Said he: "I am surprised and astonished. . . . I do not know how such a story ever got started."

Headlined The New York World: "Fee! Fi! Fo! Fum! List to the Numb-ing Tale of the Tiger and the

Keystone

WHILOM-EDITOR STEED "Fee! Fi! Fo! Fum!"

Welshman as Spun by Wickham Steed. ... No One Else Ever Heard of It."

While they awaited the book, U. S. newspaper readers reflected that, of all journalists at the Peace Conference, whilom Editor Steed was probably as near the inner machinery as any; that of all temperaments assembled at Versailles, those of Lloyd George and "Tiger" Clemenceau were perhaps the fieriest; that if such a quarrel had come to pass, it must certainly have been hushed up; that of all reputations, Mr. Steed's was a most excellent one for veracity; that, of all times, the present with Wilson dead, Lloyd George obscured, Clemenceau retiredwas as convenient as any for publishing the anecdote.

On the other hand, few men as brilliant and vivacious as Wickham Steed are not also imaginative.

Catholic

Faith, Hope and Charity were attendant upon the birth of a new public print, The Commonweal, "a weekly review of literature, the arts and public affairs." A maiden issue appeared last week with the announcement that the spirit of the famed triumvirate would be the newcomer's guiding intention.

An introductory editorial explained further that The Commonweal would be "definitely Christian in its presentation of orthodox religious principles and their application to the subjects that fall within its purview: principles which until now have not, we believe, been expressed in American journalism ex

the various denominations. . . . But it will be in no sense . . . an authoritative or authorized mouthpiece of the Catholic Church. . . . Its pages will be open to writers holding different forms of Christian belief, and in some cases to authors who do not profess any form of Christian faith. . . . It will be an open forum."

Presenting much the same physical appearance as The Nation and The New Republic, The Commonweal employed much the same compositional formulæ as those two magazines. Its 28 pages contained: "a leader" concerning politics; two pages of running comment on current affairs; seven special articles; a page of verse; two of play reviews; a "quiet corner" of book talk; book reviews.

strongly

But only physically did The Commonweal resemble The New Republic or The Nation. As well written as they, it directed its efforts to progressive, non-partisan conservatism, colored by Roman Catholic thought, in contrast to their enthusiastic modernism, strongly colored by socialistic thought. Thus, The Commonweal's pledge of fealty to the President-elect digressed long enough to quote Plutarch: "There never was a state of atheists . . .", and to sketch the mystical conception of God as a great Will, pervading all things. Thus, also, an editorial excoriated the anti-Catholic Klan, another the salaciousness of newspapers, another The New York HeraldTribune for its sweeping headline: "Religious Conditions in South America Are Similar to those of the Middle Ages." Play reviews called What Price Glory? "interesting . . . as a discussion of the life, habits and beliefs of the Negrillos is interesting"; and The Werewolf "undoubtedly the best example of the kind of play which should never be produced at all." Religious broadmindedness was plainly intended to be the implication of a note congratulating the editors of The Menorah Journal (Jewish) on their AugustSeptember issue. Of the longer articles, one was by G. K. Chesterton, Religion and Sex, another by B. C. A. Windle, Science Sees the Light.

The Commonweal's publishers were announced as The Calvert Associates, Inc., "a membership society incorporated under the laws of the State of N. Y." This body, deriving its name from George Calvert, Lord Baltimore, founder of Maryland, plans also to support activities other than its publishing, through local groups the country over.

Significance. Jewish publications, of whatever character, inevitably express the Hebrew faith. The editors of The Commonweal, while notably receptive, at once identified themselves as watchful guardians of the Petrine Rock. When their magazine appeared, many reflected that, though tacitly represented by scores of unofficial publications, Protestantism has no lay organs definitely and forthrightly wedded to its cause. Split two ways, into various denominations and into various

Moreover, not being greatly give organization, it is doubtful that Prote tantism will ever seek to have them

"Red Magic"

The New York World last we burst forth with pages unique to L. newspapers. These pages were cal the Red Magic Section and were vertised prior to their appearance pages personally edited by Harry Ha dini, President of the Society of Am can Magicians.

Red this magic section was-red v ink. Magic this section was not, s as parlor tricks and picture puzzles z magical. One was not taught how exorcise satanic presences, to stir a cauldron fraught with "eye of newt a tongue of toad," to draw a charme circle or utilize the mystical phases the moon. "Magic" was used in popular, journalistic sense in nam the new section. And a popular, high successful journalistic departure t new section promised to be. It re minded readers of the "find-the-face picture puzzles once run by the Bra lyn Daily Eagle, expanded, colored r bigger and better in every way. The was the letter puzzle which comes ou "Wise you are, wise you be. I see y are too wise for me." There was the well-known optical illusion of the ele phant swallowing a peanut. There was a well-known matchbox trick, fully explained diagrammatically.

A note referred the reader to the World's Magazine Section-where were set down little-known facts about Harry Houdini: that he was born to th name of Weiss, son of a scholarl rabbi; that he took his name from a French magician, Robert Houdini; the his "greatest trick" is allowing himsel

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Current Station

After the election results were received and digested by the public, the stock market proceeded to go immediately on record as optimistic of the business future. The obliteration of La Follettism removed a heavy prejudice against rail securities; at the same time, basic industries like steel and oil gave signs of expansion and higher prices.

Money shows a slightly firmer tendency, despite the fact that call funds have again gone back to the 2% midsummer rate. Nevertheless,

the overwhelming sufficiency of funds here precludes much danger of an action in interest rates according to over-rigid ideas of business cycles.

The recovery in Europe occasioned by the adoption of the Experts' Plan is generally recognized. Foreign funds are being withdrawn from Manhattan, which is one important factor in rising exchange rates for sterling and other European currencies. Large sums are reported to have been already advanced by banks to foreign industries and enterprises; at the right time, these banking advances will be funded into security issues and offered to the public. Thus far no very risky financing has been undertaken. The time for that to develop is later.

The signs now point almost unmistakably to business prosperity next spring. But those who are bracing themselves to see miracles will probably be disappointed.

Stock Market

Zoom, zoom, zoom, zoom-louder and louder rumbled the big bass drum of Prosperity where they were beating it (TIME, Nov. 17) in Wall Street. The great bull days became a great bull week, the greatest in 20 years.

In ten post-election days, 18,717,732 listed stock shares changed hands in the Big Bull Ring. Of these millions, over eleven and a half went in the week of Nov. 10, more than ever before save in the panicky May weeks of 1901. A total of 689 issues were dealt in a new high for all time. Wall Street tried to assess the market's appreciation while the booming continued and the rough figures

The customers came in thr but calm throngs. It was the lic's market, with a ticker 15 minutes late and no frenzied watching for the plays of prot sionals on the floor. The usual figures were pushed right out of picture.

Who was spending? As near' i could be told, the small investor following his large traders, we men reassured of the immediate # ture; the wealthy lay figure liquidating his pool; the foreig was stepping in, especially for r It was free and open spending out cliques and market-fights.

Who was reaping? Fortunes a a-making, but not many, men The pools, of course, came in for main harvest. William C. Dur motors man, was known to h profited on paper by between 10: 12 millions in his remarkable "cr man pool" in U. S. Cast Iron Pipe

Well-defined lulls of profit-taki came, but still the booming reawa The end was not yet.

Advice

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Old Mother Yale rushed to the Princeton cupboard. Her bull-dogs hungered for bones. When she got there, she was agreeably surprised to discover a tidy store-a field goal, a touchdown. The field goal, as fine a specimen as ever was seen, was executed by Halfback Scott at the Princeton 45-yard line. The touchdown was deftly forward-passed by Halfback Pond to Tackle Joss. Princeton's portion was the same bitter, black medicine she had administered to Harvard the week before, medicine that many have to take after dining richly. Score: Yale 10, Princeton 0.

Further misfortune befell Little Red Riding Harvard. This time the grandmother was Bruin Brown. A wild backward pass from ActingCentre Robb of Harvard flew over Halfback Mather's head, was snared by Keefer, visiting halfback. Forward passes brought Brown near the Harvard goal. Klump clumped over. Spectators at this game eyed with interest the Brown centre, Eckstein, vendor of blood.*! Score: Brown 7, Harvard 0.

At West Point, Columbia piled into the Army most manfully. Cadets Wilson and Gilmore ripped through against her, but Koppisch, Pease and Empringham ripped right back. Had Pease not permitted the ball to slither from his grasp on his own 4-yard line, the score might not have been 14 to 14.

Influenza and other ills were in the chilly breath of a pestilential slushstorm on Franklin Field, Philadelphia. Yet 54,000 hardy perennials sat by to watch Penn and Penn State struggle through a punting duel in the mud. Back and forth sailed the slimy ball, each team trying a field goal now and then. The mud won. Score: Penn 0, Penn State 0.

In Manhattan, grim men from Dartmouth and Cornell grappled at the Polo Grounds. Finding the Cornell line muscular, Dartmouth swept the ends, peppered 31 passes. Cornell stuck to her plugging game. The upshot was 27 to 14, Dartmouth's first success in four years against the dwellers "on the gray rock height."

Rugged Rutgers rolled up only six touchdowns against New York University. The lighter team's spirit was commendable. Even with hulking Homer Hazel's All-American

*This fall, to help pay his way through college, Centre Eckstein sold four pints of his life-blood at $25 a pint, to anemic patients. Had his coaches not remonstrated. he would have sold more.

Who suddenly killed Cock Robin "I did!" cried Minnesota. "I mara him sure. I wounded him sore Robin Red Grange, most brillian: backs, took the field at Minneapols with his fellow Illini and at ong raced off around end for a tours down. He started other races, br Minnesota ends crashed him, Minn sota secondary defense heaped up him. In the second period, he subdued. In the third, his arm h limp, he left the field for the season Meanwhile, Minnesota's offense plunged, pounded, plowed. Illino sank back to third in the Conferenc standing. Score: Minnesota 1 Illinois 7.