New-York tribune. [volume], April 30, 1919, Page 7, Image 7

About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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Schiff Terms
Loan as Best
Of Investments
Conversion Features Make
\ ictory Notes Specially
Attractive to Per?ons of
Wealth, Says Banker
$25,000,000 by Morgan
Eighteen More Towns Win
Honor Flags in Drive in
Second Reserve District
As a financial proposition, (he Vic
tory Liberty note is the most tempt?
ing that has been offered by a great
government, according to Jacob 11.
Schiff, head of the banking firm of
Kuhn, Loeb & Co.
The banker said that if the advan?
tages of tho Victory note as an in
vestment were generally understood,
the issue would forthwith be oversub?
scribed.
"The Victory Liberty Loan," Mr.
Schiff declared, "from a financial
710111t of view, is the most tempting
proposition that has ever been placed
by a great government of undoubted
credit and solvency before the investor.
It offers 4% per cent interest, free
of normal taxation, which, in com?
parison with corporate bonds, equals
something like 5!4 per cent. Quite a
number of high class railroad bonds
return considerably less income.
"People of very large income can
free themselves from all surtaxes, and
also from state and municipal taxation,
which in some instances take away as
much as about 80 per cent of annual
income, by converting the Victory
Loan bonds into 3Ri per cent tax free
bonds, and with the short time the
notes have to run (four years) a larger
decline in market value can hardly be
expected."
An analysis of the statistics for the
New York district follow:
NEW YORK CITY
T'er rnnt
Subscriptions Total for of
seventh day, Beven day?, quoin.
Manhattan , ..$13,755,000 $162,013,050 16.3
Brooklyn .... 450,650 17,088,900 28.5
Queeni . 86,000 1,002.300 14.1
Uront . 73.100 276,300 5.5
Richmond ... 15,750 248,900 15.2
N. Y. City*. .$14,387,400 $170,6:0,400 17
Subscriptions Total
Sub-district: yesterday. to ?late. P.C.
1 Buffalo _ $2,017,600 $8,074,250 12.3
: Rochester .. 625,050 5,573,800 17.0
3?Syracuse and
Utica . 627,400 4,457,550 10.2
4 Hiimhnmton
arifi Klmira.. 435,400 4.309,650 30.4
G Albany .... 1,333,600 0,046,450 17.3
6? Long Island
(outside N.
V C.). 281.500 1,574,750 19.3
7 Northern
New Jersey. 2,225,600 16,704,650 15.4
8- -Fairfleld Co.,
Conn. ; West
chester and
Rockland cos 649.700 3.583,550 13.5
Total outi-ide
N. Y. C... $8.195,850 $53,323.650 15.2
Total for
district ..$22.583,250 $223.953,100 16.5
District $301,016,900 Behind
Although the district should have
subscribed $525,000,000, it has actually
raised only $223,953,100. A comparison
of what the various boroughs of the
city have subscribed with what they
should have follow?:
Should vctual gub
be on Hcriptiona
$1,350,000,000. to date
Manhattan. $360,508,650 $152,013,050
Brooklyn. 23,277,850 17,088,900
Queens. 2,761,800 1,002,300
Bronx. 1,934,950 276*300
Richmond. 634,050 248.90C
Total N. Y. C... $389.107,300 *17O,629,450
The largest subscription announced
yesterday came from ,1. 1'. Morgan &
Co. The firm announced it would take
$25,000,000 worth of Victory notes, of
which $20,000,000 would be credited tc
this district and $0,000,000 to the Phil?
adelphia district.
Eighteen additional towns in the dis?
trict yesterday received honor flug.
for tilling 100 per cent of their quotas.
They are Triangle, X. Y.; Nanticoke,
N. Y.; Forestville, N. Y.; Bethany,
N. Y.; Berne, X. Y.; Xew Milford,
N. Y.; West Orange. X. J.; Peapack
Gladstone, X. J.j Everettstown, X. J.;
North Branch, X. J.; Mendhum, X. .1.;
High Bridge. X. J.; Arkport, X. Y.;
Xortb Litchfield, X. Y.; Madison, X. Y.,
and Hillburn, X. Y.
E. F. Albee, chairman of the Theat?
rical, Motion Picture and Amusements
Interests Victory Loan Committee, an?
nounced yesterday that subscriptions
received through his committee ex?
ceeded $3,000,000.
Veteran of Argonne
Tells Graphic Story
Of the Lost Battalion
A veteran of the Argonne, one of
"Xew York's own" held a huge crowd
in the Grand Central Station spell?
bound yesterday with the story of the
"Lost Battalion." He was Sergeant
Major Liner, of the 308t'n Infantry.
"We did not give up; we did not
get discouraged," he said, "although
we were five days without food or
water, SO that when a little rain fell
we were glad to scoop the mud up in
our fiats and squeeze it on our tongues,
"We did riot surrender. We were
just common, ordinary New Yorkers
like you with a job to do. We never
gave up, although our ammunition
xave out and we were shooting the
Germans with the ammunition taken
from the, pockets of their dead around
us in the woods, and although we wen*
?belled quit? **?- often by our own
artillery behind us as by the enemy.
"Are you folkn going to give up now
and l-t thin Liberty Loan go unpaid?
There are one million boys still on
the other side. The war will not be
?ver, and your job w,ll not be done
until ?.-very one of thonc boys is back
home. Buy bonds and bring the boy?
home."
?iergfant Major Liner was wearing
the Dit-.tinguished Service. Cross, which
he won for bearing the news of the
*%Mt Battalion'?" predicament back
to American headquarters. Many mem?
bers ot the 77th Division, who were
taking their first sightseeing trip
?round New York stopped in the
?rowd long enough to give their com?
rade a cheer,
?Jack R. Morton, ? marine who wan
W')undot) in Be I lea a Wood, and Hriga
fi'f General Charles A. ('o\f, of th.
*'/th Division, Were other speakers at
I?? ' '/(Hin*! (entrai booth. General Cole
f'in Bledge? of $10000 from the crowd.
News of activities <rf th? Un in bon
Jjii'wum in the, Vici.org Loon ('am
prujo will he. found on the bttsiruSB?
ONE OF UNCLE SAM'S BIG GUNS
-ton Howitzer used in the Victory Loan "Battle" in Van Cortlandl
Park.
Mimic-Battle in Park for Loan;
Monster Tanks Attack Trenches
A day ami night battle show, with
all tho verisimilitude of an extremely
active, battle sector in. France, was
given at Van Cortlandt Park, yesterday
afternoon and last night by the Trench
Warfare Division of the Ordnance De?
partment and the Chemical Warfare
Service. There will be repetitions,
afternoon and evening, to-day and to?
morrow, with tito climax on Sunday, in
tho "Victory Panorama," when from
the assemblage of great puns, tanks,
tractors and truel;., now at the park
I there will be selected for display down?
town a sample of every instrument of
destruction weighing les.-, than thirty
tons.
The Ordnance Department prepared
for its three-day spectacle with much
of the secrecy of actual war. For
several days it had been assembling
war material, from hand grenades to
twelve-inch howitzers and a ninety-ton
rifle, one of the monsters with i range
of thirty-six miles, Yesterday the
parade ground at Li T. 711 > Street and
Broadway resembled the ordnance
park of an army corps preparing foi
combat, with tanks of all sizes, mobile
repair shops, a big sausago observa
? tion balloon, machine guns, trench
i mortars, flame and gas projectors,
j smoke screen machines and aerial
! bombs. And most of these, excepting
, the heavy guns and the balloon, which
? was not sent aloft on account of the
1 prevailing gale, were used in the show.
Tanks in Big Attack
The battle spectacle itself, which
. ? began at '?_:,'_(. o'clock, might have been
called "Three Hours at Vimy Ridge,"
' with the realism lessened only by the
'. fact that sonic of the lighting men?
i veterans of the '"?.".?1 regulars, too?
1 stood erect before machine guns, while
i tanks were attacking their strip of
, trench between the ridges that flank
the neck of'the park parad? grounds.
'. These ridges rang throughout the
. afternoon with the crack of three, four
and six-inch Stoke;- mortars and the
' explosions of the trench bombs, which
punctuated the rattle of machine puns
as the tanks, bi;^ and little, came
: crawling down the road, skirting the
eastern ridge to the attack. Last night
' . the entire countryside was illuminated
j by flares which officers in charge said
' I were of 3,000,000 eandie power.
The show was put on by fifteen ofii
' | cera of the Ordnance Department from
Washington, under Colonel J'.. .1. \V.
Ragsdate and Major Arthur Frantzen.
Use of Grenades Shown
i .Major Frantzen first illustrated the
' use of hand grenades in offeiicc and
Ex-Ambassador Says
America's Example
Kept French Going
W. G. Sharp Tells How U. S.
Fighter? Furnished Final
Punch Necessary to Beat
Bark the German Lines
Tho strength Americans gave the
Alli'-d lino in France won the war,
William G. Sharp, formerly United
States Ambassador to France, told a
crowd in front of the reviewing stand
in Victory Way yesterday. Mr. Sharp
was speaking in connection with the
New York Central's welcome to the
first 1,400 of its employes back to
work after service overseas.
"On this day which the Victory loan
committee has set aside as Ch?teau
Thierry Day it. is fitting that 1 should
till you where the credit for the vic?
tory in 1.s iK war lies," said Mr. Sharp.
"1 was at lunch with a famous
French general, the commander of the
Algerian division, one day in Nancy,
and he frankly said that the victory
was only Bocured through the valor of
the American troops. lie mentioned
the example of one of hin units, be?
tween two American units, in a fight
not far from where wo were then talk?
ing. By the sheer exnmple of the
bravery and courage of the American
boys the French kept on, ho said.
"That in the feeling of the people
nil over France.
"The success of the Victory loan will
have a great rnor.il effect In Franco,
whore the peace delegates are sitting."
continued Mr. Sharp. "It will streng! li?
on the hands of the representatives ol
this country."
The former Amba ?ador paid a trib
uto to American railroad engineers In
Prance, who, he laid, were "splendid
construction men and splendid fight?
ers."
"No finer sot of men went to Eu?
rope than the mon in that branch o?
the service." hfl added.
Thousands of friends and relatives
Programme of Events
?ti Loan Drive To-day
r"pHE following events will take
?"- place to-day in the Victory Lib?
erty loan campaign:
ST. MIH1EL DAY
At Victory Way.
1" noon Addresses by Assistant
Secretary of War Frederick P. Kop?
pe!, Major General Charles T.
Mcnoher, Colonel W. .1. Donovan,
Count do Chambrun, charg? d'af?
faires, prench Embassy.
7:"0 p. m. Carpatho-Rttssian
Night, exercises.
I Van Cort.andt Park War Show:
S :.'S0 ]). in.- Trench warfare.
[i:?.0 p. m. Exhibition of chemical
warfare.
4:15 p. ?,i. Balloon ascension.
8:.'!0 p. m. Army Ordnance De?
partment night warfare exhibition.
Liberty Theatre (New York Public
Ljbrary I :
" to ?3 p. in. Lambs Club day.
Van Cortlandt Park:
1" to '.', p. m. Passenger 'planes
1 will carry purchasers of Victory
? notes.
defence. The men of the 63d threw the
! grenades in volleys and at will, repell?
ing an attack, while the gallery of
spectators stood on the parade and the
heights, in safety zones marked by
wire fencing, with covered ears.
Next the deadlihess of rifle grenades,
the regular service typo used by the
American forces against the Germans,
was demonstrated. Then came the dis?
play of trench mortars in action.
Machine guns were emplaced at each
? end of the trench section, and these
went into action when the tank flee!,
consisting of three monster machines
: and six "babies," came down the. road.
As they approached anti-aircraft guns
began barking, and paper bombs wer??
fired to imitate shrapnel, with their
powder puff bursts.
i As the? tanks swung off the road
on to the parade and made for the
trench parapet successive layers of
phosphorus bombs were set off, screen?
ing the trench with dense volumes of
blue smoke. The defenders leaped over
; the parapet into the open to set more
bombs.
The tanks climbed part way over
: the trench parapet, and then, after
leaving something for the trench men?
ders to do this morning, veered off
\ to the flank. Smoke bombs then went
: off almost under the feet of the spec
? tators on the western ridge, and the
Chemical Service began sending up sifr
? nal rockets red, green, blue and gold
and gave an exhibition gas attack.
of the returned railroad men jammed
Victory Way from the Grand Central
to Fiftieth Street and cheered the
lighters.
After the review railroad employes
subscribed to $2,000,000 worth of Vic?
tory notes.
Forty Killed by Earthquake
American Legation at San Sal
-. ;><)c. r Reported Damaged
WASHINGTON, April 29.- The Stair
? Department was advised to-day that a
? severe earthquake occurred in San Sal
I vador at 1 o'clock yesterday morning.
causing forty deaths, injury to many
persons r.nd considerable damage to
property.
The American Legation building a;
San Salvador was damaged, hut no
Americans were reported injured.
Captured IJ-Boals
Cruise in Harboit
For Victory Loan
Four of Ex-Kaiser's Pirate
Craft, Now Flying Star.-?
and Stripes, Steam Par-it
America's Victory Fleet
It takes a mighty powerful counter
attraction to make a gob forget his
"lady friend." it happened yesterday
afternoon, however, when bluejackets
by the hundreds, stationed on the bat?
tle fleet in the Hudson, deserted their
visitors and crowded the rails to take
a cloae-up squint at the four captured
German submarines now in the harbor
to help the Victory Loan.
With the giant UB-88 leading the
way, followed by the UP-148, the U-117
and the UC-97, the quartette of low
hung era?'*,, made their way up the
river from the Battery, passing within
easy torpedo range of the newest
I dreadnoughts in the navy., At a point
?opposite 170th Street the submersibles
| turned and steamed down again, ending
I the trip at their berths in the New
! York Navy Yard.
Tho German boats were a strange
j sight as they passed. Instead of the
I hateful emblem of the imperial Gcr
! man navy they flew the Victory Loan
\ banner and the Stars and Stripes.
The four U-boats reached tin* Bal
tery from the navy yard at 11:30
o'clock in the morning. While the
other three lay in the oft'ing, the UC-97.
a mine layer, in charge ?if Lieutenant
Commander ('. A, Lockwood, tied up
, to the Battery wall.
Sharing the narrow conning lower
with the ofjjccr in charge was Mrs.
?lohn T. Pratt, chairman of the Wom?
en's Liberty Loan Committee, the lirst
American woman to board one of the
captured pirate craft. On the deck of
j the undersea boat were Benjamin
Strong, chairman of the Liberty Loan
Committee; A. M. Anderson, director;
?Cuy Kmerson, vice-director of the
Government Loan Organization, and
the Rev, Roland Cotton Smith, of
Washington, I). ('.
The band from the battleship North
Dakota played "The Star-Spangled
Banner," while thousand:' fit' persons
who lin?-?I the Battery wall uncovered
and the American crow manning the
submarine stund at attention. Then
Chairman Strong raised tho offlcin.1 Lib?
erty Loan emblem at the masthead und
the crews of the other submarines fol?
lowed suit.
During Hit" ceremonies n flock of big
seaplanes from the Rockaway Naval
Station swooped down the Hay.
After the flag raising, guests and
newspaper men wen- permitted Lo
board the UC-97. They found that the
life preservers had been re-marked
"Ex-German Submarine," but no one
had removed the naval coal of arm
with the painted "Gott mil Uns" from
the front of the conning tower. The
! UP-148 had a black iron cross paint?.?I
on its green colored lower.
Visitors and newspaper men dived
into the inwards of the raider and saw
something that any German would have
given much tu see before the armistice
Xew York City through a German
periscope. After the inspection camera
men and reporters boarded the revenue
cutter Hudson and accompanied tho
I submarine squadron, with Its foster
mother ship, the Hu.-hnolL on its trip
through th<- American fleet.
Swiss lo (?o Without
Meal for Two Weeks
_
Difficulty in Provisioning Na?
tion (lauses Order l>y 1*Y<I
eral Council
BERNE, Switzerland, April 29. Be?
cause of the increasing difficulties of
provisioning Switzerland with meat
the Federal Council has decided to
forbid eating meat from May 5 to May
19 throughout the nation. During this
period'the killing or sale of cattle also
is forbidden.
The governments of the cantons have
been ordered by the Federal Council
to take extremely strict, measures to
enforce these ?inlets.
?r h?\
!| ! ^n ONCENTRATION and the elim- Il
: _ft/( ?nation of useless operations form |i
'I; jfiLvV /flnc Dar'is OI twentieth century ;?j
? i%^ >r efficiency. :'i
r ira?/ Wc have one store, on. standard |!
Uli wir / ant^ one curricubim OI service? j!|
'! sn / our cnt're sl"oc^? both active and ?|j
Il ? I reserve, of everything men and ?:j
? I boys wear?from head to foot? ,1 j ,
!, l_ "^ a'l under one roof. ? ill
!'; Advantages? ?j|J
j ' Quick service?Greater variety?Broader range I
I of sizes?Saving of time and anxiety. '?!?
I Brokaw Brothers
j; 1457-1463 BROADWAY i
I, AT FORTY-SECOND STREET ! I
|fa_ fl |
We'
re a
mencans
T^OWN in the harbor there's a statue. It has been
there so long that we fbrget about it most of the
time.* Our ferry-boats and tugs steam around it ; our
factories smudge it with their smoke ; we point it out
to our visitors with a casual wave of the hand. And
then we forget all about it and it becomes part of the
scenery again.
Part of the scenery?That Woman with the Lamp
aloft beside the Golden Door?Mother of Exiles?
Spirit of Freedom-?America! Countless men have
died to keep that Lamp of hers aflame.
[ And it's part of the scenery !
| We're a queer lot?we Americans.
We send two millions of our bravest and best to
the other side of the world to fight for the right. We
spend our blood and our might without stint. And
then?when those men have won the Victory are we
to question the money cost of the Victory for which
they gave their lives?
We are a queer lot, aren't we?
? What's all this got to do with the Statue of Liberty?
Only this.
We mig?it just as well throw Liberty's Torch into
the bay as to forget what we've pledged our Honor
for. It will look that way to the rest of the world,
anyway.
This is not a question of costs. We've spent the
money?and got more than full value in return?
and we must pay the bills.
is is no time for us to hold back.
v?*xgot a job to finish.
Let9s finish it.
Tin's space contributed to Help Finish, the Job by the following members of tin
EXPORT, IMPORT AND SHIPPING TRADE
Agar, Cross & Co., Ltd.
Alexander & Baldwin
American Importing Co.
Antioquia Commercial Corporation
Arnstaedt & Co.
M. Argueso & Co., Inc.
Arnhold, Karberg & Co.
Ayrea, Bridges & Co.
Baker & Williams
Barclay & Co.
Bliss, Dallett & Co.
W. Bolus & Co. (Ltd.), Inc.
E. S. Buffum Company, Inc.
Caldwell & Co.
A. M. Capcn's Sons, Inc.
Caracanda Bros.
John A. Casey Co.
Central Timber Export Co., Inc.
Corn. Schwarz & Co.
W. Clive Crosby
Davis, Turner & Co.
Charles N. Dcmarest
Dodge & Seymour, Ltd.
The Distributing Corporation
Dowler, Forbes & Company
Duncan Fox & Co.
M. EI-Hilow & Bros.
Far East importing Co., Inc.
Foreign Traders Co., Inc.
Frazar & Co.
F. W. Frost & Co., Inc.
Robt. Gilchrist & Co.
Goldsmith & Co., Inc.
Gonzales & Co.
A. L. Gosselin Corp.
W. R. Grace & Co.
Hagemeyer Trading Co.
Louis Hammer, Inc.
Hanson &: Orth
In.cx Corporation
International Forwarding Co.
Frank Jacobus
Jarvis Stores, Inc.
Kern Commercial Corporation
As. La.icelles & Co., Inc.
K. Mandell & Co.
?Warden, Orth & Hasting. Corporation.
Merritt & Chapman Derrick & Wrecking
Co.
James M. Motley
Padin Brothers
H. Ray Paige & Co., Inc.
Pan American Trading Co.
Parsons & Whittemore, Inc.
Pettit, Marshall & Co., Inc.
H. H. Pike & Co., Inc.
Porto Rico International Corporation
Edward M. Rat-he! & Co., Inc.
F. Romeo & Co.
A. Rosenthal & Sons
Charles F. Smillie & Co.
Snyder & Bryan, Inc.
The South & Central American Com?
mercial Co., Inc.
E. B. Thomas & Co., Inc.
Thomsen & Co.
John W. Thorne Co., Inc. fJJ
United Transportation Company "^
Whitehouse, Davis & Co., Inc. T
GOVEi.NMF. VI?
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I. I b E R i Y
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federal Reserve Diatrict
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COMMITTEE
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