New-York tribune., 1920-10-15

whcle have not cooperated with nusi-
ness As they should II is because he
does not fully appreciate the funds-
mentale involved"
While the American credit structure
was highly expanded, he sajd the vol
urne of gold had shrunk, and it had be-
come advisable for the banks to con
serve their positions with the ptmost
care. He regarded this as the best
service the banks could render to bust
ness. for weakened banks would have
meant disaster">
The peak Of credi, expansion must
soon pass" he predicted, but he fore
saw that there must be established
stable price levels so that business
could be conducted on the basis Of CON
tident judgment rather than Of guess
and speculation.' There also must be
adequate production. AND credit should
be conserved so that there would be
ample funds for longtime investment
for railroad building and repair and
for housing construction, Mr.. Alex
ander said
Latin n-American business Poor
Business in Latin America mas not
expanded as was expected. DR.. /. s.
American Union. declared. He said
to invest in South America, but until
they Do so invest they never will
acquire permanent foothold there.
Alba B Johnson. president 81 the
rhiladelphis Chamber Of Commerce.
urged that business men help put the
railroads on 4 SOUND financial basis,
SO tina. they NAV. be built nr 70 TAX.
care Of the country's trade Al pres
ent. be said. the railroads we're per
mit,ed 70 earn per cent. whereas
they are unable to obtain new capital
at less than 7~or per cent, while
some Of the most powerful govern
ment. of the world sre paying ~ high
as per cent"
Otto H. Kahn delivered short ad
dress. He charged that the inequeh
ties Of the present system Of taxation
were derlorahie, and added that as a re
suit Of the system the people were
suffering economic unrest Of danger
Gus klnd
At the banquet later held st the
Waldorf, William c. Redfsld. former
Secretary Of Commerce, who was elect
e6 president of the association. urged
he Importance IF American marufac-
.urcr. establishing hases N all NY
portart foreign countries 70 create A
demand for Am products Dur
ING the last six months ne sad. two
rlc opportunities nad seen presented
70 hir> for building " foreign t-sde,
but he had locked n vsin fo, any
business house N Ner York whose
duties CT desires we're to take NJ these
opportunities.
Other speakers we're DR.. r s. Mac
Elwee. director Of the Bureau Of For
eign and Domestic Commerce; 3. G..
Forbes, editor Of Forbes Magazine;
! I.,.t =
States wheat director; Alfred Reeves.
manager Of the Nationsl Automobile
Chan1ber Of Commerce: DR.. Charles 4.
Eaton associate editor Of Leslie f
Weekly. and ". L. Saunders, retiring
president nj the association. William
\. lrgersoll wss made treasurer Of the
association, and A. ". Wilmsnn, sec
retarv.
tives Of Prohibition Agent Boyd Of .his
city. it was declared Al Ny. Hovd ;
nfhce Yest >riay. The plans TOR the
raid. II was declared, are the result q
-he seizure Of Se 600 worth of liquor
from 2 -ruck ostensih.v oaded with
hsh and spotted Nv prohibition enforce
ment agents on 4 Cort lannt Street ferry
boat
Twenty barrels Of California VINE.
valued 81 $500 3 barrel. were seized.
'rhe agents followed the truck from
Jersey City. 1t was driven by Domi-
inico di Gulmi. of o434 t,an,orellne
Avenue, the Bronx. John j. Qnigley.
aid TO Mr. Boyd, refused to disclose
me place from which the LIQUOR was
shipped. The government agents fol-
lowed the truck until II dreo un oefore
me hsh market Of Il Br1cnman. 20
Ludlow Street
When the truck halted, Noe Smith,
who headed +he squad ot goverrm en-
agents. compelled the driver to dis
close its contents ne liquor was
concealed beneath nsx- - fsh ana
zee. Late. Smith .alt. that the llqucr
rad been sent through the American
Express COMPANY snr ms. II cane
from Canada Both IL Gulmi snd
Brickman were questioned hy Mr.
Boyd, but neither was held
Another raid made Yesterday nv
United States agents was upon the
wholesale grocery establishment Of
Simon strauss, 1850 Street and Colun-
bus Avenue There a thirty ga Hon
srlll, barrel Of sherry wine. r barre
Of whisky. several 6emiiohns Of
whisky. manv bottles ~ bonded whlskv
and 2.nno emptv hotfies were seized.
Strans: formerly was VII olesale liquor
dse1er Tbs rad came after ne hsa
sold 81 agent Of the prohibition err
forcement o#ce n,nt &c Vn,sku fcv