davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06

quantity Thus the first report un"ei ''i'
general law estimated the surplus 81 ma
ket values, giving also the par surplus
but not the par and-market' anu VIE
market value was kept up till the emu VA
1907 as the official surplus
However, the movement for recosnizhi7
amortization as a regular element OF tnS
profit and loss had begun carrier Inc
subject was brought to the afternoon VI
the New York State Savings Banks Aaso-
ciaticn by an address delivered III Mo -
1903. advocating the "arnortization primer
pie The executive committee rererleo IL
TO subcommittee, of which one "I .ii7
members was Mr. Rhoadess father, OF tne
same name, then president Of the Green
wicil Savings Bank The report was uhah-
imously and positively in favor OF the ret
IGNITION of the principle Of amortization
or the gradual cancellation OF premiums
and discounts. leading TO par at maturity
It was not supposed at that time py lne
committee or by SUPERINTENDENT kilburn
that legislation was needed for TINS pui-
DOSE AZ the time of his retirement, III
1867, Mr. KiIburn, having warmly aoFo-
Gated the principle. was considering way
and means for gradually converting the
difficult task for Old and large institutions
Clark Williams was in favor of amor u
cation, and presented to the Legislature Oh
1908. in his report, an admirable set oi
arguments for the principle, and for rn-
acting IT into law. which was done at his
suggestion, without any persuasion" by
the banks: vet the events Of 1897 persuaded
the banks that the market value BASIS
+I-a AT teal
During the years when prices OF BONDS
were high Cor, otherwise stated, interest
rates were ahnormaIly low many banks
were guilty of two gross errors in finance
by which the surplus was finally depicted
until il is now lower than desirable III
many eases.
Error No. Having charged oil, as Al
loss. the entire premium in the year OF
purchase, they considered the entire cou-
pon as revenue, even If it was per cent
while the real revenue was 3i@ Ter cent
Error No. Estimating their profits
without analysis, as the increase OF sur
plus during the half year although TO
great extent attributable TO mere huctua-
tons of the market. they inflated The
earnings.
Besides these causes. We must not forget
the legislation under Qdell which imposed
a "franchiso" tax dirsctly on the surpius.
encouraging trustees to make the surplus
as small as possible. Many OF us, myseif
among the number. believe this was UNCUT
tous politics.
My friend Mr.. Rhoadss is by occupation
a dealer in bonds; he naturally inclines to
the mercantile view: but this is not the
correct one for a savings bank, which /
hope he will pardon M for saying rs
largely an investment institution, rather
than a bank, with its attendant cash la
bilities'' CHARTS =. SPRAGJE.
New York, Dec. D. 1919
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
SAVINGS BANK SURPLUS
C. E. Sprague Explains Methods Used
in Superintendents' Computations.

TO the Editor of The Tribune.
Sir: John Harsen Rhoades. repeating In
a letter TO The Tribune printed to-day
what ne has several times said in public
addresses. presents erroneous account
of the so-cailed amortization amendment
TO the state banking law. The banks, he
says, shortly after the panic of 1907 per-
suaded the Legislature to abrogate the old
law. which demanded a semi-an-
nual report of their condition. based upon
market values. and substitute the amorti-
cation law, permitting them TO appraise
their bonds to all intents and purposes at
cost
II is impossible to abrogate a law which
never existed. There never was anything
in the ..old law authorizing a computa-
ton of surplus on market values. Super
intendents used this basis of their own
accord. rather than resort TO the one pre-
scribed in Section III for ascertainng the
percentage of surplus, that being the only
guide given in the statute this basis being
pon1iiarly known as ''par-and market" AT
the time of the adoption OF tho general
savings bank law. III 1919. the 'par-and-
market" basis would have reduced the
surplus OF many banks to zero or minus
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
IN WASHINGTON SOCIETY.

From! The Tribune Bureau
Washington Dec. 5.-The Eice-President
and Mrs Sherman issued invitations to-day
for a dinner in honor of the President and
Mrs Taft for December 10. This date
starts the official round Of Cabinet dinners
in honor of the President and Mrs Taft
which this year. as last. will be somewhat
disturbed by Two Of the Cabinet families
being in nourning-those of the Secretary
OF state and Mrs. Knox and the Secretary
Of War and Mrs. Dickinson.
Miss helen Taft was the guest Of honor
81 a dinner tonight with the Assistant
Secretary of the Navy and Mrs. Beekman
Winthrop as hosts Their other guests were
the Postmaster General. Major and Mrs
Spencer Cosby Lieutenant and Mrs. Rich
ard Wainwright. Mr.. and Mrs William T.
S Griswold. of Washington and New York
Mss Adel Colgate of New York: Miss Mar
gerry Cotton Miss Mary Sutherland. Miss
Mary Carlisle. Professor Henry - Emery
Willing Spencer. secretary Of the embassy
in Russia; Lieutenant Commander Henry
\ Butler and William Hit
Mrs James ". Pmchot was at home this
afternoon. when a number OF well known
persons called 10 bid gocdby to Lady Alan
Johnstone Mrs Livingston Hunt. Mrs
Harriet Blaine Beale and Miss Morgan as
sisted Mrs. Pinchot and Lady tombstone.
Mrs Pinchot and her daughter will go 10
New York tomorrow. and en- December Il
the latter will sail FOR Copenhagen.
Mrs. Robert W. Patterson and her dauSn-
ter. Countess CiizycIi. viii como 10 Wash
h:gton soon and open their house, in Du-
pont Circle. for the winter
Mr. and Mrs Peter CioeIet Gerry. VINO
were the guests for several DAYS of the lat
ter's mother Mrs. Richard II. Townsend.
have gone TO the Hunt Club meet at the
Plains. Va. They viii return soon for an
other visit 70 Mrs Townsend.
Miss Dorothy L-anglItt entertained mum
Der of guests at dinner tonight in honor
% Miss Winnifred Davis and Lieutenant
Richard 9. Moore. engineer corps. I. s. A.
whose marriage will take place on Wednes-
day.
Major William =. Cannon. quarJermas-
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
A DUTY FOR THOSE AT ALBANY

To the Editor of The Tribune
Sir: Among other matters of great i'm
port there Is one in which all self-respecting
citizens of this state, irrespective Of party
affiliations. are at this time deeply con-
cerned, namely. its representation in the
I Senate of the United States
The many Republican voters who at the
recent election. for causes commonly
known. turned their backs upon their own
party, have the right to expect from the in
coming state administration and from its
party managers. in matters vital TO the
public interest, such action as will best
serve the interests Of the people of this
state. and that will rebound to the credit OF
the state and of the nation
The personal attributes that 60 to make
a successful politician are. of themselves,
inadequate to constitute tho statesman The
broadcast, highest mental and moral quail
ications alone can do that-a mature men
tai grasp of economic conditions both at
home and abroad. an unerrmg comprehen-
sion of the great principles underlying all
wholesome legisis ton, that discreet intui-
ton that points the way 20 wise and bene-
fetal diplomatic achievement. that profound
wisdom based upon historical knowledge Of
precedent in all matters relevant 10 the
welfare of the state or CT the nation: and
above all else. that imperishabe patriotism
and lofty sense of public duty that lifts
the man far above the communicating touch
of the times. and renders him irnpervfous
TO the attacks of the Ieg,ons of monopoly
Such and such alone are the attributes that
produce craftsmanship. and such should be
the requisite equipment Of acceptable can
didates for the Federal Senate.
perusal, however, OF the list of candi-
dates proposed for that honor here in our
own state bids US pause. With one or two
exceptions they comprise d symposium of
mediocre abilities and of questionable mo
tives If the Senate of the United States
Is openly to become the star chamber of the
great corporate interests, let there be no
sI1bterfuge nor impairment masqueradinE.
In that event co away with half baked
proxies and send the principals them selves
TO Washington.
In the choice 10 be made let us hope that
ii may not to our discredit be inferred that
the Empire State is bankrupt TO men of
first class abilities-meu who have the ca
pacity TO measure nip To the traditions OF
the office. Let US hope TO salvation from
al unworthy choice. The future will avenge
a betrayal of the people.
G. w. AUSTIN
Brooklyn, y. Y, Dec I, 1910
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06

The enemies of Porfirio Diaz We're
recently proclaiming that he would
not he permitted TO enter upon his
eighth term of office as President of
Mexico. while even many of his friends
feared that such might be the case and
regretted that in any event the closing
wears of his administration seemed Ger
tain to be clouded 10y a grave uprising
of the people against his rule. That was
the aspect Of affairs ten days ago. Yet
last week the veteran statesman and
soldier was peacefully indicted into Of
fee for another constitutional term with
the good will and support Of the over
wheluling mass Of the Mexican nation,
and there is to-day q reinsurance of his
serving out his eighth period in the
Presidency with honor 10 himself and
profit TO the republic, subject only. "f
course to the inevitable vicissitudes To
which a man of more than eighty years
is increasingly subject.
1t is not necessary to agree with the
enthusiastic biographer who has pro
nounced President DiaZ the greatest
man whom the nineteenth century pro-
duced in order TO perceive that he is one
of the really great men Of the world
Otherwise he could not have done his
great work and could not stand where
be stands to-day. It cannot be denied.
either. that his career has been marked
by casional regrettable incidents, or at
least bv acts which are not commend
able from our point of view and which
could not be approved in our clrcum-
stances. The same may be said Of every
great ruler Not our point Of view and
our conditions, but those Of their OWN
lands and times provide the standard
by which such men are TO be judged,
and when thus measured Poriirio Diaz
is found TO be of heroic stature.
IL is some persons say, shocking
thing for one man TO have been PresI-
dent of Mexico for thirty years. But
what of the years before? In the fiffy-five
wears between 0'Donohue and DiaZ that
unhappy country had two Emperors,
Regent and fifty-two Presidents or Die
tators. and If there were three consecu-
tive wears in which the land WIS free
from civil war there is no record of the
fact If Mexico would not be orderly,
honest and progressive without the au-
focracy of DiaZ. then by all means IL
should have had that autocracy. That
government is best which best promotes
tire welfare of the people, and judged
by that rule the government Of Diaz Il
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
Il HlKsenlcH&.

ACADEMY OF MCSIC-s-Tile Ensign.
-SI-lfA NBR 49, su5eNiie.
u -2-s-Nau6evilie
-aSTOT-S-e0- The Aviator
1sEl.A Sos .-sa-Ths Cencert
57iJoJ sc2o-The Nest Esq
.-sTsOs DIV T-S- Macbeth.
CAST N<a-S.I;.--ise Came from Milwaukee
CEEC-zzE1-S -15-MotlleT.
TG-s:is-Rsffaes-
e .NoL0NIAIs-2-S-Na udeEi'ie
COMEnY-S- I5-ln Re Hanged II ! Do
r F-FTTEREON-S:a s-Tha Commuters.
leALNf - .;sl-Isa3sv Mine.
EMPIRE. i5-She-fock Holmes
tiAIETY-a.Jt- S-l5-Get Rich Quick Wallins-
fARRft-K-s -sa-The specified Band.
r GLOBE. aa-Is- AiEiOn-
RACkT-TT- -29-DaGy nUfaro-
sARiNERSTT-Tl' IS .Is-T Vaudeville
HERALD SQUARE-S.iS-The Girl and the
EIPPODRoAIE-.-s- International CUP
TsaIle1 OF Niaeara-The Earthquake
5ETnSON-S 50 Noso5y-'s Widow
IRVING PLACES -E.1-Das Atusiis INT emma oel,
( JcE w1BEit'S-s:I5-Alma Where DO You
ENfCErRBorETcR- Henry ~ Navarro
2 I.lKT-ET~1-- .l5-Tlse Country Bog.
III 7 t-I-I- sI-s.5U-Thc Importance Of Beins
1.rEsIC@SITvvo Women.
A AIEsSTIC S.,;'-Th. Blue Bird.
MANI ATTAIN OPERA HOT SE--3--s-Na nae-
+. NaniNF7 ErIIorT-S- s:aa-The Gambler
7IENDELSSoEEN -I-lonzaioy Quar-
NAz!Noz- ASST Madame Troubadour.
- NEW ANSTF-EIe AAI-S-1-.-sI Madame sherry
2 MN TWrATRF-S: Mar MsEdslenc
NEW VoRK-s 10 Naughty Marietta.
TslT'l- Bic S:l5-Isehccca OF Sunnyorooh
vrAFT.ACt-S-S .f:.-f5rtsin- y Polish
WEST ENDS -15-Tf1e summer WidoweTs
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06

bureau of which he is the head in
creased its output of fish and fish eggs
by per cent without any increase
whatever in the cost of operation over
the year before Certainly this is ''busi-
ness system of which the manager OF
any business might well be proud AS
for Mr.. Bowers, he makes no boasts, but
continues TO watch the leaks and stop
them UP, TO promote the efficiency of his
force and to compliment them on every
saving attained, while only the few
who read his annual report have any
opportunity to learn what he is accom-
plishing.
Comparatively few persons realize,
indeed, the valuable work performed by
the United States Fish Commission. al
though some conception of II may ne
gained from the fact that during the
last year it distributed over 3.2 2333 ,00o, 600
fish and eggs, made a number of val
liable surveys Of oyster beds, invest-
gated several serious diseases Of fishes
and made material progress in its efforts
TO establish an American sponge indus
try. The commission has, moreover,
the immediate charge of the Alaska fur
seal herd, which under its management
stands better chance of survival than
ever before. despite the fact that the
diplomatic negotiations by which it is
hoped to abolish that grave menace TO
the herd. pelagic sealing. have not yet
proved successful
The marked success of Commissioner
Bowers is interesting as we'll as praise
worthy. because il seems to support the
theory of many persons familiar with
the affairs of the federal government
that its scientific bureaus achieve the
best results when not intrIsted to the
supervision Of 2 scientist Those who hold
this view maintain that in the case of
most scientific bureaus they best thrive
when committed TO the care of a bust
ness man of ability and sound common
sense. who can conduct their admins
tration along business lines. while at
the same time he possesses sufficient
wisdom and breadth of view to facili-
tate in every proper way the scientific
work. which must. of course. be in
trusted to scientific experts.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
BAD INAUGURATION WEATHER.

To the Editor of The Tribune
Sir: The Inauguration of President OF
this great Republic Is an event important
enough 10 provide time more seasonahie
and suita Die than is the month of March
Of course an Inauguration in March may
not be brghted as that of 1893 by severe
blizzard; and it is possible that an inau-
guration occurring on, say, the last Thurs
day in April would he somewhat affected
by unpleasant weather. But at its worst
such an inclement day as that of March /,
1909. would not be possible: while at its
best later Inauguration would take place
amid conditions most encouraging 10 our
elected President and most comfortable TO
his assembled fellow citizens.
Our first national inauguration occurred
on April 30, 1882 and a return to an ap-
Proclamation of April 80 would be most
seasonabIe and sensible.
CHARLES MEYERS HOLMES
Boston Dec - 1910
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
From The Tribune Bureau-J


1yasbington Dec. 5-The President Te
.o,,,.d an official call from the committees
chosen by the two branches OF Congress I.
;nform him of the converting or the thilO
session of the s1st Congress. The commit.
..es consisted of Senators Culiom ahO
Money and Representatives Clark Ia"hes
- C,aIdsrbead They were acconpanleo
bv Colonel Ransdell. sergeant-at-aiiis %
the Senate
ca,a+or Bristow and Representatives
Mu-dock. Madison. Hayes and MOTIFS III
surreuts. conferred with the President
senator Briytow urged the appointments Oh
William c. Hook United States Judge VI
tho Eighth Circuit. to the Supreme CourI
and strongly opposed the selection OF JoIi
r. ror,ock United States District Judge ol
1ra,s.s Judges Walter H Sanborn and
r1-;,1is Van Deventer also OF the kish'n
c,irc,,tt have been recommended LOT aP-
,,o;,,,,nsnt IN the highest tribunal senator
c,,r,is Representative Campbell ana eN-
co1ernor Bailey called IN the interest Oh
Judge Pollock
fudge Oscar H Montgomery. of the Su-
nrerne Court Of Indiana, was urged loi
anno;utr,ent TO the Commerce Court Dy
Senator ShiveIy, Representatives CruIh-
narkar and Dixon Merrill Morris. or lndlali-
anoIis and c. c. McMuIIen, of Aurora. Inc
candidate of Senator Crawford Is Johh r.
Garland. United States District Judge u
South Dakota
Senator McCurnber and RepresentauNe
Hanna asked the President TO appoint
Charles Anidon United States DiStricl
.Tudge of North Dakota, to the commerce
Court
President Taft will be made meInDer Oh
the Military order of the Caraboa at tnelr
annual dinner at the New Willard on Jahu-
arv The invitation was presented to-udy
nv General c. F. Humphrey. Colonel w H.
Biddle and Captain John J. Knapp.
Among the White House callers were
Senators Penrose Brown. GuSgenhelni'
Jones. C1llberson, Kean, Crawford, McCun-
her Overnan. Depew. Briggs. Bacon
Young. Clark. TiIIman. Cullom and Money
Representatives Dixon, Olcott, Wash6urn'
Townsend, Taylor. Madison, Hanna MI
Cjearv Bingham Haner, Miller, Martin
C;ronna. Bennett and Humphrey, Assistant
Secretary Hilles. Judge Morrow Gefiei d.
Webster and c. c. Glover
The President and Mrs. Taft occupied d
box AT the BeIasco tonight 70 see Marie
cahiu in Judy Forgot" given under the
auspices of the Washington branch or the
National Junior Republic. With them were
Justice and Mrs. Hughes and Captain Butt
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
THE GET RICH QUTCK" CRAZE.

There is. said Charles Reade. nothing
so inscrutable as q fool. Especially. he
might have added the money-seeking
fool. Satan declared that all that a man
hath will he give for his life But there
are those who sacrifice even life itself -
the lust for wealth and particularly to
the craze for getting wealth QUICKLY
through processes which SAVIOR greatly oil
getting something for nothing. The work
which tha Postoffice Department is now
doing. in exposing and furnishing
swindliug enterprises which are operated
through the mails, is most commendable.
and is inspiring as an example or au-
minisrrative alertness and efficiency. but
some, of its revelations are depressing as
examnIes of almost incredible folly
fayorite scheme is to offer in small
shares at low price stock in some con
Germ which is said TO be certain to pay
enormous profits A gold mine company,
with fifty millions of ore in sight. pre-
tends to be seeking only hundred
Thousand dollars capital. Does 1t never
ocrur 10 The dupes that if the conditions
5ascrii,ad in the circulars We're true
there would be no need of begging Tor
Subscriptions. but that capitalists would
no eagerlv offering all that was needed
And whence do they derive that amazing
creIulitv which credits the owners of
.sucb purse of Fortunatus with the
oltruism which would invite the whole
world in TO a share of the proceeds! TO
say that there are millions in sight ana
that thousands are being taken out every
dav. hut that the concern Is III need OF
ready money and therefore offers stock
at low rates to the general public. sug-
rests either that the managers CT 1t are
fools or that they think the public are
fools.
There are doubtless many opportunl-
ties for safe and profitable investments,
in industrial and other enterprises.
There have been some examples OF very
large profits from very small invest
ments. and there will be others. But 1t
is a safe rule to follow that something
is not to be got for nothing. and 1t Is
nrudent policy for prospective investors
TO LET their incredulity and skep1lclsm
increase directly rs the square or Inc
Dromised profits.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
CHILDS' WELFARE EXHIBIT
Association Completes Plans, but Needs
$4,000 to Execute Them.

With over 5000 square feet of exhibition
space filled with photographs. models
charts and living demonstrations. the
Child Welfare Exhibit, which is TO con-
tnue for four weeks. will open january
Is. in the list Regiment Arrnory- The ex-
hibit will have the cooperation OF
churches. settlements. various municipaI
departments and scores of societies and
organizations.
Among the features will he a furnished
fat to cost 500. and yet be artistic and
suited to child's needs. showing the
food child should eat. the books il will
Ike and should read. and the toys that
are good for it, and could be made at
home Fifty thousand dollars has been
obtained, but 1t is estimated that il will
cost at least $4,000 10 complete the work
Ine association, therefore, appeals TO all
interested IN children To contribute the
necessary $1,000 Ali checks should be
made payable to George K Ide treasurer
No. 90 Broadway
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
CONGRESS- " SESSION.

Short sessions Of Congress are pro-
verbally not fruitful IN important leg
fsla1ion. and the present one will prob
shiv be no exception 10 the rule. An
additional circumstance which makes
she massage Of much important leglsia-
non i-oprobabie is the fact that several
cf the greater questions are now in the
hands of commissions for investga-
-1cn- The tariff Is one of these. Ii is
not known whether or not the Tariff
Com mission viii be ready 10 report upon
some schedule or schedules this winter;
7,yIr Y II should do so. the short session
i not an auspicious time to secure i'm
r5ortanf tariff legislation Currency re-
form is also in the hands Of q commits
sion. which is understood not TO be
ready 10 report The question Of regu-
1aring the stock and bond issues Of
railroads. left over from last session, is
also being studied by a commission,
which has Just begun its investigation.
The subject viii hardly come before
Congress AT this session
There are other topics Of Importance
svliich are not thus tied up. as, for
example. the proposed regulation by
statute OF the issuing of injunctions by
federal courts Such measure was
called fo- by the last Republican plat
form. and President Taft urged ii upon
Congress at the last session. The sub
iact has been before Congress for a long
time. and opinion upon it should be
rrettv definitely formed by this time
The suggested legislation is moderate
in It's character. merely prescribing by
statute what is the usual practice OF the
courts. If there is a concentrated ef-
FORT 10 put this through during the
,,resel!t session il is likely 10 be sue
s-essfuI
Another important matter which viii
a.. brought 10 the front again by the re-
port, Of the BaIlinger-Pinchot investi-
rating committee IS conservation. That
rewever. Is subject about which great
sljversifv of opinion exists. and ii Is
rs.cha bic that the country Is still far
fr<,n seeing comprehensive legislation
enaefed. Piecemeal action applying 10
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-06
BUSINESS SYSTEM.

In these days when so much atteh-
ton is being paid TO business system
and scientific management it is pleas
ure To note the business system ana
scientific management which prevail III
Mt least one important bureau OF the
national government. a year ago we ma
the pleasure of commencing the work Oh
George NJ Bowers, Commissioner or
Fisheries, who during the several years
of his regime had reduced the cost OF
producing and distributing nsh Try
from 1913 rs n million to s15o a million.
This year it is Commissioner Bowers
privilege to record another material re-
ductIon. During the last fiscal year Inc