Evening Star Newspaper, September 27, 1935, Page 33

EXPERTS ASSAIL DAWES REASONING Prof. Bell of Northwestern U. Criticizes Method of Predicting Recovery. By the Associated Press. CHICAGO, September 27.—Econo- mists accepted Charles G. Dawes’ - vitation and began sniping today at the method he used in making his second prediction of economic recov- ery within a year. The former Vice President, who esaw his prediction of last December | that a sharp upward trend would take place in the durable goods industries fulfilled, last night said that ‘mass confidence once regained is not sub- | Ject to frequent oscillations.” Addressing a group of Illinois Lusi- | ness leaders, Gen. Dawes demonstrated with charts and graphs the course of | previous depressions in 1873 and 1893. He said there were striking parallels between them and the recent depres- sion and prophesied that ecoromic Tecovery was definitely under way. Called Blinking Owls. He invited “professional economists,” | referring to them as “owls who are bow blinking at the unexpected con- sequences that they failed to foresee,” to shoot at his conclusions. Accepting the challenge, Prof. James Washington Bell of Northwestern University said: “I do not believe we can make predictions on the basis of historical precedent without allowance for a great margin of error.” | Prof. Jacob Viner of the University of Chicago said: “Historical precedent is helpful in forecasting, but that alone is not sufficient. The Dawes theory would turn very sour in the face of drastic new laws or a general war.” | Gen. Dawes said the three depres- sions he studied each lasted five vears end nine months, that in each case upturns in the stock market began about 90 days prior to a similar rise in | the demand for durable goods and that in all three cases mass confidence ap- parently was restored suddenly, Warns of Overspending. The former Vice President also added a note of warning to his fore- cast, saying: “A present menace con- fronts a restored confidence in the governmental budgetary deficit created largely by the expenditure of borrowed money. As with the individual or busi- ness, a government destroys its credit by overspending and overborrowing. “If this Government does not gain better control of its budget and its eventual balancing becomes in the public mind a matter of continually) increasing debt, it will have created a condition which never in history has failed in time to cause a mass move- ment of the people inspired by fear | and followed by prolonged business de- | pression and social distress,” he said. FLYER IGNORES WARNING OF ICE ON OCEAN HOP Joe Costa Plans Flight With Father to Portugal to Sur- prise Mother. By the Associated Press. DANSVILLE, N. Y., September 27— Warned that snow and ice might weigh down the wings of the airplane and bring him to death in the North At- lantic, & young airplane pilot went ahead with plans today for a trans- Atlantic flight to Portugal to surprise his mother. The pilot, 26-year-oid Joe Costa, smiled away the grim warning from | Holger Hoirlis, Harbor Grace-Den- | mark flyer in 1831, and went ahead with the task of tuning up his plane. Costa, mostly self-educated in the ‘business of flying, plans to take his b4-year-old father, John Costa, with him. | Costa plans to hop off from New- | foundland and fly direct to Madeira, Portugal The Favorite of Modern Women! Wondersoft Sanitary onmen prefer these to because of the— o Patented Equalizer! o Inconspicuous Tapered Ends! o Sides Cushioned in Downy Cotton to ‘Eliminate Chafing! 20¢ - s ke 95c K. T. Commander ARTHUR M. POYNTON, KNIGHTS TEMPLAR TEAMS TO COMPETE Competitive Drill Will Be ]{elt‘ll at Field Day Exercises in ‘ Griffith Stadium. Uniformed drill teams from local Knights Templar commanderies will comnete in Griffith Stadium Saturday night when District Knights hold their annual field day, scheduled to begin at 7:30 p.m. Grand Comdr. Arthur M. Poynton and his staff, together with grand commanders from other jurisdictions, will be escorted into the stadium at 8 p.m. by Washington Commandery, No. 1, Edward A. Poynton, com- mander. Music will be furnished by | the Kallipolis Grotto Band, under Frederick Wilken. Judges for the competitive drill are | C. Ridgeway Moore, grand generalis- simo of Virginia; Edwin S. White, grand captain general of Maryland, and William T. Burnett, past com- mander of Baltimore. Following the drills there will be a dress parade under the direction of Charles D. Shackelford, inspector gen- eral, and Edward A. Poynton. The grind commander will present tro- | phies to winning drill teams and close the ceremonies with a review of all commanderies. 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TONIC ony..- 91 Makes rich. new Peoples Aspirin 60c (Bottle of 100) Jissolves instantly ind immediately relieves headache F:‘ ASPIRIA ! and other minor b pains. ) -t Counteracts Acidity Graham Milk of VEGETAL STAR, WASHINGTON, D. C, FRIDAY, SEPTEMBER 27, 1935. B—13 yesterday announced plans to unite | nouncemen’ charged, “has not regu- L|QUOR_DR|NK|NG TEST said that advising such expenmenu: MR SERVICE NON'STOP all “dissatisfied” its. ‘The “Constitutional Democrats,” re- buking the administration on grounds of *failing te adhere to “time-honored principles” and discriminating in favor of “persons of doubtful party loyalty,” Intend to “actively oppose” the ad- ministration. Z. H. Austin, announcing the organ- ization, sald the group seeks to reor- ganize the Democratic party, starting in Minnesota, and hold Government operations “strictly within the pro- visions of the Constitution.” “This administration,” the an- lated its activities in satisfactory ac- cord with the provisions of the Con- stitution of the United States, having drifted into strange seas of experi- mentatation without chart or known destination.” Ancient Public Utilities. The famous Babylonian code of the rates of hire of animals and carts, fixed the rates of laborers’ and arti- sans’ pay, but made no interference HIT BY DRY LEADER| Dr. F. Scott McBride Calls Ex- periments Like Aiding Reckless Driving. By the Associated Press. Dr. F. Scott McBride, head of the Hammurabi, 4,000 years ago, listed | Anti-Saloon League, advises against trying to find out how much liquor one can drink with safety. 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Good to the very 1 mops, last puff, was similar to counseling “automo- bile drivers to find out how near the edge of a cliff they can drive without CHICAGO, September 27 (#).— Transcontinental & Western Air has announced non-stop air service of three hours and 58 minutes between . “The task of th b e ~ Chicago and New York, eflective Sun= the casualties of drinking and drunk- | ¢ enness by education for moderation | 98Y- while the law permits high-pressure; The fest schedule planes will leave promotion of indulgence is as hopeless | Chicago at 1:10 pm. (C. 8. T.) and as Would be the solution of [nmc‘refich New York at 6:08 (E. 8. T.). problems by repealing #Il traffic laws, | Other Chicago-New Yok schedules dismissing all traffic police and merely | With one stop at Pittsburgh will make exhorting driveis to learn how far and | the run in 4 hours and 12 minutes. how fast they can go without acci-| The Chicago-Los Angeles run will dent.” | be cut to 12 hours and 26 minutes. 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