The midland journal. (Rising Sun, Md.) 1885-1947, 1926-11-05
NEWS REVIEW OF
CURRENT EVENTS
President Coolidge Links
American High Wages
and Prosperity.
BY EDWARD w. PIckARp

by 6OWAnO W. FISNAnO
DREsIDENT COOLIDGE, address
ing the American Association Of
Advertising Agencies, and, through
the radio, many millions of other citi-
zens, declared that our system Of high
wages is one of the chief factors In
the nations prosperity. He said 1t
has brought about the greatest dis
tribution Of wealth that the world
has ever seen and provides the enor-
nous capacity for the consumption Of
all kinds of commodities which char
acterizes our country"
IF we proceed under our present
system" he added, there would APP
pear to be little reason to doubt that
we can continue to maintain all of
these high standards In wages, in out
put and In consumption indefinitely
and, with our home markets as foun-
dalton, increase our foreign commerce
by greater exchange of those COM
modities in which we are peculiarly
favored for the commodities of other
nations in which they have special
advantage. But nothing would appear
to be palmer than that this all de-
ponds upon the maintenance of our
American scale Of wages. which is the
main support of our home market"
The Chief Executive made an appeal
for exact truth in advertising. and
complimented the advertising profess
sion for Its contribution to happy
and prosperous country, adding that
without constant publicity modern
business could not be conducted on
Its present gigantic scale.
GALE to the Chemical Foundation,
~ Inc.. of German patents seized
during the war. is declared by the
United States Supreme court to have
been In accordance with the law, au-
thorized by acts Of congress and Of
President Wilson. and therefore valid.
The government in its suit had alleged
that the price paid for the patents
$271 ,00G-was wholly inadequate and
should have been at least $7,000,O00
The court finds the Chemical Founda-
tion was properly formed as in effect
public trust for those whom the
patents would benefit and for the pro-
motion of American industries and
that in the sale of the patents no
conspiracy, fraud or deception was es-
tablished by the government.
TT THE federal trade commission
1 does not object. one of the biggest
Industrial combinations of recent
years probably will be consummated
soon. This is the merger of Sears,
Roebuck & Co., and Montgomery Ward
& Co.. the huge Chicago mail-order
houses. 1t is understood an outline
of the plan already has been laid be-
fore Secretary Of Commerce Hoover
and that he said his opinion was that
the government would consent to the
merger The tentative plan is said
to be the formation of new corpora
ton to absorb the present companies
and an exchange Of stock of the con-
Germ for that of the old ones. The
proposed corporation would have as
sets of about $3.50 100000, and an an
nual business volume approximating
$3.50, 100000. 1t is estimated the merg-
err would effect a saving of ten to if
teen millions year in operating ex-
penses. The largest interest in Sears,
Roebuck & Co. is held by Julius Ros-
enwald of Chicago and in Montgom-
cry Ward & Co. by the J. P. Morgan
First National bank group Of New
York. $1,000
a S FURTHER information comes
"A concerning the recent earth
quakes in Armenia the disaster stands
out as one of the worst of recent
times. The death list increases stead
fly and may run into the thousands
The city of Leninakan and numerous
smaller towns were ruined and prob
ably 100000 persons were rendered
homeless. The Near East relief
forces in the Caucasus under the di
rectlon Of DIR. Joseph Beach are car
ing for many OF the destitute, ant
The government Of Russia has sent 9