2 MARCH 1929

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After all, a great deal is gained by the acceptance

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of the invitation. The principal employers' organizations —the - National - Confederationof Employer? Organizations and the Federation • of tiritiih : inchistries:--have neve/...

We haire referred elsewhere to the alleged Franco-- Belgian Secret

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Treaty, the latest abortion of that modern Minerva, propaganda. What was to fie-gained by flying this kite just now remains obscure.: It' may be that some Power is interested in...

The Committee on Education for Salesmanship, he went on to

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say, had received many interesting answers to their inquiries, and several that - were disquieting. In too many cases British representatives abroad did not speak or write the...

At a luncheon of the British Export Society on Tuesday

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Mr. F.' W. Goodenough (who is Chairman Of 'the Govern. menu` Committee On &ideation for Salesmanship as well as President of the Export Society) spoke on some principles of...

News of the Week

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T HE decision of the General Council of the Trades Union Congress on Tuesday to accept the invita- tion of the employers' organizations to meet them in a conference may be a...

EDITORIAL AND POBLI8I3LNG OFFICES : 13 York Street, Covent Garden,-Condon,

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W.C. 2..A Subscription to the SrecrreTos taste Thirty Shillings per annum, including postage, to any part .of the world. The SPECTATOR is registered as a Newspaper. The Postage...

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A Reuter's telegram reports the settlethent of the notorious Tacna-Arica

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'dispute by direct negotiations between the Governments of Peru and Chile. The decisive factor in cutting the Gordian knot seems to have been the subtle proposal made some...

When .we write Herr Stresemann is about to leave Berlin

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for Geneva, and he has made desperate efforts to compose the long-standing political disputes within the German Government before he goes, for naturally it is desirable that...

Civil war threatens in Afghanistan with the melting of the

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snows, and no one will question the wisdom of the British Government'i decision to withdraw our official representatives. On Monday Sir Francis Humphrys and his staff arrived in...

* * * .

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The storm that has blown up between France and Spain concerns the compensation claimed by French firms which have suffered by the Spanish Oil Monopoly: When the claims of the...

* * * * Public attention is still focussed on

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the Spanish stale- mate. King Alfonso, despite the many rumours, is not at all likely to. drop the pilot," for the very good reason that he himself had sinned against the...

* * The Centre refused Point-blaiik to agree to the

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claim of the GerMan People'S Party to two MiniStries in the Prussian Diet. Moreover, the Centre itself wanted three Ministries in the Reich instead of the one with which it had...

As had been expected. General Hertzog's Native Representation Bill achieved

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only a bare- majority at the ' joint sitting of the two Houses of Parliament. It is consequently dead. The Prime Minister has given notice that the related Coloured Persons Bill...

* * * * The decrees authorizing members of the

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Patriotic Union and loyal Spanish citizens to indulge in espionage and tale-bearing are, on the face of them, absurd. Poli- tical chatter in the cafés is second nature to the...

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On Monday the Civil Estimates, the Estimates for the Revenue

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Departments and the Army Estimates were issued. The Navy and Air Estimates are not yet complete. The total amount of the Civil and Revenue Department Estimates in last year's...

* * * Last Saturday, at Bolton, Mr. Ramsay MacDonald

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said that no one " outside Bedlam or the Headquarters of the Conservative Association " ever entertained the idea (attributed to the Labour Party by Mr. Baldwin) that under...

* * * * The very large and impressive new

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building, Imperial Chemical House, which overlooks the river at Millbank, is a notable addition to London architecture. Sir Frank Baines, the architect, has been the first, we...

Some interesting developments of the Homecroft movement were projected by

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Professor Scott, in his address at the Caxton Hall on Thursday, February 21st. The issue at the moment is to utilize the spare part of the Homecroft Association's land,...

An unpremeditated rift appeared in the Labour Party in the

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House of Commons on Tuesday when the Unemployed Insurance Acts were discussed in their relation to Northern Ireland, Mr. A. M. Samuel proposed a financial resolution on which...

* * *

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This speech gave Mr. Churchill exactly the material he needed for o n his supremacy in debate, and he swooped on to it greedily. Mr. Snowden had displayed " archaic malignity "...

Bank Rate, 51 per cent., changed from 41 per cent.,

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on February 7th, 1929. War Loan (5 per cent.) was on Wednesday 101 i t ; on Wednesday week 1011 ; a year ago, 10111. Fund- ing Loan (4 per cent.) was on Wednesday 881 ; on...

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Political Salesmanship

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'UTE have heard a great deal lately .about salesman- " ship ; but the Government, who appointed an excellent Committee on the subject, do not seem to have reflected that what is...

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The Alleged Secret Treaty

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To people with short memories the world mast be an exciting place. To them an old danger, a scandal . of the day before yesterday, can be presented again and again with...

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In Defence of the Faith

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The Elements of Religion W HEN in a famous sentence Kant declared that - two things fill the mind of man with ever- increasing awe, the starry heavens above and the moral law...

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The Week in Parliament rimus has been a week of

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alaruins and excursions " off." In announcing the Government's surrender to the demands of the Irish loyalists and their protagonists in Parliament, the Prime Minister made it...

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First Editions

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A S there are two methods of dealing with money, so are there two kinds of libraries, the one for itse.. and the other to hoard: How well we all ..know the calm delight of...

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Anglo-American Relations

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[The writer of thiS article has just returned froth the United States. We think he is unduly pessimistic and we print his article, not because we agree with it, but because it...

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Is Nature Cruel ?

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W E are not easily startled nowadays. But I think that the legal judgment advanced in the recent Grove-Gnidy Appeal Suit, in which a sum 'of £200,000 bequeathed to make a...

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In Frozen Holland

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I T was exciting to be told on the night Boat-train that the Hook steamer ' Archangel ' was frozen up somewhere beyond the Zuider Zee and that a sub- stitute had to be found....

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The Theatre

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[" Tun Itumoua." BY C. K. MUNRO. AT TEE CotiraT Tnexrax. " By ADDRY .rulp 1+KIVENEY CARTZN. AT TEE ST. JAMES' TIMATRE.] ONE'S first thought or duty is to welcome the revival of...

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Correspondence

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A LETTER FROH NEW ORLEANS. [To the Editor Of the SeEcr.vronj [To the Editor Of the SeEcr.vronj Sin,-- The winter's tourist finds himself somewhat disap- pointed when he...

The Cinema

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L.: WHITE SHADOWS IN THE SOUTH SEAS. - --AT THE REG AL.] White : Shadows was taken in the Marquesas Islarubi in the South Seas. In this beautiful and romantic setting of lagoons...

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The League of Nations

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The Position of the Vatican State ALmosr, all that could be said has already been written about the effect upon religion and politics in Italy itself of the recon- ciliation so...

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Letters to the Editor

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IN DEFENCE OF THE FAITH [To the Editor of the SPECTATOR.] • Sni,—The contribution of the Archbishop of York to your . series, " In Defence of the Faith " will bring reassurance...

WHY NOT OPERATE THE SAMUEL REPORT?

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. [To the Editor of the SPECTATOR.] SIR, —Your correspondent, " F. asks the above question, but be does not state which specific recommendations of the Report, other than those,...

DEVELOPMENT IN HOMECROFTING

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[To the Editor of the SPECTATOR] SIR, —I would like to thank the Hungarian ex-Food Minister warmly, on behalf of all who are supporting Homecrofting in its new developments,...

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GOALS AND TRIES [To the Editor of the SPECTATOR.] was

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very glad to 'read in y o ur issue of February 16 the letter of " 0. F." on the above subject. Three innovations have altered for the worse the character of this noble game....

HUMANE CASTING FOR JEWISH SLAUGHTER [To the Editor of the

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SPECTATOR.] Sia,—Your correspondent, Mr. Emanuel:(Spectotor, February 23rd) cannot classify me as a fanatical follower of the Humane Killer, as I am still using the pole-axe....

SLUM CLEARANCE [To the Editor of the SPECTATOR.]

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SIR,—The wonderful response made by your readers to your appeal for the miners only shows what can be done when men of good will co-operate. There must be many thousands of...

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THE " SOCIALIST -ADVANCE

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[To the Editor of the Seeclwroa.] Ste,—" Watchman," ever vigilant; informs us that " recent by-election results indicate that the general Socialist advance Las been checked." At...

SOCIALIZING AGRICULTURE

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[To the Editor of the SPECTATOR.] Ste,—Your Moscow correspondent (issue of January 12th), in discussing " the socialization of agriculture," declares, 'looking backward, " that...

THE CATHOLIC CHURCH

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[To the Editor of the Spiec-rvroa.] Sut,—In the " News of the Week " of your last issue, who- ever wrote the note on the Vatican solution seems to think that the term "...

-ENGLISH UNDEFILED -

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- [To the Editor of the SPECTATOR.] wonder whether your correspondent (Spectator, February 28rd) has ever asked himself why the usus loquendi is gradually introducing the...

WASTED LIVES

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[To the Editor of SPECTATOR.] Sri,—The Home Secretary recently announced in a speech at Twickenham that he was hoping to bring an amendment to the Children's Act, raising the...

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[To the Editor of the SPECTATOR.] .

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SIR,-With reference to the query raised by M. G. VD. T. in thq Spectator of February 23rd re Bird's Drinking Water, - I have' several times come across references to the...

CENTENARY EDITION OF THE LETTERS- OF SIR WALTER SCOTT [To

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the Editor of the SPECTATOR.] Snt,—There is now in preparation, for publication in 1932, an edition of the letters of Sir Walter V Scott—published and unpublished—of which...

_ [To the .Editor of the SPECTATOR.] •

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Sia;—In answer to your correspondent of February 23rd, if a tablespoon of pure' glycerine be added to . one pint of water there is little fear of the water freezing until a...

THE FREEDOM OF THE • SEAS

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[To the Editor of the SPECTATOR.] Sta,—The majority of your readers must have welcomed your very able article on the Freedom of the Seas, in your issue of the 28rd. When the...

BIRDS' DRINKING WATER

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[To the Editor of the SPECTATOR.] SIR, —With reference to the inquiry of your correspondent M. G. D. T. in the Spectator of February 28rd, the following experiment which I made...

THE PAYMENT OF GOLF CADDIES

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[To the Editor of the SPECTATOR.] Siu,—Can nothing be done to put the payment of golf caddies on a more satisfactory basis ? During long spells of bad weather such as we are...

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A Hundred Years Ago

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An author, whose writings are applicable to all times and occa- sions, has observed of. our nation, that " . . . though it be exempt from real evils, think not that it is more...

OUR ABERDARE FUND

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During the past week the following donations have reached us, which are gratefully acknowledged below. Our aim has now been achieved, having provided for the immediate needs of...

DAVID LIVINGSTONE RELICS

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[To the Editor of the SPECTATOR.] SIR,-The Committee of the Scottish National Memorial to David Livingstone have pleasure in intimating that the work of transforming the house...

Poetry Music Recalled

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Now that the music is silent And sunk in the stream of years, I find, in the murmur of viols, A beauty and burden of tears, A joy remembered in sorrow, A passion of youth fallen...

POINTS FROM LETTERS

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REGIMENTAL RIGHTS. With reference to " Questions on the British Army," in your issue of 23rd ult. : " No. 3. What regiment is entitled to march through the City of London with...

Sir William Beach Thomas is away, and the Notes on

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" Country Life will not appear again until the issue dated March 13t1a.

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We welcome the first number of The Colonist, a sixpenny

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monthly magazine edited and produced by consumptives at that wonderful place Papworth, of which we have several times written in the Spectator. Some of the matter is, of...

Lord Ronaldshay tells us in a preface that Mr. David

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Macdonald, the author of The Land of the Lama (SeeleY, Serviee, 21s.) saved the Dalai Lama's life in 1909 and that during his sixteen years as British Trade Agent at G3iantie...

Those who love fine printing will delight in Mr. A.

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F. Johnson's charming selection of One Hundred Title-Pages, 1500-1800 (Lane, 15s.), arranged according to countries, With an introduction. Germany comes first, notable for the...

* * * *

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In Some Modern Sculptors . (Oxford University Press, 7s. 6d.) Mr. Stanley Casson treats a dozen artists with an admirable discrimination. He is a shrewd critic as well as...

In Archbishop Davidson and the English Church, Mr. Sidney Dark

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has put together a book that is chiefly valuable for the numerous quotations from the Primate's utterances. Mr. Dark is aware that he is presenting the public with the picture...

* * * * The leitmotif of The Re-Birth of

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Poland, by Dr. W. K. Korostowetz (Geoffrey Bles, 10s. 6d.) is Aesop's fable of the frog and the ox, a cautionary tale that might be told of many another State of the new Europe....

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The COmpetition

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Tire Editor offers a prize of five guineas for the most interesting postcard answering the question, " What is the first thing you remember ? " Illegible entries will be...

-Some Books 61 the Week

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DURING the past month the books most in demand at The Times Book Club have been :— NON-FICTION : Pages from the Diary of Lord D'Abenum, Anibassador - of Peaie, 'Vol. I ; Sir...

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FINANCIAL SUPPLEMENT

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BANKING AND INSURANCE No. 5.253.] WEEK ENDING SATURDAY, MARCH 2, 1929. IG RATIs

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The Banking Outlook Its International Aspects Is a subsequent article

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in the present Supplement to the Spectator recent developments in the banking position are fully dealt with and figures are given from the most recent reports showing a general...

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Banking in 1928—Financial Activity — Rise in Deposits—Loans Expand IN examining the

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banking figures as set out in the annual • balance sheets, not merely for last year, but over the years which have followed since the War, there is one central thought which it...

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The Investor and Bank Shares

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- Wrrn the exception of the Midland Bank, where an increase in capital played a part, and fn Martins, where the figures were affected by the. absorption . of the Lancashire and...

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Safeguarding Income

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[CONTRIBUTED.] ONE is often asked—what is the best form of personal LIMIT YOUR LIABILITY. _ family with the least possible sacrifice to himself. death. A further stipulation...

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Ten Years of Building Society Progress THE chances and changes

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of post-war years have not yet been fully recorded. It is certain, however, that one of the most interesting of the important and economic trans- formations of recent years will...

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House Purchase Policies

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TfIE two best investments one can make are the effecting of a life endowment assurance and the purchase of the one occupies. A combination of the two would - be ideal. Such a...

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Rulers in Russia

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TuOSE who delighted in the correspondence of Catherine " the Great " with Sir Charles Hanbury-Williams, which Lord Ilehester published last year will be eager to read his new...

A Guide-Book

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to the Gospels IN this little book, Bishop Gore has performed with brilliant success a task of which the difficulty is in inverse ratio to the size of the finished product. He...

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An Heroic Malcontent

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Emily Hobhouse : A Memoir compiled by Ruth Fry. (Jonathan Cape 10s. ed.) No less a person than General Smuts said of Emily Hobhouse: " The future of South Africa, the whole...

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The Last Months of 1914

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The Memoirs of Raymond Poincare. Translated by Sir George Arthur. (Heinemann. 21s.). SIR GEORGE ARTHUR, an excellent translator and editor, succeeded, by judicious adaptation,...

Dagger and Guillotine

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Charlotte Corday, and Certain Men of the Revolutionary Torment. By Marie Cher. (Appleton. 10s. 6d.) THESE two books have sad stories to tell ; each of them describes the same...

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First-Hand History

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Three Persons. By Sir Andrew Macphail. (John Murray. 10s. 6d.) • Sat ANDREW MACPHAIL set out to perform an interesting and valuable task when he began to write this book. He...

Fiction

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Heroines, Simple and Subtle Farthing Hall. By Hugh Walpole and J. B. Priestley. (Macmillan. 7s. 6d.) THOSE who delight in Miss Warner's insinuating discoveries of dusky...

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• * * * *

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The twenty-fourplates in colour are a special feature of The Dutch School. of Painting (The Medici Society, 10s: 6d.), reproducing , many. of the test-known , mattespieees;...

The Eugenics Review, the quaiterly of the ugetlics Society (Macmillan,-

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38.) is a -Magazine which deServes the attention of - - all who are: interested.. in _social larogress: Questions such as birth control, the differential _birth. rate, and the...

More Books of the Week ).

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(Continued from page 318.) The March number of the Pall Mall is very good' value for a shilling . It contains a new Wodehouse serial, complete with pig-breeding peer, stem...

General Knowledge Questions

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OUR weekly prize of one guinea for the best thirteen Questions submitted is awarded this week to Mrs. Gillespie, The Rectory, Clonlara; Litifelick, for the - lcilloiving - - -...

A Library List

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REFERENCE BOOKS :-Crockford's Clerical Directory, 1929; . (Oxford University* Press. 42s.) African Manual on Mining, Industry and Agriculture: (Mining and Industrial...

Page 51

Finance—Public and Private

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English Railway Results ALTHOUGH the dividend declarations by English Railway companies have, for the most part, proved equal to expec- tations, the effect upon market values...

• ABBEY ROAD BUILDING.

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In the Financial Supplement there will be found a very interesting article dealing with ten years of progress in the activities of Building Societies. During the past week there...

Financial Notes

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MONETARY INFLUENCES. THE Stock Markets are trying bravely to resist monetary influences, but it is not surprising that business is beginning to drag. On several occasions I...

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CLERICAL tItmc,st,

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The:clerical and Medical and General Life Assurance So e i e t =now owned' by the _Employers' Liability insithince Corp s ation—pursues the course of publishing its Report at t...

* * a * ROLLS ROYCE. _

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It is always satisfactory to record any tendency to resist foreign control over important British industries, and I am glad, therefore, to note that at the recent annual meeting...

* * * a UNITED KINGDOM PROVIDENT.

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The Annual Report of the United Kingdom Provid • Institution shows that the new business last year was t (Continued on page viii.) largest yet achieved ; not only so, but in...

W. H. Swan AND Sox.

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Among impending issues of capital, or rather, perhaps, it should be said among .those which may possibly be made sometime during the coming month, there is the proposed issue of...

• * * * QUINQUENNLIL VALUATION.

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• The quinquennial valuation was made on the basis of interest at 21 per cent. net as against 3 per cent. net previously - assumed, and the reduction to 2 per cent. has resulted...

SELFRIDGE PROFITS.

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In noting the figures of the profits of Selfridge & Co. for the past year, it has to be remembered that they now have to bear a charge of £46,105 in respect of guarantee to...

Seorrisn WIDOWS' RESULTS.

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. The Report of the past year of the Scottish Widows' Fund and Life Assurance Society shows that the net new sums assured for last year amounted to £3,173,220, the net new busi-...

HARRODS' PROSPERITY.

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The prosperity of Harrods grows steadily and the Repo recently issued confirms the good impreSsion which had produced by the fact that on an increased capital the direct, had...

PEARL ASSURANCE.

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Satisfactory progress is indicated in the latest Report of the Pearl Assurance Co. The Industrial branch business is now valued on a 21 per cent. basis, and including 186,296...