Mr. Baruch Announces Final Wind-Up of the War Industries Board Jan. 1; Certain Work Will Go on Capital Issues Committee to Suspe

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Mr. Baruch Announces Final Wind-Up of the War Industries Board Jan. 1; Certain Work Will Go on Capital Issues Committee to Suspe PUBLISHED D.AILY under order of THE PRESIDENT of THE UNITED STATES bY COMMITTEE on PUBLIC INFORMATION GEORGE CREEL, Chairman * * * COMPLETE Record of U. X. GOVERNMENT activities VoL. 2 WASHINGTON, THURSDAY, DECEMBER 26, 1918. No. 496 MR. BARUCH ANNOUNCES Christmas Greetings CAPITAL ISSUES COMMITTEE FINAL WIND-UP OF THE WAR Between U. S. Army TO SUSPEND ITS ACTIVITIES In France and Forces INDUSTRIES BOARD JAN. 1; In the United States THOUGH ORGANIZATION WILL CERTAIN WORK WILL GO ON The War Department au- CONTINUE FOR THE PRESENT 1horizes publication of the fol- TELLS OF TRANSFER lowing cabled Christmas greet- MAYRENEWFUNCTIONS OF A FEW SECTIONS ings between the American IF NECESSITY ARISES Army in France and the Ameri- Planning and Statistics Di- can Army in the United States: Economy in FinancialOper- vision Taken Over by War "For Gen. March, Chief of ations Urged and Public Trade Board-Wool Sec- Staff. Warned to Beware of " Please accept for the of)i- tion Goes to Bureau of (es and nvyn of the American Fraudulentand Worthless Markets, Department of Army in the United States Securities-Statement by Agriculture - Chairman cordial Christmas greetings Secretary Glass on the and best wishes for the comning Expresses Appreciation of year fron thc American Expe- Conservation of Liberty Devoted Efforts of Co- ditionary Forces. Bonds-Restrictive Legis- workers on the Board. Pershing." lation to Be Asked. B. M. Baruch, chairman of the War In- "For Gen. Persking, Public announcement that the work of dustries Board, authorizes the following: American Expeditionary the Capital Issues Committee would be As approved by President Wilson in suspended on December 31 was contained his letter of November 30, 1918, accepting Forces, France. In a statement given out by Charles S. the resignation of the chairman of the "Christman greetings to your- Hamlin, chairman of the committee. The War Industries Board, the actil ities of self and the American Expedi- statement follows: the War Industries Board, as such, will In view of the rapid changes that have cease January 1, 1919. tionary Farces. A Happy New taken place since the signing of the armis- Many of the divisions and sections of Year and a speedy return home. tice, the Capital Issues Committee has the board have already completed their March." voted to suspend its activities on Decem- work and have disbanded, and most of ber 31. The committee will not be dis- the others will wind up their affairs this solved, but will remain inactive unless it week. is found that the sale of new securities At the request of the President, how- Auction Sales of Surplus competes unduly with Government financ- ever, the chairman of the War Industries ing or for other reasons it may become de- Board has completed arrangements Army Animals in January sirable for the committee to resume its wxhereby certain activities of the board, work pending its dissolution by the Presi- which should not pemanently be dis- The War Department authorizes the dent or by operation of law. pensed with, wNiii be turned over to other following from the Office of the Director Continued Economy Urged. departments of the Government to ad- of minister. Purchase and Storage: Auction sales of surplus Army horses Although the war emergency which Planning and Statistics Division. and mules are to be held at the various gave rise to the creation of the committee has passed, it is nevertheless imperative It has been arranged that the powers camps and cantonments throughout the country during the month of January. that capital should be saved and not and duties of the Diision of Planning wasted, and the removal of the restrain- and Statistics of the War Industries The schedule calls for four sales, Jan- uary 7, 14, 21, and 28, at which a total ing Influence exerted by the committee Board shall, on January 1, be taken over during its existence should not be con- by the War Trade Board, along with such of 44,455 animals will be sold. These will include cavalry horses, artillery strued as approval of the financing of un- officials or employees of the board as may necessary public projects or private enter- be necessary, horses, draft horses, mules, and pack together with all papers, animals. prises of doubtful merit. On the contrary, files, and records of the division. the financial needs of the Government The functions and powers of the Wool Announcement %ill be made later as to the number of animals of each class and the large capital requirements of the Division of the War Industries Board, railroads and for the readjustment of including especially those relating to the to be sold at each camp during the four January sales. American industries to a peace basis com- payment by wool dealers or bu-,ers of any pel strict economy in the use of new sums due by them under " Government IN CHARGE OF SAN capital. regulations for handling wool clip of SALVADOR. While legitimate business may safely 1918," as established by the board on Dr. Quinonez, vice president of San be left to work out its own problems, the May 21, 1918, and the disposition of such Salvador, has again taken charge of that Capital Issues Committee feels that it payments, shall, on January 1, 1919, as Government, President Melendez having would be unfaithful to its responsibility already announced, be taken over by the signed a decree for that purpose. Dr. if it failed to warn the public respecting Bureau of Markets of the Department of Polomo has publicly withdrawn his candi- the enormous losses sustained by the Na- (Continued on page 6.) dacy for the Presidency. tion through the sale of worthless and 2 THE OFFICIAL U. S. BULLETIN: THURSDAY, DECEMBER 26, 1918. fraudulent securities. In the opinion of the committee the sale of such securities ASKS PERMANENT COMMISSIONS AMERICAN CONSUL DETAINED should be restrained in times of peace as well as in war and strongly urges that FOR 51IGIl-RANK ARMY OFFICERS BY TURKESTAN BOLSilEVIKI Congress establish adequate machinery to put a stop to this traffic. The State Department is exerting every Secretary Baker Requests Rec- effort to obtain the release of Roger Cul- Restrictive Legislation Advised. ognition of Gens. March, ver Tredwell, the American consul at The extent of the menace, due to the Petrograd, who is interned in his rooms issue of such securities, to the holders of Pershing, and Bliss and at Tashkend, Turkestan, by the Bolshe- Government bonds is revealed by the fact Lieut. Gens. Liggett viki authorities, and Acting Secretary that schools are being established in some Phillips stated to-day the department is parts of the country to drill salesmen, in and Bullard. hopeful of the result. the art of persuading investors to sub- Tredwell was interned in his rooms by scribe for unmeritorious or worthless se- WAs DEPARTMENT, the Bolsheviki the latter part of October curities. This can only be prevented by Washiagton, D. C.. and the department, immediately upon legislation vesting in some duly consti- December 21, 1918. learning of his detention, cabled instruc- tuted public agency full power to restrain MY DEA SENATOR: tions to its representatives to spare no the offering of fraudulent or worthless Under the provisions of section 3, of efforts in bringing about his release. The securities. the act of Congress approved October 0, efforts have been made through the posts The Capital Issues Committee warns 1917, the President has appointed, by at London, Teheran, Peking, Christiania, the public and earnestly directs the at- and with the advice and consent of the and Calcutta, as well as through other tention of Congress to the problem. It is Senate, certain officers of the Army to representatives of the department, and all the intention of the committee to make a the grades of general and lieutenant the foreign governments approached have supplementary report to Congress recoi- general. These officers, in order of rank, taken an immediate interest and have mending a law to prevent these existing are: given similar instructions in the interest abuses and such impositions upon the in- Gen. Peyton C. March, Chief of Staff of Tredwell's release. The governmdnt of vesting public. of the Army. India has been especially helpful in this The committee will maintain its offices Gen. John J. Pershing, commander of connection. in Washington until further notice. the American Expeditionary Force, Tredwell is not in prison, but is con- fined Statement by Secretary Glass. France. to his rooms and is being treated well, according to the departments ad- Secretary Glass issues the following Gen. Tasker H. Bliss, retired, former Chief of Staff, now military representa- vices. He has been in the American con- statement: sular service for 10 years. The decision of the Capital Issues Com- tive of the United States at Versailles mittee to suspend its activities on De- and a member of the Peace Commission, cember 31 should not be interpreted by has the brevet rank of general. the business public as a warrant for any Lieut. Gen. Hunter Liggett, command- MEETING OF COPPER INDUSTRY expenditure of capital for needless or ing 1st Army, American Expeditionary unwise purposes, whether public or pri- Force. WITH PRICE FIXING COMMITTEE vate in their nature. Should it become Lieut. Gen. Robert L. Bullard, com- manding 2d Army, American Expedition- apparent that voluntary restraints are At a meeting of the Price Fixing Com not being exercised so as to prevent the ary Force. These officers have performed tremen- mittee with the copper industry held misuse of capital, I shall request the com- on the 20th day of December, the chair- mittee to resume its control.
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