Money

Of all the unknown factors in the 1928 campaign--intolerance, hypocrisy, appetite, snobbery, conservatism, magnetism, pocket-nerve--none is more incalculable than the possession, for the first time in history, of a competitive campaign fund by the Democratic Party. Up to Sept. 30 the Republican fund reported was $1,460,834. The Democratic fund as of October 15 was $2,753,192, of which $2,555,353 had been expended. Both parties expected to spend at least $4,000,000 before the fight was done.

The sources of the Democratic fund will, especially in the event of Smith's election, be closely scrutinized after Nov. 6 by the Congressional committee appointed for that purpose. The list of donors up to last week was interesting in itself.

The largest donor was Nominee Smith's friend since childhood, William F. Kenny, multi-millionaire contractor of Brooklyn, N. Y., owner of the private car St. Nicholas on which the Nominee has toured the country. His donations totaled $120,000.

Second largest donor was National Chairman John J. Raskob. Since Oct. i he had doubled his original contribution of $50,000. In addition, at a party benefit auction last week, Mr. Raskob paid $10,000 for a fine-printed copy of the Smith acceptance speech--a gift for Mrs. Smith. Presumably it is impossible for Chairman Raskob to distinguish between what would be his normal personal expenses and the miscellaneous outlay that he must make personally in the course of running the campaign. Perhaps he has thus informally contributed more than anyone else.

Notable in last week's announcement was the name of Alexander Smith Cochran, lifelong Republican, carpetmaker of Yonkers, N. Y., third husband of Mme. Ganna Walska (at present Mrs. Harold F. McCormick), once famed as "the world's richest bachelor," founder of Yale's literary Elizabethan Club. He gave $10,000.

Also noted was: "Richard Croker Jr., $3,000." Mr. Croker is the son and namesake of the late famed Boss Croker of Tammany Hall. His name on the list brought mingled memories: of Tammany iniquities; of the family fight for Boss Croker's $5,000,000 estate; of a Croker son who killed himself racing automobiles; of another son who died from smoking opium, on a train, near Emporia, Kan.; of a Croker daughter who married an Italian count and another who married a riding master; of Boss Croker's second wife, a Cherokee princess; of the Croker race horses, bulldogs and Irish estate. Boss Croker set Richard Croker Jr. up in business with $150,000 and gave his other children $4,000 per annum each. They tried to prove him crazy, to get more. Boss Croker died in 1922.

Another provocative item was, "Loans: Oct. 11, 1928, through County Trust Company, 15th Street and 8th Avenue, New York City, $500,000." Chairman Raskob explained, correctly, that "it has been the practice in recent campaigns to resort to this procedure when expenditures run ahead of receipts, as they usually do." The size of the loan thus frankly announced was, however, sensational. To finance the deficit of the 1920 campaign, the Republican party made loans of $600,000 and $167,000 through the Empire Trust Co., of Manhattan.