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Daily Iowan, July 22, 1919
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The Daily Iowan The Student Newspaper of the State University of Iowa VOL. XVIII - NEW SERIES VOL. III IOWA CITY, IOWA, TUESDAY, JULY 22, 1919 NUMBER 130 CHARTER GRANTED LOCAL INVESTMENT AND LOAN COMPANY - Purpose is to Stimulate Thrift and Encourage Ownership of Homes - PROF. WHITNEY CHAIRMAN - Two Classes of Members, Investing and Borrowing - Sixty Organizations in State - Application for a charter for a local loan and investment company has been favorably acted upon, according to a notification received from Governor W.L. Harding yesterday. University faculty members and Iowa City business men, with Prof. N. R. Whitney of the economics department as chairman, have been working on the organization of this movement for months. The Iowa City loan and investment company has two main purposes: first to stimulate thrift in the community by providing a place wherein people will make stated monthly savings on which they will be able to obtain a higher rate of return than is normally obtained from savings banks; second to encourage and make possible to the people of the community the ownership of homes. According to Professor Whitney, communities where such associations are established testify unanimously that these associations have exerted a tremendous influence toward thrift, ambition, and contentment among the people. Helps Home Builders Membership in this corporation will consist of two classes, investing members, and borrowing members. The investing members will pay in one dollar per month on each share of $100 that they take out. The shares are matured and paid off by the association in cash when the amount paid in on each share, plus the profits, distributed every six months and credited to the account of the shares, bring their value up to $100. Borrowing members come into the association when they want to buy or build a home. The borrower takes out a share for every $100 that he borrows. In addition to the fifty cents per month which he pays on the principal of his shares the borrower pays seven per cent interest which is divided into twelve monthly payments. Is Non-Competitive According to Professor Whitney, the investing shares should mature in seventy-five to eighty months, while the borrowing shares will mature in about twelve years. There are more than sixty organizations of this nature in the state. The largest is in Cedar Rapids with assets amounting to two million dollars and a yearly dividend of seven per cent. It is not the purpose of the organization to compete with the banking business but rather to supplement it by handling the sort of business that the banks do not handle. - BE PRESENT THE LAST DAY All students who are absent the last day of the term will receive no credit unless they petition the faculty, according to information given out yesterday from the office of Dr. C.H. Weller, director of the summer session. The first term closes Saturday at 6 o'clock in the afternoon. LIEUT, BATES HERE ON FIFTEEN DAY LEAVE Lieut. Ward Bates ishere visiting with his sister Mrs. N.G. Alcock on a fifteen day leave before going to Camp Dodge for an honorable discharge. He was a student at the University before entering the service and a member of the Sigma Chi fraternity. Lieut. Bates served in the second corps, Artillery Park, transporting armament to the front. He saw service at St. Mihiel, Chateau Thierry, Oise, Aisne, and Meuse Argonne. One of the most cherished relics he brought back with him is a German police dog, which has a black scar on its back from a wound received in battle. - SOLDIERS TO DISCUSS WAR RISK INSURANCE - Discharged Men Will Be Instructed on Points in Connection With Policies - Discharged army men of Johnson county will meet with those of the University at the public lecture and discussion on "What to Do with War Risk Insurance?" to be held Thursday evenings at 8 o'clock in the natural science auditorium. Edward H. Griffin, appointed representative of the war risk insurance bureau, will speak, Estimates show that 70 per cent of the discharged soldiers have ceased payment on their war risk insurance policies, and it is to counteract this tendency that the meeting is to be held at the University. Mr. Griffin will explain to the men why the insurance is beneficial and warn them to become reinstated before the nine months' time limit has expired. "Insurance companies the country over are backing the government bureau although it is in competition to their own work," declares Mr. Griffin. "The companies know that the government provision is an excellent one and are warm in its praise. The chief difference between a government policy and a regular insurance company policy is that the insurance is not paid in full at death but it is given to the beneficiary in 240 monthly installments, amounting on the most common policy of $10,000 to $57.50 a month." Mr Griffin states that many persons all over the country who are ready to give advice are urging discharged soldiers to drop the government insurance., These persons are ill-informed on the measure. It is to clear up all details of the provision and its working that the meeting is to be held. The disability clause in the measure will also be discussed. - ALPHA DELTS TO GIVE KENSINGTON TOMORROW Alpha Delta Pi will hold a Kensington at their chapter house Wednesday afternoon. The affair will be given by the Alpha Delts now in school and the alumnae living in Iowa City. The guests will be Iowa City girls who expect to enter the University this fall. The alumnae to be present are: Tacie Knease, Josephine Berrien, Lucille Franchere, Lillian Filean, Huldah Robertson, Henrietta Rate, Mary Lee, Mrs. W.A. Jessup, and Mrs. Leslie Schenck. - Eleanor Lee, Pi Beta Phi, has left with her mother for a vacation trip in Estes Park. FIFTY-ONE DEGREES WILL BE GRANTED SUMMER STUDENTS - Dr. George Stewart of Faculty to Address Convocation on Campus - ELEVEN MASTERS' DEGREES - Number of Degrees Double That of Last Summer Session - One Doctor's Degree - Fifty-one candidates are expected to appear for degrees at the first summer convocation, to be held on Friday, July 25th, at 2:30 o'clock. Of this number, eleven will come up for master's degrees, and one, Miss Rachel Knight, will be a candidate for the degree of doctor of Philosophy. There will be eight candidates for the certificates in education. Dr. George W. Stewart, head of the department of physics, and well known for his achievements in connection with scientific war work, will deliver the convocation address, taking as his subject, "Achievements." The program will begin with the singing of "Old Gold", and will include special music by Bertha Anne Cooper and the assembly choir, who will sing "How Excellent Thy Name," by Lester. Dr. D.W. Wilie will be chaplain for the day. The singing of America will conclude the program. The exercise will be conducted on the front campus, where the platform will be erected east of the two large class memorial stones. The procession will be formed in front of Old Capitol at 2:15, and will march around the south end of the campus, returning to the place of the exercises at 2:30. Another convocation will be held at the conclusion of the second term of the summer session, but fewer candidates for degrees are expected. The summer session of the University is now as large as the general session fifteen years ago. Most of the present candidates are from the schools of liberal arts and dentistry. Last year at this time only twenty-six degrees and ten certificates were conferred. Those appearing for the degrees of master of arts and the subjects in which they will take their degrees are as follows: Albert Lynn Boyer, Education, Political Science, Mirriam Blanche Cameron, English; Margaret Condit, Education, English; Catherine Agnes Himes, English; Silas W. Johnson, Education, Political Science; Orville Ray Latham, Education, History; Mary Juanita Reynolds, English; Iver Albert Opstad, Education, Psychology. Those appearing for the degree of master of science are: Joyce Homer Crowell, Chemistry, Mathematics; Harry Bryant Hart, Chemistry, Physics; Robert Lowe Howard, Chemistry; Margaret Caroline McGuire Physics, Chemistry. On the Monday following convocation, the University will open for its second summer session. - Professor B. Shimek of the department of botany will be the speaker at a union service of all the churches in McGregor next Sunday evening. NOTICE TO CHOIR Summer session choir will meet Tuesday at four o'clock, at the studio of Prof. W.E. Hays. HISTORICAL SOCIETY PRESENTED PORTRAIT A portrait of Mrs. Samuel J. Kirkwood, wife of the late Governor Kirkwood, was formally presented to the state historical society through its president, Euclid Sanders, late last week by Mrs. Virginia Couzens of New York City. The portrait was painted by Mrs. Couzens. Framed it measures 36x30 inches. It will be hung in the rooms of the historical society in the liberal arts building. Mrs. Kirkwood still lives at the old home in Iowa City, and although almost ninety eight years of age is still actively interested in public work. - MENTIONS REYNOLDS IN ARTICLE IN POST - Chief Censor in A.E.F. Writes of Efficient Work of Reynolds near St. Mihiel - Lieut. Conger Reynolds, professor of journalism at the University on leave of absence, is mentioned favorably in an article by Major Gerald Morgan of the field artillery, chief field censor of the A.E.F., in the current issue of the Saturday Evening Post. In moving from the vicinity of Chateau Thierry to St. Mihiel, Major Morgan states the work of censoring war articles was rendered much easier by the efficient work of Lieutenant Reynolds. "For the first time in its history," writes Major Morgan, "we were able to give the press division really complete facilities. Moreover, G.H.Q., taking advantage of the work of Lieut. Conger Reynolds, had arranged to place press liasion officers - all of whom had had previous newspaper experience - with each corps as well as with the First Army." Since his work as intelligence officer on the staff of General Pershing, which consisted of guiding war correspondents to the front and censoring articles, Lieutenant Reynolds has been discharged from the service and is managing editor of the Paris edition of The Chicago Tribune. University authorities expect Professor Reynolds' return to the department of journalism in the autumn, but they have not heard definitely as to his plans. - NEGRO SORORITY IS LOOKING FOR HOUSE Mrs. Helen Downey of Ottumwa, Mrs. Martha White of Indianola, and Mrs. S. Joe Brown of Des Moines arrived in the city yesterday to look for a suitable location for the Delta Sigma Thetas, Negro sorority, and other colored girls of the University. Two women from the city, Mrs. Helen Dameron Bashears and Helene Lucas were a committee for selecting a house, which is to be purchased by the Federation of Colored Women's clubs of the state. From the several houses selected, the officers of the state federation visiting here will choose the one they think best suited to the needs of the girls. An active campaign has ben carried on for funds all over the state. Last Thursday and Friday were tag days in many towns, and they resulted in the raising of considerable funds for the purchase of the house. The drive will be continued until August 20 by which time it is hoped that the entire amount will be raised. The location of the house will be decided in a few days. SPIRIT OF FROSH PREVAILS AT MEN'S ANNUAL BANQUET - Scintillating Song Hits by Quartette Spare No One But Please All - PRESIDENT GIVES TOAST - Seashore, Kay, Russell, Jones and Shambaugh Also Speak - Johnson Presides - Grace graduate students waxed froshlike and dignified deans hilarious at the second annual University men's dinner at the city park pavilion last night. Dull care was completely flored when a harmony quartette composed of H.L. Ballenger, H.H. Matt, M.F. Penrod, and H.M. Halverson sang nonsensical ditties to the one hundred and twenty-five present. One of the biffs sung to the tune of that old favorite "Polly Wolly Oodle" is as follows: YOung Dean Bull, mighty man is he, For he went away to Siberee, When he came back a czar was he For he'd had some of that Bowlo whiskey. Now Prexy had but little peace For he stayed home with the S.A.T.C. They called "halt" now and they called "halt" then, And halt some more and halt again. But the hero with the smiling face, Used to war and a pretty fast pace, To Professor Ensign the above was not new, For he was an old timer back in sixty-two. Brisco and Benny Hit Too Before Prexy, Dean Bill, and Ensign had time to recover, Brisco and Benny Shambaugh were being carolled to in this wise: O, when you come to Iowa U to find if you're alive, Just steer your feet to liberal arts and hunt room 205, Quite cautiously obtrude yourself into the atmosphere And ask to interview the chief, and this will strike your ear: I'm N.A. Brisco; known for my Japanese fame, And I would have you know, young man, that if you work under me, I guarantee that afterward I shall more famous be. But when you're through with commerce and you really want to work, Just clamber up to regions where the book worms darkly lurk; As you gaze upon the faces pale from lack of light an dair, Then up will speak the cause of all, a man so debonaire: I'm Benny Shambaugh, I'm the one that's to blame I'm Benny Shambaugh, have you not heard of my name? For when my dear old Iowa asks to know when she was born, I ups and puts some guy to work, that's why they look so worn. C.E. Seashore Batted Also Dean Seashore was given a friendly bat also in a tiny ballad which most fittingly concerned tuning forks. Here it is: Tuning forks, tuning forks, buzzing (Continued on page 4)
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The Daily Iowan The Student Newspaper of the State University of Iowa VOL. XVIII - NEW SERIES VOL. III IOWA CITY, IOWA, TUESDAY, JULY 22, 1919 NUMBER 130 CHARTER GRANTED LOCAL INVESTMENT AND LOAN COMPANY - Purpose is to Stimulate Thrift and Encourage Ownership of Homes - PROF. WHITNEY CHAIRMAN - Two Classes of Members, Investing and Borrowing - Sixty Organizations in State - Application for a charter for a local loan and investment company has been favorably acted upon, according to a notification received from Governor W.L. Harding yesterday. University faculty members and Iowa City business men, with Prof. N. R. Whitney of the economics department as chairman, have been working on the organization of this movement for months. The Iowa City loan and investment company has two main purposes: first to stimulate thrift in the community by providing a place wherein people will make stated monthly savings on which they will be able to obtain a higher rate of return than is normally obtained from savings banks; second to encourage and make possible to the people of the community the ownership of homes. According to Professor Whitney, communities where such associations are established testify unanimously that these associations have exerted a tremendous influence toward thrift, ambition, and contentment among the people. Helps Home Builders Membership in this corporation will consist of two classes, investing members, and borrowing members. The investing members will pay in one dollar per month on each share of $100 that they take out. The shares are matured and paid off by the association in cash when the amount paid in on each share, plus the profits, distributed every six months and credited to the account of the shares, bring their value up to $100. Borrowing members come into the association when they want to buy or build a home. The borrower takes out a share for every $100 that he borrows. In addition to the fifty cents per month which he pays on the principal of his shares the borrower pays seven per cent interest which is divided into twelve monthly payments. Is Non-Competitive According to Professor Whitney, the investing shares should mature in seventy-five to eighty months, while the borrowing shares will mature in about twelve years. There are more than sixty organizations of this nature in the state. The largest is in Cedar Rapids with assets amounting to two million dollars and a yearly dividend of seven per cent. It is not the purpose of the organization to compete with the banking business but rather to supplement it by handling the sort of business that the banks do not handle. - BE PRESENT THE LAST DAY All students who are absent the last day of the term will receive no credit unless they petition the faculty, according to information given out yesterday from the office of Dr. C.H. Weller, director of the summer session. The first term closes Saturday at 6 o'clock in the afternoon. LIEUT, BATES HERE ON FIFTEEN DAY LEAVE Lieut. Ward Bates ishere visiting with his sister Mrs. N.G. Alcock on a fifteen day leave before going to Camp Dodge for an honorable discharge. He was a student at the University before entering the service and a member of the Sigma Chi fraternity. Lieut. Bates served in the second corps, Artillery Park, transporting armament to the front. He saw service at St. Mihiel, Chateau Thierry, Oise, Aisne, and Meuse Argonne. One of the most cherished relics he brought back with him is a German police dog, which has a black scar on its back from a wound received in battle. - SOLDIERS TO DISCUSS WAR RISK INSURANCE - Discharged Men Will Be Instructed on Points in Connection With Policies - Discharged army men of Johnson county will meet with those of the University at the public lecture and discussion on "What to Do with War Risk Insurance?" to be held Thursday evenings at 8 o'clock in the natural science auditorium. Edward H. Griffin, appointed representative of the war risk insurance bureau, will speak, Estimates show that 70 per cent of the discharged soldiers have ceased payment on their war risk insurance policies, and it is to counteract this tendency that the meeting is to be held at the University. Mr. Griffin will explain to the men why the insurance is beneficial and warn them to become reinstated before the nine months' time limit has expired. "Insurance companies the country over are backing the government bureau although it is in competition to their own work," declares Mr. Griffin. "The companies know that the government provision is an excellent one and are warm in its praise. The chief difference between a government policy and a regular insurance company policy is that the insurance is not paid in full at death but it is given to the beneficiary in 240 monthly installments, amounting on the most common policy of $10,000 to $57.50 a month." Mr Griffin states that many persons all over the country who are ready to give advice are urging discharged soldiers to drop the government insurance., These persons are ill-informed on the measure. It is to clear up all details of the provision and its working that the meeting is to be held. The disability clause in the measure will also be discussed. - ALPHA DELTS TO GIVE KENSINGTON TOMORROW Alpha Delta Pi will hold a Kensington at their chapter house Wednesday afternoon. The affair will be given by the Alpha Delts now in school and the alumnae living in Iowa City. The guests will be Iowa City girls who expect to enter the University this fall. The alumnae to be present are: Tacie Knease, Josephine Berrien, Lucille Franchere, Lillian Filean, Huldah Robertson, Henrietta Rate, Mary Lee, Mrs. W.A. Jessup, and Mrs. Leslie Schenck. - Eleanor Lee, Pi Beta Phi, has left with her mother for a vacation trip in Estes Park. FIFTY-ONE DEGREES WILL BE GRANTED SUMMER STUDENTS - Dr. George Stewart of Faculty to Address Convocation on Campus - ELEVEN MASTERS' DEGREES - Number of Degrees Double That of Last Summer Session - One Doctor's Degree - Fifty-one candidates are expected to appear for degrees at the first summer convocation, to be held on Friday, July 25th, at 2:30 o'clock. Of this number, eleven will come up for master's degrees, and one, Miss Rachel Knight, will be a candidate for the degree of doctor of Philosophy. There will be eight candidates for the certificates in education. Dr. George W. Stewart, head of the department of physics, and well known for his achievements in connection with scientific war work, will deliver the convocation address, taking as his subject, "Achievements." The program will begin with the singing of "Old Gold", and will include special music by Bertha Anne Cooper and the assembly choir, who will sing "How Excellent Thy Name," by Lester. Dr. D.W. Wilie will be chaplain for the day. The singing of America will conclude the program. The exercise will be conducted on the front campus, where the platform will be erected east of the two large class memorial stones. The procession will be formed in front of Old Capitol at 2:15, and will march around the south end of the campus, returning to the place of the exercises at 2:30. Another convocation will be held at the conclusion of the second term of the summer session, but fewer candidates for degrees are expected. The summer session of the University is now as large as the general session fifteen years ago. Most of the present candidates are from the schools of liberal arts and dentistry. Last year at this time only twenty-six degrees and ten certificates were conferred. Those appearing for the degrees of master of arts and the subjects in which they will take their degrees are as follows: Albert Lynn Boyer, Education, Political Science, Mirriam Blanche Cameron, English; Margaret Condit, Education, English; Catherine Agnes Himes, English; Silas W. Johnson, Education, Political Science; Orville Ray Latham, Education, History; Mary Juanita Reynolds, English; Iver Albert Opstad, Education, Psychology. Those appearing for the degree of master of science are: Joyce Homer Crowell, Chemistry, Mathematics; Harry Bryant Hart, Chemistry, Physics; Robert Lowe Howard, Chemistry; Margaret Caroline McGuire Physics, Chemistry. On the Monday following convocation, the University will open for its second summer session. - Professor B. Shimek of the department of botany will be the speaker at a union service of all the churches in McGregor next Sunday evening. NOTICE TO CHOIR Summer session choir will meet Tuesday at four o'clock, at the studio of Prof. W.E. Hays. HISTORICAL SOCIETY PRESENTED PORTRAIT A portrait of Mrs. Samuel J. Kirkwood, wife of the late Governor Kirkwood, was formally presented to the state historical society through its president, Euclid Sanders, late last week by Mrs. Virginia Couzens of New York City. The portrait was painted by Mrs. Couzens. Framed it measures 36x30 inches. It will be hung in the rooms of the historical society in the liberal arts building. Mrs. Kirkwood still lives at the old home in Iowa City, and although almost ninety eight years of age is still actively interested in public work. - MENTIONS REYNOLDS IN ARTICLE IN POST - Chief Censor in A.E.F. Writes of Efficient Work of Reynolds near St. Mihiel - Lieut. Conger Reynolds, professor of journalism at the University on leave of absence, is mentioned favorably in an article by Major Gerald Morgan of the field artillery, chief field censor of the A.E.F., in the current issue of the Saturday Evening Post. In moving from the vicinity of Chateau Thierry to St. Mihiel, Major Morgan states the work of censoring war articles was rendered much easier by the efficient work of Lieutenant Reynolds. "For the first time in its history," writes Major Morgan, "we were able to give the press division really complete facilities. Moreover, G.H.Q., taking advantage of the work of Lieut. Conger Reynolds, had arranged to place press liasion officers - all of whom had had previous newspaper experience - with each corps as well as with the First Army." Since his work as intelligence officer on the staff of General Pershing, which consisted of guiding war correspondents to the front and censoring articles, Lieutenant Reynolds has been discharged from the service and is managing editor of the Paris edition of The Chicago Tribune. University authorities expect Professor Reynolds' return to the department of journalism in the autumn, but they have not heard definitely as to his plans. - NEGRO SORORITY IS LOOKING FOR HOUSE Mrs. Helen Downey of Ottumwa, Mrs. Martha White of Indianola, and Mrs. S. Joe Brown of Des Moines arrived in the city yesterday to look for a suitable location for the Delta Sigma Thetas, Negro sorority, and other colored girls of the University. Two women from the city, Mrs. Helen Dameron Bashears and Helene Lucas were a committee for selecting a house, which is to be purchased by the Federation of Colored Women's clubs of the state. From the several houses selected, the officers of the state federation visiting here will choose the one they think best suited to the needs of the girls. An active campaign has ben carried on for funds all over the state. Last Thursday and Friday were tag days in many towns, and they resulted in the raising of considerable funds for the purchase of the house. The drive will be continued until August 20 by which time it is hoped that the entire amount will be raised. The location of the house will be decided in a few days. SPIRIT OF FROSH PREVAILS AT MEN'S ANNUAL BANQUET - Scintillating Song Hits by Quartette Spare No One But Please All - PRESIDENT GIVES TOAST - Seashore, Kay, Russell, Jones and Shambaugh Also Speak - Johnson Presides - Grace graduate students waxed froshlike and dignified deans hilarious at the second annual University men's dinner at the city park pavilion last night. Dull care was completely flored when a harmony quartette composed of H.L. Ballenger, H.H. Matt, M.F. Penrod, and H.M. Halverson sang nonsensical ditties to the one hundred and twenty-five present. One of the biffs sung to the tune of that old favorite "Polly Wolly Oodle" is as follows: YOung Dean Bull, mighty man is he, For he went away to Siberee, When he came back a czar was he For he'd had some of that Bowlo whiskey. Now Prexy had but little peace For he stayed home with the S.A.T.C. They called "halt" now and they called "halt" then, And halt some more and halt again. But the hero with the smiling face, Used to war and a pretty fast pace, To Professor Ensign the above was not new, For he was an old timer back in sixty-two. Brisco and Benny Hit Too Before Prexy, Dean Bill, and Ensign had time to recover, Brisco and Benny Shambaugh were being carolled to in this wise: O, when you come to Iowa U to find if you're alive, Just steer your feet to liberal arts and hunt room 205, Quite cautiously obtrude yourself into the atmosphere And ask to interview the chief, and this will strike your ear: I'm N.A. Brisco; known for my Japanese fame, And I would have you know, young man, that if you work under me, I guarantee that afterward I shall more famous be. But when you're through with commerce and you really want to work, Just clamber up to regions where the book worms darkly lurk; As you gaze upon the faces pale from lack of light an dair, Then up will speak the cause of all, a man so debonaire: I'm Benny Shambaugh, I'm the one that's to blame I'm Benny Shambaugh, have you not heard of my name? For when my dear old Iowa asks to know when she was born, I ups and puts some guy to work, that's why they look so worn. C.E. Seashore Batted Also Dean Seashore was given a friendly bat also in a tiny ballad which most fittingly concerned tuning forks. Here it is: Tuning forks, tuning forks, buzzing (Continued on page 4)
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