Evening Star Newspaper, December 20, 1926, Page 13

THE EVENING STAR, WASHINGTON, D..C, MONDAY, DECEMBER 20, 1926. 1S FIREARDTHERT INSURANE 1 HicE Billion 1926 Bill for Protec- tion From Losses—Invest- ment Is Good. R. A The cializes Foust is a broker in men which beings. market commodity human in the n services cotton, gra he gets a o buyer and sel {like other ¢ a clearing hou forces of suppiy Mr. Foust {pert in 1 in he spe He place for is is a middleman ana stock brokers, bringing His office, loyment exchanges, is through which the \d demand operate. | | | | | | BY ial Dispatch YORK, 1,000,000 has been spent t . C. ROY1 ) The Star December pen 1 Stre nks mmer for prevention nen revivirn “Millions for ¢ are Street ne now in the midst of the season of greatest activity. At the close of the ye: there is a chury pool of for Jute nd crime thy coumn to launch ventures for | s end of the arc an- ed o as large » as they n to look Custom- | their opera broker rather tha ifter balancing up 1 of the year, begin casualty 8 ited enou, tself themsely 3 many mced mployves who do 1 bonus or lieve they where for appre rs who lose money tions blame the hemselves, and ccounts at the to look elsewhere. outlay repr sums spent by Americ prevent los 1 health ¢ i cor 1 this purpc expenditures are * are none the less re 3! men estimate the saving prot at tenfold the investment $10,000,000,000. retur e in N Foust Also Philosopher. The seasonal period of flux he employment excha ers for men and for job M t is not only a practitioner n this interesting market place \dso a philosopher who looks for eaning the trends he observes. *On the basis of the experience lears through my offic who first got inter | k as a pe adjutant in the \. E. F. in Fre 1 find that the “hief reason for personal failure in ss_is maladjustment. Square ft into round holes. The con- tructive side of personnel work i | make individuals iore -erning their__own | quipment. When I see the book- keeper type making a pitiful attempt » become a ‘bond salesman, I advise him to stick to bookkeeping, study Losses Are Large. not posstble to > losses due dent, but the crime losses national w floods | approximat ss and acci- | 1 Jut 005 of the th, while the 9 tire are ahout .001 of the combustil alth of the country. Although or nized prevention unquestion growing more effective losses are highe before, since ter than ever before, The huge losse this year em phasize the necessity for general adoption of preventive methods. The advancement of prevention primarily loss: alive its before the actuar) science had been brought to its pr ent state of efficiency ance was a good de proposition. The insurer mium—and usuaily a good stiff one- bet the insured against hazard of loss to the latter, and then left it to chance as to whether he would be call to pay the debt. So often were the insurers called on to pay that the ceased to regard it as a betting propo sition and turned to organized preven tion to reduce their losses. The in sured were encouraged to eliminat their own loss hazards by reducin, their rates when they had done so. An indication that the betting stage has passed was the recent announce ment that for the time Lloyds hac ceased to write jewelers’ block insur ance on unset precious stones, be cause S0 many salesmen had beer robbed. Watching Check Forgers. Bank depositors and business lLiouses are using special vigilance against fraudulent checks at present since forgers always are specially ac tive during the Christmas rush period “The main endeavor of the crook,’ said James E. Ryan of the Metropo tan Casualty Insurance Co. today, “is 10 obtain ‘& genuine check, no matter how small the amount. This he car turn to his profit by altering it or forging an indorsement to it. If the check is carelessly drawn on inferio: paper he can easily change seria number, date and payee’s name and raise the amount. He leaves the sig nature alone. It is genuine and he asks nothing better.” A favorite way of obtalnipg gen uine checks is to rifle mail boxes in hallways. The way checks for smal amounts may be obtained from busi ness houses are legion, but a favorite trick is to pay for goods in advance for future delivery and then cance the order and ask that the store give a check for the amount refunded. Business men are being warned that when they are finished with can caled ehecks they should burn them Canceled checks have many thmes been bought from junk men and thc marks of cancellation filled up with paper pulp or otherwise obliterated. PRICES ON PARIS BOURSE. PARIS, December 20 (P)—Prices were quiet on the bourse today. Three per cent rentes, 53 francs 50 centimes exchange on London, 119 francs 9 centimes; 5 per cent loan, 58 francs 90 centimes. The dollar was quoted at 24 francs 62 centimes. .VERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. to impor for a pre “Par Value.” i One of the least understood of financial terms, even by investors and speculators of considerable experience, is “par value” The confusion of thought is increased by the now prevalent practice of issuing stocks of no par value. Let us see if we can make the matter plain. As has been said, the old custom was always to establish a par value for the shares of any new industrial organization. Generally it was $100, | but sometimes it was $50 or even lower—in the case of mining stocks $1 Now theoretically par value meant the amount the originators of the | enterprise paid in to secure their stock. Therefore, if a company w formed with 1,000 shares of $100 par | value each it meant that $100,000 had been subsciihad as the initial capital That would be very simple if stock were always issued for cash, but such c Stock is often given | and the property is ctors who order it d naturally opinions will differ as to whether or not the valua tion 1s correct So even par valu» certain guide to the is not iterested in cor @ heen establish i0d of years, and with these wlue is even more misleading, time the cor accumt if it meots with i impaired and efther cas no longe actual v: tablished by the balance she | | | { | ymmon stocks is | its actual asset val. | two and_ onehalf | Par value is convenient as a means | of stating dividend rates. They can- | not be expressed in per cent unless | but than times that amount there is a par value. But because a stook is of a stated par value there | is no obligation expressed or impled | on the part of the c tion or any | one else to pay stockholder at His inte the business, | and all this refers exclusively to com mon stocks and not to preferred, de pends entirely on the proportion the number of shares he holds bears tc the total number outstanding. For example, If a stockholder owns one share out of 100 he one-hun redth part of the bu , no more, | no less. He will 4 the sam amount, whether the par value is §1, £10, $50, $100 or “no par value.” ulti accounting | of a | at night, and aim ¥ to hecome controller zer corporation. “My advice to beginners is to make ure that their business career is not | ased on mere chance, but on thought Beginners should realize, moreover hat the important thing is to start with a good house. The nature of the employer is more important than | the first job or the initial N Blind alley jobs usually pay well | the start and lure the unthinking from | posts that open up unlimited oppor | tunities advancement. One out- | | standing private banking house still | starts in hoys at $12 a week, others) |at & Usually you can get more atessen clerk than in a bank ome banking houses con boys than they live on at the outset, hecause wish to employ voungsters | whose parents are actively inter n their development and willin ontribute to their support their appre 1 Such will quickly boy’s | when they made | 1. | graduates | 5 a week, rather | they are fitted | m they feel he has Many Are Discourag Too many colle how they can r than inquiri or what ‘00 d bey brilliant ny ause they individuals are discour feel they are not My observation is that busi sS goes not to the genius 1e hard-hitting fellow who is effectively every day switching from jobs too much attention to salary induce and too little to the question ibilities for future advance. men_pay ment.” Before the war Mr. Foust's expert ence was in the brokerage business banking. He is youthful anc ic. He el connectin and it the counter when employer meets employe. sked him what new trends he | liscerned in the market place for demand than | 11 street houses | ¢ for statisticians | attempt to tell the can alwa in inv Many house also take in as partners inexperienced | college-bred sons of wealthy parents | who thus bring in not only money | but also valuable contracts. | Bond Salesmen Needed. “The search for capable bond s men is unending. The demand is much greater than the supply k § E HECHT CO-~F | might turn down an offer be | place of employment is nco: | assigned him to the tou | trained inve | his w sales managers report difficulty in getting able vendors of investment issues. Accordingly, there is an in- creasing tendency to select men who have made good in other lines of en- terprise—in the thought that as bond | salesmen and cu men they can do business with the acquaint- ances they made in their previous | retivit | Mr. Foust’s work gives him an in-| sight into human nature. Sometimes | men desperately in need of a job wise the eniently cultivated men prospective em fall for rough- | le | netimes by ocated, ire not him Yale Sometimes seeming | sent out for jobs raduates “lemons” who are turn out to be One of the 1 cerns employec needed work e cash register con a man who desperate The sales manager st territory 10 soon demonstrate Instead, he developed ssman use which trains green salesmen in groups of 20 could only get 19 promising applicants. To fill the quota, the house knowingly took who had been a fail thinking he w his unfitness, into a crack A bond ¥ | | | | out to be t ° < | the house. tors | v of letting the their Responsibility in Giving References. Many individuals, who upulousiy honest, ov mer employes and acqua cining whom they have had As a result, the is a growing dis- position on the part of employers to ‘ount the value of refere ex t as a means of oiding those | with definitely black re Exceptional re otherwise | persons a real uth when called and other soon to accept t th lue, An employer of this type was asked by a hoy who had been in his employ for some months to write a letter of recommendation for him to another business man who had offered him & His present employer felt the v was misfit in his job, and was glad to see him n change. How upon to give ref men ich statement | efficiently so that his employer could | ) find | { prise. | ence cor other | that sta | satistactory ever, he saw little in the boy's record | of which he could speak favorably. He told the boy to study over his own record and then write his own references, with the promise that he would sign the suggested letter. Facts Were Against Him. Ten minutes later the employer re turned to the office and found that the hoy had not written a word. He recognized that the faets were a, him. Fortunately, he was enough and pliable enough to catch hold of himself, and begin to perform | something ciously to pr Broadly speaking writes his own lette on. By promp erk and efficie in doing the al- d tasks. the individual establishes + g0od record, which hecomes one of his_important’ personal assets » beginner is likely at first to be e of the fact that he is under | atlon and by his own conduct he is creating a rem p which will ondition hjs an enter- An individual i< judged by his external acts, not by the dreams and thoughts that pass unnoticed through his mind. » indivic record dese mendation, to m; in his record con ach individual | of recommenda- | n reporting to (I who makes a good s @ favorable recom- it and when he decides change. The best refer-| ists of a factual statement of the accomplishments of the fin- dividual. Letters that consist only of glittering generalities may be as- sumed to reflect little hesides the £ood nature of the old employer. Should Be Truthful. | Rusiness men owe it to one an- to be truthful in letters of :commendation. The good-hearted emplover who gives a letter of rec- ommendation to an fncompetent is | really doing him no favor, for the weakness of the latter will soon he discovered have heen conspicuously in glving letters of recom- | mendation to those who happened to | we accounts with them. Many | ock swindlers were able to impress | suckers with non-commital refer- ences from hanks which reported | cautiously that the promoter main- | taihed a satisfactory balance. Ex- perfence, has demonstrated usually maintain at banks, and that therefore there is no correla- tion between the size of a bank bal- ince and the character of a stock vendor, An individual | 0 gives refer- ences to another is placing himself on trial. He is certifying to the good repute of another, and his own repu tation will to some extent depen on the discrimination he has shown in selecting men to back. WILL SPEND $30,000,000. Baltimore City and Private Inter- ests Plan Port Improvements. Special Dispatch to The Star. BALTIMORE, December 20.—A total of $30,000,000 eventually will be spent in public and semi-public im- provements on the Baltimore water front as a result of the agreements to be signed by the city and big cor poraticns this week. The Port Development Commission will agree to build and lease a $4.000,- srehandising pier to the West ryland Railway. Baltimore and Ohio Railroad had plans since 1916 to spend $15.000,- 000, increasing its terminal facilities on the Baltimore waterfront, and the agreement will open the way for a start The W be the fi n Maryland pier will project to be started un der the 000,000 port development loan of 1920, of which $10,000,000 has heen ratified by the voters. e . s PROFITS SMALLER. NEW December 20 (#).— Cuban can_ Sugar Co. net profit of $039.254 for the year ended September 30, equal after pre- | ferred dividends to 38 cents a share on the common stock, compared with $1.712,982, or $1.16 a share, on the common the year before. A deficit of $1,363.312 remained after dividend payments, against a deficit of $1,589,- 384 the preceding year. WOMEN'S WORRY NOW RELIEVED med women rarely know | Drevalent of ailment ing. profescionally K 1= Toxaemint Wateh for the sympiy constant fatigue, mervea on edgo. slee less nights, skin troubl NE may denote e Even best about th infor; n A Stim! Te vou Get the Partola in mint_form giet. Regular ~—Advertisemen P\ There is an “the way to a man’s heart is by way of il ancient proverb that says his feet.” A practical sentiment espe- cially this time of the year with so many feminine brows furrowed by the puzzle of “what shall I give Julius”—and what does Uncle Jack really want? Breathes! there a man for whom there is no sox appeal? At The Hecht Co. you will find a splendid collection of sox on hand. Phoenix, Interwoven and Esquire. All splendid quality. And many imported by us. Sox for business, sox for sport, sox for evening. Of silk, lisle, lisle and’ silk, wool, silk and wool. with clox. others quiet. masters or policemen. But should you! Others plain. Some sox Some loud; In sizes for dancing guess the wrong size, or should he pre- fer black to purple and red plaids, there is the always comforting thought that| all gift merchandise is exchangeable. (First Floor, The Hecht Co.) STREET reports 13 OLD DUTCH MARKETS Specials for TUESDAY and WEDNESDAY Our advertisement in Wednesday’s “Star” will carry the latest prices on turkeys, ducks, chickens and other seasonable merchandise. | | | MAINE SPRUCE PINE CHRISTMAS TREES 98¢, $1.19 and $1.49 Each CRANBERRIES . . ... .2 lbs., 19c FLORIDA BLUE GOOSE FLORIDA ORANGES ORANGES \ 19¢c Doz. 23c Doz. ‘ SMALL SIZE MEDIUM SIZE TANGERINES TANGERINES 15¢ Doz. 23c Doz. LARGE SIZE CELERY 2 Stalks, 25¢ LARGE SIZE FLORIDA ORANGES, 39c Doz. Med. Size i GRAPEFRUIT GRAPEFRUIT 4 for 21c 2 for 15¢ EXER;@' LA_R(’:VE SI’ZE alifornia Nave - ORANGES .. 69 EMPEROR GRAPES .............lb, 15c Really High Quality Little Steer Cuts Porterhouse Steak . . . ... A% SHIOERSTealt . . . &...iiv. cises wrniresirs IO Top Round Steak . . . . ...............Ib, Bottom Round Steak ...,. ... . b CRuaclISteals. ... ;. ........vi. . .1b., Large Size 35¢ 33¢ 30c 25¢ 18¢ Cuts of the Finest Lambs Loin Lamb Chops Rib Lamb Chops . . Shoulder Lamb Chops . . : Breast of Lamb . .............. Cuts of Little Pig Pork Pork Chops, end cuts. . .......... Center Cuts 1b., 32¢ Fresh Picnic Shoulders, small sizes. Fresh Spare Ribs . . . . .. Fresh Hams, 8 to 10 lbs. each. . . . Smoked Picnics, 3 to 6 lbs. each. Smoked Ham Steaks . ... . .. .. .. Smoked Hams, nice sizes. . . . ..Ib., 29¢ Millbrook - Guaranteed E G GS “ 4 7C A Most Satisfactory Grade That Answers All Home Purposes Fresh Country Eggs . . . doz., 65¢ AR SELE .. Butter Ib., 65¢ | Full ‘Milk, Fresh Creamery h “Few Brands As Good; None Better Derrydale Creamery Butter A Really Superior Butter of Extra Fine Flavor 57¢ Ib. PURE LARD . . ... . Ik 15 Vegetable Compound . . ... . ......2 lbs., 25¢c Golden Spredit . .. itk s LR IO The Preferable Oleomargarine |Soft Shell Pecans.. .. AUDORT IR T Medium Size Walnuts. . ..2 lbs., 65¢ Finest Paper Shell Almonds. et I Brazil Nuts. . ... JHesiids ca bR 188 Mixed Nuts. . .. .... «..2 lbs., 45¢ ...lb., 42¢ .1b., 40c ....lb., 25¢ 1b., 12V5¢ ..Ib., 24c .. b5 23¢ .1b., 23¢ ..1lb., 28¢ ..Ib., 23¢ . .1b., 32¢ Doz. No. 2 can, 25¢ . Pure Sugar Sirup Sunshine Fruit Cake . . . ...... .Ib., 75¢ Loose Wiles master creation in finely decorated tin boxes of real utility. A wvariety of sizes and each one makes a perfect gift. Royal Anne Cherries “DEL MONTE" Brand. About 80 Pleces to the Can, in Ric {Atmore’s Plum Pudding . . . . . .No. 1 size, 30c Individual Size. . ... vone s e idry 26 Holzbierlein’s Xmas Cakes o b lNg SO0 Pin Money PRESERVED WATERMELON . . . .6-0z. jar, 23c Pin Money SWEET MIXED PICKLES. . ... .. .6-0z. jar, 23c Genuine Maine Corn ...2 No. 2 Cans, 35¢ “Homey Drop”” Brand, Regularly 19¢ Each OLD DUTCH BLEND COFFEE lb., 37¢c A Truly Appetizing Blend That Is Equally Good Any Hour of the Twenty-four SPICES, 3 10c pkgs., 22¢ An Almost Endiess Variety. .No. 2 can, 30c Whole and Ground Del Monte FRUIT SALAD ....... Chofce Quality California Fruits in Just the Right Proportions PUMPKIN, No. 3 Can, 10¢ MINCEMEAT, Ib., 15¢ Del Monte Asparagus. . .. No. 2Y, Can, 35¢ ‘Smqul.ayerfi'p........ ceeeee.2 lbe., 45¢ Cider,contents . .................gal., 49¢c Van Camp’s Brick’s Old Homestead These prices apply to “cash and carry” service only.