The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1929-09-20
misMK
~ AZ
BY Arthur Brisbane
The Warship Question
Cheaper Cars Coming?
Standard and Shell
Diamonds From Sugar

SSoAASAoA ~ sAAS SAACAA
Diamonds From Sugar
Ramsay Macdonald arrives soon TO
talk over ornaments at sea. He prob
ably comes prepared to ratify official
ly program already agreed upon,
substantially. He would not want to
return with nothing after Snowden's
triumphant round trip to The Hague.
The British, well informed by their
separate air department, care little
about surface ships for any future
war. They know that ships will cut
no figure.
But they have 10000 miles of sea
coast to patrol in their empire. Their
cruisers are really floating forts or
police stations. boarding houses for
marines that can be landed when
needed. then moved on to soothe the
next troubled spot.
If the President would establish a
separate air department, appointing
q head engineer with others under
him, all controlled by Engineer Hooy-
er, to develop new ideas, Uncle Sam
might not spend his life copying Ger
many, Italy and Britain. And we
would not worry about warships.
Alfred p. Sloan, Jr., president of
General Motors, told stockholders he
bought "a substantial interest" In
Opel, great German automobile con-
Germ, to develop German manufacture
Of automobiles rather than supersede
1t with organization and methods en-
tirely American.
This country depends largely on ex-
port of manufactured articles, it is,
therefore, interesting to hear from
Mr.. Sloan that in Europe his COM
pany in 1928, in dollars and num-
Der Of units. sold more automobiles
than any European concern manufac-
tured.
Mr. Sloan plans for Europeans the
kind of car they want at a price they
can afford. Not SO rich as we, they
do not demand so much luxury.
Mr.. Sloan, Mr.. Ford and others in
this country may need to produce
here cheaper car than any now Of
fered.
General Wood, head Of Sears, Roe
buck, plaI a car for $780, Henry
Ford years ago showed the writer
small, powerful engine, made for Il
car to sell at $3.50. He probably has
kept the plans for that product.
Professor Hershey of Mcpherson
college told scientists at Minneapolis
that genuine diamonds Of superb col
or can be made by subjecting ordinary
table sugar to a pressure Of ten tons
to the square inch.
He has produced such diamonds In
his laboratory.
In another laboratory, the senate,
Mr.. Smoot is about to prove that he
can produce for friends enough money
to buy all the diamonds in South
Africa by subjecting ordinary table
sugar to tariff pressure Of two cents
or so per pound.
Standard and other oil stocks have
been going up despite the British in
vasion by Shell" The 24,754,a,TT
shares of Standard Oil Of New Jer-
sey are worth about two billion dol
lars now.
That is just one fragment of old
Standard Oil. built up by Mr.. Rookie
Teller and chopped into pieces by a
rampageous government because it
was supposed to be worth nearly
billion" altogether.
What old Standard is really worth
now, nobody knows. Including oil in
the ground, ten billions probably
would be reasonable price.
Mellon, needing $5O0,OOO,OOO for
Uncle Sans use, invited subscriptions
to treasury certificates. He was Of
fered $1,4S6, 100000. almost a billion
more than needed.
He did not pay 8 per cent, or the
Federal reserve 6 per cent discount
rate, either.
Mr.. Mellon could have bought the
$500, 100000 of certif .ates himself, and
saved on income tau But he avoids
all business connected with govern
ment. And besides, he knows how
to invest more prof1tably.