Evening Star Newspaper, October 28, 1926, Page 29

BUSINESS AGTIVITY SHOWS SOME GAIN Reserve Board Reports In- crease in Trade and Advance in Wholesale Prices. The Federal Reserve Board night reported for the month of Sey tember trade activity and an advance in the el of wholesale prices. e price of cotton, it was said, “has declined sharply within recent weeks, while prices of most groups of commodities have advanced.” Volume < credit was said to 3 seasonally, and ained firm.” industrie: employment and pa; according to the Federal Re- serve Iloard’s indexes, ‘after chang- ing but little for about four months, 1 in September to the high- nts since last Spring increase has been particu larly la In_textile mill activity Consumption of cotton has Incre: conside rly, woolen mill the largest since January ployment Increased in nearly an increase in indnstrial and | S | vesting public a = | MEN AND MONEY By M. S. Rukeyser (Covyrizht. 1926.) Labels are a delusive guide to the investment merits of investment se- curities. High-sounding _phrases, including the expression first mortgage, some- times cover up structural weaknesses in bonds. Although good first mort- gage real estate bonds are among the best investments available, many haz- s issues, cloaked in the name of have been created in recent vears. The time has come for extra- |ordinary discrimination in the selec- | tion of ‘issues. As a result of the boom in real es- | tate construction, the sale of real es- tate securities has increased 1,500 per cent since 1914—from $50,000,000 a year to more than $750,000.000. Ten per cent of the total investable cap- ital placed in new securities of any Ikind in the last full calendar year |flowed into the real estate bond | market. | In emphasizing the need of care on the part of investors, I presented the advice two days ago of an able invest- ment banker, who creation of real I present the J. Kenner, manager of the Better Business Bureau of New York City, | who warns against evils which have |crept into ¢he business. “Both the financial world and the in- > alert now to ills which have for a number of years af- fected the creation and distribution of branches of the textile industry. Iron and steel production was maintained from early in part of October at than for the corresponding period of previous years, Automobiie Output Smaller. Automobile output was reduced in September but continued larger thar. ar ago Mining of coal has steadily increaskd since Midsummer, and the weekly run of crude petro- leum from wells in October reached the highest since June of last vear. Building contrac varded during August and were only slightly smaller in value than the awarde for the corresponding period of last veur and in the first half of Octoher far exceeded those of a vear 3 A substantial decline in con- iracts for residential str s has heen largely offset increases in | awards for indus ineer- October 18 1 cotton production at 17, fnerease of about three- | of a million over the esti- " said ed in was slightly larger than las Inventories of de- partine tncreased slightly more than ‘s usval in September. and at the eand of the month were in about the same volume a year | ago. Railroad freight c londings reached new high weekly records in September. and shipments were maintained during the early weeks of October in much 1 volume than in previous years great part of the increase with last year, is due to shipments | of coal and ore, but loadings of manufactured commodities have also been larger. de Sentember as compared Wholesale Prices Advance. level of wholesale °d slightly in September notwithstanding the drop f tton to the lowest u of Labor lesale pr er in Sep- | flecting ad prices ad and Octol in the p level since 19 Statistics index of was about 1 per cer vances both in non-agricult recent ferrous clined, meats while prie voultry and dairy have and October the de- 1 a continued growth clal loans of cities. Loz in the commer-| banks in leading | curities and hold ings of inv s declined, but the bank's total ns and investm were about $60,000,000 larger tober 20 t 4 “At the of member considerable fluctuat to tempors conditi October at about the level as In Septel here wr change in the holdings of | United States while ac- | e holding: to in-| r a Ist of October, there has | ge in the condition of market. Rates on com- per and on ptances ned at the levels establish- ed in September.” sround the been little ch mone WOOL PRICES FIRM. BOSTON, October 28 (Special).— Dealers here were showing no ten- dency today to shade wool pr despite the pressure brought to bear by mills. Domestic wools were firmly held and spot foreign wools are not being shaded, notwithstand- tng the fact that the present un tainty originated in the for markets. Lower quo foreign wool received y here are for wool that cannot be de- ltvered until early next yes cal top market is firm on ume of busines; fair vol- The water of the Dead Sea has about 70 times the bromine content of ocean wate! Phillips’ Pharmacy, 2nd and Mass. Ave. N.W. Is a Star Branch Office If you have rooms for rent, or want to rent rooms, a Star Classified Ad will bring you the de- sired result. The Star Classified Section is recog- nized as the great want medium of Washington.and is carefully read for those can supply them. Located in practically every neighborhood, in and around Washington, is a Star Branch Office— above sign—where Classified .Ads may charged for this service; only bearing the be left. No fees are regular rates. The Star prints MORE Classified Ads every y than all the other papers here combined. di \\’nh RESULTS accord | needs | bankers, [ merchandise and buyers of securities real estate mortgage bonds. The publi rmed, even, and | has, ily at least, reduced its s due largely to re- resulting from G. L. Miller & lure which revealed that company’s practices. The Millex | company had attained a volume of | sales approximating $15,000,000 an- 1y, and was a large user of adver- tising ‘space in national mediums in which it featured the slogan, ‘No in- vestor ever lost a dollar in Miller bonds” The advertising also claimad ‘four distinguishing marks’ for Miller bonds: Tndependent appraisals, bank certifieation, moderate size loans and full inter . Investigation has indi- at the claim r independent 2 Is and moderate sized loans could not be substantfated in all in- stances. bl “Popu estate Co. f3 belief attributed to all real mortgage bonds about the rower on real estate’ has been gained in finaj with home-town bankers or loan associations. Skillful advertising | promoted sales easily by repetition of the vet the average pur- B e of the large ele- nt of speculative risk often pos- ed by the bonds so advertised. “The term bond, unless qualified, has always implied to the i mortgage lien on ph: erty with large equity ser margin of safety for holders of such should default of interest pay- make foreclosure necessary. But when the meaning of this term 5 retched by realty bond under- ues which inctuded s, and some- able equity, the 1S CTe d.” ] s views are amplified in l(hn- 1 Digest, published to- day. The public sometimes goes to ex- tremes, and it would be unfortunate, indeed, if knowledge of abuses upon part of certain houses would lead publi against real estate issues in gen ssue the investor banker, the nearest Better Bu Bureau or the finan- cial editor of his newspaper. First mortgages up to two-thirds of the genuine value of well selected real a high degree of invest- Real estate, though sub- t to fluctuations in market worth, s not go out of fashion. It does not deplete itself like a mine. It has not, in most instances, a limitation of carning power by public regulation bodies like the public utilities and the railroads. Mr. Kenner is an outstanding ex- pie of a new profession which has r nce the rise of the small iis role as the head of a orofitanaking organization, which s supported by voluntary contribu- tlons of reputable business men and to protect consumers of from exploitation by unscrupulous r. Kenner was secretary of the st Better Business Bureau in the country, which started in Minne- polis in 1911. The desire to elevate the generul tone of business is the flaming ambition of thi: the m of practics an indomitable bundle of ener v_and workable ideal- - The ORIGINAL Malted Milk A well-balanced, palatable, easily ase t nourishes and up- builds. Use at meals, between meals, or upon retiring, and whentired or hungry. Prepared at homebystirringthe pow- ‘ar in hot or cold water. No cooking with wants and those who THE EVENING STAR, WASHINGTON, D. C., PIGGLY WIGGLY Harndles all the rvands youlike best, p _ ism is the moving force behind the New York bureau. He is of medium height, has light brown hair, and vi- vacious blue eyes. He is young in years and In ideas. In his extra-legal role Mr. Kenner not only seeks out crooks in a legal sense, but also attempts to point out exaggerations and examples of false emphasis in advertising to respect- abie dealers, The arch foe of bucketeers and blue sky promoters is a modest, soft voiced individual, who is not trying to re- form the world, but merely to set up a_ technique whereby ordinary busi- ness men can carry out their own best, intentions. & Mr. Kenner insists on going after tha big offenders as well as the little ones. When an adviser raised the question of the practical wisdom of antagonizing powerful groups Mr. Kenner indicated that he would rath- er have the work prove to be a glori- ous failure than to succeed by means of winking at the offenses of big in- terests. THE BUSINESS OF GETTING AHEAD Habit Applied to Thrift. Self-deception is a shriveling force. The unsuccessful person ' usually has a record of countless promises to himself which have been broken. The sorriest spectacle is the thrift- less individual who believes that he will order his life more efficiently “later.” The time to lay out one’s life schedule is “now.” We are all creatures of habit, and our success, to a large extent, depends on how early we cultivate good habits. | The time to begin saving is when | vou first begin earning money. Most of your personal habits are formed before you are 20; most of your busi- ness and professional habits before ou are 30. As William James, the former Harvard philosopher, who had an extraordinary amount of common sense, observed: “It is well for the world that in most of us, by the age of 30, the character has set like plaster and will never soften.” Hard to Step Out of Character. What you will be depends upon what you are now. It becomes in- creasingly difficult later in life to step out of character. Quoting James again, “Habit dooms us all to fight out the battle of life upon the lines of our nurture or our early choice, and to make the best of a pursuit that disagrees because there is no other for which we are fitted, and it is too late o begin again. * * * The great thing in education is to make our nervous system our ally instead of our enemy. It is to fund and capitalize our acquisitions and live at ease upon the interest of the fund. For this we must make au- tomatic and habitual, as early as pos- sible, as many useful actions as we can, and guard against the growing into ways that are likely to be dis- advantageous to us, as we should guard against the plague. There is no more miserable human being than one in whom nothing is habitual but indecision, and for whom the lighting of every cigar, the drinking of every cup, the time of rising and going to bed every day and the beginning of every bit of work, are subjects of ex- press volitional deliberation.” How can you apply this wisdom of Special Baskets 807 14th St. Phone Franklin 5442 11 Stores in all ingly. “Around the Corner” Is a Star Branch Office Principal Cities of United States Centerpieces, *1.50 up Bunch “Mums,” 50c, 75¢ and $1 Doz. R WL Douglas ’I‘HERE is a maximum amount of style, comfort and protection in this medium broad, semi-soft toe oxford. «» «» The top grade, full grain calfskin upper, calf lined quarter, heavy oak tanned sole and genuine storm welt make this an ideal shoe for Fall and Winter wear, and rate it many points above its $7.50 price. STURDY SHOES FOR BOYS, $3.50 AND $4.00. Manufacturers and Retailers William James to your own financial program? The first suggestion is to make your thrift program automatic, taking your saving allotment from your pay en- velope before current expenses are provided for. | Developing Thrift Habit. | The thrift habit can be developed through voluntarily entering contracts to save specific amounts in a given time. An account with a well man- aged building and loan association, for example, will oblizate you to save $1 a month a share, if you select the most popular plan. Endowment in-| surance or the purchase of annuities from an insurance company will re- inforce your pilous impulse to save with the compulsion of an agreement | with an outside agancy. | The outstanding merit of the par-| tial payment plan for purchasing se- | curities is that it regularizes the dav- | ing habit. Unfortunately, only a few venders of high-grade securities en-| courage this system. Besides the few | good security houses that do, some | of the best public utility companies occasionally offer their own shares directly to customers on a time-pay- ment basis. Moreover, the Bell Securi- ties Co. reguiarly undertakes to sell to the small investor at current mar- ket prices the capital stock of the American Telephone and Telegraph Co. on the partial payment plan. It is better to go into debt for securities than for consumption goods. The widely known Christmas club plan of commercial banks is nothing but an attempt to make saving habitual. = . Argentina spends over $5,000,000 a sear fighting grasshoppers. ——————————— Special One-Day Excursions to Philadelphia and the Sesqui-Centennial 5490 Round Trip FRIDAY, NOV. 5 TUESDAY, NOV. 9 Lv. Washington. L...7:15 AML Returning—Leave phia (Chestnut Street Station), 8:45 P.M. (Standard Time). same day. Military. Aerlal. Pagentry and Other Spe- clal Events on the Exposition program. Ask Ticket Agents for Details Fresh cut, and in all colors, only B [T and Halloween FALL STYLE $5, %0 and ® Sl Good Values S v Storm-welt Special at $7.50 THURSDAY, OCTOBER 28, 1926. We celebrate NATIONAL APPLE WEEK from October 30th to No- vember 6th. In this connection ask our managers about the APPLE PIE BAKING CONTEST and also the ESSAY CONTEST for children in the uumowiz | 4 ppI S CAULIFLOWER We should eat them Fancy large white heads from some form every day. COOKING APPLES Each, 1 5c From Virginia Orchards Tomatoes . .. .21bs., 25¢ 10 Ibs., 21c Iceberg Lettuce. .head, 12¢ BAKING APPLES Kale.........2Ibs,15¢c Spinach........Ib, 10c’ Large Size Staymans SWEET POTATOES Western Jonathans Nearby “Nancy Hall’s” Very Fancy Box Stock 51bs., 12¢ 10 Ibs., 23¢ 2 lbs., 15¢ 10 Ibs., 59¢ SUGAR 100-Ib. Sack, $5-80 CANNED VEGETABLES AT SPECIAL PRICES PEAS TOMATOES CORN We have a large assortment and can Finest Virginia Pack In the small No. 1 cans, we offer— suit you both as to quality and price. No. 2 Cam, 3for......25¢c o B Sweet, Can . ...10c Red Goous Easly Jane No. 2% Cans, 2 for. ... .25¢c L::!l;.Alic:f(’:an....‘.IZc Can, 15¢ 2 for 25¢ - Red Creek, Can ......14¢c Lady Alice Extra Sifted ASP ARAGUS Conqueror, Can...... 9¢c No. 1 Can’ 17¢ 2 for 30(: m;lv'h;aglofular Del Monte brand. All No.2Can, 23c 2 for 45¢ Picnic Tips, Can......20c Sunset Gold Petit Pois Square Tips, Gan. . . ..35¢c _Can, 28¢ 2 for 55¢ | MammouthWhite,Can, 35¢ Del Monte, Small Size CONCORD GRAPES Buy them now! is almost over. Basket, 1 9c Celery .......stalk, 10c Cranberries. .2 lbs., 25¢ Cocoanuts . ..each, 10c Lemons . . ...dozen, 20c POTATOES —the best U. S. No. 1 stock. 5 lbs., 19¢ 10 Ibs., 37¢ The season in American Sugar Refining Co.’s best cane granulated. Plenty of it in all our stores. In the No. 2 size can— Monocacy Valley, 2 for 25¢ Blue Bell, Can.......14c Conqueror, Can. .....14c No. 2 Can, 23¢c 2 for 45¢ Heart of Maine, Can. .19¢ PILLSBURY FLOUR 12b. Sack 3¢ BUTTER | EGGS | BACON | CHEESE Our “Sunset Gold” is Closely candled, every egg anfi(rsz{x:ifa;z }:?lcf-;glr:zgnng packed specially for Piggly | guaranteed, they are packed tons. Wiggly Stores. It is the fin- | in cartons for your conven- 3 % Lb., 23¢ est of fresh creamery. ience. machine in even strips. AlRssican oo Pt Pound, 51c Dozen, 510 Pound, 47c 1% Pound, zoc FRESH MEATS and FRESH FISH Can be obtained in 27 of our stores. There is one near your home where you can get the best meats at right prices. : Prime RibRoast, Ib.,35c | Fresh Hams. .. .Ib., 35¢ | Salmon Steak. . .Ib., 38¢c Chuck Roast. . ..Ib., 25c | Fresh Shoulders,1b.,28c | Fresh Trout....Ib, 22¢ Pork Loin Roast, Ib.,42c | Rockfish . ......lb,, 27c Sirloin Steak. . . .Ib.,45¢ Leg of Lamb. .. .Ib,, 35c | Spare Ribs. ... .Ib., 28c | Fillet of Haddock. . .Ib., 28¢ Pint, 35¢ Tomato Sauce Del Monte, Can, 7c . A very low price for this quality flour. —finest sugar cured, smoked in hickory which gives that delicious flavor. Sliced by from the Chesapeake Bay. They are Factories at Brockton, Mass. W. L. DOUGLAS STORE IN WASHINGTON 90S PE NNSYLVANIA AVE., N.W. OPEN SATURDAY EVENINGS freshly shucked and shipped to us direct. OYSTERS =l