Altoona Mirror from Altoona, Pennsylvania on November 9, 1929 · Page 10
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Altoona Mirror from Altoona, Pennsylvania · Page 10

Altoona, Pennsylvania
Issue Date:
Saturday, November 9, 1929
Page 10
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Mi/ 'V' MARKETS FOR TODAY MARKET'S OUTLOOK ICALM RESTORED; STOCK IS MUCH BRIGHTER IDEAL CHRISTMAS GIFT THE ALTOONA' MTRROR-SATORDAY. NOVEMBER 9, 1929 RAIL STOCKS MAY GAIN POPULARITY ".Vorst of Crisis Is Believed Past and Business In Gen- lly II << I''OIIHKS 11. would I,,- a KOOI! thing If the stork I tuiilly showed u proAt of more than 3D P"' <-' e »t wlthin ^'^-='8^ hours. Recent Decline of Prices In Market May Tend to Make Investors Seek Slower Moving Securities. REVIEW OF WEEK IN STOCK MARKET mili-kot look onf more "drop"; a drop eral Throughout Country Is from tho front page. Good, BULLETIN. NEW VOHK, Nov. ».—Tin; bminl :i.' governors ciT the Nc;w Vorli :,;oi'k cxrlniiiKi; voli-il to Hosr tin 1 exchange at I p. "i. «ve.ry tiny nc*t week nnil to suspi-iul trailing on next Naliinlay. Nov. HI. This Is the Kiimo Hcheilnle thill was maintained part of this wi-i-li. By ItlCIIAKD V. (iltll)I.J.V. StnlT Correspondent. NEW YOliK, Nov. '.). -Simultiin- ill 111 session the hurricane has paused. What wonderful Christina.-) gilts ] storks pun:hasi:d at current prices would prove! Unlike other sifts, they ]>robiibly would bo worth far more by 'the following ' Christrniis. Not a lew is.siicH already, re.eovere.ri 50 per cent from their panic-bottom. Home already havo iloubled in market viiluo. Keeoverk-H of 25 per c->nl. aro vrry common. • It IK IL poor slcii-k, in my opinion, ' which will not. nut bargain-buyers at Ii'iist 2, r i per cunt, within n very short .Samuel Ungorloidcr, member of thc|t|ii> recen* decline of prices in the By CHARGES F. SPEABE, Staff Correspondent. (Copyright, 1929, by Altoona Mirror.) NEW YORK, Nov. fl.—Two major consequences of tho protracted liquidation In stocks now appear probable. One Is a loss of conAdence in the market by the general public which will take .some time to reestablish itself. The Railway Ago anticipates thn'. 'The other is a recession In business New York .Stock exchange, senda oul this bulletin: "It. Is the Judgment of out statistical organization that holders of bonds and | Industrial stocks. stock market will tend to make investors look with more favor in future upon railroad stocks, as compared with preferred stocks, which return only :\ limited yield, will do well to sell them 1 securities now, and purchase in their place the common stocks of the United States." . nisly wllh tin- lining of hysterical ' p ,,,.|od. rolling pri'ssure in the si-i:urltl'-s mar- : One group of stocks purchased by tho Lets, a more i-hi.-i.-rful feeling bun de- ] wrHcr^jhirlng '^'-'^.uesda^ pairii^jie- velopcd in the business sltuiition. ".I- | though effects of tin- recent market VTADJ TJ DAQT debacle are beginning to be f-lt In'lwDLlJ ll/01 .cveral basic line" i The past wei-lt lias witnessed a pus- | nlble culmination of the violent .selling j wave which lias swept the securltleH ' markets for the past week with the nation's bunking Interests still on an extremely sound basis. Jn past mar- FOR DEDICATION (Continued from Page, 1.) Himmel, Edward Jones, William .Saris, Roy Hlghani, David J. Dlbert, Ivet panics, down swings In prices were Fl . n(] Cr()K ,, ( , n ,ji,. H( , ph nilny, James Invariably accompanied by wholesale , Vnl , Kmi| (j| mr i PH Barnes, Thomas O. banking/ brokerage and commercial failures. , K. Jorkasky. The fact thill tin; deflation nl the \ stock market was effected with mini W ||| )m . Houseman and John Another who greeted Admiral Coontf. mum Interference to business is polnt- was Dr. 1. I 3 . Patch, Civil war veteran, who saw servlcii ill the navy Hi out as a decidedly reassuring sign) ,j,i r i M( r | M e war and the two gobs told by business leaders, who expect an- ' - — . -. . other forward tradu movement in the early part of next year. Ho far as reminiscences of Fiirragut, Porter, Dnhlgrun, Knol.ij, De.wey, Kva.n.s, Hcbley, Sampson and the other fa- present business IH concerned, there | tmU | H ' , m . n ( ,f t n( . navy whom they ' ' ' ' know during their yeiu-H of active service. After the reception at the hotel Ad- NeverthelcHS, the situation is well ^ miral Coontx was escorted to the new In hand, far more so than It was last . post borne on Seventeenth street and aro a number of Irregular aspc.ets which naturally followed Hie stock market break. week and In Important banking circles It Is maintained that the worst, of the dltuatlon has already passed. At any rate, it IH generally conceded that the stock market has far over-discounted any possible drastic decline in business. As a matter of fact, tho country IIH a whole IH llnluhlng the most prosperous year In Its history. Car loadings will probably set a new record and shown through the building and given the opportunity to meet more of the post veterans. Chiu-les Barnes, who was assigned as personal aide to the admiral, assumed his duties immediately upon the arrival of the train and he: will be by thn admiral's side during his stny in the city. Heady for Dedication. One oil company president sent this telegram to stockholders when thn storm arose; "We hope our stockholders will not unnecessarily liquidate because of panicky condition of stock mtiriiet, ns conditions within the industry and tho company are better than for a, long time. Our slock Is a sound Investment at much higher levels." ]f the writer had had any doubt ns to the wldespreadness of the public's Interest In tho stock market it would havi; been vory effectively removed by tho response, accorded a Fox-Hearst "takle" of his which has been appearing throughout the country, counselling Investment—for cash-in choice stock* now on tho bargain counter. Manv men and women of modest means wh. 1 never before owned a security have been attracted to the market by all the newspaper advertising the panic conditions have been receiving. Whilo many small people who wer» speculators, rather than Investors, have been wiped out, tho great increase in genuine Investment recruits will go far to maintain the total number of security owners In this country. Well-selected stocks acquired during panic have always yielded profits In the past. They cannot full lo do so this time. new high levels" will undoubtedly be All Is in readiness for the parade poifl - " ' n Industries. other basic Excellent retail business is being reported by various leading chain stores and reduced purchasing power on the part of the public will probably he offset 'by development of heavy Christmas business over the next few weckn. Luxury lines, like Jewelry, automobile's, etc., will undoubtedly feel some depression which will probably not be arrested until late in the win'.er. : A bright spot In the situation in tho decidedly sound condition of the nation's banking resources and prospectH of easy credit conditions ovnr tho next i*.-. several months. With brokerage loans ' *••, thoroughly liquidated,, It appears that .from now on business will bo less affected by stock market operations than recently. Kestoration of normal trad- ' ing on tho Stock excbango will probably abolish this drag on general bus- the Major Albert O. King, will marr.h from tbo vicinity of the homo at 2.1)0 o'clock, covering u. route that will include Soventeenlli street to the east side of city, Seventh avenue, innss. I'ltfHllliriCll Mvi'Kt'K'U. PITTHBUFU1H, Nov. 0.—Hog», receipts l.fiOO; market nctlvi', Mo to IBn higher. 160-230 IbH., $B.OII1l $10.00; IMO-.'IOO ItlB., $9.600>$9.8ft; 100-m lb». inoHtly $0.a5(ii' SB.SO; HOWS Btetuly nt $H.OO'n (K.M. Cuttle, ri'CcilptH 1110; innrkct nominal. Calve", receipt* no; mnrkot ntwuly; dfiiir- Hblu velilers. SH.QQ'ilfln.AO. Hhwii. rccolptH MO; market fully utondy; Inilk fat InnihH. $U.O(l'irfl3.r>0; licuvy Inmlin inoHtly J PITTHBUKOH, Nov. (i. — Uvo poultry— Coonlz. Hum,'ZUc; rooslorn, l8i-.ftrl(K-: HIM-HH, Admirnl JScfU/ZQc; tiprliiKurH, liOc'ii 20c; iluckw, 2Uew DreHaed poultry—-Helm, -tOcfd-l.'in. Butter -- Prlntn, riOcWMVii;; tubs, -Uicsc •IBVic; Ohlu, -l-lcii'-ir)!-. KgB"—Fri-Bh. fidu'iMlOe; wiwtiTii Biilect, 4;n: 'i.HUc; currcnl ruci'lpti, 4tr.<uibE. REAL ESTATE TRANSFERS. liurl R. Fruutz, ulnijli', lo M. I., mill I,ucy Wortz, hlH wit", ifevimth HVI-- ime, Junlatn, Altiionn S-IKffl Junioa J. BriiniiKitn ami «'"" lu Jloneniiiry lirimaijan, KlKhtli "Vi- nuo, Junlatn, Altoonu $1 Jlary E. Mntlii'WH, widow, in D. I- and Albelta M. Wilt. his wlfi-, Twelfth iivenui!, Junliitn, Altnunn. .-MM) Axliton Ourdncr, tdnKl", lo Krcil (,'. and Lillian D. Bn-nner, his wlfi'. Boll Htreet, IlollldayahurK 51 John E. Trent) and wife to Kriuili I', and Viim C. Walli, Ill" wife, Eiml Tcnlli Htn-i't, Tyrono $li,li-0 .lumen A. Moylo and wlfi- to rii!tui> J. Wcunu-r, ISIS Twenty-tilth avenue, Boulli Vlnw, Altunmi . William J. LmiKlhofiT ami wlfn In Kannlo P. noljcmin, Hi I KilKiir Htrect, Holllcliiy«tjurg •>' I'unnli! I'. HolM-Hon, hlnish-. to William J. ami Vrrnliu- K. l.niiKlhofi-r, hl« wife, 811 EllKlir lilri-i-l. Ilnlll- . (layahurK " John Kllcoymi and wlfn In 'I'hudi-ii.-i n, Illmelnliniiiih, Twelfth uvrmu-. Junlata, Altmuiii *-1'' Hale II. Hunter and wife to Onc-in- r. and BlUHlii-th J. Hlrii-lili-i-, lil» wife. 115 Baaln slrei-t, llollldiiysliurK *1 Mary J. Co|i|)i-ri4niHh. by iidmlnlMni- tor, c. t. a to llonii A. mid Myrtli: (1. Burkel, his wife. Itoiirlm: anring SI.Mil H. Frank MimiK'um-ry in TlmuiiiH O. Montiioniery and Kriuik J. Stiitu-r, .' Newry *' Ituswell T. Eldnn and wlf" m Mi-.- Klnk-y and Itosuli.- M Unnvit, hlH wife, South Lakeinnnl, I.ogan • township $.',,."111(1 Teresa Luniont, widow. 10 Joheph Ijmont, 711-713 Fourth street. Altoona . .• »' .'llem 1. and Helen A. Cndfrey. his wife, by nherlff, to the i-ailinlu! Knlghta of Kt. TienrKe. hriiukb- town township »'" (1 iniuel N. nnd Edna Wolfnnl. Ills wife, by aheriiV, to Frunklln I., and B. association. 1202 SUlh avenue, Junlatu, Alloonu *u>» Hrew and Mary Ptak. hy ."herlff. to Jacob SluIJa .ino-l Nlntti-i-nih street. Altoona Sl.r.ou wtd E. Fink. l<y aherlfi'. to Mutual H. and I., aasoclatlou I'leimunl Valley Terrai-'-. Altoonu • ••• 4100 i •orge J Nelman and wife to WII- I Mam A. and Ooldte S. Fli^ard. hus- ; !»and and u-ife. Lakeinont J.MIU | .Seventh street, Chestnut avenue, Klevenlh street, Eleventh avenue to Seventeenth street and to tho post home where Ihe dedicatory ceremonies will bi>. held at 3.30 o'clock, wilh Bruco Crumm presiding. The program as previously announced will bn carried out. Rev. M. J. Canole. of St. Leo's church will offer DID invocation, the band will play "America" and words of greeting and welcome, will be spoken by Mayor McMurray and Congressman Kurtz. Past Commander Arthur J Klser will present this home and it will be accepted by Commander Bur- ki.-t. Attorney George M.' Patterson and Admiral Coontz will speak and the benediction will be pronounced by Rev. Dr. Marlon Justus Kline of thn First Lutheran church. , Jn Ihe lineup of Ihe parade there will be the local companies of the national guard, the Noble post veterans, the American Legion drum corps, thfi Johnstown posl of tho V. K. W. and band of forty pieces, llin Spanish war vclerans, War Mothers, V. F. W. auxiliary, Boy Scouts, Cadets, the reception committee headed by the mayor, the par! tlclpsnts in the program and Admiral Well. the "new era" so gleefully discovered and proclaimed by amateui economists of specuUUva proclivities did not last long and came to a vcr> painful end. Tho Uurants and tho CuttenH who talked glibly about prospective brokers' loans of ten billions or twelve Millions or still more billions being nothing to worry about, and the still greater number of blind optimists who cocksurely predicted lhat tho stock market could icver experience an old-fashioned collapse, sadly miHcued. Stocks galore liavo tumbled to half-price or less and brokers' loans, Instead of continuing to mount, havo shriveled up almost two billions since the middle of October. It is to bo hoped that the lesson learned at such cost will prove lasting. The column printed hero the othni day warning against unwise prico- culllng has brought) letters and telegrams urging the need for spreading tho message throughout the entire business world, and asking permission to reprint it. Such permission is hereby granted. "The differences between the changes that have occurred in 'the prices of railroad and industrial stocks during the last eight years, and especially i within recent weeks, have been re- imarkablc,'' says the Railway Age. "The average prices of twenty railroad and twenty industrial slocks which been compiled and published by Dow-Jones & company over n. long period of years, afford the best available bases for comparisons. "In 1921 stocks of all classes declined In Hie lowest prices since the war. The highest level reached subsequently was on Sept. 3. The Dow-Jones average of industrial stocks was then 497 per cent higher than when at its lowest point in 1921, while the average of railroad stocks was 189 per cent liigher than at the lowest point in 1921. In other words, the prices of railroad stocks at the climax of the bull market were about three times as high as when they struck bottom in 3921, while those of industrial stocks were nWout six times as high. "There was a somewhat different story to tell after the big break in the market occurred. Between Sept. 3 and Oct. 29 the Dow-Jones average of railroad stocks declined 22 per cent, while the average of industrial stocks declined 40 per cent. On Oct. 30 and 31 a substantial advance in prices occurred ; but even after this the average of industrial slocks was still 28 per cent below the higii point reached in September, while the average of railroad stocks was only 15 per cent below it. "Investors in industrial stocks who bought them some years ago could congratulale themselves when the market closed last week that the prices of their stocks were still relatively much higher than those of railroad stocks. The highest Dow-Jones average of industrial stocks in 1921 was Si.BO, and when the market closed last Week it was 273,51, or 230 per cent higher than in 1921. The highest average of railroad stocks in 1921 was 77.56, and the Dow-Jones average on the last day the market was open last week was 159.82, or only 106 per cent higher than in 1921. "It will be interesting and Instructive, however, to observe future trends. Tho net earnings of industrial companies unquesttonalbly have increased much more since the depression of 1921 than havo those of railroad companies; but this does not appear to be the only reason 1'or the relatively reater advance in the prices of in- ustrial stocks. There has. been far 'reater speculation in industrial than n railroad stocks, and this unquestion- ibly has been largely responsible for he greater increase In their prices ban in those of railroad stocks, Ap- CoontJ! had a most distinguished wirvlr.H in thn navy, terminating but recently when he reached the age for retirement. He is n. man of most charming personality and he was dellgbled with the rocepllon and greeting accorded him. Ho will remain In tho city until a late hour tonlRhl, participating In the entertainment, and other functions that will mark the evening's activilles at the jiost home. Ralph Kin-kit who has charge of lulling the motion pictures announced today that Ihe pictures will be. taken wheii thn parade reaches Twelfth avenue and Sixteenth street on the return and he i-oi|iiesta lhat all march al attention at thai point. COMMODITIES Maclihiu TouU CLKVELAND, Nov. U.-Hilslness with makers of machine tools is moving along In a highly satisfactory manner. Most manufacturers hero arc heavily booked for this quarter. Turkeys SAN FRANCISCO, Nov. U.—Three weeks before Thanksgiving, turkey prices in northern California are fairly linn. Young turns are bringing 45 cents, old hens -10 and old turns around Illi. Tins new turlu-y cooperative association is expected to benefit producers this season. Lumber MADISON, Wis., Nov. I).—Saw mill operators are qnot ing tlrm prices on bard wood, with demand fairly active for this Hi-uson. Northern mills report n steady demand for birch and there Is no overiiupply of maple at Wi.ti'on.-in and MIchiK'in mills- The president of one large cement company, after mentioning lhat he had senl tho column to "presidents and sales managers of the ninety cement makers in the Uniled Slates," says: "Ordinarily, a heavy volume of business is not accompanied by a reduction in price, but in tho cement industry things aro different. For instance, shipments of cement in the United Stales for August were 23,000,000 barrels, tho greatest month's business ever recorded. Tho liguro was 3,000,000 barrels greater than July of this year and 2,000,000 barrels greater than August last year. In spito of this fact, due to a combination of causes, tho price structure collapsed In August and reductions became effective in praclicall> all territory east of the Rocky mountains, these reductions averaging about 25 cents per barrel, meaning u reduction in tho net price from about ?1.6U to $1.30, tho latter nguro being one which will enable only a few companies to muko fair earnings, most plants earning nothing or less." This la exactly the kind of action industries should resist tho temptation to Indulge in at this time. Prolltlesu business does not create but. kills prosperity. And now ia a time to guurc vigilantly against taking any action calculated to Injure business and employment. Wo can keep prosperity If wo keep our heads. (Copyright, 1B20, by B. C. Forbes.) MOSES TO CONFER WITH PARTY HEADS (Continued from Page 3.) of the. present Hitualion. Of tho flv Insurgents up for reelection, three are believed almost certain lo bo returned Norrls of Nebraska, Borah of Idaho and McMaster of South Dakota. Contents are being arranged by Senator Hcluill of Minnesota who probably will be opposed by Governor Christiansen and against Senator Pine of Oklahoma whose opponent has not been picked, according to word received that either may be sharp and brief or moderate and prolonged. At the end of a week that has witnessed further serious declines, but in which acute liquidation seems lo have been compleled, the averages stand materially lover than a week ago. Although there were over 100 stocks that on Thursday morning declined below the prices of October 29, the recognized averages -of the list did not break through the minimum October figure. Out of ten representative shares Thursday, four were some points higher at their lowest level than they had previously been and two were unchanged. Of the other four stocks, three, namely United States Steel, General Electric and Atchison, showed an averag- decline of 10 points from their lowest on Oct. 29. This plainly indicated that the force of the selling movement had spent itself and while tho subsequent rallies have been disappointingly small, the market has not since given any additional signs of distress. Those who had been convinced for many months that the stock market could not go on discounting the future the way it had been' doing, appraising stocks at from twenty to fifty times earnings and ignoring the credlt;strain Imposed on this country and on all the rest of the world In consequence of this inflation, had never anticipated a break of the suddenness or the size that has occurred since the middle of September. They had not sufficiently taken into account the effect of fright once it became general on a greater body of people then had ever before been identified with speculation, and who,' like the hundreds of new stocks created anc dealt In on the various exchanges of tho country, were to have their first test under panicky conditions. The fao'. that a tremendous momentum of sales of securities has been checked and that, so far as careful Investigation proves, there have been no serious financial difficulties growing out of the smash in prices, Is the strongest proof possible of the reserve strength of the country, Its people and its Institutions. One of the unusual and damaging effects of the series,of abrupt declines In stocks since the middle of last month has been the extent to which individuals and corporations have been led Into buying on reactions of relatively large proportions, only to find themselves a few days later with losses from what they assumed were "bargain" levels. On Oct. 15 a leading banker in an interview stated that-"although in some cases speculation has gone too far In the United States, the markets generally are now in a healthy condition. The last six weeks- have done an immense good in shaking GIRLS' LEAGUE TO GIVE ANNUAL PLAY Three-act Comedy, "Hollo's Wild Oats" Will Be Presented by Senior High for Scholarship Fund, A three-act comedy, "Hollo's Wild Oat," has been chosen for presentation this year as the annual production of the Senior High school Girls' league. The play will be presented on the evening o£ Nov. 22, in the Roosevelt Junior High . school auditorium. Rehearsals of the play have been nducted for several weeks at the High school, the student members of the cast working under the direction of Miss Marie Ritts, sponsor of the dramatic group of the league. Tickets will be placed on sale within a' short time. The proceeds of the play will go to the Girls' league scholarship fund. Tha plot of the play revolves about Rollo Webster, who has a secret ambition to play the part of Hamlet but is otherwise a mild young man. He so .s his only wild oats when, through the possession of some family funds, he engages a full company to support his performance. The supporting company, particularly the flasliy stage manager, provides a great deal of amusement. The cart of characters for the play is as follows: Aunt Irfine, Rollo's aunt, Mark Beckman; Horatio Webster, Rollo's .grandfather, Harrison Libbey; Bella, housemaid at the Web-/ sters', Effie Kelly; Hewston, Rollo's man, James Owens; Lydia, Rollo's sister, Helen Sellers; Rollo Webster, a youth with aspirations, Lynn Hutchison; Mr. Stein, a theatrical manager, Mayn.ard Kennedy; Goldie McDuff, an actress, Louise Schwador- er; all of the profession—Mrs. Park Gales, Lena Stoop; Whortley Camperdown, Edgar Salkeld; Thomas Skitter- ling. Harrison Libbcy; George Lucus, James Beatty. BATES ARE LISTED FOR FOREIGN MAIL Postmaster J. B.. Brumbaugh of the Altoona postoffice has annourfed dates upon which parcels should be mailed for foreign countries to Insure their delivery in tlmo for Christmas day. All foreign parcels mailed ordinary or registered should be brought to the main postoffice for' the customs 'declarations. The numbered stations In the city are not prepared to perform this service. ' Following is the list of dates for mailing: Austria, Dec. 6; Azores, Dec. 1; Bahamas, Dec. IB; Barbados, Dec. 10; Belgium, Dec. 8; Bermuda, Dec. 15; Bolivia, Dec. 1; Brazil, Dec. 1; Bulgaria, Dec. 5; Colombia, Dec. '5; Costa Rica, Dec. 6; Cuba, Dec. 17; Cyprus, Dec. 1; Czecho-Slovakla, Dec. 7; Danzig,' Dec. 7; Denmark, Dec. 7; Dominican Republic, Dec. 10; Ecuador, Dec. 5. Egypt, Dec. 1; England, Dec. 10; Estonia, Dec. 1; Finland, Dec. 1; France, bee. 10; Germany, Dec. 1<H Gllbfaltar, Dec. 3; Greece, Dec. Itf Grenada, Dee. 1; Guadeloupe,' Dec. l|f Guiana: British, Dee. 1; French, Dee. 1; Haiti, Dec. 7; Honduras (Rep.) Dec. 7; Hungary, Dec. 2; Ireland, Northern; Dec. B; Irish Free State, Dec. 6. Italy,'Dec. 6; Jamaica, . Dec. 11; Latvia, Dec. 1; Lithuania, Dec. 1; Luxembourg, Deo. 6; Madeira, Dec. 1; Malta, Dec. B; Martinique, Dec. 1; Netherlands, the, Dec. B; Newfoundland, Dec. 12; Nicaragua: Blueflelds, Dec. B; Norway, Dec. 3; Panama, Dec. 10; Palestine, Dec. 1; Peru, Deo. 1; Poland, Dec. 6; Portugal, Dec. 5. Rumania, Deo. 3; Salvador, Dec. 13: Scotland, Dec. 8; Serbs, Croats and Slovenes, Dec. B; Spain, Dec. 7; Sweden, Dec. B; Switzerland, Dec. 9; Syria, Dec. 1; Trinidad, Dec. 10; Turkey, Dec. B; Turks Island, Dec. 12{ Union of Socialistic Soviet Republics, Dec. 8; Uruguay, Dec. 1; Venezuela, Dec. 10. The condor probably ascends to a greater altitude than any other bird. It Is believed sometimes to reach a a height of four miles. The next total eclipse of the sun visible In America will occur April 28, 1930. Its path will cross Central California and northwestern Nevada. mrently, also the greater increases in he prices of industrial stocks have jeen patly duo to the fact that in- luatial companies generally have paid out a larger part of their net earn- ngs in dividends than have the rail- •oads. "On tho whole, It would appear that railroad stocks have been and still ire on u. much less speculative basis than industrial stocks. The financing of railroads, partly because they are Bubjuct to regulation, has been more conservative than that of industrial companies. The facts as to the expenses and earnings of railways are nore readily i available, and investors n railroad stocks are much more like- y to know what they are getting for ;helr money than Investors in most ndUHtrlal stocks. "All is not gold that glitters—as many have recently, bought stocks at high prices are now painfully aware. Investors want security as well as down prices." Comparing twenty-five active listed stocks on that day, and not including any of the inflated public utilities, with the low quotations of last Thursday, it will be found that the difference is represented In an. average decline of 50 points. In the interval there had been two occasions, namely Oct. 24 and Oct. 29, when the panicky state of the market prompted men and corporations who withheld their purchases up to those days, to make them on a large scale. For Instance, between Oct. 15 and Oct. 24, there was an average decline of 42 points in the following stocks: United States Steel, General Electric, Consolidated Gas, Montgomery Ward, New York Central, Ana- caon, General Motors, Union Carbon & Carbonide,' Atchlson, and International Telephone & Telegraph. This list on thi later date, however, was off an average of 68 points from the highest prices of the year. On Oct. 29 the same ten stock's were additionally down an average of 25 points from that reached on Oct. 24 EDUCATIONAL CAMPAIGN DISCOURAGES DRINKING TORONTO, Nov. 9.—The Ontario government proposes to discourage the purchasing of alcoholic beverages In advocating temperance, despite the fact the Ontario liquor-control law is mainly Its chief source of revenue. The providence Is in-the liquor business. Legally, Its stores and 1 iw- ers' warehouses are the only places where alcoholic beverages may be bought. Now it proposes to distribute temperance tracts with every purchase of quor In every provincial rtore. The terature, it was indicated, will be In he nature of an educational campaign o discourage drinking. ividenda. This would Include stocks f the character of General Motors, National Dairy Products, Consolidated as, Anaconda, Baltimore & Ohio and Chicago & Northwestern, After having been so much below ionds In their average return, stocks lave now reached an Income basis vhlch may well encourage Investment n them by those who would In other imes be likely to employ-their funds n bonds and preferred shares. profits. The recent huge speculation ^ n ' d "Tate r ; as indicia above, part of and its outcome seem llkelv to causa ,.,.,_ ,,._*. ' i , ^ j.._, nnd its outcome seem likely to causa Investors who investigate and think to increase the favor with which they regard railroad stocks and correspondingly to reduce their Inclination to seek to make fortunes quickly in tho more volatile industrial stocks." RADIUM POISON VICTIMS ASK TRIAL DATE BE SET hero. Til ilUferenl Face Dltrerenl Situation. so-culled regulars face a much situation. Those in this Win-lit 11101.ION A. Mont., Nu y. —\\Vuther romlilinns in Montana have been ideal recently and fall wheat la looking well. The early MIWII heat is up but \ ™\- Wyoming. in the lalep lantud fields it Is not yet above ground. group up for reeled!-n include Deneen, Illinois; Kdge, New Jersey, who Is retiring to be ambassador of France, but whoso place muut he tilled; Glllett, Massachuaelts; Ooff, West Virginia; Reyes, N. Hampshire; Gould, Maine; Metcalf, Rhode Island; Phipps, Colorado, and Sackfll, Kentucky, all of whom will face lights either in Iho primary or eltclion. The only so- called regulars who .ire given a good chance for reelection without a severe contest are Capper, Kansaa; Couzens, Michigan; Mi-Nary, Oregon, and Wur- NEWARK, N. J., Nov. 0.—Two mothers, who are suing the United States Radium corporation for $200,000 each on the grounds they were poisoned by radium while, in the company's employ, awaited today the physicians' reports on the origin of radioactivity discovered in their children. Physicians are yet undecided whetbjer the children contracled Ihe dreaded radium poisoning before or afler birth. If the verdict should be that it was ire-natal, the mothers, Mrs. Helen Puck of Red Baiik, and Airs. Ethehvynne Metz, Newark, will bring suit in behalf of their three children. This was revealed yesterday when Henry Winan, attorney for Mrs. Metz, appeared before Federal Judge William Clark and asked that the cases of the two women be set in November. Dr. Amos L. Fillipone of Newark, who examined the three children— Harold Puck, aged 2; Walter Puck, aged 6, and Edward Metz, jr., aged U—la inclined to believe the youngsters were poisoned before birth. Dr. S, D. Flynn of the industrial hygiene department, Columbia university, said the bodies of the three children show tracea cf radio activity. Mrs. Puck and Mrs. Metz assert they worked for the radium corporation in 1919 and contracted the poison- Ing, as did live other women by "pointing" brushes with their lips while painting luminous watch dials. loul KV10HKTT. Mass., Nov. 0.--l j ruduc- tion of coke at the K.veretl plant of the New Kngluud Fuel & Transportation Co. in expected to exceed 700,001) tons in 193'). The increase will be- due to two new batteries of forty one coke ov ch into conimUaion July 1. hich will go MPLOYES WILL HOLD EDUCATIONAL MEETING Under the auspices of the Penn Cen, rul I.lghl and l j o\vcr company an inployes' educational meeting will be eld in the Logan room of the Penii- \lto hotel on Thursday evening, Nov. •I, starling at ij o'clock. Employes of lie Altoona & Lugun Vall.-y Electric tulh.-uy company albo will participate u the- meeting. The eiluc-ationul ' continued from the opening hour tin - lil 9.45 o'clock and then there will be liancing, cards ami entertainment un- lll 1 o'clock the next morning, Hy .;iy of cntertainnu.'nt tht.-iv will be. i comedy sketch, "Hooks and Crook.-*," in which will appear Arthur Sehell, i . . 'Frank Huwklns.Ethi.-l Hi-rshev and I •-'»'' -'<» SUtes treasury baluncu as an nouuced today as ol close oJ uiismeso .lay, Nov. T. was $173.»96.04U.6i. CUR BUSINESS TOPICS. CLEVELAND, Nov. 9.—The business of the outdoor advertising concerns is allowing «ome improvement, according to one corporation in Cleveland The companies, however, have On the Democratic side thirteen are up tor reelection and eleven are from normally Democratic slates, leaving only Brattou of New Mexico and Stuck of Iowa as promising targets fur the Republicans. There is even a i-huncu of a Democratic senate if eight Hi-publiciina are overturned. The whole house must be elected next year, the present lineup being 267 Republicans and 163 Democrats, a majority of 104. A peculiar phase of the I light U thai the .senate insurgency has not affected the house. Under the stringent rules there tho westerners | were not permitted to nmku the open ! contest they have conducled in coalition with senate Democr. la although there are threats they might become active when the bill comes before thls list went even lower than during October. The effect of this unusually protracted liquidation has been to reduce the buying power of large interests who had every reason to expect hat purchase, made, say on Oct. 24, would quickly realize them a profit and who can no longer be counted on :or the support which they had always held in reserve for market situations such as those of last month. This is one of tho most unsatisfactory phrases of the market outlook, as it includes :he positlor of the public which bought lieavily for cash last week and, fortunately, owns what It bought. Many stocks are now at prices whcih represent asset, or liquidation, values. There are not a few that are selling 1C to 20 per cent below their break-up values. From the standpoint of investments primarily, stocks today are more entitled to consideration then they have been in two years. In some cases the yield has doubled as prices have declined and dividends have been increased. In other Issues the returns have risen from 25 to 50 per cent over those on the former basis of prices The bricks for the first brick house in Philadelphia, built by William Penn were brought from England at a coat of $25,000. Samuel Osgoou 1 of Massachusetts was the first postmaster general under the Constitution. He served from 17K9 to 1791. Company Central Trust Phone 81 program will be j «„»<» ' £^™ .V i,e ^hless lo s , I '»«« agam in the form of a confer" '" ""-'" <Jt » tb -- tobu ,. ( . ( , companies took ! t : n01 ', rc l )o1 ' 1 afu ' r " hl18 P asaed tne j eii Ihe uwuy 60 per cent of Un:ir uulduur ltd- j J .senate. vertising business ill 1"2S. r. s. TKKAsruv HAI.AM;K. WASHINGTON. 1). C., Nov. a. - Uuv drup of ink makes your kl nuture u-urtb an> iiinuunt you iiuiin-. ', F i r e P 1 a c e s I m P r o v e R e 1 a x a t i o n E v e r y b o d y P r o f i t s L i v i n 8 A m i d s t C h e e r f u 1 E 8 t h e t • i c Marlon Dc-Huveu. Speakers ut the eUuculionul meet will include O. E. Gecsey, Blanche I U>ni rocelptH for tho muflth to date JJIxon. Blanche Lie-big. Bryon Mlllei-, | $a,7uV.72-l.02. Totul txpi-iiduui-es. Sin,W. M. Eaper uud Frank Heunamau. 270,5a&."9. i Or DC&TOM. MAMA«nuftin* -..;.;:; ,n. IIIONMNU. Mgr. tuiuiuerce JUlUjf., Altooiiu, i'u. S u r r o u n d i n g s Standard Realty Co* 1013 Bridge St. Christmas Treasure Hunt Contest An Announcement, To better serve YOIT, we are pleased indeed to announce that Mr. W. B. Moore, better known as "BILL" MOORE formerly of ^he Fluke Co., Inc., is now associated with us in our , Lumber Department. He is in charge of our mill and your every order will be carried out as only he knows how. General Builders' Supply Co. Phone 9331 1720 Margaret Avenue FLASH. -theres if our station! R V A D I O A touch of the fingers—a dramatic flash of. light—and the station you desire is tuned in instantly— perfectly —by Edison Light-O-Matic Tuning I The new Edison Radio has many marvels of engineering of which the Light-O- Matic Tuner is only one—marvels that you can expect only from the musical instrument bearing the greatest name in science. See this superb radio—compare it with others—and you will know why it is acclaimed as the radio far ahead of its time. Easy terms to suit your convenience Prices from $167.50 «m4 up Gable's 12th AVENUE BUILDING ARCADE . t^i't* •^y_ T , Ct

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