L* T- SUNOCO OIL BROADCAST - 5/S4/3S y Good Evening, Ever^/body: ■dere s something that ought to reassure bank depositors, ^ A*e both those thwlt have money in the bank and those who to have it some day, ^The House of Representatives today passed the Bank Bill presented by Congressman Steagle of Alabama. This is the bill which provides that Uncle Sara iho^iV guarantee your deposit in the bank, | The extent of the guarantee is graded. For instance, youg ^djkpnikLr. 4m guaranteed a hundred per cent up to ten thousand dollars. = On the next fifty thousand the guarantee goes for seventy-five er* oer cent. J0«r any sum in excess of that toe^giesESi3±gOT;for fifty ' A per cent. Another provision of this bill forbids banks from having what is known as security affiliates, that is, affiliate companies v'hich hitherto have been dealing in securities and other investments, and doinr things which the banks themselves were not allowed to do. ■- ji I ____ f LEAD The measure also calls for stricter supervision of all national banks by the Federal Reserve System. The House passed the bill hy a vote of 262 to 13, a whopping majority, 17 rj b & MORGAN Thin investigation by the Senate Committee on Banking and Currency is furnishing the head of the House of Morgan with more tnan one ne^. experience. We learned today that during an interlude in the proceedings Hr. Morgan and his Counsel, John W. Davis, former candidate for President, were chattin? and Joking with newsnaner * reporters. You may think there*s nothing remarkable about that, but if you do, you don't know J. P. Morgan. RiiiEHKix Financial reporters tell me that for all his wealth and power, Mr. Morgan is probably one of the shyest men living. He has a genuine unaffected horror of meeting strangers and as for seeing a reporter, the very notion has always thrown him into a cold perspiration. Mr. baviSKand the reportfscswere jokingv Outside of this, the most interesting fact developed today was that Mr Morgan's testimony that in the years 1950 and 1931 he zur- in — n . b . c . REPEAL ( The final returns from New York’s election on the prohibition Question indicates as large a landslide for the wets as Postmaster General Jim Farley predicted.^ So he was not such a flamboyant optimist after all. Incidentally, President Roosevelt today confirmed the intimation made in the House yesterday concerning the connection between repeal and taxes. Those emergency taxes on your income and on gasoline which the Representatives have imposed to help finance the public works bill, will be eliminated if the country repeals the Eighteenth Amendment. Although fcfc is not a part of the statement issued by the President, nevertheless it means that anybody who votes against repeal is icorne taxes, wiSHP-to raise voting f r an increase of his own income e the price of the gasoline he buys for his car. CHINA Here's another angle on the Japanese invasion of China. It comes from a financial potentate of Shanghai and Hongkong, by name Sir Elly Kadoorio. Sir Elly, who was knighted by the British Government,, 1 ■ ew Yorker on his way to London, and he tells us some things about the situation in the Far East which ought to be quite significant to business men in the U. S. A. This Shanghai and Hongkong financier says that Europe and America are losing all of their influence and prestl -e in China as a direct result of the Japanese invasion. He says that the Japanese trade follows Japanese armies, and that British and American firms throughout Manchuria and North China are closing their doors, one after the other. What is more, if American or British firms want to sell any goods in China at all, they have to do it through a Japanese agent . —tfrw-t—Hncle Sam '-and—Eu-rope have— tfa a, 1 r i n-£1 11 ajiiaja l n the-rCeJ;erstr-l>»l—bee ana e t'h o Sir Elly Kadoorio of Hongkong and Shanghai, made another interesting observation. He thinks that one result of the CHINA - 2 Japanese invasion will be "the development of China into a military pov/er* The Chinese, he says, are buying airplanes by the hundreds and are equipping their armies with modern eapons. On the other hand, he said that no matter how much territory Japan overruns in China, the eventual result will be the same as it has always been throughout the centuries of Chinese history, and that is that the Japanese will become Chinese-ified. He points out that no matter what the race is that overruns China, no matter hoy/ complete the conquest, China always absorbs her conquerors. Correspondent ft San Francisco -- Ten He on v, Tanms CaXlfemia prisoner defending '-'-inself against a charge of surder growing oat of f the Preparedness Day banting, was ordered acquitted here this afternoon. The jury then returned a verdict of not guilty. It was one of the shortest trials on record, lo prosecution was race. There were no witnesses, and no statements made. Mooney must now return to San quentin to serve out his life sentence of murder, as a result of his conviction on a previous indictment in that bombing case; but his counsel, Frank P. Walsh is again considering asking for a pardon. WXM TO. MR*. SLOAN The Worlds Fair, the Uentury of Progress iSscpoBition, opened in Chicago todayl Wait a minutel That needs a little explanation. It probably sounds as though I sat a bit previous* What I should say is that the largest single exhibit at the uentury of Progress Exposition was officially opened today, the General Motors building. Mr. Alfred P. Sloan, President of General Motors, At v. was there, of course . £cxapat a picturesque dedication luncheon in the in General Metoi's Building on the Exposition grounds, the new Mayor of Chicago spoke, also Eufus Dawes, President of the Worlds Fair, the famous Walter %!! Scott, President of northwestern University. And then here was something interesting that happened. A number of European diplomats spoke light from the luncheon table by radio short wave, to their own countrymen in Europe, in their own language^ Among those who did this were Sebastian de Komero, Consul General of Spain; Lewis Bernays, He Britannic Majesty's Consul in Chicago? Hugo Simon, representative of Adolph Hitler; Giuseppe Uastruccio, representing Mussolini, and Jean Jacques Rene Weiller, Consul from la Belle France INTKO % One of the great figures in the American automobile world these days f which means th^worl^ automobile world, is the man ?iho is at the head of the vast corporation known as General Motors. And that man is -Alfred P«, Sloan# He it was who presided at the opening of the great building at the Century of Progress JSxpoeition. So let's ask Mr, ^loam what happened on this interesting occasion. How can we do that? Well, if those European diplomat© spoke from the General Motors Building on the Exposition grounds direct to their comitryffien in Europe today, surely we ought to be able to get in touch with Mr. * Sloant This Centuiy of Progress Fair is an exposition made up largely of the latest advances in science. So if we want to get in touch with Mr. Sloan out in Chicagojwhy all we have to do is just say, "Mr, Sloan, are you there? J'ust what did occur at the opening of your great building todayj*’ And new let'»-ewi4veh~-^yre^-a«d-ne<^-fy<>a-Mr-#---81oa». ax in Chieage** - & One of the great figures in the American automobile world these days, which means the woi^L^ autoiDobile world, is the man who is at the head of the vast corporation known as General Motors* And that man is Alfred P. Sloan. He it was who presided at the opening of the great building at the Century of Progress JSxposition. So let's ask Mr. ^loan what happened on this interesting occasion. How can we do that? Well, if those European diplomats spoke from the General Motors Building on the Exposition grounds direct to their countrymen in Europe todcy, surely we ought to be able to get in touch with Mr, « Sloanl This Century' of Progress Fair is an exposition made up largely of the latest advances in science. So if we want to get in touch with Mr. Sloan out is Chicago,why all we have to do is just say, "Mr. Sloan, VHM? HVh - are you there? Just what did occur at the opening of your great __ ^ building today^* And wow lot** ewi4i-eh^eve»y--ftnd^ecr^roiMwr^-flloafw /? wx. in -Chicago* il fJ'IS 1 BY MR. SLOAK: One interest ng thing that happened at the luncheon today was that Mr. Charles F. Kettering, Vice President of General Motors in charge of research, rode right into the luncheon room in a 1911 Cadillac. If you do not believe in this idea, which you recollect was a marvel at the time that it was produced, particularly so in one Interesting feature, viz., that It had the first electric self-starter ever put in any automobile. You will recollect that the Cadillac was the first car that was equipped with a self-starter and, yet more Interesting, that self-starter was invented by Mr. Kettering himself * Also, Mr. Dwight B. Huss, drove here to Chicago from Lansing, Michigan, and also came right Into the luncheon room in a 1905 Oldsraobile - a car called "Old Scout." This same car was the first motor car to make the trans-continental run from the east to the west coast - the very same car and the very same driver. FOLLOW MK. SLOAN Well, that was actually Mr. Alfred P. Sloan, President of General Motors, whom you heard speaking direct from the Exposition grounds in Chicago* ^BEtXhBWBBt16YfVKfti~>frv]lTif I WAS talking to «r. ^aul uarrett of General Motors on the long distance telephone a little wnile ago, and he told me that in this building thay^Rc^ at the Uentuiy of Progreas Fair they are actually erecting cars before your very eyes. They have an as: embly line, just as they do at their great factories in Micnigan. I qu can order a Chevy. Then you can start with the first piece of metal and follow the as: embly line end see your whole car constructed rignt before your very eyes. Before it gets off the assembly line it is marked especially with your name and with a piste telling how it came from the Century of Progress Exposition; and you can drive it right out of the building. 'Bow's that for an enterprising stunt? And here's whet hap ened at that luncheon today in connection As Mr. Sloan just told you, it. Mr. Charles r*. Kettering, Vice President in * with that assembly lint.^ charge of the General Motors Research Laboratories, and my Pi I in Ij^P* I University of Chicago, the great physicist and winner Arthur Compton of the " 1 / ^ - » FOLLOW SLOAH ~ 2 of the Kobel Prise, had at that luncheon today an apparatus which enabled them to start that Chevrolet assembly line by the release of a cosmic ray. That cosmic ray is supposed to be two billion years old. It has been traveling towards the earth at the rate of 186,000 miles a second — and just got here. I am obliged to Mr. Sloan for helping me out with my broadcast tonight by giving us some late spot news from the Exposition in Chicago BRIDGE An Interesting anniversary is being celebrated today in New York. It is the fiftieth Birthday of a bridge, one of whose peculiarities was that it has been sold to more suckers than any other public institution in the world. I mean, of course, the Brooklyn Bridge, and you may recall that once upon a time it was YU>/ quite a stunt for confidence men to sell the bridge to folks from \ out of town. Nowadays the confidence come from out of town and sell the bridge to New York suckers. Up to ten years a./o the Brooklyn Bridge was the longest suspension bridge in the world. As a matter of fact It was the first real big suspension bridge. It cost only twenty-five millions when it was built.. It probably would cost twice as much today. Plenty of dramatic tales are connected with its construction. Twenty—one of the people who worked on it were killed, and John A. Roebling, the great American engineer who conceived and planned this magnificent structure, himself died j.rom injuries received while it was being built. Historians will tell you that his work 3 • i was carried on by his son. Colonel Washington Roebllng, who turned BRIDGE - S out to be as great an engineer as his father. Colonel Washington Roebling got a bad attack of the bends, more scientifically known as Caisson Disease, and was bedridden during the last few years of the time it took to complete the iob. Nevertheless he kept up his work of supervision all the time. From a window across the East River he would watch the work going on with powerful binoculars. Reports were made to him just as though he were on the spot, and orders were issued from his bedside. His liaison officer was his son, who is alive today, and who incidentally, underwent a serious operation quite recently. The old Brooklyn Bridge all colled up in buntings and ribbons and a oarade of celebrities headed by bands made a formal crossing of the ^irldge^just as on the day it was dedicated. Incidentally, more than twenty thousand automobiles cross the Brooklyn Bridge each day, in case you are interested in figures. train Here s something new in the way of railroad transportation. The Union Pacific Railroad- is going to make an interesting experiment. Plans have been perfected to put on the U. P. Lines within six months, a high speed passenger train capable of doing a hundred and ten miles an hour. thT. Incidentally, the pailreod officials admit that the idea for this train was inspired by the criticism of the National Iransportation Committee, the Committee at the head of which was the late Calvin Coolidge. Its criticism stated that the troubles of the railroads are partly due to the fact that they have inadequate methods of handling passenger traffic. This is the Union. Pacific Railroad,s ansv/- r to that criticism. Carl Getz ♦ FKOyjDKftUK GKlr'i'LKD pny At the luncheon at the Providence Biltmore today I heard a pathetic stoiy* There* s a lad in Providence who has for years wanted to be a Boy Scout. But how could he? For years he has been bedridden, even obliged to have his legs clamped to the bed. But it was his life ambition to be a Boy Scout. The Scouts of Providence heard of this and they have just held a picturesque ceremony. Jfiddie Winsor, stretcher bed and all, was brought by car to Boy Scout headquarters in the Eden Park Volunteer Fire Company Hall. The Scouts of Providence went through their manoeuvers and drills for Eddie. Prominent citizens of Providence were there too. And the climax came when they ^ut the helpless lad on the bed through what is known as the "dubbing" ceremony Along with a number of other boys Eddie Winsor took the oath. He held his hand above the blanket and repeated the famous oath of the Boy Scouts. ’A’hen he received his Scout pin, and the crowd saw him kiss the pin and hide it under his blanket. Eddie himself was in tears, and so were the other scouts and people in the crowd. That is the story of the crippled boy of Providence who realized his ambition and * became a Boy Scout. L.T.-Phone ■bn ENDING - SNAPPY CQftTFTBAnK' Mr. Avard of the Sackville Tribune, has unearthed an excellent item about a certain Mr, Smart, who received a letter from his friend, Mr. Sharp. There was no stamp 9 on the letter so Mr. Smart had to pay double postage, and when he opened the letter it read: "You will be glad to hear I am enjoying the best of health.- Yours, Sharp." Considerably fed up,Mr. Smart icxtsHd wrapped up a without heavy stone, put it in a box, and ^c±±hxth^ paying any postage shipped it off to Sharp with the following note: "This great weightrolled off my mind when I heard the good news." And I imow a great weight will roll off your mind now when you hear me say — So Long Until Tomorrow, * Sackville Trib.-