Newspaper Page Text
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THE SUN, SUNDAY, JANUARY 26, 1918.
NO MONEY TRUST
I'nj" lii(iiir,v Valuable in
."Mtuiii Hie Views (f
HINTS KOI? MOW lAWS
Mjiii.v Connrpssmon Say Cur
ii'iH'x System Is to
Ilia me for Ills.
CRKD1T IN II AN" MS OK KKW
( iMopviitivos Contend Coiihmi
l rfi I inn Is Sclf-Dcfnicc
Mtvc of Hankers.
Imported Model Gowns
FOR EVENING WEAR. Values up to $:',,.0f)
FOR AFTERNOON AND EVENING WEAR.
Values up to SISt.OD
SMART FROCKS of Char incuse. Gnrflish
Corduroy and Velveteen. Values up to $15.00
OPEN FRONT FROCKS of Imperial Scrtfc-,
Values up to $.J.00
Latest Model Gowns
and Blouses for South
ern wear, oj linen, ba
tiste, chiffqn, voile and
crepe dc chine
very reasonably priced.
27 West 46th St.,
If they nerc Imprudent they could not
, lnp stirvUe.
, ... i "It ull depends upon the' Individual
U Hisuros. .Inn. J.,.-rhe conclusion nmn,.. sa!(1 Mr ,. ..AU .lL.,.,
I. the INijo committee of the Jim part por..ona, un(, Ulc m!n,, ftm, onn.,crnce
..f i. n.Ktle.l..n and possibly of the of tno oImm.,Ul, m.ln , nr..
entire inquiry l.rm.Kl, the .piestlon . Bn,1R t0 ROVrri, ,;, ,
.i.i.ii ill. ill.. .-.wttin-.i lO-U.I.V Hlll'iriL'l illl
the fti- and mental tuimnll owr this'
mihteil tenlly hud been worth while i
The opinion cxpresTil by members
Vlevra of W'ltncftac.,
Mere are a few of the more Import
ant leforms and view suggested hy
important wltne..e before the com-
nf t'onntoss, conservatives aw well as
radical Itepiibllcnns as Uell as Demo
crats, uns that the InvestiKatlon wonM ln'jtrfl.
,icni m-muw ren it not a sntvil , ,, ,, ,, ,
f.oRw..lin..p,, th,,mtu,eUM. H. Jlml Xm'V nuK "or'.r,';:
the .imsenaties In (.nnsnsa. win. dlito ,,roiHs made l.v prniiiotei cm all
w. mi ini- Man nave acoiiieu imp lu i securities limed on the Stncll Kvchnni;
'ondotnhs sloel. manipulation tint
lotihts tin- practicability of I'mavn
itti'iuptlnc to pti.)'iit It hv statutory
n a money
trust Is poHlile. lint even If ull the
banks nr the country were under a
Not niun..ii to coinpitltloti. hut
of n inniiev trust, contended th.it the
lnqulo has Justified Itself alone In Mie
fact that It has afforded nn ntitinrtiinitv
lor tho country to obtain the Intimate ai'tnients.
vieus of men like .1. V. Mnrw,n. .laeob tr, l?1? ""m"c11. , ."'l!!:.
II Si lutf .lames .1. Hill and ti-orKe
Some members of Conijrejis ko so f.ir
n to h.i that the favorable insight favor eo.mei .itlon
uhlih the public was nble to eel Into' Condemns thn Idea of short r.plttlic.
Hie p. r.-;onallt of Mr. Monrun while , lmt lo"B "ol !""." hw " N possible
be v as on ,he u.tness stand In itself "r"" a law com
was surtlelent. to compensate lor many , VvK ruWrl publlelty of the assets
ot (be undesirable features of the In- ( ,,r nntlmi.it banlts. favors a slntute
inlr problbltlnc oflleers from partlelpathm
In umlerw i Itluu svmllentes ami the
'o Mimer TriMl Minvtn. oflleers and dlreetcus of banks from
TheM, Senators and Uepresentatlve h-irrowlnc from ihelr own Institutions.
, (,i ,.,, ..,.' ,lu i lavors allowiiiK nntlonat banks to
bw'ied tli.' fact thai there is no money
trust b"t that there has been, as everv.
body realized before the Inquiry becan.
partleipate In the umlei u ritlnK of
buiiils, but not In the unilerwrltlnn of
ivors leslslatton against tlie nc
a notable tendency toward eonee.ntr.i- miirliis of a mutmpoly throiiKh holding
tlon of credit anil hnnktiu: lesourres qi eomp.intes, tmt would not restrlet the
rci out ears.
The most radlejil of the Democrats
fforts or activities of the liidlvldua
Would leave tlie law of nature to deal
v. Ith Individual action, which lu Mr.
even are nlllinK to concede that the .L.,ffs opinion wouirt be a hotter sjs
eminence .iiidiioea ny me commuiee 1 'es
ii-.t warn nt the assertion that there U
j moiie trust In the commonly a. -
epTeri meaning of that term. Wlnqe
tern than could be devised by man.
Hill Oppn.es l.ritlsln I loll.
.lames .1. Mill: Opposed to leqlsla-
Mm ni.thals and conservatives iiUfr tion kiiiiiIIiik to minority stockholders
v,r tin- results of the Inquiry u on 11 lt:'1 rttr,t rej.re!.eniatioii upon
the .p.eMlon of the causes that have led '- ,",,il1r,ls of, hW,''' 1 "'lu C
.. ,, ,. . Inteistate coiporntlons. Miys ilio law
to tl. s centralization of nankin in- mMa ,, ,,', ,,,, ,)Ut w1kM a,,
"rwtM. I Ktcat ,,..,.
The radicals ascribe It to the selfii-h- Opposed also to any notion by Con-
uess and ambition of a small Kroup ot cress d sinned to wqpe out thv system
liowerfui hankers, who have soiiKlit to of Interlocking directors lu banklni; In-
eliminate competition and through a
Stitlltioll.S. Itelees llnie is a possb
vvstem .f csiporatlon to monopolize ' hjlity f some ,-ood tn legislation, but
'lotaiintis of security Issues throush
ut the l oimt-y Tills prob.-ihly lr, the
irue l' ii.mer. iteiiuv. s conreu
tratlon of n.iiMH ami credit In New-
Mew tie Democratic investicator" wi.i Yuik has none far enoucli Se.- a
'.iko In seeklna l Justify llielr efforts peril in the present system if It shotibl
md hi inukini; recommendations for fall into bail hands Does not bellew-
eJslatlon ; Klsl.itlon Is incessary. beeause an un-
Vhe conservatives In Congress, how- c'ur!OUVln7nSn?V!lriV.,lh,ilnB,,rnJl.
over, interpret the facts brought out hy Znnce
the committee as su.-talnini; the con- '"".Ka','isl any law coinpelllnt. public
tcntlnn that the concentration of recent ny of bank's assets or Interfering with
vears has been n move in self-defence the present synem of interlocking dl
hy the tiankers of the country; that ' rector?
jt has tepres-outed nil . flort on thil , ".oru- I'-rklim: Tavors K.deral
par- piotect themselves acalnst a dr- , .nrorporatloii of Mock ixcli.iiiges and
; . . , .. . . lu leM publ c t n recard to the is-
" ""treney system and that the ,.,. , ,, .,
lenijeiii innoi in naiieti iiiuo .ou
crns. striken at the root of the evil hy
I feller probably nlll appear befor the I'Mjo '
' eomni!tt"e some time next week In New
i York j
lie ix!tited out. however, that the exact i
date tm h's .lleiii's hearing Ins not et
been dellnlteh !lod un, I d.ild that he l" rtt
iriont carrylnR on n.-h-otlatlons lth
Samuel ftm .,., .j,,. oc.Mim.ttee attor-i
nev, Hirinllac tl' d,n !
I Meantime. Mi i ;,ir t deelared, he does
not know Mr liockefclU'r' e.ct where-,
"If he Is on hi way to New Vork." said
he, "I h ie not ben informed of the fai t. '
.,s a uuittcj' el fact. I don't think he will ,
le here fur sexnal ilaxs .mil Histblv not
until Jtut befoie the h. (ri1K I
JUDGE DENIES SELLING NAME, i
Itronkl.n i'imikii- Ailmll He-
iooslli(Ht j foe (.iiIi,
Wasiiiniitos, .tin L". l-:fforts were
made ut a nieet:m; (,f tl;.. House )ls
Slat Cominlite,. to.,i,y to tun i'i eaith
I lie orlKltl of a pen- of os-ip that
passed ampui! tiieml,ei ot t'onmi" that
.IiiiIm Ashley M i build of the Supreme
't'oilit of the I lt.it of Columbia sold
his name p an insniance uomp.iny for
!"..oi)0. JmUe tliaiM is an otllcer and
.stockholder lu the two companies belli,;
' invest iKUted
When ,hi(l;i' flould made the demand
for the name ot the man who had made
tho charRo at the Inqnlrv Itepresenta-
, live Itedlleld of llrooklvn ecl.ilmed:
"I am somewhat usponslble for that'"
It was hro'ichi out tint at a confer
ence in the oillce )f Speaker Clark
some months ni:o Mr Itedibld said
amonit other thlncs that he had heard
that .ludip- Could "hud sold his name
to the companies "
Kepresentative Henry of Texas, chair
man of the Kutes ''ommlttee, was pres
ent. He was called as a witness to-day.
Mr Itedtlelil etnleavot ed to make Mr.
Ilenry admit that .Mr Hedtleld had said
that Jurii;i Could re elved couqiensatinn
trom the insurance companies, tmt that
lothltiK was .said to the effect that the
Jurist had sold his name.
Mr Ilenry insisted that Ills recollec
tion was that Mr. Itedlleld had said that
j "Judge Could had sold his name."
Judi;e Could indignantly denlfd the
truth of the charge, insisting that he
merclj reieed lemuneration as an
"Hirer of the companies and dividends
I on his stock
J The si smi, n was a lively one and con
Isjileratlon of the matter will be tesutned
,bv I he commuter Morula.
I of national banks
enacting reform torrent-' legislation
some yrrr Ijitom Jtnrr,
Kaors smaller boards of direeiots
! foi banks and concentrated responsl
' Sees possible peril In concentration
. . , ., , , . .of banking reroun-s tr it is iiine
Ihnt some legislation aimed nt cmM- , ,llntPd nml rniMP..rls. d
ing practice is bound to follow the In- H.,llees It would be safe under Co-
qttlry is lertain .1 P. Morgan, Jacob eminent regulation
II Schiff and other Important wit-
lies.efi have agrei d readily ns to the
ikH Isjihibt v of rertaln reforms and Con
gress undoubtedly will accept the viws
('omntroller of the Currency Murray
Kavors compulsory publicity of na
tional bank assets, the passage of a
law putting Into effect the euniulatle
voting method In electing national
of these eminent bankct.M. The reformn ,,, u atrectorH.
In which they lm e subscribed, how-, luiieves in complete publicity of
eer. relate chlclly to tho application of stockholders of national banks
the publicity idea (is a preventive 1
against wrongdoing and are among the i Wonld .feord Depo.lior..
less radical of the suggestions I lmt Knvors tho enactment of a law safe-
have been thrown out by the commit
ter While the commlttee'H report Is fully
expected to contain n long list of sweep-
guarding depositors against the trans
fer hy responsible stockholders of na
tional banks of thetr holdings to It
lesponslble persons In order to escape
stock liability lieueves in limning ny
DISCUSS NEW APrRAISAL PLAN.
t'ollrelnr l.orli In Conference With
WashimiToN. Jan :.'i -William I.neb.
J: . Cnlle t'r nf the I'oit of New York,
'i.'rtrinan nf the board appointed sonie
fine ai;o to lnv-stlirato and reisjnmieu.l
hinges of th st..ni fi,!owfil by the
lioanl of general apt raisers of the rus
teins i-rrvlee. rainr t. V nhliiSton to-day
I, i a runferem un the subject with See
ret.ii .MaeW.ish of the Treasury
In tlie conferenre were William T pen
tiison. .peelal attorne of the Department
of .lusrie.e, and K 1 1 I'rankfurter. law
lerk of the War I i-parlmeiit. two others
m.nibi'is of the rniiitnUslun
They illv' iis. d with Mr MneVeaith the
ceneral rovlslons of a plan whlrh the
have drawn up for reforms In the work of
appra'sement at ports of entry. The re
tioit will not be made public until It Is
approved hy the Piesidfnt Today ron
fen nee was prellmlnaiy todiawlng up the
lejmrt In rompleted form for Mihmls!nn
to thn Seeretaiy, whlrii will Im about
NO ALASKA FISH LAW.
senator June. Cnn't tet an Aree
mrnt nr l.lrrn.e I'er.
ing tecommenilntlons, the fact Is not jnw (hH character of securities to tie
to be overlooked mat these will tie only n,;d nH collateral or assets ny national
recommendations nnd that It will he a banks.
long time before there will he any I Krnm the suggestions that have been
chance nt Incorporating the ptogramme t made In the course of the Inquiry it
Into the. statute, hooks. . seems certain that the committee will
As a matter nf fact, the tight will only include the following umong Its reenm
havn begun when the report of the . mcndatlon":
committee Is submitted to Congress. Compulsory Incorporations of stock
What will amount tn another invest!- i exchanges nnd adoptions of regulations
gallon In thi way of hearings beforti ' against manipulation of securities.
Congress will ho necessary and theto , Tills to be accomplished by the ' IVderal
is likelihood that legislation for a new 1 C.overnn.ent througH the rclse of I s
,, ,iu ,,i power over the mails and over the
-Failure to e.
transmission of quotations over the
Incorporation of the. clearing houses
of tho country with regulations which
malm any solvent bank eligible to
membership nnd which will give the
.Statu and Federal banking nuthnrlttcK
power to pass upon the action of the
A prohibition of the practice of the
Nw York Clearing House In charging
commissions on out of town checks
A law compelling a complete ills
closure by promoters of all prollts made
hy them on securities iisteu in im
before th" recommendations, of the I'ujo
committee are taken up for serious con
sideration. ,OOI Pace, nf Tr.llmna7,
The committee's record when It con
cluded Its preliminary inquiry yester
day overed nhoiit S.ono typewritten
pages In the record the fact thut Rtands
out most conspicuously is tho Im
poitancti which all the witnesses hae
att.'ichrd to tho Individual element In
h" consideration of the llnnnclal sltun-1 . Yorl. stock Kxrliange.
Unit and the problems Involved In It. ; pu publicity to assets of national
.1 I'. Morgan, Jacob II. SchlfT, Ceorpe mnks with tlie exception of loans.
F Raker, James J. Hill. Henry P. Davl- Full publicity of the stock ownership
-on and others nil Insisted that tho of national hanks.
eharacer and Integr.iy of the Individual .'"XM
weie the big factor tnd that without f,rwrittm syndicates.
Iiiso all the laws In Christendom prohibition against oflleers and direr--.Y"ii"l
be nf nn avail. Mr, Morgan In 'tors of national banks boi rowlnu money
efendlng Oie, system of Interlocking from their own Institution,
dlrec . rates contended that when tho The application of tle cumulative
,nd:vldual was honest he could be de- votlnit Idea so asln glvr, minor ty
pended upon to act independently and ill" Jlli "iltcrtluTof
horn stlv as a director and If he was not, l)ankH a, interstate corporations.
Imnesi ,ie would not bu a director long. q'n(, prohibition of the present close
Tn.' same was true lu regard to connections between national banks and
stoi l i "iilnd hy an Individual or a rlrm , security companies,
mrr on., or several banks. If tho In-, A prohibition against national banks
,r.i,. -'"' """" hoards of directors
niu control soon wouia inn ut itn own
'-Mr. fc'chlff believed In relying upon
the Individual Judgment and prudence
ot hank directors unhampered hy re
strictions of legislation. If they were
aelf-respectlng, he argued, they would
,ct according to their conscience and
etne legislation for the conservation of
the Alaskan fish supply nt this session of
'Concuss was admitted to-day by Senator
Jones of Washington Hearings weie
given last spring and (his month to tepie.
iseiitatlves of the Pnrlllc roast llsh packing
Interests and to tlsh biokets fiom New
I "We have heen unable tn get together
thus far upon a definite measure and It
Is now too bit" to serine iirtlon befoie the
'end of this session, bin l do not think
that s" Important a measure of conserva
tion W'll be much loncei delaed," said
I The llteme fee to he charged for each
variety of llshlng has been the obstacle
'to progress on the bill,
I . -. a v
DOUBT ABOUT P'o'KEFELLER.
Cnan.rl Say. F e )!) ilte I'ojn
Teatlmnny .Veil Week Here.
John A. On ver, William Rovkpfullci'a
attorney, laid lt night that Mr. Itocke-
I.a Grippe, Grippe, Grip, Influ
enza, or a hard stubborn or obsti
nate Cold that hangs on, or by
what ever name it may be called,
is broken up by Dr. Humphreys'
Don't wait till your bones begin
to uche, take "Seventy-seven" at
the first feeling of lassitude and
escape the pains and soreness of
the Head, Back and Chest, Cough,
Sore Throat, General Prostration
. ..I " lUhw . " o
It pays to keep "Seventy-seven"
handy, it is a small vial of pleasant
pelletF, fits the vest pocket. At
your nrup.RKt, oTic , or mailed.
IliimpbieS ' lion. co, UrUkluc Co., IM Wllllim
Hi., .New lork.
Lord & Taylor
For a limited time we will make
Tailored Suits to Order
From Special Models
At $55oo, $67.50 and $75o
According to model and material selected
Dresses to Order
At $65.00, $75.00 and $85.00
According to model and material selected
Advance Showing of
. W 'omen's Waists
Presenting the newest models in
Chiffon Cloth, Lace, Crepe-de-Chine,
Messaline and Washable Silk.
IFash Silk IFaists
Detachable coliar with plain front, or Gibson plait
in clustered or broad stripes, in white and colors,
$2-95i $3.95 & $450
values $5.00 and $6.00
Shadow Lace Waists
Button front with double jabot and 6atih 1
Robespierre collar, "with color introduced $J,ZO
Value $6.75 j J
IP as liable Crepe-de-Chine Waists
tailored or dressy models,
$450, $5.00, $5.05 & $6.05
Black & Colored Chiffon Waists
$3-95, $5.50, $5-95 & $650
New Spring Models in
Lawn and Batiste, yoke of embroidery and 1 rtP
Val. lace insertion J VC
Several Voile and Batiste models, trimmed 1 f T cn
with cluny, Val. and Irish laces J yOt
Sheer Batiste, attractively trimmed with
fine embroidery and Cluny lace medallion i $I.Q5
and Val. lace insertions J
Colors introduced in Voile models, with )
hand embroidered flat collar, lace $2.0 5
trimmed J VkJ
Sheer Batiste and Voile, real Irish lace yoke 1 rr
and lace trimmed collar and jabot I J'yO
Spring Dress Goods
Advance styles in black and colored. Spring
fabrics, showing many new and exclusive ideas.
Fine Tailored Serges
In black and navy blues, sponged and
shrunk, 50 inches wide.
Regularly $1.75 per yard
Imported Fine Black Broadcloths
54 inches wide, sponged and shrunk,
soft finish and lustrous.
Usually $3.45 per yard
French Dress Linen
8,000 yards 47-inch imported Dress
Linen in the Spring shades and white.
Usually 75c per yard
Unusual Values in
Imported Cotton Dress Fabrics
Fancy Figured Tissues
Embroidered and corded effect tissues
in white and colored grounds.
Usually 25c per yard
White Lingerie Batiste
38 inches wide, sheer and soft finished.
Special per yard
White Persian Lawn 1 2.
English goods. Special per yard I I
White Japanese Nainsook
42 inches wide. Special per piece
Closing the January Sale of
With Extraordinary Values
For Monday we include 2,500 Oriental
Carpets and Rugs just received which should
have been here weeks ago. To" dispose of them
before inventory we have marked them at
prices far below their value.
Best Quality Kirmanshah Carpets
Every piece carefully selected
$195.00 to $205.00
Actual values $375.00 to $550.00
Extra Quality Muskahad Carpets
$05.00, $1 10.00 &P $135.00
Actual values $145.00 to $200.00
$58.00 to $125.00
Actual values $85.00 to $200.00
Fine Persian Rugs
Actual value $65.00
Over 500 Choice, Silky hirvan
$15.00, $17.50 & $20.00
Actual values $22.50 to $30.00
Turkish Karahagh Rugs
Actual value $8.50
Two specially attractive lots of
$5.00 Sgf $u.75
Actual values $8.50 and $17.50
The January Sale of
Carpets and Domestic Rugs
(Continuing until February 1st)
offers splandid economies in standard, well
known floor coverings.
Mahogany Dining Room Suites
In the January Sale
At Greatly Reduced Prices
Solid Mahogany Suite
Sideboard 5 feet, with mirror back,
China Cabinet with full mirror back,
Extension Table (54 inch x 10 feet
extension) and Serving Table.
Plain Mahogany Sheraton Suite 00
4 pieces. . Regularly $190.00 ' J'
Solid Mahogany Colonial Suite v $roc 00
4 pieces Regularly $247.50 j 50 '
Dining Room Chairs discontinued Patterns
At Half Regular Prices
Colonial Mahogany Extension
' Dining Room Tables
25 to 33& Off
$26.50, $35-00, $60.00 to $975
Regularly $40.00 to $135.00
Bed Room Furniture
At $2750, $3250, $45-00, $4750,
Reg. $55.00, $45.00, $65.00, $70.00,
At $23.00, $25.00, $26.00, $28.50,
Reg. $42.50, $50.00, $40.00, $35.00,
Odd Toilet Tables
At $11.25, $22.50, $25.00, $29.00,
Reg. $22.50, $45.00, $37.50, $40.00,
Muslin Sheets and Pillow Cases
At 25 less than our regular stock prices.
Sheets Pillow Cases
63x 99 61c 1 42x3813 16c
72x 99 67c 145x3812 l?c
w on 73c' 50x3814 19c
90x 99. 79c
Broadway & 20th St.'; 5th Ave.; 19th St.