The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1922-08-04

graham of New York and Judge Gray
Of Delaware rad charge Of drawing
our charter and our trust agreement
and our certificate Of interpretations
We have endeavored to make It an
nearly public Institution as our laws
allow, and at the same time to have
II an official organization, We wanted
to sell these patents to the govern
ment, and If there had been any
method by which we could make them
a working force and still have them
owned and controlled by the govern
ment, 1t would have relieved US Of a
great deal Of responsibility, and II
there is at this time any suggestion for
modification or amendment Of our plan
which will insure In the minds Of the
committee more definite and certain
fulfllment of the intention and pur-i
poses Of our organization am certain
that the Chemical Foundation and all
its stockholders and all who are inter-
ested In 1t would be glad to conform
\ to the wishes Of the committee, be-
cause, in so far as we have public rec
ognition and public support and gov
eminent recognition and government
support, we become more efficient and
'tentions which are In our hearts and
minds"
Mr.. Caravan states that the total or
gross income OF the Foundation has
averaged $143, 216.65 per year. The run
ming expenses, bare overhead, have
averaged 1921 ,971.35, net excess Of
$21 ,245.S0 or .049 per cent on the $428,-
600 invested. allowing nothing for de-
~ 20 "a ~
patents Is eight years, so that 121al
per cent of the $271 $50 cash paid for
the patents, or $39,9S1 per year,
should be subtracted from the appar-
ent net receipts per year, which leaves
an actual annual operation deficit Of
So, 735.70. In educational work, Mr..
Garvan informs the President, the
Foundation has spent 1924, 017.S5, the
entire balance Of Its capital.
Quotes English Prediction
. Firmly maintaining that the Founda-
tIor Is the keystone Of the wall raised
to protect the American people from
German chemical domination, Mr.. Gar
van maintains such protection Is lndis-
,pensable to the future happiness, health
and safety of the American people, and
quotes from a recent open letter to
parliament written by James Morton,
largest carpet manufacturer Of Eng
land, "0rganic chemistry is the key to-
the world of new values, and that
America in five years time will have
dye works and general chemical works
equal to Germany.
As regards the development Of or
ganIc chemistry for national defense,
Mr.. Caravan calls to his aid testimony
by Marshal Foch and the late Field
Marshal Sir Henry Wilson to the gen.
eral conclusion that a nation thorough
ly equipped chemically may almost
guarantee the peace Of the future. And
as regards its Importance in the de-
velopment of medicine he quotes Prof.
julius Stiglitz of the University Of
Chicago, world famous chemist:
"The pitiful calls Of our hospitals for
local anaestheties to alleviate suffering
on the operating. table, the frantic APP
,peals for the hypnotic that soothes the
epileptic and slaves off his seizure, the
almost furious demands for remedy
after remedy that came In the early
years of the war, are still ringing In
the hearts Of many Of us. No wonder
that our small army of chemists is
grimly determined not to give up tho
independence in chemistry which the
war achieved for usl Only widely
enlightened public, however, can in
sure the permanence Of what far see.
ing men have started to accomplish
in developing the power of chemistry
through research In every domain
which chemistry touches"
"These," Mr.. Caravan concludes.
were the thoughts which were in the
minds Of the men who knew the war
and Its lessons when they formed the
Chemical Foundation"