Altoona Mirror from Altoona, Pennsylvania on November 11, 1929 · Page 5
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Altoona Mirror from Altoona, Pennsylvania · Page 5

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Altoona, Pennsylvania
Issue Date:
Monday, November 11, 1929
Page:
Page 5
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W&fr**' THfi ALTOONA MIRROR—MONDAY. NOVEMBER 11, 1929 i IN f HE BUSINESS • WORLD OF TODAY By J. C. HOYtE, Staff Correspondent. (Copyright, Ifl29, by Altoona Atlrror.) NEW YORK, Nov. 11.—Stock and bond holders In American corporations will find at their disposal more complete and frequent Information as to the status of their companies in the next year than ever before. This Is being brought about rapidly by the upheaval in stock, bond and commodity prices on the various exchanges. 'Some concerns have already adopted the policy and men prominent In financial affairs, especially those connected With exchanges as officlftls, with banks and with state and government regulatory bodies, are furthering It to the outmost. The trend was Strikingly shown during .the fall in'values-6n the New York Stock exchange by the action of the president of a concern engaged In handling food products, backed by a banking house which has hitherto, always followed a policy of silence concern- Ing Its own affairs and thosa of the corporations it has sponsored.. This statement said in part: "A debacle has occurred in the stock market. Our security is common with the general list has been swept down to a point where it yields the investor approximately 7%' per cent a share. This tremendous reduction In market values effects every one of us and even the most conservative are apt to be influenced by the voice of panic. You are entitled to be reassured with regard* to your corporation. After out> lining the condition of the company y the statement continues: "We are •facing the future with implicit, confidence." ', . The communication declares in conclusion that it is the belief of the company that the annual report does not keep stockholders informed frequently enough as to conditions, as too much history is' written in a business year to make a complete annual report practicable. It will be the policy • of the company in future to inform stockholders at briefer periods aa to the state of the corporation. The president of a great oil company said to his stockholders: "I know of -nothing In the future of the oil industry which justified the extraordinary depreciation of oil stocks today. No new conditions have arisen threatening our company or, so far as I know, the industry. On the contrary the prospect for effective conservation which will result in balancing production with demand is brighter today than it has been at any time." This company is backed by interests to whom In the past silence has been a festish. Other corporations are laying their cards face up on .the table. The salutary effect of this policy has been shown in the volume of buying or long pulls by both large and small investors despite the unsettlement which has prevailed In the markets. The policy is finding special favor with the public utility companies who have stressed the customer-ownership idea. The Investment trusts are following suit and for the first time, the holders of- many of the investment trust stocks are getting a real idea of what Is being done with their money. This should not be taken to indicate that information was with' held or concealed. Many of the investors In such stocks have not had a complete knowledge of just what an Investment trust Is or how It operates. v The progress of mergers in many \ lines has been checked materially by readjustment of stock prices. " the mergers have been plan. basis of exchange of stocks. Error grams**"* (Copyright, 1929, NEA Service, Inc.) There are at least four mlxtakei In the nboite picture; They may pertain to grammar, history, etiquette, drawing or whatnot. See If you can flnd them, then look at the scrambled word below—and unscramble it, by switching the letters around. Oracle yourself ZO for each of the mistakes you flnd, and 20 for the word If you unscramble It. Tomorrow we'll explain the mistakes and,tell you the word. Then you can see how near a hundred you bat. . • . • • • * SATURDAY'S COBKECTIONS. (1) The yard lines, on the side of the team kicking off, are missing. (2) The klckoff should be made from the 40-yard line, Instead of the 50. (3) The goal posts should be 10 yards behind the goal line, Instead of on It. <4) The apostrophe Is missing from the word "game's." (5) The scrambled word Is VISITORS. responsibility tot holding the situation' from getting 1 entirely out of hand and developing Into ft .r' i which would have made the famous "Black Friday" look like ft bright spring day, has been variously placed. The, federal reserve system Is given credit. So are the New York banks, The action of a great Industrial corporation In declaring an extra dividend Is held ft factor. But fliere Is small doubt that matters would have reached ft mti.ch more serious stage had It not been for the developments In communication. The movement of cash, checks and securities by air mall reached record breaking heights In the last fortnight. Traders were protected Instead of being wiped out entirely because It was possible to reach them quickly by mall, telegraph and telephone. The long distance calls made established records for expense, number and distance. Investors abroad were almost aa readily reached as those at home. The cables and land vflres carried ft huge volume of Important business dispatches and large sums were transmitted by^wire. Executives whose presence was required at certain points were able to reach those points more quickly than ever before in. history. The members of the federal reserve boards in Washington and the eleven other districts might just as well have been sitting In the board room of the federal reserve bank of New N York, so far as being in close touch was concerned. RECOUNTING VOTES IN HAZLETON'S ELECTION HAZLETON, Pa., Nov. 11.—Ten votes have been cut by ft recount from the lead of William L. Gerlach, Republican, who defeated Mayor James G. Harvey, Democrat, In the mayoralty contest here. Six boxes have not yet been opened. The recount was ordered after counsel for Harvey alleged fraud in the official count. MARRIED IN PARIS. PARIS, Nov. 11.—Clifford Gray, Chicago musical comedy producer, and Mrs. Clara Louise Cassldy of Syracuse, daughter of Charles A. Whelan, president of the United Cigar Stftres, were married here yesterday Gray was a member of the world's champion Boss- leigh team at St., Mortiz. The couple will honeymoon In Italy. THIS AND THAT. In Mexico City a man appeared on the main street, took off his coat, danced before automobiles like a bull- Ighter In the arena. When motorists veered away, the pseudo-matador shouted: "These animals have no fighting spirit." Borne oft to Jail, stralghtjaeketed, he told wardens that ie was a millionaire, offered huge .sum •or his release. * * • In Portland, Me., Willie E. Sanborn has for seventeen years gone to a well on the grounds of the Pennell Insti- :ute to obtain water for his boarders. Recently he was convicted of larceny of ten quarts of water, valued at $1. Sentence was suspended; Snnborn was put on tw<5 years probation. In Utlca, N. Y., one Harry Howlett, garage man, sued the New York Telephone company and Mrs. Dorcas Stockhauser, operator, for $10,000. Charge: that since 1923 Operator Stockhauser, daughter of a rival garage man, diverted all calls to the Hewlett garage, sent them Instead to her family's garage. In Merrill, WIs., one John Aho sits In the county jail making bird houses Negotiations can no longer be carried on with present market values as a basis. .AH exchanges of securities must be worked out on a new basis; which takes time and is ineffec' tual until the markets stabilize. In analyzing the effect of the recent securities market developments, out <Jf condemned slot-machine*. In Manhattan one Charles Morchelle, former attendant at the Children's Hospital for Mental Defectives at Randall's island, awaited trial for the murder of 6-year-old Sol Swick, an Inmate of the Institution. At noon he ate the prison luncheon, died of acute Indigestion. The parents of the Swick boy, who reside in New York city, did not learn of the death until two boys escaped from the Island by swimming to the Bronx shore. KINO VICTOR IS 0(1. ROME, Nov. 11.—The 60th birthday of King Victor Emanuel III was celebrated today throughout Italy with rather more than the customary amount of pomp and ceremony. The major event of the day was the customary review of the garrison of Authorized Dealer for SCREEN GRID RADIO J. E. HEAPS ELECTRIC CO. 1004 Chestnut Ave. Phone 2-1022 to/il^Af*J*iftoiQ£&4 Be A Winner! Start Today! $3OO in Cash Prizes I H. W. McCartney Co. * * ' •»! Stationery, Wall Papers, Paints, etc. 1107 Eleventh Avenue Rome passed by the king, •'who took. the salute from a number of Infantry regiments from bersagllerl and from squadrons of cavalry. GERMANY IGNORES DAY. BERLIN, Nov. 11.—Citizens of Germany today Ignored Armistice day, as they have done for the past ten years. A holiday or memorial day solt'-evt- d tly marks an event which people desire to remember. Armistice day Is an occasion which Germany wishes to forget. Majestic Radio sold bjr THE J. IS. . 8f»fc.N|b« ELECTRIC STORMS Authorised Defttert 1310 lUth Ave. Dial Christmas Treasure Hunt Contest Entry Blank will h^ found on PHRC 2 In tonight's Mirror. ' faw^vfa<*fyw^i*r9'*r Service With Every Sale Willi' every Victor Radio our expert service is always at your 'command, day or night, and Wolf's reputation of years experience tells us tliat you should purchase, where you get the best in Radio—Plus reputation of quick free service. Victor Radio R-32 $155.00 1.KSS RADIOTBONS Victor Radio Electrola RE-45 $275.00 l.KSS RAIHOTRONS EASIEST TERMS IN THE CITY Wolf Furniture Company 1501-03 Eleventh Avenue "27 Years-of-Honest-Service" I A,'j *ii^^4^p«*j&g**i&4H*ffi< v lines nas i the readj /^'Many of i -•' ned on a Win $100 Cash! Start Today on the Christmas Treasure Hunt Contest Ladies' Hat and Dress Shop 1419 Eleventh Ave. Entry Blank will be found on Page * In tonight's Mirror. 1 H EI HZ presents a'new, delicious and healthful "TUioona RB 1210 French Room Event Extraordinary! 100 STUNNING DRESSES REDUCED —from their Original Selling Prices— Brett's Regular $29.95 to $59.95 Fashions Transparent Velvet Dresses Are Included! For Street—for Afternoon—for Evening— frocks for every dress-up occasion! Supple gleaming Transparent Velvets (the material sells at $6.95 a yard) . . . rich Canton Crepes (tha heavy kind that drapes in graceful folds) , . . lustrous satins, filmy chiffon. Here are circular skirts, uneven hems, triple tiered skirts, deep lace collars, sparkling ornaments—everything that is FASHIONABLE in one marvelous group at Twenty'five Percent Off! All the Favored High Shades That Are So Attractive Under Winter Coats Our Recent Purchase Makes This Offering possible. Brett's — Main Floor Hot cereal All ' Size* lor V Misses and Women Only Heinz could have done it Heinz HAS done it! Taken wheat— the staff of life—and made it a treat for breakfast. Given it a new flavor/ a rich mellowness that makes the word "delicious" MEAN something. Imparted to it a creamy smoothness that makes this new food actually melt in your mouth...All the wholesome goodness of golden wheat. Vitamins, mineral salts, quick energy, PLUS a pure cereal cellulose that acts as a gentle, natural laxative...Heinz Breakfast Wheat! What * / a flavor! What a FOOD for all the family. Eat and be happy, be healthy! BE YOURSELF! H MHH •• H^ •• MMMW (The process of making this unusual cereal is owned exclusively by Heinz.) EINZ Breakfast Wheat OTHERS OF THE 57...HEINZ RICE FLAKES, HEINZ OVEN BAKED BEANS, HEINZ SPAGHETTI

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