The Bismarck Tribune Newspaper, June 1, 1922, Page 2

Be ’ PAGE T SETTLEMENT OF MEXICO’ BIG FINANCIAL PROBLEMS TAKEN UP BY INTERNATIONAL BANKERS INN. Y. Return of Thomas W. Lamont From Europe Prepares Way For Conference OPPOSITION - TO Efforts of International Bankers To, Bring Settlement Were ‘Once Defeated, New York, June 1.—(By the Asso- ciated Press)—Settlement of Mexico’s financial problems, which has been held in abeyance since 1914 when that country ceased ‘tie paymen’ of jnterest.on most of its internal and ex- ternal loans, is expected to result from the conference to. be held here between Adolfo de la Huerta, Mexican Secretary of the Treasury and a del- egation of the International Commit- tee of Bankers on Mexico headed by Thomas W. Lamont, who arrived from Europe today. While exact statistics are not ob- tainable, .Mexico’s national debt is approximately $700,000,000 not includ. ing claims for property damage against the government and deprecia- tfon of nationalized railnoad prop- erty, The direct external debt as com- piled by the international committee, amounts to $239/137,818.10; the direct internal debt to $90,998,298.13; bonds guaranteed by the Mexican govern- ment: (exclusive of railway guarantee) | to. $43,009,531.88 and the bonded in- debtedness of the National Rajlways of Mexico to $320,141,178.30, making a.total of $693,286,826.41. These fig- ures include interest approximated to December 1, 1921. Values Jump Transactions in Mexican govern- ment securities have been very active since the debt refunding negotiations were resumed. In_ the first five months of this year Mexican govern- ment 5’s ranged from 54 to 70 1-2 and the 4’s from 39 3-4 to 62. In the week ending April 8, when it was announced that Senor de Ja Huerta was coming to New York, the price of the 5’s umped 4 pjoints to 65, total transactions for that week being | $654,000.. At the same time the, 4’s rose from 54 to 62 with total sales of $1,020,000. In 1914 when interest payments were stopped Mexican government 5's sold as low as 74 in April and as high as 85 in June while the 4's varied only a few points, the high ‘mark be- ing 68, In 1920 the 5‘s dropped to 29:3-4 in March and rose to 50 in No- vember, total transactions for the year being $7;540,000. The 4's in 1920 went.down'to 26-in May and up to 39 1-4 in November, total sales being $1,- 553,000. “Jn 1921 the.’s were quoted at 40 in January and 60-1-4 in September, to- tal sales being $14,061,000. Last year the 4's were down to 28 in January and up to 483-4 in September, total sales being $4,517,000. Local bankers esttwate that well over half of these Mexican govern- ment bonds and notes are held in Eu- rope where most. of the public offer ings took place. The war made it al- most impossiblé to keep a record of transactions -in these securities, but a large percentage of them were held originally in Germany. It is known, however, that large plocks of these German-held securities were sold in the London, Paris and New York markets in ae bay weeks preceding he outbreak of the war. : ‘i It is reported also that. Allied and neutral investors obtained posses- sion of others during the war despite the fact that trading with the enemy was forbidden in all Allied countries. Representatives of German interests here frankly stated that it was im- possible to estimate the present Mex- ican holdings of German investors. Fails to Meet~ Obligations Failure of the Mexican government. to meet its obligations followed soon after the assassination of President Francisco Madero in 1913. When Gen- eral Victoriano Huerta became Presi-, dent, the United ‘States did, not rec- ognize his government and no pay. ments of interest ‘on’ outstanding ob- ligations .were made outside of Mex- ico during his regime. He was suc- - ceeded in-the Presidency by Venus- tiano Carranza. ‘ é During Carranza’s administration, the: International Committee of Bank- ers on Mexico was formed. It was orgartized in -New York February 24, 1919, and consisted of ten Amcrican,, five French ‘and five British bankers, with: J. P. Morgan as chairman and Thomas W. Lamont of the Morgan firm as his alternate. one American member, Edward F. Swinney, of Kansas City, Mo., re- signed and two others, James Speyer and.R, G. Hutchins, Jr, were added, consolidating the American interest in ‘the protection of holders of Mexi- can securities, Two names also were added to the British group, including that of C. E. ter Meulen, Amsterdam banker, which gives representation to the Dutch in- terests. To the French group were added, .G. Pictet, Geneva banker and Auguste Dupont, Antwerp banker, giving representation to the Swiss and Belgian jinterests, respectively. Shortly after this international committee was. organized, President Carranza sent Rafael Nieto, acting Minister of Finance, to New York in an effort to work out a plan of set- tlement. ‘Several general conversa- tions .were held on ithe subject, but nothing came .out of them. In the fall of that year another unsuccessful attempt to come to an agreement was made when General Salvador Alvara- do came to New York. Cabrera Blamed Luis Cabrera, Secretary of the Treasury, under Carranza, was re-| garded by international bankers as antagonistic to all their proposals and he was generally blamed by them for the failure to come to terms. Last fall Mr. Lamont, as chairman of the committee, went to Mexico City at the invitation of the Mexican govern- ment and spent two weeks conferring with Mexican treasury officials. Mr. Lamont stated upon his departure that after a long discussion the Mexi- PLANS | Since. then; Ser est ; can government and the international committee had failed to come to 4 substantial agreement but Adolfo de la Huerta, Mexican Minster of Fi- nance, was more hopeful. . While. no official statements were given out as to the nature of the dis- cussions it was reported from gen- erally authentic soyrces, and. never denied that one of the features, of the agreement proposed by the Mex- icans_ was that American oil men should purchase these Mexican gov- ernment securities in the open mar- ket and use them to pay their export taxes to the Mexican government, the understanding béing that the securi- ties would be accepted by the Mexi- can government at their par value. International bankers looked with disfavor upon this proposal, which they considered would have meant countenancing the Mexican govern- ment in the disregard of its pledge to devote the proceeds of its exports and taxes to the payment of sinking funds on certain of its exterior obligations. They also pointed out that it would encourage the government, by with- holding. current income, to depress the price of its outstanding securities so | as to buy them. in at. lower prices for itself, using for this purpose the reve- nues specifically. intended for its payment of interest on its foreign bonds, Efforts, Resumed. LAN Acceptance of the plan by. the in- ternational bankers. also would have placed them in the position, they con- tended, of going to the persons, to whom they sold the bonds at or near par and of inducing them to part with their-bonds at depreciated prices. While negotiations for a settlement were temporarily halted by Mr. La- mont’s return, they were not aband- oned. Informal communications pass: ed back and forth between Mr. La- mont and Mexican officials. Early in April of this year it was announced that Senor de la Huerta would come to New York late in May to discuss readjustment of the Mexican debt with Mr, Lamont and a delegation of the International committee. Soon afterward Mr. Lamont sailed for Eu- rope for preliminary discussions with his British and French associates, prior to the conference with Senor de la Huerta in this city. RECOGNITION’ FOR BRAVERY SOUGHT FOR San Francisco, Calif.,..June 1— Lieutenant Colonel Andrew S. Rowan, retired, the man who carried the fam- ous “message to Garcia” in 1898, dur- ing the Spanish-American war, will receive a belated recognition for bra- very, if Senator Samuel, F. Shortridge of California can bring it about. The’ Senator has received assurances from Secretary of War Weeks that he will take up with the army board having jurisdiction the granting of a medal or ofa distinguished service cross. Lieutenant General Nelson A. Miles ordered young Lieutenant Rowan to deliver a “message to Garcia.” Dis- cretion, initiative and bravery were re- quired. Rowan did not ask who Gar- cia was, where he could be found, or how to get there. Instead, he deliv- ered the message to General Garcia, in the interior of Cuba, where Gar- cia with his little band of patriots was almost surrounded by Spanish forces, Rowan knew that, if the mes- sage were intercepted by the Spani ards he would be shot or hanged as spy. | aj _ Garcia, heartened by the promise of aid from the United States, just en- tering the war, with Spain, fought on, and the foe was overcome. Lieutenant Rowan was cited by General Miles in dispatches to Wash- ington as follows: ‘ “This was a most perilous under- taking, and-in my judgment Lieut- enant Rowan performed an act of heroism and cool daring that has rare- ly been excelled in the annals of. war-| fare.” j Rowan later was appointed lieuten-; ant colonel of volunteers, and in 1908: was retired from the regular army with the rank of major. He resides’ in San Francisco. 4 “THE BISMARCK TRIBUNE JACKIE: COOGAN. A Varlous*pose _ _ By James W. Dean / New York, June 1—A widely spread notion is that Jack Coogan is a great comedian. Some have said that he is second only ‘to Charlie’ Chaplin who first ae e him prominence in “The ‘After: sittings ‘through two show- ings of “Trouble,” Jackie’s lates, I am convinced that he is a tragedian equal to .or better, than. the great Chaplin. But Jackie“Coogan is a child, a serious: little-ene who probes into the dim past of grown-ups and presents the retrospect of childhood’s serious- ness. Therein lies the tragic quality of his acting. A little boy trying to be funny. is not comedy, but there is an ineffable poignancy in the sight of a tattered little scalawag trying to shoulder the troubles of the universe. It is thus that you find Jackie in “Trouble.” A dog and an “adopted” mother are the two things that are dear to the little tatterdemalion in “Trouble.” The entire play pivots:upon his affec- tion for these two. Only a man who as a boy thought of his mother as hav- ing a little too much of this world’s Jackie Coogan, youth! troubles and of his dog as a creature of understanding and human impulse can appreciate the pathos of this pic- ture, mistakenly called:-a comedy. , The story in brief of “Trouble” runs as follows: A cop, finds Jackie and his dog, “Queenie,” asleep in an alley and takes them ‘back to the orphanage where Jackie belonged and the dog didn’t. _On “bargain day” only Jackie and a little negro are left. Jackie paints the negro white, only to find that a col- ored man and woman have come to adopt one of their race. Jackie hur- tiedly washes off the white paint and then he alone is left unclaimed. A plumber’s wife adopts Jackie Her husband beats and mistreats her and will not work. When he refuses to answer a call Jackie goes in his stead. By many ingenious and ludi- erous devices the boy gets the tools to the house, but only succeds in flooding the place. The mistress pities him and gives him $5. : , When he gives the money to his mother, his father takes it away. A policeman comes and after a strenu- ous fight the plymber $s subdued senly after Jackie crocks him with a flower _ pot. The ‘judge sends the father to jail and the mother’s parents take- her home, but not until Jackie finds “Queenie.” If ever a dog acted with ‘homan intelligence before the camera it:is this mongrel. i *. <2 : ‘No filn-has cavigltthe tender path- 08 of childhood as has “Trouble.” It is ah‘epic of: human interest and in that respect takes its place alongside “The Jack Knife Man.” “The Kid.” “The Positively! Fi ‘The biggest dol- lar’s worth today | Agenuine Gillette Uses the genuine Gillette Blades Now at all . Dealers The Brownie. GREAT. TRAGEDIAN ter of the mimetic art, and some of his COMEDIAN? NO, A Miracle Man” and “Orphans of the; Storm.” AY + Charlie Chaplain would like to bor- | = *, St. Paul—But = Es=4 Zaza—E un riso gentil Jasmine Door Stabat Mater—Cujus Animam Stabat Mater—Inflammatus (Rossini) TUNEFUL CONCERT AND OPERATIC Echo Song (Sir Henry R. Bishop) . Only to Dream You Love Me! Die Tote Stadt—Lautenlied der Marietta (Song of the Lute) (Korngold) / German Lohengrin—Elsas Traum (Elsa’s Dream) (Wagner) /u German (’Tis a Gentle Smile) (Leoncavallo) 4x /atian Giovanni Martinelli ‘row the’ castle and drawbridge set Doug ‘is using for “Robin Hood.’ - Douwg asked him what he’d do with it. Chaplin answered: “I’d get into my derby and shoes, have the drawbridge let down, walk out, throw the cat into the front yard, pick up the milk bottle and morning paper, walk back into the castle and have them pull up the drawbridge.” m nd “Affinities,” by Mary Roberts Rine- hart, is being photodramatized by Ward Lascelle with Coleen Moore playing the lead. ie Doris Pawn plays opposite Rich- ard Talmadge in, “Lucky Thirteen.” oe A sandstrom allowed Tod Brown- ing to shoot in half a day scenes nec- essary for “Under Two Flags” which he thought would require months with the aid ef wind machines. The sand- storm buried the wind.machi PASTORS MAY ATTEND:SUMMER SCHOOL IN, MINN. St. Paul, Minn; Jane 1--Selectéd town and_country pastors, from the states of Wisconsin, North and South Dakota, northern Iowa and Minnesota, will attend a summer school of meth- ods at Hamline Uniyersity here, June 12 to July 1, under the auspices of the hoard of, home missions of the Metho- dist Episcopal church. Prof. Albert Z,.Mann of Hamline university, will be dean of the school and Prof. F, Watson: Hannan, of, New Theological Seminary, Madison, N. J., will head the, faculty list. i It is proposed to devise new me- thods for country: churches so as to make a bigger factor in the social and recreatianal:dife of a community, according:to.Prof,. Mann. Two import- ant phases’ of the school work will center on dramatic education and the community institute, Mr. Mann. said. THURSDAY, JUNE 1, 1922 Unless you see name “Bayer” on tablets, you are not getting the genuine Bayer product prescribed by physi- cians over 22 years and proved safe by millions for Colds Headache Toothache Neuralgia Earache Lumbago ‘Accept only “Bayer” package which contains proper directions. Handy “Bayer” boxes of 12 tablets—Also bottles of 24 and 100—Druggists. Aspirin 18 tho trade mark of Bayor Manufacture of Monoaceticacidester of Salicylicacid Rheumatism Neuritis Pain, Pain , British coal miners returning to| A variety of corn grains was found work’ after fhe Jong strike’ found|in the mortuary urns of prehistoric their, hands go soft that they could| graves, recently unearthed in Tennes- not. work, Cniasiemanh “HIS MASTER'S VOICE" SACRED SELECTIONS the Lord is Mindful of His Own (Rossini) (Weatherly-Scott) Moonrise 3 (Dick-Samuels) MELODIOUS INSTRUMENTAL Midsummer Serenade Slavonic Dance No. 1 Slavonic Dance No. 2 : Faust—Waltz from Kermesse Scene (Gounod) Accordion Solo Accordion Solo Medley of Fav Nijht’s Dream—Wedding March (Drdla): Violin. Solo (Dvorak) (Dvorak) orite Operatic Airs LIGHT, :TUNEFUL VOCAL SELECTIONS Baby A Little Home with You Indiana Lullaby (Waltz Song) Marchéta | (Love Song of Old Mexico) Mamimy‘Lou Pick Me Up an (from ‘‘The Wake Up Little Girl You’re Just Dreaming It’s a Wonderful World After All LITTLE SONGS FOR LITTLE CHILDREN (1) The Bunny Squirrel (5) Gold Fish (Lasciali dir, tu m’ami!) Z# Salian id Lay Me Down in Dear Old Dixieland Gee!) But I Hate to Go Home Alone Don’t Feel Sorry for Me . (2) Pretty Pussy (3) Little Chickens and Snow Birds (6) Bow-wow-wow Number Size Price Mme. Louise Homer 88658 12 $1.75 Lambert Murph: Lucy Isabelle Mars! } 55162 12 1.50 (Mendelssohn) Amelita Galli-Curci Emilio de Gogorza Maria Jeritza Maria Jeritza 12 10 10 12 10 10 10 1.75 1.25 1.25 1.75 1.25 1.25 1.25 74743 66046 66057 74749 66062 66044 66047 Sophie Braslau Reinald Werrenrath (Mendelssohn) Toscanini and La Scala Orchestra Mischa Elman Victor Concert Orchestra Victor Concert Orchestra Pietro Pietro 1.75 1.25 74745 66048 35715 18883 75 Olive Kline Royal Dadmun Olive Kline-Elsie Baker Olive Kline-Elsie Baker Peerless Quartet Peerless Quartet Victor Roberts Victor Roberts Henry Burr Charles Harrison Ese French Doll’) (4) The Alice Green (1) Sing, Bluebird, Sing (2) The Butterfly (3) Robin Redbreast (4) Raindrops (5) Pussy Willow (6) The Woodpecker (7) Jacky Frost (2) The Rainbow (3) Happy Thought (4) Now It is Spring (5) Twinkle, Twinkle, Little Star (1) God Loves Me (2) A Christmas Lullal (1) The Wild Wind (3) (5) The Child Jesus . DANCE SELECTIONS Cuddle Up Blues—Fox Trot My Honey’s Lovin’ Arms—Fox Trot Swanee River Moon—Med. Waltz Introducing “Indiana Lullaby” International Novelty Orchestra Do It Again!—Fox Trot Every Day—Medley Fox Trot (from ‘‘For Goodness Sake”’) Introducing Rose of Stamboul.—Medley Waltz (from ‘‘The Rose of Stamboul’’) Introducing, (from ‘‘The French Doll’’) “Oh Gee! Oh Gosh! (I Love You)” “My Heart is Calling” No Use Crying—Fox Trot Teasin’—Fox Trot You Can Have Ev’ry Light on Broadway—Fox Trot International Novelty Orchestra vey Dove—Fox Trot (from ‘‘The Rose of Stamboul’’) California—Fox Trot , Lo Who Believed in You ?—Fox Trot Some Sunny Day—Fox Trot Rosy Posy—Fox Trot (irom “‘The Blushing Bride”) Victor Talking | Machine Company, 6) The Dolly Alice Green Alice Green Evening Prayer (4) Praise Him Alice Green Paul Whiteman and His Orchestra Joseph C. Smith and His Orchestra Joseph C. Smith and His Orchestra All Star Trio and Their Orchestra All Star Trio and Their Orchestra 18888 18889 18890 18891 Club Royal Orchestra Club Royal Orchestra All Star Trio and Their Orchestra Paul Whiteman and His Orchestra Club Royal Orchestra | | | | Camden,N. ae: f ie a = EtEIEH E3 SE SE 2 Ta: ae ej E 3 Si HK: Ey 7 £.21= : as = rey EA be} Wi =: EF 22% = fe i | yt Lal ri