Evening Star Newspaper, May 16, 1926, Page 13

GREAT THRIFT ERA SEEN BY BROKERS American Investors, Greatly Increased Since War, Look- K ing Toward Europe. ! BY DAVID LAWRENCE. WHITE SULPHUR SPRINGS, W Va., May 1i.—An era of investment wellcled in - Ame 1 history is ast by members of the Invest t Bankers' wions gathered in discussing the signs of the tume Along with the economic growth nd prospenty of the United States ince the war, there has developed « endency toward thrift which is re- ect; in the reports of bankers from the country. They tell parts of the s sress ) i has made in the se m the my of investors has made the In. vestr Bankers' Associati feel u ater responsibility than . s to the duty of its mem Lers tect the public inst traudulen rrities. - Listening to the discus one is impressed the serio with which the ma in the floatations of se: 1 of opinion an and borrowing tes which has tardly scrutched. Confidence Is Keynote. Pluns for the f £ of railroads and publie lities keting « and securitic rrally are being wade with confidence that the people will_absorb good offerings as rapidly 15 they are put out There ix, of course, u general satis- faction with the business condition of the country and a feeling that be. vause of this the market for good securities will grow to unprecedented proportion in the next few vears. Despite the fact the United States as not become a political partner of Europe since the war, interesting comments were made here on the ex- °nt to which the American inves. tors are becoming the economic part ers of foreign peoples, not only in he fifancing ot government loans ut in the rehabilitation of foreign stries and in the development of ropean trade and industry general 1y As an evidence of the belief that ioreign loans will become increasingly important to the investment banker, ihe board of governors approved an appropriation cf §10,000 to conduct re- searches in foreign finance in co-op- eration with New York University. Federal Attitude Disapproved. Some informal comment wa as to the attitude of the Federal - ernment toward foreign loans. It is 1o exaggeration to say that the policy of the Department of State in inter- posing objections to loans of a pro- ductive commerclal character is re- garded as unwarrantefl interference in private business. This feeling will apparently grow more pronounced now that the Federal Government has arranged settlements with prac- tically all the European countries who horrowed money during the war. The bankers were quite willlng to defer 10 the wishes of the Washington Gov- ernment so long as by so doing they were assisting in the patriotic task of bringing the United States Gov- ernment into agreement with foreign zovernments, but now that this is concluded they feel that governmental consideration of the wisdom of private loans is not in keeping with the principle of governmental abstention from private business. It is argued that the commodity of credit is as much an article of import and export as ahy material that goes into the manufacturing side of industry and that there has never been public ap- proval of embargoes in time of peace. So as the war emergency comes to an end with the making of the last ngreement on war debts the Washing. ton Government will be asked to lift the ban on private loans. This will not be done formall 1 heard ¢, but in individual cases. It has bes acute as the B bankers ha <tepped in and made loans, which have been forbidden to American bankers by the authorities at Wash- ington. So long as no agreement exists between nations to interrupt the flow of capital in specific cases the American bankers think it is ask- ing too much of them to impose the restraints that exist today. Members Talk Foreign Finance. \lthough the subject of European finances did not come up in any for lks, there was a _good deal of among the members to what is going to hap- pen to the Dawes plan as the time ap. proaches for the decision of the all fmportant question of transfers. The seneral feeling seems to be that the Dawes plan was an excellent concep. tion. in fact, a splendid device to get the subject of German reparations on a business rather than u political ba- i, Out o sentiment there is be- zinning to crystallize a bellef that re- Vislon of the Dawes plan, also from a business viewpoint, will become in- valuable. The thought seems to be fairly eral that the export of too much German capital to pay repara- tions will not sit well with the business world and that considerations of in. ternational exchange at the proper ime will demand lesser payments from Germany than have been stipulated. Notwithstanding _the hints which have come from Washington officials that the transfer problem may have its effect on private loans, the belief ppears to be held that as Germany zets back on her feet there will be little or no restraint placed on her op- portunity to horrow money in America for productive purpos under- confidence exp: bank- sed else loans. aver 1hiere is an assur: on the part of meeting_thelr paymen loans. This is due not only to the fact that the amount of the private Joans is a relatively small item com- pared to the indebtedness of govern- ments to each other, but because the era of government lending has ceased and nations have become wholly de- pendent on the commercinl status of their credit for future borrowings. Jt is not conceived that any foreign people would risk its permanent credit by default in any particular on private loans. That's why the bankers are looking forward to even greater opportuni- ties in the future to assist foreisn governments_in their financing. (Copyright. 1926.) Musical and Dance. A musical and dance social for the colored ex-service men will be held in the Red Cross Building at St. Eliza- beth’s Hospital Monday evening. Mrs. Lelia L. Thomas, one of the welfare workers in the War Depart- went, has arranged a program, which includes vocal selections by Frederick Grant, Richard Whalley, Miss Arline Young, Miss Isabella Parker and Mrs. A. C. Brooks; solo dances by Miss Loulse Alexander, Miss Hortense iray, Alden Gar: : violin selection by Weaver ¢ and_piano selec- tions by Miss Thelma Thomas and Bernard Walton. - HUNDREDS VIEW Abe Martin Says: | 4 | | | \ t' give up | as fiddlers Uncle Ez Pash is goin’ golf an’ take up th’ fiddle * live longer. Lark started fer Miammy mornin’ ' buy an auto. 1 (Copyright, John Dille Co.) | this NEW BEAUTY AIDS Inquisitive Flappers Crowd | Doctors From Electro- therapeutic Show. By Consolidated Press. NEwW ORK, May 15.—Hundreds of inquisitive flappers, eager to learn how they could acquire beauty, a trim | figure and a glowing personality | through the commonplace electric | light socket, almost crowded physi- | clans, surgeons and dentists off the { floor at the fourth annual electro- | | therapeutic show held here this week. | | The strange-looking assortment of | | devices would have baffled even & | flapper if there hadn't been attend- | |ants at hand to give adequate nan- | technical explanations. In one corner | | stood a contrivance that looked like a bundle of motor-driven rolling pins. It was a portable rejuvenator, con- sisting of a revolving cylinder with closely spaced rollers of frreg- ular shape. The rolling kneading | and massage action of the rollers breaks down fat tissues and stim- ulates muscular activity and blood circulation. In short, it gives phys cal exercise without taxing the heart. There were so many exhibits of violet ray apparatus that the inquir- ing flappers could scarcely get around to them all. They seem to have some use in about all the ills to which the human flesh is heir. Not only will they improve the complexion and re- duce obesity, say their proponent: but they can be used to remove wart: treat brain fag and nervous disorders and afford relief in hardening of the arteries and in headaches and ca- tarrh. The artificial sun baths attracted many feminine eyes. One firm dis- played a combination electric lght bath and electric treatment table. Only the patlent’s head protrudes from this covered table. What 'looked like tempting dis- play of raw beefsteak turned out to be a demonstration of surgical ap- paratus for performing bloodless oper- ations. Wielding a aeedle attached to a bandle, the demonstrator ran the point through the plece of beefsteak, making a clean cut. The needle is an electrode utilizing a high-fre- quency current, and the tissues of the flesh fall apart under its touch without any appearance of blood. If you'd like to enjoy the sensation of becoming an electric condenser, you may try the chair used in treat- ment of high-blood pressure. This chair is so insulated that the patient sitting in it is converted into a ley- den jar. The electric current dilates the arteries and relieves pressure on the heart. Prominent in this year's show was the latest development of the diather- mia apparatus, which is being in- creasingly used in the treatment of pneumonia and other illness where it is necessary to generate internal heat. Two plates are used, which generate the maximum of heat mid- way between them. _ NORTH CAROLINA SOCIETY TO MEET THURSDAY NIGHT 151st Anniversary of MecklenburgJ Declaration of Independence + to Be Observed. Frank Page, chairman of the North Carolina_State Highway Commission, will be the guest of honor and prin- cipal speaker at a meeting of the North Carolina Soclety at the May- flower Hotel Thursday night in cel>- bration of the 151st anniversary of the signing of the Mecklenberg dec- laration of Independence. The sub- ject of Mr. Page's address will be “North Carolina—Its Past, Present and Future.” Other features will be the reading of the Mecklenburg declaration, a brief address by David H. Blair, com- missioner of internal revenue, and orchestra music. Dancing and cards will follow. Dr. Wade H. Atkinson, president of the soclety, has appointed the fol- lowing committee on arrangements: Mrs. Goodwin Ellsworth, Mrs. H. E. C. Bryant and Mrs. George B. King. Other officers of the society are Fd- gar Turlington and Goodwin Ells- worth, vice presidents, and James Y. | E. Allen, secretary-treasurer. News Photographer Obliged. Tn London recently at a smart wed- ding the bridegroom, for the accom- modation of the newspaper photogra- phers, kissed the bride just before entering the bridal carriage. One dis- consolate newspaper man missed the “ghot,” and explaining his dilemma. to the bridegroom, the latter readily as- sented to repeat the kiss so that the photographer would not be called on the carpet by his editor for missing the pictur GeneralEltor Company, Inc. 487 C St. NW. Washington, D. C. 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