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November 18, 1933 - Image 6

Resource type:
The Michigan Daily, 1933-11-18

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'eterson Gives
Discussion Of
Seaway Proj ect

Refrigerator Plant Is Seized By Striking Employees

Of St

Burden Of Truth


With Opponents
Lawrence Scheme

Solution Uncertain
Economists Are Objecting
To Propagandist Tone
Of Supporting Argument
EDITOR'S NOTE: This is the second
of a series of articles presenting several
different opinions held by "University
professors dealing with the feasibility
of the proposed St. Lawrence Sea-
The question of the feasibility of
the St. Lawrence Seaway Project, ac-
cording to Prof. Shorey Peterson of
the economic department, is one that
must be approached cautiously by
every economist. In the first place, he
said, the situation is a peculiar one
in that the burden of the proof, con-
sidering the existing political com-
mitments, seems to rest with the op-
ponents of the scheme, whereas fun-
damentally its economic value should
be proven to the satisfaction of those
It is a mistake to make dogmatic
conclusions as to the economic aspect
of the canal, he said. It is going too
far, confidently, to pronounce the pro-
posed Seaway unsound, Prof. Peter-
son said. At the same time the ma-
jority of the arguments for the pro-
posal are based on little or no eco-
nomic fact. Both because of inade-
quate data and faulty analysis it
appears that the advocates have
failed to establish any strong prob-
ability that the project is desirable.
Analysis of the problem is full of
uncertainties. The cost of the project,
the type of ship that will use the
canal, the savings in transport costs
per ton are all questions that can-
not be answered conclusively. If the
present national tendency towards
economic isolation continues, such in-
ternational traffic as wheat, largely
counted on by most advocates, may
be negligible in volume; this, of
course, is applicable to many other
forms of international traffic. The
large savings per ton which the advo-
cates offer as concrete reasons for
the Seaway's completion are often
representative of savings on minor
forms of traffic, Prof. Peterson
pointed out.'
To the economist the most objec-
tionable feature of the claims for
the waterway has been the propa-
gandist tone of most supported argu-
ment. As Prof. Peterson pointed out,,
it is not merely the sentimental ap-
peal of turning lake harbors into
ocean ports and having foreign ves-
sels patronize them. It is even more
misleading to place emphasis on the
benefit to the Mid-West - a sectional'
matter - while the project is under-
taken at national expense. The jus-
tification, that the Panama Canal'
was built to serve the coasts, is large-.'
ly invalid, for traffic using the canal
through the toll system contributes
directly to its support.
A large part of the total transpor-
tation cost for Seaway traffic will
be borne by taxpayers (doubtless over
a dollar a ton for as much traffic asj
will use it) and such expenses to the
taxpayer are as necessary to consider
as those borne by shippers. Argu-
ments to show that they will be cov-
ered by stimulation to industry must;
remain in the realm of pure specula-
tion. Nor does it constitute an addi-.
tional argument to urge, in glowing
phrases or "pretty words" as Prof.
John Worley describes it, the future
industrial development of the middle-
western area. This is allowed for in
the amount of trafficapredicted for
the Seaway; but if new industries
supply insufficient traffic to even-
tually cover the total cost of the
project, including that borne by the
taxpayer, there is certainly no na-
tional gain. All responsible argument
must be based on this assumption,
Professor Peterson said.

Youth must not be afraid to face
the fact that it has to change pol-
itics, it has to change business ethics,
it has to change the theories of eco-
nomics and, above everything else, it
has to change its own weakness. -
Mr. Franklin D. Roosevelt.

-Associated Press Photo
This picture shows some of the 2,500 striking employees of the Hormel packing plant in Austin, Minn.,..
as they kept warm by bonfires after a walkout. The Hormel strike is one of a large number which have
occurred in different parts of the country during the past month.

Use Of Antiseptic For Cuts Is
SCalledFutile By Health Service

The practice of applying vigorous
and repeated doses of powerful anti-
septics to wounds when one injures
oneself to the extent of drawing
blood, is a futile and sometimes dan-
erous practice, according to an offical
Health Service report. The report
continues in full:
Although everyone knows the dan-
ger from germs in a wound and that
antiseptics kill germs, personal ex-
perience is no guide as to the value.
of an antiseptic. It is safe to say
that the average individual of mascu-
line persuasion has had during the
first 21 years of his life at least a
1,000 injuries that have brought
blood, but very few have harmful
In a recent test, three groups of a
12 men each, men who have been
in the rougher kinds of athletics,
were asked how many had had sep-
ticaemia or blood poisoning from ab-
rasions or cuts, and the answer was
negativ6. So, when a person says
with some pride and assurance that
he has used such-and-such an anti-
septic for so many years and has
never had a case of blood poisoning,
it does not mean much as to the
value of that antiseptic. The value
of an antiseptic should be judged by
the opinion of a person trained in
this branch of medicine and unbiased
by financial interest.
It is granted that there is a pos-
sibility of blood poisoning from every4
cut or laceration, but what has na-
ture done about it? In the first place,
she has developed a so-called bio-
chemical action of the skin to do her
own killing. Experiments were made
in a research laboratory of Chicago
in which men from different walks of
life, during their occupations, were
subjected to a test. One half of the
forearm of each was shaved and
washed with soap and water. Then
a large variety of germs, mostly of
the pus-forming kind, were rubbed
thoroughly into the skin of the
shaved portion and likewise into the
unshaved portion. It was found that
90 per cent of these germs were de-
stroyed in 10 minutes in the shaved
and washed portion, while in the un-

shaved part, they were found alive
as long as 24 hours afterward.
Next, there is a substance in the
blood called an anti-toxin that has
an inhibiting and destructive action.
Thirdly, there are blood cells, the so-
called white blood cells, that im-
mediately hurry to an inflamed or
irritated part and attack the germs,
often wrapping themselves around
the germs and digesting them. More-
over, there is a constant oozing from
the surface and into the fresh air,
that still further prevents them from
doing much harm.
The danger from dirt carried into
the wound is from the germs that
may be on the dirt. There are mil-
lions of them, so the chances are that
if one really attempts to get all the
dirt out of a lacerated wound, he
will rub more germs down into the
tissues where they can do much more
harm. The average person will at-
tempt to wash out all the dirt. This
is an impossibility. Or he will put
on a strong antiseptic. This pos-
sibly destroys the bio-chemical ac-
tion of the skin and, if of the pene-
trating kind, it will reach rather far
down into the tissues and destroy the
white cells; it will also destroy and
lower the resistance of the tissue
cells. He will say, "If I have killed
all the germs, what of it?" He can
never reach all the germs and he will
have arranged a nice place in which
they can work. Also, nature tried to
make us fool proof and has a sub-
stance that will neutralize the ef-
fect of most antiseptics.

Award Annual
Prizes To Two
Law Students
Cooper And Spater Given
Memorial And Coblentz
Prizes ForScholarship
Frank E. Cooper, '34L, and George
A. Spater, '33L, were honored yes-
terday as recipients of two annual
awards presented by the faculty of
the Law School. Cooper was awarded
the Class of 1908 Memorial Schol-
arship and Spater was named for the
Howard B. Coblentz Prize.
The Memorial Scholarship, made
possible through the generosity of
Guy B. Findley, '08L, is the income
from a fund of $1,000 awarded at
the beginning of each school year to
that student who has attained the
highest rank in the second-year class
of the preceding year. Cooper was
an all-A student his first year in
Law School and barely missed a sim-
ilar record last year. He is a for-
mer city editor of The Daily.
The Howard B. Coblentz Prize was
established in 1921 by Mr. and Mrs.
George W. Coblentz, of Erie, Pa.,
who donated a gift of $1.000 in mem-
ory of their son, Howard B. Coblentz,
a member of the Law Class of 1918,
who enlisted while a student and
lost his life in the World War. The
income from this fund is awarded
at the end of each college year to
that student member of the Michigan
Law Review editorial staff whose
work on the Review during the year
has been most satisfactory.
Spater, who was awarded this
prize, graduated from the Law School
last year and is now a member of
the New York law firm of Chad-
bourne, Stanchfield, and Levy.

Sharfman Says
Control By U. S.
Is Not Radical
(Continued from Page 1)
be enforced by the Federal Trade
Commission, which requires that each
company issuing securities to the
public must file a prospectus of the
company's condition, including in it
all facts that are material to the in-
vestor's knowledge of the status of
the corporation issuing the stock, he
"When a registration statement is
in effect which omits to state a ma-
terial fact required to be stated there-
in or states untruly a material fact,
either directly or through failure to
state facts necessary to prevent the
facts stated from being misleading, a
remedy is given to all persons pur-
chasing the security," Mr. Bane said.
The chief of the securities division
was followed by Walter A. Staub,
president of the New York State So-
ciety of Certified Public Accountants,
and Henry C. Murphy, economist of
the National Bank of Detroit, both
of whom spoke on the same subject.
Mr. Staub agreed essentially with Mr.
Bane on the principles of the Fed-
eral Security Act, but raised the ques-
tion that it seemed unfair to the ac-
countant and other professionals to
make them jointly responsible with
the underwriters and issuing corpora-
tion for any returns to investors re-
sulting from infractions of the law.
The responsibility of the account-
ant in the new business world is to
fight against the selfish viewpoints
of clients who want to take advan-
tage of the loop-holes in the tem-
porary codes which are being written
at Washington by the NRA, George
P. Ellis, president of the American
Society of Certified Public Account-
ants, declared yesterday at the lunch-
eon meeting of the conference.
Mr. Ellis, who has recently re-
turned from Washington, where he
has been assisting with the work of
the NRA, was emphatic in his de-
nouncement of critics of the admin-
istration, saying that the "leading
men" who criticize it on minor de-
tails are "obscuring the objectives
of the law."
Leaving the question of the NRA,
he applied to the accountants of the
profession to have the "courage to
lose a client" if he attempts to in-
duce the accountant to make use
of certain questionabletpractices in
filling out the requirements of the
NRA. "There are many companies
that are cheating on the codes now,"
Mr. Ellis said, "but they won't be
able to cheat for long."
The accountant is face to face with
the necessity of recognizing the in-
terests of the industry as a whole
instead of the interests of each in-
dividual firm in the industry, with
an attempt to allocate the share of
each unit of the industry instead of
letting the individual companies fight
it out with destructive competition,
he declared.
Stating that although he was a

October Is Found
A Busy Ionth For
The Health Service
The monthly report o the Univer-
sity Health Service shows October to
be one of its most active periods of
the year. During the last month,
apart from the regular service, re-
checks and re-examinations of the
health status of freshmen groups and
new transfer students were made.
Prompt and personal contacts were
made with these students by the
group medical advisors, and partic-
ularly with those students whose
physical condition demanded immed-
iate attention. The appointment of
medical advisors for the respective
classes has remarkably facilitated
this personal attention to individuals,
resulting in a most encouraging co-
operation from the student body, ac-
cording to the report.
Acute sickness during October, was
caused by a moderately severe epi-
demic of acute respiratory infection
with a primary selectivity of the
bronchial t u b e s, accompanied by
coughing attacks, and particularly
severe gastro-intestinal complaints of
nausea, vomiting and abdominal pain.
Because of the selectivity of the lower
respiratory passages, there were six
cases of bronchial-pneumonia, all of
which made a good recovery.
Statistical data for the month of
October, 1933, as compared with the
same month in 1932 are as follows:
Dispensary calls inrceased from 10,443
to 11,483; infirmary patients in-
creased from 153 to 163; laboratory
examinations increased from 1,158 to
1,267; sensitization examinations de-
creased from 89 to 86; mental hy-
giene interviews increased from 1,005
to 1,477; X-ray examinations de-
creased from 521 to 424; nose and
throat operations increased from 14
to 25; and refractions increased from
185 to 215.
staunch Republican he favored the
support 'of the NRA and the present
administration, Mr. Ellis said, "This
is no time for politics" and stressed
the need for a broad non-political
viewpoint on the matter of its sup-
Mr. Ellis was introduced by Dean
Clare E. Griffin of the School of Bus-
iness Administration, who welcomed
the members of the conference to
Ann Arbor on behalf of- the Uni-
versity and explained some of the
principles which were motivating the
work of education in his particular
At a technical meeting in the mor-
ning a round table discussion of the
Michigan Corporation Act as it re-
lates to the preparation of balance
sheet statements was held.
Robert E. Payne, president of the
Illinois Society of Certified Public
Accountants, presenting the subject,
said that this act creates serious re-
sponsibilities on the part of officers
and directors of corporations in con-
nection with the payment of divi-
dends and salaries and the purchas-
ing or retiring of capital stock.

A Large Group
Of Alumni Will
Attend Dinner
University Of M i c h i g a n
Club Expects Capacity
Crowd At Affair
A capacity crowd of alumni and
students are expected to be in at-
tendance at the annual national
banquet of the University of Michi-
gan graduates scheduled for next
Friday night before the Michigan-
Northwestern football game, at the
Hamilton Club, Clark St., Chicago,
according to T. Hawley Tapping,
general secretary of the Alumni As-
The regular business meeting of
the fifth district of the Alumni As-
sociation will be held in connection
with the banquet on Friday after-
noon, according to Mr. Tapping. He
expressed the belief that the com-
bining of these two important func-
tions on that date would practically
insure the presence of a large num-
ber of students and alumni at both
of them.
This year the national banquet is
being sponsored by the University of
Michigan Club of Chicago, under the
direction of a central committee
headed by Thomas I. Underwood, '21,
a former president of the Union.
Mr. Underwood has as yet an-
nounced no definite program for the
dinner, but recent developments have
made it highly probable that the
Varsity Band will furnish the music,
and prominent alumni from all over
the country and members of the Uni-
versity coaching staff will be included
on the list of speakers.
Alfred E. Smith has been given the
honorary 'degree of Doctor of Laws
by the University of the State of New
York. This university is unique in
the United States in that it has no
faculty. no student body. It consists
of the board of regents of the New
York 'State public school system. In
effect it is the state board of educa-


f'!"* A T n

Nobel Prizes Given
Professors Once



Two former visiting professors at
the University of Michigan's sum-
mer -symposiums for theoretical
physics were recently given the '32
and '33 Nobel physics by the Swed-
ish Academy of Science. Dr. P. A.
M. Dirac of Cambridge University,
who lectured here at the 1929 sym-
posium, won the 1933 prize, while
Dr. Werner Heisenberg of the Uni-
versity of Leipsig shared the 1932

prize with Dr. Erwin Shrodinger of
Dr. Heisenberg was a regular lec-
turer here in the summer of 1932;
Dr. Schrodinger has spoken in Ann
Arbor in the past. The prize was
awarded to the three men for origi-
nating the quantum mechanics the-
ory which has been extremely suc-
cessful in explaining atomic phe-

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Saturday 9 - 12

This Is The 20th. Century
In this modern age, don't use "1890" methods to
protect your valuables. Under the mattress or behind
the chiffonier is no longer a safe place for your jewelry,
papers and heirlooms. Our Safety Deposit Boxes are

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