davidaulloa/AmericanStories huggingface dataset:
Evening star., 1923-10-26
HOW A POOR MAN CAN GET AHEAD
True Stories of Wage Farmers and Salared Men and
Women Who Have Found the Road to
Financial Independence.
By Samuel o. Rice, Educational Director,
Investment Bankers Association of America

tThis is the sixth of series of twelve
stories Of wage earners and salaried men and
women who have found the road to financial
independence. The next one will appear in
tomorrow's Starr
Has your church, your lodge, your
club. your labor union or your alma
mater any invested funds? What kind
Of securities make up their invest
ments? Have you life insurance?
Ask your life insurance company
what kind of investment securities
1t holds. None of these. you will find.
are at all likely to be wildcat stocks
or fake oil securities. They may con-
tain oil stocks, but they will be the
stocks of reputable, established oil
companies with a fine earning record.
Most of these investment Will be in
sound bonds and seasoned stocks or
good mortgages. They will have been
selected mostly by reputable In
vestment experts, and Will be sound
and desirable.
II you find 1t puzzling to select the
right kind of Investments, consider
the foregoing as a guide. 1t is prac-
tfcal for most every man and woman.
once poor preacher in a Minnesota
city church followed such a guide.
and now has a substantial fund that
yields enough for all his needs. At
church he announced that the church
owes him nothing for his services so
long as he lives. and that at his
death his investments are to be made
an endowment fund in memory OF his
wife.
Evening star., 1923-10-26

More than twenty years ago. when
this minister was just beginning TO
save a little money from his salary
his wife died. That left, as his only
immediate responsibility, his church
work, to which he devoted more at
tention than this congregation ever
required Although his salary was
not large and although he gave
literally to charity, the minister
found his savings growing. He con-
suited the church officers who IN
vested the church's funds, With their
advice he made similar investments
of his small savings. His average an
nual return from his investments mas
been only 5A per cent. yet this re-
turn, added to the modestly increas, ,
ing principal, has built substantial
fund sufficient now to pay the MIN
ister's salary.
Compound interest is one Of the
greatest inventions in the world. 1t
is sure device for creating a
competence, a fund for a comfortable
old age, or large or small fortunes
1t was the device this Minnesota min :
lister used. He put small savings into
safe investments. The interest the
investment securities yielded was put
back into sound securities. Thousands
of wealthy men have done and are
doing the same thing. There is no
patent on compound interest, any one
can use It, 1t works with the same
efficiency for the poor as for the rich.
Yet compound interest has accumu-
lated more fortunes than have patent
rights, oil wells or steel mills. II you
have difficulty in getting ahead, get
acquainted with the power of COM
pound interest to accumulate money.
Evening star., 1923-10-26
|1,3OOPER CENT PAY. /
INCREASE REPORTED.
Cheney Brothers Review 80
Years in Industry-Hours
Third Shorter.
Special Dlspat tch to The Star.

Special Dispatch to The Star. 49,
NEW YORK, October &c. THAT
wages have undergone a tremendous
change in the eighty-year period be-
tween 1S43 and 1923 is graphically
shown in a survey made by Cheney
Brothers in connection with the re-
cent centennial Of the town of Man.
chester, Conn. in which their silk
mills are located.
ihese figures. while gathered for
q particular industry, reflect general
wage conditions for the period. They
years. average hourly earnings OF
Gneney employees have increased over
i,ooo per cent. average weekly earn
ihgs have increased nearly $50 per
cent, and the length of the weekly
working period has been reduced
from seventy-tv-o hours to. forty
in 1S43.
Working Hour Changes.
In 1843, according to the survey, an
employe worked seventy-two hours
per week, gained on an average .042S
per hour and $3.OS per week In
1873 he works forty eight hours per
per hour and s2s.1s per week.
throughout this eighty-year period
the trend of wages has been upward
ana only two receSsions Of any mag
nituoe have taken place; one reces-
sion occurred after the civil war, be-
tween 1870 and 1880, which amounted
10 approximately 114o and was occa-
stoned by the resumption of specie
payment; the other recession occur
red after the world war. in 1921
amounting to approximately 14%
which was occasioned by the depres-
sion IN business which took place
during 1921 and 1922.
Great Wage Advances.
The upward trend in wages has
peen due principally to the two war
periods already mentioned. The period
of twenty-seven years between lg43
ana 1870, which included the civil
war, showed an advance Of 24Sco in
average hourly earnings, or an aver
age yearly increase OF 91So6 The
thlrty-year period between 1870 and
1900 obtained only 4.7ec increase in
earnings, or a yearly rate of increa se
OF ABOUT 1-6 of 1Eo. The twenty
three-year period between 1900 and
1923. which included the world va
produced an advance of 290eo in earn
ings, or a yearly increase rate of
12.61ec.
Present Wages to Remain.
The three periods into which the
Iast eishty years have been divided
roughly, represent nearly three gen
erations in time. and II the future Of
wages pears any relation TO the con-
ditions which have prevailed during
the past eighty years, then We NAV
expect present wages to be main
tained, but not materially increased
Tor nearly another generation in time.
Evening star., 1923-10-26
F|vE-CENT CIGARS
! PUzzL|NG MAKERS
Cost of Materials and Labor
Prevents Attaining of Pre-
War Standard.
BY J. c. ROYLE.

Special Dispatch TO The Star.
NEW YORK. October 26.-Cigar-
makers still are striving TO turn out
what Thomas Riley Marshall said this
country needed-"a good five-cent
cigar" They admit, however, that the
task is not as easy as in former years.
Millions of ftve-cent cigars are still
being manufactured. bought, smoked
and enjoyed, but they are not the
sgood fiye-cent cigar of before the
war.
Manufacturers declare many of the
present-day products are similar in
quality and price and that they smoke
as well, but they admit they do not
possess all of the characteristics of
cigars Of pre-war years. including
shape, and size. Higher prices of to-
creased costs of labor and higher rev.
enue taxes. they say, have made a
duplicate OF the old-time product i'm
possible.
Demand for Cheap Cigar.
There undoubtedly is demand for
nye-cent cigar Of good quality" 8.
T.. Robertson of the cigar department
of the United Cigar Stores said today.
Large manufacturers, by cutting off
every possible expense, have been able
70 produce almost the equal of the old
time product. The five-cent cigar of
pre-War years was a handmade, long
nller, Sumatra-wrapper shaped cigar of
good size. To meet the demand under
new conditions, manufacturers have
Ead to adopt various expedients. Some
have turned out a short filler cigar
composed of Havana clippings from the
more expensive brands. Others, using
the long filler, have cut down the size
Or changed the shape.
nf ha
cigars are made in the laundry or
perfectly straight shape. the came
size from tip to tip with one end
rounded. Cigarmakers are paid far
higher wages than formerly, but they
90 not now receive so much for max
ing the laundry or .breva' shapes as
for the cigars with a graceful bulge
beneath the band. Still other five-c cent
brands are frankly machine made.
Labor !. in Manila and Porto Rico Is
cheaper, than in the United States, and
many of the five-Cent cigars now are
manufactured in those localities.
Profit Margin Small.
II can speak only for our own com
pany, which markets its cigars direct
to the consumer, but we are selling
our hve-cent cigars on the narrow
est possible margin of profit. We
Teel that We can give customers as
good cigar as they received for Il
nickel in the old days. How those
dealers manage who have n jobber's
profit added to other costs / am un-
able TO say"
There is no doubt that the words
of the former Vice President have had
Il very important effect on the tobacco
trade" said &. A. Harrison, manager
of the General Cigar Company of
Philadelphia. "Unquestionably there
is a demand for low priced cigar
of good quality.
Il am satisfied the five-cent cigar
has come back to stay. Scrap tobacco
will enable the smaller manufacturer
to continue production of short-filler
types and an increased output, slim
ulated by advertising, will make 1t
possible for the large producers to
maintain quality. We are doing busi-
ness on our five-cent cigar, however,
on the smallest margin of profit we
have ever received" .-
Evening star., 1923-10-26
BIG DOMESTIC NEED
FOREIGN TRADE AID

NEW YORK. October 26. - The
basic reason for the future success OF
American foreign trade is the pres
ence in the United States of the larg-
est concentrated market of consum-
ers. with the highest standard Of
living and the largest potential buy
ing power, Julius H. Barnes, president
of the Chamber of Commerce of the
United States, declared yesterday at
a luncheon of the National Foreign
Trade Council.
Not only have we this great. do
mestic market, which exists nowhere
else in the world" he said. but we
have. in addition. three factors which
are bound to produce success in our
foreign trade These are: First, our
inventive genius: second, superior
quality of our merchandise, and, third,
our large scale production, with. its
resultant low costs"
Evening star., 1923-10-26
THE WEATHER

District of Coluinbia-Partly cloudy
tonight and tomorrow; cooler to-
winds.
Maryland-Partly cloudy tonight
and tomorrow; cooler tonight. prob
ably light frost in exposed places in
north portion; moderate TO fresh
northwest and north winds on the
coast.
Virginia-Fair tonight and tomor-
row; cooler tonight in north portion:
fresh northwest and north winds.
West Virginia-Partly cloudy to-
night and tomorrow; cooler tonight
in northeast portion.
Records for Twenty-Four Hours.
Thermometers pm. 55: 8 pm.
81: II midnight. So; 4 am.' So; a.m.'
Barometer-4 PM. 5000: pm.
1905: IL midnight. 5000; am, 1910;
am, 30.1S; noon. 1921.
Highest temperature, 5I.1, occurred
at pm. yesterday.
Lowest temperature, 81. occurred
at 80 am. today.
Temperature same date last year
Highest. 81; lowest, 43.
Condition of the Water.
Temperature and condition OF the
water at s am: Great Falls-Tem-
perature. So; condition, clear.
Tide Tables.
FURNISHED by United States coast
and geodetic survey
Today-Low tide. 3:20 am. and 3:29
pm; high tide, 9:04 am. and e:15
pm.
Tomorrow-Low tide. 4:01 am. and
400 pm; high tide, 9:42 am. and
1854 pm.
The sun and Moon.
Today-Sun rose, 6:2S am; sun
sets, SIG pm.
Tomorrow-Sun rises, 6:29 am;
sun sets, sis pm.
Moon rises, SAB pm; sets 1857 am;
Automobile lamps to be lighted
one half hour after sunset.
Weather I'm Various Cities,
Evening star., 1923-10-26
JAPANESE IMPORTS
SHOW BIG SLUMP
Special Dispatch to The Star.

Special Dispatch to The Star
SEATTLE, October 26.-There have
been a severe recession in the value
of imports through this port as a
result of the Japanese earthquake,
especially in silks, porcelains. bask ct
ware, potteries and lacquer. Septem-
ber's imports fell off s6,559,s97. as
compared with September, 1922. Ad-
vices received from Japan today in
dictate that by February /. 1924, i'm
ports Of silk lamp shades, bronzes.
worries. silk garments and beads will
be approximately noymal. These
goods will be shipped from Kobe.
A large accumulation of goods de-
signed for the American holiday trade
was destroyed In the Yokohama fire,
and Pacific coast importing houses
will be unable to supply interior and
eastern dealers with more than one
third the ordinary amount of such
merchandise.
Evening star., 1923-10-26
by WILLIAM HEFEERNAN.
Received by p

NEW YORK, October 26.--Realizing
sales had their effect in the curb deal
ings today upon recent leaders in the
industrial section, such as Park &
Tilford, Hartman Corporation new
and Chicago Nipple. --
For the first time estimates were
given out regarding operations of
Park & Tilford under the new man
agement. Between August / and jan
uary l it was reckoned that earnings
would amount to 100000. This would
be at the rate of 81 month or S12 q
year. These calculations showed that
the dividend talk which was re-
sponsible for the rise from around 25
to around 35 was we'll founded 80 far
as current operations were concerned
1t Is doubtful, however, that divi-
dends will be begun until the remain
ing 100000 bank loans are paid off.
Hartman stock was off nearly two
points from its high, having appar-
Evening star., 1923-10-26
FIRM REPORTS DEFICIT.

NEW YORK, October 26.-The
ported a deficit of $5,717.609 for its
fiscal year ended August 81. 1929. ac-
cording to the corporations annual
report. Referring to the company's
policy of curtailing the cotton seed
oil end, President George K. Morrow
said the corporation had decided to
concentrate on soap and washing
powder products. This policy was
adopted, he said, because. of the un-
satisfactory conditions which had pre-
vailed in the cotton seed industry
since the war.
Evening star., 1923-10-26
NEW YORK CURB MARKET
Received BY Private Wire Direct to The Star ONCE

entity discounted the favorable earn
ings report. For the six months
ended June 80 net income was equal
to nearly $40 share on the old stock
which would mean nearly $5 a share
on the new.
The rise in Chicago Nipple from,
around 81 to AZ likewise seemed TO
have exhausted the good effect OF
the publicity given to the fact that
the company is earning its 50 divt-
Jend nearly three times over.
Oil shares moved with a great deal
of uncertainty. They were higher
early and lower in the afternoon. In
the fluctuations they were merely fol-
lowing the general price movement.
Little interest was taken in the trad
ing in Standard OIL Of Indiana, Stand
ard of New York at 40& was off over
two points from its recent high.
Humble Oil sold above 81 for the first
time, where it was up nearly five
points within a week. but 1t, too, came
down In the later trading.
There was a slightly better demand
for the radio stocks and Hudson Com
,pany preferred made a new high for
the present movement at Is.
Evening star., 1923-10-26
SHORTAGE In RENTS
AT $50 PER MONTH
Workingmen's Houses Cost Too
Much in Cleveland. Build
er Declares.
Special Dispatch to The Star.

Special Dispatch to The Star.
CLEVELAND. October GA short
age of houses and apartments to rent
up to $50 month, n slightly smaller
shortage of places renting between SEQ
and 500 and an oversupply of higher
priced accommodations are in prospect
for this city this winter. The residences
and apartment houses built this year
cost more money and accommodated
more persons than in any year since
1916, and II this rate continues, the
shortage could be wiped out by 1925.
Experts assert, however. that unless
building costs decline it is doubtful II
there ever will be enough quarters rent
ing at $50 month and less. The ap-
praiser of a large mortgage company
declared today 1t was impossible to
build two-family house for less than
$4,000. and that with the price Of the
lot added. such houses could not be
rented at $50 a month for each family.
A prominent builder stated a good
tive-room single house could not be
erected for less than $1,000. I'VE have
quit trying to build workingmens
houses" he added. It's hopeless"
Evening star., 1923-10-26
TWO RULINGS BY |. c. C.
Kansas City Terminal Allowed t.
Issue $40. 600. 900 in Bonds.

The Kansas City Terminal Com
pany today was authorized by the
Interstate Commerce Commission to
issue and sell at not less than 971s
$10,000,000 in three-year 51a per cent
gold notes. The notes, which will be
Secured by deposit of $13.7s3,000 in
pay = off an % Outstanding issue of of
$9,S50,000 in like notes, which fall
due November 10.
The Mississippi Terminal
Company as principal and the Texas
and Pacific and the Missouri Pacific
railroad as guarantors were author
ICED to enter into an agreement for
a one-year extension of $3,653,000 in
notes. which fall due November /.
Evening star., 1923-10-26
GREAT LAKES GRAIN
WAR FINALLY ENDS
By the 4 Associated Press.

BY the Associated Press.
CLEVELAND, Ohio, October &c
An agreement under which American
vessels will carry grain from the
Canadian head of the lakes was
reached here at n conference between
United States lake steamship man
ayers and Chairman Leslie Boyd and
Commissioner n. Snow of the Cana
dian grain hoard.
The agreement. provides that the
filing of charters or contracts for
space by the shippers before loading
will be sufficient, and it will not be
necessary for the vessel owners or
managers: TO file tariffs.
The agreement. according TO local
Vesseln1en. brings to an end a contro-
Versy which has existed several
weeks since the Canadian grain rates
aot became effective.
Evening star., 1923-10-26
FOREIGN.
LEAF TOBACCO MARKET.

BALTIMORE, October 26.-with
slightly larger Maryland receipts, T93
hogsheads, and sales of 1,4f5 hogs
heads. the market continues very
active, with prices at outside quota
tons.
Maryland prices per 100 pounds
Inferior and frosted, firm leaf. 3.O0a
$50: sound common and greenish.
6.Q0aS.00; good common, S.60a23. 90 !:
medium, 23.50a30.00: good TO fine red,
3o.00a5o.OO; fancy. 5i.0oa54O0; seconds.
common to medium. 5.00a12.00; do,
good to fine, 13.00a35.00; bay tobacco,
fire-cured, 15.00a55. 90; upper country,
air-cured, 5.00a40.00; ground leaves
(new), nominal.
Evening star., 1923-10-26
WOOL DEMAND FAIR.
Market Has Gained Headway Dur
ing Past Week.

BOSTON, October 26.-The CONNER
cial Bulletin will say tomorrow:
1.-The demand for wool has con-
tinued of fair proportions during the
past week and sufficient headway has
been gained to keep the market
steady at last quotations. The goods
market is still moving along in a
somewhat. uncertain manner, but re-
Gently a few fair sized sales of
worsted yarns are reported. Little
new is reported from the west.
London opened rather stronger
than expected and has maintained its
opening pace. The sales In the pri-
mary markets indicate no easing In
values, England being strong for the
cross-bred offerings and the CONT
nent keen for merinos. Exports have
been fairly heavy this week"
Evening star., 1923-10-26
GRAPE PRICES ADVANCE,
New York Apple Market Still
Very Quiet.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK. October 26.-Basket
concord grapes from the Hudson
river valley reached the high level of
tho season today when some sales
were made as high as s1.25 per twelve
quart basket
The market for barreled apples
continued to show no important
changes in either tho demand or
prices. partly because the bulk OF
the offerings were of ordinary quality.
Commission merchants experienced
great difficulty in .disposing of fruit
OF this kind, even at extremely low
figures. Miscellaneous varities of A
grade 2a inch sold from $3.50 to 50
per barrel
Evening star., 1923-10-26
IS DEFENDED
IN PIGGLY STOCK DEAL S
BY the Associated Press.

MEMPHIS, Tenn. October 90
Clarence Saunders had unlimited au-
thority to act as the agent of the
Piggly Wiggly Corpora tion in various
deals involving class "a" stock of the
concern. two former officers of the
corporation testified yesterday at the
hearing of Saunders receivership
suit
{. C. Walker, former secretary
treasurer OF the corporation, said he
was aware of Saunders operations in
the stock market last year and issued
the corporations check for stock pur-
chased by Saunders.
James l.. McRee. former counsel for
the corporation and q member of the
board OF directors. testified that Saun-
ders had acted with the full knowl-
edge and consent of the board and
that the directors approved his actIy-
ity In tho stock transactions.
Evening star., 1923-10-26
Washington Stock Exchange.
QAT,ES

BALES.
Capital Traction ISL 900 at ~, $1,000
at "a.
Chesapeake Potomac Tel. 5s-sI 900 at
SO, SO. 900 at Sc
Potomac Electric cons. 5s-s1 600 at s7L.
Washington RYy. & Elec. pfd.-l0 at II.
Washington Gas Light at 4Sas, 10 at As,
10 at 48. 10 at 4S 10 at 4S1s.
AFTER CALL.
Capital Traction Coo ct $685..
Washington RHy. s. Elec. pfd.--l0 at 11I
Potomac Elec. cons. 5s-$i 900 at eTis,
1,o0o at 97ls. $1,000 at s7h, $1,000 at 97Is.
Potomac Elec. deb. 8s-so, 500 at e9st.
Washington Gas Is '33-$10O at 100k,
81 900 at 100M.
Money-Can loans. 3 and per cent.
Evening star., 1923-10-26
NEW YORK DAIRY PRICES.

NEW YORK, October 26.-Butter--
Firm; receipts. 1882 tubs; creamery
higher than extras, 49a49ls; creamery
extras (92 score), 48h; do, firsts (s8
to 81 score), 44a4S.
Eggs-Ffrm; receipts, 1896 cases;
fresh gathered extra flrsts. 45a50; do,
nrsts, 57a44; do, seconds and poorer,
.28a36; nearby hennery browns. extras.
66a5s; refrigerator frsts. 30a31N.
{ Cheese-Unsettled; receipts, 126,003
pounds; state whole milk, flats, fresh,
fancy to fancy specials, 28a27; state,
whole milk, twins, fresh fancy, 26a
26h.
Evening star., 1923-10-26
DISTRESS COTTON SOLD.
Southern Mills Operating at Ca
pacity at Profit.
Special Dispatch to The Sta.

ATLANTA, October 26.--All dis
tress" cotton in this section has been
sold. The portion of the crop un-
marketed is largely in the hands Of
cooperative associations or ware
housemen who are able to hold 1t in
definitely. Textile men do not attempt
to explain the anomoly of southern
mills running at capacity with un-
filled orders growing in volume while
New England mills are curtailing be-
cause of inability to sell. Southern
mills are getting no higher prices yet,
the optimism of mill owners is appar-
ent. TheySare operating at a profit.
Evening star., 1923-10-26
CONTROL PLAN APPROVED.

. NEW YORK, October 26.-Directors
OF the General Electric Company to-
day approved a proposal 10 purchase
control Of the Canadian General Elec-
trio Company. Directors Of the Cana
dian company already had approved
the plan. Announcement of the terms
OF purchase, 1t was said. would be
made by the Canadian company.
Evening star., 1923-10-26
Money! to Loan

Secured By nrst deed of trust ON real estats.
Prevailing interest and commission.
Joseph I. Weller zS% s1S, wash oh l. : Z TrSss w
Evening star., 1923-10-26
BUSINESS TOPICS,
Chicago Faces Busy Late Fall
Trade-Detroit Booming.
Special Dispatch to The Star.

Special Dispatch TO The Star
CHICAGO. October 2s-AdvertisinS
in local newspapers gives strong sup
port to statements that full employ
ment viii obtain here throughout the
ran. one paper Thursday carried two
and a quarter columns of situations
wanted ads and sixteen columns ad-
yertisinE for workers
Evening star., 1923-10-26

NEW YORK, October 26.-Foliowing
is an official list OF bonds and stocks
traded In on the New York Curb Mar
ket today:
Evening star., 1923-10-26

ST. PAUL. October 26.-Arranpe-
ments are being made to have all the
principal bus lines operating in Twin
Cities territory routed into ST. Paul.
This VIII put this city in direct touch
with $50 communities.
Evening star., 1923-10-26
MISCELLANEOUS,
STOCKS
PUBLIC UTILITY
PURLIO Utility,

American Tel. & Telga......... t2s
Capital Traction. n................ ss
Washington ............ s4e
Norfolk & Wash. Steamboat. 215
wash, Ruy. & Elec. COM. Us
wash, Rwy. s. Elec. pfd........ n
Evening star., 1923-10-26
DETROIT, OC

DETROIT, October 26.-Reports of
the Employers Association this week
indicate a total number at work NJ
214,27S, as compared with 175.2s5 for
the corresponding week last year.