Below 85?

In Sangamon County, Ill. where a tall, gaunt Republican lawyer once practiced his profession, another tall Republican lawyer today collects Lincolniana. His name is Benjamin Savage DeBoice. For five years Lawyer DeBoice has served as probate judge in Sangamon County. He helped to send Springfield's ex-Mayor John S. Schnepp to jail for embezzling money from an estate, won a high reputation for strict, conservative decisions governing administrators of estates. To a Springfield trust company which asked his permission to invest the funds of seven estates in U. S. Government bonds--most famed of all conservative investments--he last week gave a blunt "no." Said Probate Judge DeBoice:

"During this period of business uncertainty and lowering prices the investing public has turned to Government obligations as a cyclone cellar in which to place investments. ... In view of the fact that the national debt is today almost $29,000,000,000, the highest point in our history, we may safely say that there is a greater saturation of investments in Government bonds-among our people than ever before. Just as soon as the rank & file of our people become convinced that we are upon the eve of a period of inflation ... we will witness a repetition of the experience of the early 20's, when Government bonds sank below 85 under similar conditions."

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