La Grande evening observer., April 05, 1928, Image 2

Thursday.April 5, 1928
Putre Two
LA GRANDE EVENING OBSERVER
$8.00 '
WK are presenting n moM
;iui henlif collection of
Miiarl. new tr Kurt!... ;
25c to $2.50
AM the new
sliii'lH uml rom
Mnutinns in vol
v r I , Korretli,
allk fiuilH, rutt- .
her flo-r
t pr-tiy ffmlnlnt
nole for your coa-lump.
$3.23
M.93
QI.OVKH nf inipplr Vl.1kln.
lu ruff gay .Ha rlnl.rui l-
Stepping into faster
-THK
STTI.IKH
HKAl.TM
KM OK
Dependable
Quality
EXPLAINS STOCK
BOOM'S MEANING
Sensational Advances in
Wall Street Exchange
Stagger Imagination ?
KIUTOR'B NOTKt The wild orgy
f trading In the stock market re
cently that ban boomed values of
certain iivuw fuf ; 'heron)) iS'll' pr-'
vlous limit comprise the mot in
lerewting, the leuM undenttoml and
piotutMy the mot vitally Import
;int news story of today. In the
fi (lowing artlele for The Observer
and SKA Kervic, Richard HpiUane, ,
noted financial write, rie
extent to which the
fone.
tdine has I
By RICHARD KI'II.I.AM'
fCopyrlrht lS. NKA Service Inc)
NKW YORK, April fi. Sto
: thlnr In connection with the pren
ent Ktock market are enough to
t a (rer the Imagination. There hn
leen an advance in the apprnined
value of aome of the leading b-mie
beyond anythin; In the history f
Invesimentn or speculation.
Take General Motor, for ex
ample. It gain from lowest to
highest within the present year ha ,
been point. As it has 17.44A.
u0 share of common uck out'
standing that would mean. In mar
Vet appraisement, an Increase In
value of fl.SQA.COOoO.
cor -
A the I'nllrd Rlnte Steel
poral Inn, once Ihe moM gigantic of
;ll corporations, ha only 7,1 1
?35 share outtandlng and ells
aronnd 148, It would appear that
the Increase In market value alone
nf General Motor in the present
year In greater than the market j
value of the total stock Issued of
1 'tilted States Steel.
Twice Value of Whcwt
Or, to measure the enhancement
In value of General Motors hy an
other yardstick, consider the grain
1 e op that of wheat, for example.
-At th price of wheat today, theja tip on
grower nf thnt great essential to'th.m a m
our life mill get nhout $ "fta.oon mh
jS tVkcd that famous
m Wi. I H ' y "r Wn X
J v' y fiT,"'il,,y Pfice-i
MMot .
Cross
B11J
VEAR after year sees a greater demand
A for our famous Hot Cross Buns.
Baked fresh every day.
williams Electric Bakery
Oppogit Observer on Adams.
GLORIOUSLY attuned to the mood of Che season
are these new shoes - - and in selections so large
that you match most closely your Easter outfit Pat
ents with pastel trim in lxth military and Cultan heel
- - Straps and Smart Pumps.
6.00 to 10.00
HILL'S
for their crop, or little more than
hnlf of the rie In VMlue of General
Motor in three month.
Then consider the Radio Corpor
ation of Amerk-a. It pays no div
idend on the common toek. Thi
Mlork ftold l&xt ytr at 41 W- It
otd recently at J.
(;rrsir4 (iain In Ifl4nry
A wore of llluitiration of re
markahle Rain In the Lnt three or
nix month might he given. Noth
ing comparable lo such Increase in
marnet value or so many variousji,, ,nat the flotation of the Uberty
fi n k een seen in peace time
in thi nation.
What i lha explanation? How
is tl that tock boomed when
businei obviously 1 not holding
Kood and an unusually large tin-
employment I reported eut and
.west? Where doe all (he buyinervow nn. ..uri!.,i rtr th.n.iy
come from?
How much of It 1
professional and how much come
t ntl v... ., . vIM m.nna nr .h.Iiill ih r illr..:i.lE r.r u-r .it rh.ir
No one has the mean or the
qualification, so far a we know.
Tor Kent hk accurate figure a to
the percentage of stock exchanve
husjnes that i professional, and
what proportion is what 1 called
fpunue. tint tne total of the un-j
professional i co!uxal. Ies than,
15 years x the amount of huti-
nes that came frum outside of j
New York wa very Kmall, Today
sme of the so-called wire houses!
have from 20 to 4 branch offices.
The nation is honeycombed -with;
ranch offiees of New York brok-
erage establishments.
ne eotablishmQiit has a special
or private wi r e to 11 a va na. O r -iters
from Kurope received br
jrable bv various banks averaee one,1T1ff lu fst that the ntoek
ta minute for every mlnnte from 1
la. ni. to 3 p. m. The-e orders do
: n..t deal wholly with stocks but
j with bond. ith exchange, and va-
jrious detriment of finanre. Some
brokerage huue have ns many as
branches within the riiy of New
I York. I
There Is nothing in financial
hlrtory to npproxim.ite the growth
fn Nto-k exchange transactions. To
"play the market" has become a
national mania. If you nre of Wall
treet. the barber who shaves you
t liable in k what you think of
this or thnt stock. He will take
it stm k more gratefully
ney tip.
A d. tor of pnmtfnen- puts In
BOTH
-OMKOIT
AKD
Dependable
Values
mo of hi time between 1A and 3
in a broker' office and hi pa
tron mut vWi hira before 9 or
alter or ko without hi mimt ra
ti on.
., v ,
Z I ZL .
I" Z hty(wm tw taHf th7r
'Zlth l"F ",c.lhaB Jo
"- i
Martcd rhtrlnc War
Kxplanation are variotut a' to
the gene! and prowl h of thi
"Ktock" mania, tin ff ib tit
loan created a (treat army of in-
vest on. It Is unquestionably true
that beote.hti Vftf-ld war. sock
exnham. iradins- (.Imii -Kni.
jy profe,ional. Million of per-
MIM boueht Ultertv hond who I
never before owned a securitv.
f ih.m h-iv. n ih.
,,o-r r iiht ir.mnniM mm
luhii-h iuv .i .riB v...
stork in small or large portions tA
(their employes on the iiiM;illment
bawls. Many of the oil, steel and
motor companies sell their Ktock to I
their worker? at a price helnw the
market appraisement nnd on the -
"easv pavment" nlnn.
The httFincK In "o1d lots' on !
the stork exrhange "odd lots'
meaning 1e than IftO shares I
Immen-e. In faet the "odd lot"
people are the most lMflueml.il In
stock exi-hange circles. In effect
they
tminaie lis management.
Armr of SteeolalorH
Perhaps the bet explanation of
the tremendous Increase in stock
exchange business in the forego-
.exehange has gone to the people
'nsre.-id "f rnsking the people come
to Wall -ireet. It alo in a fact
,n"( " American enple have
become an army of Investors there
nt th" feme time, been created
vait army of speculator.
ne f the anomalies of the
whole situation i the disappear
ance of great figures in the market.
There ua a time when Gould was
:i mighty ojwrator. James II.
Keene nne was a great force.
Harry Content. John W. ftate.
Jeve Uvermore and others ruled
or tf"ere stippoel to rule, at lime.
INow there I no one who bulk
ahove the crowd. The reason
that the market V to big for one
intan to dominate or come near to
dominating. The tiank rule. They
have a power greater than gener
ally known. They specify the pn
nortbm of vnt ious groups of stock
they will accept a security for
loan nnd they rhJiuge the propor
tion in arcrdme with their
jilgment or their desire. If they
dtit like the motor outlook, mo
tor stocks are likely to decline, for
brokers will demand larger mar
dins from speculator in ni'tor. If
they are partMl to the raiK there
is likely to He ' good 1 b uy i ng of
the r.ii
Caught hy lUdlo
We hear of Mr. Ma hael Meehan
as a litg figure in the remarkable
ii"-e in ladi. Mr. Meeh.tn Is an
.idle rttixen and has had u ite ex
perience In Wall strert, tv: t there
are greater forre- lack of the
move In Itadto. As a matter of
fact a m.m mho at one tine man
a mighty figure in the stock mar
ket such a force that he engaged
in a battle to the f;nih mith liar
iiman uhen Ilorrinvin was at the
height Pf his power and didn't
dime off second best is under
fciiwul to have been caught heavily
K.'iort of Kadio.
thstinate naturally and some
what overhearing. It i understood
that mhen he found the stock be
ing run up on him he threw cau
tion to the wind and increased hi
short commitment. He appears
to be trapped. ,
Wall treet Is heart ami soul for
Mr. CooIiiUe to succeed himself, j
It always la 'Tor" a conferral iv.
It aim ays, la for the established or-
der. It always la against a chance, j
It may. In part, vote for a demo-
$2.00
The new Htr-n -derette-
hose .ith
pointej he-i . - .
flattering h-auty
4 comfort for
IZaster -ar.
The smartest styles
of spring demand
these new collar-and-cuff
sets, dress
front, and combina
tions. Dainty lace,
fine linen.
crstt. but It haii found a republican
executive more to it liking than
democrat and it hope for the let
uVr.52.1-:
fin regard to the coming national j
I election.
Kome thine that vtnnd out a
plenty a a lighthouse are not ;
en or undertod by the gTet
'max of people In rebttlon to Wall
j M reet and to stock exchange price.
ne 1 that the old eroding of h
tock on the hin of a 4 per cent
bmd a a par fatels of appraise
ment U paMt and rone. Mon
rate are lower. The rating now
.Money
doner to 5 per cent.
doner to 5 per cent. It may go
lower - probably will. Sound
. .
"" I'"" " coinroiinu
r r 3 rmium-
. Killing"
i ii i Kincuiar iiri inn in an
the rit of peculation that ha
been under way minth after month 1
lth iill the akyr.x ketinit of prices
there ha been little nr nothinc
ihat ha come out about
anyone
nmklnjs a Kreat "killinB." This is,
H the more aurprixinje hecause;
Wall utreet I like' irtiphty sewing t
circle for tw)ii and. uHiiallv. '
entmvairnnt in it utaiement.
- It I ohvion tht the handline .
"f btiylnic and eelJine order on '
ftimminn nn i he onhuntro a dlk.
(ImKiUhMl from iermutl tratlinr-'
ha !.mr immnwiv nrofitalde I
ihw 4 uhh fiM(l.h:.r ri:tv. Ttii luieltmaiic ntors not uncommon to
reflected in the manner the orice
seMts" on the etrhaniie hiifj
been jumping daily toward the half ,
million dollar murk.
There never ha been a stock !
market like the present one. and a.
"bear - might -be excused for pray,
Ing there never mill be another.
But who would listen or be In
fluenced by the prayer of a hear?
Picture, seem better suited In a ' thrivina; at a three-mile altl-
room if they are hung so that thei!,,,i,t- tl" hiffn,rt Nation reached
enter of inters come about the African vegetation. On Kenya
eye level. It is dressing to en-! ar" MCn 12
ter a room and to e the furniture j ho,,r!l lon?- an1 in no 1hr Vlr
1 hen look .10 an.l ee a line of nic-! n the world does forage grass
ture on the wall.
AltOiit the only way to be neutral
Is to buy a car costing over a thousand.
DO SHARKS LIKE WHITE MEAT?
r : "vi
I
: r tT"iJ .
Shapes Are Tight-Fitting, Cloche and Large
AND the smartest colors for wear in the brilliant Easter parade
are cafe creme, castilian red, Independence blue, lake blue and
black. Trimmings of f loweis, f ruit, lace and veils are new.
'Dependable
Values'!
! Forage Grass Brought From High
Lands in Africa to U. S. Pastures
fly lrank I. WcUcr
(Associated lrec
WASHINGTON
Farm Editor)
age jrrasaca and
of 5f different forage
a dz-n p-cie of clover, leathered
hy the first white men to gaze up
on the plant life atop Mt. Kenya.
,only snow -covered spot on the
equator, have been brouitht 10
America, to rebuild pasture lands.
U W. Kenhart and U. I liemel-
!, itnerai plant explorer, tert tnc
"rrTiMde for rrnm," a molern ver-
:ion of the drama that every enl
ration ha enacted anc7 man
n-afh d the pastoral etase. The
primitive herdsman moved to dis
tant fields when starvation faced
hi flocks, but modern agronomic
nractire has reversed the order bv
. . . . . ftt .
Two pnrne factor dirMted the
qet to Africa vast plateaus,
I'ur rotintlrM Cehlurits they Tiave
l-en a paradise for herbiverou
animals, an indication that irrasses
if rowing there are rich In pastur.'
qualiiie. Knualiy important Is the
faft that highlands of eastern
Africa subk et foraee plants to
those on the American nlains.
k n Kenya and Tanganyika the
xnlorer sufi'ered from cold In-
w -ad of heat. Mt. Kenya itself.
attninlng an altitude of 17.00 (eet
and tipped with the only snow on
the equator, provided the seed of
numerous gras-a most likely to
suit their purpose. Two hundred
mil away, on the lofty slope of
Mt.. Kilimanjaro, they found forage
grow naturally tinder such condl
i tions of temperature.
! Fighting their way aeroas 30
imib s of both mild and farmed ter
; rain. Kephart nnd riemclsel, ac-
Especially charming is the new Sisol imported
linen straw. There are also pretty models in
felt-and-visca combinations and silk-and-straw.
HILLS
THE PERFECT MENDER
You ran mend silk now, lingerie, silk sweaters wtlh this very
practical mender. Runner nre mended without thread. isee
ihe pM-ft Mender at the hofciery counter.
comnanfed by native ruldes. col -
iecu seed from 75 per cent of the
i
private laboratory test, they will
be turned over to government ex-
P4riment stations. There is no oath the republican m. mherhip
definite knowledge that the -pianta I was Increased to 4 with Ihe demo -
mill grow In this country. ut paJcratic membership remaining at
t"7 i ii r- imun tor ui'Hiniiifiu ui
agriculture to nope for valuable j
addition to the pastures and mea-1
dows of both the north and south.;
New grassea to lengthen the sea-
son of irreen forage, it says, would I
be a big factor in lessening' the
cost of livestock production. The
west is especially concerned. Fig
ures Indicate It takes from 1 to
15 acre a season to pasture one
successful, the carrying rapacity of
m-estern ranges may im materially
It 1 retarded as significant that Mayor Joseph G.
African grawes. growing waist-1 Champion and J. Fred Mannc,
high over an ma half as large as President of the chamber of corn
all of the t'nited States, make it "wrce. received letters worn ins;
resemble the waving; prairies of
Aniertcan frontier days, l-'or the
most part the grasses are peren
nial, but whether "they will con
tinue to Ve when grown In a coun
try of alternating seasons Is a
question only future experiment
ran answer. .
HA IT HF Mm ATMOrTtX
NKW YORK. Apr. S. AP) Ex-
ecu live of eastern railroads meet
ing here today to discuss merger
plan adjourned shortly before 1
o'clock without making official an
nouncement.
The nnpkin or "serviette'
usually placed at the left of th
forks and parallel with them. If
the napkin is folded in n o.nfl re
or otherwise folded so that the cor
ners are up, it is placed so that the
open corners are toward the date.
ASK US ANOTHER?
'Dependable
Quality"
Is
Vdndenberg Takes
uatn of uttice
WASHINGTON. Anr. 5 fATl
1 Arthur H v.mHnir-f .i,n.r
f Grand Kapida Herald. -took
from Mlchtran. succeeding the late
, Wooclbridjpe N Ferris.
With the administering of the
,11. 1 nere is one tar me moor mem-;
ber and three s-ats are vacant.
- .
J Jrw r 4 is itwM XT'.'i.-o
rl"'l-1 c
Damage Is $200,000
ATLANTIC CITV. X. J.. Apr- 5
(Al) Fire of undetermined ori
gin, bi-lieved incendiary, early
jllshment and damaged several resi
t rtences. The loss mas estimated at 1
that unless the agitation for a di
rect ta x on the merchant was
dropped they mould be killed and
he town mould be burned down.
The b iters were turned over to
postal authorities. ,
Former Secretary Fall is quoted
as ready to tell the. story of Tea
pot lorne. He doesn't mean ti ll:
he means review.
So many folks morry about their
lot, mostly ttecause they haven't
any lot.
1-
1
A New Hat
To Complete your Wardrobe
It will b, n i..,lr, fr yu
hit fro.,, Ih, I,.WI f ,he
wtiuunt targe display.
ver- i and . t ,i.
And ,he price ,
plf-ise you ui
Our frlrnillv
"kiliB final! Wffkly
Vr is jon iwynio InnVrrlla way.
Cinderella
FrockShop
COATS
A pretty nw scai-f
adds charm to an
Easter frock new
shapes and alluring
new shades and col
or combinations--.
$1.75 to $3.50
j Death 3Iystery
r iA ciaj
Police Believe
rA-VmtlDGK, Mflsa., Apr. 5
I A I) Ptate police today believed
kintne- of ine-iiri( ki-...
j Itevorly school teacher, with the
larreat torfay of Frederick It
.Knnwitnn a4 ve.im ni.i nmrrii
i Framingham
electrical supply
liteal.-r.
j Mis Stewart's body was found
(by a roadside In Concord last l"ri-
Z r right temple crushed. 8h
I had b'en missing from the Beverly'
i school for the deaf mhere she mai
ja teacher since Thursday her dar
l Off Knnu llnn 'nilmiftiul . Iin.l
I nights and that Inst Thursday sh
I came to Framingham. '
Investigation reyealeiU-iiiat. tost
Siiturday Knowlton washed his
car Willi a solution nf chloride of
1 lime.
AXNOI WCi: OAKAV-VV t
SAX KIlANCISCO. Apr. 6 (AD
The Ited wood Km pi re associa
tion nnnounceii here yesterday that
a party of "nathffndera" for Ihe
annua) Itcdwood Km pi re caravan
mill leave here Friday to visit
Sacramento, Chicof lidding.
Yreka. Cal., Grants Pas. Rose
burg. Kngene. Salem. Ton land.
Ore., and Longview. Olympla, Ta-'
coma and Seattle, Wash. ii
The greatest rnemiea .of any
good cause are the extremis' who
favor it.
, r,
lat.st millinery
new spring
linerv creation in
Kverv im
,, "7.7" 7" ...
,,k for .h'"-' T'
iT..lii .
mynifnu on the humr.
BES!?F8
MIUJMJIT