An organization to be called the "Reserve Association of America," governed by forty-five directors, which will gradually absorb the privilege of issuing currency until it becomes the executive agency for that purpose, and have other large powers, is the plan of currency reform devised by Senator Nelson W.
In an unusual address delivered before the New York County Lawyers' Association at the Hotel Astor recently, Samuel Untermyer advocated the absolute abolition of what he described as "the financial device known as 'the holding company,' " describing it as a "recent financial abomination" and one of the most prolific means of oppression of the investing public.
Governor Bass of New Hampshire in his inaugural address, among other matters, recommended the ratification of the proposed income tax amendment to the federal Constitution, favored the nomination of United States senators by direct vote of the people, publication of campaign expenses, and creation of a public service commission.
The report of the board of army engineers appointed to consider, the advisability of the continuance or abandonment of reclamation projects in the semiarid regions of the West has been made public.
The United States circuit court of appeals sustains the action of the United States district court for the northern district of New York, dismissing three petitions in involuntary bankruptcy which were filed by creditors against three heating and lighting companies.
Announcing that conspiracy under the Sherman antitrust law is a continuing offense, the supreme court of the United States holds as good the indictment in New York in 1909 of two men identified with the sugar cases, who pleaded the statute of limitation.
The managers of the Sage Foundation Homes Company have announced that early in the coming year they will be ready to open Forest Hills Gardens, Long Island, in distance nine miles and in time thirteen minutes from the new Pennsylvania depot in New York, which is planned as a model suburb to provide homes for persons on moderate salaries.
At the twenty-second annual convention of National Association of Railway Commissioners, in session at Washington, President Decker, who is a member of the New York public service commission and an authority upon questions of this character, said: "The whole matter of express service and express rates demands careful and thorough examination, with a report upon existing conditions and any indicated remedies.
