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President Asks Banks to Aid Credit's Flow AVERAOB DAILY CMUVLATIOK ef 5,436 laertaMng elendlaisss teolght; ■8 0 ralb Friday sbewern, sHghtly warnisr. St VOL. LIV., NO. 22. AtvsetMog m Pags lA) MANCHESTER, CONN, THURSDAY, OCTOBER 25, 1934. (TWELVE PAGES) DOaORS GIVE LEGION VOTES AYE THEIR SIDE OF PRESIDENT ASKS BANKS FOR A CASH BONUS REUff STORY TO AID CREDIT’S FLOW Carries MotioD by Vote ol FAMOUS ENGINEER Assert That Amount Receiv- Chief Exeentive Hopes for 987 to 183 Amid Lend DIES IN NEW YORK ed from Town Is Hardly Bankers to Advocate Harmony b Price Stabib Cheers — Coonecticiit Enough to Pay for Gaso izatbn, But Is Silent o i Votes Against It. Frank G.ipragne Was Once Balanced U. S. Budget line On Charity CaDs. Currency StabOizatbn. Assistant to Thomas Edi- Washington, Oct. 25.—(AP)—The<pgreater than those Included in any Fla., Oct. 36— (AP)—Rais- other peace time budget In our blS' A detailed presentation^ of the resolutions committee of the Amer- ing Its Voice In a monstroua "Aye'*, ican Bankers Association recom- tory, the President wisely took oc- Washington, Get. 28.—(AP)—Out the American Legion today demand- son—Only U a Week' facts discussed at s conference with mended to-day that the association casion to call attention ‘ to the fact Town Treasurer (Jeorge H. Waddell record itself In favor of a balanced that thesis expenditures should not of President Roosevelt's address to ed the Immediate cash payment of yesterday, supported by an enlight- National budget at the earliest pos- continued as a matter of per- the Bankers Association there arose the veterans bonus certificates by sible date. manent policy. today clear Indications that the ad- New York, O ct 38.—(AP)— ening review of the humanitarian the government. The vote was 987 The resolution said the balanced .Can OoUaborate. ministrations hopes for harmony In to 18S. Frank O. Sprague, engineer and In- acts performed by local physlclane budget was essential to the Nation- "We earnestly urge our members at an enormous cost to themselves pries stabilization aa quickly as Payment, Legion officials have es- ventor who for a time was assist- al welfare. It added that it recog- to support this sound policy that timated, would require an outlay of ant to Thomas A. Ekllson died of and at a material saving to the town nized that emergency expendi- we should return to a d^lnltely possible. In a speech In which he i^ u t two bUllona of dollars by the In regard to charity cases since balanced budget. We believe that pneumonia today at his home. He 1931, was clearly outlined to a tures at times ,:alled for in the charged the banking fraternity last government. Interests of human welfare. both government and business night to speed the flow of credit, tbs' There were eome boos In this 18th was 77 ye.ars old. He had been III Herald reporter at an Informal "Understanding, statesmen,” the should and can collaborate to has- annual convention of the Legion as orly a week. meeting of a group of representa- ten the time of such return. As- President Included this paragraph; Sprague was a pioneer In railway tive members of the Manchester resolution said, "meet such emerg- some etate departments cast votes encies as they arise, but at the surance that the budget Is to .be , •_'Wlth respect to international re- against a resolution by the legisla- electrification and equipped the Medical Association last night. : lanced will give rise to an expan- first modern trolley railway in the Secretary Dr. LeVerne Holmes same time make it clear that ex- lations, I have been glad to note the tive committee calling for bonus penses can not be all ed to exceed sion of indust^ and trade. growing appreciattem In other na- payment and remission of Interest United States a t Richmond, Va., in went over the minutes of yester- "The re-establishment of a bal- 1887. For years he was engaged In day’s meeting and last night Income Indefinitely." tions of the desirability of arriving, on loans already made on the eerv- The resolution was said to be vir- anced National budget would elim-. ioe certificates. promoting underground rapid brought out a complete report of inate tho fea. of currency infla- as quickly as possible at a point of transit. Born In Milford, Conn., what transpired. tually certain of adoption. steadiness of prices and values. This New York Booed. Some high officials of the associ- tion. It would iusure the stability New York's solid vote of 81 July 28, 1887, i be was graduate Have Been Reticent ation said the bankers had hoped o' our monetary system, which Is objective of .1 greater steadiness ws against the resolution drew boos taut from the UnlM States Naval Aca- Perhaps few residents of Man- the President would comment on fundamental to the general devel- have constantly kept before us as there were rollicking cheers as demy In 1878. He received degrees chester realize the extent of the ser- the budget in his speech last night. opment of aggressive business ofir National policy.’.’ Pennsylvania’s 73, California’s 60, from Stevens Institute and Colum- vices given by the doctors of the Principle Rwognized. plans as a major element in nation- Special significance was attached Illinois’ 77, Massachusetts' 43, Mich- bia University. town in behalf of charity since the The resolution said "this principle al recovery, re-employment and to this because sources close to ths After hie graduation from the full effects of the depression were administration expressed the belief igan's 83, and the votes of other big Naval Academy, he was a member waa recognized by the President of economic security. it was one of three salient points In states went for the bonus. felt here. Professional reticence on the United States in the compre- "A balanced budget would of of a jury at the Crystal Palace Ex- the part of the doctors In refusing the speech. They did not elaborate A roll call was demanded by New poeitioh in Lonc)on, England, where h'‘nslve message which be sent to neceaalty curb tendencies to extrav- York, Tennessee, Connecticut and to publicly expound their deeds, Congress on the fourth of last Jan- agant public expenditures, and on it, however. he bad charge of tests of dynamo might have created an erroneous What Bankers Wont Bllnols, although after the "Aye" electric machines, gas engines and uary outlining the future financial would Indude similar action by and "No" vote by voice from the Impression In the minds of short- policy of the administration and states and municipalities. Finally The remarks on price stabilization electric lights as reported to the sighted persons, who are always It would be a decisive Influence In floor Commander Eklward A. Hayes Navy Department. ready to unjustifiably condemn setting a time schedule for expendi- are not a pledge for currency stabil- of Decatur, 111., had said: "There’e He continued his electrical atudiee tures to be made in the interest of keeping the burdens of taxation ization which many bankers desirt. no queiUon In the mind of the medical men, that their first thought relief and recove.-y. within the capacity of productive Many of the 4,000 delegates who and experiments at Stevens Insti- A transcontinental railroad record of 76 hours which has stood since centers on the matter of the fee and chair.” tute, the Brooklyn Navy Yard, and "While the outlays called for were effort and enterprise.” crowded Constitution Hall to listen, Adoption of the resolution came 1906 was snooshed today by the M-YODOl, crack streamlined Union Pacific their secondary consideration on at- regarded the speech as leaving ths the U. S. Torpedo boat atation at train. In its nm from San Francisco to New York. It made the run In tending to the medical needs of the after only a few speakers were Newport, R. I. door open to whatever monetary heard. There were frequent calls 86 hours and 56 minutes. Probable'forerunner of regular 60-hour service people. strategy may be deemed advisable In 1883 Mr. Sprague resigned from coast to coast, the M-lOOl made all etops and observed safety speed One need only look at the splendid of "question" as the speakers fin- from the Navy to devote his time to attain the desired price level and ished. , limits to test regular schedule possibilities. Union Pacific officials pic- record of the local physicians In re- then keep It stable. to electrical work and It was at this tured here at the nose of the M-lOOOl shortly before the start of the speed lieving human distress In Manches- SEN. BARKLEY TO SPEAK There were boos and applause at time that he became an assistant to It was recalled the President has timee when speakers against the dash are F. W. Cbarske, Carl R. Gray, president, center, and W. A. ter to be thoroughly convinced that expressed a wish for a dollar that EkllBon. Hartiman. their efforts have been praiseworthy bonus resolution concluded. He founded the Sprague Electric would remain steady In purchasing AU Leave BaU. and the emoluments hardly enough power over a long period—In other Railway and Motor Company In to pay for the gasoline used in mak- IN BRIDGEPORT TONIGHT Immediately the vote was an- 1884 and this company using his words a managed dollar. nounced, the big theater began to ing calls to the homes of charity Another point stressed in adminis- constant speed electric motor, was patients. empty. Justifying the Yemark of the first to engage in the general tration quarters today was ths Their First Offer President's remark that bankers ars manufacture and Introduction of NEW STREAMLINED TRAIN When the depression struck Man- Keynoter National Demo- (Oonttnoed on Pago Six) electric motors.
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