The Clinton chronicle. (Clinton, S.C.) 1901-current, June 01, 1933, Image 6
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THE CLINTON CHRONICLE. CLirn^MTSt C.
THURSDAY, JUNE L 1933
n.
vT
W
TTIKN Prosldont olt
th»‘ «)l l*'*' wv'il'l
liirilT I no e , iifnil.iis I In-
Events the Wor^ld Over
United States Ple(iges Aid for Peace and Sernritv—J. P.
Morgan Questioned by Senate Committee—Plan
to Finance Public ViOrks Program,
B> EDV ARI) W. PICKARD
R';
i:sr(>M»iNa t«.
H (IciikukI for H
h'iir sfiiUMiicnt of the policy of
the t’nife<l .Suites lii jlu* ni;it!cr of
peace atui ilisarinanieiit, .N'onii::Ti M.
I (avis. Hmli:i<^aTlor I
larite. luitiopaced 'to
file (lisjiriiiMiiiciit con
fi'retice ill Cictieva
what s;eciiis to iiiaiiy
a feVjjihil ionary tic
piiriure iroiu traih'i
tional Ainericaii poli '
cies.*' .\ttparenl ly. it
means that the t'lilled
Slal*‘s has aliamloiieii
isolation, mMiiralitv
ri;:hts and tlie free
dom of lli^ seas. Spe
eifically, .Mr, Davis ple(l;:ed his pov-
erniiieiit never to interfere with Inter
national aetion a;.'ainsti h nation
that has heon satisfactorily idem
liti«‘d as an a^',;ressor, and to jiar
ficipate
Qn ttie He<-otid (Irt the wrnntorR
N. H. Davis
‘eflecti ve. ailtomniic HTTtV
internafional supervision
make certain tliat ttie na
out tlieir promises in dis
IT
rt»nt itinons"
(lesi;:ned to
tloiis carr\
arinamen;.
“I*ri*sidcnt Koosevelfs messif;:t*," tie
fliat tile I iiiled Slates will e\**rt its
full power and inlluence and accept
its Just share ol responsihililv to iniiUe
the resiills in disarmament definite,
prom|il and elleciixe.”
Ador annoiiminL' lliaf tlie ('nited
Stall's was willin;: to consult wilii tlie
otlier .stales in case of a threat to
peace, Mr. Ihivis set forth tlie Alner
lean policy in lliese words:
."Kurtlier tlian tlial, in tiie event
tliat till* stales, in conference, deter
mine lliat a stale has heei^ ):'iiit.'\or h
breacii of tlie peace in violation of Us
Unernalioiuil oUluiutiiuis, Jiiid take
lueaisnres aytainst tlie violator, then. If
we concur in flic jmlL'tuent rendered
as to the responsilde and jrullty parly,
we will refniin from any action teml-
inj; to defeat sncir cidlective efTort
wliich tliese states may thus make to
restore pt'iice."
Assert inn t iott lliere must lie real ac-
complishmr-nl la the way of dlsHrnui-
nieuf, or a reversion, to a race in arm-
Inn, -Mr. I (avis pro|iose(l drustfc arms
redtief ions, mill promised tliat tlie
I’liileil States would n** as far in fliis
as tlie otla*r stales.
f^eat Itritain, (Jenminy and Italy
were hlnlil.Vj .pleased vji ith .Mr, I (avis’
proiioUMcement,* hnt Prance remained
dissa^tlsfied. hotli willi the security of
fered liy tl(e I'nited Stales and will(
the I(a<is proposals for armament re
duction. 'I'lie more the Prench n«‘l. tjie
more they demand, and their olisfimicy
Is excis'dinirly Irrilatini: to the otlier
nations. I oreinn .Minister Paul lion
<‘our told I he ciiuffi'etice lliat Prance
Would Hot I'cdiicc licr arimimi''uts un-
h*ss a delijuic s,\>.teui of mutual as
sisiam e is t |•^•)1ll•d. 'supplemented li.v
neiiuiiie siipei v isiiiu of a’rmaiiiciits.
'llie supcrvxsiou, lie said, must t'spe
<*iall.x <(i\er armaments-' wliicli are
iiiaiiiitaci iircd iti priv ati' factories.
heard a lion I .Nlornitii A t'o.’s “preferred
li.st" of friends to wliom the firm sold
■Mlcahaux ('oriioraflori ^•omtuon for
‘'I’K a share \j lien* tlie nmrket price
v.as s;.-!.',. In rills ^ist were many
• ci.l known names. Including William
I. Woodin. now .secretary of the
icasur.v : Charles Prancis Adaiiis,
iler secretiify of llie’navy; Senator
.'Ic.VdiMi. .Newton h. Ihiker, .lolin W.
f (h\Is.''C«mi. .Tolin .1. Persiting. .Folm
.1. U.-^skoh, Silas II. StrawtiTHnd Col.
<'liarles A. Tandliergh.
Another list revealed Included the
naines of h.:ink oflicers and directors
to whom the .Morgan firm liad mttde
loans. Some of these loans had heeii
repaid, hut many had not. and In the
latter cjitegory the largest was a lit
tle over SCi.tMMt.tMMi to Charles FI
.Mitchell, fornier fireshlent of the Na-
tlotiiil City hank of New York, whose
trial for alleged. Incoim* tax evasion
asked
to
to a tarilT truce.petul.ng the tc.itco.m
lot the l.ondoti ecoiiomi<- con.criiue
; the adtiiinislratioii ilioiiglil it would
* not lie in, ijccoid v.illi good laitli to
assess tiow the processing laves <(!i
Wheat, cotton and perliaps cot ii and
i Hogs provided for in live tjirm relief
act. Uiit Secretary of .\grictilttjre yVal-
I lace thought otherwise, and slier a
I cvvnference with Secretary of Plate
I Mtill he was permitted to go ahead
' with this undertaking. Probably there
j will be protests from P.uroT'e and Can
j ada. and then the diplomats mnst get
! busy.
I SecretJtry Wallace and tlcorge N.
■ Peek, co-administralor of tlie farm re-
nicf Hcf. st'lecred TTiiy r.
I FA.'instoti as adniinisirntor in charge
of the packing house products under
the act. He Will have general chtirge
of trade agreenn'/^ts lietween pav'kers
' aiid liel vvj;en/^^od.iicei s and pnices-
. sors relativechiHly to hogs and their
I pi'oijuct.s. .Mr. Sliejijird was formerly,
vice pn'sident of the Cudahy Packiiig
company, 1
To. handle t.hc cot ton "ork under
the farm act C. A. (.'obb of .Alhiiita,
Ca., Wiis named, lie is editor ol the
Progressive F anuer Kuralit^t. Doth he
and Shepard rank alongside of Prof.
M. li, Wilson, apjiointed wheat admin
istrator some time ag((.
Mountville News
Monday and last week
a free clinic was h^d '-at Mountville
school, sponsored 'by the R. F. C. Dr.
I Mills assisted Mrs. Witherspoon and
others in examitlini!: the children. Par
ents have been notified of the various
defects found. The R. F. C. expects
Farm Prices Are /
Up 17 Per Cent
«
Upward Sweep Has Continued
Since April 15^ Talk of Cotton
Reduction Sends Price Up.
v,.
ing the opinions of grower.^ in the
Washington, May 29. ■—A 17 per South, Wallace’s discussion re^iief ting
cent ri.se in farm prices — the/most the possibilities of applying the plan
to aid tho.se famdies who are not fi- sensational spiral since the post-war j credited in part fdr an increase
nancially able to correct their needs, jboom days of April, 1919—was report-j of $1,50 a bale in the price of cotton
not produced, “would maintain cotton
prices at from 10 to 12 cents a pound.’’
Wallace made it clear tha-t a defi
nite program had not been adopted,
but a decision on w'hetber'any will bj
undertaken and the form it might
talie mu.st await the return in a few
days of C. A. Cobb of Atlanta, cotton
production administrator, now obtain-
♦
■4
ed today for the period April 15 to inuring the day.
One of the bigge.«t events of the May 15. |
.season was the .senior reception given, Xhe upw’ard sweep has continued
by the juniors last Friday evening. [ since that date.'
.May 19. at the home of Miss Zelle'
(’risp. The guests upon entering were
j given a conte.st to work, after which
prom.s and dancing were enjoyed. Lat
er in the evening delightful refresh-
ment.s were served by the juniors, as
sisted ’ by .Mrs. J. 0. I>ong and Mrs.
! Roy ,\(lams. '
=StatiMieiam a)f^4he=
N
Succesrful work for yeUr 1932-
,33 will ibe br<iught,to a close June 2nd.
The fir.st program oi commencement
will be held Sunday morning, ,lune 1,
I at 11 o’clock in the Presbyterian,
i church. Rev. Fi. M. Bostick, pastor of'
the Mountville Baptist church, wifi
' preach tlie sermon. Special musical
features will constitute a part of the i
'program. j i(,
j On .Monday eevning, Iitne .5, at K:1.5,
the annual gratninat- grade exerci.ses.
cultural economics who computed the
increase on the basis of prices -paid
farmers pn their local markets said
that, during the 30-day period the j
jirices paid by farmers for goods had
reipained unchanged at the pre-war
level. ^ I
.Meanwhile, Secretary Wallace said
plans were under consideration .for;
applying an acreage reduction pro- i
gram to cotton this year. i
He estimated that $10,000,000, if
spent in the form of rentals or bonus- j
e« to growers to reward them for,
turning portions of their land from|
cotton to crops of which a surplus i.s
INSURANCE
We offer expert service
and protection. Agent for
some of the strongest Fire
Insurance Companies in
T\merira.\
ESTATE
Town and country prop
erty. Prices attractive.
Clinton Realty &
Insurance Co.
B. H. BOYD, Agent
Ti:\V VOBK State eame to the fere
in favor of firobiliition repeal In
a niaiiiier that surprised even the ar
dent wets, 'rite vote was about twelvd jeonsisting of songs, plays, lecitations
to one tbroughout the stale, and In gnd playlets, will he gendered in the
was going (di in .New 5’ork city.
F i;i(i:bai. .ttimif: hakoi.d l<>t-
derliack of ('allfornia wits aeipilt
ed in the Inipeaehnient trial In tlie
1 Seiiat<‘. bti^ he escaiifd liv a narrow
margin, rin tin* fifth tind most com
pieliensivM eliarge 45 senafors vot»‘d
guilt,V and .‘M\for ae'iuiitiil. But tin
tier lilt* lonsirkiMioniil Impeiifliment
prtifediire a two Miirtls vote is neoi's
sjir.v for foiivictioii.
IF' Till'] iititiiinistriitioh and Its sup
-L tH+rP«,4*H in^-iU4gre.stv^ haVg-liielj.
the .t3,3(iti.(Kiti|l(»tMi national rec'ivery
liill, pnivitling for regiilatitui of iniliis
tries jind ftinsttuftitui
tif vast ptihllf wNirks,
will he liminceil hy
int-reasi'd inetmie ami
-ypw Vtir
ly forty to tme. 3'he.- I'lO delegates
elected to tlie coiivetillon all are
pledged it» repeal, ami they will meet
ill .Mhany on .lime 27 to ext*cute the
will tif the people. 'I’tie Ivtiiplre state
vrill thus hecoiiie the sixth tti ratify
the repeal aniendni<*nl to the t'onsti
fllliotl.
P ih:.'<iiif:\'I' iU(t),sii:\i:i/r asUed
of congress the sus|tension of the
law rt>t|uiring the goveiimr tif Hawaii
to Ih* an iicliial Tesitidnt t(f the is
lands. He saitl :
“It Is parih'ularTy Tret-e^sa^^^
left for the post of giivenior.t)f Hawaii
a nuin of experience anti vision who
will ht* rt'gartit'tl hy .‘ill citizens of the
islantls as one who will he ahsoliilely
impartial in Ills <lccisions t»n matters
be a diJTerfUt'o
The gradual ing 'exercises on June*
r>th, at H;3(l, will conclude the com
ment etmnf program for this schtdas-
tis term.
> The following program will be ren-
tlered:
.Salutatory, FJtuse Jacks.
('lass history, Lli/.abeth (Jootlman.
('lass poem, Bertha FAlnmnds,
(’lass pi‘o|)hecy, I'aul ('ole.
(’lass will, Augustu.s ICamage.
V'aleilictoty, Lillian Smith.
The adtlress will be deliveretl by
Dr. J )h», .MeSwet n, pre.sitlcnt of I’rcs-
byterian ridlege, Clinton.
Diplomas w'ill Ih* awarded :U) the
above mentionetl inembets. of the
gratluHting t'lass by J, (J. Long, .super-
intentlent yf^ the school.
ITilXotlTiP'’ taxes' 'a n d i.as to whieh Iheje may
hlght'f rncdiie rmpost-A| b>eaf npfnmn.. - ■=
on stock divitlentl.s. j making ni.\ choice,
Jts well as the Ctm I be free to |dck eitln.T
Nt-w-
Hugh S.
Johnson
ol the private hank-
r .Morgan A Co..
.Viuerica. was
hanking
Morgan
IN\ I S ri(:.\TI<(\
* ing tirm of
greatc.st of its
started l(v the
mil tee With .1,
pout .Morgan,
IKirincr. as chief wit
ness. The pro< eedings
were I’ondiictcd liy
F'erdimind l’*‘cora on
b4‘h,nlf of till* '<*t;m-
uiiiu-e and alt racial
a throng of s|K(i:i-
t4»rK, Jiiioi U,- fjui.s.
former I (cnioci .u ic
I'residciii iai Candi
da I e, -WHS 11ie4 e- as
<*ouiiscl for MoVgan.
end ttic haiikTr was s»*\eral limes re-
Ilev* rl fioiii nagging liuestioiis of |V
iHira hv the protests of S«*nators Class
;ind .\b-.\doo .tljijM iiii»*r»*sting to the
puldlc of the tacts hrougiit out was
that ii'i iiicoiiie. ta.x whalexci- was paid
by Morgan'»rC}iii\ (Sr Ids nineteen pari
lu'rs foi pril and I'.l.■'l2 and that tliey
iwid jin ;ia*i;rcg;itc of onl.x .s-Is.ikmi in
IfK-d*. Tl-tis wa>- twcituse «d V:-
los.ses susiaiiicd h,\ the firm. .Morgan
r«(uld not recall whether he personal
ly paid any tax in I'.Ciu. hut counsel
lor the iiixcstigatois said he did not.
Morgan ici.catedly iins\ver*H| “l <io uol
know” to Pecora s queries about a
$21 .(K«(.(•(>•( loss wriileii off his firm's
bo<iks on .laniiarx *2. 1931, in addition
to other di'dnciions which alteudy hud
wi|(ed out taxable income.
Finally tlm banker asked Leonard
.Keyes, utiiee manager of the tiriu, f.o
explain the matter.
Keyes said the inv4dv«-4l transaction
Hraa tite Inevitable result of a revalii--
atlon of asMds made n**i*es.sary by the
•dniissioH of a new imrtiier, .S, Parker
Oniiert. on JunuHry 2, I931.-
Pe<*ora bauiiiiered awiy wjth ques
tlons, biif Ke.vea. a methodical aptu'iir
ing limn wb«( a|s4ie rriaply ami with
out hesitation. re|M‘ate<| his account
over and over, lie testiflisl that the
$21 JkNMMkl losa could, as the law theii
Stood, have lieep dy*ductt‘d from the
firm's taxuhfe Income In 19,'11. 19.32 or
Three or four million drdhirg of
.f21,(ki(i.<Vi9. he aald, was detbu-ted
ftnat firortta In IfKH—• year iu/wlii(;h
tits fMirtnem r>Hid no tax—but h4»tie in
IIR2. when the firm ‘‘had l«« enough.”
I
tiiiUHtioii for one yetir i
of all the nuisaiK'e !
taxes levied in the |
revenue hill of 19.32.
'I'liat was the way It |
was re|K»rte<l to the
lioiise liy file ways
and niean.s commillee, and though the
l(e|(uhlicans and some otliers oliject i
ed to these faxes and fought for u
sales tax, that Is the way It Is likely ^
to l>'M‘oiiie law.
'I'lie sum of $*2*29.99<l,(XI9 nnniiallv
■ 1 •
w ill he needed for inten's’t and amor
tizjitioij of the puhlic works Ixind ks-
siie. and the comiiiill«‘e decided this
should he raised liy :
1. Iiicre.ise of the normal income
f:ix rate.s from 4 to (5 |»er cent on the
liist Sl.tMHi of ntd income and from 8
to 19 per “eelIt on all above $l.tK)9.
'Ibis IcvV is esliiii.'iled to rtiise .595.-'
tMMl.lMMI }i year. " j
2. I'Atension of the new normal In- 1
come tax rates to divideijjls now sub
.lect only to siirlaNes and t.ixatioii at
the .source, FAtim:ited to yiebi .<S,3,
AMMI.IMKI a .\ear.
.3. The adtlilion of iinuther tliree-
foiirtlis *»f M cent to the present 1
cent a gallon fedi't'al tax on gasoline.
l•^stimJlled to hriivg in'*'*92.999.99(1 an
nually.
'I’lievt* additional taxes, the rejiocFi
sjiid, “are temporary in eluiracter and
may he eliniinat(‘d hy procl/inmtioo
hy the President when operating rr>v-
eiiiies e\<*e(*d opi'ralitig expenditures. ;
or when the repeal of the FJghteentli '
W I
amendment o|)ens a new and am|de I
source of revenues to the govern- j
liienl."
'I'o administer tlie industry con-
froT fejiTUTcs nf the mr*asnrp when it
hecoiiies law. President Uooscvelt has
scicided Hugh S .lohnson of .Mo|,ne.
Ti iTsY" gctTTiTg'a iT
so he can go
to* wiirk promittly. He had a lai'ire
I should like
from the is
lands th«‘mselves or from the entire
Cnilcd h't.'iles the best mtin for this
post,"
year 7U,(JW() Ions of new.•'iiapers.
R
IxPOB'I'S from (’hiim. confirmed
hy the foreign office in 'I'okyo, said
that nn agreement for a Cliinese Ja|i
atiese triK'e In the nortli ('hina /ame
i. id hooii reached iind was ahout fo b**
signed. 'Ihe Chinese d«*f(‘nde)s of
Peiiting already lunl withdrawn from
that city and the .la|iam'sc wne only
a few miles away. It was understood
lliat the true** requited the Chinese
troops to rciiiaB' south of a line run *
ning from the Croat Wall norili o'*
Ih'iping .so'iitlioasf to I.ulai on the
coast, the line |>assing north of liotli
I’eiping and 'I'ientsin. 'Pints Ihe .lap
anc.se Would esiablisli the biifl'cr zone
whii'b limy demand between China ttnd
Mittichiikiio. 'Die I'liinese understood
this zone was to be administered by
Han F’u chit, governor of Shantung?
province,.and Hwang fit, nation:il gov
ernment represeiiUUive at Peiping. '
„ |(espife the reported truce theri* was
renewei/l fighting at the wtilled city of
’^'rungrcliow, 13 miles ejist of Pei|iing
' It is e.9imaU*d that at' leas*t a hun-
! di ed persons here make a living by
examining clothes in smart'shof) win-
. do,ws and sketching those which can
be copied.
I There is a cigar staml here that
used to, .sell cigars to former Presi
dent Hoover, Mr. Hoover used to pay
las much as fiO cents a|)iece for his
cigars.
AM)
Linen Suits
NEED CAREFUL CLEANING
We ar^ prepared to make them spotless for
summer Uear, (o clean them with the care they
deserve. ,
YOUR WINTER GARMENTS
. . . should he cleaned properly before storihK
them away.. Whatever the job may be,* let us
serve you.
W'e offer a complete
Uleaninn: Service
with low prices for (|uality work.
Buchanan’s
Satisfactory Dry Cleaning
“THE OLD RELIABLE’’
TELEPHONE 28
«
|i;i
Ilk. Hnd Im* hits ImhmT
orgaiii/iition In slnipe
prom|ifIy.
'ui.'irt in foriimhitlng tin* biM.
' A close jis.si'M iMT** of Bcriuirii Bu
riich. I(cmo«ratlc leader and N«hv
York financier. .lohnson was a mem-
bor of 4bo a44 war Uuiuslries lioar'd.
He WHS also head of the first draft
hoaid during the World war and since
then has had extensive experience In
manufacturing, tfe \vHsT)orh“ftrTxTilir
sas In ISK'2. He turned to the jirniy
for a <*arecr and was graduated from
West I'oint in P.Ht.'k When he retired’
In 1919 he wa.s a brigadier general.
P FkM'F' in ('ulia seems to he a long
way off. though the governiueni
eoiMimies with vigor its”efrorl.s to wipe
out the revolutionists. And, accord
ing to the latter,
I’resideiit >Iaehado Is
using more than vig
or. ((iieralioiis against
the o|ii(Osition are be
ing directed liy MjiJ.
Arsenio O r 11 z. Ma
chado’s chief 'military
strjitegist, and lie is
pursulugT. IP,., g g HI f»
tactics with which lie
terrorized Orieiite pro-
vtnee in-1931.
^ta (’lara and ('aina
gue.v provinces he iiiis be«*n Immjing
caidured reheks to tlu* trees along tlu'
higiivvjiys and in tlie toWns, ami it
was rei»orted tliat lie lield as liostages
the famlly-of (’arlos Leyva, wlio led
a reltel raid on 'raguaseo. threatening
to kill litem unless L<*yva, sur
rendered witli fifty followers. 'I’heii
Orjtz returned to Saueti Splritus. and
TT'wnsi' beth^erl be--won Id -pursue F}»e
sttnie riltlih'ss methods In tliat section
I.
Major Oritz
wi
E .XPANSION of cn*dit rather than'
of currency ims been started by i
tlte government 4^under tlie pow em
given the Presld**nt in tlie farm act '
5**<‘retaiy of tlie Treasury -Woodin
annoiineeii tliat the federal re.serve j
banks had rmide an InitijH purebaSe '
of $2.5.999.999 of govermm*nt bonds j
in the oi»en iliarket. ' i
"'rhnt'»ls the start of an infi.atlon-
ary step." Wmidin wild. "It Is being |
ilone to Inject something into the
market In other w’ords, to keep
thltigs moving along."
Woodin said additional pun-hases
would be “entirely dependent u|H(n
•conditions." The nevx' law authorizes
the re^*rve baiiks to buy up to $.3,
(MNMKKMKK) of securities.
A.
When the reM'rre banks buy .bonds,
cash balances of member banks are
Increased by eijual umpunts. 'i'lie ad-
niUilstiation hoiies tba( the b.iiiks.
with these additional funds on hand.
wMlI'aflvancb them to in«li:stry.*
rrn a stalely parade down
Michigan avenue, speeches hy
Postmaster Heiieral Farley and others
and uimli picti9*es(|ue <-ereniony, A.
(Vntucy uf Progr»*s8. ('hiengo's
World's fair, was formally thrown
open to thd piililic, and thotisaiids of
m«*n, WNtinen and <*hihlreti entered tlie*
vast e\|H)sition area and njarveliNl ;u
what had been aecompllshed. By
high pressure work the fair was ul
ready vlrtmilly coiniileted.
'I'he nio.st thrilling and dramatic
part of the proct*editigs came at
nightfall, when ihrougli a “luMik-np"
ob.'<crvatorii‘.s a
Arcturiis w;is
caught liy tclcsc«i|M*s, transmitted -to
the expusitron grounds and fised to
put Into ((peratlon ^the gorgeous li rlit
Ing system of the fair. A<*cordlng to
the wlentlsfs. the ray started from
Arcturus Just forty .vears ago, at tlie-
time the fair of IMVl opened.
The fact that Chieygo has creaiiH
this existsiiion during the depres.sior
is as iinpri'ssive as the fair ItselL
O tfiJi WVatern Nvwiieii^r I'aloB.
'of tfin*e astronomical
ray from the st.*ir
20 Minutes
versus
Have your neighbors ever dropped into your home to bor-
weekry t^neclToTnOf ,circular letters, hand bills, etc’, that
row
the users think are as good as advertising^ in your favorite coun-
n^'WevvspapefT
’ Few people realize the actual coverage of even the most
modest country newspaper. Not so loni;' a^o an advertising ex
pert was quoted as saying that careful research had ascertained
that a certa^ well-known metropolitan paper,is read, on an aver^
age, for the space of twenty minutes, while the average country"
newspaper has a “reading life” of three hours to its credit! It is
■kept ’round the house fo,r_a jw_eek ‘ai^ ev^yone in the, family
takes his turn in going through its pages.
- That is
think about.
7 -
something for both subscriber and advertiser to
The Chron'Kle
“The Family Newspaper Everybddy Reads’*
Telephone 74
U-
Sr