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b&YUBLIC LEDGER COMPANY
CTRU3 II. K. CUIITIS, Pnr.sitir.NT
fcn C, Martin, Vic Preald'nt and Treasurer;
rue A. Tyler, Secretary: Char'ea II. I.udlnc.
Philip B. Celllna, Jehn h. Williams, Jehn J.
eon, Oeerca F. Goldamltte, David K. Smllay,
etftta.
MVID B. BMM.f.T.
..Editor
INC, MARTIN.. ,Ofnral Dualnaaa Manater
I.M Published daily at Poilie Lideb Building
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KtYSTONF.. MAIN 1601
avXiMriu all communimtietu (e A'ltnlnp J'ublle
imagtY, ln(t(vrnilrnc snuart, rnllnaelplila
Member of the Associated Press
TUB ASSOCIATED rKESS exctuJIcrti en
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mtipateht crtdlttd te It or net etneruue crtdiUJ
fMj paper, ami obe tir local new published
tksrrtn.
411 Hffhta e reruSKoetion e apeclal dlipafcJie
weretn ere olte rfmrd.
Philadelphia, Saturday, l'tbtutry H, 1922
THE FIGHT IN THE P. R. T.
OF FAR mere interest te the gcncrul pub
lic than the underlying causes of the
split In the P. It. T. directorate I the pos
sible effect which the fight will hnve upon
future street-car service in this city.
If the insurgents In the Beard of Direc
tors should win there will be nn end te the
Mitten system of management, n disruption
of the existing co-operative scheme between
the men nnd the executives and a return te
the elder-fashioned theories of operation.
The tightly organized empleyes of the com
pany will be left te leek out for themselves
as best they can.
They may continue te act a a unit nnd
te oppose a less liberally minded manage
ment by strikes or they may move as u mass
Inte the Federation of Laber. In either case
questions of wages and policy new Mettled by
agreement would be settled, in all prob
ability, by lockouts or strikes.
In most minds a feeling persists that the
P. It. T. directors ought te let well enuugk
alone.
CONTROL OF THE PARKWAY
THE preposition te extend Fnlrmeunt
Park ee as te Include the Parkway, ap
proved by the Ceramlttct; en City Property
of the Council, should be carefully cxnmlned
before It Is Indorse 1 by the Council Itself.
Mere big questions are Involved than appear
en the surface.
If the plan Is finally adopted, the Park
Commission will have authority ever the
character of the structure te be erected en
the Parkway. It Is desirable that some au
thority should control thh matter, for the
intention is that the Parkway shall be given
OTer te menumentnl structures of one kind
or another of admitted architectural beauty.
It may be that the best way te bring this
about Is through the extension of the power
of the Park CommlKsIen. But the're Klmuld
be a definite understanding en this point at
the beginning.
A TAX ON BACHELORS
rnOO little attention has been given by
B X social reformers te the tax en bachelors
in the Federal Revenue Laws.
They have urged such a tax for jears en
the ground that it would encourage mar-
'r rlage, reduce the number of unattached
, females and Increase the population.
I But the bachelor tax in the Revenue
Laws went through without arousing that
enthusiasm w'hlch tlw-e who had prevleiihly
. adveiated It were sure that it would stir up.
Under the law a married man is exempt
from tax en an Income of $L"00, hile a
t bachelor is exempt en' only 51000. If the
. bachelor has an income of SL'eOO he has te
pay en $1500, or 00 a year, while a mar-
ried man with the same income is untaxed.
But se far as has been noted this tax
has net Increased the number of marriages
perceptibly, perhaps because the bachelors
thought that single blebsedness was worth
all that it costs.
Still further the law taxes childlessness,
for it allows an exemption of -100 u jear
for every dependent child. Thus a married
tnan with three children and nn Income of
,93700 is tax free, while a childless married
man with the saitie income is taxed en
, $1200. The tax amounts te -!S a year.
'While the bachelor tax has net encouraged
marriage, the tax en childlessness has net
Increased the number of children. What
r. -have the social reformers get te say
r about it?
r .,..,-
STILL AT IT
rj WAS remarked in these columns the
ether day that the public utility corpo cerpo corpe
v rations were deeply interested In the plan
ji te amend the Federal Constitution se as te
an permit Congress te tax State and municipal
, i, bends. These corporation find it difficult
in these duys of high taxes te float their
bends In competition with the untaxed mu
A nlclpal and State bends. They want these
j bends taxed In order te make a better mar
1 Icet for their enn bends.
The latest issue of the News Bulletin of
the Illinois Committee en Public Utility
f Information, representing the Illinois public
utility corporations, contains n summary of
remarks made by Dr. IMwin R. Sellgman,
. professor of political economy in Columbia
4'1 University, before the Heuse Wnjs and
Means Committee in support of the taxation
plan. Prof, beligman estimates that there
are lO,000,UO(),uoe of State nnd munlrl
pal bends that are wholly or in part ex
empt from taxation, and that then- are
120,000,000,000 of exempt Federal bends.
And he told the Heuse committee that if
the Federal bends alone were taxed the nn-
mini rnrpnilfia nf flip flnliiftimnn, tn..l.i i
4.? increased by 5:100,000,000.
$JkW But Prof. Scligmnn did net say that the
nf&" An 1......1.. .. i... i.'...t.. .i .....
'.US uutuiL uuuue iil iim i'ruuj.li WOVlTUment
MS4, pannnt be tilled lnp.ini,i i.vi.mt.ti,..,
tv" ;- .--..., I.. ",, iiuin
' taxation is pan or tne contract en which
bi,m iue mimey was uunuweu. .eitiier did he
rXVar .. !.- it i... .,,.. ....t i r. .. ... . .
lit sAi-nun uumin hith reiumied
iviXl r into taxable bends the rate of inrrut
tv r ... .
weuiu nave te tie laiseil nigh enough te re.
, Imburse the lender for the tax hu would
have te pay. lint every banker known the
rate of interest would have te he raised and
that the iucniese of WOO, 000, 000 in revc
JitltH would be offset' by an Increase f
J3P0,000,000 in interest, and the net re
turn te the Federal Tiensury would be
Mthing3. The only people who would benefit
jreniu be the owners of the public utility
iS&ffef, .corporations, who would find it eatler te
WJ "float their leans.
j-i'r- TAMnFWR r.riHnni pdatr
i
VPYTIf fnpllnna In (he Vim. .Inr.n.. I ,.t
Ifrlj latum ure Hwenllne with nnxlntv T'l,.,.
distracted In a conflict of issues that
wn from the routine preparations for
eampalirn ami the general elections,
. temp wnat tney may de wjtb.
aM'MiiiM Maaemwai m saM
&Mmmmm& ;
Scheel Beard of Camden te outlaw all secret
fraternities In the public "schools of the
State. Hut the bill ought te be passed in,
the interest of thi'Jersey schools and as an
cample te Iiear(Jrt)f Education in this and
ether States which have net hnd the cour
age or the initiative which Inspired the
school authorities in Camden te nn aggres
sive attack upon organizations which are
opposed te the whole theory nnd Rpirlt of
the public educational system.
Oddly enough, the Camden Scheel Beard
has met with most resistance from parents
who encourage in their children a spirit of
petty snobbery. Only the law li adequate te
deal with that sort of unreasonableness.
SMILE WEEK DIDN'T CO BIG,
AND THAT'S CHEERFUL NEWS
At Last the Bettem Seems te Have
Dropped Out of Canned Opti
mism, Incorporated
WHEN Americans became tee lazy te
think or net seriously in the presence
of serious problems the professional opti
mist pepped lute prosperity. He hud n
painless substitute for thought nnd be be
came n natlennl Institution.
"Feci cheerful!" cried he. "Then noth
ing will matter!"
When the war raged and no one knew
hew we were te come out of It no one
knew'H even new this herald of joy went
about demanding that we sing in crowds.
A very large number of people were ex
periencing nctual want because of the
ilmlticfs greed of profiteers. The merchants
of canned and commercialized optimism wrote
crscs nnd sermencttcs te tnke the pang
out of hunger nnd recommended that the
mlsferlunate leek upon the sunny side of
life.
Smile Week, which Mr. Bryan welcomed
with n gust of praise and which w-ns duly
Inaugurated with wnrm rhetorical outbursts
from a number of nubile men who appear te
hnve been tnken off their guard, seems te
have represented a last desperate effort of
the Optimists, Inc.. te keep their soft niche
in a world that hns grown pretty sick of
them.
When there are things te .smile about it Is
net necessary te coax or goad nny consid
erable number 'of people Inte nightmares of
imitation geed humor.
Why shouldn't some one have started n
Law Enforcement Week? Or a Ne Hold Held
Fp Week? There might hnve been a Dry
Week, for the snke of that variety which
is the spice of life.
A Speechless Week In Congress or n
Week for the Promulgation of Americanism
among Americans or n eek of Hate for
the Ceal' Combine would have added mere
te our national reputation for common sense
than a year of Smile Weeks. Beit of all
would have been a Week for the Dipping of
Professional Chcerers-l'p Scvcnty-scveu
Times in the Salt Sea.
Optimism Is well enough in Its rational
forms. Cooked up by the efficiency method
nnd administered as sedative dope te the
easy-going multitudes, it Is about as bad as
anything can be without bringing the patrol
wagons.
The systTnntlc promulgation of nonsense
became for a while an extremely profitable
business in the United States. When you
remember the amount of hard work done In
the last few ears te dlstrnct the attention
of the American people from the realities of
the course into which the Natien drifted,
jeu will no longer be amazed te find the
country looking nt the hard and compli
cated problems of 'the plemcnt as If It had
just w-nked fiem a dream.
Ne one can smile or smirk a way out of
the crowding difficulties of thej-c times.
Straight and honorable thinking nnd a
willingness te face the facts as they arc
rather than the shabby Imitations et up by
gentlemen Pellynnnas are necessarj In any
one who wnnt te help himself ami the
human race out of n wllderne-s of doubts
nnd discomforts that igmr.mce and false
eptlmlun created.
Brjan may smile bis head off without
proving anything. He isn't cold or hungry
or out of a job or wondering hew his tent
Is te be paid, nnd, fortunately for hlimelf
nnd the iest of us, be is net burdened with
the responsibilities of nn important political
office.
Nothing grows se quickly inncld ns the
synthetic geed humor and geed will that
hnve been served up in commercial quantities
in this and every ether American city.
Less than a year'nge the Mner ami a let
of ether well-meaning people were moved
te generous works in behalf of the jeung
men and the young women and the bejs nnd
the girls vhe were supposed te be drifting
te the pit en the wave of jnz..
Some dances were held in the open. They
continued te the point nt whlrh some gen
uine geed will, n little of real earnestness
and ingenuity and, perhaps, u little of sac
rifice were required te keep them going.
Then they stepped.
It seems neer te have occurred te nny
one thnt, with a little trouble, that sort of
rrcrentlen might hne been continued in
doors, as it is established In Chicago and
elsewhere. What ii being done new te
draw the youth of the city away from dis
reputable dance halls? A Council that hag
gles ever a few thousand dollars necessary
te provide feed for the hungrv couldn't be
expected te think of an thing se abstract
as the normal needs of youth.
Who but the churches Ih doing nntthini
generally helpful for the euth of the city
new? Who is sincerely and humanely in
teri'sted In the multitudes who have had te
endure long sieges of unempleyment'' Be
cheerful, by nil menns, and forget It!
Te nn expert smiling Is easy, It requires
almost no expenditure of physical or mental
energy. It Is ensier thnn the drawing up
of resolutions, that ether favorite Indoor
sport of the inept.
Smile Week didn't go, as the saying is,
big. That is.n geed sign. There are some
extremes of foolishness te which Americans
cannot be driven. And, for all jeii knew,
the jelly chaps who, for a thumping profit,
undertook te help us through our trinls
during nnd after the war, mnj new have
te hustle fertli and get work
VACATIONS AT THE SHORE
rplIE coast resorts in Southern New jfr.
X e. that is. below Atlantic Citj need
nothing se much as better railroad 'service.
Their natural attractions aie admitted!
The hove fine beat lies, the climate is agreed
able in the summer and still nunc delightful
in the winter. Thej have paved streets,
sewers and electric li;hts, And the nn se
varied In character thnt satisfactory sum
nier quarters eiin be found somewhere for
families of moderate means as well as for
the wealth).
The premise of Jjetter train scivlec made
te JiOO permanent residents of Ocean Cltv
by the irprescntntlves of the Pennsjlvnnla
and the Reading Railroads nt the dinner at
the Mnnufni Hirers Club en Thursday night
will be gratifying te thousands of Phlln
delphinns who hnve suffered In the pnst be.
ciiisii of the preference In train .schedules
ghen te Atlantic City.
There Is patronage enough for a the
ce.ist resorts. The smaller place, hare suf
fered because of the railroad discrimination
in favor of one of them. Atlantic City,
which is nlwnjh crowded te capacity In the
height of the season, need net fccL any
jwieusy or tne ether resorts, ucean City,
;M4 City, Artlea, gteM Harber ui
Wildwood attract families which cannot
find accommodations nt the larger place.
But it has net been se convenient as it
ought te be te get te these smaller resorts.
And In recent years the rnllrend fares have
been se high ns te dlscduragc travel te them.
Even Atlantic City hits suffered from the
falling off in the number of commuters from
this city. Before the war, when fares were
low, the morning nnd evening trains were
crowded even in winter by men doing busi
ness in this city nnd living at the shore.
But the trains that nrc running this winter
have fewer cars than in 11)14 and these cars
carry fewer passengers,
A reduction in passenger rates te all the
shore resorts is ns important ns an im
provement in the train schedule. If the
rates could be reduced te the pre-war basis
en the shore lines there would be a season
of such prosperity as has net been known
for years and the net earnings of the rail
roads should be largely increased.
There is n population of 2,000,000 in this
city, the greater part of which can be in
duced te make scverel trips te one or
another of the const rcsertR each season If
the rates are made low enough, and tens of
thousands of them would live at the shore
in the summer If It were made possible for
the head of the family te trnvel back and
forth en fast trains ata modest commuta
tion fare.
The Ocean City people who came here te
celebrate the attractions of their resort have
started a movement which might well be
Kept up by the citizens of the ether com
munities nil the way te Cape May.
ANOTHER ELWELL CASE?
ARBUCKLE, when he was en trial In San
Francisce, wns defended by lawyers
who ordinarily are rcgnrded ns leaders of
counsel for some of the lnrger moving
picture Interests. Thnt fact and Its general
implications have n peculiar Interest new,
in view of the peculiar difficulties which the
police of Les Angeles have encountered In
their efforts te penctrnte the mystery
created by the murder of Tayler nt Holly
wood. The detectives themselves and the
District Attorney hint broadly that efforts
are afoot te keep the truth from the public
and from the courts.
People who huvc many millions stnked in
the moving-picture business cannot be
blamed for trying In all legitimate ways te
safeguard their Investments by protecting
reputations which they have hugely capi
talized. But It ought te be remembered
that responsibility for their present plight
is largely upon their own heads. Hnd
there been in Hollywood anything Hk the
strict censorship of public nnd professional
opinion which guides people elsewhere In
their social life nnd relationships there
would have been no thundering scandal.
Had the promoters manifested a sincere and
Intelligent regard for the, general integrity
of the film profession they would net new
be harassed by the prospect of a new scandal
of large dimensions which reflects unfavor unfaver
ablyand unjustly en the movies.
Se. in cases like the present one. sup
pression will de no geed, even if It were
possible te bring it about. The essential
trouble will remain. The film financiers will
be wicr te strike nt the source of succes
sive Holljweod scandals without delay.
That source is In the inner community of
highly puid and undisciplined actors and
actresses who. though they are u minority
een among film celebrities, manage te get
themselves first into spectacular trouble nnd
then into black headlines.
If the mystery of Tayler's death remain
unsolved, if Les Angeles Is te develop an
other Elwell case, the shadow which the
movie promoters fear will extend in time
ever u lnrger area of the movie world.
Hollywood will be better for n general
clean-up such ns would fellow inevitably
after an airing of the circumstances that
preceded and attended the deatli of Tnjler.
A few actors nnd nctresscs, made reckless
by sudden wealth, are nt the source of
Hollywood scandals. But the whole movie
world needs n better system of Interior
ethics if it is net te be disrupted sooner or
later. The Tayler case and the Arbuckle
case have recalled te the minds of the read
ing public a roadhouse pnitj near Bosten
which included some of the best-known
promoters in the field when it was raided
by the police.
NOW IT'S UP TO THE SENATE
PRESIDENT HARDING has put up te
the Senate the final act in completing
the work of the Disarmament Conference.
The seven treaties drafted will net be ef
fective unless the Senate intifies them.
In submitting them the President ex
plained that their sole purpose s te Insure
the peace of the world, that they de net
commit the Government te armed force or
te nnv alliances, or te any written or moral
obligations t join In the defense of nil body
except in accordance with established con
stitutional methods.
If the President has thus found n formula
which the Sennte can nccept as justification
for the ratification of the treaties every
friend of u better international understand
ing will rejoice.
The treaties ought te go through without
prolonged delay or doubt. In initiating the
Arms Conference nnd steering It te a suc
cessful conclusion the Executive Department
did n big j"b well; It is new up te the
legislative branch te mnke as geed a record
for expedition nnd intelligently directed
effort. .
When Senater Heflln
Clapper-Tongue sas William Boyce
Thompson borrowed S'i,
000,000 from the New Yerk Federal Re
serve Bank en a dummy note he sn)s some
thing that may be definitely pnned or dis
proved. But hen he refers te the gover
nor and vice governor of the beard ns "a
half-hammered Democrat" and a "Hiekery-nut-hended
Republican," tespectlvcly, he
writes himself down, less epigrninmatlcnlly
but mere csnetly, ns something equally
sillv. Cotten growers in the Seuth may
hav'e' a legitimate grievance, but they nre
unfortunate In their spokesman In the Sen
ate. Whatever virtue there is in the cause
he espouses. Senater Ileflln has weakened It
bv his billingsgate.
A New Yerk dispatch
I'etdUll Zeal sets forth that Miss
Mary Garrett Hay told
women of the League of Women Voters te
neclrct their homes, husbands and children,
if necessni', and devote all their energies te
a campaign for .10,000 new members, Se
that thev. I""- w'c suppose, may neglect their
homes, husbands nnd children. "Tell jour
husbands te he geed speits and cut at the
dcliente-scn store," udjuies Jllss Hay.
Frem which we deduce that some estimable,
ladies ere losing their heads. Hew can
ihev rxpect consideration from the men if
they don't feed the brutes'
Tli farmers represented by the ngricul.
tural bloc de net think it right that prices
In this country should be dominated by
world market prices, guile se, quite se.
It Is net right thnt the world market price
of watercress should dominate the price for
luune consumption, because, en the one hand,
we are net menaced by the puuper-produecd
watercress of Europe; nor. en the ether
hand, de our experts of watercress affect
the markets of the world. But, just nt thu
moment, we cannot think of any ether ar
ticle that Is precisely in that position. In
variably the price of our excess product
when exported affects foreign markets nnd
our mcrkrt Is affected In Its turn, And
always there is danger of amputating finan
cial fingers when one ieiey with aa too teo toe
nonie Nm ww
. WILSON ON THE MEND
Fermer President' Improvement Said
te Be Se Rapid as to.8aver of the
Miraculous Stories of
Washington
By WILLIAM ATHBRTON DU PUY
WOODROW WILSON is en the mend. In
fact, his condition is improving se
rapidly ns te be little less than a miracle
te these who have watched it closely. His
old-time nctlvity of mind, mobility of fen fen
ture, Is reasserting itself. He wnlks almost
as does a well man.
The turning point for tlie stricken former
President was Armistice Day, that occasion
en which. the Natien paid homage te the un
known soldier. On thnt day Mr. Wilsen
rode in the nnrndc in Washington nnd even
the solemnity of the occasion was Insufficient
te suppress the feeling the throng felt for
him ns n soldier broken in n fight for his
ideals. That throng let fighting regiments
pass without npplnusc, let the "commander
of the overseas nrmy, the President of the
United States, go by in silence. But all
nlnng the line In n reversion te fairness, the
hush was broken by the clapping of hands
when this private citizen alia his wife went
past In n herse-drnwn carriage.
That ofterneon many thousands of people
crowded into the residence street in which
Mr. Wilsen Uvea, having come spontaneously
te pay him homage. They steed there un
covered before his house, their spirit seem
ing te be best voiced by n leather-lunged
man en the terrace across the way, who
called intermittently:
' "We understand, Mr. Wilsen; we under
stand." Se constituted ere we mertnls that the
mind of us has much te de with the well
being of the body. The' glow of It Is like
sunshine te the plant. May it net be true
that the miracle which doctors failed te
perform was wrought by n simple citizen,
who trumpeted ;
"Mr. Wilsen, we understand"?
Here is nn individual whose political
career was bullded en no mere stable a foun
dation than it cnrbjinclc en nnether man's
neck.
He is none ether than Representative
Burten Erwln Sweet, of lewn, the man In
Congress who has had charge of the various
measures for the rehabilitation of the dis
abled soldier.
Mr. Sweet lepresents the district from
which came David 11. Hendersen, two
decades age Speaker of the Heuse. Nine
times had Mr. Hendersen been nemlnnted
for Congress, nltematcly by a spokesman of
cneh of the nine counties in hi district. The
convention wns te be held that would name
him for the tenth term nnd I). T. Gibsen,
of Bremer County, who hed nominated him
eighteen ears, earlier, was te make the great
speech.
But Gibsen get n carbuncle en his neck.
Se n young luwyer mimed Sweet wns drafted
te take his place. Sweet made se strong an
impiesfien that he came near being nomi
nated for the pest himself when, two months
later, Hendersen wlthdiuw. It was this
speech, made possible by n carbuncle en
nnether man's neck, which eventually led
him Inte public life.
Dr. Herbert Werk. First Assistant Post Pest
master General, used te be associated with
Mujer Gencrul Enech II. Crowder. new
down in Cuba helping te get that sugar
bowl of the world en a steady keel again
The two of them were together In Cuba
twinty j ears age.
"Crowder is the most delightful nnd lov
able man in the world." said Dr. Werk
the ether day. "Lovable nnd ns mad as
a hornet nil the time."
Never in the nation's capital has there
been a mystery which remained se per
sistently n mystery as does the authorship
of thnt much-tnlkcd-ef book, "The Mirrors
of Washington."
There hnve been writing men who have
hurried into indignant denial of having
fathered it, while ethers have slyly cn cn
ceuraged reports te the same effect. It rc
innins n fact, however, that even the initi
ated nrc unaware of the source from which
it came.
Many incidents have resulted. There is
the case of Senater Hiram Jehnsen, of Cal
ifornia, for instance, with whom the author
dtalt in n spirit somewhat denuded of
charity and kindliness. Senater Jehnsen
read the book and seethed. He ran back
ewr the incidents set down in it and the
men with whom lie had talked en these
subjects.
Yes, he knew the man. There was but a
single Individual who could have known
what was here written. He would triturate.
lambaste and demolish tills scribe. He would J
write him such n letter os would make him
hang his head for shame. He would drive
him te oblivion, lie dictated n letter in
tended te accomplish all these ends.
And what de you suppose that newspa
perman answered? Well, here Is the letter
that he, in his callousness, wrote back.
"Dear Senater." he said. "Yeu (latter
yourself. Had I written the 'Mirrors of
Wnshltigten' I would net have mentioned
you ut nil."
T. Frank Appleby, of Asbury Park, N.
.T., is the most extensive operator in real
estnte in Congress. Hu hns an office in
each of these splash, splash towns from
New Yerk te Atlantic City along the Jersey
Const.
But down in Washington his special mis
sion lies In averting the impending stroke of
tragedy as it se fiequently hovers with re
lation te the immigrant.
There was the case of Emilija Brenlkn,
sixteen and fair, lustreus-e.ved daughter of
Poland. Emlllja had two brothers in Jersey
nnd one who hnd gene te war and failed
te come back. Many obstacles Intervened te
prevent her getting te America,' and then,
finally, at Ellis Island, shu stubbed her tee
en the literary test. She could net de the
amount of rending required.
Se Emilijn was te be deported. The day
of her sailing wns set. The day arrived.
She was te depart at 12. Already It was
U:'!0.
Representative Appleby was nt Washing
ton working just ns these In the movies labor
with the Governer for a reprieve as the
deemed mnii walks te the electilc chair,
Just as the gangplank was being pulled
up a hurried messenger appeared, waving
n pnper. It was a reprieve for Emlllja
Brenlkn. Fer one mouth she was te b'e
placed under the protection and tutelage
of n geed priest at Perth Ambey, after
which the literary test would again be given.
The reprieve had been made possible by Mr.
Appleby and the long-distance telephone.
A friend of mine sat by in Geneva net
long age when n conference wns being held
between Albert riienius, head of the Inter
national Laber Office, created bv the Ver
sailles Treaty, bearded, explosive French
man, and Elliet Goodwin, typical American
dliccter of the Chamber of Ceinmcne of
thn United States and largely responsible
for the existence of the International Cham
ber of Commerce ucently established in
Paris.
These tvve cenllemen nre representative
of two nations quite surprisingly mixed un
l the nftalrs of the wide, wlde world
through the developments of the last half
dozen jenrs. As a consequence, each has
been boiling up en the language of the
ether.
Se when tbev met nt Geneva. M. Themas
spoke In voluble French, which wns quite
veadllv understood by Mr. Goodwin, of
the I'. S. A. When that individual re
tmted. however, he used the Inngunge of his
own country nnd talked right nut In the
tongue in which he is nccustemed te giving
cn-prcsslen te his thought, M. Themas "get
him" readily.
Thus they chatted along for half n day
each hesitant in attempting te enunciate
the language of the ether, but each suffi
ciently familiar with it that he could quite
well get the meaning of the man ncresu
till! IMUIC. lirir uiu KIMHi p.m vviftim
Uens as'thls taklnjt place tedsy. eonTsr eenTsr eonTsr
ktien. that bas tb h It et ,Mpf twetM
aVilWA
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JL 1 V m J.tJLJl. JLMp JLfl. JL X VJ JL JL AM. Kf ....
Daily Talks With Thinking Philadelphians en Subjects They
Knew Best
J. W, SPARKS
On Protection of Investors
THE elimination of the dealers in worth
less securities Is one of the greatest
finnnclal problems of the present day, te the
solution of which the best efforts of these
agencies most Interested should be. mnde,
according te ,T. W. Sparks, head of one of
the largest brokerage houses of Philadel
phia. "The sale of worthless securities," said
5Ir. Sparks, "Is one of the most formidable
mennces of the public today. The amount
of money secured in this manner annunllv Is
large, and it Is a business which should be
wiped out by these agencies most directly
affected, nnd who are best able te de it.
"These agencies are the bonks and trust
companies, the newspapers, the stock ex
change, the telephone companies, the owners
of the properties in which this business is
transacted and the lnw. If these interests
would combine the evil could be eliminated
in n short time.
"The bnnks nnd trust companies could
aid by refusing te hnndle the accounts of
persons whom they suspected of being im
plicated In this kind of business, the news
paper's by exposing It wherever It occurs,
and the stock exchange by placing any in
formation which It might obtain In the
hands of the papeis. The telephone com
panies play nn important If unconscious
part In this business, for most of the solici
tation Is new done ever the phone, nnd I
have heard that certain of these houses have
regular batteries of phones nnd search the
directory for prospective 'customers.' Then
again, the phone gives quicker results and
there Is no documentary evidence In the
matter as Is the case with a letter or cir
cular. Landlords Could Help
"The property owners could de their pert
by refusing permission te such tenants te
remain in their buildings nnd the law would
play its nnturnl role In quick nnd thorough
prosecutions. If these severul agencies could
njid would unite In nn effort te wipe out tills
business, the market in worthless securities
would buffer n fatal slump iu a very short
time.
"It is perhaps needless for me te say
thnt this dealing in worthless stocks nnd
bends Is done by persons who nrc net mem
bers of thu stock exchange and ever whose
actions the exchange has no jurisdiction,
but a large percentage of the public Is net
acquainted with the facts in these cases, uud
in the minds of n large number of persons
the exchange is unjustly held responsible for
transactions for which it Is net only net
responsible, but which It would gladly end
forever If It could be done.
"Anether element which enters lnigely
into the sale of worthless securities Is the
Ignorance of the public as te the stocks and
bends which they purchnse. A great many
persons buy first nnd investigate afterward,
when it is tee late nnd when their money
bus gene. Many persons will take the un
supported word of a mun who calls them up
en the telephone nnd recommends certain
stocks as geed, and will place un order te
buy them without any fuithcr cffeit en their
part.
"The vcmedy for this Is te consult a bank
or n trust company or a brokerage firm in
which absolute confidence may be placed.
This is just lis effective u remedy for these
conditions as it is possible te get. and it lies
in the hands of the public itself. But the
history of the worthless securities market
has shown that they will net apply it, iv0.
pie continue te buy securities without the
proper amount of investigation, and se long
as they de this theie will be worthless ones
sold. It is difficult, Indeed, te protect pee
pie against their own inclinations and
actions.
Bucket -Shep Evil
"Every stock exchange has waged war for
venrs en the bucket-shops In their own
cities, but the evil Is still with us. 'hlln.
delphla Is particularly bad In this respect
and the bucket-shops uppeiir te flourish
here te an unusual degree. A new device
has come Inte existence nmeng this class of
dealers, A sale of stock will he made te a
customer and the stock actually purchnseil
Then it will be Immediately sehi bv some
one, generally a member of the biieket-shen
firm, trading under another name. '
"On the face of it the transaction leeks
pvfertly legitimate, but It, Is bucket ffS
Just the same, because the 'stock Is nev.r
delivered te the customer whn ,,.i.i .. .r
But the apparent legitimacy of the tni'
action makes It difficult te'dwl with T"
sum. If tba Method deea St?ii J "l
Jvve '...' ' - - T """ "
imtofeY '..
FINISHING UP
a
within the law, it makes it hard te invoke
legal action.
"In this connection I cannot de better
than te quote the words of Seymour Crom
well, president of the New Yerk Stock Ex
change. In a recent address when he said:
'Against this new peril the stock exchange
has set its face. The stocks of clients,
bought for clients, must be carried for cli
ents, net only by members of the stock ex
change, but by nil brokers who have the
slightest connection with the exchange. Ne
stock exchange firm can evade responsibility
for the names which it places en its books.
Hew can the exchange successfully repudi
ate the bucket-shop en the outside when
some stock exchnnge firms nccept the ac
counts of houses doing this dishonest busi
ness? The excuse thnt they de net knew
will net held. They should knew, nnd I be
lieve thnt nny house taking such ncceunts
with proper diligence would knew.
Protecting the Invester
"Mr. Cromwell hns the right idea, and I
hope the time will come when a practical
working out of this thought will be In force
all ever the country. It will menn a saving
of millions of dollars n year for the public.
"At the same time the public nt large
has little idea of the measures for its pro
tection which arc in force in the stock ex
changes. Every reputable house has Its
hooks audited regularly, net only as a pro
tection te Its clients, but te safeguard it
self as well. The Beard of Governors can
call for an audit of the books of any of its
members nt any time, and this is done fre
'luently. Of course, in the cases of houses
vyhieh nre net members of the stock ex
change they have no authority. As a result
the violations of tthe very strict exchange
laws by members of the exchnnge nrc Infre
quent nnd they nre invariably followed by
the severest punishment.
"The penalties Inflicted by the stock ex
change itself en these of its members who
violate its laws nre such us te deter unv
but the most foelhnrdy or reckless from
even contemplating such action. Net only
me the offenders expelled from the ex
change, but their careers as brokers are
utterly and irrevocably ruined.
Advantage Over the Law
"By administering its own punishments
the stock exchange hns n certain advantage
ever the law, especially In the matter of
speedy. action. Legal measures may be de
Injed sometimes indefinitely bv skillful law
crs, but the penalties of the exchange ure
net only severe, but nre also immediate
"There are also ether protective meas
ures, such as the fund which must be main
tained with the stock exchange clearing
house, ami In every way possible the ex
change endeavors te protect both itself and
these who de business through Its members
by severely punishing these of its members
who are guilty of practices net In accord
with the rules of the exchange
"Tim stock exchange has a great nnd im im
pertnnt work te de in the distribution of the
securities of the great corporations of the
country. Considering' the Immense nmeunt
of business done annually, there are verr
few who fall te measure up te the standurds
of the institution. As n class the stock
exchange people try te render honorable,
efficient and intelligent scrvice te the neo nee
p e nnd try te fill adequately the Important
pluce which it occupies in the financial
community." fll
Any man who has the foolish notion
thnt one man is as geed as another In a
iepiiblc should listen te the walls (nt ti.i.
late day!) of United States Senators bceas0
they were net away up front nt the funeral
of the Unknown Soldier en ArmlsMce Da?
It may easily he that the War Department
made an cr.er ; but. en the ether hand, there
seems n foolish hurt pride In thn eh h int
of Senater Stanley im bureauch". Zuni
department clerks nowadays can tell u Se n
nter te pe way buck and sit down. Aw
shucks. Senater! We knew office boys who
could de it. ' ' '
A moving. picture firm will anneal in
court the decision of the New YeRnUw
barring certain newspaper jokes from the
screen. U have no direct inteiest i e
mutter. One of thu jokes cited ,
thing. Of either It nilght he inld ?t ' n
In peer taste. But It Is a grenT ,f "J? thV
motlen-plcture people can't di their Vvvn
censoring ns the newspapers de. tL m
-. - ., T
taW "g,
w' erfp-K" - . s
- giaV .j". S
t " yz dc ' i m v.
. '"B
, "m
WHEN Baker dispenses
The Federal cakes
His prestige immense is
And progress he makes,
"lis dough that Is needed.
They'll get it or bust.
Pretests nre unheeded;
Xhese chaps hare a crust.
But Wrong is n. faker
Who rurnrrentlv allna
When RIter raps Baker'
The firmament rips. '
One of the first results of the big fair li
oratory. ' ?
Girls nt Penn object te being called tf
i .' W,h.y thp P0"? tnc- inquire. All
right, girls. WeMljnnke it "coo." ?
It Is no mere coincidence that the dle!
tntes of humanity nnd sound business Is-,
tertsts ure hitched se often te 'the iim
niSl,e ?.fu 'IV t,hinR" t0 consider In cesl
nectlen With Vnnl'u nfr - r i. el.il
wd1'aUseffer,r,ed1?0ly Wnnt " and ,f "''
t.-i1!!l'.t from. t.hese who make It flntl
"7 iV8 e bet that the second choices
,.?!,", fv.n,r..Mt n M fair-site boosters
nuuiu uv uiu raricway.
TteifIf,',Iraipi,n,f .f clnM A constable, li"'
nll m fe,l0,u:J by kidnapping of CliMl
of A?b. CN' Ve..trurt ,here ' no Gratia,
of going threughjhe entire alphabet.
i J-'ir.?!0? K."!,w.!'ck. . tailors 1
nVi,.r i,., " minniic uity. Takleg as
nrnmliJE1 C.Y, ns U wer( 'creased demand
premised this summer for safety pins and
r..hl inMr t rem M-000 te 40.000
'OOOO rnhiV"1 te havc il "starched,
:u0;,rfer,bs,ae;.'cdges.eXtra We
tlen V'eTS,i'?.?r..tilt W. J. Bryan's ebfe.!
tienrr . """'i '" " nt according te tM
rathe? ,n ""?"! .! .I?P
ce..tTA.ne;.;rr ' ' .reu-u,oeuc" 1W '.
Joed1 Pnr?feS".er. lI('c'"es, n whipping k
tr'li'ncelnn'deype0'" """" ''
What De Yeu Knew?
QUIZ
i' w'h2i Is meant b' Saerstatt?
? nt.,a,f mercn?
a i- he ls Mahatma Mobendas K Ohandlf
4. Name the author of "The Virirfnlani
' W,e WmtT9 f tl,e "lOTl'nTSSRSStr;
c' W1isrit 'iiw- I',lan(, nnU ter wW
s ml!' ils t.,; Pronunciation of "sheik"? '
T?ni2,itl!f .Dl2ecra,l Ieader " tin
e iTTKUnlt,ea,stfttH Senate?
10. What is the nickname of New Yerk State?
Answera te Yesterday's Quiz
1. Downing street Is In Londen, and one
1,1 l.!,1uwJ! nn u ,R tha residence of thi
Isrltlsn Prime Mlnlaier Tr.na (ha
phrase "Downing Street" is sometime) .
llRurf an n .liWikAl .. ...... ..lal
DO lev. "
2. The prayer, "Pre Papa," u ene recited
in ine (jatneiic cnurcli for the spiritual
guidance of the Pepe. The words mess
"Fer the Pene."
3. Washington Irving wrote "Knlckerbeckv
. or.". "'S'ery or New Yerk." i
4. The Keystone State U ih niebnnma ar
popular name for the ConimenireaKa'
or rennsyivama,
D. Beth r simile and a metaphor are alia1
in that they convey comparisons. The
former Is an expressed comparison In
troduced usually by "like" or " i
the Intter ls an lmellerl rnmnnrlsen.
6. Field Marshal Lord Allenby Is the Erlt'j'
se iiikii uomnussiener who is ueuiuit .
nun UIU 1.)J1IIU BIIUHHUO. . ,'Jl
7. The lines "I fain would climb hut that I
rear te fall" are ascribed te sir vw!
Tfn1al(rVi lit It n la . Iil limtn 1i1 P01M
aHtiuinii, miiu i iwim iu unto wae---.j i
them te Queen Kllznbeth. She Is enjlt
te VinVA nlniMiil lil linneu it n maul' I
menlal nlllknte with the renmi,:
ceupiet, -ir my Heart netn ran -de
net climb nt nil." .. i
8. Pairs of cities, separated continent ww.
having the same names, ure J'ertlami
and Huleni, Oregon, en the l'aclltu tK
heard, anil Portland. Maine, ana
Slein, Massachusetts, en the Atlf"
Kefllinnrrl. A
J. The Heuso of Savey Is the reigning,"?
uy ei iimy. . .!
10. A cucurbit Is one of n family of v.nj
J uunis. producing catame WW
neluding eggplant, cUcunibjrl
Wl JB-C . $
'- M'. Wctf:
"-.wis a-t.S't
lifttftlnV ...,, 4 .U.
k.tTk
MjLmi.&W?&Ali
Ji
v .. v
lUy
tAtrfi'f"
ldt
M.