Richmond Palladium (Daily), Volume 92, Number 105, 3 May 1922 — Page 8

'AGE EIGHT

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, RICHMOND, IND., WEDNESDAY, MAY 3, 1922.

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fir NEWS

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1JC 1 1

William F. Starr, of the Keystone apartment, has announced the engagement of his daughter. Miss Margaret Grubbs Starr, to Dr. Louis F. Rosa. The wedding will take place during the summer. , Mr. and Mrs. John II. Nicholson, of East Main street, will return Saturday from an extended trip through the south. They attended the KnUVts Templar conclave in New Orleans, La., and later went to Kansas City, Mo., wher they visited their daughter and son-in-law, Mr. and Mrs. Edmund L. Hiatt. Mr. and Mrs. Bert Kolp will entertain with a class dance for all members of their first and second term

classes Friday evening. May 5, at the I. O. O. F. hall. Kolp'a orchestra will play the order of dances. The party will be from 8 o'clock to 11 o'clock. All members of this year's first and second term classes are extended a cordial Invitation to attend. Announcement is made by the Phi Delta Kappa fraternity of a dance to be given Monday evening, May 15.

The Wright orchestra, of Columbus

of Miss Mary Way on Soujth Twelfth street, to go on a hike.

The Woman's Missionary Bociety of Trinity Lutheran church will meet Friday afternoon at 2:30 o'clock In the basement of the church. The meeting of the Star Bible class to have been held Wednesday, has been postponed until Monday evening, May 8, when It will be held at the home of Mrs. Frank Kinert, on North Twenty-first street Russell Sink, of ElPaso, Tex., Is visiting his parents, Mr. and Mrs. Edward Sink, of New Madison, O. Mr. Sink is United States deputy marshal in ElPaso and has resided there for the last nine years. Miss Merle Sink, of Greenville, O., and Russell Sink, of ElPaso, Tex., were in Dayton, O., over the weekend. Mrs. Alfred Harvey, who fell last Sunday and fractured her knee, is improving very Elowly. A picnic day for parents of Joseph Moore 6chool children will be held at the school Friday, marking the last

STRAWS WHICH SHOW WHICH WAY FASHION WIND BLOWS

among dance organizations. The Hagerstown Garden club will give its annual May dance and entertainment Thursday evening. May,, 4. at the Knights of Pythias temple in Hagerstown. Mr. ad Mrs. Bert Kolp are

in charge of the affair. The Kolp or-

Ohio, will play the order of dances. J Parent-Teacher association gathering

The orchestra is a noted aggregation " ""a c"- "V ,

ily is asked to bring its supper, cups, plates and silver. A musical program will be given at 7 o'clock in the evening by the school. All parents are urged to attend. Friday is to be par

j ents' day at the school, commencing ;

at x:mi o'oinolr Knrtnv mnrnmEr witn

chestra is to play the order of dances. ) cnapei exercises and a play by the

fax trtsS ' . - ; K ' X- A B'Vs Nff

r jar i

The chin chin shape trimmed with beads, embroidery or straw ornaments is usual this year for suit hats. Flower trimming on large hats is going to be . the accepted thing for dress wear. Here are four new hat models from exclusive millinery displays. A suit hat is shown at the upper right.

NICHOLSON RECALLS !

HISTORY OF EARLHAM IN TALK TO SENIORS The annual senior day chapel exer

cises, in which the members of the

senior class appear In caps and gowns for the first time, were held at Earlham this morning. Timothy Nicholson gave the address to the seniors. Mr. Nicholson recounted the growth of the college since he first became acquainted with it in 1861. He stated that the observatory was the first building of its kind to be erected on a college campus In the state and

also that the Parry Hall science laboratory was the first separate college building for this purpose in Indiana. Mr. Nicholson was the chairman of the building committee of the board of trustees when the science building and Lindley Hall were erected. He als-o cited several interesting features in regard to the beautifying of the campus and stated that he remembered distinctly when the trees of the college drive were planted. Mr. Nicholson said the senior gowns

were held as "a symbol of liberty" in college. President Edwards urged student body to honor seniority In college standing.

ments, buy cars, extend their lines and develop generally. The lesson to be drawn from Dr. Muller's analysis seems to be that the investor can take his choice between A fnroctmonf In Which

ithe property that secures his loanJ"

practically certain or remaining miacx because it is a necessary public utility, but which, under existing laws, cannot pay more than 6 per cent, or an industrial investment which, if all goes well, will pay perhaps twice as much as the railroad, but which may Buccumb to commercial disaster.

INTERESTING FACTS The Philippine Islands export more cocoanut oil than any other district In the world. Excavation In Mexican ruins has revealed roads paved with huge block of stone. Bacon is more than twice as valuable as rump steak, from the focd point of view. -

The grand march will begin at 8:30

o'clock. v The Suburban Home' Economics club will be entertained by Mrs. Albert Gilmer at her home on the Williamsburg pike, Friday, May 5, instead of Thursday. An all-day meeting is called for that time. Maumee Council No. 4, Degree of Pocahontas, will meet Saturday evening at 7:30 o'clock in the Red Men's hall. A full attendance Is desired, as

an entertainment is to be given after i desired.

the lodge meeting. The Hibberd Parent-Teacher asso

ciation vill meet Thursday afternoon at 3:30 o'clock. Election of officers will be held at that time. A talk on "Religious Training a Child Should Have in the Home" will be given by Mrs. Allan D. Hole. A detailed report will be made by the treasurer for the year, and plans for next year's work will be discussed. All persons who have not contributed to the Victrola fund are asked to either bring or send their contributions. A large attendance is requested.

fourth grade. The annual school ex

hibit will be held at 2:15 o'clock in the afternoon, following which there will be a basket supper at 5:30 o'clock and a music program. Parents who can are inrited to come and stay all day. The Ladies auxiliary of GennLichtenfels post, Veterans of Foreign Wars, will hold an important meeting Thursday evening at 7:30 o'clock at the club. A good attendance 13

The Troubles of the Railroads By FREDERIC J. HASKIN

j not nearly so heavily mortgaged at any time during the period as the railroads.

iThe funded debt, that is, the mortgages j ard, have got the best of it.

"Richmond's Daylight Store"

EXPECT TO CAMPAIGN FOR FUNDS TO BUILD MEMORIAL STADIUM

(By Associated Press) LINCOLN, Neb., May 3. A campaign looking to the ultimate erection of a memorial stadium at the University of Nebraska, to cost aftout $300,-

A lie Illiuuu ccnuig tliuc will uirct . . ,. v Kridav afternoon with Mrs. John Sll- 000 and proviue seating space for be

gar at her home on South Twentyfirst street.

tween 20,000 to 25,000 people, is ex

pected to be undertaken by university alumni durine the comine year. The

The Goldenrod Needle club will be!fun(j wni be raised by subscription

entertained Dy Mrs. ta. wiiKins on i anlj applied to its erection in sec-

Thursday .afternoon at her home onjtions. The committee that has the

Linden avenue. All members are re-, nroiect in charge desires to have a

WASHINGTON, D. C, May 3. Throughout the winter the Interstate Commerce Commission has been engaged upon an Intensive study of fixing railroad freight rates to provide transportation for American business at reasonable charges and at the same time to enable the railroad corporations to earn a fair return on their

investment. This is a tremendous un-! dertaking. The commission has heard thousands of pages of testimony from

experts representing railroads, shippers, investors and the general public. One of the most difficult problems involved Is how much the commission should be guided in fixing rates by the need of the railroad companies for revenue adequate to pay dividends to their

stockholders. There are two diametrically opposed schools of thought on the question of rate making in relation to return. The railroads maintain that the commission should consider the amount of money invested in railroad property, equipment and cost of operation and then fix a rate which will yield a fair return say 6 per cent on this capital sum. They say that they are regulated and not in the free market of competition and therefore should have rates

fixed on a basis which will guarantee earnings. In opposition, the shippers present some such argument as follows: A

.man owns two houses. Both cost him

quested to be present. The Ben Hurs will

Thursday evening, it i3 announced. No more dances will be given Thursday evenings this season. The Modern Priscilla Needle club will meet Thursday afternoon with Mrs. Frank Aikin at her home. North Seventeenth street A card party will be given by St. Joseph's Commandery, 172. Knights of St. John, Thursday evenins: in the Lyceum rooms, beginning at 7:45 o'clock. Euchre and sheephead will be plaved. The public is cordially invited. The

committee arranscin? the narty is com-;

nosed of E. G. Balling, G. A. Weasel, P. C. Cox, R. W. Dehner and H. A. Maurer. The regular meeting of Denver Brown camp, No. 20, and Ladies' a'uxi'iary of the United Spanish-American War veterans will be held at 7:30 o'clock Wednesday evening at the court house. All members are invited to be present. Misn Meta Weymnn will be hostess to the Sigma Kappas Wednesday evening.

Daughters of America hpir regular meeting at Wednesday evening, in

hull. The Wedorfo club meets with Miss Marie Wrede, of Randolph street, on Wednesday evening. Mrs. George Klute will be hostess

: section to seat 7,000 completed for give no danco ' Home-coming Day, this fall.

Present plans can tor a reintorcea concrete stand of 35 or 40 tiers of seats: a quarter mile track with a straight-away of about 220 yards; a playing bowl six feet below the- surface of the ground, running north and south and opening at the south end. It would be located on the present site of Nebraska field. The money would be sought among alumni, students and the general public. More than $15,000 already as been subscribed toward a fund that was to be raised by the alumni and

light on the relative positions of these two important business groups. The man in the street who works for a salary, sometimes has difficulty In thinking of money as financiers, industrialists and economists think of it. The fact is that money in the large business sense is a commodity just as

potatoes, shoes, wheat or steel are com-1 consideration

muuiuw. us ynce auu avajiauimy are determined by the laws of supply and

demand Just as in the case of other goods. Money has a price as much as cigars. The price of money is expressed as interest. In reality, it is rent. A given amount of rent is paid for the use of money for a year. The rent is high or low in accordance with the abundance or scarcity of idle money and also in accordance with the relative risk involved of losing it or getting

it DacK at the end of the lease. If a man is sure he will get his money back he will rent it for a lower figure. Many men are willing to" run a slight risk in order to earn the higher rent for the use of their money which a risky investment pays. No-one is willing to run very much of a risk. Capital, that is money, is the most timid commodity in the world.

Jiow ur. Muaer nas studied a group of railroads and a group of industrial companies for the ten-year period from 1911 to 1920, inclusive, to ascertain

I which group pays the best yield.

One thing which governs the safety

$5,000, including land and building, i of an investment is the amount of

But one is better situated or better money already advanced on the secur-

matched with a state appropriation of $250,000 for the erection of a gymnasium. The legislature has .withdrawn the appropriation and the alumni committee expects to undertake the erection of a stadium.

It has been impossible to crowd more than 7,200 into the present field. With the erection of seats ranging in cost from $3 to $15, the committee plans to cut this figure by grading down the playing level and laying some of the seats on an earthern

i lounaaiion.

will hold I

O U UliJl. tv Campfield

Fire Guts Machine Shops; Estimate Loss at $50,000 (By Associated Press.) PITTSBURGH, May 3 Fire of undetermined origin early today badly gutted the machine shop of the Jones

designed than the other,

He can get a rent of $50 a month for cne house, but only $40 a month for the other. After holding them for some time he desires to sell. Prospective purchasers investigating to learn what these properties were actually worth would find out what rent they yielded the owner. Upon discovering that one house paid a return of $40 and the other $50 they would offer a higher price for the $50 house than the other. In other words, the value of a property must be determined by its earning power. The rule sought by the railroads is the reverse, that is, the earning rate must be fixed arbitrarily by the cost of the property.

Commission Must Judge

This gives something of an idea of

the difficult problems which arise in connection with rate regulation. Both sides have their champions. The commission must decide between them. To

obtain the best available information, I

the commission gathers elaborate data. Such a study recently has been made by Dr. Jean Paul Muller, an attorney, accountant and economist of Washington. He has made a critical survey of the relative value and earning power of a group of railroads and a group of industrial corporations. The figures produced by this study throw valuable

ity offered

Much Money In Roads

Dr. Muller's figures show that for

this ten-year period more money already had been invested in the railroads than in the industrials. By industrials is meant manufacturing enterprises and the like. The figures show that for the ten years, approximately half of the value of the railroads was mortgaged. The figures for the mortgaged portion range from 53.05 per cent in 1911 to 47.08 per cent in 1920. The surplus, that is, profits, for this group range from 7.88 per cent in 1911. to 17.68 per cent in 1920. This shows that the railroads progressively

got into better financial shape. More of their property was free of debt and they had larger surpluses at the end of j the ten-year period than at its begin-! nine. I

However, the industrial group was

only 19.50. By 1920 it had declined to 11.69 per cent,- Also, their surplus increased, ranging from 13 per cent in 1911 to 32.14 per cent in 1920. But railroads constitute an absolutely essential public utility. 'They carry the mails .they convey the public about Its business, they transport the freight of the nation. The railroads must endure. The government would not let

them go out of business under any

They constitute a per

manent fixture in the community. Industrial corporations do not have this absolute solidity. Great companies sometimes fail dismally, no matter

how strong they appear, and smaller ones grow up and become. a new gen-! eration of great ones. Industrials are! changing; railroads are less so. This j means that the security of the Indus-j trial stock or bond is not so firmly

based as the security of the railroad obligation. Therefore, although on the

surface it appears that the relatively low debt and large surplus of the industrials would make them always pre

ferred when compared with the more

heavily encumbered railroads, the

greater solidity of railroad enterprises

must be set against this. Industrials Pay Better The people who are willing to take

a chance on the industrial securities, ' many of which are almost as solid as j the treasury, get higher returns. In! 1911, people -who rented their money ; to the railroads got $4.83 a year for each $100. People who rented their j money to industrials got $6.50. In 1920 the railroads paid $4.03 rent a year for ; money, while the industrials paid !

$8.30. These are Dr. Muller's figures. He points "out that the ten-year period has resulted in overcoming to some degree the equality of the competition ten years ago and that now the

industrials, despite their greater haz-

They pay

so much higher rent that people are

willing to take a chance to get the'

greater return. j Not until this analysis was made by Dr. Muller were any definite figures available on just what handicap was faced by the railroads in getting the use of money. The Transportation Act limits the amount of dividends which railroads can pay to 6 per cent. This limitation Dr. Muller regards as unfair as, he claims, it places the railroads at a disadvantage in comparison with the industrials in obtaining the use of money which they need to make improve-

Spring Hats for Little Girls Moderately Priced NOLDER'S 39 North Eighth Street

VERY SPECIAL Van Raalte Silk Jersey Vests

Finest quality Silk Jersey Van Raalte Vest, with Jersey shoulder straps, beautifully made and form-fitting; a $2.25 Vest at the unusual price, of

$1.98

ANDERSON'S

& Laughlin steel company's mills in

to the Cosmopolitan club Thursday af- j the south side district here, causing

i 1 I U H ) n ell 1 ! I I uuuitr jii ouui.it i ii i Uciiiici3" trai-niKxttru at. . , v u ' vw.wwv. -

trenth street.. The fire broke out about 2: 4o o ciocK The Young Men's Institute will j and three calls were sounded. It was srive an informal dance Thursday eve-(under control, however, shortly more

nt thp i- rlnh. South Firth and un a" uur in-it-i.

nimitinliiiiiniiiiiinifiiiiiiiiHititiiiiifiiiiiiiiitliiHtiiitiimiiiiRHiftHtiiiiiiiiiiiiii

i in rr

('streets. Miller's orchestra will play The principal damage was in the

r.v,l0T- nf i aesirucuon or vamauiB matuiueij,

while the poasnmg aepanmem

Miss Clara Pound will be hostess to the Hospital Aid society Thursday aflernoon at the hospital. All women

havinc no way to go are to meet

the Tenth street entrance of the Hotel Westcott at 2:15 o'clock. Mrs. Kd Wilkins will entertain the Goldenrod Needle club Thursday afternoon at her home on Linden avenue. The Semper Phi Delas club will meet Thursday evening at the home

also

suffered considerably. The blaze was rftnfinpd nrinciDallv to this building.

of the plant.

"Special attention paid to other

girls' fellows" is the invitation extend

ed by a New York manicure parlor, in large letters, on a sign that is being

carried about the downtown streets.

4

i fHIRHPR AfTHPQ tJ

i G. C. WILCOXEN, D. C. 3) ' -C. H. GROCE, D. C. ; 1220 Main StPhone 1603 .1 i 1 .

Insist on I 1 1 1 GOLDEN CREAM I Olt ii

I BREAD I 1 At Your Grocer', j GlaSS

IfllSPhone 2807 I 1 1 til

:j v. ' i

: : 1

i : Ji m 1

.

Mother's Day Cards Folders and Booklets

Remembrances for mother my other mother mother of my child. And don't forget Dad. Make selections while the assortment is complete. Graduation Cards and Folders x Arts and Craft Jewelry for the graduate.

Richmond Art Store 829 Main St. Richmond's Art and Gift Shop

R

hum

Trade-Mark

King

That tasty PECAN CHOCOLATE-COVERED CREAM center quality piece now offered for. .

10c

ON SALE BY THE FOLLOWING DEALERS:

Hoover's Confectionery Phil Zuttermeister Westcott Pharmacy Murray Poolroom J. M. Eggemeyer & Sons R. Devinney, South Sixth St, Malvern Soper J. R. Brumley Thistlethwaite's Drug Stores

E. J. Hill Cigar Store Quigley Drug Stores Ed. Feltman Cigar Store Fosler's Drug Store W. M. Hickey Toler's Drug Store Ed. Dintaman Schwegman's Confectionery

Manufactured Exclusively by The Kandy Shop

919 Main Street

WARNING! Say "Bayer" when you buy Aspirin. Unless you see the name "Bayer" on tablets, you are not getting genuine Aspirin prescribed by physicians over 22 years and proved safe by millions for Headache Colds Rheumatism Toothache Neuralgia Neuritis Earache Lumbago Pain, Pain Accept only "Bayer" package which contains proper directions. Handy "Bayer" boxes of 12 tablets Also bottles of 24 and 100 Druggists " Aplrtn U th. tr.d. mirk of B7er Manufacture of Monooctlcacltotcr of SallcyUcadd

Sport Oxford

Come in and see the new one

Grey Elk, black calf trimmed Queen Quality grade

$750

it

SHOE

STORE

aofMJUx

UP

11

The Of

GREATEST SALE RUGS Richmond

Has Ever Known is now in progress at this Big Underselling Furniture Store. Hundreds of the finest Rugs ever offered are here for you at prices that will actually shock you.

TAPESTRY BRUSSELS RUGS Bigelow make, size 9x12. one special lot, all good patterns, offered this week only at the low price

$13.98

COCOA DOOR MATS Size 14x24, very special

RAG RUGS For kitchen or bathroom, sizes 27x54

$1.00

98c

SEAMLESS VELVET RUGS Size 9x12, one special lot. all good patterns, offered this week only at the low price $22.50 AXMINSTER RUGS Alexander Smith make, size 9x12, one special lot, all good patterns, offered this week only at the low price

$27.50

Weiss Furniture Store 505-507-509-511-513 Slain Street Richmond's Greatest Underselling Furniture Store h

; v.