davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1922-11-12
Disagrees With Hoover
On Inter-Allied Debts
Dr. Anderson Disputes Europe's Posses
sion of Paying Power Now; Urges Con
sideration as Banking Problem

Of interest srd maturity, was merely
retterating in substance the original
sgreen,ent. II would be natural for the
principal, !. e., the Congress, in its I'm,
structions TO its agent. t. e., the Debt.
Fnnding Commission, to authorize IL TO
make sediment without further au.
hority which involved payment in full,
but the principsl, /. e., the Congress.
may very well have felt justified in ex-
authority in case different sort OF
adjustment seemed necessary
.The application Of the bankers
point of view clarifies good many
problems. Thus, IL is urged on behalf
of certain of our Allies that it is nm.
just to expect them TO reduce the
amount of the German reparationg
payments If their tlebts TO us age net
to be reduced. a against this, it Is,
contended with propriety and correct
ness that, from the standpoint of legal
obligation, there is no eonnection
whatever between German reparations
and the lnter-Allied debts, and 1t is
further contended that there is nr con
nection between the debts of our Allies
among themselves and the debt of any
one { them to us.
When, however, one views the mat.
ter from the standpoint of the banker
oeallng with embarrassed debtors e.
very different situation energies. The
banker may properly expect to take
cognizance Of every relevant factor af-
fecting. the future financial prospects
of his debtor. The Debt Funding Som :
mission, viewing the matter as prac-
teal bankers, would, therefore. be in
terested in teh reparations problem for
precisely the same reason thai they
would be interested in the revenues
and expenditures and internal debts OF
cur debtors, their currency situation.
their trade policies and trade relations,
their military budgets and other rele-
New-York tribune., 1922-11-12

land, Ore. 1t makes, therefore, very
little difference to the public whether
the st. Raul or the Northern Pacific is
merged with the Great Northern. AS
far as financial siren. tn is concerned,
it makes quite differesca to the Mil
waukee & St Paul stockholders whether
they can get the financial strength of
the Great Northern with it's $3.50 ,coO,-
600 of stock, selling at 80, behind the
equities in their property.
New-York tribune., 1922-11-12
ISPUTING the possession of
surplus paying power in cur
markets credited hv Secra.


n surplus paying power in cur
markets credited by Secre-
tary of Commerce Hoover to Europe,
Dr. b. NJ. Anderson jr., economist of
the Chase National Bank, in an adj
dress delivered yesterday before the
Arizona Bankers Association at Bis
bee, Ariz., urged consideration of in
ter-Allied debts as banking prob
lem. He contended that, instead of
a surplus over the last year, Europe
had deficit in current account re-
lations with the United States and
declared that, treated from the
banking standpoint and regardless
Of the political or sentimental ele-
ments in the situation, some modifi-
cation of the debts due the United
States from the Allies was desirable.
feature of Dr. Anderson's treatise
was his defense of the powers of the
American Debt Funding Commission.
Conceding that the powers Of this
body to enter into final pact with the
Allies were limited, DR.. Anderson at
tributed to it the ability and capacity
to initiate and negotiate. subject to
approval by. Congress- a far-reaching
and practicable agreement. He broad
~ agreed with the position of the
Right Honorable Reginald McKenna.
presented before the American Bank
ers Association, that for the immedi-
ate present America can expect to coll
lect little on these debts and with
hr. Hoover that over the long run
future substantial payments con be
anticipated.
After asserting that it was not
necessary to urge moral or senti-
mental grosnds for refraining from
exacting payment in full when eco
nomic and banking considerations so
| clearly pointed the same way, DR..
Anderson said in part.
New-York tribune., 1922-11-12
" ouLd COMPROMISE

!, Al pank were IN the position of
the United States government, OF hav-
ing made bad loan or loan difficult
OF collection, and it it could not collect
IN ful at maturity, it would consider
compromise proposals, involving extern
sion of time, reduction Of interest rate.
waving of interest for a period, etc.
The bank would, moreover, inquire into
the details of the debtors position,
including his assets and receivables, his
income and expenditures ard his other
debts. The bank would be concerned if
dividends were being paid by Its debtor
and II unnecessarily high salaries were
being paid. The bank would be espe-
cially concerned if the debtor were nn-
dertaking new borrowing for purposes
OF expansion or plant extension. There
would be no point to the banks making
any compromise of it's debt unless
there were such general readiust-
ment as to make sure that the reduced
amount OF the debt would ultimately be
paid.
1T is important to distinguish be-
tween reputation and cancellation
Reputation is the defiant and migrate
full act OF debtor. Cancellation is the
generous act of creditor. It would
not be possible for Europe to repudiate
these debts without undermining the
whole fabric of international good
faith. 1t would. however, be possible
for the United States government to
reduce. modify or even cancel these
debts without In any way undermining
international good faith.
"The fact that the Debt Funding
Commission is not empowered to re-
duce, modify or cancel any of the debt,
and that the only conclusive bargains
vi,
would be on the basis of interest at a ].
per cent and maturity at the end OF
twenty-five years, has been supposed
by many to limit it's powers so greatly
that it can practically accomplish
nothing. This view seems to be er-
roneous. There is nothing TO prevent
the commission from exploring every
possibility, fron entertaining every
possible proposal There is nothing to
prevent its initiating any proposal that
seems wise to it, in discussions VITA
lts European confreres. There is moth
ing to prevent the commission from de-
yeloping, in cooperation with European
commissions, comprehensive plan, in
volving the inter-Allied debt and all
related matters, and submitting it with
It's recommendation to the Congress
of the United States.
The situation again is not unlike
that which arises when the officer of a
banking house dealing with an en-
barrassed debtor explores with him the
possibilities Of the situation, works out
plan and reports the plan to his su-
periors for approval. It would fire.
quently happen that such an officers
preliminary instructions would be TO
accept no settlement except payment
in full, but it would be we'll under
stood that sucf instructions would not
preclude his discussing proposals made
or his advancing tentative proposals.
New-York tribune., 1922-11-12
British Trade Figures

LIVERPOOL. Nov. 1.-THE following
are the Board of Trade hgures for the
month of October:
New-York tribune., 1922-11-12
Another Combination

The writer and many others believe
that the Great Northern and the Chi
cago & Northwestern would fit very
New-York tribune., 1922-11-12
Growth of Capitalization

Inc. tg) 21eo 1Aa
'lncluding bonds of leased lines whose
earnings are Included in the Lehigh Val
ley Income account.
Between 1912 and 1922 the operated
mileage increased from 1,441 miles to
1,449 miles, or per cent.
Estimated Property Value
The estimated value Of the company's
property is s232,000 900, or about 20
per cent in excess Of total capitaiiza-
tion: If funded debt, together with the
small outstanding amount of preferred
stock, should be theoretically retired at
par, there would remain an equity for
the common stock in this property value
equivalent to $s1 share of $50 par
value.
New-York tribune., 1922-11-12
Boards Instructions

There have been no authorized
Statements. as to the policy of the
Debt Funding Commission in this mat
ter or as TO the willingness of the
Commission to entertain proposals
other than those laid down in the act
full at Afti per cent and maturity at
the end of twenty-five years. There is,
however. good reason to suppose that
the CONGRESS, in laying down ;ts terms
New-York tribune., 1922-11-12
Railroads Earning Power
No. 25-Lehigh Valley

.he t1rentB-ffh of a series OF forth
adag discussions Of the present earnipa
poeeer ~ tho leading American afeann
rattFodas' AT the request Of Tho Trib.
uhe, these etadaes mere undertaken bY
the standard Statistics Couspaay. me.
cj New York, arEich hos pyeparea the
papers ana IS securing a COPYRIGHT fo,
thene IN 1899. The tpcntg- -si.cth article
,ut1 ,s appear to-niorroW aud ayiH deal .pith
MissoaS Pacific. Financial Editor
NlSn the substantial development Of
Lehigh Valleys earning power during
the last fifteen years it's securit;e.
nave attained high favor among in.
vestors. Stockholders have been treated
InIandsomely in the way of dividends
Under normal operating conditions N .
company should easily be able to earn
the oiVidends it pays by comfortable
margin without the necessity Of heavy
araIts upon its coal properties. In the
event that a segregation plan for dis
posai OF the coal properties is agreed
upon Lehigh Valley stockholders will
aoubtless receive valuable rights.
based upon the latest y, Surns r,e-
nigh Valleys indicated earnings from
lts railroad operations this yenr look
small 1t is quite likely, however. that
considerable Improvement will act in
now that the strikes are over and coai
moving in heavy volume. 1t is also
probable that the coal properties are
IN position to contribute in case Of
need. A brief analysis of the Lehieh
valley situation follows:
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
CONS|DE ERABLY MIXED
Up IN LI"UOR
John Walker Pleads Guilty to Numer.
Ous Coupts Before Trinl
Justice Lord

John Walker of Elartland was be-
fore Trial Justice T. G. Lord, Monday
afternoon and his pleadings in various
cases would indicate that he had been
considerably mixed up with liquor of
late. There were numerous charges
against him one of these being the
driving of an automobile while under
The influence of liquor. He pleaded
guilty and was fined one hundred dol
lars and costs taxed at s5S.S7. He
was also charged with recklessly oper-
ating an automobile for which he was
fined SIS and costs totaling s27.87.
He likewise pleaded guilty to intoxi-
cation and on this charge was fined
SIS and costs which totaled $52.47.
Another charge against Walker was
that of the manufacture of intoxicat-
ing liquor but this being beyond the
Jurisdiction of the court, he was bound
over to await the action of the grand
Jury Settlement was made in the
previous cases,
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
TWO STILLS FOUND IN
THE WOODS
Leslie Allen of West Pitts6eld Before
the Municipal Court Justice

Deputies Crocker, Wheeler, Watson
and Cook made search of the prem
ises and the surroundings occupied by
Leslie Allen of West Pittsfield and
found in a nearby wood two stills in
operation, one of which was of capa-
city to produce five gallons day, the
other being of different make and OF
a type of later day construction. There
was also a large amount of mash for
distilling and other appliances, as we'll
as quite quantity of finished prod
uct in the form Of alcohol according
to the officer. When arraigned here
Tuesday, Allen pleaded guilty to man
ufacturing and was tried before Trial
Justice T. G. Lord on having in pos
session liquor with intent to sell, He
pleaded not guilty but was found gull
ty and the matter goes to the Supreme
Court for full determination on all the
facts
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
SPR|NGT|ME COMING
OCTOBER 8
Isabel Dionne Plays the
Leading Role
Large Number OF Local People will
Participate in SCrOsls Benefit. Re.
hcarsals Underway

Under the auspices of Skowhegan
Sorosis and as a benefit for the pub
lie health nurse, rehearsal3 are now
going on for the'musical comedy,
"Springtime, which will be present
ed here under the direction of the
John B. Rogers Producing Co, on Oct
ober ) About rs people will appear
in the performance with Miss Mary
Jane Casey of Iowa as coach The
time of the play in the first act is 1868
and is brought up to the present time
before the fall of the curtain in the
final act. Costumes of these differ
enc periods for both the men and wo-
men will be features.
The leading role of Priscilla will
be played by Miss Isabel Dionne, a
fayorite local player with many other
charming young ladies and gallant
young men selected from the town S
best talent. Other parts assigned
are Elvira. Miss Evelyn ST. Ledger;
Prunine, Miss Bcrnice Holt; Zenobia
Miss Ruth McQuilan Abigail, Miss
Ruth lies; Mrs. Elkins. Mrs. H. C.
Woodbury.; Thankful Standish, Miss
Anne NJ. Caswell Wainwright, Lauris-
ton Jacobs, Bobby, George r. Day;
Mr.. Brewster. Joseph Fluett; Parsons
(ValeU, Carroll Beal; Tom Higgins
Joe Pooler. Society girls will be
the Misses Molly V. Blunt, Lyle C.
Stinchheld and Florine Tonn. This
cast will be supplemented by large
chOruscs.
The committee from Sorosfs is com
posed of Mrs. Ethel NJ. Christensen
and the remainder of the ofiicia
board. The following Skowhegan la.
dies have been selected as chaperones
Mrs. Christensen, Mrs. II. Il. Smith
Mrs. l.. X. Twadelle, Miss Florence
Philbrick Mrs. G. f.. Avore, Mrs. Ralpl
Hill, Mrs, Annie p. IIackett, Mrs. f
o. Furber, Mrs. Walter Wyman, Mrs.
Adelaide l.. Whiting. Mrs. f. f. Mer-
rill, Mrs, Fred w. Weston, Mrs. Mary
NJ. Hurley and Mrs. Birdena Conant
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
Clyde H. smith, Vote lor Senator

Our tabulated report of last week
gave Clyde II Smith Republican can
didate for the state Senate, 1854
against 4097 fer Elmer b Rowell. his
Democratic opponent These figures
we're correct and gave Mr. Smith the
distinction Of having run 24l votes
ahead of any other Republican can
ddate In a news story in the same
issue however. We made a most unfor-
tunate error, quoting Mr. Smiths vote
at 424S,
We guard in every possible way
against mistakes of this kind and yet
they will now and then creep in, great
ly to our regret and humiliation. We
hasten to set the matter right so far
as republication can go.
The vote for State Senator in Skow-
hogan was: Clyde H. Smith lR) 1343:
+. B. Rowell Cd GIT.
There were also 156 citizens who
made the effort to vote for Mr.. Smith
by making Il cross at the top of the
Democratic column and cross op-
poste Mr.. Smiths name in the Rep
ublican column but failed to cross
out either of Mr.. Smiths opponents.
While the intention to vote for Smith
was evident. according To the statute
governing such matters. these votes
had to be thrown out as defective.
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
GRANGE FAIR AWARDS
At CANAAN
General Agricultural Event. Horse
Pulling Contest. Grand Ball In
the Evening

A very successful fair was held
Tuesday at Canaan un1er the direc-
ton Of Canaan Grange. In the Grange
Hall a fine display of vegetables. ap-
pies. flowers and fancy work was OK
hibitcd. AT noon dinner was served
by the Grange to large number. One
of tho leading exhibits of the fair was
the display by the Canaan Girls Ag-
ricultural Club. who also maintained
booth where ice cream and candies
were sold In the vegetable depart
ment awards were made as follows
Fred Nelson, lst; Everett Cooley. I'd 3;
Henry Manson 3D. In the fancy work
exhibit Mrs. Sadie Mason won first
Mrs. Clyde Decker, second and Mrs
Nellie Salisbury. third.
The horse pulling contest occurred
at 1890, Arthur Burrill winning first
and Dean Salisbury, second. A grand
ball in The evening with music by
the Kings Of Harmony was largely at
tended and ended the lays festivities.
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
ABOUT 1000 PEOPLE A.
TEND EMbDEN FAIR
Usual Successful Event Held on Mon
day Last. Results OF Awards
Pulling

Embden Fair was successfully held
Monday on the grounds near Embden
station, about 1000 people coming
from far and near to see the exhibits
OF fancy work, vegetables and cattle
In the horse pulling in the class of
2800 pounds or over, w. +. Robinson
of Bingham won first and third and
Henry Treat of Embden second. In
the class for horses weighing less
than $500 pounds, Joe Guerette of
Embden won first; Mark Walker of
New Portland, second aud Thomas
Bigelow of Concord, third.
RESULTS OF THE AWARDS
Heavy draft horses. over 2S00 lbs.
w. E. Robinson, first. 100 TT. 6 in;
Henry Treat, second, ~ IT.. w. f.
Robinson, third, So IT. 7 in; Rodney
Robinson, fourth, 35 II. in; Rus
sell Owens. fifth, % #. 10 in; G. G
Palmer sixth. 2 IT. Z in.
Horses, under 2800 lbs.-Joe Gar
ette first, 169 it. in; Mark Walk
er, second, 50 #. in. Thomas Bige-
| low, third, AZ IT. 8 in; Fred Ward
fourth, q IT. in.
Mrs. Gladys Williams, l three yeal
old Shorthorn bull, Sd, best herd oil
Sherthorn cows, first; two year old
Shorthorn, second; three year old
Shorthorn, third; farm products. first
G. G. Palmer, purebred Guernsey
bull, I'd; best herd of Guernsey cows
1st; three year old, first two year old
first; year old, first; calf of 1929, ist
calf of 1922, ID; draft brood mare
with colt, first draft brood mare with
rcolt, I'd; 1922 colt. 1st; 1922 colt. I'd
+. c. Ward, best Guernsey dairy
COW, I'd.
George Delling. Best hereford dairy
COW, 1st; three year old Hereford. 1st
three year old Hereford. I'd; two year
old Hereford, 1st; two year old Here
ford, I'd; calf of 1922, Hereford, list.
Willie Tuscan Hereford bull, 1st;
calf of 1922. I'd; two year old colt, 1st
c. A. Berry one yoke of oxen, 1st
Arthur S. Palmer / years old pure
bred Jersey. 1st.
Lester Bosworth Best pen of sheep
lst; best oxford Down Ram, I'd
Stanley RobinsOn-One purebred
Oxford Down Ram, 1st.
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
TWO new BRIDGES FOR
SOMERSET COUNTY
Flagstaff Bridge to Re Erected Some
Distance From Old Bridge mt Saw
ing Of Abent $4,000

Tha Highway Commission in ses-
sion Friday held a joint board meet
ing with the municipal officers of
Caratunk and the county commits
sloners of Somerset county at which
1t was voted to rebuild the bridge
over outlet to Pleasant pond in Cara
tunk. This structure will be Of con-
crete, the bridge having span of
20 feet, and a five-foot sidewalk.
At joint meeting of the Highway
Commission and the county commits
sioners of Somerset county, it was
voted to build new bridge between
Bigelow and Flagstaff Plantations
over the Dead river This bridge
will replace the old covered bridge
which was blown off it's foundations
early in the year and will be located
at a new site some distance down
stream, where a moro favorable eros
sing can be secured at saving
of about $4,000 over the cost of re-
building the bridge at the original
site.
The Commission opened bids on
bridges with the following results:
EDD INGTON M Hi STREAM
BRIDGE
John A. Costley, Milford
Maine .................. $1O,9540O
John A. Stafford, Bar Harbor,
Maine ......,....... lG,iooou
SOUTH BRlSTOI4-THE GUT BRIDGE
ARGUMENTS, ETC.
No bids received.
SOUTH BRISTOL-THE GUT BRIDGE
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
WALTERMOOpY ADOPTED
BY ANS0N COUPLE
Routine business Transacted at Sep
tember Term OF Somerset Probate
Court, Judge Small Presiding

At the September term of the Som
crsct Probate Court Mr.. and Mrs.
Bert r. Trask of Anson were granted
the rights of the adoption of Walter
+. Moody and the name was changed
TO Walter b. Trask. Other routine
business was transacted as follows.
Wills allowed and letters issued in
estate of: Mary T.. Totman, late of
Fairfield To Ezra Percy Totman of
Philadelphia Pa; Katie S. Everett,
late of Norridgewock, deceased, Harry
s. Everett of Norridgewoek, executor;
Daniel W. Jewctt, late of SOlon, de-
ceased, OleVia II. Jcwett of SolOn,
eXecutriX; Elizabeth Sarah Bowers,
late of Madison, deceased, Alice Maud
Mary Hamilton of Madison. executrix.
Zalptcs d. Lancaster, late of Pitts
field deceased. Amanda A. Lancaster
Of Pittsfeld, executrix.
Letters of Administration issued to
Amos X Butler of Skowhegan in es-
tate of Joseph +. Beaudette, late of
Skowhegan; +. Omar Furber of Show
hogan, in estate of Cora B. Furber late
of Canaan: Frances NJ. knowltOn of
Ripley in estate of Carrold S. Knowl-
ton, late of Ripley; Amelia Bolduc of
Skowhegan in estate of Netal Bolduc.
late of Skowhegan; Albina Marsh of
Pittsfold in estate of Fred r. Marsh,
late of Pittsfield; Fred II. Mcclure of
CornVille in estate of Rosetta NJ. Me
Clure. late of Cornville; Lydia NJ.
Noble of Pittslield in estate of Fred. A.
Noble, late of Pittsfeld; George A
lnnes of Skowhegan, in estate of Ma
bel b. Innes, late of Skowhegan; Lille
Draucikas of Starks in estate of
kaietanas Draucikas, late of Starks.
Accounts allowed in estates of Helen
NJ. Willis, late of Pittsield; Judson
w. Currier. late of Hartland; Llewel-
lyn Brown, late of Norridgewock;
Horatio c. Tobey, late of Athens; Al
media and Joseph II. Appleby, late of
Pittsheld; Charles Crymhle. late of
Anson; Mary l.. Carr, late of Norridge=
wock; Alfred NJ. Flagg late of Ca
naan; Llewellyn Eaton and Alvra W
Eaton, late of Solon Wallace Ireland
late of Skowhegan; Hannah S. Bailey
late of Harmony; Henry 7. Choate
late of Fairfield
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
|NER DAY FOR sOL0N AGRICULTURAL
SOCIETY At ANNUAL FAIR
|ndid Showing of Live Stock Interesting
Exhibits Prizes in Different Departments

Leland Mcdonald. 2nd and Bird; best
herd of registered dairy breed, Josiah
French & Sons, 1st, Charles French.
End; best herd of cows, either grades
or registered, w. II. Tuscan, list, JOS
eph Matson, End.
The sheep exhibit consisted of "a
sheep. There were 81 Oxford Downs.
Sheen and lambs exhibited by Charles
French, Malcolm Hall, 3. The best
exhibit of sheep, Charles French, LIST
and 2nd, Malcolm Hall, Bird. The ex-
hibitors of draft bred colts were:
Charles French, Josiah French d sons,
Arno Padham, Malcolm Hall. Best
year old draft bred colt Arho Pad
ham, 1st and End; best 2 year old,
Malcolm Hall, 1st. Foal OF 1877, los
iah French q Sons, 1st Charles French
End.
Best display of farm products, San
ford Nottage & Son, 1st; best display
of canned goods, Mrs. Dana Robbins,
1st; best display of needlework, made
and exhibited by members OF Boys
and Girls Club, Christine Adams, LIST,
Lucille French, End; Ella Paul. Bird;
best potatoes exhibited by members of
the BOYS and Girls Club Alben Heald,
1st. Bin McColar, 2nd, Wayne Nc
Collar. Bird. A nice display was
shown by Mrs. Herbert Boardman and
Asters and Gladiolias by Mrs. Mabel
Magoon; best display of FANCY work
made by exhibitor. Mrs j. l.. Foss,
1st. Mildred Manson, End, Muriel Ri
chardson, 3rd
The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1922-09-21
Wonderful Exhibit Of Meths and But
terflies at Somerset Central
Lair Next Week

We have just been advised that the
beautiful collection of moths and but
terfiies assembled by Mrs. Alfred s.
Burke OF Bingham during the past
year will be displayed In the Agricul-
tural Building at the Somerset Cen
trail Fair next week This collec-
tion embraces not only insects ma
tive to our state. but many from other
states and even from foreign coun-
tries. 1t is among the best exhibits
of this kind in America at the present
time.
The number of specimens will be
suggested from the fact that 1t will re-
quire four six feet show cases for its
proper display. Everyone attending
the Fair will want to study this ex-
hibt which has never been display
ed at Fair in Somerset County.