Medford mail tribune., May 20, 1928, Page 15, Image 15

POTT! RFVTCtt
Wall St. and the Public
Kpr-ctneulnr .OOU.00.har day ;Th oihw day ih prim of a aeal
on the New York Stock fcxchunKO ! ran up to 3T5.00o. This Jump
are not fully accounted for liy the from low to hiBh In the price of
explanation that Wall mreet Is seats in the lat So yeaiH Im a fair
MKger thnnll USP 10 he. The susisestion of how everythinii con
Klrect" l different In quality aa .nnln the stock pxi-haiiK has
well iih In MUuntity. considering U Increased In scale,
not as a short and ancient thor- i Tnidinp was almost entirely In
nUBhfare. Iiut as an Institution ulili- bonds nail hank storks
with n composite character, re-j until l:io. when the first railroad
.........k xuiuivn 01 mo men isiock, the Mohawk & Hudson, was
w ho, in nny Eiven period, make its placed nn the list of the exi hanKe.
iifthmlfl. manners and morals. That heitan a new era which lasted
a cnangeu anil cnaiiulnR Wall ( for many years and developed
Mreot may account for the new j tit a n i interesting personalities.
hlKiiess. The bigness may have Rood and had. In those ilnya a
wrought the change. Which came small part of the1 public was fasi i
flrst, the egg from which the first ) naleil by Wall street and per
h. n was hatched, or the hen that I petually fooled by It. The igiioi
laid the first egg? No matter, we lance of the outside investor was
have both eggs and hens. - And at (almost loo per cent, and he had
the world's financial center, which Inn means of learninn nnythlng.
Is this same Wnll street, we have I Now, If he wishes to exert him.
lioih tlio vast nuantity of the new self, he has the means of knowing
business and the new quality of ; a great deal that is relevunt to the
the methods by which It Is trans- value nf the security In which ho
"'''' thinks of investing. The broker
The quantity of new business Is knows the investor knows. Also
obvious from day to day to any-'the brokers themselves know n
body who takes the trouble to ; great deal more than thev used to.
read only the record of total sales No Morn Gut-sswnrk I
of securities for any single session j Statistics hnve taken the place,
of the stock market, writes I'harles I of guesses. Tips and hunches
A. Helilen In the New York Times have given way to authentic peri
mngazlne. There wns the record ndiral reports required of corpora
of .March 27, on which day 4. Tan,, j Hons by federal and state govern
270 shares were sold. And in the inents and by the stock exchange
last week of March there were Itself. llefore such reports and
four days with a record of moreistat ems were ordered by the
than 4.000.000 shares each. Three- interstate commerce commission,
million-share days have become the speculators and manipulators
commonplace, nltlKugh any one; could play with railroad' stocks In j
oi iiifin means transactions ot any way tney liked. They nan
something like SJlio.iilio.lioa crowd-; their group wars to gain control,
PILOT ESCAPES WHEN PLANE HITS STONE MOUNTAIN
y-
nil into five hours of trading
The First 3.(HI.000 Iny
To Kft tho first 3.00f).ono day
on tho records it is necessary to
Ko brick to April 30, 1'tni, when
tho tickorH nil owed a total nf 3,
: 70,8 51 shares. Nine days later,
tho day of tho Northern Pacific
corner, tho total was 3,072,305, 1
J.iit they were isolated cases,
widely Hpantted in time from
trading of similar magnitude.
ami they nmdu corners regardless
of Die welfare of tho railroads j
themselves or of .the public that
'd nn the roads for com-
oi traded Mindly In their
I depend
1 merce
Ktock.
j All that is very frroally cHnnired.
' I'ools continue to exist from time
i to time, and there may ho cor
iners, hut as to the Intrinsic values'
j of corporation properties and their
; earnings there is no more secrecy.
Hut since then there have been' ,,,, lhl ', .
U'orileil on the stock exchauKO lists I
has been a faotof in producing, not
onntempt, but surprise, then curi
osity and then the Itch to buy. In
the obi days xo per cent of the
The new quality tho change it, ,, )p ,.,.. Now lh ,,,.,.
he character of Wall street a ml ,.,.vt.,,s,.. f , vall,i(. se
lls people, is not so obvious. There ,.,., . . ....
that show sensational gains or
losses, but the names of men. of
the stock exchange members anil
i -&fii2,i4y k?) A-;W a
s. . ' " v . . - .
iuanui'iii'tui'4'iN' piotlucLinii baei
somewhat swamped the parts
maker, and. even the dealer with
respect to a knitwIeilKO of who Ik
making certain important en.u-
nee MMi'iien. tin a car im rod need
not so long ak'o, a metropolitan i production was so blnh that It had
dealer told a prospective buyer to buy from two carburetor niak
thnt the car was equipped with a ' ors to fill its needs. It lit true of a
eel tain make of cHi buretor. lie ' host of car parts. It keeps the re
wns wri'iic Some of them were taller on his toes to know juut
and smiie were not. The company's : what is what.
Pilot Johnny Kytle, of the Atlanta, Ga., New York air mail, had a narrow escape, from death when
his plane crashed into Stone Mountain in the fog shortly after leaving Atlanta. Thoto above shows the
wreckage of the plane; left, below, the remains of the cockpit. jOn theright is Kytle, snapped before
leaving Atlanta on the flight north.
32 such days, not as ttnustiiil j
events attributable, to unusunl spe
cific cause's, hut as frequently re
curring indications that tho new j
measures of bigness have become
fixed.
Recently the oldsmobilc em- f spare, we recommend that ho put
ptoyes were asked to put Into tit on the ri-tht renr and tflve that
words their concrptiun of the 'tire a rest for a while," he stated,
spirit which actuates nldsmobilel ' 'I'lie other tires should be changed
workmen. Tin slogan selected as lion, h-fl front to left rear. etc.
the best was submHtid by Then. N. I Kadi wheel puts certain strains nn
a tire dilTcrciit from that of tho
other wheels, and by using the tire
tho financiers who deal through
them, are cither very much sub
ordinated in tho news or left out
altogether. That fact is one of tho
chief indications that Wall street
has changed.
Fewer Prominent Figures
There is more "finance" Than
over before, but here are no "Na-
IHiit-uiin, no wixiii u.s m iiiiiiti' t'illfr!
WIlUMIt llillllt'.l IIV.-MIH1 IIMUX'fllMtl ;
words from one end of the country
to the other. Occasionally an In
dividual bobs up above the horizon
of the financial news for a brief
sketch of his personality, hut there
Is no day-ln and day-out reitera
tion concerning him and his ac
tivities. He does not become a
popular hero.
There are 1 1 00 meheYs of tho
New York Stock exchange. Tho
spotlight of fame, beyond the nar
row confines of the actual, physi
cal Wall street itself, never toddies
nny of them for more than n
miniil". The market has out
grown its .lay Moulds and lis ll.ir-j-imans,
its Jim Keen oh and Its
( la loses, betting a million on the
progress of a fly across a window
pane . The business of Wall street
has become too vast to be domi
nated by any individual or grout).
This Is no reflection, of course,
railroad. The So per cent today
are of industries, public utilities,
retail business houses, popular
amusements and other concerns of
everyday life for the multitude.
Tho sense' of mystery, nf be
wilderment over meaningless nb-
I hrovlations of stocks far removed
' from common understanding has
1 vanished for tho ordinary man or
: woman, who now pores over tho
Ktock market share list In the
morning newspaper, running a
down the long columns in
search of something that will pay
good interest as an investment.
An entirely new generation has
hail time to grow up since tho
present prosperity era began. . It
has none of the old prejudices
concerning Wall street. It has had
(time enough to save something out
! of good wages, good', salaries and
independent business undertak
ings, and a large proportion of
these vast accumulations is com
ing to the street for Investment or
speculation. It Is the one place
In - the country to which money
does go for quick action.
Wall Street's Popularity
Not only is. the new generation
without tho antipathy against tho
street, but older men and women
who grow up with that prejudice
are getting rid of it, or, at least,
adhering only to the form of it.
This la true ot conservative man
Kortnoy, who for more than four
years Im been employed in th'
manufacture of (iMsmohilc en
gines. iiis slogan was one of njore
than SOU tuihmitit'd.
The two slogans which gave the
one selected h close race were sub- tires
milted by the oldest Oldsmohile
employe in point of service ;md
mill iifinif.n In Vnu' Ynrlr I'llv
nn tho personalities of the modern The change haH ,,t.en s Kreut ln'
financiers who, in their comparu- reot!ll veura tnal moHt ()f the con.
nihil Horvatlve commercial banks have
t Ive obscurity, are doing
greater things in finance than
thier much - more talked - about
predecessors ever dreamed of
doing.
They have visualized the intan
gible at the Oldsmohile factories.
The factor of organization loyalty
which makes n good product bet
ter has been put into words by the
workers themselves. They have
selected as their keynote tho fol
lowing slogan:
"Anything short of my host
not acceptable."
Despite the general idea that
quantity production methods have
brought about a machine-like class
ot workmen, there is a spirit of
loyalty and a pride in workman
ship comparable to the craftsmen's,
guilds of the past exisitlng todsiy ,
in the leading automobile factor- 1
ies. This fact, combined with '
marvelous advancements in mnmt- j
facturing methods, mnkes possible .
the fine cars now available at low j
prices.
Tills pride of workmanship is ;
particularly strong In the Oldsmo- '
bile factories, due part iy to the- j
large number of employes who i
have been connected five, ten. fif- !
teen, twenty or twenty-five years
with this veteran company. This
pride also Is reflected outside the j
factory gates as is proven by sales ;
in Oldsmobite's home county, ;
where, since tho first of tho year, !
Oldsmohile has outsold all other '
six cylinder cars and is second in i
a les to only one ot her ma ko, a i
lower priced four cylinder automn- dealers In Medford.
Idle. ' "When a motorist
on e:ich In turn the wear is evenly
distributed and the tire lasts
homer ami gives better service.
"It is also Important to have
looked over frequently for
mhirr cuts and bruises, etc., and to
have small repairs made promptly.
one of the youngest. Second place Tires should be inflated to the cor
was given to "On honest labor de- reel pressure as under-lnf lation of
perils success." which was submit- low pounds will often result ln
ted by a young worker who had 1 the loss of hundreds of miles of
jthf-Torbed the Oldsmohile spirit In useful service. Valve caps, screwed
a month's association. Third hou- down lightly by hand, should al
ms was awarded to "Striving al- . ways be used to prevent air leaks,
ways to excell our best," whieh j "If motorists will give their tires
was the conception of the Oldsmo- ordinary care and attention they
bile spirit gnlned over more than j will hnve less trouble and enjoy
30 years' connection with the com
pany. If was submitted by Charlie
1 Hades who has assisted in the
ma nil fact il i-e of the first Oldsmo
hile in 1 H i 7 and has been with the
company from the first.
j greater lire satisfaction.'
VairTreatment of
USED CAR buyers
. .your Buick
Dealer's Policy.
The used car that serves you most satisfactorily that
gives you the most transportation for your money
naturally offers the greatest used car value.
, 3o to the Buick dealer. He offers a wide selection of
makes and models in his used car stock.
His prices are fair based on the actual resale worth
of the car in question. And he will tell you the true
condition of any car he offers for sale. He is always
careful to guard his high reputation in the community.
When you buy a used car from your Buick dealer you
know that it will perform as promised you know that
you are getting your money's worth.
Gold Seal Butch
Are Guaranteed
Used Buicks
BUICK MOTOR COMPANY
fiint, Michigan division of general motors corporation
.. - " - r
MEDFORD AUTO CO.
38-40 No. Riverside Buick Dealers Phone 73
Automobile Notes
Better Service
More Mileage
The ingenuity of the' autotnotlvo
j Industry is ania.ing. CJIvo it a
j dill lv. ma and it will give ono a
j solution In about as short a time
las it is hunianlv nosslble to tin ko.
Firestone Tires ri iti 'mv'' '"',,n "ii,nv manifesta-
! lions of thin in the building of
cars. More rarely, hut just as oni-
iphatic, are some not definitely ro
Changing tires around ri oni ; ;,ted to iiutoinotlv,e engineering,
lime to time will result in longer Oe i; hind prov ides an Instance. Hh
tire life, and better all 'round ser
vice, according to I.. P, older, of
the Kxnhnnge Tire Co.. Firestone
now-finislud building was heated,
prior to the Installation of the reg
ular hen ting plant, by two huge
freight locomotives rented for thai
I purpose.
buys n new j The speed nf the pnsscnger rur
recognized it and prepared to meet;
It. Some of these banks have es-!
tahlishod , allied organizations by
which they can go into the Invest -
n was tne issuing oi guvt-rnmeni iment husincsa fm. tlwlr rientH.
no mis mat gave uie .m'v i oik.
stock market Its start and its first
reason for existence nearly 140
years ago, and it was tho issuing
of the millions of government Lib
erty bonds in the World war that
led to tho present public faith in
securities, which is tho chief un
derlying cnttsp of the grand scale
nn which Wall street now does Its
business.
Tim Flint Smirlly Trading:
Tho first bond-issuing incident
wna In 1 790. when Alexander
Hamilton was secretary of the
treasury In the cabinet of Oeorgo
Washington, and the first congress
of tho United States authorized
the issuing of $so,ooo.ooo worth
of the new nation's bonds to be
offered for sale to the general pub
lic. Shortly before that the Knnk
of North America in Philadelphia
nntl tho Hunk of New York hud
been incorporated, and a market
was desired for their stock. Hut
there was nowhere to buy or sell
this hank stock and these govern
ment bonds, so a group of a dozen
nien made a practice of gathering
every day under nn old hut ton
wood tree In what Is now Wall
fdreel. there trading In tho securi
ties among themselves and selling
to anyone who came along with
tho cash.
They were the first American
brokers. Their h u s i n o h h was
profitable ami their number
doubled, so that In 1 702 there
were 24 traders under the button
wood tree. They made a formal
organization by agreeing not
buy or sell for nn outsider for a
commission less than
Others, have experts on their staffs
who will advise patrons as to the
stock market situation.
The ticker carries the quotations
to tho waiting groups of would-be
buyers and sellers in tho provinces, i
north and south, east and west. '
In the course of il year each one j
of these Instruments records mdre
than fiU.0mi.uui) letters, figures and I
symbols. The service runs from .
Maine to California, from Canada
to the Oulf.
It is largely because of just such i
curiosity and such wondering in I
many thousands of placeH in the '
United States that Wall street is
what is has grown to bo tho se- j
emit ies market of n nation.
i
1 1
"Motorists accustomed to noise1 1
nt speedH a hove f0 miles1 nn hour
will got an entirely new. sen sat inn
from the remarkably quiet engine
opertnlon at high speeds now pos
sible In the new uurant 5. says
Mr. Remit, of the local dealers,
Sobin & Itendt.
"The low direct drive ratio
made possible by use of four
speeds greatly Increases gasoline
mileage. A careful check of gaso
line mileage obtained while testlrtg
tujthe Durant 75 showed that the rjtr
secured 1 9 miles to the gallon
no.fniirth while maintaining a speed nf 26
A
Real Service
for
Motorists
Here you will find the iost complete, all
round service obtainable car washing and
greasing, gasoline and oils and tires that
have the reputation of giving the longest
run of satisfaction and economy.
Quality tires for every transportation need
are ready to serve. Our stock of Goodrich
Silvertowns, Goodrich Radio Cords and
Goodrich Commercial tires is complete and
we are equipped to service them promptly
and at prices that save you money.
Our vulcanizing shop is completely equipped
with the latest, factory type machines to do
tire and tube repairing in a way that brings
finest results in both appearance and service.
Drive around and let us show you how wo
can give you greater convenience and bigger
savings.
WHEN BETTER AUTOMOBILES ARE BUILT
BUICK WILL BUILD THEM
STUBEBMKER,
The Great Independent
Sweeps the Boards
miles nn hour:
17 at a
speed of
16 at
,.r t n,K ,-ant nnrl tn IHVOr one
' ui- .m.! hfind ' 37 miles an hour, and
IranK.rlions. That was the h.-ln- "P';"' of T.n ml!- an hour
nlK f the NV York Stock M- Hocau-o of tho un..ua power
h"nKe It -tuck to ItH huttt.n- "ve e dby the He.l Seal fontl-
wood tree and .11.1 t,uxine out of nentnl motor with lt hlKh lurbu
door for 25 year,. ln 1IT It l-nee head, the Dun.nt 7o climl
took a ronm nt 40 Wall street. extremely well In t o u r t h nn.l
Thereafter It had nevernl lorn. ihown nmnzInK hill rllmlilnB al.ll
tmrn.. but did not have a l.ulldlnH , " "''-
of Its own until l!'.. when It leasneim of uhlftlnR Ream In the
Imuifht nrnpertv nt ll Hrnad ! Uurant permit, driven, tn take full
Ktreet. ort'upylnu" a part of the ,lte I advantaBe ,,f a run when rMmb.
.if the. present exehanse. Mem
liemhhn were made Wllable In
I nr.. nnrt In the fniiowinu year a
wt wan Bold for $7500. The rec
ord low price wa In JS71. when
memberghlp na old tor Si'SO.
Inn steep hllN. The driver'
easily and nolttelewdy chance gear
at pcedr nf 40 tn ftl) mlleq nn
hour and dnen nnt have to wait for
the: car to nlnnken pecd when a
shift ivcmi advisable."
Lewis Super Service Station
j Distributors . Phone 1300
SUNRISE SUPER SERVICE STATION SKINNER'S OARAGE
Sub-Dealers
holds all speed and stamina records
for fully equipped stock cars
Every Car a Champion!
eH'JS President Eight they 're championg all!
I T?eflH theie aertnrate cuinino twi rAa
officially certified by the American Automo
bile Association. Champions in performance t
Champions in stamina I Champions in dura
bility I Studebaker has taken these three vital
tests of value and proved them in the only way
they can be proved by heroic testa of strictly
stock cars under official sanction.
Think what this means to you in terms of
everyday service in terms of getting the
most for every dollar you invest in a motor car I
Studebaker Stands Supreme
These marvelous records made by Studebaker
and Erskine cars are positive proof that they
stand supreme and alone in their ability to
travel thousands of miles at high speeds with
out mechanical trouble. These sensational
proofs of inbuilt speed and endurance are
direct results of Studebaker engineering gen
ius, quality materials, precision manufacture
and rigid inspections. For these reasons
Studebaker and Erskine cars may safely be
driven forty miles an, hour the minute they
leave the assembly line. Engine oil need be
changed only at 2500-mile intervals.
When chamHorufiip performance and
championship stamina can be bought in
Studebaker-built cars at One-Profit prices
that in themselves set records of value),
why be content with less than a champion?
Today Studebaker alone can offer you a
champion in every price class. Come in today -drive
a Studebaker champion! Let the car
The President
1985 to 2485
. F. O. B. FACTORY
100 hatttpowtt 80 milts an hour
I 131-mch whnlbmtt .
Holds all official records for stork
closed cars, regardless of power
or price, from 3 to 2000 miles and
from 1 to 24 hours.
The Commander
'1435 to H625
F. O. B. FACTORY
MS horttpowtr 72 miles per hour
World's Champion car 25,000
miles in less than 23,000 consecu
tive minutes. Nothing else on
earth ever traveled so far so fast.
The Dictator
1195 to 1395
T. O. B. FACTORY
70 honepowtr 63 miln per hour
5000 miles in less than 4800 con
secutive minutes a record for
stock cara priced below S'1400.
The Erskine Six
793 to 965
f. O. B. FACTOR Y
43 horttpowtr 62 milts per hour
A thousand miles in less t hen a t hou
sandconsecut ive minutes arecord
for scock can priced below SI 000.
speak for itself.
O. V. MYERS CO.
132 South Riverside Studebaker Dealers
Phone 461