The Holly chieftain., 1922-10-12


lber II.
cancellation Of orders with entire alb
sence Of fresh demands. On the Lon
don market Wednesday German marks
struck new low level. About 1900
of them could be bought for dollar.
THE American Bankers associa.
1 ton. In annual convention In New
York, was addressed on the subject Of
the allied war debts by Rt. Hon. Reg
inall Mckenna. former chancellor of
Great Britain. and now chairman Of
the largest bank in the world. He
said England was able to pay her
debt to the United States In full and
would do SO, but he suggested that
the bankers use their influence In
favor of postponement of payment by
any others Of our creditors. Mr.. Nc
kenna warned his hearers that an at
tempt to enforce payment of the war
debt beyond the ability of the debtor
nations to pay would be fraught with
the most serious consequences for the
United States. as well as the countries
of Europe. There would be an inev-
liable injury to the International
trade Of the whole world, reduced
profits, lower wages, and unemploy-
ment, lower standards of living.
AS solution of the problem he
suggested that "a full and frank" con-
ference between the debtor and cred
itor nations should be called In order
to discover the exact amounts that
could ultimately be paid by the ma
tions unable to meet their debts In
full.
After warm debate. the associa.
tion adopted by viva y0ce vote res.
olution declaring that "it viewed with
alarm" the tendency toward the es-
tablishing Of branch banking in the
United States and expressed Its oppo-
sition to any branch banking In any
form BY either state or national banks.
The banks Of the towns and smaller
cities were far too strong numerically
| for the big bankers who protested that
branch bank system must prevail. John
II. Puelicher Of Milwaukee was elect.
ed president Of the association.
| IGOvERNOR HARDWICK Of
~ Georgia was desirous that his
state should be the first to have
woman United States senator, SO he
appointed to succeed the late Tom
Watson, Mrs. William H. FELTON,,
eighty-seven years old and dis.
tinguished for her work in the causes
of temperance and woman suffrage.
4 At the same time Mr.. Hardwick an
nounced himself candidate for the
unexpired term of Watson. The cleo
tiOn is to be held November z and
there is no chance for Mrs FELTON, to
qualify before that date by taking the
oath of Office In the senate chamber.
Authorities in Washington are wonder.
ing whether or not she will be Ell.
titled to the salary and to the frank
Ing privilege and other prerogativea.
Anyway, she has the distinction of be-
Ing the first woman to be appointed
United States senator with credentials
duly made out and sent to Washington
by governor.
tTHAT the prophecies Of another
! coal strike next spring will be
fulfilled was made fairly certain by
the action Of the policy committee of
the United Mine Workers of America
Wednesday. 1t reaffirmed the demands
0f the February. 1922, convention of
the union In Indianapolis, demanding
| the continuance of the present wages
In coal mines until 1925, and, In addi-
tion, the six-hour days and fve-day
week. time and one-hnlf for overtime
work, and double time on Sundays
and holidays.
According to bulletin sent out by
B. NJ. Jewell, SO railroads, operating
about $1,000 miles Of line and employ
ing between 125.OO0 and 10000 mem
bers of the shop crafts organization,
have settled the shipments strike with
their system declarations The latest
road to Join the peace ranks Is the
Chicago Great Western.
EOREST fires In northern Ontario
= have destroyed the mining towns
of uaileybury, North Cobalt. Charl-
ton and Heaslip, and several other
towns have been partly burned More
than 5000 persons were rendered
homeless md there was considerable
loss Of life. Refugees from Haley
bury arriving Mt North Bay said be-
tween 80 and 100 persons were
drowned when they were crowded
from a dock while trying to board n
rescue ship.
Northern Minnesota also is suffering
severely from forest fires. some small
settlements. have been wiped out and
many more are thrcutened.