Five Mile Beach weekly journal., 1922-10-13

marking at Vadivostok. 3-Monu-
nber IL.
cancellation of orders with entire alb
sence of fresh demands. On the Lon
don market Wednesday German marks
struck a new low level. About 1900
OF them could be bought for a dollar.
THE American Bankers associa-
l. ton, in annual convention in New
York, was addressed on the subject of
the allied war debts by Rt. Hon. Reg
inald 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 creditors. Mr.. Nc
Kenna warned his hearers that IN 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 a 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
tons unable to meet their debts in
full.
After a warm debate, the asSocia-
ton adopted by a viva voce vote a 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
H.. Puelicher of Milwaukee was elect
ed president Of the association.
OVERNOR HARDWICK of
~ Georgia vas DESTROYS that his
state should be the first to have a
woman United States senator, so he
appointed to succeed the late Tom
Watson, Mrs. William 81. FELTON,,
eighty-seven years old and dis
tinguished for her work in the causes
Of temperance and woman suffrage.
AT the same time Mr.. Hardwick an
nounced himself a candidate for the
u~nexpired term of Watson. The cleo
ton 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 en-
titled to the salary and to the frank
ing privilege and other prerogatives.
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 a governor.
THAT the prophecies Of another
L coal strike next spring will be
fulfilled vas made fairly certain by
the action of the policy committee of
the United Mine Workers Of America
Wednesday. 1t reaffirmed the demands
Of the February, 1922, convention of
the union in Indianapolis, demanding
the continuance Of the present wages
in coal mines until 1925, and, in addi-
ton, the six-hour days and fve-day
week, time and one-half for overtime
work, and double time on Sundays
and holidays.
According to a bulletin sent out by
B. NJ. Jewell, SO railroads, operating
about $4,000 miles of line and employ
ing between $4,000 and 40, 900 mem
bers of the shop crafts organization,
have settled the shopmen's strike with
their system declarations. The latest
road to join the peace ranks is the
Chicago Great Western.
FOREST fires in northern Ontario
1 have destroyed the mining towns
Of Haileybury, North Cobalt, Charl-
ton and Heaslip, and several other
towns have been partly burned. More
than 5000 persons were rendered
homeless and there was considerable
loss of life. Refugees from Haley
bury arriving at North Bay said be-
tween so and 100 persons were
drowned when they were crowded
from a dock while trying to board a
rescue ship.
Northern Minnesota also is suffering
severely from forest fires, some small
settlements have been wiped out and
many more are threatened.