Evening star. [volume], April 27, 1928, Page 10, Image 10

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
10
. ENGINEERS TO SEE
ARMY EXHIBITIONS
!
American Society Members
Will Motor to Fort Hum
phreys to View Work.
The American Society of Civil Engi
neers arranged today to motor to co
lonial points of interest in Virginia and
then to or entertained at the Army's
principal Engineer station, at Port Hunt*
phrevs. The program called for visits
to Alexandria and Mount Vernon, and
at the Army post an exhibition of mtli
iary bridges, showing actual construc
tion under fire and other engineering
activities.
The engineers yesterday listened to
group discussions on construction, sani
tarv engineering, surveying and map
ping, construction and city planning.
Women interested in the convention
were entertained vesterday with lunch
eon at the Chevy Chase Club, partici
pated in bv Mrs William Howard Taft
and wives of members of the cabinet.
White House Repair.
The men attended a smoker last night
at the Washington Hotel. A dinner was
given tor the women in the National
Press Club, with Mrs. Herbert Hoover
presiding.
Fuel was saved in the White House
during the past winter through the in
sulation installed in the recent renova
tion Lieut. Col. V. S Grant. 3d. direc
tor of the Office of Public Buildings and
Public Parks of the National Capital,
told the engineers in the structural di
vision session. Some of the timbers
taxon out are still available for souve
nirs he said Col Grant explained the
recent repairs to the White House roof,
illustrating his address with slides.
•The Washington Water Supply' was
the subject of a paper by J. E. Curtis,
superintendent of the 'Washington Aque
duct and Filtration Plant, aqd Philip
O Macquocn. superintendent of the
Pnlecarlia Filtration Plant. Discussion
was opened by Maj. B B. SomervelL
engineer for the Washington district.
Arlington Bridge.
H N Crichton, resident engineer of
the Arlington Memorial Bridge Com
mission. described construction features
of the bridge, while John L. Nagle, de
signing engineer of the commission, told
of design oi the bridge
Charles W Eliot. 2d. city planner
of Washington, read a paper on “The
Round Point in the Design of Wash
ington.” while J. B Gordon, sanitary j
engineer of the District, told the engi
neers of underground utilities, mains, j
wires and subways in the District. Al
bert L. Harris, municipal architect,
spoke on “The Architectural Develop- j
ment" of the city.
—— «• -
Navy Awards Announced.
The Navy Department has announced ;
the following as the standing in en- !
irineering of vessels of the battleship |
class for tire competition year to April I
1. last: New Mexico, first; Tennessee,!
second: Arizona, third: Maryland, j
fourth: Idaho, fifth: West Virginia, i
sixth: Mississippi, seventh: California,
eighth: Colorado, ninth, and Texas.!
tenth.
j||
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trousers designed and fc£ \^X
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» <
Young Film Cutter May Inherit Title
Os Baron Wrangel, But Prefers America
1 B.t the Associated Preaa.
f LOS ANGELES, April 27 —A youth
ful studio film cutter announced to
friends here jv 'erday that ha was
5 cousin and next of kin to the late
Baron Peter Wrangel, and that he
would accept the title of the late leader
of the Russian White Army, if that ac
ceptance would not endanger his as
pirations to become an American citi
zen.
Basil Wrangel. 22. for several years
employed as a cutter in the Metro
• Goldwyn-Mayer studios, said: “I have
• filed naturalization papers to become an
i
5 FUND WORKERS TO MEET.
>
1 Palestine Appeal Canvassers to
Gather Sunday Afternoon.
Workers in the united Palestine ap- 1
i peal win meet at the Jewish Com- 1
• munity Center Sunday afternoon to rc
• port on the progress toward Washing
, ton's goal of $35,000, Rabbi Morris S.
i Lazaron. secretary of the Central Con
■ ferenee of American Rabbis, will be the
principal speaker.
The campaign will close May 8 with a
banquet at the Washington Hotel, at
which Dr. Chaim Welaman, president of
the World Zionist Organization, will be j
present.
Experts from the United States are
helping Ecuador untangle its financial ;
problems.
Half a Million People in New York' |
Eating Liver to Restore Health !
_
Many Now Turning to Hemo-Liver
***
It is estimated that in the City of
New York alone over half a million
men, women and children who have
anemia are eating liver on the advice
of physicians.
There is some “Mysterious Sub
stance” in beefs liver that turns thin
watery blood into rich red blood—re
stores in great measure weakened,
vital forces. Just what that potent
Substance Is scientists are now trying
to ascertain.
All they know now by thousands of
tests is that weak, anemic, vigorless
i.eople are greatly benefited and
nearly always are restored to normal
and often robust health.
It is today well known to every
progressive physician that the dis
covery of this vital substance in liver
is a' big step forward in medical
! achievement.
The chief trouble so far is to get
i people to eat enough liver to bring
about a speedy recovery for It Is hard
i to eat liver every day—many people
can't do.lt.
I So now doctor* are prescribing a
i preparation called Hemo-Llver which
is extracted from fresh beef livers by
||L_—^
THE EVENTyq STAB. WASHmOTON, P. C„ FRIDAY. APKTL 27, 1928.
American citizen. If. by becoming the
baron, my Americanization is prevent
ed. then the deuce with being a baron.
I'd rather be an American cltlsen with
a good job than a Russian baron with
out. any.”
Even ts he should "prove up” and
become Baron Wrangel. the young film
out ter said he would not inherit leader
ship of the invisible whit* army—the
Monarchists of Russia, waiting, scat
tered throughout the world, for a call
to action. leadership in the army could
not be inherited, but would pass to the
next of rank, the Grand Duke Nicholas,
now in Paris.
_______ . !
RED CROSS SENDS CALL
FOR BANDAGE MAKERS
| I
An emergency call has been Issued by j
Mrs. A. J. Chappell, chairman of the j
surgical dressing unit of the District |
Chapter of the Red Cross, for volunteer j
workers to make bandages and dress- '
ings for the local hospitals, which are j
experiencing a shortage and have ap- '
pealed to the Red Crass for help.
Tiie workers are needed on Mondays, i
Wednesdays and Fridays in the morn- !
ings. No previous experience is neces- j
sary,' Mrs. Campbell stated. Volunteers
i should apply to 821 Sixteenth street,
i During the last month the surgical
dressing unit made 28.000 bandages and
dressings for the local hospitals. Most j
of these were used at Emergency Hos
-1 pital.
an intricate scientific process so that '
rich red bloodmaking vital elements i
are obtained.
So great lias been the demand for
Hemo-Liver that now all of the first j
class drug stores dispense it In large j
bottles containing twelve ounces.
By taking one tablespoonful three j
times a day any anemtj person will
get as much of the potent substance '
as the eating of much liver would
supply.
“Men and women who are suffering
from lowered vitality, general weak
ness. overwork, nervous breakdown 01
anemia can put their faith In Hemo
Liver. For feeble old people, girl
thirteen to eighteen and in convalts
cence it won't fail. As a Spring toni
it surpasses old-time remedies. It
strengthens the nerves, increases the
red blood cells, promotes health and
rebuilds vigor and energy so quick!-
that often physicians arc astonished.'
Why not get a big b *tlc of Hemo
Liver today-eight days’ treatment
and if after you have taken one bot
tie you are not w-onderfully lmproved
get your money back.
You can get Hemo-Llver at People.-:
Drug Stores.—Advertisement.
f* **»»»»»«*
* H
O »
!
j Power Trust
3»
{ To the President, Members of Congress, Public Officials,
| Citizens and Minority Stockholders of the j
| Washington Railway and Electric Company ]
5
jjfe
w *
He *
Tn tlie present merger before Congress the milk in the cocoanut is not the valuation of the com
panies, serious though that question be, hut the handing over of the control of the electric power and
street car company, which has a valuation of $45,000,000, to a holding company of Wall Street con
| trolled by the North American Company and in which the direct management will be from Wall
| Street.
Tt is well known that the North American’s interests are not in the street railways of the city, but
in obtaining control of its electric power. Have you investigated the FINANCIAL METHODS of
I the North American Company? Have you figured what will be the ultimate results of handing over
our power company to the North American? Has not experience shown that holding companies of
- utilities arc not responsive to local interests?
* * i
I He ■.
Letter from the Chairman of the Federal Trades The following is an excerpt from an article in the
Commission, printed in Senate Document No. 46, Washington Herald of Sunday, March 28:
l February 1, 1928, makes this statement concerning
holding companies: OBJECTIONS SUMMARIZED
Regulation problem* growing out. of holding companies— The payment . ,
to holding companies of financing, engineering, management, and con- Some of the objectional feature* summarized are:
i X atruetion fees that become either a part of current operating expenses or
* a part of the total cost of plant atid equipment, presents a distinct problem *
He in state public-utility regulation, state commissioners are charged with "The holding company escapes State regulations, first because
I ¥ the responsibility of seeing that operating expenses are not paddedand <joes no t operate any properties, and second because its
I f , hat investments in plant, as used in rate determinations, are not stated K J H . ’ . , . .
at inflated figures Whether the fees are paid to independent or affiliated financial operations are interstate in character and beyond
!he holding-company organizations, the commissions have no authority over State control. Profits may be concealed and paid to the holding
;S g o company’s exJSSes' company in the form of fees for services or for the payment of
¥ Every state commission, therefore, faces the difficulty of determining the profits at the expense of necessary reserves to cover necessary
fairness of such charges without having the power of access to the hold- reserve*! and renlarements nf nrnnertv
ln R company’s accounts and records. Recently the Wisconsin Railroad reserves ana replacements Os property.
Je Commission has held, in two cases involving fees paid by two subsidiary v. rnrr , n! >r.v structure
water companies to a third subsidiary construction company of the The complicated, pyramided holding company structure
yf American Water Works L Electric Co., that no charges shall be made created without regulation raises the question whether such
against utility companies by affiliated concerns unless evidence, other than structures really are necessary when the same degree of control
* agreements or contracts between the two. is presented showing fully the might be accomplished by straight merger, with less possibility
* nature, the amount, and the cost of the service rendered, including time, that nronerties are being assembled and passed from hand to
itV»S"S £3& OU A .!»iUiSTu n .% .S.liS hand'i n the pyramid for'the purpose of speculation In the sale
to the electric-power Industry. 01 securities.
Rates for energy tn interstate commerce.— The quantity of electric “Other objectionai features are the domination of control
energy that crosses State lines has been variously estimated up to June, by & small fraction of the actual cash investment. In charging
sHe 192 T at from 2to 5 per cent of the country’s total. The proportion bids fees for services the holding company is virtually in the position
■'•'f fair tr increase considerably, however, as interconnection becomes more and 0 f unrestricted contracting with itself without let or hindrance.
% more general; for as claimed bv its advocates, “superpower’’ develops along Under such control the unregulated purchase of common stock
economic rather than state lines it has been claimed by the promoters control of operating companies at prices far in excess of the
IHe of ll'f “superpower program that even where energy is interchanged at panitatiTorf nresent esmin? nower or Drobablv future eaminz
> Star lines, the respective State commissions would nevertheless be able to capitalized present earning power or prODamy iuru i mng
;•* regulate the rates effectively As previously stated, the recent decision of power of the operating companies for years to come, is tracing
¥ the court in the Attleboro case, definitely classed the interchange of energy on such thin equity that the purchaser of securities of the top
at the state line as a transaction in interstate commerce and denied the lavers is in reality investing his money in control of control
h juri diction of the State commissions. This decision leaves the country rather than in a security backed by physical assets. Holding
* sac« to face with a grave problem In regulation. It Is even conceivable company organizations show both profits and losses grouped
He that where the operating companies on both sides of a State line are con- . n „e«tinn ix raispd as to the extent to which the
t troiuci by the same holding company a tricky management might virtually
it free itself from control of rates by state commissions by exporting energy holding company is Justified in making tne strong company bear
% at one point and importing it at another. the lasses of ti.e lesser.
he
■'it
Ht \ * •
He *
This reprint from the Herald is a quotation in part of a report on the abuses of holding companies and utility,
power companies by the Hon. W illiam E. Humphrey, Chairman of the Federal 1 rade Commission. If this merger
£ goes through, one can see that the affairs of the Potomac Electric Power Company will be controlled by the North
American Company, whose offices are located in New York City, and that the minority stockholders in the W ash
ington Railway and Electric Company and the citizens of the District will he compelled to go hat in hand to \\ all
% Street for anv desired relief.
He * ....
There is no question but that the officials of the District, the business associations and the citizens associations
favoring the merger do so from good motives, but I do not believe they have given the North American financial
* methods and the matter of holding companies the consideration that an ordinary business man would give to the
•| crediting of one of his customers with SIOO worth of goods.
ft In the letter of February 15 from the Washington Railway and Electric Company to its stockholders, in which
| its officers recommended the merger with the other companies, the only reference to the Potomac Electric Power
Company is a statement that the property of the Potomac Electric Power Company is to be omitted from the sale.
jjj* Ju the Washington Herald of March 28th appears the proposed plan to turn the Potomac Electric Power Com
| pany over to the North American Holding Company and the dangers inherent in such a plan.
The pamphlet called “The Unification Agreement Between the Washington Railway and Electric Company,
the Capital Traction Company and the Washington Rapid Transit Company' contains no reference to the future
% disposition of the Potomac Electric Power Company.
*k l
I attended the numerous meetings recently held in the District Building between the Public Ltilitics Commis
sion and the citizens’ associations, and at no time did 1 hear any mention of the disposition to be made of the power
company, which, from the standpoint of earnings, is the m important matter for your consideration. I have heard ;
of no contemplated meeting to consider this subject.
| ASTOUNDING!! I
i'k l, as a large stockholder in the Washington Railway and Electric
% Company, requested in writing of William F. Ham, President of that
| company, that my agent be allowed to copy the names and addresses
of the minority stockholders, who number about twenty-three hun
dred (2,300). I wanted to acquaint them with the situation. I was
% refused permission.
j .£ The Washington Railway and Electric Company is controlled by
the North American Company.
l|
Shall Washington he made the foot ball of such a holding company? As a minority stockholder, desirous of
acquainting other stockholders of this situation, I recently asked the officials of the Washington Railway ami Elec
tric Company for a correct list of the names and addresses of these stockholders and was refused. 1 believe the
'■% minority are oblivious of the peril threatening their interests.
' * I M * $
I started buying my stock in the Washington Railway and Electric Company twenty years ago. 1 made this
investment because of inv faith in the future of my city and because I considered its affairs to he under the watchful
eye of the President and Congress. My faith is still unshaken. lam confident that it the iniquities of this merger
are brought to the attention of the legislative imd executive branches of the tlovernment it will not receive their
14 ,
, •* approval.
Two or three years ago. w hen tin* North American was acquiring this stock, l was importuned by letter, phone,
wire and ('able to dispose of mine. I believe tifty-ffVe or sixty thousand shares were acquitcd tor less than 5s5,(\XX(W\
1 believe today that investigation would show thHv profit to he over SSO,OOO,(XXX l believe the North American
\i t Company has not put one cent constructively into this plant.
While certainly not entirely free from selfish motives, I have nevertheless a genuine love for Washington and
am genuinely interested in that which affects its welfare. I have lived my life, raised my family, made tnv friends
here. I have watched and am watching the city grow into one of the most important and certainly the most beauti
ful in the world. 1 feel its future should not he hampered by having it shackled with hall and chain to Wall Street.
% My motto for it is, “No Wall Street, No Pyramiding, No Foreign Rule.”
4 * i
w *
Respectfully,
J John J. Noonan j
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