Evening star., 1927-03-13
IDA GILBERT MYERS.

MAIN STREET AND WALL STREET
BY William Y. Ripley, professor of
political economy Harvard Univer-
sity. Boston: Little. Brown Co.
NJ AIN Street and Wall Street
Nh used TO be separated by an
VI impossible distance. Nova
L days. however, they stand
face to face, only narrow
roadway lying in between. Such
changed relationship is but an essen
tial part of the general world shrink
age caused by ready and varied means
OF communication, whose 1iberating
effects in every direction are breaking
down many old barriers.
The specific content of this title IL
that of the two basic elements which
comprise every great modern industry
These are ownership on the one hand
control on the other. Main Street in
this connection, covers the multitude
that in such clear bulk at the present
time put up the money which makes
modern enterprise possible. 1t refers
to tls--to millions of you and me
who buy shares of stock. many or few
in this or that concern, or VINO make
other investments under the promise
OF both security and fair return We
are Main Street. We are the sources
dustrial corporation. We are. In ef-
feet, the collective owners of this cor
poration. Wall Street stands for the
corporation itself, embodied in di
rectorship of control. This corporate
head of the concern finances the prof.
ect, which means that 1t collects the
wherewithal, after which it controls
and directs the use of this in the in
terest of the enterprise in hand.
It turns out, therefore, that Main
Street and Wall Street are so inter
locked in purpose and in fact as TO
make the second of these the imme-
diate and vital concern of the first.
Prof. Ripley here takes up the work
of reducing the business corporation
to these two interdependent elements
of ownership and control. What IS
each? What is its proper function?
What is the legitimate reciprocal bond
and obligation between them?
An imperative need for clear and
authoritative exposition of the situa-
ton is obvious. For more and more
is the average man, the man or small
savings, coming to be partner IN
corporate business. More and more
is he. under this promise and that,
being urged to bring his savings INTO
these concerns for investment. Limit
ed both in his savings and in his bus
mess experience, this average man
needs help in a field where a dense
general ignorance is the rule among
investors Hearsay shining OFFERS,
cryptic reports, are not good teach
ers of modern business to the unway-
wise and unwary.
main Street and Wall Street
seeks to clear away the obstructive
of the matter in order 10
set the modern corporation clear In
it's two essential parts of ownership on
the one hand and control on the other
Prof. Ripley's method is the best
in the world for this purpose. indeed
the only one calculated to light up
the subject. An objective method
each feature and aspect OF
the CORPORATION as the modern instru-
ment of enterprise. Every legitimate
purpose of it is demonstrated by this
or that one. Every ques-
tionable measure also is set out in the
name and practice of the corporation
making use of 1t. Actual examples
not made-lp ones, drawn from every
part of the country are brought into
this service of exposition. Every
investor can, to a degree, check up
on his own corporation here, and that
is as it should be. This author, as
authority, is beyond question. No end
of proof exists as to that. AS an ex-
positor he is simplicity and clarity en-
bodied in speech. AS man of fair
mind. with no cudgel out for capital
and such other outworn slogans. he
stands unchallenged as this book
proves. Here is an entirely construc-
tive study on subject OF great I'M
portance to the people as whole
Its appeal is general and strong.
This book ought to be made the oc-
casion for innumerable study clubs all
over the country to get clear, sound
impartial, practical facts about the
nature and purpose and proper man
agement of the corporation, that
Main Street and Wall Street of mod
ern business.
WAR BIRDS. Diary of an Unknown
Aviator. Illustrated by Clayton
Knight. New York: George ri.
Doran Co.
EIRST let's read the editors note
l. at the close of this book: Here
the diary ends due TO the death OF Its
author in aerial combat. He was shot
down by a German plane 20 miles
behind the German lines. He was
given a decent burial by the Germans.
and his grave was later found BY the
Red Cross"
The diary begins like this: "Septem-
ber 20. 1917 Aboard r. M. S. Car
mania in the harbor or HahIaX.
THE last record is a half joking refer
ence to luck charms against the dis
a ster that, clearly, is creeping into
the forefront of the young flyers
mind "A stocking to tie over my
nose and a Columbian half-dollar, and
that last sixpence and a piece of my
first crash seem to take care OF me
ali right, tho I'm not superstitious"-
> nd then he took the long, long. one
way flight.
In between these two entries all of
youth is spread out with a free hand.
Here are buoyancy, certitude, lack
of fear and care. Today is the day
let's have 1t TO the brim. A beautiful
canacity for friendship stands here,
pride in the other fellow and love
for him. An equal gift for straight
seeing. too. that regardless of orders
q nd ranks. cuts to the bone of mill
tsrv folly wherever 1t comes under
the eve of this boy. Not, ever, pass
inc Judgment on the conduct of the
greaf movement-this boy is too sens
ihla for that. Instead, he fiicks
sbarnIy the small tyrannies of the
nettv officer, the injustices of limited
he goes away, laugh
ing. to play with the boys and girls,
in the between whiles of active duty.
pictures. hundreds of them, vivid as
YOUR own face in the glass. are given
here with open hand to objectify
every day in it's activities. and in the
and spirit lying back of these
routine duties of war. Then. slowly,
there comes the sense of doom-so
roanv killed every day in flight. Oh, |