davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
NEW CANADIAN CAR DEFICIT.
Fronts Fail to Equal bond Interest
and Depreciation.

The report Of tn" Canadian Car and
Foundry Company. Limited. for the year
ended September 80. 1915. shows deficit
amounting 10 t55>.t1I. after payment
q bond interest and provision Tor de-
preciation and renewals. Combined
profits after maintenance and renewal
" plant and equipment were S32l.s39.
Provisions for depreciation and renewal
we're s32a.N0o,
The combined surplus 81 the conf
vany and It's subsidiar ies On September
80, 1914. was sl,s32.2s9, After making
provisions for the deficit last year the
surplus amounted To sl.073,1aS on Sep
,,mber 30, 1915. The combined output
Of the company and It's associated com
lanies for the fiscal year was 50 ,500.n goo,
ar compared with &l1,lo0. 900 in the pre-
g. ding year. In 1913 II amounted Ia
s27 .00o. no0. The report says in part:
THE depression in general commercial
business mentioned in the last annual re-
port continued throughout the fiscal
year ended September. 1915. Business
from Canadian railways Tor equipment
and supplies during in" war period has
been negligible. in consequence, largely.
OF the high cost of labor and materials
caused by the demand for war muni-
tons and, although some foreign equip
ment orders have been obtained, they
have not been sufficient to keep the
plants ~ the company fully occupied"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
EDITOR UP ON LIBEL CHARGE.
TYust Company Denies HunGarian
Papers ACCUSE tiOns.

Martin Hinler. editor OF a Hungarian
weekly newspaper. Amcrikdi Mn0yarsog.
printed at clt East Thirteenth street.
was a%rraiRned in Essex Market court
yesterday on a charge of criminal libel
made by Julius Panther. president OF the
Transatlantic Trust Company, Or. Per
nitzer asserts that the standing Of hi.
company has been materially damaged
by articles attacking its policies.
The specific complaint Is based upon
one article headed THE Bloody Millions
OF the Transatlantic Trust Company
The article charges that while le trust
company. which IL the unofficial repre-
sentative OF Au~stria-fIur AIRY in this
country. is supposed to bc looking out
for the interests Of those two countries,
many OF it's directors are also directors
In banking institutions which are actively
engaged In buying supplies for the Allies.
he story charges that the trust com
pary has been raising the rates of money
exchange n transmission and thereby
caused much additional ha rdship to those
poor Austrians and H%ungarians who
wish TO send relief money home.
After a partial hearing, during which
Magistrate Krotel declared the article
libellous unless strong proof Of the state
ments could be obtained. the hearing
va adjourned till June I in the Harlem
court.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27

Baldwin Locomotive and Crucible Steel
we're tn" two most prominent issues In tho
war group" on the Consolidated stock
Exchange Yesterday. The rrst named
opened at 9oS, unchanged from Thurs
and then declined to ssA. closing AT $751;.
crueible opened AT $50, which was u OF
q. point above It's closing on Thursday, but
that was It's highe8t and It aferward got
down to. SAN. II closed, however. at S5i,
United states steel common opened at
point, and early sold at s6i.. but IL then
reacted to Sah. closing NJ s5l:
Further realizing was reflected In Inter
national Mercantile Marine preferred.
which opened at NJ. down y OF a point.
and AFTER selling At AJAX declined t"ogiT.
closing ut 80. United states Rubber was
prominent among tho lower priced indus.
trials am, displayed exceptional f-mness.
u opened at HS up =. Of a point over.
night, and later or sold es h.:s :: ss.
hut II closed at 5Gk,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
JAPAN GETS SHIPS HERE.
rays $4,000. 900 for Two Vessels
Once Of PaciAc Natl Fleet.

Announcement was made yesterday
Of the sale by the international Mercan-
tile Marine Company OF the Korea and
Siberia. two Of the Ave ships purchased
from the Pacific Mall Steamship COM
pany last August. TO the Togo kisen
kaisha OF Jepan for operation in the
~'rnnspacinc service. The price for the
two ships. IL IL understood, was $4,000
800. which represents a proht OF about
100 per cent. 10 the Mercantile Marine
Company on the transaction.
The sale OF the Ave largest ships Of
the Pacific Mail neet-the Manchuria.
Mongolia. Korea. Siberia and Climate
the Atlantic Transport Company. a sub
sldiary OF Mercantile Marine. was an.
nounced on August IS last. The price
raid for the hve hip was Is. $50. 900.
The china. the smallest of the Ave. was
resold almost Immediately for the
chinese service. while the other four
were brought to the Atlantic n have
been used in the transatlantic trade.
/. was said yesterday that there had
been NJ particular intention OF selling
the Korea and Siberia. but that they had
happened 10 be exactly what the Jap
! arese compan wanted. and an offer had
been made for them. SO far as lie
known. the Mongolia and Ma1chur.a VII
continue on the Atlantic. The Korea
and siter,a are each $50 feet iona and
~ $4,000 tons displacement. They have
accommodations for $50 cabin. 100 sec.
ond class and $50 s,eerase passengers.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27

Paul schleIch Motion denied with 80
costs. order Mes
Agnes CAREY Sc. Midland Beach co o,
al. Motion denied with 80 costs. order
fled.
Hymar Waks. lai. an infant. Sc. vs.
David Wass.r. morton granted. SettIe or
der on notice.
Charlcs Ait.chuaIer vs. Maurice Brewer.
Motion granted r',t'' order on notice
count jean kr,s,kitN -. Universal Tool
s.eel co. ldi, Notion granted. settle or
der on notice.
The people, g.. -. Ralph Guarano. Mo.
lion granted. Sc e order on notice.
George a ColNH " Posi- Mortgage &
Land Go. Motion denied with $40 cost.
settle order on n"''c.
Wtiburga g. M'Nrl W charles 4 M.Iynl
ct al. Motion deaIeI with iio costs. Or.
der fled.
Matter Of SUPER 'ui"ut ~ Banks. Sc
Matter of clifford. Uphts & Reard Motion
granted. settle % .'r on notice.
Anna T. Nih.i 3D. rs administrator
Is Sew York Railways "a. Motion
sranteI. settle o-der on no',oc.
Urauower Il SOY, Inc. -. Henry WaiI.s
.; al Motion granted. settle order on
notice.
Nation denied. order filed.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
CUNARD LINE TO Be
GIANT OF The SEAS
Merger With Commonwealth
and Dominion Gives Pow
erful World Control.

C~ablegrams from London announce the
closing Of preliminary NEGOTIATIONS for
q merger which will extend the sphere
OF influence Of the Cunard Company TO
Australia and New Zealand. This Is an
amalgamation with the Commonwealth
m Dominion Line. operating about
twenty-five ships. Announcement OF the
step following so noon after the recent
agreement with the Canadian Northern
Is taken as indication that the Cunard
Company IL organizing a powerful con.
troll OF shipping with which to enter the
struggle for world trade following the
war.
The completion Of the merger will
place Cunard ships on all the important
trade routes OF the world with the eS-
ceptlon Of the Pacific and South America.
The Cunard line proper has services be-
tween New York. Boston and Montreal.
and Liverpool. London. Falmouth and
the Mediterranean Through the Anoho
Linz Il touches GLASGOW. the Mediterra-
mean. Africa and india and through the
Canadian Northern operates between
Montreal and Avonmouth.
A rumor IL current In London that
negotiations are under way for an agree.
ment with the Royal Mail steam Packet
Company. which would give Il South
American and West Indian services. but
this Ia generally discredIted by shipping
men here.
To finance the new amalgamation
shareholders Of the Cunard will he asked
TO sanction an Increase In the capital!sa-
lion. which IL now f1.83S.1ls 0?.i93.-
$3.50.
Special interest Is manifested In the
announcement OF the merger In local
shipping circles IN connection with the
recent rumors tina, the British Govern
ment was taking a hand In the reor-
gsnization Of the International Mercan-
tile Marine Company.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
SEES GREAT FIELD FOR
U. S. CARS IN EUROPE
Harry Ford Of Saxon Motor
Company Says Big Market
Is Certain.

The present unusual demand for auto
mobiles which IL enabling many corr
Germs 10 show an increase OF 100 per
cent. In sales over last year is but tine
beginning OF "A worldwide Doom OF
American cars. in the opinion of Harry
Ford. president OF the Saxon Motor Conn
pany OF Detroit. who was In the city
yesterday for a few hours. He says the
war has opened the eyes Of American
manufacturers to the possibilities Of .he
foreign market. and that connections
they have made In Europe surely will he
continued after peace comes. This ap-
piled. he said. 20 manufacturers of gem
eral goods AZ well as automobiles.
ON a recent trip through this coun-
t;y Mr.. Ford found a general prosperity
that exceeds eve the business corpli
tons just prior TO 1907. The causes. he
believes. are the two years ~ good crops
II look for much bigger things" he
continued. 'becauer we have only Just
discovered the possibilities OF our for.
eign market. The war simply forced u
10 go out after the fQHeien trade in dead
earnest. Manufactures who had never
touched IL before the war began now
have men abroad constarsly opening NJ
new lines OF trade. The ambitious an
extensive plans that lave been made
cannot be suddenly dropped when ths
war ends.
American manufacturers are bound
10 e.; the largest shave OF the automobil
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
BOOKSELLER WINS ON APPEAL.
Publication woman Sold Artists
Found Not to he Indecent.

The Appellate Division reversed yes
tsrdav "A verdict Of the Court of Special
sessions finding Mrs. Veronica Meyer
Murch guilty Of having an alleged in
decent book IN her possession in n store
a, III East Twenty-eighth street, in
which She sells French periodicals. Sen
toncc was suspended In the case in Spe-
cal Sessions, but tn. higher court ruled
that the defendant should not have been
convicted.
Tie defendant test fed that she bought
copies Of tho book to sell to artists,
hut tldt they did not take them all and
tho remaining copies were put on public
sale. Justice Fleming, who disscnted
from III" Other two Specia! Sessions Jus
Nc"s. said h" had pictures in his own
l"ine similar 10 those in the books sold
by the defendant and that you might
almost say they protect me from evil
thoughts instead of leading me into
them. II Is the human form divine"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
STRIKES AT TALL BUILDINGS.
Urges Limiting Height in address
at Charities Conference.

limiting the height Of buildings and
tho purposes COY which they hall he
used was advocated lat night ny George
McAnery at the evening session 81 the
seventh New York city conference -
charities and correction. Such control,
said Mr.. M'.tUeny, would relieve con-
g"st!nn and work for community welfare
both physically and morally.
IN his address On The Gary pan
90 an lmportau; Factor in Solving the
Rccreatioual Problem OF children" John
Martin 81 IA. Board of Education urged
thai CITY official. 30 plan the construction
OF neN recreation facilities that they
Will carr, q continuous ma ximum load.
Social service worh among families
was tho general subject discussed At
tho afteruo u session Of the conference.
After tho business meeting the report
Of III" committee on families was read
hN the chairman, br. Thomas J, Riley
~ the Brooklyn Bureau of Charities.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
UNION PACIFIC UPBUILDs LINE.
VIII Make kansas-Denver Road
EauaI to Omaha.Ogden.

Tie officers Of the Union Pacific sys-
TEN haye agreed to IN expenditure Of
sl.o0".0o0 for improvements on the
Kansas-Tcnver line, One Of the items
Of the expenditure. $500. 600. will be for
the ballasting of the line between Oakley
and Ellis. seventy-four miles. with Sher-
man granite, This will complete tile
ha,lastlng Of the line between Kansas
city and Limon, Col, $50 miles. The re-
laying OF the entire system from Kan
sds City to the Colorado terminals with
ninety pound rail will cost 5000. 900
New steel bridges will also he installed
at a COS; OF sic5.000. Electrical block
signals. completing the system, will cos,
$4,000.
In connection with the announcement
Of tine expenditure II was said that the
completion OF the work would place the
line. which has been undergoing i'm.
provements for several years on a par
with the Omaha-Ogden route OF the
system.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
ORDERS SIX NEW OIL SHIPS.
Pa a.. 4 ~ rican company 20 Increase
Tank Fleet.

1, was reported in the financial dis.
;r'ci yesterday hat the Pan-American
Petroleum and Transport Company had
contracted for six additional tank steam.
.rs. Two OF these. II was said. are OF
5000 barrel capacity and will he built
by the Fore River Shipbuilding Com
nan Three will he OF 10000 barrel
capacity and one Of $4,000 barre!
c~,psc.ty. Three OF these will he con-
s'ruc:nd by the Union Iron Works in
san Francisco and n by Moore & Scott
OF san Francisco.
II was announced by the company
tina, the Mexican Petroleum Company
had closet two large contracts. One OF
the contracts is for I1.2jo.o0o barrels OF
petroleum for delivery at Tampi,o.
Mexico. over a period from April 1. 1917.
to July |. 1911. The other contract IL
for distlliate or tops. also for delivery
at Tampico and covers all that the com
pany can produce in excess OF 10000
bari els per month.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
APPELLATE COURT DECISIONS
Complete List Handed Down h,
First Department Division.

The following decisions were handed
down yesterday 10y the Appellate Di-
vision, First department
The Central Railroad Of New Jersey,
appellant, vs.. IN" city Of New York. re-
spondent, judgment affirmed with costs.
No opinion. order nlcd.
sidney Blumenthal, &c, Co, respondent,
VS.. Bernard Rldow ct al, appeilu ntr.
Judgments ana order affirmed With costs.
No opinion. order flcd
Mary StoyanoNiva, respondent, w, Ehling
Realty Company, appellant. Judgment
and order reversed ANA new trial ordered
with costs to appellant TO abide event.
Opinion per curtain. ,bowling. j. dis.
%..ntIns and voting for afhrmanceI order
Med.
Ad"'. J.. st'ef.l, appellant w Benjamin
W, Slirfel. respondent, Order affirmed
Without costs, No opinion. Order Med.
s.Nr 4, ~in..hurr se GomcP, Ar,, an
complain, Of Mary Brady. respondent. W.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
KAP0 COMPANY IN CONTROL.
Takes Hold of Life ssvins Garment
Enterprise.

Announcement was made Yesterday
the kapo Manufacturing Company
has acquired the business of the Ameri-
can Life Saving Garment Company OF
Boston, which manufactures clothing
and mattresses that have as y base
"KaDok.' n hbrous substance grown on
the island OF Java, 1t II n buoyant sub
stance and IL used in garmen's that are
Ges'rued to take the place Of life belts
Treasury stock to the amount OF 100
600 shares is being offered to the putslc
tor The purpose OF developing the COM
Isny's BUSINESS, Carroll, Fcltcr e. 20.
rave issued a circular about the com.
pany,
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
WALL STREET VS.. SING SING.
stock ExchanGe Baseball Mine Go
Ing 20 Prison Tomorrow.

some 80 employees Of the New York
Stock Exchange. including nine who
make up the regular baseball team. will
travel to ossining tomorrow for the
second annual game with the inmstes'
team at Sing Sing prison Tie expenses
~ the trip are met hy contributions from
members ~ the exchange under the lead
ership OF John NJ shaw,
Last year. when the plan was hrst
tried. the Stock Exchange nine was
beaten by the convicts by one rum. This
year the team has been practising for
more than a month and has defeated
DE Witt Clinton High School in a prac-
tice game. Philip Miller Is manager.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27

"One cannot see these iourishing cap
itals OF South America. four of which
the commission yisitel-all being cities
having Inhabitants ~ about "a half a
million to a million and a h~alf-without
being impressed with the faot that these
modern communities contain the same
component factors OF ricn ana poor and
middle classes a. do our own cities.
THE real situation IN South America
a. it impressed itself upon every mem
Der of the high commission Is that a
large. almost unlimited field Of invest
nent snd commercial expansion pre-
s.nts itself to the Tinted States, but
tho possibilities cannot 10 made resli-
ties without a concerted effort on the
part ~ the American merchants. man
ufacturers and hna nciers.
The opportunity exists and the only
question ~ whether our vision is SUI
fCiently broad and our commercial and
financial organization and spirit of en-
terprise ARE adequate TO avail ourselves
ri the opportunity
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27

Announcement was made Yesterday at
The offices or y y. Bush, receiver Of the
Missouri racine and Iron Mountain rail-
ROADS. that suit had been Instituted in
the United states Distric, Court NJ
Shreveport, La, against the Texas and
Fa'iflr Railway company, asking for
III" appointment of a receiver. Suit was
previously brought I'm tho Fcdc"nl court
a. Dallas. which the Supreme court held
TO ho without Jurisdiction, As the court
al Shreveport adjourns to-day for tho
summer, III" suit VIII not be heard until
fall.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
CURB PLAN HALTS IN
FACE OF OPPOSITION
Objection by 81 Stock Ex.
change Houses to Proposed
Moving Indoors.
NEW STUDY or CHANGE

The eleventh hour opposition on the
part of a large number Of Stock En-
, change firms to the plan Of reorganiza-
ton of the New York curb Market As
ISOLATION. which provides for the moving
81 the outside market indoors. has caused
the special committee which prepared
the plan 20 postpone indefinitely the
steps 10 make the change.
A printed circular sent to IN 'mbers
OF the curb Market Association yes;er-
day bore the names Of ffty-one Stock
i:xchangr houses II follows;
The following Now York stock En-
change Arms. either controlling or trans
acting a large volume OF business on
the curb. hereby express themselves as
onposed TO the plan OF May is. and re-
quest tt shall not be put in force:
Foster & Lounsbery. Charles n. Bar-
ney & Co. ]. $. Bache & Co. McGraw.
Blagden & Draper. Batcheller 4 .Adee.
Flor Billiard n Smyth. Wrenn Bros. 4
CO.. Z. r. Hutton 4 co. John Muir
& CO.. Prince & Whitley. Raymond. ryn-
chon a Co.. Raymond, Starr & 60. l..
& T. Srhafer. Taylor. Bates & Co, II.
NJ Nh.tne! & Sons. Dominlck Bros. &
co. y. Y. Frost & Co. Henry Clews &
90. J VI Leopold & Co. Ehrich 4
prey fus. Ray a Win riding. BAbcock.
'NANlI|'Nl " 10 a. ' n VI
tee. II. Content q Co, Aho,t. Johnson
& 60. s. u Chaplin d co. Pennington.
'uiket n 90 Trippe Il co. Auchircloss.
Joost & Co. McCurdy. Henderson & Co,
Morrison & Townsend a Co. Marhoe.
Morgan & Co. Clark, Childs 4 Co. iiar-
ris Winthrop & Co.. ". ~. Gosdby &
60. Shearson. Hammill & co. Crawford.
Patton a cannon. II. J Kimball & Co.
Fred Edey & co. kcau. Taylor & CO.
Butter, Herrick & Kip. Eastman. Dillon
Il 60. HOLSTER. Lyon e. Walton, J. l..
Graham a. 60, J~osephthal. I~.ouchheim
& co y. 4 G. Randolph, Moore. Leonard
6 Lynch. Jackson n Curtis. King. Far.
mum a 90. Hornblower 4 Weeks and
Williamson e. squire"
This and Observation-Disclosures among
N. curb brokers caused Chairman y. L.
Mccormick 81 the special committee ~
the curb Market Association to send
the following letter to members of the
association:
The open vote or the REORGANIZATION
Of the New YORK curb Market Associa-
lion Showed on Friday. May ss. 1916.
at 3 y. NJ the following result 2ls
for. % against. With one blank ballot
and one defective ballot and &c not yot-
ing.
lin view OF the unsatisfactory vote.
tho signed opposition on the part OF
ffty-one New York stock Exchange
firms. and other Observation-Disclosures. al
thni.b majority az the rNemb.r Of
vnur .ssori,iinu have voted in the
,sru,,iye vour bn,rd deems 4, unvtse
:, der;,r. rho nl,p nner,,ive.
.yo,r s,.ci,I co,rrl,,e. N, reorvani.
,o.,r M, ,r,oi,,.d by ,our ho.rl N
d., -, !. ni,, ~ r.ory,rt,a,io, witch
would eliminate certain fundamental Ills
that mo be stopped IN a free for all
80, .,ra,,s of nur ,.rh.rs a,d .r
,.,aa ra,,a b.. ,o,..ry.a 90 III. crd
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27

The Appellate DIVISION ~ the Supreme
Court In Brooklyn yesterday upheld the
judgment for $4,000 given In favor
Of the failed Union Rank against the
estate Of Fritz Augustus Heinze by
Justice Kelly. The sum represents the
result Of stock deals between Helnze.
who died In November. 1914. and David
A.. Sullivan, former president of the
bank.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
COTTONsEED OIL.

Supporting orders were noted In the
market for a time and values rose ! 10 10
point, but these gains were not fully hold.
III" decline r. the lard list was ngn,ns,
tho market, a. wer" The generally favor
able cotton crop conditions. R.hnsr. gem
orally r. ported, however. tha' Their. wus
no distinct selling prevsurr ia new crop
oil, although h was believed thar coLtIuurI
faNorah." weather through the south would
load 20 freCr offerings. Consuming DO
maud for cotton al! Is Of n hand TO mouth
character.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
MIR

WANTED - BY 4 LARGE
CIGAR MANUFACTURING CON-
Germ. SALES MANAGER TO d.
RECT ADVERTISING AND SALES
PROMOTION WORK. MUST BE
EXPERIENCED IN CIGAR FIELD.
ONLY MAN OF UNQUESTIONED
ABILITY WITH HIGH CLASS
REFERENCES NEED APPLY.
CORRESPONDENCE STRICTLY
CONFIDENTIAL.
ADDRESS l.. S., BOX l42 sun.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
SOUTH AMERICA Is
Ell DORADO, M'ADO0
Latin American Republics an
Alluring Field. Says the
Secretary.
OPPORTUNITY Is THERE

wAsHiNGToH. May 26.-secretary Nc
Adpo gave out tonight a statement set
ting forth MS high estimate q the imam
cial and commercial strength or the
SpYtl American countries recently VS.
itcd b him as a member OF the Inter-
nat pi..l High Commission. The an
rouucement was drawn forth by a state.
urnt recently published TO the effect that
IT, International High Commission re-
es'.ed South America as a relatively
uu.I. or:ant factor IN the m OF
tnr United States.
"The United states section OF the In
to national High Commission found con-
di;.oas IN South America just the
reverse of this 9 atement, says the Nc
.tloo statement. and returned TO the
LATED states deeply impressed with the
possibilities for South American develop
wsf; and the opportunity for American
,a,i..l. Secretary McAdoo expressed
Us deep regret that such untrue and
harmful publications hould be made.
Among other things the article con-
tanned the statement that south Amer
ia j. poverty stricken, Nothing could
&c. further from the facts. South Amer
i.t Is . who'll. is pursuing the gigantic
task 81 developing the natural resources
~ ilt continent WIN uisui pdsrca NiBoi,
wisdom and patience. and the results OF
toe efforts Of her people 20 develop the
Agricultural and mineral wealth OF their
land have been most inspiring.
Nrgentinn's Wealth.
"iIow can any one talk OF a poverty
p ken South America in the face OF
to remarkable figures available in any
tifciaI publication? During the year
1915 the value Of the total Argentine
production was officially circulated at
Si.ili.225.o 0o tgoidb. Argentina's for
.gn trade credit balance in 1914 In
creased by 5000. 600. 900 tgold). She has
a per capita gold reserve of &53.++. as
compared with our OWE per capita cur
r.ncy of gold Of $?215. This 70 only
c.icd ~ an illustration.
nor could anything be further from
the truth than to say that the great
wealth Of Argentina. Brazil or Chile IL
deposited in the hands of a few great
Iuliu. families. Just as was the case
"a the development OF our own west
has the pioneer work been done by the
small proprietor farmer.
Nothing could be more m~isleadins
than the statement that there Is no mid
die class In the Latin American repub'
lies, among whom extensive markets fol
manufactured goods can be maintained
The briefest possible visit to any OF th'
South American capitals or to th'
provincial cities and farming countrie,
vii convince the most scepticsl tina
there exists in South America a mos
substantial middle class.