The Bismarck Tribune Newspaper, May 9, 1931, Page 3

* Local Man Says Argument Is E BISMARCK TRIBUNE. SATURDAY, MAY 9, 1931 LAHR GIVES VIEWS ON INVESTMENT IN TRUST SECURITIES Raging on Two Different Types of Offerings ‘With two different forms of fixed- trust shares being offered in the mar- ket and increasing popular interest in this form of investment it is becom- ing daily more necessary for the in- vestor to know the principles upon which they operate, F. A. Lahr of the Investors’ Mortgage Security com- pany, said Saturday. The local firm is distributor in this territory for Cor- porate Trust Shares, one of the lead- ers in the trust investment group. Because they make it unnecessary for the small investor to put all his eggs in one industrial or commercial basket, the trust-share form of in- vestment is becoming more popular and sales of fixed-trust issues have been advancing rapidly despite the current sluggishness of the general security market, he said. ‘The fixed-trust is one in which the stocks upon which the issues of trust shares are based are always the same and not subject to change at the dis- cretion of the managing company. They represent an interest in a spec- ified number and definite selection of underlying stocks placed by the depositing company in the hands of a trustee for the duration of the trust. The market value of the trust shares varies with the value of the shares upon which they are based but gen- erally are steadier because of the fact . that not all classes of shares rise or fall in the same proportion. The argument which now is raging regarding the operation of these trust is one relating to their method of operation. On one side is the “maxi- mum-distribution trust” which re- turns to the trust shareholders the greatest possible dividend on his in- vestment. Whenever’ a stock-dividend or other accretion is made in the stocks held by this trust, the excess shares are sold and the proceeds dis- tributed to the shareholders. Several of these trusts have succeeded, ove! @ period of years, in making a sur- prisingly high return to their inves- » Lahr said. In the case of the cumulative trust, however, the aim is to offer an invest- ment which will pay a moderate divi- dend but which will, at the end of a specified period, show an increase in capital value. Stock-dividends and other unusual accretions are held in the trust and the proceeds are not distributed until the end of the trust Period. In purchasing investment trust shares, Lahr said, the question which each individual must decide is wheth- er he wishes to purchase a security which will remain approximately standard in value but which will yield a high return or one which will pro- duce a more modest return but which is more likely to appreciate in value. The holder of the distribution type of trust shares, may, if he wishes to’ do so, reinvest his excess earnings in additional shares, Lahr pointed out and thus reap the benefits claimed for the cumulative type. At the same time, he has access to more money if he needs it for current use. Thus he has the option of putting back into investment channels all, part or none of his proceeds. It would appear, Lahr said, that the holder of the maximum-distribution type of trust shares is not only in Position to reap larger immediate re- turns from his investment but to add to his holdings by re-investment if he chooses to do so. Winona Mayor Urged To Appeal Decision Winona, Minn., May 9.—(?)—By a vote of 203 to 23, Winona voters Fri- day night at a mass meeting called by Mayor Mat Wagner urged him to appeal to the supreme court from the decision of Judge F. W. Senn, Waseca, who declared his election annulled because he distributed eggs for one cent a dozen, violating the state cor- Tupt practices act. ‘Wagner said he was undecided about the appeal and supporters said they would advise him not to take an There was a bigger smile than missed charges of incompetence an by the city affairs committee of New York. city hall after he had learned the good news. CHARGES KILLED, telco cone INCREASE IN GRAIN ‘Associated Press Photo usual on Mayor James J. Walker's face after he was informed that Gov. Franklin D. Roosevelt had dis- id neglect of duty filed against him Here is Walker leaving BETTER OILS HELD AUTOMOBILE NEED Lubricating Engineers Doing! Their Share to Aid Motor Performance Finer oils and gasolines are neces- sary to keep pace with improvements r|42 automobile engine design, accord- ing to R. D. Wigley, Bismarck rep- resentative of the Alemite company, whose firm has announced a new and improved oil for lubricating high- speed engines. “Automotive engineers have left no stone unturned in their search for improvements and they continually are striving for finer performance,” Wigley said. “As a result they already have developed high-speed, high-com- pression engines which are a big ad- vance over those of 10 years ago. “But the burden of better perform- ‘ance of automobiles does not rest on the engine designers alone. The lub- ricating experts have their share of problems. They realize that long life, smoothness and flexibility of opera- tion of these modern motors depends upon the proper lubrication of every part, and yet there has been little change in the processing and produc- tion of motor oils. On the other hand, the refining companies lost no time in the development of new and better gasolines. “Alemite engineers determined to develop a new type of motor oil to, meet the changing trend in motor | design. An exhaustive search in the oil markets of the world failed to re- veal any motor oil which they felt would do. It takes more than good cloth to make a good suit of clothes, but even the most expert tailor can’t make a good suit out of shoddy. Ale- mite selected Pennsylvania grade crude, which is considered by author- ities to be the source of the finest oil. “Then began the development of a Process of refining an oil that would satisty the requirements of modern automobile engines as no other oil could. Ten years were spent in ex- haustive research and experiments, tests in laboratories and on the open road, under a great variety of climatic conditions. “The result is an utterly new type of motor oil because the Alemite pro- cess preserves the carefully balanced structure of 100% pure Pennsylvania crude. A rugged, full-bodied, extreme- ly ‘oily’ oil which retains its lubricity under the most severe service, is produced. It seals in piston power, protects bearings with great etficlency and has a remarkable heat resis- appeal but to use the funds raised at! tance.” @ meeting to force upon the city coun- cil a special election. Fire Causes Small Damage in City Defective wiring is believed to have caused the fire which broke out in the attic of the residence of Ex-Gov- ernor Walter Maddock here early Saturday afternoon. According to firemen, little was done, the fire having burned it- self out before the arrival of the fire department. Dramatic Students In Fargo Contests Miss Pearl Bryant, English instruc- Members of the cast who will pre- sent a one act play are the Misses Luby Miller, Marjorie Ackerman, Ethel Sandin, and Eliza oe “wil i é gERE Reg Ege ! e.' It is said that leading lubrication authorities report that this modern oil adequately meets the newly real- ized lubricating Fequirerenta of mod- ern automobile motors. N. D, Superintendents Plan Summer Meeting Grand Forks, N. D., May 9.—(?)}—A summer conference of North Dakota county superintendents will be held in Williston for a week in August, Ei- roy H. Schroeder, Grand Forks coun- ty superintendent and president of the state association, announced Fri- | day. Plans for the convention were dis- cussed in Fargo by Mr. Schroeder and Bertha R. Palmer, state superintend- one of public insruction. ‘Two purposes were cited by Mr. Schroeder. New educational laws enacted by the North Dakota legisla- ture at its recent session will be dis- cussed, and a change in accounting systems for school districts will be ex- plained. Employment Chief to Work in Grand Forks Fire Alarm Box ones Grand Forks, N. D, May (PA boy with a desire for a package of gum plus the urge to operate a slot machine brought out the entire north side Grand Forks fire department Friday. Albert Bragg, nine, Hamilton, was standing at a downtown cor- ner. He had a nickel and wanted gum. He dropped the nickel in what he thought was a slot ma- chine and pulled the little lever. No gum. He walked away. Came the brave “pompiers.” But where was the fire? Chief James Black searched in vain. Examining the alarm box, he found a coin. Little Albert still wanted his gum, but the sight of the shiny apparatus made him forget it. He tapped the chief on the shoulder. “Where's the eee he wanted to know. Suspicious, the chief countered: “Who pulled this lever?” “I did,” said Albert. “And 1 want my gum!” Students Are in Jail Awaiting Prosecution Ann Arbor, Mich. May 9.—(?P)— Three University of Michigan medical students were in jail Saturday, two charged with resisting officcrs and violation of the prohibition law. Lyman A. Brewer, 23, Toledc, Ohio, f Boy Puts Coin in | e the prohibition law and resisting an officer. Gordon Lamb, 23, whose home is ; Said to be Alma, Mich., faces charges of driving while drunk, prohibition law violation and resisting an officer. John P. Ottaway, 24, Port Huron, Mich., is held for investigation. Their car collided with a truck early. | Will Bring Feeder Lambs Into State Fargo, N. D., May 9.—(?)—Agricul- tural development agents of the Great Northern and Northern Pacific railways are making arrangements for another great influx of feeder lambs from the Montana ranches, it was reported to North Dakota county agents at their banquet here Friday night by A. J. Dexter, representing ‘Wagner, of the Great Northern. Both said last year’s results were, on the whole, satisfactory and pre-; dicted even larger numbers of lambs will be fed this year than the record number stopped in transit and fat- tened for market last season in North Dakota and northern Minnesota. Bismarck Shoe Hospital We Rebuild We Do Not Cobble We Resole with “K. L.” Leather Burman’s Shoe Hospital Service and Quality 107 3rd Street 211 4th Street Next te Bismarck Hotel Grand Forks, N. D., May 9.—>)}— the | first report for June. brother and of James Madison. ‘Mississippi has 203 plants handling | iwilk and cream for making butter ® and cheese, i a third-year student, is chargea with | jbeing drunk and disorderly, violating | the Northern Pacific, and Paul ©, ©. / STORAGE CAPACITY AT MARTS REPORTED Facilities for Handling 40,000,- 000 More Bushels Put Into Use Washington, May 9.—(P)—An in- crease of more than 40,000,000 bushels in storage capacity at 14 of the coun- try’s largest grain markets was re- ported Saturday by the agriculture department. Concern has been expressed that insufficient storage space would be available July 1 when this year’s large crop moves into the market in view of the large grain stocks held by the Grain Stabilization corpor- ation and other agencies, The department said a survey showed a rated storage capacity of 343,595,000 bushels April 1 at these 14 markets as compared with 301,859,000 July 1. Despite this increase, how- ever, the stocks of grain in store were said to have also increased with the result that the unfilled space avail- able on May 1 was approximately the same as that of a year ‘ago. The grain stabilization corporation ‘announced a week ago it iio toid'on sold an amount estimated at 20,000,000 bushels. A warning was issued by the de- partment in March that unless, United States producers Sy itey their wheat production sharply because of lack of storage. Chair- man Stone of the farm board, how- ever, expects no difficulty along this line. The board probably will have upwards of 200,000,000 bushels of wheat in storage before July 1. The largest amount of new con- struction was reported at Minneap- olis, Duluth, Omaha and Milwaukee. Kansas City and Chicago were said to be the only large markets where very little elevator space has been added since last July. At Kansas City, however, a new 2,500,000-bushel elevator is being built and 6,000,000 to | 10,000,000 bushels more space is ex- pected to be added before the new crop moves. At Enid, Okla., an important mar- ket not included in the survey, & 1,000,000 bushel elevator is under construction while new elevators to- taling 12,000,000 to 14,000,000 are ex- pected to be built soon at principal terminals. | Ask Public to Attend Fort Lincoln Parade Bismarck persons who thrill to mili- tary ceremony and the tramp of marching feet are cordially invited to attend the full-dress battalion re- treat parade held each Thursday eve- ning at Fort Lincoln, Lieut. Col. Wal- \lace McNamara, commandant, an- |mounced Saturday. The time set for the retreat is 5 p. m. At the retreat ceremony last Thurs- day the members of the pistol team |of Company M were awarded marks- ‘manship medals. This team won jthird place in the .22 caliber pistol j;match of the National Rifle Associa- tion in which many teams compete each year. This is the second time jthat the Company M team has won third place in this competition. Captain R. R. Tourtillot, himself, a distinguished marksman with both rifle and pistol, is a member of the team and its coach. Other members are Sergeant George Watschke, and Corporals Herman A. Heckel, Earle J. Bushousen and Joseph Markus. TO LEAVE FORT LINCOLN Transfer of Lieut. George C. Wil- lette, now stationed at Fort Lincoln, to Fort Benning, Ga., where he will attend the company officers course was announced Saturday at the local army post. Lieutenant Willette, who has been stationed here since Sep- tember, 1928, expects to leave for his new assignment late in July. == Worn-out spark plugs waste gasoline Every time you try to get more than10,000milesonasetofepark plugs, you start buying extra gasoline. Buy a new set of ACs instead. You save gasoline, mn AC saab Change your spark plugs every 10,000 miles teeman SETS NEW WORLD RECORD bee BUOY’S VIOLET, fourteen-year-old Guernsey cow, makes 17,236 pounds of milk and 959 pounds of butter fat in year's test started April 2nd, 1930, and completed April Ist, 1931, setting new world record for roduction, all breeds included, Pure bred dairy cattle are vocation with her owner, noted chain store merchant and agriculturist who says, at her age. . Penney, ‘Dairy cows are manufacturing plants and purpose of breeders should be to de- ‘Washington, Mrs. Payne; from DS velop and maintain continued economical high production.” HOOVER WILL WORK INSTEAD OF FISH would be forced into export fied President Arranges Conferences With War Department Heads at Rapidan May 9—(#)—Presi- dent Hoover intended Saturday to deal with facts and not fish at his ‘Rapidan, Va., camp where generally he finds recreation over the week- ena. Instead of whipping a line over the Rapidan river, Mr. Hoover had ar- ranged conferences with Secretary Hurley and the heads of various branches of the war department. Spe- cial attention was to be given to non- military activities of the department. In addition to President and Mrs. Hoover and Secretary and Mrs. Hur- ley, the list of guests for the weck- end included Assistant Secretary and General MacArthur, chief of staff; Major General Mosely, assistant chief of staff; the Chief of Army Engineers and Mrs. Brown, the uartermaster General and Mrs. De ‘Witt; Chairman Wood of the house appropriations Kinsley, Republican national commit- and Mrs. committee, Vermont, Joslin, and Lawrence Richey. branches. Heavy Fog Paralyzes Ambrose channel. collided in the channel. damaged. her pier. Kinsley, Theodore Joslin and Mrs. New York’s Shipping New York, May 9—(?}—A heavy fog over New York harbor Saturday paralyzed shipping and caused a mi- nor collision between two liners in ‘The Majestic, with 539 passengers ready to sail at midnight, was held at |AGRONOMIST HOLDS ALFALFA MEETINGS AT BURLEIGH FARMS E. G. Booth Stresses Need of Well-Packed Ground for Successful Stands Three alfalfa meetings were held in the county this week under the di- rection of E. G. Booth, agronomist of the agricultural college. Demonstrations were made at the J. M. Burch farm in Missouri town- ship, at the Apple Creek ranch own- ed by the Patterson Land company, and at the L. E. Heaton farm south of McKenzie. At each meeting Booth dwelt on | the prime importance of well prepar- | ed seed, stating that proper prepara- | tion of seed was the most vital factor in successfully putting in a crop. The first demonstration was con- ducted at the Burch farm on bottom land. Part of the tract was sowed by broadcasting small grain after the soil was well packed. Another por- tion was drilled with flax. At the Apple Creek ranch old al- falfa ground was plowed and then packed by using a packer behind the The study of war department prob-| tractor gang. Following this it was! lems was the first of a series to be| disced and packed twice again after held at the Rapidan on policies af-| which it was drilled. Booth explain- fecting various governmental) ed that this procedure resulted in a good seed bed which contained a good moisture content. At the Heaton farm the land was first plowed to kill the weeds. After the tract had been double disced an alfalfa driller was used. At this demonstration inoculation was used. Booth said that well-packed ground The liner Conti Biancamano and the Eastern Prince, both outbound, The Eastern Prince radioed that its bridge and su- perstructure had been damaged, but it would proceed on its voyage to South America. The Italian liner was un- clothes sai ae to measure M. BORN & CO. Chicago John Henlein jor and Cleaner Local Representative Patterson Hotel Basement Earle CITIES SERVICE COMPANY Stocks and Bonds We have a direct connection with Henry L. Doherty & Company of New York, for the sale of the above securities. NOW IS THE TIME TO BUY! P. C. REMINGTON & SON The Pioneer Investment House - THE NEW OLDSMOBILE is the LOWEST PRICED CAR WITH THE Bismarck, N. Dak. syncro-mesh transmission: 100 West Broadway DSMOBILE Proouvucrt oer S@ENERAL afl Fleck Motor Sales IN Phone 55 worTrors money all of your city suffers thereby. “If you really are anxious to improve business in your city, pay up all your current bills.immediately so that others can pay you.” Pay Your Bills Promptly and Aid in Your City’s Progress and Development! Bismarck-Mandan Credit Bureau, Inc. Where Your Paying Habits Are Being Recorded Soldier Nine Will Clash With Driscoll to Lieut. L. Trotter, who is in charge. The probable lineup of the Fort ‘Lincoln aggregation follows: Hagen, catcher; Walling or Leitz, pitcher; Hemmer, first base; Becker, second base; Simonson, third base; Cassidy, shortstop; Murgitroydel, left field; Holcomb, center field; and Dunne, right field. Farm operators’ earnings per mule tn South Carolina were $405 as com- pared with $143 in 1914. CAPITOL THEATRE Daily at 2:30-7-9 35e¢ until 8 p. m. “This Looks Like a Snappy Number,” he said, and then but you'll have to see “Night Work” to appreciate the clean whirlwind fun and tender romance of it! See it now! Monday - Tuesday “The Four Star A. H. WooDs’ atage play The Biggest Laugh Hit of the Season | BABSON Says “Credit is like the blood circulating in your veins, Anything which retards the flow of credit harms the business body. Hence, when you owe Sohadntndint