Show news review of current events the world over ove 1 united states steel cuts dividend rate and will reduce salaries Gerni germany ferniany any now Is helping herself by EDWARD W PICKARD U T STATES STATE S steel generally regarded as the barometer of american business conditions went on record when tile the directors at their meeting in new york reduced the quarterly dividend on common stock sharply from to 1 the new dividend rate amounts J A parrell farrell to 4 a share instead of 7 and la is tile the lowest paid by the corporation in sixteen years at the same time the directors dealt fifth the wage question through a recommendation that salaries ot of officers and employees be adjusted leaving it to the management to determine the amount of reduction in pay there was no mention of readjustment of wages and tile tha officials would not lot comment on the possibility of this action but in some quarters it was thought the directors were anthor authorizing thor izing the first move in a program that would be extended to labor in case this became apparently unavoidable president Bo boevers Floor overs ers tion lion took occasion to repent repeat its plea that there be no lowering of wage nage scales in ley hrey industries and ot of living standards and president james A farrell ot of tile the united states steel corporation po ration has been regarded as one of the supporters of this policy the reduction in salaries sil arles it Is un der stood will be put into effect as soon as the adjustments can be worked out the proposed cut will w be applicable OP to all salaried employees and will average about 10 per cent it Is believed one rumor Is that some of the higher executives wl will 11 a accept capt larger laiber reductions president farrell himself Is in this totter latter category the exact amount of tits his salary lias has never I 1 been made public but one guess places it between and OW ilie the reduction of the dividend rate affects more than alian ers era steel stock Is owned and traded in throughout the world wall street took the news aies of the directors action quietly though it lind had hoped the dividend rate would be placed no lower loer than a quarter L OUR more bold aviators success L fully crossed the atlantic ocean though the lie pair were far from reaching their liehr destination bugl 11 uell herndon jr and clyde took off from the new york municipal airport alth the intention of flying to moscow and thence around the world all the way across the ocean ocea n they flew through dense fogs and th they ey were ft ere compelled to land in a farm field near cardigan wales they went ent on to london and continued their flight from there russell kussell boardman and john po lando who left at the same time and from the same airport on a light flight to turkey were more successful for they landed safely in istanbul beating the nou stop distance record established by costs coste of france COL ccarles A LIND BEnan and mrs lindbergh started from washington on their long and perhaps perilous aerial jaunt to japan in their big scarlet and black seaplane the first farst hop which was intended to lot take e them lie as far as north naven haven maine where li Is the summer home of mrs lind benglis ber glia glis parents ended in flushing bay now new york in the midst of a thunderstorm and heavy downpour of rain the colonel announced that the radio tests had proved unsatisfactory and the flight was accordingly delayed until the apparatus was got in order the tour of the Lindberg lis will take them up across canada to the far north across alaska and to japan by way of the aleutian islands their lockheed sirius plane lias has been equipped with every device needed to make the trip safe and successful the colonel Is chief pilot his w wife afe chief navigator and both are qualified q aall to work the wireless c CHEEKED up by 7 t the b e encouraging 11 promises and predictions R 1 I 1 of prime minister Al acDonald of great britain secretary lofstate of State stimson of the united states rid and other eminent statesmen germany worked h hard ard during the week to rescue herself from financial collapse the distin herr elt visitors were received in berlin with uproarious demonstrations and were the chief figures at banquets and conferences britaina Brit ains confidence in germany Is undiminished declared bir Bt acDonald we are filled with admiration for germany and we are firmly convinced that if she continues her efforts it if she exerts all her intellectual moral und and economic powers to get on her feet again without giving any to despair other nations will liela her and ad not sulter suffer her to go unter under A free self respecting germany Is ind indispensable impens able mr air stimson before leaving berlin for london issued a statement in which he said tile the american people have faith in the german people and believe to in their future aay faith in germany has been strengthened by my visit here I 1 believe the present difficulties are due mostly to temporary lack to k of confidence and that through cocrane courage and renewed confidence ger germanas germanys Germ banys anys welfare will ft be restored the german government announced the he formation of the acceptance and guarantee bank with a capital of to facilitate the immediate financial transactions transact lona of the country find and to make possible the opening reopening re e 0 pening of all german banks the and eleven other leading german banks guaranteed the credits to the new bank in addition to removing the the country dr lions hans luther president of the and chancellor bruening said they hoped the new bank would also help reestablish establish re the closed und national bank und and save sae other small banks now tottering one important step taken by the government was the appointment of Ifer herman iuan to assume control of all german banks during the crisis lie he was made controller of the coun arys financial structure with power to draft plans to stop tile hie low flow of funds from the various banking houses herr itz has been closely identified with the great chemical industries of germany rw considerable J sik lv C interest Is evidenced 1 ZY in washing ton in tho the political future and plans of henry P r fletcher veteran diplomat who has just tendered to president hoover his resignation as chairman of the tariff commission effective on november 15 be H p fletcher ing ng interviewed mr fletcher said tersely my illy plans are indefinite but I 1 certainly dont intend to go into a convent there were rumors that lie he would seek the republican nomination for tile pennsylvania sea as successor to senator davis but this he denied also it was thought thon glit he might be appointed governor general of the philippines rn in view of the long experience of mr fletcher in the diplomatic service and the fact he sered as ambassador to both italy and belgium there Is talk that if any change should be made in tile the office of secretary of state lie he would be a logical man tor for the post following the election of hoover in 1023 he was mentioned freely for secretary of state and tor for a ambassador bas to great britain and ambassador bas to france long a friend of president hoover lie he accompanied him on the goodwill good will trip to latin america soon after the tha presidential election ORMAN H n davis N NORMAN one of americas most eminent financiers and at pros pres i 1 ent trustee of the bank of new york and trust company a announced that he had accepted a post on the finance co committee of the league of nations and would salt sail for or europe almost atin alin N H davit davis in 0 st immediately ills his first business there will be to attend a conference on european credits which will open august 20 ile he will then take part in a meeting of the finance committee early in september ile he will return home in october and will not be obliged to relinquish any of ills his business interests in this country as the finance committee of the league Is called together only three times a year each meeting as a rule continuing for only a few days mr davis Is entirely familiar with european flounces finances for during his distinguished career he has been a member of numerous international commissions and conferences in 1920 1020 21 he be was undersecretary of state ONE 0 NE more report has come from tile the wickersham commission cammi slon it deals with the american prison system which it condemns as inefficient antiquated falling to reform the criminal or protect society and as using brutal and unjustified disciplinary measures much aluch of the report Is a denunciation of prison conditions characterized as almost incredible under which men are imprisoned in overcrowded cells without sufficient lelent light or fresh air or benefit of modern plumbing it attacks also the system of prison described as traditional antiquated unintelligent and not infrequently cruel and inhuman asserting these theae methods contribute to the increase of crime by hardening the prisoner the commission urges they be changed by law outlining what Is considered the ideal the commission asserts segregation of the diseased insane drug ad ducted and bard hardened ened criminal Is one on of the first requisites it holds fort res prisons of the auburn type are unnecessary ry save for or tho the worst types under the proposed system all prisoners would be paid wages their treatment would be more humanized the choosing ol of prison would be removed from politics and guards would be trained specifically tor for their task it Is advocated that no man should be sent to a penal institution until it Is definitely determined that he Is not a fit subject for probation extension of the parole system also Is urged an ai the best means yet devised for releasing prisoners from confinement IN ONE of the most strongly worded opinions ever handed down in a prohibition case the united states circuit court of appeals at chicago severely r attacked the tactics of dry agents in en trapping offenders declaring their methods to be a shock to the courts sense of lastice and ob observing erving that there Is an ever ln in c creasing rea ing frequency of similar cases the opinion reversed the convict conviction loa of five dye policemen of 0 indianapolis who last year were ft ere found guilty of conspiracy to protect a speakeasy that there was a conspiracy to violate the prohibition law there can be no doubt said the appellate Appe llata courts opinion the conspiracy was wa conceived by the three prohibition agents who enlisted the services of at a decoy lyle to more effectually accomplish com their object horace lyle who managed the government operated speakeasy Is a notorious colored dry spy who ho has been indicted for bribery and arrested several times for drunkenness IE 1 Is s a lot of labor trouble to in atlie THERE rea alie east s t in new york workers in the mens and childrens children clothing industry went vent on strike on irom from the me amalgamated as workers of america the objects of f the strike according to union of flet als are to prevent a return 0 of sweat shop conditions and to put an end to gangsters intimidation of union workers corkers and officers the two unions in the textile industry at paterson new jersey which are affiliated with the american federation of labor had scheduled a strike for august 3 but their hand was forced by a premature pie mature strike engineered gIn gine ered by the radicals and the more mora conservative ones bere iere ere compelled to quit work earlier than intended thousands of workers walked out and the mills were vere stopped ARLO T IBANEZ B NINE Z C president preside nt and die tutor ot of chile who held ills hla own throughout all the latin american revolutions of last year lias has fallen nt at last the man of destiny as he styled himself faced with a popular uprising that was vas nil all arranged resigned ver carlos ibanez batty j just before the time set for a general strike the tha congress promptly accepted the resignation but apparently withheld the sato conduct out of the country which ibanez asked therefore in the early morning hours the overthrown dictator accompanied by his wife and three army officers fled from the palace in a motor car at los andes they boarded a special train for argentina and it Is considered unlikely that any attempt will be made to bring him back to santiago for trial when ibanez fled pedro president of the senate rind and vice president of chile became acting president but he lasted only a few hours for the tha people were nere convinced he ha had aided ibanez a nez to escape lie ile therefore stepped out in favor of juan estebon Al Mont ontero cro who presumably will be chief executive until a president Is elected montero Is one of the count rys leading lawyers chile hailed with approbation the tha annon announcement cement that pedro Blan quler one of the most popular men in chile had agreed to accept the post of finance minister ills his bread and water pulley policy during his eight day term as premier has been accepted by most chileans Chi leans as a great step to rid the notion nolion of its economic distress FRIDAY saw the belated dedication U of the marble column at put in bay ohio memorializing memorial izing the victory of commodore oliver hazard perry over the british ln in the battle battla of lake erie in 1812 the foot shaft has hai been completed for 15 years year a b but u t the ceremonies were put olt off from rom time to time until the tha present dedication addresses were made by senator james hamilton lewis of 0 illinois and gov george white of ohio among others on the program were wera webster P huntington of columbus president of the perrys victory memorial commission john 11 clarke cleveland former associate justice of the united states supreme courts court and edwin A scott president dent and A W J flack secretary of the canadian club of new york S SAM AM C MAJOR representative in congress from the seventh sila alls bourl district died in fayette mo me and the republican majority in the next house was thus restored to two for sir mr major was a democrat one of 0 the th twelve la in the present missouri delay dale gation gallon of sixteen tie he was sixty two years old and was elected to ills big fifth term last autumn ittu calick |