. w Harris . *
R. I,. He,-lit . t
J. H. Cooper . 1
H. J. Newton . 1
A. TV KUaa-er . t
Haorge P Swanson . t
I. r>. Pet tegrew . 1
.1 A. Walker . 1
Ralph H. tinea . t
Total . I It?
Omabu Couple Wed.
Donald T. Swalm, 29, head of the
Auto Klectrlc. ft Radio corporation In
Omaha, and Miss Wllla McCullough,
29, also of Omaha, obtained a mar
riage license and wore wed In Council
Bluffs yesterday. They left at once
on h honeymoon trip, for Atlantic
City.
Two Killed,
Score Hurt
in Klan Riot
Hoge Turned on Klansmen
Boarding Train After Parade
at Lilly, Pa.—Gun Battle
Follows.
29 Held by Authorities
Lilly, Pa., .April 6—Two men
were killed, another believed fatally
wounded and a score of others were
more or less seriously hurt In riot
ing Saturday night between towns
people and members of the Ku Klux
Klan, a close checkup by state po
lice and deputy sheriffs disclosed to
day. Four residents of Lilly were
being held by stats police upon
charges of rioting, while at Johns
town 25 men, said to be klansmen,
were being held by Sheriff Logan N.
Kellar pending an Investigation.
Tha rioting occurred when the
stream from a fire hoee was turned
upon klansmen as they were board
ing a special train for Johnstown,
19 miles west of hers, sfter having
paraded through the town from an
adjoining hill where a ceremony at
tended by some 600 klansmen had
been held. Firing began Immediate
ly and when the special train pulled
out 30 minutes later, several wound
ed men had been taken aboard, while
Phillip T. Conrad and Floyd Paul,
both of Lilly, lay dead on the street.
Eleven of the Injured, all declared
to be residents of Lilly, were taken
to the Altoona hospital, the most
seriously hurt being Frank Miasco,
whose recovery physicians declared
was doubtful. Threa of the Injured
taken to the Johnstown hospital were
s&ld to be klansmen.
Town Patrolled.
Sheriff Kellar with a fore# of
deputies and a detachment of state
police, patrolled tha town today.
Sheriff Kellar returned to Johnstown
later In the day. declaring he feared
no further dleordere. Member* of the
state police remained, however, to con
duct an Investigation.
About 4S pistol* were taken from
the special train after Ha arrival at
Johnetown, according to Sheriff Krl
Ur, who declared that some were
found upon th« men arrested while
others were In the cars. Many of the
klansmen left the train between Lilly
and Johnstown.
Electric Ilghte In.IJlIy had been ex
tinguished earlier In the evening and
the klansmen marched by the light
of pocket torches. Several hundred
of the robed figures had already
boarded the train after having passed
through a line mad* by townspeople
assembled at the station when a
stream of water from ths firs hose
was suddenly turned on them. One
of th* klansmen was reported to here
rushed to th* group of young men
holding the hoe* and, wresting It
from their graep, turned It npon
them. A moment later the battle In
the, darkness began.
Sheriff Meets Train.
All but a group of about 100 kin ns
men had boarded the train when the
firing began. The loading of the
train continued, aa bullets whistled
through the air and atones and other
missiles were hurled from all direc
tions.
The train departed as soon aa the
visiting klansiuen had entered the
cars. When It arrived at Johnstown
it was met by Sheriff Kellar and
Chief of Police Brlney. Klanemen
remaining on the train were searched
and 25 men with pistole were
arrested, according to Sheriff Kel
lnr. He declared that any charge
to be made against them would be
preferred after the investigation.
LIQU0R~AGENTS
CAPTURE SHIPS
New York, April «—Prohibition
agents In this district, working on
land and sea, yesterday arrested it
men. captured, a ateam yacht, a
schooner, a motor boat and four
trucks, and seized 2.636 cases of
liquor.
---
“Ain’t Nature Wonderful”
By UNCLE PETE.
h. _ __ J
Beaver Flats, *ta O'Neill, Neb..
April 7 —Beaver Flete has been con
slderably stirred up the laet week and
the community le pretty well divided
over the personal Injury dunum# ault
brought by Mrs Charley I.aughlng
Mores against Hank Tomlinson, lead
Ing Inn keeper of The Flats, In .lodge
Klrwln'a court. Mrs. I.aughlng Morse,
with her husband, a half breed ranch
man up on Bloody creek, crime to
town for the first time slnco Inst fall,
lire first of the week, and while lie
was engaged In disposing of a load of
* love wood which Ida trained heavers
had grtawed off the forest reserve
lust above the ranch and floated
down thereto, aim engaged In shop
ping at the general store.
Among her purchases was a heart
ilfrtl new spring hut, the confection
iClng tastefully decorittrd with Inti
lajion fruits sitd wild flowers. I hr
purchases completed, Mrs. Igiughlttg
Morse donned the new bonnet and
then sat down upon the shit walk
outside the store to await tier hits
I and
lU-.nir Plata being aolne distance
off the railroad. Mr. Tomlinson keeps
a stand of bees that the guests of the
Tomlinson Inn may have honey with
their breakfast flapjacks. Slid on this
particular day on* of the bees sat on
the front steps < f hts hive, sunning
himself. Siam after taking up post
t'on outside the stoie Mrs. I-aughtiig
Horse becams drowsy and her bob
Mug head canard the flowers upon
the millinery to wav# most realtlstl
rally. x
Spying the new garden and not
even t losing to tnk# account of the
tin e of the year, the ts>e with a glad
cry to hia fellows within the hive hur
ried right over, and soon the new
headpiece was the center of a craft
Ins and huzslng throng.
The anger of the bees when they
discovered the flowers to be hut lint
lotions was very great and Mrs,
t.augh!ng Horse was severely slid
numerously stung llhe Incident re
sulted In the action against Mr. Tom
linson for not keeping his bses nt
home. Judge Klrwln, who Is a can
dldate for re election with some oppo
sition, has reserved hla decision until
alter the primaries.
Chicago Gangsters Keep Truce
for Funeral of Slain Gunman
Feuds, Individual and Collective, Laid Aside as Sworn
Enemies in Underworld Pass Side by Side to Bier of
Man Slain in Election Riots.
I Chicago, April 6.—There was a
truce yesterday among Chicago s war
ring gunmen, beer runners, hijackers,
bootleggers, panderers and detectives
while an Imposing requiem for the
death was being apld over all that
was mortal of Frank Caponl, shot
down In the sensational Cicero elec
tion riots last Tuesday.
It was a truce that held from the
time the notorious gunman's body
was carried from the morgue Friday
to lie In state, and it was all of that,
at his home. Feuds, Individual and
collective, for the nonce were laid
aside as sworn enemies in Chicago’s
seething urderworld wprked their way
side by side, through great crowds
and Into the room, whose walls were
bonked with $20,500 worth of floral
pleoes.
It took 20 automobiles to convey
these flowers from house to cemetery.
There were 600 automobiles—and
none of your low-priced cars—In line
behind the costliest motor hearse In
the city. The line was two miles
long.
Notables among the thousand or
more at the Impressive church ser
vices Included Julian “Potatoes’' Kauf
man, arrested as a suspect In the
Duffey-Exley murders; Mike Carozza,
ex-pal of “Big Tim” Murphy, now
serving In Leavenworth for the Fort
Dearborn mail robbery; "Diamond
Joe” Esposito, West Side cabaret
owner and politician who, either as a
mark of mourning or of super-cau
tion, carried his "rocks’’ in a money
belt; Earl Weiss, noted beer runner
lieutenant of the Caponl crowd; and
then many police officials who have
known Frank both officially and per
sonally.
The dead man's brother, Alphonse,
alias A1 Brown, manager of “The
Four Deuces,” a cabaret much favored
by Chicago's night life habitues, rode
with his mother In the mourning
coach Just back of the mahogany cas
ket with solid silver handles.
Large Gifts to
Parties Flayed
by Idaho Senator
Corruption Will Exist as Long
as Contributions Are Made
to Political Organizations,
Says Borah.
Washington, April 6.—So long as
political parties seeking control at
the government accept vast contribu
tions from those interested In matters
of legislation or administration, there
"will tie sinister and corrupt and con
trolled government," Senator Borah,
republican, Idaho, declared In an ad
dress before the students' law en
forcement convention.
"In these days," 8enator Borah
said, "the government deals with all
the vast concerns of business, coal,
railroads, ships, oil. tariffs and It la
■Imply Intolerable that political par
ties accept vast contributions from
those vitally lntereeted In these mat
ters.
Call to Duty.
"These unusual sums are not given
merely because of the common Inter
est partisans have In their parties.
Both political parties have for years
placed themselves In an indefensible
position In these matters.
Referring to revelations before sen
ate committees, Senator Borah aald
these must not be accepted as an
Impeachment either of the American
form of government or of the ca
pacity of the people to rule. Rather
should they be accepted as a "call to
duty to preserve and hand on to pos
terity that inheritance which our
forebears gave into our keeping."
Government Not Corrupt.
"Through constitutional and lawful
means." ha added, "but In searching
and remorseless fashion, let us make
the hour of reckoning a memorable
one. The days through which we
are passing are tha agony, but they
may also t>« mads the glory of a
truly great and self governing people.
"War brings waste and extrava
gance. and then corruption.
"But the people of thla country
are sound nevertheless. The govern
ment as a government Is not corrupt.
There are honest and faithful public
servants end loyal and patriotic con
stituents. There are men and
women, thousands and millions of
them, Just as willing to .sacrifice for
the honor of their country and Just
as capable of serving the cause of
clean government at were their fore
bears."
OMAHA RECEPTION
PLEASES MATHERS
"I am especially pleased with the
splendid manner In which the men
and women of Omaha have with In
creasing enthusiasm supported my
candidacy," said A. N Mathers, repub
lican candidate for governor Sunday
night.
"All know my opposition to the
policies of C. W. Bryan. 1 am de_
tennlned that the best Interests of
the entire stale demand his defeat.
With the republican nomination I
shall not disappoint the thousands
thnt believe that t am the republican
who can defeat Bryan In November.
I know Bryan and his record and I
shall wslcoma the opportunity In the
coming campaign of meeting him on
every Issue before the votera of the
stats.
FIRE SPREADING
IN ARIZONA MINE
.Ttlsbee,* Aril., April *—More than
5u ml lien tonight are fighting a fire
which*was discovered on the four
teenth level of the Sacramento mine
here early thin morning. The fire I*
spreading. No men are entombed
tn the mine, tairge throngs gathered
at the mine portal itut great clouds
of smoke ascended from the mine.
Man Xilniit* Robbery.
Fred Key. 1914 South Eleventh
street, arrested Friday night h\ IV
tertlvea Joe Mlklas and Jack Mon
tague, signed n confession Saturday
afternoon declaring that he had
robbed a garage at Fook, Neb., on
March id! of 32 tires.
4
Germany’s Hopes
of Reparations
Relief Smashed
Word of Burdens Imposed by
Dawes’ Experts Lends Ap
prehension to Nation as it
Awaits Report.
Br rntrerMl Berries.
Berlin, April S.—Germany awaits
the publication of the decision of the
Dawes expert commission In the
mood of one about to be sentenced.
It Is generally realized that this Is
the last chance to clear up the Euro
pean mess, and that also the decision
will either make or break Germany
Itself.
But the high hopes with which the
Germans greeted the American lead
ership in the work of the experts
have been smashed by the consistent
reports about burdens which the ex
perts have been eald to hare imposed
on Germany.
It la now feared that General
Dawes may have proved “another
Wilson.” and that the French have
carried their points with the experts
as they did at the Versailles peace
conference.
Even If Germany could meet the
burdens. It Is not believed that
France will carry out the political
conditions of the report eo that the
Germans practically despair of any
ultimate benefit.
One Ray Of Hops.
Only one ray of hope remains and
that Is that the decisions themselves
may not prove as bad as heralded.
However, a large section of political
opinion here believes that Germany
la willing to discuss any possible so
lution on the basis of tha report of
the experts while some believe that
Germany will accept the report for
the simple reason that It can not do
anything else.
There Is no doubt that Germany
ha* become very modest In Its ex
pectations following the failures of
active and passive resistance against
the crushing force of France. The
present government has shown genu
ine efforts to clear up the mess with
in Germany itself and get on Its
feet. It Is known that high govern
ment officials. including Foreign
Minister Stresemann, while disap
pointed at the economic burdens and
particularly by the payment* Im
posed during the moratorium which
they hold will make the moratorium
illusory, nevertheless believe that an
agreement regarding economlo fea
tures is possible.
It Is held however, that Germany’s
ability to meet conditions must be en
tirely dependent upon:
Francs Kv per ted to RaJk.
1. The provisions of the Interna
tlonal loans said to be proposed by
the experts.
S The return by Franc# of the
economic control of the occupied dis
tricts with thetr 11.000.000 persons,
the center of the Industrial organisa
tion of Germany, also a* proposed by
the expert*.
In view of France'* nsw aggressions
and uncompromising attitude on a
(Turn to Tag* Two. Column Four.)
AUTO RACE DRIVER
KILLED IN CRASH
I-OS Angeles, April •— Earl Wilson,
automobile race driver, wa* fatally
injured when hi* car crashed into the
frnr# at Ascot speedway here today.
He died soon after reaching the hos
pita! where an operation was to have
been performed in an effort to aave
hla life.
A few minutes after the accident,
which occurred during n preliminary
event . the remainder of the day's r.tc-j
Ing was postponed on account of!
heavy shower*.
___ |
I The Weather
V___ I
Kor ?4 hour* *r,Vn* ? p m . April 4
rriH'lpItatlon. Inch*'* and II imdr^t t h*
■Total, 0 Total *‘nc# January t, 4 IT i
Inch**. a\. raa. 3*' inch
Himrl) irm|ipr»tnfM
* • tn .. « * 1 p, nt . .. Cl!
* ft. *«. 4J» l p m . .., f
"a m......... 4 3 p pi •<
* • nt. «’* 4pm...
» ». m. 4 p m iff i
a tn.. . i»\ *■ p ip I
Mi n« . .pm ,C| 1
1* noun........ •• fe p u».^
<
Stabilizing
of Currency
toBeSought
Report, According to Semi
Official Summary, Recom
mends Placing of Repara
tions in New Bank.
Railways to Be Returned
Bj TdIt^I
Paris, April 'The following semi
official summary of the report of the
Dawes committee of experts was ob
tained from the highest sources here
tonight. It reveals that the whole
scheme Is based on ths relinquish
ment by France and Belgium of the
whole system for the collection of
reparations which has been built up
In the Ruhr end Rhineland.
Not only ths railways must he re
turned to Germany, but the tax re
ceipts and other monies now collected
by the Franco-Belglana must go Into
a special department of a new gold
bank created to bring-sanity to Ger
many's money.
The Dawe* expert* had two quts
tlons—first, to stabilize the German
budget; eecond. to restore German
currency to a gold basis.
New Bank Proposed.
They attacked th# second question
first. Counting paper money-, bonds,
rentenmarks, industrial gold notes,
divisionary money and treasury
notes, German currency totals 3,299,
000,000 gold marks. In order to
bring back the gold basis, the ex
perts propose a new bank of emis
sion to replace th# relchsbank. It will
have 14 directors—seven Germans,
one American, one English, on* Ital
ian. on# French, one Dutch, one Bel
gian and one Swiss, with a president
who will be a German.
The powers of emission will be lim
ited by an allied controller who. In
order to prevent Inflation, will forbid
any credlta to th# treasury. The new
bank will not discount treasury bonds
except to private individuals.
The capital of th# new bank will
be 400,000,000 gold marks, 100.000,0»> i
of which will be taken up by the
relchsbank. Th* balance will be di
vided Into 3,000.000 100-mark shares,
which will be offered to the public.
Railway Society.
The aim of th# new bank will be
to buy In all th* rentenmarke.
amounting to 1.200,000,000 gold
marks, which It will do with the
subscribed capital of 400,000,000 gold
marks, with relchsbank gold totaling
4*0,000,000 gold marks, and an addi
tional 400.000.000 to be raised by an
International loan.
A apeclal department of th# new
bank will be created to receive the
various receipts provided for In a
eecond plan, which la a railway so
clety with a capital of 23,000,000,000
gold marks, organized on the ease*
lines as tha bank.
Thla capital win be divided Into
11.000.000.000 ordinary shares t* be
taken up *by the German govern
ment, and 11,000,000.000 prefer
ence shares bearing (.1 per eent in
terest. Thee* obligation* will be de
posited with th# committee on reps.—
ationa, who will Issue them to world
markets
New Taxes Recommended.
The next etep will be the creation
of a holding company to manage a
first mortgage of 10.000.006.000 gold
marks on Industrial and land prop
erty. Of these shares. *,006,000,000
will go to the alllee for teauanoe and
4,000,000,000 to ths German govern
ment.
The committee further recommends
an entirely new series of gold taxes
on spirit*, tobacco, wine, beer,
matche*. estimated to yield 1.500,600,
000 gold marks a year, which will be
remitted to the bank’* accounting de
partment and divided equally be
tween Germany and the alllee.
Th# committee declare* that It I*
certain that Germany Itself will be
unable to make any payment* until
th# excise year of ISIS and so etlll
another tax on transportation, valued
at 590,000.000 gold mark* annually,
will be Impose,!, which will be the
basis for another scries of Interna
tional loans with which to pay repar
ations during the next four year*,
and the expenses of keeping th#
troops on the Rhine.
Plans For I.oans.
For 1954 and 1915 the experts ex
peot to borrow only 1.000,000,000 gold
marks, each successive loan being :n
proportion to th# amount for the
transport tax and other taxes aval!
able as guarantees Two hundred
millions w«i h* borrowed on railway
gross receipts, and an SOP 000.000 lr.
temational loan will be gaged on tbs
rallwnvs, the Interest on which w-.-l
bs taken cars of by th* 90,000.0P0
gold marks unused from the trans
port tax
The 1955 7* loan will be 1.550.000 -
000 gold marks for 195* j; n wt!l to
i Tors to Paso Two, Volutes Tour I
• 3.000 l.ntrr or l.ea\e l , S.
Through New York in 1923
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ll»e port of Non York, accepting to a
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