Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-24
WORK AND THRIFT
AS PROSPERITY AID
Los Angeles Banker Says
Nation viii Progress
With Industry.
Special Dispatch to The star.


NEW YORK, February 24.-"Pros-
perity, in the final analysis, is governed
by just two things-work and thrift"
says H. D. Ivey. Los Angeles banker
''There never has been az time and
there never will when we shall lack
prosperity, if our 1000, 900 people
hold fast to the determination to be
industrious and to practice thrift. which
is but a sensible application of FORE
sight"
Some time ago a statement was made
in various newspapers that some bank
ing groups in the East were planning
to enter the branch banking field in
California, and this statement was at
tributed to Mr.. Ivey. The statement
was inaccurate.
What Mr. Ivey, who is president of
the Citizens National Bank, did say
was that business opportunities were
such in California that some OF the
larger Eastern industrialists were plan
ming to invest a considerable amount
of money in the southern part of
California.
mo banking institution incorporated
outside of the State of California can
enter the banking business legally In
the State" says Mr.. Ivey.
University presidents today are pri-
marily executives. Scores of American
universities have from 500 to 1000 fac
ulty members.
In State universities presidents are
often selected for their ability to get
along with State legislators. Where en-
dowments are small-as they are in
State political tact in
dealing with the tax-spending authori-
ties is necessary.
What is the average age of uni
versity presidents today lin the leading
centers?
Nicholas Murray Butler of Columbia
is 81, A. Lawrence Lowell of Harvard,
10; John c. Hibben of Princeton, So;
Livingston Farrand of Cornell, 50;
William w. Campbell Of the University
of California. 81; Samuel Wesley STRAIT
ton of the Massachusetts Institute of
Technology, So.
The Middle West seems to have the
youngest presidents. Glenn Frank of
the University of Wisconsin is AZ; E. H.
wilkins of Oberlin, 40; Lotus D. Coff-
man of the University Of Minnesota,
SIS. C. C. Little resigned as president of
Michigan at 40, to be succeeded by
Alexander o. Ruthven, Al. And Robert
NJ. HutchinS, University of Chicago, the
youngest president, is 80.
Here are the ages of a few of the
others: Rufus B. Won KleinSmid of the
University of Southern California, So:
William P. Few of Duke, 81; Walter
Dill Scott of Northwestern, 60; David
Kinley of the University of Illinois, So;
Josiah H. Pennirnan of the University
of Pennsylvania, SO; Joseph S. Ames OF
Johns Hopkins, IS; Ray Lyman Wilbur
of Stanford, 50, and James r. Angel
of Yale University, so.
President Lowell Of Harvard is one OF
the few college presidents who first
went out into the business world, prac-
ticed law, then re-entered the ranks OF
education.
Seek Copper in Africa.
British interests are exploring Africa
these days with the aim of locating
copper deposits, as well as lot of other
things.
Two of their expeditions are about to
begin surveying RhodeSia and the Sudan,
where nearly 100000 square miles Of
unmapped territory are to be mapped
and photographed. A Photographic
map. using about $4,000 photographs,
constructed on scale of four miles to
an inch, will be pieced together by these
expeditions as part OF the survey job.
1t will take fully 18 months to do the
work. In the days before airplaneS, at
least Is years would have been required.
The Rhodesian survey is expected 10
reveal the outline of a very rich copper
district. British interests in Africa are
already producing much copper, but this
new survey is expected to show other
rich deposits.
American copper interests, which con-
troll a vast amount of copper in the
United States and South America, are
watching the expansion of British cop
per production with more and more
interest.
Canada's War Debt.
Canada has buckled down to pay her
war debt. Her 10000, 900 of people have
heavy taxes for current expenses, but
each year her total funded debt shows
a slight decrease over the preceding
3 year.
For the calendar year just closed the
funded debt was decreased little more
than $4,000, 000-from $2,362, 852, 900, at
which it stood December 81 1928, to
$4,000, 594, 600 at the close of the last
+ calendar year.
(, The figures furnished by the Canadian
/. department of finance show that there
!. were increases of nearly $4,000, 900 in
( Dominion notes and nearly Sc. 10000 in
government annuities, insurance and SUI
/. perannuation funds, as well as a de-
!; crease of about So, SOC, 900 in the deposits
{ of post sffice and Dominion government
{ savings banks.
Canada's credit ranks among the best
I in the worlds market cenUers.
T (Copyright, 1880. by North American News
paper Alliance)