The controversy over the value of the Phi Beta Kappa key as a symbol of something more than excellent scholarship appears interminable. Several weeks ago in an article widely commented upon by the press. Mr. Gifford, president of the American Telephone and Telegraph Co--expressed his opinion on the subject. He found many move wearers of the key, proportionately, occupying responsible business positions that their less scholastic classmates. This view seemed a convincing refutation of a rather widely held opinion among business men that these who had won high standing in college were not apt to be particularly successful in business.

But just as soon as our Phi Beta Kappa candidates were taking hope that after all there might be something more attendant upon membership in that exclusive society than the mere privilege of dangling another gold charm on the watch chain, along comes Mr. T. W. Slocum. New York financier.

Writing in the Harvard Advocate, he expresses the belief that at meetings of prominent alumni there is a dearth of Phi Beta Kappa men Key men, he says are likely to disappear but he doesn't give us any information as to the where abouts of this Part of Missing Phi Betes.

Mr. Giferd knows where some of then, are and it has been pointed out that quite a few ate listed in Who's Who Perhaps they are too busy to attend alumni dinners.

Mr. Slocum admires the study required to earn membership in the society, but maintains that it does not promise leadership in business. This is no doubt very fine. An exceptional mind is not necessary to high executive positions. The point of the whole controversy seems to be that unusual mental power is one though only one of several factors of primary importance in business success. Personality and the ability to win over the confidence of others are equally essential but nevertheless the Phi Beta Kappa man has proven that he has one at least of these necessary qualifications. The Daily Princetonian