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Security Prices Not Vital
Importance in Nation's Life
From The Business Week.
At this time it is especially deplorable that such
exaggerated emphasis should be placed upon what is
going on in Wall Street. There is no reason why busi
ness or the government should act at any time as
though security trading or security values are of
paramount importance in our economic life.
The business situation in the United States or any
other country is not made or destroyed by conditions
in the security market. Prosperity does not depend
upon the price of stocks. Progress is not measured by
the volume of securities floated or sunk or the amount
of money that changes hands in buying and selling
them.
Fundamental conditions of business itself—the cre
ation and exchange of useful goods and services, the
advancement of industrial science, the efficiency of
business management, the wise use of credit, the ex
panding employment of labor—in the end determine
conditions in the security market. These tilings are
the chief concern of everybody. Upon them alone the
general welfare depends.
In the face of violent vituperation and political pres
sure, the Federal Reserve System has done the nation a
great service by resolutely and steadfastly conserving
the credit resources of our banking structure so that the
universal and permanent interests of American business
as a whole shall be protected.
Two-Year Celebration
Planned for Virgil
NEW YORK— —Publius Vir
gilius Maro, whose “Aeneid” is con
sidered by scholars to be one of the
most beautiful poems ever written,
will have the two-thousandths an
niversary of his birth celebrated in
elaborate fashion.
Members of the American Classi
cal league, composed of leading
scholars of the country, are back
ing a two-year celebration of Vir
gilian prose and verse, in /j30-31.
Among the prominent men and
women interested in this movement
are Dr. Edwin A. Alderman, presi
dent, the University of Virginia;
Mrs. Calvin Coolidge, Prof. William
Lyon Phelps of Yale university,
and Kenneth M. Sills, president
Bowdoin college.
The “Bimillenium Vlrgilianum”
will be chiefly educational in char
acter, with magazines and news
papers giving space to extracts
from the poet’s writings.
Increasing City Bureaus.
From Lincoln Journal.
Within a comparatively short
time, several months, the govern
mental machinery of the city of
Lincoln has expanded greatly. The
city council has established a num
ber of boards which have the task
of carrying on the activities al
lotted to the council. The new ad
ditions include an aviation board,
a water board, a board of zoning
appeals and the council is now
seriously considering two more, a
park board and a golf board.
The rapid growth of boards in
city government is a matter of con
cern to citizens. Any growth at all
under the commission form of gov
ernment is a bit surprising. The fact
is that bv delegating authority or
advisory duties to these various and
sundry boards, the city is being de
prived of the commission form of
government without the consent of
its visitors. Lincoln long since dis
pensed with the cumbersome city
council form to adopt the more busi
ness like, more compact and effi
cient commission. At the same time
the slow moving council was dis
pensed witfy the old park board was
Sheep Dog Is Forest Fire
Hero; Saves Entire Flock
STEVENSON, WASH.— (UP) —
This is the story of Laddie, a ner
vous little shepherd dog.
During the recent forest fire
which destroyed the town of Green
leaf, Wash., located 15 miles west of
here on the Columbia river, and
which threatened destruction to
Stevenson, Laddie became the' hero
of the day.
Fires were raging along the slopes
at Hamilton mountaih and along
Woodward creek. Between the two j
waiu of flames a flock of sheeD was 1
ruled out. Now we are returning
to a park board together with six
approved and one suggested board.
The result is a more cumbersome
and top heavy city government.
The city commissioners, by cre
ating these boards, have indicated
a willingness to sidestep responsi
bilities which are rightfully theirs.
Instead of handling city business
they are passing their duties on to
newly created boards. The result is
slower governmental processes. A
city commissioner is responsible to
the voter. If he has a board he has
something to which he can "pass j
the buck.”
Under the present system each i
commissioner, with his employes,
and their friends, has a small po
litical machine. By adding a few
boards, the members of which may
find it gratifying to hold a public
position of this sort, the machine
is enlarged and expanded.
Cumbersomeness, together with
other undesirable features, forced
the old council-mayor system to
give w'ay to the present commis
sion form of government. Now,
under the commission, the city is
rapidly approaching the same con
dition.
School’s Marriage Ban
Is Overruled by Court
JACKSON, MISS.- -Mar
riage is a legal and elevating rela
tionship with which educators in
Mississippi must not tamper, accord
ing to a supreme court ruling.
The decision was made by Justice
W. H. Anderson in the case of
Wanda Dodge Myers, 16 years old,
against the Moss Point school of
this city.
Mrs. Myers was denied entrance
to the school to pursue her studies
on the grounds that “presence of
a married student would be detri
mental to the good government and
usefulness of the schools, and re
lations cf married persons with
other children would make known
views of life which should not be
known to unmarried persons.”
“We fail to appreciate the force
of the arguments,” said the jus
tice’s opinion.
grazing peacefully. C. H. Craig, Har
ry Patrick apd Mrs. Craig were
tending the flock jrith their two
dogs, Laddie, and Cap.
The sheep (became <panic stricken
as the flames raced an toward them.
Efforts to get. them out of the place
was made by the herders. After
hours of tireless efforts in which a j
be!l%goat, Billie, was drafted in an
attempt to lead the flock away, the
herders gave up the task and left
the sheep to the fate of the demon.
But Laddie stood by.
Attempts \vTere made by the her
ders to reach their sheep and Lad
die again, but the flames had
Jumped the road, cutting them off.
The ne*$ dav the fire had sub
4444444444>444t444
4 4
4 HARD LUCK RIDES 4
♦ YOUTH THRU CIIs'CY 4
4 4
4 Cincinnati.—Wallace Jo: 4
4 mother was seriously ill in La- 4
4 tonia, Ga. Wallace, short of 4
4 funds ,was in Columbus, Oh.o. 4
4 So he figured it but and drcld- 4
4 cd on riding the rods to Geor- 4
4 gia. 4
4 He had reached Cincy when 4
4 hard luck Joined Lie party. H*1 4
4 was nearly caught trespassing 4
4 on railroad property. But i 4
4 succeeded in making his way to 4
4 Newport, Ky., where he decided 4
4 to ref. :sh his memory of food. 4
4 Wallace walk 1 into a soft 4
4- drink store and ordered a gl * 4
4 of buttermilk. All his ready 4
4 cash, a $10 note, vent across 4
4 the counter. In due time a pint 4
4 of hooch was delivered to him, 4
4 instead of buttermilk, and no 4
4 change from the 10-spot. 4
4 Argument made no impres- 4
4 sion on the proprietor, so our 4
4 hero went to the police, who 4
4 confiscated the booze and ar- 4
4 rested the proprietor. Following 4
4 which Wallace left town empty 4
4 as to purse and stomach—still 4
4 bound for Georgia. 4
4 4
#•4444444444444444#
Motor Fuel Is Made
From Tar of Fir Tree
CHICAGO - — “Gasoline"
made from trees is announced In
a report to the American Chemical
society by Dr. Jacque C. Morrell and
Dr. Gustav Egloff of Crieago.
They have produced an anti
knock motor fuel from the tar in
the Douglas fir. While this fuel now
is in the laboratory stage, the report
says it can be made in commercial
quantities from present wood waste.
“The development of a practical
and economic means of converting
wood waste into motor fuels,” says
the report, “has a deeper signifi
cance than the immediately im
portant factor of conservation—it
provides a source of motor fuels
for the future which is under the
direct control of man.
“Our great store houses of poten
tial motor fuel from petroleum,
coal and oil shales are heritages
from past ages, while wood tars and
other vegetables are producible un
der controlled conditions.
“Approximately 24 per cent ol
the standing tree is converted into
useful products, while 76 per cent is
wasted.
“As an example of the possibilities
of the utilization of this waste,
from an average annual yield of
7,500,000,000 board feet of Douglas
fir the equivalent of 2,500,000 cords
or 4,200,000 tons is available for
destructive distillation, yielding th*
following products:
“Turpentine and light oils,8.500,
000 gallons; tar, 70,000,000 gallons;
wood alcohol, 9,780,000 gallons;
acetate of lime, 187,500,000 pounds;
charcoal 2,440,000,000 pounds. And
a large yield of gas for fuel.
"The 70,000,000 gallons of tar will
will produce by cracking, according
to recent research, 23,300,000 gal
lons of motor fuel equal in anti
knock properties to benzene.”
These figures cover only one kind
of wood. The report says that wood
tar may be used to manufacture
low-boiling tar acids and phenols,
and that pine tar is suitable for
making solvents and paint thinners.
sided temporarily and passage to th*
grazing ground was made. Upon
their arrival they found no sheep,
not even a piece of fleece.
They searched the adjacent vicin
ity and soon the tinkling of a bell-*
the one worn by the tin can eatejr
—was heard. Then the flock cams
into view.
And there was Laddie, a nervous
wreck racing ’round and ’round the
flock, keeping them together. Not
a sheep was missing nor was a
fleece scorched All were brought to
safety through the dog’s efforts.
There are more than 6,300 tele
phone operators employed in Lon
don exchanges,
Where $50,000,000 Went Up in Smoke
m » .*-^1,- t.4ji ««■.«. •*K1 ~ '■•
Captain E. W. Nast and J. C. Wist, of the Hollywood
Fire Department, inspecting rolls of film in the
laboratory of the Consolidated Film Industries, at
Hollywood, Calif., following the explosion and fire
which caused an estimated damage of $50,000,000
and loss of one life. The bulk of the loss lies in th*s
destruction of the countless rolls of master negative
feature films which cannot be replaced. The building
itself was only valued at $400,000.
International Newt real
Set New Kite Flying Record
* ' 1
Truman Diehm and John Garman of New Holland, Pa., who set a new
world’s record for kite flying, during the endurance contest staged in
Landcaster, Pa., recently. The boys kept their kite in the air for seventy
five hours from October 18 to 21. They ate and slept in the open and
jeceived sDecial permission from school authorities to forego their studies.
International Newsreel
New Prune Minister
rames Henry Scullin, labor leader
who has been appointed Prime
Minister of Australia. For the past
year he has led the Labor 1 arty
that at the recent elections swept
everything before them, defeating
the “old guard” of Australian poli
tics by a strong majority.
International Newsreel
To Wed Royally
Rumor has it that Miss Bprnardine
Murphy, daughter of Daniel Mur
phy, wealthy California hanker,
will shortly announce her engage
ment to Prince Borromee of Italy.
Inlaraallnnal Namar r 1
Denounce College Athletic Conditions
-■ 4' s-*. ■ k
Dr. Henry S. Pritchett (left), of the Carnegie Foundation in Pittsburgh
and John T. M’Govern, consulting counsel of the founds on, who were!
among the signers of the recent football report that contains a scathing*
indictment of athletic conditions in colleges and universities throughout!
the United States.
Iuternatlonal Nevrnreel
Flying Police Slarl Training
Left to right—Quelle Friedman, Otto Kafka, John
Kehoe, Lieutenant A. W. Wallender, Rodman Wana
maker 2nd, Louis E. Wackerly, Thomas Mason,
George Wanderling, Louis Davenport and Charles A,
Duffy, all members of New York’s new police flyhg
squad. Wanamaker is one of the leader/of the Mg,
police group.
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