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IIF.ARST'S SUNDAY AMERICAN. ATLANTA. HA., SUNDAY, MAY 25, 1013. 17 I) News and Views by Experts of Finance, Industry, Crops and Commerce IS CALLED 11 BY THE SOUTHEAST Drouth Is Broken, but Conditions Are Not All That Are Desired by the Farmers. OATS YIELD IN HEAD SHORT Bankers Look for Share of Gov ernment’s $10,000,000 New Deposits. By M. A. ROSE. Rain, and more of it, still is the prayer of the Southeastern States. The drouth which threatened .se rious menace to the crops has been broken. It seems agreed, however, that the showers which struck the dry fields with a welcome hiss were not adequate. There Is little danger of too much rain just at present, and fear still is expressed that there will not be enough. There 1s, or was. no lack of opti mism. but the need of moisture and the scarcity of seed put a front bn the situation which the most cartless merchant or banker can not ignore, and something of a halt has been called, awaiting the pleasure of J. Pluvius. Oats, planted more extensively in Georgia this season than ever before, Bnd which promised a bumpet yield, have been hurt. It is too late for tains now to help much. Every indi cation is that the yield, in gross bush els, will break all records. Blit the yield in the head has been cut per haps 25 per cent. Resides, the plant has been stunted. The yield of straw vi 11 be much less than expected. How much the oats crop this, year means to Georgia can be seen from the report of a leading implement hum which says that its sales of binders, intended for the harvest of >ats, doubled over last year’s figures. Repair Business Is Big. In the same conversation this well- informed manager stated that the re pair business of his concern this year has exceeded in volume any year’s record for the past decade. Economy, of course, is the expla nation. The farmer is making the old * machine serve, wherever possible. * while after the great crop of 1911 the . farmer would buy anything at all in " the line of improved machinery and his old equipment was discarded. “In 1911 they discarded farm wag ons if they didn't like the paint. This sear they will buy four new wheels and a tongue to make the old one an swer," is the way this student of con ditions .expresses it. Meanwhile, the peach crop, one of Georgia's great standbys, is beginning to move. The first car went out dur ing the week from the Fort Valley- Marshallville region. The Gorwers’ Exchange has increased its estimate from 1.500 cars to 1.950, and Jocks for excellent prices. The orchard owner who did not lose all his peaches prob ably will profit as much from the fruit he saved as he did last year from his huge yield. The New Federal Deposits. Southern banks are finding encour agement in the announcement by the Secretary of the Treasury that he will give preference, in distributing the $10,000,000 additional Government de posits. to the institutions whose cir culation is 4D per cent or more of capital, and that he will take due no tice of the needs of the various sec tions of the country. Circulation amounts more nearly to 60 than to 40 per cent in the larger Atlanta national banks, and when it comes to needs of the section, it in believed the* South has sufficiently strong claims to merit attention. It has been argued that these addi tional Government deposits will serve to cheapen credit at a time when such a course is not desirable. Atlanta financiers do not agree with this They point out that they must cover the deposits, dollar for dollar. Nvith hign-grade bonds. They will have no more funds to lend, and their only profit will be the small difference be tween the 2 per cent demanded on Government deposits and the inter est the bonds yield. Sorr.e Prestige Gained. The principal advantage is the pres tige the bank gains in the eyes of many depositors when it can an nounce that it has so many hundreds of thousands of Government funds on deposit. Some improvement in the Invest ment market is noted. New York City was able to sell $45,000,000 of bonds bearing 4 1-2 per cent at a price a little above par. when a few weeks ago the St. Paul, with bonds equally attractive, could not get par for $30,000,000. and two-thirds of the I'sue remained on the bankers’ hands. The situation differs, though, from that of a year ago. when a single firm offered to take all of a $65,000,000 New York issue at an attractive price, GROWERS FAVOR U. S. MO NOPOLY. It i? reported that dark tobacco growers from Kentucky. Virginia Missouri and North Carolina, in a convention held in Louisville under the auspices of the Farmers' Educa tional and Co-operative Union, adopt ed a resolution recommending that all growers in the stemming district * consolidate into one organization They recommend also that all loose tobacco possible be 9old at a pri v fiiXeu the organization, and th.it the remainder be put into hogsheads for export purposes At the sane meeting a proposal was alsp indorsed declaring for a Government monopoly of the manufacture and s^ile of to bacco similar to foreign syndicate under Government control. Investors Object To Bankers’ Profit Buyers of Bonds Think ‘Middleman’ Gets Too Much From the Transaction Nowadays. NEW YORK. May 24. Ma >y American hankers believe English papers have hit on the reason for failure of recent security offerings in London when they credit it to “pro test against existence of the middle man." according to The Daily Mall, or willingness of the investor "to share part of the commission the underwriter secures.” as expressed by The Financial Times. It has also been h not uncommon experience in Wall Street for bankers to find, on going to a savings bank with securi ties to sell, that officials knew how much had beep paid the issuing com panies for the seeurities and that they were willing to take a block if the bankers would split their commissi »r* with them. Some such splitting has been done to consummate sales. This situation i» a natural result in the investment market when com petition of new securities is keen. The risk involved in buying securities and resellng them is greater than in times of °r>od investment demand, and therefore it would seem the bank ers’ commission should be greater. But some New York banking haus -«» have adopted a reasoning directly op posite and are finding it successful They are cutting commissions to a small pattern and offering new issu*:** to investors at prices which attract enough buyers to make the bonds gi rapidly This obviates the risk and expense of carrying the securities air length of time, and gives the investor more chance to make a profit bn h'.* purchase. Bankers say securities can he sold when the “right" price is put on them, and that if bankers will do their share in making prices attractive there will be no trouble in carrying through the large financing waiting to be done. Issuing companies have already bee i forced to do their part in selling se curities to bankers at low prices. Some of the difficulties between n- vestorsi and bankers, according to the bankers’ viewpoint, grow out of th* fact that investors have not * et been educated to the value of the service that the banker performs. At present with all the commissions to pass m security issues, and the greater uses of publicity, tl.e amount of commis sion is often made public, and th« bankers’ commission is coming In for closer scrutiny. ON OLD BASIS Some Concerns Able to Increase Payments This Year, but Will Pursue Conservative Course. Think Filibuster Against Money Law Delay.in Tariff Legislation Thought by Many to Mask Movement Against Currency Program. WASHINGTON. May 24.—Some of the Democratic leaders of the Senate told President Wilson that in their •pihion the present filibuster against immediate reference of the tariff bill to the finance committee 1s not eft-' rected primarily against the ‘tariff, but against the Wilson program for currency legislation, the men respon sible for the filibuster desiring to make sure that currency legislation goes over until the regular session, beginning in December. These Democratic Senators predict ed that such postponement would not interfere with the enactment of the kind of a law the administration hay in mind. There is a possibility, how ever, that it may prevent considera tion of a currency bill by the Senate at this time, if the men who are en gineering the filibuster insist on fight ing the tariff bill item by item after it has been reported for debate. Such a contest would carry the present session over until autumn and compel adjournment as soon as the tariff is out of the way. The view of the Democratic Senators was of much interest to the newspaper men to whom it was expressed. The President is understood to have made no important comment on what he was told other than to Indicate that he would not change either his tariff or his currency program mere ly because opposition to them had grown up in Congress. NEW YORK, May 24.—There are a number of companies that are in a po sition to increase their respective div idend rates, but deem it the best pol icy to make no change until they can get a better idea as to the future course of general business. They arj husbanding resources in order to for tify themselves against a possible re action later on in the year. The Steel Corporation is certain to make no change in its rate. While 1 earnings this year will he large, the | course of the steel Industry at the mo ment is rather uncertain. Should then be a falling off in production and prices. United States Steel would ex perience difficulty in showing an in- | come in excess’of present dividend n - ; quirements. Bethlehem Steel recently placed preferred stock on a 5 per cent | basis, but there will be no increase from that level this year. While earn- i 'ngs are large, new financing involv ing at least $7,006,000 if* now being arranged. Competition is Keen. The electrical business is large, hut !'competition is pronounced and for this reason no change in General i Electric’s- dividend is looked for. Tne | same can be said of Westinghouse Electric and Manufacturing. United States Rubber took the Street by surprise recently by raising the dividend to 6 per cent. No change from this level this year is expected. Republic Steel is making sufficient money to pay off the back dividends on the preferred stock and pay some, i thing on the common, but in line with its conservative policy the company i believer it prudent to still further add | to its already large cash resources. No increase in Corn Products Re- j lining’s rate of 5 per cent on the pre- ! ferred is looked for. Earnings are running only slightly fn excess of div idend requirements and besides it is , going through a Federal investigation. Building Falls Off. I. The falling.off in building opera- 1 tionn will prevent ajiy increase in ; United States Realty and improve ment’s disbursements. American’ Uotton Oil-directors will not take up the question of dividends on the common stock until they have , made all provisions for financing new ! construction work, which Vill add j largely to earning power. Crucible Steel Company of Ar$erU.i i.-j. qnaking sufficient money, to pay. olie back dividends on the preferred* hut tariff uncertainties will prevent any action of this kind this year. Pitts burg Coal is in no position to satisfy dividends in arrears. Secretary's Ruling Creates Surprise New Policy Indicated in Willingness to Take Certificates for Deposit Instead of Actual Bonds. Surprise was created by tin- an nouncement that Secretary of tire Treasury 'McAdoo would accept tem porary certificates of t lie New York city bonds, just issued, as security for note issues. Thd Treasury De partment in times past has insisted upon the deposit of the bonds them selves before permitting note issues. Only once was this rule broken, and that was in t.he panic year 1907. when money was 100 per cent and banks were closing their doors on every hand. As no such extremity can be pleaded now, the Street was curious to learn the why of the new order. One conclusion was that politics played a part in it. Such a concession in the case of the new issue ought to help the market for it. The last time the city issued a large block of Its securities a dispute arose over the printing of the bonds, with the result that the bonds were never listed on the New York Stock Exchange. The dispute caused quite a little de. lay In the issue of the bonds them selves. Under the customary pro cedure of the treasury should a sim ilar delay occur this year the bonds would not be available for deposit for some time, and banks would not be able to use them as security fmyiotes. By taking the action he did Secretary McAdoo has cleared the way for speedy application of them for cir culation purposes. The action is in accord with his policy of increasing government de posits of money and of helping banks to increase the circulation of their notes. Baseball Charity for Boys Covers His Sins Judge Dismisses the Man Who Bought Bats and Balls for Youths to Play With. FALL ORDERS T MUCH ELECTRICITY DRAWN FROM SOUTHERN RIVERS Plants already in operation and In | eourse of construction will develop i more than 1.000.000 electrical hors - power in the Southern States and I other projected developments will ad i | 2.000.000 horsepower to this amount, with an additional 2,000,000 availab'^ from minimum flows of rivers. To this 5.000.000 horsepower another 15,- | (100,000 horsepower could be added 1\ ' comprehensive reservoir and storage systems. The developments now completed i or approaching completion include the Alabama Traction Light and Power on the Uoosa River, the Alumi num Company of America on the Lit- I tie Tennessee River the Southern Aluminum Company on the Yadkin River, the Virginian Power Company on the New River, the West Penn Traction and Water Power Company on the Cheat River, the Georgia Rail way and Power Company at Tallulai Falls, the Ozark Power and Water Company on the White River and th« Tennessee Railway, Light and Power Company on tl.e Oconee River. WHAT THE SHOPS OFFER. A "poke" oo.lar of pique, a piquf tie and shirt bosom, and a pique waistcoat, is the finest combinati*; i show n for evening wear for men. A.; the articles mentioned show the sa i< degree of whiteness and produce an unusually neat effect. The vogue for silks in the Frencn fashion centers is especially shown in the .evening wrans now being worn by the elite. Gorgeous brocades an 1 other silks are used in place of tne satin-finished broadcloths and wool in goods of a few years ago. With the arrival of the vogue f jr strong colorings, laces have been clev erly produced to meet the demand printing and dyeing Mat ramp a in other heavy laces are used principal ly for this purpose. Among the latest men’s wear articles for summer are soft col- j lars cut low in the front and away front so popular at the pres*uc time, and permit easy adjustment of scarfs. Daintiness will be the keynote «>f fall lingerie. Night gowns are strong- lv favored in the Empire style, with the waict portion very ornate. The substance of fashion's dictates in th-s , line is “less bulk.”' L. & N. Bonds Sell Now on 4.40 Basis Unified Mortgage Issue Almost Clos ed Up—N. C. & St. L. 7 To Be Retired Soon. Investment bankers are offering, at a price to yield 4.4o per cent, the un sold balance of $4,000,000 Louisville and Xafhville Railroad Company uni fied mortgage 4 per cent bonds. These bonds are a part of an au thorized issue of $75,000,000. of which i there are outstanding $61,871,000. Of tne remaining $13,129,000, there are ! reserved $10,844,000. for the retire ment of prior liens, making the unified mortgage practically closed, except for refunding purposes. The bonds are secured by a direct lien on 2.000 miles of road, subject to prior liens at the average rate of about $5,500 per mile They are also a direct and collateral lien on mileage, including some of th<i j moft important main lines of the Louisville and Nashville system. For the past seven years the com- j pany has reported a surplus, after the ! payment of fixed charges, averaging over $8,OOft,OO0 a year. For the fiscal J year ended Juno 30, ^the earnings were equivalent to 15.9 per cent on th«- stock. It has paid dividends of not less than 4 per cent .--'ince 1900. and is now paying at the rate of 7 per cent a yea r The bankers also announce that the first mortgage 7 per cent bonds of the Nashville, Chattanooga and St. Louis Railroad, which mature July 1. will be paid at maturity from the* funds raised through the sale of $6,000,000 capital stock. The bonds will not be extended. The hankers offer, how ever. to pay a 3 per cent basis for the bonds in exchange for Louisville and Nashville unified mortgage 4s. SLAYER’S PISTOL FOUND 34 YEARS AFTER HANGING , . WARRENSBURG, MO., May 24.— Thirty-four years ago Frank David son shot and killed Joe Haggerty at a country picnic. After the shooting, Davidson held the crowd at bay with a revolver until he had a chance t> hide the weapon. He was captures, I tried for murder and hanged at War- rensburg. but his pistol was never found. To-day Isom Manis. the farmer wh.) owns the land where the picnic was held, turned up a six-shooter while plowing near where Davidson was captured by hl§ neighbors. The pist >1 held three empty shells, the numb • * fired into Haggertv’s body. Three loaded cartridges were also found in the cylinder. The pistol was cock *d when found. WOMAN FISH WARDEN IN KANSAS MAKES AN ARREST TOPEKA. KAN'S., May 24.—When Mrs. C. A. Fisher. State Deputy Fish Warden, found H. R. Stone fishing with more than one line yesterday, she arrested him on a charge of vio lating the fish and game laws. This was the flrsh arrest ever made by a woman deputy game warden in Kan- .V|rs. Kjsher fo?»k Wtone-TK fdro a jtfcfrv tire. Who fined trie prisoner one cent and costs. Stone appealed the case. CINCINNATI. ().. May 24.—Police Court Judge Fricke, known the coun try over for hie many acts of kindness delivered from the bench, paid a higli tribute to a man who, in buying a supply of baseball bats and balls for a number of small boys, was indi rectly responsible for the breaking of a number of wjndows. John Lucas was the man in question. He trembled ar he faced Judge Fricke on a charge of disorderly conduct. “Heinous!" exclaimed the Judge. “Man. you have committed « most | serious crime. Whatever induced you to do *»uch a thing? * This is one of the .most flagrant cases of disorderly conduct that ever came to my atten tion." Luca? quailed and began to explain. “I want to hear no explanation ; from you," said the Judge. “However. I want to say that you are dis missed" ''Wait a mni&ff ." said the .TU0go* ”1 say to you, Lucas, that you need have no feftr from any such charges as the present as long as I am on the bench. I wish there were more men like you. for what you have done is an argu ment for the need of more play grounds ” Tango Dances Barred By University Heads ■ . • rwT"? T A . Wisconsin Students Stirred Up Over New Ruling—Spooning Also Must be Stopped. MADISON, W1S.. May 24. —Rigid rules issued by the Stale University authorities regarding flip >conduct of men and women students have brought out a violent protest from the State University Independent col lege daily. The Daily News. The new rules are in part: No more hazing. No more picnic lunches for two. No more dual diners. No more tangos, grapevines, tur- ! key trots, bbnny hugs. Boston dips, | no sir. not even a friendly call oil milady fair until after 4 p. m. The,varsity student court "has «if j and sal hard on nil wiggles, terpsieh- j orean contortions, spooning dinner.". ; lovers’ strolls, etc., at the request of the dean of the women’s department. Rules are posted all over the var- j sity building, and he who dares dis- i obey is haled before ..the student body* Twelve students are already on the | dbeket for trial. SICKLE LOST 70 YEARS FOUND IMBEDDED IN TREE INDIANA. PA.. May 24.—An nlil- fashioned metal fickle stuck into a maple sapling 7 0 yea is ago by an irate father. Daniel Nupp, while he chastised his two sons in a harvest field, was found imbedded 1n the heart I of a large tree cut down*recently by Cyrus Nupp, of all persons Just the one to explain the mystery out of a j vivid memory of the aqcient incident. While Daniel Nupp, one of the pio- | neer farmers of this county, was har- ! vesting the props on the old home stead farm, in Green Township, in 1843, he asked his two sons. George. | aged 10. and Cyrus, aged 7. to carry water for the harvest handH. It was a warm day, and the boysw ent into a nearby woods and sat in the shade. The father, who was cutting grain' I with a sickle, became irritated and. ! sticking the point of the sickle into a small sapling, called the boys to him. cut a switch from a nearby bush ami chastised the lads. Nupp returned to the field and. having forgotten what he did with the sickle, hunted for it in | vain. CASE ‘WITH A HOOKWORM’ UP BEFORE JUDGE LANDIS CHICAGO. May 24 —Judge Dandle found a case with "a hook worm in it." The case has been dragging along for 23 years. It came up for argu ment on a technical point. When a continuance for a month was asked, the jurist remarked: "I think a month is a very reason able request alongside of 23 year . Why. I’ve had that case on my docket alone for nine years." The case is that, of suits totaling $80,000 for damage*'against the Unit- ' od Steamboat Company as a result of the explosion of the steamer Tioga on July 11. fxim The iVoat was load'd , with gasoline, and 16 hands lost their Heavy Shoes for Rough Usage and ‘Children’s Models Seem To Be in Greatest Demandd. BOSTON, May 24. Orders for the fall shoe trade showed a marked im provement during the week with spe cial requests for prompt deliveries, and the absence of the usual attempts to break prices gave a better color to the general market than has been discernible for several weeks. The Jobbers have held aloof from trading until the approaching season for deliveries was too near to warrant the hazard of further delays. Values holding strong under this pressure, little of the bearish element is noticed although the volume of business is ; moderate and caution is a ruling trait. As much of the business which has come to manufacturers of men's fine shoes is for future delivery the facto ries have not assumed that activity which they will later, still there is a fair amount of work going through. Makers of men’s medium-priced shoes are running below capacity limits, yet there are a few who are busy and re port plenty of work ahead. Sturdy Styles Active. The heavy shoes'for rough usage, particularly nailed and Goodyear welts, had an excellent demand, and late orders may not he shipped as early as buyers require. Aside from the busy condition at the factories there is some delay in getting stock, such as elk and chrome side leather. The cheaper grades are getting kan garoo, but are delayed in not obtain ing wax splits. Orders for boys’ and youths’ shoes are daily received, but they average in volume below expectations. How ever. the factories are much better employed than they were two months ago. x There lias been a good mall order business for ladies’ and misses' foot wear. the demand including ail grades. Street Patterns Unchanged. There is no conspicuous change in shoes for street wear, tans, patents and gun metal being as popular as at any time in the past. Radical styles always appear in the ultra high- priced grades first and often get no further, therefore the low vamp and moderate high heel is figuring large ly in present orders. Satin slippers. w r ith ornaments in some instances expensive, are selling freely in the cities. The shades of color are unlimited and new' ones are frequently offered for sale; the color called battleship gray is one of the latest. Children's shoes are having a trade which is taxing the capacity of some of the plants. The button boot with two or more colors is in good request in the 2 to 8 run. but in sizes beyond those the uppers are similar to la dies’ shoes. Deliveries are not what the trade asks for and prospects of improving this feature are particular ly bright. The Hides Market. Considering the general dullness hide sales show that the* packers are holding the qjarket w'ell in hand, and were it not that some large transac tions had taken place one might feel that the easy tone would develop into a sharp decline, especially so when April and May hides do not show the strength expected and general buying of these shedders is so moderate. Hemlock! sole leather had better sales than the weeks have averaged of late. Union sole leather is fairly active. There have been some large transac tions which added to a steady though moderate demand made a very good week’s business. There is little ac cumulation. Oak sole leather is moving freely considering the price and the ap proaching close of the season. Prices are strong and the supply small. The condition of the calf skin mar ket is quiet. There was a special sale which figured large, but generally the situation is not encouraging. THREE ME CASH IN Washington, m«v 24. -Th<- quadrennial count of Uncle Sam’s f'ash is on. all because John Burke, the new United States Treasurer, is to take v{large in place of Caruii Thompson. The work of counting be gan on April 7, and by June 7 or .1 little after the new official will be able to give his predecessor a receipt for $200,060,000 or thereabouts. Neither Man Preeent. Neither Burke nor Thompson will be present during the counting of the cash. The actual work Is done under the supervision of a committee of three, two employees of the Treasurer’s office and a third selected by Burke to represent him. Twenty laborers, form ing two "gangs" will take the pack ages of coin and paper to the com mittee, who will personally see to the counting or weighing of the mone>. Practically half the time consumed in the count will be devoted to check ing up the silver, dollars. On March 19 the Treasurer’s statement showed 156.865.000 sliver dollars In the vaults. Working at full speed, the committee could count only 5,000,000 silver dol lars each working day. This moan- that 31 working days will be required to account for this mass of silver. As it lies in the vaults, it is in bags N COUNT TREASURY containing $1,000 each. In the past it has not been customary to count ev ery dollar, but some bags sire opem -i sind the contents verified, while othe •* are put on the department's scales to ascertain if they'come up to the prop, er weight. The same process is gone through with in counting the subsidiary sil ver half dollars, quarter dollars, and dimes. Some bags are opened for verification, while others are weighed. The Treasury statement of March 19 showed the aggregate of subsidiary silver in the vaults was $1,250,039.69. Not Much In Gold. Popular opinion is that the store of gold In the Treasury runs into tens of millions, but such is not »the ca»«-. In fact, the store of gold coin in the Treasury vaults is only a little over two and a half millions. There is more than $55,000,000 in notes and each one will be counted before Burke gives his receipt for them. A corps of women who are ex pert note, counters will examine al! of the notes in his possession. Each of the package* will bo broken op n and the notes counted by hand, as there is no known process of count ing slips of paper mechanicals. Counters will be pressed Into service to verify the Treasurer’s book ac count. Wild Animals Once Roamed in Far West Camel, Elephant and Tiger In habited This Continent, Says Scientist. SAN FRANCISCO, May 24.--Dr. John Campbell Merriam, professor of paleontology in the University of California, has given the public the results of remarkable excavations which the university Is carrying on In the tat pools near Los Angeles. Skeletons of species of animals long exiinet have been brought the light. Remains lit* ye been found which show that America was once iii<’ horn * of the camel: that the lion, elephant and tig r roamed over Cal ifornia 'a ng befote the time of man. Between 40.000 and 50,000 bird re mains have been recovered, and of this va-w number more than seventy- five are species hitherto unknown. Plants, seeds, vegetation and speci mens of beetles, worms and insects also have been found The commonest remains recovered are those of the ancient giant wolf, in one opace of four cubic yards for ty skulls were recovered. Dr Merriam considers as the most remarkable of all the discoveries the recovery of skeletons of camels. Sev eral of these have been found. Numetous skeletons of the masto dons and elephan f s have been found as well as remains of a horse similar 10 the 1 resent animal. Another re markable find was that of a hear which was two and*a half times as large as those of the present da\. FAMOUS TITHE BARN SOLD. Special Cable to The American. LONDON. May 24. The famous tithe barn at Maidstone, which was built 600 years ago. is to be acquired by the Maidstone Town Council. An American offered recently to pur chase the barn. ONEY LOANED TO SALARIED MEN AT LAWFUL RATES ON PROMISSORY NOTES Without Endorsement Without Collateral Security Without Real Estate Security NATIONAL DISCOUNT GO. 1211-12 Fourth National Bank Bide- GENERAL ELECTRIC & DAYTON FANS Are the Best and are tor sale by the Lead ing Electrical Firms. W. E. CARTER ELECTRIC CO. 12 WALTON ST. Ivy 5666 COTTON STATES ELECTRIC CO. 13 S. BROAD ST. Ivy 314 GATE CITY ELEC. CO.. 4 Walton St. Ivy 3360 McGAlGHEY ELEC. CO., 37 N. Forsyth St. Ivy 1956 RUSSELL ELEC. CO.. 15 S. Forsyth St. Main 1328 BAILEY ELEC. CO., 34 N. Pryor St. Main 2643 HUNTER HOGUE ELEC. CO.. Wallon Bldg. Ivy 4071 An Electric Stove Keeps Babe Alive Perrine Infant at Ashland. Oreg.. a 2 1-2 Pounder—Doctors Are Hopeful of Normal Weight. ASHLAND. OREG., May 24.—A tiny bit of humanity, the daughter of Mr and Mrs. C. J. Perrine. is being ker^t alive at the Granite City Hospital in this city through the medium of an electric stove. The child weighed two and a half pounds at birth and is now two weeks old. The little one is thriv ing and the hospital attendants ire hopeful that it will attain normal weight and healthfulness. BAN PUT ON RICE THROWING. JOPLIN. MO.. May 24. Newly- wedded couples of this city need have no fear in the future of being bom barded with showers of rice and' old shoes thrown by enthusiastic friends. John H. Meyers, chief of police, res urrected an old city ordinance which puts a ban on the activities of wed ding ’ cutups." and lie Issued an order that it be enforced Retailers' Profits In Shoes Run High Gross Returns From 20 to 42 P^r Cent of Net Selling Price—Aver age Clerk’s Sales $10,000 Yearly. The bureau of business research, • stablished two years ago at Har vard University to collect and classi fy facts about business, has just is sued its first bulletin, which deals with the differing costs of retailing shoes in various parts of the country. Among other things, the bureau ha.s found that gross profits range from 20 to 42 per cent of the net selling price; also that operating expenses range from 18 to 35 per cent of the net selling price—“which means,’* says it statement accompanying the bulletin, “that some stores are nearly twice as efficient as others.” Men’s shoes, says the report, almost invariably sell faster and more relia bly than those made for women. Stores that turn over their stocks only once a year and others turning their stocks nearly four times wero encountered by the investigators. "Imagine in the roughest kind of way.” suggests the bulletin, “the mil lions that could be realized front in vestment in merchandise should the retailer increase his stock turn hut once. The bearing of this upon the demand for higher profit per pkir may nlso % he seen. More stock turns means an increase in net profit without any raiding of pHoe. Variations in bookkeeping were encountered everywhere among shoe dealers. The bureau designated uniform set of accounts, given to th« dealers In exchange for figures from their own business. The figures returned by mail and obtained by field' agents are the basis of the bulletin. They come from more than 130 shoe stores, representing every part of the country. The bureau i<* inclined to think that the typical gross profit on shoes that retail at $3.50 or less is from 23 to 25 per cent, and on shoes retailing at more than $3.50 is from 3ft to 33 per cent Buying expense seems to cen ter about 1.1 per cent. As ot what constitutes selling ex pense so many opinions prevail, says the bulletin, that the very mention of this item is lamost a sufficient argu ment for the necessity *>f a uniform accounting system. The percentage of salaries and wages of the sales force range from 5 to 10.3. the standard being about 7 per cent In cities of more than 100,000 population. Advertising centers about 2 per cent; delivery expense around 0.6 per cent; rent varies from 1.8 to 14.6 per cent on the net sales. The average sales per sales person range from $5,000 to $10,000 a year, centering about $10,000, according to this uncompleted Harvard inquiry. JUNE WEDDINGS Do not ili-lay longer in placing orders for engraved invitations. Our samples represent the very latest shapes and forms that have been accepted by refined and fashionable society. We do not follow—we LEAD in originating artistic effects with fine ma terial. Our prices are the lowest. Send for sam ples, which will be supplied free of charge. J. P. STEVENS ENGRAVING CO., Wedding Stationery Engravers, 47 Whitehall St., Atlanta, Ga. Best Gasoline - 19c per gal. Oil 35c per gal. .. ----— — Op en a t Night — —-- Day & Night Service Co. 12 Houston Street lust off Peachtree St. Said: “If a man does not provide for all who are dependent upon him and if he has not that vision of conditions to come and that care for the days that have not yet dawned, which we sum up in the whole, idea of Thrift and Saving—then he has not opened his eyes to any adequate conception of human life. This Bank adds emphasis to these words and invites your account. 4" ; » Interest 100% Safety Central 56anlr & (Trust (fovjjoration Capital $1,000,000 Resources Over $5,000,000 CANDLER BUILDING Branch: Corner Mitchell and Forsyth Streets —-