davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-07-21
AND HERE TT CONTINUES

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DAY on the Carlton Rapid~ II was
only the dny bcrorc that I'J oct ,ou
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loose
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arms, | got naStl--I have fits like that
sometimes, when Two had y Iittlc toc
much I;o,,,n r,. ..
~" ~ INV "n'H Ni"d OF woman 'ha'
could ever get real hold on me. It
was you made mo get thr hoys rumuor-
inc and .o+ ,L,, ,,.,,,,,,. ..,-..:.
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AS you say get hoid OF crowd.
It's not hard-with money and drink.
DO iou can DuE human natur" ch"Hp. Every
man has his price they Sav-aud every
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to b,,,. w., ' :. w. ar" NV" Nv"
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tne same way, even II you use different
price lou We got to find out now they
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Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-07-21
BRUNO DUKE, SOlver of Business Problems
HAROLD WHITEHE4D Ath of T Business Career of Peter F"t

an | think she's bubble crost so I tell
hcr You no everything and l tell you
of it.
She is nice gurl and shuddnt
have to work at Soin and so | close
hopin you are we'll as this leves me.
MAMIE CLEFT.
The next day Mamie turned up-but
not by herSclN,
New-York tribune., 1919-05-11
Original Value
Preposferosss Basis

Only little less preposterous IS
the notion that the railroad shall
have, as just appraisal, only the
s5 per acre--since this, as all that
the land was worth for other than
railroad purposes, was all the rail-
road ought to have been charged
Tor it. But the railroad had to paw
for the land in order to have it, was
unable to get 1t at a price that as
slrned that there was no railroad in
prospect-had to pay a price that
assumed that there was going to be
railroad and that the railroad
would have to provide itself with a
right OF way. To have declined in
advance to recognize an Investment
ct more than SIS per acre would 30
Tar have been to decide against hav-
ing any railroad at all-the prin-
c1ple OF protecting the public from
cyercharges for service emerging
somehow IN the corollary that no
service should be provided.
1t Is, then, clear that not the SIS
that the company ought to have paid
but did not pay--rot the 800 that it
might now sell for, If now It were to
sell what it could not get along with
out and what, were It selling It. no
one would think of buying--not the
$500 that the existing railroad would
have to pay if, at the same time that
It is already existing, it had now TO
provide itself a right Of way On
which, and al conditional by which.
70 begin to exist-~-iard that ACTUALLY
ylow It has no need or occasion or
evsn possibility Of buying, it long
ago having bought it~--brt only the
$50 that the railroad aja pay and
had 70 pay II there were going to
he any railroad, is the amount that
should now be credited az cost to the
investors that actually did provide
the railroad. This $50 Is, then, both
tbs upper and tie lower limit, since
New-York tribune., 1919-05-11
War Gaze Us
Il Big Marker

In that field, as in chemical prod
ucts the war made gift of
the Japanese market to the Ameri-
can manufacturers" he said. "Be-
fore the war we got almost all ou,.
ming machinery from England.
were we'll pleased with the Brit
lakes; none Of us had the slight
dea Of changing our outfit, T
doil remember of having received
single catalogue from any of the
American manufacturers of spin
ming machinery showing me the su-
perlorlty Of the American makes
over others. Indeed, if any of the
American manufacturers invested
the price Of a postcard to inform mo
that they are on certain SPOT On
this earth, I do not recall it. Then
came the war; that changed every
thing. The demand for cotton warns
grew. We had to have new ma
chinery. We had to turn to the
United States for it. We did not
take to American machinery very
rapidly We were decidedly slow.
IN tact. Most Of the men in our
llne did not wish to mix their ma
chlnery. They did not like to trv
the American machinery because
they did not know how it would turn
New-York tribune., 1919-05-11
What Justice to
Investors Demands

By the test Of Justice to the In
.vestors, the rule Of original cost
seems to be the more directly to the
purpose. But by the test of the
earnings that must be permitted if
the supply of services is to conform
to the prospective need, the cost Of
replacement rule may appear to
present the stronger case.
Clearly, however, the cost of re-
placement cannot be decisive or even
relevant where replacement is not
contemplated or is not possible. Sup
pose, for illustration, that q railroad
right Of way was worth as farming
land when it was bought, say SIS
per acre; that now the contiguous
lands are selling for farming pur-
poses at 5000, but that it would
cost now to acquire these similar
lands for right of way purposes, say,
$500 per acre. On which basis shall
the railroad company compute in
terest charges as entering into
costs? The United States courts
impose the 5000 basis-neither what
the worth was or what the cost was,
nor even what the cost would now
be, but what the land would sell for
now, with the railroad actually there,
# now the railroad were to abandon
its right Of way and no railroad
were longer to be there-a purely
mechanical and technical, as well as
erroneous, concept Of economic
value. The land is not to be sold:
and IL 80 sold on the basis of no
railroad to serve it would 90 back
to something like the original SIS
level.
Not very dissinilar is the logic
of the $500 view-what the land
would now cost, recognizing that the
railroad is now here, but assuming
at the same time that. though ex-
isttng and functioning, it still lacks
any right of way, and now comes
under the stress and charge of get
ting one.
New-York tribune., 1919-05-11
By William Whitfield Woods
NO DELIVER or not to deliver

NO DELIVER or not to deliver
to charge or not to charge
that is the question which
more than a million retailers carried
home from their stores last night
and good many nights previously.
This question must be answered
speedily by the majority of our
1,385,000 retailers. On the right
answer hangs the difference between
peopled aisles and sealed doors. A
billion dollars Of consumers money
Is involved, despite the fact that
most consumers are complacently un-
aware Of it.
War greatly altered merchandise
ing policies as to charging and de-
livery. Now that reconstruction has
begun, retailers are literally In the
air as to what sthe public will demand
permanently. Some dealers are won
dering whether to enlarge, reduce or
entirely cut off credit and delivery:
others whether to abandon their
cash-and-carry plan. The trade
press is seething with valuable but
contradictory advice.
New-York tribune., 1919-05-11
Gas h and Garry or
Oh arge and Deliver?
What Merchants Think of One of the Cra,.o..
problems the Retailer Has to Meet-Cocd
and Bad Points of the System Are Shown

and other governmental agencies II
appears probable that the American
people spend more than $1,000 o0o :
600 yearly for the privilege of saw
ing PLEASE charge it and send If y
and having it so done.
Marshall Field & Co. said That
delivery, although It is necesssrv
and Is for them good merchand;s.
ing, is in no sense an economy. but
purely an expense. Mr.. Saunders
agreed that it is an expense. and
said that for grocers it is uneco-
nomic. He believes, however, that
war economies have done little to
educate the people away from
sredit and delivery.
"Otherwise," he explained, naive
ly, "they all would be trading with
Piggly Wiggly."
Arthur E. Towne, editor of a"The
National Hardware Bulletin" Of the
National Retail Hardware Associa-
eon, stated:
THE idea that delivery service is
not an expense is just as illogical
as the old fallacy that two can live
as cheaply as one. To a consider
able extent, delivery service is a
matter Of self-defence."
Mr.. Towne says some hardware
dealers are making a minimum de-
livery charge Of ten cents. The
trade has materially reduced deliv
cry, but no dealer Is expected to cut
if off entirely.
Some manufacturers Of nationally
advertised articles, like the General
Chemical Company of New York
City, have taken up the cudgels in
defence of delivery, and some chain
stores, like the Economy Grocery
Stores Company of Boston, have
made brief for the cash-and-carry
plan.
S. W. Roth, of Chicago, publisher
Of "The Retailers Journal" de-
clared that the correct solution of
the credit and delivery problem for
grocers is to charge five cents for
each delivery, irrespective of the
size, and one cent for every dollar
of credit extended. He produced
scores of letters giving the increased
sales and profits figures of grocers
who have adopted his plan.
New-York tribune., 1919-05-11
Proof of
The Pudding

Practically every argument and
every suggestion find concrete ap-
pllcation in the new experiment by
the Duffy-Powers Company. All de-
partments of the store make free
delivery except the self-serve gro
Gerry and the self-serve basement.
The bakery and the delicatessen
make no delivery under any circum-
stances. The grocery and basement
charge 10 cents for each delivery.
All charge accounts were cut off on
April L. There is only one delivery
day, and no change is contem
plated.
Mr.. McCabe, the sales manager.
says:
delivery makes possible larger
orders. During the first few
months after opening our grocery
the average sale was about 70 cents.
Evidently the people have awakened
to the fact that if they are going to
pay for delivery they had just as
we'll use it to advantage, with the
result that the average sale is now
about 81 and it is now not infre-
quent to deliver SIS to $40 worth
of groceries to one customer at a
time"
In the cash, non-delivering base
ment the articles sold range from
toilet goods to cloth and shoes.
When Mr.. McCabe was asked
whether delivery ever is an econ
omy he responded, t'I think NO is
the only answer" The store is re-
duclng prices by reducing service,
and is thriving. It's trade wishes to
save money.
New-York tribune., 1919-05-11
War Gave Japan the Habit
Of Being Americas Customer
Shut of From Other Markets, She Bought Things
Here and Found She Liked Them, So Lead
ing Nipponese Merchant Says
By Adachi Kinnosuke

n N 1917 the port Of Kobe became
4 the greatest port on the Pacific
outranking San Francisco, Hong
Kong, Shanghai, Yokohama, Vladi-
vostok and Seattle in the volume of
foreign trade. Kobe is the port 10
the manufacturing centre Of CEN
trail Japan, Of which the great city
Of Osaka-the Chicago Of the Far
East as she has been repeatedly
called--is the smoky peroration.
Katsutaro Inabata, who is now
in New York, is the vice-president
Of the Chamber Of Commerce Of
Osaka, and he is here as its repre-
sentative. His views therefore hold
interest.
"The great war has simply forced
opportunity upon the United States"
he said yesterday; "that Is to saw
as far as the Japanese market is
concerned. America did not do a
thing to get it. She was not looking
for it. Take our case in Osaka.
New-York tribune., 1919-05-11
When Doctors
Disagree

Out of the welter of arguments.
OF varied conditions and of con
fiicting opinion these conclusions
seem sound:
L. Some trade demands credit and
delivery. With such trade a cash-and
carry plan would be suicidal.
2. Credit and delivery are expenses.
They add to the prices at which goods
must be sold.
D. A charge for delivery means that
customers will order more at one time.
a. Ii charge is made for credit and
delivery prices must be convincingIy
reduced, and specials" should perhaps
be featured at an actual loss.
D. When a charge is made for credit
the number of charge accounts will de-
crease and the number of cash Gus
toners may increase.
6. Certain dealers--many of them are
neighborhood retailers can mora
nearly meet rivals low prices by drop
ping credit and delivery.
z. Others can compete mora eaer.
tiveiy ny stressing credit and delivery
as services which their competitors do
not give.
Before deciding whether to In
crease, diminish, cut off or install
credit and delivery, every merchant
should ascertain definitely the senti-
ment of his patronage and the real
pasis--service or prices--on which
ne IS competing with his rivals.
Copyright. 1912 Woods resau,.
Syndicate.)
New-York tribune., 1919-05-11
Feuered Speculation
In Oil Shares No,u
Fraught With Danger
a USTIN, Texas, May 1O.-An
~ enormous amount of worth

a USTIN, Texas, May 1O.-Ar
~ enormous amount of worth.
less oil stocks have beer
sold throughout the United States
during the last few months. Of
the hundreds Of companies that
have been organized for the osten-
sible purpose Of engaging in the
oil industry in Texas a comparatively
small number have as yet become
dividend payers. There Is little
prospect Of many Of these COM
panies ever being able to pay back
to their stockholders anything in
the way Of dividends.
How many Of the oil companies
that are operating in Texas and
other states to-day are outright
spurious there is no good means Of
knowing. The conservative and ex-
perienced investor has come to
exercise the greatest caution in the
matter of buying oil stocks. Only
the old established corporations that
'Nve producing, storage, pipe line,
ming and marketing facilities
find favor in the eyes Of these men.
They regard the so-called independ-
ent companies as not having yet
arrived" although the time may
be near at hand when some COM
panies OF this kind may develop into
strong organizations with valuable
stocks.
Strong pressure is being brought
to bear upon the legislature, which
is now holding special session, to
enact law that will prevent the
floating of worthless oil companies.
The present "blue-slsy" law is found
to be wholly inadequate in the mat
ter Of protecting the people from
frauds of this character. Millions
OF acres of land in Texas, most of
1t far removed from producing oil
we'll, have been leased for possible
oil rights and many companies
organized and the stock sold on the
strength of the wild excitement that
exists over the oil discoveries at
Bnrkburnctt, Ranger and a few
other localities.
New-York tribune., 1919-05-11
By II. J. Davenport

Professor of Economics IN Cornell
University
w THAT treatment should be
wv accorded by the public tc
the utility companies in
view of:
% The early deficits, (2) the
later overcharges, (a) the replace
ment of inadequate plants, (4) the
scrapping of obsolete equipment, (5)
the rising costs of replacement OF
certain of the equipment, (6) the
high strategic Importance or the
high replacement costs or the
rights of way, street privileges,
terminal facilities, yards and sites?
It is not strange that the prin-
ciple of cost of installation or Of
service, entirely adequate for for
ward-looking purposes, should have
been appealed to as valid retro
actively in the solution of these
problems. But this principle of
cost bears on the present 'tfair
value" only in the sense and for the
purpose Of arriving at that actual
sum Of capital investment the in
terest returns on which are Justly
to be included among the costs of
present service. Shall, then, the
present valuation report (a) the
original cost, the amount Of inves-
tors funds now in the property, or
{b) the present replacement cost
what the plant would row cost had
it now to be reproduced?
New-York tribune., 1919-05-11
Sure to BUY
More Cotton

"The development Of electrical in.
dustries in Japan really has been
nothing short Of phenomenal. All
the end of 1918, according to the Of
ficial report of the Department of
Communications, issued in January
of this year, the total invested capi-
tai in electrical enterprises of the
country stood at over 5,198, 900
yen. That is considerably more
than twice as much as the Japanese
capital invested in mining enter
prlses of the empire, which stood at
24O,O0O,0O0 yen at the end Of last
year. 1t comes within hailing dis
tance Of the amount invested in our
railways, which is 1,100,0O0,OOO yen.
But the most remarkable feature of
it all is not the amount of capital
put into that line of enterprise, but
the rapidity with which the electri-
cal industry has leaped into promi-
nence in Japan. In the single year
Of 1913 64,515,O00 yen of additional
capital was put into this = Of en-
terprise.
"Then there is cotton, of course.
The Japanese demand for American
cotton is destined to increase, for the
following reason: China is the
largest market for the Japanese
cotton yarns and cotton goods. In
China many cotton filatures will be
and indeed are being, established
by Japanese, American and Euro
pean capital. Cheap labor there is
the deciding factor in this matter.
Chinese workers suitable for the
cotton-spinning factories can be
hired for about one-fourth the jap
anese wage scale. These Chinese
factories, as we'll as innumerable
Chinese households, turn out great
quantity of coarse cotton yarns.
The Chinese and Indian cottons are
suitable for this class of yarns, but
they are not good enough for the
production of fine yarns. And that
is precisely the quality of goods in
which Japan will be forced to spe
cialiae from now on more and more.
For finer cotton yarns Ameri-
can cotton is required. Egyptian
cotton is. certainly finer in quality.
but the price is prohibitive-espe-
clally for the goods for Asiatic mar
kets.f Moreover, it is practically i'm
possible to get the Egyptian cotton
IN any large quantity, even if we
could afford to pay the price,"
New-York tribune., 1919-05-11
What Basis of Value
For Public Utilities?
An Economist Discusses the Question of 'Orginal
Cost VS.. ''Replacem ent value'' as Applied to
the Determination of an Adequate Return

neither the sale nor the purchase Of
the right of way is either called for
or possible. There needs be replace
ment, as there can be no abandon
ment. The right of way exists,
does not have to be bought, is in use,
must remain in use, cannot be sold.
Even had the utility company been
rightly speculative enterprise, fac
ing its risks Of loss and therefore
justly insistent on it's chances Of
speculative gain, it could get no gain
through selling it's land; it loses it's
all unless it keeps the land-stops
business-has no rates either high or
low to collect. One might as we'll at
tempt to appraise a life by asking
what the man would charge to kill
himself. The logical movement is
that Of the Frenchman who was glad
that he didn't like spinach because,
he said, If he liked it he would eat it,
and the mere smell Of it made him
sick. Remember that the principle
Is one of indemnity to investors.
There is no need Of Indemnity
against foregoing the rising prices
n that which cannot be sold.
But, by the same token, should not
the railroad have it's rates reduced
bcause Of the depreciation of it's
lands, or by the i'll fortune Of OBJ
solescence, or by the necessity of re-
tracking or Of changing it's grades,
or through the change or the aban-
donment Of terminals, the shifts Of
river beds, the costs Of cut-offs, the
scrapping Of old equipment in the
new interests Of adequate service, or
In response to the rising standards
Of service Of the public? All these
emergencies public ownership must
also meet and must also pay for.
New-York tribune., 1919-05-11
75,o0Q,0o0 pounds, valued at more
than $2,So6,oOo.
Pioneer as
Drug In1porter

10 AH~k|OE COF
"In the importation of American
dyes and drugs, 1 believe I have the
honor Of being the pioneer as fal
as know. I think the japanese
market for American products ir
this line is very bright. Trans
portation facilities have a good deal
to do with it, for distance and the
time of getting the goods in Japan
are important elements in the trade
In both of them America has q de-
cided advantage over her European
competitors.
But the American manufacturers
will have to change their methods
OF marketing the stuff in Japan.
Before the war, there were prac-
tically no American goods of this
type coming to us. During the war
all manner of loose and careless Ways
of selling to almost any party and
by almost any sort Of commission
merchants were followed. And as
long as war continued ali went on
merrilyj we had to have the goods
and there was no European COM
petition. Everything will be djf-
ferent as soon as the European man
ufacturers begin to compete again
with American goods. America.
like her European competitors, will
have to choose it's Japanese repre-
sentatives with the greatest care.
for much depends on the character
and ability Of the Japanese repre-
sentative. To get a market is one
thing: to hold it is quite another.
The war played Lady Bountiful to
the American manufacturer. But
the after-war international free
for-all competition is likely to play a
pretty frigid sort of step-mother to
every foreign manufacturer, but
more especially to those of the
United States who are not used to
the long and weary struggle in
wide-open competitive foreign mar
ket."
What about the prospect of
American machinery in Japan
spinning machinery, for example?"
l asked, mindful of the fact that Mr..
lnabata is the head of the Osaka
Muslin Spinning and Weaving Com
pany, Ltd.