John Emmett Kirshman (A. W. Shaw) is a comprehensive and well organized analysis of the actual working principles involved in investing both industrial and institutional funds, and their application to securities of governments, corporations, municipalities, and states. After a discussion of the elementary concepts of investment, the leading forces in the supply of and demand for capital funds are necessarily discussed, and a very interesting analysis of the element of credit as applying both to principal and income is presented. A useful chapter discusses the theory of market fluctuation and ensuing changes in security prices; diversification of investments receives special treatment. author is professor of finance at the College

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M. S. Rukeyser, the financial editor of the New York "Evening Journal", has written "The Common Sense of Money and Investments" (Simon, Schuster). It is an explanation of money from the standpoint of the average individual, and an explanation of its uses as applied to saving, spending, earning, and investment. As a layman's book, dealing with an interesting and complicated phase of our economic system, it has value. really a case system book, for it explains by means of many practical illustrations. The individual curious regarding the meaning and uses of money will find it useful. It contains as an appendix a carefully prepared set of personal record forms which can be of utility.

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"The Investment Trust" by Lawrence M. Speaker (A. W. Shaw) is a concise study of that organization, the business of which is the judicious investment of its capital. The aim of the investment trust being to secure relatively high yields for the small investor with a minimum of risk, this manual accordingly seeks the explanation, and discusses investments and market operations. All the important factors in the successful operation of the investment trust are definitely presented. The far reaching authority of the directors is explained, as is the method of earnings distribution, expenses of management, and securities analysis. The progress of the investment trust in the United States is given. - J. G.

IR

RWIN EDMAN is a young professor of philosophy at Columbia University whose lectures and essays have been making an impression for several years. His "Richard Kane" articles, analyzing a thinking and struggling young American, which have been appearing in "The Century Magazine", will be published as a book next autumn. MARION M. BOYD, whose book of verses "Silver Wands" was published as one of the Yale Series of Younger Poets, makes her home in Oxford, Ohio. FABYAN MATHEY is a young Princeton graduate who lives in Cranford, New Jersey, where he is writing poems, short stories, and plays with ambition and determination.

GEORGE S. HELLMAN, whose discovery of unpublished journals, plays, and letters of Washington Irving has led during the past ten years to the publication of no less than ten volumes, has in his biography of Irving not only drawn upon the material previously edited by him but has further enriched his Life of Irving with a great amount of new data from hitherto unpublished Irving manuscripts in the Department of State, the Library of Congress, the New York Historical Society, the New York Public Library, and the archives of the Irving family itself. Born in Irving's native city of New York, to which Mr. Hellman's family came during the presidency of Irving's friend Martin Van Buren, and spending many of his youthful summers at Irvington, imbued with the traditions and temperamentally in sympathy with the character and personality of Irving, Mr. Hellman has been well qualified to make of his biography a work of love as well as of scholarship. Departing from the path wherein previous biographers have closely followed the steps of the first biographer, Pierre M. Irving, Mr. Hellman has sought to portray without over-sentimentalizing, and

with new emphasis on Irving's achievements, the delightful man, the famous author, the effective statesman who was our "Ambassador at large from the New World to the Old".

DU BOSE HEYWARD has retired from his business in Charleston, South Carolina, and is devoting himself entirely to writing. His "Skylines and Horizons" (Macmillan) was one of the distinguished volumes of poems of the year. His "Porgy", a remarkable study of Negro life in Charleston, is to be published in the autumn. Much of his time recently has been spent in lecturing before various clubs throughout the country. GAMALIEL BRADFORD, the psychographer, is living in Wellesley Hills, Massachusetts. It is not often that he turns from his biographical portraits to poetry, but his fine lyrical gift burns steadily when he so does. His "Bare Souls" (Harper) and "Damaged Souls" (Houghton Mifflin) have been exceedingly popular in these days when biography is constantly becoming more and more the vogue. JAMES ASHMORE CREELMAN, the continuity writer, has just returned from France where he spent some months of vacation and of quiet writing. ARNOLD PATRICK comes into town just often enough to do his interviews, otherwise he persists in hiding in the most out-of-the-way corners. Although he is writing, he refuses to divulge exactly what is the character of the great work he is producing. ROBERT ROE writes from California that he is very busy on a new job, and that he spends most of the rest of the time admiring his young daughter, Camilla.

Every metropolitan newspaper keeps a "morgue" (files of biographical material which it may or may not want to use in a hurry). The morgue on GEORGE W. ALGER, the New York lawyer, discloses a decidedly Jekyll and Hyde character. The yellows have him as "the brains of the Milk Trust",

whatever that may be, with an explanation of why that elusive monster is unwhipped by the law. The Hearst papers a few years ago printed, as conclusive evidence that Governor Smith was unworthy of public confidence, the charge that he not only knew this bad man, but had elevated him from his natural iniquity into a job as counsel for a state commission, to investigate the state prisons, and to sift charges filed against the superintendent of a hospital for insane criminals. The fit-to-prints find Mr. Alger a mild eyed publicist: an officer of the City Club; on the board of many charities, and for many years an occasional contributor to that most respectable of our magazines, "The Atlantic Monthly". The morgue shows him to have been a long time friend of T. R., and that the late Samuel Gompers recorded appreciation of his fairmindedness and clearness in stating the legal problems of labor.

JOSEPH COLLINS has been playing golf and shooting in the south, and writes that he has enjoyed basking in the sun and warmth. He expects to return to New York City and work before the month is out. His "Taking the Literary Pulse" (Doran) was the latest of this doctor's speculations on life and literature. CHARLES HANSON TOWNE of the American Play Company is as much a diner out as ever this winter, and one hears of his clever remarks from coast to coast. GRANT OVERTON writes us from "Collier's Weekly" that he has never enjoyed any job so much as that of fiction editor to that publication. His particular effect on the magazine, we judge, will not begin to be apparent until the April 11 issue. Mr. Overton has recently gone south to spend a weekend with Ellen Glasgow, about whom he will soon do one of his pieces for THE BOOKMAN. HELEN ANTHONY is a native of Connecticut who was graduated from Mount Holyoke College. She is teaching in Massachusetts and working on several books. We hear that she has red hair. This fact may be irrelevant, but we don't think so. JOSEPHINE PINCKNEY of Charleston, South Carolina, has long been known to readers of poetry magazines. She is an able critic and a good poet. At present she is traveling in Europe.

EDWARD WASSERMANN, born in New York

City in 1896, received his degree of A.B. from Yale, class of 1918. Before getting his degree, however, he served for three years with the American Expeditionary Forces, and it was during his days in France that he became a great friend of Anatole France. Mr. Wassermann, who is in the brokerage business, has always been a lover of literature, especially French literature, but his paper in the present issue of THE BOOKMAN is his first appearance in print. LOUIS BROMFIELD has completed the manuscript of a new long novel dealing with a woman genius, which will have September publication. ERNEST BOYD has been writing, among other things, a very interesting series of articles for "Harper's Magazine" in which the classics are discussed from a modern viewpoint. His "Portraits: Real and Imaginary" (Doran), containing the famous essay, "Esthete, 1924", has received much favorable press comment. This essay and Mr. Boyd's critical life in general were recently pilloried by some of the self styled young æsthetes in a magazine published apparently for that purpose alone, "Esthete, 1925". Mr. Boyd seems to have survived the catastrophe.

RICHARDSON WRIGHT, the editor of "House and Garden", is one of the best writers of the light essay in the country, in our humble opinion. His last collected volume was "A Small House and Large Garden" (Houghton Mifflin). CHARLES R. WALKER, author of "Steel" (Atlantic), associated with "The Atlantic Monthly" and "The Independent", is living at Concord, New Hampshire, this winter and devoting himself entirely to writing. LUTHER E. ROBINSON is professor of English in Monmouth College, frequent lecturer on English and American literature, and a contributor of book reviews and articles to the magazines. Among his published volumes are "A History of Illinois" and "Abraham Lincoln as a Man of Letters". Professor Robinson is spending this year in Washington, at the Library of Congress, finishing two volumes on phases of American literature. WILL H. SOLLE is a famous and charming bookseller at Kroch's store in Chicago. If there is anyone in the United States more informed on books, he or she is lurking in an obscure corner.