Arizona Republic from Phoenix, Arizona on February 17, 1941 · Page 21
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Arizona Republic from Phoenix, Arizona · Page 21

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Monday, February 17, 1941
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'•H; newspaper circulation built entirely on ,„.,. Assn., Ariz. Assn., Audit Bureau of itions. ARI (Section Two) 51st Year, No. 275, Phoenix, Arizona TO PUBLIC (Section Monday Morning, February 17, 1941 Two) Only morning newspaper in whole Southwest served by all three—Associated Press, United Press and International News Service. OF SPRING DRIVE FLOORS MARKET * * * * * **************•*******>******** „ „ „ „ „ , lorn Levels J)f 1929 Topped By Steel, Auto Plants And Cotton Factories Hi Hinges lefense Of Heat Britain How's Business? COMPOSITE BUSINESS CHART on war sid in speculative u «rld shaking events in e have become almost a tra- 1 "£? in the market place since ill Hitler began his conquest of into Austria in This index—compiled by the Publisher* Financial Bureau—is a composite of live recognized business indexes. nouulast April and May i sounded in loud market, cracks, i expe •e Wi This experience has taught the Herage Wall Slrceter military Trade Volume Flattens Out For the second lime in three By ROGER W. BABSON well as flowers bios'-j weeks - business volume shows no ;time. [change. My composite Index this , „„„.,« e 'lessons of the past!week is 168 per cent above normal. Jfc«i vears has been testimony in; which is the same figure registered Ife lend-lease bill hearings in con-1 last week. A year ago. business •Ires, forecasting another spring,was 1.5 per cent below normal. It Irisis from the expected attempt by j will be remembered that during the Hitler to brine the battle of Eng- second and third weeks in January L • • • business made two sharp gains i In a decision. . Result Hinces On Britain Immediately in question, as fi- untial commentators view the war Householders should now put rising income into permanent fixtures so they will have something to show for their present labors after the war boom is over. There are no signs yet of anv falling off in the demand for workers in most capacities. Jobs are certainly available for those who wish them. Municipal and govern totaling 12.2 points. A period ofi" 16 " 1 ^''f loaa , s a ™ diminishing digestion is in order. to he betterment of he city, state. digestion is in order. Armament contracts now total itiiation, is England's chances ofj ove r $12.000,000,008 and the end is rarding off threatened blows at| no t yet in sight. It takes time for fte British Isles, in the Mediter-, these contracts to be translated into anean and possibly at her far astern bases. Economically the United States actual dollars and cents in individuals' pocketbooks and bank accounts. However, sales of retail t so closely tied with the British establishments are now reflecting mpire, business and market f ore- 1 the increased purchasing power of ntsing largely hinges on the out- the workers. sme of the axis strategy to over- De mands for furniture, household erne .strongholds of British power equipment luxury goodSi and doth . Ine industrial tieup with England Jr tively has become greater sine, continent and war materials! me a groling proportion of U. I exports to Britain. gBehind the question of England's ; stamina, it appeared, was "jility the United States »to war. Selling Wave Felt . leaviest selling and widest i declines in security markets 1hat money s| , ould now be spent for household improvements and utilities of a lasting nature- and national-debt picture. Total employment is hardly possible; but there are now at least 1.500,000 more employed than there were a year ago. This figure could he doubled before a real scarcity of workers is encountered. Rents, clothing, food, fuel, electricity, ice, and, in fact, all items naturally included in the cost-o£- livinj; picture continue at relatively low levels. Rents alone show a tendency to rise against the fairly firm status of other items. Gradual increases in other items are bound ultimately to appear, but the current situation gives, as yet, no cause for alarm. Common Share Home Building Listed Paradox Seen In Dividends, Stock Prices NEW YORK, Feb. 16—(AP)— The billions of dollars at which America values its vast inventories of stocks and bonds appears to be beginning its third severe price test since the war in" Europe began, informed Wall Str.eet quarters said today. Share prices, weighted by the wops and uncertainties of war over more than half the world, sank this week to the lowest levels, with the! exception of June 1940 anrt th"e spring of 193S. since 1935. This occurred even while American industry was turning out a greater physical volume df goods, for defense, for Britain and for an expanded and more solidly employed populace than ever before in its history. The Associated Press index of industrial activity—embracing such key activities ax automobile production, steel mill activity, cotton goods making, home h u i 1 d i n K and freight movement — stood at 124.D, above even the boom levels of 1929. The Associated Press average of the prices of 60 representative stocks was down to around $40, almost as low as when Germany was invading the low countries and France last June. Earnings Compared One close observer, however, pointed out that while the common shares of one of the greatest railroads in the country, which paid dividends, depression or no depression, is selling at a price to give the buyer a return of 6.56 per cent on his money every year, the stock of a big communications company yields 5.S9 per cent, and that of a leading oil concern 5.17 per cent, cavings deposits gave a return of only about two per cent over most parts of the country. The conclusion of this observer was that share prices had already "discounted" more troubles than war. destruction and growing taxes had yet produced. Reactions Are Felt Dollar Purchase ^ \J £ Accident Total Price Plus 17 A (Exclusive Republic Dispatch) NEW HA VEX, Conn., Feb. 16 Wholesale commodity prices for the week past, based on the Dunn and Bradstreet quotations, was 85.4 per cent of the 1926 level, Irving Fisher, Yale University professor, announced today. The purchasing power of the dollar is 17.1 cents higher than it was in 1926, Professor Fisher said. In the following table the first column shows the net change in the purchasing power of the dollar and the second an index of wholesale, commodity prices as compiled by Professor Fisher. Average conditions for 1926 are taken as 100: 1914 Dec. (lo»t*t> I920 May (prak) . 192:1 AvrragR ... 1924 AVPFARR ... Ifl'Jft Avrraen ... 192ft Avrrnjj« ... 192" Avfraxe ... 1928 Avrrace ... 1929 Avrrace ... 19:10 ArpraiK ... 1931 Avprace ... 19:12 Avtragn ... 1 9:r.l Ax-ran* ... 1934 Avrracr ... 193.1 Avpracn ... 19.11; Avrratfi ... 1937 AvprasP ... 1939 AveraKff .... 1910 Avrragr .... Jan. Averse* Feb. averag* Mar. ji\nra;r* Apr. averaiE* May avrracn July avtraRft Auc. avrrac* Srpt. avrragn Oct. average Nov. averace. Pee. average 1941 4an. lit urpk Jan. 2nd week Jan. 3rd week Jan. 4th week Jan. Ath ivppk Jan. Average. Feb. l«t week Feb. 2nd vvptk + 23.2 + 22.0 + 20.4 + IX.lt + 17.7 + 17.1 + 1S.R + 1H.1 + IB.I 4-16.fi + 1S.S + 17.1 1-17.1 (Copyright. 1941. hy Irving Fisher) + 48.0 - 40.2 — 1.1 T 1.1 — 4.9 0.0 + 2.1 + 3.9 •f 18.1 + 40.* + B2.4 + 56.* + 30.7 + 20.S + 19.S + 10.3 + 23.2 + 23.7 + 19.7 + IB.S + 18.2 . + 18.S + 19.4 + 21.2 67.3 Ifi7.2 101.1 98.9 105.1 J III).II 94.Z 97.9 96.1 86.3 71.4 61.6 B4.fi 76.fi 83.0 83.7 90.7 81.2 80.9 83.B s.-,.s 84.B 82.2 84.4 83.8 R2.3 81.9 81.2 R2.0 83.0 84.4 85.0 85.4 83.8 86.1 86.1 85.7 85.8 85.4 85.4 Nickel Supply Termed Short CLEVELAND. Feb. 16— (AP>A shortage of nickel, essential metal used in armor plate and stainless steel, is a source of con- Others, however, banking on cern to the industry, the maga- s ar-hv developments in thp war!?ino "Stppl" renorterl todav. By •}. G. DONLEY NEW YORK, Feb. 14—The busier we are the more accidents we have. The cost of rising industrial activity, of increasing prosperity, is a greater toll of death and injury from accidents of all kinds. The 1940 accident death toll in the United States was 96,500—four per cent greater than the 1939 total of 92,623—according to preliminary figures compiled by W. G. Johnson, chief statistician of the National Safety Council. "Increased activitv in all fields largely attributable to national defense—was the key to much of the increased toll," says Mr. Johnson. "But rising death and injury totals cannot be accepted as an inevitable accompaniment, to national preparedness. Successful accident prevention often has been achieved in the face of increased exposure." Efforts To Be Redoubled Efforts of safety engineers may be redoubled this year, and they should become, in effect, if not in fact, a part of the national defense effort. For it is highly important at this -stage of planning and working to make the nation strong that such waste of manpower and economic strength be reduced to a minimum. From the arigle of military manpower, Mr. Johnson points out that accident deaths during 1940 among men in the selective service age brackets—21 to 35—totaled approximately 14,000, and thus amounted to the destruction of a full army division. There is some encouragement, however, in the fact that the 1940 toll, despite the record pace of the industrial speed-up for defense which finds many workers traveling 30 to 60 miles by motorcar to and from work, is far from the highest on record. In 1936 there were 110,052 accident deaths, or 14 per cent more than in 1940. In fact, six of the 10 years. preceding 1940 turned in higher' death totals. ' . . Present Figures While no effort is made to put an economic value on the lives lost through accidents, Mr. Jonn- NEW YORK, Feb. 16— (AP>— came after Wendell L.j Corporate earnings 'reports issued ijacking the lend-lease bill during last week, showing profits JN aid to England, said the flStates would be at war in a tltae if Britain fell. ring the complexity of i entering into market fluc- ns, the impact of this testi- r on speculative quarters was ~"»le to measure. But it to spread tlfe notion that ttory, with the approach of was nearing another big ; point which would influ- :airsfor some time to come. -Out of the collapse of France and Iters for the fate of England '«^N the United States' $28,HJ,000,000 defense program, hold- Jf promise of the biggest "pump- injection of government pending since the World War. Industry Forges Ahead tarly results of the tremendous per common share Included: 1940 1939 Quarter ended Dec. 31 Black and Decker Colo. Fuel and Iron Continental Steel' Reynolds Spring $ 0.72 .57 1.26 .86 $0.48 .98 2.21 .97 American Can Chain Bslt Chrysler Clev. Graphite Bronze Cluett Peabody Crucible Steel Du Pont M. A. Hanna George W. Helme Kroger Grocery Libbey-Owens-Ford Year ended Dec. 31 Monarch Mach. Tool G. C. Murphy National Biscuit Pacific Tin ) . ._. ...^ industrial statis-j Sunshine Mining »<s, aiowing record breaking con- Union Bag and Paper nmption of rubber, cotton and I&L™^ along with an- M st ' 7 construclion winter- activity in U. S. Tobacco Western Union Woodward Iron other IF. W. Woolworth 5.88 2.13 8.69 4.10 3.74 10.24 7.23 2.33 5.15 2.51 3.97 5.63 6.58 1.50 .90 1.82 1.67 2.08 3.46 4.27 2.48 6.22 1.92 WASHINGTON, Feb. 16—(AP)— The Federal. Housing Administration reported today that construction of 103,187 small homes were started with private capital under the FHA program during the last seven months, a 32 per cent increase over the same period a year ago. About 85 per cent were in areas where expanding national defense industries created housing needs, Abner H. Ferguson, administrator, said. near-by developments in the war spreading to east and west of the United States, have been pointing to market history to indicate that each major turn in the conflict has '. seen its reaction in quoted prices i here. The war pattern has run like this:. 1. From mid-1938 until the spring of 1939 share prices were in a climbing mood, paced more or less to a general recovery in American industry. 2. As more and more operators 8.47 5.42 4.16 2.54 i 7.701 1.23 5.961 CHICAGO, 3-02 travel on a 3.53 6.47 1.68 .47 2.13 .76 1.76 1.32 2.25 3.02 -. -ie noiss of fall-i «ciinry markets. lay beyond the heralded Jnjl crisis a to P' c railing ,. n various ideas. But visible in reports was evidence off in productive onr - wny operations in major indus- to that the fall in markets had interfered SSit ™ t COrp ° rate "nancing and Sflfl* « temporary crimp in of ca P'tal for defense lonRer vicw - h °w- seemed out- rm __ . _. ^ . Makes Big Gain NEW YORK, Feb. 16—(AP)— The Ruberoid Company, makers of builders products, today reported 1940 net profit of $802,100, equal to 52.02 a share after federal income and capital stock taxes, compared with $608,128, or $1.53 a share, in 1939. Sales of $17,369,902 were the largest in the company's history and topped 1939 by nine per cent. Plants are in New Jersey, Illinois, Pennsylvania, Maryland, Alabama, Minnesota, Massachusetts, Missouri ad Vermont. r indice8 .Probably after a spring aus "" iSf e5 orcuttin|!;EnBlan<l ' B ' Air Lines To Try Installment Plan Feb. 16—(AP)—Air monthly installment paying plan will be inaugurated on March 1 by 17 leading air lines, the Air Traffic Conference of America announced today. The plan, similar to one used for nearly a year by many railroads, applies to "fares o'f $50 or more. No collateral or down payment is required, with the cost spread over several months. "The air lines In adopting this plan are convinced it will enable them to tap an enormous new market," the announcement said. "A recent survey showed that. 63 per cent, of the persons who have availed themselves of the opportunity to purchase (railroad) transportation on the installment, plan would have stayed at home had the plan not been available." Applications for travel credit may be made at any air line ticket office or travel bureau. A service charge for such accommodations is made. Ingot, Casting Record Broken NEW YORK, Feb. 16—(AP)— January steel production reached a new record high of 6,943,084 net tons of open hearth, Bessemer and setback, it was e than off- armament TOnp *,; {.I ,"''»" oliM -" was effect ftll , ght J haV( ' on lhr nation's fetors £ dy one of < h " foremost f^? 15 W security evaluations. A in fedora! taxes has . exhibitPd in market over the next tax rnpgs- thU . en mostly ovrr how ^'A* 1 ' wo ' l!d burden may t profits'to England in i electric steel ingots and castings, tho American Iron and Steel Institute said today. In the previous peak month. October. 1940, production totaled 6,643,975 tons. January output represented a gain of 7 per cent, over 6.493,849 in December and 20 per cent compared with 5,768,729 tons in January. The world's first underground chain-rope railway has just been installed in Germany's only copper mine. o Sending special letters by pigeon, is being considered in England. zine "Steel" reported today. "A maker of stainless steel sheets promises delivery in 16 to 18 weeks, with a clause exempting him if unable to get nickel," the trade publication said. "More and more do makers insist on showing of priority slip* from Washington before booking an order. Often such a slip is four or five stages removed and has to he traced through prime contractors and subcontractors." Several steelmakers are taking in the stock market concluded war .. drastic steps to apportion steel was inevitable, prices hroke,sharply - • •••into the summer of 1939. 3. When war broke out in Sep- some have "de- against incoming orders from branch offices for a equitably" and clared a truce tember of that year, the vision ofj time Dur jng the interim, one im- quick arms profits brought a boom- portant flat steelmaker is making a careful survey of 1940 shipments let. that lasted until towards the end of that year. Balloon Still Deflating and will restrict customers this year to the tonnage they took then Distillers Firm Reports Profit NEW YORK, Feb. 16—(API- National Distillers Products Corporation for 1940 today reported net profit of $6,711,962 after taxes and charges, equal to $3.28 a common share, compared with $7,007.124 or $334 a common share in 1939. Net sales totaled $70,927,647 in 1940, compared with $59,170,887 in the previous year, an increase of 201 per cent. | The smaller net, despite larger j They have been waiting for the sales, said Seton Porter, president,[vaunted German offensive—and an was due to provision of $2,226,750] indication of its outcome." for federal income and capital stock taxes, against $1,077,707 last year, an increase of over 100 per 4. Ever since, that balloon h95i w ith due allowance for increase in been deflating, as higher taxes andl^efense orders.' the enormous complexities of esti-| Tn j:..;,j,,.,i ctppimak-ers the matr- mating the proper values of indi- {"£'Vontinued £ its weekl? Anav^'k^new buvVs"^ frnin' " ™ "° a " d ° * mVe%fS £b ;™,™ P ' of rationing, knowing more pre- Thi' tmminon,.. f i „ „„ . , n cisely the needs of i ne imminence ot Kev moves in ,j vir n( .u;nrrt/in the war, as many Wall Street men' cou Washington, see it, makes a nearby testing of the price level almost inevitable. This is particularly true, these market men think, because the present average price mark is what they call "critical," that is, about at the same point where previous declines of recent years have been checked. To orthodox students of the price trends in securities a breaking through to lower levels from this point would be a sign that a further slide was in prospect. Many men who have watched the stock market for years, however, express reluctance to follow mechanical rules as to price movements when the whole i world is topsy-turvy. Businessmen Fuzzlrd Publications that businessmen follow closely have been speculating regarding the problem of share prices with renewed interest recently, after a period in which a do- nothing stock market had made such comment almost pointless. This is the way in which Business Week, in its leading story today, saw the market situation: "x x x Common stocks cannot be considered good buys when conceivably they might be picked up at war-sale prices, 10 to 15 per cent lower, a few weeks later. So bargain hunters have been holding off. "Supply situation become* ever tenser, though many well-informed member* of the industry believ« this is the zero hour and that by summer the confusion will have given way to a degree of calm." The publication's index of steel ingot production dropped one-half point last week to 96V4 per cent of estimated capacity. Slight adjustments in certain steel scrap specialties caused the review's composite on iron and steel to climb three cents to $38.23, while finished steel and steelworks scrap were unchanged at $56.60 and $19.91, respectively. Samuel Travis, 54 years old, was arrested in London charged with stealing a suit of civilian clothes from the British War Office. Using three horses, Charles Turner rode 800 miles from Leigh's Creek to Winton, Australia, in 14 days. cent. KUNZ BROS. & MESSINGER PHONE 3-7711 _«,.,, mr . P ° ENGINEERS AND MACHINISTS GENERAL MACHINE WORK id Gu Englnei. CORNER SECOND AVENUE AND JACKSON Heinze, Bowen & Harrington, Inc. HEADQUARTERS FOR OFFICE SUPPLIES MAIL ORDERS PROMPTLY FILLED 228 W. WASHINGTON PHOENIX Lee & Garret! AUDITORS ar^ACCOUMTAMTS \l2thFloorLUBRSTOWER/ INCOME TAX Marine Casualty Insurance Fidelity and Surety Bonds Representing Many of Amertct't Leading Insurance Companies Phoenix. Arizona ^^ r *tA*C*.«.*t.CC p none 4-B515 Ground Floor Professional Building Rises With Prosperity son presents estimates of wage losses, medical expense and overhead costs of insurance due to accident injuries resulting in permanent or temporary disability. His figures run up to a rather staggering total, as follows: Accident Costs Motor vehicle $1,600.000,000 Home 600,000,000 Work 650,000,000 Public 400,000,000 Total costs $3,250,000,000 The total number of persons injured in 1940, in various,kinds of accidents, according to Mr. Johnson's estimates, was 9,200,000. Of these 1,200,000 were injured in motor vehicle accidents which are estimated to have caused about 100.000 permanent disabilities. The toll of injured in accidents in the home was 4,750,000, with falls and fires the most common causes. Accidental injuries suffered while at work involved 1,400,000 persons. So- called "public" accidents (excluding motor vehicle accidents) resulted in nonfatal injuries to 1,850,000 persons. Under this classification come falls in public places and also accidents on all manner of public conveyances—-land, water and air. Few Major Disasters Mr. Johnson says there were few major disasters in 1940, so that nearly all accidents were one or two-death cases. Classified as to kinds, the national accident fatality toll last vear compares with 1939, as follows: 1940 1939 All accidents 96,500 92,623 Motor vehicle 34,400 32,386 Public (not motor vehicles) 15,500 15.500 Home 32.500 32,000 Occupational 17,000 15,500 Half of the 1940 increase in the total accident death toll came from motor vehicle accidents, with an increase of six per lent in traffic deaths. But, since motor vehicle mileage was also estimated to have increased six per cent, the death rate per 100,000,000 vehicle miles was unchanged at 12.0. Occupational accident fatalities rose 10 per cent, and home accidents rose about two per cent. Mark Is Set By Pig Iron CLEVELAND, Feb. 16— (AP>— Another all-time peak In pig iron production and the possibility of a new seasonal record in ore shipments were recorded today by the magazine Steel, as the industry's operating rate remained steady at 97 per cent and demand continued unabated. The volume of steel sales continued to increase, "though not as rapidly as previously," and the bulk of steel sales are now for second-quarter delivery, with some for early third quarter, the publication said. Steel prices for the second quarter probably will not be announced for three weeks, and "hinge entirely on wages," since scrap prices have declined. "Some predict well over 75,000,000 tons of Lake Superior iron ore will be shipped in 1941," topping by nearly 10,000,000 tons the previous record established in 1929, Steel said. At 4,666,233 net tons, the January production of coke pig iron established a new all-time record. The pig iron operating rate increased 2.3 points to 98.7 per cent of capacity, and has registered consecutive gains each month since April, 1940, except for December when it paused at 96.4 per cent. The Ford Motor Company, again the first inquirer of the season for iron ore, is asking for 295,000 tons, compared with last year's inquiry of 280,000 tons. Among the "surprises" of the market are additional orders from consumers who had been considered well supplied, and further plant extensions by companies whose extensions "presumably had been completed," Steel reported. Nationally, Steel reckoned ingot Electric Bills Continue Drop WASHINGTON, Feb. 16—(AP)— The Federal Power Commission said today that the trend of average monthly bills for residential use of electricity has been downward each year since 1924. In a survey, the commission said the average .bill for 100 kilowatt hours in October, 1924, was S6.18 and on January 1 of this year it was $3.83. On January 1, 1940, it was $3.88. production unchanged at 97 per cent of capacity. Two of Steel's composite price indexes dropped, due to reductions in scrap. Steelworks scrap was $19.91, down 18 cents and the steel index was $38.20, off 2 cents. o China shipped 113,000,000 cigarettes to Japan in one month. 10 KT. GOLD MOUNTING $5 and your old mounting buys this modern 1941 setting 50c WEEKLY 46 E. WASHINGTON TYPEWRITERS NEW AND USED ROYALS^ «nd Olhtr Mnkn UntmlltJ Semite Department Babson Urges Labor Peace In Emergency By ROGER W. BABSON BABSON PARK, Fla., Feb. 1&— I have always been sympathetic with labor. During World War I, I served as assistant secretary of labor in Washington. I am sure that labor leaders will tell you that I was fair in solving the problems that came to the department: and, believe me, there were enough of them! I soon learned that arguments did not do much good, and that lawyers only messed things up. Labor troubles are emotional, not statistical, and the cannot be "fought" successfully. Both sides are usually honest and serious from their point of view. The quickest way to solve • real bad labor row is to take the employer around to the homes of the workers and see the conditions under which they live. Then have some of • the strikers shadow the bos* for a few days and see how he is working for them 12 to 18 hours a day against the keenest competition. Of course, there are some labor leaders who selfishly think only of themselves. They purposely stir up trouble to get the union to give them a raise in pay. Some are connected with wicked racke'ts. These should be put in jail. Most labor leaders, however, are earnest and trustworthy men working to better the conditions of the workers as they see the light. The chief cause of labor troubles is not the labor leader, or the wages paid, or the working conditions; but rather the expensive manner in which certain employers live, the way their children foolishly spend money, and the mistakes they make in exhibiting their power and wealth. Very few wage workers are jealous of the . employer who founded the business; but It does "burn them up" to see the employers' children racing around town and blowing in money, while their own children have barely enough to eat or are unable to continue schooling. So much for where I stand on the labor problem. Furthermore, let me say that in normal times labor unions .are both right and necessary. When it comes to questions of strikes or lockouts, in days like these, I feel that both are selfish, cowardly and unpatriotic. The stirring up of 750,000 rail workers (Continued On Page 5, Sec. 2) Remember 43 —and you've got our number Don't Throw Away Old Shoes You can have them remade at such & small cost that it would be silly to hu y new ones. Bring them to us now ... have those heels braced, too. PAYNE'S Shoe Service 35 E. Adam* BILL RUDD this question "My husband carries a personal accident policy. If he should be Injured and his employer did not stop his salary during the period of disability, could he also collect indemnity from the Insurance company?" on any insurance problem consult HI ,111(101 «| INSURANCE 2^*^ A6ENCY PHONE 4-1135*35 W.JEFF. £ASY MONTHLY BUDGfT PAYMENT PLAN K D GRANGE was No. 77. There was the Old 97. Numbers often meartsomething special, particularly our favorite number—43. Of all the motorists who dropped in at Standard Stations during the past year, 43 in 100 called exclusively for -free service. That's being neighborly. * * * Now, when nearly half our customers drop in simply to have the windshield cleaned, air put in the tires, or the battery checked, it makes this Company very happy. It shows that the old inhibitions against asking for service without buying something are a-boggling down. Relations have become friendly.^ ^ ^ Standard has many reasons for hoping that all motorists will quit waiting until they need gasoline or oil before they ask these services. Consider only our most selfish reason: Clean windshields, sure tires, dependable batteries contribute to the safety, comfort, and pleasure of motoring. Wherefore people drive more. More gasoline is sold. We share in the benefits. Everybody profits. * * ' * Each year we hope to do a little more business. But we hope with equal sincerity that in the next 12 months still more motorists will drop in for service—without bothering to buy anything. They'll increase their volume of pleasure. Some lives will be saved —due to an increased volume of safety on the highways. Our services are — sincerely yours. Standard OU Company of California

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