Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-22
IN. Y. tincl
GOSSIP OF
THE STREET

Cancellations" are rapidly becom-
ing almost a nightmare to the average
business man and manufacturer. 1t
applies, according to oil reports, to al
most every line and In many cases has
completely upset the calculations and
plans made for the winter. In mum
Der OF instances, in different parts OF
the country, operations are being greatly
curtailed, and in some few isolated dis
tricts complete shutdown has been de-
cided upon until matters simmer down
to a more normal state.
A prominent local manufacturing
concern which had big dose of order
cancellations to swallow met the issue
and, from the latest re.
ports, are going to get out about even
on the deal. While not making any
wide public advertisement of the sale
Of their product. word, however, was
passed along the line that the goods
which had been unexpectedly dumped
on them would be sold at price equal
to or below the retail schedule of pre- =
war prices. This meant reduction Of
anywhere from 80 to 80 per cent in the
current price being asked by many
retailers for the same goods. Sale rooms
were opened at the factory and num-
Der of the road men were called in to
act as salesmen.
The company handles high grade Of
mems ware, and the news of their re-
failing their product spread like Wild
fire. All purchases were limited to three
to one person, in order to keep out re-
tail dealers. Not only was the sale a
huge success, in that the concern was
able, at least, to get back the cost
price, but also resulted in a wide ad-
vertisement of their product.
There is likelihood Of the movement
being followed up by other manufactur'
ers which will go great way in break
ing down the high prices still com.
manded by the retail trade. ...'
Cities Service Earnings
Earnings of Cities Service Co. con =
| tinued on a very satisfactory basis
through September. Gross earnings
were S2.O74 ,OS5, which is an increase
of S613, 164 over last September. After
deduction Of expenses for the month.
net earnings amounted to S2.Ol2,0iO,
| an increase of $6l0 ,027 over the same
month for 1910. Net earnings apple
| able to dividends on preferred stock,
| after deduction of interest on deben e
lures for September, totaled 81 .S4l, :.
! $50, which compares with Sl,24l ,23S
for September, 1919, an increase OF
| $603 ,64S. After payment OF all eX-
pcnses, interest on debentures and divi-
dends on preferred stock, net to COM
! mon stock and reserves for September:
| 1920, was 81 ,44G ,306, an increase OF
| 1851 .5O1 over the corresponding month
| in 1919. For the twelve months end
ing September 30, 1920, gross earnings
were $23 .S1S 900, as against $20.hl9. =
$40 for the twelve months Of 1919, an
increase of So, 900 $50 over the latter
period. Net earnings, after deduction
Of expenses, were $S$,1d9;o94: s. al 100 which iS
was an increase OF S3 200 .M7 over the
same period for 1919. After payment
of interest on debentures earnings ap-
plicab,e to dividends on preferred stock
were S21 .lST $50, an increase Of
S2,075,735. After providing for ex
penses. interest on debentures and 'iivi.
dends on preferred stock, net TO com
mon stock and reserves was $16,612,100,
an increase of 81 ,537 $40 over the cor