The evening world. Newspaper, June 28, 1912, Page 10

4 wee SY . THE EVENING WORLD, FRIDAY, JUNE. 28, BANKING AND FINANCIAL. | BANKING AND FINANCIAL. uh BANKING AND FINANCIAL. 4 ‘American Institute of Electrical En+ WESTINGHOUSE GETS gineers. It was recailed that the alter- os ® THE EDISON MEDAL. | nating current, wien introduced to the s 0 I T, D M f This ; RRO vorid 1889, tacked b: by or Inveniord. Honored for Eletical| eaiamiegermcaes wneeals UIMY J Wo Days More 0 Feat Edison Once Attacked q as Impracticable. ROSTON, June %—The Bdlson medal sued for “meritorious achievement in elec-| yenterday in the Supreme Court hy Al- trical actence’ has been awarded to! vin 1, Strasburger for $410 for jew- George Westinghouse, Ho was granted | eiry pure 4 by her in December, — United Cigars?” \ Are great Manufacturing and Retailing enterprises to attract the. accumulas tions of capital which formerly sought investment in Railroad expansion? WHY Dow, Jones & Co, - BULLETINS ? Wall Street gets most of its financial truth, and gets it earliest, through the Bulletins and Page Printing Machines of Dow, Jones & Co., who are recognized as the leading collectors and distributors of Financial News in the United States. WHEN THE DOW-JONES BULLETINS PRINTED A DIGEST OF THE FUNDAMENTAL PRINCIPLES UNDERLYING THE ORGANIZATION OF THE UNITED CIGAR STORES CO. THE STOCK WAS SELLING AT:‘UNDER $210 PER SHARE. THIS WEEK IT SOLD AT §259. No Wall Street man can afford to be other than a close student of the Bulletins +of Dow, Jones & Co. ble and deadly. Consider what this opportunity means! Only 50c cash and the it because of the part he played in the 9, from Robert Acker, who is now attached coupon enables development of the alternating current |g bankrupt, Strasburger Was appoint. a . a s 6 H H / © system for light and power. ot tees le Meanraptey by the g you to buy the finest rust Tacks Another Gent-on " Beef and Sheep—Citizens’ Fish Market Rushed. The medal was presented to Mr. West trnited Staten Court. grades of guaranteed Ing@house last night at the dinner which Mrs, Thaw was served with the furniture on the closed, at the Hotel Somerset, the'summons and complaint in White twenty-ninth annual convention of the Plains. est terms, in any ‘ aa amount from $5 up to $200! ra “TIZ Reminds Me of My Barefoot Days!”’} “My Feet Never Get Sore, Tired or Chafod Now, and | Have No More Corns or Bunions, Because | Use TIZ,” Bend for FREE Trial Package of TIZ To-Day. Bilother boost to the wholesale price ot fresh meat in Greater New York. Beat went up a-cent a pound. } The Beet Trust to-day gave still | * Bheep, too, were advanced = cent @ Friday, June 28, E,W. | egg ke this coupon to any of our salespeople; sclect your goods in any ¥ amount up to $200.00; then pay fifty cents cash and your gcods will be delivered to your home promptly. Furniture, Rags, Beds Ludwig Baum: 144-146 W. 125¢ dealers, there e the packers’ Acvording to the mi 6 no limit to the combine is now pi with the public. Wedk after week the price has kept rigit A UP uNttl consumption of cattle and @heep is now down to below 1,00,00) pounds a day in the Greater City. The t @earcity of live stock, according to the = fe unprecedented. At Washington Market to-day round @teaks sold at retail at ™% cent pound, sirloin at % and porterhouse a I Loin chops of lamb were % cen @ pound, trimmed mutton chops w cents a pound, leg of mutton 16, Cutlets %, veal chops 2% and veal 16 cent ‘With 2,000 perso ‘fgnd only 1,000 poun: ‘Thomas A. Fulto tee's new public Ash marke! Mhaupural yesterday, under the Man- The following is an example of the analytical articles that will often be found fiatthn arch of the Queensboro Bridge. ‘There were three kinds of fish on sale— therein: « tsb at t cents a bound, and fakes RETAIL STORES AS INVESTMENTS and flounders at 6 cents a pound. They bh. i : Wz wt She dda 1 aad etiard Buffet, jg (From the Dow-Jones Bulletins May 20th, I9!/2) 14.48 Until recently railroad transportation was the expanding | Trained watchmen with automatic counters number the business of the United States, absorbing the major portion | passers-by and value them as respects possible customers. $29 9 for $46 Six-Piece Early English Dining Suite, like illustratio of the accumulating investment funds of the country. Now| Thus fundamentally the United Cigar Stores Co. has a grasp a ° consisting of good size Buffet, like design, with French bev ' capital is turning steadily to industrial enterprises. on real estate problems such as is possessed by no other mirror, swell centre drawer, etc.; six foot Extension Table, like design, and , " 1 : institution 1 Zs Chairs, with genuine leather slip seats, with full box ba i President Whelan, of the United Cigar Stores Co., to} institution in the country. —— aes COMPLETE HOME OUTFITTINGS in Early English Oak All 6 Pieces “What You Thinkin’ About Grampa?” ‘ fai EEE, AMERICAN SURGEONS TO ;TRY TO STAMP OUT PLAGUE. ————. \ JUAN, Porto Rico, June 2.— medical officers will direct the} wry 2 to stamp but speedily the bubonic Nothing wound mites te or bunto! : Surgeons Lieut.-Col. feraon | even when I'd run around barefoc on an old Major Frederick ¥. Russell TI% gives instant lef and cure all Lieut. Frederick H. Foucar of the K Mn t it prin no corns, callouses/| they are boy's feet . which the Supreme Court has just given a clean bill of health This may’ be illustrated by a recent incides - } 10P.M. During July and Aug.we close Sats.at 6P.M. | py forcing out the American Tobacco Co. and twenty-eight | necticut. An agent of the Cigar Stores real len v4 co-defendants from ownership therein, tells his friends that} ment valued up scientifically an idle property, leased it from manufacturing and retailing are the only lines left for profit- | its wealthy owner, cut out the section desired for a store, able enterprise. and rented the balance, so that the company had its store He has backed his opinion with his fortune and pur-|rent free and $1,500 per annum besides. chased from the defendant litigants all their remaining] Jewelry stores, restaurants and many other forms ‘of United Cigar Stores Co, shares at under $200 per share, thus] business are occupying property owned in fee, or under assuring himself practical control of the business he has |99-year lease by the United Cigar Stores Co. The company been all his life developing. i knows exactly the value of such locations to its own ousi- . | tired or Creel, formerly stationed at Providence, and Dr. Charles Williams of Boston, of | ™, Public Health and Marine Hospital eS + «} ry Meet 9 for my poor tires eet, for those bunior ff 20 years, have CoEUTed from ee ee ee ae en ee sac wrinkles to my f I've tri po: salvee—and t TZ A Mighty Sale of 3,000 Men’s Serge Suits When Every Man Is Thinking of Hot Weather Comforts 144-146 W12S™ Sr. near 7UAV. as i Lord & Taylor Founded 1826 Specials for Saturday Fancy & Plain Tailored Linen Suits including the new Norfolk model, in all the most popularcolois. Some with white collar and cuffs others with eponge collar. $7.50—Values to $12.50 Tatlored Suits of Men’s-Wear Seiges, Whipcords, Homespuns and Stripes $10.50 €& $17.50 Formerly $19.50 to $30.00 Wash Skirts _ of Pique and Repp Values to $2.95 $1.95 What his profit in.the future may be is not of such general interest as is a valuation of the business principles which enable this company to cut the prices of standard goods 15 to 20 per cent., proclaim that a nickel in the dollar is all the retail profit it seeks, and yet maintain the faith that retailing is to be in this country one of the great bases for investments. The principles under the United Cigar Stores business appear to be these: 1. Make your directors your partners, pay them ‘a percentage of the profits, bu: only from the growth of the business; and permit them to have no other business life or thought. 2. The business thust be of such size that it can command the lowest prices at wholesale and sell at the lowest prices at retail, making the quickest turn- over and insuring the freshest goods; and can also command. the best brain staff in every department from store renting and furnishing to counter work, where every lost motion must be eliminated. 3. Capital must be maintained requisite to meet every problem of change or growth, A study of this field becomes important to financial, in- vestment and business interests, because therein some of these principles appear to have reached their highest development to date. The old system was to raise capital by the credit of names of directors, who engaged men to superintend the work of others. A third or lower degree furnished both the labor of brain and hand. With the tremendous accumulation of capital throughout the civilized world credit is fleeing great names and passing to craftsmanship, which means the combination of labor of brain and hand. The late Marshall Field forced his partners steadily out of the business when they had accumulated an independence. J. P, Morgan said the difficulty in the U. S. Steel Corpora- tion was to find a president who did not require all his time to spend his income. The business of the United Cigar Stores begins with an organization of forty to fifty real estate experts that it has taken years to train, This department costs $200,000 per annum, These experts study desirable business locations. Dow, Jones & Co. Bulletins are in all well-equipped financial officée ; ness, and if anybody else can afford to pay more he can have the premises; the cigar store moves elsewhere, and the company keeps the real estate profit. The real estate investments of this company stand on its books at $245,000, An offer of $10,000,000, or the entire par value of the corporation shares, would not be looked at, It is this real estate investment which it is now planned to capitalize at $10,000,000 for the benefit of the stockholders ” and expand by sales of bonds in Europe. It will not, as has been erroneously reported, sell the same to its stockholders; for the company is in no need of money, It is said to have at times more than a couple of millions in cash on hand, The United Cigar Stores Co. aims to turn its busi every fortnight and the central organization knows a daily demand for every brand of goods. The central warehouses are not permitted to keep over 15 days’ stock. Little need has‘ the company for capital, considering that it sells for cash; but like every business it can find uses-for reserve funds, and especially when it is doing a tremendous real estate business that must necessarily, for purposes of econ- omy, expand beyond the lines of its own trade, The United Cigar Stores Co. can claim no credit in In- vention for the economical size of its stores. This was an adaptation from London. In the old days a retail! merchant took most any kind of a store that was cheap enough and big enough. Space seemed to have value irrespective of what use he might make of it. If his store was wide, or deep, he spread out his stock or dressed up empty cases to give an appearance, little dreaming of the economic waste in the handling of goods over large store spaces. But should the United Cigar Stores Co. purchase or rent 100 feet of frontage and 150 feet of depth it would cut out of that space exactly the cupic space needed to do its business without any lost motion of human hands or feet. It would consider it the highest economy to throw away the balance of the space {f it could not be rented. On this principle a London tobacconist multiplied his stores, and to occupy vacant spaces restaurants were estab- lished where expansion could be had in the rear of street entrance. These are now worth $25,000,000 in the city of London alone and sell on the London Stock Exchange as the, Lyons Retiarants, Limited. It takes time as well as talent to develop such a. busine: as the United Cigar Stores Co. is now upbuildiieg, but the future here should be watched and studied by business and investment interests; for President Whelan may be right in his faith that manufacturing and retailing are to be the basis in the future for the profitable investments of this country, f ‘And mind you, these Serge Suite are different they're the kind Watch for them! that hold shape and make a man feel proud of his appear- ance and elwoys cool and contented. That's the real differ- ence between Vogel Brothers Serge Suite and the usual kind. ‘ $16.50 SERGE SUITS AT $12.75—Blue or black—a qual- of serge that we guarantee not to fade or wear ahi ha iny— « fraly wonderful lot of suits offered in this rousing sale = $19.75 $12.75. agi SERGE SUITS AT $15.75—In this handsome group ) : of blue and black serge suits you'll find those crisp, smart, \ $ ’ » Jong roll two-button models and the more conservative three- j @ ( button styles—the best serge suits ever offered at $15.75. $25.00 SERGE SUITS AT $19.75—Aristocrat: Serge, ee kempacament of a thet in, itmart and die 1] $19.75 ( In every line. ‘ full lined—a rare good cole at 319.75. oF Sarna ar) - VOGEL BROTHERS 42 st. at S Ave. Open: Late Saturday Night. Broadway & 20th St.; 5th A’ 19th St. 44 Broad Street 5% INTEREST ts from $10, to $3,000. Bepocitemade on ot Sefore duly 1S, drew +H to O00. ‘om deposit with the State of N. ¥, Sabine by mafia tacet Your convenience Callor wiieler boo let. Tel. 1234 Beekman CLARME BROTHERS, Bankers 164 Nassau St. (Tribune Bicg.) Est. 1840 We Give Double a %A/." Stamps With This Advertisement lin MAKES LITTLE DIFFERENCE WHAT YOU NEED— ; 4 WORLD “WANT” 4D. WILL GO AND: GET i) |F you want your “‘busi- ness’”’ to become the talk of the town, tell about | it through a World “Want” 4.939333 Study them! . Dow, Jones & Co. Publishers of the Wall Street Journal The Largeet Financial Circulation in America Cc. W. BARRON, President. Telephone Broad One “business” to become the talk of the town, tell about it through a World “Want” Ad.