Evening Star Newspaper, April 11, 1929, Page 13

UTILITIES FEATURE - TRADING ON CURB Metal Shares Also Prominent . in Recovery—Other i&: Groups Quiet, 3 BY HARRY H. BECKER. Bpecial Dispatch to The Star. NEW YORK, April 11.—Speculative operations on the curb exchange tcda; ‘were marked by fairly vigorous sirengt! in utilities, in certain issues closely related to the steel industry and in the metal mining group. Movements in those favored shares were in sharp con- trast to a condition of neglect in the case of most others. With most of the flavor squeezed out of the Ford of Canada stocks durins the past few days, these participate little in the improvement. In fact, they presented a comparatively forlorn ap- g:lnnce. The new B seemed to have en “pegged” between 105 and 110. It closed the day before at 1¢7. Ford old ‘was down over 35 points at one time. ‘The most interesting feature was the urgent buying of utility issues, which as & group displayed general buoyancy. Electric Bond & Share led the holding company stpcks, advancing nearly half & dozen points and stimulating activity at higher prices in the American Super Power issues, Eastern States Power “B,” Duke Power, Northeastern Power and United Gas improvement. International Telephone & Telegraph steadied after 8 weak opening and American Foreign & Power warrants afded substantially to its advance of the day before. A number of indusirial specialties went up for specific reasons. Celanese common climbed several points in acknowledgment of the optimistic re- ports of its first quarter sales and profits given out at the annual meeting. Ship- ments in the three months were three times greater than in the same period of 1928 and profits 60 per cent greater. Gold Seal Electric made no response to the announcement of a four-for-one split up and the offering to stockholders to subscribe to new common at $57.50 & share. American Rolling Mills rose sharply into new high ground. Hiram Walker was unaffected by the Ppublicity given a suit brought by a Con- geumln in an effort to force the curb repay him for losses incurred in a transaction in the issue. ‘Tri-Continental Corporation, among the financing concerns, held its recent strength, which was partly accounted for by announcement that representa- tives of strong banking interests had been elected directors. Goldman-Sachs displayed moderate heaviness and ‘Trans-America was much quieter. Among the coppers Newmont featured with a 6-point recovery, while in the Jow priced specialties Kolster Brandes lost further ground. Aviation stocks were r. COTTON IS STEADY IN OPENING SALES Liquidation Causes Early Setback But Market Soon Ral- lies. By the Associated Press. NEW YORK, April 11.—Cotton open- 1 steady at a decline of 1 to 13 points, th active months selling about 10 to 13 points net lower in the early trad- ing under liquidation. There was also some local and Southern selling pro- moted by & favorable weather map and easier Liverpool cables. A private report estimating domestic consumption for March at 626,000 bales, compared with 613,394 for February, appeared to be somewhat under expec- tations and might have figured in the early decline, but the volume of offer- ings tapered off somewhat around 19.77 for July and prices showed ral- lies of & few points from the lowest at the end of the first half hour. Private cables said- there had been London and local selling in Liverpool on the better weather from the South and that the turnover in cloth and yarn was unimportant with stocks ac- cumulating. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., April 11.—Pota- toes, white, 100 pounds, 75al.15;. new potatoes, bushel, 1.2522.00; yams, bar- Tel, 2.00a3.25; sweet potatoes, barrel, 2.00a3.25; asparagus, dozen, 1.50a550; beets, crate, 2.5022.75; beans, bushel, 1.25a3.75; cabbage. hamper, 50a1.25; carrots, bushel, 1.50a1.75; celery, crate, 1.25a2.50; cucumbers, bushel, 1.50a3.00; eggplant, crate, 2.00a3.50; kale, bushel, 20a45; " lettuce, basket, 1.00a1.75; lima beans, el, 3.7524.50; onions, 100 pounds, 1.50a4.00; peas, shel, 2.50a 2.75; peppers, crate, 1.5023.50; radishes, bushel, 1.25a1.50; squash, crate, 1.50a 3.80: spinach, bushel, 40a50; tomatoes, crate, 1.00a4.75; apples, bushel, 75a2.00; grapefruit, box, 2.00a3.25; oranges, box, 225a4.00; strawberries, quart, 15a40. ‘ Dairy Market. Eggs—Receipts, 2,912 cases; native and nearby firsts, free cases, dozen, 544 : current receipts, 20a22. Butter—Good to fancy _creamery, pound,, 45a475: prints, 48a50; blocks, 47a49; ladles, 35a39; store packed, 32a 33; - rolis, 33a35; dairy prints, 33a34; pn':‘cess w::g._oshl‘:. hickens, B.‘ound. ve poul pring ¢l 3 53a55; Legiorns, 47a48; young chickens, d poor, 25a28; old hens, 33a35; Leghorns, 31a33; ducks, 20a30; guinea fowls, each, 5081.10; pair, 35240, ° Hay and Grain Prices. ‘Wheat—No. 2 red Winter, garlicky, quotations; No, 2 yellow, domestic, spot, 1.07a1.08; cob corn, 6.00. Oats—No. 2_ white, domestic, spot, ::l a60; No. 3 white, domestic, spot, Rye—Nearby. 1.15a1.20. Fay—Receipts, none. While hay is ar- riving here in limited quantities only, it is more than ample for the demand, which is being sul mostly by truck from nearby points, a few carloads be- ing received. There is not enough busi-. ness passing to establish prices on the various kinds on T& at & range of 15.00216.00 per ton of timothy or clover hay. gtnw—No. 1 wheat, 12.00212.50 per No. 1 oat, 12,50a13.00 per ton. o BUYS COPPER OPTIONS. NEW YORK, April 11 (#).—North S e 000,000 Associated Faa e B e e e S = 5 2 s EunsnunoanSuSheas; NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office lan Cent States El en! Y 25 Gent St Bl conv pid 131% 3 8 Check Cab Mfg 2 Cohn-Hall Marx Colg Palmol P 1 Curtiss Flylng Serv 4 Girt Reld Alf pfd 1Davis Drug Allot ctfs 2 Decea Reco! 7De For R C.. 13 Doehler Die 6 Douglas Alrera Dubllier C & uke < Fajardo Peds . Firestone Tire . Fokker Airp Am n Bak . Gen Bak pf Gen Elec Ltd Gilbert (A "C) 1Gri 1 Grigsby Grunow 2 Happin C 8t A Hart P: eltine~ Corp a Ruhensteir; M Municipal Serv Nathen Straus . i aro, 22222222 e T pwren >3 oozazzz 2 o2 Eq cv pa thoard Motor A.. board Motor EECESE gcages L o;g‘g‘ e H it 243 5 < i nil gaazee bne oo §535 e, S & 3 gty i ffi!’?fiasg 2o 233 Bons, o880 s e s st E5GR e 2B BERSEE! " e W (3 ' T a0 28w BR2EE558 -2 330 B8 8! - ", SReR3RY FEFENRRE ¥ & EAEISRE * 3 & = PSBARIEINSS 5 LRI EFRCE R E S o - FS Fmae ) T W IEBER G ey uSHusy siz 53383Ess, 5% 32 2 isands. PLP B5s A '53 85 - ' 825 S et e = i B meansns 3B, » 11 o - ! & sEgngessssigaseanay et G i ow, i Sl st 30D orsrcat & 2 =§s======a§s:===:zi P 2 ¥ Q! §392 ss22s Asdrsse e o 9 H e 7% 1 Intersts Pow 9 Tnvest Bauity ul K 222238 WOSSER EREE W SeSScens 235388! §3§§i§ ud 3 = D9 VIIORZZZZZ: Swg i 2 West Pow Blas A 1Wisc Cent 55 '30 . Sales in FOREIGN BONDS. thousands. u3 113 % T 1 Buenos Alres s 13 Cauca_Valley 7s 8 Com&Pri_Bk 1Danigh Cons 3 s 22222 IIABBRLBSE2S R F i = 3esasans FFEE Bug 18 " 13'Ruhr Gas 6las A 2 Rumanis Inst 78 x xd—] vidend. ¥i-When issued. ow. Ww—With warrants. CHICAGO LIVE STOCK MARKET CHICAGO, April 11 (®).—(United States Department of Agriculture)— Hogs—20,000 head, including 5,000 di- « | rect; market mostly 15a25 higher; top, 11.75 paid for 170-230 pound weights; mt}!fiyp:n ll.fiollulil.'li mflkleoto for desir- able hogs scaling over 1 butchers, medium to choice, 250-300 1.25a11.65; 200-250 pounds, 1 3 111.25a11.75; 160-200 pounds, 11.00a11.75; 13 60 unds, 10.00a11.70; packing W-mfls: plgs, medium to rearlings, AY ings, 8382885 BABLnAY! SO SENEESS, SR, N8R, & & & sows, 1 choice, 90-130 pounds, 8.75810.75. Cattle—Receipts, 6, head; calves, receipts, 4,000 head. higher; uneven, but generally active at advance; in-between grade steers and yearlings showing most upturn; kinds selling at 13.50 downward; best long yearlings, 14.75; weightly steers, 14.30; slaughter classes steers, good and choice, 1,300-1,500 \lnd;,ngxio:sl 85; 1,100 1 pounds, 13! .85, dium, 850 poul up, 9. .75, good and choice, 750-950 pounds,, 13.50a15.00; heifers, good and choice, 850 pounds down, 12.75814.50; common and medium, 9.25a12.75; cows, good and choice, 9.00a11.50; common and medium, 7.75a9.25; low cutter and cutter, 6.2587.75; bulls, good and choice (beef), 9.50a10.50; cutter to medium, 1. lers (milk fed), good and feeder steers, good choice (all weights), 11.75a13.00; com- Sheep—Receipts, 11, 3 no done, asking around 25 cents higher; holding bul t Jambs around 17.25a 17.50; best aroynd 17.75; fat ewes, steady, 11,25 down; fe and s b ing lambs scarce, steady; lambs, good 92 pounds down, 16.60a ¢ , 16.00216.75; cull and SO e, 15701750 92-100 , 15.75817.50; ewes, me- dium topgunholm. 150 pounds down, 9.00a 3 and comimon, 4.2529.25; feed- le}-'algm%“sl,l good and choice, 15.00816.75. * Buys Straw Hat Firm. TIMORE, April 11 (Special).— s R terest In_ the Brigham- ., one of the ploneer straw tates, firm of Brigham & was !w‘n-nd.ed in 1876 by the late William T, Brigham and Robert D. ‘Hopkins and its product has been sold in practically every city in the country. — b Firm Expansion Reported. NEW . YORK, April 11 (P).—Wall Street anticipates early announcement of the formation of an English sub- of Can Co, to be A the lish sold in England and ; general market 25| total WHEAT PRICES GAIN | " IN EARLY TRADING Market Turns Upward After Brief Irregularity—Weather Re- port Factor, By the Associated Press. CHICAGO, April 11.—Wheat prices here turned upward today after an irregular start. An unexpected advance in wheat quotations at Liverpool, to- her with reports of more demand ere and of drought in India, tended to strengthen values here. Opening at 8 decline to % gain, Chicago wheat later showed a rise all around. Corn, oats and provisions were likewise firmer, with corn starting % off to % up, and subsequently holding near initial figures. India furnished something of a sur- prise today with announcement that| rainfall has been insufficlent for the filling of wheat. An immediate result was a rise in wheat quotations at Liver- 1, whergas a decline had been looked for. . The drought advices from India went hand in d with word of re- newed buying of Australian wheat for shipment to Indla. Besides, dispatches were received saying that European weather was bad, French millers mak- ing large purchases of foreign wheat, and referring to smallness of farm stocks of wheat in Germany. On the other hand, domestic crop reports today were favorable as a rule, with special mention or benefit from rains. Friends of higher prices for wheat gave particular stress today to the fact that wheat future deliveries were around 20c s bushel lower than a year lfl’, and to assertions that this had dis- counted bearish features. It was also pointed out that sofl conditions in Can- ada were still too dry, that there were also possibilities of cr:!p damage ahead in Spring wheat this side of the Cana- dian line, and_that passage of farm aid lation at Washington could not be other than bullish. TIGHT MONEY PUTS CHECK ON FINANCING Special Dispatch to The BY KENNETH S. VAN STEUM. NEW YORK, ril 11.—President Hoover's -wfilAupmr of the Central and Sou added American countries, to Lindbergh's trip to Central America and Ambassador Morrow's work In Mexico, has concentrated attention on the Central American republics as never before. ' Al h commercial interests of this country have been active in developing the Central American territory for many years, the general public has been inclined to underestimate the im- portance of their work. Last year, however, President Cutler of the United Fruit Co. estimated that the Caribbean ccountries bought $187,000,- 000 worth of agricultural products and $204,000,000 worth manufactured products from the United States. American capital is flowing into Cen- tral American enterprises at an in- creasing rate, and, naturally, ter attention will be focussed on those zmidpmuu which have ploneered in the United Fruit Company. By 1809 those companies dealing in; bananas were convinced that their gx;ogrm in the tropics would always uncertain unless they owned adequate transportation facilities and unless their properties were so widely distrib- uted that the periodical tropical storms and plant diseases would not wipe out their entire properties. As a result, many of the monger companies oper- ating in the countries bordering on the Caribbean were absorbed in the for- mation of the United Fruit Co. Today United Fruit handles one-half of the world’s bananas and is one of the largest sugar producers in Cuba. It also operates in Central and South ' American countries, Jamaica and the NEW YORK, April 11.—The remarks of President J. J. Bernet of the Erle Railroad to his stockholders, regarding the present difficulties of financing in order to carry on improvements, are pertinent to the business situation as well as to the conditions in the invest- ment market. & Mr. Bernet is quoted as saying: “We hope the bond market may improve and we possibly may sell some bonds or some class of stock which we might devise to obtain money to finance our improvement.” The last large issue of h& bonds was represented in $50,000,- 000 of refunding and improvement 5s brought out two years ago at 94%5. These bonds subsequently sold close to par and are now fractionally below the initial price. It would probably cost the Erie 5% per cent, as a minimum, to borrow t long term obligations today. It is doubtful even if the bond market could absorb an offering at that r;ee. ;:,f the size placed in the Spring of 1927. On the board of directors of the Erie Rallroad are representatives of banking incerests who should have a clear judg- ment of the future of bond prices. It is significant, therefore, that Mr. Bernet felt compelled to say: “I doutb that the board will try to sell any securities on the present market. It does not seem to be the day for it. I hope before the year is out we will see a better day and we may find s market to justify securities to take care of the improve- ments.” Aside from & few small issues of long- term bonds and a moderate amount of short-term notes the chief medium’ for railroad financing recently has been through convertible bonds such as those of the Southern Pacific, Atchison and Missouri Pacific. In the first three months of this year, of $206,000,000 of raflroad bonds authorized, by far the largest portion were of & convertible nature. The Erie statement suggested something of the same sort, although as no_dividends are being paid on either Erie preferred or common stocks, a convertible feature would not be of any immediate value. Years ago Erle had several issues of 4 per cent bonds that were convertible into common stock. The option on most of them ex- pired without bringing a great deal of advantage to the holder. Considerable financing is being post- poned indefinitely, as in the case of the Erie Railroad, awaiting a clearer outlook in the money market. Although it is now apparent that the Federal Reserve Board has definitely taken the position that it will not raise rediscount rates there are few signs of easier money. . C. & 0. Pamphlet Report. The Chesapeake & Ohio Railway Co. has issued its pamphlet report for the year ended December 31, 1928. Balance sheet as of December 31, 1928, shows assets of $569,453,655, against $551,393,218 at end of 1927; and profit and loss surplus $97,603,051, comparad with $79,839,339. Current assets were $31,045,021 and current liabilities $15,- 580,143, as compared with $38,870,217 and $15,700,286, respectively, at close of previous year, TUrge Stock Split-Up. NEW YORK, April 11 (#).—Directors of Gold Seal Electrical Co. of New York have recommended a four-for-one split- up of the common stock, to be voted on by the stockholders at the annual meet- ing on April 20. The stockholders have also been offered the right to subscribe at $57.50 a share to 13,138 common shares on the basis of 1 new share for each 10 held.. The stock split-up would be made immediately ‘after is- suance of the new shares, POTATO MARKET STEADY. CHICAGO, April 11 () (United States Department of Agriculture).— Potatoes—Receipts, 69 cars; on track, 30, new; 259 old; total United States shipments, 637 cars; old stock t fair; market steady; Wisconsin, sacked, round whites, 50a65; ) <35 = 23 Q 5 3 3 & 3 < f EEE i 98, T B B © %! ’525-?.5 . & g Canary Islands, producing bananas, sugar, pineapples, cacao, oranges, grapefruit and other tropical products, and transporting and distributing them in all parts of the world. In addition to the growing and dis- tribution of these products, the com- pany carries on a general freight and passenger steamship service over the Caribbean and operates railroads, tele- phone and telegraph lines, a sugar re- finery, hotels and many other busi- nesses which were necessary to the proper development of this region. Despite these diversified activities, how- ever, the company's principal interests are bananas and sugar. In the banana trade United PFruit has more than held its own even in the face of steadily increasing competition. Being much the largest producer in the fleld, it is able to produce at consider- ably lower cost than any of its competi- tors, and income from this one line, as well as from other interests, has in- creased steadily over a long period. Sugar Properties a Problem. Its sugar properties are probably the company’s greatest conceérn. Because it is forced to pay the import .du levied on all Cuban sugar, United Fru! has had little income from this source for five or six years. Although it is one of the lowest cost producers in Cuba, it cannot successfully compete ageinst the duty-free r raised in the United States and ndencles. Its re- finery in Boston made moderate rmflu. but its plantations have suf- ered with those of other Cuban producers. back a more rapid ex) company's earnings which in-other lines justifies. United Frult has always been able to reinvest.tre- mendous sums in the company and makes a practice of valuing its proper- :lhu t\very conservatively on the balance eet. Earnings on the basis of the present stock outstanding have fluctuated be- tween $7.16 & share and $8.58 a share during the past seven years and have The difficult sugar situation has held | nsion of the | its progress ! LUMBER INDUSTRY | INCREASES SHOWN .. " |ing BY J. C. ROYLE, Special Dispatch to The Star, mien of the United States have taken an remarkable old adage and adapted it to their own Yoo by the needs. Instead of cutting their coats ac- | ,roqucers, who normal cording to their cloth, they have cut|gje West. They are keeping both pro- e opera ! NEW YORK, April 11—The Tumber- | Prans. saemcatonr” ooy oo oF 00 ‘This situation dm‘:nt which has been | [MOre, just made public.” Such & re- thern pine and hemlock | 'AfD Would mean an appreciable in- %/8 PER CENT RETURN ON VALUATION URGED Special Dispatch to The Star. BALTIMORE, April 11.—The need of an 8 per cent return on the vaiuation n(ul"la properiy is emphasized in the an- n report of the United Rallways, 1¢ . P et racs s Yt | which controls the trolley system of Bal- - | crease in the present rate of fare. The supply the Mid- | pypjic ‘gervice Commission maintains their p.rodueuon according to their sales. | quotion and shipments below new busi- that the present fare yields 6.26. The As result, are in a stro istical postiion. S¢ e Coast are not at peak | ore dominant . company declares that the actual rate e ;‘;’mfll}“g‘; o‘{:,mmhg of return in 1928 was only 5.25 per cent. 4 marked the le, the Douglas Fir MIlls | the goft, coal fields and this has been a | goh oy iDCOME was placed at $1,451,- o e r | 336.68, of which $878,693.33 was credited uction, but there is the strongest COPRET | to depreciation reserve and the re- of ‘résistance to demands of Te- | Sirict annene oo i the JOPUR | mainder formed the “profit and loss.” tailers and consumers toward price re- Sna Toer tnat present MM n e | and feel tha nf ction can disposed of profitably. Prices are $1 to $2 a thousand feet higher than at this time last year. EARNINGS REPORTED. NEW YORK, April 11 (#)—Net in- | cents was in effect. come of Nash Motors Co. for the quar- The reasons for this attitude are | ter ending Pebruary 28 was $4,118,870, | tax bill, which amounted to Revenue from transportation was TS TR $16,141,821.15, an increase of $97,888.67 over 1927, During part of the year the higher fare rate of four tokens for 35 ‘The report emphasizes the company’s $1,758,- plain to those who have had an inside | equal to $1.51 & share. Net for the same | 574.11, including $1,579,061.34 assignable view of the situation. Residence build- | period last year was $2,604,378, or 95 | to railway operations. ing construction in some sections of | cents a share. the country has fallen off. But engi- construction, according to ac- | subsidiaries re, Chicago Pneumatic Tool Co. and n ports- net profit for the tual contracts let, which are the only | first 1929 quarter of $325,301, equal to S . & Treasury Interest and Payments. NEW YORK, April 11 () —Treasu reliable measurement, has exceeded so | 80 cents on the common. Profit for the | h;urest payments on Liberty loans A far this year the corres) tracts of 1928 by $331.2 per cent. Contracts in the first quarter | tion. Safety First is more than being Careful Veteran Virginia truckman gives personal testimony Cites need of good high-quality oil G. Mark Davidson of Lexington, Va., is some- thing more than a veteran truckman and a substantial citizen of his community. He uses his truck as a road testing laboratory for various kinds of lubricating oils. Profits in Good Oil Trucking is a keenly competitive business and the profits from a single trip may be the dif- ference between using cheap oil or & good oil. The difference between no repairs and a day to a week of overhauling the motor. Mr. Davidson, realizing this fact, proceeded to find out for himself, in the most intelligent fashion, just which oils do stand up on the long, hard pulls in the Virginia hills, and which oils cannot stand the gaff of hill-climb- ing, long distance heavy hauling. Mr. David- son wanted only the best. 5 After trying a wide variety of different motor oils; Mr. Davidson finally narrowed his choice down to three brands: “Standard,” and two others made by well-known companies. There seemed to be little or no choice as far as the specifications of the oils went. A road test alone would show up the difference, and this . Mr. Davidson proceeded to make. averaged $7.69. Thus the $4 dividend rate is covered by a comfortable margin. Based on the regular dividend, the stock yields only 3 per cent at 134, although the company has been declaring an extra dividend of $1.50 for several years and just recently declared a 5 rer cent, dividend to replace this extra $1.50. United Fruit has still to face the Cuban situation and the present agita- tion for a tariff on bananas. Probably these are no more difficult than many other situations it has been overcoming steadily in its development in the Cen- tral American states. Cuyamel Fruit Co. Cuyamel Fruit is another large com- pany growing, transporting and market- ing bananas and sugar cane in the Cen- tral American countries. Cuyamel’s properties are not so widely diversified as those of United Fruit. Its banana and sugar plantations and a sugar mill are located in Honduras and Nicaragua. Most_of United Fruit Co)&ofropenlfl are therefore to the south of those of Cuyamel. Cuyamel rates 14 steam- ships and 145 miles of railroad in con- nection with its transporting system. The lines carry general freight and pas- sengers as Wwell as the company's products. Cuyamel's earnings during the past seven years have fluctuated rather wide- ly—between $2.04 and $9.54. In 1926 Ju company thought it wise to conserve resources and although earnings reached $6.23 in 1927 and $6.22 in 1028, no divi- dend has been paid. Instead, earnings have been reinvested in the properties. Since the company has not a long enough record of earnings and dividends it is more difficult to estimate the future possibilities of the stock. At its present price, around 75, the stock is selling at 15 times the :!v:;:nhmni:n o!mu;e past six years, ugh paying no divi- dend. . This may be compared to the United Fruit Co.’s stock, which sells at l'l:a times earnings. United Fruit has paid dividends regularly and also gen- erous stock dividends. (Copyright, 1929.) o CHICAGO DAIRY MARKET. Satas peselg "‘22"4 341t soeammery g ,347 tubs; cream dards, 43%: extra L | extras, 43%;_ stan firsts, 42%’&48%: firsts, 42a425; sec- 41%. mg:n—v(?mch-n:ed: receipts, 30,138 cases. Poultry, alive—Easy; receipts, 4 cars; fowls, 32a34; broilers, 44a47; roosters, 22; turkeys, 30; ducks, 24a30; geese, 19. P B o Mt Bectstobe P Bk New, 3'x¢ with glass, $2.75 nding con- | same period a year ago was $155,929, 0,000, or 42 | or $1.65 a share, on a smaller capitaliza- | amount, $52,000,000 will be payable at will total $150,000,000. Of this | the Federal Reserve Bank of New York. G. Mark Davidson Tests Motor Oils Read his own story: “On a recent 600-mile trip I used five quarts of a competitor’s oil. Later with another oil I used three quarts. Then I decided to drain my oil and fill up with ‘Standard’ Motor. Oil Heavy, and “‘Standard” Gasoline. On the same trip under the same running conditions, I'used only one quart of oil. That proved to me the superior quality of ‘Standard’ Motor Oil. I do not hesitate to tell my friends that it is the dest oil I have ever used.” Convinced by Oilier Qil Like millions of other motorists, Mr. David- son discovered that “Standard” Motor Oil is that o-i-l-i-e-r oil. Especially processed from choice crudes, and guaranteed to stand up and everlastingly fight friction. Sealsin compress- ion too. Allows the motor to utilize more combustion power and show greater mileage per gasoline gallon. It’s the original quality oil at no higher price. Insist upon “Standard.” On sale everywhere you see the “Standard” Motor Oil sign. YOUR HOUSE NEED PAINT?...THIN REMEMBER- PRoOTECTION comes from Both Ends of the Paint Brush Write our nearest branch for new -m.mh»"- Live In.” ERE are the partners to paint your house —an experienced painter on one end of the brush . . . and pure lead paint on the other. They assure complete and lasting paint protection for your property. The experienced painter—the master painter—has been beautifying and pro- tecting houses with pute lead paint since early American days. Purelead paint is the kind made with Dutch Boy white-lead . . . the kind that gives a tough, durable film which doesn’t crack or séale. Ajobdone by amaster painter with pure lead paint saves you money in the end. JOHN T. LEWIS & BROS. CO. Widener Bldg., Chestnut & Juniper Sts. Philadelphia, Pa. OTHER NATIONAL LEAD COMPANY Offices: Néw York, Boston, Buffalo, Chicago, Cincinnati, Cleveland, Pittsburgh, St. Louis, . San Francisco