The Southern California Trojan, Vol. 12, No. 37, December 03, 1920 |
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alifornia Vol. XII Log Angelei, California, Friday, December 3, 1920 No. 37 PI BETA PHI BAZAR OPENS THIS AFTERNOON PI Beta Phi sorority, making final arrangements for their Christmas b||nar to bo held at their house, 748 We9t Twenty-eighth street, from 2 o'clock this afternoon till 12, ciflfelly urges all U. S. C. faculty and slWfents to attend. Dancing all evening, a program, concessions, shooting galleries, and attractive booths, are a few of the fea-ture8 of the affair which the sorority ti staging to raise revenue for the permanent house fund, which is already established. The girls state that a peek in will be of advantage to Christmas shoppers. The booths, which promise an elaborate display, will Jae divided into classes and the following girls will be In charge: Meldon Schew will guard the candy and haberdashery, while “Art" will be left to the discretion of Florence Mullen. Fancy work will be ln the charge of Ella Mosely and Lucile Long will hold forth at the baby booth. NOT they will only sell things for babies. The parcel pose end of the work Is to be handled by Marjorie Sparey, while a booth called the “White Elephant,” whatever that is, Mrs. Piersall promises1 to clear up this afternoon. Eats will be kept track of by Hilda Blatz. General supervision is under Mar-gurite Giffen, and she says that a great deal of hard work has been done to make the bazaar a success. She promises a few surprises, and says that a big auction will be held at the close of the evening and every article will go to the highest bidder. MMAIVICA “Exquisite!” “Oh! how lovely.” “I spoke up for that!" were some of the exclamations which oozed forth from the Y. W. C. A. Inner office yesterday noon. Real mandarin pillow tops with dragons imbroidered in gold, filmy cream Chinese laces, dainty insertions, oriental beads fairly dazzled the eyes of a roomful of enraptured girls. “Such ideal Christmas gifts,” suggested one voice. “And very reasonable prices,” added another. “Where did they come from?” “They were sent from China,” explained Miss Biles, dean of women, who was as enthusiastic as any of the students. Miss Biles introduced Margaret Trundle, a student of U. S. C., who is selling the novelties. Miss Trundle's parents are missionaries in China, where Miss Trundle herself ?as born. One strand of beads, which Miss Trundle showed, which had mysterious figures interwoven ln dark colors, proved to be a sort of charm strand, each little curved insignia, having specific interpretation, as, for instance, BMd luck, long life, happiness, love, etc. These, as well as all the other “cey things, were much ln demand. There are a few of the Chinese daln-“es a' the Y. W. C. A. office and Miss Trundle has stated that lt would be ■^Possible to obtain more before thristmas, so she advises anybody w“0 is interested to see the display w soon as possible. Successful Basketball Season Predicted For U.S.C. Football has been stowed away on the shelf for another season, the moleskins and the rest of the paraphernalia are now reposing In storage awaiting another year. With the close of the present wonderfully successful season, the eyes of the sport loving youths are now turning toward the noble art of chasing the rotund casaba. Basketball Is coming Into its own. Frosh Material 8trong With the complete team of last season back in the field, plus two or three acquisitions in the persons of Long-lawn Boyle, Ellis Eagan, Paul V. Oreene and Babe Calland, the team will be in a fit condition to take on all comers all the time. Competition 8trong With the Butterfields and Captain Hinrichs, with Boeck and Grant Kuhns, with Fred Axe, Toolen, isenhouer and Charlie Graham all raring to go, the competition for positions ought to develop a pretty flght. Where there are a goodly number of men battllng'Tor a job ln any branch of sports, that sport can usually be depended upon to bring about results that end up in a swift, fighting com bination. Basketball Promises Well This season basketball has great promise, and the school should come through with a little more interest than they have ln previous seasons. As yet no schedule has been announced, but it is rumored that both California and Stanford will be seen in action on the southern courts this year, and that the team is scheduled for a short trip in a northerly direction, ln the form of an Incentive or the like ffor the year. All of which means well. Needs a Push Basketball needs a little push behind it that will send lt off in a blaze of determination this season. With the teams that U. S. C. will play and the amount of material Coach Henderson will have to work with, there Is no reason why the season cannot be made a marked success for Old Trojan. mis of mme “Banks of today function between the excess products, cash, or other available commoditties on one hand and commuaities or industries that need another surplus on the other hand,” said Henry Robinson, president of the First National Bank and the Los Angeles Trust and Savings Bank, at the College of Commerce assembly in the chapel at 11:40 yesterday. In general, Mr. RoblnBon dwelt on the evolution of the banking system. He explained how forty years ago, banks solicited the funds from individuals to supply the requirements of growing industries; the bank was essentially connected with the management of the concern to whom it loaned large sums of money. ‘When the Federal Reserve system was adopted,” said Robinson, “the ■whole banking system was completely changed. The country was divided into twelve districts, according to the general production and movement of commodities. Herein lies the significance. The Federal Reserve system created a common reserve upon which all its banks could draw. This action also released hundreds of millions of dollars. Under private control each bank kept a reserve enough to carry them over a slight do pression; some of the bankB were ultra-conservative and, therefore, with the combining of all the reserves this surplus was available. "During the war the reserve system was called upon to help float the liberty loans. In this stress its elasticity was proven. “Another instance of prime importance is the Inclusion of acceptancies as a basis upon which credit may be leaned to enterprising industries. “On the whole, bankers throughout the United States concur in the belief that the Federal Reserve system is ex tremely beneficial. Of course, there are certain individuals of the old bank-i lg school who object, when only after the rising generation of unprejudiced tankers get complete control of our country's finances will the true worth and elasticity of the new system be proven." PARMECIA GET WILD IN ZOO LABORATORY By Cholla "What’s them grapenuts for?” asked the scared frosh of Miss Beers in Zoo Lab., looking at a nearly full pack age sitting on the desk. “We feed them to the Parniecia,” was the reply. ____ “Ah, now I know why so many of Thirty-seven pre-medical students my cover glasses are broken," said the ®»t in room 14 at 11 -40 yesterday to frosh. “the rejuvenated Barmecia eats organize u Pre-Medlcal Club. Only if ■----------i— en women were present, the others ■ere men. trar 0,<eS80r Montgomery, regis- m ’.. ln 8 few remarks before the au«h’ 8a'd: “There is a place for a c*uh in this Institution to de-,®i*otiHc spirit and social in-of m j, While TJ. S. C. has no college Ul menipin^ *v.---- _ __ x - A.- dem ne’ there are sufficient stu-to u * e'Volled here looking forward act dicat Professional who, if they of v!?(CKrtedly> lnay organize classes »»ces” u raudlcal divisions of scl-“nd Km cited pre-medical zoology alitiuiv i y “Pre-niedical physics has said en °®ered to students," he ^Alben Butterfield was elected presl-He appointed a con- deut Pro-tern “Ututionai , * “PP01**^ “ con-QreeiHv J, COIl*mittee composed of Mr ®an a Townsend and Mr. Trout-»t thi. . co“8titution will be submitted The meetinS of the club.. Thur*da voted lo meet again next the grapenuts and kick 'em to pieces "Yes, sometimes they get mad and throw the microscopes out the window on the window sitters heads,” quoth Miss Beers. And the’ freshman is still wondering. L08T Gold locket from watch fob. Front contained engraving. “WHL," while reverse contained “In Memory of Good Times,” etc. Finder please return to Philosophy Office or to lost and found department, Mr. Huse, and receive reward. LOST Phi Alpha fraternity pin with initials “M. G. B " on back. Finder please notify Melvin Brittan at Law School, Al Wesson at Liberal Arts, or Phi A. house, phone 20114 Reward. IN BODY DEC. 5TH After a year of preparation and organization, members of the U. S. C. Episcopalian Club will participate in their initial formal function next Sunday when ln a body of over 120 they wiil receive corporate communion at Saint Jphn’s Church at the corner of Figueroa and Adams. The Right Rev-William Bertrand Stevens, recently ordained bishop coadjutor of the diocese of Los Angeles, will be officiant. Following the ceremony members of tlie club will assemble in the parish house where breakfast will be served. Though the corporate communion next. Sunday is the flrst formal activity of the club, the Episcopalians at U. S. C. have been organized for over a year. The organization was formed for the purpose of uniting the Episcopalians in the University and bring matters of faith Into closer relation with their college work. Members in the club number nearly 130, ten of whom are members of the faculty. The faculty Episcopalians are Professors Beers, Bissell, Borthwlck, Forester, Goodnow, Honner, Nye, Riddle, Wood and Dr. Wann. Robert Broadwell is president of the club. According to present plans, members will join in corporate communion twice a year. The second corporate communion for the present University year Is scheduled for some time next spring. Officials of the Episcopal church have taken active interest in the ac tivities of the club. It was through their willingness and desire to co operate with the students that the corporate communion, the services of Bishop Coadjutor Stevens, and the use of Saint John’s church were obtained for the club. Giving further evidence of their interest in the welfare of the organization Bishop and Mrs. Stevens will entertain members of the Eplsca-lian Club at their home, 2277 South Hobart Boulevard, Friday night, December 10. While the club has endeavored to send an invitation to every Episcopalian student in the University, the task has been found Impossible, and cordial Invitation to participate ln the activities of the organization Is extended by President Broadwell to all U. S. C. Episcopalians. Post-season publicity will be given Trojan gridiron warriors by the Lasky Film Company through the agency of Messrs. Haris and Bob Lee of that company, who yesterday brought a squad of camera-men out to the Trojan turf for the purpose of Aiming our lusty heroes ln some of the plays and formations that helped to give them the championship ot the South. Later in the afternoon tbe pigskin chasers were transported to the I^asky lot, where they performed ln some of the studio sets. These scenes will be used by Lasky in a picture soon to be released. « DR. FLEWELLING GIVES DINNER FOR ARGONAUTS The regular fortnightly meeting of tne Argonauts, tbe philosophy club of the University, will be held at tbe home of Dr. and Mrs. Flewelling, 2046 Van Buren place, next Tuesday evening, December 7, at 6:00 p.m. The club members will be guests of Dr. aud Mtb. Flewelling at a dinner given by the latter in honor of tbe society, lt is necessary that the names of all members who plan to be present be tn PAULINE PAYNE OF HERALD ADDRESSES PRESS CLUB MEMBERS When your committee asked me to speak here they said that many people think a womanly woman never workB in a newspaper office, so perhaps I am here as a horrible example.” Miss Pauline Payne, feature writer of the Evening Herald, addressed the members of the University Press Club gathered last Wednesday evening at the Chop Suey parlor of Tuey Far Low at the corner of Alameda and Mar-chausalt streets ln Chinatown for their December dinner. Her appearance as she described the “sob sister” to the members of the Trojan staff was set off by the contrast with Tuey's antique and somewhat stained wall paper and ehe looked very capable and very charming. Miss Payne, who Is actually Miss Nellita Choate, waB at one time a student at the University of Southern California. She is a graduate of Stan ford, a member of Phi Beta Kappa hon orary fraternity, Theta Sigma Phi journalism fraternity, and Kappa Kappa Gamma sorority. She waB also prominent in dramatics while at Stanford. She told the Trojan journalists that *he first became Interested in newspaper work because she had an uncle •who said that there were few decent vomen on the stage and none in newspaper work and she wanted to show him it could be done. She worked for three months without pay on the Record before getting her position with he Herald. She particularly likes to interview men of the type of Kid McCoy. “He ■will agree to anything and then take you to lunch afterwards,” she said. ‘I sometimes have to make a story out of nothing, a dog in the back yard hunting for its dead master or something of that sort.” Miss Payne was elected an honorary member of the organization, having expressed her delight in the strange foods served by the minions of Tuey. "Tommy" Metcalfe, last year’s Trojan editor and honorary member of he Press Club, inspired by the remarkable sounds drawn from a music box by a nickel introduced Into a little box, spoke, as did a number of ether members of the club. Freshmen reporters of the Trojan who have been showing particular ability and are considered as possible members, were present in order to get the true Bohemian atmosphere of the organization from the chop suey and the pigeon blood sauce. They were Sarah Taft Somers, Ruth Wolf, Alicia Myrmida Smith, Hector Thompson Browne, Marquis Busby, L. Kllng Stoddardt. Other Freshmen are to be Invited at future dinners. ORATORY COLLEGE PLAYERS READY FOR APPEARANCE BEFORE PUBLIC NEXT WEEK By the Cub EXTENDED TO DEC. 7 Owing to the rain that started yesterday halting all tennis activities, it was decided by the Tennis Club to extend the present tournament until 2:00 p. m. Tuesday, December 7, and give full credit for all matches played during the extra allotted time. If at the end of this time some men have still some unplayed matches chalked up against them tlie final standings will be figured on the strength ot the matches that were played. That is, if some man has played the weaker players and has failed to play some of the stronger ones his standing will be figured accordingly. This will be done by deducting a certain mathematical percentage, making the rating as even as possible for everyone. • Several men have played off their requirements in fine shape leaving only a few matches yet to be played. Following is a list of the men still in the tournament aud the number of matches they have to play: Cleve-Jand, 9;'Frlese, 8; Gatrell, 13; Harker, 5; Horl, 3; Knox, 6; Klmber, 7; Kinsey, 4; Olerich, 6; Palmer, 14; Patterson, 10; Stoddart, 8; Spring, 5; Williamson, 5; Welsh, 1; Thieme, 14; Kepler, 6; liuebner, 9; Blaster, 4. "WITNESSES” SUBJEST OF DR. BETTS’ SERMON Dr. Betts will speak Sunday morning on the subject, ‘‘Witnesses." In the evening Dr. John Hedley will speak on bis Y. M C. A work with the Chinese in France. Dr. Hedley, according to those who have heard him, Is an Interesting speaker with a vital message. ‘Jesus’ Social Teachings” is the topic which has been announced for the J. O. C., and We Boys Bible classes at University Church next Sunday morning. The men and women of these classes meet together for opening exercises and then go to separate class rooms for the discussion A good orchestra Is being built up, making tbe music of After rehearsing several weeks on a play, the cast usually loses all faith in the play and the world in general. Therefore, when the time of stagltig draws near the characters begin to chew their fingernails and lose the sweetness of their dispositions. But—all Is different with the cast of “Mister Antonio,” which Is to be staged at the Gamut Club December 8th and 9th. Up College of Oratory way all Is as calm as a summer’s day. When cornered ln their lair and asked to express their opinion of the play, ,the cast reluctantly unburdened themselves of their opinions. Cast Gives Opinions Paul D. HowBe, as Mister Antonio, says: "Many people have asked me, 'Is this a tragedy?’ In answer I would say it Is Intended for a comedy-drama, with comedy perhaps the biggest fea-turo. Will lt be a tragedy? That will depend on what happens the 8th and 9th.” Lucile Mitchell, as June, says: “Mister Antonio has a quainf1 philosophy that enables him always to sa« the happiness In life, and never the shadows. We can all learn a big lesson from the play.” Joseph Ryan, as George Riddle, chief of police, says of the play: "Small town scenes flavored with Italian spice.” Elsie Mills as Avalonia believes it Is "A*) Italian playing on the heartstrings of humanity.” Ruth Parsons as Mrs. Jorny thinks lt Is "Characteristic of Booth Tarkington—full of human situations and clever lines.” Marquis Busby aB Earl: "And— that's what a fellow gets for trying to be wild." Dorothy Barnhart as Mrs. Wolpole says: “You all know the people in this play. They are to bo found in any small town or any city.” "Curiosity should prompt you to come and see how I steer a baby carriage.” remarks Maurice Cummins. A. W. S. Holds First Mass Meeting Today At 11:40 The flrst mass meeting of the Associated Women Students will be held today at 11:40 in their rooms at 3605H University avenue. Miss Alice Teague, chairman of the mass meeting committee, promises a program that will surpass anything the A. \\% S. has previously attempted. “Every woman in the university/Js a member of the A. W. S. by virtue of her registration, and every one is expected to be present at the meeting," FROSH GAIN FIFTY Two thousands one hundred and seventeen students amble over the campus around Liberal Arts College each day—perhaps—for that Is the total enrollment as given by Miss Russell, assistant registrar. Further noteworthy facts revealed by Miss Russell are»tbat 1200 men are enrolled and only 916 women. Last year, however, the number of men was only half of the present figure, while the women Btudents have increased only 107. The Increase of men students is due largely because of the upturn of service men to complete their education. There are 50 per cent more "peagreen” men enrolled than last year, while the gentler sex have increased by 6 per cent. The sophomore men and women have both grown equally ln numbers, ln the Junior class, however, the increase Ib relatively the same as that of the flrst-year students. The senior men and women break even with a proportionate enlargement of 15 per cent each, while a decided augmentation of 75 per cent is noted In the special men students. The only decrease Is a loss of 25 per cent In the women special students. The "grads” show a slight addition of both men and women. Tbe faculty has also kept pace with the enlarged enrollment this year. Sliice the beginning of the semester the Spanish, English, Commerce and Sociology departments have each acquired two new Instructors and tbe French department has added one. The psychology and sociology classes have grown to such an extent that a subdivision was made ot each. announced Miss Grace Cooper, prMl-dent of the A. W. S., when interviewed yesterday morning. “We want a genuine get-together meeting where everybody will get acquainted and have an enjoyable, good time.” The executive committee of the A. W. S. met last Tuesday at 11:40 to make final arrangements for the rally. Mrs. Milliken Principal Speaker Mrs. Charles E. Milliken, alumna of U. S. C. will be the principal speaker for the occasion. She Is the wife of Prof. "Pat” Milliken of the College of Law. While attending U. S. C., Mrs. Milliken was MIbb Gertrude Pentland. She Is an A. W. S. ex-president and a member of the PI Beta Phi Sorority. She was a graduate of the class of 1916. All colleges of the university will be represented on the program. “It will interest all women,” declared Miss Cooper. "Faculty women are especially asked to attend.” The program Is as follows: Speakers, Mrs. Milliken and Miss Biles, dean of women; piano solo by Virginia Smith and vocal solo by Margaret Crist, both of Liberal Arts; vocal solo, by iBabelle Smith of the College of Music and reading by Loretta Roberts of the College of Oratory. The freshman girls will put on a stunt. — HERE IS CHANCE FOR U.S.C. ORATORS TO SWAT LADY NICOTINE Betnntj tbe fectnes by Monday noon. Members can sign up In the philosophy office, or notify the opening exercises a special tea- 7:43—OK to work By Geraldine Murray We have just received a letter from Mr. Charlie Chaplin who assures us that he finds It extremely difficult to rid himself of little peculiarities which, while for the most part Inoffensive, are at the same time annoying socially. He encloses for us a part of his domestic life. 7:29 -Awakened by combination folding bed and shotgun. 7:81—Shaves, lathering himself plentifully with lemon meringue pie. 7:33—I>asceuds to breakfast by combination of banisters aud every seventh stair. 7:37—Lights cigarette, setting flre to shedded wheats. 7:38—Extinguishes blaze by rolling them In tablecloth. 7:40—Consumes whole plate of pancakes at once, polishing face with last one. 7:41—Starts for door, slight delay being caused by door coming back and slamming in faoe. The rug-method is Miss Whybark or Mr. Long. ture. used in making this exit. If the nation's tobacco bill for tha fiscal year ending June 30, 1920, wera placed In a single column of stiver dollars and an automobile started uf that column at the rate of 50 miles per hour, how long would it take lt to reach tbe top? The Secretary of the Treasury In calling public attention to certain leaks ln the family pocketbook figures our tobacco bill for last year at %‘lf 110,000,000. Counting ten dollars to an Inch, when would thut Ford reach tbe summit If lt started at 8:00 o’clock this morning? Thirty students gathered about tba same table at the cafeteria yesterday and, besides figuring on the abova problem, planned to encourage the selection of some student to represeut U. S. C. at an Intercollegiate oratorical contest at Whittier, Calif., January 14, 1920. The purpose of this Contest Is to encourage college students in making a study of the effects of tbe tobacco habit and the tobacco traffic upon tha Individual and upon society. $25.00 In cash will be awarded the winner ln the contest. Two or three students have already expressed a desire to enter their names. A local try-out will ba held to determine the one who is the best qualified to represeut the l)uiverslty. Each speaker will be limited to ten minutes, and Is permitted to choose his own subject which may deal with any phase of the tobacco problem. ALCHEMI8T SOCIETY Tbe regular luouthly busluess meeting of the Alchemist Society will be held-today at IS:60 In the Cham. Lecture Room.
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Title | The Southern California Trojan, Vol. 12, No. 37, December 03, 1920 |
Format (imt) | image/tiff |
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alifornia
Vol. XII
Log Angelei, California, Friday, December 3, 1920
No. 37
PI BETA PHI BAZAR OPENS THIS AFTERNOON
PI Beta Phi sorority, making final arrangements for their Christmas b||nar to bo held at their house, 748 We9t Twenty-eighth street, from 2 o'clock this afternoon till 12, ciflfelly urges all U. S. C. faculty and slWfents to attend.
Dancing all evening, a program, concessions, shooting galleries, and attractive booths, are a few of the fea-ture8 of the affair which the sorority ti staging to raise revenue for the permanent house fund, which is already established. The girls state that a peek in will be of advantage to Christmas shoppers.
The booths, which promise an elaborate display, will Jae divided into classes and the following girls will be In charge:
Meldon Schew will guard the candy and haberdashery, while “Art" will be left to the discretion of Florence Mullen. Fancy work will be ln the charge of Ella Mosely and Lucile Long will hold forth at the baby booth. NOT they will only sell things for babies. The parcel pose end of the work Is to be handled by Marjorie Sparey, while a booth called the “White Elephant,” whatever that is, Mrs. Piersall promises1 to clear up this afternoon.
Eats will be kept track of by Hilda Blatz.
General supervision is under Mar-gurite Giffen, and she says that a great deal of hard work has been done to make the bazaar a success. She promises a few surprises, and says that a big auction will be held at the close of the evening and every article will go to the highest bidder.
MMAIVICA
“Exquisite!”
“Oh! how lovely.”
“I spoke up for that!" were some of the exclamations which oozed forth from the Y. W. C. A. Inner office yesterday noon. Real mandarin pillow tops with dragons imbroidered in gold, filmy cream Chinese laces, dainty insertions, oriental beads fairly dazzled the eyes of a roomful of enraptured girls.
“Such ideal Christmas gifts,” suggested one voice.
“And very reasonable prices,” added another. “Where did they come from?”
“They were sent from China,” explained Miss Biles, dean of women, who was as enthusiastic as any of the students. Miss Biles introduced Margaret Trundle, a student of U. S. C., who is selling the novelties. Miss Trundle's parents are missionaries in China, where Miss Trundle herself ?as born.
One strand of beads, which Miss Trundle showed, which had mysterious figures interwoven ln dark colors, proved to be a sort of charm strand, each little curved insignia, having specific interpretation, as, for instance, BMd luck, long life, happiness, love, etc. These, as well as all the other “cey things, were much ln demand. There are a few of the Chinese daln-“es a' the Y. W. C. A. office and Miss Trundle has stated that lt would be ■^Possible to obtain more before thristmas, so she advises anybody w“0 is interested to see the display w soon as possible.
Successful Basketball Season Predicted For U.S.C.
Football has been stowed away on the shelf for another season, the moleskins and the rest of the paraphernalia are now reposing In storage awaiting another year. With the close of the present wonderfully successful season, the eyes of the sport loving youths are now turning toward the noble art of chasing the rotund casaba. Basketball Is coming Into its own.
Frosh Material 8trong
With the complete team of last season back in the field, plus two or three acquisitions in the persons of Long-lawn Boyle, Ellis Eagan, Paul V. Oreene and Babe Calland, the team will be in a fit condition to take on all comers all the time.
Competition 8trong
With the Butterfields and Captain Hinrichs, with Boeck and Grant Kuhns, with Fred Axe, Toolen, isenhouer and Charlie Graham all raring to go, the competition for positions ought to develop a pretty flght.
Where there are a goodly number of men battllng'Tor a job ln any branch
of sports, that sport can usually be depended upon to bring about results that end up in a swift, fighting com bination.
Basketball Promises Well
This season basketball has great promise, and the school should come through with a little more interest than they have ln previous seasons. As yet no schedule has been announced, but it is rumored that both California and Stanford will be seen in action on the southern courts this year, and that the team is scheduled for a short trip in a northerly direction, ln the form of an Incentive or the like ffor the year. All of which means well.
Needs a Push
Basketball needs a little push behind it that will send lt off in a blaze of determination this season. With the teams that U. S. C. will play and the amount of material Coach Henderson will have to work with, there Is no reason why the season cannot be made a marked success for Old Trojan.
mis of mme
“Banks of today function between the excess products, cash, or other available commoditties on one hand and commuaities or industries that need another surplus on the other hand,” said Henry Robinson, president of the First National Bank and the Los Angeles Trust and Savings Bank, at the College of Commerce assembly in the chapel at 11:40 yesterday.
In general, Mr. RoblnBon dwelt on the evolution of the banking system. He explained how forty years ago, banks solicited the funds from individuals to supply the requirements of growing industries; the bank was essentially connected with the management of the concern to whom it loaned large sums of money.
‘When the Federal Reserve system was adopted,” said Robinson, “the ■whole banking system was completely changed. The country was divided into twelve districts, according to the general production and movement of commodities. Herein lies the significance. The Federal Reserve system created a common reserve upon which all its banks could draw.
This action also released hundreds of millions of dollars. Under private control each bank kept a reserve enough to carry them over a slight do pression; some of the bankB were ultra-conservative and, therefore, with the combining of all the reserves this surplus was available.
"During the war the reserve system was called upon to help float the liberty loans. In this stress its elasticity was proven.
“Another instance of prime importance is the Inclusion of acceptancies as a basis upon which credit may be leaned to enterprising industries.
“On the whole, bankers throughout the United States concur in the belief that the Federal Reserve system is ex tremely beneficial. Of course, there are certain individuals of the old bank-i lg school who object, when only after the rising generation of unprejudiced tankers get complete control of our country's finances will the true worth and elasticity of the new system be proven."
PARMECIA GET WILD
IN ZOO LABORATORY
By Cholla "What’s them grapenuts for?” asked the scared frosh of Miss Beers in Zoo Lab., looking at a nearly full pack age sitting on the desk.
“We feed them to the Parniecia,” was the reply.
____ “Ah, now I know why so many of
Thirty-seven pre-medical students my cover glasses are broken," said the ®»t in room 14 at 11 -40 yesterday to frosh. “the rejuvenated Barmecia eats
organize u Pre-Medlcal Club. Only if ■----------i—
en women were present, the others ■ere men.
trar 0, |
Filename | uschist-dt-1920-12-03~001.tif;uschist-dt-1920-12-03~001.tif |
Archival file | uaic_Volume10/uschist-dt-1920-12-03~001.tif |