Newspaper Page Text
.■rnM-snVV
NOVEMBER 22, 1922
THE ATHENS DAILY BANNER, ATHENS. OA
- , . i .*• '
PAGE FIVE • • • •
The Weather
Fair tonight
st tonipht.
tonight and
: the interior
FOR RENT — Two unfurnished
I rooms. Can also accomoqpte
! hoarders and mealers. Close in.
Apply 185 Hull or prion® 1824.
n-22-c
tonight
iMy showers
i?*rhtly cooler
tnd
FOR^-ffENT—Three unfurnished,
connecting rooms. Private en
trance. Suitable for light house
keeping. Apply 564 Boulevard.
n-24-p
irht; frokt in
ay Cloudy.
IN COMBINATION
Banner—Morning
Herald—Evening
2 Cents a Word
Inlrmiri < nar** of 40 cent*
for tb* price cf ? 1-2
Seven times for the
five Insertions.
itt*r tnve«t‘irate today, Call
Tslsphana 75 Ads
THE
Ibanner-herald
: Special Auto Bargain
, 1020 Cleveland, three passenger
j roadster, perfect condition, bump-
! or. stop light anil extra tire, cost
$1500, take $500. Phone *58 nights.
n-23-p
j KG It SALE—Fine ehrysanthemu/htf
from 50 cents to $.!.nn per dozen
! Mra. J- S. Hale. Farmington. Ga., n-
t’hotte Watkinsville 701!. n-23-p
FOR SALE OR RENT—17
Acres gone! land, .1 room
hottr;e and barn on highway just
out City Limits.
IJ. G. Anderson & Co.
221 1-2 Clayton St. l’honcTl
Announcements
FOR ALDERMAN
I announce myself a candidate
for Alderman from the Third Ward
of the city of Athens, subject to
the action of the Democratic Prl.
mary.
J. H. RUCKER.
I hereby announce my candi.
dney for the office of alderman of
the Fifth Ward suhje t to the
rules governing the democratic
primary.
VINCENT MATHEWS
Market News
By Associated Pres* Leased Wire
Yesterday’s Complete Market Report
UP TUESDAY WITH
25 1-4C
BAR SILVER
NEW YORK.—Foreign ilinr sil-
cr 65; Mexican dollars 49 5-8.
I hereby announce my candidacy
for re-election to the office of at-
Herman of the Second Ward, sub-1 American Can
Ject to the rules governing thi j Am. Car and Foundry
NEW YORK STOCKS—
LAST SALE
Allied Chemical and I)y
Ailis-Chalmers _
Amer. Beet Sugar, bid
WANTED
rind
gen-
r in :■ ii• 1 hoard. Also
I : i!ets. Excellent
« Washington street.
n-22-p
Co., near Herald
tas Street. Imvs hides,
-;\vrr. Hides tanned
1 tap-robes, rugs or
d-3-p
I'OR SALE—Wood and Shingles.
Fitouc 500--Henry Comer.
n-2S-c
FoR SALE -Mahogany
suit. bed. dresser, tires'
chiffonier, chifti.robc.
two t hairs at a real
priyc. fall is«5s Mon
FOR SALE
•slightly It
Durden, ir,!t Clayton St
high grade plana
democrat' - !; primary.
K. A. HILL
I hereby announce my can*
i daey for re-election to the offici
of alderman fronr. the Fourth
Ward subject to the rules of the
democratic primary.
C. F. CRYMES
I itcreby announce my candidacy
for re-election to the office of
councilman f-uni tho First ward,
subject to the rules of the demo,
cratic primary.
R. T. DOTTERY.
FOL ALDERMAN
I hereby announce my candidacy
for the office of alderman from
tho Second Ward, subject to the
ectiori of the Democratic primary
to ho held November 22nd.
* R. H. WIER.
II.
22-%
.123%
. 45 Is
. 65%
.141%
.. :ss%
II-28
Experience
itek before
RAILROAD SCHEDULES
— | SOUTHERN RAILWAY
RA\'lfRT T PT a A T f i^o. 6 Leaves Athens 8:00 a. m.,
D.tiM.ui I ! SALiIi arrives Lula 0:40 a. m.
BY VIRTUE OF AN ORDFR of 1 No ' 8 Iol > vcs Athens 4:1£ p. m..
Honorable Howell Cobb, Ke.ferec | arr,vcs f-ula 6:60 p. m.t
ill Bankruptcy, there wilt be sold I No. 7 Leaves Lula 0:55 p. rf,., ar-
in the office of said Referee on ‘ r i vcs Athene 8:50.
November 21'h, ipoo, , lt twelve ! No. G Leaves Lula 10.05 a. m., ar-
o’elock noon, ail o.' the assets of | rivt ' 5 Athens 11:40 a. m.
the J. I>. M. Company, bankrupt, G - B - Miller, C. A., Athens, Ga.,
libling, Atlanta. Ga
For Sale
\I.K- Or.f Jergey cow
n. K. r. Heston. 1729 S.
Phone 710. n-22-p
|VE VOf'K I'l.WO tuned
it n year. Leave orders
H. Durden s store, 459 Clayton
■r.N'i;
Kraphir
pt kno
(wires stono
ral position,
bookkeeping.
M-ences. Ad-
r.43, Athens.
rt-24-p
For Rent.
lit KENT — Six rooom cottage
Jurnished -S»*e Harry Rhodes or
|r* 917. n-22-c
said assets consisting cf: The ga
rage equipment, including gaso-
n-28-p line pumps and tools, merchandise
consisting of batteries, tires, tubes
and accessories, furniture and fix
tures, and four second hand auto
mobiles.
Inventory $32,396.50
Accounts $36,450.37
at N <?tes $ 4,263.21
Terms of sale will bo cash and
all bids subject to confirmation or
n-28-o rejection by the court.
Information can be had and
stocks can be inspected by ceil
ing on the undersigned receivers.
HOWARD JOHNSON,
J. R. JOEL,
Receivers.
GREEN & MICHAEL,
Attorneys for Receivers.
M RENT -'One' 1 HiVniaHUd" doom
kr two gcntlompn. 724 S. Llhnp-
. Phone 12SS-W. n-23-c
RENT -Two nice connectin';
krniihed rooms -'or light house-
ping Call Mrs. H. C. Crow,
L Dulwsr Are. n-23-c
ftatc and County Taxes j
i now due.
w. A. MALLORY, i
Tax Collector. ;
W. L fOXE
Transfer Co.
Long Trip* Our Specialty.
Cheapest Truck in Town.
600 Thomas St
Phone 1351
Telephone 81.
GAINESVILLE-MIDLAND
RAILWAY SCHEDULE
No. 2 dally fof GamesvilL-
'eaves 7:45 a. m.
No. 12 daily except Sunday for
Gainesville leave* 10.45 a. m.
No. 1 leave* from Gaineiville
arrives 5:20 p. m.
No. 11 daily except Sunday from
Gal'.esvllle arrives 10:10 a. m.
GEORGIA RAILROAD *
At. from Union D’p't for Union
Point, Augusta Point, August
and Atlanta and Atlanta
7:20 pm 8:20 am
12:10 pm 2:25 pm
CENTRAL OF~GA. RAILWAY
The .Right of Way
Arrival and departure of trains
at Central of Georgia station.
Depart for Macon 7:30 a. m.,
4:45 p. m.
Arrive -from 'Macon 12.10 p.- m.,
0:30 p. m.
For further information phone J.
Y. Bruce, C. A., 640.
Am. Hide and Lcath- pfd. bid 67 %
Am. International Corp. ■■ - 28%
American Locomotive ..
Am. Smelting and Uef'g ■
American Sugar .. - - ■
Am. Sumatra Tobacco ..
American T. and T
American Tobacco ..
American Woolen
Anaconda Copper
Atchison
At!., Gulf and W. Indies
Baldwin Locomotive
Baltimore and Ohio
Bethlehem Steel “B" .. •
Canadian Pacific
Central Leather
Chandler Motors .. -- .. . ■ 6074
Chesapeake and Ohio 69
Chicago, Mil. and St. I’a.u . 25%
Chicago, R. I. and Cue. . . . 34%
Chino Copper 24%
Colorado Fuel and Iron . ■ .. 26
Corn Products - .129%
Crucible Steel 64%
Erie .. _ _ •• 116k
Famous Playcrs-Lasky .. . 92%
General Asphalt 40%
General Electric* -.. .. -- ..176
General Motors 14%
Goodrich Co • • .. 31
Great Northern pfd 86%
Illinois Central 109%
Inspiration Copper 33%
International Harvester —101%
Int. Mer. Marine pfd. *- ■ .. 49%
International Paper .. . . 50%
Invincible Oil -- •• 14%
Kclly-Springfi<;ld Tire 40%
Kcnnecott Copper .... . . » 41%
Louisville and Nashville .. .131
Mexican Petrc'eum 210
Int. Nickel 14%
Miami Copper • ■ 26%
Middle States Oil U*
Midvale Steel 30%
Missouri Pacific .. — ■ • • • 16%
New York Central .. -- 93%
N. Y., fit. H. and Hartford . 22%
Norfolk a i l Western .. — .115%
Northern Pncifci 79%
CHICAGO GRAIN
j riJKWOO—Wheat showed Weal:
71 j nt*ss Tuesday mornTug. The opeti-
42M: inc which ranged from 3-S to 5-Sc
36 lower wa» followed by a blight fur
"" ther decl n e and then something
After opening a shade
• v corn Continued to
started unchanged to
>nd later underwent a
setback. Provisions
Local cotthn run
lijcc Tuesday with
a»le quoted lit the close
pound against 2!
Slight ad-
middliii?
t 2u 1-4
cent* a
pound at the close Monday.
.180
rally
NEW YORK COTTON
NEW YORK—There were sharp
fluctuations in the cotton market
during Tuesday early trading. The
opening was firm nt an advance ot
23 to 28 points on covering and
fresh buying, which was inspired
by the strength of the Liverpool
cables. There may also have been
some buying on the report of tho
m i •* census bureau showing 8,869,95*/
’iaLl Iah d kr ' ^ l0, ** whitc 3-4 j bales of cotton g’nned to Noveni*
1 ^ a *'ley 64@ her 14, but these figures wer** very
<0. rimothyrced 6.00@675. Clover-j closely in- line w:tn expectations
srvd ln.00@20.00. Fork nominal, i and after the in'tfal buying orders
Lard 11.35; Ribs 10.75(5) 12.00. ;had been supplied the market easel
j put December down to 24.37 with ]
the list at net losses of 7 to 9 j
points. For awhile the market!
was soft but it gained new
strength on reports of a better ]
l pot demand in the local market, j
Soon after the noon hour Decern- j
her was back up at 24.80. " v
• Fuither small recessions occured
but they were not maintained as; Sli\\ YORK DAIRY
, points in the interior commenced i NEW Y O II K.—Butter firm;
jto wire in that the spat inquirywas ‘creamery' higher than extras;
j improving apnin. At 1:30 o’clock creamery extras 51. Eggs steady;
j December stood at 24.84 with the Cheese firm.
| list 35 to 46 points up net. j
SUGAR MARKET
N E\V ORLEANS—i-,pit cotton K p, W Y O R K.—Raw sugar
tcady and unchanged. Sales on steady and unchanged at 3.78 for
none. Low Cubas, cost and freight equal to
— 25.00; 5 or, far— centrifugal. No *ale»
53% j ino
70% | were easy.
28% CHICAGO—Cash Wheat No. 2
122% | red 127@127 5-8. No. 2 hard 120.
150% Corn No. 2 mixed 72 l-4@3-4 No.
94% [2 yellow 72 3-4(5)73 3-4. Oats No.
the spot 19.80 to arri 1
middling 24.13; Middling
Good- middling 25.63. Receipts
6,816; Stcok 301.447.
Open High Low Close close
. 24.85 24.96- 24.37 24.82 *4.45
. 24.90 24.98 24.45 24.88 24.51
. 24.85 24.95 24.04 24.88 24.53
. 24.72 24.83 24.30 24.74 24.39
Dec.
.Mar.
Jan.
May
July
were reported. Refined unchanged,,
granulated 6.90. i
POTATO MARKET
CHICAGO—Potatoes Arm; Wis
consin sacked and bulk round
whites :hi©i.cio; Minnesota sacked
■jt ;
21.50 24.58 24.06 24.44 24.13; red river Oh o* #0©1.00.
LIVERPOOL COTTON , CHICAGO DAIRY i. ...
IHVEnPOOL.—Cotton snot-limlt-i CHICAGO — Butter higher;
ed demand; easier prices. Good | creamery extras 60 1-2;, firsts 36
middling 14.95; fully middling 11--’<§>« 1-2: extra firsts 17@49 1-2
14.90; middling 14.80; low middling! seconds 37@38; standards 47 1-*.
14.50; goo dordinary 13.90; onll-1 E **» unchanged; receipts *.1M
an OA » AAA . . .. I Pfllial Poilltrv illrhAP) fAWlt
( n closed firm. 3-4@7-8 to j off under realising. December con j nary’13.60. Sale'sS.OOObHl’es.'in-1 cases. Poultry alive higher; fowls
3-8 net higher. Wheat closed i trncts which sold nt 25.B0 on the j eluding 4,400 American. Receipts J Springs 18; roosters IS
'cal! brok^ to 25.15 and January .tdOQ Ointiuding 26,300 American. 1 ~2: Turkeys 35; t.oese 21.
from 25.15 ,*o 26.11. Prlvajp cables Futures closed November 14.36: D— — u .
said the sharp advance from .the comber 14.17; January 14.05; March I v,
opening decline *n L'verpool'was < ^3. 13 gg. j u k. 1345- sen- 1 NEW YORK—Call money lirm-
tember 12.92, t High 5 1^; low 4 1-2; ruling
c-O^/V'Ls
Florence Coal Co.
State and County Taxes
arc now due.
W. A. MALLORY,
Tax Collector.
WYNBURN ST.
PHONE-1341
66
66
Taxi Service All Night Long
GEORGIAN BAGGAGE
Phone TRANSFER CO.
ASn STOVE WOOD
BLOCKS USEFUL
l’HONE 147
HANNA MFG. CO.
ATHENS. GEORGIA
Oklahoma Prod, ami Ref.
Pacific Oil
Pan American Petroleum
Pennsylvania —
People’s Gas .. -- .. --
Pure Oil
Rny Consolidated Copper
Reading
Rep. Iron and Steel ....
Royal Dutch, N. Y
Sears Roebuck .. ..
Sinclair Con. Oil
Southern Pacific .. ..
Southern Railway .. .
Studebaker Corporations
Tennessee Copper
Texas Co.
Texas and Pacific
2
.. 45%
.. 85
.. 4674
.. 92%
, . 28%
..13
. 77%
.. 48
.. 5374
.. 82%
. 32
. . 90%
. 22%
.124
. 8%
„ 47%
21%
3-4 to 1-5 net higher.
Open High Low ('lose
WHEAT—
Dec. . . 1.18% 1.20% 1.17% 1.20%
Mey . . 1.16% 1.18% 1.15% 1.18%
July . . 1.08% 1.09% 1.07% 1.09%
CORN—
Oec. . . .70% .71% .70 .71%
May • • -70 .71% .69% .71%
.69% .70% .69 .70%
Inly . .
OATS—
Hec. . .
.431
May . .
fulv . .
LARD—
fan. . .
May . .
•”BS—
'lay ...
.39%
. 9.92
10.22
.43%
•43%
.40
9.95
10.22
•42%
•42%
.39%
9.92
10.
-43%
due to covering in anticipation of
bullish ginntg figures, but com.
Dialed of a continued poor trade
demand.
There waa a sharp reaction in
CITIES SERVICE QUOTATIONS
Liverpool after the opening here; Quotations furnished by Atlanta
which held some selling around Office Henry L- Doherty &
the local ring and prices weakened | Co. .
... . with December selling off to 24.88,Cities Service preference B—6 1-2
.3974 and January to 24.80 or about 6 or 7
I 7 points net' lower on tho active. Cities Service debenture D^-92
9.95! months and Into now low ground 95
17 10.22 f° r January. A few stop orders were Empire Gas and Fuel; 8 per cent
uncovered on the decline and after! prefered T9 92 1-2
Tobacco Products 79%
Transcontinental Oil 11%
Union Pacific 1.41 %
United Retail Stores 71
U. S. Ind. Alcohol .. .. .. 62%
.. 48%
. .104%
--61%
. / 68%
. 574
..11374
.. 7574
. 40
, E KAY/
•THE SMILING PAINTER”
Fine Painting and Interior
Decorating
Phone 280, Athens, (ia.
Hauling
ALL ABOARD
Winter Excursion Fares and All
Year Tourist Fares
•Mibama
•Arizona
Arkansas
5 r j!| sl ' Columbia
'-alifornia
Florida
Washington
TO
Georgia
Havana
Kentucky
Louisiana
Mississippi
New Mexico
VIA
Nortli Carolina
Oregon
South Carolina
Tennessee
Texas
Virginia
West Virginia
Georgia Railroad
Atlanta & West Point R. R.
Western Railway of Alabama
Libera! time limit and stop-over privileges.
For further information apply to
J. P. BILLUPS, G. P. A-,-
714 Healey Building, Atlanta, Ga.
I’artH and Service of all
make* »f cars.
CONNOLLY MOTOR CO.
CATTLE MARKET
CHICAGO- Hogs- receipts 4».uuu
steady. Bulk 175 to 220 pounds
7.754*7.85; few 1 10 to 160 pound
7. , .io@>S.50; choice 225 pounds tn
275 pound butchers 7.90@7.95. Top
8.00 on choice hiavy; packing
sows 7.nn(S:7Jir,: desirable p!«'-
8.25; heavy hi'iis v.75®8.00; Med -
um 7.75417.95; l..«ht 7.70@i7.s5; 1 - • --y-
“ o 1 ;" consolidated Gas. People's (ms. Co-
7.00@7.40; killing'"pigs S.15@8.30. Dola Austin Nichols, American
Cattle receipts 15.000 berf Steers
very slow; quality plain! strictly
United States Rubber ..
United States Steel .. __
Utah Copper
Wcetinghousc Electric ..
] Willys.Overland
Atlantic Coast Line ..
! Coca Cola ..
Seaboard Air Line .. ..
Sloss-Shef, Steil and Iron,
bid
United Fruit, 151%
Virginia Caro. Chcnt. .. . 2574
American zinc, bid ...... 16
I ’ vnolds Tobacco 6274
Chicago and N. W 85%
WALL STREET
NEW YORK.—Declaring •>! foie
more stock of extra dividends by
large 1 rporations Monday fur
nished I he' impetus for - inoderale
rally at the opening of Tuesday's
stock market Kepi (itlott ; -sfi. r
day's strength was noted In the In
dependent steels. Pillar: 0, . public
utilities, metal:: motors and cecea-
so'-lis t nd chemicals, lie- i.e!,: ■ I'o-
hacco which declared 33 I ! pel
null stock diviili ud oil the A 0: d
II stocks was pushed up four points
to a flew high record, the first sale
comprising 5.500 shares at 63 1-8
Having of Midvale, v-hich advnnc
1 point uas accompanied by a re
newal if reports of its metier with
Bethlehem. Crucible und Gulf
States also advanced a 1 olnt each
rnlnn Pacific, Lackawanna and
Chesapeake and Ohio were most In
demand in the railroad group, nth
r strong spots were Kre.isge, Van
Silk. LorlL'-.rd Tobacco
WASHINGTON.—The president
’allowed his custom of reading
>0111 manuscript, the message
'aving been typed on small sheets.
\t times he put great emphasis
n some of the statements in his
pcech. He was applauded when
ie said he canto to reassert an
Vroerican “We Will,” but for the
uost part the senators and repre^
•optative* heard him in silence.
For the first time since the pres
ident has visited the capitol to ad
dress congress, Mrs. Harding was
ibscnt. Ambassador Jusscrnnd
-f Frftncc, was with a party in the
-diplomatic gallery. A dclcgaiton
■>f shipping board officers headed
bv Chairhtan Lasker, had seats on
'he floor directly behind the re.
■tuhlican group.
The "English Expositor.” by John
Bulloknr. 1616, was the first Eng-
Ish dictionary In the strict sense
of the term, giving both words and
definitions.
Queen Elizabeth was the first
sovereign to use a fork and a cler
gyman of her time preached a ser
mon against It, aaying providence
gave us our fingers to eat with
9.80 * their execution prices rallied a few
9.70-, Points from the lowest or covering
with the market fairly steady
around midday.
Trading was quiet during the
early afternoon but prices held
qsaaj 9(1111 0 J0 SujJiAoa uo Xpnajs
‘commission house buying promot
ed by more bullish spot advances
from the south. Jany was selling
around 25.21 shortly after 3
o'clock with the general list show
ing net advances of about 25 to
30 points.
Prev.
Prev.
Open High Low Close Close
Dec.. 25.50 25.30 24.88 25.22 24.95
Jan. 25.25 25 34 24.80 25.30 24.89
Mar. 25.12 25.38 24.84 25.31 24.90
May 24.97 25.35 24.70 25.20 24.71
July 24.74 24 92 24.46 24.82 24.45
Cities Service 6 per cant prefer
red 69 3-8 C9 7-8
Cities Service, common 190 193
Cities Service, bankers 19 1-2 20
Common stock, scrip... 140 ....
Comomn cash, scrip ... 68 ....
Chess has been played for at
least 4.000 years.
late 4 1-2; closing bid $ 1-2; of
fered at six; last loan 6 1-2; call
loans against acceptances 4. Timo
loans firm; 60-90 days JS; 4-6
Months 5; prime commercial paper
1 3-4.
LIBERTY BONDS
NEW YORK—Liberty bonds
Closed. 3 1-2* 100.24; Liberty first
4s 98.26 bid; second 4s 98.80; first
4 1-49 98.56; 2 nd 4 l-4s 97.96;
3rd 4 l-4s 98.50; 4th 4 1-4; un
called victory 100.30; — Victory,
called 100.06.
* COTTON OIL
NEW YORK—The cottonseed
oil market dosed steady. Prime
summer yellow 950@976; Prime
crude 825. November 950; Decem
ber 943; Jan. 967; February 968;
March 980; April 980; May 995;
June 996. Total sales 10,900.
NEW YORK SPOTS
NEW YORK—Spot cotton quiet;
d*
Midifling 25.40.
NEW ORLEAN8 COTTON
SEW ORLEANS—A much high
er Liverpool market than ‘due and
cenBUH bureau figures of 8.869,857
halea ah the total quantity of cot
ton ginned this sehson to the four I
teentli of Novmber, caused general 1
buying of cotton loony 0 n the oiien :
lug, and for a short period there-'
after, forcing prices’ 37 to 5u'
points over tho close of yesterday
to 21.95 for Decembor. Heavy
realizing sales met \ho advance <
and at the end oV the first half j
hour of trading, December was off !
to 21.56 with tho list 20 to 30 points
off from the top.
The selling movement gained
considerable headway around The
middle of the morning and finally
THE BEST TOOL FOR
A BIG JOB
An, axe in the hands of a crazy
man is a serious menace, yet we
do not condemn the axe for its
wild or foolish application.
Advertising can be—has been—
sometimes misused. Like all'great
forces, it must be intelligently
planned and directed.
In the big job of reviving Amer-
■ ican business, advertising is the
best tool that money can buy.
Let’s use it—boldly and well!, 1
The Banner-Herald
ATHENS, GA.
good and choice steers steady; oth
era weak; few ligut native steers
and yearlings held above 13.00;
Hulk native steers 7.75®10.O0; l)c-
s ruble yearlings scarce; she stock
and bulls steady to strong; veal
calves, Stockers and feeders
steady; bulk canTTCYs and cutters
2.85@3.00 hulk desirable heavy bo
logna bulls 4.35@4.50; bulk veal
calves to packers 5.00.
8heep receipts 17.000; fat lambs
strong to ten cents Higher: early-
top 14.90 to elty butchers, 13.75 to
packers; fed Clipped lambs 13.00(g)
13.40; fedefs steady; desirable 55
ponnd montanu feeding lambs 14.-
“0"; sheep stesfly: cnolce 101 pound
ewes 8.00.
FOREIGN EXCHANGE
NEW YORK—Foreign exchange
easy. Great Britain demand 448 3-8
60 day bills on banks 446 3-16;
France demand 710; cablea 711;
tlaly 464 and 464 1-2; Belgium
664 and 666 1-2. Germany .01 6-16
and 01 5-8; Holland 39.26 and
<9.30; Norway*18.20; Sweden 26.70;
enniark 20.18; Switzerland .18.70;
Spain 15.30; Greece 166; Poland
.00 3-4; Czccho-Slovakia 316; Ar
gentina 36.62; Brazil 12.62; Mon-)mon>
trial 100 13-32.' [cent.
—
I Lead. Standard Oil of New Jer
sty ami Utah. Acute weakness ir
General Asphalt common and ptd
anil U. S. Rubber each at new low
records for the year, turned the
whole list heavy at the end of the
first hour. Among the first to yield
were Baldwin. Bethlehem Steel B
General Electric, rlsher Body an9
Kressge. Foreign exchanges opened
firm and the neaaeil off.
Contrasting movements featur
ed the early afternoon dealings.
Shipping stocks had a temporary
sinking spell despite the favorable
committee reports on the ship
subsidy bill. Woolworth broke 4
3-4 and Mexican Petroleum, Re
public Steel, American Sumatra
Tobacco, Pullman, National Enam
eling, Worthington Pump B, Gen
eral American Tank, Delaware *
Hudson, Norfolk and Western and
Wheeling and Lake Eric preferred
also lost one to two points. The
subsequent buying of a large
number of the motor and acces
sory issues, also the various food
stocks and continental and Ameri
can Can shares and a rally of
three points in Piggly Wiggly
stores caused the general market
stiffen again although call
money was marked-up to five per
Desire Upholds Business
The basic changes that have taken place
in business during the past year or more
—specifically the change in price levels
ana price tendencies—have caused
business men everywhere to think less
superficially and more furidamentally
about business.
Great basic facts which were but lit
tle realized, except by thinkers along
economic lines, have now become clear
er to the public at large, and to business
leaders in particular.
One such fact is that Desire is the
foundation of business. It is the desire
of the people for any article of com
merce that makes it profitable to pro
duce it. When that desire fails all the
agencies of its production must cease to
operate. * 1
This fact was considered academic
until the nation-wide cessation of liber
al buying made it a matter of cardinal
importance, and the question of the
hour became the meanqpif any, of re %
storing the popular desire to do busi
ness—the desire to buy.
It came to be seen that the public de
sire for products of a business or an in
dustry was the only real and permanent
asset. Every other assumed asset be-
. came a liability when that desire sub
sided.
It is upon this basic fact that Adver
tising rests. ,
It is the function of Advertising to
create desire.
,The desire that is created by Adver->
tising is always some specialized fopn
of an elemental need. Elemental needs,
in their simple form, are the raw mate
rial out of which must be created the
Demand for the products of industry.
This Demand, in its turn, upholds civil
ization itself. It is the one necessaiy
thing that inspires all human activity.
It is the function of Art and Industry
to take the raw materials of nature and
refine them into products that constitute
Supply. It is the function of Advertising
to take the raw materials of elemental
need for food, shelter, and clothing,
and refine them into the desires for the
finest products of Art and Industry, and
these desires constitute Demand. Each
function is as important as the other.
And now’ the time has come when this
fact is realized as nev4>r before.
/
THE BANNER-HERALD
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