Newspapers / The Daily Advance (Elizabeth … / June 24, 1926, edition 1 / Page 1
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'PEAK OF SEASON I OF EARLY SPUDS REACHED HERE Grower* Digging on I .urge Scale in Hope of Market-' ing Crop While Price* are | at High Levels BRINGING $5.50 TODAY Appre ?eheimion Still Felt,! ? - However. Over Po??il>!e : Disastrous Effect of East burrn Shore KuhIi |^^WIth digging at its peak in Pas quotank County today, growers of asrly Irish potatoes were deriving | much encouragement from news 1 that the Northern markets were* | strong? this applying particularly! to New York ? and that pronpects I Were good. Potatoes w?th selling I la New York rrom $?', to |7.50 to- J j day, with good stock readily ! bringing |7 to $7.50, and only rel atively small lots of inferior Krade j j selling lower. Receipts of only 36 | carloads were reported III New, York today. I After having weakened slightly j | yesterday afternoon, sales at the [fading points here today were j steady at $5.50 per barrel for 1J. > 8. No. l's, the top grade, and the; demand wan brisk. DigKlng was | j continuing on a large scale, de- / , aplte a heavy rainfall yesterday.) the growers apparently being de termined to put their potatoes on ; the market while prices were high. It la forecast ou every hand that the peak of the m ason's shipment* from here will be preached this1 week. Potato shipments from Eliza- 1 f both City this season up to la.st night totalled approximately 725 , cars, according to W. O. I>ensen, ; Federal market news representa | tive now stationed here, as com- } ' pared with 833 cars on the same1 date last year, and a total or 91.1: cars for the entire season of 1925. It Is anticipated that this year's Shipment* will exceed that total. [ since the crop is somewhat later. Tlie yield was short both years, due to unfavorable growing wea ? h#V ifjfSomw concern in Htlll felt hen By the prospect of early heavy PwTffring.s on the Eastern Shore. ! HElpments from tliat section this 1 WMk already have excelled ex- ' pectatlons baaod on a survey of i condition** there, and it is feared that In the next few dayg they may | reach such proportions an to glut | the market*. Much of tho usual market con-' gent ion has been eliminated this year through widespread use of i the daily market reports Issued from here by the Federal report ing service. These reports give | receipts and Hales in the various large distributing centers, and by . Studying them, local . grower al most without exception have been 1 enabled to place their shipments to best advantage, and avoid pil ing them up on any particular Market. EUCHARISTIC MEET COMES TO CLIMAX Mundeleln, III., June 24. In Nature's great sanctuary flooded j by a brilliant sun and fringed with j Verdant trees and^hruhs the Inst 1 rites of the twe^A-elghth Inter national Kuchanstlc Congress 1 were celebrated today before ! throngs numbering In hundreds of | thousands Before the huge altar canopied in silk and velvet overlooking , from the top of the grass carpeted I hill the two-mile sweep of Saint Mary's I?ake, Cardinal Honxano, I [legate of Pope Plus XI. celebrated j t solemn pontifical mass under i fairest skies of the congress j Ion. After the benediction eucharistlc procession, more [ three miles long. flled ?ugh the parted sea of human- | Ity In a climatic pageantry 0f the five-day religious festival. Another Conference With Wayne Wheeler Washington. June 24. ? Before resuming itn public hearing the Senate campaign committee today > had another private conference with Wayne II. Wheeler, general counsel of the Anti-Saloon League, regarding Wheel* i m charge of ex penditures by liquor interests In the Pennsylvania primary. The concultation was held nt . Wheeler's request and apparently I wae for discussion of the list of 1 witnesses who might be celled In Connection with the liquor slush fund chsrge. When the commit tee emerged Chairman Keed an- ' nouncsd thst the subject under tfleeusslon would he disclosed lat- j er. He added that the conferences ; held with Wheeler today and yes terday "have nothing to do with Mr. Wheeler's testimony." I>?. FOtJST SPEAKS Winston Ha lem, June 24 Th? ?ftotds Conference entered upon Rnsl dsy of dellberstlon this King Among the speskeri Or. J. E. Roust, president of Worth Carolina College for Wo ?en, who talked on yObjectlve* Md^rpgrams for Tax Supported Diving for the S-51 Divers making lu?rolc attempt a near New London, Connecticut, to raise tin* U. S. Navy submarine S-fil which sank in a collision last fall, only three of the crew cKCapin^. Photo shows Diving Su pervisor C. L. Tibdalx. left, and William l<oughiiian, right. Inspect ing tin* suit of Diver McNeil ju.st before lie descends. Merchants Still Agitate Matter of Half Holidays Fetr A pparently Salis/ied With Friday As Closing Day During Midsummer Months; Some Prefer 11 eilnnsdny, and Others t'aror Thursday Dissatisfaction on I ho pari of I many local merchants wlih the Friday closing plan adopted at a; recent meeting ai the Chamber of J Commerce In expected to result In 1 the calling of a .second (tension for reconsideration of the matter in i the next few day*. Although by custom Friday ha* become strong-; ly entrenched here as the appro priate week-day for half holidays during July and August, those ? who regurd it with disfavor, de clare there is not another tenable \ argument for It. The dissatisfied ones are dlvld-, cd as to whether Wednesday or| Thursday Is the better day for the; midsummer closing. Those favor- 1 ing Wednesday point out that It ' falls in mid-week, when perhaps merchants and employes alike are'; most In need of a half holiday. On t lie other hand, many merchant* feel that Wednesday is too good a; business day here fnr half of It to I be sacrificed, holding that thatl would work a hardship upon iner-j chants and patrous alike. The Thursday advocates have a* their main argument the fact that Thursday afternoon is the time honored "afternoon off" given al-l most universally to the cooks of the city. With Thursday half hol idays. they poiut out. they would have no qualms in remaining until the last inning of the baseball, game. regardlesN of the hour, since j they would bo certain of a coldj supper anyway. As partially offsetting the feasi bility of Thursday closing, the re- ( tail grocers of the city are largely pledged to Wednesday afternoon j holidays for themselves and their employes. Hence, with Thursday aH the day off for the other busl- 1 ness folk, a partial suspension In business two days a week would result. Those favoring Thurday, ; however, express the hope that the grocers would change their closing day accordingly in the event th?| latter day wus adopted. The salesfolk Kenerally arc said to prefer Weduesday afternoons, off. though as a matter of fact. It* is probable that most any after-' noon would be highly acceptable to the majority of them, and that they will offer no complaint, what ever day Is decided upon finally. Opponents of the Friday after noon closing base their objections' on two factors. The first Is that I many rural merchants do their j purchanlng for the Haturday trade on Fridays, and to close that af- ! ternoon works at a disadvantage for them. The second factoi; I* that a half holiday has more or less of a tendency to unfit the ; salesfolk for arduons work next day. and when that day happen* - to be Haturday. the busiest of the' week, this becomes a serious con I slderat Ion. They argue also that | Friday and Sunday are too close i together for holidays on both days. 1 anyway. 4XJTTOW MAItKKT ' New York. June 24. ? - Cotton futures opened today at the fol lowing levels- July 17 80. Oct If. 4* Pec. 18.42, Jan. 18 15. Mar If. 17. New York, June 24.- Hpot cot ton closed steady, middling 18.68 1 an advance of 20 points Futures, closing bid: July 18. 07, October 18.71, Deember 18.88. January, 18.88. March 18 88. May 18.78. I Catholic Church Is \gainst The League iCo?r*M IN* M? TM Alnml Chicago, June 24. ? Although it represents in Itself one; of the greatest international movement* ever known to mankind, the Cath olir church appears to have taken a very definite Miami against the League of Nutions. l'erhaps that in why the Euchar ist ic Congress came here to Chi cago. a seal of anti-league feel ing; here to Illinois, where the world court recrtitly met an over whelming defeat in a Senatorial primary contest. The church has made no formal pronouncement on the subject dur ing this Congress, but there has been a concerted appeal all along the line for the ptoplM of the world to turn to Cod for a solution of their problems nnd their Ills. And Cardinals Muudeleiu. Arch bishop of Chicago, wIiohc personal plea to the Pope gave Kucharist k?* Congress this year to this city ha* stated the position rather sharply. "Man-made laws and leagues," he said, "have not brought about betterment of relations between In dividuals or nations. The govern ments of the world seem to he Just blundering along, turning every where but In the right direction for leadership and guidance." Woman Identified A s Evangelist DouKla*. Arl*., June 24. ? Iden tification of the woman brought to the hospital here yesterday from Agiift I'rleta across the line in Mexico as Aimce Hetnple Mc pherson, I x?s Angeles evangelist, missing wince May 1H. was made this morning by Mrs. Minnie Ken nedy, her mother. Mrs. Kennedy arrived from l.os Angeles and went immediately to the hospital where she greeted her daughter. POOIt I)Af>! ?VACATION ' VUVT Tires an' Plat pocHeYbooksI When he itofn on bin vacation *e* that he get* the I ?a? 1 1 v Art raace atrarjr day, ao that he doe*n t ulaa "Mom n' Po?." Ha ll forget I about bla bank book thai* INLAND ROUTE PROSPECTS GOOD THINKS McIIAJj Governor Speak* Highl I ul \\ <?rk lldiu- :il Nutioni (iu|>it?l l>y Senator Sim mun> I' or Tlii? Mciuurr IIKl.l'S I I IK KAST Stiilr !\lu*l I'rovitle Wa> for llu- l.liunilel Hill j Lrau I liinks I'lirri- W ill Be l.illli- Difficulty Sir Waller llotel, Kaleltfh, June ; 24. ? Prwi|Nti'U for the l uf the Inland Waterway measure as incorporated m the itlver* and i Harbor* bill arts moat bright lu the 'opinion of t.overuor A. W. Mi j Lean. who Kpoke iiUMt Illicitly o( 'the work (lone by Senator* K. M. i Simmon* in getting the uiiuiiure Incorporated as a part o( tin ltiv ers and llarborx bill aud alao In KRttitiK the spec 1 1 lea t Ioum for the '.depth of the channel changed from i eight to 12 feel. "1 am greatly r. rat If led at the efforts of Senator Simmons in get ling thin Inland waterway ineaMure ax far along toward enactment a* It 4a" xald Coventor Mcl?ean. "For yearn 1 have favored the comple tion of ill 1m waterway and have ' continuously maintained that such, a waterway wax exxestial to the upbuilding of the country lying j back of Wilmington mid Houthport and to the country lying between Heuufort aud Wilmington. ?| "With such a waterway, the i long trip up the river from the At- f lain ic to Wilmington and tbeii out ! to Hca again would be eliminated | and uincii time would be aavrd the i icoaxiwixe shipping ve?e|n. W<n i la depth of 12 feel .11 the channel, u great many of the vessels (hat iugw ate couip-lltd to make the j ! outside pauiii'ii o? i)i? capes i.oii'd , proceed down the inland water ' route to Wilmington nnJ thus ph ?capo the danger* of the xtorms off the PapfH. Tiny would uIho b%j ; saved this long trip up the Cup.?; 'Fear liver to Wtlmlnglon. wli'rh uow ouuHlltut?* oue of the mam j drawback* In geting ahlp* to make | Wilmlngtona port of call." 1 Coventor McLean railed ' to mind thai In a recent addr-s* at j W ilmington he had promise.! tne 1 1 ople there to ?!o all (hut he couid now in ablating In getting the the right of way for the channel, a a the State must provide that. Whether legislative action would ho necessary wan not certain, but If. It would not he difficult to oh I lain, the Covernor believed. Much of the lan.l' through which the 1 right of way would pim K al ready owned by the State, he Mid. FAMILY IS TOO LARGE TO BK ENTERTAINED IturuHvllle, Juno 24. ? Marvel Silvers, living at Higglns. near here, cannot entortuln all hi* fam ily at one time. It Ih not that hi* home In unusually small rather that his family 1m unusually large Tktra are ii living ehMNB. s grandchildren, Kmi great -grand children, a respectable array of great -great -grandchildren and a lew great -great -greats. Mr. Silver** himself |* upwards of I OK year* old. He may be old er. for the family record* have lieen lost. It is Raid that he offera no the ories to account for hla unuRiial longevity, lie even clalma that lie Ix older than 108, but there are a few hundred of his 4ecandant-t who say that It Is a natural ?go ti*m on hi* part to want to appear ! old. Living at the foot of the moun tain on which he ha* lived all hi* life. Mr. Silvers, indicates that the freah air thereabout* may lie part ly fMpoaitbto for hi* continued health. Ilia farm Ir located ao a* | to be almoHt perpendicular and a mere walk from the ho Me to thr> barn. Mr. Sllvera haa aald. la more exerclae than the average golfer -would like for one day. The old man looks upon the present world with a phlloaophic calm. Thing* are neither better , nor worse than they u*e4 to be. he llhlnka. I "In some place* there's lot* of good people and In other places lots of bad ones. The Lord evi dently wautR them all to be good but I don't RUppoRe they ever will be." Ho RumR It up In llila Manner He admit* that he haa lot* of de cendantR and Rpeaklng of them he *aya: "I'd like to *ee?i tkem all. but I hope that never all decide to come at the same time. WOOL WORTH 'H MTORP. TO MAVM IM'KMNd KfXII'TluN Woolworth'R Five and Ten Cent Store I* celebrating lie attractive new Improvementa with a recep tion tomorrow from 3 to h In Hie afternoon and from 7 to ft In the j evening. Thla la a rea? reception with no goods sold. The public Is Invited to liiRpect the new Rtore In every detail. MurIc by an orchestra and other Interesting feature* are : a part of the program. On Saturday moraine el t|e us- | ?al hour ihe atore will be opto for kiilim. AS CLOUDBURST HIT ILLINOIS CITY Iltockford. Illinois. looked Ilk ?? Wnlce after tin* c!uud burnt hit It. threat projwrty d.iiuau.- w.im mi si 'i I and liusini'Ks wuh suspend* d until tin* waters mih.sldeil. \lmve is hIiowii purl ? I the V-:- i .1 ?? m l.il lulrirt. wltli tin' water nearly v?*l with the Hist ll>nirx or tin- Iioumm, llrlow is t.huwii a down iuwn str -i t. Arrow points to tin* top of a mil# untied anti ni ?bile, ahoiidoiied when tile cloiiilbiioit aim*. hey Find Antidote For White Collar Complex BY OWKN l?. M'OTT liilli. ki Thr | Chicago, June 24. An antidote ; 'for t lt?* while collar complex of mndern youth In believed i?y Chi |eago electrical workers lo have Usi-u hit upon hy their ??i"? mm . The lure of while collar Jobs has been cutting down (he appren tice supply in ihi' nk tl 1.1 trade*1 bo materially that contractor* of late have been greatly concerned over the outlook. It Ih for thai rea son that the Chicago local of I lie International Brotherhood of Kiec trlcal Workers. Is particularly pleased with Its experiment .11 at tract Iuk future members. This union appear* to have sol veil Its appentice problem hy es t abl ImIi Iiik a technical school for t ruining enterprising youths Pros l?ecl ive eh-ctrlcal worker^ in turn have heeu drawn from among ihe young men of ihe city hy the op portunity for Rcfioullng in skilled nude wmle Bblfllii cnHtlnui work. Six hundred apprentices iu the electrical irade now are attending? the Union school. They have a four' year course mapped out for them with one full day's attendence at school required each two weeks. Kmployers are called upon to pay I at least two dollars for Ihe day the young workers are attending classes. Ho readily have the con tractors recognized Ihe value of the school that they almost all give a full day's pay to the appren tices. Kd ward J. Kvaiia, vice president of the International Brotherhood of electrical workers and father of the Union school explains thai other unions are going to he railed upon to establish vocational schools. "Unless they do will fall behind the procession." he says. "An evo lutlon is going on in the Inhor movement calling for better trained men and It was early re cognised by the electrical workers that unless they prepared their well trained and qualified to hold . technical jobs they would be Ion- | Ing out." ? The Union school is run hy com petent Instructors and the train ing Is thorough. Shop and labor atory work Is combined with theory of electricity, mathematics and drawing.. Before the appren-i tlce Is graduated and eligible for examinations and union curd he j must be competent to lay out slx-| teen or more electrical installa tions. Home states have undertaken vocational training on a large scale. JtVtvere the state or cMy government tackles the problem of training skilled workers that I relieves the union, but where It 1 has not entered ihe field then In the opinion of the electrical workers, It is necessary for .organ-! l/.ed labor to buckle down to the business of training future members. The Chicago Electrical Workers have met their problem mr?st ' i:uccessfull> . Ambassador Jay Now Seriously III Buenos Aires, Jim-- 24 Peter, Augustus Jay, United Htates sin bassador. is acilously III with bronchial pneumonia. Three phy-i slelaoi ara In attendance on him. I I.OOItU I \ ELECTED III: lit in IHIIUHM; i.m> lo in i t: a. i e ('oncord. tin no 24. ? \V. lU-n (*?NMl%vha of < li? wiin tinlay iiniiiiiiiMMiNl) cirruii blent of flu' North i 'ctrolliui Itiiililiiiu and l>(tt?ii mihI also delcuntf to (ti?> Natloiuil ItujlilliiK nnd I xii 1 1 I i4 Vlllhll IIIIM'I.S ill MilllM'ap.lIK IIC\| IIIOIllll. Negroes CuTmitfer More Emancipation ll> OWK\ I,. HCOTT (Unrtur. im. ?, th? a^kui Chicago. June 21. Delegate* ri-pr. M^iiiiiiR oirc-tontU nf Dm en tire populai ion uf the In I led States Kaili'-r.il here today in consider means for bringing furl ti er eniuticiuallftn for their race. Tin' Nal ioiiHl Association for the Advancement of Colored people speaking for the llJ.f.oo.lHiu n,.. groes of i ill;* (una I ry. reports in Hh. scvent In-ill h an it nil | convent ion thai whlh- i lio negro rare is mak ing I.real progress economically there ^l ill remain Merlons aoeial harriers to overcome. Lynching, happily, jH proving a less urgent subject since that prac tice has nieadlly fallen off in the hint five yearn hill I lie delegates* are mllltantly behind Itcprosoiitu live L. ('. Dyer of Missouri, who proposed n Federal mill lynching law. Iti'preHontal ive Oyer's pro posal has made bui Hi 1 1?* program In Congress but the possibility of lis enactment Is believed by the negro delegates lo have had a tempering effect oh mob art ion. More urgently preying upon I he negro delegates I* the problem of race segregation which they op pose. Though they have losl a battle in the United Stolen Su preme court lo prevent while prop erly owner* from enforcing negro- 1 gallon agreements through court action, the negro rcprcNciitutiven have not given up hope. They will seek other ways of obtaining equality with while people In (hooding I he pluce of their resi dent. 'Mini i mi n , im |tl %MNf| jkt VACATION lllltl h H< lit H Hi The enrollment In the Dally Va cation lllble Hrhool has Increased; lo 1517, and 176 pupils were pres out on Wednesday. Of this num ber 3 f? wi re in (lie Beginners' De partment. ?4 m the Primary, nnd 73 In (lie Junior. l>r. J. H. Thayer. pa*tor of Black well Memorial Church. Is en thuHlasiie over the excellent begin ning the school has tnado thin week. Not only do the number en rolled and attendance indicate tho interest shown in the movement, but (he high grade of work which I* being done by family of and pu pils forecssla a remarkable sue cess for the four weeks school term. CONTRACT is let FOM SCHISM. ANINKX Columbia. June 21 At n ?pe clal mei-ilng of l he Tyrrell Coun ty Hoard of Education held Tues day afternoon. June 22. h con tract was let lo John W. Hud son. of Tarboro. for the construc tion of nn annex to rh" Col urn i bia School Hulldlbg Thla annex will provide an auditorium seat ing about ?00 people, ttnd several class rooms, Including rooms for I Home Economic! and Agriculture | KAINS CHANGED OUTLOOK GLOOM TO BRIGHTNESS A?riculluriil II?|m-n lllos ; mini Anew ii? Vi ators |)e | xt-eud |I|h>u the Thir?tv Kiuili Tlii* Week | ' ir "i ?hrr ili^rili ;2I The entire agricultural oul jlook In North Carolina ban boon <*b:tiiK**<l fruni one of dri<|u<iii gloom t? mil' of uiiumiiuI brightness uh m j result of Ho- ruiiiH of ibt* past few { days. according to CommlMslouer | W. A. Hraliam of tb? Stall* bit 'purimenl of Agriculture, wlio called attention to ilu* fart If the | rain . bail come pvpii a week later] ' ban it <1 ill . It would have been too i ; lulc to In* of any In lolit to many I of ibi' i*friips. /Kh It wan. h(iwi>ver, j I bo iiocdfd moist mv came right at ' 'the psycliologh al moment ami | i crops that looked like failures a ! week ago How are In most proiuls I lug mndlHon over the ??mire state. While there ha< been no geuer al rain ??v. r the entire State slnre , last SatiiKlay ami Snmlay, a rain of nearly lhree-<|iiurl era of an Inch fell in Ituleigh anil the surround- I lux I'onutry Tuesday night. with rain in limber degree extending north -rant ward to Cape llatterao. I Charlotte, however, did not have [ any rain Tuesday night. though it had thunder and lightning Neith er was there any rain In the Wll I tuington seel lull. However, crop* are probably ! i more bark ward in the Itnleigh area than any other, and thi* addition- 1 al rain will do murh to help thin' 1 seet Ion. Two members of the rrop re- i porting service of the fltate I pa r I men t of Agrirullure Just bark from a survey trip through the I'ledmmit nud Wen tern section* of Hie State, report that crops are looking exceptionally well in the Western part of the Stale, eipec tally grain*, with the exception of j MU, which Ih very poor In all lions. A very pronounced Increase' In the acreage planted lo rye was noted In nil section. The corn ac I reage I* about normal, the stands | ami rondltlon good, though bark ward. Cotton as far west uh th* I belt extends is In good rondltlon, 1 RMtrally better than In I ha CM t rul-eastern aeetlon of the bi ll All corps In the vlrlnlty of Charlotte , were reported to Iw the best xeen In the entire trip. letter Produced For (Committee Washington. June 2 1. The let ter in which I'eter I* Walsh. I'll ts ? buriili N superintendent of police "Instructed" members of the force that "we evpect a large majority In their reMpertlv*' dlstrlrtK for the IN -pper ?- Fisher ticket" In the recent Pennsylvania primary was products) in fore the Senate ram- i pa Ik ii funds committee today. The letter was read by Chair man fired after Wnlsh himself, railed to the stand as a surprise witneftn, bad ln>dxted that no one asked him to support the J'epper Flsher coalition and that he made no effort to "line up the force" for rinonlnatlon of Senator I'epper and selection erf John S. Fisher for governor. The polire superintendent ac knowledged the signature at Hi" end of the letter but said It had I b"en s?nt only to the detective force who as a rule bad charge of I "getting out" the votes. OUTLINE POLICY IS PRESENTED BY W. J. DONOVAN AhmIhIuiiI Attorney (tt'iifrftl Drlivrrrd Carefully frif pared and Approved Ad* tlrt'MH at Banker*' Meeting SI'KECII IS W -MINING ( .im rnmrnl Itapidly f?+ injj H<-|>oii?i!>ilil v to Fol low Saint* I'oliry in Do mes! ie an Foreign hians n> ii a viii i.AwitKM'if; , (C??,m?M. Ik.'t. k? nt? Affim) Washington. June 24.? -No .more i in porta 11 1 outline of policy wljh reference lo the conduct ' of business in America on u large lr.cal.' has coin** from tin* ( <>o1I<Jb? 1 administration than the wpt-ffh d>? ' livered by Colonel William J. Don ovan. assistant Attorney General, before the New York State Bank ? I'm" Association at Quebec. Tim speech ha* been u long time in preparation. It was fully approved by Attorney General ' Sargent before being delivered ami the general principles con tained therein iiave in turn been ; eudorHed by President Coolldgein his talks with the Attorney Gan eral. In a nutshell, the speech la a j warning to the investment bank ers of America not to float securi ties to the Auiericau people baaed | on mergers of businesseM which ; may In themselves be a violati^l 'of antitrust laws or which may nieiin mil ht Inn the consumer lliiough monopoly control of j prices. v. . It- means that the Government j here while loath to act as i visor of domestic loans Is rapidly feeling a responsibility to follow I much the same policy as Is beta# ; followed by the Department Of iStntr In the matter of forelf? To profit themselves iKiiOit ' illVl'Ht iKiltloil If IIC?t |>rOHACUtlon, j companies which wish to merge I with I'uch oilier may. have to cart ly their plans to the Department of Justice no that careful examin ation may be mad* of the term of iho merger and the coii4ltlpH|l 'under which the H?-cuiltles are to lm offered to the Investors of tna country. I Til la procedure in not relished i hy the Government any more than 'It Ih hy the business 6r haiUtitUI i world. But the tendency to make largo flotations of securities fd the public on mergers that may o{ may not Ih* basically Hound .grf which some day may fhetnMMNM h?? depressed in value becauat'of Government action under the truaC lawn Ih giving the administrated here considerable concern. As Col onel Donovun points out, aOdfttf and legitimate mergers will suf fer If there Is no distinction made as against unsound and Illegal mergers. Then there In the danger to tha Government that a merger ,once 'approved will go the publlo and necuritlea purchased later may be de pressed because of ma nagetueiit or ciiauge In noinlc factors. The admlnlatcaf tlon which happened to approve such a merger would not wish lb bo held accountable at the polls for possible losses to Individual iuvestors. ????*? So the policy that Is being *eyn sidcred Ih otie which oil the'jpiUl hand will not involve any direst approval of domestic loana -on guarantee thereof and on the ottf* er hand will not cause big bual ii ess or the banking world td near Kate to go ahead for fear of ul timate prosecution. The uient of Justice may do as t he% po part ment of Htate does; numbly, invite the big banking Institution* iM'fore making any big loana oh domestic mergers to lay the ftMfp before the Washington anthorl t les. Then after an examination If it appears there in no aiitl-trnat law being violated Mini no mlsi n -Mentation of values In the of the security offering, a brief statement would be made to* the effect that the Department of Jus tice sees no objection to the pubr lie dotation of the loan. 4 , , j While such a policy will not be received at first as salutary, hei er-t he-lees then' are soma here- In Government circles who believe that ultimately it would be pre ferred to a policy of uncertainty with the Government ready and able to throw a monkey wrench into the machinery hy starting in Investigation Just about the tima. plans for a merger are complete and securities are about to be of fered. (Colonel Donovan's speech la prompted hy such experience as th?? Department' of Justice haa bid with the merger of the bread manufacturers and sundry Investi gations it has made recently of the tendency in the banking worl4 to float securities on big hualneig. combinations. Mrs. Charlie Williams and little sons returned to tbelr home kt Washington, D. 0., Friday, niter ti pending sevaral weeks here.
The Daily Advance (Elizabeth City, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
June 24, 1926, edition 1
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