Evening star., 1927-05-03


cages to the extent of $3,123, ,00O. 900,
railroad bonds and stock to the ex-
tent of S2,435, ,000, 900, Government OBJ
legations to the extent of s1,116,000. 900
and public utility securities to the ex'
tent of $S19 9,000,0 900.
C. A. Ludlum, vice president of the
Home Insurance Co., attacked diverse
state laws, which, he said. discrimi'
nate against insurance companies by
their requirements. The wide diver
sity the compulsory and prohibitive
, provisions of the law. he declared, de-
feat the promise of fullest service
from insurance.
Drainage developments, which, he
said, will make the Florida Everglades
the richest farm lands i'm the country,
| were reported yesterday by r.. T..
Owen, jr. manager of the Jacksonville
| Chamber of Commerce and a member
of the Florida delegation to the con-
vention. His report gives confirma-
| ton to the recent survey made by
Lieut.. Guy Kirksey of the Army Air
Corps, who reported that much of the
| Everglades country would be under
cultivation II drainage were feasible.
Financing Nears Completion.
| Mr.. owen said the financing of the
| drainage project is near completion.
| Drainage is already under way. he
| said. The building OF the Tamiami
| Trail through the Everglades is doing
| much to improve the country he
asserted.
The national councillors yesterday
| nominated II men to fill II vacancies
on the chambers board of directors.
The nominees will be formally con.
! firmed by the general session to-
morrow.
The nominees are: Stanley II. Bul.
| lard, Bridgeport, Conn; Philip Fl.
Gadsden, Philadelphia: William Cand.
Ter, Atlanta; william Pfaff. New
Orleans: J. G.. Leigh. Little Rock
Ark: Robert p. Lamont, Chicago: f.
T. Meredith, Des Moines; Dwight B.
Heard, Phoenix, AriZ.; Everett G.
Griggs, Tacoma, Wash; Charles w
Lonsdale Kansas City; Edward w
Peck, Omaha, Nebr.: John G.. Ions
dale, st. Louis; Walter M. Dabiel
Havana: II. A. Smith, Hartford
Conn; A. j. Brosseau. New York
Matthew S. Sloan. Brooklyn. and A
l.. Humphrey, Pittsburgh.
| Warning American investors to bt
cautious of lending and borrowing
In Europe, Thomas w. Lamont ol
J. P. Morgan & Co. last night traced
a frightening picture of world condi
/ tions in an address at dinner of the
American section of the Internationa
Chamber of Commerce at the May
flower Hotel. The dinner was helt
in conjunction with the convention
of the Chamber of Commerce of the
United States.
Reported competition on almost 9
violent scale" tends to insecurity anC
His warning came on the heels of one
by Secretary Hoover before the Pan
American Commercial Conference ear
lier in the day against unproductive
| loans.
Mr.. Lamont took a hopeful view OF
the Mexican problem, and commended
the diplomatic policy of President
Coolidge. He declared the American
intervention in Haiti and Santo Do
mingo had had advantageous effects
and pointed out the disastrous results
of the revolution in Nicaragua.
Europe. he said, as a result of the
Dawes Plan, now seems to be pretty
well out Of the woods" He held out
to American business the prospect
of competition from Europe greater
than ever before.
Traces Foreign Issue.
Mr.. Lamont traced in detail the
| financial situation of American inves.
tors in Latin American countries and
in Europe. OF Europe's efforts tc
| recover from the war he said:
"One can reasonably say. then. that
America has taken a generous part il
these great efforts for European re
| construction. In EACH one of these
| loans offerings in the American mar
| kets an appeal has been made to this
| investment community on the ground
of helpful cooperation in world affairs
Naturally, however, the bankers would
never have ventured to make such, an
| appeal IL they had not first CONVINCED