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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (April 10, 1922)
Fhe Omaha Daily Bee
yOU B1-NO. 254.
Hill t Cut Strength to 67,000
Men and 6.356 Of firm.
Attacked in Minority Re.
port of Committer.
80,000 Pennel Urged
T The AwkM Ttm.
Winhitigton, April 9, The rro
Tout of the hue appropriations
committee for naw in 19,'J of t7.
WKl mm att'l 6,350 officer hi vigor
env'y attacked today in a minority
report tinned by five republican and
one democrat and in statement i"v
sued" by Kcirrrnumf Britten ot
lllmoi and McAril.ur, Oregon, re
liubtit an member of the house naval
A reduction of the naval force ot
I'nitrd State to the extent
recommended by the committee
would ignore the basic naval policy
set down by the arm conference,
the minority report declared. assert
ing that an enlisted personnel of
Wi.OOO with 6,000 apprenticei would
be necessary to keep the United
Slate abreast of Great Britain and
ahrad of Japan.
Ueprrsentative Britten aid if the
bill "had been framed by British and
Japanese delegate with the intention
oi wrecking the American navy, they
could not liave more deliberately re
I'uced the United State to a third
rate power." while Representative
McArthtir faid a canvass he bad
made gave liim hope of the adoption
of an amendment providing for 80.
In Third Place.
"For thefirst time in it history."
Mid the minority report filed by
nix member of the impropriations
committee, "this country ha adopt
ed a naval policy. It mean equal
ity with the -trongest. If that pol
icy is now disr'p.nrded bv adoption
.f the naval bill we will sink to
the rank of a third-rate naval pow
er with little voice in any future
"No one doub's that the potential
superiority of the American navy
ws the controlling factor in the
t'egotiations of the recent confer
ence. Had our delegate ntgotiat
el a treaty that placed this country
below Great Britain or Japan in
naval strength, they would have
he;n denounced as trvtors not a
single vote of the senate would have
been recorded in its favor yet this
bill proposes to place the country in
that very position."
"".The icport was signed by Reprc
eirt4jye Tinkhain, Massachusetts;
Vare.T'enns.vlvania; . Wason, New
Hampshire; Magee and Husted. New
York, republicans, and Gallivan,
Ignores 5-5-3 Ratio.
;The underlying principle or.
which, in the future, the strength
of our navy- must be determined is
its strength in relation to Great
Britain and Japan," the report said.
"This is the policy of the 5-5-3 ra
tio,, that is equality with Great
Britain and 5-3 of the strength of
Japan. The bill ignores this baste
policy and bears i;o reference to thtj
ft'iier powers whose strength must
riciermire our proportion in this
"This bill is an attempt to disre
gard the navies of Great Britain and
Japan., to give us the smallest force
of the three and to establish a prin
ciple for which no responsible states
man in' the world's history has ever
stood the principle of limitation of
armament by example.
"The provisions of this oill are not
only in opposition to the basic naval
policy of the country, but are in op
position to the views of President
Harding, Secretary Denby, Assist
ant Secretary Roosevelt, the chief of
liaval operations, the commander-in-.,Wf.
of the fleet, the general boar'd
and of every officer that has been
called in the hearings."
Plans of Japan.'
Japan, the minority declared, con
templated an enlisted strength of 68,
252, "which is ovtr 1,000 more than
allowed pur navv."
"Under the S-5-3 ratio," it added,
"wc should have 110,000 as compared
w.th Great Britain and 113,000 as
comoared with Japan."
"Prospects of an amendment be
ing added to the 1923 naval bill pro
viding for 80,000 enlisted men are ex
cellent," Representative McArthur.
OreKon. also a republican member of
the committee said, adding that his
prediction was made after canvassing
the house membership.
1 "If the appropriations committee
continues this policy of attempting to
legislate by withholding funds for
the proper activities of the govern
mcnt. said the Oregon member,
"there will soon be a revolt among
bouse members and the present sys
teni of centralizing all appropriat
ing power in one committee will be
Champ Rider of Outlaw
Horses Killed by Train
Valentine, Neb., April 9. Adam
Marshall, widely known exhibition
wild west rider, was killed here yes
terday when he fell under a North
western train. Marshall is said to
have been beating his way here from
Marshall gained fame 'in southern
camps during the war as a breaker
of wild horses. He had won highest
honors in numerous frontier and
wild west exhibitions. He had an
nounced that he contemplated com
peting for the world's championship
in bareback riding this summer.
R. B. Howell to Give Talk
on Radio at Central City
Central Citv. Neb.. April 8. (Spe
cial) R. B. Howell of Omaha will
speak before the Business Men's
club of this city Aprit 14 on radio
Audrey's Search for
"Perfect Man" Ends
Omaha lb mw4 Mir.
Sracuc. X. Y., April 9. Wooed
by cowboy, athlete, butcher, bak
er and candlestick maker to the
number of 2" HI since she announced
her search for a "perfect father for
l.er perfect childrcu-to-be,w Audrey
Munson, world famous sculptor's
model and film star, will surrender
to Dan Cupid early in the summer,
according to an announcement by
her mother, Mrs. Katherine Mun
son. The lucky aspirant for Miss Mun
son's hand, her mother announces,
is Joseph Stephenson. Ann Arbor.
Mich., contractor and world war
Mis Munson's last stage appear
ance was late last fall when she
filled personal appearances bookings
with one of her films in middle west.
The tour ended in disaster and Miss
Munsoii'was reported stranded n
Illinois, finally she reached Koch
ester, where she announced the for
mation of a new film company bear
ing her name. During her western
tour Mis Munson was arrested on
the complaint of St. Louis clergymen
who complained that .her costume
was too scanty.
Man Kills Baby and Two
Young Sons and Shoots Self;
III Health Believed Cause
. of .Tragedy.
- Charlotte;"' X: C.;'Apnt '9. John
Helms, farmer. 40, today murdered
three of his five children ' with art
ax and then committed suicide by
shooting himself with a shotgun.
The tragedy was described to the
police by his daughter, Ruby Lee,
13, the only. member of the family
at home to escape.
According to the child, she was
walking in the yard of the Hlems
home this morning with the baby,
9 months old, when her father sud
denly approached then and struck
the infant from her arms with the
handle of an axe he was carrying.
He then dashed into the house, she
said, emerging a few minutes later
with a gun. Placing . the muzzle
against his cheek, Ruby said, Helms
leaned down and pulled- the trigger.
It developed later tjiat Helms had
murdered his two. sons, Broncho, 8,
and Bleeker, 4. as they lay asleep
in bed. Mrs. Helms escaped with
the fifth child as he entered the
The authorities put forward the
theory that 'Helms had become sud
denly insane as a result of continued
ill-health. ' ,
Political Aspirants in
'Johnson County Total 25
Tccumseh, Neb., April 9. (Spe
cial.) Three new political filings for
office in Johnson county bring the
total up to 25. It is said there will
be others. The new filings are
Charles Kavanagh of Tecumseh,
democrat,- for sheriff; J. W. Harvey
of Vesta, democrat, for member of
the board of county commissioners
from the First district, and Miss
Elva McCoy of Tecumseh, nonpar
tisan, for superintendent of public
instruction. - .
Brother-in-Law of Tecumseh
Man Killed in Accident
Tecumseh, Neb., April 9. (Spe
cial.) C. G. Allen of Brookfield,
Mo., a brother-in-law of A. R. Tay
lor of Tecumseh was killed in an
accident, and Mr. and Mrs. Taylor
have ' returned from Brookfield,
where they went to attend the funer
al. Mr. Allen, an engineer in the
service of the Burlington, was
scalded and otherwise injured when
a freight car was kicked into his
engine cab by a switch engine.
17th and Farnam
AT lan tic 10OO
Storm SVerp Over Lone Star
and Adjoining State To
ward Arkansas 80
Death List May Increase
llr T1 AaMlall FrtM.
Dalla. April 9, Seventeen per
son are reported dead and more
than 80 injured a a result tf tor
nadoes and rainstorm which wept
from west Texas rant into Oklahoma
toward Arkanta Saturday.
The list of casualties reported
Kunnrl! county, near Rowina,
Tex., nine dead, 20 injured.
Oplni. Callahan county, four dead,
l'.lectra, one dead, several injured.
Cleburne, Tex., one dead, one in
jured. Lawton, Okl., two dead, 17 in
jured. Dallas, five injured.
Cisco, Tex., two injured.
Kauger, Tex., one injured.
Caddo, Tex., six injured.
Whitewright, Tex., one injured.
Kcho. Tex., six injured.
Breckcnridgc, Tex., three injured.
Graham. Tex., one injured.
Johnson and Stephens counties
each reported damaee amounting to
I500.0OO. Thirty oil derrick were
Rowcna. Runnells county. Texas,
was the first to feci the effects of
the storm. The tornado swept
across the country for a distance of
40 miles, striking in five different
At Ranger, Tex., property damage
of $25,000 was reported. At Coddo
100 oil rigs were wrecked.
Oklahoma City. Okl.. April 9.-
Central and southwestern Oklahoma
was pulling itself out of .a
mire and checking tip the damage
sustained in a series of windstorms
and torrential rains which visited the
area early in the day.
The most severe storm damage was
sustained at Lawton, where two per
sons were killed, several injured and
more than a score of homes de
stroyed. Twenty-five families were
made homeless. Chickasha was also
hit by a heavy wind which caused
damage estimated at $30,000.
Rains, which in many localities
were the heaviest in years, have put
many rivers and . streams out . of
banks, and railroad and highway
travel is interrupted, particularly in
the south western part, of thotatc,v J
Former Chief of Staff
of German Army Dies
Berlin, April 9. Gen.' Erich Von
Falkenhayn, former minister of war
and one time chief of staff of the
German army, died Saturday at
Wild Park near Potsdam.
General Von Falkenhayn was ap
pointed war minister of Germany in
1913, succeeding General Von . Her
ring. Shortly after the outbreak of
the . world war he was appointed
chief of the general staff, succeeding
General Von Moltke, who was de
clared to be ill.
In August, 1916, Von Falkenhayn
was supplanted by Von Hindenburg
and shortly afterward tok the field
in Transylvania against the Rouman
ians. He was born in 1861.
Theosophist to Give Three '.
Free Public Lectures Here
A series of free public lectures by
Max Wardall, national lecturer for
the Theosophical society, is announc
ed for April 14, 15 and 16. Mr.
Wardall, who has just returned from
Europe, where he spent nearly three
years in relief work and study of
economic conditions, will take as his
subjects, "Wrestling With Fate,"
"High Percentage Psychology," and
The lectures deal with such vital
problems as evolution, fate, master
of environments, self-healing and
Mr. Wardall served overseas dur
ing the great war as a captain In
the infantry and was at one time
acting mayor of Seattle. .
Bible Conference to Be
: Held in Omaha April 23
An important Bible conference
will be held in Omaha Sunday, April
23, under auspices of .the Christian
and Missionary alliance. The ses
sion will be opened by Rev. Robert
R. Brown, , a powerful speaker, well
known to members of the alliance,
which is interdenominational. Place
of meeting will be announced later.
Paul Rader, president of the Chris
tian and Missionary alliance, will
reach Omaha early in May on his
way east from the Pacific coast. He
will attend a conference of the air
liance to he held here.
Officers of Defunct Bank
Arrested on Federal Charge
Mohall. N. D., April 9. A. L.
Wiebe, Walter Bergman and J. C.
Peters, officers of the defunct Mo
hall State bank, have been arrested
on an indictment charging misuse of
the mails, returned by the federal
grand jury in Bismarck, it was
learned here today.
The three are charged with em
bezzlements totaling $106,000 for
which they will stand trial at the
next term of district court.
Central City Business Men
Plan Auto Show for May
Central City, Neb., April 9. (Spe
cial.) The Business Men's club of
this city is planning a three-day au
tomobile show the latter part of
May. A style show will be held in
OMAHA, MONDAY, ATRIL 10, 1922.
Aged Woman Sentenced
at Beggar, Declares
Sew York Sucker Town
C .! H lm4 V if.
New York, April' 9. New York
i a "sucker town." So Mr. Emnu
Madden, 71, told Magistrate Nolan,
just before being sentenced to four
month in the work house for elicit
ing aim in the Broadway subway.
Her game, the special police of the
ubway company said, wai to "rll"
'a ragged old newpaprr, which her
customer paid for but never re
ceived. She admitted her income
wa a much a $JU some day.
"I did not sell." the told the court.
'Tcople jut gave me the money. I
would offer the newspaper, but they
would not take it. My husband ha
a $30,000 farm in Massachusetts and
I jut bet him I could rarte the rent
money in New York while he was
to Let Norton
Run for Office
Third Party Candidate for
Governor Will Switch to
Senatorial Race Edmis
ten Hints at Plans.
Lincoln, April 9. (Special Tele
gram.) J. H. Edinisten, state chair
man of the third party central com
mittee, tonight made public a letter
from Arthur G. Wray at York in
which Wray withdraws as the third
party candidate for governor and an
nounce that he will become the third
party candidate for United States
At the same time. Edmistcn made
public a letter written by him to
Wray asking the latter to withdraw
as a candidate for governor and be
come a candidate for United States
senator in order to urease the politi
cal track for J. X. Norton, president
of the Nebraska Farm Bureau fed
eration, who Edmistcn stated would
file as democratic candidate for gov
ernor tomorrow and also would be
placed on the third party ticket for
Norton Admits Candidacy.
Norton arrived in Lincoln tonight
and called at the third party head
quarters, where he tacitly admitted
he intended to become a fusion can
didate for governor and endeavor to
do his best to carry water on both
shoulders and support the demo
cratic as well as the third party plat
forms. He preferred to make his
announcement latc'r and at that time
promises to explain why he put- his
personal ambitions above the con
structive work entrusted to him by
the Farm . bureau, when he was
elected to the presidency this win
ter, v -
EdmrstriT. ' in- hiff" lctwr to ' Wray-,1
never mentioned the name of K. .
Howell but made it plain that his
urging Wray to file as a candidate
for United States senator was to
make doubly sure that eithe Howell
or Wray should become a candidate
against avowed, candidates in repub
lican and democratic ranks to whom
the third party is opposed. Edmis
ten's reasoning on the political out
come of this coup d'etat is outlined
in the following paragraph taken
from his letter to -Wray:
"Suppose that Jefferis and Hitch
cock are nominated and also sup
pose that you are a candidate of the
progressive party for United States
senator, what would be the situation?
Both republican and democratic
partv candidates would Be residents
of Omaha, both would be wet, both
would be conservatives, both would
be men who fought woman suffrage
and both would be men out of har
mony with the farmer movement.
"But as to yourself, you would rep
resent all of the state outside of
Omaha, you would be dry, you would
be progressive, you would be one
who had always defended suffrage
and vou would be a man who thor
oughly understands the farmer move
Edmisten admitted that Norton
would file first as a democrat, be
cause under the .law, a third party
candidate for a state office must get
one-half of the men who signed the
third party pact to sign his nomina
tion petition and circulation of Nor
ton's third party gubernatorial peti
tion will take time.
Third Party Confident.
"However. I know Norton will file
as a third party candidate," Edmis
Wray in his letter stated that he
withdrew with the understanding
that Norton would become the third
party candidate for governor.
In the event tne democrats pui op
position in the field against Norton
and the opponent defeats Norton it
means that Norton to get the third
oartv nomination must get more
votes in the third party primaries
than he did m the democratic pri
maries. That is the law interpreted
by D. L. Amsberry, , secretary of
state. In event Norton has no op
position in either democratic or third
party primaries, he will become the
nominee of the party giving him the
highest vote. Edmisten stated that
if Norton received the highest vote
in the democratic primaries the third
party central committee would en
Beatrice Elks Install
Lodge Officers for Year
Beatrice, Neb., April 9. (Special.)
The local lodge of Elks held a
largely attended meeting and in
stalled officers for the coming year.
C. T. Fowble, district deputy, acted
as installing officer. A number of
candidates were initiated and two'
Fire at Table Rock
Table Rock A fire was discov
ered in the lower town by the con
ductor of a freight train. It was
too late, however, to save the house
which belonged to Mrs. Henry
Kreifel and had been unoccupied
for some time. Insurance of $700
was being carried on the dwelling
The origin of the fire is not known.
r- - '
to Hear Baseball
Suit This Week
National Teams, to Defend
Themselves Against Attack
of Baltimore Club Under
---Sherman Act f ' ''
Washington, April 9. After a re
cess of two weeks, the supreme court
will reconvene tomorrow with a
week-end recess over Good Friday
Among the important eases on
calendar for argument is that in
volving the Reading company disso
lution proceedings. The court has
indicated it was not satisfied that the
decree of the United States district
court st Philadelphia will bring about
a coAiplcte dissolution.
Another dissolution case under the
Sherman act, pending s:nce July,
1917, involves the question whether
the - ownership and control of the
Southern Pacific over the Central
Pacific constitutes restraint of inter
state commerce and gives it an un
lawful advantage over the Union
Pacific and transcontinental traffic
through the Ogden gateway. ,
P.rofessiona,! baseball organizations,
which are members of the national
agreement 'will be compelled to de
fend themselves against an attack
by the Baltimore club of the old
Federal league, which seeks -to re
cover damages on the ground that
organized baseball is an illegal com
bination in restraint of trade and in
terstate commerce ih violation of the
Sherman antitrust law. Although it
participated in the negotiations which
resulted in the 'peace" agreement
closing the affairs of the Federal
league, the Baltimore club refused to
abide by the terms of the settlement.
Organized baseball claims it is
not engaged in interstate commerce
and therefore is not subject to.;the
Sherman law. ' '
Three tax cases, two from Cali
fornia and one from Michigan, pre
senting questions of the right of the
federal government to tax estates de
vised under different conditions and
which the government considers of
exceptional importance because of
the large revenue which will be
affected by the decisions, are1 also on
the calendar for oral argument.
Mother of Nine Lost
Money on Election Bet;
Sent to Jail for Debt
Omaha R I.rasrd Wire.
Boston, April 9.--Mrs. Bridget
Mullen, 45, mother of nine children',,
went to jail Saturday, her babe at
her breast, because she failed to
pay a debt of $110. Her plight, "she
admits, is a result of having bet
$2,500, the last money she had, that
Mayor James M. Curley would be
defeated by John R. Murphy in the
recent city election.
Crying bitterly, the woman com
plained that her other eight chil
dren did not know where she. was
and were left at home without care.
Neighbors took them into their
homes. The woman's husband went
away nine months ago and his
whereabouts are a mystery.
Mrs. Mullen was ordered commit
ted to jail by Judge Duff in the poor
debtors' court when she was found
in contempt of court for failure to
comply with a ruling of two weeks
ago that she pay a judgment, in
cluding costs, of $100 on account of
a debt to a former landlord. '
St MtN II
The Can Opener
Entry of Christ Iiito Jerus-
-i i i . . . i . .
mvui v-cicDratea High
Mass at Cathedral.
Palm Sunday, a celebration of
C!?!!sC?. , t,ri.'i,lhal .entry .into Jem A
saium, was oDservcd in a fitting man
ner in all Christian churches yester
day. The services also inaugurated
,speciat ceremonies of holy week.
Bishop Shayler of the Episcopal
church gave communion and con
firmed a class in Trinity cathedral
at 11 o'clock. . -
Blessing of palms preceded the
masses in all Catholic churches.
Chanting of .the "Passion of Our
Lord"i was conducted Jn Catholic
churches. Solemn high mass was
sung at St.; John church, Twenty
fifth and California streets, and at
St. Cecilia cathedral, Fortieth and
Burt streets. In the cathedral Arch
bishop J. J. Harty presided . and
blessed the nalms. rpliKron
Rev. J. T. Flynn; deacon, Rev. John
jiucii, suoacacon, tiev. U. J. Sell
meyer, S. J., and master of cere
monies, Rev. George A. Smiskol.
Deacons of honor were Father Feld,
S. J., and Father Keenor, S. J.-
$10,000 in New Bills
Picked Up by Boatman
Washington, April 9. A bundle of
2,000 new $5 bills which showed no
deterioration was found by a boat
man floating in the Potomac
river near . the Virginia .side,
across from Washington, it was
learned tonicht. Th hn-tmon
turned the $10,000 over to the De
partment ot Justice.
Whether th hilU
trom the bureau of engraving and
pruning, or wnetner their finding had
anything to do with the order for
an inventorv to hp tatm in
division of the bureau which makes
Dank notes and other government
securities could not be learned.
Amundsen Plans Flight From
Washington to Seattle
a Seattle, April 9. Capt. Roald
Amundsen, Arctic explorer, will hop
off for Seattle in his new nine-passenger
all-metal plane from Jersey
City Monday morning, according to
a telegram received here by
Haakon H. Hammer, Amundsen's
personal representative in Seattle.
The telegram stated the party ex
pected to arrive in Seattle Thurs
day. Callaway Woman Escapes
Injury as Autos Collide
Calloway, Neb. While Mrs. Wil
liam Grimes of Callowav was driv
iiB vii nit mate iii8iindy near nere
in her -coupe, her car was struck
bv another and nractirallv Hrmnl.
ing on the state highway near here
ished. No one was injured, and the
driver or tne otner car escaped. I
is expected that he will be apprc
Millard Apartment Looted
While Family Was Away
Sometime between March 23 and
April 6, w hile the family was absent,
burglars entered the home of L. J.
Millard, Maryland apartments, 1 136
Park avenue, by means of a passkey
and carried away a large quntity of
clothes, jewelry nd other valuables.
The loot, valued at $600. included
bracelets, rings, brooches, watches,
furs and wearing apparel.
U. I1J. attM IM am.
Third Trial of
Drawing to End
Final Arguments in Man
slaughter Case Expected to
, Be Conclude4Wdnes
day or Thursday.
San Francisco, April 9. The third
trial of Roscoe C. Arkuckle on a
charge of manslaughter is scheduled
to enter on its closing week tomor
row. Corridor speculation, strength
ened by the opinions of opposing
counsel, set the final arguments for
Wednesday and Thursday.
Harry Barker, friend of Miss Vir
ginia Rappe, upon whose death the
charge against Arbuckle is predicated
is to be the first witness tomorrow,
his examination being continued over
from Saturday. Barker testified to
seeing Miss Rappe ill on a number
of occasions in 1910, 1911 and 1912.
He also deprecated testimony ' by
Mrs. Virginia Warren, Chicago
nurse, that she attended Miss Rappe
during periods of illness at the home
of a Mrs. Roth, also known as Mrs.
Rafferty, of Chicago. He said that
while he knew Miss Rappe intimately
during the period Mrs. Warren testi
fied slip attenrfpH tho oirl tip npvpr
met or even heard of the nurse.
Mrs. Warren and Mrs. Helen
Madeline Whitehurst, another de
fense witness, are under suhnopna tn
appear before the grand jury tomor
row 10 oe questioned in regard to
their testimony. They were served
with the suhnoenapQ rlnrincr rmirt
session Saturday. Mrs. Whitehurst
repudiated a deposition signed by
her in Chicatrn in whirli ae al
leged that she frequently saw Miss
Rappe ill at the girl's home. She
expressed the belief that the deposi-
iion was cnanged atter she had
signed it. ,
Loren E. Griffith Wins
Suit for Jewel Shop
Loren E. Griffith, jeweler.
won the suit - brought bv Anna
Corter for oossession of the Griffith
Ihe suit involved $40,000 m fix
tures and stock. It was heard by
The suit was the result of Mr.
Griffith carrying on the business in
the name of his wife, "K. D. Griff--ith."
"K. D. Griffith" was killed last
fall by an automobile in South
Omaha. When the will was read it
was found Miss Corter, a daughter
by a former marriage, .had been be
queathed the jewelry business.
200 Attend 23th Wedding
Anniversary of Hoag Couple
Beatrice, Neb., April 9. ("Special.)
ait. ana Mrs. ADranam t.pp, old
residents of the Hoag neighborhood,
rplphmt,! it;.. -K.u , :
..u.abvu falll niUUIMU 111111
vcrsarv at their liomp in Ihp
ence of about 200 guests.
Nebraska: Cloudy and colder
Monday with rain in cast and rain
turning to snow in west portion;
Tuesday fair, warmer in west.
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rinatiriiii Magnate' Attitude
on Clonipniaatioit Proposal
Arc &'orrd hy Amrriran
Condemns Frank Munsey
By ARTHUR SEARS HENNINO.
Omaha Ha I M-rd Wlra.
WfliiiiKtuu, April 9. In a Inter
received by every srtutpr today,
John Thouia Taylor, vice chairman
of the American Legion' IrgMativr
committer, deliver a wiiherin
broadside at Frank A. Munry and
other financial magnate, who are
fighting the pending soldier bonus
Mr, Tavlor cites numerous fnun
cial publication to show that big
business has plenty of money in baud
for stock speculation while it be
grudges adjusted compensation to
the soldiers who made secure the
interests of the financiers.
"The banks of the United States,"
says Mr. Taylor, "earned during the
war period and the prosperity era
immediately following, profits, which
the still retain, of $1 .747,005,000.
This vast sum is three times greater
than the retained profits of a similar
period preceding the war, and is
three times the amount of money
which the Chamber of Commerce of
the United States of America esti
mates that veterans will borrow from
banks within the next three years
upon adjusted service v certificates,
when the senate ratifies the live-fold
adjusted compensation bill in the
form recently passed by the house.
Banks Fight Bonus.
"These enormous profits of near
ly one and three-quarters billions of
dollars, are in addition to the profits
which were not retained, such as
dividends, extra dividends and bonus
payments to their own employes
during the world war period. (V
"A large proportion of these unpre
cented profits were made and re
tained by the New York banks, con
trolled by the great financial inter
ests which are leading the fight
against adjusted compensation for
veterans on "principle." One might
also say "on principal and interest."
"The financial interests are now
preparing to use these great profil;
in a big stock market .cleanup. . if
the Wall street financial magazine
are to be relied upon."
In connection with the virulent
campaign against the bonus being
conducted by Mr. Munsey's New
York Herald, Mr. Taylor quotes the
following from Barron's Financial
Munsey Coming to Fore.
"Frank A. Munsey, magazine and
newspaper publisher, hotel proprie
tor and owner of a grocery chain
store enterprise, as well as the head
of a banking institution, is once
more coming to light as an impor
tant stock market factor.
Mr. Munsey is credited with hav
ing accumulated a line of steel com
mon, and in conjunction with cer
tain stock exchange interests, is
looked up to as the pilot of the is
sue. . -
"Ten or a dozen years ago Mr.
Munsey and some of "his friends, in
cluding the late George W. Perkins,
were very bullish on steel and rode
along with it to the tune of profits
mounting into the millions."
Mr. Taylor quotes another item to
the effect 'that the price of steel is
being boosted by "strong arm tac
tics on the part of the manufactur
ers." . .
"So the cat is actually out of the
bag," Mr. Taylor comments. "The
price .of steel is being put up 'by
strong arm tactics,' and naturally
the prices of steel stocks are to' soar
high. Mr. Munsey, as the 'pilot' of
steel, would naturally be opposed to
any measure tending to divert loans
on steel stocks for 'accumulating a
line of steel common,' means buying
on margin, and borrowing the money
from the banks with which to do it.
Floating Bond Issues.
"Also tremendous stock and bond
issues are being floated by the large
financial groups opposing adjusted
compensation for veterans and the
unprecedented records created dur
ing the wartime prosperity period,
when it was a common saying that
people would buy anything, are be
ing topped each month.
"If the financial interests maintain
the average during the current yea
it will mean that they float and sell
to the public $4,200,000,000 worth of
new securities, in addition to re
funding operations and government
issues. These enormous issues do
not disturb the money market, how
ever." , Raps New York World.
To show they are easily absorbed,
Mr. Taylor quotes from the New
York World, which is fighting the
bonus an article stating that "per
manent easy money" is the vision of
the bank profiteer.
"So the New York World sees
'permanent easy money' ir sight,"
Mr. Taylor continues. "Yes, 'per
manent easy money' tor the investor,
'permanent easy money' for the spec
ulator, and 'permanent easy money'
for Wall street, which is selling its
new securities to the public at tha
rate of $4,200,000,000 annually.
"But 'permanent easy money' for
the veteran who risked his life and.
his job, that this 'permanent easy
money referred to might come to the
big interests? Not on your life. No
permanent easy money for the
soldier. Adjusted compensation, to
help out his $1 a day pay? No,
thumbs down on that, too. It might
disturb the 4 per cent permanent
easy money being used in making
new speculation records and in new
stork and bond issues being sold tha
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