Evening star., 1934-02-26

Close on the heels of the recent
| startling revelations Of how colossal
! corporation funds were used for specu-
| lative loans in Wall Street comes the
report prepared for the Senate by the
Federal Trade Commission on SAL
| aries paid to executives by corpora
tions whose securities are listed either
on the New York Stock Exchange
or Curb The prediction is hazarded
that the facts and figures will stagger
the country. The report is the fruit
of a resolution introduced into the
Senate last year by Senator Costigan,
Democrat, of Colorado. AS in the
case of the twenty billion dollars Of
corporation Street loans" in 1929, the
money paid in fancy salaries to execu-
tives is derived from funds that would
| otherwise be available for distribu-
ton either to workers or stockholders,
or both. In an era Of curtailed or
passed dividends the stockholders
community is likely to look upon the
cial practices as bordering on the
shocking. Prompt reaction In Con-
gress is expected
Amid its varied and absorbing pre-
occupations in other fields, the Fed
up by May 1 its investigation of pub
lie utilities, an inquiry which has
been in progress for the better part
of the past seven years. The pres
ent hope is to submit report to
| the Senate by July l. The invest1ga-
! ton was instituted under resolu-
ton sponsored by the late Senator
Thomas ]. Walsh, Democrat, of Mon
tana. No present member of the
| commission was in service when the
utilities probe set in, but the COM
missions chief counsel, Robert E.
Healy, has been on the job from the
beginning and is given the lions share
of the credit for the unprecedented
thoroughness with which the nVes-
tigation has been conducted. Already
the reports of the hearings comprise
a small library of 40 separate volumes.
X X X
When his grace Prince 1yesato
Tokugawa, former President Of the
,Japanese House of Peers, reaches
Washington on Wednesday, his first
| call will be on John Barton Payne,
chairman of the American Red Cross,
because Prince Tokugawa, as chair
man of the Japanese Red Cross, will
be host next October to the fifteenth
International Red Cross Conference in
Toxic. Judge Payne and a distin-
guished company of American dele
gates will attend the conference. The
| American Red Cross executive and
Prince Tokugawa are old friends, hav-
ing met at many international Red
| Cross conferences abroad, as well as
in Japan, when Judge Payne went
there in 1927 for the conference OF
Oriental societies belonging to the
League of Red Cross Societies, OF
| which the American is international
chairman. Prince Tokugawa will be
| guest of honor at a reception at
| American Red Cross headquarters in
WASHINGTON on the afternoon OF
March /.
| X X \ X
Everybody who knows Senator
Borah intimately is conscious OF the
deeply sentimental side of his nature.
Once upon time he and Mrs. Borah
were Sunday luncheon guests at a
country place in Virginia. They ar
rived an hour late. Apologizing, Mrs.
Borah explained: "Our pet bird died
last night. This morning the Sen
ator buried it in Rock Creek Park,
alongside his favorite riding path: He
got home later than we expected< and
that's why we were held up"
X
Newspaper men asked President
Roosevelt one day last week what had
brought Vice President Garner and