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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (May 21, 1929)
The OREGON STATESSIAK. Salem, Oregon, Tuesday Morning, May 21, 1929 PAGE FOUR -V77f MUMAM M "No Faror Strays No Fear Shall Atee." From First Statesman, March 28, 1851 THE STATESMAN PUBLISHING CO. Chakles A. Sprague, Sheldon F. Sackett, Publisher Chaeles A. SpRAGUB ... Editor-Manager Sheldon F. Sackett - - Managing Editor Member of the Associated Press The Associated Press is exclusively entitled to the use for publication of all news dispatches credited to it or not otherwise credited in this paper. Entered at the Postoffiee at Salem, Oregon, ae Second-CUue Matter. Published every morning except Monday. Bu$ine$ office 215 S. Commercial Street. Pacific Coast Advertising Representatives: Arthur W. Stypes, Inc., Portland, Security Bldg. San Francisco, Sharon Bldg.; Los Angeles, W. Pac Bldg. Eastern Advertising Representatives r Ford-Parsons-Stechcr, Inc., New York; 271 Madison Ave.; ' Chicago, 360 N. Michigan Ave. Picking the Winners JOHN J. RASKOB, who made a brilliant success in the fi nancial world if he did get beyond his depths as groom to Ai Smith, comes out with a new bright idea. He proposes to incorporate an investment organization to operate for the benefit of the general public. The profits from the invest ment are to be the protection against the necessities of old age. It is planned apparently as a philanthropic scheme on business principles. . His proposal would cornbirp savings by installment. That of course has long been the program of savings and loan organizations and thrift campaigns of banks: syste matic, weekly or monthly savings. The difference would come in this that the investments would give returns not at a fixed rate, but the investor would "share in the profits" of all the investments. This of course sounds very good; but really there is nothing novel about it. Numerous other individuals have launched somewhat similar enterprises. The plain lesson of history is that the handling of savings of humble folk should be on the basis primarily of safety. Savings banks and building and loan associations have had remarkable suc cess because they have invested safely and wisely. Mr. Ras kob proposes investments in common stocks. There is at present a wide demand for common stocks, but safe finan ciers shake their heads when they are suggested as the ma jor reservoir of what are virtually trust funds. Suppose some such plan had been in vogue a quarter century ago. The stocks would surely have included such issues as Chicago and Alton, long a prosperous road, the New Haven, the Milwaukee, all of which met with subsequent disasters. Industrial stocks might have included American sugar, American Woolen preferred, long given an "A" rat-J ing, which have suffered severely in late years; or in utili ties Interborough Rapid Transit which long paid handsome dividends, but now sells at around thirty cents on the dollar. It is easy to pick the winners like General Motors and United States Steel, after they have breasted the tape. It is extremely difficult now to pick common stocks giving prom ise both of constant dividends at rates equal to current in terest and of future accretion in value. Another element of danger in the Raskob plan is that of management. That creeps into all investment trust ideas. While the founders may be sagacious, their successors may be less foresighted. "Safety first" remains the best slogan for the investing program of the man of limited means who is. trying to build up enough of an estate to shield him from want when he passes the age of labor. - f "Ned" McLean Figures in Suit , IF the libel suit of the Washington Post against the Phila delphia Record goes to trial and the issues are really threshed out the American public may be in for a revealing picture of social life in the national capital. The Post is the newspaper of Edward B. McLean, "Ned" McLean, long one of the leaders of Washington society, confrere of presidents and members of the cabinet, of senators and diplomats. It was "Ned" McLean who was on intimate terms with the late President Harding, and who lied famously about a "loan" of $100,000 to Secretary Fall. It was the same "Ned" who shocked Washington society this spring by making his East er breakfast "dry". The dry breakfasts have continued, by the way, which . is probably more surprising. The attendance is reported to be diminishing however, falling from 160 on Easter to about 90 on a recent Sunday. That was the "low-water" mark. But the breakfasts still attracted many notables, two justices of the supreme court, Speaker Longworth, a senator or two, Bascom Slemp and Joe Tumulty. Trial of this libel suit for a million dollars will be inter esting indeed. The Record published a story that the reason the' Post assailed Prince Albert de Ligne so vigorously that Secretary Stimson had to come to his rescue publicly, was because McLean had "dined too well" at the Belgian ambas sador's dinner. The Post in its complaint asserts that Mc Lean wasn't at the dinner, didn't dine too well and wasn't invited to depart. If the libel suit would lift the lid on Wash ington "society" the whole country would be set a-gossiping. Noses for scandal might pick up some sharp scents, but more important would be the indication of the sway of the social lobby on public affairs. This was pointedly referred to in an editorial in the New York World, written by Walter Lippman, in discussing the independence of newspaper men, which applies just as well to political leaders. Mr. Lippman wrote, in brief, as follows: "Bribery is easy enough to resist; threats it is a pleas ure to defy, but the influence of friendships, of social con nectvons with officials, of party associations, remains a daily problem for the newspaper man. Inevitably he comes into intimate personal contact with political leaders and men of affairs, and relationships of confidence and sympathy grow up which it is difficult and often extremely embarrassing to disregard. It may be easier to defy i corporation than a golfing partner at a country club." The tiny engraved invitation weilds as much influence in law-making, we might say, as a mighty editorial. This much is true, what with a congress settling down for a long grind on highly controversial subjects, the Gann-Roosevelt battle still waging, and now Ned McLean's libel suit on to j keep tongues wagging, Washington looks forward to a sum ! uner with above-normal temperatures. Fess Cracks the Whip PRESIDENT HOOVER is at least wise enough not to try to crack the party whip. Senator Fess broke out against "pseudo-republicans", but the president merely invited Fess and Borah to the White House for breakfast. He realizes that it will do no good to call names, and surely not for him to call names since his activity as a party regular has never been pronounced. We oppose the debenture plan as a rank subsidy. But a lot of those who oppose it find no compunction in voting for a shipping subsidy. The farmer can't be blamed in rais ing the old sauce for goose, sauce for gander query. Presi dent Hoover is entitled to loyal support by virtue of his own merit, his office as national executive, and the great weight of public favor which so far attaches to him and his poli cies. But this does -not justify readine out of the those Who mav not urr with -ici.f "legislation. 7?ii&'rjl--fZ -. . . .. him nr. onrrpfp mn I " vi - I CM 3VSSf OUJV. HVfc f HOW CAN ANNOUB EESPKXlrV LMJS WSM TVY PLiWCTlOM As THV do7, rrs aw tusou TO HOWAVi !. Kim Fclurci Sycte, he, Gwt Britah BITS for BREAKFAST By R. J. HENDRICKS. How would you like this To stand in the boots of Willis Hawley or Charley. McNary o r j Herbert Hoover? They are being worn to a fraz zle by the greatest economical and political battle that is now being staged In the entire world, in which they are the outstanding and upstanding figures. V The hard job our Congressman Hawley is handling as chairman of the ways and means committee In charge of the new tariff bill is in dicated by proceedings in the low er house on Monday, May 13. The house on motion of Mr. Haw ley, was in committee of the whole, considering the tariff bill. mm S Congressman Donald F. Snow, a new member from Maine, arose in his seat and asked for time to present the matter of the potato tariff. He complained that no raise had been granted in the tar iff charge on potatoes, which is now 50 cents a hundred pounds, though an increase had been ask ed for. He said the potato situa tion In Maine is distressing and acute, and he proceeded to read a few telegrams out of the reams of them with which he was being deluged, demanding his efforts for the relief of the Maine growers of spuds. The president of the Maine potato growers' and shippers' as sociations said in a dispatch that the potato growers of this coun try lost 1200,000,000 the past sea son, on account of foreign compe tition, especially from Canada, and numbers of the telegrams said that crop was the largest of the agricultural products of Maine, and the farmers of that state are being driven from their land by Canadian competition. Congressman Snow told his fellow members of the house that he was being "swamped" (he might have said Snowed under) by wired ap peals from his people. He said they were literally up In arms; that be comes from the "largest agricultural district in the New England states," and that Aroos took county alone, which he rep resents, produces nearly one-tenth of the potatoes grown in the Unit ed States." In fact, he all but wept tater tears as large as cull spuds in his urgent appeal for help out of his dilemma, for it was plain that his constituents were expecting him to get relief; and be showed that they are near ly all republicans and think they are entitled to have their share of the much touted farm relief. He is surely in a tight box. To make the matter worse. Con gressman Garner of Texas taunted him with the statement that he shodld have secured a different line up in the agricultural sub committee of the ways and means committee, for the potato starch people had been granted a thirty three and a third per cent raise In the rate protecting them. "When the manufacturer Is interested, they always give him an increase," jeered Garner. S Now step over into the - senate, the same day. There you find the whole remaining membership of that august body picking on our Senator Chas. L. McNary, who is in charge of the farm relief meas ure in that branch. Our Salem boy stands there with his back to' the wall, smilingly welcoming all comers in the forensic battle that rages around him answering their questions, meeting their argu ments, explaining his understand ing of what is meant by different clauses of the bill; welcoming helpful suggestions and parrying the strokes of cynical opponents. s X 11 .,s Px rignt .? " oUlR 1 It Is a great fight that is going on. Ana in the very thick or lare three gaJLem boys Hawley McNary A Star Spangled Citizen TVW iM I and Hoover. SmaU potatoes is the issue from Maine, or rather it rep resents a small item in the great mass of issues coming from every section, in which a total of 110, 000,000 or more Americans are Interested, to say nothing of the rest of the populated globe. s s s When it is all over, and "the captains and the kings depart," and the dust of the conflict is cleared away, the three whilom Salem youngsters will need a rest. In faith, they will have earned it. m U In the Issue of the Congres sional record of the7 next day, the 14th, Senator Robinson of Arkan sas asked to have printed a long newspaper article by Mark Sulli van, intended to prove or show that both the tariff and farm re lief fights are aimed to bring in a policy under which "the Ameri can farmer shall not try to be an exporter to the rest of the world." Whether Mark hits the mark or not, that is what will happen, in 10, 15 or more years, for before long ours will be an importing na tion in major food stuffs. Increase of population and the trend to manufacturing, and residence in the towns and cities, will turn that trick. So future Salem boys in high of fice at Washington will stand a chance of having a less hectic and wearing time. E AT NORTH HAVEN NORTH HA'v'EN, Maine. May 20. (AP) Colonel Charles A. Lindbergh, bis fiancee, Miss Anne Morrow, and other members of her family rested in seclusion to night at the Morrow estate on this little island, 12 miles oft the coast of Maine. The colonel, Miss Morrow, her two sisters, Constance and Eliza beth and Mrs. Morrow landed about midafternoon in a little cove in Penobscot bay before the home. They were accompanied by Jose phine Graeme, Mrs. Morrow's sec retary. The flight was made from New York in an amphibian cabin plane after a short stop at Port land airport for refueling. Soon after the dinner hour the entire group bundled themselves into a beach car and drove away, presumably on a trip about the roads on the western end of the island. Anne Morrow was driving. Lindbergh was seated beside her, with aliother of the sisters on the other side. Before leaving for the pleasure jaunt, the colonel taxied the plane up the beach and "park ed" it on the Morrow lawn, close to a large evergreen tree. Read the Classif ied Ads. . Tk nmsr- - Ss"X - II 1 lift Th Mill See The Refrigerator Display In Our SS!r HALL Old Oregon's Yesterdays Town Talks from The States man Our Fathers Read May 21, 1004 A rally for the field meet this afternoon was held immediately after the chapel at Willamette university. Speeches were given by Professor Hawley, Captain Miller and Earl S. Rlddell. A defective flue in the Patton home at 97 Chemeketa street caused a little flurry, however the fire department arrived quickly enough to prevent any damage. Ben Taylor, C. M. Lockwood, John Maurer and Louis McCIane are on a fishing trip to the Grand Rone Indian reservation in Polk county. The city council and park board held a meeting last night to con sider matters of improvement for the public parks. Bf PROHI RAIDERS OAKLAND, Cal., May 20 (AP) Seventy-five prohibition raiders swept through 50 suspect ed establishments this afternoon and arrested 35 persons. The raids were said to be the most comprehensive ever carried out In this county. Directing the raids were Unit, ed States Attorney George Hat field, Harry B. Smith, head of the intelligence unit of the treasury department, and four police chiefs. Six federal dry agents from Los Angeles were in the raiding squads with police depu ty sheriffs and others. Among those arrested were two policemen, a ball bond broker and a woman. The raiders also made a number of arrests of cigar deal ers on charges of operating lotter ies and punch boards. Evidence valued at thousands of dollars was confiscated. The details struck simultane ously in Oakland, Berkeley, Ala meda and piedmont. Arresting officers said evidence had been ac cumulated through the last month by dictaphones, tapped telephone wires and undercover men.- Special stages were hired to take the prisoners to Jail. They will be arraigned Monday. NEW MARKET SOUGHT SPOKANE, Wash., May 20 (AP) Miss Edith Foltx, Port land. Ore., aviatrix., will try to break the woman's endurance flight record at Felts field here next Saturday and Sunday, it was made known today. " NEW VOTE LOOMS WASHINGTON, May B0 (AP) Another roll call in the senate over tha export debenture provi sion appeared tonight to be in evitable. Window n SWEPT Editors Say: NIXElt-SEVEX PERCENT SAFE Judge- Richards told the Grot to the other day that the police men of this country should take lessons from the- London bobbies who never carry guns and rarely use their batons, maintaining law and order by the mighty in fluence of their position, not through physical fear. Evidently PoUce Commissioner Whalen of New York heard what the judge said for the next day he came out with an order telling the officers to put up their night sticks as use less. He has called to his assis tance a committee of bankers, lawyers. philanthropists and preachers in an effort to solve the mystery of crime. In the meantime Jack Black, former burglar, now author and playwright, tells how to stop the crime wave. "It is not the sever ity of the sentence but the cer tainty of it which will lessen crime." New York last year had 300 murders and seven convic tions, leaving the batting average 97.7 per cent safe for the killers. That's what Jack Black means when he speaks of bringing about the certainty of punishment; if every criminal were punisnea just a little for every crime they would soon quit. As he says, no man wants to do life, even on the installment plan. It is the long chance that they won't get caught that makes them try again. Eng land has us beaten in that parti cular; when a man kills another over there be knows the chances are greatly in favor of his being hung and that right quickly. That makes an unpleasant situation which the would-be killers try to avoid by doing their killing in this country where their chances are much better. Yakima Republic. TOO MANY REFEREXDUMS More and more referendums. now the sponsors of one referen dum threatens to start mure, un less opposition to tbelr project is dropped. Instead of a means by which the people of the state can exercise a control over legislation in, cases of unusual importance, the referendum and initiative are being made weapons of disgruntl ed individuals and minorities who happen to have the money to pay the professional petition pushers, to put their measures on the bal lot. A little more abuse of this law, with more useless measures referred or Initiated to be voted on at special elections at a cost of $100,000 each to the people of the state, and the only courses left open will be to repeal the law itself, or else abolish the legisla ture. If the process continues, aside from resolutions and mem orials, the so-called law-makers will be able to do little but set up a few suggestions for the referen dum crowd to throw petitions at. Morning Astorian. OBJECT TO BEIXG RELIEVED The apple and pear industry of tne entire country has united al most unanimously to oppose the foreign surplus marketing plan in cluded In the farm relief bill now before congress. Despite the in dustry's protest the senate refused to exclude apples and pears from the scope of the bill. This is one example of an in dustry objecting to being relieved in a manner that threatens more damage than benefit. The plan of dumping a surnlua on tha for. eign market is not relished by mose wno nave spent a quarter of a century of time, effort and ex pense in building up foreign trade in fruit. About one-fourth of the apples grown in this country are exported, and to demoralize this market would be fatal to the en tire market, It is declared by those in a position to know. Senator Jones Introduced an amendment excepting apples and pears from the Operation of the bill, and though this was defeated, another similar amendment has been introduced by Senator Mc Nary. Wenatchee World. State Vouchers Are Examined In Olympia Scandal OLYMPIA, Wash., May 20 (AP) Attorney General John Dunbar today sent to Prosecutor W. J. Mllroy of Thursday county all the evidence in his possession concerning vouchers for $4,449.. 29 for office supplies alleged nev. er to have been delivered to the state. OST people depend on Bayer A Aspirin to make short work of headaches, but did you know it's just as effective in the worse pains from neuralgia or neuritis? Rheu matic pains, too. Don't suffer when Bayer Aspirin can bring- complete comfort without delay, and without harm; it does not affect the heart In every package of genuine Bayer Aspirin are proven directions with whicfe everyone should be familiar, for they can spare much needless suffering. SPIRIN cm Here and There: THE agricultural bill o( tne senate and its mate from the house are snug for the time being within the confines of the conference committee where tbe much-debated debenture will be subject to violent examination. If the house doctors have their way the hateful excresence will be sub jected to an operation which will leave the patient bill in much his present condition, sans deben ture. The close margin by which the debenture won in the senate. 47 to 44, sugegsts that if the house makes sufficient protest, the con ference bill will come in without a debenture and can be passed if the senate' feers sure the house is adamant. "Psdeuo Republicans" had best give the nation an argi cultural bill even if the debenture be eliminated. Borah and Brook hart are trying to win their point but when they see too much oppo sition we forecast reconciliation on a "non-debentured bill." WITH all our education, great masses e-f people are much like wild animals. A crowd of 6000 New Yorkers seeing Babe Ruth play Sunday, went into & panic when a little rain splattered down on them. Rushing for cover, they trampled under foot many of their number. Two are dead, sev eral injured, because of the mob psychology. Only thosewho have witnessed an exit rush from a big league game or seen the crowds at a 42nd street subway station can appreciate what a New York crowd can do. It is more danger ous than a flock of Chicago ban dits, if it once gets panicky. THE week-end brfogs its quota of airplane accidents. Perusal of the reports brings out that oft-mentioned point; tire majority of the accidents are caused by the carelessness of the pilots or the use of old, antiquated planes. Auto accidents and airplane acci dents are much alike in one re gard; most of them could have been prevented. This is the season of com mencement! Blithe seniors whether from junior or sen ion high or from college face the world with the calm assurance that the cracking of the problems of the day is a task quite soon to be accomplished. How soon the illusion fades! College students probably pass their most unhappy years the first two "enjoyed" af ter the sheepskin is given. Then the romance of the classroom is a YOU may have the ser vice of this strong fi nancial institution as your executor and trustee for the same fee allowed by; law to individual execut ors. An individual executor may fail to survive the set tlement of your estate, may become incapacitated by illness, may travel, for get, be too busy, embar rassed financially, or be in experienced, so that your estate may suffer loss and additional expense- Which executor do you prefer? Consult our trust offic er about the settlement of your estate. Ladd & Bush Trust Co. We have moved our of rice from its down town location at 143 S. Liberty street to 009 N. Liberty St. Our office and warehouse are now in the Same Building We have the same phorjie numbers or Residence at night 1898 ILoi?iisaei? E&amGUQ& NoJob Too Big or Smafl for Ua to Handle Local and Long Distance Hauling, Storage Wood, Coal, Fuel Oil Terse comments on Events, Local and Abroad, of the Past Week. pricked bubble and the reality of the struggle for existence gets a full view. Twas ever thus. After the period of readjustment u over, some newer values for col lege are formed. Friendships r. -main, the glamour of four yea; of a glorious good time is still in consciousness and tends to dispel the gloom of the workaday world. Year by year the college graduate realizes that after all, the real ac tual Job of life Is more thrilling and more compelling than the task of the classroom and there c6mes a deeper satisfaction than eyer was afforded by Latin, alge bra, home economics or sociology. Tl DALLAS, Tex., May 20 (AP) Torrential and widespread rain fall today marked the passage of another series of Texas storniss which killed one man, Injured 11 persons and did thousands of dol lars damage. Frank Trentacosta, storekeeper at Bryan, was killed by lightning In the door of his store. The most severely struck area was near "Wichita Falls, where at least eight communities felt the force of winds and heavy rain. Neat; Vernon, Mr. and Mrs. Merrell Wilkerson. who were cele brating their honeymoon, were in jured when a twister ripped their house from the ground and car ried them about 300 feet. In far south Texas, Westfiekl, li miles from Houston, also suf fered from the wind, a twister swept a path about a quarter of a mile long and 50 feet wide. Four persons, Mr. and Mrs. W. A. Far row and a Mrs. Benedict and her daughter, were injured. Tht Far row home was flattened. . Near Wichita Falls, at Dundee, William Ganders was injured when a store building collapsed; Mrs. C. H. McDanlel was hurt when the porch of her home fell in; a fly ing timber struck William Miller. Eight stores and 12 homes were damaged. FROSH WIN ANOTHER EUGENE, Ore., May 20 (AP) The University of Oregon freshman baseball team defeated the Oregon State rooks for the second time in two days 7 to 6 Saturday. SWEEP OVER TEXAS n 1 I