davidaulloa/AmericanStories huggingface dataset:
Evening star., 1925-04-28
EVERYMAN'S
INVESTMENTS
BY GEORGE T. HUGHES.
Typical Utility Stock.

AS an illustration of investment
stocks we may take American Tele-
phone & Telegraph and subject it to
the three tests discussed in the pre-
ceding articles in this series.
First consider the matter OF price,
and ii is at once noted that the range
is comparatively small. In other
words, price stability is more char
acteristic of this stock than of most
others with an active market. This
is a very important item from the
standpoint of the investor who con-
ceivably might be called upon 10
realize upon his investment on short
notice. AS this is written the range
for the year between the high and the
low has been only six points, and part
of this was due to the two and one
quarter point deduction which comes
off the price automatically the day
the stock sells ex the quarterly diVi-
dend.
American Telephone & Telegraph
has the largest number of stockhold-
ers of any corporation in the world.
and it's shares are the most widely
distributed 1t follows that specu-
lative interest in this stock Is at a
minimum-also an advantage Ito the
investor. AS far as price Is con-
cerned, the telephone stock may be
bought at any time.
Now take the matter of return on
the money invested. Paying per
cent and selling at 130 the return Is
60 per cent, and at 1876 the return is
6.7 per cent. Even at $50 the yield
would still be per cent. Under pre-
vailing conditions in the money mar
ket and in comparison with the
Yields on investment bonds the re-
turn on American Telephone & Tele-
graph stock at the current price is
liberal.
OF course. we have to examine in
this connection the stability of the
present dividend rate. Earnings per
share on the capital stock then out
standing were S11.35 in 1928 and
$11.31 in 1924. This may not seem a
wide margin over the SO dividend. but
when the very large amount of stock
outstanding is taken into account the
margin of safety is actually reason
ably adequate. AS a rule, a public
utility does not require the same
margin between earnings and divi-
dends as does an industrial corpora
ton to reassure the investor. Finally
the management of its public rela-
tions by the American Telephone 81
Telegraph Company has been so in
telligent as enormously to strengthen
the investment position of its stock.
Copyright 1925.)
Evening star., 1925-04-28
chow TOINVEST
YOUR MONEY"
By Bdyud Dominick,
President the Better Business Bureau
Of New York City.
Invention Delusions.

The general public too often be-
lieves that large profits are to be
gained through patented processes or
devices. Inventions are a fascinat-
ing and usually an appealing means
for separating inexperienced investors
from their savings.
Such patents are frequently the
basis for the organization of com.
panies with large capitalization out of
which the inventor may hope to make
an enormous fortune. He may hon
estly think his patent will bring real
profits TO the people who invest in the
shares of the company formed to ex-
plot his device. Quite often the An
ventor is misled by enthusiasm for
the creature of his own brain, and he
may often be the victim and not the
beneficiary of the activities of the
blue sky promoters to whom he as
signs his patents.
Even when practical from a mar
keting and manufacturing standpoint
patents are usually only moderately
valuable The small investor espe-
cially cannot afford to take an in
vention chance" with his funds.
Evening star., 1925-04-28
NEW YORK CURB MARKET
Received by Private Wire Direct to The Star Office

gained a half point of active trading.
Large blocks of South American oils
was taken around the Mondays final.
and subsequently prices worked
higher.
The feature in the mining group was
the further advance of 3 points in En-
gineers' Gold, when it sold at 49. New
Jersey Zinc lost part of its 5-point ad-
vance of Monday on realizing sales.
Heavy selling of United States Rubber
6l2 per cent serial bonds accompanied
the report that the syndicate had been
dissolved. Professional operators were
successful in causing another 2-point
drop in Victor Talking Machine.
Evening star., 1925-04-28
SOUTH MAKES GREAT
GAINS IN INDUSTRY
Manufacturing Has 0utstripped
Growing of Cotton in Finan-
cial Importance.
special DISPATCH to The Star.


NEW YORK, April 2S.-The South
in 90 years has learned TO compete
with the modern world Of industry on
its own ground, says the National
Bank OF Commerce in New York in a
survey of Southern progress since
1860, published in the May issue OF
Commerce Monthly. Continuing the
bank says that in this time an entire
social system has been made over and
from an agricultural empire theSe has
evolved a region of balanced develop
ment. Cotton now serves both fac
tory and farm.
The industrial system has been ere
ated practically anew, differing in
method, aim and scope from ante bel
lum industry. Manufacturing has
overtaken and far outstripped cotton
growing in financial importance. The
cotton crop of 1860 almost equaled
the value of all manufactured goods
at that time. Today the tables are
turned. The total value of products
of Southern industries in 1921 was al
most six times the value of the aver
age cotton crop from 1919 to 1923.
Evening star., 1925-04-28
STOCK DIVIDEND PENDING.

NEW YORK, April %. - Distribu-
ton of 33 1-3 per cent stock dividend
to holders of ordinary shares of the
Anglo.American Oil Company, British
operating branch of the Standard Oil,
will be considered at meetings in
London called for May 20 and June 5.
American holders of share warrants
will be privileged to vote by deposit
ing their warrants at least IA days
before the meeting.
Evening star., 1925-04-28
DIVIDENDS.
A Word 10 Spectators.

IF you must speculate, select a rep
utable broker who holds mem bership
in a recognized stock exchange. Ex-
change requirements, in themselves
are some protection, as it's members
must comply with business ethics as
proyided by rules and regulations.
+ a member violates these rules, he
hazards his membership, which 10
usually his greatest asset.
Evening star., 1925-04-28
BUTTER LOWER TODAY.

CHICAGO. April 2S.-Butter-Low-
er; creamery extras, A; standards, A.;
extra firsts, 42a43; firsts, 4012a41; Sec
onds, 34a3812.
Eggs-I,ower; receipts, 41,763 cases;
firsts, 27; ordinary firsts, 26; storage
pack, extras, 291a; firsts, %.
Evening star., 1925-04-28
BY WILLIAM F. HEFFERNAN.

NEW 1URk, April 28.-The buying
that came into the curb market today
represented largely covering orders by
tnose who were of the opinion that
the United States Steel report issued
after the close of business was to be
satisfactory. The important changes
We're all on the side of advance.
Following publication of the Stand
ara Oil of California's report for 1924
the oils were taken in hand and bid
up sharply in some instances. This
was true of Humble Oil, which sold at
4S =, as against the previous close of
40 rs, and of Anglo-American, which
Evening star., 1925-04-28
DODGE TRANSFER READY.

NEW YORK, April 28.-Dillon, Read
& Co., syndicate managers for Dodge
Bros, Inc, have been notified that the
transfer of the Dodge property to the
new company probably would be COM
pleted this week. Separate temporary
stock certificates for the preference
and common shares will be available
for delivery within 80 days thereafter.
Evening star., 1925-04-28
Sales INDEPENDENT OIL STOCKS.
Washington Stock Exchange

SALES.
Washington Rwy. & Elec. &. & r. 6s--
So, 900 at 1011a.
Lanston Monotype-1o at 81.
National Mtge. & Invest: pfc-oO at
e14. 80 at 9i4 100 at 90. so at 9ss.
AFTER CALL.
Capital Traction Cos at 90, 10 at 90.
10 at Q3 at 80, at 93 10 at %.
Capital Traction 5s-$1 900 at e7sy.
Washington Gas IS '33-Sl0o at 102is.
Washington Gas IS '33-S1 900 at 1o3 4 =.
Wash Rwy. & Elec. com.-6 at 100 q, 10
109Ia.
$50, 3 at $50.
Money-Call loans and per cent.
Bid and Asked Prices.
Evening star., 1925-04-28
TODAY's COPPER PRICES.

NEW YORK, April 2s.-Copper-
Firm: eiectrolytic, spot and futures,
13 3.5.
Tin-Firm: spot and nearby, 55.25;
futures, 54.62.
Iron-Steady; prices unchanged.
Lead-Steady; spot, 7.75.
Zinc-Easy; East st. Louis, spot and
futures, 690a7.00.
Antimony-Spot, 11.25a11.50.
Evening star., 1925-04-28
COTTON CLOTH LOWER.

NEW YORK, April % (SpeciaD.-
Cotton goods markets showed slight
ly easier tone today on light trading.
Print cloths were quoted at ga cents
for 64x6os and 11as for 6Sx72s, the
latter an eighth of a cent reduction.
Raw silks were quiet and unchanged.
Evening star., 1925-04-28
RETURNS ON FARMS
BIT LARGER IN 1924
Incomes About S400 Ahead of
Three.Year Average, Re-
port States.
special Dispatch to The Star.

CHICAGO. April 28.-Farmers in
corn belt States will have a slightly
increased income this year, compared
with last, Northwest dairying States
a little increase, cotton States about
the same return, Western ranges a
slight increase and the Pacific coast
a big increase, according to o. Z.
Bradfure, president of the American
Farm Bureau Federation.
Wheat farmers income, he esti-
mates, will be about s2,S25 a farm,
compared with a three-year average
of S2,420.
Pacific coast farmers, he thinks,
will earn $3,o55 a farm.
Evening star., 1925-04-28
CALL MONEY LOWER.

NEW YORK, April 2S.-Call money,
easier; high, 4; low, az ruling rate, 4;
closing bid, S1s; offered at 80; last
loan, 31a; call loans against accept
ances, az; time loans, steady: mixed
collateral. so to 80 days, 3$
A to 6 months, 4; prime CONNER
cial, paper, 3Aa4.
Evening star., 1925-04-28
PIERCE-ARROw's NET UP.

NEW YORK, April 2s.-Pierce-Ar.
row Motor Co. had a more profitable
first quarter this year than in 1924,
net income of s2o0,416. comparing with
$7S,729 a year ago. This was equal
to $1.68 a share on the preferred after
deducting the 81 dividend require
ments on the prior preference stock.
Evening star., 1925-04-28
GAIN OF $4,000, 900
IN OIL COMPANY'S NET
By the Associated Press.

NEW YORK, April 28.-Net earn
ings of the Standard Oil Company of
California for 1924 reached s44. .354,-
1913. gain of more than Sc 900 900
over 1928. Net profits of $26 6,6O1,51
was equal to $2.S2 share on the
capital stock, against $24 .439, or
$2.62 the year before. Profit and loss
surplus increased nearly $4,000, 900
to S73366 667
Evening star., 1925-04-28
FLOUR LOWER TODAY.

MINNEAPOLIS. April 2S.-Flour, 20
to 80 lower at S20aS25 barrel. Ship
ments, 30,S30 barrels. Bran, 2400a
24.50. Wheat, No. !, Northern, 1.43A
al .45B; May, 1.41 q; July, 1.43. Corn,
No. 3, yellow, 1.00a1.02. Oats, No. 8,
white, 375sa3S5s. Flax, No. l, 2.6Sa2.70.
Evening star., 1925-04-28
BOSTON STOCK MARKET.

BOSTON, April 2S.-Following is a
list of. today's highest, lowest and
closing prices for the most active
stocks dealt in here:
Evening star., 1925-04-28

NEW YORK. April 28.-Following
is an official list of bonds and stocks
traded in on the New York Curb
Market today:
Evening star., 1925-04-28
SILK BRIGHT SPOT
IN TEXT|LEF|ELD
Goods Moving in Heavy
Volume, While Mills Are
Working Overtime.
BY j. C. ROYLE.
Special Dispa tch to The Star.


BOSTON, April 2s.-The textile
manufacturers OF America no longer
are creeping. like snails, unwillingly
to school They are making every
effort to achieve economies both
In manufacture and distribution of
their products and so widen their mar
gins of profit. They have found that
merely raising the price to the con-
sumer has not produced that result.
This is true OF the Southern mills as
we'll as those of New England.
The mill executives are picking up
every trick and bit of knowledge
available to aid them to this end. No
point is too small to be overlooked.
from the method of breaking open
bales Of cotton, wool and silk to the
shipping of the finished product.
Through some new methods Of per-
forming the minor operations, one
New England plant is said to have
saved enough in 'the last half year to
cover 40 per cent of its dividend re-
Quirements
Evening star., 1925-04-28
Styles Hurt Consumption.

Style trends have been such as to
reduce cotton consumption. Where
as 20 years ago 1t took 10 yards of
cotton cloth for a dress, the average
now is 3lz yards. In woolens, fancy
goods have been more popular than
staple Weaves. and this hastened to.
ward uncertainty of production.
Style has operated otherwise in
silks, since the call for silk and rayon
fabrics has been strong and contin-
uous and shows no signs of abate-
ment.
Evening star., 1925-04-28
Special Textile Courses.

The textile manufacturers group of
Philadelphia has arranged for a 26-
week course in textile manufacture to
be included in the curriculum of the
evening high school in that city. 1t
is specially designed TO attract work
ers already engaged in the textile in
dustry and enable them not only to
improve their own condition. but bet
ter to understand their work and
make suggestions of value. The course
includes instruction in designing
dyeing. weaving and all branches Of
the business, even to retail selling of
the finished product
Evening star., 1925-04-28
TREASURY CERTIFICATES.

touotatious furnished by Redmond & CO..
Evening star., 1925-04-28
Money to Loan

Secured by first deed Of trust on real estate
Prevailing interest and commission
Ioeanh WoTIoo. 42O Wash. L. e. Trust
~0SA A' w Bldg 9th e. r NV.
Evening star., 1925-04-28
Conditions in Industry.

Conditions in the textile industry
are such as to lend strong encourage
ment to the trend outlined above. Raw
material prices give small indication
of weakening. Cotton prices still are
high from the manufacturers point
OF view. 1t Is too early as yet to esti-
mate the size of the 1925 crop, but it
Is being generally recognized that over
the long term price much below
25 cents a pound will suffice to curtail
production until that level again is
reached
Wool prices still are high. Early
this year they rose TO the highest
level since 1920. They have dropped
materially since that time. the reces-
sion in some grades being almost Is
per cent. But many manufacturers
contracted for their wool at the high
levels, and even if there should be a
further fall in prices for the raw
staple 1t would scarcely be reflected
in goods costs until the Spring fab
rics of 1925 are put on the market.
Silk Prices Are Steady.
SILK prices have been fairly stable
for some months. The position of
the raw material technically is
strong. but indica tions are that
Japan will have another year of
heavy production. The prospect is
for fairly steady prices for some time
TO come. This has enabled manufac-
turers to price goods for Fall most
attra ctively, and the response has
been excellent. The silk goods in
dustry is the bright spot of the tex
tile field. Finished goods are NOV
ing in heavy volume. Some mills are
working overtime and demand for
Fall lines is strong.
Evening star., 1925-01-07
EIGHT GRID BATTLES
BOOKED BY HOPKINS

BALTIMORE, January THE COM
plete foot ball schedule OF the Johns
Hopkins University team for 1928 has
been announced by Athletic Director
Ray Van Orman.
Eight games will be played by the
local team, the schedule being a
stronger one than last years, even
though the number of opponents re-
mains the same.
Newcomers on the list are colum-
bia, Haverford and Richmond. They
will supplant Mount st. Marys.
George Washington and Loyola.
The major contests. four In num-
Der, are with Columbia, Pittsburgh,
st. Johns and Maryland. The two
first mentioned will be played away
from home, but the games with the
traditional rivals are scheduled for
this city. The contest with St. Johns
will not be played in the stadium,
and II sufficient seats can be provided
at Homewood the Maryland game also
will be played on the Hopkins field.
The seasons opening with Column
bia makes next falls grid card re-
semble those OF 1922 and 1928, when
Princeton was the team which Hop
kins first tackled.
a veteran team will respond to the
practice call next fall, for only two
members OF this years varsity were
graduated. These two-Doug Turn
bull and Tom Magill-win be severe
ly missed. however. as they comprised
the backbone of last years eleven.
Walker. Taylor, veteran quarterback,
was selected to captain the 1925
eleven.
Hopkins had q successful season
last year. losing only one game-that
TO Pittsburgh. Two others were tied,
the contests with Maryland and
George Washington having resulted
in deadlocks.
The schedule follows
October 3-Coiumbia at New York,
October 1e-Haverford
October 17-RIchmond.
October 2{-Drexel
October 81 - Pittsburgh at Pitts
burgh.
November Randolph Macon
November 14.-St. Johns
November 2s-Maryland
Evening star., 1925-01-07

running water lie with their noses
upstream. They do this because
their food consists largely of things
that float down on the surface of the
water. They like to get near a
little eddy where the floating flies
and bugs whirl around for a
minute. or where several gather to-
gether to make a real mouthful
Thus the angler can with i'm
punity walk upstream in the creek,
casting his flies ahead of him and
letting them float back a few feet
on the current. The angler with
part of his body submerged is not
highly visible-at least not SO visible
, as he is when he stands towering
on the bank. The trout are facing
away from him, and he can get
fairly close to them.
Why it is that the trout do not
take alarm from the crunching OF
the stones under the anglers boots
Is matter not easily understood.
To the human ear such sounds
under water are pronounced. But
when you come to think about 1t,
deer, moose and other harmless
animals have for centuries waded
the streams without hurting the
fish, and this may account for the
apathy OF the trout, provided they
can hear the sounds
Evening star., 1925-01-07
NY. U. CONSIDERING
FIVE GRID MENTORS

NEW YORK. January Six foot
ball coaches will be considered for the
post at New York University. vacated
by Tom Thorp, when the board of
athletic managers meets this after
noon.
The list includes John F. t"Chick'')
Meehan,s who recently resigned as
mentor at Syracuse University; Harry
Stuhldreher. the ali-American Notre
Dame quarterback: Bob Folwell. for
nleriy of Pennsylvania and the Navy;
Eddie Butler, Thorps assistant for
two years; Fred Dawson, who re-
Gently became athletic director at
Nebraslsa, and Sol Metzger Of Penn
and Washington and Jefferson fame.
In the event that no decision IS
reached today the appointment will
be delayed for week or SO.
Evening star., 1925-01-07

For a month thereafter ] never
once played the game. Meantime 1
had come back to America and was
at my home course Of Quaker Ridge
once more. My hand was still stin
and in a bandage when time rolled
around for the Metropolitan open at
the Engineers course.
You can draw your own conclu-
sions from what followed. Just a
month to a day after my hand had
been put out of commission and on
Monday preceding the opening Of
the Metropolitan, which was set for
wednesday, i decided to try a prac-
tice rounds With the injured mem
Der still bandaged / went around
Quaker Ridge in 10, the par for the
course
This would tend to Indicate, would
1t not, that there is such thing as
practicing too much for big tourna-
ment--that sometimes fellow would
be better off if he didn't take things
too seriously?
Well, If my round at Quaker Ridge
surprised me, my game in the Metro
po1itan, which i now decided to en-
ter. gave me even more Of shock.
The Engineers course Is extremely
difficult. But at the eud of the first
day I was leading the field. A 73 in
the morning and a II in the afternoon
had given me 144, one stroke better
than While Macfarlane.
A "a on the third round allowed
me to maintain a tie for the lead,
but on the last round I slipped a bit,
taking II, and Mike Brady, coming
through with a brilliant II, stepped
out in front and copped the title
with total Of 292 strokes.
finished third and well in the
money with a 2s5. This circum stance,
so surprising In view of my lack of
preparation, leads me to two conoiu-
sions: First, that too much training
Is not advisable; second, that condi-
tioning yourself for a big tournament
is extremely essential. In my month
of enforced idleness l probably had
not had enough regular exercise and
SO slipped little on the home stretch.
Evening star., 1925-01-07

The little fish seem to be far away
from home-thls little ribbon OF water
wandering through the woods seems.
like q goldfish globe, TO have lured
ths nsh far from decent sized body
OF water.
This makes IL necessary for the
angler to unfailingly practice the
most Careful movements. One OF the
first mistakes the novice makes is to
fish from the banks OF the stream.
This at f1rst seems perfectly natural,
but an analysis shows the futility of
1t. When you approach the stream,
you are in sharp relief against the
sky-snd the trout always has half
an eye on that bank, When you loom
up like a giant on top Of a mountain,
the trout scurry for cover-run under
oyerhanstng banks or dive into the
ever-present water cress or other ma
rine vegetation. And they won't
come out for the best fly in your KIT
The way to do it, then. is to wade
the stream--the one way of fishing
which to the beginner seems like the
least practical. When you wade right
into the trouts' home, It does appear
a uinoh that they would then, If ever,
make for cover.
But this Is not the case. Every
body knows that fsh which live in
Evening star., 1925-01-07
NURMI TO COMPETE
IN BALTIMORE MEET

BALTIMORE. January 7.-Charles
L. Ornstein, who has been represent
ing Johns Hopkins University and
the 5th Regiment in New York in
a lons-distance telephone conyersa-
ton, early this morning declared that
he had signed Paavo Elirmi. Finn
Olympic distance runner champion,
and other famous athletes TO ap-
pear at the Hopkins-5th Regiment
games here February 20.
Besides Nurrai. who last night
broke three world records at the
Finnish American games in Madison
Square Garden. New York, Joie Ray
and Harold Osborne, distance star
and Olympic high jump champion,
OF the Illinois Athletic Club: Willie
Plant American walker of wide re-
putation, and Freigero. italian
walker. who also won Olympic
laurels In the 10,000-meter contest at
Paris last year, will be here.
Evening star., 1925-01-07

America is wonderful" he said.
"Its people have treated me hand
somely, and 1 appreciate the tre-
mendous ovation accorded my per-
formance. 1t did not seem that l
was in strange land, although the
board track and indoor breathing
were new to me. I think, however,
II one gets accustomed to indoor
running he would like il as well as
work on cinder track. I felt just
as well when I finished as did
when I started in the first race.
"T expect to remain in the United
States until April or May. and will
participate in several indoor meets.''
Sets Records AwhsrI.
Nurmi's presence set American and
world track records in a whirl. The
Finn broke two records in the mile
run, finishing in 4:13 as, e full
second ahead of Rays former time.
Ray also beat his own record, but
his effort was not enough, for Nurmi
was three yards ahead. The Finn in
the same race established a mark Of
1856 LIS for 1900 meters, another
record formerly held by Ray. In the
last event the invader romped away
from his countryman, Ritola. TO a
new world mark of 14:44 3-5 in the
5000 meters, 10 seconds better than
Ray did in 1919.
It was Nurmis night; that could
not be denied. There was another
on the floor who established two
world records and shattered another,
but for him there was no throng of
devotees. A native of the United
States, and with his ability being
tested on this same battle ground,
Loren Murchison. marvellous dash
man OF the Newark Athletic Club,
ran in form. He cut a fifth of a
second from his own 220-yard figure,
and established marks of 29 seconds
for $50 meters and 6 seconds for 50
meters.
Then Alan Helffrich Of Penn State
raced to a mark Of 1908 4-5 in the
50o-meter event, the sixth record
MAILING performance.
From the time he appeared for
war7ningup exercise aefore the
events Of tho evening started Nurni
was hero as few have been. EveSy
step he took was cheered by the 49,
900 fans. and when he toed the line
for his races the same hearty wei
come poured from the crowd. At the