The evening world. Newspaper, August 26, 1919, Page 10

putt i -” J i gees tt i 8 af i 5 g a nin er ' T MANUFACTURERS KEEP ENTIRE PRODUCT. only thie, but now even the have gone into under the hag a the: r v4 any fluid milk at all to “public if they don’t want to. manufacture feeit § 1@ AND FIMANCIAL. You] INVESTORS. Will Show You— KEEP YOUR EYE ON CU-MOR CHEMICAL first patent medicine, stock traded in on the open DW ON 8% DIVIDEND BASIS 7 Wall St. | for highly profitab! Pounds of almond cubes, caramel bas no ion as to a euffictent Tk at @ low price. that besides the be Products are permitted to sent away from this State, with a “ey to ports, all the "products bo sweet: | ened mi a sale. amount of &: quid milk in maki ¢ lm Jost wee wi Zpproximately half ‘the number of pounds of ‘mil whieh the consuming in Lge te! su‘ficient euite we are practically | je use condensed In this condition of things the peo- ple are ly using by-products (or surplus) for their daily needs in- stead of the original product of fresh fluid milk, CHEAPER MILK, MORE CON- SUMPTION, BETTER HEALTH. If fluid milk were sold at @ lower price, the average family would pur- chase re and the surplus would likely be consumed by the children arid otherwise utiliea in the home to the resulting health of the commu- nity. As it is, the price being high, the family naturally the most eco- nomical method of using milk and most of ped oe | families use noth- milk, until the fall, when it ag forth tinned resented the names’ of a resen' ries of the. Borden. Milk olty, 7 rey m Pounds of uid mille And with this withholding of the milk from the peopl the le wonders why uid sold at a outrageous example is the Nestle's om, which it is estimated is ui more _ by-products corporatto ‘orpora' manufact than the Boi est company) the only control tl uid milk that to the consumer, but they control the canned milk that goes to the sumer, and as It stands to-day, they decide how much they will give to in Suid milk and how will put into cans and products, and the profits of the whole production are not re- garded as @ whole, but in separate rte. Wo LEGAL CHECK ON HoaaING bet constant ith Ursin on the wslllerpred the: State for” by-product Gs tat S99 basi high priced ry of any one corporat lower ried milk obtain we @ fair return if ta Wy tres ra mgorle purpensly annie ries iN sed for.’ - be ony Be pecd for. theee promt bein, the contracts in sthad ‘weeta: Weta at Uh In other wo in milk being sold at @ low priest the consumer arom’ dest it sold—and then the remainder itt the reverse in true, Buttor and cheese are figured w before fluid milk; so that, ‘unless something is done by which these by-products are counted together with the sale of fluid milk or in some way apportioned, the price of milk will be constantly high and the sup- ply iimited, especially as foreign markets are constantly being de- veloped for these by-product There ts no existing statute gov- erning milk production in this State, except common sanitary regulations, and this has led to a constant diver- sion of fluid milk from the daily | consumer to condensing plants, con- | fection factories, butter for foreign i trade, &o, | BABY'S MILK GOES INTO PROFIT- ABLE CONFECTIONS. ‘Milk produced in this State is not ‘BANKING AND FINANCIAL. y-P! For example, in the confectionery department of one of the milk companies, the capital invested is in plant and machinery, & working capital of $400,000. 14 is stated that 25,000 to 30,000 im bars, cholocate have produced These products are more and tore nervashing om the supply of fluid milk, and there is no way by whieh corporation has terests, A ‘aistinet fala milk concern is rare. ‘That is to say, the milk manu- facturers, if they find foreign markets fog milk products as they are now finding for butter could, with suffi- stent funds, buy almost the entire production of milk In this State and =" tor purposes than ‘There is mo stoppage, legal or Nearly all of the fluid milk selling rations operate es a -product enterprises, jc sesorgi to them, take care of the “surp! mitk. The profits of none of these by- presi are figured in ae entire- ly distinet ions of the milk Industry, According to the present milk there fs no t milk, is made available 5 Le th “yr +3 mere. in the lating power anyw! A illic inauntey, ‘The entire milk pro~ duction of this State could be used for manufacturing purposes without Pas af the 4 to the cons ner. ¢ of the most prominent dealers ‘ventured the belief that all fluid milk Produced in this State should be gold ae fuid milk in tl State. He guve it ag his opinion that this is bound to come, As the cty grows the pub- lie demand for fluid milk will be such as to drive manufacturers of milk elsewhere, which ought to be the case, where there is so much congestion and milk is such a necessity. ‘When ‘asked why this could not be done now he stated that the demand yet reach to-day the consum} mendously higher than it is now. ‘Why, then, is there not some statute ‘that will compel a sure, constant su ply of low-priced milk first, as prime purpose ef milk production in this te, and then use the over-sup- oly je the by-products? hy should not congested areas of bec saa be protected to this extent? HY THE FINANCIAL METHODS OF BORDEN COMPANY EXPLAINED. How readily these Mi /aba agen) it apportioned over the fuld milk, would juce fluid milk and at the same time produce a» fair return for the milk corporations, was clearly demon- strated by the Wall Street Journal at the beginning of this year, as follows: “Borden's Farm Products Company was organized to take over the farm products division of Borden's gon- densed Milk Company. The » ties company owns $3,500,000 prefer: $10,600,000 common stock of the sub- aid ' # total of $14,000,000 is the) amount at which the tangible assets of this branch of the business were) valued when the company wae leery ci basy the ra} jualled about 6 ‘om year eqi al cent. on the capital stock,’ oF around $700,000 and less than 6 per cent, on the capital actually em- ployed in this division. Nothing of these ¢: was distributed as dive jdends peewepares ‘of Borden's Com> densed '. “Subtracting "100,086 earned by the farm Ween division from $3,200,000 earned by both divisions applicable to! common stock, there is left 000 ted earnings of requi ont rate of 8 per cent. on the common, Percentag profit on gross sales of Boi 's Farm Producta Company |s ite of je have been remarkably froe om fluctuation, and this has pecn reflected in the steady dividend rec ord of the company. Farnings have, on the whole, tended upward, “About thirty-six pl by tl Conden: Some Ys stock is closely held and the regarded b; wever, ferred is about 97, and for the common about 8, the high yield from the common indicating that in- vestors are elther not conversant with the affairs of the company or .ear the results of popular agitation against hi; price of milk on the profits of busine es GRAIN. Range for day at Chicago: CORN, WS Wbaliae » Soot, 4... 180% wae td +) 188% OATS, nog eB EHR ry + Sb OS 40.05 — 2 aR Octeor ... Trooreiaber Tacmary dares fiuid , encouragement 12-point rise which Crucible scored, or the advance of 3 and4 points and it must, in conscience, take a a position against general increases in wage levels “While the present and ‘Thia, it is felt, will tend to fortify the position of steel manufacturers are called upon to agree demands of employees it is expected, will soon be versely, it is expected wilt of the workers. Samuel Gompors returned from Eu- Wall Street expects he has bad an opportunity situation end gets a the public generally demands for he will advise great many of the abandoned operations when situation became so ominous, agai marked up the prices of their favor- itea without meeting with much op- . position in the way of liquidation or profit-taking. Money rates ruled at 6 and 6 1-2 per cent., but these comparatively nln rates did not restrain’ optimism, Brok- ore Bs te ide t 4 peculat scarcity ind for 8 ive poss te not due to Gtock Muchengs activity and that the bank statement to be issued next Saturday will again show @ large surplus reserve. DIVIDENDS. Central Leather Company—Regular quarterly of 13-4 per cent. om pre- ferred, payable Oct. 1. rent}: Total sales stocks, 993,600 shares. 2-23; Golden Gate, 2 7. Registered, |—$; Asphalt, 14-76; Hupp Motors, 41 1-3; South American Gold 81-20, 99.02, off 06; lat 40, 94.20; 24 pr tin 4s, 92.88, up 12; ist 41-49, 94.22; 24 41-49, 98.98, off 02; 34 41-40, 94.20, off 10; 4th 41-40, 98.14, off .06: Vic- bet dag 99.56, off 08; 4 3-42, 99.52, | Ui Orts On THE CURD, Opened firm. Sinclair Consolidated, 64 1-2-89; Sinclair Gulf, 68 3-868 3-4; Victoria, 2—2 1-4; Island Oil, 6 9-4— 67-8; Voloan Oil, 12-18; Common-| U = Glenrock, 4 3-4-8; Queen, Burk. Van, 11-4—-1-8-4; Salt i, 65 1-266; “Lavington, 2 3-4— » 6246; Houston, 108—110; ‘24; Internat! Petroleum, 29—20 3-4; ‘Boston: Wyom- ing, 6769, Two P.M. prices: Cities Service wok 4“ 3 at, fan. 1, idge, 83—85; acco Exp. $11-2—83; General Asphalt, 75 —16; Am, Ship., 37—87 1-4, mY MONBY, ? | Call money, both classes, ¢ per cent. Sub-Treasury’ creditor at Cl ct 951,620; Federal Reserve rte J creaher 2,063. ir $89, EARNINGS, bgt ‘Third week Au- 4,4 inc, $432,000; from }99,199,000, inc. $8,480,000. Rochester & ‘Pitta uffalo, Third week August 3287, Net arnt taxes for the fret halt of this year are $79,000 against otis 000 a year ago, Camels hand out keen enjoyment! Your real appreciation of cigarette satisfaction dates from the hour you begin smoking Camels! Camels will win you as they have won enormous numbers of smokers throughout the whole civilized world! Camels are unlike any other ciga- rette—entirely a creation that has proved a revelation to smokers. They are so refreshi~g in flavor, and wonderfully mild; yet, Camels have “body” that exceeds your most exact- ing demands! Camels charm is due to their quality and to their unusual and expert blend of choice Turkish and choice Domestic tobaccos. Once you know Camels you'll prefer their expert blend to either kind of tobacco smoked straight! No matter how liberally you smoke Camels they never tire your taste. And, they never leave any unpleasant ciga- retty aftertaste or any unpleasant ciga- retty odor! You'll prefer Carnels quality to pre- miums, coupons or gifts. j.crease of $303, Camels are sold every- where in scientifically eealed packages of 20 cigarettes; or ton pack- @ (200 cigaretios) ia vered ine + +00 pir or when Jou travel R. J. REYNOLDS TOBACCO Co. nN ee