Evening Star Newspaper, February 11, 1927, Page 6

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e BECK RESOLUTION * OPPOSES 30 TERM House Asked to Go on Record Against, But Vote Is Held Ba Unlikety. The House is asked to go on record In opposition to another term for President Coolidge in a resolution offered yesterday by Representative Joseph D. Beck of Wisconsin, in- surgent Republican, While Mr. Beck's resolution does not mention the President by but merely calls upon the Ho express its approval of the precedent established by Washington and other Presidents, which calls for retirement from office “after their second term it is offered at this time to raise the “third-term issue” against Mr. Coolidge. E Little Prospect of Vete. This is made clear in a statement fssued by Mr. Beck. It comes on the heels of the speech in New Yo by Dr. Nichelas Murray Butler, Ia which Dr. Butler expressed the opin- ion that the President be a candidate to nu*--r"{d " "here seems little prospect of a vote 1‘ the resolution in the House. A flar resolution may be in ed in the Senate. he Beck resolution with a resolution offer 3 sentative Springer, Democrat, of 1lli- nois, in 1875, when President Grant was rounding out two terms and when it appeared Ikely be the choice of the Republicans for the nomination for a third term. The Springer resolution was adopted overwhelmingly at that time. In support of his resolution, Beck sald, in a statement: For 140 years, the Chief Executive: of this nation, Federalists, Dernocrats Whigs and Republicans, have uniforn 1y ol ed the tradition of retiring at the end of two terms im the White House The Father of His Country this wise precedent by announcing in his farewell address that he would not accept a third term. Jefferson, Madi- son, Monroe, Jackson, Cleveland and Wilson kept faith with the unwritten Jaw of the Republic, retiring at the end of two terms to resume their respective stations in the ranks of private citizenship. Names Grant and Roosevelt. "To this number of our great Presi- dents who observed the precedent set by ington, in retiring at the end himself. Mr. of their second term, may be added! Grant and Roosevelt, for neither of them sought more than two terms of continuous incumbency of the presi- dential office. It is true that later both Grant and Roosevelt sought third terms, but in each case another term had intervened since retirement to private life. “Neither Grant nor Roosevelt is just- 1y chargeable in history with seeking as an active candidate to secure re- nomination for a period beyond the traditional two terms through use of the enormous power, patronage and influence of the presidential office. But even the attempt to gain & third term after an interim of private life had intervened was frowned mpon by the Repubiican party and by the American people in 1880 and 1912. Both Grant and Roosevelt were defeated for the Republican nomination when they sought a third term as private citi- ze umerous statements have appear- ed in the press in recent months ad- vancing the argument that since the present occupant of the White House will have served only six vears on March 4, 1929, the third-term tradi- tion should not be raised as a bar to his re-election in 1928. Opposes Another Term. would not| | unde S | tor also has an amendment providing | that no equalzation he would | Funeral of Snake Event of Moment at Virginia Tannery Special Dispatch to The Star. LURAY, Va., February 11.— Burial was given with brief but well attended services yesterday to “Lucky Jake,” pet rattlesnake of the Deford tannery. The reptile, captured by extract wood haulers in the Blue Ridge foothills some time ago, became domesticated and docile in his tame surroundings, but was in poor health during the cold weather, Bruce of Maryland, Democrat, as un constitutional and ecomomically un- S He said he would vote Sen: ment of the McNary-Haugen bill to the populace movement back in the 90s and to the “free silver” move. ment. Curtis Has Own Plan. Senator Curtls of Kansas has al resdy offered a substitute for the Me- Nary bill which eliminates the equali- zation fee entirely and also gives the President full discretion in his ap- pointments to the Federal Farm Board The Curtis substitute, how- ever, which is the same as the Crist bill in the House, is not expected te be adopted Senator McKellar of Tennessee has offered an amendment to include tobacco &s one of the basic agricul- tural commodities which are to benefit the bill. The Tennessee Sena fee on cotton shall be levied for a period of two years from the date of the passage of the bill. Senmator Tysen of Tennessee also has an amendment to include tobacco as one ‘of the basic agricultural com- modities, Reed Attacks Bill. Senator Reed of Missouri, who is commonly mentioned as a possible ocratic neminee for President in , attacked the McNary bill swv- agely, declaring that if it was car» ried to its ultimate conclusion it t|would set up a system of agricultural pednage in the United States, would make slaves of the farmers, and if the principle was extended make slaves of the entire Nation. Senator Reed was speaking under the 15-minute limitation of debate which ran throughout the day. “I think I am safe in saying that not one Senator here would be & pro- onent of this bill were it not for the act that the farmers are not in a properous condition. The situation i { cabinet, took | announcing that bolshevism, like that of a sick man who in hi¢ desperation will take any remedy sug- gested. “The great industrial and financial Interests are making more money than ever. Wages are high and prices are high, very largely through legis lation. But the farmer finds himself in a very different situation. “It is with a feeling of disgust that I see Senators who have favored a high protective tariff now favor this bill. They created the bhardships for the farmer years ago when they took away from the American citizen their rights to buy their goods in a world market. Theirs was the initial step toward a depression of the ers’ condition. They enabled the manu- facturer to make big profits and to charge high prices.” ‘What Bill Provides. The McNary-Haugen farm bill es- tablishes a Federal Farm Board, cre- ates a_ $250,000,000 fund, which may be used to aid in more orderly market- ing of basic farm and produce and sets up the “equalization fee" sys tem, by which the revolving fand i to be reimbursed from the farmers who benefit thereunder. The Federal Farm Board is to be composed of 12 members, one from each of the Federal Land Bank a tricts, and the Secretary of Agrici THE EVENI CHILE DUE 0 DROP New Government lndicatés Hostility Toward U. S. Aims in Tacna-Arica Row. By the Associated Press. SANTIAGO. Chile, February 11.— The policy of the new government, headed by Gen. Carlos Tbanez as pre- mien, is frankly opposed to continua tion of "‘useless negotiations” for set- tiement of the Tacna-Arica problem as between Peru and Chile. A spokexman said today the ques. tion had besn prolonged uselessly by former Chilesn cabinets due to these negotiations, bt that the new govern- ment intended to adopt “an absolutely contrary poliey.” When questioned concerning reports that Chile was likely to annex the dis- puted provinces, the minister of for- eign affairs, Conrado ILios Gallardo said there was no such intention, but he intimated hostility toward continu- ation of the present negoiiations at | Washington. 1banez, war minister in the previous office Wednesd\y after cilitat- vernment, had the country to “deplorable extre and that young blood was nec Twenty naval officers ha following the example of Admiral Juan retired as director ed by a The desire of the younger naval of- ficers for a reorganization of the higher command is looked upon as one of the causes which led indirectly to the ministerial ¢ EASRDS Church Launches Fund Drive. Special Dispatchi- to The Star. Catholic Chureh on the present parish property and at a cost of $13 000, wers announced last night Mayor Thowias W. Koon when he opened the St. Alary’s parish fair, held to launch the drwe for funds. SHIPPING NEWS Arrivals at and_Sailings ¥rom New York, ARRIVED YESTERDAY. raguays—Bermuda . . . ort St. George—Bermud ta Marta—Santa Marta il o ited_States—Copenhagen . Munargo-—Nass: ilvia—St. John ik Erositent Hardine—Bremérhaven DUE TODAY. De Grasse—Havre . Z President Polk—World cri DUE TOMORROW, Matura—Trinidad . Duilia—Genos . . . I SXPECTED ARRIVALS AT NEW Adriatie—Metiterranean cruise 1fonso —Tiavana. .. ... rican Banker—London .. Ammerican_Lewion—Buenos Alres. SR verpoot mador—San Francisc on 1w Amsterdam—Rotterdam. Poedident Adame—World eruiss | Reina—Livernool Republic—Brem Santa’ Cruz—V Vestrix—I Westphalis—Hambury SAILING TODAY. \ PERU NEGOTIATIONS dispatch. ARLINGTON BEACH AND NEARBY GROUND SOUGHT FOR PARKS (Continued from First Page.) senting the varfous defendants will be \held within the next few days, it was dearned. Qalied Part of District. Alexanders Island, the Government wh'l contend, according to indications in the notices already sent out, is a pai\: of the District of Columbia, inas- muil a8 the high-water mark of the Potoniae on the Virginia shore is the dividin'g line between Virginia and the Distriat. The State of Virginia, how- ever, lvas been collecting taxes on Alexanders Island at the rate of about §20,000 each year, according to attorneye for some of the defendants, nd it was considered likely that the State of Virginia may intervene In the case in behalf of the defendants. The promerty is no longer an island, but at one time was seperated from the mainland at certain seasons by water which flowed into two creeks or inlets from the river. These have been filled. SWEDEN HEARS WRIGHT WILL BE NEW MINISTER By the Associated Press. STOCKHOLM, = Sweden, February 11-—It js understood here that J. Butler Wright, Third Assistant Secre- tary of State, will succeed Robert Woods Bliss as American Minister to Sweden. Mr. Bliss was recently appointed Ambassador to Argentina. The State Department today de- cllned to afirm or deny the above REST IN TAX FIGHT Government to Present Evi- dence in Ford Case Begin- ning M_onday. By the Associated Press. Concluding the presentation of their case in the hearing before three mem- bers of the board of tax appeals, coun- sel for former minority stockholders of the Ford Motor Co., who are re- sisting the Government's attempt to levy additional taxes on the sale of thelr stock to the Ford family, yester- day put Commissioner Blair of the In- ternal Revenue Bureau and C. R. Nash, his chief deputy, on the witness stand. After a mass of letters and docu- ments bearing on the controversy had been put into the record, the hearing adjourned until Monday, when the Government will offer evidence. The testimony of Blair and Nash failed to produce official or political sensations and was brief, concerning itself only with their part in notifying Senator Couzens of Michigan, one of the former stockholders, who would be called upon to pay $10,000,000 of the additional $30,000,000 tax assessment, of the reopening of the case. ‘Watson's Letter Put in Record. A letter from Senator Watson, Re- publican, Indiana, to Commissioner Blair, inclosing a copy of a Treasury Department memorandum which challenged its original appraisal of the value of Ford stock, was per- mitted to go into the record. The letter, which was sent in February, 1922, by Watson to Blair's residence, drew a reply from the commissioner G STAR, WASHINGTON, D. O, FRIDAY, FEBRUARY 11, 1927. : IEX-STOCKHOLDERS that another investigatior® of the value of Ford stock, as of March 1, 1013, would be conducted through different. channels, The reading of Watson's letter into the record was not accompanied by comment giving any indication of the motives which prompted him to sug- gest a reopening of the case. Wat- son himself sald yesterday that he could not recall such a letter and would make no statement until he could find it in his files, Senator Couzens, at the Capitol, however, sald that in 1922 the fight on Senator Newberry of Michigan, was in progress and he thought Watson deemed it good politics to start action involving Ford's stock, as the manufacturer had been New- berry’s opponent at the polls. Later, in 1922, Senator Couzens added, the Treasury closed the case, but re- opened it after he made his campaign against the Internal Revenue Bureau in 1926, U. 8. Counsel Protests. Half a dozen other letters and mem- oranda from the files of the Treasury were admitted into the record over the strenuous protests of Alexander W. Gregg of Government counsel. All of them dealt with the approval placed upon the stock valuation made in 1919, after an Investigation had been con: ducted during 1921 and 1922 by various Treasury officlals, ‘The letters concur in indorsing the method employed in arriving in 1919 at the Government's valuation of $9.489 ‘a share, one of the notes from Chairman Johnson of the committee on appeals ana review designating the valuation as “fair hoth to the taxpayer and the Government” and suggesting that the case should be closed. This recommendation was made In Septem ber, 1922, and was supported by C. A Maples, solicitor for the Treasury. Counsel for Couzens and other ap pellants were jubllant over admission of officlal documents sustaining the revaluation of ¥ord stock and declared it nullified the purport of the letter of Commissioner Blair to Senator Couzens in March, 1925, which said that there appeared to be nothing on flle in the Treasury supporting the correctness of the 1919 appraisal. and An Affectionate One Whether it’s a hearty laugh or a sincere smile of fond pleasure—you'll find just the wanted touch of distinction and individuality to create the mood—in the vast assortment of Brewood— ALENTINE A wealth of enfoyable shopping' awaits your choice here today. And the com- prehensive display will amply repay your carly call, ‘BREW@®D Stationers and Engravers 611 Twelfth Street Northwest SUN LIFE ASSURANCE COMPANY OF CANADA A TOWER OF STRENGTH 1926 Insurance in Force (net) - - $1,256,490,000 New Insurance Paid For - Total Income 265,889,000 - 78,972,000 Payments to Policyholders and Beneficiaries - - - - Total lf’aymcnts Since Organiza- tion - - - - o - 38,576,000 257,816,000 Assets at December 31,1926 $345,251,0G0 Volendam — Plymouth, Boulogne. and Rotterd: 11:00 A% Midafght PN tugh as ex-officlo member. The mem. bers are to be appointed by the Pres! dent and confirmed by the Senate. The “The complete answer to this argu- ment is found in this indisputable fact—if re-elected in 1928, President Coolidge will serve until March 4, 1833, or 10 years fromn the time he| first took the oath of office and as sume, the presidency in August, 1923, His re-election would destroy the thiza term tradition of 140 years standing as completely as if it had never existed. He would occupy the first office in our governmental es- tablishment, clothed with two years longer than have ever attached to it in all our lListory, two years longer than the nine Presidents who have heretofore served two terms, and more than twice as long as 19 other Presidents who have served single terms. hen President Coolidge completes his second term of office, March 4, 1829, he will have served six years, or longer than all our Presidents save nine, and within two years of those who served two full terms. Of the 29 men who have occupied the vresi- dential office in all our history, the average tenure has been l:ss than five years. At the end of his present term President Coolidge will have served longer than this average tenure.” SENATE WILL VOTE ON FARM-AID BILL BEFORE TONIGHT (Continued from First Page) the differences which have arisen among supporters of the bill over the provisions as they relate to cotton. As| the Senate met, however, these confer- ences had proved unavailing. Just when it was thought late yesterday that the matter had been straightened out a_further conference was held with Vice President Dawes taking part, and at that conference the old trouble over postponement of the equalization fee on cotton cropped up again. Senator Harrison wishes an in- surance provision inserted in the bill designed to safeguard the cotton farm- ers and other farmers against fluctua- tion of prices. While Senator McNary and others are willing to include the insurance feature there is opposition to having it substituted for the equall- zatlon fee on cotton, with the defer- ment for two vears of the equalization fee on that commodity. The McNary-Haugen bill was de- feated in the Senate last June by n vote of 45-39. Supporters of the bill today were counting on the vote of four Senators who a vear ago had opposed the measure. This would ap- pear to be enough to pass the bill, If the vote in the Senate should result in a tie, Vice President Dawes would be called upon to cast the deciding vote. The Vice President has been in favor of the principle of the McNary- Haugen Dbill. If he should vote for the passage of the bill, and the Presi. dent should veto it later, an unusual situation would be presented. Debate en the McNary-Haugen bill continued today in both the Senate and the House. In the House a vote i5 not expected until next week. Senator Howell of Nebraska, Re publican, opened the debate today in the Senate, supporting the bill. Stewart Supports Bill. Senator Stewart of Towa followed Senator Howell in support of the MeNary-Haugen bill. Senator Walsh, Democrat, offered an amendment pro- posing to defer for two years the equalization fee on all crops as well as on cotton. Without such an amendment, unable to support the bill, districts. ‘widely attacked as an invasion of the appointing power of the President. President, however, is limited in mak- ing his nominations to the board to a list of eligibles nominated by a nomi- nating committee in the Land Bank This provision has been The basic crops originally named in the bill were wheat, swine, corn, rice and cotton. Tobacco will be added be- fore the bill is finally passed by Con gress, If it be passed, it was predicted by supporters of the measure. The equalization fee also has been attacked by the opponents of the measure, who hold it is unconstitu- tional and a price-fixing scheme These charges have been vigorously denied by its proponents, who say it is no more price-fixing than the tariff, which has been set up to aid the manufacturers, Supporters Work Hard. The Federal Farm Board is to de- termine when the equalization fee is to be made effective, but only after the producers of the ¢rop upon which it is to be applied have asked for it. When the present session of Con- gress opened, it did not appear likely that a vote on the McNary-Haugen bill could be had before the close of the session March 4. But the sup- porters of the bill, working indus- triously, had the measure reported to both the Senate and the House, and finally in the Senate, they joined with the supporters of the Pepper-McFad- den branch banking bill to get the two measures to a final vote, and ap- parently with success. The McNary-Haugen bill has much support in the Middle West and the West. Conditions in the cotton and tobacco growing States of the South have gained votes for the bill in both houses this year. Business Organizations Protest. Members of Congress have in recent days been bombarded with objections to the legislation from various busi. ness organizations. The argument that it will force the consumers to pay more for their foodstuffs has been used vigorously. The ers, on the other hand, argue that they pay high prices for what they buy and are compelled to accept “low prices for what they produce. Resentment against the situation which has arisen, in which the farm- er's dollar has less purchasing power than that of the industrialist and la- bor, has become strong in some of the agricultural States. Threats have been made by political leaders in those States that unless something is done to bring about a parity of the farmer’s dollar with that of the rest of the population the farmers of the West will join with the Democrats in reducing the protective tariff. HERRICK GOES TO LONDON Takes Cross-Channel Plane, Which Lands in Fog. PARIS, February 11 (#.—The American Ambassador, Myron T. Herrick, left for London today on the regular noon-day passenger ari-liner. At the embassy it was said there was no significance in Mr. Herrick's trip, which was planned a week ago. He 1s to spend Saturday and Sunday as the guest of Alanson B. Houghton, American Ambassador to Great Brit. | ain. ‘The plane carrying Mr. Herrick en. | countered fog after reaching England he said, he would be and was compelled to land at Lympne, Kent. The Ambassador continued his The bill was attacked by, Senater -trip to London by traln, 1 Noon Poseidon—Turk's oa0 and Maracaibo. . -+ B:OOPM SAILING TOMORROW. Minnetonka—Cherbourg and Lon-. don ST ....10:00 A.M Tuscani. and Tondon . : ket Empress of France—Mediterranean ine ... . N Noor Noon 00 : .10 amero ilie "and ‘Glasgow Cedric—Halifux, ‘Cobh and Liver- | artagen: Pt Coltmons D a and Pue ‘olombia ‘Western World—Ri de Janeiro, Syntos. Montovideo and Bueno Alres ... Araguay; 'l Sfivia—Halifax and St John Aconcagua—Cristobal. West Coast porta and Valparaiso. Fort St. George—Bermuda. .. Toloa—Havana, _Port _Antos Cristobal and Puerto Limon No Woman is Beautiful Who is PoumlldefiMIns vomen and men malc effects of TRON- single e treat- All nt"d'lrl,"l.". (zuoll mased nt' the Simo IZED YEAST. Th‘l' - ml‘"'{?““% ‘;lelk l;:(vd‘?! Fneth: and frmy. . Hollows Alled out. = Kyes . ened. Skin_made satiny smooth with the (ln‘w of llr“lh‘o(vd. X HOW‘II; ‘M“bedc‘:n"e(:o Yea % nave always 1 “fwo ot the kreateat” body’ and Blood l{ sclence. h?g contain nts that buil \IP solid digestion troubles and lONIZED YEAST coi vt hich, 18 nine times more e yedst and iron’taken alone. Don't. Take Sickening Oil ‘Wh; 1iver oil, when ts show th 1 ;th"ox“’xfiou? £ YEAST elves Sou at T bt-buiiding benafits contained in 10 tablespoon! { er 0llT "And you don’ lxllg: llfifil\‘m fishy taste or - e after taking TRON. YN R R Fou will_notice ‘an amazing Tmprovement In xin 1 Yo "Saiow. Pt od flean are -3 I?‘,';i‘.'n.i % awel action are wonderhully improved. it have & ekinny. weak body that looks ';n."'chu h 1t e Mever en had Ehotin:” Dot g0 around with'an uely' ki s‘e’"z Nfe*Eor eversbody: contains no hars- i ar Try It on “Money-Back” Offer any_ 4 get 1 it oo B s, S ot you are not &zl[h L) JCe =7 for U A Total Liabilities - (including Paid-up Capital) Surplus and Contingency Funds Rate of Interest Earned on mean invested assets - - ~ = b 300,240,000 45,011,000 6:69% To secure the absolute protection of its policyholders in the United States the company actually maintains on deposit with United States Trustees ‘approved securities equal to its net liability to American policyholders. Policies written and payable,in United States currency. Dividends to Policyholders increased for seventh successive year. . TOTAL INVESTMENTS IN UNITED STATES SECURITIES EXCEED $125,000,000 EXTRACTS FROM DIRECTORS’ REPORT ‘The operations during the past year have re- sulted mb&mfifl advances in all depart- ments. . . . ‘The new policies paid for. . . . almost double the figures of two years ago. ‘The assurances in force, after deduction of reassurances, . . . . show an increase over twenty-three per cent. Policies and group certificates now outstand- ing aggregate well in excess of half a million. The high quality and profitable character of our investments has again been demonstrated. As a result of continued reduction in prevaitliilfi rates of interest, and of satisfactory indus! conditions, there has been a further rise in the market values of our long-term bonds and of our preferred and other stocks. The appraisal of /our securities made by the Government Insur- ance Department shows that the excess of market values over cost hasincreased during the year by $6,894,266.26. In addition, the sum of $1,729,364.52 has been realized as net profit from the redemption or sale of municipal deben- tures and other securities which had risen to high premiums. The rate of interest earned on the mean invested assets has also risen to the remarkable Ef\lre of 6.69 per cent, as the result of substantial dividend increases, bonuses, and stock privils received in connection with many of our ings. ‘The quality of the investments listed in the assets may be judged from the fact that on 99.55°rer cent of the bonds and on 99.71 per cent of the preferred stocks, not one dollar of in- terest or dividend is in arrear for even one clay. On our common stocks the dividends now being received are greatly in excess of the dividends payable on the same stocks at time of purchase. The total surplus earned during the year amounted to $20,457,077.28. From this the following appropriations have been made: The sum of $2,000,000 has been de- ducted from the official valuation of our se- curities to provide for possible fluctuations in market values. This raises the amount set aside for this purpose to $5,000,000. In other words, the value at which our securities are carried in the balance sheet is $5,000,000 less than the appraisal made by the Government authorities. The account to provide for unforeseen con- tingencies has been increased by $1,000,000 bringing the total under this heading to $11,000,000. .. . An additional amount of $400,000 has been set aside to provide for greater longevity of annuitants. The total held under this head- ing in excess of Government requirements, is now $1,500,000. . .. To our policyholders, profits have been paid or allotted during the year to the amount of $9,235,526.80. After making these deductions and alloca-' tions an addition of $5,371,564.56 has been made to the undivided profits. The surplus over all liabilities, contingency accounts and capital stock, now stands at $34,011,565.25. For six years in succession we have increased the profits to participating policyholders. Dur- ing this Eeriod our profit scale has been doubled. ile the assurances in force have multiplied two and a half times since 1920, the amount paid or allotted as profits to policyholders has multiplied five and a half times. We are gratified to announce, for the seventh consecutive time, a further increase in the scale of profits to be distributed to our policyholders in the ensuing year. SUN LIFE ASSURANCE COMPANY OF CANADA Transportation Bldg., A. D. CARPENTER MANAGER - Washington, D. C.

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