ITEMS OF INTEREST May 13, 1911 Issue

ITEMS OF INTEREST

The Democrats of the House will investigate the entire sugar industry in the United States, according to a decision reached last week by the committee on rules, which was called together to consider the resolution introduced by Representative Hardwick of Georgia, calling for an investigation of the American Sugar Refining Company. A resolution has also been introduced to investigate the American Woolen Company of Boston. It calls for a special committee of five and for a sweeping inquiry into the relations of the company with a long list of mills and to ascertain if the company has endeavored to control the price of raw wool and the sale and output of woolen goods. A resolution of Representative Stanley also calls for a sweeping investigation of the United States Steel Corporation. The steel resolution, as amended, provides for the election of a committee of nine members of the House to do the investigating. They were directed to ascertain whether there have been any violations of the interstate commerce laws, the anti-trust laws, or the national banking laws. If any such violations have not been prosecuted by the department of justice a particular report is required. The United Shoe Machinery Company will probably be investigated.

Agents of the forest service have already begun the work of buying up from their private owners the lands included in the Appalachian-White mountain reserve. Although comparatively few offers of tracts of great size have been made to the government, the gradual process of examining, appraising, and negotiating for purchase is reported as being satisfactorily under way. According to recent statements it appears that the southern section of the reserve created by the Weeks bill is responding more promptly to the call. Among the purchases of considerable area in New Hampshire, however, now under consideration, may be mentioned the Bean purchase offered south of Shelbourne and the Thomson and Meserve purchase, which includes Mt. Madison and Mt. Jefferson and lies just below Mt. Washington. Various tracts of much smaller size have reached a more definite stage in the course of changing ownership.

The executive council of the American Bankers Association, which held its session at Nashville, Tenn., unanimously indorsed the Aldrich plan for monetary legislation, with a few revisions in matters of detail. Ninety per cent of the members of the executive council were present. The resolution in full was as follows: "That the executive council of the American Bankers Association heartily approves the plan for monetary legislation suggested by the Hon. Nelson W. Aldrich, as modified by the currency commission of the American bankers committee of the currency commission, for extending the benefits of the plan to state banks and trust companies. We firmly believe that it is thoroughly practical, fundamentally sound and comprehensive, and that if enacted into law it will correct all the principal defects of our present banking and currency system."

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