The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1938-03-03
Observation-Disclosures
| WHO'S NEWS
| THIS WEEK.
By Lemuel F. Parton
ACKNOWLEDGEMENTS

Oy SSmOSs Gott0u
ACKNOWLEDGEMENTS
|NEW YORK.-In 1929, at the age
~ of seventy-one, Frederick H.
Prince, the Boston banker, was still
playing polo. He has great faith in
the durability Of
Time Better men, institutions
Than Reform and governments,
for Rusiness as long as they be-
have themselves.
He left for Europe to forget about
business for a while and intimates
that it would be good thing if the
government would be similarly neg
lectful. washington should stop
trying to reform business and leave
the situation to time" he says.
Time has treated him nicely and
he may well give it testimonial.
At seventy-nine, he is the grand
seigneur of American business. Only
four years ago, he engaged in
hard-hitting SUGGEST over the con-
troll of Armour & Co.
He got what he was after-the
craftsmanship of the board. He has
many such trophies, having con-
trolled 46 railroads, and, in general,
one of the biggest cuts in the Amer
lean dream of any man of his day.
His (mainly liquid) fortune is esti-
mated at around $3.50, 200, 900. But,
for many years,
Makes Point he says, he has
of Being in made it point to
Debt AIuavs be about $40, 0O0,-
900 in debt. That
is revealing in connection with his
ideas about money and success. He
emphasizes the dynamics of money.
It isn't money unless it is working.
Stagnant money just dries up and
blows away. Hence you draw cards
even if you do have to drag a few
chips for markers.
He's a little too heavy for polo,
with a massive gray head, deep
sunken, bordering eyes, and heavy,
gray moustache; a bit grim, per-
haps, but not formidable. When,
early in October, 1929, a small black
cloud appeared on the horizon, he
viewed it with a telescope eye, saw
it for what it was, and got out OF
the market.
The cyclone never touched him.
Until a few years ago, he was still
riding to the hounds at Pau, in
southern France, master of the hunt.
He has marble palaces here and
there, one of them the former man.
sion of Mrs. o. H. P. Belmont, at
Newport. Remarking that he has
been in business SIS years, he says
this little squall will blow over in
two or three months.
THE reason isn't quite clear, but,
l. these days, the colleges compete
for tuba players as well as athletes.
DR.. Walter Albert
Iubo Aces Jessup deplores
Priced Same this and other
as Athletes phases of h e
scramble for stu
dents in the annual report of the
Carnegie Foundation for the Ad-
vancement of Teaching, of which he
is president. The fight seems to be
entirely in the field Of extra-curricu-
lar activities. No mere scholar gets
competing bids from rival faculties.
Since he became head of the Car
negie foundation, in 1888, DR.. Jessup
has been a consistent def1ationist, so
far as education is concerned. He
wants fewer and better students in
the colleges. He assails the col
leges which would "teach anybody
anything" He is against education
al trimmings, excrescences and
gadgets, as the little Scotch iron
master doubtless would be if he
were looking over the current scene.
Other leading educators join him
in this, but the big mill has to have
,x,, plenty of raw ma
Bran Null terial, to keep on
Needs RaIO grinding, or else
Material become just
crossroad plant.
So they 60 after even the tuba play
ers. At any rate, each can blow its
own horn.
DR.. Jessup was president of the
University of Iowa from 1916 to 1888.
A native of Richmond, Ind, he was
educated at Earlham college and
Columbia and gathered several
honorary degrees in later years. He
was superintendent of schools in In
diana and dean of the college of
education of Indiana university. He
has won high distinction in the edu-
cational field and is the author of a
book on arithmetic.
One gathers that he would not
recommend Benny Goodman for a
college faculty and that quite prob
ably the next Carnegie report may
find adversely on the shag, the eep-
er and the susy-q. He is for low
kicking and high thinking, as
against the prevailing reversal of
this formula.
g Consolidated News Features.
WNU Service.
Giants Short Lived