The McDowell times. [volume] (Keystone, W. Va.) 1904-1941, 1941-03-14
WHO'S
NEWS
THIS
WEEK
By LEMUEL F. PARTON

BY LEMUEL F. PARTON
consolidated Fcatures-wNU Service
NJ EW YORK.-Robert A. Lovett,
New York banker and World
war flying ace, gets the news spot
light as a possible aviation pro-
duCtion czar,
Young Financiers after two
Are Spinning Our months serv-
Defense Wheels ice with the
ment in which he has shown ex-
traordinary capacity for slashing
red tape and getting things done.
His father, Judge Robert S. Lovett,
was head of the war industries
board in the World war.
When he was summoned by
the war department, MIR. Lovett
withdrew from the New York
banking firm of Brown Brothers,
Hartman and Co. A few months
earlier, the also comparatively
young James V. Forrestal, MIR.
Lovett's friend, and bracketed
with him among the up-and-
coming young financiers, left the
presidency of Dillon, Reed and
Co. to become undersecretary Of
the navy. Years before, their
Wall Street running mate, Aver
i'll Hartman, had moved into
the Washington picture and just
now appears to be pegged as the
liaisOn between British and
American business in the
Fastening crisis.
There is a complaint from the
bankers themselves that bank
money is on the sidelines in the de-
tense crisis, if that's what it is, but
at any rate the bankers are in the
lineup, particularly the younger
set, serving the army, the navy
and the department of state, as
above and in many other in
stances.
They let by-gones be by-gones.
Mr.. Hartman was an early convert
to the New Deal, while Mr.. Lovett
is dead-set against it, But that's all
water under the bridge.
Mr.. LOvett and MIR. Hartman
are both small-town boys, the
former from Huntsville, Texas,
and the latter from Beacon, N.
j. Mr. Lovett, rather slight In
stature. good-looking, an easy
going, tactful executive, was
graduated from Yale in 1918 and
pursued postgraduate business
studies at Harvard in 1920 and
1921. Then he took over where
his father left of in running the
Union Pacific, the Oregon Short
Line, the Oregon-Was hington
and the st. Joseph and Grand
Island railways, picking up a
Few important industrial direc-
torates on the side and keeping
everything moving nicely.
The Wall Street battalions of
youth provide evidence of the many
tributaries of specialized skill and
experience feeding into democratic
defense effort.
a LCHEMY brought on chemistry :;
astrology led to astronomy and
now the forked hazel twig to
"dowse" ground leads to the discov-
Orchids Not Gold the world q
Diggers, but the most distin-
HOrsetdil FindsH guished geo
ply sicists
that the horsetail plant of the mead
ows locates gold, and perhaps stores
up bit for all corners.
DR.. Hans T. F. Lundberg of To-
ronto is the scientist. He is widely
famed mining engineer of Swedish
birth and education. Experimenting
with various means of locating met
ais deep in the earth, he worked
through Sweden, Norway, Finland,
Belgium, France, Germany, Spain,
Mexico, Canada and the United
States. His success with electrical
prospecting" methods was sufficient
to gain for him the gold medal of
the Swedish Engineering academy
in 1925, and to locate ii profitable
mines. But he needed more accu-
rate method and kept on the tail of
the horsetail.
The more gold in the ground,
the more In the horsetaiI. with
even infnitesimal quantities to
be detected by the spectrOscOpe.
DR.. Lundberg calls it the geo
botanical method" Further
more, suburbanites may get in
on the profits, even if they don't
find gold mine. A ton of horse
tail, DR.. Lundberg figures, would
yield AZ ounces of gold worth
$3.50 at current gold prices.
This back-tO-the-land movement
may come of yet.
DR.. Lundberg was born in Malmo.
Sweden, in 1893. He was grsduat-
ed from the Royal Institute of Tech
nology at Stockholm and later was
a professor there. He came 10
Brooklyn in 1923, and formed the
Geophysical Exploration Limited
which, exploring many countries