St. Louis Post-Dispatch
December 17, 1929

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_ * to aie ie, t€ MARRIED A-MAMMA HEN ‘ALU THE. LITTLE” GREW UP AND MARRIED SHILOREN SO FASTA THAT; 6U2ZZING AROUND IN © TIL;'M GETTING O12ZY, NO MATTER WHERE I GO I CAN'T Ger AWAY - FROM. THEM ‘CAUSE THEY'RE ‘INSIDE OF ME. MEEEONE exno + ithe gt FIRE ie, pO PIE. BETO. Be SRO Msn ea. fee bw yin. pag F “ o% Bite ea Vk ee” Par al oe rt a 9G r - _ > ace eS BasTANTIAL Becovenies ARK SLOW TOCK TRADE} ‘ y, However, Is Cen- tered in Pivotal Indus- trials and Some of the Utilities. RMER TONE TO lk CALL MONEY MARKET uch of Previous Day’s Loss Recovered — Trans- actions Are Largely Pro- fessional. y the Associated Press. NEW YORK, Dec. 17.—The ock market proceeded in a leig- ely manner today to retract most of the ground lost yesterday. Trad- ing was almost entirely professional und the market extremely dull. Traders appeared to be waiting for more accurate indications of the 1930 business trertd, and com- jetion of the year-end selling to stablish losses forAncome tax urposes, before pursuing market wnstructive operations further, pst of the day’s upturn wags con- Wibuted fo short covering, The day’s news, while meager, was largely favorable. The modér- ate decline in exports during “No- vember was in shorp contrast to the course of foreign trade after past stock market panics, when exports have risen sharply, reflect- ing the dumping of surplus stocks of goods abroad. Credit Conditions Pirmer. Call money was firmer than for tvera] days past, but held offi- ally at 4% per cent..News bear- ng on the credit sitwation, how- ver, was largély favorable. The lecline of $71,000,000 in security loans by weekly reporting member banks, as reported by the Federal Reserve, was’ particularly pleasing, it occurrea im & week when rokers’ loans inereased . §33,000,- y0, and indicates that banks at ‘ei made progress in liquidating > fecurity loans. During recent weeks, when brokers’ loans de- tlined abruptly, bank loans on se- turitles were practically un- changed. Commercial Borrowing Down. During the last two weeks of October the banks had increased mch loans by more than $1,250,- 00,000 in the process of takifig up dans against securities which. pre- me usly had been supported by non- yank funds. The next several weeks saw the Nquidation of such emergency loans, but with no ap- Preciable change in the total from the Oct. 16 level, The rafly was concentrated in the pivotal industrials and some of the utilities, net gains runfiing from 1 to 7 points. Motors, rails and oils wer esteady to firm, but failed to make notable headway. Closing prices were mostly near the best levels of the day, although U. 8. Steel slipped from a peak of 173 in the final dealings to 171%, Where it was up 4% net, and Gen- *ral Electric, after touching 387, "8%. closed at 234. Johns Man- ville closed 5% points higher. some of the Gains. Westinghouse Electric, American aid Foreign Power, Standard Gas, Eastman Kodak, Republic Steel, Wiumbian Carbon, American Tele- yon , United Aircraft, and Ameri- fan Can closed up about $3 to 4 points. Soft spots were few, although @ uous drop was @@ points in People's Gas. is closely held, and-~com- ely inactive, ang the market in tt | iS extremely thin. Argentine Peso Drops. Foreign exchanges eased, Ster- B*E cables getting’ down to at which point further rts to: Lendon would be unprofitable. ‘The Ca- llar, however, was #rm cents. South American exchanges | of eet Sharply as @ consequence | days mmouncement about mid- mene vt the Argentine Goyern- pent closed its conversion of- ~" “OF the express purpose Of pre-. further withdrawals of export. The Argentine ‘TOpped quickly for a logs COnsni. probably Rad| an at $a: This stock, never- Declares It Wil: Stay bakit Mais Criti- cism—Seulptor Asserts His Work Is. Assailed Because i in. New. Style. * RAIN AND COLDER |« TONIGHT; RAIN OR® SNOW TOMORROW THE TEMPERATURES. — 47 8 a. M. ....- SP ERSP EB in northwest por- tion; rain chang- ing to+snow in ortions; erent moderate wave in north portion; tomor- row mostly fair, * much colder. Illinois: Mostly cloudy ‘tonight ‘and tomorrow, probably rain, changing to show; much _ colder; cold wave tomorrow or: tomorrow much tonight, coid tions; temperature 10 degrees above or lower. A. SHAD BENNETT ARRESTED FOR MURDER PLOT IN ILLINOIS St. Louis Attorney Seized in East St. Louis Charged With OCon- spiracy to Kill Olen King. R, Shad Bennett, St.. Louis attor- ney, was arrested today on the sidewalk in front of the East St. Louis Federal Building, by St. Clair County Deputy Sheriffs, on a bench warrant from Jackson County, is- sued following an indictment last summer at Murphysboro charging him with conspiracy to murder Olen King, bankrupt West Frank- fort meat market proprietor, On whose life Bennett carried ‘instir- ance as part security for a loan of $20,000. Bennett was-taken to the St. Clair County jail at Belleville. He protested nst the arrest, claim- ing immunity through his appear- ance in the Federal Court ag an at- torney. Bennett was first arrested under the indictment in 8t. Louis last July and gave bond. He resisted extradition. Gov. Emmerson held that as it was not shown he was in Illinois at the time of the alleged conspiracy against King’s life he could not be classed as a fugitive from that State, and refused to is- sue an application for extradition. CONGRESSWOMAN IS. CHAFFED WASHINGTON, Dec 17.—Rep- resentative Ruth Hanna . McCor- mick (Rep.), Ifiinois, underwent a good-natured hazing today at the first meeting. of the House Naval Committee she has attended. Chairman Britten, also of [Iili- nois, first told the new woman member that he did not believe in “handles to names,” and that “from now and on, you will be known a8 ‘McCormick’ rather than ‘Mrs. McCormick.’” “This will make you. one of us,” he said, laughingly, as he appointed her to subcommittées on yards'and docks and the Naval Academy. appointment,” Britten ‘said, “is made with the proviso that you do not appoint any girls to the acad- emy.” Mrs. McCormick replied: “You certainly are having a lot of fun. with me, aren’t you?” ar attention to opportunities they are overlook: ing is often done with enthu- oie bia seae east and . south: night in north and central por-|- "The last ‘ The $15, 000 Gen, Nathaniel Lei statue on Camp Jackson Memorial Plaza, Grand and Pine boulevards, is going to stay there regardless of criticism, so far as Mayor Miller is concerned, © “The G. A. R.,and affiliated or- ganizations raised the money . for that monument, paid for it, and obtained the permission of the Board of Aldermen to put it . up there,” the Mayor said today, “and, 30 far as I’m concerned, it’s going to stay up. If people don’t like it, they don't have to look at it.” The monument has been de- ascribed as “a public®disgrace” by ‘Prof; Edmund H. Wuerpel, direc- tor of the School of Fine Arts at Washington University, and the school’s professor of sculpture, Vic- tor S, Holm, whose works are known. internationally. Both en- deavored to make clear their re- luctance to criticise the work of any artist in public unless they céen- sidered the criticism would accom- plish a public good. The public wood in this case, they argued, would be removal'of the monument from public view. Plans are going forward for un- veiling the monement next: Sun- day at 2:30 p. m. It is to be dedi- cated on Camp Jackson day, May 10 next. | ‘“‘New Ideas,” Says Sculptor. “A new idea,” was the defense of the 3$i-year-old. sculptor, Er- hardt Siebert of 2232 ’South Grand boulevard. “A far step toward ad- vancement of this sort of thing.” \ “Nonsense,” replied Wuerpel and Holm. “Absolute incompetence!” The Mayor said he did not know there was such a body as the Mu- ‘historic Wimar paintings in ‘the old court- house were retouched by a, sign painter in 1921. Critics of the Camp. Jackson _ monument had hoped at least to revive the com- mission to prevent the downtown Memorial Plaza from becoming “2 cemetery of bad sculpture.” Terms of, two members of the commission expired on the day. be- fore Mayor Miller took office, April 21, 1926. Terme; of the: sev- en others, according to the records; Tan out in 1927, No new members were appointed. This was the obvious reason why the design for the monument was not submitted to the commission, as required by an ordinance which, inquiry disclosed today, still exists. Text of Ordinance. Section 27 of the revised code says, “No such public statue or monument shall be erected or in- stalled in any public place, or re- moved, relocated or altered in any way until the plans have been sub- mitted to the commission and the recommendations of the commis- sion, or a majority of the commis- sion, have been made to the proper authority.”’ “The memorial committee agreed with me that all the major statu- {ary of the city was of the so-called old style,” said Siebert, elaborating on yesterday's defense. “Not for Many years had there been any radical departure from the» old, heavy, massive style of workman- ship. “My idea was along entirely new lines, &4nd when I submitted it to the Camp Jackson, Union Soldiers’ Memorial Association, they voted that I should follow it out. I will whatever, nor did I follow the idéas or teachings of old-style craftsman- ship. ' . “No doubt it is true that” this work of mine will not appeal to any of the old-style critics, nor to @ great majority of thd people who view it. I myself, however, con- sider it is a far step toward the advancement of this sort of thing.” Incompetence, Says Holm. ‘"The trouble is not that it is in @ new style, an attempt to do some- thing in a way different from that in which anyone else would or could do it," Prof. Holm countered. “The trouble is nothing but abso- lute incompetence. The monument is ad cé-to the city and ought to be removed. “Fortunately, I had nothing to do with the memorial project, and hence can speak merely as.a. citi- sen who is also an artist and a for- mer president of the Mvynicipal Art Commission. I didn’t know anything about the statue until a setudent—they are all laughing at it—asked me if i had seen ‘the nicipal: Art Commission, which has}; net functioned since: the | admit that I followed no precept | oi bane ga ae “ig : sey pt $014 Rad - wre Sas ae Operatives Should Pay Same. Rate as Private In- WASHINGTON, Dec. 11.--That there is sharp conflict between the Federal Farm Board and the grain commission men, with the United States Chamber of Commerce sup- perting the iatter, was . made abundantly clear loday through the testimony of Julius H. Barnes, chairman of the Chamber’s Board of Directors, “before the Senate Lobby Investigating Committee. | ‘Barfies, an intimate friend of President Hoover, pictured him- self in the role of a mediator be- tween the board and the middle- (man, but it was evident that he had not been wholly successful. He. described Chairman Legge of the Farm Soard as an “able business man who tries to be fair.” Nevertheless, it became clear ds the examination proceeded, that a recent conference, which Barnes brought about, between a group of commission men and Legge, ended on a note of vital, disagreement, - a pa pie Sanh. Seeuvant to teed exe fo® the co«operatives at lon try stations. He said that Legge also profmised to give an Open hear ing to the commission men before thaugurating any major ~ policy of the board affecting their business. It appeared, however, that Legge. was not budged from his position, based. on the farm relief act, that’ the national co-operatives should continue to have. money at less than the commercial rate of inter- est—6 per cent. Barnes came out flatly against an “uneconomic advantage’ to farmers’ -co-operative societies,” This, as members of the commit- tee pointed out to him, is precisely, what the administration farm re~ lief bill seeks to do, Senator B sin, of the committee charged the bied”’ before the Farm Board in an effort to get it to change its poll- cies. Barnes objected to the char- acterization. ad Engaged Only in “Hedging.” In béginning --his testimony, Barnes identified himself as a grain terests in the Northwest and meme, berBhip on the Chicago Board o Trade and other exchanges. He declared, however; that his compa- nies engaged only in “hedging” on their own transactions and did not accept outside orders... He had no financial interest whatever, he said, in either the grain comm business or the country elevator businese—the two lines ‘of activity, affected by the Farm Board's poll- es. : 7 ‘ At the time of the President's of the month, brought half a dozen leading com- mission meh inte touch with Chair- man Legge Of the Farm Board. Legge volunteered, he added, that’ Government co-operative buyers at country. sta- tions to compete with private‘ in-_ terests should be lent at the coOm- mercial interest rate—six per cent. Says Grain Men Were Uneasy. ‘ * ington conference was. oduse of the uneasiness of the men. They asked Legge’: there was a deep-seated on the part of the Farm Board, “tul purpose would be Bram oe business conferences here, the first} Barnes said he} money furnished to | witness directly with having “leb- | exporter of Duluth, with large in- ; a Barnes explained that the eer) , antago-/ nism against the commission men| t Legges assured them, | eds ast sip: fneility, that Cee Ser pny Ylstrlet, ‘tioetly'to-clerks and book- P| Risin Se mrctertgeeteoey, bee years, was reported to be likely to follow the same ‘policy this year. - Goldman Sachs & Co., a year’s sal- ary; the Chatham Phenix Nationdl Bank and Trust Co.,'6 per cent; | the Bank of the United. States, up to 10 per cent; the Chemical Bank and Trust’ Co.,12% per cent; the International- Madison Bank and Trust. Co., 6 per cent; fe J. &. Bache & Co., up to 60 per cent of @& year’s pay; Barton & Barton, 25 per cent; Clarence H up to one month's salary; the E. I. du:Pont de Nemours Co., 160,009 shares of stock with a market value of hop ere! ‘The arresting officers| said: Mecrig was’ not one of the sus that if Eastman were not ‘renomt!-. investi- | nated they would carefully gate ‘anyone nanied to take ‘bis place. Bastman, by his Hberal dissents | Pects from the majority of the commis-f Jsion, has come to be known as “the Justice Brandeis of thet. CG Cc.” He filed a separate opinion in the &t. Louis & O'Fallon vatua> tion case,’ stating that while he Blaine (Rep.), Wiscon- \m. ‘WASHINGTON other phase of the controversy over , enforcement.in Wash- Saar Shas amy the “Mr. Legge said,” added ‘that before inaugurating any ma- jor policy, he would e a) earl [sib mer ae | Among bohuses announced are: & Cu,, f Is Not, Agents Declaré, One FO pects Sought. By the Associatéd Press. NEW YORK, Dec. 17.—Two' sistant United States Attorneys tod a raid on the: offices of Graham Taylor & Co., dealers in investment securities yesterday and ‘arrested one man. Lowell Wadmond, Aasis- tant United States Attorney, sald informatian furnished by Postoffice inspectors indicated. “more than -$1,000,000 had been taken from Wadmona pinching hak the ¢omplaint which ted to the raid came from St. Louls, where an unidentified ‘person had been advised by a tele- phone tipster that Standard Oil of New Jersey was a good stock to boy. A day or two later Wad- mond said, Graham Taylor & Co. telephoned to the complainant they had a surplus of New Jersey ge 8 ard Oli and were willing to sell BB dyevth ne Hons PK price. ‘nabel Matthews of Gainesville, Ga, PS aE a pe +4 tii 4 ab IN RAID ON ree He Gives $2000 Bond ‘But| eee — ee ee - ye ae “Sea | Fought: sisadiloide' Aft Passing Cape Vets | Plane Wredd. : i (Copyright, i me | ’ / SANTO cor Dec. | 17.—Physiecally: exhausted after a night alorie in ‘the Brazilian wil- “| dermena téllowing a flight ‘over the South Atlanti¢ in an attempted ‘| nonstop ‘flight from + Seyille to 7 a 1 WB, the nig 5 hy Oy iiteget BC vicki ha Dlg - - a a ee fe he fg ; > ore | = gs Sa eis 6 . Dh nb GAGE PATROL REG ROL ENS. oly ‘ soap kr en ee ‘ 7 nS e P - Ree eee ten, fe ma nan! a aes {pr aa Bs Ge oe Woes *t are bis ee" i “-— aol meres ust or the Un ee | Loe at our brow ing on tae a SoS ag °, or iad 2% sn ri contra es > a ud | . wi st a it anes tok, _-. ong atone ba “ bs aPs * tes sl “¢ a ses palin " 3 Px RRS ger Pa Pk gg Sage ary — oe « tage hier i bie sft te 3 a te lg mt hag ee Pek eee" phy oat npaon | he erat | Biaidy tein ‘Mr, an aly. ke onaman f ne wig. Gate T4 § : siasm, Your attention may be profit- ‘ably focused upon something it two cents at gare With quotations here st as much, Other sone South American gy ea > mpathetically weak, A | been losing gold st@ddily | ‘O this country and te Len- ‘Or some months past. De | Stock prices, with other t bles and market news, will “Ty on Pages 150, 160 and horse monument.’ “Tt made me sick tp look at . it] That plaza is the finest monument plaza tn St. Louis. . It is a crime to put a thing like that up there. I do not know the sculptor, but cme man of any artistic training can gee atia glance that .he fs not aj not 's stylist, but Just, doesn’t know his business. . “That 10-foot base te-too much, “Contineed oo Page 8, Ootaman 3.” ee ee ee ee ee ee ee ee ee rl wr lh wrlU rmlL OrlUL rlcLT erClT_ere_e_e eDT i) x Satine f Raery + " — Sa ” anal > + evere " prett ome beg Besa, = Pali Businéss ealling for a vow fm the Sarg Ad the Post Tg a AR BNR GL ORR A AIST IES PT ECT ES * I NS 4 7 ae —=— = — = = ‘iebladtale SAE