Evening Star Newspaper, April 27, 1930, Page 31

THE UNDAY STAR, WASHINGTON, D. C., APRIL 27, WHITNEY, THOUGHT DUMB IN CRISIS, HEADS EXCHANGE Former Star Athlete Snaps Fingers at Legend Branding Him as Poor Great Britain in India ng Its Wiles to Win Native Princes in Buttressing Its Control Ov.: Empire 1 TWO. {Insurance Salesmar Favorite Policy—S Select One Which BUSINESS RECOGNIZES DIFFERENCES IN PEOPLE 1 No Longer Has tudies Prospect to Best Suits Needs Business Executive. | BY FRANK CODY, | the modern school requires a very much BY THOMAS CARENS, T is altogether characteristic of Richard Whitney, who on May 12, at the somewhat tender age of 41, will become president of the New | York Stock Exchange, that for six | months he has been snapping his | fingers at a legend that would make | most other men red. | The legend, if true, would set “Dick” Whitney down as one of the dumbest men in Wall Street, when everybody from page boy to banker down around | that whirling corner of Broad and Wall | knows that he is one of the smartes Other men, placed in similar circum- stances, would gnash their teeth in rage and would send impressive looking rep- Tesentatives around to editorial sanc- tums seeking explanations. Young Mr, Whitney has found (oo many things of | greater importance claiming the fleet- ing moments of each day. * The legend was born on that never- to-be-forgotten Black Thursday—Octo- ber 24, 1929—when security started to hit the toboggan at a speed unprecedented in Stock Exchange his- tory. It was solemnly asserted by writers who should have known better that at a crucial moment on that fran- tic afternoon Mr. Whitney stepped up to the “Steel Post” on the exchange floor and bid 205 for 25000 shares of United _States Steel, which been offered at 194. Heroism Brought Joshing. Any attempt to check the headlong liquidation of that afternoon was big news and the newspapers of the follow ing morning paid considerable atten- | tion to Mr. Whitney's supposed contri- | bution in that direction. They referred to his “heroism.” and When steel kept going down under 194 there was a dis- position to subject Mr, Whitney to some | good-natured joshing. | The sophisticates of Wall Street knowing “Dick” Whitney and familiar with the mechanics of floor trading. knew from the first that the story was | absurd. For the man who agrees to buy a stock above the curzent quotation is automatically obligated to take every had just | values | | like mine.” | Hills, N. J, he breeds thoroughbred knows its foes, its calumniators. For what is evil he is implacable. A knightly gentleman, capable, genuine. He would add luster to Stock Exchange history.” | Such tributes ought to convince all who are interested in the workings of | the New York Stock Exchange that its | new president is quite a fellow. For the greater part of the last 41 years “Dick” | Whitney's _intimates have been saying | similar things. They will tell yoa, for | instance, that he’s as good as he 100ks. | In any company he would attract atten- | tion, not only because he is a_big man physically, but also because his head | and shoulders would have delighted any Greek sculptor in days of long ago. His jet black hair is thinning on top, and | there is a trace of gray about the | temples. His features are large, but well | proportioned. Under heavy eyebrows | are brown eyes which are just a little | too serious for a man of 41, and the | |lines of his face and a very firm upper | lip also denote an early maturity. i | Scorns Golf as Waste of Time. He stands an_even six feet in his stockings, and although he weighs 210 pounds, that does not include a super- fluous ounce of flesh. Watching him move about you would bet any sum of money that even now he could step into a tackle position on the Harvard line and last through 60 minutes of grueling modern foot ball, or that he could row four miles on the Thames, as he did at bow for Jesse Wade's vic- torious crew at New London just 20 years ago this June. For exercise nowadays he rides horse- back as often as his multitudinous duties in Wall Street permit, and he plays tennis, as he admits, “with all my might, and whenever I can.” He scorns golf for two reasons—it kills too much time and “it’s a bad game, for a temper Out on his estate in Far | horses, and he is racing a string of 2- year-olds this season, with verylittle expectation that he'll ever get a chance to see them run. He is happiest when he can get away for a week end at Far Hills, where he can get acquainted with | share which has been offered below the price he sets. Anxious as Mr. Whitney | may have been to avert the impending panic, neither he nor the gigantic bank- ers' pool which he was presumed to| represent could have afforded such a heroic gesture. It might have meant bankruptey for all of them, and the last state of the market would have been worse than the first It occurred to some of Mr. Whitney's friends. therefore, that he ought to spike the story at once, and some of them set | out to find him and tell him so. But in 's the proverbial needle in the | haystack was easier to find than this | stalwart vice president of the exchange | who had been compelled, through the | temporary absence of the president, to assume all responsibility for weathering the storm. Kept Friends Chasing Him. | When they caught up with him three or four days later he did not know what | they were talking about. He had scarcely had time to eat or sleep, to say nothing of reading the newspapers. And ~hon they suggested that he try to overake the legend he told them he was 100 busy to bother. And for prac- tically every working day of the inter- vening months he has been just as busy. ‘Therefore it was only natural that when the officlal nominating com- mittee of the exchange two weeks ago presented him as the only candidate for the presidency at the election on May 12 some newspapers blossomed forth again with the story of the bid of 205 for steel that was selling at 194. As ‘usual, his friends told him he ought to scotch such a reflection on his busi- ness acumen. As usual, he snapped his fingers and told them he was three minutes late for another committee meeting four floors above ‘What actually happened at the time thus legend gained such wide circula- tion may now be authoritatively set forth. All Mr. Whitney remembers is that on the afternoon of black Thurs- day he walked up to the Steel post, noted that the last quotation was 205 and bid that price for 10,000—not 2 000—shares. He immediately hu away to execute another order. S quently only 200 shares were deliv to him To him it was a trifii episode 1 a rather harrowing day. As for demanding an _explanation—why, the Stock Exchange itself has furnished | two empahtic answers: First, by the adoption of an_extraordinary set of resolutions by the governing commit- tee on November 27; and, second, by his unanimous nol ation as its presi- dent, the youngest man ever to hold such a tremendous responsibility. | Resolutions Tell of Service. | The resolutions adopted by the gov-| erning committee last November are worth reprinting in full, for they recite very compactly the service which Mr. Whitney rendered during the panic. They read “It is an old saying that great emer- gencies produce the men who are com- petent to deal with them, and the truth | of that saying has just been verified in the New York Stock Exchange. The| Tecent crisis brought on by an unprece- dented decline in security values and the strain on the ical machinery of the financial district that accom- panied it will go down in history as unusual. both as to its magnitude and as to its gravity. To meet the danger- ous conditions that had developed so suddenly and <o unexpectedly the Stock Exchange needed above all a leader endowed with courage, resourcefulness and sound judgment in ord®r that the efforts of its members should be properly co-or ed and skilifully directed. adership devolved upon Mr. Rick vice presi- dent of the who exhibited the requi to such high deg was suc- cessfully v d the prestige of the exchange maintained and strength- herefore the governing com- ess to Mr. Rich- 1 of his \scientious labors dur- disturbarce of 1929, their ad- e qualities of lead- him. and their con- ities proved to be ¢ to the exchange mitte ard efficient ing the fi October and Nov miration for the r: prehip displaved Viction that t of inestim »1d be it fu “Resolved yread upon g and a copy SSed e presen at “copy thercof ow between the exq covers of a book whic ized volume in the ‘hitney town home EBeventy-third street Predecessor Lauds Whitney. Another characteristic tribute comes grom the man whom he succeeds as presid Bl Eimmons. When the Btreet with such start October, Mr. Simmons vas in the middie of the Bacic gyean by the time he could arrange sl-»gs ind get Yiome the worst was over aws $he (nAr- ket was fairly well stabilizea. And one and ¢ he m suitably Mr. Whitney." v engrossed bourd most- library at the a; 115 East of the first to applaud the manner in which Mr. Whitney had hurled his per- gonality into the fight was Mr. Sim- ons. Only a few wecks ago, when {r"mmg for Milan to address an inter- tional meeting of bankers as the rep- pescntative of the Stock Exchange, Mr. Bimmons disclosed his own purpose to Tetire after six terms in the presidency, and Mis own hope that the nominators would select Mr. Whitn He thus summarized his qualifications “A real man. broad-visioned, high- rupded, dynamic. He knows the Stock Ldchange, its aims, its purposes. He |only for rowing, because he was plug- | victorious under the old railroad bridge | his horses. They have been his passion since boyhood. “Dick” Whitney is a native ‘of his- toric Essex County, Massachusetts. This Summer the commonwealth of Massa- chusetts is observing the 300th anni- versary of the landing of John Win- throp and the other proprietors of the Bay Colony from the good ship Arbella, and it is a matter of keen pride to the new president of the Stock Exchange that the Arbella brought the first Whit- ney to these shores. They have been taking a_prominent part in the affairs of the Old Bay State ever since, and it is said to be a subject of regret in Boston that the town wasn't quite big enough for “Dick” and his elder brother, | George, now & partner in the house of Morgan. Both sought New York when the ink was hardly dry on their Har- vard sheepskins. In Massachusets the scion of a May- flower or an Arbella family doesn't have much to say about the first 20 vears of his life. At birth he is auto- | matically enrolled for either Groton or | St. Mark’s, then for Harvard College, | then for the Somerset or Union Clubs, | and finally for either Kidder, Peabody & Co. or Lee, Higginson Co., oldest and | most substantial of Boston banking houses. _ “Dick” Whitney took _the Groton-Harvard-Somerset-Kidder, Pea- body route and has traveled very fa but he’s sportsman enough to admit | that the St. Mark's-Harvard-Union-Lee, | Higginson route is a very attractive | highway, too. | Won Fame as Athlete, At school and in college young Whit- | ney's 6 feet marked him for athletics. | He played base ball and foot ball at | Groton, but at Harvard he had time ging to complete his four years in three and thus hasten the day when he would plunge into his chosen profession— finance. He made his freshman eight | in 1908, made the varsity four-oar in his sophomore year and in 1910 he was t bow in the great crew that swept | that warm June evening. It seemed crying shame to Harvard's rowing en- thusiasts that a natural oarsman like Whitney should be so lacking in ap- preciation of the university's needs as | to complete his course in three years and thus deprive the crew of his prowess. | He served only a short apprentice- ship in the extremely dignified banking house on Devonshire street, in the | shadow of the Old South Church, and | within a year he was on Wall Street, associated” with Potter, Choate & | Prentice. On January 18, 1912, when | he was 23 years old. he bought'a seat on the Stock Exchange. Two years later he was admitted to partnership in the old firm of Cumings & Marckwald | and on May 12, 1916, this firm became Richard Whitney & Co. His conquest of Wall Street was in- terrupted by the war. Jack Hallowell, one of the best loved Harvard men of | his generation, had been selected by | Mr. Hoover to assume general super- vision of all State food administrations, and he reached into Wall Street to| pluck the young senior partner of | Richard Whitney & Co. He demurred. | He preferred a more active part in the war, but the great men at Washington | told' him the best soldier was the man | who took orders. He took them for | two years, returning to Wall Street in 1919 'to be promptly elected at the age of 31 as a member of the governing board of the exchange. From that day his advancement in the esteem and in the affections of all his associates has been rapid. When he was named as vice president in 1928 everybody knew that through certain solemn processes he would eventually emerge as the prestdent. Keeps on Move Always. Last year the governing committee| intrusted to him the chairmanship of | the committee on business conduct, as successor to the late Winthrop Burr It 15 a position scarcely second in im- | portance to the presidency, for its in-| cumbent, is charged with protecting the ne of the exchange from the | ations of unscrupulous men. exchange functions largely ittees of this sort, and has been a member of them in recent years that yme_almost a siranger to closest friends. If you should walk into 18 Broad street some | morning at 9 o'clock and inquire for | him—and your errand seemed fairly im- portant—the telephone operators would | start the hunt. Now and then they| might get a report that he had just been seen crossing the floor, that he had just left the directors’ room of the Corn EX- | change, that he is expected at his own office in 15 minutes. But you would be lucky indeed if you were able to corner him by noon. The telephone company boasts that its service is instantaneous, but as yet it hasn't_discovered how to ) abreast of “Dick” Whitney It would not be fair to Mr. Whitney | however, to picture him as a man de- voted only to the business of buying and selling securities, of launching new in- dustrial enterprises, of conferring with | other men of mighty affairs on under- takings which affect America’s destiny | Passing in and out of 18 Broad street | for the greater part of 20 years, he has 50 many of > has ‘whnt is good he is a crusader. Toward | By C. PATRICK THOMPSON HILE Mahatma Gandhi'’s cou- | rier was on the road to Delhi | with the celebrated “ulti- | matum” to the viceroy, that | tall, lean Englishman was bidding a dignified farewell to the Cham- ber of Indian Princes; and by the time | the Great Soul began his march to raise | the standard of civil disobedience in the great salt areas of the Gujarat, | most of those princes had arrived back | in their respective states—there, amid | their wives, concubines, native premiers, | English private secretaries and politi- cal agents and private army comman- ders, jo watch the progress of this latest challenge to the authority of the para- | mount power (as viceroys scmetimes officially describe England). Signficant phenomena, worth noting in connection with developments to- | day and tomorrow in the sub-continent which_the viceroy rules on behalf of | the British government and King George V, whose titles of royalty in- | clude that of Emperor of India. They range, the independent native chiefs, from opulent and constitutionally | minded Maharajas who shave with | American safety razors and compute their revenues in millions of dollars, to petty frontier chiefs who do not shave at all and count their income by scores of rupees; and in the aggregate they rule over one-third of the terri- tory of vast India and count as their subjects one-third of India’s 300,000, 000 _souls. | Theirs is the India of romance, mystery and all one’s story books. The great treasure chambers, the state camels and the red-painted, gilt-tusked elephants of state wearing necklaces of gold mohurs and massive gold anklets incrusted with jewels; the sacks of pearls and rubies, the dancing girls and grand viziers, palace intrigues. grand amours and sudden death: the magnificent host who takes you on tiger shoots and (if you are of suffi- clent importance) garlands you with those ribbons called hars, which are spun from pure gold and plaited, these all belong not to British India but to the India of the Native States. BY HENRY W. BUNN. HE following is a brief sum- mary of the most important news of the world for the seven days ended April 26: e GREAT BRITAIN.—Robert Seymour Bridges, poet laureate of Great Britain since 1913, is dead at 85, less than six months _after the publication of the poem which many regard as his best work, namely, “The Testament of Beauty.” He was a poet of very gen- uine distinction, though not of the first rank. Not improbably his extensive and interesting prosodical experiments will be tyrned to account by mere brilliantly gifted successors. He had the gift, rare in poets, of non-expression when not impelled by the muse. Sharply criti- cized, especially in Parliament, for not complying with the general demand for an “Ode to Peace” at the end of the war, he said: “I do not care a damn.” For this alone he would deserve the bays. He was the sixteenth poet laureate, & post held by a number of infinitely petty songsters, but also by Ben Jonson, Dryden, Wordsworth and ‘Tennyson. Flying from Marseille, on April 25, the Prince of Wales arrived back in London from his African hunting trip. FOW R FRANCE.—The London naval treaty was signed on April 22. Italy and France join with the other powers in the “capital ship holiday” to 1936, ex- cept that they are permitted to build the battleships which, under the Wash- ington naval treaty, they were author- | ized to lay down before the end of 1929 We hear that under this provision France will proceed immediately to con- struction of a battle cruiser of 27,000 tons to carry-12 eight-inch guns and to be “incomparably superior in every | respect to the Ersatz Preussen; this pro- cedure resulting from the recent action {of the Reichstag (reversing a previous authorizing _construction of a second vessel of the Ersatz Preussen type. The French vessel will cost about the equivalent of $20,000,000 and will be about three years a-building. s vote), The second quarter of the fiscal year went Off RUSSIA current Russian more proseperously than the first quar- ter, especially in respect of ofl, metall- urgy and coal. A resemblance to chaos resulted temporarily from the Krem- lin's modification of its farm collectivi- zation program, but the Russian seems to thrive in conditions of helter skelter and “much admired confusion” The colleetives of extreme communistic type are being modified into “artel” collec- tives, property of their own, such as chickens and pigs, and the concession. however petty. makes all the difference in the world as regards the peasants’ attitude When the Kremlin recognized what a dangerous volume of resentment com- pulsory membership of the extreme type collectives had caused, it issued orders allowing withdrawal therefrom, and the privilege was generally embraced, but most of the withdrawers are said to be formed lasting friendships with asso- | ciates holding down the humblest as well as the most exalted of Stock Ex- change jobs. For 10 years he has been the most enthusiastic supporter of ath- letic teams which are formed among exchange employes. He is never too busy to attend their field days or to oot _at their base ball games. And at | (Continued on Fourth Eage.) joining the “artels” We hear that | Spring sowing is proceeding satisfac- | torily. | ko | INDIA —Disorder again in India on April 19. Insurgents raid and gut the police arsenal at Chittagong in Bengal and kill seven persons, including two Englishmen. Lord Irwin, viceroy of India, invokes a Bengal ordinance, con- {a few THEIRS IS THE INDIA OF ROMANCE AND MYSTERY AND ALL ONE'S STORY The British know how to manage| It took a high official, dispatched in them. They encourage their sporting | haste from Government House, to pacify activities—sport is an outlet for phy- | the indignant potentate and get him sical and mental energies which might | back. The 19 salutes had been there, otherwise find relief in politics. They |but one was defective and had failed rant them salutes of guns, bestow |to go off. That, at least, was the offi- knighthoods upon the most important, | cial explanation, and as _the full dmit dutiful Maharanis to the | bangs greeted him when the Prince re- Imperial Order of the Crown tyrned, he accepted it with dignity. The Story the | blocks the way to a police sergeant which allow the members some | ang during the minority of prince obligingly appoint a regent in the person of a “Kipling man"—one of those industrious and dutiful public school educated upper middle class men who administer the British Empire for small pay as officials in the cival ser- vice. At Delhi, seat of the government of India, they preserve for the ceremonial visits of ruling princes a state etiquette which is more rigid than that m any European court boasting the traditions of a thousand years, for your Indian chief is a glutton for ceremony 2nd keenly watchful for slights, real or un- intended, betrayed by omissions, in the mtual. It is recorded that on one occasion the Viceroy and his little court were drawn up in the throne room at the palace at Delhi awaiting the arrival in state of a powerful ruling Prince. A clatter of hoofs was heard outside. The great man had arrived. The Viceroy rose as the first gun of the ceremonial salute went off. But no Prince en- tered the marble-pillared chamber. What had happened? An agitated aide rushed in to explain. This Prince was entitled to a salute of 19 guns. Very jealous he was of that salute, and had stayed rigidly at atten- tion on the threshold of the palace counting the explosions made by the guns of the battery specially drawn up in the courtyard before the palace. There were only 18! The Maharaja waited a full minute. Not another bang. “Eighteen!” he exclaimed to his dewan, a bezarded old warrior, who stood at his back. “Eighteen,” confirmed his chief minister grimly. The outraged Prince about-turned and leaped into his carriage, which, at a fierce order from the dewan, rattled off. | ferring extraordinary powers for sup- ! pression of disorder.” Troops and police are sent in pursuit of the raiders, who had cut the telephone and telegraph wires to Calcutta and blocked the rail- road by derailing a train. At Calcutta the government rounds up Nationalist leaders. Mohammedan leaders mani- festo in favor of the British authorities. “Untouchables” unsympathetic to Gandhi. to have been the work of anarchist: exploiting the conditions created by th Swaraj movement On the twenty-second a serious situ- ation develops at Madras, a vast mob demonstrating violently, but it is han- dled by the police (with a show of troops in the background) most admi- rably, with the result only of a few broken heads. A flare-up on the twenty-third at Peshawur, in the northwest frontier province near the Afghan frontier. An armored car manned by two soldiers is patrolling through the city counters a wild mob. The latter pour buckets of gasoline on the car, apply flame, and the soldiers are burned to death. Elsewhere in the city a mob on a motor cycle, hacks him to peices with hatchets, Gurkha troops are rushed into the city. Several of them having been hurt by bricks hurled by the popu- | lace, they fire, killing 20 or so, wound- ing many more; the mob disperses, the trusty Gurkhas patrol the city. The same day a detachment of troops | sent in pursuit of the Chittagong raid- | ers overtake a party of the latter num- | bering 30, kill 7, wound 5, the rest escaping. On the other hand, while four Hindus suspected of participation in the raid are being searched, they whip out revolvers, wound five of their cap- | tors and make their escape. On the twenty-fifth, at Diamond | Harbor near Calcutta, a detachment of police sent to prevent illicit manufac- ture of salt are attacked by a good sized mob with sticks and stones, At last they fire and the mob disperses. As they used buckshot and fired low, the casualties are not serious. | All British women and children are | being evacuated from Peshawur. | " Arrests and_jail sentences for viola- tion of the salt monopoly continue nu- merously. The Bombay correspondent of the | London Times declares that the Gandhi movement has increased “phenomenally” within the fortnight. Note the country-wide distribution of the disorders—Madras, Calcutta, Chit- tagong, Poona, Karachi, Peshawur. Ah, whither, India? * ¥ % x CHINA—Gen. Chang Kal-Shek is said to have 46 German military ad- visers on his pay roll. Some of the uidnics will have it that they are in sense German commercial agents also, diverting to German firms purchases and contracts of the Nanking govern- ment. Are they the advance agents of a new Drang Nach Osten policy? In May last year Col. von Kriebel succeed- | ed Col. Bauer (of old one of Luden- dorfl's ablest lieutenants) as head of | the German group. The air unit of the Nanking army is led by Lieut. Fuchs, | & German war pilot. A Maj. Hummer is réorganizing the gendarmerie at Nan- king, and German specialists are di- recting in the arsenals of Nanking, Hankow and Shanghai. All of the new machinery in the arsenals under Nan- king's control is of German make. We hear, too, that more and more Chinese The Chittagong affair appears | and en- | in strength | | Impressive Figures. | 1f you want to view the Princes in | full dress and in quantity, you shéuld g0 to one of the Vice-Regal investitures, held periodically in the great ball room— | equipped for the occasion with massive | gilded chairs of state standing on a golden carpet on a raised dais with a scarlet and gold canopy—in the Delhi palace. There you will see 40 or 50 chiefs and ruling Princes: among_them, per- haps, the Maharaja of Kapurthala, | with ' his tiara of enormous emeralds and his famous jewel-hilted sword; the tall and magnificently impressive Ma- | haraja of Bikaner in the pale blue | robes of the Grand Cross of the Star | of India over a white uniform; the Maharaja of Patiala in his famous | brocaded coat studded with diamonds, | |and wearing the historic French neck- {lace which was once an item in the British crown jewels (King James I slipped it into his pocket when he fled to France), and the Maharaja of Gwalior, descendant of the slipper | bearer to the Balaji Peshwa at the be- |ginning of the Eighteenth century, | wearing his quaint scarlet Mahratta hat and girded with a diamond hilted sword in a pale mauve velvet diamond studded scabbard. These men and their like rule the most vigorous elements of the conglom- | eration of tribes and sects which make | up vast India. With few exceptions they are the descendants of great war- riors, and their subjects have great fighting traditions. Until the British came and estab- lished the pax Britannica, every chief fought with his neighbor; and you got situations like that which used to exist in the peninsula of Kathiawar (a coun- try almost the size of Ireland and in- Week Has Tol(flf | cadets are being sent by the Nanking government to Germany for instruc- tions. It is understood that most, if not all, of the Germans employed as per above are unreconstructed monarchists. The present German government may, in a manner of speaking, admire (as many | of their old allied enemies might do)— | may even, despite themseives, feel a certain pride in—the achievements of \diers of fortune, but they ca approve their activities. , the latter may prove boomer- angish, as happened with the Russtans Japan has conceded tariff autonomy to China, thus rounding off recognition by the powers concerned. [ P ARGENTINA —Argentine exports over January and February declinea in the value of $55,228,000, or by 29 per cent, | i the comparison with the correspond- ing two months of 1929, the main cause being a tragic crop failure. By the | same token, of course, buying power de- | clining, imports fell off correspond- | | ingly—indeed, more so. Over January | | and February imports from the United | | States fell 36.6 per cent in value, com- | pared with the corresponding period of | 1929, the February fall being 45 per | cent, February imports from us total- | | ing only $10,638,000 in value, as against | | $19,394,000 for February, 1929, | . | LONDON TREATY.—Among inter- ' (esting detalls of the treaty are the | tollowing: 1. An aircraft carrier is defined as |any surface vessel of war specifically designed for carrying and launching |aircraft. The placing of a landing or | taking-off platform on a capital ship, cruiser or destroyer, provided such ves- sel is not devoted exclusively to air- craft use, shall not put it in the cate- | | gory of aircraft carriers. However, no | existing capital ship may be fitted with | an aircraft platform. Aircraft carriers |up to and including 10,000 tons may | not_carry guns of greater caliber than | 6.1 inch 2. Submarines may not exceed 2,000 tons in displacement nor carry guns of | greater caliber than 5.1 inch, except | that each of the five powers may have three submarines as large as 2,800 tons carrying guns up to 6.1 inch, Prance may keep one submarine of 2.880 tons carrying 8-inch guns, and existing sub- marines not exceeding 2,000 tons in dis- | placement and carrying guns larger | than 5.1 inch may continue to carry | those guns. 3. Craft exempt from limitation— | Those of displacement not exceeding | 600 tons; those exceeding 600 but notu exceeding 2,000 tons, provided they do | not carry guns of caliber greater than 6.1 inch and do not carry more than four guns above 3 inch, cannot launch | torpedoes nor make better speed than 20 knots, and some special types. | 4. Cruisers are defined as ‘surface vessels of war other than capital ships | or airplane carriers exceeding 1850 tons in_displacement_and_carrying guns of | caliber greater than 5.1 inch. Cruisers are subdivided into two classes, those | carrying guns larger than 6.1 inch and those carrying guns not larger than 6.1 inch | 5. Destroyers may not exceed 1,850 tons in displacement, nor carry guns of caliber greater than 5.1 inch. Not more than 16 per cent of the destroyers of any of the signatory powers shall ex- | ceed 1,500 tons in displacement and not | more than 25 per cent shall be fitted with landing decks for airplanes. | | | | came the British of Bombay and made BOOKS. | cluding 180 different states), where in | pre-British rule days the only quiet time of the year was during the annual | invasion of the Baroda Mulukgiri Army, when local feuds were suspended and |the warring chiefs united for the moment to oust the invader. The way | this country came under the sway of | the British' Raj is illustrative of the economical methods employed by the British empire builders in the old days. The Peshwa of Poona used to levy an annual tribute on the chiefs of the Kathiawar country. Then the Gaekwar of Baroda made a deal with the Peshwa to collect the tribute, making a substan- tial addition for his trouble. Then in a deal with the Gaekwar in their turn to collect the aforesaid tributes. A colonel with a small British and Gaewar force called on the tribute paying chiefs | and settled the tribute to be paid in perpetuity, after which the Gaekwar signed an agreement transferring the exclusive management of his tributaries | to_the British government. | The British now came in for a nice| little tribute, amounting to three times | the tribute enjoyed by the Gaewar of | Baroda. And for all practical purposes | this settlement holds good today and constitutes Britain's legal title to the overlordship of Kathiawar. ‘The Rajputs of this country are stout fighting men and good sportsmen, friendly to the English, contemptuous of | the politiclans of British India—those talkers who have no fighting traditions at their back. The prince of the big-| gest state is Jam Saheb Sir Ranjitsinhji, celebrated in England as a cricketer— “Ranji.” the English crowd calls him. “Ranji.” a prince entitled to a salute of 15 guns, has been a pillar of the Cham- ber of Princes, and on more than one occasion has represented India at the League of Nations. The viceroy holds the monopoly of the installation of ruling princes. The occasion is one calling for the utmost pageantry. The viceroy goes up to the | state and performs the ceremony in the | ruler's palace. Sometimes a bit of grit | (Continued on Fourth Page.) | { 6. Should “the requirements of na- tional security” of (Great Britain or the United States or Japan), be, in that power's opinion, “materially af- fected by new construction” (by some | power other than the three named), that power will notify the other two | in precise detail “as to the increase re- quired” and “shall be entitled to make such increase. Thereupon the other two powers shall be entitled to make | proportional increases.” This is the | safeguarding provision for Great Bri-| tain’s behoof against the possibility of substantial construction by France or Ttaly or both. 7. The provisions “for the humani- | zation of submarines” declare, in gen- | eral, that “submarines shall conform | to the same rules of international law | as govern surface vessels,” and spe-| cifically (that there be no loophole of | evasion), that “except in case of per- sistent refusal to halt or of active re- sistance, a submarine, as is the case with a surface vessel, may not sink a | ship without rescuing the crew and pas- sengers.” EEE NOTES—Mgr. Ignaz Sepel has re- signed as chairman of the Christian socialist party of Austria. It is ex- pected that he will nevertheless carry on the battle against socialism more fiercely than ever, more effectively. per- haps, as less trammeled, less obligated. Austria has three parties of the right— the Christian Socialist, the Pan-Ger- man and the Peasant. On April 22 the board of directors | of the New Bank for International | Settlements met for the first time at Basle, Switzerland, and_elected Gates W. McGarrah of New York president of the board and Plerre Quesnay of| France managing director of the in-| stitution, whereof so great hopes are | entertained. And now here's Egypt acting saucy. A measure is offered in the Egyptian Chamber of Deputies proposing a duty of 60 per cent ad valorem on all American imports into Egypt, should our new tariff act be found to contain the duty on long-staple cotton proposed | by the bill in its present form, a rate likely to exclude Egyptian long-staple cotton from our market. It will be recalled that the Haitian Council of State refused to_appoint Mr. Eugene Roy temporary President of Hait{ as provided for in the agree- ment between President Hoover's com- mission on the one part and President Borno and the Haitian opposition on the other, and that President Borno in consequence ousted 12 recalcitrant councilors and substituted others. The reconstituted council made the ap- pointment. - Mr. Roy is to serve as tem- porary President from May 15 until a new Legislature elects a permanent President later in the year. By a vote of 47 to 36 our Senate has turned down a proposal to repeal the national origins clause of the immigra- tion act of 1924, which clause became | effective July 1 last. Japan Follows U. S. Lead | In Reducing Note Size| Following the example of the United States, the Japanese government, through the ministry of finance, has | type of adjustment pays | &rt Superintendent of Public Schools in Detroit ODERN business is recognizing today more than ever before the wide differences among people, and is tending to treat every case in terms of its par- ticular needs. Thus, for example, the able insurance salesman uses a method of attack conspicuously different from that usad by the insurance salesman of years ago. No longer does he have a favorite policy which he tries to sell to every one. Instead of this, he learns all that he can about the pros- pect and then helps the prospect select the particular insurance policy which will fit his needs best. The 30-year-old mechanic with his wife and three small children is dealt with differently from the unmarried stenographer of 22 with no dependents. The competent insurance salesman ob- | serves the differences among people, and | prescribes for each particular cas Another instance in business is the | case of selling women's hats. Surely | here, if anywhere. individuality has been recognized and adjustment made in so far as_ possible. What woman would buy a hat knowing that 10,000 others of identically the same pattern and color were being sold in her city that same week? Salesmanship Improved. Modern business has found that this ance salesman who meets the special needs of his clients sells more insurance than the insurance man Wwho attempts to sell the same policy to every one. The millinery clerk who senses differ- ences in women and who Intuitively and in the long run receives a larger pay check. Here, as elsewhere, the things which work tend to become generally accepted. Individual differences are not re- stricted to the fields of insurance and of women’s hats. They are found to exist almost everywhere in the natural world. Not the least obvious of these individual differences are those among children. Parents See Differences. Every parent with more than one child knows from experience how unlike different children are. is to hear a parent say, “I just can't understand why Helen is so different from Lucile. Lucile is such a quiet, studious, gracious child. Helen is as different from her as day from night. She refuses to study. She disrupts the teacher. She is noisy. stand how we could have two children so_different. it be parent or teacher of social worker. is conscious of the wide variation in their characteristics, abilities = and interests. ‘What parents find true in the hom= teachers find true also in the school Of course, children differ in heigl ht and other physical attribut y differ in their mental endow- ments as well. Some are by nature rapid and accurate workers: others by nature are slow and inaccurate. Fur- ther, children differ in emotional con- trol. Some are high strung and nervous in temperament, while others are calm and even-tempered. Varied Methods Used. These three types of differences in children—phy:ical, mental and emo- tional—affect greatly the school per- formance of the child. ~Thus, within a singl> class, one child may read at the rate of 120 words a minute, while another may read at the rate of 240 words a minute, yet remember as large a proportion of what he has read as the first child. As a_consequence of | these facts and others like them teach- ers generally are dealing differently with different children, just as parents have learned to do. The whole organization of schools in the last century is evidence of the growing recognition of individual dif- ferences. The system of grading chil- dren into first, second, third and higher grades is a device to put together the children who are most like each other. The inadequacy of the adjustment through grading alone, however, is almost incredible to one who has not | looked into the situation carefully. Differences in Class Cited. Among schoolmen it is a matter of common knowledge that, for example, a typical fourth-grade class in reading in practically any city in the country probably includes a number of chil- dren who read no better than average third-grade children, several who read no better than average second-grade children, and occasionally one or two who are no better readers than ordinary | first-grade_children. At the same time this fourth-grade class probably includes children who read as well as average fifth graders, others who read as well as average sixth graders and perhaps one or two as high as even eighth or ninth graders. Thus the class ranges in ability from first or second to eighth or ninth grade. What is the teacher of such a class to do? Obviously there is but one thing. If she is to discharge her duties to the maximum she must give to each child the particular kind of help he needs. Classified by Grades. Classification into grades was the first step taken in adjusting to indi- vidual needs. The next step, now being taken in many school systems, was to classify the children in each ade into more homogeneous groups. But even this does not meet the prob- lem adequately. Students of children are coming very generally to the belief that there are no “natural” groups, no hard-and-fast pigeonholes into which children can be placed with assurance. The more we know of children, the more we realize that there are no sharp lines marking off one group of children from another. There is, rather, a continuous change in any given trait. There are no sharp lines of demarca- tion except those which are set arbi- trarily between tall children and chil- dren of average height or between chil- aren of average height and short chil- dren. The “myth of the type” has been pretty well exploded in child study, as well as in most of our other social sci- ences. Learn Child to Teach Him. Classification devices have proved to be helpful in meeting the problem of differences in children, but can scarcely be said to have solved it. The ten- dency now is to make more basic ad justments to individual differences in every phase of the teaching process. Evidently the first task of the school is to discover the characteristics and needs of each individual child. As a consequence, the modern school devotes a larger and larger part of its | time and energy to studying each child in order to know him well and thus be able to help him where he needs help. As is sometimes said, “We must learn the child before we can teach him.” On the basis of this knowledge of chii- dren, a number of fundamental adjust- ments are made in teaching. Flexible Standards Adopted. 1. The most important adjustment to individual needs made by the modern school is in standards. The modern school expects different accomplish- ments of different children. From the most able it demands more than the announced revisions in the size of bank notes. These wil be smaller, will be printed=on better quality paper, and be much hardery to counterfelt. one standard for all which was char- acteristic of the old-fashioned school. The insur- | suggests the headwear which is just | right for each -voman sells more hats | How common it | I can't under- | Every one who knows children, whether lower standard | Similarly, in the case of the pupil with specialized ability in one fleld, | more is required of him in that field | than in other fields. Different standards for different chil- | dren is the most basic and most far- reaching modification which our newer knowledge of children has brought about in the conduct of schools. School people no longer consider it wise or fair to hold all pupils up to one and |the same standard, a standard far too |low for the talented and too high for | those who are slower or dulled. The | standards set by the modern school are adapted to the needs, interests and ca- | pacities of the individual pupil in that | school. Time Adjustment Made. 2. A second important adjustment to be made by the modern school is a time adjustment. an adaptation in rate of work and in scquence of tasks. Courses in arithmetic, *spelling and other school subjects 50 years ago were organized to require the same amount of work in the same amount of time from all pupils in a given grade and subject. Further, the items of the course were to be mastered In the same sequence by all_children. Greater knowledge of children has shown that pupils differ in the amount of work they can do in a given time. As a consequence, the modern school tends to do either of two things—it | allows the amount of work required of a particular student in a particular field to vary in terms of his capacity and | needs or it allows the amount of time | which he is enabled to spend upon it to vary. Order of Presentation Varied. In like manner, the modern school permits much more variation in the order in which topics may be presented. The logical order is more frequently modified now than formerly when it can be shown that for a particular child some other sequence is likely to be_more effective. 3. Modern type of individual adjust- | ment frequently found in the modern school is the variation in the subjects offered the different children. The elec- tive system in high schools and colleges is now taken for granted, but 30 years ago there was a hard fight to have it | accepted. We now assume that a girl who must | stop school in the tenth grade in order to help support her parents needs, and | should receive, a different type of school | instruction from that needed by the girl who plans to complete high school | and college before going to work. Elective System Helped. The whole elective system, while pos- sessing some disadvantages, of course, nevertheless has been a notable ad- vance on the part of schools, because it signifies a better adjustment to the | needs of different pupils. | Not only is there an opportunity for students to select the types of school » | experiences which fit their needs best as regards the larger divisions in sub- Jject-matter, but also there is consid- erable evidence of an effort on the part of the modern school to provide for ;‘ariation within each particular sub- | Ject. | For example, the ninth-grade teacher |in history may be endeavoring to help { her students appreciate the significance ‘o! the industrial revolution. She will | use the same sort of experience for all pupils as provided in the text book, but she is much more likely now than formerly to have individual pupils ex- tend their experience on different top- (ics along the lines of their own par- | ticular interests. Individual Study Assigned. | Thus, the son of a dentist may be | encouraged to look upon the effects of the industrial freedom as it influenced | dentistry. The girl who is clerking | evenings ‘and Saturdays in a shoe store |and who aspires to management and | ownership of a shoe store in later years may be guided similarly to read about the industrial revolution as it affected | the boot and shoe industry. 4. Adjustment in method is the | fourth type of adaptation made by the | modern school. Up to relatively recent years most educational workers assumed |that there was a ‘“one best method” | for doing any particular thing in the school room. Increasing knowledge of children and of the conditions of mod- | ern life reveals that different methods of learning may be appropriate for dif- ferent children under different circum- | stances. | In one section of Detroit we have & number of children of so little abil- | ity that they find it very difficult to master arithmetic by the usual meth- |ods. Whatever is done by the teacher, j:hese particular boys and girls appar- |ently return to the method of count- | ing on their fingers or with their tongue |or in some other manner. Experiment in Arithmetic. Our supervisor of arithmetic is now | carrying on an experiment to find out whether or not certain of these boys |and girls may not be helped most by the teacher when she gives them better | way of counting. The assumption is | that these particular children will count anyway, and therefore the teacher should help them to count in the most efficient way ible. The school of today is tending to put less emphasis on methods devised and controlled entirely by teachers and to put more emphasis on those methods of learning which may differ somewhat drom child to child, but which are adapted better to their individual na- tures. 5. The modern school adjusts better to individual needs through modifica- tions in the ways of using instructional | aids of various sorts, such as text books, | work books, job sheets, and so forth. The teacher in the modern school no longer assumes that learning verbatim the contents of one particular text book is the best possible activity for all the 45 boys and girls in a particular class. Child Helped to Teach Self. She tries, rather, to provide a variety of books on a reference basis, and in some cases to supply three or four or five different text books. In addition to this, she frequently devises self-in- structive materials which enable each | child to use his own powers as far as possible in teaching himself. A class at work in a modern school room where individual adjustments are being made presents a very different | picture from that of a class of 50 years |ago. A visitor going in today usually will find all pupils busy working on ac- tivities of different sorts, perhaps, but in every case adapted to the need of the individual child. Much less time than formerly is spent in formal recitation or in talking by the teacher. The classtime is devoted to learning, chiefly, rather than to recit~ ing upon what has been learned. The general impression obtained by a vis- itor to such a room is not unlike that which he would receive from looking in on a library or a large office. Pupil's Background Sfudied. 6. One very important type of indi- vidual adjustment which must not be lost sight of is that made by the teacher herself. The preceding discussion has been concerned with other elements in the educational process and has made little mention of the teacher. The teacher’s position, however, in this new endeavor to meet individual needs is of even greater importance than formerly. She is the leader in her little colony of learners. She passes her time in learning the strength and weaknesses, the interests and purposes | From the least able pupils, those en- dowed with less than average ability, and the home and social background of " (Continued on Fourth Page.)