NORTH SHORE BREEZE 
33 
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place and will so be used. Two 
Manchester residents are working 
on the air crafts, Tracey Hubbard of 
the West Manchester colony, at Ips- 
wich, and Greely Curtis of Manches- 
ter Cove at the aviation field in 
Squantum. Mr. Curtis is at work on 
a Burgess machine, which has been 
so successful recently. Several dar- 
ing flights have been made in the 
Burgess machines. <A fortnight ago 
one of the machines with two avia- 
tors aboard landed at Tedesco 
Country Club in Marblehead. Mr. 
Burgess failed to greet the birdmen 
on their arrival as he was awaiting 
them at the Essex County Club in 
Manchester, the terminal he had in 
mind. The Shore presents so many 
favorable opportunities for air nay- 
igation it is strange that air ships 
have not been seen here in flight 
more often. 
Government Securities. 
The new issue of Panama Bonds 
are now in the hands of the bankers 
for disposal. In Europe government 
bonds have always been attractive, 
but in America the low rate of in- 
terest return has not contributed to 
their popularity. The Savings Bank 
has been the more successful bidder 
for the funds of the people. The 
large denominations of the bonds 
have not tended to inerease their 
popular worth in years gone by. In 
fact ilarge blocks have been used 
largely by National Banks to pro- 
vide their guaranteed fund required 
by law. The small investor has 
placed his funds in other hands. 
An interesting departure which 
will be watched with interest is the 
issue of one hundred dollar bonds. 
The prices for all of Uncle Sam’s se- 
curitices are high and cannot be at- 
tractive to speculative investors. 
The new bonds, three per centum, 
dated June 1, 1911, and payable 
June 1, 1961, are exempt from all 
taxes and duties, by federal, state or 
municipal governments. ‘They may 
be used to secure United States de- 
posits. At maturity they are pay- 
able in United States gold coin. The 
low rate of yield to the investor and 
the high prices of the bonds is an 
‘indication of the financial integrity 
and eredit of the United States gov- 
ernment. The new bonds are selling 
at 103 3-16 and yield 2.89 per cent, 
the highest per centum of interest 
paid any of the United States bond 
issues, which vary in the interest 
yielded from 1.90 per cent from the 
Panama Registered Canal Bonds, re- 
deemable August 1, 1936, optionally 
in 1916, to the 2.89 per cent of the 
new issue. The new bonds are much 
Che Cree of Giberty 
O brave were our fathers 
Who crossed the wide sea 
And planted the seed here 
Of Liberty’s tree. 
The tree that so fair 
And so stately appears, 
They nourished with blood 
And they watered with tears. 
O green be thy branches, 
Fair Liberty’s tree, 
And long may they flourish— 
The hope of the free; 
: And ever while valor 
And virtue have worth, 
May thy roots spread abroad 
Till they clasp the whole earth! 
—Joseph A. Torrey. 
2990000000000 00000 0000000000 0000 00000000000000000 
cheaper than the other government 
issues. It is of no small moment. to 
American enterprise that the Gov- 
ernment’s credit is so good, 
Express Investigation. 
The National Association of Rail- 
way Commissioners’ appointment of 
a committee to investigate and re- 
port on the method of ‘‘regulating 
express ¢ompanies and curbing the 
accumulation of profits’’ is a service 
which is appreciated by the public. 
The tremendous profits of the ex- 
press business has been a source of 
national discontent. The express 
business has grown prosperous at 
the expense of every business enter- 
prise. Their large fees have been in 
fact unnecessary levies upon com- 
mercial transactions. If results are 
forth-coming, as they ought to be, 
as the committee is a strong one be- 
ing composed of railway commis- 
sioners and members of public ser- 
vice commissions of every State, a 
great forward movement must fol- 
low. The committee plans ‘‘to shape 
further legislation and formulate 
rules pertaining to express carriers 
relative to the maximum amounts 
they shall charge for service.’’ The 
progress of the committee will be 
followed with interest by every eiti- 
zen. 
An American Honor. 
The award of the commission to 
paint the coronation portrait of Eng- 
land’s Monarch goes again to an 
American and strangely enough to 
another citizen of Philadelphia. J. 
McC. Hamilton, already famous for 
: 
his portraits is the honored artist. 
The choice is an honor to the man, 
to his city and a tribute to the ar- 
tistic precedence of America. There 
is an added interest in the award 
since an American, Edwin A. Abbey 
painted the cornation portrait of 
King Edward. 
It is now Miss Mabel Boardman, 
M.A. If this honor had been be- 
stowed by any of the American eol- 
leges for women it would have been 
a distinction. The recognition of 
her humane work in the Red Cross 
Movement by Yale University, one 
of the leading universities of the 
world, adds to the merit of that de- 
gree. It is a rare award and corre- 
spondingly worthy. 
Manchester’s pride is Beverly 
Farm’s envy. A change in the city 
ordinance is one of the hopes for 
better side walk. conditions in Ward 
Six. Our Ward Six Correspondent, 
Former Councilman Morgan, has 
taken up the matter with the city 
officials and it is hoped that some- 
thing soon can be done. 
There is no reason why the City 
of Beverly should grant pole rights 
to the telephone company around 
the West street circle skirting the 
beach. Put them underground. We 
prophecy, ‘‘leave to withdraw,’’ 
when the hearing is held. 
The small gain, in the number of 
assessed polls in Ward Six, the 
smallest gain of any Beverly Ward, 
thirty-nine, is significant. 
