Decatur Daily Democrat, Volume 29, Number 303, Decatur, Adams County, 24 December 1931 — Page 5

ADJUSTMENT 01 all debts recommended [TINUED from page one, ] ||| t . Young plan envisaged." »nsfer of payments from one ry to another on the present can only accentuate the cial crisis. e release of a debtor country J a burden it is unable to pay ' merely transfer the burden to j TC ditor country which in turn he unable to bear it. ustnient of all reparations and debt settlements to harmonize the present troubled world t j on is the only lasting step r d world confidence. e linking of war debts anil atioi.s definitely raised the[ ion of the policy of the UnitStates government which lias [ rded the two issues as separbis adjustment should occur out delay if new disasters are e avoided, the committee real. adding that governments Id permit no delay "in dealing this great crisis which weighs >avily on all alike.” The report j an international conference ie widest scope to deal with entire situation. e committee pointed out that Young plan contemplated a |y expansion of world trade, eas a shrinking volume of i, and the exceptional fall of ■ ;old value of commodities had d greatly to the burdens of nerve, not only to tile German ities but to all payments fixed > old. The problem assumed d wide proportions with a e time parallel, the committee and the present dislocation r well involve profound changin the economic relations of ins. ction is most urgently needed much wider field than Gery alone,” the rdport stated, e committee doubted Ger- j y's ability to continue a surot exports at her recent level, ting out that Germany's indusproduction fell one-third ben 1928 and 1931. The commitbelieved that the burden of tion had become so high that s might be no margin for furthicrease. It expressed the opinthat when normalcy returns to nany, her railroads would yield operating surplus comparable! hat of every big foreign rail-1 company. mining the background of the Id crisis, the report noted re-[ id purchasing’ power, unemployt. slumps on world stock exiges, and withdrawal of foreign 1

“31ost dwrislu’ft anion it the (Lifts hcstoiucb hu the passimi near is the memory of the pleasant relations with those whom me have been priuileoeh to serve anb on behalf of our ent ire o rpa nidation * We e.xtenb corbial Cln*i st nuts (Greetings unit best utisites for tlie JCetv TJcan” , » The Suttles Edwards Co ...... . ... . Phone 3a» Niblick Block Decatur. Indiana

capital from borrowing countries The latest stage is the imposHon ot tariff and other reside! ions which have f urther redu international trade," the report said It pointed out the contradiC tions arising ln ~ gygtem . nv()]v ig large annual payments from debtor to creditor nations while simultaneously obstacles are plan ed in the way of the movement of | goods. I The report estimated that Ger'many had received 18,000,000 000 marks (»4.225,000.000) in foreign capital and paid 10,000,000 000 marks in reparations during the borrowing period. The committee cited the series of emergency decrees issued in Germany as convincing evidence of the Gwman government’s resolute I desire to meet the situation. The German delegation issued I the first summary of the committee's report, actually before the re- , port was sgned, for which they [severely criticised by other delej gates, particularly Sir Walter Laylion of England. It was held that . distribution of the summary by Dr. [Karl Melchior was aimed to take | the first advantage of world opin- : ion. 1 oints included in the German [summary were: .Since 1921 Germany has spent [22,000,000,000 marks on educationlai and public works projects; short [term loans from abroad made Gerimany vulnerable; abandonment of the gold standard by other nations ‘ caused 40 per cent of Germany’s I losses; a catastrophe is inevitable 'unless the interested nations treat the situation immediately in the ■ light of economic laws, namely a [combined debt and reparations conference; a moratorium of longer duration than the two-year mini- ' mum provided by the Young plan | is necessary. Dr. Walter Stewa.t of New York [member of the committee, said i linking in the report ot war debts and reparations "is broadly within [the scope of the Hoover moratorjium proposal." The summary of the report, issu[ed by the American delegation sup- , ported the German declarations. The committee was appointed by the Bank for International Settle- | ments as provided by the Young ! plan if Germany requested a reparations moratorium. The heads [of the delegations were: 1 Sir Walter Layton. Great Britlain; Dr. Walter Stewart. I’nited [States; Prof. Charles Hist. France; [ Dr. Karl Melchior, Germany: M. I Mogara. Japan: Alfred Beneduce, I Italy; Emil Francqui, Belgium: Dr. !R. G. Brindschedla, Switzerland; j Dr. G. .Duritch, Jugoslavia; Oskar I Rydbeck, Sweden: Hendrick Colijn, 1 Holland.

phLATUR DAILY DEMOCRAT THURSDAY, DECEMBER 21, 1931.

Sailor to Control Os $100,000,000 Business m *** * * * 10n ?iJn°i rg f an , Head of Gi gcantie Group of Aviation Interests, Credits Success to “Alma Mater”— the U. S. Navy. Hub I <L IrivW c* w % •' X .”•» WWIWiM! B ’ Thomas A Mcrgam tb- a Ld7% ie m u re ‘° th f United State ‘ tha " “seeing the world through a porthole is the conviction of Thomas A. Morgan, recently elected president of the Curtiss-Wright Corporation, who ought to know whereof he speaks; for he credits his remarkable success to the training he received while an ordinary “Gob” in the service of Uncle Sam Born >" Granville County. North Carolina, of parenta impoverished by the Civil War, Tom Morgan started work at an early age plowing fields for 24 cents a day, and was 11 years old before ha went to school. By the time he was 16 he had a total of only nine months attendance at classes. Determined, however, io secure an education, he worked his way through high school at Littleton, N. C., but didn’t succeed in finding a job; so he joined the navy and immediately enrolled in its electrical school. It is to the technical training he received therein that he credits his phenomenal success and is proud to a’lude to the Navy as his “Alma Mater.’’

New York. Dee. 21. There’s more] to joining the navy than simply i ‘‘seeing the world through a port-1 hole." At least that's the opinion of Thomas A. Morgan, who ought to know. * It’s a far cry from navy ‘‘noncom" in 1912 to head of businesses capitalized at more than $100,000,000 in 1931; from the wires and radios of warships to the management and direction of a gigantic group of aviation interests, but timt's the jump Thomas A. Morgan lias made. The other day, through his election to the presidency of the Curtis-Wright Corporation, to membership in its executive committee and to chairmanship of the boards of its seven subsidiary companies, the erst while chief electrician in the navy became head of the largest aircraft company in the world and chief executive of one of the greatest groups of aviation interests. Tom Morgan is proof that opportunities for the young man in America didn't disappear with the war. He is also staunch champion of the navy and the training it affords young men unable to attend college and civil institutions of higher learning. Morgan regards the I nited States Navy and the four years he spent in its ranks with much tlie same sentiment, the same affection, the "old grad" holds for his Alma Mater. "I'd like to go on record with the statement that there is a whole lot more to an enlistment in the navy —or in the army, either, for that matter -than just “seeing the world through a port hole.” Mr. Morgan will toll you with decided emphasis. "The navy was college and more to me. It gave me a splendid technical training and a contact with men which has been invaluable in business. In fact, it was through the navy that 1 got my first real job." That “job" was the stepping stone t > one of the highest posts in aviation. Today, at the age cf 43, the one-time southern 1 farm boy .■nd sailor is president not only of the Curtiss-Wright Corporation but also of North American 'Aviation. Inc., one of the strongest financial ■ roups in the industry. He is a BORAH URGES SALARY CUTS (CONTINUED FROM PAGE ONEhis friends spent the remainder of the holidays answering him. During the holidays of 1928 Borah was again on his favorite topic of an extra session, publicly reminding Mr. Hoover that as the president-elect he was pledged to call congress as soon as he took office. In 1926 on Christmas Eve BoraJi criticized the administration's landing of marines in Nicaragua. Borah puts in these blows at Christmas time because Congress Is not in session and he has a clear field. None since Roosevelt has displayed Borah's shrewdness in seizing the right time to hurl the harpoon. His Christmas news has become such a staple that every year Washington correspondents make their Christmas engagements “on condition that Borah doesn't start something.” As to pay cuts, Borah has the

|chief executive in aviation acitivj ities ranging from the construction of planes and motors to the operation of transport lines, flying services, and the manufacture of scientific instruments of navigation. As vice president of Eastern Air Transport, lnc„ Morgan is an officer of one of the longest regular air transport routes in the world, flying an average of more than 12,000 miles daily. As president of the Sperry Gyroscope Com pany, he has contributed largely of his talents in giving the world such complicated instruments as the gyro horizon, the directional gyro, the automatic helmsman, the robot airplane pilot and many others. As democratic and hospitable as the folks back in his native North Carolina, Tom Morgan sees nothing worthy of comment in this saga. To him it is simply the story of a boy who was determined to make good. Horn in Granville County, North Carolina, of a once well-to-do family, impoverished by the . Civil War. he worked at an early 1 age for 24 cents a day plowing i fields from sun-up to sun-down and ■ was eleven years old before he ever ' went to school. By the time he was ■ 16 he had been able to attend ' classes a total of only nine months, i Determined, however, to procure an ■ education, he worked his way ■ through high school at Littleton, N. C., and then sought a perman- ■ lent job. When none which seem- ; cd to him to present sufficient fu- • ture appeared on the horizon he joined the navy and immediately 1 enrolled in its electrical school. i It was while in the navy, in 1911. - that he met the late Elmer A. 1 Sperry who was then developing I his gyroscopic compass. Morgan i installed the first of these devices in the U. S. S. Delaware and on his t discharge from the navy in 1912, t immediately became service en- • gineer for the Sperry Company. In ; 11922, while in Japan and the Far • East, lie became a vice-president I’l of the company. The rapid ad- ■; vanee which led to the high posifjtion he holds today began in 1928 II when the Sperry Company was sold .Ito North American Aviation, Inc., l|and he became president of the 11 tot mer organization. | right to bring this subject up if i any one does. Borah refused to ’ take a $2,500 pay in 1025 increase j on the ground that he had been ' i elected to a $7,500 job. Then he was reelected in 1930, he accept.ed his pay at the SIO,OOO rate. Up to this .point little has been , heard in congress concerning the , possibilities of wage reductions. 3 Rep. Will Wood, Repn., Indiana, j was the only outstanding advocate c I of such a drastic measure. Presi- | dent Hoover has been opposed to j i the suggestion all along, although no recent statement has come 3 Irom him on the subject. His Policy has been to maintain i wages at their present level. : t| “Boy" Stayed Out Nights s Memphis, Tenn. (U.R) A woman 1 here recently called on police to s find her "boy." who, she declared, t had stayed out all night. The desk i- sergeant culled off the search when i- he heard the "boy” was 20 years t old. eiGet the Habit—Trade at Home.

PROGRAMS FOR OCCASION WILL BE PRESENTED (CONTINUED FROM PAGE ONE) itemized statements are filed. It is regarded by local people as one of the most worthy Christmas enterprises. Elks Lend Aid Members of Decatur lodge of Elks started to deliver the baskets of food for the Christmas dinner to the poor of the city this afternoon. Sixty baskets, each containing a chicken and other good things to eat, were delivered to the homes of the needy throughout the city. Each basket was heaped with articles of food and in most cases will go to make up the Christmas day meal for the recipients. The baskets were delivered in automobiles furnished by Joe Johns, O. W. P. Macklin, Charles Weber and Dick Tonnelier. These men were assisted by Lawrence Beal, Bert Colchin, Vincent Borman. and Frank Schumaker in the delivery of the baskets. The J’inal check-up was made last night by Dr. Roy Archbold, chairman of the Christmas basket

STARTS WITH SATURDAY MATINEE EWRUWUE A BRAND NEW COMPANY,- STORTINGBIG MIDNITE SHOW SAT. NITE & NEW YEARS’EVE RESERVE SEATS FOR MIDNITE SHOWS Telephone Eastbrook i 650 -

committee of the Elk’s lodge and from the list of names furnished a total of about 60 were put down to receive baskets. Lions’ Party The local Lions’ Club entertained a group of Decatur boys with a party in the Christian church basement, Tuesday night. Each member of the organization invited a boy as his guest at the meeting. Rev. B. H. Franklin had charge of the program for the evening. A delicious venison dinner was served, and the meat was procured by Rev. Franklin on his hunting trip to Canada recently. Following the meal, games and contests were enjoyed, and gifts were distributed to the boys. Catholic Church Father Adrian, a Capuchin missionary from Huntington, is assisting at the St. Mary’s Catholic church during the Christina! services. Nine masses will be said Christmas morning, the first mass being at five o’clock. This mass will be a solemn high mass. Masses will be said up until 9:45 when the last mass will be celebrated. Members of the congregation will receive Holy Communion at the morning masses.

YESTERDAY, Today or Next Week WHEN an advertiser puts his trade-mark on a product and bis money behind it, he wraps his reputation into the package. That is why the purchaser of advertised goods can take an unvarying standard of quality for granted. Look through the advertising columns of this newspaper and notice the number of established products you see listed there. As you read the name of each one, you form an instant mental picture. Its size, color, shape, flavor and quality are known factors, as staple as wheat. You know that whether you buy the article today or next week, it will be precisely what you want — the same uniformly good product that gave you satisfaction when last you used it. That is one of the tremendous advantages that advertising has brought you as a consumer. You know before you buy that the maker, whose business success is tied up with his product, will see that quality is maintained. You know that if any change is made in an advertised article it will be to improve it—to give you even greater value for your money. A chi can trust advertised goods. Decatur Daily Democrat

Lutheran Church Divine services will be held at the Zion Lutheran church tomorrow, Christmas morning, beginning at 10 o’clock. The pastor will base his words on the Christmas message of the angel of the Lord saying in Luke 2, 11: "For unto you is born this day in the city of David a Savior, which is Christ the Lord." The church choir will sing "Glory to God in The Highest," by H. B. Proehl. Holy communion will be celebrated during this Christmas service, which will lie preceded by a confessional service beginning at 9:40. The pastor, Paul W. Schultz, herewith extends to members of the Lutheran church, friends, and all true Christians, joy and rich blessings throughout the new year.

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PAGE FIVE

Counties Use Voting Machines Harrisburg, Pa.— (U.R) —Voting machines have been adopted for use on a country-wide basis by 10 counties in Pennsylvania, according to an official announcement. The 10 counties contain more than one-half of the s’ate’s population. Histoi y Course Leads Cambridge, Mags.—,U.fo-A course in European history from the fall of the Roman Empire to modern times is the most popular at Harvard College this year, with ah enrollment of 749 students. o Radio to Carry Good News Medford, Mass. —<U.R)-- No school [signals for Medford school children henceforth will be broadcast by [radio as well as sounded on the fire alarm system.