davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-02-16
CLOAK'S HEAD
SAYS TRADE IS AT PEAK
Loss From Operations in 1921
Put at 81, ,439, ,902.

Current business OF the National Cloak
and Suit Company is running at the
largest volume In the history OF the
company, according to S. 6. Rosenbaum,
president, in the annual report sent to
stockholders yesterday. showing loss
in 1921 from operations of s2.439.s so2.
compared to s1,3is,917 In the preceding
year, due to decline in inventory value.
Net sales in 1921 were s37,4s1,210.
against s47,704.42S in 1920.
Merchandise inventories have been re-
duced from approximately s7.o00.0oo at
the close Of 1920 to s4,533.023 on De-
cember 2S. 1921. Inventories of paper
stock and miscellaneous supplies were
reduced from s1,052,141 to $209,51s dur
ing the same period. At the end of 1921
the company showed cash on hand of
s2.421,2 ,202. against total current liabil-
tiles of $1,911.93S, and had no outstand-
Ing current notes payable. The ratio
of current assets to current liabilities
stands at to /.
The report announces that funds had
been deposited for the ten year per
cent notes to provide for the redemp-
ton of s250,00o par value. reducing the
amount outstanding TO s4.750.00o.
The New York herald., 1922-02-16
N. Y. PHONE VALUATION
SET AT $I2l, ,066, ,555
Contention of City Is Upheld
by J. G. Wray, Engineer.

j. G. Wray, telephone engineer en-
ployed by the city, at the hearing on
telephone rates before the Public Ser
vice Commission yesterday testified that
on December 81. 1920, the property OF
the New York Telephone Company in
Greater New York was worth $121,-
066,555.
After the hearing Assistant Corpora
ton Counsel NJ. NJ. Fertlg said ths
testimony of the engineer upheld the
contention of the city last summer
There is yet to be computed the amount
to be allowed for depreciation" he
added. "At the end of 1920 the COM
panyShad in the depreciation reserves
s3S.950,153 attributable to New York
city. Deductlng this amount from Mr..
Wray's figures II apepars that the in
vestment of the security holders OF the
New York Telephone Company in prop
erty in Greater New York is not more
than $50. Jig. 400 This amount is s43.-
94s.095 less than the amount which the
company claims as the sum on which it
is entitled to a return for the purposes
OF this case"
Mr.. Wray will continue his testimony
when the hearing Is resumed at 10 80
a. NJ. on March s.
The New York herald., 1922-02-16
ASKS CREDITORS AFFIDAvITs.
brokers' Receiver to Separate sc-
curitfes I'm Vaults.

William Otis Badger. Jr., assignee Of
Crawford. Patton & Cannon, brokers,
proposed yesterday to separate to-day
securities in the firms vaults belonging
to customers from those belonging to
Crawford. Patton & Cannon. Conse-
quently he asked all it's creditors to
forward affidavits at once to the as
signee, setting forth In itemized form
the exact nature OF the securities and
the circumstances under which they
were left with the firm.
Mr. Badger said that the only ap-
parent reason for the failure was the
fact the firm had extended credit to
customers and had sold out bad ac-
counts at a severe loss. He pledged
cooperation with all the creditors and
speedy action in tho liquidation of ac-
counts so far as loss might be
minlmized.
Supreme Court Justice Nathan Blur
granted yesterday permission TO Mr..
Badger to file provisional bond OF
100000 to hold until the firms sched-
ules are filed, when the amount of his
bond will be fixed by the court. His
petition states that the assignors' estate
Is valued at approximately $4,000. 900
and its liabilities at approximately So
100000.
The New York herald., 1922-02-16
RECEIVER NAMED
FOR PAPER COMPANY
Hercules Corporation Hard Hit
by Depression of Market
i'm 1921.

The Hercules Paper Corporation, 135
Broadway with mills at Cornwall and
Rock City Falls, n. Y. and its subsid-
iaries. the Frank Gilbert Paper Com
pany and the Union Waxed and Parch-
ment Paper Company, went into the
hands OF a receiver yesterday on APP
plication of creditoys. The bill in equity
filed in the United States District
Court states the amount of the assets
Of the three corporations is $6.650.02s
and the liabilities s4,Os6,331. Depres-
sion in the paper trade is given as the
cause Of the failure.
Judge Learned Hand appointed Per-
cival Wilds receiver for the three COM
panies under bonds of $4,000. Jacob
l.. Holzmann, counsel for the Hercules
Paper Corporation, issued the following
statement:
"The Hercules Paper Corporation and
it's two subsidiaries Joined in the appll-
cation for the appointment of receivers
in equity. which was asked for by some
Of the creditors, for the reason that II
deemed II for the best interests of all
the creditors. as werf as of the stock
holders, TO go under the protection OF
''The concerns are not insolvent and
have more than enough to pay all their
obligations and leave q substantial sur
plus for the stockholders,
owing to the great depression in the
paper market in the early part of 1871
the company was very hard hit by cam
cellations and found itself considerably
involved in commitments made when
the market was high. that necessitated
a reorganization. Under the reorganiza-
tion, which was put through about n
year ago. the companies have been
under the Joint control of committee
Of general merchandise creditors and
the bankers.
"The continued depression in the
paper market has made it necessary
for the companies to undergo new re-
financing and the receiver will have full
cooperati ton Of the officers and directors
of the company in his efforts to extri-
cate IL from its present straits.
"A creditors committee has been or
ganiZed with I. Howard Lehman, OF
Cook Nathan Lehman as counsel and
all interests are working together to
bring about speedy reorganization
of the companies"
Company. Boston. against the Hercules
Corporation, for si.41S: Srere Brothers.
Franklin. o., against the Frank Gilbert
Company. for $5,463 and the Craig
Becker Company. AZ Vanderbilt avenue,
against the Union Parchment Paper
Company, for $3,7S9.
The New York herald., 1922-02-16
STEEL MILLS Buster,
BUT PRICES NO BETTER
Building Demand Added to
Railroad ActiUity.

Although steel operations have shown
some Improvement during the last week.
the trend OF prices has still been down.
ward, according to the weekly reviews
of the industry. This situation reflects
the continued keen competition appar-
ent for weeks. With wire nails reduced
to s2.40 keg and plain wire quoted at
$2.15 a hundred pounds, the Iron Age
composite price is cut to zoos cents a
pounds, the lowest on this receding
movement which began In September,
1920.
'"rhe potentlalities of railroad de-
mand." the Iron Age says, "are again
encouraging producers. Meanwhile, new
rail business calls for 1000 tons, includ-
ing 1900 tons for thhe Chesapeake and
Ohio, and three roads have bought
10,6o0 tons of tie plates. with 5000 tons
from another pending"
The Iron Trade Rerieio says:
Buying of iron and steel is being sus-
tanned and the weeks record of new
business and of mill operations further
points to reviving demand of fairly
general character. Steel works opera
tions in the Pittsburgh. Ohio and Chi
cago districts continue to gain and are
much ahead OF those of the East. An
increased number of works this week
are running above the so and even over
the 60 per cent. mark.
"A feature OF reviving building condi-
tions is the large number OF smaller
projects coming out. Some large under
taliings also are included. notable among
which is the $4,000 ton bridge across the
Hudson river for the New York Centra I
Railroad at Castletop, ". Y. Awards OF
the week totaled Is, 900 tons.
More stabilized market conditions are
indicated by the Iron Trade RevteiU's
market composite of fourteen iron and
steel products. The new average is
SASS, compared with s32.ss last week.
$32.92 two weeks ago and S33.64 first
week of 1922"
The New York herald., 1922-02-16
AMERICAN BRASS ELECTION.
Booker. Elton and Coo Chosen
for Highest Offices.

At the meeting Of the directors OF the
American Brass Company, held here
yesterday, these officers were elected:
Chairman OF the board. Charles Il.
Brooker. vice-chairman and first vice.
president. John y. Elton; president.
John A. Coe executive presidents
Edward L Frisble, Thomas y. Kent and
Gordon W. Burnham treasurer. Cliff
ford u. Hollister; assistant treasurers
Major W. Judge and a. Berham Terry /,
secretary, Edmund III. Yates assistant
secretary. Elton $. Wayland /: executive
committee. Charles y. Brooker Edward
l.. Frisbic. Thomas II. Kent, John +. FL
ton. Gordon w. Burnham, John A. Coe.
George IL. Allen. Clifford y. Holilster.
John y. Ryan. Cornelius r. Kelley and
Benjamin y. Thayera
The New York herald., 1922-02-16
FINANCIAL NOTES.

Harold w Miller, for the last few yea ~
in the new business department OF the Ma
tionnl Bank OF Commerce In New York, II
with g. w Straus 4 Go.
Pynchon 4 Co., members OF the New York
stock Exchange, Ill Broadway, are distrib-
uting weekly 20 banks, brokers and dealers
six comprehenslve quotation sheets contain
ing condensed descriptions OF more than GOO
representative issues classified as public utr. .
itv '~onds public utility stocks, Industrial
bonds. railroad bonds. Canadian bonds and
foreign bonds.
q. H. HaIsted Co. have moved to 115
Broadway
The bort Motor Car Companys no par
value common stock was listed on the New
York Curb market yesterday for the frst
Brumley, chamberlin 4 Co, members Of
tho New York Stock Exchange, have issued
The New York herald., 1922-02-16
ALLIs- CHALMERS IMPROVES.
Increase In Untitled Orders shown
at First OF Year.

The Allis-Chalmers Manufacturing
Company in 1921 had net profits OF
s2.2i5,467, after deduction OF Federal
taxes, according to figures compiled
from the four quarterly statements OF
the company. This compares with
s3.5s4.24s in the preceding year. Sales
billed totaled s24,6s5. .257. against s31,-
516.207 IN 1920.
In the last three months OF the year
the company had net profits of s3S4,032
after taxes. which compared with
s42i,366 in the previous quarter and
with s1,03s.961 In the last quarter Of
the previous year The years profit
was equal to s4.i1 n share OF common
stock after providing for preferred div
idends.
Untitled orders January totaled
s7.300.574, compared with s7.26o.574 a
year ago.
The New York herald., 1922-02-16
REXALL TRUST rs FORMED.
Stakeholder Agents May Buy
Shares Under Centralized Plan.

The Rexail Investment Trust has been
formed by the Louis *. Liggett inter-
ests to permit the stockholder- agents
OF the United Drug Company to buy
under centralized plan shares OF the
United Drug Company. The trustees
of the new investment trust will be the
persons who acted as trustees OF tho
so-called loyalty trust fund" which
was subscribed by these stockholder-
agents several months ago when Mr..
Liggetts financial affairs became in
volved.
The subscribers will be permitted to
buy shares and pay for them on the
instalment plan, 10 per cent. on pur-
chase and 10 per cent. month until
paid for The stock will be held and
voted by the trustees OF the fund. Kid
der. Peabody & Co. are fiscal agents
for the trustees.
The New York herald., 1922-02-16
TO ACT ON sUMATRA DIVIDEND.
Tobacco Company's Directors VIII
Meet Tomorrow.

Directors OF the American Sumatra
Tobacco Company will consider the
semi-annual preferred dividend at a
meeting tomorrow afternoon. A sharp
write off OF inventories is to be made,
according to information obtained yes
terday. and if this is sufficient to wipe
out or greatly reduce the profit and loss
surplus of s1,500,000, as of July 81, It
is not expected that the dividend Will
be declared.
Thomas f. Thornton has been elected
director OF the company to succeed
Sidney II. March OF Ladenburg, Thai
mann e. Co, who had resigned
The New York herald., 1922-02-16
TRUST COMPANY pANoUET.

At the eleventh annual banquet OF the
Trust Companies Of tho United States,
which VIII be held tonight In the Wal
dorf-Astorla Hotel under the auspices
OF the trust company division of the
American Bankers Association, J. Ar
thur House. president of the division
and president OF the Guardian Savings
and Trust Company of Cleveland. will
be the toastmaster. and the following
will speak: DR.. Charles A. Richmond.
president Of Union College; Herbert Il.
Swope. OF the World. and Sir Paul
Dukes.
The New York herald., 1922-02-16
wEYMAN-BRUToy GAINS.

The Weyman-B -Bruton Company, re-
porting for 1921. showed net earnings
after all charges and Federal taxes Of
$i,S73,231. against S1,S05.535 in 1920
and Sl.727. .205 I'm 1919 After deducting
preferred dividend payments it's balance
was equivalent to sia.27 a share on
s7.94S,520 OF It's common stock, against
$22.S0 share on s6,623.s00 of that
stock IN 1920. Profit and loss surplus
Il close Of the year was sS,I29,571.
The New York herald., 1922-02-16
DROP BY PRESSED STEEL CAR.
Profits in 1921 More Than $4,000
900 Below Those Of 1920.

The report OF the Pressed Steel Car
Company for 1921 shows n surplus of
s6Sl,so6. after charges and taxes or S. As
a share earned on the outstanding pre-
ferred stock. In. the preceding year
earnings totaled s2.53i, ,so5. or 1895 a
share on the common stock after pre-
fcrred dividends. The 1921 earnings
were insufficient to pay the preferred
the year.
Profits for the year were S.0s1. EOS
against S,194,277 the year before De-
probation charges. &c. totaled 500, 600.
against s662.472. and $4,000 was dis
tributed on the common stock, leaving
a final deficit of $4,000.
The New York herald., 1922-02-16

= circular on American woolen Compsuy.
saying that the company In seven year,.
from 1914 20 1890, carried 10 surplus more
than 500 share, after charging off $40 n
share On It's common stock for depreciation
OF plant. &c., and paying dividends OF t43 a
share, n total Of t113 a share.
Brown Brothers Co. have issued a table
81 foreign currency, giving values in terms
OF the dollar at prewar and existing rates
OF exchange.
The American Trust Company has been
appointed transfer agent for loo. 900 no par
shares OF the Faurot-Scope Corporation .
capital stock,
The New York herald., 1922-02-16
FKFIGHT LOADIvGs INCREASE.

Because Of increased traffic. prlnci-
pally In coal and merchandise and mis-
cellaneous freight loadings OF revenue
freight in the week ended with February
were 753.Ss6 caras aeaSfst 743.T2S In
tho week before, an increase OF 10.15S.
In tho corresponding 1921 week loadings
were 511G2 Iess
The New York herald., 1922-02-16
RAILROAD EARNINGS
SHOW HEAVY GAINS
Total for December for 189
Lines Is S42,652,398 in
Preliminary Report.

The preliminary report of earnings of
1s9 railroads Of the United States for
December, made public yesterday,
shows net operating income of $685.
39s, which compares with s10,4lo504 in
December. 1920. Both the Eastern and
Western districts showed substantial
increases in net operating income. but
the Southern district, exclusive of the
Pocahontas section, declined 81 per
cent. The following table gives COM
PARSONS:
Total operating revenue;
1921 1890.
Eastern district, in
Guiding Pocahontas S1So. 32j .2I0 $250072 .511
Southern district, cx-
clu ling Pocahontas. Al ,90i,.I2 52,5Is.26I
Western district. 160, 0,S02 ,1ot 203,S16.520
United States. ....... 392, 1853 507,427,3 800
Total operating expenses:
Eastern district. in
cludins Pocahontas. 100. i559o3 231, 242, 500
Southern district cX-
Guiding Pocahont2s. 15O, l55,O53 4l242, BOD
Western district. 40, IA ,026 1S5.o0, 140
United States. nam. I'D, 6a4 ,6f2 46l,O02, ,532
Net railway operating inc:
Eastern District. in
cuding Pocahontas. .o.iIJ,.O3 o,22I ,ls3
Southern district, eX-
cuding Pocahontas. 3,3S9.60t 3,i10,Olt
Western district. 0,S3i.50l l,lt3,l1i
United States. ~. oo2,31S lo4lO,4o4
Officials estimate that the final net
for December for the c0i roads will be
between s40,OOO,O0o and s45.0oo,0oo. All
recent reports ranged from H2,coc.ocO
to $50, 900. 900.
The New York herald., 1922-02-16
LARGER 7. u. II. COMMITTEE.

Stockholders Of the Intorborough
Rapid Trausit Company in n special
meeting held yesterday voted 20 accept
an amendment to it's certificate of in
corporation TO permit change in It's
executive committee from five members
to not exceeding seven.
The New York herald., 1922-02-16
CURB OFFICERS REELECTED.
Old management Chosen by "Regu.
Irrr Board.

The old management Of the New York
Curb Market Association was retained
in office yesterday as a result OF the
victory at Tuesdays election OF the
regular" ticket. At a special meeting
of the board of representatives held
The New York herald., 1922-02-16

yesterday the officers were reelected as
follows:
u. X. Mccormick, president; John W.
Curtis, vice-president; Louis NJ. Teich-
man, treasurer; A. b. Sturges, secretary.
and Eugene II. Tappen, assistant secre-
tary.
The New York herald., 1922-02-16
LocoMoBILE PLANT CONTINUES

BriDGEPoRr. Feb. i5.--Operation oi
the Locomobne Company's plant here.
despite It's reccivership. will continue
without interruption, Il was officially
stated to-day by Its management.
The New York herald., 1922-02-16
BANK MERGER RATIFIED.

MONTREAL, Feb. l5.-Shareholders OF
the Bank OF Montreal ratified to-day its
merger with the Merchants Bank of
Canada.
The New York herald., 1922-02-16
$9,ooo,OoO

$9,OOO,OOO
City of Philadelphia
Twenty Thirty-Year 4A36 Bonds
DatedF February February 1852
or a anyn
Principal and deniann nsret January S and a
Of Philadelphia
in denunna aton o n
onandR stored dBndsntr rcangeabe
dehnve
Exempt from all Federal Income Existing Laws
n
Massachusetts,, Connecticut Other States
and accrued to yield dover4 Alto
Drexel & Co. Brown Brothers & Co.
Guaranty Company of New York Union Trust Company Pittsburgh
US as
b
The New York herald., 1922-02-16
UNITED STATES TREASURY STATEMENT.

Special Dispatch THE Nrw YosK Irrsnp
New York au.l
Washington u. g., Feb. rs.
The New York herald., 1922-02-16
BID AND ASKED QUOTATIONS

To the following prices accrued interest Is
20 be added:
FOREIGN GOVERNMENT AND MENICl-
PAL BONDS.
The New York herald., 1922-02-16
MONEY MARKET.
WEDNESDAY. FEBRUARY IS.

WEDNESDAY, FEBRUARY is.
Renewals. ....... Az lLast.............. 4
High. h.............. dislYear's high .... q
Low............... Years low. ........ 3
TIME LOANS.
Mixed collateral. 60 TO 30 days. ..... 4xn5
Mixed collateral. TO months. ...... lH6p5
Industriais, go 10 90 days............ 4Nd5
1ndustrials, TO months. 4N05
COMMERCIAL PAPER.
Best names, 4 TO O months hs...,., s
Other names, 20 o months. ............. 5
DISCOUNT RATES. RESERVE BANK.
Commercial paper, -15 days. Az 90 to 90
days, AZ; Liberty bonds and Victory notes
30 days, ~: 1G 10 90 days. AZ bankers
acceptances, IL 20 90 days. ~.
sFired November q Previous rate, s.
fixed September Fl.
QPEN MARKET RATES.
Call loans and acceptances. es........ zg
Discount rates on prime bankers accept
ances eligible for purchase by Federal RE-
serve banks:
Bid. Ask. Bid. Ask.
co days...... az 100 dsys...... ss
CLEARING HOUSE STATEMENT.
Clearing House exchanges ssa7 100. 900
balances, $4,000 .000 Federal Reserve credit
balances. $4,000 600
SILVER MARKET.
official bar silver IN New York. domestic
095sc., unchanged; foreign, 6Gsc. OFF &c.
london, aiNd, unchanged: Mexican dollars
bONc.. off &c.
Range OF silver prices this year:
Highest Lowest.
London. ....... 31Md., jan 3 3lisd. Feb. 10
New York;. s6Ac., Jan. 10 6issc.. Jan. Q
The New York herald., 1922-02-16
TIME LOANS.

Mixed collateral. 60 to 90 days. ...... 4xe5
Mixed collateral. TO q months. ... lH6e5
Industriais, go 10 90 days ....... 4x6b5
1ndustrials, TO @ months. ............. 4N05
The New York herald., 1922-02-16

Closing prices of stocks IN which there
were no transactions yesterday
The New York herald., 1922-02-16
CLEARING HOUSE STATEMENT
SILVER MARKET.

Clearing House exchanges 1857 100 900 :
balances. $40 800 600
The New York herald., 1922-02-16
0PEN MARKET RATES.

Call loans and acceptances. ........,. l~
Discount rates on prime bankers accept
auces eligible for purchase by Federal RE-
serve banks
The New York herald., 1922-02-16
,MMERCIAL PAPER.


Best names, 4 10 o months. hs........... s
Other names. 20 o months. ............. 5
The New York herald., 1922-02-16

neus r.p, .na pepaue, :, 80 d tune.. o. Fssruarr
The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1922-07-06
SHARP CUTS IN
THE ARMY BILL
Reduction of Standing Army
BY 5000 Enlisted Men Is
Forecast In Budget
Slash

Toxic. July s---SAzrn cuts in THE
army program were gnnouncad yes
terdsy after the approval az naval
schedule which lop-ed of 1885 tons
from former gl2ns- ReorgsniEsssc-
taazs rrovid.ng for a reduction ~ the
,arusy by Ee.eaa enlisted msn. cut os
more than twsnty per cent. wers Pre-
posed Or the var offse. AID approved
hy ths cabinet
Decreases En the number G. con-
pscfss, sauadroas and Batteries with
the s&ne nu-nher Of divisions as for
mer,y, bus listing sl-.oos men in place
Of --sfr~. ws.i effect q saving. Il Is
eEttmsted Of ysa 90 esa.esN in Il
years ard yea es.esa Go ihsresfses
Heavy artilie-y COTS xii he in
creased slightly. as wili rzil~ay, ts.e-
graph ard evszitoz sectac-s and in
taztry vNssd he sarTaea with 3 lar
ger aumher Of machine guns. with
reesaltaus srpendisnre q ven ss.eee.-
600 over a rs year period
The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1922-07-06
sAAAks WILL MAXI:
EN- TAKE NOTICE
Big Bodied, Fair Minded Mar
shall Auctioneer Is In the
Race For Sheriff; Well
Known

.Coloneg r. A. Shsnks. well
inozn Marshall arctioneer and
prosperous bassrcss nsan is in the
race Tor sheriff or Logan county -e
-cuicnci' looks like sheriff
already. In fles he was t.is, for Just
that sort Of job. F.na looking.
tall. broad saca'lered and OF
sype fy7icslly western. he commands
ycur atten sor. His acquaintance
shin in he country precincts OF the
county is proSabiy 50 Percent Of the
population and he Is fast making the
3cquaintence OF Guthrie people. He
is rspsnlican snd sssi ask the sup
forf of his party. His announcement
appears in this issue
Here Is what his home paper q,
MarshsIl seys cf hin:
Col r. A. Shauks fIle1 fnr Sheriff
Saturday. he making the fifTh candi-
cate t. enter the raee- MIR. Shsnks
is known 10 every man. woman and
xhild in this part OF the state. He
- 3 nlsn ot easy acquaintance and
he possesses pleasing personality.
With she exception OF about fcur
years, the Col. has lived In Mar
sAzll and the immediate vicinity for
about twenty-five years. He has
rad ccnssderssge success ss an auc-
sRoneer AM real estate dealer. and
Owns fine farm mile east Of
NarshaM &He says II elected he
premises to make the best sheriff
the county has ever had.
The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1922-07-06
THE MELTING POT

Mr. Albert j. Beveridge ci
Indiana. who soon will fill HI
old seat in the United States
Senate once more, spoke like ar
American, but not like scientist
when he tried TO justify the iso-
lation of the United States from
world affairs before the inter
national convention ar Kimsni'
clubs at Toronto, recently.
eve are" be said. creating
q new race in the world which
shall be known as the American
people. The job before the
United States IS the fusing Of a
collection Of rarial groups Such
. tremendous circumstance should
clearly be horne in mind by those
who assume to pass judgment on
the motives Of she American peo-
pie and the policies OF the Amerl-
can government. -
AT q convention Of distinguish
ed scientists in Washington this
spring a famous snthrOpologlst
presented detailed data TO prove
that. IL an American race Is IN
the process Of formation. the eyi-
dence at hand is so slight as to
make experts skeptical Many
centuries viii be required before
even fair start is made. he de
clared.
Mr.. Beveridge presented No
data His statemens was that Of
! philosopher and not Of scien-
tist. "
Nevertheless, il two schools Of
thought are to be formed along
this line we prefer to side with
the Indiana statesman. 1t Is in
teresting to see the good old
American doctrine Of the ''melt-
Ing pot brought before the
public again. There has been
reason to fear recently. with all
the talk about preserving the
purity Of the Anglo-Saxon race
an dso forth. that it had been
thrown into the discard
An American race is in the
process Of formati0n-let the
scientists and the Anglo-Saxoa
cultists say what they will Mr.
Beveridge is right America grew
great under the doctrine of the
melting pot" when in every
race something good was seen TO