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DEVOTED TO THE INTERESTS OF THE MEN == 2 O I RUTRrS —_————WHO MAKE AND SELL ATLANTA PRODUCTS :
BY 0. M. SMUCKER.
CHICAGO, March 16.--In announcing
the sghth lumie of loan certificates the
Treasury Department practically made 1t
oartain that the first payment on the Vie
tory loan imsue will fail on May 20. If
Previously ennounced plans of starting the
seliing campaign April 21 are adnered to
this would allow three weeks for the bond
-m’ organization to place the issue, and
would in addition give the banks ample
time to get their subacriptions straighten
o 4 out before the imitial payment falls
due.
First Yswae Unnvailable. |
The elghth emisison of treasury certifi
antes In anticipation of the Victory Loan
oalle for & minimur. subscription of $600,-
000.000. The lawsance s dated March 13
&nad matures August 12 Hubscription
w close March 20. Certificates of the
issue of this series, dated December
§ and maturing May 6, will be accepted
&t par with adjustment of accrued inter
et In payment for not excesding 60 per |
osnt of subscriptions to the eighth issie.
This m.nrment makes the first lssue
mmavailable for the initial loan payioent, |
a 8 there will not be encugh outstanding to |
come anywhere near meeling requirements (
w then naturally falls on the
issua, which matures May 20,
Greatest Banking Pewer.
I connection with the amendment to
the Federal ressrve act empowering the
banks to accumulate a surplus equal to
thelr mubscribed capital, it is Interesting
% note that when such a surplus has bhesn
socumulated the Federal reserve banking
will be stronger than the Bank
England, the Bank of France and the
of Germany ocombined.
o
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LIS goooß
; MER 18 LABEY,
ARE SELLERS, NOT STICRERS,
P Spring G
retty Spring Goods
Now in profuston throughout our stocks,
Especially seasonable are:
Figured Muslins, plain white Organdies, Voiles, Silk
Ginghams, Bilk Popling, black and fancy Taffetas, black
and fancy Messalines. Also a full line of staple Dry
Goods.
Our Notions and Gents’ Furnishing departments are complete.
Call to see us, or ask for salesman,
Little-Redwi
Dougherty-Little-Redwine Co.
92-94 South Pryor St. Atlanta, Ga.
proving most popular. It will save you money.
Pay us a visit or inquire of our salesmen.
e:e A e
| P eattndente y,'?'..‘:’;';"! J “.’A‘""‘%&
K| 2
¥l JOHN SILVEY & CO.
B BY THE FEDERAL RESERVE BANK. 4
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;:’ 1852 114 Marietta St. Atlanta, Ga. 1919 3
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== fLe .’::.J.o!i.
' :{ Conseientions, eonserva- (P-r‘; :
\ci tive buying is always in or- ;f
| H der. Rock bottom revisions o
:1 have been reached, and re- :v!
it actipn upward is looked for 44
i early. Predictions for a :g!
. :§ splendid spring and summer gg’
:: busineks favorable., :;
) o%‘
B (e Hov eSSt nd Compee | |
!,} We Have the Stock—Stylish and Complete ,;i
B
: :
£ Bs
1 3
“ See our traveling men or :g
K come to Atlanta. 4
1§ § . !;
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| §
i JOHN SILVEY & CO.
-
: 114 MARIETTA ST. |
- BY THE FEDERAL RESERVE BANK. :f
A Sl R T
B e ot -: D -y I >
Y - f;g ‘; : ' . “fs& 3 .
! xd< /) P\
The United Btates ls far shead of other
countriss in the manufacture eof rubber
goods, even as 1 is in the making es steel,
Hvery year sees o further streyngthening
of its position, and preparation by the
:grrm manufacturers to lmprove still fur
ther
‘ The motor manufacturing Adustry of
the country is reckoned to be one of the
lnrgest, It could never have reached such
{ emiinenoce without rubber, amd the grest
Land incronsing supplies of that commodity
’}.;.vn been forthroming at low price only
beosuse of the venturing of eastern cap
tal,
The interest in rubber is glmutflruroly
for Industrisl reasons, and ilt is a wign of
the times that one of the hmmn’ Now
York banks--the Nationsal Bank of Com
meree ~should consider it worth while to
compile for the benefit of its elients In
typewritten form a most exhaustive re
view, not only of the manufarturing sids
of the rubber industry, but of the history
of rubber and its cultivation in the Mid
dle Kast
The section dealing with the sonsump
tion and manufacture of rubber in Amer
ies includes much that s instructive
The quantities of rubber imported into the
United States from various countries and
the amounts retained in the five fiseal
yoars last have shown great inorease.
P, LORNLLARD SURPLUS SMALLER.
The report of Treasurer Willlam B
Rhett, of the . !mrmard‘n‘rob‘cro Com -
pany, submitted at the nual meeting
of stoekholders showed a surplus on De
cember 31, 1918, of §7,164,877, s compar
od with a surplus en December 31, 1917,
of $5,060,942. Thae old board of diree
tors were re-elected at the mesting.
MNAKDLED BUNDAY AMEKICAN — A Newsp&per for Peoplc Who T'hink — SUNDAY, MARCH M
Rubber’s ‘Big Three’ Sales in
1918 Totaled $475,000,000
States Rubber Company, B. F. Good
rich Company and Goodyear Tire
Rubber Company, divided $475,000,-
000 of business in 1918, Of this
$220.000,000, or 46 per cent, was done,
by United States Rubber Company.
Goodyear sales amounted to $131,000,-
000 and Goodrich $124,000,000,
These three concerns increased
their business about $100,000,000 over
1917, in which the total was $377,-
000.000. This is a gain of nearly 30
per cent. Of the three Goodrich
showed the greatest percentage gain,
41 per cent.
There are of course many other
concerns engaged in like business
whase sales amount to many millions
annually, There are at least ten such
companies whose activities are an
important factor in the trade. It
their business were added to that of
the “Big Three” the total would run
up to about $700,000,000 for 1918,
Recent activity in the rubber and
tire stocks marketwise at advaucing
prices has been a direct result of tite
highly faverable earnings statements
in the year just closed coupled with
the almost universal conservatism in
the matter of dishursements to share
holders. This very conservatlsm au
gurs well for the dividend outlook
for this class of companies over the
next few years. |
The Goodyear Company has boqni
paying 12 per cent on its common
stock for several years, Goodrich
has been paying 4 per cent for about
the same length of time. United
States Rubber is paying nothing to
common stockholders, the dividend
having been passed in 1915,
Despite the fact that it pays no
dividend United States Rubber con
tinues to maintain a position in the
market considerably above Goodrich,
Its market position at the moment is
based entirely on earnings. As an
nounced by Dow, Jones & Co. Thurs-
l! War Debts and lndemnitie;ww
The financial review of the Alexander
Hamilton Institute contains the following
with regard to the debt of the leading
powers
In the money centers of the allied
ecountries the guestion of pecuring & max
imum annual Indemnaity remittanee from
Gort;:‘my to the Allles is of paramount .in
terest.
How much can Germany pay? Pefore
the war her taxes were about one biillon
dollars a year. Beonomists in Allied eoun
trios believe that this ean be increased to
over $3,000,000,00 ?u- yoar. Assuming
that she would still need $1,000,000,000
annunally for her own_ governmental
expenses, she would thus be able to mend
to the Allies something over $2,000,000,000
ror year. If this should consume her max
murmn annual surplus, of course, there
| would bo nothing left to pay the interest
Debt Estimates mnino owitted)
Debt OANK .
after to Allies Annual
Demobili- and Value Net Interest
“s:toiooou of l:unlnl:n ,‘..k:,m m‘mrn
Grent Britatn ... +B4O, i 32,000 1,400
FOAROE .L.vvma we ies s 1000 11000 30,000 1,600
United DIOtIE oo o s =+ == »s 35,000 12,000 11,000 800
| Other AN oo wu oo oo v« 40,000 40,000 2,009
Total se o 4 «.§136,000 $21,000 $115,000 5,500
T e $2.000 $41,000 i
e, VR i EE
s ma Be s s J ; 300
Gross 'r:t'd il e ..s‘n,ooo $23,000 SIBI,OOO SB.BOO |
States Rubber Company will show
between $25 and S3O a share earned
on the common stock for the year
ended December 31, 1018, after lib
eral allowance for war taxes and de
preciation, The Goodrich report
made public last week shows about
$23 before taxes, Assuming that
Goodrich taxes in 1918 were twice
those of 1917 it will leave about sl6
a share for the $60,000,000 of com
mon stock. In other words United
States Rubber earned at least $lO
# share more for the common stock
than did Goodrich,
There has been no officlal discus
slon as yet regarding the early re
sumption of dividends on United
States Rubber common but the opin
fon prevails in banking cireles close
to the company that the start is not
far off. In the three years 1916, 1917
common stock after all taxes and
and 1918, the company earned a total
of 376 a share on the $36,000,000 of
depreciation, Not one cent of this
was paid out in dividends. This fur
nishes a fair line on the present
financial stresfth of United States
Rubber. |
As far “as Goodrich is concerned
no increase in the common dividend
is likely in the near future. It is felt
in official circles that some arrange
ments should be made for the $15,-
000,000 notes outstanding before any
increase in dividends is authorized
Jjunfor shareholders, At the same:
time Goodrich is In excellent posi
tion. The company's profit and loss
surplus at the end of 1918 stood at
$30,619,987 compraed with $3,177,910
at the end of 1914, ‘
~ Goodyear’s rapidly expanding busi
‘ness which has increased from about |
$30,000,000 to $131,000,000 in five
years naturally takes a large amount
of working capital. This fact will
probably preclude any lincrease in
the dividend rate on the common
stock for some time to come, ‘
on her own war debt.
Whether holders of German war bonds
should receive any consideration is a deli
cute {amblem. The destruction of domestic
eredit might resirict her national! earning
power and cripple her abllity to remit to
the Allies. The Allies will doubtiess rec
ognize this fact in fixing the terms of pay
ment, but it peoms quite certain that they
will insist upon such a full measure of
indemnity and reparation as will impair
Germany’'s power of “economic penetra
tion” in foreign lands for years to come.
Perhaps this hopeless prospect for national
achievement anccounts for a large part of
the pelitical demoralization in Germany at
the present time.
The following table ‘f!m an estimate of
the debts of the leading powers, allow
ing for demobilization expenses and sal
vage of war supplies:
.
Dec. Export Declines Were}
Uniform in Most Lines|
Domestic exports in December, 1918, to-“
taled $590,319.910. The chief commodi- |
ties covered aggregated $335,389,134, M!
ugninst $387,600,684 In December, 1917,
and $145,142,693 im December, 1913,
Cotton and wheat were the onlgfl‘u—tm»
In the list showing a gain over December,
1917. The heaviest declines were in iron
and steel products, explosives, copper,
chemicals and leather. Copper exports
were but §51.686,674 over December, 1918
Shipments of horses and mules were larger
in that month than in December, 1918,
Automobile sales abroad make a highly |
favorable comparative showing,
Figures compiled bly Dow, Jones & Co.,
of New York, for December 1918, 19817 |
:.n:) 1913, follow (three last figures omit-
December: 1918, 1917, 1918
Iron and steel. .. $75,120 $119,635 §522616
Cotton products. 119914 04,774 56,636 |
Explosives ...... 1,804 27,844 885
Copper ....,.... 14363 27,756 12,866
Wheat flour ~.. 20,138 25,619 9,940
WHost .....onee 5,434 10,138 5,342
Chemieals ~ ... 9,549 2127 2,405
Rallway cars. .. 12648 16,708 91
lLeather & manu, 7,931 13,145 4,068
Automobiles ... 7,081 11,914 2,162
Auto tires .....e 1,281 1,419 205
BrAE .. covoennn 1,612 4,733 719
OO +ssesnrines 1,330 4,650 bBl
Woal manufae... 1,819 2,002 249
Horeow ....eveee 147 2,063 300
MUS o.onccvone 36 682 73
BANY ..oivnere 855 1,042 037
Alrplanes . ..... 424 388 7
Motoreycles ... 14 203 Lt
Total ........ 8336380 $387.600 $145,142
Wheat to Millers at 14¢
Over U. S. Buying Scale
CHICAGO, Mareh 15.—Hownrd B, Jack
son, xonal agent of the cereal Adivision
of the food administeation, says the basis
on which the grain corporation will sell
wheat to millers will be 14 cents over the
grain corporation's buymg seale in effect
whoere wheat 18 put £, 0. b ™m March, One
cent per hushel is to be ndded for ten dayvs
or part thereof, thereafter until actually
toaded,
No contracts will be constderad that
eomtomplate delivery of wheat Dbeyond
April 30, except at lake goru where con
tracts will be made at 17 cents over for
uean f. 0. b vessel within fiftean days
after the opening of uvi’wuot
Buyers must assume all risk of delay
n putting . o b, and If for any reason
f. 0. b delivertes mre not made within a
onn time the higher scale for later de
ivery will be appiled according to date
of actual loading.
At eertain points because of s-mthr
loual conditions buyers muy take delivery
in store clevator, but this will be a mat
ter of spocial stipulation in each "“}
and will be arranged to the discretion o
the viee president (n charge at that point. |
S — T —————. S ‘
Buy Cotton Goods,
Says John Silvey Co. to
“
Southern Merchants
It looked just like before the war
times around John Bilvey & Co's last
week. Not only were the salesmen |
mailing in orders in m wumbers but ||
some of the orders in envelopes |
on which the postoffice had marked
mm» due.” This sudden accelers
wis probably due to the news.
telling of the possible early signing of |
the peace treaty, 1
Contrary to the pessimistic utterances |
of numbers of "u“wm." Mr. R K. |
wm announced that the New York
dent buyers of the John Silvey Come
pany had advised them w&tg ootton
fim and buy heavily ‘otton will
again and the West In hnriuf in
h quantities. Guided by this infor |
the Silvey %‘w has m
hrsc orders
written on ! "
1 m L to
; with the Weas ;
‘m g L
T LR ST e ge, o
One of the very Interesting Items
from a retailer's standpoint in the bl—‘
cycle business is bicycle tires. Like the
automobile, one good bicycle is capable
of outlasting several sets of tires; at
least the manager of Kylea Company’'s
bicycle department stated In a talk
one day last week,
The occasion for his making this
talk was a discussion of the merits of
the different bicyele tires on the mar
ket, and also the near approach of the
spring season when retail bicycle tire
#ales will make a tremendous jump.
The manager of Flyea Company's bi
cycle department says that they have
this year the most attractive offerings
in bicyele tires ever before presented
to SBouthern dealers, In discussing their
lines, he said: ‘
“Our line of Elco tires is composed |
of flve single tube and four clincher
type tires, all of which are guaranteed
to give good service. Our single tube
tires are known as Fleco black premier,
elco tractor tread, Vietor diamond, K
co Harvard and Elco conqueror. The
most worthy and popular being the
tractor tread and Harvard. The former
has three plies of fabric and one extra
ply in the tread. It also has a layer of
rubber known as the inner tube which
is of unusual thickness and quaiicy.
The tread design is especially attr:mt-‘
ive, belng made of pure white rubber, |
while the side walls are of red ruhkwr.‘
making an unusual combination of
strength and beauty. The Eleo II:xr-‘
vard tire, while not guite so good as (he‘
Fleo tractor, fills the demand for a
slightly lower priced tire. It has two
plies of fabric, a heavy inner tube,
studded and gray side walls.”
The clincher type tires consist of the
Elco duro and the Elco black eagle,
double clincher tires, and the Elco par
imount and Elco giant stud, combina
tion clincher. The two first named can
be used only on the double clincher
rims; the latter two may be used either
on a double or single clincher rim.
Our entire line of tires is manufac
tured especially for the Southefn trade
and take into consideration the con
ditions prevailing in our territory. We
know that no bicyecle dealer can buy
| tires which will be more profitable to
| his trade for him to handle, due to their
adaptability, than the Elco line H()\A“‘
ever, in order to give dealers the kind
lr,y' gervice that we feel they have a
right to expect, we handle in addition
| to the Eleo tires a quantity of the most
(p.‘»pnlur brands of the leading tire man
{ ufacturers in the country
o eTe e A S |TN T gt o ee L T
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) A WP : e
fY Now s THE TIME 1 i
oy . 16
il H‘ to commence your Spring “Clean Up and Paint 2@3‘
1 H Up” Campaign. The best contractors and ‘E e
iEg | painters are available | E%fi‘
t | TO DO YOUR PAINTING A
{E{4| and can not only do the work promptly but you |2
is< are assured of greater durability and better re- |l} 15
fL 14| sults generally than can be expected later on in |f* it
g & the hot months. l?f
1 - - R | gif
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EELS 1k fig:'
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215 i IRk
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5 | afford the best possible assurance of all-round 'fip'
48 satisfaction and durability at the lowest consist- i%’
JE4y| ent prices. i
| Adams & Elting Co. _|f |
Y ams ting Co. i+
.’ f ;»‘; Factories: Chicago, Toronto, Brooklyn /[%) Egfih
3B\ HURT o e ATLANTA, ol
SNBSS Bilding e EoRN Georgia *’ S~
g TA S~ WOODWARD *&%«%\%fh i
Uk iwwwwv.v»vw«fimww%{ MGR. )i o bvymgi it |5l
e N e\ ireerr eA T e eU T
With the
Retail Grocers
The monthly meeting of the Retail
Grocers’ Association last Tuesday eve
ning was well attended, the room was
well filled. A number of especially in
teresting matters were brought up.
~ Eleven new flrms, most of them
*“cash stores,” were elected to mem
‘bership, It seems the cash stores are
Just beginning to realize how much or
ganization cen do for them. They have
thought for a long time that only the
credit merchants were benefited, but
‘they are now learning that the associa
‘tion 1s a mighty good thing for retail
merchants whether cash or credit.
Another very gratifying thing in evi
dence now is the *“gpirit of co-opera
tion”"—a desire to do ‘‘team work.”
Some years ago, the city police walked
their *beats” at night alone; several of
our “brave boys” were shot and killed
on their beats; then it was they were
sent out in two's; the murders ended.
If it is hazardous for policemen to go
out alone, is not there a lesson that the
day of the “lone hand” in retail mer
chandising has gone?
~ Is it not better to make your com
petitor your friend, meet him socially
in the meetings and together work out
new things, get new ideas; is not that
the better way? To desire to be alone
is selfish. Life is made sweeter and
better through contact with others.
Man is a social beast by nature. The
man who wants to live to himself is
therefore not a natural man.
Tuesday night’'s meeting brought the
'men close together. They seemed to
‘g,ther inspiration from each other.
ommunity of feeling marked the en
tire proceedings.
By a motion which was unanimously
adopted, President R. 1. Barge and Mr,
F. E. Kamper will represent the asso
ciation at the annual convention of the
National Association of Retail Grocers,
June 23 to 26,
The annual social gathering for the
members and their families will occur
Tuesday, April 15. Mr. Morris Wein
berg, chairman of the entertainment
committee, is working up a fine pro
gram, We will not have speakers this
time, he says. He is going to give the
folks a full evening's real entertainment
of music and fun and a good feed. In
fact, this is going to be *“some enter
tainment.”
The April issue of The Atlanta Retail
Grocer will be a special organization
edition, forty or fifty pages. Several
thousand additional copies will go oul |
to the more prominent grocers and]
butchers in every ecity and town in the
State in the interest of organization.
On March 22 the office of the asso
ciation will move from its present loca
tion, 361, to 401 Chamber of Commerce
Building. Telephones will be cut out
during the day.
2260 ——— e — PHONE MAlN———ereerrnceeeeeee 2260
W. P. NEILL
BUILDER
Repairing and Remodeling a Specialty 24 S. Pryor Street
Estimates Cheerfully Furnished ATLANTA, GA.
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played with a sapphire or a steel needle. :
Live Dealers
Here 1s the proposition you have been waiting for,
but you must act quick.
Write or wire for agency proposition.
For Sale in Atlanta by
J. M. High Co. - Brown-Cochran Furniture
. - Company; ;
Chas, 8. Robison Furniture Ayustin Bros. & Snider Fur-
Company, niture Company,
For Agency Write or Wire I
Scoville M ile C
covilie lViercantiie Co.
Southern Wholesale Distributors.
25 Peters Street. Atlanta, Ga.
USE GEORGIAN WANT ADS FOR RESULTS
OkeH |
RECORDS
The sensation of the
Record Industry — all
OkeH records are 10-
inch, double-faced, and
sell for 85c—Hill and
Dale cut, a,pd can be