davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1920-01-29
New Says u. S.
Has Been Shorn
OF Air Defense
Need of Department Shown
by Rapidity With Which
Eliers, Planes and Aerial
Equipment HaveVanished
Could Not Fight Mexico
$40, 900, 900 Sale of Aero
Craft by England to
Japan Is Revealed
Ner forn T,sJstne
N1vLs,,f

Fashinctor Bu,eeu
WASHINGTON, Jan. %. That the
dissipation OF all the vast energies this
ration turned to the making Of a:rcraft
during the war has been SO rapia that
to-day it is only & ger cent Of the peak
1T attained at armistice time was de-
c!ared by Senator New, Of Indiana in a
speech to-day to be the best illustration
OF the neeu for department. Of aero
rautics, such as is proposed in bill
he has introduced.
The Senator said the program
brought forward by the War Depart
ment when this nation entered the war
was absurd; that about ten types Of
machines were undertaken, but that
when ihe war ended production vas
up TO about 10000 machines a year
made in twenty-five different factories.
and the army had $4,000 trained fiers
All thls,' he went on, "is dissirated
The army still retains about nirc nun
dred trained ficrs, but the rest arc gone,
nobody can tell where. All the govern
ment departments that might have
gwen encouragement to preserving the
cstabi'snmcnt have permitted it TO be
disirtcgrated. That means the army,
the navy and the postotfice. To-day
our manufacturing capacity is about 5
per cent Of what it was when the
armistice was signed The only planes
tie army possess are the De Haviland
As. which arc almost obsolete, and no
new ones are being procured. Ii we
should have trouble with another
power. say Mexico, we would not have
a single pursuit plane and would have
to go to some foreign gOYerRmcnt for
them.''
Censurc for Some One
Answering q suggestion by Senator
King that if this condition exists some
one is cersurRble, Senator New said
there are "reasons, but hardly ex-
cusea.'
After reciting tnat Great Britain has
appropriated 530,0oo,U00 for aero
nautics and that France has set aside
S22o, 100000 for air developments SER
ator New continued:
vt viii not do to leave the deveioD-
ment Of this art to the War and NAVY
departments. They are incompetent TO
handle II. There must be cooperation
with cities and states in the creation OF
routes, the establishment Of fields and
myriad other matters.
Hero in Congress we have four COM
mlttees which make appropriations for
supplying different departments of the
government with airplanes. Each de-
partment is totally ignorant of what
the others are doing. In some places
landing fields are duplicated within a
few miles, causing great and useless
expense, while in other places which
need them there arc no landing p!accs
at all.
House Loses Confidence
II have been informed that Great
Britain has sold already $4,000, 900
worth OF alrpianes to Japan in single
order. The fact Is that we have failed
TO press aeronautic dcvelopment he- /
New-York tribune., 1920-01-29
Seeks Republican Nomination
On Anti.RadicaI Platform,

CLEVELAND. Jan. 2s.-- Mayor Harry
l.. Davis announced to-day that he
would be a candidate for the Rcpub,i.
can nomination for Governor at the
coming primaries on platform calling
tor the elimination Of radicals and rad
lcalism and drastic lcgis ation to nun
ls1 protiteering
New-York tribune., 1920-01-29
Wood and Poindcxter IN Deh.,.

CHICAGO. Jan % General Ioonard
" ood tonight accepted the challenge
o' senator Miles Poindextcr, of Wash
s. d.. March 20.
New-York tribune., 1920-01-29
Two Noted Britons Dead

LONDON (via ottawa, Jan. 2s-vbo
aea5ns were announced to-day of J. W
Guiiand. former chief purliamentar,
whip Of the Liberal party, and The
very KEY. William Mair, former Mod
orator Of the Church of Scotland.
The Very Rev William Mair, be-
sides serving as Moderator Of the
lauren of Scotland, was al one time
pafiSh munster Of Ardoch and minister
al hochgel!y Hc was the author Of L
number or publications dealing WITH
alta RS OF the church and state, He v,as
born at Savoch in 1890. .
New-York tribune., 1920-01-29
House Loses Confidence

HOUSE Loses Confidence
u have been Informed that Great
Britain has sold already $4,000 900
worth Of airpianes to Japan in single
order. The fact is that we have failed
to press aeronautic DEVELOPMENT be-
New-York tribune., 1920-02-09
Would Weaken Principal

Qucation--I am the owner of twenty
shares OF Pennsylvania Railroad bought sew
sral years ago at 62aa. My wife has twelvs
shares which were bought at 56h. 1 have
an order with Benedict Wysdote for ten
shares, at Al. This money is savings for
my two children and has been drawing 4 per
cent as it accumulates weekly savings. | read
your article and l am undecided about pur-
chase. Have always had strong feeling
that Pennsylvania Railroad was safe In
vestment; surprised to read it don't earn
the 3 per cent dividend. Is it het,er for me
and children to laave this $400 at per
cent or purchase Pennsylvania Railroad pay :
ing much more re. B. w.
Answer--Pennsylvan Railroad stock
has always until recently been entitled
to good investment classification. We
cannot under present conditions.
recommend it. There are entirely too
many uncertainties surrounding the
railroad situation. Our only reason
for believing that constructive legis-
lation will be enacted is because tho
people begin now to realize how neces-
sary 1t Is to.give the carriers a square
deal. II they do not obtain it, 1t spells
receivership for many. We cannot
bring ourselves to believe that Con-
gress will allow this to happen.
Nevertheless the mere fact that there
is any doubt in regard to the matter
makes most railroad stocks specula-
tion. Conditions have changed. What
was once good investment cannot
now be so considered. In choosing
Pennsylvania stock now, you speculate
upon the legislation to be enacted.
Consequently you weaken the position
of your principal.
New-York tribune., 1920-02-09
Not So Easy A. It Looks

Question-As . reader Of your valued
paper am taking the liberty Of writing you
to ask few questions on the subject of
arbitrage in stocks between New York and
quoted ct about 200 marks per share in
Berlin to-day. equivalent to about SIS per
share. at the prevailing rate of exchange.
What prevents my buying this stock In
Germany and selling it in New York At $126
per shars7 If the German government pro-
hibita the export Of such securities from
Germany what prevents making tho neces-
sary arrangements with some surety COM
pany to destroy 100 shares Of such stock in
Germany, give bond for it hero, and thus
here: Or, in any event, is there anything
to prevent buying such shares in Germany
and leaving them there in the custody Of
some bank, meantime giving instructions to
pay the dividends to me in New York; Any
Of these plans would give very large profits
the first two might possibly find some diff
fculties in restrictions by the government,
but the third should not meet any great dif-
dculties that l can see, and would net the
investor at least 66 2-3 per cent, since
cost only SIS per share.-J. f. F.
Canadian Pacific stock between New
York and Berlin would be frustrated at
its inception, because there is ban
on the export of foreign securities
from Germany. You could not have
dividends paid to you, because transfer
of the stock sold in Germany, has been
stopped. If you attempted to secure
the stock by means of having the GER
tifcates destroyed you would find your
self in for considerable wait before a
new certificate would be issued, to say
nothing of other complications bound
to arise.
New-York tribune., 1920-02-09
Awaiting Stock Dividend Decision

Question: am the owner of a block of
National Lead common stock. 1t has been
rlmored In some quarters that this company
might distribute a cash or stock dividend.
Please inform me if your sources of nfornx
ton produce any ground for such surmise.
The earnings of the United States Cartridg
Company seem to figure in the talk.
M. K.
Answer-National Lead Company. a
we'll managed corporation, has shown
increased earnings for the last few
weeks. The last report (1918) showed
14.46 per cent earned on the common
stock, against 15.45 per cent in 1917
GIG per cent in 1916 and 4,86 per cent
in 1915. This company, with no fund
ed debt, has increased it's surplus from
$4,9O1 ,581 in 1911 to S8,341 ,564 in 1918.
The report for 1919 should show even
better results. The dividend policy has
been conservative. This is one Of the
companies which is said to be awaiting
the outcome of the Supreme Courts de
cision in the stock dividend case. If
this decision is favorable the company
very likely will make handsome dis
bursement to stockholders. 1t certainly
is in a position to do so. United States
Cartridge, one-half of whose stock Is
owned by the National Lead Company
has increased it's surplus from $2640,-
31s in 1917 to s4,ss6,ols. In 1913 the
floating debt was $3,150,000. To-day
there is none. This company is in the
same position, only awaiting in all
probability the stock dividend decision
New-York tribune., 1920-02-09
Elk Horn Corporation

.Question--kindly give me an opinion of
Elk Horn Corporation common and pre-
fcrred took nov quoted ut about 26 and 80.
respectively,-A. H. l..
Answer-Elk Horn Coal Corporation,
organized in the latter part of 1915,
showed earnings as follows: 1916, pre-
ferred $4.85, common $1.02; 1917, pre-
ferred $13.14, common 1854; 1918, pre-
ferred S9.4S, common 1886. Dividends
are fair on the preferred, at the rate Of
s per cent, or So a share. The common
received 6 per cent, or So, in 1918, but
the coal strike caused the directors to
defer the dividend on the common in
December, 1919. The outlook is said
to be better now. The stocks offer
speculative possibilities.
New-York tribune., 1920-02-09

Rsrlogls Stsel and vanadium Hteelf Ny
psrou. ,, years ears % ahead ' % I" them and ' these
companies are sound 4 will be all right. =
w. @.
Answer--All the stocks you mention
are so subject to wide fluctuations thar
they are not entitled to good invest
ment ratings. The war was responsible
for placing two of these companies,
(Lackawana and Republic) on their
feet. The others are largely products
of tho war. If you believe these com
panies will enjoy prosperity there is
no reason why you should not purchase
the stock. We do not consider that
they should be purchased for invest
ment purposes, but as speculation only.
New-York tribune., 1920-02-09
Dividend Is POSTPONED

Question: would like to inquire about
preferred dividend of the Chicago Great
Western. usua'y paiO in ,anuaiy. about the
18th. l have not received it on tho stock l
hold, and cannot ascertain why it Is de-
layed. l have seen or heard Of no notice
Of its discontnuance.-F. F. w.
Answer-No action has been taken
by the directors of the Chicago Great
Western regarding the dividend on the
preferred stock due at this time. There
was delay in the payment of the last
dividend, as it was necessary to obtain
approval from Washington before it
was paid. The road is earning less
than one-half the amount of the gov
ernment guaranty. Perhaps the direc-
tors prefer awaiting the outcome Of
railroad legislation before declaring
another disbursement.
Believes In Steel Companies
Question-Will you please give me your
opinion of the following stocks al invest
ments at present prices: Midvale Steel,
Lackawanna Steel, Republic Iron and Steel.
New-York tribune., 1920-02-09

unlisted. tSells cents q share.
New-York tribune., 1920-02-09

Information

Questions OF general interest to
i~vsstors will be amsWered in this
celMmm, IN Uhick case onlv initials
sciu be used. Others will 30 an
s.osred BY sna.i. Addresc all IN.
Qnirtes, enclosing q stamped, ad.
The Tribune. lS4 Nassau Street. Nsw
York City.
New-York tribune., 1920-02-09
Safety for Your Securities

NEcENT robberics have strikingly demonstrated the
danger of keeping securities in the office safe.
The care of securies-whether your own, those
entrusted you official trustee guardian
is serious responsibility.
BY placing securities with us in CusroDY SERVICE
Account, you can free yourself of risk of their loss
we'll as the and details of MANAGEMENT
We guarantee the physical safety Of the securities
collect the income, and credit or forward it: make out
income ownership certificates and attend to other
of detail.
At the time you have complete control over the
sccuriesyou retain all authority while the physical
devolves
The fee for this service very moderate
Our 6eoshf "7Ae Care Of Securities" gives n.v dttaah
NE shall be pleased TO discuss servicez zvith uu
Guaranty Trust Company of New York
40 Broadway
FIFTH MADISON AVENUE oFrcR
+d nd Suo1
Capital and Surplus $5o,ooo,ooo
Resources more than S8oooooooo
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-14
America Is All Right.

If those pessimistic citizens who
think that as nation we are approach
ing the end of our string will but
glance at the desire of men for Office
they will be treasured. There is life
in the old land yet.
In Arkansas, where a democratic
nomination is equivalent to election,
there were nine candidates for the
gubernatorial nomination just awarded.
The winner was in Congress some years
ago, and now finding the lure of place
still strong seeks to put on official har-
ness again.
In the Ohio primary just closed
there were several candidates for the
republican nomination for the seat in
the Senate now occupied by Mr.. Hard
ing; and the winner is a man who
knows what Office is and wants more
of it.
Three men are contending in Colo
RADIO for the republican nomination
Log senator. The state Is close. and tn.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-14
"The British Soviet"

British labor has definitely declared
it's hostility to any plan Of action by
the government seeking to eoerce Rus
STA At meeting held in Westminster
Hall of leaders who represented all
organizations of labor a resolution was
adopted pledging the Brit
ish labor party to resist any kind Of
military intervention by Great Britain
against soviet government of Russia.
1t resolved also to hold the council in
session until it had obtained an abso-
lutte guarantee that the armed forces
of Great Britain would not be used in
support of Poland or of Gen. Wrangel,
or in any military efforts against the
soviet. as we'll as a guarantee for the
withdrawal Of British ships operating
in blockade. the recognition of the boil
shevik government and the establish
ment of unrestricted trade and com
mercial relations between Great Brit
ain and Russia.
While it is possible that the British
government may give some form of
guarantee that a military campaign
will not be undertaken. it cannot be
conceived that it will 60 so far as to
pledge the recognition of the soviet
at the behest of this organization of
workingmen. To do 80 would be to
place the foreign policy of the govern
ment directly under control of q small
body representing minority Of the
people.
There can be no responsible govern
ment in case of coercion by a group.
The threat Of a general strike, now
voiced in England as a means of COM
polling action favorable to Russia. is
calculated to bring to crisis the re-
lation of the ministry and organized
labor in Great Britain. To render a
military campaign impossible by
pledging abstention of support and all
kinds of resistance is one thing, and
an endeavor to dictate recognition of
the soviet is quite another, as Premier
Lloyd George is likely to dem onstrate
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-14
Mr.. Harding a Protectionist.

Now that Mr.. Harding has intro.
dueed the tariff, we shall hear some
thing more about the subject in the
campaign. 1t is germane to the dis
cussion of the return to normal in the
world of business.
Mr.. Harding is, Of course, a protec-
ZIONIST. Ohio has always been q pro-
lection state. So strong, indeed, was
the sentiment for protection there
thirty odd years ago it overlooked the
boundaries and found some
in the democratic party.
George L. Converse, then representing
the Columbus district in the House,
was one Of the democratic members Of
that body who helped Samuel ]. Ran
dali decapitate the Morrison horizontal
low tariff bill in the Forty eighth Con.
gress.
OF the two men who since the civil
war have been foremost in the appli-
cation Of the policy Of protection to
American affairs one was a Buckeye.
William Mckinley as President signed
the tariff bill which Nelson Dingley
as chairman of the ways and means
committee of the House had put
through Congress. It carried lib
eral measure of protection, and in op.
Grafton benefited all sections and in
dustries. Business was lifted by it
from a condition of extreme de.
preston to one of extreme cheerful
ness and prosperity. In a very short
time Uncle Sam found himself living
once more on Easy street.
When tariff revision is again under
taken the work should be done on pro.
lection lines. We have proved that
policy, and finding it good should
adopt it for conditions which because
of the war are all out of plumb, and
require expert handling in all efforts
at rectifcation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-14

nominee must prosecute hot contest
for election. But here are men willing
to take the trouble and stand the ex-
pense Of two campaigns. one for the
nomination and the othe. for the Of
fee.
And there are a number of other
states where this same spirit is show
ing. Ambitious men, with a desire to
serve the country, are offering for
commissions.
1t is a good time to enter public life.
There is much on the different state
cards. and great deal on the ma
tional card. Some very important pol
icies will soon be in the shaping; and
the next half dozen years may wit
ness changes in world affairs with a
strong bearing on our own affairs. At
such time American interests should
be in the best American hands avail
able
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-14

be superfuous in view Of the possibil.
ity Of a ruling by the Supreme Court
of the United States that the Tennes-
see constitutional requirement of an
election between submission and vote
upon an amendment invalidates rati-
fication at the present session. Should
this thirty seventh vote be cast there
would remain no ground for attacking
the validity of the nineteenth amend
ment save that already presented, but
not in terms that disturb the confidence
of the suffrage advocates, that the pro-
eeeding in West Virginia was irregular
through the unseating Of one member
and the admission to vote Of another
who had left the state.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-14
Suffrage Progress in Tennessee.

The overwhelming vote cast for suf-
frage ratification in the Tennessee sem
ate-25 to 4-is greatly heartening to
all friends of suffrage, who have feared
an adverse decision in both houses of
the Tennessee legislature. 1t is ac-
knowledged, however, that tn. House
may write different record. Oppo-
sition to the ameEG,ne emf is known to be
strong there, but between now and
Monday, when the vote will be taken.
the most diligent and concentrated eff.
forts will be made to impress the an
tagonists of equal franchise that suf.
ffage is certain to come and that Ten
nessee should have the honor of cast.
bag the thirty sixth and presumably
the deciding vote for it.
In North Carolina the Iepislatur
p in session for the consideration of
the same subject. Already a prelimi.
nary victory has been scored there. The
constitutional amendments committee
Of the upper house has reported to l
in favor of ratification. The governo,
has IN his special message urged an.
proval and there is a prospect tina.
despite the recent attempt on the par.
of members of the lower house to in
huence adversely the action of thu
Tennessee legislature, North Carolina
Will cast its vote also in favor of en-
Establishment.
Tho thirtY,seYenth xp&e xuald No,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-14
Watching His Steps.

In addressing the Ohio Republican
Editors Association at Marion yester-
day Mr.. Harding read from manuscript
He explained to the visitors, many of
whom were old friends. that he would
prefer a less formal style, but ex-
planned that a candidate for office must
express himself with care.
So he must Everything a candidate
for high Office says in public is exam
ined closely. First by his supporters
for encouragement; and second by his
opponents for a word or phrase or
a sentiment they can turn to account
against him.
The present campaign imposes extra
caution on candidates. Some of the
issues are entirely new, while even
those that are old have taken on new
phases. The public is curious about
everything and none too we'll advised
about anything. 1t is looking to the
candidates for light, and wants real
illumination.
A slip by candidate is irremediable,
and may be disastrous. The opposi-
ton is ever on the alert. 1t provides
for its own reports of all he says in
public. of the conferences he holds
in so far as they can be reported, and
of all his movements A very white
light beats upon him from the day of
his nomination. He cannot watch his
steps or words too closely.
A slip by one Of his supporting
stumpers is not SO serious or impor-
tant. That can be explained, or, in a
pinch, repudiated. But a candidate,
speaking for himself, must say what he
means and mean what he says, and no
more. Hence the wisdom of thorough
reflection and preparation before he
faces his audience.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-14
Rate by Mail-Payable In Advance
MARYLAND and Virginia.
lae Post Office and Ponzi.

When PonZi was arrested in Boston
fine other dav the chief post office in
spcctor stated that he had been amazed
tl.at people invested their money IN
lis scheme, adding that back in Feb
fuary, after an inquiry into the Ponzl
business. warnings we're given to hold
aloof from it. as it was questionable.
ave warned hundreds of people, the
Inspector is quoted as saying; "many
OF them needed the warning, but un-
dsubtedly there were many who gave
their money Notwithstanding
No fraud order has been issued
against Ponzi by the Post Office De
partment. An official Of the depart
ment, explaining this fact in state
ment printed today in The Star. points
ont that fraud order is issued only
after thorough investigation and the
development Of absolute proof of
fraudulent practice or intent. In the
Ponzi case no such proof, it would
seem, has been adduced by the depart
ment. although the inquiry has been
on since February, or earlier.
An important question arises in this
connection. If there is not evidence
sufficient to justify the issue Of a
fraud order, is an officer of the Post
Office Department warranted in warn
ing people against business scheme?
II there is ground for warning by an
official representative of the govern
mont there is surely ground for an
explicit order barring the concern from
the mails and thereby in the broadcast
possible manner posting the commu
nifty against the project.
IL would seem that there is no middle
ground in such a case. Either the
department has been negligently slow
In the warning of the public, or the
chief inspector has exceeded his au-
.thority in giving informal warnings
not accompanied by fraud order. If
an official of the Post Office Depart
ment can, on the strength of sus-
picions, send forth broadcast personal
warnings calculated to injure the bust
ness Of an individual or q company,
the department surely can 60 to the
logical point Of making that warning
definite and widely public.
Ponzi's game nov appears to have
been thoroughly crooked. At all
events, he has been arrested and his
defense is already outlined as "insan-
lity." And between February, when
the informal and unauthorized warn
ing was given by the inspector, and
July, when the state authorities began
to close in upon the promoter, many
millions Of dollars were put into his
hands, despite the word of mouth hints
dropped by the representative Of the
postal organization.
1t is evident that the department has
either not gone far enough in protect
ing the public through a fraud order,
or has gone too far in aspersions upon
. private business.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-14

A great many people had forgotten
about the tariff until Senator Hard
ing mentioned it. And yet it is a
highly important consideration in any
plan for orderly relationships among
nations.