davidaulloa/AmericanStories huggingface dataset:
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01
The Income Tax
Basis on Which Losses Are De tern,ined
BY JOSEPH A. BLONDELL,
Treasurer of the Baltimore Sun.

curing
Section Of the new
OF
o
fair market
of l, vel
the
its l.
basis
be include in md n income
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01
FGOOsie' Lee Arrested
Again; Is Released

Police reports were graced again to-
day for nobody knows how many times
Nth the name OF Harry "Goosie" Lee,
81 300 Indiana avenue, negro politician.
Lee was arrested on charge Of falling
70 stop after an accident when the
license number Of his automobile was
found 20 correspond with that Of q car
that crashed into the motor Of George
Merrfman, $3.50 Julian avenue, at Ro-
anoke and Walnut streets.
The politician was released on his own
reCognizance.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01
Note This.

In order to arrive at the taxable
profit or gain the March LIST, 1913, value
or market price is used II more than
cost:
The three subdivisions above and the
three examples following should be ana
lyzed carefully by taxpayers in these
classes.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01
We TOWNE GOSSIP
pyright, 1922, by Star Company.
BY X. C.. B.-L

A FRIEND Of mine.
WHO LIVES on ranch.
WHERE ORANGES grow.
sss
AND MAKES marmalade
AND PUTS it up.
IN LITTLE 1ars.
JUST ENOUGH for one.
GAVE ME two of them.
AND 1 put them both.
IN MY OvercOat pockets.
ass
JUST ONE to a pocket.
AND AFTER a while.
I STARTED home
AND GOT in car.
go
AT THE crowded hour.
AND WAS pushed about.
AND FINALLY.
A HUMAN being
OF 200 pounds.
OR MAYBE more.
WHO WAS trying to balance.
AND READ a paper.
CAME OVER nv wav.
AND 1 was damned.
AGAINST A seat
AND 1T must have been.
1T HAPPENED then.
AND ANYWAY.
49,
IN A little while.
GOT a seat
AND WHEN I sat down.
THERE CANE a feeling.
THERE WAS something the matter.
AND souirmed a little.
AKIN KNEW right avev
WAS aitt,nr in something
AND 7 mt nv hand
INSIDE OF NV coat
AND TT was eooev.
Avn THE goo was running.
AMI THEN felt
INSIDE OF nv pocket.
AND CIT nv finger.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01
ITALIAN MINIS TER RESIGNS.

ROME, March Minister of Posts
and TeleCraphs Dtcesaro has resigned
from the Facta cabinet owing to dis
agreement over the under secretaries ap-
pointed It was announced today. A sue
cessor Will be chosen at once.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01

arrests were made for traffic vilations
Persons killed by motor vehicles mum.
bered pa, while 5,622 were injured.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01

THE LITTLE said be fading from vew and
ut Of US wonder Of school equip
n n few
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01


Of
S nc
a
downo Is
that
OF the
by a
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01
THE ABOVE ILLUSTRATED.

1. til worth $50
dnd his
until 1921 to his
I
taken
wife sold the for 500
the gain the cost'to the last
At
be arrved a IL ing the
I vase In
No 0
In the Of be of
The econd RECEPTION is ha n he g.
by gift Il n
Dec be q
Of
cdng by whom not l
Quire by gift For the dinerehce
acquisition sell
70 a I IN ing
o
An import o
individual
sustained
the
the me-
be a
taxable The substance the foregoing
l. E.
levied In shown Of 5000 in 1923
proftt
r1o2 S2oOO be a s
10000 Net loss
E'e' piO"' . '''''''
Net
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01


9A
derived
IN
gift after Dec 81 1920 the
basis IA be Ia
the lest preceding by whom not acquired
before
81 the basis ascertans gain loss from sale
9
acquisitions
acquisition
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01
Example No. 1.

\ Q.-Assume in 1911 you purchased a
bond for $1,000 and on March l, 1913,
the market value was $1,000 and this
bond was sold by you in 1921 for $500
What profit am to report7
$500; being the excess Of the
amount received over the March LIST,
1913, value 1900 minus 81, 200.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01

THE may asphalt paving prices but 1t is
ch the bottomof why they
hight
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01
Example No. 2.

Q.-Assume In 1912 you bought
bond for $1,000, which bond on March
1, 1913, had a market value of $500,
and this bond was sold by you in 1921
for 5000 What deductfble loss may be
claimed?
A.-$200, being the excess Of the mar
ket value March l, 1913, over the
amount received.
Example OF No. 9.
Q.-Assume you purchased in 1911
bond for $1,000, which bond on March
/, 1913, had a market value of $500,
and this bond was sold by you In 1921
for 5000. How is this to be handled?
A-No loss may be claimed, as the
market value March 1, 1913, was less
than the selling price. In this case, an
actual loss of 500 has been sustained,
but the amount received was $500
greater than the March l, 1913, value.
No profit, however, has TO be reported
because the March 1, 1918, value was
less than cost.
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01

LAST public commission has found utility that does
Ut deny hat t is making much money!
Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-03-01

MOST EVERY property owner will agree with the util'
other fellow ought to pay the taxes!
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
EVIDENCE FOUND
IN POISON CASE
Two Children Of Cleveland
Woman, Lady Bluebeard,
We're Insured.

CLEVELAND. O.. May 4-Ch-
cumstantiaI evidence continued to
pile up today against Cleveland's
lady blue-bard" suspect.
Although examination OF the ex-
humed body Of her third husband
10 die under mysterious circum-
stances in tne last few years hal
not been completed Prosecutor
Stanton announced slightest traces
Of arsenic or any other poison
would lead TO serious charges
against her.
The woman's two children. who
died Of poison said . have been
taken accidentally. were heavily in
sured. stanton claimed to hav 9
learned today He is working or
the theory that she poisoned the
last three Of her five husbands SO
she could collect the insurance.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
AT LAST.

Now rubber is SO cheap the gov
eminent ought 10 make the currency
more elastic
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
COUNTY COUNCIL
ALLOWS FUND TO
PAINT THE JAIL
recommendations of Grand
Juries Finally to be Ac-
cepted by County.

Deficiency appropriations were
passed az meeting OF the county
council and S1716 for the expense Of
the county surveyor was allowed as
well as s355S for the upkeep Of the
court house and grounds. An appro-
priation of $1,000 for painting the
jail was permitted. this matter hav-
lng been urged by recent grand
iurics which inspected the institU-
ton
Appropriations for four bridges
were made They are: over Jack
son road in Penn township S6O5
over Shively road I'm Union township
S2234. over Bowman creek on Lin
den road in Center township $3.50.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
If Kidneys and
Bladder Bother
Start with nature Herbs and Roots
tO Flush Kidneys AMI Neutral
ire Acids.

Help your Kidneys DON'T r-artlK them.
Tighten your diet a lirfle. ear less meat -
drink lors az water and uik avoid rich
food
our blood IS filled wfth uric acid and
Toxins which the kldnevs strive fo filter
out they weaken from 0Terw1rk. be-.
come sluggish thus ne pores Eer clog
ged ard create on sorts ~ distress re
sultiug Ion kidney trouble ur bladder
weakness and eventually .u Brt-hfs Dis
ease Dialects M Gravel ~ sou hPve
the slightest pain Emo thp kidney region
don't neglect it or delay frsh your
kiduers with this restorative ~a that they
NAV regain their normal activity. Dl
Carcy's PRESCRIPTION $50 go also
ncutraiizes irritating acids thus ending
bladder weakness DR. C8rrH- pRF
SCRIPTION 40 90 ls irernr-sive.
harmless and Is made from nature. r.
herbs and barkS snd De- recommended hy
doctors II never dis1ppolur~ and has
he; - years az success fnr Kidney and
bladder troubles Central Drug Co anil
an druggists nave nr. carey PRE-
SCRIpTTON so. ~ Sure relief or
money hack on large bottle Tablets 0r
Liquid ADV.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
DAUGHTER OF ]. D.
May WE'D FRIEND,
BUSINESS AIDE
Matrimonial Race of Harves-
ter-Rockefeller Clan In
wolves Mrs. Mccormick.

CHICAGO. Nay 4-An added
starter appeared today in the matri-
morai race OF the Harold j. Nc
rorm.cl-John ID Rockefeller fam
l.cs.
The name Of 1l-F. Edith Rookie
feuer lIcCormlck. divorced wife Of
EoroId. was coupled with that OF
Edward Krenu. Swiss her personal
fsleud and advisor.
in th.s reported romance Of the
daughter OF the worlds richest man
and her business manager" Cupid
has continued 90 deal strange cards
which brought widespread attention
% the love game OF the house Of
Mcconnell
Two other matches in the family
with prospects OF marriage soon
are.
Harold J. Mccormick and Gamma
Walska Polish opera star.
Mathilde Mccormick. 16-year-old
daughter Of the family and Max
Cser. Swiss livery stable proprietor.
krenn biushed furiOuslv and gig
gled Historically when asked in his
luxurious apartment ar the Drake
hotel about the rumored engage
ment 20 Mrs Mccormick but he
wouldn't deny &c. Krenn has been
living in the brakes most expen-
Elve suite since his arrival IN Ameri-
"a nearly a year ago. lie accom-
panied Mrs Mccormick 20 Chicago
after her self imposed exile OF eight
years in Switzerland
RockefeIlcr Opposes Match.
Rumors that Mathude's wedding
20 Oser had been postponed per-
haps permanently. persisted today
in spite % her emphatic denia,s. and
claims that her love for Oser was
true.
Mathilde took the attitude that
was her story and she was going TO
stick 20 t.
However closeup gossip from the
Mccormick household was that the
Rockefeller branch OF the family
which has opposed the marriage
from the first. had won q signal
victory toward breaking up the ro-
nance Mathilde's father. who first
publicity approved the match was
understood 20 be now ARA we'd with
the opposition 90 Oser Whether the
victory against Oser was won
through financial pressure. or other
wise. could not be determined.
In any event Mathude's rIans TO
sail for Europe 10 join her rance.
has been disrupted several times.
and now no. definite date for sailing
has yet been set.
Harold Mccormick. here with. his
daughters. refused 20 comment on
reports Of his coming marriage TO
Gamma Waiska. He said he had alb
solutely no interest in the divorce
which the opera star is obtaining
from Alexander Smith Cochran. but
agreed that Gamma Walska was a
wonderful woman"
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
MAYOR HYLAN'S AUTO
HIT BY STREET CAR

NEW YORK. May Z. Mayor
John r. Hylan had a narrow escape
from serious injury today when a
street car crashed into his automo-
bile at Bushwick Az. and SieCel St.
Brooklyn. The mayor was showered
with flying glass.
Mr. Hylan continued on his way
10 his office. where he received nu-
merous congratulations Of city en-
ployes over his lucky escape.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
DYE ANY GARMENT
OR DRAPERY WITH
"DIAMOND DYES"

Buy Diamond Dyes" and follow
the simple directions in every pack
age Don't wonder whether YOU can
dye or tint successfully. because per
feet home dyeing is guaranteed with
Diamond Dyes even Il YOU have never
dyed before. Worn. faded dresses,
skirts. waists. coats. sweaters. stock
ing, draperies. hangings. everything.
become like new again. Just tell
your druggist whether the material
YOU wish TO dye is wool or silk. or
whether Il is linen. cotton. or mixed
goods Diamond Dyes never streak
spot. fade. or run. -Advt.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
Traffic Rule InfractiOn
Cause OF Near-1ccideut

Traffic officer Max Bloom Thurs
day reported TO Chief Lane that the
.Hfraction of the traffic rule not per
hitting a right-hand turn when the
semaphOre signals stop" caused
near accident in which only the
pedestrians presence of mind pre-
vented him from being struck. Mo-
florists are continually violating this
rule. ne said. disresp4cting the rights
of pedestrians who watch fo~ the
stop" signal before taxing the
crossings.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05

Sea offers sleep on their backs on
the top OF the water or in ice with
the young offers in their paws.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05

and over Ewing av. In South Bend
$500.
The county council declared the
Dragon highway 10 be a public
utility and authorized the purchase
Of several lots adjacent 20 the site
now owned by the county where the
county highway maintenance de-
partment garage is located The
additional land VIII be used 20 store
equipment and material OF the de-
partment The site Is of OF Lincoln
way W. on College St
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05

When yoI say cigars say Dutch
Masters 111-tf
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05

N.rSlnius Mayo the rich radio
manufacturer of New Haven. Conn.
will soon be PUT on trial on bigamy
charges i'm New York. For three
years his attorneys have tried to
save him from facing court Mayo
was arrested in 1919 after his 16-
year-old stenographer committed
suicide. the reason given being that
ne had promised 70 marry her but
she had found out he already was
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05

Australia is Offering Inducements
20 immigrants.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
HOUSE FURNISH Kings

Wash Boilers, large
size. Ia OF. copper bot
toms, stationary handles,
SIPS values. Special
at .S1.69
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05

married. Public officials. investlgat-
ing. say they found that Mayo was
the husband at the same time Of
Mrs Florence Weeks Mayo Oeft).
since divorced. and Mrs. Lois Water
bury Mayo (center). neither OF
whom knew Of the others existence
until the investigation.
South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-05
Nurses Of Second District
TO Hold Saturday Session

A meeting of the second district
OF the Indiana State Nurses associa D.
ton viii be held Saturday afternoon
az the ST. Joseph hospital Miss
Margaret Parker Will give paper
on Hospitals" and Miss Mary Tur-
ner viii speak on Some Prominent
Women in the Nursing Profession"
The New York herald., 1922-03-02
MRS. ROBERTSON SAYS
SHE SPURNED $40, 900
Insists She Is Ready for Rob
berry Trial.

Mrs. Sarah l.. Robertson, who was re-
leased on bail Tuesday night from the
county Jail at Freehold. n. j., where
she was held on q charge of conspir-
ing for robbery in her home at Deal,
n. j., two weeks ago. made a state
ment yesterday in which she reiterated
her assertions that she had not con-
fessed to the authorities. She insisted
the robbery was a real one and that she
welcomed trial
Two men from the insurance COM
pany came TO see me this morning. I
she said. "and asked me 10 settle for
$40. 600, but | refused. j told them that
if / was guilty / did not deserve any
thing, and that If l was not guilty |
wanted the whole $1,000
Mrs. Robertson went directly to her
home in Deal when she was released
from Jail, and said she would remain
there until her case went to trial. She
said she thought the women's clubs in
the United States ought TO do something
70 prevent women from getting into
such situations as she has found herself
in. SO far as the threat of the insurance
company to bare startling facts" about
her past life Is concerned. Mrs. Robert
son said again that she welcomed an
investigation.
The New York herald., 1922-03-02
Beauvais with Des Champs Firm

Benuvafs with Des Champs Firm.
Special Dispatch to THE NEW YoRK HERALD.
MONTREAL, March Reports from
New York that members OF the broker
age firm Of Friedman, Markelson &
Co. had been arrested on a charge Of
larceny. created considerable comment
here to-day. The firm recently opened
an office in the Lewis Building here.
and later was taken over by Des
Clamps & Co.
II has been somewhat in the public
eye owing to the fact that Fred Beau
vais, correspondent in the Stillman case.
has been customers man there since ii
opened.
A Mr.. Abrahams, who seemed TO be
in charge OF the office. said the firm
was solvent and that Mr. Des Champs
could pay two dollars for every dollar
owed by the firm. Since opening in
Montreal not dollar has been lost fer
client. Des Champs was one of the
largest taxpayers in Hartford, with
real estate holdings assessed at more
than $250.000.
In the offices Of Des Champs & Co.
excitement was high among both clients
and employees when ii became known
that the quotation service from New
York had been stopped and business
suspended.
When Friedman, MarkelSon Co.
opened here. a score Of telephones and
battery of operators were brought
into play to excite interest In the stock
market. Two weeks ago. Des Champs
announced that he had taken over the
entire building.
j. Mcguire. local manager, said he
could not estimate within n million
dollars" the volume carried on account
Of clients in Montreal.
The New York herald., 1922-03-02
ALDERMEN GET ROLLS
FOR FIXING TAX RATE
Comptroller Offers Budget of
$3.50, ,60I ,35O.O7.

In special session yesterday the Board
OF Aldermen met to receive the annual
tax rolls and statement from the
Comptroller on the amount Of money
necessary to be raised by taxation to
carry on the Government this year. To-
morrow the board will fix the tax rate.
The Comptroller said the total amount
of the 1922 budget was $3.50. col .35o07,
divided as follows: City purposes, s22o,-
$40 .316.53: redemption and interest on
special revenue bonds and tax notes and
for interest on revenue bills. $50. .7s5. .55s. p
for deficiencies in taxes. 1927 ,So0.8; for
county purposes. s9.9s7. .S62.69: for re-
demption OF principal and payment Of
interest on the city debt within the
constitutional provision relating to debt,
s64 500. .69s63; for State taxes. S4,430,5l3a.
The New York herald., 1922-03-02
BACKLIFT, NOT UPLIFT,
URGED BY COL. FLOOD
Tells st. Dauids Society Bal
once Is Great Need.

More than four hundred and fifty
were present at the eighty-seventh an
nual dinner of the st. David's Society
in the Astor last night. President
Harding, King George and the Prince
of Wales were toasted, all the guests
standing. Col. Ned Arden Flood in an
address. advised balance. less reform
talk and more back lift" in our ma
tional affairs rather than the continual
harping on "uplift." The Rev. DR.
o. II. Bartholow praised Charles +.
Hughes and David Lloyd George.
Music and dancing followed the ban
quet.
The guests included Jacques Van
Brunt. Clarence w. Bowen, Albert
oliver James s. Roberts. F. T.. Evans.
John vipond Davies William o. Jones.
Edward j. Cattell. John Sloane, John II.
Fulton. the Rev. Howard Duffield,
Frederic r. Keator and Ames Louis
Amin.
The New York herald., 1922-03-02
IL MORE INDICTED
IN BUCKET FRAUDS
Continued from First Page.

does not appear as yet whether that
was before or after his purchase.
The short affidavit on which the three
defendants were held said that on Feb
ruary 2S the three nen received $4,000
from customer to purchase 200 shares
of United Retail Stores at S44.75. and
that without authorization from the
customer they sold the same stock At
$f4.62ia a share for their own account.
This would be what is known as "cross
ing orders" and is a practice not un-
common among bucketing firms. In
fact Simmons. who had the case origi-
nally. said it might develop into one II
bucl1eting.
The New York herald., 1922-03-02
BUCKETEERS ON RUN,
BUT LITTLE PREVENTS
THEIR CRAWLING BACK
Unless Effective Barrier to Swinding Operations Is
Erected Now, Crooks Will Return in Force After
Year. Say Those Who Know-Trial of Martin Law
Sought, Though 1t Is Not Preventive.
CALLS HERALD' ARTICLES CONSTRUCTIVE

KENNER director of the National Vigilance Committee
Fl Advertising Clubs the World the busi
which committee detecting exposing
tising YORK HERALD following
Il with keen article in THE NEW York
exposing methods which the bucket
to fleece the public
This series opinion contributes Importantly the educa
the unustworthy broker fraudulent
which, familiar will
him from inusting his
conscience
This informaoNha been presented by THE New
unsophisticated
hess been
and investment business"
The New York herald., 1922-03-02
RADIO TO GIVE wIsE's APPEAL
Mrs. Caruso TO Talk for Telephone
Tomorrow Might.

The big radio broadcasting station in
Newark. which serves hundred OF pri-
vate wireless telephone amateurs. is
preparing 10 send cut over the Eastern
states Tomorrow night a speech which
Rabbi Stephen 5 Wise will deliver on
behalf OF the child famine sufferers in
Armenia.
Dr. Wises talk will be part Of a pro-
gram designed to appeal specially 10
children. Child stories and music for
little people will be sent out and Mrs
Enrico Caruso will talk.
The New York herald., 1922-03-02
JAP WONDER ARRESTED
AS UNLICENSED DOCTOR
Cured Cancer and Crippies,
His Admirers Say.

Hara lIiche Nskamura OF 332 West
Seventy street was arrested last
right, charged with practiclng medicine
without a license. Isabella Goodwin. a
detective sergeant attached TO Police
Headquarters, made the complaint. She
said she went TO Nakamura and com
planned OF pains In the hack and that
he accepted fee.
Nakamura said he is mssseur and
not . physician. After his arrest sew
eral Americans and Japanese came to
tho stations 10 offer ball Tor him. The
Americans described him as a Jap
wonder" and said he had effected mar
vellous cures, curing women Of cancer
after seventeen physicians had failed.
and many crippled children
The New York herald., 1922-03-02
Suspended Before Purchase.

Thomas ]. Spellacy, formerly of Hart
ford, was in court to say that the firm
had been suspended from the Consoli-
dated Exchange prior TO the purchase by
DesChamps. The civil suit, he said,
was started by Des Champs to rescind
the sale contract and to protect himself
against any liability that might have
arisen prior to the purchase.
The Assistant District Attorney. Mr..
Wilson, who now handles the case said
he did not know what amount Of money
in all, was involved. but that $50.9 300
had been mentioned in one OF the afr
davits in the civil action. This was
supposed TO represent liabilities out
standing at the time Des Champs bought
the concern. but of which. 80 he alleges
he was not told. Mr. Wilson also said
there were charges OF padding payrolls
and similar practices. alleged to have
been INDUCED in after Des Champs made
his purchase and while he allowed the
former owners TO run the business.
The New York herald., 1922-03-02
27 POLICEMEN ATTEND
SACCO-VANZETTI RALLY
Story of Trial Refold and Pro-
fest Recorded.

Fifteen members Of the bomb squad
under Lieut.. J. ]. Gegan and ten re-
serves under Lieut.. John Leonard OF
thethe Fifth treet station attended the
Sacco-vsnzetti mass meeting last night
in Beethoven Hall, 21o Fifth street.
There were 800 other persons present
The New York herald., 1922-03-02
NO CAUSE FOR ALARM
IN BUCKETTNG ROUNDUP
Chicago Exchange Head
Talks Of Fraud Investments.

CHICAGO. March 1.-The confidence
game lis as old as the deception OF
Esau, and u is based now. as then. on
human cupidlty," Walter $. Brewster
president Of the Chicago stock Ex-
change, declared IN an address to-day
There Is no cause for alarm In the
present roundup OF fraudulent invest
went concerns" he said But only dur
ing the last three or four years we
Rad adequate laws 70 prevent stock
swindles."
Speculation as II Is conducted on the
Stock Exchange here ls not gambling,
but legitimate and necessary business
function. In the opinion of Mr.. Brewster
Mr.. Brewster explained that out OF the
recent failures OF stock brokerage
houses only three Of the forty-two fall
ures had been members Of either the
chicago or New York exchanges.