davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
EVERYMAN'S
INVESTMENTS

NY GEORGE r. HUGHES.

Outlook For Commodity Prices.
In the preceding article a way was
outlined to guard against changes in
the purchasing power of money by
dividing ones investments between
bonds and common stocks. The idea
was to eliminate this hazard, and
elimination OF hazards is the goal
which pure investment always tries
to reach.
Nevertheless, very few of us are in
terested solely I'm the stability Of our
Investments. although we may say we
are. What we really want is a chance
OF speculative profit plus safety mean
while. Some investors are willing to
take larger chances tina others, but
very few are content with a dead level
OF certainty.
1t may be interesting. then, to see
which OF the two forms of investment,
bonds or common stocks, promises
the most profit just now OF course
no one can speak with assure nee on
the subject. and the best that can be
offered Is an opinion. with the reasons
on which it is founded The basis for
the argument in favor of buying COM
mon stocks Is that shareholders are
compensated for rising prices of com.
modities. Ii prices fall over the longer
period the argument falls.
Now what is the outlook for COM
modify prices? Study Of the statistics
shows that with Interruptions prices
rose irregularly from about 1896 10
about 1920 or 1921. after which there
was a sharp decline. a partial recovery
and a sagging tendency since. During
all the furious speculation in securi.
ties and real estate over the past year
or two there was no corresponding
speculation in commodities. Prices
obstinately refused to advance on the
average. This at least liz a. circum
stance deserving of attention. and II
il indicates a trend 1t will only be fol
lowing the precedent established after
all great wars.
In other words. there Is nothing in
the present economic outlook to indi
cate that the rise in prices which
went on during the first 30 years OF
this century is going to keep up. In
fact, the signs of the times point in
the contrary direction. IL this proves
to be correct analysis for a LONG
time to come the bond buyer is going
to be in a better position than the one
who acquires common stocks.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
COMMODITY NEWS
WIRED STAR FROM
ENTIRE COUNTRY

CLEVELAND. August II. A..
Krider, secretary OF the Thompson
Products Co. makers Of automobile
valves. reports business liz holding up
well and prospects are that 1t will con
tinue favorable throughout the year.
Earnings are reported to have been
double those for the first half of 1925.
MONROE, IA.--Ford, Bacon &
Davis. engineers engaged In con-
structing a pipe line from the natural
gas fields of this section to Baton
Rouge via Natchez, have purchased
the uncOmpleted pipe line of the II. G.
Morris interests and Will transfer 1t
TO the Interstate Natural Gas Co.
PORTLAND.--M j. Newhouse.
manager Of the Northwest Prune
Growers Association, reports the tore
Of the market steady with prices well
sustained and business fair.
FALL RIvER.-The, Chace mills
here, which opened No. 8 plant this
week. will resume operations with the
entire works next week. Some large
sales are reported to have been closed
recently.
ST. PAUL.-The price Of bread has
just been reduced from lac to 12c for
the large loaf and from SC to Sc for
the pound loaf by the Purity Baking
Co., the largest bakers in this terri
tory. The reduction was made In face
OF rising grain prices to stimulate
ga les
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
Coal Exports Huge.
CHICAGO LIVE STOCK MARKET

CHICAGO, August United States
Department of Agriculture).-Hogs
Receipts, 1000 head; market gener-
ally steady; packing sows strong to
unevenly higher: barely enough re-
ceipts to test market values; top.
1850. paid for selected $50 to 10
pound weight; choice 20O.pound
butchers upward TO 1910; few extreme
weight butchers downward to 11.35;
bulk packing sows. 9.s5a10.25; few
10.50a10.60: practically no market on
slaughter pigs: heavyweight hogs.
11.50al2.50; medium, 12.00al3. 40:
lights. 12.50al3.50; light light. 12.75a
1880: packing sows, 9.50a 1860;
slaughter pigs, no prices.
Cattle-Receipts 800 head compared
week ago, receipts startlingly smaller;
yearlin2s. rs to 40 higher: good and
choice medium weight sharing ad-
vance: better grades heavies largely
IS higher; lower grades medium and
heavies slow. steady to strong: ex-
treme top heavies. 1000; long year
lings, 1850; killer demand Western
grass steers very narrow; stockers, Is
to % higher; feeders steady and rela-
lively low compared with light stock
ers: fat she stock scarce, so to 100
up: all cutters and bulls, % up: veal
ers, 100 higher; weeks bulb prices fol.
low: Fed steers, S.25a1015; grass
steers to killers, 6.60a7.25; stockers
and feeders. 6.00a7 90; meaty feeders,
6.75a7.50: grass.fed cows, 5.00a650;
grass heifers, 6.0Oa7.25: all cutters,
3.s5a4.50; medium bulls, 5.75a6.25;
vealers. 12.50a14.00.
Sheep--Receipts. 1000 head odd lots
natives upward to i4.40: culls, l0.00a
1850; for the week, 4.l00 direct and
14S doubles from feeding stations:
fat lambs closing rs to SO higher: Gull
natives strong to % higher; sheep.
rs to 35 higher; fat yearlings strong
feeding lambs strong to 10 higher
weeks tops follow: Fat range lambs,
14.7O: native lambs, 1885,, fat year
lings, 1900. fat ewes. 1855; feeding
ambs, 1885: weeks bulk follows: Fat
rangers. 14.00a14.50: native lambs.
13.75a14.25: Gull natives. 10.OOa so:
fat yearlings, 11.00a12.0o fat ewes,
s.00a7.50; feeding lambs, 12.75a13.S5.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
BY STUART p. WEST.
Special Dispatch to The star.

Special Dspatch 10 Inc Star
NEW YORK, August NO devel-
opment in the financial situation dur
ing the past week has attracted so
much attention as that which has
taken place on the Stock Exchange.
The upward movement, which got un.
der way some two weeks ago In the
big Industrial leaders, has resulted III
new high prices being established IN
limited States Steel and General MO
tors, the two stocks upon Whlcn ell
forts to bring about resumption OF ac
Invites on the buying side has been
concentrated. The week closes VIII
these representative industriais down
somewhat from their highs, but with
the buying still in progress IN otner
directions. - -,
The volume of business. while still
a good distance away from the record
breaking totals OF last March. has
been on the increase and on two oc-
"a sions exceeded the twoand-one-haii-
million share market. rms ~ a clear
enough Indication that the outside
n,,blic is taking more Of a part In the
proceedings than at any time SINCE
the elimination Of the bull campaign
some four months ago.
The Cochran Interview.
The snectacle Of General Motors
noying forward to 10 points daily
naturaily was expected to attract pub
lie attention. especially since the rise
was accompanied by the publication
of what was purported to be an inter
view with Thomas Cochran, one OF the
members Of J. p. Morgan & Co. credit.
Ing him with the statement that the
rise in the price OF the stock Is more
than justified by the earnings, future
nrospects ard management Of the cor
poration.'
Rut what was of more significance
RI speculative Wall Street was the
remark attributed to Mr.. Cochran that
General Motors should and will sell
AT least 100 points higher" Despite
the later contradiction by Mr.. Coch.
ran OF this latter report. there was
enough I'm the interview to fire specu-
lative imagination.
To say that the operations OF the
past week indicated that Wall Street
Is experiencing genuine bull market
would be rather far-fetched. The buy
ing has extended to industrials of the
speciality class where earnings are
known to be good and to few groups
whose prospects for their respective
Industries are favorable. But the list,
as @ whole, had failed to be Influenced,
and II is the result of aggressive OPP
eratious for the rise in few quarters
where the advance has been pro-
nounced.
Railway shares at the close of the
week have assumed leadership. The
demand for this clasR. of securities
has been reflection of The prosperity
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
SOME SHARES STILL TAGGING
AS STOCK PRICES SWING UPWARD
Rails Leaders in Rise at Week End-Public Partici.
patton Grows Larger-CeneralM Motors and U. S.
Steel Common Still Are Big Features.

of the railroads and the favorable
outlook which confronts the industry
for the remainder of the year. Ac-
cording to the report of the Bureau of
Railroad Economics, gross revenues Of
all roads were $3,02S,860,S61 nearly
1892 100000 more than in the same
period last year. Net operating in.
come was $494,S66,776
Should the same ratio of increase
be maintained throughout the re-
mainder of the year profits from 1925
will aggregate. 100000. which
would compare with $1,136. 900 900 for
1925. This. of course, will depend
largely upon crop.moving demands.
There is no reason to expect, how
ever. that IL should not be maintained
in view of the large crops which the
carriers will be called upon to handle
The net railway operating income Of
class l roads in the Eastern district
again showed the largest increase,
with total of S264,143.672, which was
at the annual rate of return OF 5.11
per cent on property Investment.
Commodities Stronger.
The rise I'm the stOck-market values,
however, appears 10 be the result Of
special reasons more than reflection
Of any pronounced change in business
conditions on the outside. Reports
from basic industrial centers call at
tention to comparative activity of
business at a period which normally
is the quietest season of the year. Ex-
IRENE heat has resulted in some cur.
tailment at the steel centers, but with
production holding up exceptionally
well for mid--August.
The grain markets have been In
fiuenced. In a, small degree by the
speculation on the Stock Exchange,
but this has been nothing more than
sympathetic. The declining tendency
Of some of the more important COM
modities has been checked at least
temporarily and buyers. while con-
sentative in making commitments,
are beginning to show less hesitation.
The cotton market continues to be in
fiuenced by weather conditions, with
the price for futures somewhat above
the 17-cent level, which is considered
the cost of production In most sec
tions.
The Investment Market.
So far as the investment situation
is concerned little change has oc-
Cured during the week. Investment
buying Is somewhat better but the
bond market continues dull, interest
being diverted by, the happenings on
the Stock Exchange.
The international banking com.
munity has taken a more hopeful at
titude on the French francis rise
above the Scent level, where it COM
pares with the extreme low of 1894
At tbs same time French government
Z per cent bonds established q new
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
HITS REFINANClNG.
Boston and Maine Minority At
torney Files Petition With I. C. c.

A petition for reconsideration OF
the Interstate Commerce Commits
sion's recent decision authorizing a
refnancing of the Boston and Maine
Railroad was filed with the commits
sion today by Edmund ID. Goldman of
Boston. acting for minority stock
holders.
Mr.. Goldman declared the Boston
and Maine IL under no legal or com
polling economic obligation" at this
time TO undertake IA retina ncing. and
took issue with the commissions And
ing that the road for several years
prior To 1924 had suffered an i'm
pairment of it's credit due tn a de-
crease in the market price of its Sc
curities.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
BY WILLIAM r. HEFFERNAN.

NEW YORK, August THE usual
week end profit-taking came into the
Curb Market during today's brief SEES.
sion, but it failed to check operations
for the rise in certain directions.
The oil shares were actively dealt
in at somewhat better prices. One OF
the outsa nding features was the jump
OF another three points in Red Bank
Oil. At 80 1t was up six points within
the past two days. At the same time
Humble Oil and Reiter-Foster contin.
ued In demand at higher prices. The
buying of these three issues accom-.
NEW YORK. August Following
is an official list OF bonds and stocks
traded in on the New York Curb Mar
ket today.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
SOUTH STILL HOLDS
STRINGS ON COTTON
No seriously Successful"
Competition Is Seen by
Col. H. G. Hester.
By the A Haociaied Press.

BY the Associa ted Press.
NEW ORLEANS, August Com
petition with the United States in the
production Of cotton, which il becom-
ing more marked in certain foreign
countries. has not yet proved "seri-
ously successful" Coz. II. G. Hester,
secretary Of the New Orleans Cotton
Exchange, declared yesterday in his
annual report on the 1925-26 CONNER
cial crop.
Col Hester estimated the CONNER
cial crop for 1926 at 15,614,707 bales,
an increase over the year previous OF
9l6.351 and over. that Of 1924 of
4.324,310. The average of the crop
was strict low middling, compared
with middling last year. The decrease
in grades was found to he due to ex-
cessive rains. Poor qualities began to
appear in abundance about the middle
OF October, and all produced west of
the Mississippi and much of that east
of the big Muddy" after that time
was of low grade.
The cotton authority asserted that
for time the demand TOR low grade
cotton was limited. but that many
mills found an advantage in substi-
tuting low grades at the heavy dis
counts they were costing for better
grades. As result: consumption was
extensive. The staple Of the crop was
better than average, was possibly not
more than 20 per cent of -eighths
inch.
The growth of the wear Hester
placed at II .435, 900 bales, compared
with 1896, 900 last year. The previ-
Gus largest. crop was 100000 bales.
in 1915. The Washington Govern.
ment census figures agreed with Col
Hester's record at that time within
1900 bales. He said ethat conditions
which have existed this year resulted
into the largest consumption known
and demonstrated the continued pos
sihilities of the South as the great ar
bitrator OF the worlds cotton supply.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
SALES $4,000, 900.
Montgomery Ward May Pass Two
,Hundred.Million Mark.

NEW YORK. August Z IP.-Sales
Of Montgomery Ward e. Co. for the
II months ended July 81 were slightly
more than $1ss 200. 600 giving rise to
the belief that sales for the calendar
year may exceed 5000 900, 900, as
against S1s4. 095, 989 for the last calen.
dar year. The net profit of the gross
sales in 1925 was cents on the dol.
lar and on this percentage and con-
tinuance of the present gross sales
the net profits this year would be ap.
proxima tely S13 $50 900. This. after all
deductions, would equal 1919 q share.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
DECLARES DIVIDEND.

NEW YORK, August @.-The
Securities Trust of
America has declared a quarterly div
idend of 80 cents on the common
stock. This is equal to $1.17 share
on the common stock outstanding be-
fore the declaration of 200 per cent
stock dividend on July "a. The last
quarterly dividend on the old shares
was $1.05.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
New Orleans Market.

NEW ORLEANS, August Cot
ton futures opened steady. October.
1922: December. 1903; January, 1904.
March, 17.17 bid: May, 1926 bid.
The market opened quiet and easy
today, Liverpool being lower than due
and early weather reports showing
continued good weather in the belt.
First trades showed losses of TO 6
points. Prices rallied soon after the
start, recovering / to points, but
soon eased off again; October trading
down to 17.19: December TO 1909. and
January to 1904. or s points on all
months below yesterdays close.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
NEW YORK CURB MARKET
Received by Private Wire Direct to The Star Once

panied reports Of the expectations OF
early completion Of the Reiter-Foster
well In the .Throckmorton field. There
is a very close working agreement oe-
tween Reiter-Foster and Humble On.
Red Bank Ia another which has ex-
tensive holdings in this territory.
Among the public utilities Electric
Bond and Share and Commonwealth
Power warrants were in demand at the
same time that Columbia Gas anu
Electric was moving forward sharply.
Duran MT continued to feature trading
in the motor group. but was held In
check by profit taking.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
TRADING IN COTTON
ISQU|ETER TODAY
Most Business Evening Up of
Accounts for Crop Re-
port Monday.
By the Associated Press.


NEW YORK. August Cotton fu.
lures opened steady; October, 1877:
December, 1890: January. 1882:
March, 1852: May. 1855. The market
was comparatively quiet during TO.
days early trading. with business at
triouted chiefly TO further evening uD
of accounts in preparation for Mon
days Government crop report. The
opening was steady at a decline of 6
to points in response to relatively
easy Liverpool cables, but after sell
ing off to 1874 for October, the price,
rallied to 1T.41 on covering, or within
a point of yesterdays closing quota
ton, and the market was fairly steady
at the end of the first half hour. The
warmer weather reported in the South
was considered favorable, but selling
was restricted by the outlook for
showers and encouraging reports from
the cotton goods market. Private
cables reported hedge selling with
London and continental liquidation in
the Liverpool market, but said there
was some trade calling with an inn
proved turnover in cloths.
New York cotton futures closed steady at
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
WOOL TREND STRONG.

BOSTON. August tSpeciaD.-I.ittle
change was apparent in the Summer
street Wool Market today, but the
trend in the range districts continued
consistently strong. with slight ad-
vances in bids. Mil buying is on the
increase. but many manufacturers are
awaiting the openings Of some lead
ing manufacturers next week of fancy
lines before making further commit
ments. as H4 z
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
TREASURY CERTIFICATES.
{ Quotations furnished by Redmond 8 CO..

high for the year, but have reacted
from their best figure.
In the meantime the latest weekly
statement from the Bank of France
discloses another increase in the
paper note circulation. bringing the
total dangerously near the legal limit
The tax increase proposals of the
Poincare cabinet so far have not been
affected and II remains to be seen
what success they win encounter.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
RUBBER HIGHER.

NEW YORK. August tSpeciaD.-
Crude rubber. smoked ribbed sheets
advanced q half cent at today's quo
tation Of 3sIa cents. This compares
with Al cents a month ago and S512
cents a year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
DoEHLER DIE EARNINGS.

NEW YORK, August L49.--Earn.
ings of the Doehler Die Casting Co.
for the first half of the year. after
Federal taxes. amounted to $335, 377,
equivalent after dividends on the pre-
ferred stock. to f2.ce a share on the
common. Share earnings for the
Same period lastkyearAWera-&i
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
WILL ENLARGE YARDS.

NEW YORK, August P).--An-
nouncement has been made that a
contract for enlarging the Baltimore
and Ohio yards at Toledo to accom-
modate 1900 to 1000 more cars has
been signed. The improvements will
cost about $500, 900.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
Money to Loan

Secured by FIRST deed OF trust on real estate.
Prevailing interest and commission
Joseph |. Weller t tSo Was" ash l. I n%
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
DIVIDENDS.
Your Banker. Knows.

When in doubt about a security
consult your banker. 1t is equally az
much HIS interest as your to protect
your savings. You trust him with
your deposits-why not trust him
with your investment problems1
YoungstownskeÌ SlovenskeÌ noviny = Youngstown Slovak news. (Youngstown, Ohio) 1910-1940, 1926-06-18
RoCNA VYROBA MLIEKA
v csR,.

z Prahy. (CEPS) Rol 'nici na
tlzemi Ceskoslovenskej republlky
chovajd okrdhle 2,29s,0O0 dojnfc,
ktore dajd denne 1o,4l2,ooo IL
trov mlieka. Priemerna denna
doiivost' cini As Ultra. Ma maJet-
koch statnych, ma ktorych je vyse
1000 dojnfc, einf priemerna do
iivost' 81 Ultra. Rocna produk-
Ella mlieka pohybuje sa oakolo IS
milionoy hektolitrov, eili 40 mil.
metr. centov. Obyvatel 'stvo pria-
mo spotrebuje Is mil. m. centov.
z ostatneho mnoSstpa. vyrobi sa
10000 M. centov cajoveho msasla'
$4,000 IN. centov masla sedlia-
ckeho, 100000 metr. centov tva-
rohu, 25, 1000 metr. centov tvaroz-
koy, $4,000 m. eentov inych syrov
a 1000 m. centov jogurtu.
YoungstownskeÌ SlovenskeÌ noviny = Youngstown Slovak news. (Youngstown, Ohio) 1910-1940, 1926-06-18
FAsIZMUs v cEsKosLoVEN.
SKU.

Basnik Martin Razus rozpisal
sa martinskych Mar. Novinach
0 ceskom slovenskom fasizme
a ich programoch. Pre- nedostatok
miesta uverejnujeme len vynatky
y programov Gsl. fasistov, hlavne
o priGinach zalozenia fasizmu. To
preto. lebo mich sa kazdy pre-
svedci, ze ma co sa zalujn fasisti,
ma to sa verni Sloyaci uz roxy
zalujti.
"Vzduch sa chveje nespokoj-
most 'ou a republikou sa tiahne bo-
lestny vzdyeh systemadeky okra-
daneho sudeneho naroda. Mimo
vedncich "politikov" a tych, co
sa mimi prizivujd a sd pravda
spokojnf - je celF narod otrave-
ny. Horoskop spokojnosti obean-
stva ukazuje spatne znaky ma ne
bi politickym stranam vladnucim.
Zda sa opravdu, ako by 81 ME-
kol 'ko l'udi republiku zpachtoya-
10 tym ciel 'om, aby skoro prisla
ma bubon "a narod ma mizinu. Mi
Hardy narodneno majetku sa tra-
tia ami nevediet' kan, pozemko-
w a domovny majetok prechodi
do rnk cudzich nepriatel'skych,
politick6 strany ziju z dplatkov,
ulebo 81 rozdel l'uju na udrzanie
svojej moci statny majetok, kym
poplatnfctvo prehyna sa pod tar
chou neznesitel 'nych DAM. Poll
ticki pirati, ktori pred prevratom
nepachli grosom, kupujl dnes
panstva, zamky a vel 'kostatky.
Politicke s.rany odpornym spo-
sobom napomahaju protekcionar-
stvo, obsadzujd d6lezitt miesta V
statnej administrative svojimi ne
schopnymi strannikmi. Povrava
sa hlasite, ze bez uplatku nicoho
sa nedocieli, S uplatkom vsetkeho.
Falosni proroci a polovzdelani
pseudointeligenti pod maskou po-
krokovosti najhlupejsfmi frazami
marxizmu a indie davno odbyteho
materializmu oslabuju narodne
povedomie a posmievajn sa Via
stenectvu ako zpiatocn1ctvu, kym
okolo mas divoko Sl'aha poziar GU
dzich nacionalizmov. Ouch Pala-
YoungstownskeÌ SlovenskeÌ noviny = Youngstown Slovak news. (Youngstown, Ohio) 1910-1940, 1926-06-18

ckeho, Havlickoy, Riegrov ako by
mas bol opustil, miesto fch hreji-
veho citenia narodom nastolena
je spinava falosnost' indolencia,
korupcia uplatkarstyo. Miesto
poctivych schopnych l'udi, w
kvetu naroda, na rozhodujuce
miesta nast1pili podpriemernl
kseftari stran. ktori stavajd osoh
svoj mad zaujmy l'udu ktorych
l'udu nadiktoyali pohlavaa stran
bez yole a snhlasu volicov, lebo
volicia mozu VOLT len strany a
ME poslancov."
Takto a este viac, pisu ceskl
narodovci-fasisti O dosavadnom
nplatnickom a vyEieraeskom Via
darenf VI CSR. 'Slovenski fasisti
pisu medzi ingm:
my, fasisti slovenskf osved-
cujeme sa voei celemu slovenske-
mu narodu, ze je mas fasizmus Wy
razom 'nasej uprimnej lasky k slo-
venskej zemi, nedelitel'nej Cesko-
slovenskej republike, k nasmu ma
rodu, jeho dejinam k jeho sta
stnej buducnosti. Ziadame revl-
ziu jazykovych nariadeni a Wy
zdvihnutie slovenciny ma Sloven-
sku "a jazyk statny so vsetkyml
jeho vlsostnymi pravami. - atd :.
Musi v tej republike panovat
.vskutku hrozna hniloba. lnac ne
mono 81 vysvetlit' tn zufalost
l'udu, S ktorou sa hrnie pod "a
stavy komunizmu fasizmu...