Indianapolis Times, Indianapolis, Marion County, 19 May 1939 — Page 19

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The Indianapolis Times

(A SCRIPPS-HOWARD NEWSPAPER)

RER ROY W. HOWARD RALPH BRURKHOLDER MARK FER President Business Manager

Owned and published Price in Marion Couns

daily (except Sunday) by The Indianapolis Times Publishing Co. 214 W, Maryland St.

a week.

Mail subscription rates in Indiana, $3 a year; outside of Indiana, 63 cents a month.

«Be RILEY 331

@ive Livht and the People Will Find Phetr Own Wey FRIDAY, MAY 19, 103%

MONEY POWERS RESIDENT ROOSEVELT has powers—which most citi gens. we think, hope will not be used—to order somethink like £12.000,000,000 in money inflation. J these powers, granted on an “emergency” basis, will expire next June 30, unless extended by Congress. The Democratic majority in the House has voted for a two-year extension of the President's authority to further devalue the gold dollar, to operate the £2,000,000,000 stabilization fund and to continue the silver purchase program. Republicans fought vainly against the devaluation

Member of United Press, Seripps «- Howard News. paper Alliance NEA Service, and Audit Bue reau of Circulation

and the silver items and, while they favored continuing the

stabilization fund, tried unsuccessfully to put certain restraints on its operation. . We can't get much steamed up over devaluation. Some authorities contend that there would be more business confidence if it were made certain that there won't be another bite out of the dollar's gold content. The President took a {1-cent bite more than five years ago. He could cut 9 cents more. but he shows no disposition to do it. We're inclined to give weight to Secretary Morgenthau's argument that this power is a necessary weapon in reserve against the possible depreciation of currencies in other countries. As to the stabilization fund, it has been used honestly and effectively to keep the dollar's value steady in foreign exchange, and no change in its administration seems necessary. But there are other powers over money that are dangerous, that do affect business confidence, that Congress ghould not have given to the President and of which he ghould be relieved. The silver program, for instance, is a costly failure. We have paid an absurdly high artificial price for enormous stocks of silver which we do not need. We have subsidized not only our own Western silver industry but the silver producers and speculators of the whole world. Under present law this silver hoard could be made the basis for currency inflation. And, of course, there is the Thomas amendment to the 1938 farm law, empowering the President to issue £3,000,000,000 in greenbacks.

ty, $ cents a copy. deliv- | ered by carrier, 12 cents |

Certain of |

Fair Enough

By Westbrook Pegler

Press Reminded Royal Visit Is Just Another Story and They Have | No Special Social Rights Therein.

EW YORK. May 19.—It will be worth remembering when the British King and Queen come to this country that they are not coming to visit the | American newspapers or the reporters or trained seals assigned to the story and that the press has no social rights or prerogatives in the matter. It is the job of the press to cover the story just as it is the job of the railroad men to run the royal train, and there is no obligation on the King or Queen to take any journalists on their laps or invite them to pull up chairs and shoot olive pits with them. They don't owe any consideration to the social ambitions or pretensions of any publishers er any wives thereof or of any staff or syndicate journalist. Therefore, any reprisal on them in the form of a “bad press” for failure to propitiate the press will smack of blackmail and hurt the papers more than them.

fact that such is notoriously the case in the journalism of Hollywood and the so-called Broadway sector is a reproach which ought to be localized or abolished and | certainly not extended. i . 8 a ERE has developed a small group of personally vain poseurs and poseurses in the newspaper | business who regard themselves as persons of great celebrity and, in arrogant ignorance of the first prin- | ciples of journalism, require flattering attention as | the price of praise or forbearance, Newspaper people ought to keep their distance socially from the objects of their professional coverage | and neither seek nor permit themselves to be drawn inte a zone of intimacy in which impartial reporting | could be construed as retaliation for personal slight or payment for social favor, Nobody knows beyond a guess why the King and Queen are coming here at this time, he with much | work undone at the office and she with a sinkful of !

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dishes, so to speak, but outwardly, at least, their visit

is purely social. Thus the British Embassy's failure

to invite the whole Washington corps of journalists to the garden party for their nibs is no calamity to the

press and shouldn't be one to them. » . =

EPORTERS are not society, and those who think they are are neither repcrters nor society but inept amateurs who don't speak the language, on the professional side, and climbers, lobbyists or brokendown aristocrats, on the social side. And the party in the garden will not be news unless some appointee’s wife tries to pick a brawl with | the Queen over the debt or Bunker Hill or some buck | New Dealer with a shootful of the Embassy's best thinks the occasion appropriate to sing the one beginning, “The Minstrels sing of a jovial king: a won- ! derful king was he.” ; Either one would be a faux pas, causing consternation, but no reporter invited as a guest under the

THE INDIANAPOLIS TIMES

.

When a Feller Need

It shouldn't be necessary for anyone to fawn on the | press to escape deliberately nasty publicity, and the

social obligations binding on a guest could write the |

piece without sacrifice of personal honor. | best for the press to scout around outside and obtain | the news from some invitee when the butlers begin | to heave them over the garden wall This exclusion is to the advantage of the press in another way, too, for this will be one time when no man can say he was a reporter who staggered out

with a quart in each pocket or pushed Lady Agatha

into the fountain.

So it were |

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The Hoosier Forum

1 wholly disagree with what you say, but will defend to the death your right to say it.—Voltaire.

OPPOSES PURCHASE

| tion to unload upon Indianapolis

(Times readers are invited to express their views in these columns, religious controversies excluded. Make your letter short, so all can have a chance. Letters must be signed, but names will be withheld on request.)

OF WATER COMPANY By E. §. Brown

The purchase by the! City of Indianapolis of the Geist Water Company is another proposi- |

another white elephant. We have one in the Citizens Gas & Coke | Utility. If the Citizens Gas & Coke Utility is owned and controlled by the citizens of Indianapolis, why is it that all Indianapolis coke users pay trib-

try in this world that offers such grand opportunities?

LAUDS CHURCH TALK MADE BY BRADSHAW By Edward F. Maddox With crime and delinquency on the increase among the youth of | the nation, it is encouraging to hear a talk such as Judge Wilfred Bradshaw of our Juvenile Court made at | the North Side Nazarene Church on Mother's Day. Judge Bradshaw emphasized the importance of Christian home train-

FRIDAY, MAY 19, 1939 :

In Washington

By Raymond Clapper

Monopoly Probers Told U. S. Steel Self-Financing, a Factor . Which Complicates Investment Problem.

ASHINGTON, May 19.—One of the witnesses before the O'Mahoney Monopoly Committee this week was Edward R. Stettinius Jr. chairman of the U. S. Steel Corp., the industrial giant of all time. He is 38 years old and his hair is silver. He looks a little like Paul McNutt of Indiana, and he appeared before the committee with the affability of a politician. From time to time he has held long evening conversations on the state of the nation with New Dealers, and he knows a number of them so well that across the committee table he called Leon Henderson by his first name. : The committee is inquiring into the opportunities for large capital investment of the enormous reserves of idle money that are lying around blocking re--employment. Mr. Stettinius is the head of a giganticindustrial corporation employing 210,000 employees now while operating at 42 per cent capacity. With out counting their families, these U. S. Steel em-. ployees constitute an army nearly as large as the total population of Wyoming, the state which Chairman O'Mahoney represents in the Senate. Here, it might appear, would be an opportunity for large ine vestment of funds. yy w @ UT that did not prove to be the case. U. S. Steel. finances its modernization and expansion almost. entirely from within its own resources and borrows lite tle from the public. Over the last 17 years it has ise sued $239,000,000 in common stock and has sold $100, 000,000 in debentures. Yet in that period it has spent more than $1.000,000,000 on plant and equipment—ob= tained out of operations. Mr. Stettinius was asked if his corporation was not practically self-sufficient, financially. He said it was, given normal operations. He saw little likelihood of. future expansions that would compel the corporation to go into the securities market for funds. The committee has selected a group of basic industries which, it expects to show, are similarly largely self-sufficient financially. That goes to the crux of the problem which the committee is invesjigating in its accumulation of evidence in preparation for a new Administration attack on the problem of economic stagnation and chronic unemployment. ” nN » CONOMISTS have testified that unless the savings of the country, the idle money, can be worked back into the system to finance industrial expansion, there is little hope of real prosperity. Dr. Lauchlin Currie, assistant research directer for the Federal Re-

| serve Board, says that in 1937 the gross savings out of:

gross national income—of the American people, not the Government itself—were about 19 per cent, the same ratio as in the 1920s. If that ratio prevails when the national gross income is around $100,000,000,000 (meaning a net national income of $£90,000,000,000), savings would amount to about $19,000,000,000. A healthy economy would require investment of that huge sum each year in public and private activities, The problem is acute now on a smaller national income and it will remain with a larger income. Preliminary investigation by committee economists indie cates that private industry is not likely, of its own demand, to absorb these annual savings. Part of the job probably will have to be handled by the Govern ment. Accordingly we may expect new measures to that end to be offered in the course of time.

We should all be sincerely thank- ing and the good influence of the

ful that America offers us a free ; : hand to sell our wares. whether it church in building habits and char-

ute for each and every ton of coke

This country, in our opinion, fears the theories of purchased from the retail dealers

Business

money-tinkerers who would resort to deliberate inflation of the currency. The evidence is overwhelming that the na-

tional economy is suffering not from lack of either ca~h or

credit, but from lack of use of the abundant cash and credit now available.

that are keeping cash and credit out of use.

DESERVED HONORS HE thousands of friends of the Very Rev. Fr. Henry F. Dugan and the Rev, Fr. Peter Killian will be elated at

the news that the Chancellor of the diocese and the Beech |

Grove pastor are to be elevated to the rank of monsignor. Chancellor Dugan and Father Killian have served not only their faith but their community effectively.

As Chancellor, Father Dugan helps share the responsi- | bilities of Bishop Ritter in keeping affairs of the diocese |

moving efficiently. Father Killian has been a priest for 87 years. He was one of the leaders in the construction of Cathedral High School, he organized and built the Holy Name Church and was instrumental in the building of St. Francis Hospital. The announcement of their elevation comes as a fitting tribute to two worthy churchmen.

CRISIS IN PALESTINE ERROR stalks through the Holy Land again. Riots, strikes, fasts, incendiarism and sabotage have brought police and troops into action as the Jews of Palestine, foreseeing the end of their long-cherished dream of a homeland, display their anger against the British. The Jews call this the blackest day in their modern history. Only the Arabs are jubilant. The Jews see themselves forever doomed to live as a minority in an Arabdominated state and charge the British with a betrayal “which condemns Jewish Palestine to the tragic fate of Czechoslovakia.” During the World War, Britain, as now, was desperately in need of all the help she could get and from every possible direction. The war was going badly for her not only in Europe but against the Turks in the Near East. So, to get the Arabs on her side, she promised them an independent Arabia. At the same time, to win over world

Jewry, she offered a “national home for the Jewish people” |

in Palestine. Of course, she was borrowing trouble. The two promises were bound to conflict. And so, Britain's policy has wavered weakly for years as if living in hope that a miracle would happen. It didn't. Royal commissions tried to find a solution and failed. Conferences got nowhere. Relations between Arabs and Jews grew steadily worse and bloodshed more common. Each side blames the other. They would hardly be human if they didn't. Certainly the British have muddled inexcusably. The very haziness of the war-time AngloArabian understanding left room for endless haggling, while the Balfour declaration with regard to the “national home" in Palestine was just as vague. Britain's World War chickens seem to be' coming home to roost. And they are doing so at a particularly inopportune time.

THE MUSIC FESTIVAL IT is a pleasure to welcome to Indianapolis the more than 5000 high school pupils who are competing in the National School Music Festival for Region 3. Schools in Indiana, Illinois, Michigan and Ohio are represented in the contests, There is no more accurate gauge of a people's cultural advancement than that which can be found in its love of good music. No such impressive demonstration as that being staged here would be possible were it not that the schools are giving music the a it deserves,

ds

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Sc ee

By repealing such temptations to inflation | as the Silver Purchase Act and the Thomas amendment we | believe Congress could do much to remove one of the fears

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‘By John T. Flynn

Rise in Market Prices Is Traced To Large Scale Foreign Buying.

EW YORK. May 19.—One of the mysteries of the last few years has been the behavior of the stock market. Prices have gone up and down with a reasonable rhythm. There has been an upward tendency | when there has seemed precious little reason for it. But what stands out most conspicuously is that its | tendency in the absence of any great activity has been | upward, The Securities & Exchange Commission has just made a study which reveals that as gold has flowed into the United States from abroad, a very large sum of this gold has gone into the acquisition of American securities. There had been, of course, some evidence { that this was so. But the commission gives a figure which is quite large. It reports that about $1,500. 000,000 of foreign gold has been used to buv American corporate securities | There has therefore been this steadv pressure of buyers from abroad, not spectacular or panicky but | spread out over the period, acting as a continuous | force to keep prices up. | Further evidence of this is seen in the following fact. The commission points out that the total amount | of foreign buying aggregated some 400 million dollars more than the total amount of new corporate securities actually issued in that period.

| A Thought for the Future

: In other words there has been a selling of American securities by Americans which has been larger than the buying by Americans. This is at least a reasonable basis for assuming that had this foreign buyIng been absent the tendency of stocks to decline | would have been greater. into our market because it could use a different criterion for buying from that open to the American investor, The foreign buver making comparisons be-

! | mous risks of foreign investment would feel that he | was taking far less risk by buving American securities. This whole movement, therefore, becomes a very | Important one in attempting to appraise the future | course of the market. If foreign buying should cease the steady pressure which it has supplied, would the margin on the buying side depart? Also with the departure of this pressure, it is to be assumed that for the same reason the flow of gold abroad and the | offering of foreign securities for sale would take from our market this important force for holding it up. There is a feeling that if events in Eurcpe were to bring a perfect assurance of peace we would see a prompt rise in our markets. also, I make the guess that this would be followed for

| & time at least by a decline in shares until this European investment here hit some sort of stable level

A Woman's Viewpoint By Mrs. Walter Ferguson

MID wars and rumors of wars, matrimonial ecat-and-dog fights go merrily on. Today's mail brings a letter from a woman who is chopped off with $15-a-week spending allowance, while her popular husband—the open handed, back-slapper type— PrOvides fur coats and pretty frocks for his current cutie,

laughing stock among her friends. sore to think of it. band and that's where the wound stings.

It makes her

tight grip on a man's purse strings is a major achievement, but it seems to be the main ambition of the modern woman. A complete right-about-face has been done since those simple days when Grandma caught Grandpa in the toils of some visiting siren. At that time, Grandpa was the renegade. Unless he fixed things up pronto by making proper amends, he quickly lost prestige among the neighbors and if he were not a pillar he suffered the ultimate degradation. He was churched. Nowadays it's the other way around. The deserted wife is not only scorned by her husband, but by the Ps at, n te at, the tactics practiced by Grandma during such a crisis can't be beat. She just sat tight and kept on mixing the dough for tomorrow's baking.

tossing her wifehood out the window. Not having a divorce court just around the corner may have prevented that, but the fact remains that she also regarded the status of wife and mother as a

warm and secure. And

fle 3 Jom, lok of hi et rosin an

Her pride is wounded—naturally. She will be a |

I don't know where we ever got the idea that a)

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Foreign money has gone

tween a modest American investment and the enor- |

| brackets.”

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I think that is true. But |

In short, she can't hold her hus-

Certainly she did not make the miserable mistake of |

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who purchase from purported agents of the Gas & Coke Utility? Answer that, Mayor Sullivan. Why not give the home consumers of coke the direct benefit of the agents’ commission? It is nothing short of exacting tribute for something that is supposed to be the property of the Indianapolis citizens in fee, { What assurance have we the taxpayers of Indianapolis will not be compelled to pay tribute for the use of water in addition to what we already pay? The price asked for the Geist heirs water company property is more than 10 million dollars too high. I say 10 million because property depreciation is always present and replacement | costs always are an ever-present! necessity if the property is to serve the consumer properly. There is no cconomy in buying the water company. Now is the opportunity to stop this new prospective white elephant being unloaded upon us taxpayers who will . . . have to add as much as $5 a year to our tax bill each vear because of politics. Let's stop it right now! Let's have a referendum!

be suits, desks, pencils, automobiles or entertainment—and instead of lamenting the fact that a business is “dead,” it would be wiser to spend that time in creating a superior product or service the public can use. Don't sell America short!

#8 8 RESENTS CRITICSM OF TRAFFIC POLICEMEN

By Reader

In Saturday's Times there was an article in the Hoosier Forum entitled “Fears traffic off to bad start” written by “An Observer.” He seems to be criticizing some of our young policemen quite severely. It seems to me the head of our Police Department—if I judge right —is in every way capable of judging the work of our young policemen. This traffic problem may be new to this one young policeman. Give him time to show what he can and will do. This traffic problem is quite a trying workout. It seems best not to refer to them as “rookies” for their work is not to be envied.

WITHIN REACH By RUTH KISSELL

If it is happiness you're wanting Heed these words I say:

$f & 8 CITES OPPORTUNITIES AVAILABLE IN U. Ss.

By Gray Gerdon, New York

The entertainment field seems to serve as the best example of the opportunities offered an individual under our democratic form of gov- | ernment. In the amusement world, more than any other large-scale industry, the chances for obtaining “over-night” success have been, and always will be, great—regardless of what the pessimists contend. To those who feel that the entertainment field is waning, iet me acquaint them with the recent contract signed by a fellow maestro, Artie Shaw, with a recording company which guarantees him $100,000 | for the next two years. His other| income from theater dates, motion | pictures, one-nighters, radio pro-| grams and miscellaneous sources | will place him among the “higher | The fact that Shaw was “in the red” only three months ago, serves as a compliment to his genius, and as a “shot in the arm” to musicians and entertainers in general. Is there any other coun-| God. —H. M. Field.

“Have you seen the daisies at your feet Are you picking a bouquet?

Or looking at the winging birds Do you want to fly as they?

Happiness is there before you; Work as you struggle on.

| Standing, staring makes you blue, The winning goal is just beyond.

DAILY THOUGHT

Have we not all one father? hath not one God created us? why do we deal treacherously every man against his brother, by profaning the covenant of our fathers?—Malachi 2:10,

HERE is no ‘brotherhood of

{acter in the child.

We need more public officials who are in harmony and sympathy with the Christian warfare against sin and immorality, which is on the increase in our city and nation. With enough men and women in office of the caliber of Judge Bradshaw, a great change can be made in our crime problems. We hope that the laxity and license which is evident on every hand will some day be| curbed by conscientious officials who | will act to help save our children | from the present drift toward reck- | less immorality which eventually lands them in court, or worse. Lack of law enforcement, looseness in public conduct and laxity in|

man without the fatherhood of

parental control all make it easier | |to fill Judge Bradshaw's court with | delinquents,

| s 9 TAX CUT WOULD MEAN (MORE PROFITS, IS CLAIM

By R. Sprunger | Even if taxes were lower the | capitalistic controllers would get | What was left by increasing their (profit grab the same as they do now. Improvements in steel mills have displaced 85,000 men . recently and more steel will be produced in less time. What's to be done with these (men? Who is going to make more profit by this? The capitalistic owners, of course, and not the workers. Capitalism is not interested in the welfare of the people. It is interested in how much profit there is in any project before it makes a move. One Forum contributor says speculation caused chaotic conditions. He is right but speculation is the lifeblood of capitalism. Who got what many people lost in Florida? Their money vanished right into the pockets of the capitalistic gamblers and profit seekers. He says the Government is spending taxes that are not due until 1960. That is ample proof that the present economic system exists on “watered” stock, credit and borrowing on the future. If actual wealth were suddenly demanded for all credit extended this zany system would explode immediately,

LET'S EXPLORE YOU

RE OREN s YOUR OPN/ON wre

CERTAINLY. Many women will, On the other hand thousands of undergo any sort of torture for| women risk operations to pre-

profoundly noble calling, It was for her a garment, beauty. Several noted dancers have vent motherhood every year lest » no matter what her husband refused operations Bo Shpta

their beauty be marred. t|ser scale women HU measures

on ot

By DR. ALBERT EDWARD WIGGAM

R MIND

some of which cause death, especially reducing drugs that con-

tain dinitrophenol. » 2 ”

IT 18 not safe to say anything is impossible, but the pill diet seems improbable. As C. C. Furnas, Harvard scientist, points out our bodies need proteins, fats and carbohydrates (sugars and starches) in

large quantities and these are pretty nearly ultimate substances that cannot be condensed to any great extent. Furthermore, the human stomach and intestines re-| quire bulky foods to work on. We'd have to make over the human body to fit a pill diet and that too looks both impossible and undesirable.

" » ” JUST before New Year's day, 1939, a survey found that 28 persons in every one hundred made New Year's resolutions and that more women than men resolved to be “bigger and better’—at least morally, mentally and financially during the following year. The commonest resolution by both sexes was tn save more money. Next to this men resolved to do a bigger business and cut down on smoking and drinking while women resolved to improve their characters and dis-

On a les- tions and go to church more| take all sorts coin. ave ou noticed thee i body.

It Seems to Me By Heywood Broun

Russian News Is Disconcerting; Doubts Champagne's Cultural Value.

EW YORK, May 19.—A recent announceme’ from Russia has been favorably received In quarters which, on the whole, have been highly crit ical of the Soviets, I refer to the cablegram setting forth the fact that more than a million magnums of champagne have been produced within the last year in Russia and that the beverage is being pushed as a rival to beer and vodka on the ground that it bag

greater value as “a cultural drink.” I hope that some Marxist scholar with a nics taste for wines will tell his comrades that they a »° falling into a bourgeois error, Champagne is the mi : and honey of the middle classes. It is the favori » drink of the all-day sucker. I cannot pretend th my own palate is delicate, and I have never turne l up my nose at champagne when anybody offered it to me. On a warm day, with a large hunk of ice, it is a refreshing beverage. And the same thing goes for sarsaparilla or lemon soda. My own chances of ever being a connoisseur wera blotted out in the bleak days of prohibition. Before the St. Bernard of repeal came galloping up to rescue the brave little band of us who were roped together. my sense of taste was wholly gone.

Dr. Johnson's Opinion

But my father was a student who knew the signe posts along the wine trail, and I remember well his: declaration that Burgundy is the noblest product of - the vintner, Champagne was 'way down in the list. And, though I cannot pose as an expert, I think the standing of the dizzies of waters depends wholly on the fame which has come to it through fiction. The stage and silver screen also have been kind. Even in the days of silent pictures the wealthy villain who lured the girl to his rooms always left instructions with his inscrutable valet to put a bottle of champagne on ice. And when “sound” came in the wine ; was even more firmly established as the lure to be - offered by those with dishonorable intentions, When the trap is sprung the cork pops with all the sinister warning of a shell sent across the bow of a merchantman. You can’t do that with Burgundy--for, of course, I am not speaking of sparkling Burgundy, which is no more than a poor relation. It is, indeed, . a sort of pink champagne. But what has the drive against virtue to do withthe fostering of culture? The world’s most famous conversationalist did not even mention champagne when once he deigned to talk to Boswell on the sub<" ject of potables. As I remember, Dr. Johnson said that claret was a boy's drink, port the wine for & man and brandy a hero's beverage.

Watching Your Health

By Dr. Morris Fishbein

T'S the night of a championship prize fight. Two fine specimens of physical fitness attack each other with their fists for 15 grueling rounds. Next day you" read that each of the gladiators will take a three month rest before resuming even light training. But do you know why they were ordered to the. sidelines? Were they worn out? Yes, but the answer can be found in an examination of what happened to

their blood during the battle. 4 With each jab, each blow absorbed, each round, each knockdown, those fighters used up an abnormally. large number of the red blood cells in their bodies. If you are an average man or woman, during your average day you destroy in work and play, according to one expert, 450 billion red blood cells, about ones sixtieth of the total number. But you are constantly pbuilding new ones and are exerting yourself nowhere near as much as the fighters. . Men have an average of five million red blood cells: for every cubic millimeter of blood, women 4,500,000, Anywhere between 4,700,000 and 6,300,000 is normal* for a man, between 3,600,000 and five million for a. woman. - You need plenty of red blood cells because they” carry the oxygen which is ahsolutely necessary for muscular activity. The red blood cells have within ' them a substance called hemoglobin, red coioring mate ter. The oxygen becomes attached to the hemoglobin and is released to the cells of the body, Also in the blood are white cells, varying in number from 5900 to 7000 for each cubic millimeter of blood,,

They protect the body against germs and assist

various cise,

Shier functions 2a the Droteq five Agency of |