Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-12-31
FINANCIAL LEADER
IS RETIRING TODAY
James S. Alexander Has Been
Active in New York
Banking Field.

Active in New York
Banking Field.
BY JOHN r. SINCLAIR.
Special Dispatch to The Star.
NEW YORK, December 31.-When
James S. Alexander, chairman of the
Guaranty Trust Co., leaves his desk at
the close of business today he will
have concluded so years of active busl-
ness and 80 years as an officer of the
National Bank Of Commerce of New
York.
night-for keeps. Along with his bank
resignation goes a score of others from
important corporate boards Of direction.
He Is a director at the present time
of the American Agricultural Chemical
Co., the American Telephone 81 Tels-
graph Co., Campbell Soup Co., Pacific
OIL Co., Prudential Insurance Co.,
Southern Pacific Co., United States
Rubber Co., Mercantile Stores Co., as
well as a trustee of the Bank for Saw
ings.
Since Mr.. Alexander took over the
leadership of the Bank of Commerce its
resources have been tripled. He was
very active in the Liberty loan drive
during the war, and has been director
of the Federal Reserve Bank of New
York.
With only an elementary school edu-
cation, he began work at the age OF
Is in a dry goods store In Tarrytown,
N. Y. Three years later he took \
position in the local bank and in
another three years he became assist
fn 10 moved
New York, where he rose to the top.
Probably the ablest, most far-seeing
banker that New York has had in u
generation-and mighty level-headed,
too" said another great banker to me
concerning Mr.. Alexander's resignation.
AS big bankers go today, he is still
young-64. From this time on his great
powers will be used in other channels
than those Of pure business.
But business New York-big, imper-
sonal, pulsating with new ife-wil miss
him, too.
Has a vault been built yet which
cannot be forcibly opened? The an
Swer Is no.
Henry M. Robinson tells of putting
the question to distinguished vault
engineer, man who had made some Of
the stoutest in existence.
which to build vault and there would
still be half a dozen men in the world
who could open and rob it, was the
reply.
The two weapons used in safework-
ing-the fluxing rod and the oxygen
lamp-make an absolute defense to the
strongest vault impossible as yet.
The oxygen lamp has been known for
some time. 1t consists of long small
iron pipe through which oxygen gas
is forced. The contact end of the pipe
is heated red hot by a cutter, and the
hot iron ignites in the oxygen and flares
so fiercely that it burns its rays straight
through anything.
But nowadays important vaults are
situated in such concealed places and
guarded with such care day and night
it becomes almost an impossible task
even to get to them from the outside.
A "robherproof" vault will be con-
structed some day. But so far it has
not made its appearance.
James M. Beck, one-time Solicitor
General of the United States, now
Pennsylvania Representative, Is worried
about the American Constitution.
Against the steady cumulative, persist
ent Capitalization Of political power in
the hands of the Executive he utters a
and the political world, too.
This trend Representative Beck would
arrest. The growing power OF recent
Presidents of the United States, accom-
panied by the unmiStakable whitening
of power in the Congress, he believes is
fraught with great danger to American
institutions.
And in the matter of giving the Presi-
dent arbitrary power and authority TO
raise or lower the tariff rates on any
schedule so per cent whenever he deems
expedient, the Pennsylvania congress-
man characterized las an absolute sur
render of basic principle Of Anglo
Saxon liberty"
Congressman Beck is recognized as
one of the leading authorities in the
United States on the American Consti-
tuition.
electricity provided from central sta
tons? Figures show a rapid increase
in the last five years. In 1924 in the
State of Illinois there were only 2,201
farms so equipped, as against 1924 at
the beginning of 1929. Indiana now has
1888 farms so equipped, and California
has $4,000.
The total for the whole of the United
States is estimated at 100000 as con-
trasted with less than $4,000 five years
ago.
One advertisement posted in the coun-
try districts of the Middle West reads as
follows:
"Ten cents spent for electricity will
perform one of the following: Cook for
persons for day, do the family
washing for / week, run the vacuum
cleaner for 10 hours, operate the milking
machine i hour ana 20 minutes, sepa-
rate 1900 pounds of milk, heat up 1853
incubators for days, cut 2-3 cords of
wood, pump 500 gallons of water, cook
refrigerator for IL hours"
While one authority reveals 900 pos
sible uses for electricity on the farm, re-
search laboratories are showing new
uses constantly.
At the New York College of Agricul-
ture an electric door was recently in
vented which kills 10000 to IS 900 flyS
and insects daily as they ny against the
door,
When electricity enters the farmers
front door. drudgery quickly leaves at
the back door.
Copyright, 1929, by North American News
paper Aliance)