MEMBEP ASSOCIATED PtrESS
VOLUME XXIX. NUMBER 154.
SEWARD, ALASKA, MONDAY, JULY 3, 1933.
PRICE TEN CENTS
MONETARY CRISIS IT I
CONFERENCE BELIEVED
HIVE SEEN PISSED
PARIS, July 3. —France will con
tinue to participate in the World
Economic Conference in London
despite President Franklin Roose
velt’s rejection of the gold bloc’s
currency plan, it was indicated in
government quarters.
French bitterness and disap
pointment at Mr. Roosevelt’s ac
tion was not concealed but Georges
Bonnet, French finance minister,
plans to return to London today
armed with renewed instructions
from Premier Edouard Dalladier
to carry on the fight for currency
stabilization accord.
The French intend to proceed
with their move to again seek a
currency agreement among the
continental nations if Britian and
the United States, both of whom
are off the gold standard, refuse
to participate in such a plan. They
feel that once such a plan were in
operation among the European
nations it might be adhered to by
both the British and the Ameri
cans.
President Albert LeBrun, aban
doning the chief executive’s tradi
tional aloofness from p o 1 it i c s
which is in the hands of the
prmier and his ministers, reaf
firmed France’s insistence on the
stabilization of currency at the
London parley.
At London the belief that the
currency crisis of the Conference
had been successfully passed pre
vailed late Sunday after Secretary
of State Cordell Hull, chairman of
the United States delegation, gave
the gold bloc nations the main
points of the United States mone
tary policy in advance of a public
statement today.
President Roosevelt’s rejection of
the plan to permit central banks
to cooperate to end ruinous spec
ulation in currencies resulted in
an afternoon and night of renewed
activity with unbroken conferences
in Number Ten, Downing Street,
and the hotel rooms of the dele
gates.
Advance information on the Un
ited States plan was conveyed to
the gold bloc representatives by
Prime Minister J. Ramsay Mac
Donald for Secretary Hull.
SNELL’S ATTACK ON
ADMINISTRATION IS
POOR FORM FARLEY
WASHINGTON, July 3. —Post
master General Farley dismissed as
a “ruthless, reckless exhibition of
petty partisan politics,” the criti
cism of the administration a week
ago by Representative Snell, New
York republican house leader.
Farley declared that the country
as a whole is marching solidly be
hind Roosevelt and are rejoicing at
the general continuous revival of
business.
Presumably the attack was in
tended as the opening gun for the
next congressional election. Farley
called it a dud and declared that
the people would not stand for
obstructions. Farley also said he
felt that there was no need to an
swer Snell’s attack in detail, con
tending that it is being answered
daily in “reports of a steady rise
of commodity prices, reopening of
factories, increases in employment,
wages, railroad business, retail bus
inesses, price and securities.”
Alfred Rosness, fishing in Resur
rection Bay today caught a big
iring salmon which was over four
feet long and weighed 45 pounds.
I APPOINT CONSERVATORS
WASHINGTON, Julq 3. —Fed
i eral conservators for every unlis
J censed national bank in the coun- |
try, numbering more than 1,000,
have been appointed by the Comp
troller of the Currency.
SENATOR ROBINSON
i RETURNS RAIL VISIT
I
j A special car, which left Anchor -
i age early this morning, arrived in
\ Seward around the noon hour to
day bringing Colonel Otto F.
Ohlson and his distinguished guests, i
Senator Arthur R. Robinson, W. C. i
Magathlin, commander (E) of the]
Chelan: and Lieut.-Comdr W. G.;
Bloom, executive officer of the
Chelan. They have completed a;
trip over the Alaska Railroad hav
ing left Seward Saturday morn- •
ing and after a brief visit at An
chorage, continued on to Fairbanks.
At Anchorage the Senator visited
j the airport and other facilities of
j the Inlet town.
The Senator was to be a guest of!
the Seward Chamber of Commerce |
at noon today at a luncheon in I
Cameron’s Cafe. Following the j
luncheon he was to board the Che- !
Ian and go to the Westward as ;
far as the Pribiloff Islands.
KIDNAPPERS STILL HOLD
IRE
CHICAGO, July 3. — A board of
strategy, composed of 12 close
friends of John Factor, kept con
stant vigil in a Loop hotel tower
Sunday in an effort to secure the
millionaire’s release from kidnap
pers.
Factor, a master strategist him
self, who climbed spectacularly
from the position of bootblack to
fame and notoriety, had been in
the hands of kidnappers since
early Saturday when his craving
for another whirl at the wheels
of chance led him to a roadhouse
far removed from police protec
tion.
CHICAGO STRUCK BT
nil HI STORM
CHICAGO, July 3. — A terrific
wind and hail storm of cyclonic
, proportions swept sections of Chi
cago and its western suburbs Sun
day and caused damage estimated
rat between $600,000 and $1,000,000.
Roaring in from the West be
tween two and three a.m. the
storm snapped off huge Ifc-ees at!
their bases and flattened houses;
in Glen Elyn, a western suburb.
The wind also blew out all the
windows in entire business blocks,
blew chimneys off houses and cav
ed in the roofs of other buildings.
i
MOHO RAIDERS ARE
MANILA, P. I. July 3. — Thir
teen Moro raiders were killed by
a Philippine constabulary patrol
headed by Lieut. Ramon Ageles, it
was announced here Sunday._
~ Butu Daud, leader of the Moros,
was reported among the dead.
The battle took place on Patian
Island where the Moro band a few
days ago massacred eight native
fishermen at a fishtrap. Lieut. Ag
eles headed a punitive expedtion.
J BABY GIRL FOR NELSONS
| A baby girl was born this morn
i ing to Mr. and Mrs. John Nelson,
J Jr., in the Seward General Hos
: pital. Johnny Nelson, the proud
| father, recently received several
| boxes of a well-known brand of
I cigars, it is said, and will spend
most of Fourth of July handing out
smokes in honor of the "Blessed
I Event.”
MAKE IT A GOOD FOURTH
With the Fourth of July tomorrow every effort
should be made by local people to make the celebration
just as eventful as ever. The American Legion members,
although working under the handicap of inadequate fin
ancial resources to put on a big show, have taken steps
to overcome this apparent shortage and all they need now
is the cooperation of all the people.
The program schedule provides for a parade, foot
races, bicycle, races, egg races, potato races, relay races,
a big baseball game and a public dance in the I. 0. 0. F.
hall.
With the right cooperation this Fourth is certain to
I be a successful one.
I "ME IDE B*RBER"
I CHICAGO, July 3. —John “Jake
| the barber” Factor, accused of en
; gineering one of the greatest
swindles in British financial his
tory, was kidnapped near a road
house in a suburb on the North
Side.
Factor was abducted with A1
Epstein, a purported gambler, as
! they drove away from the tavern
wth two women. Five men in a;
large touring car overtook Factor’s j
automobile shortly after he drove |
away from the roadhouse and fore- |
ed Factor, Epstein and the two |
women to enter their automobile.
THE STOCK MARKET
1 NEW ORK, July 3. —Latest quo- |
tations from the New York Stock
Exchange: Am. Can 89%, Am. Pow.
Lt. 12%, Am. Sug. Ref. 64, Am.
Tel. and Tel. 126, Anaconda Cop.
12%, Avat. Corp. 11%, Baldwin Loc.
11%, Beth. Steel 40%, Borg. War
! ner 18%, Brunswick Balke 16, Can
I adian Pac. 18%, Case 88, Cater.
! Trac. 23%, Chrysler Corp. 33%,
j Cuban Am. Sugar 8%, Curt. Wright.
I 3, Dome Mines 31%, DuPont 76%,
| Eastmen Kodak 83%, Elec. Pow.
Lt. 12%, Firestone 23, Freeport
' Texas 36%, Gen. Elec. 23%, Gen.
Motors 29, Goodyear 36%, Int. Tel.
and Tel. 18%, Johns Manville 50,
Kennecott Cop 19%, Ligg. Myers 92,
Mack Tks. 40%, Montg. Ward. 23%,
Nash Mots. 20%, Nat. Distil. 97%,
N. Y. Central 40%, Nor. Am. Aviat.
7%, Pacific G. E. 29%, Pac. T. and
T. 88, Postal Tel 25%, Pullman 50,
Radio Corp. 9%, Reynolds 61, Sears
I Roeb. 37, Sou. Cal. Edis. 24%, Sou.
[Pac. 29%, Std. Oil, Ex. 99%, Std.
| Oil, Calif., 35%, Std. Ol, N. J. 37%,
Un. Pac- 115, Unit. Carbon 24%,
Unit. Corp. 11%, U. S. Indus. Ale.
60%, U. S. Steel 57%, U. S. Tob.
86%, Vanadium 14%, West. Un. Tel.
54%, Westgh. Air 29, Westgh. Elec.
Mfg. 44%, Woolworth 45%; Pound
Sterling drafts 4.33%, Cable 4.34;
Yoko. Yen 27.55.
GAVE DANCE SATURDAY
The officers and crew of the
Coast Guard cutter Chelan gave
a free public dance Saturday night
to the people of Seward. In ad
dition to regular dancing a prize
waltz dance was staged and two
couples were selected as the best
on the floor. Don Lopez, of the Che
lan, with Miss Maude Larsson, as
his dancing partner took first
prize and R. E. Frederick, also of
the Chelan, with Mrs. Katherine
Hall as his dancing partner, took
second prize. It is not known what
tht prize awards were.
LOOKS LIKE ANOTHER
DIVORCE FOR HOL11WOOD
j HOLLYWOOD, July 3. — The
| end of the famed Hollywood ro
j mance of Mary Pickford and Doug
i las Fairbanks, Sr., was forecast de
| finitely Sunday when it became
j known that their mansion Pick
! fair is for sale.
| The disposal of Pickfair was re
garded as the first open break
leading to a prospective divorce in
Hollywood’s first family despite
efforts of both Miss Pickford and
Fairbanks to prevent it.
Saddened and tearful Miss Pick
ford confirmed rumors of the se
paration and indicated that a di
vorce would follow although
friends said she had taken no
steps to obtain one. incompatibili
ty will be the grounds for divorce,
it is asserted.
■ •» ■ ■ -
CHICAGO, July 3. —Lee Turner,i
34, a former convict, and at one
time sought as a suspect in the
Li n d be r g h kidnapping case, was I
being held here for federal auth-1
orities.
Although police believed Turn-|
er’s arrest was in regard to a new
development in the Lindbergh case, |
federal authorities said Turner!
was wanted for violation of the
Dyer Auto Theft Act.
WIDOW “RUBBED OUT”
NEW YORK, July 3- —Mrs. Alice
Kenny Diamond, widow of Jack
“Legs” Diamond, one of New York’s
most notorious gangsters who was
killed by gangster bullets some !
time ago, was found dead in a
Brook 1 y n apartment, apparently
having been murdered. A physi
cian said she had been dead per
haps for days. She was last seen
around the apartment house Mon
day. Police believed she had been
“rubbed out” because her tongue
had wagged too freely in Brooklyn!
speakeasies.
WASHINGTON, July 3. — All war
and peacetime mobilization records
were smashed by the War Depart
ment when it placed 250,000 unem
ployed youths in the Civilian Con
servation Corps camps by July 1,
Robert Fechner, director of the
Emergency Conservation Work, in
formed the president be letter.
The order to enroll 274,375 by
July 1 and to put at least a quar
ter million camps by that date had
“been carried out to the letter.”
WORK FOR MANY
WASHINGTON, July 3. —Work
for at least 100,000 men will be
provided within six weeks on gov
ernment road jobs, officials pro
mised.
!
MAKE HOP ICELAND
LONDONDERRY, Ireland, July 3.
—The 24 seaplanes in the Italian
aerial armada, on a flight to Chi
cago, rode at their moorings in the
landlocked harbor here Sunday
night. They awaited the dawn
when they planned to proceed on
to Iceland on the next hazardous
! leg of their trans-Atlnatic flight
to Americ a .
The air fleet, led by General It
: alo Balbo, was saddened by the loss
! of one man and the serious injury
j of two others in an accident which
occurred in landing Saturday at
Amsterdam. They made the 630
mile flight here from Holland
without accident.
They averaged about 130 miles
an hour for the hop and after
circling i n formation gracefully
over the harbor they swooped
down to the rippling surface of
the bay at 12:38 p. m.
The plane wrecked Sunday in
Holland was replaced by a 25th
machine which had been attach
ed to the fleet for just such an
emergency.
FIHCIIIL LEADER
TELLS HON MIESI1IC
*
PUBLIC LOST MONEY
WASHINGTON, July 3. — Otto
; Kahn told the Senate stock mar
| ket investigation committee how
i he and his associates acquired 10,
he and his associates acquired $10,
000,000 profit on a transaction on
which the investing public event
ually lost $106,000,000. It was a deal
brought out by the struggle be
tween the two great financial
groups for control of the railroads.
On one- side was the House of
Morgan and its powerful allies, the
Van Sweringen brothers. On the
other side was the Pennsylvania
Railroad and the Kuhn, Loeb, and
Company, of which Kahn is the
senior partner.
Morgan and the Van Sweringens
worked through the Alleghany Cor
poration. Morgan put up the monr
ey for the Van Sweringens to ac
quire control of the railroad. The
Pennsylvania road began a coun
ter-offensive. They came to the
firm of Kuhn, Loeb and Company
for advise and money to aid in
the fight.
The result was that the Penn
sylvania Railroad Corporation,
a holding company, was formed
and the issuance of 10,000,00 trust
certificates was authorized. Kuhn,
Loeb and Co., financed it and a
cash underwriting fee of sightly
more than $5,000,000 was put up.
In addition Kuhn, Loeb and Co.,
was allowed to purchase 250,000
certificates at $15 each, and 500,
000 more in blocks of 125,000 at $16.
Ferdinand Pecora, senate commit
tee counsel brought out that a list
of preferred persons was invited
by the firm to participate in the
Pennsylvania Railroad stock at $15
a share.
LARGE SOURCE REVENUE
WASHINGTON, July 3. —The re
vived beer business, now some
three months old, is providing
Uncle Sam with his fourth largest
source of monthly revenue receipts.
So far this revenue has been run
ning close to an annual yield of
$125,000,000 to $150,000,000 it has
been estimated by government of
ficials. More than $11,000,000 was
brought into the Treasury coffers
during the month of May and this
is taken to be an average monthly
receipt.