Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1917-01-21
CURRENT EVENTS

to aid the dc facto government OF
Mexico. This commission receives
gold in payment for the sisal but pays
Mexican growers in paper money.
Edward n. Hurley, chairman of the
federal trade commission mas resigned
to take effect February l. He will be
succeeded by Commissioner Harris.
Mr. Hurley was appointed to the
commission as a representative OF
business. His most notable work has
been the devising of a uniform sys-
TEN. of accounting Tor merchants and
manufacturers. He holds that Amer
lean industries suffer great losses be-
cause the smaller houses do not have
adequate cost systems.
National Board of Fire Underwriters
has found that 21.7%o of all fires oc-
curing in New York State during
1915 were of a strictly preventable
class; 31.9% Of the losses cameron
partly prevcntable causes and 46.4R
from unknown causes.
Wall Street: Hr. Henry Clews re-
Gently made an address on the subject
of wall Street. the Pulse of the Ma
ton" He SAID in part: Speculation
is a science. There is n great diff
ference between o gambler and a
Spectator. Speculation requires judg-
ment and knowledge based on the
complex relations which enter into
values such as the matter of supply
and demand, the weather, politics, etc.
In speculating one forecasts the future
by study of the past He discounts
probabilities that link with possibili-
ties.
Wall Street. with what it represents,
is a healthy stimulant to the business
of the country. 1t is financial baro-
meter. 1t is a center to which the
country looks for the establishment
of values. The notion of wickedness
in Wall Street is related to the rural
notion Of the wickedness of cities
American Forestry association which
will meet in Washington the latter
part of this month will devote pare
tically all it's time to discussion of
ways and means of supFressing the
white pine blister with view of saving
the nations white pine from eXtermin-
alton.
Cotton Mill operators in Texas are
irving to interest firms in their res
pective localities in growing soy beans.
These mills propose to utilize the
product for manufacturing oil and by
products in the same manner that
cotton seed ard peanuts are treated.
open Price Associations: During
1916 many such association were
formed UPON the basic theory that
these associations should deal only
with prices and transactions that have
passed One difficulty with the theory
is that business men want to deal
with future conditions. Some of these
associations have been formed for the
purpose OF teaching memters how
| they may adjust themselves to the
! provisions of the Federal T'ade COM
mission act and the Clayton act. Some
,f
| siderable attention to the question of
| cost accounting. Some of the associa-
| tons which started as open price as
| ociations have developed into organ
izations for controlling prices rather
| than TO study how prices have oper-
| ated in a competitive sense.
Japan has notified the United
| States department of state of her in
tention to arm her merchantmen for
| defensive purposes. She inquiries
whether the United States has any
| special rules regulating the passage
of vessels so armed through the Pam
anna canal. The intention of Japan is
| interpreted in some circles as indica-
! tive of fear of German submarine
operations on q larger scale than has
| hithertofore been attempted
Turkey has addressed a note to the
| Various European governments and to
the United States declaring her in
dependence of the sozerainty of Great
| Britain, France, Italy, Russia Ger
many and Austria Hungary. In de-
clarins her freedom. Turkey contends
that the treaty of Paris of 1856 and
that of Berlin of 1873 which made
the great powers her suzerains are
henceforth null and void. The note
also states that the Turkish govern
ment is On footing of entire equali-