Adventure Magazine Cover, October 10, 1921 — page 185: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

The Camp-Fire had some valuable experience along these lines. If you want to add any of us in the office, or any other Camp-Fire members who can meet with the others in New York, all right. A committee selected from these names can give the final shaping and turn over the campaign to whatever permanent ex- ecutives the consensus of your opinion calls for. When you have read the following letters and those kept for the next issues I think you will agree that the prospects for our ex- pedition look very bright indeed. If I don’t sound enthusiastic it is because I’m trying hard not to appear too much so. I’m strong for the idea. IRST, here is a letter full of interesting suggestions. As to the financial ar- rangements suggested I’m no judge—out of my line. I’ve heard, though, that one big New York banking-house is full of Camp-Fire numbers, from its president down. Have forgotten which one, but can find out and will learn from others whether the suggested method of handling funds can be put into operation if Camp-Fire decides on it. If the rest of you wish, of course we'll make the suggested arrangement for dis- placing a story with an account of the expedition. Our job in the office is to make the magazine as nearly what you want as we can. pe TO my being on the committee for handling finances, though I appreciate the suggestion in the following and other letters, there’s nothing doing. I can handle some things, but financial matters should be handled by those trained in them, as I am not. Also there is the little matter of my having already stated definitely that I would not undertake this responsibility. I’m sick of politicians and such who finally accept positions they’ve loudly declined and I don’t want to class in with them. Nothing doing. But of course I'll do all I can to help unofficially on the side. Rochester, Pennsylvania. I would like to be one of the first to go on record heartily approving an expedition of scientific ex- ploration sponsored by Adventure and paid for by us, the readers. I think Mr. McDonald’s idea about the best that has originated through Camp-Fire and will do all I can personally to help along the 175 move. After reading carefully what he has to say, _ and your own suggestions, I think I have an improve- ment on at least one of the ideas expressed, to wit: Me. McDONALD suggested $10 contributions, with that amount as the limit. Your suggestion is to make the “shares” $10, but to allow portions of “shares’’ or ‘good-will shares” to be distributed among those who might not be able to contribute more than, say, $1. Here is my idea along this line: Make these “shares” with a par of $1, then the $1 contributors can buy one share and the $10 men can have a certificate for 10 shares. This idea came to me as the natural solution to this particular problem, probably because I am and have been for a long time the financial editor of the Pittsburgh Dispatch. By putting a par on our shares, you see, we do away with the problem of fractional shares or “‘good-will’”’ shares. I hate to see the $1 idea carried too far, however, for I’m.afraid it soon would result in most of the contributions amounting to only that sum. Try and get the $10 idea across, and I feel that $10 will be as easy to get from the great majority of Camp-Fire as $l. Y ALL means have the exploration under auspices of some big museum. It then would be conducted along scientific lines with a minimum of wasted effort, time and money and the objective from the start would be more definite. However, I do not favor sending the money to the museum, but rather to “‘Adventure’s Fund for the Scientific Exploration of the World,” the fund to be held by Adventure and expenses of the various expeditions paid out of it as necessary. I do not favor Mr. McDonald’s idea of converting the cash into Canadian and Liberty bonds of the late war, for the simple reason that it does not help the Government now to buy them, and the yield on such issues is negligible when compared with many other bonds. I would suggest, instead, that they who handle this fund put every available dollar of it in tax-exempt municipal bonds of the highest yield to be found. Any of the stock and bond houses in Wall Street whose members belong to the stock exchange there will be glad to lay out a list of such securities, and such houses as I have mentioned could be relied on. Better still, let the National City Bank or the Guaranty Trust Com- pany handle the fund for Adventure with the as- surance that they use their own good judgmient as to investing the money, keeping in mind that it is to be put into securities that can be converted | into cash quickly in case it is needed for our work. I CAN readily understand why you do not wish to head the undertaking (I mean be responsible for the funds sent you), but I think you are the man who should head the committee that will do this. It seems to me that the question of where the moriey shall be sent is the first item in this big under- taking—and it is a big undertaking—that must be settled. We would be fooljsh to go ahead with other plans if we were not assured of the funds to finance them, therefore why not settle the question of the custodian of the funds right away? Could you not steal enough time some afternoon to see either the National City Bank or the Guaranty Trust Company (or any other bank that you might prefer) and arrange with them to accept deposits to the fund, giving proper credits and furnishing | MICLOOOKS C©