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What Do You Look for NOW in the Bond Market?

Since the first part of June the bond market has risen further, the average covered being about 12 points. Some bonds have reached or are near their

1922 High

Will there be any great change in prices during the next few months, and, if so,

In What Direction?
Long or Short Term Bonds?
Industrials, Rails or Utilities?

Definite answers to these questions will be found in Bulletin TM-42. Your copy free on request—now.


ECONOMIC SERVICE, Inc. 25 West 45th St., New York

A Business Opportunity

exists for the man who wishes to be his own boss and the owner of a permanent ever-expanding, profitable merchandising service. It may start with $100 capital, or $10,000, but it cannot start without capital. The degree of success has no reasonable limit. It has attracted to it and has today engaged in it, men who are conspicuous successes and of long and wide experience in merchandising, with capital abundant for all their requirements; and the other extreme of men and women with limited business experience and qualifica. tions, and very small capital.

No man is too big for the business. Men of strong professional standing with splendid incomes have given up these incomes and their professional work to engage in this service, with success.

The business is merchandising, but it entails a service that is unique, intensely interesting productive of great enthusi asm, and broadly constructive. It makes you the greatest benefactor in your community, town, city, or district, and pays you a real profit for such benefaction.

Service is the foundation of all real success, and this service literally enables you to take time from eternity and put it into the life of man, and make legitimate profits in doing so.

Address: Manufacturer,

Care Motive Publishing House

1927 Sunnyside Avenue, Chicago, Ill. (The above is not merchandising books or magazines)

A fact in the head is worth two in print. TIME is interested not in how much it can include between its covers, but in how much it can leave in the minds of its readers.

Uniting the Roads

In the days of Hill and Harriman the West was treated to great spectacles in the building up of great railway systems. Then came the Government with the heavy hand of law, and all but extinguished the race of railway builders and consolidators. Times have changed. Now the Government smiles where it formerly frowned. Consolidations are once more in order. In the East the Van Sweringens are always good for a rumor of consolidation. There is talk of the Pennsylvania and the Norfolk coming to an agreement. But what of the West? Who are the leaders who make up consolidations there? Hale Holden, President of the C. B. & Q. is one. He has advocated that the 62 railway systems west of the Mississippi should be consolidated in four great systems. That would be a project of Herculean proportions.

Without going into the public ways crying a panacea, without driving hope and conjecture ahead of what appears as legitimate possibility, yet taking a definite and most effective part in the consolidation negotiations of the west is William Sproule, President of the Southern Pacific Railroad.

"This man Sproule" who is anything but a self-advertiser, is apparently getting results, quietly as he always does. He came to this country with an education, an affable disposition and ability that went straight to the mark. He began as a freight clerk on the Southern Pacific. In the course of 24 years of continuous service in the company he rose to the position of Traffic Manager. Then the Guggenheims, ever watchful for talent, secured him as traffic manager-member of the executive committee for the American Smelting and Refining Co. Then the Wells Fargo Express Co. got him for its President. In 1911 the Southern Pacific which had got along without Sproule for five years decided it could get along without him no longer. Sproule went back, as President of the road.

There Sproule was closely associated with Julius Kruttschnitt, chairman of the line, except for a brief period when the Government controlled the railways and he was a District Director. Now, again President, he carries on in the shoes of Huntington and Harriman. When Huntington, founder of the road, died, Harriman bought control by way of uniting the Southern Pacific with his Union Pacific. Later this union was undone when the Union Pacific sold its Southern Pacific holdings.

The old consolidation, the old dream of unity, is at an end. But the new? The times and the Government call for consolidation. There must be new dreams of rolling stock and a right of

way spreading over the great plains. William Sproule is pushing toward the goal.

The negotiations are well under way for a merger between the Southern Pacific and the El Paso and Southwestern. The acquisition of this road will give the Southern Pacific a new outlet into Mexico. It will also connect the Southern Pacific directly with Chicago, Rock Island and Pacific. Following the El Paso merger, the next step naturally will be a merger with the Rock Island. That would give the Southern Pacific a direct line into Chicago, what it has always desired.

Speaking last week at Tucson, Mr. Sproule said:

"Another reason why the Southern Pacific wants to go through with this merger [with the El Paso and Southwestern] is because it is now competing with railroads that have a through line to the Great Lakes and Middle-Western cities to the Pacific Coast. We, too, want to be able to say that our lines extend to Chicago from San Francisco, and this merger and a possible merger with the Rock Island system will make it possible for us to say that."

If Sproule, the affable and keenminded, can achieve this end, it will be one of the great consolidation achievements of the decade. It will link up a new railway system from Chicago to the Coast. And, incidentally, it will virtually complete the first of the major group consolidations laid out by the Interstate Commerce Commission in its tentative plans for consolidating all the railways of the country into 19 large groups.

Group 17 of the Commission's plan reads:

"Southern Pacific; Chicago Rock Island and Pacific; El Paso and Southwestern; San Antonio and Oransas Pass and other small roads."

If and when the job is done a bronze plaque may be erected in the Central Office of the system, bearing the words: "William Sproule Fecit."

The Current Situation

The developments of the past week in American business here centered in the improved outlook for farmers and its probable consequences.

Money continues cheap, and industry continues in poor shape, except in a few departments, such as chain stores and utilities. Railroads, although earnings are showing a tendency to decline temporarily, are daily more cheerful over their prospects. Yet through all this there is an unusual dearth of novel or sensational


The consequences of agricultural prosperity are many and important. First, they will lead to conservative politics this Fall, and favor the re

By im

election of Mr. Coolidge. proving the farmer's buying power they should increase the consumption of manufactured goods with greater rail traffic as a result. This development may, as a matter of fact, provide a basis for the subsequent recovery of our industries from their present depression, although that is still far ahead. Finally, the former serious disparity between agricultural and other prices is being reduced. A restoration of the former balance between prices will, in the long run, prove fundamentally advantageous to the business of the country as a whole.


The world production of cotton for the year 1923-1924, according to the U. S. Department of Agriculture, will be about 18,900,000 bales. This compares with 18,154,000 bales the preceding year.

For the 11 months ending May 31, exports of cotton from the United States ran about 600,000 bales ahead of those for the year preceding, on better British and European demand. Nearly half this increase is due to larger British purchasing.

Meanwhile, the abnormally high prices for cotton are stimulating production in foreign countries. Egypt is expected to increase its cotton Heavier planting is acreage 10%. also expected in the Sudan and Uganda, whose potential acreage is estimated at about 2,250,000 acres. Among South American countries, Brazil has taken the lead as a cotton producer, yet Argentina has 14,000,000 acres available for the crop. But all these new cotton territories face serious difficulties. In the upper African districts, irrigation is the problem. In Brazil, the cotton area is in the interior valleys where transportation is poor. In Argentina, the chief drawbacks are labor shortage, insect pests and high freight rates. Extensive areas in Sind and Punjab (India) will require irrigation before cotton can be grown there sucessfully.

Nevertheless, the present high prices are a huge incentive in the attempt to overcome these difficulties of producing cotton abroad. Unless the American planter can overcome the ravages of the boll weevil, increase production and thus lower prices to something nearer a normal level, he will in a few years begin to encounter stiffer foreign competition than ever before in cotton production.

High Finance

According to The New York Journal of Commerce, the greatest chapter in the history of American finance was about to be written. That newspaper had "exclusive information" that billionaire Henry Ford intended to open a

EDSEL B. FORD "Unfounded"

bank on Wall Street and would most probably seek an alliance with the Rockefeller interests. This would mean, said the Journal somewhat childishly, "the single addition of more than $1,000,000,000 of assets, a sum sufficiently large not only to make financial New York notice it, but also welcome it." It is well known that Mr. Ford has enormous cash reserves and that he could easily establish a bank in Wall Street if he so desired. But this chapter of history was not to be written, as the following telegram to TIME indicated:.

"Report of our seeking banking arrangement entirely unfounded.



The Baltimore & Ohio Railroad is the oldest trunk-line road in the U. S. Last year was the B. & O.'s 97th birthday, and the most successful year in its long history in several respects.

No previous year's

gross operating revenue was ever as high as the 1923 figure of $255,594,435; in 1922 it was $200,843,169. No previous year's net revenue has reached or surpassed 1923's record of $22,422,035, which compares with $4,375,373 in 1922, and amounts to $13.21 a share on the common stock, as against $2.56 the year before. The year 1923 was also a record one in the amount of freight handled.

In still another way this annual 1923 report of the B. & O. is inter

esting. Total assets of the company as of Dec. 31, 1923, were $900,191,932. While the B. & O. is not as yet a "billion dollar concern," it is nearer that mark than is commonly realized.


Introducing Mr. Cutten

Another "big operator" has been developed this Spring by the sharp rise of grain in the Chicago Board of Trade pits,-Arthur W. Cutten. His dealings in grain this Spring are said to have netted him $1,800,000.

Born in Guelph, Ontario, in 1870, Cutten was successively a clerk in a hardware store, a brokers' messenger boy, a trader in the grain pits and member of the Chicago Board of Trade, and a dirt farmer and cash grain merchant. Earlier in the year, in the belief that a natural bull market in grains was ahead, he bought corn options at 75 cents a bushel. Last May corn prices slumped badly and forced Cutten to buy heavily to sustain prices. But this proved a blessing in disguise, for bad weather injured the crop, and the scanty prospective supply rose in price in conAfter predicting $1.00 corn, Cutten saw it sell at $1.10 to $1.14.


Wholesale Prices

The whole world, witnessing the ease in the American money markets and our superabundance of gold, has been watching for our commodity prices to rise under "gold inflation." Thus far, however, it has watched in vain. Indeed, according to the U. S. Department of Labor indices of wholesale prices for June, commodity prices in this country were falling instead of rising. The index weighted index number, which includes 404 commodities, fell to 144.6 for June, from 146.9 in May and 153.5 for June, 1923. It has declined steadily since February, 1924, when it was 152.

The drop of prices during June was caused chiefly by declines in farm products from 136 to 134, in food from 137 to 136, in fuel from 177 to 175, in metals and metal products from 134 to 132, in building materials from 180 to 173, in house furnishings from 173 to 172 and in miscellaneous from 112 to 111, compared with the previous month of May, 1924. On the same comparative basis, clothing remained unchanged at 187, and chemicals and drugs at 127. As between May and June last, of the 404 commodities checked, there were 137 decreases, 103 increases, and 164 cases where prices did not change.

What the same index will show for the present month is, of course, conjectural at present. Farm products will be higher, of course. Yet it is obvious that the advance in grain prices is not due to "gold inflation" but to crop failures. The prophets of American inflation may ultimately be right, but so far the facts give little comfort to their theories.


A group of men fidgeted on a platform in Waterloo Station, London. Trains puffed in, carriage doors flew open, a host of grinning Americans and Canadians flocked out. The fidgeters, English reception committee of the Associated Advertising Clubs of the World, sprang into action, shook hands, in every direction, loaded the grinners into a fleet of taxis, chugged off with them toward the Strand to the 20th Annual International Advertising Convention.

A reception at the Albert Hall that night, special services in Westminster next day and an inspirational meeting keynoted with "Is War Incurable?" by Fred B. Smith; and the Convention moved out to Wembley. There, crowded into the Conference Hall, the delegates sent up a great shout when a little figure, smart in grey, stepped to the 'dais. Said the Prince of Wales: "I am very proud to address this Convention."

Harold Vernon: "Advertising, the Cinderella of business, has now been wooed by Prince Charming."


Viscount Burnham, Chairman: The greatest rodeo and business roundup in the world. . . ."

Ambassador Kellogg: "It is well you come at this time."

Calvin Coolidge, via Lou E. Holland of Kansas City, President of the A. A. C. W.: "... My heartiest good wishes and cordial greetings. . . . I notice that the emblem of your organization bears a single word, 'Truth.' . . .”

At other sessions, other speakers: Winston Churchill, Francis Sisson, Sir Lawrence Weaver, Sir Charles Higham, Stanley Baldwin, Sir Robert Horne, Sir Philip Lloyd-Greame, Sir Louis Arthur Newton (Lord Mayor of London), Stanley Resor, Edward A. Filene, E. W. Beatty, Viscount Leverhulme, E. T. Meredith, Harry Tipper.

Lou E. Holland was reëlected President a second time; Jesse H. Neal, of New York, Secretary-Treasurer.

Houston, Tex., was awarded the Convention for 1925.

Life in Maine

The steamer Pemaquid made its way across the waters of Penobscot Bay and came to land. John William Davis disembarked. On the dock waiting for him was Charles Dana Gibson, his host. The creator of the Gibson Girl, the publisher of Life, was there despite his physician's orders. A recent illness had required him to guard his health closely, but friendship and hospitality had temporarily overruled the art of healing.

The Democratic nominee for the Presidency had come for a rest on the Gibson estate. "Seven hundred wonderful wooded acres to think in for the next ten days!" exclaimed Mr. Davis.

Publishers have always been the friends of Presidents and Presidential

nominees. Consider such publishers as lately have been the friends of statesmen-Colonel George Harvey-Edward Beale McLean. Not such a one is Charles Dana Gibson. In the first place Life differs in the seriousness of its pretentions from the North American Review and The Washington Post. Not that Life is out of politics, because it


He publishes humor presumes to smile at it. Life knows politics and takes part in it. Life has played its part in many fields. The least of these may be anti-vivisectionism, the greatest may be international cooperation.

The coupling of a politician with a new type of publisher and new type of paper tells something of the character of each. John W. Davis sees the humorous side of life. Doubtless Life will see the statesman-like side of John W. Davis.


Edward A. Filene's remarks before the Advertising Convention, London, made a particularly deep impression upon it. In Mr. Filene's opinion, massproduction, as now developed almost everywhere in the world, is bound to lead to mass-selling, which is dependent upon advertising. As proof of his contention, he stated that in the United States, about $628,000,000 was spent in advertising 'during 1923.

Big Issue

The Chicago Tribune conducted a referendum among its readers to discover if they wished to have WGN, the Tribune's radio station, broadcast the trial, beginning Aug. 4, of Richard Loeb and Nathan Leopold Jr., alleged murderers of Robert Franks.

Front page headlines and the entire second page of WGN were, on several days, devoted to this issue.

In fighting conflagrations, blankets are often employed to cut off ventilation, smother the flames. Just so were the fires of revolution dealt with by the Brazilian Government when they broke out in Sao Paulo (TIME, July 15, July 21). A heavy swaddling of tensorship was wrapped about the Press. For a week only official Government communiqués, meagre and guarded, reached the outer world with news of the revolt.

Then the Brazilian censor swore he had found a leak. He arrested Charles M. Kinsolving, manager of the United Press in Brazil, charged him with "defiance." The American Chargé d'Affaires remonstrated, Kinsolving was freed.

Within the week came news that the Brazilian Government had revoked the rights, not only of the United Press, but of the Associated Press as well, to send or receive despatches in Brazil on any news subject.

"Discrimination!" said officials of the banned services. For neither the Agencia Americana nor the Havas Agency has been restrained. The former is the official Brazilian service, Government subsidized.

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"Millions of Followers"

In its issue of July 14, TIME described in some detail the July number of Physical Culture Magazine, spoke of Editor Bernarr Macfadden as "the Nation's best-known body-worshipper," possessed of an apostolic zeal for "cultured" pictures, "frank statements," "plain advice."

It now appears that Physical Culture and Editor Macfadden are not without friends. Writes a citizen of Washington, D. C.: "On page 24 of your issue of July 14, there is an article about Bernarr Macfadden that is very unfair. ... He has millions of followers in the country.

"In my own case, for example, will say that I was about to be given up with pneumonia when I took up the Macfadden system of obtaining health. I weighed 89 lbs. After following it for years I weighed nearly 200 when I dropped it and recently I became too heavy and took up his exercises and diet while he was in Washington and have lost 36 lbs. and never felt better in my life. This is a brief testimony which could be repeated by thousands of people."

Ford as a Publisher

For 18-odd years the Dearborn Independent had been a small town weekly. In November, 1918, Henry Ford published it with the resolve to apply to it his much-discussed ideas of quantity production.

The problem of securing circulation

I's habitual energy. When he pured it, its subscribers numbered only w hundred. After some of his sennal views on various topics aped, quite a number of readers ht it for a time out of mere curiosBut the bulk of its subscriptions obtained by Ford agents or emtes on liberal commissions of from >50%. Many Ford plants subed to the weekly 100%. Yet its lation has spread considerably beMr. Ford's own business followThere are 125,000 immediately emd by the Ford Motor Co., and t as many more employees of Ford cies. But the Dearborn Indepen

s circulation is now stated to be 00 copies weekly. Evidently Mr. has ambitions for his magazine. w $1,400,000 building at Dearborn aring completion; it is equipped new presses able to turn out 1,000,opies of 68 pages each week. Yet, e most of Mr. Ford's other ven, the Dearborn Independent has aid expenses, although this must rgely attributed to its policy of not ting advertisements.

doubtedly Mr. Ford's fondness for aper is due to his ability to say just what he thinks about Jews, y-lenders, international bankers, ncy, who started the War and and other favorite topics. As a tle, the weekly bears the slogan, nicler of the Neglected Truth.”

ying Life

ndering into the main dining room : Ritz-Carlton Hotel of an evening nay find him. There he is-tall, the perfect bachelor, who has at1 years of discretion. Like a graprince-for he is a man of dison-he frequents this semi-public , where ever and again appear the tates with whom he may speak on of equality.

is, he thinks, is that which should apany old age. Theodore, the vaiter, bows. The distinguished -lor strolls in. Perhaps, this evehe will join two or three men is for dinner. He orders well, minatingly. He enjoys his meal in


Toward its close he rises to alls on half a dozen distinguished is at neighboring tables. Here he s with a gentleman and his wife. are perhaps Mr. and Mrs. James homson, son-in-law and daughter e late Champ Clark. At another he pauses to chat with a handman in his fifties; certainly it is s W. Gerard. He returns to his and sips his coffee.

ally, he rises. The waiter bows,

the dinner has been satisfactory. distinguished bachelor nods his acledgment. He slowly makes his out.

has dined well. He has dined begly. He has dined artistically. He ined in a manner that is entirely - for the publisher, Frank Andrew ey.

Mr. Munsey has attained his pin

The Thinker

can't think anything that is worth thinking if he eats heavy foods that use up vitality in an effort to digest them. Men who use their brains eat

Shredded Wheat

with milk, fresh fruits and green vegetables. Eat this delicious whole wheat cereal instead of meat and potatoes for a while and see how smoothly your brain works and how much better you feel.

Triscuit is the new Shredded Wheat Cracker. Delicious for any meal with butter, soft cheese, or marmalade.

Made by

The Shredded Wheat Company, Niagara Falls, N. Y.

nacle and he is enjoying it. What else,
for example, is there but enjoyment in
the short leading editorial which of late
The Sun (Manhattan) has taken to?
They are such editorials as the squire
himself would write. No one of the
hired under-wardens of the editorial
page would dare to write so.
For ex-

From a survey of the national politi-
cal situation and considering strictly the
facts in the situation as they stand to-
day, The Sun has this to say: etc.

(Very much "I am Sir Oracle." None of Mr. Munsey's hired vendors of opinion could dare such supererogation.)

And later, after Mr. Untermyer had replied to an editorial attack, this appeared:

We thought we knew fairly well what the expression "reeking with the taint of special privilege" meant, but so long as MR. UNTER MYER Contends that we don't know what it means we must content ourselves with saying that it sounded like hell.

(Simple profanity.)

What better way is there of enjoying a benevolent old age than to say bluntly what one thinks? A long and honorable career excuses it.


Progressive cities and towns, like efficient firms, are good advertisers, the main difference being that the former do not spend much money on this modern cult.

One of the greatest auto-advertisers

is the Middle Western City of Chicago. One thing dear to the heart of the gumchewing section of Chicago is a joke at the expense of New Yorkers.

So when Harry J. Luce, President of Maillard, Inc., (euphemism for a restaurant at which the privileged few can toy with a few dainties at an an exclusive price) "discovered Chicago" and forthwith leased 20,000 square feet of floor space in the Straus Building, the Chicago Tribune, which as everyone knows is the "world's greatest newspaper," splurged for a whole column.

The simple story was that Mr. Luce desired the floor space for a new restaurant which is to cater to Chicago's fastidious few. The Tribune must have more "kick," so it vapored about "a few daring New Yorkers" venturing into the "far West," discovering Chicago and telling their friends about it. Mr. Luce had been told by "some such explorer" that Chicago existed, but he had been cold to his informer; for he remembered that "a fourth cousin of his on a western hunting trip" had sent him a postcard of the place.

All this is contained in the autoadvertising slogan of: "Don't Knock, Boost"; but to boost successfully something apparently has to be knocked, which, while amusing the gum-chewers also serves to maintain the world's greatest newspaper.



At Indianapolis, Ind., only 43 minutes were required by elongated by W. T. Tilden II, of Philadelphia, to subdue Brian I. C. Norton in his semi-final match of the National Clay court championship. The title

was Tilden's for a third successive year when he followed up that performance with smashes that flattened Harvey Snodgrass, of Los Angeles.

National Clay Court Doubles champions: Robert and Howard Kinsey, of San Francisco.

Proceeding to Glencoe, Ill., Tilden. thundered into the finals of that State's title-play, descended upon Howard Kinsey, flattened him.

At Boston, high ranking tennis exponents competed for the Longwood Bowl, a trophy never won by second raters. Play finished, an engraver was instructed to carve, in close proximity to "W. M. Johnston," "W. T. Tilden II.," "R. N. Williams," the unfamiliar name of Fritz Mercur, of Philadelphia, undergraduate of Lehigh University. Twelve years ago the Longwood spectators blinked at the dazzling play of a tall young Californian, until then unheralded, unsung. The engraver's instructions that summer were "Maurice McLaughlin."



Time and again and again, wizened little old man flung himself feverishly, but feebly, upon a young Hebrew desperado at the Velodrome, Manhattan. Thus assaulted, the desperado angrily smashed the old man back and down, with crushing blows on the face. At length the ancient, blood-smeared and sick, staggered weakly away.

The quarrel was over a purse-and the world's bantamweight boxing championship. The desperado was Abie Goldstein, "Harlem assassin," titleholder, whose boxing on this occasion was now brilliantly clever, now dismally stupid. The little old man was Charley Ledoux, of France, aged 32, bantamweight champion of Europe, who had come to America a third time ("and last," said he) with titular intentions.

Between rounds, towel-flappers and sponge-squeezers sprang through the ropes to revive, rehearten Little Old Man Ledoux. Over these loomed a being, tall, statuesque, godlike.

"Who," whispered the nudging. spectators, "can he be but that

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Stepping into a sumptuous motor after Ledoux' fight, the "G. O. M." was wafted back to Great Neck to continue his training for Gene Tunney and the American light-heavyweight title on July 24. Callers continued plentiful. They dropped in to scrutinize, criticize, ogle, or just greet. The rustle of skirts was heard almost continuously. Conversation was reported as running along social, theatrical, bootlegging lines. Georges took his exercises regularly, strenuously, but gave the impression that they were work.

At Red Bank, N. J., sport writers discovered a different scene. In the garage of the Shrewsbury Golf Club, attentively watched by admiring natives, Tunney raced through his work, flew at sparring partners chosen for their speed, appeared to be glorying in every exercise. Critics had said he lacked the "killer instinct." He belied the criticism. Experts had said his left hand would be his greatest asset. He gave promise of justifying the prediction. After the work-outs, talk was of golf and real estate, Mr. Tunney's avocations.

Georges Carpentier, that Gorgeous Olympics

Orchid Man?"

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21), the Olympic tennis courts were swept clean by Americans. Women's singles: Helen Wills. Women's doubles: Helen Wills and Mrs. George Wightman. Mixed doubles: Mrs. Marion Jessup and Vincen: Richards. Men's singles: Vincent Richards. Men's doubles: Vincent Richards and Francis T. Hunter.

Swimming. At Les Tourelles, Count Clary, President of the French Olympic Committee, distributed prizes to dripping aquatic champions. Four-fifths of the recipients wore the U. S. shield.

America's point total, 217, has never been equalled in the history of Olympic swimming. Sweden was second with 58 points.

Boxing. The Velodrome D'Hiver in Paris housed pandemonium as different national flags were hoisted to herald fistic victories. Knock-outs being infrequent, room was found for argument over the judges' decisions. Ultimately, the Nations had to be content with this point total, mainly determined by second and third places: United States 38; Great Britain 30; Denmark 20; Argentina 18: Belgium 17; Norway 14; France 7; Canada 7; Italy, Holland, Sweden, each 3.

Rowing. Undistracted by the tumult around them, never daunted by the sights they saw, eight muchlauded Yale oarsmen rowed Toronto University (Canada), Italy, Great Britain "out of sight" on the Seine, became world's champions. Jack Beresford, Jr., of England, Henley single sculls champion, swatted past W. Garrett Gilmore of Philadelphia to the world's singles title (amateur) and the Philadelphia Gold Challenge Cup, emblematic of that honor. Switzerland took the four-oared race with coxswain; Holland the pairoared without coxswain; Great Britain the four-oared without coxswain.

Grand Totals. With seven championships (rugby, shooting, track and wrestling. field, catch-as-catch-can rowing, tennis, swimming) credited in twelve branches of completed competition, the U. S. clinched a victory over the other Nations of the earth for all-round Olympic honors: U. S. 83; Great Britain 33; France 30; Finland 30; Sweden 222; Norway 20: Uruguay 10; Argentina 10.


New World's Records

Swimming (in 100-metre pool, Les Tourelles, France):

1,500-metre free style for men: Andrew Charlton (Australia), 20 min., 635 sec.

800-metre relay for men: U. S. team (O'Connor, Breyer, Glancy, Howell), 9 min., 53 sec.

100-metre free style for women: Mariechen Wehselau (Hawaii), 1 min., 125 sec.

100-metre backstroke for women: Sybil Bauer (Chicago), 1 min., 23%


400-metre relay for women: U. S. team (Lackie, Wehselau, Ederle, Bauer), 4 min., 58% sec.

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