The Bismarck Tribune Newspaper, August 21, 1937, Page 4

= Je —— : The Bismarck Tribune Am Inéepenésat Newspaper , THE STATE'S re State, City and County Official Newspaper Published daily except Sunday by The Bismarck Tribune Company, Bis- | Sa ne rte ee Doerr ree ne, eae ee ewer Cae ae matter. Behind Washingto nd Scenes power ee and aise (Tri = oem Correspondent) Archis O. Johnson " ‘Kenneth W. Simons | imi ‘Aug. 21. — It you've Vieo Pres. and Gen'l Manager Washington, | worthy in this heading: Member of Audit Bureau of Circulation Secretary ang Editor | been @ fairly constant reader of the papers for the past couple of months, | you may not see anything very note- | ease tact thet Som hae | York Times of June 6, » flour Member of the Associated Press | years ago. = The Associated Press is exclusively entitled to the use for repubiica-| And it carries the suggestion that All rights ef republication of all other matter herein are also reserved. the New Deal has been moving has Last of ‘Northern Securities’ (New York Times) Almost without notice in the newspapers, a company went practically out of existence last Wednesday which three decades | ago had filled a great place in the financial scene. The circum-! | passed through four years ago. i ** * | been on a circular course. In some respects that headline is a landmark showing familiar territory which we stances under which the Northern Securities company was or-| that. The mutilated wage- hour bill ganized in November, 1902, with $261,000,000 of Northern Pa- | cific and Great Northern stock in its possession, are one of Wall Street’s best-remembered traditions. The purchase of Chicago, | ‘His session. Eiforis to get crop cone Burlington & Quincy stock by the two Northern railways, their pris'up and eliminating huge 4 refusal to grant participating ownership to Harriman’s Union | Pluses, have also been “trimmed’ Pacific, the consequent lavish purchase of Northern Pacific; stock by Harriman with proceeds of Union Pacific bonds, the | New Deal enthusiasm, the nation competing purchases of their own stock by Northern Pacific) pera dap od plan germs those: con- | sure | for; Four years ago, in the full tide of interests to prevent Harriman’s getting majority control, had | aims. But both acts were killed by ended in the “Northern Pacific corner” of 1901, when the shares | iret gutenprint rose from barely $100 to a momentary $1,000, and a Stock Ex-/ to legislate on the same subjects is,/ change panic resulted. | fetiarany esha This had created an impossible position. Formation of the | dead for Northern Securities company, for whose $400,000,000 stock | pene were “indignant both the rival interests exchanged their Northern Pacific hold- | nasty mood” over the ings, with the Great Northern stock thrown in, was the result. | ee ee ane - The challenge by Theodore Roosevelt’s attorney general to this | business worth ment o Pour years ago combination of competing railways, under the Anti-Trust Law, | *°complished. in an followed; the supreme court ordered the Northern Securities | come tax publicity to redistribute to its shareholders its stock of the two competing | Plug income tax leaks. gress is still trying to plug the same railways. by the court decision of 1904. Its remaining shareholders voted on Wednesday to relinquish even this shadowy remainder of the company’s one-time power. The question has been raised by the incident why, after; posit insurance, the Northern Securities episode, railway combination and acqui-| other definite secomplishmen: sition of railway control by other railways or through holding t i interesting to notice on a i fi i 1 : i FBR a | | Since then the company has merely received and| \eaks, and nothing seems sure to be i R Ly Ez a i Es BS i 5 companies, should have prevailed as it did in the decade prior | Si waiting to get them into concrete, to 1929. The answer is that public control and regulation of the railways had in the interval created an altered situation which the law had recognized. With its increased powers the/ Interstate Commerce Commission now had the power of veto on such purchases. Repeatedly in that period, even after one railway had bought a dominant interest in another, the com-| his greatest victory. mission ordered the purchasing company to sell the stock The Transportation Act of 1920 had, indeed, distinctly en- couraged consolidation of railways “into a limited number of systems,” and the commission had prepared tentative official ie plans to that effect. That statute had explicitly, under such} In short, the court fight, fail conditions, “relieved from the anti-trust laws” the railways con-| 4 st the court's head. ze a! Ee af RE ge ALD i | i RF Eri q E E ‘ cerned. But that policy had in view primarily the building up reason to he sae of through routes and feeders—not amalgamation of directly competing lines. The railway situation of today thus differs | this gun-wielding also wrecked substantially from that of 1901 or 1902, when personal ambi-| r*lt’s own prestige and prospects tion, scarcely restrained by public ordinance, inspired the fights | But the change in attitude of for control. Under the present laws it would not be possible| preme court, if permanent ane to say of railway combination plans, as Justice Brewer's con- curring decision of 1904 said of the Northern Securities, that | to date. the machinery set up “might be extended until a single corpora- | (CoPyrisht, 1957, NEA Service, tion, whose stock was owned by three or four parties, would be}| SO THEY SAY in sg control of the whole transportation system of the Fiviecy shows that when's col ey Prohibition and Art | Catania, Ztaly. i y E z ; ge Inc.) does not want to bear its own arms | * Herr Hitler has decreed that ony 100 per cent Aryan,| 1 would not go back to an ordinary vacuum-cleaned, bureaucracy-approved art shall be created or shown in the Third Reich. To show people from what they were being protected, he staged a show of “degenerate modern art” | * in Munich. And 400,000 people promptly crowded to see it, in / three weeks. Al Soloon, Lee. Angeles, Cali, Once there was another country. It decided that liquor | seeing his wife showered with was just as bad for its people as Hitler believes modern art to} tery at the Olympic auditorium. be, And thousands of people who hadn’t been particularly in- terested in liquor before crowded into smelly little holes to see | pecause it is usually # divine illusion. what was this stuff that had been so strongly prohibited. If there is any single step calculated to promote interest in| hr fied the sxPerence of rune “degenerate modern art,” Hitler has taken it. But it is probably | beautiful French novelist. just as hard for Europe to learn from our example as it is for ‘us to learn from theirs. Meanest Racket crust. The meanest racket has cropped up again, as it has several | Americans have the ability to laugh times before in various places. This time it is in Knoxville, is Bot weighed Gaon eaters Tenn., that. an old lady called the state department of institu- tions and public welfare, and wanted to know why she hadn’t | "Oi ‘o preserve our sense of humor. set received her pension check “as the man had promised.” She had paid someone a dollar on his promise to speed up granting} aramatic ability, not her of her old age pension. Frances Farmer, movie actress. This contemptible racket must be smeared quickly every * time it lifts its head. For the law prohibits taking of any “‘com- |10ee——Thomas W. Lamont, pensation directly or indirectly” for helping people to get their old age benefits. It is worth a year in jail or $1,000 fine, or Much of the best work done by men today is done in their seventies.— both, to take money for aiding or pretending to aid any old| ‘Copyright, iss), NEA Service, Inc) person to apply for the pension. ; This rigid rule is necessary to prevent opening up humani- } tarian law to the most contemptible of racketeers. Every sus- pected case ought to be promptly reported to the proper author- | around the sun. Probably what it’s ities and just as promptly squelched. s+ The government has broken up a new inheritance swindle in which the ‘Tndians's state tressury reports a surplus, at last promising something | promoters were the only beneficiaries, *e ¢ ites real harmony on the Banks of the Wabash. eee Would you say Stalin was keeping ihe, Dome route eben fhe recent * v 4 . air Jearning interviewing and reporting will be handicapped | sirpiane flights ie aa mele: ates to 9 o> tee oe to 2 Mie cy (Copyright, 1937, NEA Service, Inc.) THE BISMARCK TRIBUNE, SATURDAY, AUGUST 21, 1987 iy ane WREST Co asevELT * OLIWER WENDEL, Hommes THE PRESS NVESTIGATIONS wo MORE ! | it 1837, by The Baltimere Sun FERRE finer cal feeisehs feet itt ital reorganization bill, which would have abolished the independent office of the comptroller general, brought un- der the president's control all the quasi-judicial boards such as the Commerce terstate stripped the senate of a large part of its conforming destroyed but executive domination of the lower federal courts insured. Second, there was the federal wage-| that it was concocted by and-hour control bill, bad enough in | relatively obscure White ite present form but, as originally| visers and was neither presented Grafted, a revival and of; the people as a whole nor explained the NRA which would have given the] them. There was an unquestioned 1,7A famous | | Quaker. 11 Strong when BE mn. i TIC IS Be} 43 Congnizance. OM TriSMaNT TIC 14 Italian river. cama cepa Quaker Colonizer HORIZONTAL 45 Inlet. 16 Aquatic bird. [Y] 18 Railroad. 27 Icy rain. 28 Entrance. (T] 30 Neither. 52 Midday. 54 Fish. 55 Loom bar. AMERICAN HisTopy “try “Aw The Great Gane i POLITICS who stood in the way of his program. answer questions iS 618) Eres, ci gears azestiore pectesotesto Daaieh Seb, Ses te ye G ow ys exw MEREYNOLDs! Am! Me sire. Pic, t is i HE SEWATEcayRTIN-THE-LAND Sty, Aige a Beet Cheese Plain wheat “ Appl on & ¢ Onion E & fs . af By FRANK R. KENT ft i i | rf i 8 ze! F ey i E i © g SEE Mt ni i 8 i ef Ee A ih gree i i E F g ' Sree ny Pate Oo eo east Cust aAar memory i a(t ane lili Heli fuel HH i E i Z | : Fe. é Z t | i i : 3 F | i : E { & 4 Love Gets a Lift BY IDA RINER GLEASON Copyrigit; 1997, NBA Service, Ine. Cae ee nae “Tm all of that, lady,” he|ness of his master. Dogs often re- wiles ot ancetiog card verse,” |laughed. “And now I must be|fiect their owners, you know. But weed taking my pup out for his after-|then the Duchess seems to like FAT—ahe jasiter whe giayea |D00n run. If I don't he'll be tear-/ him well enough already.” - ing around so, the janitor'll prob-| “What do you mean?” Kath- DUCHESS—gatrea ef sur- ably request us to move. Thanks|leen’s expression frankiy showed toeBOFESIOR BRACEY—Eevp- | for asking us to your party.” bean Be see He put the dog down and ‘omen, Duchess, my 1 While Bob endeav- | started for the door. Then he|%eef, collect men just as they add ors to the attentions of the | paused. He'd hunt up Kathleen |Jewels to their collections. She's Duchess be ponders. the question | frst and tell her he would see her | Still young, interesting looking and nally an Eavotelegat later, and make his escape. Sl Ge Cheer CHAPTER VI wouldn't be snagged into such a/ Has she epson gaat BOB had occasion to ask himselt| mess again. It necessary bed tne Hope diamond and some of this question about the pro-| Cato Duchess. “The lees be see te crown jewels of Burope. fessor more than once during the| c+ her the better. Pat had had You'll hear of it in time. At the afternoon. The tall Egyptologist| Os Pv ht when Bij|present she's more interested in had immediately sought out Kath- 7 head linety’ topped | the young man, end when the Jen and the rest of the time he| Such a frowsy head likely topped | 1s Jos'sets ber’ mind oa acquire proceeded to monopolize her so/|* ing anything, she gets it.” that no one else had a chance to| But it was one thing to wish to ese say anything to her. eae rae tang smother {01K ATHLEEN straightened up. “I Several times Bob saw her|do it. The professor had her sbut don’t know why you're telling glance his way as though she| of in a small corner that was in-|..5 a1 this.” she said coldly. “I hoped he would rescue ber, but | PGs Jig rite a dita tae hardly know either our hostess or ere was no way there was no, way for him tolc it At frst she was fattered eae ene se persistently at her side, hanging|by the preference of the older s.cy 414 become interested in each on his arm and laughing up at him | aa aa ty tee Coen Sa | other” In epitie of herself her lips most provocative manner, | feeling squelched quivered a little She lavished caresses on. the un- | tbe Duchess had captured Bob and | Sua’re', = sete oe she sald it responsive Schmatz and chattered ; borne him off, and irritated at Bob| with 9 rush, g about art and Bob's writing and|for letting her do it But there! “ty naq' been. oo. d@iffesent. since how much she was going to enjoy| Was something sbout the smooth- |u.0¢ aay Bob's bettered desk had having him for a neighbor, until| spoken professor with his fashing | 1.0, carried up the stairs, and she his head swam trying to keep up|Dlack eves and insinuating smile | 134 grown to Heten for Schmatz’s with her. that sent a ttle ripple of fear| sompering feet. But of course “T can see how you can write|@cross her mind. Who was this| sais “rich” tegcinating woman red-blooded, he-man tales,” she| mysterious person who talked 80 | woua be more interesting than End. Cropping dowg.on the couch Ties, ge gad [as allng Micrel pele “You're so virile and s0 romantic. |GOwded 90 much into his Hfe-| the tanad to ken ak ier tell me about yoursslt= = sig least, Professor Bracey, Igy Sod decieed Rodale) Stee Bob looked down at her hair|¢6 A RE you pleased to make my feck ete ae Peet eee with a little laugh, smothering a acquaintance or not, my| “Yes.” He lifted her hand and desire to tweak the straying locks, |dear?” the professor ‘was atking| touched his lips to the soft palm. “It’s because I like to eat, lady,” |her, leaning closer. Just then Bob came upon them. he told her, edging away a little.| “Well—oh, yes, of course.” She| “Say, I'm sorry,” he said in “There isn't anything but the de-| smiled up at him. “You see that's|some embarrassment, “I—I seem sire to live that would make me|partly why I wanted to come to|to be making it a crowd. I just slay as many men as I do—if you | the city. In Gloversville we didn't | wanted to say goodby, Kathleen. get what I mean.” He tried tolhave a chance to mest many in-|T've been trying to get @ word turn it off jestingly, but found it-teresting people. It was all very| with you—” hard to disregard the look in the| narrow and conventional, you] “We noticed how hard you were ‘woman's long-lashed eyes. A dan-| know.” Her eyes strayed to where | trying, McTavish,” Professor Bra- serous woman, he decided. One|the Duchess and Bob had been|cey turned and looked at him with he'd hate to have on his trail. ation : Sees eae ye ee Professor's eyes followed | remarking on fact, BUT if the Duchess was con-|ner glance and he asked, “You| the Duchess—" ‘on scious of his uneasiness, the|know the young man the Duchess} A snarl from Gchmatz inter- Duchess did not show it. She only | seems so interested in? Perhsps|rupted him. Before Bob could took his hand in both her slender/he came from your home town,|prevent it the dog snapped at fea ete re eg aed (ee Bracey. how lonely I really am. That's no,” answered a Lay page pty Kathleen. Hagens tinge A well-placed friendship, for someone I can trust | he rented a studio here. He's very | little terrier hard against a tall and in whom I can confide. That’s|nice and his dog has such a cute, | brass vase that stood on the floor. why I liked you the minute I saw | yearning look.” There was a crash and the dog you. ‘You seemed s0 honest and “Yes, yearning is the word.”|rushed across the room, dashing different somehow, Bon, as he| ibe proc years for meng o| peng that wt the Duchess’ “Chatter!” thought “The pooch yearns for nothing so that was leaning against docked her. “This is too the He left a gaping, jageed can.” ‘what makes me question the nice- (Te Bo Continued) i : d F i ey TF E : Pg eae Sda32e Feere eet f ee2ee4 f oe