EDUCATION

Learned Congresses

The following learned Congresses will assemble during this Summer and Fall:

At The Hague and at Gothenburg, Sweden, between Aug. 12 and 24, the Congress of Americanists, in two sessions. The Americanists, students of the story of America, historic and prehistoric, have among their number many nationalities and represent many fields of research.

At Buenos-Aires, in October, Conference of American Historians.

At Lima, Peru, Nov. 16, third PanAmerican Scientific Congress. Also, a Pan-American Congress on Standardization, purposing to unify engineering standards for all countries in the Western Hemisphere.

Michiganders

In Manhattan, ten University of Michigan undergraduates strode up a Grace Line gang-plank, bound for Lima, Lake Titicaca, Cuzco, La Paz, Iquique, Antofagasta.

Bidden guests of most of the South American Republics, the ten were escorted by two members of their alma mater's Romance Language staff. They bore with them to South American universities the good-will of Marion L. Burton, Michigan's Coolidge-nominating President.

In addition to conditions social, economic, political, religious, which it is their intent to scrutinize, the Michiganders may see a being who has long excited the curiosity of the American advertisement-reading public — "that native of Antofagasta," whose fame was made when he ordered a stove via the Western Union Telegraph Co.'s lines o'er land and sea.

SCIENCE

Deep-Sea Gold

When the Laurentic was sunk off Lough Swilly by a German submarine during the War, a large treasure in bullion went down with it. The British marked the site and fought on. But in 1918 the attempt to salvage the under-sea gold was begun, and to date about $35,000,000 has been recovered by divers.

Not until 1920 was much accom

for apparatus and divers at Scapa Flow. By that time the Laurentic had broken up and proved a mass of tangled ironwork. During 1920 only eight bars of bullion were recovered.

At this stage of the game, entered Professor F. F. Brooks with an instrument capable of locating gold, which cost only £15. By sticking a spear into the mud at the bottom of the sea, the presence of gold was indicated on a galvanometer. The Professor's contrivance changed failure into success. In 1921, 100 bars of bullion were recovered; in 1922, 900 bars; in 1923, 11,050 bars. Operations this season were to make a clean job of it, and salvage was small. All the precious metal that went down with the Laurentic, except for a small amount of specie, has now been recovered.

Liger

Since lions and tigers do not live in the same regions, their children, which are called "ligers," are rare beasts. Nevertheless, a liger has just been brought to the London Zoo. This unnatural hybrid is the gift of an Indian prince, and was bred by him from a male lion and a female tiger. It is a three-year-old male.

Bigger than a lion, the young liger reveals the characteristic proportions of a tiger. He wears his father's khaki coat, adorned by faint tiger-stripes. He flatters his father by wearing a beard and favors his mother by his ears. His mane, however, is "like a donkey's."

Last week, then, the sea-dogs of the world howled protestingly when it was announced that the 1925 Nautical

Almanac would, by vote of the U. S., Great Britain, France, Germany, Italy, Spain, impose the landlubber's midnightto-midnight span upon all mariners.

Taciturn captains prophesied wrecks and disaster. They called the change unnecessary, costly, illogical, insanethe work of professors and astronomers.

"How," asked they, "can you tell the day begins at midnight? You can't see the sun!"

Practical marine associations ordered explanatory booklets for their members.

Watches

A month after the Methodist month of religious carnival at Springfield, Mass., the Executive Committee of the Methodist Board of Foreign Missions assembled in Manhattan to fight the grim reality of a deficit. The Board was $2,225,000 in debt. The proposal to reduce its missionary work by 25% was promptly rejected. What to do?

Up stood Dr. L. O. Hartman, Editor of the onetime Zion's Herald. He proposed that every member of the Board should give his gold watch to the cause.

Luther B. Wilson, famed Bishop, at once saw the point. He took out his watch, went to the table, laid it down. In the pocket of Bishop Grose ticked the timepiece of the late James W. Bashford, Bishop of Peking, who put Methodism on the Oriental side of the map. That, too, went on the table. It was a good idea. C. E. Welch,t grape juice man, took his watch to the table He was followed by a Vice President of the Pennsylvania R. R., A. M Shoyer; by a lawyer, W. H. Van Benschoten; by a glove-maker, W. J. Stitt; by other Bishops, Lowe and Badley.

Announcement of this watch-giving was sent to all Methodism. The Treas urer said he would operate the biggest pawnbroking business in the country Every member of the Church was asked to send his watch to the Treasurer and later to redeem it at its sales value It will take 222,500 watches of an aver age value of $10 to wipe out the debt.

Roman Oneness

The year 1923-24 saw a dream brighte on the irridescent heights of speculation saw it fly like a comet around the world saw it vanish for another century. I was a dream, dreamed by old men, of union between the Anglican and the

cator,

*James Whitford Bashford; pastor, edu Peking author, M. E. Bishop of China. Born Fayette, Wis., 1849-dic 1919. President of Ohio Wesleyan College 1889-1904. Characterized by his students a

"What-can-I-do-for-you" Bashford; by the Chinese, among whom he numbered many distinguished friends, as "the man with the shining face." A tremendous worker; car ried a case of books with him when travelling and wrote many books himself. Among othe strong views he held women should be a mitted to the ministry.

Dr. Charles Edgar Welch. Born Wate town, N. Y., 1852. Public School Ed cation. Practising and manufacturing dentist with his father, 1877-1886. Grape juice ma since 1869 at Vineland, N. J. Nominat by the Prohibition Party in 1914 and 19 for Governor of New York; withdrew 1914 in favor of Democrat Sulzer and ra for Lieutenant Governor. Defeated bo times.

Holy Roman Churches.

The dream was invoked by Cardinal Mercier at a secret meeting in his palace (TIME, Feb. 18). It colored the last pontifical address of Pius XI (TIME, June 9). It tagitated the cloisters of Oxford and was reflected in the writings of Bishop Gore (TIME, May 5). Finally the dream was propelled into the empyrean of never-never-land by an American journalist.

e d

William Crawford, for the Century pomagazine, interviewed the Pope and the Archbishop of Canterbury. Said the Archbishop (Randall Davidson): "I hope for a closer coöperation. I desire E. closer harmony. I doubt the possibility He of a physical union between the Angli

can Church with either Rome or the Nonconformist."

Papal etiquette forbids that the Pope be quoted directly. His "unofficial opino ion" is:

"While the Holy Father is particularly anxious to bring about a union, there can be no compromise, no meeting on half-way grounds to accomplish this end. The Roman Church is founded on the rock, Saint Peter. It has specific apostolic authority, delegated to its founder by Christ Himself. Every dogma, every one of its teachings, has been dictated by Christ through His e vice-regents on earth; consequently, it cannot change, revise, or in any way alter any of its doctrines or principles in order to bring about a reunion."

given intravenal application of virulent bacilli capable of killing an ox in two months.

Not one of 217 infants, born of tubercular parents 18 months ago, given three doses of "BCG" at 48-hour intervals

Underwood

DR. ALBERT CALMETTE

"To protect nurslings"

beginning within 24 hours of birth, left with their mothers to run the risk of

Tubercular Association: "Calmette's position in the scientific world is such that any announcement on his part is worth the utmost respect."

A Gallstone

A

Mrs. Sadie Bingham Lampkin, trustee of the Christian Science Society of Red Bank, N. J., fell ill of a pain in her stomach. She called a Christian Science healer and later reported herself "gloriously healed." A few weeks later she died. licensed doctor refused to issue a death certificate. Thereupon the county physician, accompanied by a police sergeant, went to the home of the deceased, procured the body, performed an autopsy, declared that Mrs. Lampkin had died of peritonitis caused by a gallstone which had ruptured the lining of her stomach and that an operation would most certainly have saved her life. The county physician, Harvey W. Hartman, marked the death certificate: "Neglected case by Christian Science."

His next step was to bring before a Justice of the Peace one Mrs. Alice H. J. Morris, the "healer," and one Mrs. Beulah Webster, the "reader." They were held for the Grand Jury in $2,000 bail each as material witnesses. Bond for both women was furnished by John Lampkin, son of the deceased, who said he would have called a physician had he realized the seriousness of his mother's plight.

"Wolf! Wolf!"?

In Paris, Professor Albert Calmette, Assistant Director of the Pasteur Institute, "a man of eminence and discretion," stepped to the lectern of the Academy of Medicine. Before him sat distinguished savants, among them Mme. Curie and Prof. Pierre Roux. From his quiet, austere laboratory Calmette had brought with him papers that were the fruit of 20 years' patient inconspicuous labor. Calmette read, finished, the chamber vibrated with vociferous applause.

What he had said, modestly, was that he had been successful in "an attempt to protect nurslings from the infection of tuberculosis."

The Substance. A vaccine. labelled "BCG," obtained from special culture of the Koch bacilli, weakened subsequently by the grafting of 230 successive cultures on bovine bile. To be injected or administered through the mouth.

Results. Cows and monkeys inoculated with "BCG" remained uninfected for 18 months, 1) when left for weeks in contact with other animals strongly infected with tuberculosis, 2) when

sign of infection.

Claims. Dr. Calmette did not claim curative powers for his vaccine where tuberculosis is already present in an organism. But convinced that the disease is not hereditary, he offered protection to healthy persons through annual vaccination. Reports of his human experiments spoke only of "nurslings," but it was inferred that healthy adults will also be his beneficiaries. He pointed out that years must pass before it could be affirmed that tuberculosis is "conquered."

Comment. New York Herald-Tribune: "Claims for a specific nostrum. appear with such frequency . . . that France fears it to be another case of crying 'Wolf! Wolf!'"

Dr. William H. Park, head of Research, Vaccine, and Chemical Laboratories, New York City Health Department: "Tuberculosis vaccine has long been used on animals. In America it was used by the Department of Agriculture of Pennsylvania. . . Until we see a protocol on the subject we are not in a position to judge whether it will be a practical solution in immunizing the human race."

Dr. H. A. Patterson, Supervisor of the Medical Service of the National

It is commonly thought that marriage of first cousins is bad for the health of their descendants. On the other hand. students of Eugenics are convinced from the study of such cases that these marriages are not necessarily bad, except when they tend to intensify certain bad traits that may happen to be domi. nant in both of the persons intermarry. ing. Dr. Douglas P. Murphy, of Rutherforton, N. C., now describes a case of a family whose earliest known member from Germany settled in Pennsylvania in 1731. His descendants have remained to a great extent in the same locality and have remarried to a large extent. Every member of the family that lived to adult age married and had many children. There were seven cases of marriages between first cousins. This seemed to have no effect on the number of children or on their health. There appeared to be no record of physical abnormalities anywhere in the family, and there was only one case of slightly impaired mentality. The only factor noted which might seem to be unusual was the high infant mortality rate, and it was Doctor Murphy's belief that the exceptionally high infant death rate might have resulted from the constant inbreeding.

Current Situation

The arrival of the seasonal Summer dullness in trade, superimposed upon a period of trade and manufacturing depression, has resulted in dull and inert commercial conditions. The political Conventions have meanwhile served to distract attention from business affairs, and with the prospect of unsettled conditions in politics for the next four months, there is a tendency toward watchful waiting all along the line from producer to consumer.

Wall Street, however, after several months of an uninteresting experience with meaninglessly see-sawing prices, is now getting the old-fashioned thrill that only a sudden decline in interest rates can give. Bonds and stocks with fixed or certain dividends are making "new highs" daily. Yet, on the basis that it takes something more than cheap money to produce rising markets and prosperity, investors are still gun-shy of industrial stocks for the most part. The Great God Livermore has yet to declare himself convinced that in the industrials the turn has come. But it is too much to believe that the speculative leader is unaware of the soaring investment markets, or that he has not profited somewhat thereby.

It is conventional for the business cycle to begin with cheap money and rising bond prices. The return of industrial prosperity and higher industrial stock prices comes later. Just now, half Wall Street, at least, is wondering—how much later?

Cheap Money

un

While money rates are now doubtedly low, there are plenty of precedents for the present situation in recent years. The rates are now undoubtedly lower than at any time since the entry of the U. S. into the War in April, 1917. Yet 60-day time money went for 2% in June, 1914, 234 in July, 1913, and 21⁄2 in early months of 1911 and 1912 both, while it touched 134 in midsummer, 1908, and 11⁄2 in 1894. Commercial paper similarly was down to 31⁄2 early in 1911, 1912 and 1914, to 3 from May to August, 1909, and to 234 in 1894. Present time money at 3% and commercial paper at 334% are not therefore so very sensational, after all.

Yet the drop in rates has come so quickly that considerable disarrangement has been produced. The savings banks, which in Manhattan have been paying 4% on deposits, have decided to continue that rate. But there is further talk of reducing the New York Federal Reserve rediscount rate from 3% to 3% in order to bring it into closer relationship in the market rates. Yet opposition to such a step has developed, on the grounds that the present surplus of funds will not long continue, that in

flation may be caused by too low rates, and that bankers are trying to promote Mr. Coolidge's election by reducing interest charges to stimulate business.

Corn, Oats

The luck of the long unlucky "grain belt" remained good. Wheat slumped somewhat, after its recent sharp advance. But its place was taken by corn and oats. The former has risen to over $1.00 a bushel, while the latter has already passed 50¢. Since Jan. 1, corn has risen over 20 and oats over 10¢, thus adding over $500,000,000 in value to the corn crop and about $125,000,000 to the oat crop. As far as the former is concerned, rising prices of moderate extent for all staple grains is much more beneficial than simply a runaway market in one of them, even wheat. Prosperity in the latter case is confined to certain sections and to specialized farms, whereas under the former and existing conditions it is spread throughout the country.

The immediate effect of better grain prices should be seen in the repayment by the farmer of bank loans and taxes which have troubled him. Moreover, in this Presidential year, it presages well for the candidacy of Mr. Coolidge and badly for Mr. La Fol lette. The increased cheerfulness produced in the "wheat belt" by rising prices is now beginning to be rivaled by the optimism of the even longer "corn belt." Moreover, the rise comes at just the time of year when the farmer can most easily profit by it himself.

Unstable Rubber

One of the striking developments of business this Spring has been the practical break-down of the British plan to stabilize rubber prices.

The collapse of rubber prices was serious to Britain, who has large investments in rubber plantations. Thus, when the "Stevenson Scheme" to raise and maintain rubber prices by curtailed production was announced the British entered into it with enthusiasm, although different interests failed to agree to the price at which crude rubber should be held.

Unfortunately for the rubber ma nipulators, 70% of rubber production is sold in the U. S. American rubber buyers considered the higher prices unreal, and bought only from hand to mouth. Moreover, the general adop tion of cord tires tended to reduce rubber consumption because of their better wearing qualities compared with fabric tires.

The Dutch gave the "Stevenson Scheme" its coup de grâce by refus ing to restrict their considerable rubber production, and unloading thei product on the syndicate. Rubber

instead of reining at the pegged price of 30 a pound, has declined to 22. Even on the best British plantations the cost of production is something like 18 a pound. The chief solution proposed to the rubber growers' dilemma is to increase the use of rubber in floor coverings, and to amalgamate plantation companies so as to get a real control over their operations.

"Nickel Plate"

Continued rumors in Wall Street and elsewhere concerning the Van Sweringen brothers and their plans for consolidating railroads were confirmed

when it was announced that their leading road, the "Nickel Plate" (the New York, Chicago & St. Louis), had virtually acquired control of the Erie. The growth of the new Van Sweringen system, which has not yet reached its end, began by important consolidations under the Nickel Plate. Last February,

Nickel Plate assumed control of the Chesapeake & Ohio. In the late Winter and Spring, the heavy buying of Erie on the Stock Exchange occasioned much comment. Evidently much of it was for the Van Sweringens. The next road due to be acquired, the story goes, is the Pere Marquette, and then perhaps the Virginian and the Pittsburgh & West Virginia.

This new "Nickel Plate system" which has grown up so rapidly, will extend from the Atlantic seaboard ports of New York, Newport News and Norfolk, to such important inland centers as Detroit, Grand Rapids, Toledo, Buffalo, Pittsburgh, Akron, Cincinnati, Cleveland, Charleston and Lynchburg.

If plans stated above are finally carried out, the system will be one of the greatest in the country, with a funded debt of $715,257,000, common and preferred stocks of $494,323,000, and in 1923 a gross revenue of $362,500,000.

Doheny

Edward L. Doheny must realize that American politics as well as placer mining, is a fickle pursuit. Four years ago he contributed $75,000 to the Democratic national campaign, was Second Vice President of the Democratic Central Committee of California, and was known as the "Boss of the Southwest." He had in This employ four retiring or retired members of Wilson's Cabinet: W. G. McAdoo, Secretary of the Treasury; Thomas W. Gregory, Attorney General; Franklin K. Lane, Secretary of the Interior; and Lindley M. Garison, Secretary of War. California politicians even urged his nomination For the Vice Presidency to run with Fames M. Cox.

The "Teapot Dome" explosion has hanged all this, and now nobody wishes to claim connection with Mr.

Doheny. The master of Pan-American Petroleum, however, has gone ahead with his naval reserve contract

Underwood

MR. DOHENY

His tanks are ready

and built the oil storage tanks at Pearl Harbor, Hawaii, despite the fact that the contract is now under attack and in fact in litigation. The tanks are ready, but just who will fill them has not been decided. Under the contract, Pan-American was to furnish 2,500,000 barrels of oil for this purpose. But because of court procedure, Pan-American need not go ahead with this clause of the contract.

Slump

While the political parties are indiscriminately blaming each other for real and imaginary ills in the business world, wiser and more judicious students of industry and trade are finding the explanation of the present depression, as well as the probabilities for improvement.

The monthly review of the Federal Reserve Board stated that production had declined about 10% during last May, factory employment about 4%, prices 1%. This pronouncement was scarcely news during the last week in June, although it made clear just how bad things had become a month earlier. The Board held out no especial hope for an early improvement in the general situation, and ventured few opinions as to the cause of the recent decline.

Leading bankers proved equally

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cryptic. Mr. W. W. Head (Omaha, Neb.), President of the National Banks Section of the American Bankers' Association, in an address before the Wisconsin Bankers' Association, stated that the country was passing through a period of depression which has upset the economic balance, and has led to attempted remedies which are frequently unsound. Many business men had already suspected as much. The A. B. A. has been studying many things, including agriculture, but the results of its ruminations so far not very illuminating. President Head declared that bankers must be not only bookkeepers, tellers, cashiers and lenders of money, but also economists, business men, psychologists and statesmen, and urged the importance of performing

are

the duties of citizens. But what Mr. Head thinks of business conditions he apparently locks in his bosom.

Some Bananas

The famed Banana Song, however justifiable in 1923, is completely out of place this year. This is not so much due, however, to crop conditions as to the late Spring in the U. S. Ordinarily demand at the fruit stores begins in April, and exceeds the supply until about July 4. But consumers do not eat bananas in sleet storms and cold weather. This year the banana dealers' yellow bunches dangled under their canvas awnings in vain. Importation into New York by one large company is only about half of normal, while prices on a bunch are down from an average of $4.50 to $3.00.

The perplexities of the banana dealers have recently attracted the attention of high finance through the decline of Cuyamel Fruit Co. stock on the ticker tape, amounting to almost 20 points. In addition to the weather, this and other fruit companies have a neverceasing problem with Central American revolutions. Cuyamel owns over 53,000 acres in Honduras, of which 12,000 are under cultivation for bananas. These properties are the chief sources of revenue for the Government and employment for the inhabitants, so in the recent Honduras revolution both parties avoided injuries to Cuyamel's banana groves.

Mr. Hertz's Deal

Mr. John Hertz of Chicago (TIME, May 5) is not easily discouraged. Beginning as a copy boy at eleven in a Chicago newspaper office, he emerged a few years ago as the genius of the Yellow Taxicab and other kindred companies, whose tremendous rise was the sensation of the Chicago Stock Exchange in recent years. Then he brought his stocks east and listed them on the New York Stock Exchange, where they underwent a disconcerting deflation. As if to repay New York's lack of hospitality, Hertz has now completed a new $25,000,000 coach merger, whereby the Fifth Ave. Coach Co. of New York is to be merged with the Chicago Motor Coach Co., along with the New York Transportation Co., under the title of the Omnibus Co. of America. The Interborough Rapid Transit Co., which formerly owned 51% of Fifth Ave. Coach, sold out to the new combine.

Mr. Hertz, now a national figure, got his start in the motor business as an automobile salesman, and his start as a motor operator by buying three taxicabs and borrowing seven more. From this start the Yellow Taxicab Co. of Chicago sprang. Hertz succeeded in injecting responsibility and economy into a chaotic industry.

Meeting

High over the Bay of Bengal sped a lone seaplane, bound for the coast of Burma. Looking down on the watery waste, the pilot beheld three other seaplanes, west-bound. The man above was Major A. Stuart MacLaren, British Air Force; the planes below bore Lieutenants Smith, Wade and Nelson, of the U. S. A. It was the meeting of history's first roundthe-globe air-racers, but the participants did not stop to exchange greetings.

The American contingent led by some 6,000 miles, having completed more than half of their 23,000-mile circuit when they alighted that evening at Calcutta, India; whereas the Briton had about 17,000 miles be tween him and England when he reached Rangoon, Burma.

Three divisions of the Americans' flight remained: Calcutta to Constantinople, Constantinople to Hull, Hull to Mitchel Field, L. I. (via Iceland, Greenland, Canada). They were expected to be back in their hangars by Aug. 8.

Night Mail

Far less dramatic than the world flight-but infinitely more important —is the inauguration of the 36-hour night air mail across the Continent. New red, white and blue mail boxes will be placed at many important points in New York City and at various stopping places along the route. Mailable matter will be carried provided parcels do not exceed 50 pounds in weight and 48 inches in girth. Rates are: eight cents an ounce for any one zone (the three zones being between New York and Chicago, Chicago and Cheyenne, Cheyenne and San Francisco) and 24 cents an ounce for the entire trip. It will be a deep source of chagrin to stamp collectors that no special stamps will be issued.

The westward voyage will require 34 hours and 45 minutes, the eastward trip 32 hours and 5 minutes. The discrepancy is due partly to helpful winds on the return trip, partly to the fact that westward the pilot is beating the sun, eastward he is travelling in a direction opposite to that of the sun, and therefore (see Einstein's relativity) flies faster over Mother Earth.

The actual night flying zone will extend only 1,460 miles between Cleveland and Rock Springs, Wyo., with 335 miles from Cleveland to Chicago, and 240 miles from Cheyenne to Rock Springs, illuminated only when the long days of Summer have disappeared. The illuminated airway, a marvel of engineering, has received the coöperation of the General Electric Co., the Sperry Gyroscope Co.

and the American Gas Accumulato Co. The combined candle power all the lighthouses and beacons will be 5,279,000,000. At the main light ing stations (Chicago, Iowa City Omaha, North Platte, Cheyenne) the towers will carry electric light bea cons of 500,000,000 candle power vis ible for 150 miles, set slightly above the horizon to meet the eye of the pilot in the sky, and flashing 'round in a circle three times a minute. I candescent acetylene lights of 5,000 000 candle power will flash at inte mediate points, 22 miles apart and every field will also have all obsta cles illuminated, floodlights for th actual landing, and illuminated win vanes. The planes themselves will be lit up at tip and head.

For the present, the service wi still use the remodelled DH plane of 90 miles an hour cruising speed and 500 pounds capacity.

Post-Postponed

Again Captain Roald Amundse Norse North Pole habitué, was give pause on his way to the Earth's uppe end. This time the impediment was 2 invoice from his Pisa (Italy) plane makers for £14,000. Until that wa paid, said they, he would have to com tinue waiting at Christiania for h three Dormier planes.

Hearing of his embarrassment, th Italian Government gave Amundsen te days to find money before it reorgan ized the Polar flight under Lieut. Loa telli, the Norwegian's chief pilo Amundsen was to be offered the post sub-commander under Locatelli.

To that plan Amundsen said: "I r fuse. I hope to find the money. I wi go next year."

Said U. S. Secretary of the Na Wilbur to Lieutenant Ralph Davis American pilot of Amundsen's No. plane: "Come home from Rome."

The first setback Amundsen's pol flight received was early last Wim (TIME, Jan. 28), when his plan financing himself through the sale motion pictures was scuttled by = nouncement of the U. S. S. Sheno doah's now-abandoned trip.

Another expedition is about to sta from London for the Arctic regio Under the auspices of Oxford U versity, it will aim for North-E Land, an island 90 miles square, nort east of Spitsbergen. North-East La baffled Norwegian explorers in 18 Germans in 1912.

The Oxonians will use a specially signed seaplane, having a closed cal and equipment for ice landings. It w carry a collapsible boat, provisions f five weeks. George Binney, leader last year's Oxford expedition, will co mand.