Sl :.
r;
i i
EVEHltfG MDaER-PmLADEkHIA, SATURDAY, OOTOBEB 24', 1914',
ff
SATURDAY EVENING REVIEW OF THE WEEK'S EVENTS HERE, THERE AND EVERYWHERE
fe WEEK IN
WASHINGTON
Happenings in the National Capi
tal of Legislative, Diplomatic and
Political Interest.
Xflth the etnffe set for the Adjournment
tt Congress Thursday night, a filibuster
hmong tho Southern Senators fighting for
jvTderal relief of tho cotton plnntcrs do
velopedf and on Friday both the House
imd the Sonata were in n, state of com
pete deadlock, not knowing when ad
journment would come, and caring less.
As a matter of fact, the vnst majority of
Senators and Representatives havo al
ready left for their homes, and only a
handful are left In Washington to trans-
net business.
Speaker Clark called upon tho Presi
dent Friday, nnd It Is understood advised
JJm to use his constitutional prerogative
of adjourning Congress. Other Senators
and Representatives, seeing tho hopeless
deadlock that had resulted through tho
jMiour filibuster, led by Senator Iloko
Smith, of Georgia, advised tho same
course. Tho fact that there Is no quorum
,t present In Washington places It In the
power of any ono man In Congress to
block any effort to adjourn.
Not in decades has a similar situation
existed. Tho best In tho way of a com
promise that can bo found1 Is to recess
Congress for three-day poriods, so as to
allow tho Senators and Representatives
Who have already gono homo to stay there
until after election.
The war tax measure was passed nnd
feigned by President Wilson with most of
Gardner was delivering his war speech
was Captain Hobson, of Alabama. Bos
ton Transcript.
A battle ilne Is not always the short
est distance between two points. Los
Angeles Express,
At the Mexjcan conference General
Villa embraced General Obregon, who
was recently his prisoner, nnd kissed the
llagj but as ho did not attempt to klsa
General Obregon tho prospects of peace
nro growing brighter every hour. New
York World.
Tho Senate turned a deaf enr to tho
cotton, farmers. Full of their product,
maybe. New York Evening World. .
If Holland gets Into tho war Holland
will pull In tho ocenn. If Germany vio
lates tho neutrality of Holland by using
the River Scheldt the Kaiser will get in
Dutch. Knickerbocker Press.
Llfo on tho ocean wavo Is no longer
what It was In tho days of hearts of
oak. The submnrlno terror has made
ships of war little better thnn precarious
ly iloatlng cofllns, and no very cheerful
sea songs nro likely to bo produced un
der tho now order. Springfield Republican.
Ragtime popular on Broadway fnlled to
cheer tho Immigrants detained at Ellis
Islnml. though tho opening bars of
"America" brought them to their feet In
stantlyi But these, of course, wcro not
American citizens. Now York World.
"Vcnl, vMI, vlcl" wasn't much more
laconic than tho two wireless messages
sent by Captain Cecil Fox, of tho Brit
ish cruiser Undaunted, the first reading:
"Am pursuing four German destroyers,"
nnd tho Bccond, "Sunk tho lot." Boston
Globe.
PRESIDENT'S
-OPEN LETTER
' - - I I I I I I I I I I !..
t
WATCHFUL WAITING
-From tho New York Sun.
tho Senate amendments. Including tho
JLW tax on beer, remaining In It. Tho
Class bill, providing moans for relieving
the financial stringency now existing
through allowing national banks to Issue
emergency currency on 100 per cont. of
their unimpaired capital and surplus, and
the Lever bill, providing for Government
inspection of cotton warehouses, failed of
passage, much to the disappointment of
President Wilson. Should Congress re
main In session, however, It Is posalblo
these bills may bo pushed through. They
are almost essential In tho present situa
tion, tho President believes.
The Department of Justice announced
that arguments In Its suit for tho dis
solution of tho Lehigh Volley Railroad
Company, the Lehigh Valley Coal' Com
pany and the Lehigh Valley Coal Sales
Company had been set for November 11,
In the Southern District Court of New
York. The Government contends that
these companies are operating In viola
tion of tho Hepburn commodities cluuse
cf the Interstate commerce act, and prays
for their separation.
The relation of the United States to the
European conflict underwent a new
phase this week, when Great nrltaln at
first assumed a new policy In regard to
American oil steamers carrying petrol to
the neutral natlonH nt Eurnnn. Thiwn
American tank steamers, all belonging to
the Standard Oil Company, were cap
tured by British crulsers-the Brlndllla,
the John D. Rockofeller and tho Platurla.
One of these, the John D. Rockefeller,
captured off tho Orkneys, was released
m the result of a vigorous protest by the
United States.
Oreat Britain Is extremely anxious to
ep gasoline out of Germany. It is
recognized, of course, that oil going to
xtM 'Scandinavian countries, to Holland
ana to Denmark may be transshipped Into
uniany, and the British Government la
absolutely determined to prevent this, as
f la vttal t0 the Prosecution of
the German campaign. Proper assurances
k V?" olnB t neutral countries from
tne United States will remain there will
J required by Great Britain in tha
luture, and it la expected the State De
partment will co-operate with Downing
street In obtaining these assurances both
"? the consignor and the consignee.
u 5'elIle&n situation developed no new
Phase, except that General Villa, haH been
reconciled with many of his former ene
jniei at the Aguas Callentes convention.
?va Peaceful settlement of his troubles
with General Carranza is In eight. Dls-
"ct Progress was made In tho negotia
nt jcarlng upon the American evacua
tion of Vera Cruz. General Agullar. rep.
"sentlng the Mexico City Government,
v i to General Funston, American com
.. J ,h MoK,can seaport, the guar-
i..!V American Government had In
J.I t. "Pon-namcly, that all Mexicans
wtio had participated in the American
aamlnlstratlon of Vera Cruz should be
-anieea immunity from molestation
oy any faction, and that there 3hould bo
! ?"! Ueaa ot customs duties col
itm! ?' th American regime. These
,.?, pave lh9 way ' a departure
rm Veracruz it an early date.
EDITORIAL BREVITIES
wHteaX."r reinforced corps of French
of wl' - 3,1Bt repuUed tha articles
ium " i th 3 German savants. Tho
laii. " b strewn with mangled um-
and accent.-New York 6un.
iMiJn,1nln who " red ex
vsim oa Wi oo while Congressman
Comment From Various View
points on a Laudatory Review of
the Work of Congress.
Editorlnl comments on the letter written
early this week by President Wilson to
Mr. Undorwood are of a more sharply
partisan tone than has been noticed here
tofore In tho treatment of Executive
messages. Thus, tho bprlngfleld" Union
speaks of "Mr. Wilson's fulsomo praise
ot his Congress," nnd suggests that the
"teamwork" on which tho President lays
much stress Is duo to tho fact that "tor
most of the tlmo Congress has .been -at
work tho President has constituted vir
tually tho whole team." The New York
Press, In similar vein, calls the letter an
"electioneering screed," and "electioneer
ing dodger," to which the nnswer must be
n Republican victory "against that death
breeding tnrlff."
Tho Baltimore Evening Sun, on the
other hand, refers to Its "words of sober
ness and tiuth, based on so broad a foun
dation of national service that It rises
far beyond a mero partisan appeal," nnd
tho New York Evening Post admits that
It would no hard to gainsay the Presi
dent's nsncrtlon that tho Democratic or
ganization Is the only Instru: .cnt which
tho country can effectively use at present.
This Is one of tho most graceful and
glowing tributes nn Administration has
over paid to Itself, and couched as it Is
In tho choice phraseology of which tho
President Is a conceded mactor, It may be
moro or less effective to tho end designed,
which Is tho encourngement of voters In
constituencies where tarlu slashing, lack
of employment, Industrial depression nnd
tho consistently hostile attitude of the Ad
ministration toward business have brought
tho Democratic party Into less favor thnn
It enjoyed two years ago. Rochester
Post-Express.
There Is lnexorablo logic rather than
partisanship, therefore. In Mr. AVIlson's
statement that If tliero Is to bo furthor
progress at this time the party which
chances to be united, strong nnd "full of
tho zest of sober achievement" mUBt re
tain control of Congress, In spite of all
that may bo said In behnlf of "a party
upon which a deep demoralization has
fallen," or "a party which has not grown
to tho stature that would warrant Its as
suming the responsible burdens of state"
-New York World.
As the leader of his party President
Wilson appeals today to the country in
Its behalf. In his letter to Mr. Under
wood ho limits himself to a direct com
mendation of three pieces of legislation
the tariff law, tho banking and currency
law and the anti-trust legislation this
latter Including the Clayton bill and tho
trade commission bill. And surely that
is a remnrkable and a very commendablo
record of constructive legislation. Indian
apolis News.
SS8RT'A m.'T9mteKmLmE0M!MB&
'Zte&irW'r-i':' ;io g'i.; j ATJKiS'iWKtfrj &aBmHatotttKttW92mwiS'
v m a v&lWr-fflWlfiflWirtB
COURSE OF THE
EUROPEAN WAR
!fc'...ii.v,. i-Aii.'fl:iiiwtll
?S-wtwa)2MWWda
T.'-,i:w-:-:'
axw-w-
BELGIUM
From the New York Tribune.
What Mr. Underwood calls tho Presi
dent's "magnificent leadership" has thus
placed tho Administration and tho party
supporting It In a position whero real
quiet nnd freedom from further harass
ment by lawmakers can bo promised to
business interests for almost three years
to como. Mr. Wilson is the Incontestable
leader of tho Democratio party, nnd ho
regards tho work of his administration
nlong business lines as substantially fin
ished. Ho Is no longer the disturber.
Springfield Republican.
ALASKA COAL LANDS
While tho full text of the Alaska coal
leasing bill has not been given out, the
brief synopses of It that have been pub
lished no doubt Indicate Its general char
acter. Tho mero fact that it is a leasing
bill Introduces a novel feature, and to
the pioneer elrment, upon which tho de
velopment of the territory depends. It puts
up a proposition with which It is not fa
miliar. It Is a very taut and tough string
that the Government holds In Its hands
under tho arrangement that has finally
been decided upon. In opening up now
mineral lands of any description tho par
ties engaged In tho undertaking assume
Inrge risks. The coal lands are to bo
leased In tracts of 40 acres or multiples,
not exceeding C850 acres, to a single in
dividual or company and the duration of
the lease Is not to exceed DO years. The
Government is to receive not less thnn 2
cents per ton for the coal mined, while
tho maximum that It may exact is un
limited. Boston Transcript,
Tho bill is most welcome as a step
toward tho development of Alaska's nat
ural resources and as ending the tie-up
from which that Territory and its people
have suffered for eight years as the re
Bult of the acrid controversy between
tho extreme "conservationists" and their
opponents. Chicago Herald.
Criticism of what appear to be weak
points In the coal leasing bill may be sus
pended for the time. As a whole, the
idea Is worthy of support It Is believed
that safeguards have been erected against
monopoly, and this Is most Important.
The success of the leasing schemo can
no more be foreseen than the success or
failure of the Government railway. Con
ditions In Alaska are unlike those In the
United States A conservation or trans
portation program might fall In Utah or
Mississippi or any other State, and yet
be successful in Alaska. The next few
years should demonstrate the wisdom of
current legislation or reveal Its defects.
Springfield Republican.
POLITICS IN
PENNSYLVANIA
Progress of the State Campaign.
Significant Incidents and De
velopments of the Week.
By far tho most sensational political
event of tho week was the charge brought
against Senator Penroso by tho North
American. That paper accused Pen
rose with treachery to tho Vares
and other lieutenants In a secret
ngrccmont, and asserted that ho con
fessed to tho editors of the North Amer
ican that he had contributed to a fund
of $19S,000 to debauch ex-Mayor John E.
Reyburn. State Sonator James P. Mc
Nichol and Congressman William S. Vare
were named as tho other contributors to
the fund.
In spite of repeated challenges to re
fute tho charges, Penrose failed to do so,
beyond Issuing a general donlal and pour
ing a sea of vituperation upon tho heads
of his accusers. He also failed to show
any Intention of haling his accusers Into
court on tho chnrge of libel.
Senator James P. McNlchol endeavored
to brush tho charges aside by ridiculing
them. Senator Varo said that ho would
remain loyal to the party and supoort
Its candidates.
After keeping Bllent on the subject
for four days. Congressman William S.
Varo rose to a question of personal privi
lege on the floor of the House of Repre
sentatives, denying any participation In
the alleged corruption fund and demand
ing that Senator Penrose deny ever hav
ing made the statement attributed to him
by tho North American. Senator Penrose
again made a general statement, but
avoided tho specific points on which Con
gressman Varo demanded nn explanation.
President Wilson, In a letter to Powell
Evans, of Philadelphia, gave his unquali
fied Indorsement to the candidacy of Rep
resentative Palmer. The President's let
ter was not written at tho request of
Mr. Palmer. The President snld In part:
"I have seen Mr. Palmer tested; I know
his quality. Pennsylvania ought to ac
cept and trust him, and through him play
a proper part in the constructive work
of a new generation."
Sonator George W. Norrls, of Nebraska,
announced in Washington that he would
come to Pennsylvania to fight Senator
Penrose. Senator Norrls said:
"It Is tho first duty of the Republican
party to destroy Penroselsm. As a Re
publican Senator I consider it a duty to
my conscience, a duty to decent citizen
ship and a duty to popular government
to oppose with all my power the re
election of Boles Penrose to the United
States Senate."
In an address at Erie befors 1B0O mtm
Colonel Theodore Roosevelt urged the
election of Glfford Plnchot to the Sena
torshlp nnd Vance C. McCormlck to the
Governorship. Ho bitterly assailed Pen-
RAILROAD RATE
HEARINGS AGAIN
Editorial Views on the Question
Which is Now Before the Inter
state Commerce Commission.
Reconsideration of tho plea by the rail
roads of tho country for permission to
raise rates began on Tuesday and edi
torial comment on the plea, which Is
backed bv tho American Bankers' A.n.
elation, has been remarkably unanimous.
In New York, the Times, World, Tribune,
Press and Sun, ordinarily miles apart,
agree that the appeal should be granted.
Tho Boston Transcript and the Rochester
Post Express aro of the same opinion.
Upholders of Mr. Brandols have not yet
appeared In the editorial columns, and
if it depended on editors alone, the case
would be won already.
The Interstate Commerce Commission
needs to enlarge Its vision and deal in
the broadest national spirit with the rate
question. Starving tho railroads Is a.
dead policy. In going liberally to their
assistance tho commission would help
materially in tiding the oountry ovor the
present economical crisis, New York
Tribune.
The President has recently consented
not to push certain legislation that he
had had In mind, affecting the roads. Cer
tulnly. in thus receding from his purpose
his conviction of their embarrassment
must be very strong. We can recall no
other protest of business that has had
any efTcct upon him. He is anxious that
relief In some form shall be extended to
them and we know of no other form than
that In which It Is asked that will lift
them out of their difficulties. Boston
Transcript.
Now the net earnings of 455 roads for
1911 have fallen fllO.914.OtS below those for
1913, the comparison being for the fiscal
years ended with June. Meanwhile the
community has come to see that the com
mission has misjudged the situation, and
the commission Is much of the sam
opinion, unless signs are misleading. The
fact that the commission is wllllnr to
hear argument contrary to two decisions
is one sign of a tendency toward recon
sideration. New York Times.
From a public point of view the use of
railway dividends Is to attract capital
from private to public use. If every
dollar of dividend were taken from the
shareholders it would atlll be necessary
for the railways to find fresh capital. It
Is only by tho use ot still more capital
that the country can get Its commerce
carried In the futuro as In the past New
York Times
War In Europe merely accentuates tho
plight of tho railroads, which are suffer
ing from too much taxation, too much
political agitation, too muoh harmful
legislation, such as the full-crew laws,
and from the higher cost ot supplies and
constantly Increasing payrolls. With In
come outstripped by outgo, the greatest
of American Industries Is in no position
to borrow money for betterments or to
renew old loans, and the whole world
finds in the prices of American railroad
securities proof of the distrust with whlr-h
WoriaT It8"'X "W UuaUon-Nw York ."Mister, when yer through with that, would j mind pumpWup
fer us?
roso as tho man who had put Pennsylva
nia on tho map as a bad spot.
A canvass rrmdo by tho Evenino
Ledger showed a rapid growth of the
local option movement In Pennsylvania.
Speaking In Chester i.nd Media, Doc
tor Brumbaugh again emphasized the fact
that tha Republican party In Pennsylva
nia offered a definite program of reform.
If elected to tho governorship, ho said,
his utmost endeavor would bo to carry
out that program and to write It Into the
annals of tho Commonwealth "on a page
of four years of clean, capable, conscien
tious administration of her public
affairs." Doctor Brumbaugh declared
himself in favor of progressive labor leg
islation. In an address at Sharon, Congressman
A. Mitchell Palmer severely condemned
calamity howllngs of Senator Penrose
and tormed Penrose a "business assassin
ator." Threo and four times as many voters
as cast ballots In -j12 were shown to be
registered In Fayetto County, the home
of Stato Senator William E. Crow, Re
publican Stato chairman and tho man
who manages Penrose's campaign. A
Citizens' Committee in charge of the In
vestigation Into the rratter Issued a state
ment to tho effect that between 5500 and
3000 names would be stricken off the reg
istration lists of tho county before elec
tion day.
IN COMMERCE
AND FINANCE
Events Illustrative of Present Busi
ness Conditions and Indicative
of the Future.
Tho rehearing of the Eastern freight
rate case began before tho Interstate.
Commerce Commission in Washington on
Monday. Daniel 'VVllIard, chairman of tho
Presidents' Committee, who led the fight
of tho railroads for higher revenue in the
previous ense beforo the commission,
again acted In tho same capacity. He
was the first one to take tho stand In be
half of tho railroads. Mr. Wlllard laid
great stress on tho effects of the Euro-
Military and Navnl Operations
Considered in Relation to tho
General Situation.
War operations In northern Franc and
Belgium during the last week woro more,
spectacular than any previous campaigns
of the great European conflict. With
heavy forces tho Germans, after captur
ing Ostend, made a terriflo dash down
tho coast of Belgium Into France, and
wero headed toward tho strongly fortl
flod city of Dunkirk. This movement
the Allies effectively checked.
The escape of the Belgian army from
Antwerp and Its juncture with tha
Frenoh and British left wing1 was a re
markable feat. Tha Belgians bore much
of the brunt of the German rush. So
stubborn was the resistance of the Allies
that tho Germans havo been beaten far
back inland.
A distinctly new featuro of the opera
tions was the part played by British
warships In the English Channel. Moni
tors of light draught ran close In shore
and shelled the German trenches so ef
fectively thnt retreat was forced.
Counter-movements by the Allies
threaten the Gorman forces which swept
down tho coast. Courtral has been re
ported occupied by tho Allies. If this
Is true, a deadly wedgo has been driven
nnd tho Germans may bo cut off from
the main body of their troops. If the
present movement of the Allies succeeds,
the Germans will he forced to fall back
to another battle line. The French nre
confldont thnt within a fow days their
soil will bo freed from Invaders.
Threats of an Invasion of England
from Ostend and Dunkirk as bases wera
current during tho week, but with the
seeming failure of tho German movement
along the coast fears on that score wefo'
relieved. Reports persist, however, of &
contemplated Zoppelln raid on London.
Tho French continued on tho offensive
In Alsace.
Tho Austro-Gcrman advance against
Wnrsaw has duplicated in reverso order
tho details of last week, when this force
was hurled back SO miles to the bases at
Lodz, after coming within five miles of
tho Polish capital. This week tbo Ger
mans wero forced still further toward
their own frontier and then turned for
a fresh offensive, which brought them
within seven miles of the gates of 'War
saw. Tho now advance has been checked,
according to Petrograd advices, but tha
Kaisor's nrmy has evidently withstood
attempts to drlvo it back again to Its
base. The Berlin version of tho cam
paign Is that tho Russians have failed
to check tho Invasion of Poland and that
Warsaw uhortly must succumb, opening
tho road to Petrograd. Civilians havo
been advised to leave Warsaw by tha
Russian authorities, tho Berlin War Of
fice declares.
The Galician campaign has been waged
by the rejuvenated Austrian army with
vigor. Many positions In the moun
tainous country east of the San hava
been retaken after stubborn fighting, nnd
tho Russians have yielded ground so con
siderably that apparently they must soon
retreat across the Polish frontier.
The Allies' fleet has reduced an outer
fort of Cattaro and forced the Austrian
fleet Into the harbor. The city is un
der bombardment from a nearby moun-
'. ri iijvv: vj. -.!' ai'TiriiVirirtvir3-z-r ALatMcr"-
tor j fli&fiii Ipf jM Fa W ilSaw &P$Sk
WEm m w m, wmBSt sag
afcy nv&ImMYwvp2sfvTi r'ttr i '
- -J.i, . i.-.M
NATIONAL DEFENSE
It still remains to be seen whether the
country has "taken much Btock" in Rep
resentative Gardner's speech In the House
on the "woeful stato of unpreparedness"
of this country In the event of war.
Editorials on tho subject which approve
Captain Gardner's speech emphasize his
attack on tho inefficiency of methods
rather than on the Insufficiency of means.
Tho Kansas City Star goes farther and
says, "Tho Issue raised by Representative
Gardner Is not one of militarism or nntl
mllltarlsm; It is one of self-protection."
The New Yorlc Evening Journal, In a
characteristic editorial, travels tho whole
road with Congressman Gardner and goes
lurtner. Tbo St. Louis Post Dispatch
indicates tho futility of Increased prep
aration at the very time when all mili
tary preparations are being called Into
question; the Nebraska State Journal
pokes unlimited fun nt "the wild yells
which nnnounco the advent of the night
marcs due to tho European war," and
the Louisville Courier-Journal says.
"Thero would seem to bo little hurry to
reorganize and none at all to misblllze
our military establishment" In view of
the Impoverished condition of all our
posalblo enemies after the present con
flict. By the time Mr. Gardner's scarecrow
ot Itself ready to fight such armament
as wo might now acquire would probably
bo obsolete. But may we not hone that
some moral Influence will emanate from
the disasters which have come UDan everv
part of Europo? After the destruction
and carnngo which of tho nations en
gaged, however vicious, will want to go
to war again, and. especially to come
against us? Louisville Courier-Journal.
And the duty of this country is to
work and maintain peace by paying tho
uniy price mat can uuy peace adequate
defense, a great, powerful navy on the
water, under the water, and In the air
and an nrmy sufficient for coast defense)
and so organized to Include a great num
ber of trained officers, able as quickly as
posslhle to transform a courageous citi
zen into an efficient soldier. Now York
Journal.
If Mr Gardner's plan would lead to
the takln? of our penrral problem of de
fense out of the hands of the politicians
In Conqresi. out of tho hands of the so
called experts of the service, and put It
all under the charge of broad-gaugo.l and
wlde-visloned statesmen of acquaint
ance with world problems and world
needs, vrt believe he would havo made
an admirable suggestion. Boston Herald
WSM Wis? m r .r-
11 if
mm II II ra
$6 tFicou mm 1 M I P
Aiif&ZtLL ocr that vmm tnulU vb fifl If
K), I if 1 life
" S55W Swc IMS' iiSSOKiV
- Frnm tho Washington Eventne Star.
ADJOURNMENT (MIDWEEK VIEW)
From the Npw Tr-rk Wort.
our football
MATTERS OF BUSINESS
The country's interest In the war Is
unabated, but It has turned to fresh chan
nels In the last week. The reported sell.
uro of an American vessel by tho French
orousht up the question of American
commercial rights In the war. but ti,.r
i appears to be no Jingoistic sentiment and
l not even the deepest dyed of yellow Jour
nals have "declared war." The country
seems to be mora Interested In the benef
tcent efTeeta of the war on national ex
ports and general prosperity. nn,i
these matters North. South, East and
West. Republican, Democrat and Pro-
ereebive. are as one. The "rising tl.ieJ.
of exports." accordlns to the New Yor
nnn- ... v "'at inere is a golden
lining to the war cloud," and the shower
of gold affects a great variety of Inter
ests In agriculture and manufacture.
Even from the South, harried by its cot
ton troubles, the Savannah Mutnlna News
discerns "steps toward prosperity," par
ticularly In a new diversification of crop
In the South and extmui.i i.,,,-.i,, ,..
of manufactures. The return of a bal
ance of trado in favor of this country.
'or lne "" "me 'nco Manb. Is noted
ujr UU4U; papers 4
toward prosperity.
pean war. Ho said that It has seriously
affected credit, the earnings of the rail
roads and business in general.
Rankers and stock brokers In New York
cxprsseu tne opinion on Tuesday that
forces
tain. Montonegrin-Servlan
still advancing on Sarafavn.
The most important naval engagement
was off the coast of Holland. Four Ger
man tornedoboat destroyers were Bunk
the decision of tha commission in th. i bV Zrii ,.k" ".?" "?,"." .we B"
5. St C.t RsonanS'ls. A favorable , the Gorman torpedoboat S-W sank th?
tinned this week under rulings of commit- l So?..i . Pursued by Japanesa
tees, as it has been IXtol E"a I rlddfed' ?hen wlthe8he.hf roUn1- U W"
time. The greater part was tn bonds. I i,f h.5 . . . 8heI1.s
generally of short maturity. ' Italy has landed marines In Albania to
Sir George Palsh. former editor nf th P.ttet lu interests. Italian officials d.
London Statist and now financial ad. :L , AIDanln intervention does not alter
vtscr of the British Government. wno jj,
in this country conferring u-lth intmn.
tional bankers on the ilnancial situation
of tho world, expressed optimistio views
while in Now York on Tuesday. He said
that It was his belief that tha present
problems of international exchange will
soon be solved, and tho balance of trade
will again swing to the Tinted States
making the payment of gold to England
unnecessary.
Money markets continued to work
ci. . especially as to commercial paper,
ii i ch virtually all of th hniin... i
btiii.- done, there being very few call and
time money transactions. Fureign ex
change lates sagged off slightly and Ger
man marks made a new low record of 3L
On Tuesday a two-day conference lw,
gan in Washington between the Federal
Reserve Board and the directors of the
1. new regtonal reserve banks, terminat
ing on Wedneday evening. Plans for the
opening and operation of the banks were
discussed. It was tentatively agrwd to
open th banks on November 30
Figures given out by the New York
Custom Hous showed that German?
road goods to the, vain of Jl us Taair.
rued in New York ln September.' dlrSot
from Germany. Ttu. imports inducted
dyesiuifs. chemicals and textiles
The weekly statement of the Philaiii.
?."' V " "ous ASSOC i, ti l showed I tu. ,w.r...l h
Utci'.ife. , K aio.iMW I f-m !.. i ,
th-ir general policy of neutrality
The South African revolt of Colonel
Murlts against Ureat Britain apparently
lias been quelled.
that the reserve ittm
nriin-S nlu"3.!CK Vl" ' ' MllsUtutUn of
.::,:: :t- 'mnt had not
PRORLEJr OF COTTON
The passage of the war tax bill through
the benate without the proviso which
would force the United States to raise a
quarter of a billion dollars from bonds
in order to aid the cotton producers, has
vrved only to stimulate Interest in the
cotton situation. The Cincinnati En
quirer, among Northern papers, strongly
favored the bill. Of those opposed to
It. the New York World refers to the bill
as a "precedent that would arise ti
plague this country fur generations," and
the Detroit Frse Press calls It "one of
the, worst scheme -er proposed for tha
American Ojvernunt The New YorK
Times, editorially deprecating ao scheme
which would take- the cotton out of cli.
euUtlon on an artificial basis, says: "To
get the cotton out f sight It must be nut
Into cloth " v
Opinion in tha South is by no mans
urmoanous. The Atlanta Constitution de
!, that tha South seeks special aid. but ,
insists that "loi.il uiuvunwiu m.. .,. .
buy-a-bal-of-cof ,u pkin, have mn lu-
adequate" and r. nt-m mental relief must
tne ",aivpton Iijlly
i"J farrnliia- tha. i.i.
'Oro cotton, pool an J
tl ' Icleral jrs-r.
M
Mr
it
"""" " i ss iijx -as I 5S
to the economic frt
'