Indianapolis Times, Volume 45, Number 151, Indianapolis, Marion County, 3 November 1933 — Page 19
NOV. 3, 1933
SOVIET CLAIMS AGAINST ALLIES EXCEED DEBTS Pact Problem to Present Difficult Problem for Experts. Thu Hovf*t - ta!k at th* Whit# Hoaif will b* followed clo*Ht br th* nation and th* world. Thi* i* tho third of a of artlrlra on the problem* underlying the hiatortr RooaeaeltLitvfnofT meeting BY WILLIAM PHILIP SIMMS Srrtppa-Howard Foreign F.ditor WASHINGTON, Nov. 3 —One of the strangest claims hearings in the history of international dealings will follow the White Hones talks between President Roosevelt and Russian Foreign Commissar Litvinoff—if the two can agree on fundamentals. For while the United States and the war-time allies have advanced claims against Russia aggregating 513.000.000.000, Russia has set up counter claims against the Allies and the United States, on account of intervention, for a sum far in excess of that figure. Up to the present, America’s claims against the Soviet Union amount to a litte more than SBOO.000.000 a mere fraction of the total. Thus, while this easily could be met by the Moscow government, the American claim has no priority over that of the allies, and any settlement this country might make with Russia would be the signal for similar terms for them. Loans Are Included Russia, therefore, will deal warily with the United States if and when her experts and those speaking for America finally meet. Os the total American claim, $193,000,000 is on account of advances to the provisional government which succeeded that of Emperor Nicholas II in 1917. A second item represents a $75,000,000 loan privately made in this country to the czarist regime just before its overthrow. The third item of $4.30,000.000 is for miscellaneous losses alleged to have been suffered by Americans on account of confiscations following the Bolshevist revolution. The balance is for interest. So far as the first two items are concerned, it will be a simple matter to agree on the exact amount Russia obtained from the United States—whether or not it ever is repaid. It is all set down in black and white, or maybe red. in the ledgers of the i United States treasury.
Claims Are Padded But the claims and damages arising from alleged confiscation is a horse of another color. It is a matter of record that the Bolsheviki, by a series of decrees during 1917-1918, nationalized all private property, both of its own citizens and foreigners, but the estimates of the value of such properties are as far apart as the poles. It is the custom, in filing international claims, to do an -immense amount of padding. All parties— Americans, the allies and the Russians—now are suspected of having followed tradition, the Russians even more than the others. For their claims—originally advanced by Foreign Commissar Litvinoff’s predecessor, Chicherin. at Genoa—soared as high as $60,000,000.000. though they later were to drop as low as $400,000,000 plus a good, big loan. Damages Are Small The American claim for $430,000,000 due to confiscation of banks, cash, industrial and commercial concerns, buildings, insurance companies and so on, yet may be increased further, once the claimants think they see some chance of recovering. That does not mean, however, that they will get the amount of their claims. Far from it. It is estimated that the average amounts recovered in such cases seldom exceed 3 per cent of the sums demanded. The Mexican claims commission of 1868. state department records reveal, had before it 1,017 American claims aggregating $470,126,000, and Mexican claims against the United States totaling $86,661,000. Yet the Americans recovered only $4,125,600. and of this insignificant sum, the United States subsequently voluntarily returned $1,170,851 to Mexico because it discovered that two of the largest claims were fraudulent. British Filed Claims The Mexicans were awarded $150.498. or less than one-fifth of one per cent of the amount asked. A somewhat similar case grew out of the Civil war. British subjects filed claims against the United States aggregating $96,000,000. but were awarded only $1,936,819, or 2 per eent. The archives of the state department contain many records of such cases as these —of colossal sums demanded and ridiculously small sums awarded. Nevertheless, almost invariably it required years of diplomatic parleys to reach a settlement. This explains why President Roosevelt hardly will go beyond discussing principles in his talks with Foreign Minister Litvinoff. but will leave the vast array of details for experts to handle later on. Next: Russia's Claims Against America. SHORTERJIAME SOUGHT “Colleges of City of Detroit" May Be Eliminated. Bj/ Unitrti Prt *s DETROIT. Nov. 3—Plans to change the lengthy title. "Colleges of the City of Detroit." to a shorter one containing the word "university,” are under consideration of the student, council. Detroit municipal university. Mackenzie university, Cadillac university. Detroit civic university. University of Southern Michigan and Detroit public university were suggested. bridge leader named s. G. Kas berg Is Appointed Auction Chairman. S. O. Kasberg has been appointed chairman of the mixed auction bridge section of the Hoosier Athletic Club by Walter Lauritzen, president. The section, which will play on the first and third Thursday each month, will begin Nov. 16 at 8 p. m. in tha Chinese room of the Clubhouse,
‘Master-Mind’ Revealed W. W. Riefler Is Mysterious ‘lnterpreting Economist’ of Roosevelt’s Super-Cabinet. (CoovrUtht. 1933. bv United PresfO WASHINGTON, Nov. 3 —The identity of President Roosevelt's “interpreting economist." who has come to be something of a legendary character at the White House, was revealed today. Simultaneously it was disclosed that in his present gold policy, the President is not heeding the advice of this particular expert.
The “interpreting economist” is W. W. Riefler, tall and stocky, With thinning reddish hair. He has specialized in money and banking since his graduation from Amherst in 1920. Since then, and until his transfer during the summer to the chairmanship of the central statistical board, he has been with the division of research and statistics of the federal reserve board. a a a RIEFLER belongs to the “sound . money” group among the economic advisers with whom Mr. Roosevelt has surrounded himself. The program for raising domestic commodity prices through gold purchases came from the group which veers toward inflationary policies. Riefler s importance as an administrative economist was emphasized when, by executive order, he was made economist for the executive council, the so-called “super-cabinet” which brings together heads of the various units in the Roosevelt recovery program. President Roosevelt has referred frequently to his “interpreting economist.” The reference came to be regarded somewhat similarly to the "White House spokesman” of the Coolidge days. Some even wondered if there actually was such a person, or w'hether ic was a convenient term for any bit of economic research done at White House bidding. an a THE man identified principally with the new gold policy is Dr. George Warren, professor of farm economics at Cornell. He has been in Washington during the summer and has built an atmosphere of mystery about his movements. Oliver M. W. Sprague, who came from a post as adviser to the Bank of England to advise Mr. Roosevelt upon monetary policies, is firmly opposed to the Warren dollar devaluation theories. The upshot of the matter Is a distinct cleavage among the ranks of presidential economists, with vigorous memoranda on the subject of inflation and dollar devaluation passing daily from desk to desk.
IMPROVEMENT NOTED IN DIAMOND BUSINESS Good Gems Reported Scarce and Prices Rising. Rp Vnitrd Prrsn NEW YORK, Nov. 3.—A business upturn is believed indicated by the government in the diamond market. Asa result of the depression the low point in diamond prices was reached early in 1933, but now desirable gems are scarce and prices are higher. With the abandonment of the gold standard, diamond prices began to soar. The Diamond Corporation in London, which controls 90 per cent of the diamond output, meanwhile steadfastly maintained its scale of prices and strengthened its position. So. while securities of every kind declined in recent years, diamond prices have been affected but little. The forecast that diamonds would accumulate as a result of the depression and prices would fall sharply have proved to be false, experts declare.
OHIO POLICE GIVEN TRIO ARRESTED HERE Two Men and Woman Are Handed Eastern Officers. Officials of Wapakoneta, 0., yesterday obtained custody of two men and a woman arrested here when local police seized new wearing apparel in a raid at a house in the 800 block North Keystone avenue. The articles were identified as stolen in Wapakoneta. The prisoners are Herman Chandjie, 37. and Charles Link, both of 833 North Keystone avenue, and Edna Mills, 25, Anderson. Purse Snatcher Gets $34 A purse containing $34 was snatched from the hand of Mrs. Minona Hanger. 105 South Webster avenue, by a jtoung man as she walked in the 5800 block Julian avenue last night.
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CONFIDENCE!
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The smile that only perfect faith in victory can summon lights up the face of Mrs. Franklin D. Roosevelt in this striking picture, taken at the opening of the 1933 mobilization for Human Needs campaign in Chicago.
Peace, or — ■x Neighborly War Story Arouses Court.
“I"LL make peace in that neighJL borhood if I have to call out the national guard,” said Judge Dewey E. Myers in municipal court yesterday. The judge just had listened to a long tale of quarreling among neighbors and their children; a tale which had some bearing on the arrests Sunday of Howard Cornelius, 2314 Woodlawn avenue; his brother, John, 2304 Woodlawn avenue, and Franklin Shelton, who lives in the same house with Howard Cornelius. The men, charged with drunkenness and resisting an officer, were charged by Mrs. Helen Hoggle, 2310 Woodlawn avenue, with treating her roughly when she protested against alleged mischievous acts by the Cornelius children. The accused men denied the charges. Judge Myers assigned an investigator to the case for a report to him for decision Nov. 24, and warning the neighbors to keep the peace meanwhile. 3,095 MORE STORE LICENSES ARE SOLD 52,162 Permits Issued in Stale Jackson Says. Sale of 3,095 more store licenses in Indiana the first ten months this year than were sold in all of last year was reported today by Clarence A. Jackson, gross income tax and store license director. Mr. Jackson said 52,162 licenses had been, issued by Oct. 30. including hundreds for new stores, indicating. he commented, an improvement in business conditions in the state.
THE TNDIAmPOTTS TIMES
CIVIC CLUB TO HEAD TALK BT OTTO DELOSE City Hospital Officials tyso Are on Program at Druids’ Hall. The South Meridian Street Civic Club will hear an address by Otto P. Deluse. public works administrator for Indiana, at 8 tonight in Druids’ hall, 1317 South Meridian street. The program for the meeting also includes nomination of officers to be voted on Dec. 1. and showing of photographs by Dr. Charles W. Myers, city hospital superintendent, and business Manager Earl C. Wolf of work being done at the hospital. Hissing is not permitted in parliament. The rule forbidding it — "Whoever hisses shall answer for it at the bar as a breach of order and contempt."—dates back to 1604.
PEN NEY*S ■jjMIBIPFJ| % Values Galore for Saturday—the Third Day of Our Sensational Opening Specials—we held hack loads of merchandise Anticipating the Needs of Saturday Shoppers Who Could Not Get Here Earlier to yjjjiM Share in These Tremendous Bargains! Our Entire Bargain Basement Is Chock Full of Values That We Could Not Possibly Replace to Sell at These Low Prices. Be Here Tomorrow Shop in Penney’s Economy Basement Store and SAVE! Here’s Value in an W .jiumi’-Miiaacm ’W Amazil 'g Selection of Men’s OVERALLS Smartly Tailored KgsJD S'ZXtl ■MCOAIS JrS. 6? ■BMpi i|| T weeds Crepes cut; WPl * mac,p - I lliilll pppl Opening jSS *9B Men’s Work Pants, 98c Special JfißgSS&k Cottonades—extra wear without extra price. Strong, fljßß V&W*'- m Men’s Work Shirts, 39c Fitted and swagger models fashioned of Os blue chambray. two pockets, triple stitched, fine quality fabrics. Jaunty tailored styles Full cut, roomy, yoke back. jfflHSliilw with stitched collars, novel sleeve details, nwr %**• 77/1 belted. coats so attractive you’ll Wool Zipper jackets, 2.98 I ( 11 be amazed to find them at this low price. Navy blue Cossack style jacket with adjustable waist- [ I /I * New winter colors. Sizes for women and band, opening special. U 9 J Men’s Union Suits, 79c Hi ufS M 4 AM Vmaaltc ja Long sleeve or short sleeve, ankle length. Generously CLEVER HATS 77c wew w,mer cut; full sizes. A wide selection of fabrics and styles. Woolens, knits, silks, rayons in styles smart for Basement Favorite shades, an outstanding value. street, sports or any daytime occasion. Sizes for Basement women and misses. wHHHHHHHmHHHHHHHHHHHMHIHmHHKi: Another thousand 81x99 Inch Pepperell BLANKETS SHEETS “Clo-Fay” Window Shades 10c . ..-**''* 42-Inch PEPPERELL > r | Fibre shades. With roller 20c J '^V V Pillowcases to Match ; ii ' mini hi 1111111 mi ■mi i —in ■iiMiißHWMMßMMnrwinwnßMßnnnnnir^ / BffBW A Fine Selection of China and Pottery Women’s m a_ A,,Cam<l - novelties Blue Kid Men s Oxford^ <8 7) Assorted Designs mmm m All solid leathygm and Characters TJJK Si tmmes PI’S. Sturdily Qft ™ built and com- H #7W MgK&W c 4.4.1 sortable. LJm Da Smart styles. _ Basement Outstanding val- V A€% ■ - ues, at this low !!£!- priee ‘ „ Men’s and Boys’ '|fgFyilL WORK SHOES V S ■ Opening Special Price — Basement f A sturdy built shoe that will WOYTVCII S give real wear. One-Strap Comfort Shoes Children’s STURDY Made of soft kid- .. SCHOOL OXFORDS skin with a dur- V A€% . . , able leather sole. oxfords thst All sizes. 1 \ will wear. An D( Basement I? lili val- f W.3BE/ u.„. gggue for opening. Basement
BYRD FLAGSHIP STEAMS FROM HARBOR ON ANTARCTIC TRIP
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With representatives of twelve branches of science aboard, the Jacob Ruppert. flagship of Admiral Richard E. Byrd's polar expedition, is pictured steaming from Newport News, Va., for her long voyage to the bottom of the earth.
Railroad Agent Moves M. E. Malone, general passenger agent for the Canadian Pacific Rail-
way, well known in Indianapolis, has been transferred from the railroad’s Cincinnati office to Detroit.
He.is succeeded by K A. Cook, former general passenger agent at Atlanta, Ga.
PAGE 19
STATE TO GET $940,473 U. S. RELIEF FUNDS Government Granting $1 for Every $3 Spent by * Local Units. Indiana will receive $940,473 in relief funds, according to word received yesterday by William H. Book, state unemployment relief commission director. For every $3 spent by local units for relief purposes.- the goverment, grants sl.
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