The Seattle Star Newspaper, April 12, 1920, Page 17

Garment Section 20% Reduction on Suits, Coats and Dresses Furs and Women's Apparel 1510 Second Avenue dust Above Pike Tom and Jerry names, ¢ 5 ost Careful Attention the most ir bie, and you will find this e« ly true in the matter of the c the eyes. sictan ALL SIZES Guardian Trust & Savings Bank COLMAN BUILDING INDIGESTION BILIOUSNESS 1 ‘tatiert ork who have tested our work. are in the right piace. Fring this ad with you. Open Sundays Fram 9 to 12 for Working Mrople OHIO CUT-RATE DENTISTS Opposite Frasce-Vatersen Co, | 22-3-20 ‘9 UNIVERSITY sT. o W.H. HAHLO & CO. Proud Parents »~= Victims Labor Under Hallucinations; Need Humane Treatment easentially a local anesthetic ' pecially valua ec in surgery of the Your Eyes Should | «> crane apes mand and Receive the, | app In every profession you will find | specialists whore knowledge and! training hare fitted them to render Ligent service pom celal Select your Optician with as much care as you would your phy | persint ob | then, to exer f@non disappear. These are not t 325 Pree Street | no such animals in his eye. | would not have it so. He wo of a mirror and remove them with a small sharp pointed jin front | peeping thru a key-hole ’ CONSTIPATION’ SICK HEADACHE, NO CALOMEL OR MasIT FORMING DRUG | Muskon® MADE FROM ROOTS, HERRS & BARKS ONLY 4 MONEY-BACK GUARANTEE IN FACH BOX ALONZO O. BLISS MEDICAL CO.) jie: Est. 1883, WASHINGTON, D. C1) will “TRY STAR WANT ADS REAL PAINLESS DENTISTS erder to introdace our new (whalebone) plate, G74 strongest plate known. covers very litthe of the roof o you can bite corn off the cob; guaran: $15.00 Set of Teeth... , $10.00 Set Whalebone Teeth. . $8.00 Crowns . ) THIS DOC SAYS NUTHIN’ DOIN’ No use trying! Thornton says he believes in doesn't agree with it, COCAINE HABIT THE Declares Dr. 3 Jas.A.Ghent) DEADLIES BY DR 4 (Count Jail & be ru DAYS of e Incas ath America © Indian ers who were the conveyers of long digtance messages, used to chew the om which the alka 1 coca e rer te : power—in ther word > ma them long winded so that they could run far ther and faster, and give them | greater powers of endurance by vir tue of their stimulating effect Nowadays, the race track gam bler, when pulling a crooked very often uses a solution of cocalr which he injects into the racehorse, (He is a phy by Various methods, in order to stim im to greater peed for the coming event This etimulating ef feet ont ete & certain length ft time, but these gentry have it umed to a fraction of a minute In meticine cocaine is one of the most valua rugs we have Tonsils are moved almost entirely under cocaine anesthesia, altho th nix under cocain ve removed th When used by the de the most virulent of These fiends " flend it OMe pores of obsexsions and morbid impulses What Is an obewmn Normally jan idea, a sentence, an im may unexpectedly our m snd y. It ts sufficient ine our will to a cer t and make this phenom ” tain ext Did obsessions, and do r end morbid impulses, B obnemtion remains fix mort About nine years aco. a doctor whone offices were on Second ave came into my office and asked me te j examine bis ¢ye to see if I could remove bugs that were annoying him. 1 assured him that there were knife—an he thought. This doctor was a coke fend, and injured his eye, so that today he ix blind in this one particular organ I have known a coke fiend, labor ine under the hallucination that bugs were crawling in bie arm sit for two or three hours wicking them out with a sharp-pointed In r macerated and w have known a coke thinking the police were after him about dope fiends Imagine the po A peculiar thing Is that they alwa lier are after them Of course this obtains more en | \ pecially with those who have com-| ‘mitted crimes In the very nature of things, the authorities keep tab on them, and they are atways foart of arrest, and are continually dodge ing the potice. In a later article I expect to be able to explain how mont of these individuals can. be re | etored to decent citizenship and thus he refleved of the awful fear of be ing enmiashed in the nets of the law soe Opium smoking Is the least harm ful of a But what is aance for the goose \ Jack Would Paint Women’s Silk Hose Okla., April 12—If « tiet has his way about for wotnen | will make an appearance here soon MOSKOGER, it, hand-painted slik he According to Jack Brown, the ar eh nted. dersood, has been pat 16 years EXAMINATION (REE work guaranteed for is years, Have impression taken b Examination and advice free en coming to our office, be sure sb ahaha ae } You can’t get a shot of R. H. Thurston, whether you be sick nade that clear by nailing a sign 1 p on hits office door, which reads, “You can't get a prescription obeying th When our Uncle Since writing bury telephe: ng questions ae an authori portant ques APPLES Retail and Wholesale Cooking sed Bating Making auty Apples Wholesale and Retail These apples will be represented by a J but he 1 mit SALE BY THE UNITED STATES te NAVY OF SUBMARINE SEA-GOING—CRUISING— MOTORBOATS Sab-Chasers the dope habits. Many of the Chinese smoke from childhood Sub-Chasers, FY Sub-Chasers, perfected a process which | Sub-Chasers, nable him to paint pictures on | slik stockings with no Jil effect to lithe texture. The process, it is un-| Sub-Chasers, im, Key Went, # Sub-Chasers, Sub-Chasers, 296, now in tw Sub-Chaners, ined from the Comman he| | Preferred Stock nd preferred in the ferred stockholders to and accrued dividends sively for the p Preferred Stock the open market if be retired by lot at the cal erved dividends The Preferred purchased and retired, not to be \ date Preferred Stock to calla : ; Uniers the net earnings available for ble on any dividend date after thirty days ine payment of preferred stock dividends for the preceding twelve months have been at least equal to three times the divi dend requirements on the outstanding preferred lock plus the proposed at to be inmued. FIFTH That the preferred and com mon stock to be issued shall have the voting power for each $10.00 par value thereof am exiats $10.00 par value No dividend shall be declared mon, or paid on the Common Steck plue of the Cr 6; there shall be in the aur st ; actor provisions af- any an amount sufficient — fecting to pay three years’ dividends on all Pre (©) onnolidation, ferred Stock outstanding; mortgaKe ) of the prop (b) Unless th ment of much dividends shall not be less ferred stock plus accrund dividends AR.-MONDAY, APRIL 1920, In 1992—eighteen years ago—the berry growers of the Puyallup Valley organized a co-operative market- ing organization with a capital of $8,000.00, known as the Puyallup & Sumner Fruit Growers’ Associat Very little headway was made by this organization until 1908, at which time a canning plant was estab- lished for the purpose of relieving the fresh market of berries too ripe for shipment and any surplus fruit that was delivered from day to day. Starting with a membership of about 70 growers, it graduajly grew to a membership of 2,300 by January 1, 1917. Ninety-eight per cent. of these growers owned one share of stock in the organization, costing them $1.00 per share. No grower was permitted to own in excess of 15 shares at a total cost of $15.00. Two per cent. of the members hold 15 shares each. From 1908 to December 31, 1916, this farmers’ organi tion, on a capital of $2,700.00 acquired an undistribujed sur- plus of $113,000.00, During the year 1916 the volume of busi- ness reached $2,000,000,00 The Directors of the Association felt that it was necessary to p some organization whereby sufficient capital could be had to conduct the fast-growing industry on a safe and sane plan. During 1917 the Directors arranged to organize the Puyallup & Sumner Fruit Growers’ Canning Company with a capital of $690,000.00 $300,000.00 of which was Preferred Stock and $200,000.00 Common Stock n The Canning Company purchased from the Association the mano facturing end of the industry andthe mercantile department, consisting of two retail stores handling groceries, flour and feed; one store located at Puyallup and one located at Sumner, paying to the Association $50, 000.00 in cash, $50,000.00 in Preferred Stock and $50,000.00 in Common Stock. This results in practically every grower of the Valley being a stockholder in the Canning Company. The other $500,000.00 capital of the Canning Company was placed with friends of the organization in the Puyallup Valley, in Tacoma, Seattle, Spokane and elsewhere. In the distribution of the $150,000.00 of cash and stock received by the members of the Association from the Canning Company, a question arose aa to the distribution. The entire matter was presented to the Superior Court of Pierce County for the purpose of securing authority to make a distribution of the earnings in a legal way. The court decided that the distribution should be made based upon the number of pounds of fruit that each member of the organization delivered during the period of deumul. resulted in the distribution last rd at Puyallup, of $152,050.00 to the growers belonging to the Association. In other words, a distribution of earnings of this co-operative Yarmers’ organization consisting of $152,050.00 on a capital paid in of $2,700.00, or about fifty-six times the amount of the capital i: ’ This in unusual from @ co-operative standpoint, as many co-operative organizations have not only not made a profit but have, on the con- trary, made a signal failure. At the growers’ meeting held in the High School Auditorium at Puyallup, Saturday, April 3rd, Mr. W. H. Paulhamus, who is President of the Growers’ Association and also President of the Canning Company, explained that in his judgmer% the Canning Company was about to in crease its capital stock from $600,000.00 to $1,500,000.00. That the new stock should consist of $700,000.00 of Preferred Stock and $200,000.00 of Common Stock; that the Preferred Stock would be cumulative and draw dividends payable February Ist and August Ist of each year, based upon the earnings to January lst and July ist, preceding; that no dividends would be paid on Common Stock until there Was an accumulation of three years’ dividends for the Preferred Stock. . Of the increased capital stock, President Paulhamus explained that tn marketing stock of this kind it was the usual custom to pay a large commission to the bond houses that sold such stock, but in this instance it would be the policy of the Canning Company to place the stock without the assistance of any bond selling company. This would enable the Can ning Company to give to the purchaser of stock the commission that is usually paid for the distribution. That it was the desire of the Canning Company to place $1.00 in the treasury of the Canning Company for every dollar of Preferred Stock that was sold instead of 85c to 90c, which is very frpquently the custom, and in order to omplish this result the Canning Company would offer 20% of Common Stock as a bonus for every share of Preferred Stock purchased. Both the Preferred and Com- mon Stock are $10.00 per share, and both have the same voting power. CONDITIONS OF ISSUANCE stock shall be issued without the consent of the outstanding preferred be cumola ts and divi olution pre ited to par Unless all dividends on outstanding vare preferred stock eball be paid in full to vent erred an ommon stock without consent of the of the total capital stock th preferred and com- erty and bu entirety: (d) Create any # of stock having priority over or rity with the present authorized preferred stock (e) Create any mortgage or other lien pany in their net aawetn after the pay 4 the net liquid assets not of the outstanding pre (ce) Unless the requirements for wetting pon ita assets or pormit any subsidiary awide 10 of net earnings for redemption of ompany so to do other than purehase Preferred Stock have been satisfied 19 money mortgages to the extent of 76% of | . purchase price of the fixed assets #0 pur- That no additional preferred chased A Message to the People of the State of Washington The Common Stock will eventually be in control of the business, as the Preferred Stock is to be redeemed by paying to the owner a premium of 5% on the Preferred Stock in addition to all accrued dividends at the time of the call. After the Preferred Stock is all taken up, the assets of the company will then belong to the Common Stockholders. In forty minutes’ time the residents of the Puyallup Valley sub- seribed for $i%.000.00 of the new stock. This means that the growers secured $105,000.00 worth of Preferred Stock and $26,250.000 of Com- mon Stock. At this same meting Mr. Albert J. Rhodes, formerly Presi- dent of the Chamber of Gommerce of Seattle, as well as one of the most uecessful and hard-headed merchants of the city of Seattle, stated he and certain associates, business men of Se , would subscribe for as much stock in the Canning Company as the farmers of the Puyallup Val- ley subscribed for. Therefore, Mr Rhodes and associates subscribed for $105,000.00 worth of the Preferred Stock, which carried with it 20% of Common Stock. This means that there will be placed in the treasury of the Canning Company $105,000.00 of Puyallup Valley money and $106,- 000.00 of Seattle moncy. Out of the unsold portion of the increased capital ft is the desire of the Canning Company to place about $200,000.00 additional. This stock will be offered on the same terms as to the Puyallup Valley growers and to the A. J. x’ associates. We are now offering to you the balance of this stock at par for the Preferred Stock, which carries with it 20% of Common Stock without any cost. Th means that the purchaser will receive a 7 tock which will cost par and will also receive one-fifth as much in Common Stock at So What you desire to know is the desirability of this stock as an im- vestment It in a well established fact that the successful manufacturing plants of the United Statees during the past five years have been those manu- facturing the staple lines, at the head of which is the MANUFACTURE OF FOOD. With the present shortage of food the opportunities for food manufacturing plants have never been as good umner Fruit Growers’ Canning Company is a goit periment. It has been managed by Mr. W. #1 F hamus since 18 years), who will continue to do so. The business has been highly successful. In fact, the profits for 1919 (last year) were $220,000.00 1 of $600,000.00, after paying dividends on the Preferred Stock and taxes, which left a profit of $181,358.59. In truth, the Common Stock, which is now offered as a bonus to the buyer of Pre- ferred Stock, is worth par the day it is issued. * The total volume of business of the Canning Company for 1919 was more than $3,000,000.00. One year ago the Canning Company decided to place upon the market a one-pound package of jam designated as “Paul's Pure Jam.” Very much to the surprise of the management more than $1,000,000.00 worth of this jam was marketed the first year it was of- fered. As a citizen of Washington you are interested in the development of such as will enable the land owners to not only tlear off the lands, but to make a profit on this high priced land after it In the production of Rhubarb, Gooseberries, Strawberries, Red Ras} berries, Loga’ ries, Blackberries and c rtain tree fruit, that can be i for jam making purposes, it means intensive farming. To market .s after they are raised, we need a big, strong, well conducted canning plant. For this reason the berry growers of the Puyallup Val- ley are offering to the citizens some of their increased capital stock as an investment so thut they may help the balance of the state take care of the greatly increased volume of fruit that is now being planted. Subscriptions for this stock will be taken at the office of the Puyallup & Sumner Fruit Growers’ Canning Company at Puyallup, Washington, either in person or by letter, bat if more convenient to the purchaser all money can be deposited with the follqwing banks with which the Canning Company does business: At Seattle, The Seattle National Bank; at ‘Ta- om: he Bank of California and the National Bank of Tacoma; at Sum- ner, The Fagmers State Bank; at Puyallup, The Citizens State Bank and the Puyallup State Bank. During the month of March, 1920 (last month), the stores belonging to the Canning Company had a total volume of sales of over $65,000.00; ail sales made for cash only and no deliveries. This is a rare opportunity for investing surplus funds, Undoubtedly we are the largest food manu- facturing plant in the State of Washington and the purchasers of the in- creased capital stock are not requested to pay any premium for good will, and every dollar invested in stock goes into the treasury, no cofumissions being paid. A letter addressed to Mr. W. H. Pauthamus, President, at Puyallup, Washington, covering any inquiries will be cheerfully replied to. We appreciate that this is an unusual way of placing stock, but it is the unusual that sometimes wins. It is a short cut to one of the best in- vestments that can be made. * The chances are that thie business could be sold to other canners to- day for a premium of a sufficient sum to cover all ef the new stock that is now being offered. PUYALLUP & SUMNE FRUIT GROWERS ANNING COMPANY By W. H. Paulhamus, President VAGE 17