THE CHINA MAIL, APRIL 30, 1938.
Page
ROOSEVELT'S
PROPOSALS
TO
ANTI-TRUST
CONGRESS
Effective Control Of Bank Holding Companies
Urges Study Of Decline
In Competition
Washington, To-day.
a
President Roosevelt, in a message to Congress on Anti-Trust Law revision, recommends $500,000 appropriation for a "comprehensive! study of the concentration of economic power in American industry, and the effect of that concentration upon the decline in competition." The President proposes, for immediate enactment,
the following legislation:
Firstly, effective control and operation of bank
holding companies,
SOCIAL-
SECURITY
IN U.S.
to
Washington, Today. President Roosevelt has asked the Social Security Board study methods to improve and extend the social security system, including liberalisation of old-age. benefits, for Congressional action next year.Renter
CAMPAIGN AGAINST
MEXICAN LAWYERS
MEXICO CITY, TO-DAY.
MEXICAN LAWYERS WHO
Secondly, to prevent holding companies from ac-
quiring control of any more banks directly or ACTED FOR THE FOREIGN OIL indirectly.
Thirdly, to prevent banks con- trolled by holding companies from establishing any more branches,
Fourthly, to make it illegal for a holding company or any corpor- ation or enterprise in which it is financially interested, to borrow from, or sell securities to, a bank in which it holds stock.
LABOUR AT PROFIT
BERENGARIA FIRE Third In A Month
IN
U.S. RAILWAYS
SEEK TO SLASH WAGES
New York, To-day.
A motion for a cut of 15 per cent. in wages was passed yester- day by the United States. Railroad Association in Chicago, represent- ing 142 railway lines.
The reduction declared the As- sociation, was necessary owing to the falling off of receipts and ris- ing cost of maintenance-Reuter.
OFFICERS FOR CHINA'S ARMIES
COMPANIES DURING THE RE-
Canton, To-day: CENT EXPROPRIATION CRISIS, Over 400 military students
graduated from the Fourth Mili ARE ACCUSED
COM-
tary Academy of Kwangtung here MUNICATION FROM THE LE yesterday. They will be allowed a short leave to visit their homes and The third outbreak of fire in justGISLATURE ΤΟ THE CHAM- relatives following which they are BER OF DEPUTIES OF RECEFV to be drafted to the different units
at the Front Our Own Correspon ING FABULOUS FEES FOR ACT-dent. ING IN A TRAITOROUS MAN-
over a month occurred in the Cun- ard-White Star liner Berengaria 52,000 tons at her berth in the Ocean Dock in Southamton,
•
The Legislature suggests that a the special committee of the Chamber- were be appointed to investigate the
It was discovered by a patrol man NER. President Roosevelt recommend-in a tourist class cabin on “C” deck.
and ed this bank legislation to provide Southampton brigade for gradual separation of the banks Southampton Docks brigade from holding company control or called, but the fire was extinguish-matter.
ed before, their arrival by members ownership.
He declared the programme was of the crew. not the beginning of any ill-consi-
On February 14 several cabins on dered Trust-busting activity but a
"F" deck were programme to "preserve private en-the Berengaria's terprise for profit by keeping it damaged by fire as the liner lay at 3 fire free to utilise all our resources of Southampton. On March
broke out in the first-class lounge capital and labour at a profit.”
President Roosevelt declared of the liner in New York harbour. that the concentration of private She was refused clearance papers power to-day was unequalled in as a passenger ship, and returned history.
to Southampton empty save for her
ESSENCE OF FASCISM One lesson of events abroad that which had "hit home" was the liberty of Democracy was not safe if people would tolérate the growth of private power to a poin where it becomes stronger than their democratic state itself.
crew.
His Excellency, the Governor has been pleased, under instruction from the Right Hon. the Secretary of State for the Colonies to appoint Mr. Cornelious Charles Stimpson to be Inspector of Permanent Way,
"That, in essence, is Fascism," Kowloon-Canton Railway, with effect
from 27th April, 1938. he says.--Reuter.
Signor Gayda Protests Against America's Anti-Italian Attitude
Rome, To-day.
The frenzied spirit of hostility towards Italy dis- played by America," is denounced by Signor Gayda, writing in "Giornale d'Italia."
"What does the United States, the American policy of so-called defence, the character of offence." want?" he asks.
Mr. Harold Ickes, the Secretary "Does she want war with Italy?of Interior, Senator Byron Scott, Such a suggestion seems absurd Admiral Leany, and Mr. William and grotesque as well as almost Dodd, former Ambassador in Ber- impossible for geographic reasons, in, are denounced by Signor but this system of making Italy out Gayda for insults to Italy."- to be a permanent menace lends to Reuter.
ALEKHINE WINS
Margate, To-day. It is proposed that Mexican law- Alekhine won the International yers acting on behalf of imperialis- Chess. Tournament here yesterday tic interests should be deprived of with 64 points and one game yet citizenship. Reuter.
to play-Reuter..
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INC.
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ON SALE AT
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Office:
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