davidaulloa/AmericanStories huggingface dataset:
The Morgan County press. (Wartburg, Tenn.) 1916-1926, 1922-02-17
President investigates Reports
of High interest for
Federal Funds.
UNCOVERS FINANCIAL SCANDAL
Secretary of interior Fall Tells Csbi-
net Members Millions of Govern
ment Money Reloaned at
USurious Rates.

Washington, Jan. 3O.-A financial
scandal of nationwide importance
was unearthed at cabinet meeting,
President Harding was Informed by
Secretary of the Interior Fall that
millions in government money are be-
ing reloaned by private bankers in the
West and Southwest to farmers and
live stock raisers at usurious rates.
Secretary Fall, who has just re-
turned from two months trip
through the West, cited instances of
abuses which astonished the President
and the cabinet.
1t was shown that funds of the War
Finance corporation loaned to banks
for the use of farmers and stock rails
ers in the present agricultural emer-
gency at 51a and per cent were re-
loaned as high as II per cent. In ad-
ditions many of these banks are alleged
to have charged an extra commission
on these loans.
"The government is not going to toll
crate asury,' President Harding is re-
1Orted to have said.
The President called into conference
Eugene Meyer, Jr., chairman OF the
War Finance corporation. Mr.. Meyer
stated that if conditions as reported
by Secretary Fall exist the banks con-
cerned were violating both the letter
and che spirit of the law.
Both Meyer and Secretary of the
Treasury Mellon told the President
that practically all Of the government
money is being loaned at 51a per cent
and they denounced the practices re-
'ealed by Secretary Fall as unlawful.
The legal requirements, Mr.. Meyer
informed the President, are that when
banks reloan government funds they
shall not charge more than per cent
additional The banks also agree to
charge no commission for reloans.
This agreement is alleged by Secretary
Fall to he widely violated. In some
instances stock growers had been
charged as high as 81 per cent for six
month loan of government money.
Mr.. Meyer stated that the 2 per
cent allowed to private bankers was
more than ample to cover the cost of
their Investigators and their risk with
profit. This would mean that the total
interest rate ON the loan should not
exceed IN per cent.
President Harding asked Mr.. Meyer
directly If all interest charges of more
than 71a per cent were not usury?
Ordinarily that is So" was Meyers
reply.
President Harding told the newspa-
per correspondents that he relied upon
the American press to help terminate
this evil, broadcasting the facts to
stock growers and farmers that If they
are charged more than 7R per cent in
terest for government money they are
being defrauded.
Withdrawal of government funds
from the offending banks will be the
first step taken by the administration
to check the rapacity of the bankers
concerned. In addition, 1t is expected
that the government will permit the
institution gOf suits to recover over
charge Of interest. Treasury agents
will be instructed Immediately to in
vestigate the situation and make re-
ports of misuse of government funds
by the private banks.
The Morgan County press. (Wartburg, Tenn.) 1916-1926, 1922-02-17
1870 DEAD IN CAIRO REVOLT
One Thousand Others lnjured-Brit-
ish Troops QuelI Dis
order.

London, Jan. 29.-A cable dispatch
to the Evening Star from Rome says
it is reported there that fresh disor-
ders have broken out in Cairo, Egypt,
resulting in 100 persons being killed
and more than 1000 others injured.
British troops, the message adds,
uuelled the insurrection.
The Morgan County press. (Wartburg, Tenn.) 1916-1926, 1922-02-17
BIG LOSS TO FRUIT CROP
Three-Day Freeze Said to Have Been
Costly to California Oranges
and Lemons.

Los Angeles, CAL, Jan. 27.-Possibly
half the orange crop in California and
one-third of the lemon crop were lost
in the three-day freeze last week, ,ac-
cording to an official statement based
on field surveys given out here by the
California Fruit Growers exchange.
The Morgan County press. (Wartburg, Tenn.) 1916-1926, 1922-02-17
LuII in St. Louis Crime Wave.

st. Louis, Mo-, Jan. 28.-The local
crime wave is in state of suspended
animation In the IA hours ending at
G a. M. not a single case of murder,
shooting, stabbing, highway robbery or
burglary turned up to disturb the
police.
The Morgan County press. (Wartburg, Tenn.) 1916-1926, 1922-02-17
Monarch,s odd Pastime.

The king Of Denmark delights In
crochet work. At an early age he de-
veloped a taste for this sort of work,
but as it was regarded by his parents
as effeminate he did it secretly. Queen
Alexandra possesses fine shawl made
by his hands,
The Morgan County press. (Wartburg, Tenn.) 1916-1926, 1922-02-17

Don't attempt to talk if your mouth
is full or your head is empty.
The Morgan County press. (Wartburg, Tenn.) 1916-1926, 1922-02-17

Educating the public is no great
task If it is anything in which the
movies can educate them.
The New York herald., 1922-06-23
LIVERPOOL.

Spot cotton good demand at 7 points de-
cline; middling, 1854. Sales $1,000 bales.
American 10000. Imports 1000 bales, none
81 points decline Closed quiet at net de-
cline of "a to % points. July. 1314d.; Oc-
tober. 12.s0d.; December, 12.56d.; January.
chester: Yarns irregular; cloths. offers too
The New York herald., 1922-06-23
THE HANOVER NATIONAL BANK
- aL.n l-il. nE Nnan Anrk

New YORK, juno 20, fNll.
The roard OF Directors has this day de-
ella red a dividend of SIN PER CENT tGeel
pnyatle on and after July let, 1922 Tie
tr6nsfer books win remain closed from Juns
2fst 1922, until that date. t.
WILLIAM q. CABLE. JR., Cashiers
The New York herald., 1922-06-23
STATISTICS.
PRODUCE.

BEsASSsaMarroy; eh9lce, domsstisss 100 lbs. c
,oansh ania ss'IRgn Raanis 7SSs
small white. California. .s9: Lady Washing
ton, California; 50; red kidney. So25; inaps-
lb.. s7hGssc; extras. o. Score, SIC. firsts.
s3Kq36isc. seconds. 32@S3c.: lower grades,
eggs $S$slsa % ssotsaSsa ssote s sas sS seo2e ssSrs
34c,; s5 to 81 score. 32Q33c.; unsalted. higher
than extras sa93s,se @ extras. s2 score az slS K
Ss%c.; lower grades. si@52c. State dairy
Sssc eHSs; lpsa cemmon 70 fair sdes
2sc.; sc' seconds. ssa2sA &c. lower grades. 24h9
2sz@27s.; No. ,. 25A0asc.; lower grades.
specials. b.. 2o9aoSc.; average run. 1870
15&c.; twins, fresh specials, 19M620Ac.;
a.ae, oSs .ses sasss
19Ng2ohc. young Americas. 19AG2oc.
EGGs-Fresh gathered extras. dozen, ESQ
SOC; storage packed. extra firsts; s 2s3s9
2 s5orags acss pasEed sstra rfs.
regular packed, firsts, 2311G24isc.: 6econds
and poorer. 21AG23c;; trade eggs. 2i92i,sc.:
10 choice. dry. 20920hc.: New Jersey hen
nery whites. candled. extras. .44c. uncandled.
y
extra firsts. 3SG36c. firsts, 2s931c.; nearby
gathered whites, firsts to extra firsts. $50
36c. under grades. 25G27c.; Pacific coast
whites, extras. 3SHGS9c.? extra firsts, 35Q
3sc.; firsts. 29T33c.; under grades. ESQ
2shc.: other Western and Southern gath
cred whites, 25131c. nearby and nearby
Western hennery browns. extras. 3fQ34c
nearby brown and mixed colors. gathered
extras. 2saSoc; firsts TO extra firsts. Esq
271kc.
POTATOEs--south Carolina. bbl., s2a3. 25
under grades, $f.56a2.15: Bermuda. $5a7
Maine, oId. $50 lbs. sl.s502io; sweets. Jer-
POULTRY. DRESSED Chickens, fresh
brolers. nearby. 40a55c.; Western, 3sd52c.
frozen, 30q45c.; fresh flyers, 37G4oc.;
frozen, 2SG35c: roasters, S0q40c.; stays.
frozen o3a2ec.: fowls. fresh Western, boxes,
20a30c bbls. and kegs, dry. 20d29c.; iced.
19m27c. old cocks, fresh. 15g1gc. Turkeys,
fresh, 25430c.; frozen, young, 4aG52c. old,
4oa45c. Ducks, Long Island, spring, 25c
Western. frozen, 20522c. Geese. Western,
frozen. 15a1sc. Squads. fresh. white. dozen.
S350ds.25.
POULTRY, ILvE-Fowls, freight, 25c.: ex-
press 25426c.; spring broilers. freight $50
1sc. Turkeys. freight. 2oc.: express, s5c.
Geese. freight. 1fnf3c.: express, 15d1sc.
Pigeons. pair. 5Jc. Guineas. pair. CSC. Rab-
bits. lb., 23125c. rte
The New York herald., 1922-06-23
INERTIA IN COTTON
FUTURES TRADING
Market Reveals Trend Toward
Reaction, With Quotations
Slightly Lower.

Price changes were few and unim-
portant yesterday In rather feature
less and quiet cotton market. The mar
ket displayed a reactionary tendency
during much Of its session, selling off
20 to 2S points just before noon. Late
IN the day. however. the market
steadied and closed only to Is points
net lower From the outset the market
narrowed considerably and seemed to
be In waiting mood. probably due to
the proximity of private reports on
condition at the end of June and the
Trade interests were buyers on scale
down and Wall Street shorts took some
cotton. Demand did not quite meet Of
ferings. which came from the South,
local longs and Liverpool.
The greater portion of the selling was
a reflection of the continued improve
was again rather favorable. precipita-
tion in the Western Belt being con-
fined to a fall Of 1856 at Galveston.
Moderate rainfall was recorded East OF
the Mississippi. Prospects as whole
We're inclined to be favorable. Local
bull operators found little encourage
ment in Liverpool cables and futures
prices abroad did not quite meet expec-
tations. Liverpoors spot business con-
tinued active. 5000 bales changing
hands.
Recent support from the trade may
have been due to better conditions in
the New England mills. The long,
extended strike appears to be drawing
to conclusion and it is said that the
Amoskeag Company one of the largest
cotton manufacturers In New England,
is now employing twice as many hands
as the number working at any time
since the beginning of the strike.
The local spot market was quiet and
steady. 10 points net lower a 2z,s0 cents
a pound for middling. The New Or.
leans market was u points lower at
2263 cents. Its sales totaled 1,219 bales
The New York herald., 1922-06-23
INTERIOR RECEIPTS.
sEABoARD CLEARANCEs
LIVE STOCK AND MEAT PRICES.

Common 10 prime steers, 100 lbs 81. 25dsq. Z.
Common 70 choice bulls, 100 lbs. 1850 CSC
Common 10 choice cows, 100 lbs. 1.lor co.
Common TO prime veals, 100 lbs. S.r0Ti2 q
Common 20 prime sheep, 100 lbs. 3.0DT 800
Common 20 prime lambs, 100 lbs. e0QWl4. Z.
Live hogs. 100 lbs bs..............1i.00 00G11 4
Dressod beef steer Sides lb... t27T 10,
CITY dressed vealg, h. ...... iecp II,
presaed mutton, 10 b............. GceD 10'
pressed wethers. lb........... 1tcSD i9'
Dressed lambs, city, lb..,.,,A,,,. 1lcQ ~,
The New York herald., 1922-06-23
FEAR OF HEAT WAVE
GIVES WHEAT LIFT
High Temperature Reported
in West, With Poor Pros
poets of Moisture.

CHICAGO, June 22.-The wheat market
closed firm to-day. " to Il nc. higher.
with July. s1.13% TO $L13s, and
September, s1.17h to s1.15. Corn
gained sc. TO nc. and oats. sc. 70 Ac.
Provisions finished unchanged to 21ac.
lower.
Highest prices in wheat were attained
after the issuance of an official fore
cast pointing to higher temperatures
over wide territory. with little mois-
turc probable tonight or tomorrow.
Further crop damage from heat was
apprehended, the thermometer having
reached 112 in the extreme southwest
yesterday. Complaints Of lack OF rain
in Nebraska. South Dakota and Canada
tended to emphasize bullish sentiment
Corn ascended to the uppermost
reached In some time. De-
mand was based largely on likelihood
that II dry weather continued the corn
crop would suffer. Assertions that the
oats yield was already certain TO be
short found acceptance from numerous
traders.
Provisions were steady with offer
rurr.co ppvCrG
The New York herald., 1922-06-23
ELECTIONS AND MEETINGS.
PENN sEaBoARD STEEL ooRPoRATioSy IsfsS MsSury

First Meeting
PENN sEABOARD STEEL CORPORATION
To the stockholders of Penn Seaboard Steel
b Corporation: =
Please take notice that a special meeting
OF the stockholders OF the Penn Seaboard
Steel Corporation Is hereby called and Will be-
held on the seventh day OF July, 1922, at o.
O'Clock A. NJ daylight saving tme). at the
principal office of the Corporation, at No.
. Rector Street Borough OF Manhattan. City,
OF New York, for the purpose Of amending
the certificate OF incorporation OF said Cor-
poration, as to increase the number of
shares which II may issue from 7OO.0Oo-
shares without nominal par value to-
! 200 600 shares without nominal or par
value. said amendment having been duly au--
thorized by a vote of the ma jority OF theS
Directors of the Corporation at a meeting OF
the board OF directors duly called and held "
and for the purpose OF authorizing the filing
OF such certificate of amendment under the
corporate seal Of the Corporation, and sucn
other documents may be required TO per--
feet the amendment to the certificate of in-f
corporation aforesaid and for the purpose OF
transacting any business which may prcp--
erly come before said meeting and which.
may be incident to necessary TO facihtate
the amendment 10 the certificate Of incorpor-
alton Of the Corporation aforesaid. q
Dated, New York. June 22d, 1922. :
BY order OF the Board OF Directors.
J. y. WARREN President. b
@. i. JEMISON, Secretary.
The New York herald., 1922-06-23
Third Meeting.
PENN sEABoARD STEEL CORPORATION
To the stockholders
Corporation

Corporation:
Please take notice that n special melting Of
the stockholders Of tho PENN SEABOARD
STEEL CORPORATION Is hereby called and
Will be held on the seventh day OF July. iga2.
at 10 o'clock A. NJ. daylight saving tiric)
at the principal office Of the Corporation.
No. Rector Street, Borough OF Manhattan.
City OF New York, for the following pur-
poses. 20 wit:
To authorize the change Of the name of tho
Corporation from Penn Seaboard steel Cor
poration'' 10 Carpenter Steel Corporation
the present name OF the Corporation being
Penn Seaboard steel Corporation" and the
name which the Corporation proposes 70 as.
sumo being Carpenter Steel Corporation"
To authorize the execution. verification.
acknowledgement flung and recording OF the
necessary certificates and other instruments
required by law 20 be executed. verified. ac-
lynowledged. delivered, filed and recorded In
order 20 effect tho change OF the name
aforesaid. and the publication OF such notices
and resolutions as may be required by law.
Dated New York June 22nd. i!l22
Dy order OF the Board Of Directors.
j. II. WARREN, President.
G.. =. IEMISON, Secretary.
The New York herald., 1922-06-23
CHICAGO PRICES.
ler... lou Lou l-.-o
NEW YORK PRICES.

WHEAT--No. hard winter, $l.29M; Mol
Manitoba, s1.47M. No. mixed durum
Si 3SIt c. I. I. track New York, TO arrive.
CORN-Na, yellow and No. white,
sihc., and So. mixed. sohe. c. !. Z. New
OATs-Nn. . white. 47c.: No. white
s5ikT46c.; No. white, 44c. fancy clipped
white, 53iia55c. ordinary clipped white, 4s
assoc, all elevator.
RyI;-No. 2 Western, s10o Z. o. b. New
York and 81 .oOis C. l. T., export.
BARLEY-Malting, 73q77c. C. l. Z. New
York.
HAY-No. I, s2sa3o No. .. s26d27; No.
,, s23g25; shipping. s2iG23 per ton.
INTERIOR RECEIPTS
The New York herald., 1922-06-23
STEEL STOCKS.
JOINT STOCK LAND BANK BONDS.

Yield
Bid. Ask. Abt.
Joint J. s. L. B.-Chlcago
5lks. Now, 1861, op. 81. 104k 106 ass
tJoint Stock Land Bank 5s.
May. 1889. op. "a. .... 90 100 500
tJoint Stock Land Bank IS,
Nov. 1888. op. '23.....,l., 90 1c1 300
The New York herald., 1922-06-23
DIVIDENDS AND INTEREST.


COMMON STOCK DIVIDEND NO. 2A -
The regular quarterly dividend Of 81 - per
share upon the Common Capital Stock % this
Company, VIII he paid on July IL, 1922. TO
shareholders OF record at close OK business
June 30, 1912 The transfer books VIII not
bo closed and checks WIN be mailed from
the office of the company IN tifno 70 reach
stockholders on The date they are paya5les
A. y. IIOCKENBFAMER
vice-prcsdcut and Treasurer.
San Francisco, California.
The New York herald., 1922-06-23
DIVIDENDS AND INTEREST.
ne MORTGAGE BoND co. or NEW YORK
Savings Banks.

No, 80 Liberty street. New York
June %, 1922.
The Board or Directors Of this Company
has declared n quarterly dividend Of ono and
three-quarters per cent. dMee upon the cap
ital stock, payable Friday. June 30 l922, 70
stockholders Of record June %. 1922.
J. HENRY WESTON. Treasurer.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-27
LITTLE OTTO CAUSE
OF HAPSBURC CONTEST
Zita and Archduke Max
Would Be His Guardians.

Specio, Gable to THE NEW YORK HnnALp.
Copyright, 1899, by THE NEW York HERALD.
New York Herald Bureau
Paris, April 20.
conflict is expected between the
Archduke Macmillan Eugene Louis OF
Austria and the former Empress Zita
over the guardianship of her eldest son.
Hungary's uncrowned King, Prince
Francis Joseph Otto. following the dis
covery of a will Of tho late Emperor
Charles in the hands of Count Andrassy,
former Hungarian Premier, which was
to be effective only in case Of the death
OF both Charles and Zita. II is believed.
however, that later will was signed
in Funchal, Madeira, where Charles
died, giving Zita full powers over the
heir to the throne.
1t 10 known that Max is anxious to
direct a monarchist propaganda in Hun
gary as Otto's closest adviser, but Hun
garian law, having denounced the Haps-
burg dynasty, places the Hapsburg
family on the same level as that of any
other household. where in the event OF
the fathers death the mothers rights
over a minor are absolute.
Such conflict might prove disastrous
to the supporters of the Hapsburg dy-
nasty. az it would increase the prestige
of the Free Choice party. which Is
ciamoring for the early election ~ a
ruler old enough personally 70 direct
the affairs of the nation. Gen. Goem-
berg. formerly an officer OF tho General
STAFF. has Joined the Free Choice
group. and IS heading a section which
believes the eventual union OF Hungary
and Rumanla can he achieved if Otto's
claim is opposed by the Hungarian peo-
nj
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-27
UKRAINE REPUDIATES
DELEGATE RAkOVSKY
Productive Country Ruined
Under BolsheUistic Rule.

GENOA, April 26.--Alexander Choui-
chine, head of a delegation from Ukraine
which is protesting against Russian oc-
cupation, has sent the conference note
saying:
My Government in Ukraine categori-
cally protests against the presence OF
RakovslSy at the conference as the rep
resentative Of Ukraine. Rakovsly, a
Bulgarian by birth and Rumanian by
naturalization, has no claim to repre-
sent Ukraine. The so-called Rakovsky
Government is a mere office of the head
quarters Of the Russian troops occupy
ing Ukraine.
''All treaties, contracts and obliga-
tons concluded by the Bolshevist Gov
eminent or its agent Rakovsky con-
corning Ukraine are null and void The
Ukrainian people will continue the
bloody struggle against the oppressor
fighting also any one who goes tc
Ukraine to exploit the natural riches 0,
that 'coufitry under the protection Of the
bayonets of the Red army"
Prof. Strozxlxy, anti-Bolshevist Min
lister for Ukraine. at Berlin, described
the economic position Of his country
under the Russian Soviet as follows
Absolute catastrophe, 5000, 900 starv.
ing people, the land area under cultiva-
ton reduced to half of that prior to the
war. industry producing only per cent
Of normal, mines almost all flooded
means OF transportation practically non-
existent"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-27
THREAT OF POINCARE
BRINGS ALLIED MOVE
Continued from First Page.

The subcommission would be endowed
with the power to grant a Russian loan
n the Soviet Government accepted the
terms regarding the restoration OF for
eigin private property and other matters.
Then. with the main conference adj
jourDed Russia can choose between a
loan and refusal of the terms.
II is likewise hoped that Joint pro-
gram will be framed quickly to enable
Germany to decide whether she will
accept that condition. or face the result
on May 81 with the doubtful aid of Rus
STA.
PANS, April 26 (Associated Press).--
The foreign office has not yet been ad-
vised Of Mr.. Lloyd Georges intention
to summon the Supreme Council at
Genoa to discuss German PREPARATIONS.
1t appears likely that in view of the
special atmosphere created by the pres
ence OF the Russians and Germans at
Genoa, M. Poincare would have some
hesitation in attending a meeting Of
the council there until the Economic
Conference closed and the Germans and
Russians departed.
The Rapallo treaty would not be the
only subject OF discussion at such a
meeting Other alleged violations of
the Versailles treaty in all probability
would be brought UP.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-27
BRITISH PRESS FINDS
FAULT WITH FRANCE.
Supports Policy of Lloyd
George at the Genoa
Conference.

Special Cable to THE New YORK HERALD.
New York Herald Bureau.
London. April 70. &
The British press. with the exception
OF Lord Northcliffe's papers. continues
to support Mr.. Lloyd George in his prin-
ciples at the Genoa conference, and
hopes. though vainly still. for tangible
results.
1.-THE objects OF the Genoa conference
are vital to the welfare of our popula-
tion," says the Westminster Gazette.
The paper believes, however, that the
conference remains in the same state as
when 1t was ''torpedoed' by the limita-
tons placed upon It's discussions. 1t
thinks the conference is now in ex-
trenis. largely as consequence Of the
action Of France" and says that IL it
fails there will be another conference
freed Of limitation.
Again we say that Mr.. Lloyd Georg
has the preponderance of the opinio
OF this country with him, when one OBJ
serves that Great Britain will not sup
port policy that will leave Russia and
Germany in isolation and misery We
are aiming at healing, not a new prepar-
alton for the SHAMELESS
Continuing. the Gazette says that
Great Britain has stood by France in
situations in which friendship has been
subjected to considerable strain. "At
Washington, NJ. BRAND placed himself
In a position which estranged American
sympathy and brought about the deter
mination of the United States to be
free of European complications Is
that mistake to be repeated at Genoa p
The Daily Chronicle regards the Rus
sian demands as "an artificial rock TO
stumble over" and regards it silly to
block the conference by such terms.
The Daily Telegraph blames the Rus
slams for using Genoa for propagandist
meetings. adding that they are not
normal men," 1t accuses them of 1.-THE
insanity of aggressive shamclessness, :
and says that explains much of the
trouble.
The Daily Netcs thinks thai Premier
Poincare must 60 to Genoa. at least for
the meeting of the Supreme Council. and
says that If he does very strong moral
pressure would be brought upon France
by practically all the allied and neutral
nations to exercise the restraint Of COM
men prudence in the interests of peace.
Few Intelligent people In any civilized
country will have any doubt as to the
course NJ. Poincare ought to take
The Times believes that the larger sub
ject which is gradually coming to the
front, is a non-aggression pact framed on
the Washington model, to which Mr.. Lloyd
George attaches particular Importance
and thinks France will support it, pro-
vided it does not apply to PREPARATIONS
1t says:
There ia only one way to overcome
all dangers, and that is close and
definite understanding between France
and England. That is the beginning of
the end of sound European policy"
The Evening star says: 1T Is quite
clear the Genoa conference is on its
last legs" and advises France ito come
out OF her hasheesh dreams and>realize
the hard facts"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-27
DOUBTFUL IF POINCARE
WILL ATTEND MEETING
Sfeed Sees Objection to Repa.
yotions Session at Genoa.

GENOA. April 2e.---It IL apprchended
that tho British proposal TO call a meet
Ing Of the slgnatories OF the Versailles
Treaty may be regarded as an attempt
TO evade the express condition that
PREPARATIONS should not be discussed at
or In connection with the Genoa confer
ence. says Henry Wickham Steed In n
dispatch sent to the London Timcs to-
day.
n Is therefore thought very doubtful.
Mr.. Stced adds, whether Premier Poin-
care OF France win accept the British
suggestion. IL seems certain, he adds,
that the Lloyd George non-aggression
pact will not bind sisnatory countries
solely to refrain from aggression
against the territory Of neighbors, but
also will involve an undertaking on
their part to respect existing treaties,
international engagements and the
sanctions contemplated by those treaties
and engagements. The sanctions cm-
bodied in tho Versailles Treaty may be
expressly mentioned as lying outside the
scope OF the term aggression"