TEST BEFORE YOU INVEST THERE are three fundamental factors that every investor should consider before buying any kind of securities. These three qualifications seem obvious. Yet again and again people lose their money, find they are without income, or that they have securities which they cannot sell when they want their money-all because they have bought without due consideration of the three graces of investment: 1. Safety of principal. 2. Income producing qualities. It seems almost ridiculous that any one should need to be told to be careful about the use of money which has been carefully and probably laboriously earned and saved. Yet every day brings its stories of savings lost because of insecure investments. It is bad enough to have an investment that pays no dividends or cannot be sold, but these are minor disadvantages compared with finding that you have no investment-your principal gone. The second test is regarding income-producing qualities. Generally speaking, the greater the income, the greater the risk. This is a rule subject to countless exceptions. For that very reason you must investigate thoroughly the incomeproducing features. The third test of an investment is marketability. This is solely a matter of choice. If you want your money invested where you can obtain it quickly, you must buy securities which will have a ready market. On the other hand, if marketability is not necessary, you can probably invest your money so as to earn more. As simple as these three investment tests seem to be, very few investors have the facilities to put them to use. Your bank will test them for you, or the Investor's Service Bureau of SCRIBNER'S MAGAZINE. If you want to take advantage of our service, write or use the attached coupon. MIAMI MIAMI, with its world known activity offers you investment opportunities for both safety and profit. Here in the fastest growing city in the country you can invest with absolute confidence in First Mortgages and First Mortgage Bonds secured by income producing properties of the highest type. If you own securities which are not yielding you an eight per cent return-you should know more about the riskless investment opportunities offered here. For over nineteen years our officials have served their clients without loss of a single dollar to an investor. Personal supervision including insurance and payment of taxes assured. Consult us about your investments. Write for our New Investment Booklet "S. M." This Declaration of a Country-wide Group of Investment Bankers Insured Mortgage Bonds are distributed to Investors by the above-named established Investment Bankers, to whom orders for bonds as well as inquiries for booklet "An Investment Insured for Its Lifetime" should be addressed. THE FINANCIAL SITUATION -What Happened When England Resumed Gold Payments-Bank of BEHIND THE SCENES WITH SCRIBNER'S AUTHORS Published Monthly 113 FRONT ADVERTISING SECTION 597-599 FIFTH AVE NEW YORK 7 BEAK STREET. LONDON, W. 1. Publishers of SCRIBNERS and ARCHITECTVRE MAGAZINE Copyrighted in 1925 in United States, Canada, and Great Britain by Charles Scribner's Sons. Printed in New York. All rights reserved. Scribners RICANIZER Authors .A.M. Far from the Madding Crowd's Approving Cheer JUST at this moment, when the roar of the Bryan is abroad in the land and forces are lining up to joust over the Tennessee antievolution law, we are particularly glad to present Professor East's article on heredity. Says this prominent biologist: We don't know the why of heredity any more than we know the why of electricity and of gravitation; but we can describe the how of heredity in terms as precise as those used in the older sciences. One of the most abstruse mysteries of life has been unriddled. No other advance since Darwin has made such a change in the outlook on human affairs, and if a few suggestions of this change can be given to the public in non-technical language, I think it will do a great deal of good. To the August number, Dr. East will contribute "Heredity and Sex." Those who call war the > strengthener of a nation's morals and spirit are being heard more and more. Again we are glad to present dissenting voices. George A. Coe is professor of religious education at the Teachers College of Columbia University. Oliver La Farge is one of Harvard's youngest alumni. He graduated in the class of 1924 and is not yet twenty-four years old. AN OLD TEACHER GRATEFULLY DEDICATES THIS BOOK TO THOSE OF HIS STUDENTS And Here's the FICTION NUMBER Stories by MCCREADY HUSTON A Woman of No Imagination The Uncharted Course The Lost Story by ABBIE CARTER GOODLOE Closed Roads Youngsters vs. Oldsters Gerald W. Johnson, who caused the consumption of a large portion of "What You Think About It" for May with letters about "The Battling South," now contributes "The Dead Vote of the South." Be it stated at once, as it has been before, that Mr. Johnson is a native Southerner and had several relatives killed by Yankee bullets, if that means anything to any of you. He is instructor in journalism at the University of North Carolina. Probably "the hysterical old maids of both sexes" to whom Stanislaw Gutowski refers will not take his "Through the Mill of Americanization" too kindly. But we believe that the point of view of an immigrant who has gone through the mill is decidedly worth presenting. Especially when the immigrant is such as Mr. Gutowski, who, after working his way through college, acquitted himself with much credit in the war as a captain in the United States Army. Mr. Gutowski is now studying law. by M. B. STEWART by HENRY N. SHERWOOD Dr. Coe is sixty-three. Their views of the attitude of youth toward war represent two generations, of which one engineered the war that the other was too young to fight. One thing that draws us to Dr. Coe is that he dedicated his recent book, "What Ails Our Youth?" in this manner: We started to say that "Lord of the Wilderness" was off Walter Prichard Eaton's beaten path. But he doesn't seem to have any. He has written such books as "Penguins, Persons and Peppermints," "At the New Theatre," and "Boy Scouts of Berkshire," as well as the play "Queen Victoria" in collaboration with David Carb. Not so long ago he spoke at the National Republican Club, following a threat of censorship of the stage by John S. Sumner, and said: "Every one knows that we don't make character in children by prohibition. God deliver a child from nagging parents. God deliver a people from a nagging censorship." Caroline Camp runs an antique shop in Canaan, Connecticut. And that, says she, is that. William Douglas Burden's Mongolian adventure took place shortly after his graduation from Harvard in 1922. He is a New Yorker who finds pursuing antelope in a Ford greater sport than dodging taxicabs or pedestrians. Torrey Ford is Sewell Ford's son. Hence it is almost redundant to say that he is contributor to many humorous periodicals. And, since we seem to be piling up the score for Harvard in this number, he's Harvard '13 and a newspaper man once himself. Frederick White is an inveterate fly fisherman, and he even was connected Among the with the flying corps during the Fictioneers war. We haven't had the chance to ask him if he ever made a catch such as the professor's. Edwin D. Torgerson, having broken a lance for capitalism in "Letters of a Bourgeois Father to His Bolshevik Son," now becomes democratic and spoofs at family trees a bit. Mr. Torgerson has been in newspaper work in Birmingham, Alabama, for the past ten years. Eleanor Stuart is Mrs. Harris Childs. "The Perfect Servant" is based on a residence of three years in East Africa. The Poets The story goes the rounds that when Nancy Byrd Turner's poem "Going Up to London" was published in SCRIBNER'S MAGAZINE Some New Hampshire people, who were particularly interested, went down to Boston, found the young author in the editorial offices of The Youth's Companion, and sent her to England for the summer so that she might really "go up to London," as she had dreamed. Perhaps the inspiration for her poem in this number came from that trip. Eben D. Finney is a son of Dr. John M. T. Finney, of Baltimore. He is Princeton, class of 1919. Virginia Moore is the holder of an M. A. degree from Co lumbia. William Lyon Phelps talks of the Conversation Club in his department. Here they are. And below is a petition which the club sent to President Angell. Left to right, standing-Chas. A. Dean, Detroit; Warham Whitney, Rochester; John G. Rumney, Detroit; George J. Peet, New York City; Frank L. Babbott, Brooklyn; L. R. Cheney, Hartford; George H. Crocker, Boston; George D. Clapp, Boston; George M. Gray, New York City: Cabot J. Morse, Jr., Boston; S. Williston, Cambridge; T. I. Hubbard, Babylon, N. Y.; Jas. T. McCall, Montreal; H. T. Cole, Detroit; Frank W. Hubbard, Detroit; J. S. Farrand, Jr., Detroit. Sitting-Justice Thompson, Philadelphia; John V. Farwell, Chicago; D. L. Gillespie, Pittsburgh: Chas. F. Lancaster, Boston: Walter J. Travis, Garden City, N. Y.; W. L. Phelps, New Haven; Nicholas Murray Butler, New York City: Major J. C. C. Black, Augusta; Daniel Frohman. New York; Cabot J. Morse, Boston. TO THE PRESIDENT AND CORPORATION Esteemed and Respected Sirs: We, the humble subscribers, addicted to the use of all manna that falls from Heaven, do hereby petition that Professor William Lyon Phelps be assigned to resident service as Missionary Bishop of Augusta, Ga., for the month of March of each year and given a full supply of comfortable rooms, conversation and golf balls. And your petitioners will ever pray. NICHOLAS MURRAY BUTLER, and others, listed above. And the president's reply, significantly dated April first: TO NICHOLAS MURRAY BUTLER, ESQ., Sirs: The President and Fellows of Yale University are graciously pleased to take cognizance of your humble petition that one William Lyon Phelps, the same being sound in the faith of the Baptist Communion, be annually assigned during the month of March to resifirmly convinced of the deep spiritual need of our pedent service as Missionary Bishop of Georgia. Being titioners and of the pagan conditions among which they dwell, our hearts are moved to grant this request. But, be it well known to ye all and several that His Reverence must, at your expense, be well and fitly housed and fed, with golf balls of the newest breed liberally supplied, and that once at least upon each Sabbath Day ye are to gather and listen to his minis trations. Given under our hand and seal this first day of AND TWENTY-FIVE OTHER PETITIONING MALEFACTORS April, Nineteen hundred and twenty-five. JAMES R. ANGELL. OF GREAT WEALTH. SEAL. |