The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-12-21

oSPoSidAy ldVOTeu. his sustained IN
vestment has upset the calculations Of
the out-and-in traders. They complain
that all well regulated upward move
ments are interspersed withs occasional
sharp dips and that this market has
not behaved as it should.
In my humble opinion the outside in
vestors have been reading this country's
prospects better than have those who
have been selling stocks they did not
own.
I understand that the federal reserve
authorities have no present intention
of marking up official rediscount rates.
They reason that nothing has devel-
oped thus far to warrant interference
by them in the form of applying any
brakes.
In cours Of a chat the other day with
George F. Baker, 1 mentioned the fact
that his little speech to the members
of the New York Bond club made a
great impression upon the younger
to cultivate and exercise the most
scrupulous integrity. Mr.. Baker re-
marked:
"If I said anything which will have
an influence of the right kind upon
the young men now coming forward,
that was much more important than
that they should have paid me so cor
dial a tribute"
We got talking of the late ]. P. Nor
gan and when 1 asked Mr.. Baker what
were some of the most notable things
Mr.. Morgan had accomplished, it was
characteristic Of Mr.. Bakers make up
that of the three achievements he
named all had to do with signal pub
lie services Mr.. Morgan rendered at
critical times in our financial history.
Useful service obviously is rated higher
by Mr.. Baker than any mere money
making achievement
President Coolidge is being urged to
consider the advisability of selecting
experienced business men when he
makes cabinet changes on March or
later. Although he has never engaged
in business, President Coolidge has
a high regard for the ability of men
of the Mellon and Hoover type. The
expectation Is that one or two other
business men of ripe experience will be
invited to join the cabinet. One auto
mobile journal mentions c: s. Mott,
the principal General Motors executive
at Detroit, as a cabinet possibility.
Mr.. Mott is not only born executive
who has to his credit long record Of
constructive and successful work, but
he has always taken a keen interest
in public affairs, having served as
mayor of Flint when quite young. Pre-
sumably, Mr.. Mott could be induced to
lay aside his enormous responsibilities
to take up duties on behalf of the
public.
The cabinet could stand one or two
more men of Mr.. Motifs calibr1e.
Detroit rises to say that 1t, not New
York, has the youngest bank presi-
dent of importance in America. Refer
ring to the recent column on the ages
of our principal business and bank
leaders, Frank ]. Campbell Of the First
National bank, Detroit, writes:
at is probably our fault that you
have not known about Mr.. Laurence
Smith, president of the Central Saw
Iings bank, Detroit, which is under the
same ownership as the First National
bank in Detroit.
"Mr. Smith was 80 in June, 1924.
From our financial statement you will
note that the Central Savings bank has
resources of nearly thirty million dol
lars.
These two circumstances, we Delleve,
give Detroit the distinction Of having
the youngest president in the United
States of any of the major banks. Are
we not correct?"
So far as 1 know, yes. But otner
cities may be heard from.
Philadelphia still is secure in its
place as the third largest of our cities.
Los Angeles and Detroit both aspire
to this honor, but they are very long
way behind Philadelphia. The latest
statistical survey gives Philadelphia
population of 2,006,137, an increase of
ID s., 1878, or 10 per cent, since 1920, while
the increase in the city's metropolitan
3area is computed at $4,000. Vaudeville
iokes do not fit the Philadelphia or
Today any more than do vaudeville
iibes fit the Erie railroad OF today.
Add Seattle to the list of American
cities now possessing magnificent new
hotel ranking with the best in New
york and Chicago. The Olympic, just
4opened, should prove as strong mag
met for Seattle as the wonderful new
Baltimore is proving for Atlanta. A
Surprisingly fine hotel is city's best
advertisement
Good realty investments are found
Through Age-Herald Want Adds.
HWT7@HEH7T1Kvz