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with this basic food


URING the critical years of growth-from 3 to 16-your child needs special food to keep up his weight and vitality. It is the only way to protect him against the danger of malnutrition and the other diseases that follow in its wake.

He must have nourishing digestible food which will replenish the energy he so quickly uses up. Eagle Brand Condensed Milk is just the food for growing children.

For Eagle Brand-pure country milk combined with cane sugar-is rich in nourishment and exceptionally digestible. It contains all the elements which promote healthy growth and development. Its sugar content supplies the energy a youngster needs, especially in cold weather when his resistance is apt to be low.

How to serve Eagle Brand Many mothers are now giving Eagle Brand to their children regularly. They find that daily feedings, together with the observance of certain fundamental health habits, bring marked improve

ment in weight, appearance and gen

eral health.

For a plain drink, dilute 2 tablespoonfuls of Eagle Brand with 3 cup of cold water. Use standard measure, pouring the milk from the can. to the spoon. Serve this to your child twice a day, between meals. There are many other attractive ways, too, to serve Eagle Brand. Spread it on crackers or bread, make it up in cocoa, eggnogs, or in simple dishes like custards, gelatine desserts, etc.

3 Little Books

give menus and recipes 3 Little Books, published by the Borden Company, give recipes and menus telling you just how to use Eagle Brand in your child's diet. These books also contain valuable information on malnutrition-including important height and weight charts to help you follow your child's progress.

Don't wait another day. Cut out the coupon and send for your set of 3 Little Books today. The Borden Company, 388 Borden Building, 350 Madison Ave., New York, N. Y.

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Madison Avenue

at 47th Street


Breakfast Luncheon-Tea



Thousands and thousands of dauntless football folk huddled on the dripping banks of the Yale Bowl, but there was "more water than people." Below them, out of a great morass, Leviathan heaved up his bulk through the rain, Leviathan Gehrke of Harvard. Once, twice, Leviathan kicked field-goals before the men of Yale found their footing and thrust him back and down. Right manfully those Elis strove in the mud, right man fully Pond, right stalwartly Bunnell and Kline. Game little Stafford of Harvard stuck to his instinct that it is better to have fought and fumbled than never to have fought at all. The child of mud, blood, rain, wind and pain: Yale 19, Harvard 6.

All the East was marshy that day. At Philadelphia, from the gumbo that was Franklin Field, Bucknell oozed out ahead of rugged Rutgers, thanks largely to the heroic hoists of Punter Goodwin. In swamp football, the laurels are to the tenacious. This was the first game that had slipped from Rutgers' grasp. Score: Bucknell 12, Rutgers 7.

Nimble Lafayette puddle-jumpersMarsh and Chicknoski slithered through Lehigh line for a touchdown

that was sufficient to win the big game at Easton, Pa., 7 to 0.

Like a thing alive, a greasy ball that had been a greasy pig squirmed between the legs of Fullback Mehler of Colgate. Squeals, grunts-when the pile was unscrambled, there lay the ball, nestled to the bosom of big John McBride of Syracuse. John jumped up, passed and plunged, won the game 7 to 3. Colgate had pride in Halfback Tryon, who distinguished himself in defeat; and in Cheerleader Mullen, who gyrated himself into a dead faint.

Fort Benning soldiers and Atlantic Scouting Fleet sailors were picked to meet at Washington, D. C., for the first leg on President Coolidge's Interservice Cup (TIME, Oct. 27). They met. Soldier Buck smacked through. Soldiers Douthit and Swantle smacked through. Sailors smacked back, but the soldiers marched home with the leg, 12 to 6.

Westward, the games were no fumble fests. Wisconsin, irked by many a prod this season, charged out on Stagg Field, blood in eye. It was a desperate afternoon for Chicago, but she fended bravely with hard tackling, sly punting. The final whistle blew her a scoreless tie and a Conference Championship her first since 1913.

Illinois, though Grangeless, contrived

Purdue dedicated her new Rossade Bowl at Lafayette, Ind., serving up In diana University as the charred oblation. Score: Purdue 26, Indiana 7.

Out between Chicago's Buol' Mich' and the lake, in the Municipal Stadium, big Ralph Baker of Northwestern plunked over two drop-kicks. The goa! he shot at, strangely enough, was fierce Notre Dame's, upon whom few me score. Also, the Baker punts, the Bake plunges, the whacking Baker tackles, brought wrinkles of worry and honest perspiration out upon the seldom-perturbed foreheads of Messrs. Stuhldreher, Crowley, Miller and Layden The illustrious Messrs. won all right, 13 to 6, but not without pants and passes.

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Photo by Paul Thompson

Two Characteristic Excerpts


At the outbreak of the war, Ambassador Page wrote a most vivid and dramatic letter to the President. The following is an extract: shall never forget Sir Edward Grey's telling me of the ultimatum-while he wept: nor the poor German Ambassador who has lost in his high game almost a demented man; nor the King as he declaimed at me for half-an-hour and threw up his hands and said: 'My God, Mr. Page, what else could we do?' Nor the Austrian Ambassador's wringing his hands and weeping and crying out, 'My dear Colleague, my dear Colleague.""

When Page entered upon his duties as Ambassador before the war, he wrote to the President: "I am moved once in a while to write you privately, not about any specific piece of public business, but only, if I can, to transmit something of the atmosphere of the work here. And since this is meant as much for your amusement as for any information it may carry, don't read it 'in office hours.'"

Around him swirled the wildest whirlpool of events mankind had ever witnessed, yet he retained his sense of proportion and his sense of humor, painting the picture as he saw it

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As a newspaper man in the old days, as editor successively of The Forum, Atlantic Monthly, and of The World's Work, he was always happiest when writing. All through his Ambassadorship, he seemed to be writing, writing, eternally writing at that favorite desk of his. While he had formerly written for many to read, he now wrote only for the select few-a half dozen leaders who ruled the fate of the world. But whether his letter went to king, president, or premier, or to one of his own sons, Page was always himself. His contagious humor, his brilliant knack of turning a phrase as no other man could, his adroit use of anecdotes to drive home a point, his amazing trick of photographing moral or mental situations in words, his almost conversational style, stamp these letters as the masterpieces of a genius.

Send No Money!

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The Life and Letters

(special new 4-volume edition)

for the cost of the original

2-volume set alone


May we send you for your approval, at our own expense, the new four-volume set of the Life and Letters of Walter H. Page and the latest issue of THE WORLD'S WORK, the great magazine which Page founded and long edited? Look them over; read them if you will: and then at the end of ten days decide whether you want to part with them. The fact that we dare make such an offer proves that we are supremely confident that you will be delighted with the books and the magazine.

Only when you have definitely decided that you want the books to remain in your library, and that you want THE WORLD'S WORK regularly on your reading room table-only then does payment begin, at the easy rate of $1 a month until $10 have been paid. Where $10 outright brought you only the original two volumes, these same ten dollars, payable in easy instalments after the free inspection period. now buy you the new fourvolume set plus a year's subscription to THE WORLD'S WORK, a regular $4-a-year magazine.

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The books are bound in blue cloth stamped in gold. Actual
size of each volume 81% inches high, 6 inches wide, 1 inch thick.

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confused with Darwinism; for Darwin furnished only a crude and in some re


GEORGE WASHINGTON CARVER "-direct revelations from God"

spects erroneous hypothesis: a suggestive hypothesis which, elaborated, verified and altered, has led to modern concepts of evolution. To accept the fact of evolution is not necessarily to give up one's belief in God. Science describes how natural laws operate, but does not deny that God established those laws and ordered the universe as it is."

There is a far cry, however, from this rather typical, passive acceptance of religion by many scientific men to the active interpretation of the relation of religion and science enunciated by a Negro Scientist. Dr. George W. Carver, son of slave parents, teacher at Tuskegee Institute, member of the Royal Society of Arts (London), recipient in 1923 of the Spingarn Medal* (given annually to "the American man or woman, of African descent, who contributes the highest achievement in any field of human endeavor") was addressing the Women's Board of Domestic Missions of the Reformed Church. He was describing the achievements which had won him his honorsthe derivation of 100 by-products of the sweet potato ("including rubber, coffee, candy, dyes, paste, paint, starch, vinegar, ink, shoe-polish, molasses") and 150 by-products of the peanut. In so doing he declared:

"I have never used a book in my laboratory. Neither have I a great mind. These discoveries come in a direct revelation from God. When He reveals a discovery to me, the method also comes with the idea. In half an hour after He taught me, I produced the yolk of an egg from a Porto Rican sweet potato."

One wonders, if he had had a similar inheritance, whether Charles Darwin would have made a similar confession.

*The Spingarn Medal was this year awarded to Roland Hayes, tenor (TIME, Oct. 8, 1923).



1901 VS. 1924

The stockmarket has contded to prove the most active spot in business Volume has been contiraing at abou an average of 2,000,000 shares a day. with rising prices in both rails and industrials. Liberty bonds, on the other hand, have been weak and other giltedged bonds have been stationary or weak-another normal sign of a goodsized "bull market."

The heavy trading in shares has drawn forth many comparisons with active markets in the past-particularly with that of 1901. As yet, however, the present market has still to equil many records established in that financial classic. No bull day has yet see 3,200,000 shares sold, as on Apr. 3 1901. No bear day-yet-has equalled the record of May 9, 1901 (the day of the Northern Pacific corner). when over 3,300,000 shares were sold on the Exchange. In 1901, something less than 200 stock issues were listed on the Exchange; whereas now, issues number over 900; moreover, in many cases, a given stock issue today will include more shares than in 1901. Relatively, therefore, recent trading has been nothing like as active as in the earlier year. However, single transactions 23 years ago often involved between 500 to 10,000 shares; whereas at present almost all sales are for 100 to 500 shares, with a great number for less than 100 share which do not appear on the stock tape at all.



Recent decisions of the New Jersey Court of Errors and Appeals-handed down in Day and Moran . The United States Cast Iron Pipe and Foundry Co. and frequently referred to in the current financial and legal publicationsindicate that the rights, in dollars and cents, of non-cumulative preferred stockholders have not been as rigidly insisted upon as they might have been.

Preferred stock, as everybody knows, is almost always designated as either cumulative or non-cumulative If cumulative, its dividends are not payable if profits are not earned; but when profits are earned, its unpaid dividends, past or present, are a first charge against such profits and must be paid before the common stockholders receive anything. If preferred stock is non-cumulative-i the opinion up to now of both lawyers and the public-a passed divi dend is lost.

But, according to these decisions "cumulative and non-cumulative preferred stocks differ only in that cr mulative stocks are entitled to dir dends, whether earned or not, in any particular year." Preferred stockholders, therefore, contrary to what has been hitherto believed, do not

>se a dividend which has been earned ut not paid when earned.

- It should, however, be pointed out hat these decisions must not be aken as definite in their application > the rights of preferred stockholdrs under the charter and by-laws of II companies and the statutes of all tates. In this connection, it is ineresting to note that already a suit as been commenced by, among others, the trustees of the Langhorne estate in Richmond, Va., to enjoin the directors of the Southern Railway from paying further divilents on the common stock of that company until preferred stockholders have been paid all dividends in ar


Tenth Anniversary

The tenth anniversary of the Federal Reserve system finds it in a thoroughly paradoxical situation. So exceptional have the past ten years proved, that no one yet knows quite how the system will act in normal times. It has proved its ability to weather terrific financial storms, but not to sail on smooth water. Furthermore, although Reserve Bank vaults bulge with billions of gold, the institutions are finding it somewhat difficult to pay overhead expenses, owing to the relatively small discounts by member banks.

Several facts, however, are plain. The Reserve system is today the richest and most powerful central banking institution in the world; it has replaced even the historic Bank of England as the centre of the world's money market. It has furthermore apparently survived an agrarian political attack which a century ago wrecked both the First and Second U. S. Banks.

Chinese Peanuts

Southern peanut planters have little economic reason to thank Archdeacon Thompson or Dr. Charles R. Mills of the American Presbyterian Mission to China. Thirty-five years ago, these gentlemen imported four quarts of U. S. peanuts. Half of them were given to two Chinese farmers as the basis of a Chinese peanut crop. One armer ate his peanuts instead of lanting them. The other, however, planted and replanted his peanuts, until now the Shantung Peninsula grows 18,000,000 bu. per annum. The Chinese peanut crop now exceeds even that of this country.

U. S. peanut production, during a recent year, amounted to 623,000,000 b., valued at $30,000,000. Norfolk, Va., is generally considered the centre of the business, although Texas, with 205.000 acres in peanuts, leads all other states in output. Peanuts are grown extensively through the historic river plantations of Virginia; and one secret of Southern hams is said to consist in feeding hogs peanuts instead of corn and other food. In recent years, it has been observed that certain Mediterranean ports had

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suddenly become large importers of peanuts; on investigation it was discovered that oil was extracted from them and sent back to the U. S. under the head of "olive oil."

Railroad Buying

Purchases by railroads cover almost the whole field of commodities and are always important as a factor in general business prosperity. Many lines of industry have owed much of their activity in the past few years to the heavy spending of railway officials. In 1923. capital expenditures for locomotives amounted to $208,966,280; for cars. $472,757,711: and for other improvements, $377,425,435-or a total of $1,059,149,426. During the present year, authorized expenditures for locomotives are $101,233,000; for cars, $412,264,000: and for other improvements $563,800.000 or $1,077,297,000 altogether. In the opinion of many students of business, these large sums have sufficed to put U. S. roads generally in very good physical shape; the ease with which the roads have handled a record traffic this fall is cited as proof.


How Small Investors Now Get High Interest With Absolute Safety

There is no longer any reason for persons with small incomes to accept a low interest on their savings in order to "play safe." For a plan, especially adapted to the needs of small investors, has been perfected which insures absolute protection with the highest possible returns.

This plan makes it possible for you to realize 62% from First Mortgage Real Estate Notes on selected improved properties in Washington, D. C., where unusual economic conditions assure a stability in property values found in no other city in the world. Our new Free Booklet, "Safety Supreme," explains the plan in detail, and shows the remarkable opportunities for safe, high-pay. ing investments in these notes. A letter or postcard will bring your copy. No obligation.


Shannon & Luchs, Inc. Dept. 612 713-715 14th St. Washington, D. C.

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