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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (July 13, 1931)
JPACIE FJCIIIT MEDFORD MAIL -TRIBUNE, MEDFORD, OREGON, MONDAY, JULY 13, 1931. BANK RUNS SPFI I RUIN VI kbb IIWII 1 IN GERMANY jM Reichsbank Fighting Long 'f. Battle Against Tremend : ' ous Odds Reparations ;: Jockeying, Loss of For- eign Trade, Factors. BKKMN, July 13. P) Direct ing all Its energies toward aavlng the nation from financial ruin, thn Gofman Kovernmont today Issued an nmcrsoncy decree taking over guarantee of the 130,000,000 Darmstncdter und National bank which has suspended payment be cause of' the drain on Its natural resources by constantly rising do manda for foreign currenclca. ." The run which cloned Darm ataedter extended In eom. degree to other banke thl morning, and to help prevent the panic from spreading the government closed the stock exchange for today and .tomorrow. f Moratorium Needed, Jacob Ooldsohmldt, head of rarmstaedtei and regarded as one of the ablest bankers In Oormany. asserted today a moratorium should liave been declared by all the Ger man banks weeks ago and It ought to be declared Immediately. He blamed hl bank' crash on the prvw for the political opposition which "crystallised vague fears In to tho one specific foar that our bank was uniwund," - Meantime the cabinet, whoso members are worn by the constant sessions of several days, past, re mained on the Job." Dr. Han Luther, whoso efforts to obtain French participation In a forolgn credit for the Rolchnliank were successful In that the gov ernment docltned to accept condl dltlons Imiiosed by France, left by plane this morning for Baael to attend a meeting of the world; bank directors there. H Asks f Aonfldenro, Chancellor Hruenlng's govern ment today appealed to the Gor man people to keop their heads in Portland Boys ' Miss Death By Split Seconds PORTLAND, July 13. Pl Two Portland boys were alive today after missing death by split seconds. Harold fields. years old, coasted down a steep driveway Into the rear wheel of a mov- Ing truck. He suffered a deep 4 gash on the check. He would have been crushed under the -heavy wheel had the Impact r occurred a fructlon of a soo- t ond earlier, ' Henry C. Hunt, Jr.. 7 years old, narrowly escaped death last night when he climbed into a troo near hi home and touched an electric power wire. The contact burned his T hand severely and knocked him from the tree. 4 8 OF VICTIMS SUNDAY MRS. MIKSCHE TOLD OF ACCIDENTS Five Lose Lives In Waters Of Portland Area Two Killed In Auto Mishap Deaf Man Struck By Train Near Oregon City. fun mwrm 9vj rrv A telegram was received In Med ford this morning announcing the birth of a daughter, weighing 7 pounds and 10 ouncos, to M'r. and Mrs. Lao Muhor of San Francisco. The little girl made hor arrival in me bay city last night. Mrs. Maher la rememberod as ine former Merc a Mlkache. ta - en tod organist of this city. The baby Is the grand dauglitor of Mrs. Loo J, , Mlksche of South Peach street, , . STORY 1 (Continued From Pig One) considerations both at homo and abroad, its questions of ability to pay, its problems of international trado and finance. A Borrower Now Hcfore the world war Oormany was a large lender In other nnt- lons. Now sho has become a heavy oorrower, with a foreign dobt approximating 20,000,000,000 marks. Her unemployment nrob lem Is serious, for 5,000,000 per son are out of work. She has lost the favorable trado balance which only last year enabled hor to wrest from Great Britain soo ond plaoo honors us an - export ing country Foreign capital, alarmed at tho moro serious turn In conditions this time of financial dlstrew and , n the ItoU-h, began Its exod iot to make things worse by losing confidence In the fatherland. -V "President Hoover's moratorium plan afforded a great rollef to our economic eltustlon," a proclama tion issued In the name of the gov ernment ' asserted, "a large sum which Germany was entitled to claim to retain could, tiy virtue tf thnt plan, be restored to tho banks. ' v'The weeks during which ' the struggle In connection with IIiIh plan has gone on have, however, done enormous damage to private Business. Millions loaned to Ger many from abroad have been with drawn because of the uncertainty of the situation. "Even today complete tranquility Via not noen restored. Must Hall Withdrawals. f . "Although our aim must be that the Uerninn economlo aystem shall lonee more be enabled to work with Its own means, tt now 1s noo Msary If severe Interruptions are xo De avoided, that further wlth ttrawals shall cause. , "Efforts of the Iteichsbank and jlhc CJo!d Discount bank are di rected to obtaining from abroad credit of the longest possible term M aid private business and to re lieve their distress." ,( ("Despite all efforts, In the course f these events one of our large banking Institutions the Darm ataedter und National bank has suspended paymont. ..."The government consider It to It duly and the president has granted 4 he naeeassry powers to meet the great dangers whh-h threaten as a result of this sus pension. Must Nave Customers. i: "It I not a question of snvlnr he bank' jnets. hut of saving tho property of hundreds of thouannris of, Its customers, thereby saving lhir liustm from Interruption or even from ruin. i "From these, viewpoints alone the- government will, in case of deficiencies, step In. It Is self evident that the hank's business Will be watched by the government trusters. ., '."No Irregularities contrary to Jaw havo 1-n discovered. "it is emenllal th.it the Herman people in this difficult situation fataln their rounign and not In. ra the trouble by losing their elf-confidence." I , The rmergenry Issued under the! o-oalled dictatorship clause of the Iteloh constitution, ws signed by President Von Hindenherg ncl un der It the Itelch undertakes to Guarantee deficiencies arising from the Darmatsedler's 'non-llquldlty." lutlon Payment. ,i Meeting the run which set In upon other big Joint stork hnks today, theee banks paid In full a li.ng as possible out. unable to cope with the claim of the multitudes, obliged ration payments, according to circumstances, some restricting their payment to It per cent and other to 10 per cent of the do mands prenenled. Home saving banks which Other wise wera not affected ty the Darnmtaedter crash became Involv ed In the general demand for hard sh a the day wore on. One mall caving hank at Teltow. near Berlin, waa obliged to limit pay menu to log mark (Its) per head because ll could not get cash fast enough from the Keiehsbank. At Cologne the limit was 100 marks. We can't help wondering what'll happen when llenltn gets to lieav H and m. I'eter doesn't give the Je"st ieJute.Daiu, jew, several months ago, and In tho Inst few wook It has roached the serious total of around one and a half .billion marks. The German people likewise. It Is re ported, have boon converting their funds Into dollars, francs, pounds sterling, nnd Dutch flor ins, thus adding to the ltolrh bank's difficulties In supporting the mark. ,, . Marks Take Wing , , Stronuous measures were taken to halt this outflow, The dis count , rate was raised, Ijinjo forolgn credits wore contracted at the world's financial centers. President Hoover's war debt hol iday revived confidence but mom entarily and the flight of the iark was renewed vigorously ist woek. A thousand of Ger many's Inrgost corporations of fered a (100,000,000 bank guar antee fund. Foreign Investors In Germany were frightened lust fall by the sucrea of tho radicals In tho national election. The rocnll of funds howover, did not assume ularmlng proportion until re cently when Germany seemed on the vergo of availing herself of the moratorium provisions In the Vuung plan. Horn very Phenomenal ' Germany's rapid Industrial re covery following the world war was almost phenomenal. Aided by huge foreign loans, mostly from this country, sho applied hersolf strenuously to the diffi cult task of reconstruction, al though handicapped by tho loss of her colonies mid Important supplies of raw materials. ttut tho recosslon In her business abroad from the post-war peak reached about a year ago, was rapid and In May 1031, hor ex port dropped to the lowest point In twenty year excepting tho war period. tacking gold, post-wnr Ger many was forced to depend on forolgn trade to meet reparation bills, Graduully hor export mar kets were extended until her re covery became the talk of the world. Ilut the optimists, both In Germany and elsewhere, had not mado full allowunce in their rockonlng for depression. Itlow Fells Hani It was inevitable that Ger many, like the other highly In dustrialised nations, should suf fer from the International reac tion nnd when the blow fell It fell hard. Her exporta reduced and hor Import of raw laatorlals also out. Germany had to borrow on a large scale. The recent loan have been of the short term variety, which quickly worked to the Itolih's disadvantage when the altuatlun at home become more acute. With renditions a they were throughout the world. It was Im possible to refund these loan, aggregating probably 1.(00,000 marks, Into long term accomo dations nnd the uncertainty as to when or how substantially these funds would be withdrawn added to the Intensity of the crisis. PORTLAND, Ore,, July 13. (P) Swimming, train and auto mobile accidents coBt eight live in and near Portland over tho week-end. The dead: Ous England, 66, Barlow, Ore., killed by Southern Pacific train near Oregon City. Howard J. Foster, 23, Portland automobile wreck victim here, Henry G. R. Zaatrow. 24, Port land, drowned at Wlllsada park near hore. , Phil Moll, 27, Portland, drown ed In Blue Lake near here. Hoy H. Munn, Yakima, Wash drowned in Deschutes river. Billy Fits, 10, drowned In Bad acr creek. John Mulllns, 10, drowned In Hood Blver. . Mrs. Myron Moore, 66, killed by automobile at Seaside. Train Hits Deal Man England was walking the rail way right of way and was struck by a southbound train. He was slightly deaf and It wa believed he did not hear the tram. An overturning car killed Fos ter and seriously Injured Marian Youngman, '80. Both were pa"' Tiwls Weltzi 24, was arrested on an Involuntary man slaughtor charge as the driver. Officers found him homo In nea He is on parole from the ore- son ncnltontlary; , ' Night swimming took the lives' nt trow and Moll. . jne lorm er went In Just' before daylight ,ith MAvnral fellow . oampera, - He t-v.,, in the water after the others loft. When he fulled to return to camp n search was begun nnd hla body was found an hour, later. ' . - - riftiuHi fllva Clue Moll went swimming alone. He was sought when his clothes were found on the beach. Officers found his body after a four hour search. . , Mnnn drowned whon he ai tempted to swim the Deschute riv.r near Its mouth., Ho was drawn Into the rapids and drown ed whllo his companions iimi fullv to rench nlm The Fit boy lost his llfo In Badger crook, three miles . from unlliv. I Mulllns was believed to have suffered a heart attack while attempting to swim Hood Hlvor near It confluence wun mo itml.ln. Mrs. Moore died at oensiue h hours aftor sho waa siruc by an automobllo driven by .Cllf ford Hanson, 17 yenrB old. 1 . ha SEWER BONDS E N D Tile word lias spread to people who ltvo close to Pleasant View That Puffy's Barnyard Circus is to mako its grand dobut. It pleases Puffy very much Unit children will attend. "Tho only thing," ho says, "I'm 'frald the show will never end." PARIS. July . tUP A Pic turo of the t'hevaller Louis Le gardeur de Repetlgny. a French man who fought at Yorktown. Is being sought by a group of ad mirer who wish to build a menu ment at Bault Kalnte.Marle. where he had hi furt and rhsteau from 1780 to I76H. So far nht' Men nn engraving or an etching of him oas oean rnunti.'-'t F STORY 3 (Continued From Fata One) Claro Orlswold, Ban Francisco, il. so 80. Phil Flndlay, Hodlands, 38-42 80. Everett H. Seaver, Los Ang eles. 40-41 81. Norman Buoy, Portland, 40-42 82. ' Leslie 8. Gordon, Chicago. 40 4383. Walter Fovarguo, Aberdeen, 42 4183. Krlo llnuser Jr., Portland, 49- 4908. .lack flnlnes, Olenclaln; 37-36 71 Malcnlmm McNoughlon, Port land; 35-8H 74. 78. Forest Watson, Spnkano; 38-40 Warren Johnson, Los Angelos 38-38 70. Pr. Clarence W. Spears, Eugono; 38-43 81. Douglas Ntchol, Portland; 43-43 85. i Chuck Hunter, Tacouia; Sfl-SIS 71. Cliff linker, Portland; 34-4376. Dick Near, Kugeno; 3813776. Stuart I'attulo, Spokano; 36-40 7S, Tom Toiler, Log Angeles; 39-41 so. ' George Smith, Portland; 41-43- 83. ' ' ' ,llm my Itushong. Portland; 33-33 71 . Dr. ' Joseph Asprgy, Spokane; 37-3H 7o, Wilbur Johnson. Olnndalc; 39-33 77. Kenneth Storey, Bpokano; 39-39 78. AI IXilp, San Francisco; 36-43 76. C. W. Klley, Log Angeles; 38-43 so. . , . Walter llonnlnljson, Portland 40-40 30. AI Paul 8tffen. Portland; 43-43 A. B. Oils, Portland; 41-4181, Ooorge Mead, Portland; 43-39 K. P.. Uabcock, lot Angeles; 39-46 &. Herb Bryan. Portland; 43-4383. Heroic Woman lavda Men PARIS. July ; HP) A young Yugoslavian woman led the delegation of 400 men recently to the battlefield of Franc. She holds the rank of sergeant and has been decorated with Servian medals and the Croix d Guerre with palms. Iter nam I Milnnv. wvlti h and .he distinguished her- "r dropping. STORY 2 (Oontloaed From Pace One) BY CITY LEADERS Prominent Business Men In Various Walks Of Life Sign Petition Urging Vote For Bonds Wednesday- tests of tho affluent thrown off by the Medford plant, all of which have been unsatisfactory, he told his audience. "The present plant is not sanitary nor modern and the health department has had fre quent complaints from people living witnin the regions nffcotcd by the pollution, especially from Gold Hill and Grants Pass, where river water Ib used for drinking purposes," he explained. "Sewage must be given complete treatment," Mr. Green pointed out, "and a septic tank does not give this treatment for a municipality. The state office will not accept changes In the existing plant as fulfillment of the sanitary require ment nor construction- of a new plant which involves similar treatment.- ..- "This problem also immedi ately concerned with fish llfo," Mr. Oreen continued, "the game fish will not tolerate the low saturation resulting from septlo tank treat ment." , , v LuGrando Cited. ' The system recently constructed In LnGrande, after the city had lost many .thousands 'of dollars in a suit because of inadequate serv ice., mr. ureen aescrroect as the best In the stato. The plant con tinuously gives off affluent which tests approximately 100 por cent.,, The plant, constructed in Klani. aht Falls was a cheaper system, no said, and could be.', because of tho large body of diluting water available, which Medford does not nave. The water In Bear creek is con, stantly getting lower and lower, 'because of a decrease in-rainfall-and the. demands of irrlgntlonit n -ine positive need for complete treatment Ls further necessitated by this lack of diluting water. Dr. Oreen addod. Inxkeep Heard. Mr. Oresln was Introduced liv Dr. L. D. lnskeep. Medford health officer, who also emphasized the dangeps now resulting from con tamination of Bear creek, referring' uuiiuin viiiuvnuc. wnicn arises oach summer. Several farm, er living along Bear creek pump water ror irrigation and washing of their vegetables. Dr. lnskeep Informed the luncheon group in no uncertain words, warning tho guests that the eame vegetables are ninae into salads eaten In Medford Tho hands of the city health de partment are tied from taklna- action against these products, for tho growers could in turn sue the city. The other members of the dele gation advancing the needs for the swage system were Introduced by . . Alien, cnuirman of tho health committee, who it rued nil oltlren to attend the moss meeting in tne ciiy park tonight, at which the sewsge question will be nre- sented from all angles. Tnintlon Urn-. Vice-Mayor C. A. Meeker th.j that the city Is tn a financial situa tion to build the eewase nlant nrn. posed, and not In a position to avoM noing so. -rns value of hunmn life, he told the Klwnnlans, cannot "V IirUSeniCfl in AO! nr nnrf . - I Taxation In Medford Is "low" com J iMtreo wun no levy In other south ern Oregon cities, ho pointed out An outline of the nrooosed v. torn was presented by Fred Schcf- ici, cuy engineer, who showed that pinn prvii tor tho eon. structlon of eddlthlm vhen the population aemand them. n,l ths t-iMnpieie separation of ennltary and storm sewage at such n lime as the city ran afford this Improvement i it. insaeep assured the Klwnn lane and gitesta that five rami.. tent sanitary engineers, have visit ed the local plant, endorsed the Immediate need for-a n, i.., and the estimated cost presented y me my council In the hnrf l.. sue to be voted on Wednesday. VEVHDL'N, July . ,. fllPl i monument ha Just been er.ci.rt over the ruins of .le village of Montfauron in honor .k. American soldiers killed there m he World war. On September j? 918. American tronns unri.. n.. direct command of General Per shlng, barked by tho Vr.-.h roops under General n.,n.... i .or simng Herman line nnd recaptured this strategic point This was one of the. hlonrtie.i battles of the World war. In the first encounter o Am.rt-. .. roops were killed, ids i.i,.. prlnoner and Si woumlt A petition urging the people of Medford to vote for the new sewer bonds on Wednesday was circulat ed in the business district today, and wus liberally signed by prom inent and Influential business and professional men. In a little over two hours! the signers below wcro secured and .It Is expected . thut scores of others will Join with them during the day. On all sides there wus a convic tion that while no one wishes to Increase the bonded debt at this time, conditions are such that the city will In the end savo money and avoid the risk of serlouB dam- ago by ordering this imperative improvement at the earliest possi ble moment. That there ls no other way out, and that the work will supply a pay roll for the unemployed during the coming winter when it will be urgently needed, was an expression hard toduy on all sides. . . The petition and the first 17 signers follow: Concerning the sewer bond lssuo which ls to be voted upon in Medford on the 15th we the under signed, believe we should make a frank and open statement to tho people, after very serious consider ation of the matter. Much as wo rcgrot to voto addi tional bonds at this time, wo have reached the conclusion that owing to the appalling condition of our sewer system and the grave con sequences which are sure to follow if the bonds are defeated, wo must endorse the bonds and urge our people to vote for them. Wo can not afford longer to delay this Improvement, which we believe is Vital to tho health of every man, woman and child In our commu nity. We believe that a modem sewage dlsposul plant with a main trunk sower down Boar creek will solve our problem. This Is what the city council proposes to do if the bond' issue is approved and we an see no other way to give Jledford -adequate sewer facilities. John C. Mann, 815 East Main. B. K. Harder. - J. C. Collins. J. C. Thompson. F. 13. Wnhl, Farmers & Fruit growers Bank. Big 7 Fruit Warehouse, Inc. H. W. Hamlin. . , . ,. C. C. Lemmon. ' W. B, Johnston Jr., 17 Olen Oiik. NO QUESTION OF OWNERSHIP NOW ! i ' ' : I vtff,i jf if 41 T .i&IAM 1 AtaociateA Frew Photo By virtue of hi victory over W. L. Strlbling In Cleveland, Max Schmallng of Germany holds without question the heavyweight cham pionship of the world. Here' Max after the battle, one eye a little puffy, gazing proudly at the belt to which ha 1 justly entitled. ARMY OFFICER! WIVES. STONE BY ISLANDER Manila Club Grounds See Of Clash During ni pendence Demonstrati Army Men Use Fis Scott V. Davis, 21 Oeneva. T. W. Miles, 303 N. Oakdalc. T. B. Lumsilon. 504 S. Holly. Roland A. Hubbard, 831 Main. John P. Moffat, 16 Florence. Eugene Thorndyke, 617 Dakota. F. W. Heath, 17 Conroy Court. B. H.'-Hcdrlck, 831 W. Twelfth. Hcv. Claude Porter, 8 Newtown. . 1 , AUG PET BIRDS PEIPING (UP) Hu Jo-yu. Polpinff'a new. mayor, hiia, Isnucd an order forbidding men to tuke out the!r pet Jlrd for an airing on tho streets,, public gardens or parks. Tho bureaus of public safety and social welfare have been instructed to enforce the order. The ord?r abolishes a pictur esque cuntom of centuries. Tho reiiHon is thut the custom ' leads to idleness and ; indolence nnd, therefore, is contrary to puhjic morals." . Pelping pet birds have been ac customed to dally airinns for cen turies Men of fashion usually take out their own birds, walking about with them In the parks, or tak'ngv thorn to tea houses, where they can hear "other birds of quality sing and perhaps pick up new notes. , 1- CMnHg.flPd nrtvrtlsln(r etR results. I A DARING NOVEL ;NEW YORK , (UP) "Hot News," a novo! woven around the career of a tabloid editor, is ready for release after publication by Macauley. It was written by Emlle Oauvreau, formerly editor of tho New York Graphic and now editor of the New York Mirror. Both are tablofds. The novel develops a number of unusual situations and spares no one, not even the nuthor. Book critics declare it to bo one of the most daring novels written in a numbpr of years. MANILA, July U.(JP)A ,J of American army officers their wives was stoned by an crowd of Flllnlnos here yesteJ while scores of thousands of I8iJ era were participating in an ij United States senators. I Several Americans were hit J aln Fred Adams of the 31st ini try, and Robert Davis, son oil aiiny uiLicor, were injured but I seriously. The incident occurred m open air swimming pool ot i Army and Navy club wl1(, , crowd of Filipinos, evidently J uu, uveriuu tile grounaB. Ordel off the grounds, the hdanrier.1 came incensed and started thrl niB scones ai inose in and aroi ine pool. ' - Officers Use Fists The police were called hut J one officer was available, the J era being busy handling the ij penuence crowu several blocks I tant. About twenty members! tho club formed a phalani J cleared the grounds, using j lists in a few instances. The independence demonstntJ staged for Senator Harry II. Hzl of Missouri and Senator Key n man of Nevada, advocates of II ippme freedom, drew a throng I umaieu at oetween iuu,uuu t 200,000 persons. Another 5(1 participated in a parade descril as a gesture to convince the s4 tors that the people of the Islal were united in their desire fori litical freedom. Classified advertising pets rwii CONGER Funeral Parlor i West Main at Newtown Office County Coroner SAVE On New, Smart, )uality-Made !!' In fell)ei Hl '.' Mate itlirllllt n . "' ,lv I1 -f:'H ,h f l'-w r?; 'a8teeth Holds Your False Teeth In This new delightful powder keen false teeth from rocking, sllppina .-Ml nssly lav. or perfect confidence (let Fasteeth rr,,n. III w in ai.. Ar j lit in i '.i r Ml I I I Iv II I V 1 II 1 1 V X'V I I " III III I I fi I m,1 I I I 111! re mi i i - i 1 , , Zl $25.00 SUITS! Suits t-sss $15.95 Suits $21.95 Suits r $27.95 20 off On Tuxedos, Blue Suits and Smart Oxfords Broken Lota In Nunn-Bush Shoes values reduced to $8.50 i.50 and $9.00 shoe going at $6.75 Moccasin ' Golf Shoes An exceptional value at $6.50. Reduced for this sale to : $5.oo Manhattan Shirts Regular $3.00 and $3.50 values reduced for this event to $2.25 Manhattan Shirts 0 t h er standard !. Values to $2.50 duced to $1.65 'Your Quality Store' Leather Coats Gray sued and whit leather coats will be of fered tomorrow at SPECIAL REDUCTIONS CHARGES NO REFUNDS NO EXCHANGES oods or your drugtlst, , A,
