Weather Forecast Cloudy, occasional light rain late to night and tomorrow; little change in temperature; lowest tonight about 40. Temperatures today—Highest, 42, at 10:30 a m.; lowest, 41, at 7 a.m. Front the United States Weather Bureau report. New York Markets Closed Today. 'From Press to Home Within the Hour' Most people in Washington have The Star delivered to their homes every evening and Sunday morning. (JP) Meant Associated Press. 89th YEAR. No. 35,309. WASHINGTON, D. C., WEDNESDAY, JANUARY 1, 1941—FIFTY-FOUR PAGES. THREE CENTS. Greeks Report Taking Italian Reinforcements One Fortified Height After Another Is Declared Seized ■y the Associated Press. ATHENS. Jan. 1—Strong Italian reinforcements rushed to the Al banian battlefield in an effort to turn the tide against the Greeks were declared by a Greek spokesman today to be meeting the same late as the troops they came to bolster capture and defeat. The spokesman said Greek charges were driving the Italians from one fortified height after another along the coast beyond Chimara toward the port of Valona in one of the fiercest battles of the Greek-Italian war. Fighting almost as severe raged In the mountainous Tepeleni-Klisura • region to the northeast, it was said. There the Greeks reported en countering “stiff resistance" and breaking up Italian counterattacks j in fierce clashes for control of ; strategic heights. Claims 500 Prisoners. “Five hundred soldiers and officers, belonging to fresh troops Italy sent in order to strengthen her army in Albania, were taken prisoner,'* the spokesman declared. He said 700 others reported cap tured in a communique Monday night were taken in the Dnnos River sector, in the central fighting zone, and reports from the Chimara zone said 1,000 had been captured there. The Greek high command's com munique last night said an Italian tank attack was repelled and one tank was captured but did not say on what part of the front. Reports from the Chimara sector said the battle along the coast had raged for five days, through snow- ; storms and cold, and that Italian Alpine veterans and ski troops were among the prisoners taken there. That drive toward the troop and supply ship port of Valona was said by some observers to have developed into the main Greek offensive. Premier John Metaxas declared in a New Year message that the Greeks were ready to fight "to the last breath until the enemy is ex terminated." No Raids on Greece. “For this strife of ours—with full confidence it is right—we pray to God to ask His help." he said The Greek Ministry of Home Security reported there had been “no raids on Greece ’ yesterday. Italian reports told of intensive Bir activity, skirmishes with British planes and the bombing of Greek harbor*. Reports reaching Belgrade last night said a British submarine at tacked four Italian merchantmen convoyed by two destroyers in the sight of passengers on a Yugoslav coastal steamer and sank one of the Italian commercial vessels. Earlier, an Italian transport was reported sunk off the Yugoslav port of Bar. farther south in the Adriatic. Reuters, British news agency, quoted Belgrade reports that a British warship had sunk four Italian transports, loaded with guns and motorcars, in the Adriatic yes terday. Rome Reports Attacks Against Greek Outposts HOME, Jan. 1 (/Pi—Fighting be tween British and Italian detach ments in the battle of Libya and attacks against Greek outposts in Albania were reported today by the Italian high command. The daily war bulletin also said four British bombers were shot down In a raid on Valona, important Italian troop and supply base in' Albania. The high command's communique aaid: “In the Clrenaican frontier zone there was activity by our artillery, which effectively pounded enemy motorized columns “An enemy attack on one of our outposts on the Bardia front was repelled. “In another fight in the Jarabub rone (Italy's southernmost outpost on the Libyan front) our troops put enemy detachments tc flight. “Our assault and fighter air forma tions carried our repeated action on concentrations of enemy mechanized equipment, inflicting considerable losses on them. “On the Greek front activity of patrols and in some sectors clashes between advanced troops were re ported. “Formations of fighter planes and dive-bombers co-operated with land forces. Troop roncentrations and columns of supply trucks were ma chine-gunned and bombed. Numer ous motor trucks were set afire. “Yesterday afternoon an enemy air formation attempted to raid Valona. The navy's anti-aircraft ! defenses and pursuit planes, which quickly intervened, shot down three Blenheim planes. Another was shot down by a divisional battery. “All our planes returned. “In East Africa there was nothing noteworthy to report.” Japanese Leader Dies Bt tbe Associated Press. TOKIO, Jan .1.—Keisuke Mochi Buki. 73. former home and communi cations minister, died today of pneu monia. Vichy Reported Ending German Negotiations By the Associated Press. LONDON, Jan. L —A Reuters, British news agency, dispatch from Lisbon today said Chief of State Marshal Henri Philippe Petain's Vichy government and Germany had broken off negotiations. iThe Associated Press has re ceived no confirmation of this report from other sources. A dispatch from Vichy reporting Marshal Petain's New Year re ception of foreign diplomats gave no indication of fresh French German troubles.> Authoritative quarters here said "all reports of this character should , be treated with reserve." No con firmation was available in London. --- British Report Raids On Germany, Belgium And Netherlands . | Cologne Plant Among Targets Reported Hit in Attacks Bs the Associated Press. LONDON. Jan. 1—The Air Min istry announced today that British bombers made daylight attacks yes terday on targets in Germany. Belgium and the Netherlands during scouting operations. “Weather was unfavorable." an Air Ministry communique said in reporting on the offensive activity, “but bombs were seen to fall on a factory at Cologne. "Objectives at Rotterdam and the docks at Ijmuiden were attacked and near Flushing an anti-aircraft ship was hit and put out of action The Air Ministry acknowledged that two British aircraft were miss ing. Bombing of “an important bridge" at the Rhineland city of Emmerich. German custom station on the Netherlands frontier, and damaging of an “enemy" vessel near Flushing, the Netherlands, were reported. Essex Plant Attacked By Single Plane, Nazis Say BERLIN. Jan. 1 </P).—A single German combat plane, said to have dived to within almost 100 yards of its target, was credited today with scoring direct hits on a British armament factory at Essex. The German high command said the factory was attacked yesterday, along with other raids on "war-vital objectives” in London. It reported two British planes 'hot down yesterday of a total of tour attempting to raid a West Ger man industrial area No losses for the Germans were admitted. Both the German and British air forces abstained from attacking New Year eve, it said. The communique said: "On December 31 a German com bat plane in a daring solo attack from only 100 meters <328 feet) altitude bombed an armaments fac tory in Essex, scoring numerous direct hits. In London also war vital objectives were bombed. "Further attacks aimed at a rail way station as well as a harbor in the southeast of the island had ob servable results, which were con siderable damage to war-vital fa cilities and numerous fires in ware houses.” New Attack at Taranto By British Reported CAIRO, Egypt. Jan. 1 (JP).—An R. A. F. communique reported today ; that British planes bombed Italian warships at Taranto Monday night. Tire communique, which also an nounced a raid on Naples the same night, said 11 bombs were seen to burst around Italian warships at Tarantp. It was at Taranto that the British reported their torpedo planes crip pled half of Italy's six battleships and four other warships in a raid November 11. In raids on the Bardia area yes terday the British reported troops and motor transports concentrating military stores in the besieged Libyan port were heavily blasted. I Jobless Model Fears New Year, Takes Life B5 the Associated Press. NEW YORK. Jan. 1.—The body of an attractive blond model with a bullet wound in her chest was found today in a room at the Hotel Abbey In West Fifty-first street. She was identified as Dorothy Derene. 28. Police said they found two notes, one of which said she was despondent, "broke.” and un- | able to face the new year. She had been unemployed. Police questioned Irwin Alexander.1 32. in whose room the girl was found. \ He said she had knocked at his door and asked if she might use his radio | and phonograph. He gave her per- : mission, he said, and shortly after ward. left the hotel. He was booked on a charge of ille- ] gal possession of a revolver. Plank Injures Workman Hit by a plank while on a con struction job yesterday in the 600 block of E street N.W., Peter De Rose. 38. of 410 Sixth street N.W., was in a serious condition today in Emergency Hospital. He received a fractured back, fractured rib and internal injuries. Sixteen-Page Financial Review The C Section of today's Evening Star contains 16 pages of review, forecast and comment, together with complete New York Market tables. Particularly important are the opinions by various leaders on what lies ahead this year. Summary of Traffic Fatalities On page A-12 will be found a survey of the accidents of the past year and the causes which led to the deaths. It Is food for sober thought as the new year begins. President Toils On Message ToCongress May Elaborate On Defense Talk; Lease Plea Indicated the Associated Press. President Roosevelt ignored the holiday today to put in "the first real lieks" on his annual message to Congress—an address awaited for , a followup and elaboration of the policy he outlined Sunday in his i defense talk to the Nation. It was believed that Mr. Roosevelt probably would incorporate in this message on the state of the Union some material that time limitations prevented his using in' his Sunday radio broadcast. Mr. Roosevelt himself indicated yesterday that the message would include a request to Congress fcr broad authority to lend war supplies to Britain, with perhaps discre tionary authority to negotiate for \ repayment both “in kind" and in raw materials or other products. The President's message to Con gress—to be delivered Monday—was the next scheduled major adminis tration pronouncement on the whole involved question ot defense, British . aid and international relations Meanwhile there was no slackening in developments in any of these fields. Defense May Be t’nified. Further action for speedier arms production was reported under con sideration, Mr. Roosevelt was said to be planning to concentrate in William S. Knudsen all the actual power of the newly-created office of i production management, "supreme command" of defense production. A tentative drait of an executive order which Mr. Roosevelt was said to be considering would make Mr. Knudsen the administrator of the program, and give to the other three members of a four-man council only advisory powers-. When the President announced his plan recently, he said it would be carried out through a council composed of Mr. Knudsen, Secre taries Stimson and Knox and Sid ney Hillman, member of the De fense Commission in charge of labor. Mr. Knudspn is the defense commissioner in charge of produc tion. In Congress, Chairman George of the Senate Foreign Relations Com mittee. added his voice to those who hate registered opposition to the idea of American convoys for ; military supplies to Great Britain, i Sees War as Consequence. Senator George, an advocate of all possible peaceful aid to Britain i said convoys would involve this country in the war. No official sug gestions for a convoy system have been made, however. The No Foreign War Committee, j an organization critical of some ad ministration policies, was assailed yesterday by Senator Lee. Demo crat. of Oklahoma, who chargpd that its "anger was a wealthy oil merchant with a "great financial stake" in a Nazi victory. He named the "angel" to re porters as W R Davis, New York oil operator. Verne Marshall, chair man of the No Foreign War Com mittee. asserted Monday that Mr. Davis brought a “just and honor able'' peace proposal from high Nazi leaders to the administration in Oetober. 1939. but was rebuffed. Mr. Roosevelt was asked about these reported peace overtures at : his press conference yesterday, and he replied that he had nothing to add to the State Department com ment. That department's answer to Mr. Marshall's story was that no “feasible'’ peace proposals had been submitted to this Government. Marshall Issues Statement. Mr. Marshall, in New York, called ! on the President and State Depart ment last night to make public the peace plan he said Mr. Davis had brought. He described it as the "agenda” for a "sound, just and hon orable economic peace.” Mr. Davis issued a statement in New York indorsing the purposes of j the No Foreign War Committee and expressing confidence that "when, I in the opinion of the present admin istration, the best interests of the country can be served by making public the information which I have from time to time delivered to it, it will be made public.” In charging that. Mr. Davis has a “great financial stake” in Nazi vie- \ tory, Senator Lee said: "Much of the gasoline sending showers of fiery death into the de fenseless heart of London was sold to the German government by this man Davis in the months before the ! war started, but his traffic in this ; German-bound oil happily has been (See DEFENSE, Page A-3.1 Mummers' Parade Jams Streets of Philadelphia By the Associated Press. PHILADELPHIA. Jan. 1.—Cli maxing Pennsylvania’s biggest New Year celebration since 1938, record breaking crowds which police esti-1 mated would exreed a million lined I Philadelphia’s Broad street today j for the city's annual big show, the Mummers’ parade. Comparatively mild weather brought spectators out early and by dawn thousands anxious to glimpse the event crowded sidewalks and porch steps along the 5-mile route. Flouncing down Broad street in a whirlwind of regal finery and fast-stepping string bands, the j Mummers, 15.000 strong, weret scheduled to reach the reviewing stands at City Hall shortly before noon. It is there that disposition of $23,000 in prize money will be determined. One of the most colorful events in the Nation, the parade had Its inception in Colonial days when masked gentlemen roamed the streets on New Year Day serenad ing citizens who were expected to toss them coins for drinks. ALL aid : for , [BRITAIN. US. City's New Year Day Is Quiet After Big Welcome to 1941 Three Traffic Deaths in Nearby Area Mar Record-Breaking Celebration Washington observed New Year Day quietly today after hailing 1940's successor with a record-breaking celebration that was marred by the deaths of three persons in traffic accidents in nearby communities. As throngs of hilarious merry makers filled downtown streets and sidewa’ks. night clubs and hotel cabarets with an ear-splitting bed lam, police also counted 11 injured in automobile crashes. Thos’ killed were Annie Mae Boyd. 930 T street N.W.: Miss Lynde Crockei. 21. of Alexandria, and Regan Russell. 28. of Baltimore. New Year messages to America's defense forces were delivered over a Nation-wide network of the Mutual Broadcasting System at noon by Col. William' R. Arnold chipf of chaplains. U. S. A : the Rev. Robert E McCormick military chancellor of the Army-Navv Diocese of the Roman Catholic Church: the Rev. Paul D. Moody, director of the General Committtee of the Army and Navy Chaplains, and Dr. David rie Sola Pool, chairman of the Com mittee on Religious Activities of the National Jewish Welfare Board. "There are unmistakable indica tions that 1941 is fated to be a year of momentous decisions and events for this Nation and every one of its iSee NEW YEAR. Page A-4.1 1 Four Big Bowl Games And East-West Tilt On Air Today Washington radio station' will broadcast the four out standing football bowl games today and. in addition. WOL will air the East-West game starting at 4:45 pm. The Orange Bowl game fea turing Georgetown and Missis sippi State will be the first to go on the air. over Station WJSV at 1:45 pm. At 2 p.m WMAL will broadcast the Sugar

Bowl game between Bo'ton College and Tennessee and at the same time WOL will take the air with the Fordham Texas Aggies Cotton Bowl en gagement. The Rose Bowl game, with Stanford and Nebraska meeting, will be broadcast over Station WMAL starting at 5 p.m. Bulgarian Premier Leaves for Vienna; Nazi Talks Seen 'God Helps Those Who Help Themselves/ Says Philoff on Departing B? the Associated Pres*. SOFIA. Bulgaria. Jan. 1.—Bul garian Premier Bogdan Philoff an nounced he would go to Vienna today for "medical consultation." then told Bulgars in a radio speech before leaving that "God helps those who help themselves." The Premier spoke as Germany continued sending a steady stream of troops and material through Hungary to swell the already large Nazi Army lined up close to Bul garia's northern frontier. The studious professor-Premier thanked the "great leaders of Ger many and Italy" for their support in helping Bulgaria regain Dobruja from Rumania, then expressed his hope for a "better future for Bul garia." Cites National Saying. “But let us not forget.” he said, “in this serious moment, our na tional saying that God helps those who help themselves. “Let us remember another ancient truth, namely, that every nation must shape her own destiny. That is why we must be aware of the fact that it depends largely on us what 1941 brings.” Immediately after the address the Premier boarded a train for Vienna. He was accompanied by his wife. Although officially he was taking the trip only for the sake of his health—and was expected to con sult specialists in Vienna—some observers believed he would talk with German Foreign Minister Joachim von Ribbentrop or some i other high Nazi official to learn what the Reich plans to do with its big army in the Balkans, and what part Bulgaria will be asked to play. Warns of Sacrifices. Premier PhilofT toid the Bulgars “if we want to secure the vital interests of our country, if we want to secure a better future for our sons and grandsons, and if we gen uinely want a happy New Year, let us be ready to make all sacrifices imposed by the necessities of the moment for our well-being and success.’ For that purpose, the Premier declared. Bulgars must “stand firm ly united” around the throne. Rumania's Moscow Envoy Reported Summoned Home BUDAPEST, Jan. 1 (IP).—Diplo matic dispatches from Bucharest last night said Grigore Gafencu, Ru- j (See BUIX3AmA7Page~A^T) I Chicago's New Year Baby Is Boy Named Stork B> the Associated Press. CHICAGO, Jan. 1.—The clock in the Lewis Memorial Hospital struck i midnight as the stork brought Chi- j cago's first 1941 baby—a boy named | Stork. Attendants said Mrs. John Stork gave birth by caesarian section to a 7-pound 6-ounce boy as the clock tolled the midnight hour separating 1940 from 1941. Airplane Pilot Hurled From Ship During Snap Roll F\ t*- Sssocinted Pres*. OAKLAND. Calif.. Jan 1—Ralph BotthofT was jolted out of his open cockpit plane while making a snap roll. 4.000 feet up. He parachuted into the bay and was rescued 15 minutes later, chilled and near ex haustion. The 23-year-old pilot told rescuers he felt a sudden jerk, as if some thing had snapped, half-way through the rot! He loosened his ssfety belt and tapped his fellow pilot. James Burton Duncan, on the head. At the same instant the plane jerked again and he was thrown out. Dun can did not know BotthofT was gone until he saw the parachute billowing out. A rudder wire was broken, but by careful maneuvering Duncan got the plane back to the airport. It hit on one wing and pancaked. Duncan, unhurt, sent aid to Bott hofT. A Navy amphibian plane located him. He had disentangled himself from his parachute and was swimming wearily nearly 2 miles off shore. Summary of Today's Star Page.! Page. Amusements B-20 Serial Story B-6 Comics * B-18-19 Society B-3 Editorials A-8 Sports A-16-17 Lost, Found B-15 Woman's Obituary .. A-10 Page A-ll Radio_B-18 I Foreign. Greeks report capturing reinforce ments rushed by Italy. Page A-l National. Federal Reserve urges repeal of revaluation powers. Page A-l Five men rescued after 18 hours in soft coal mine. Page A-2 Washington and Vicinity. City quiet after hilarious New Year eve celebration. Page A-l Naval Reserves off to Norfolk today as service begins. Page B-l Three persons lose lives in holiday traffic crashes nearby. Page B-l Editorial and Comment. Letters to The Star. Page A-8 Answers to Questions. Page A-8 This and That. Page A-8 Constantine Brown. Page A-9 Jay G. Hayden. Page A-9 Jay Franklin. Page A-9 Dewitt MacKenzie. Page A-9 Frederic William Wile. Page A-9 Sports Third of a million fans to see six grid classics today. Page A-16 Odds favoring Maroons fade as Hoyas enter Orange Bowl. Page A-16 1 Blair quint aims to unseat Barons as county champ. Page A-17 Miscellaneous. Nature's Children. Page B-2 Bedtime Story. Page B-18 Winning Contract. PageB-19 Uncle Rays Corner. PageB-19 Cross-Word Puzzle. Page B-19 Vital Statistics. PageB-12 Service Orders. Page B-l* i Third oi Million Grid Fans Will See Six Bowl Tilts Today Pasadena's 90,000 Leads; Hoyas Play Maroons at Miami Before 34,000 By Jl’DSON BAILEY’, Associated Press Sports Writer Footballs first fling of the New Year will entertain a third of a million spectators today at half a rioren “bowl'’ battles scattered from Flotida to Hawaii. No single garr.0 could claim to decide any national championship or other honors, but all promised to be fiercely contested. A tremendous throng of 90.000 fans was expected to take advantage of ideal weather to sit on the proceedings at the Rose Bowl in Pasadena, Calif., where undefeated Stanford, champion of the Pacific Coast, was an 11-5 favorite over once-beaten Nebraska. The game was scheduled for 5:15 p m. fE. S. T.l with a broadcast by N. B. C. Pairs T'ndefeated Elevens. Another 73.000 persons have bought seats for the Sugar Bowl at New Orleans which boasts the only con test involving two undefeated and untied contestants—Tennessee and Boston College. It will be the third annual bowl game for the Volunteers, who went to the Rose Bowl last New Year Day and the Orange Bowl the pre vious year, and they rated 2-5 favorites over the high scoring Bos ton Eagles. This game was scheduled for a 2:15 p.m. tE. S. T.) start and a broadcast by N. B. C. Rain was in the offing. Only slightly less glittering na tionally and fully as important to the parties concerned were the day's other grid spectacles. Dallas Game a Sellout. The powerful Texas Aggies, upset in their final game of the season by an inspired Texas team, were matched with once-defeated Ford ham before a sellout growd of 45,000 in the Cotton Bowl at Dallas. Tex. Occasional rain was predicted, but sunshine peeked through lifting clouds and the threat of rain disap peared hours before game time. The game was set for 2:15 p.m. 'E. S. T.) with broadcasting by Mutual. Mississippi State, tied but un (Continued on Page A-16.) Soviet-Japanese Pact On Fisheries Expires B5 the Associated Press. MOSCOW. Jan. 1—The Soviet Japanese fisheries agreement ex pired last night without signature of any new accord. Negotiations have been under way since December 27 for renewal of the agreement granting the Japa nese the right to fish in some Soviet waters in the Far East. London Correspondent Ousted From Portugal E> the Associated Press. LISBON, Portugal, Jan. 1.—Walter E. Lucas, Lisbon correspondent of the Times of London, was ordered last night to leave the country within 48 hours because of the gov ernment's objection to a series of articles he wrote entitled ‘Tn Portu gal Hitler Schemes Against Britain.” 1 Reserve Board Acts To Protect Currency And Avert Price Rise 5-Point Plan Asks Repeal Of Presidential Powers an<r Gradually Mounting Taxe: By thf Associated Press, The Federal Reserve System today recommended re presidential powers to revalue the dollar and issue ' grer money, in a program designed to prevent the inflation- and prices—which might result from huge defense spending. Also advocated among the proposals requiring emigre approval was a gradual increase in taxes until the Federal is "balanced,” or, in every-day language, until Governmc collection can pay for the Government's expenditures. Chairman Marriner S. Eccles, in making the proposal said it was purely of a precautionary nature. He added it had the unanimous approval of the I Board members, presidents of the 12 Federal Reserve bank the Federal Advisory Council, which represents the 7,000 indi vidual banks belonging to the Federal Reserve System. Plan for Auto Plants To Make Warplanes Called Impracticable Defense Experts Turn Down Reuther Project 'With Reluctance' B> the Asfcocia ed Press. The Reu*her plan for utilizing ail tomotive industry facilities to turn out 500 warplanes a day was reluc tantly termed impracticable today by high defense production experts. The plan, calling for use of now idle automobile plants and machin ery to step up aircraft production, was fathered by Walter Reuther, director of organization for C. I. O.’s United Automobile Workers at General Motors plants. It was sub mitted to President Roosevelt by Philip Murray. C. I O. chief. Mr. Roosevelt said then that it was receiving serious consideration, but today defense experts who de clined to be quoted by name listed these obstacle': 1. The difficulty of obtaining suf ficient machine tools, either new or old. 2. The impossibility of obtaining ; sufficient aluminum products in the 'ix-month preparatory period before ; the projected start of 500-a-day plane production. Auto Plants Preoccupied. 3. The fact that automobile plants already were being assigned major defense jobs—the production of thousands of engines and of other parts for 3 600 bombers to be as sembled in four Middle Western plants. 4. Lack of immediate armament for so great a number of planes as the LT. A. W. plan contemplates. Production experts said they were reluctant to find fault with the plan because it demonstrated the desire of labor to contribute to the defense program. But they added that the practical difficulties made it impossible, and insisted that the facilities of auto plants would be enlisted in plane production under present schedules as rapidly as other elements in the industrial picture would permit. Foremost among other obstacles they listed the choked condition of the machine tool industry’, al ready crowded with orders for tools to make planes, tanks, guns, shells and other munitions. Retooling Had Been Asked. Mr. Reuther, in his proposal, as serted that many of the most pre cise parts for Allison liquid-cooled plane engines were being made with . retooled machinery. He proposed that similar idle machinery be re tooled for plane making. The view of the production experts Is that the automobile companies which have received or are about to receive defense orders may be relied on to use existing machinery where possible. It would be utterly impossible, they contended, to obtain from the overloaded machine tool indus'trv the retooled or newly-tooled equipment necessary to turn out the engines and other parts for 500 planes a day. As to aluminum, it was declared that the aluminum industry has had l to expand swiftly to turn out the ! products for the current output of | about 25 planes a day. Further rapid expansion of the industry is planned to keep pace with the increased plane production now in sight, but no official interviewed believed it possible to step up the production of aluminum forgings in six months j to the 500-plane-a-day level. New Swiss President Pledges Independence ' B» the Associated Press. BERNE. Switzerland. Jan. 1 — President Ernst Wetter promised his people in a New Year inaugural broadcast today that Switzerland's 650-year-old tradition of independ ence would be preserved through “the dark future.’’ The new President asserted the neutral Swiss must suffer with the belligerents in the European war, since world economy was upset by the conflict. Increased production and a careful economy, he said, offer the solution for Switzerland's problems. The Federal Council which governs the Swiss federation founded by the men of the forest cantons in 1291, he added, "can and will see to it that the burdens are equally divided.' Referring presumably to bombings of Zurich and Basel, President Wetter noted that “recent events" showed Switzerland could not be spared even the direct effects of the war. 1 Briefly, the plan called for technical measures to prevent use of most of the $7,000,000,000 idle money now in banks for excessive loans; a reversal of administration policy in some monetary fields, and. finally, the eventual balancing of the Fed eral budget through higher taxes. Report Sets a Precedent. The report—first of its kind ever made—explained that "vast ex penditures of the military program and their financing create additional problems in the monetary field which make it necessary to review our existing monetary machinery and to place ourselves in a position to take measures, when necessary, to forestall the development of in flationary tendencies attributable to defects in the machinery of credit control. "These tendencies, if unchecked would produce a rise of prices; would retard the national effort for defense and greatly increase its cos', and would aggravate the situation which may result when the needs of defense, now a stimulus, later absorb less of our economic productivity.” Five-Point Plan. The plan was listed in five point?, as follows: 1. Immediate increase by con gressional action of deposit reserve requirements on all member bank?; authorization for the Federal Re serve Board tc double these rec ments if necessary in the fv make all banks, whether chat by the Federal Governmer States, subject to these req. re ments. 2. Remote President's pow • change gold value of the c repeal Treasury authority to $3,000,000,000 of "greenback'' n and repeal Treasury authorit issue money against the frnrr silver it buys. 3 Neutralize money exp; effect resulting from United ~ •• purchases of foreign gold. 4. Sell future Government src i . ties to individuals and corporation and not to the banks. 5. Gradually increase taxes un... .. balanced budget is reached, not later than some future time when the country will have reached its "full utilization qf its economic capacity, with appropriate considerations of both employment and production.” Has Responsibility, Lacks Powers. The statement complained that the Federal Reserve System has the responsibility of credit control but. has insufficient powers to ‘effec tively discharge" those duties. Mr. Eccles submitted the report to Secretary Morgenthau before mak ing it public, saying: “It is vital to the success of these measures that there be unity of pol icy and full co-ordination of action by the various governmental bodies.” No one at Federal Reserve head quarters would say whether the pro posal had administration approval. However. Lauchlin Currie. President Roosevelt's personal economic ad viser. attended a Tuesday meeting with Mr. Eccles and Mr Morgenthau on the subject. In the summer of 1939 the ad ministration mustered all its con gressional strength to win a bitter fight to renew the President's dollar devaluation powers, which the Fed eral Reserve group now urges be abandoned. Under the 1939 act. this power will lapse June 30. 1941, if not renewed again. Federal Reserve spokesmen, how ever. said the business boom created by the defense program had radical ly altered coditions so that, regard less of their former merit, this and the greenback and silver money powers were no longer either neces sary or desirable. To Prevent Excessive Loans. The silver proposal specifically provided for no change in the pur chase and monetization of domesti ~ (See MONETARY, Page A-4.) Navicerts Are Ordered For Exporters in Eire Bs the Associated Press. LONDON, Jan. 1.—The Ministry of Economic Warfare announced today that effective January 22 ex porters in Ireland < Eire > must ob tain navicerts for shipments to a number of foreign countries, includ ing several European neutrals. Soviet Russia, French West Africa and certain smaller territories, but not including the United States. No Late Editions Today Due to the holiday. The Star will not publish the 5:30. Night Final or Night Final Sports editions today. Subscribers to these editions will receive the Home edition.