CHICAGO, June 9.--At the end of the second day of the Republican National Convention, "the Old Guard" is firmly in the saddle. Lodge has been confirmed as permanent chairman and the enthusiasm which was lacking on the first day has grown to big proportions. Feeling between the Wood-Johnson delegates has reached a high level, with cries of "Hiram" coming from all parts of the floor.

The general opinion among impartial observers here is that neither Johnson, Wood or Lowden can be nominated. Both Lowden and Wood have the record of their campaign expenditures against them, while Johnson is too radical and has taken a too extreme attitude on the League of Nations to satisfy the majority of delegates. Out of this chaos the Old Guard must pick a man. To all appearances Senator Knox will be a likely choice.

League to be Issue

If the convention leaders can push it through, Lodge's stand on the League of Nations as summed up in his keynote speech and backed by the speech of Chauncey M. Depew, former senator from New York, will be adopted as a campaign issue. Opposition to the convention leaders will be in the main from the liberal group on one hand and the Johnson group on the other. Indeed, many delegates, objecting to the reactionary tone of Depew and Lodge, stood up in their seats and shouted for Beveridge to speak. In response, Lodge stated that he would present him tomorrow.

Hoover's Chance Lost

A factor in the convention is the liberal group. It looks to me at present as though those delegates are likely to unite behind Hughes rather than Hoover. Hoover seems to have little chance.

After the first battle of delegates for Lowden, Wood and Johnson there will be, it seems likely now, a contest between Hughes, Johnson and Knox. Knox is the most apparent compromise. If this latter contest results in a deadlock there is a potent chance for Coolidge or some other man who is little known and has made few enemies.

Speeches Appeal to Prosperity

Today's speeches were filled with vindictiveness for Wilson and appeals to traditional prosperity which has accompanied previous Republican Administrations.

Today's work was brought to a close today with the passage whereby southern state delegates, unless they represent at least 750 Republican voters from congressional districts, will be excluded from the convention.