The Birmingham age-herald., 1924-09-21

' , Ing your coal. gs N ! Don't close your 3=... eyes to the danger FB-C"EDkRBESS of carrying meagre stocks or goods. Don't worry if gold starts to leave this country. s>
 Don't sell good automobile or rubber
 Don't. finally, neslect your political duties.
 F. In 1876 a shoemaker rented one room in building at Brockton, Mass, and by means of $S75 of borro ed capital in stalled some machinery and began with five employees Every day he trudged home from Boston with rills of leather under his arms. This leather. he per sonally had to select. He personally had to cut it up to be made into shoes which he personally had designed. He Personally had to lay out the work, al night for each employe and had to supervise It's execution. The shoes made, he personally had to go out and find buyers.
 In 1883, he did a revolutionary thing He began to advertise systematically persistently, extensively. Advertising then, however, was not always taken seriously by the public. Much of il downright fraudulent. But this man had product of which he was proud To show how proud, he decided to stamp his own picture on the sole oi every shoe that left his factory. The first results were Jdiscouraging. He paid out more money than the increase in returns justified. But he adhered tc his well considered course, spending $259,000 and more annually on adver' Using. Bye and bye his became the largest shoe factory in the world under one roof making mems women's and boys shoes. His face became one oi the best known in America. And, oi course, he made millions.
 You all know who this man was namely, William L. Douglas, whose death Is announced, in his eightieth in business and in public services. in. cludingi ithe governorship of Massachu' Sets.
 s!fMr. Douglas once told me that, look. ing back, a youth of sixteen, he found himself stranded on country road iu the dark without penny, without a bed for the night, and without job Had anybody came along and shown him even the smallest kindness then, MT. Douglas later would have been glad to have repaid the kindness a million fold.
 Two morals: Advertise. z Help those who need help.
 Have you noticed the newspaper ad- Yertising no wbeing done by Coca cola Hasn't it struck you as about the most effective you have seen in many dayi These two sentences are strikingt-s
 "Coca Cola has the widest distribution of any product, manufactured by q single company, in the world. Its re- tail sales by 415,000 dealers total more than $100,000,000 year."
 ! Country banks and city banks are again at variance. A little battle may be staged at the great gathering oi the American Bankers association al Chicago October ?.
 Briefly, many country banks want to continue to enjoy the privilege of is- suing their own bank notes and city banks want this stopped.
 An issue of SIS, 900 per cent government bonds, which are being used by national banks to secure ctrcula- tion, have been called for payment next February. And unless Congress acts all the other circulation" bonds, name ly, S599, 900 900 bearing per cent inter- est, will also disappear some years later. Harvey Fisk & Sons. who in the old days placed many of these govern rnent bonds, have been sounding out the attitude of the banks owning these bonds and issuing their own circula- tion. Frederick M. Halsey,' member of the firm, gave the writer this inter- esting statement yesterday:
 "The national banks is practically all the larger centers favor the withdrawal of all circulation privileges, but many smaller town banks insist that the privi- lege be continued. They state, that should the privilege be withdrawn they would withdraw their charters as na- tional banks and become state banks The reasons given generally are that some of them have not yet written off the premiums which they paid on the As of 1925; the profit made on circula- ton; the local advertising feature at- tached to issuing bank notes, giving them certain local prestige as against the state banks and trust companies; and finally, having always on hand a supply of new bills which they feature in their service.
 Science may be on the side of the city banks, but sentiment is on the side of the country banks. It would be a pity to do anything avoidable to drive more banks out of the federal reserve system.
 One Boston dispatch this week quotes William M. Wood, head of the Amer ican Woolen company, as saying:
 "They may have my resignation any time they want, but I am far from done"
 Another report quotes him as say ing;
 r q am not out of the American Wool en company and as far as I am con- Serned, I am not likely to be-"
 The latter has the Wood ring about 1t. When he became a very sick man some time ago he flared up at. sug- gestion that he should become chairman and have a younger man elected presi- dent. A friend quotes him as declar- ing, very vehemently;
 dThis Is my company. intend to run 1t. Nobody is going to put me on the shelf I am going to die with my har- ness on." 7. Wall street may demand the infu-
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