Indianapolis Times, Volume 44, Number 262, Indianapolis, Marion County, 13 March 1933 — Page 3

MARCH 13, 1933.

SOCIALISTS ASK GOVERNMENT TO RUN ALL BANKS Program Drafted at Parley Here to Be Presented to Roosevelt. A program for cure of unemployment and banking ills, adopted by the Socialist party of America here this week-end, will be presented to President Franklin D. Roosevelt in Washington Tuesday. Norman Thomas, 1932 Socialist candidate for President, outlined the program at a mass meeting in Tomlinson hall Sunday night. On banking, the party’s executive committee suggests: Controlled inflation; restoration of purchasing power to the masses, and socialization of the banking system. Equal Credit Flow Goal The party proposes to socialize the banking system, Thomas said, by nationalization of federal reserve banks, expansion of postal savings banks, and establishment of a board to equalize the flow of credit. “We advise leaving some banks in private operation, but these few will prove such banks can’t compete with government operation.'' Thomas asserted. “Any bank that has to ask the government for aid should immediately relinquish its right to operate itself and should be regulated by the government.” 30-Hour Week Pushed The party will request that bankers, not the government, guarantee depositors and that “credit control be used as a weapon to bring about the thirty-hour week,” he said. To cure unemployment, the party will lay these points before the President; Immediate federal aid for ail needy, administered through boards comparable to war-time draft boards; six billion dollars for public works, one-half to rehabilitate slums of our cities and bring idle factories and men together. This three-point program would be financed by increased inheritance and income taxes and a graduated capital levy on wealth, Thomas asserted. Skip-Eleetion Law Hit Daniel Hoan, Socialist mayor of Milwaukee, who also spoke at the mass meeting, assailed Indiana’s' new “skip-election” law, the new law prohibiting interference with delivery of agricultural products and the “new deal” that reorganized the state police. “If the farmer wants to strike against injustice in Indiana he will be faced with ten years in prison,” Hoan said. Also attacking Indiana’s new laws, Powers Hapgood, 1932 Socialist candidate for Governor, jsvho presided, said: “Unless the people arise and protest, the ‘skip-election law’ will mean permanent abolition of elections in this state. It is time for the people to insist on their rights. DEATH EXPECTED TO END DREAD OF -HOME’ Fear of Entering Institution Provokes Suicide Attempt. Death is expected to end the fear of 81-year-old Mrs. Rachel Hollingsworth that she might face life’s sunset in an institution. She inhaled gas Sunday night at the home of her daughter-in-law, Mrs. Caroline Hollingsworth, 43, of 216 East Ninth street, Apartment 7, in a suicide attempt. She is in serious condition at city hospital. Seating herself beside a gas hotplate, the aged woman opened its three burners and covered her head with a towel. She was found a few minutes later. Firemen used oxygen to revive her. Relatives said Mrs. Hollingsworth had expressed a fear that she might be placed in a "home.” She has been an invalid twentyfour years due to hip fractures incurred in a fall. AGED MUSICIAN DIES AT NORTH SIDE HOME Frank P. Randall, 77, Lived Here 50 Years; Funeral Tuesday. Funeral services for Frank P. Randall, 77. of 1550 College avenue, a resident, of Indianapolis fifty years, who died Sunday in his home, will be held at 2:30 Tuesday in the Hisey & Titus funeral home, 951 North Delaware street. Burial will be in Columbus. Mr. Randall was born in Blissfield. Mich., and was a prominent musician in Indianapolis during his early life. He was a member of Pentalpha lodge, No. 564, F. and A. M.; the Shrine and the Scottish Rite; the Improved Order of Red Men, the Elks and the Gatling Gun Club. RARE BOOK IS FOUND Buys Volume for $25; Finds It’s Worth SIO,OOO. By United Press SEATTLE, March 13.—A rare book, written by Edmund Spencer, which remained hidden for about two centuries, has been found by Dean Frederick Morgan Padelford of the University of Washington. Dean Padelford, a student of Spencer, saw the book listed in a London catalogue for $25. Although j skeptical as to its authenticity, he wrote for it and was amazed on its arrival to learn it was a rare volume valued between SIO,OOO and $50,000. * BOYS LEARN TO COOK And They Get Belter Grades Than the Girls, It’s Found! By United Press SEATTLE, March 13.—The next generation of boys at Queen Anns high school are either going to be bachelors or hen-pecked husbands. Many of the prepsters there are taking cooking Isssons in the school’s home economic department. And the funny part of it is, they i actually be getter grades than most of the girls! Auto Service Men to Convene A number of nationally known speakers are on the program of the fourth annual conference on automotive servicing to be held Thursday and Friday at Lafayette by the Purdue mechanical engineering school. The conference will bring together owners, service managers and shop foremen. I

HIGH SOCIALISTS ATTEND NATIONAL CONFERENCE HERE

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CHINESE LAUNCH FIERCE ATTACK Japanese Face Swords and Pistols as Defenders Rally. By Unilerl Press CHENGTEFU, Jehol Province, March 13. Chinese forces have launched a spirited counter-attack against the Japanese near Fanchiakow. A continuous battle beginning Sunday still was in progress today. Using swords and pistols, Chinese engaged in hand-to-hand fighting with mountain artillerymen of the Hattori corps, caught in a surprise attack. Airplane ambulances were used to rush the wounded in base hospitals at Chinchow, Manchuria. Simultaneously, Japanese carried out an airplane bombing raid south of Kupeikow, turning the advance of Chinese troops into a rout. Japanese Halt Advance By United Press KUPEIKOU, China, March 13 (by courier to Chinchow, delayed).— Japanese troops are not intruding southward into China proper farther than they regard necessary to guard their newly acquired territory from attack, it was announced today. Having completed their swift conquest of Jehol province by capture of this key portal of the Great Wall, the Japanese now are consolidating their positions. American Fliers Move By t nited Press NANKING, China, March 13. Colonel J. H. Jouett and fifteen American instructors evacuated the Hangchow flying school tonight after rumors that Hangchow might be attacked by a Japanese air force. Flying Chinese planes, the aviators moved to Loyang, where they re-established their school and resumed preparations to train Chinese fliers. DR. L. H. DIES AT HOME HERE Physician Was Anesthetist at St. Francis Hospital. Funeral services for Dr. Lindley Hastings Stafford. 48, anesthetist at the St. Francis hospital, who died Sunday in his home, 111 West Hampton drive, will be held Tuesday in the SS. Peter and Paul cathedral. Place of burial has not been decided. Dr. Stafford was born in Newcastle and received his medical degree at the old Physio-Medical college. He served in the medical corps as a captain during the World *var, being stationed at Camp Meade, Md., and later at the New York Polyclinic hospital. He had been a staff physician at the St. Francis hospital fifteen years. Honorary pallbearers at the funeral will be members of the staff of the hospital. Dr. Stafford was a member of the Indianapolis Medical Society and the SS. Peter and Paul cathedral.

Details of Coast Quake Told in Letter to City Man

Seconds Like Minutes as Shocks Continue, Says Note to Brother. BY HELEN LINDSAY While he sat in a room continuously shaken by recurring shocks of the earthquake, Dr. S. Theron Johnston. Santa Ana, Cal., described details of the disaster in a lttter to his brother, Merton A. Johnston, 3180 Kenwood avenue. The letter, which came by air mail, was received in Indianapolis this morning. ' Last night at 5:54 there occurred a very heavy earthquake, lasting for a piotracted period,'’ Dr. S. Theron Johnston wrote. ‘ Actually, it must have been something like thirty to forty-five seconds, but it seemed about five minutes.” The letter mentions other tremors felt by Dr. Johnston as he wrote. ‘ The shock was the heaviest I believe for many years, if not the hardest. I ever have felt. The center seemed to be about Long Beach, where a good many lost their lives, most of them by running into the streets and being buried by falling debris. Three lost their lives here in Santa Ana. A man and his wife, walking in front of the Rossmore hotel, and a lad. whom I knew, was hit by falling bricks.” the latter continues. ‘‘We could not get into communication with mother and daddy, so we drove over to Arcadia. Practically no damage was done there, as the shocks were much lighter in that locality. We sat there in the house for about an hour and a half and felt no tremor, while they occurred here at about ten to fifteenminute intervals, and at times much more frequently.

Attending a conference of the Socialist national executive committee here over the week-end were, seated, left to right, Clarence Seinor, national secretary; Darlington Hoopes, member of the Pennsylvania state legislature and acting chairman, and Norman Thomas, 1932 candidate for President. Standing, left to right, Daniel Hoan, Socialist mayor of Milwaukee; Powers Hapgood, 1932 candidate for Governor of Indiana, and Leo Krzycki, secretary of the Socialist party organization in Milwaukee, During the meeting a banking legislation program was formulated for presentation to President Roosevelt.

M'NUTT GIVES TALK BEFORE HIBERNIANS U. S. in Mo Danger, Governor Says at Breakfast. Courage, devotion and loyalty of the type inherent to the Irish people will preserve America, Governor Paul V. McNutt declared Sunday morning in addressing the fifth annual St. Patrick’s CommunL i breakfast of the Ancient Order of Hibernians at the Claypool. “The game still is in our own hands, and can be won by frugality, humanity, honesty and industry,” McNutt said referring to reports of communism and the weakened condition of the governmental structure. Mayor Reginald Sullivan, Professor Clarence E. Manion of Notre Dame university and Meredith Nicholson, author, also spoke to the 500 persons who attended the breakfast following 7:30 mass at St. John’s Catholic church, where they received communion. “There need be no shadow of communion. The sun of liberty will not give way to the moon of delusion as long as Irish eyes are smiling and Irish hearts are strong,” Manion said. The Rev. M. w. Lyons, pastor of the Lady of Lourdes Catholic church and county chaplin of the Hibernians, served as toast master.

Sacred Heart Will Hold Special Leisure Program

AIR SEARCH IS ON FOR LOST RECORD-SEEKER Young South African Overdue on London-Capetown Flight. By United Press CAPETOWN, South Africa, March 13.—Five airplanes left today to search for Victor Smith young South African aviator overdue on a flight from London to Capetown. Seeking to beat the record set by Mrs. Amy Johnson Mollison, Smith had made good time on his journey south as far as Alexander Bay, 400 miles from this city. He has not been reported since, and it was feared that he had been forced to land in some remote spot.

"There have been three shocks while I have written this much. Os course, they are not very powerful now, although they shake up quite a lot. They serve to bring down what the former shocks have loosened. There's another quake. ■ Our house is all cracked up inside. with the plastering scattered about in places, and in one place a piece fell from behind the hail tree as big as a man's hat. “Tire chimney is down and ceilings are wet because the drinking fountain upstairs fell and broke medicine bottles in the bath room. The entire building seems to have shifted just a little eastward on its foundation. Another quake. Love to all. THERON. ETHEL AND THE CHILDREN. “P. S.—These towns are all under martial law and no one is allowed in the business dictrjcts, and they advise everybody to stay off the highway, as it hinders the removal of debris.” “My brother does not mention what has happened to his office,” Merton Johnston said. “The office building, which houses four doctors, was on the street directly in back of the postoffice, which, according to news dispatches, was demolished. “Having lived in Santa Ana for several years. I can imagine the feelings of those experiencing the earthquake. “During the years that I lived there, we were warned of earthquakes almost every’ year, at this season. The air would become depressing. and warning tremors would be felt. The newspapers would sound a warning, and people living in apartment buildings would camp out for several nights, until the danger seemed passed.”

THE INDIANAPOLIS TIMES

GERMANY FLIES KAISERS FLAG Old Imperial Banner Is Made Official by Hindenburg Edict. By United Press BERLIN, March 13. Germany today lives again under the old prewar imperial, black, white and red flag. The red, black ana gold flag of republican Germat y was banned in a decree issued by President Paul von Hindenburg. Simultaneously, he ordered the swastika symbol of the Nazi made official for display with the imperial flag. The decree of the veteran war chief came on a day when all Germany was mourning the Germans who lost their lives in the World war and at a moment when the Nazi brown shirt forces were, -winning new triumphs in municipal elections. In the Prussian elections Sunday, the Hitlerites and Nationalists obtained a majority, together winning 113 seats in Berlin. They polled a majority also in Frankfort, Altona, Gleizitz, Halle, Koenigsburg and Kiel. Hindenburg’s decree merely confirmed the abolition of the republican flag which the Hitlerites already had made effective. HEART ATTACK FATAL Cleveland Woman Dies in Downtown Theater; Parents on Way Here. Heart disease was given today as cause of death of Mrs. Luella Reynolds of Cleveland and Toronto, Canada, who succumbed in a downtown theater Friday night. Mrs. Reynolds, who husband lives in Cleveland, had been staying at the Washington during a three months’ visit here. Her parents, residing in Toronto, were to arrrive here today to take charge of the body.

Affair to Be Held Tonight in Hall of South Side School. LEISURE HOUR CALENDAR TONIGHT Sacred Heart School hall, 1502 Union street. (Special meeting). TUESDAY Garfield Park community house. Mt. Jackson Club, 817 Collier street. WEDNESDAY Brookside Park . community house. J. T. V. Hill community house. Rhodius Park community house. THURSDAY Crispus Attucks high school. FRIDAY Christian Park community house. Ft. Wayne and Walnut Club. Fletcher Place community house. Michigan and Noble Club. School 9. at 740 Vermont street. Nebraska Cropsty Club. School 22. at 1251 South Illinois street. Oak Hill Club. School 38. at 2030 Winter avenue. w School 5, at 612 West Washington street. School 12. at 733 South West street. School 16. at 1402 West Market street. School 26. at 1301 East Sixteenth street. School 34. at Kelly and Boyd streets. School 67. at 3615 West Walnut street. A special program has been arranged for tonight at the Sacred Heart school hall, 1502 Union street, where an organization meeting is to be held. The meeting is for the promotion of Leisure Hour Club programs in the Catholic schools, and has been arranged by A. J. Voight, chairman. Appearing on the program, under the direction of Sergeant Tim-! othy McMahon, will be Dolly and Esta Buchanan, in songs; Catherine Muench, songs; Betty Marie Starr, singer and dancer; Vera Nicholi,: readings; Thomas Moriarty, accordionist; Joseph Steiner, instrument tal music; Steiners Hawaiians, and Margaret Scott, Betty Unser, Margaret Ellen Wilson, Joe Shea and! Carrol Smith. LARCENY IS CHARGED City Man Held for Theft of Two Horses. Two Wagons. Charged with grand larceny in I an alleged theft two years ago of two horses, two sets of harness and two wagons. William L. Curtice, 26. of 2446 Baltimore avenue, was arrested today. Seven persons, according to the detectives, have identified Curtice as the man who in one day obtained the horses and wagons for hire from Fred House. 426 West Pearl street, and Elmer Thorp. 915 West New York street, and did not return the property. Alumni to Hold Luncheon Altrmni luncheon of Lambda Chi Alpha fraternity will be held at noon Wednesday at the Washington. M. L. Anderson is president. >

AUTO INJURIES 1 PROVE FATAL TO CHILD OF 4, Oaklandon Girl, Hit Last Friday, Dies in City Hospital. Marion county’s automobile death toll since Jan. 1 was raised to twenty-six today with the death in city hospital of Pauline Lanham. j 4, of Oaklandon, who died of in- j juries suffered when she was struck by a car Friday near her home. The child ran into the path of a car driven by Mrs. Bessie Caylor. j 3675 Washington boulevard, in Oaklandon, as she crossed the road to where her mother, Mrs. Oscar Lanham, had gone to post a letter. Deputy sheriffs said they learned Mrs. Lanham had instructed the child to remain at the side of the road. Mrs. Caylor was absolved of blame by the deputies.

Although the roadster in which they were riding skidded and overturned early today at Morris street and Holt road, three girls

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and two youths escaped with minor cuts and bruises. They are Woodrow Pruitt, 22, and William Noble, 21, both of 3618 West Washington street; Miss Mary Kinder, 24. and Margaret Perhens, 21, both of 604 East Market street, and Miss Katherine Hunt, 19, of 735 Elm street. Mr. and Mrs. Benjamin S. Kline, 115 East Nineteenth street, w T ere treated at the Methodist hospital for cuts and bruises received late Saturday when their auto collided with a truck at New Jersey and Vermont streets. Two fractured ribs were incurred by Earl Stone, 58, of 2434 Brookside parkway, when his car crashed into another Sunday afternoon at Park avenue and Thirty-second street. Charge of drunkenness was placed against Wayne Johnson, 32, of 4921 College avenue, after his car struck a lighted safety zone guard early Sunday at Liberty street and Massachusetts avenue. He was not injured. A fractured leg was received by ! Georgia George, 8, of 208 Douglas street, Sunday afternoon when struck by an auto in the 800 block, West New York street. Hugh L. Murrel, 38, of 1115 North Mount street, driver of the car, was not held. The child is in city hospital. DELAY SENTENCING OF STATE SLATER Alleged Wife Murderer to Appeal Jury’s Verdict. By United Press BROWNSTOWN, Ind.. March 13. Sentencing of Harley Edwards. 38, to the electric chair on charges of murdering his wife was delayed today pending appeal from the conviction. A jury found Edwards guilty and recommended the death penalty. A son, Lloyd, 9, was one of the chief state witnesses. He testified that he had seen his father fire the shot. Edwards and his wife were estranged when the shooting took placs July 23, 1932.

Gentle Irony Einstein and Expert on Quakes Walk Through One Unaware. By Science Service PASADENA, Cal., March 13. Professor Albert Einstein walked through the earthquake and did not notice it. He just had emerged from a California Institute of Technology building after attending his last seminar with local scientists before leaving Saturday for New York. Walking with Dr. Beno Gutenberg, the eminent authority on earthquakes, both he and Dr. Gutenberg were so absorbed that they said later they had not' noticed the earthquake. This was ironical because Dr. Gutenberg never before had experienced an earthquake. Buildings of the California Institute of Technolop at Pasadena creaked and swayed greatly in the earthquake, but no damage w r as done to these structures, especially designed to withstand earthquakes. A brooder stove and an incubator were sold from the same want ad. Mrs. R. M. Smith placed the ad, it ran four days at a cost of 90 cents.

BISHOP TO SPEAK

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Bishop Campbell Gray

Bishop Campbell Gray, D. D, of the Episcopal diocese of northern Indiana, will begin a series of addresses at the noon-day Lenten services at Christ church, Tuesday. The sendees will begin each day at 12:05, Cheston L. Heath, organist and choir master of Christ church will give a fifteen-minute organ recital preceding each service.

Let’s Explore Your Mind BY DR. ALBERT EDWARD WIGGAM. D. Sc.

mite imoiw .bu . __ WHISTLER S mother /'MV NAME W!LL - s \\ 3 JgijgH BE. on T UAT : \\ n66 ADVANTAGEOO6 -vLc LLc L, ,’ \\ TO ■TCACH CHILDREN TB U 6€ DOOR some OAV ; \\ A typewriter, instead / \\ OP A PEN? ! | WEESiOeNT j \ \ POE 6 AMBITION MAKE A PERSON HAPPY? l WIiTI sii el db user |

1. She is far greater than many of them. As Dr. Leta Hollingworth points out, successful motherhood is a field in which human greatness is sheer necessity, but in which “fame is not possible.” In the beginning she risks her life. Later she gives the glory of her being, the love, faith, and inspiration of her soul, the last quivering ounce of her energy to making her children into something fine, wise and beautiful. And when she dies, a little stone in the graveyard is often all that tells the world that here was a great soul. 2 Yes. With all its disappo i tments, ambition brings that keen happiness that comes from the sense of achieving. Benjamin Disraeli once said to John Bright in the house of commins:

Students Hard at Work in Model Home Contest

Muncie Pupils Send Word That They Hope to Annex Prizes. Reports from Indianapolis and out-of-town schools which have entered this year’s Model Home Contest, sponsored by The Indianapolis Times, indicate that students are hard at work, constructing their models. Dorothy Scheller, 2729 Napoleon street, a student of Sacred Heart school, reports satisfactory progress. She is the only girl student entered in this year’s contest so far. Clyde Wellinger, instructor of Central senior high school, Muncie, states, ‘four students have been working hard at their models and we think that the Indianapolis schools will receive the hardest competition they have had in years.” QUAKE VICTIM TO BE BURIED IN INDIANA Sister on Way Home With Body of Ex-Hoosier. By United Press STAR CITY, Ind., March 13. Funeral services for Ab Stephens, Long Beach, Cal., city fireman, killed in the earthquake there, will be held at his former home here. A sister, Mrs. Della Strong, who had been visiting with Stephens, is accompanying the body back to Indiana, relatives announced. Stephens was one of five men killed in collapse of a city fire station. A military funeral will be conducted by the American Legion. ATTACK GARNISHEE LAW Rule Indiana Statute Invalid for Sixth Time in Few Weeks. For the sixth time in the last few weeks, Indiana's garnishee law was declared unconstitutional today when Circuit Judge Earl R. Cox in favor of a worker against whose wages a claim of $l2O was sought. The ruling was in a suit of August Emick of Indianapolis, against Cecil Martin, chain grocery company employe. The law previously has beeen held unconstitutional by judges in two municipal and three superior courts, j Fire Damage in Thousands By United Press LOGANSPORT, Ind., March 13. Damage estimated at several thousand dollars was caused by fire! which swept through second floor | offices in the Winfield block down- 1 town Sunday afternoon. A six-room house renting for $22.50 belonging to Ray Miller was rented from a three-day rental ad in The Times.

Ten Millions Seek a Cure/°o o A l t hl t e h te 'e dread infection, which starts with red- ! ness, moisture, and itching blisters. j between the toes. All have tried in ; vain, highly advertised cures. Par-Ex ! is the recently discovered treatment. I which gives the desired results. It kills j the disease germ in two minutes. Doctors indorse it and it is positively guaranteed. At all. ' HAAG DRUG STORES

DISPOSAL 1 SALE Now in Progress . H. LIEBER CO. ; 24 \V. Washington St.

ANNOUNCING SCHIFFS BIG NEW OUTLETSHOESTORE 109-111 S. Illinois St. (Former Shoe Market) Other SCHIFF Store* No. 1—203 W. Washington No. 2 —259 E. Washington

“It’s ambition, Bright, with aU its disappointments, that brings us here.” Ambtion never brings contentment, but it does bring that noble discontent that leads to high endeavor. This, after all, is the highest happiness, the restless, ambitious soul ever will know. 3. Yes. An experiment has been carried on in the schools of twelve cities for more than two years, under the general direction of Dr. Ben D. Wood of Columbia university, to study whether, if children learn to express themselves by the easy method of typing instead of the hard, slow method of the pen, they may not learn faster and express themselves better. The results have been very gratifying. Typewriting markedly has improved their reading, language work, and, surprising to say, their number work.

Wilbur Metz, 359 Ritter street, winner of the week’s vacation trip to Washington, D. C., with all expenses paid, says: I already have started work on my model and have had fair progress. Naturally, I am as anxious to win again this year, because I think that the trip which The Times gave me last year was the greatest event of my life.” Anew feature of the contest, which is a part of the Home Complete Exposition, to be held at the state fairground April 22 to 29, is the silver trophy which will be awarded to the school whose students receive the greatest number of honorable mentions. Deadline for all entries of models is April 21. Ray Monohan, chairman of the Model Home contest committee, today urged all students who have not entered to forward their entries.

BECAUSE OF THE BANK HOLIDAYS WE (ARE FORCED TO CONTINUE Our Going Out of Business Sale 10 More Days STORE CLOSED ALL DAY M'ONDAY AND TUESDAY To Rearrange and Re-mark All Merchandise on Hand! STORE OPENS WEDNESDAY MORNING AT 9 A. M. SHARP! § ,; j ■ ~ ■ -* . f '■ SELF-SERV DEPARTMENT STORE 36 North Pennsylvania Opposite Palace Theatre

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RESERVE ‘KEY’ BANKS OPEN FOR BUSINESS Roosevelt Pledges Nation Against New Epidemic of Failures. (Continued From Page One) the same status as the bank that opens tomorrow.” ”1 do not promise you that every bank will be reopened, or that individual losses will not be suffered,” the President continued. “But there will be no losses that possibly could be avoided: and there would have been more and greater losses had we ! continued to drift, j "I even can promise you salvaj tion for some at least of the sorely pressed banks. We shall be engaged not merely in reopening sound banks, but in creation of sound , banks through reorganization.” Public Is Thankful Mr. Roosevelt thanked the people for the courage they displayed during the financial crisis, but warned j they “must not be stampeded by | rumors or guesses.” "Let us unite in banishing fear,” he pleaded. "We have provided the machinery to restore our financial | system; it is up to you to support and make it work.” Explaining the situation which l made it necessary for him to dei clare the banking holiday, Mr. j Roosevelt said. "We had a bad banking situai tion. Some of our bankers had ! shown themselves either ineom- ' petent or dishonest in their handling of the people’s fund. They had used the money intrusted to them in speculations and unwise loans. "This was. of course, not true in the vast majority of our banks, but it was true in enough of them to shock the people for a time into a sensfe of insecurity and to put them into a frame of mind where they did not difl/'rentiate. “It was the government’s job to straighten out this situation and do it as quickly as passible—and the job is being performed.” Cites Need for Moratorium The President explained that banks ordinarily loan out a large proportion of deposits to keep business going, and that hence even the soundest banks could not getenough currency to meet the public rush for cash in the closing days of February and first days of March. This made it necessary for him to declare the banking moratorium while congress passed the emergency law's making further currency available. “The new law,” he pointed out, “allows the twelve federal reserve banks to issue additional currency on good assets and thus banks which reopen will be able to meet every legitimate call. “The new currency is being sent out by the bureau of engraving and printing in large volume to every part of the country. It is sound currency, because it is backed by actual, good assets. - ’ Clarence Rollers, 1932 Ashland avenue received more than thirty calls from his three-day house for rent ad in The Times.