L. T. . UNOCO OIL BK. ADCAS”] - 1 / 7/77 Goo G £ venin?*, I v e rybody: ^ There* s the deuce and all t,o pay over in London. President Roosevel' threw a bombshell into the midst of that world economic conference, and today practically everybody is saying ^J —1&4- KtJ .the conference is^as -ood as idmmi^ The President’s T.H.T, took the form of a cablegram to Secretary of State Cordell Hull, a cable in that terse and forceful style of A“r. Roosevelt’s which has now become faraili:r to everybody. In this message he minced no words and uttered a palpable rebuke to the gold standard j nations, especially France, for theSar attempts to cajole Uncle Sam I into a temporary stabilisation of the currency.J He told the nations that they were doing nothing less than trying to run the conference off the trackj to divert it from the . Oju* broad sweeping objects for which it had been called. A wireless message informs us that th text of the cable was made public in London by Secretary Hull, an to say that it created a sensation LFAD - 2 is putting it mildly indeed, jlhe old standard nations, France, Holland, Switzerland, Belgium, and Italy, were infuriated, and their representatives made no bones about their intention to walk outx j »n ■ This, of course, v. ill kill the thing as dead as a last, year1 s broadcast . that Prime Minister A. A Ramsay MacDonald of Great Britain, President of the Conference, is doing his best to save it, that is, to save its face.SMftd-Cftaegg' up-the ■epl4t—f»i* a Mr. Roosevelt*s message began with the following words: »I would regard it as a catastrophe amounting to a world tragedy if the great Conference of nations called to bring about a more real and permanent financial stability and a greater prosperity to the masses of all nations should, in advance of any serious effort to consider these broader problems, allow itself to be diverted by the proposal of^purely artificial and temporary experiment affecting the monetary exchange of a few nations only. "Such action, such div rsion,” the message went on, "shows LF AD - 2 is putting it mildly indeed, fehe old standard nations, France, V Holland, Switzerland, Belgium, and Italy, were infuriated, and their representatives made no bones about their intention to walk out* . This, of course, v,ill kill the thing as dead as a last yearns broadcast. that Prime Minister A ‘ A Ramsay MacDonald of Great Britain, President of the Conference, is doing his best to save it, that is, to sa.-re its face.s^d^eearngr Mr. Rooseveltfs message began with the following words: nI would regard it as a catastrophe amounting to a world tragedy If the great Conference of nations called to bring about a more real and permanent financial stability and a greater prosperity to the masses of all nations should, in advance of any serious effort to consider these broader problems, allow itself to be diverted by the % ^ proposal of nur* ly artificial and temporary experiment affecting the monetary exchange of a few nations only. -Such action, such div rsion,n tlv• .message went on, ”shows LEAD - 3 a singular lack of proportion and failure to remember the larger purposes for which the Economic Conference was originally called together.n jtam'krxxS® aaRX k ! i.-'OSHiiix xxJtSsKKEmif jexKnEEx Then the President explained: ’’Let me be frank and say that the United States of America seeks the kind of value which a generation hence will have the same purchasing and debt-paying power as the dollar value we hope to attain in the near future. That objective means more to the good of other nations than a fixed ratio for a month or two in terms of the pound or franc.n In conclusion Mr, Roosevelt said: nThe conference was called to improve and if possible, to cure sxx economic ills.,, It must not be diverted from that purpose.1’ The President's message was made public by the State Department in Washington this morning where it created as great a» excitement in official circles as it did in Europe. As for London, r L?' AD - 4 the situation has simmered down frankly to a contest between Uncle Sam and the nations of the so-called gold blocfc. One wireless laessage I received all committee work in the conference has \ A been laid, aside while the delegates are watching this struggle. incidentally The gold block eountrle^XMBtkJCta^refused to accept President Roosevelt*s proposal of currency based on commodity prices. They issued a statement.Behind, its polite wording is actually a defiance to the United States. It reads: T,We confirm, our intention to maintain the free functioning of the gold standard in our respective countries at the existing gold parities and within the framework of existing monetary laws.11 This message is interpreted as a threat to quit the conference. Meanwhile the price of Uncle bam1s dollar was tumbling on the money markets of the world. One observer describes the condition by saying that the conference was at sea in a fog without a compass. At any LEAD - 5 moment we are liable to hear the news that the representatives of France, Belgium, Holland, Italy and Switzerland have taken walk-out powders. In that case it would be useless for the other delegates to remain. Well, at any rate that conference has given us something to talk about for a few weeks. BOOS: VKLT tfVhile all this vms 'oi n-; on in I a rope ^resident Roosevelt was doing another unusual thing back home. He was holding a Cabinet meeting at sea, probably the first cabinet meeting of that kind ever called. Mr. Roosevelt arrived off Annapolis on the new ten thousand ton cruiser Indianapolis. His Cabinet ministers were brought to the Indianapolis on a destroyer, and for a while it looked as though the meeting would not be able to come off because the seas were a bit rough and the naval officers were doubtful whether they would be able to transfer their distinguished xx passengers am to the Cruiser. son-tees w^«- ef — the ■ T-r-^a-su^y—tr4-n-r re, an4- N.B.C. m * • MISHAPS Mishaps struck two American cities over the week-end. At San Francisco there was a huge fire which required the entire fighting forces of the fire departments,ios not only of San Francisco, but of surrounding towns. For several hours it threatened the whole of the famous Russian hill district, and at one time seemed likely to destroy the beautiful grove of' Redwood trees belonging to the Bohemian Club, one of the most individual clubs jifiadaggaat in the whole world. The fire was started by the firecrackers let loose at a premature celebration of Fourth of duly. And today Chicago has. been busy picking up whe pieces after that furious wind, hail, and rainstorm which did more than a million dollars damage on -the shores of -Cake Michigan yesterday. More than a score of people were injured. Houses were blown down, trees uprooted, and streets flooded. Electric power and telephone lines were broken, and the entire streets were blocked by fallen trees. N.B.C BUSINESS Althou ;a lots of people aidn't -o to work today, there was excitement aplenty in the business 'Anri;. In. fact, the stock ticker seemed feverishly unconscious that tomorrow is the big holiday of the year for us* Both stocks and commodities reached n e w high levels. might almost be described as a scramble. One of these,according to the fall Street Journal, was President Roosevelt1s message to the Economic Conference which had a. clecidedly booking effect on the market, largely because it is interprefeed as being the forerunner of inflation. 'Feconstruction Finance Corporation is going to loan Soviet Russia four million dollars to enable the Soviet to buy American, cotton, A wireless message informs us that Professor Raymond Moley, Assistant Secretary of State, held a long conference today with the Two bits of history contributed to this climb which Another tha t the Russian, envoy in London, These two facts are taken to mean, that recognition of the Soviet Government by Uncle Sam is just around BOS IHESS - S the corner, and that sent prices way up. On the ^ew York Stock Exchange leading stocks climbed anywhere from one to eight dollars a share. A total of nearly seven million shares exchanged hands. Steel stocks went to a *% i» new level. The magazine called 'Steel published in Cleveland reported today that twenty-eight more blast furnaces were put into operation in the month of June. This is the greatest gain in any month since October, 1922. The prices of cotton, wheat, copper, corn, and oats also went higher then ever. is tickled to death with the' news that there * s going to be trade between the U. 8. and Soviet Russia even if we do have to lend ^r. Stalin the money to do so. The dope is that if Uncle Sam * ^ does recognize the Russian Government we shall get a billion dollars worth of business out of it. Coast reports that In the past month its deposits showed a gain of seventeen million dollars. The tall Street Journal informs us that Wall Street Incidentally, one of the leading banks on the Pacific I HIGHWAYS X have several times had to admire the marvelous highway system of the State of New Jersey, I don’t suppose there is any finer boulevard anywhere in the world than the one in New v'ersey which they call the super-highway running all the way from Jersey City to the Pennsylvania State line. Experts tell me it’s a sup38ppiece of road engineering and anybody who drives over it A. has to admit it. Well, ^ew Jersey is oine to try a new experiment — night illumination for highways. Mr. Harold Hoffman* ^ew Jersey’s Commission r of ^otor Vehicles* has been investigating the problem accidents, ofand has discovered that & forty-nine per £ cent of those that occurred in the first three months of this year occurred after daylight* this in spite of the fact that night traffic is only one-fourth as dense as day traffic. Commissioner Hoffman has further established the fact that fully one-half of those night accidents ar • caused by improper vi sion. In other words, inability to see properly is the cause of one-half of these casualties. Commissioner ^offman contends that eventually the country HIGHWAYF - r k f / •at large In sheer self-protection will be compelled to invest in complete illumination for ell highways at ni;hi. Not merely a few odd lamps at intervals, but illumination so extensive that visibility ill be practically as ood as it is by daylight. So the newly appointed State highway Commission t «. ox New Jers-y has agreed to on two stretches of New A A S-Utt ^ Jersey *s roads. These sections, have? been chosen by engineers of the \ highway and traffic departments of the? State because accidents in those neighborhoods have been specially numerous. So the lights will be turned on tomorrow night, and those sections of New *JerseyTs roads will be as well lighted as they are in the daytime. •©x-perit!»e«4*.—^ trials. ere ■tyrc-rteedt^d-r”—^ut h^ odtio thert—*grfyty-d«mon6tratlons qp « p neoes-s-ftry—in- -erd—~K--to prove—ro—— ^uh3ric-i-n“~g entrrai. fctnrfc-^id oqua. •!»»». iil-umination a-k-n-i—ht will ^-be—en-e-ecMnoffilc.a.l. y--and VfiH~ y-edue^-cn'ormoua^aee’t—no-t—eftky-- -»-n liv'cs- and—s^fferi-nyi—^ PICKFOHD The reports concerning the bust-up of the marriage of Douglas Fai' ban'vs and Mary Pickford are true. These two, unquestionably the most celebrated couple in the show business the world over, whose names for thirteen years have been considered almost synonymous with married happiness — these two are going to live apart,^I have a formal statement here issued by America*s sweetheart, Mary Pickford herself. Safa she: "It is true that a separation between Douglas and myself is contemplated. If there should be a divorce, the grounds will be incompatibility. Beyond 7T that there is nothing further to say," But the gossips, of course. l are saying a great deal. They declare that the wrecking of this ss»which had almost the status of the proverbial Darby-and— Joan affair, is caused by the attraction which hobnobbing with royalty has for Dougi Of late years he has preferred to stay in Europe runnirn around with the royalty and nobility. especially <&& England, Miss Pickford, on the other hand, prefers the 0.8.4, and her own circle of friends in California, So apparently Doug!**, is PICKPORD - 2 to -o mm his way the palaces and famous old country A of England while hiss Pickford, vdio incidentally was born in Canada^and ic. et?neeoucnt:ly a-natural igcd ffitinon of’thin, oeua-fepy-^ will stick to the country of her adoption. N.B.C. -- &- — MOSCONI A distinguished visitor from Italy is in New Xork, Senator Antonio Mosconi, Premier Mussolini,s former Secretary of Finance. Senator Mosconi is here in connection with the Palazzo % dT Italia^ Jn other words, the palace of Italy which will be an important new building in the famous Rockefeller Center, New York. The building of the Palazzo d* Italia has the sanction of no less a magnate than Premier Mussolini himself. Senator Mosconi is the official representative of a group of five big Italian corporations which have been organized to promote thisx Italian building. Other celebrities interested in this institution ere Senator Marconi, Scialojcf^ f‘ inventor of wir< less, Senator formerly Foreign Minister of J-taly and president of the Counci 1 ia—fr.i pi*.of the League of Nations. Personal Correspondence BAL50 The weather is still being unki i to trr famous Italian Ace General Italo'Balbo, who is brim in an amnadcuof twenty-four Italian planes to the V.orld1 s Fair at Chicago, The Italian squadron is still held in the north of Ireland, waiting for an opportunity to hop off on the Aar next lap to Iceland^/ i>» 'yd? nine hundred an. thirty miles away. I just received a wireless report that General Balboas own plane and another airship were slightly damaged in a collision with one of the refueling boatsa But the damage has been repaired. There*s a curious irony in the death of Russel Boardman 7 ^^ at Indianapolis. Boardman who held the long: distance record A ^ ^ five thousand miles from New York to Turkey A yj i ^ £i^ in 1 VI without a mishap, was killed Japt a fifty foot fall in the /V A. races at the Mutticip&l Airport in Indianapolis. N.B.C. 6 f' MAKKT' j VAIN In the tov.n of* Fraaus , Pennsylvania, a magazine called the Clown is published. In the current-issue they reprint a story about -ark Twain which comes right home to me because I so often get behind tl hand with my mail. A friend wrote to Mark Twain asking his opinion on a certain matter, and received no reply. The friend waited a few days and then wrote again. Still no reply. Mark Twain1s correspondent then sent a third letter enclosing a sheet of paper and a two cent stamp. By return mail he received a postcard from Mark Twain which read as followsJ flPaper and stamp received. Please send envelope.n Clown BOOLE Here’s something that will interest everybody - Wet or Dry. (one of the most famous of the Dry leaders, and certainly the most famous of their women, is retiring. Yes, Mrs. Ella Boole, no less, who has for so many years been the widely-known President of the C.Tl Wernert’* e-^hrie-ti-^m-^empeyanoo Pniom Mrs. Boole announced today that she will not be a candidate for re-election. So tomorrow the W. C, T, 0. will elect a new president. NBC TENNIS ^ow for a bit of .■•port news. \The great Helen Wills Moody won her match again at V.’iahledon from a young lady of Switzerland in two straight sets.) This puts Mrs. Moody into the semi-finals. Ellsworth Vine., the Am rlcan champion, defeated the representative of Czecho-vSlovakia, but Lester Stoeffen, our star from Los Angeles, took a lickine from the great Frenchman, Kxxiix Hanri Cochet. Meanwhile in Chicago somn ninety tennis stars j Q jxa . assembling for the national clay coiart x championships. N.B.C. MAYOR All San Francisco is having a giggle at the expense of ike Mayor Angelo Rossi, K successful burglary was pulled off at the Golden Gate over the week-end. As though that were not enou h of an insult to the Mayor, who is also, of course, head of the police department, the burglary took place at the home of Mr. Rossi himself. While he was away for the week-end thieves broke into his house an took literally everything but the table and chairs and the Eaxh kitchen stove. San Franciscoans are