Evening Star Newspaper, November 11, 1930, Page 12

CHAN STORE SL RECORDS INPROVE Increased Dollar Volume . of Business in October Held Significant. SPLENDIp WOOM& BATy BY DONALD C. nm.fl:s. Assoclated Press Financial Writer. NEW YORK, November 11.—The chain store industry, facing the most severe test of its efficlency in its com- paratively short history, is inclined to | regard the increased dollar volume of | business in October as significant. Although it is the period of the year when an expansion normally develops, the 16 per cent rise in dollar volume reported for October over the previous | month by 41 chains is regarded as en- couraging in view of the sharply lower 1200 ROOMS WITH 120D BATHS ® All rooms are outside. . ® All rooms have Servidors. ® Al rooms have Circulating lee-Water | buying power of the dollar over that of a' yeer ago. Total Sales. Total sales of 41 companies in Octo- Ber totaled $241,087,819, against $207,- 561887 in September, & tabulation by Merrill, Lynch & Co. shows. The Octo- | ber figure represented a 7.97 per cent Gecrease from @ ycar ago, when sales amounted to $261,970695. The com- pany points out that this i slight when consideration is given to the shrinkage in commodity prices which, in many instances, are today 5 to 25 per cent less than'a year ago. However, in making a comparison of business in 1929 and 1930, consideration also must be given to the increased out~ lets for merchandise through chain ex- pansion, While the number of new Stores has been somewhat curtailed in Tecent months, expansion was fairly brisk at the commencement of the year. Furthermore, there has been curtail- ment of the number of competing in- dependent merchants. While the most sanguine are hopeful that, the dollar volume of business dur- ing the balance of the year, stimulated by the holidays, will enable the chain | stor2 industry to turn in a record com- paring favorably with 1929, the pros- pect is clouded by uncertainty over the purchasing power of the consumer. The sharp drop in farm prices and the slackening of the wheels of indus- {ry undoubtedly has reduced the buying power of those dependent upon them | for their income. ndar . | dustrial an: groamy lather penciratestothe | |four-niths of that & vear ago. 1t that e i oot i e |is true, it would tend not only to re- beard end keeping it in thei | sirict the ‘volume of holiday buying condition until the shave is | quring the Christmas season, but, fin:shed. And what a wonderful through limiting most purchases to low= f priced goods, would prevent the total trade during the period from equaling that of 1929, Larger Unit Business. Although their dollar sales have de- creased, the chain stores have been doing & larger unit business, Merrill, Lynch & Co. reports. jon has been created in ‘The impress Hragget Rave some quarters that made ;‘runt effort to stimulate sales at the expense of net profits. Quite to the con'nrym. says the company, main chains have put_into effect savings and effi- ciencies during the current year, with the result that net profits should be larger than anticipated, In some in- stances it is expected that it will com- pensate companies for whatever disap- g:h\unx results may develop in total siness. Many of the price reductions that stimulated sales were merely a case of the chains passing on to the consumer e e iees Shass phovaiad year mu er n p ago. Where the turnover has been rapid, goods have been sold to consum- ers at which allowed about the same margin of profit as when whole- sale and retail prices were higher. MOTOR CAR COMPANY INCREASES PAY ROLL 5 R BY A. M. SMITH. Special Dispatch to The Star. DETROIT, November 11.—Acting on {'the belief that business will soon return to normal, the Hudson Motor Car Co. has reinstated 1,000 men in employ- ment, in’ addition to 1,500 rehired last week, and announced that another 1,000 would be called in one week from today. “The business depression has been caused chiefly by fear,” William J. Mc- Aneeny, president and general manager of the company, said today. ‘‘We are re-emylnying 3,500 men because we feel that if the employment curve turns up- ward much of the depression will be re- moved. We have every indication that | the results we.expected one week ago | have been more than realized, for news- paper comments from the outside have | been enthusiastic over our program of increased employment. Labor officials, bankers and financial houses have also sent approval of the move we have made. “I believe the automobile industry will again be a leader in renewed business OPPOSITE PENNA. STATION 31*ST. & 7* AVE. 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It was the biggest customer of the railroads, the steel and textile industries in 1929, and each of these great industries is already feeling the effect of the new model progtams which are now in effect. | “The automobile’ has been the only | manufactured product, so far as I know, | that has been consistently improved in | quality, with the prices decreasing year by year.” (Copyright, 1930, by North American News- paper Alliance.) money refunded. for *baldness - - - can be checked Baldness==the devastating enemy of your appearance can be checked by the Thomas’ scientific treatment per- fected by years of specializatién. The Thomas’ system restores scalp health and gives new vigor to your hair. The Thomas’ method positively banishes dandruff, itching scalp, falling hair and assures satisfactory results. Scalp health means hair growth. We are NOT physicians, we are hait experts. Visit us today. Let us analyse without =THOMAS’ i 'World's Grestast Hair Specialistswith 45 O F-¢s in U. 5.8 Can. Suite 1050-51 'flw Bl(‘ b Cor. N, Y. Avenue and St., N. W. | HOURS=H ALM. to SATURDAY to 330 P. M. | commodity prices which enhanced the | TiHE EVENING STAR. WASHINGTO BLUE-CHIP STOCKS PARALLEL GENERAL ACTION OF MARKET Special Dispatch to The Star. NEW YORK, November 11.—So-called “blue-chip” stocks have consistently followed the trend of the general mar- ket during 1930, according to M 's Investors’ Service. Since the establ ment of high-price levels, around April , the average yleld on 30 “blue chips” has advanced 41.0 per cent, while the average yield on all dividend-paying stocks has increased 41.8 per cent in the same period, the analysis fimds. ‘The 30 selected issues include 21 in- dustrials in 12 individual groups, 1 rail chla! utilities, 2 bank and 2 insurance s The composite vield of this group was 3.10 per cent on April 1, Moody's states, as compared with 4.37 on Oc- tober 31. “The advance in yield, on the average, over the last seven months has been almost identical with that recorded by the entire body of stocks. It is true that “individual cases may be found. as in. the electrical equipment group. where the percentage gain in yield on a ‘blue chip’ has been considerably larger, but the average is thoroughly repre- sentative of this type of stock.” Moody's computes the average yield of all dividend-paying common stocks listed on the New York Exchange at 8.38 per cent on October 31, as against 7.91 per cent at the end of September | . and the 1920 high of 8.08 per cent. Two individual groups of stocks still maintain average yields well below that of gilt-edge bonds, although well above the averages for these groups seven months ago, according to the analysis. On October 31 the average yield on bank stocks is given as 3.32 per cent, or 155.1 per cent of the level of April 1, while the average yleld on electric light, power and gas stocks was 3.91 per cent at the end of October, or 148.7 per cent of the yield seven months earlier. Public works in Italy have taken up | unemployment slack to the extent of | giving jobs to more than 200,000. Regular Delivery Over 100,000 tamilies read The Star every day The great ma- ;qu have the paper delivered regularly every evening and Sun- day morning at a cost of 1% cents daily and 5 cents Sunday If you are not taking advan- tage of this regular service at this low cost, telephone National 5000 now and service will start tomorrow. Says BENDIX AVIATION CORP: BALTIMORE, November 11 (Spe~ cial)—Bendix Aviation Corporation and subsidiaries net profit for the nine months ended September 30 of - 81,667,334, after depreciation, in- terest ‘and Federal taxes, equivalent to 80 cents a share on 2,097,644 no-par shares oumnl.!ng’ . This compares with $6.803,000, or $3.26 a share on 2,115~ 201 'fl;‘m in the corresponding period For the third quarter of 1930 net profit réported amounted to $136,397 after all chlrca;. equivalent to 6 cents a share on 2,097,644 shares, as against $779,251, or 37 cents reported for the preceding quarter, and $1,737,083, or 81 cents a share in the 'corresponding quarter last year. All clocks in Mexico will be turned The Bendix Aviation Corporation has a local subsidiary, mmxmuxm over | back one hour Saturday, re-establishing the Consolidated ' Instrument Co. of| “sun time” in place of what is known America here earlier this year. as official time. Aching Muscles—Sore Joints? THATS GREAT, MOLLY. MY ARM FEELS BETTER ALREADY. 'UNE in on the kick-off ... thefirstdown... the drop kick...and the final / score! 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