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,
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This new delightful powder keen
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$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,