how much will your capital increase in the next 10 YEARS? 'N the past ten years we have wit IN nessed an almost amazing expansion of American business, with an attendant uprush of security prices. Whether this growth will continue at the same rate, of course, is problematical, yet your money must continue to be invested The next ten years will see many changes They may hold for you failure or larger success. And money-its lack or its possession-obviously will play a most important part Upon the wisdom of your investment selections, then, depends in large measure your business progress, your freedom and your happiness This advertisement is written for men who today are successful and who have the foresight to prepare to profit to the fullest extent from the developments of the next ten years These men appreciate the necessity of choosing sound, growing investments, as well as the difficulty attendant upon such choice The following paragraphs may be the means that will enable you to say in 1938, “I have gained my measure of success", instead of “I know now the mistakes I made" Two ways are open There are two roads open before you your business and your investments It is with the second that we are concerned and have been for nearly a quarter century During that time we have accumulated certain experience and equipment A certain standing and national prestige have national institution depends on just one thing: the ac Many men know that they should have this Brookmire Now is the best time For your convenience we have attached a coupon that will bring complete information concerning this Service and our booklet "Consistent Investment Success". With security prices at their present levels and with prevailing uncertainty as to the future trend this, especially, is an opportune time to find out what Brookmire Service really is, its scope and what it can do for you. Simply mail the coupon. Inquiries from west of the Rockies should be addressed to the Brookmire Economic Service, Russ Building, San Francisco, California. been acquired, due solely to the results that Brookmire BROOK MIRE has secured measured in terms of greater profits and greater capital safety for every client. We believe it is conservative to say that 96 of every hundred men reading this advertisement have not-over the past 5 years, or 10, or 20 years-secured consistently as high a return as they would have through following Brookmire advice And yet, these men may have been highly successful in business Example after example combine to show the reason for this almost universal situation Regardless of your ability the time you have available for a study of investment is tremendously limited Investment with you must be an avocation And, as an avocation, it never can be fully successful Contrast with this, Brookmire Here, investment counsel is a vocation, is our sole business-with our entire staff working constantly on it. Conclusions are arrived at after consideration from every angle There are no snap judgments There cannot be, for Brookmire Service as a 1 ECONOMIC SERVICE, INC. An organization-national in scope-whose business is to provide investment counsel to individuals and institutions whether the amount be $5,000 or $1,000,000. THE OUTLOOK, June 20, 1928. Volume 149, Number 8. Published weekly by The Outlook Company at 120 East 16th Street, New York, N. Y. Subscription price $5.00 a year. Single copies 15 cents each. Foreign subscriptions to countries in the postal Union, $6.56. Entered as second-class matter, July 21, 1893, at the Post Office at New York, N. Y., and December 1, 1926, at the Post Office at Dunellen, N. J., under the act of March 3, 1879. Copyright, 1928, by The Outlook Company. From Publisher To You Two things in this issue have made us reflect. One is William Allen White's remarks about the Republican Convention at Kansas City. The other is Claude Bragdon's paraphrase of the philosophy of the Hindu, Krishnamurti. "Do not shun life, therefore, nor be afraid to adventure and experiment. . . . For if you trust life, instead of fearing it, you will find that life will itself sustain you. . . . Self-mastery and the understanding of life are necessary for spiritual enlightenment, and these can be gained best by living." So says Krishnamurti. And we imagine that most of our younger generation will agree with him. Katherine Mansfield has recorded in her diary, written only for herself, how she looked at the mountains, and prayed to God-and thought of something clever. Leonard Bacon in a recent review says: "To be jocular with the tangled psychological and physiological passions of men and women, to view them as at once comic and of no importance, is a spiritual giveaway. It proves deadness of soul." CERTAINLY, arrival at some method of understanding ourselves seems to be the thing that most people nowadays are after. Increasingly it is taking some such form as Krishnamurti suggests-a desire to live fully, in order that we may understand what manner of beings we are; and then positively to mold ourselves and our world after what we have discovered. AND meanwhile, what of William Allen White? Says Mr. White: "When a great party like the Republican Party resolves to keep business out of politics and politics out of business, when it abandons the purpose of its founders to make the Government an agency of human welfare, the best minds of the country go into business and party politics are conducted by a lot of animated rubber stamps." So far have we gone from the men of 1776, the Continental Congress, and a generation that knew what it believed and carried its personal beliefs into public action, politically, and on the field of battle. Francis Profers Bellamy The Outlook June 20, 1928 The World This Week Stale, Flat, Unprofitable JUST as we were about to pronounce McKinley. This is worse than anything striking leadership. There is not an epi- and that in a desultory way." "There is no more interest here in the McNary-Haugen Bill than there is in the Missouri Valley." He supports that opinion with the results of a poll conducted by his paper. The response to post-cards was less than fifty per cent; of the votes tabulated, two to one were against the measure. "This same weariness of the flesh is manifest in the delegates. No one is talking prohibition. The New York delegates have made no impression. No one is voicing opinions on the World Court, Nicaragua, or anything. . . . Rumors are not rife. No one is excited. ... Mr. Hoover will control the Committee on Credentials, but no one cares. At Chicago in 1912 the control of the Committee on Credentials was as vital as the capture of Verdun. "I talked to a man who had read the keynote speech. He could not remember a syllable of it. The Convention will meet because it is probably easier to meet than to wrangle in a hotel. It will name a candidate because of the pressure of the order of business. But it is without spontaneity, without ginger, stale, flat, and unprofitable. "When a great party like the Republican Party resolves to keep business out of politics and politics out of business, when it abandons the purpose of its founders to make government an agency of human welfare, the best minds of the country go into business and party con ventions are conducted by a lot of animated rubber stamps debating solemnly whether to bow down in worship to an adding machine like Mr. Hoover, a cream separator like Mr. Lowden, or a back-firing tractor like General Dawes." The Vice-Presidency FOUR or five days before the Republican National Convention opened at Kansas City on Tuesday some friends of Representative John Q. Tilson, of Connecticut, engaged a room at one of the smaller hotels to advance his candidacy for the Vice-Presidential nomination. Two or three newspaper correspondents drifted in during the day, their curiosity aroused by the news that some one was actively seeking this office, and even was spending money in the cause. They found a virtually deserted headquarters, not far from the Convention Hall, with an amiable and earnest young man in charge. He explained that Mr. Tilson, who is the Republican Floor Leader in the House, was not really anxious for the nomination. He was, in fact, not a candidate at all. But his friends felt that he was eminently qualified, and were therefore ready to start his boom. "Mr. Tilson's most important qualification," the young man said, "is that he comes from a doubtful State. Next in importance is the fact that he hasn't much money. Thirdly, he was born in Tennessee, and therefore would be popular with the border State Republicans who may bolt the Democratic Party if Al Smith is nominated." Mr. Tilson's supporter has summed up fairly completely the standard qualifications for the Vice-Presidency. The Slogan Man ONE of the important personages who arrived early in Kansas City was J. Henry Smythe, Jr., of New York, generally known as "the Slogan Man," but sometimes called "the Grand Old Party Megaphone Man." Mr. Smythe arrived in town bristling with slogans. It made no difference to him who was nominated; he had an apothegm for any eventuality. For instance: "Who's for Hoover? Everybody. Curtis Can't Hurt Us. Keep Coolidge, He Keeps the Faith. Choose a Man Like Dawes to Protect Our Laws." Mr. Smythe is actually taken seriously at National Conventions. He has been working at his strange profession for years, and did heroic service during the World War writing slogans booming Liberty Bonds, the A. E. F., and France. He has attended most of the Republican Conventions since 1900, and admits responsibility for "Republicans Have Used Axes on Our Taxes." Mr. Smythe's 'conscience does not permit him to write Democratic slogans, despite his versatility, so his rôle at Houston will have to be played by some one else. Those Who Are Not Present THE impartial observer at the Republican Convention cannot avoid a sensation of surprise that so many important movements in the United States, so many causes that are of the first importance, seem to be represented either not at all or only very casually. Doubtless there are plenty of professional lobbyists working behind the scenes. They are familiar with the places where the important committee work is going on. They know that it is better to influence one member of the platform or resolutions committee than to harangue a thousand delegates. As far as the outward scene is concerned, however, labor has no interest in the proceedings. No one is handing out bills demanding the closed shop. No voice is being raised against the coal situation in Pennsylvania. The anti-prohibitionists, knowing it to be useless, are making no appearances. Even the usually militant National Woman's Party seems to be contented with a small table in a hotel lobby. An occasional handbill is distributed, but that is all. The Derby THE COsters' carts were missing, and the famous old coaches, and a new colt was crowned; otherwise the Derby was as it has been and as it likely will be when we are dead-the greatest spectacle in the world of sport. For 364 days Epsom Downs is a bare and unsightly strip of roughly undulating land, interspersed with stretches of rugged gorse; the next day it is a spectacle without equal. The King and the Queen are there, and the Prince of Wales, and the lords and their ladies, and 'Enery and Lizer and the nipper. And all have a shilling or a quid or a fortune on the 3-year-olds. So it was this time, and so it will be in years to come. There is nothing like the Derby, for it is a feature of natural growth and inception. One hundred and forty years have gone into its making. It is so much of an institution that the World War could not crowd it off the Downs. It is beyond the power of the Rickards to create a national holiday, promote an event that lifts cobblers and clerks into the moneyed classes. The winner was Felstead, an almost unknown outsider, owned by Sir Hugo Cunliffe-Owen, and those who backed him got 33 to 1 for their money. His win was characterized as the most amazing racing upset in recent years. Only one of the first seven favorites, Flamingo, finished in the money. Fairway, the favorite, was near the tail of the procession. And of course fortunes were made and lost. The owner of the Felstead ticket in the Calcutta Sweepstakes, once a sailor, is now a millionaire. He won approximately $1,255,000. A Glasgow woman, drawing a ticket on Black Watch, is richer by about $300,000. A cobbler who had the same horse in the Stock Exchange Sweepstake is worth today about $100,000. sound planning, equipment fitted for the purpose in view, and proper heed to navigation, security, and joint effort. From California to Hawaii, 2,400 miles; from Hawaii to Suva in the Fijis, 3,138 miles; from Suva to Brisbane, 1,762 miles in all, 7,300 miles, with but two stops, and those on mid-ocean islands! This is a feat of the first mag nitude. Twenty years ago we should have called any man crazy who should predict that by any means whatever man could go from California to Aus tralia in a week and a day; yet that is just about the full elapsed time of the Southern Cross, and out of that should be taken about four and a half days to get the actual flying time-eighty-four hours. Across the wide Pacific in three and a half days of actual flying is a record that will take some beating, as the English sportsmen say. Captain Kingsford-Smith, his Austra lian comrade and co-pilot, Ulm, and their two American friends, Lyon and Warner, made up a notable flying quartet. They encountered heavy weather on every one of the three legs of their great voyage. Skill, knowledge, and courage played equal parts in their success. They amply deserved the rousing greetings they met at Brisbane and at their final goalSydney, just a step away from Brisbane, say 500 miles! Is Nobile Found? THE mystery of the Italia continues There had been half-heard messages in the air, but up to June 9 none of these were authenticated as from the Italia On the date just mentioned, however, a newspaper agency in Rome announced that the Citta di Milano, base ship at Spitsbergen for Nobile's expedition, had maintained radio communication for twenty minutes with the Italia. The dirigible gave her bearings, it was stated which corresponded to a place twenty miles north of Cape Leigh Smith, the northeasterly extremity of North East Land, which is between Spitsbergen and Franz Josef Land. Later reports from Spitsbergen as serted that beyond doubt communication had been held between Nobile's party and the base ship; that the lost men are all alive on pack-ice 80° 30' north and 28° east; and that they are divided into two parties. Every effort is being di rected as we write (June 11) to reach and rescue Nobile and his crew, by ice breaking ship, planes, and sleds. The latest report at that date was that Lieu tenant Holm in a seaplane had found two of the crew injured and that the The Outlook |