es cael acres wer oS [PPUBLISHED WEEKLY (¢ STIS oO ON ANY ON ( S Fifty-first Year GRAND RAPIDS, WEDNESDAY, JULY 4, 1934 Number 2650 FRX fo eR (se8 @ @ Myself I have to live with myself and so I want to be fit for myself to know, I want to be able as days go by Always to look myself straight in the eye; I don’t want to stand with the setting sun, And hate myself for the things I’ve done. I don’t want to keep on a closet shelf, A lot of secrets about myself, And fool myself, as I come and go, Into thinking that nobody else will know The kind of a man I really am; I don't want to dress myself up in sham. CG gG I want to go out with my head erect; I want to deserve all men’s respect; But here in the struggle for fame and pelf I want to be able to like myself. I don’t want to look at myself and know That I’m bluster and bluff and empty show. I never can hide myself from me; I see what others may never see; I know what others may never know, I never can fool myself, and so, Whatever happens, I want to be Self-respecting and conscience free. e )\ © Pr. e YOU CAN’T SEE DON'T TAKE A CHANCE THROUGH TIN A JUDGEMENT AGAINST YOU Neither Can Your Customers ; FOR PERSONAL INJURY OR Foods that are seen sell better. They tempt the 4 appetite. They reveal their own goodness. These DEATH MAY MEAN BANKRUPTCY facts, plus the pleasing novelty of the A FOR YOU. WHY nor “MONARCH WAY OF FOOD DISPLAY” 4 make it a hit with housewives and a very definite sales stimulator for grocers. PUBLIC LIABILITY INSURANCE “SHOW IT IN GLASS ' SELL IT IN TIN” GIVE YOURSELF THE BEST OF PROTECTION WITH OUR PRESENT i a : A service originated by Monarch for independent PREMIUM grocers, and offered exclusively to them. Display SAVIN 6S brackets loaned. Plans free. 20% e e ee ee Modernize your store this Monarch Way at small expense. MILL MUTUALS AGENCY LEO” eee 4 LANSING MICHIGAN REID, MURDOCH & Co. DETROIT SAGINAW Drawer RM Chicago, Ill. GRAND RAPIDS e e nae ms x 127,000 CASHIN... on This | Business Men Reduced | | Popular Summer Drink |‘ their Overhead more than . Iced Tea is one cold drink that’s really cooling $ 3 ) 0 0 0 ) 0 0 0 d UT 1 Nn 9 t h e and refreshing. Its popularity is growing every year. You can make it grow faster in past 12 Months with the your neighborhood—and increase your tea profits—by urging your customers to use Federal Hardware & Tender Leaf Tea. For Tender Leaf Tea is r.cher in theol, the flavor-bearing essence of Implement Mutuals Tea, and makes better Iced Tea. Recommend Tender Leaf Tea. Display it. SAVINGS OF 20- Give it your best selling efforts. Your tea R Co business will show a worthwhile increase. 40 C ON FIRE Federal Hardware & Implement 5 AND TORNADO Mutuals, J Union Guardian Bidg., “ INSURANCE. DETROIT, MICH. ‘ Without obligation, please send me ; a iia ener by mail the rate of dividend now aN : SS . being paid on my type of property. 4 z WRITE for the rate of oc ES ‘N 4 dividend now being re- ERO rte A Prodact of iN g turned on your type of PO aes, STANDARD BRANDS A ' : : ‘ INCORPORATED AN property So fg Cone ane nOnmiey T) y Chase & Sanborn Division Pate 2 Ai ra Ban Neate sigan sete eee o NRA te AER a 4 at — je BY) Dy (Ze K SS yr SSSA Fifty-first Year MICHIGAN TRADESMAN E. A. Stowe, Editor PUBLISHED WEEKLY by Tradesman Company, from its office the Barnhart Building, Grand Rapids. UNLIKE ANY OTHER PAPER. Frank, free and fearless for the good that we can do. Each issue com- plete in itself, DEVOTED TO the best interests of business men. SUBSCRIPT: ION RATESareas follows: $3. per year, if paid strictly in advance. $4 per year if not paid in advance. Canadian subscription, $4.56 per year, payable invariably in advance. Sample copies 10 cent. each. Extra copies of current issues, 10 cents; issuesa month or more old 15 cents; issues a year or more old, 25 cents; issues five years or more old 50 cents. Entered September 23, 1883, at the Postoffice of Grand Rapids as second class matter under Act of March 3, 1879, Sr JAMES M. GOLDING Detroit Representative 507 Kerr Bldg. Printed by the Tradesman Company, Under NRA Conditions Central Michigan Towns Look Good to Stebbins Dundee is a good country village of 1200 population, located on the Raisin river. The business section is in the form of a triangle, with a small park in the center. A picturesque dam extends across the river, the power of which was formerly used to operate a flour mill, now partly dismantled. The Nuway suspender, for men, was in- vented by a young man of this village, and was manufactured here for a time, when the Was moved to Adrian and the product is now sold by leading clothing merchants through- out the country. My route to-day was through a good farming country, touch ing the villages of Ida, Maybee, Carll- ton, Walz, and Flat Rock, located on the Huron river. Here Henry ford has built a large dam, the power of which is used to operate one of his many plants, this one producing the head- lights used upon his automobiles and trucks. This plant also supplies water for the village from a large elevated tank. The chain stores get about ail the trade in Flat Rock, but here I found an old merchant, E. C. Munger, who says he has put in fifty-eight years in the store he now owns, having suc- ceeded his father in the business of general merchandising many years ago. In leaving Flat Rock I took the Huron paved drive, which bends and turns with the river for many miles and is a most interesting route. Called at New Boston and Bellville on my way to Ypsilanti. Located a merchant to-day who had discovered he had been stung by a Detroit firm selling silver- ware for advertising. He had an oleo claim worth over seven dollars, but he was too. timid to have a claim filed, thinking possibly I was another crook after his money. I did not blame him at all. If there were more merchants reading the Tradesman, there would be business GRAND RAPIDS, WEDNESDAY, JULY 4, fewer of them taking losses from fraud- ulent schemers. Ypsilanti is a fine old college city. Here is located the first Normal schoo! established by the state for training young men and women for teachers in the public schools. Like the other state normal colleges its doors are sel- dom closed. After the June com- mencement program is out of the way, the summer term opens for teachers taking advanced work and acquiring the latest in educational fads. The term lasts six weeks, so those teach- ing will have a short vacation before the opening of the next school year in September. School teaching has long been a stepping stone for young people entering into the “college of experi- ence” in the various avenues of life. There is no doubt but there is some- thing seriously wrong in our present system of education, otherwise there weuld not be such widespread distress throughout our Nation. We have left the important matter of education al- most entirely with college trained men and women, who have a very limited knowledge of the practical side of hu- man living. I blame our educational system for the woes that have rent and torn society from its moorings. We have got to have an educational system which will do more than train the intellect in the sciences. It ntust be built upon the rock of humanitarian- ism. It must curb selfishness and Stress the golden rule. One need not be a seer to see that the morale of the people has*been lowered and patriotism to the government is at a low ebb. The great increase in crime, especially among youth, is evidence of these facts and that our educational system needs practical men and women, graduates from the business and agricultural walks of life to help in forming a cur- riculum that will include honesty, jus- tice and a respect for the rights of others. Here is where our educational system is weak. The training of youth must be broadened, otherwise our jails and prisons will remain filled and crime will continue a distressing burden to to people. If the faculty of the Ypsi- lanti college will make a careful survey of the business conditions of the city, they will find it is much impoverished by the greedy national chain stores, which each day send to the great finan- cial centers, the profit on the trade handed to them by thoughtless citi- zens. The profit on trade built this city, in the days when the people patronized home merchants. No com- munity can prosper when the profits on its trade are taken away, never to re- turn. A college should teach this sim- ple truth and that community loyalty is the cornerstone of prosperity. Chelsea—Had a good visit with Schenck Bros. They have a large 1934 double store and once did a big busi- ness, but have been hit hard during the past few years. One of the broth- ers reads the Tradesman carefully, and said the editor had fought as no other man, for the home merchants of this state. He said the Tradesman con- tains many excellent that should reach the people in general. Said he had asked the local editor to publish some of these articles, but he did not, for fear it might offend the local chains who ally..He said the greatest need to-day is an organization that will carry the message of loyalty to home interests directly to the people. This has also been suggested by many merchants. articles advertise occasion- Arbor merchants claim trade has slowed up considerably during the past few weeks. None of them claim they are making a profit and business is simply an endurance contest, The big national chain stores are here in force and it looks as though the citi- zens are giving them a royal welcome and forgetting the home merchants, who have so long been the backbone of the city. No city can be healthy unless its business earns a profit. The profit on trade has always lead the march of progress. Without it, communities be- come impoverigqhed and die. When home merchants receive the patronage of the people, the profits on trade stay at home. It gives employment to all classes of labor, builds new and bet- ter homes, finances industry and pro- vides employment. Just suppose these gigantic chain monopolies could drive out the home merchants of this great center of educational knowledge, what would be the result? It is clear to see that many more stores and business blocks would be empty and that rentals would decline. There would be fewer taxpayers and the cause of education would suffer. It is just too bad to see such ignorance of economic truth and lack of loyalty in a great university center. As one views the many costly buildings of this great state univer- sity, its vast stadium and_ athletic fields, then contrast this great insti- tution with the distresful business con- ditions which prevail among the masses, it looks to the careful observer as though it has failed woefully in meeting the most fundamental needs of society. Education is for the pur- pose of better serving the needs of mankind, and when it accomplishes this purpose fully, there is no objec- tions to higher research into the realms of the unknown. This great university was built with money con- tributed by the taxpayers of this state, together with contributions from members of its alumni, and friends. It has trained many young men and women, who have achieved national fame in their professions. The time Ann Number 2650 has arrived, when colleges and univer- sities must study the subject of jobs for the graduates that pass out of its The effect greedy monopolies are having upon the opportunities of men business portals, into business life. young and women, who enter life is a problem that educators cannot dodge. May they take up the study of this problem here in Ann Arbor, by investi- gating the effect of the daily removal of the trade city. It would be well for them to talk with the learn how the era of chain stores, compares with the merchants served the entire needs of the people. Called merchant subscriber here to-day, who knew nothing about the He knew nothing about the valuable price change service brought each He had a for the refund and lost one year of it by not reading the Tradesman each week. profits upon from this home merchants and era when home upon a oleo refunds. him week. good claim oleo Made a claim for one year, and after explaining the importnace of the market change feat- ure, he wrote his check for account in arrears and from now on will watch the markets with care. While talking with a merchant to-day, a former sales manager of Cornwall & Co., Saginaw, stepped up and told how the Trades- man saved his corporation one thou- sand dollars on a claim presented by a railway company. Their attorney ad- vised payment, but the Tradesman in- formed him of a statute of limitation, which the attorney acknowledged was new to him. This is not the first time similar claims have been made as to how the Tradesman has saved money for its readers. Dozens have so testi- fied. It is just too bad that some mer- chants neglect reading the Tradesman carefully. Many a merchant has lost out on the oleo refund by not being awake to the facts brought him each week. Chelsea is a good country town of 2000 population. The Glazier Stove Co. built a fine plant here years ago and gave employment to over 400 people, producing oil stoves. After a few years the business failed and several other enterprises have since occupied the buildings, but to-day the plant is idle. Another smaller factory here produces screws and bolts for auto manufacturers and is operating with a fair force. A branch of the Hoover Ball Co. is located here and employs about twenty people, making steel balls for ball bearings. Here is located the cement plant which is owned by the state. It is not operating and its future is uncertain. Stockbridge is one of the best vil- lages in Ingham county. The business district is built on three sides of a beautiful park, which is the site of an (Continued on page 17) MICHIGAN TRADESMAN July 4, 1934 THE COWARD’S REFUGE Repressing, Restricting and Reducing Maximum Productive Capacity It has been the essence of the Amer- ican spirit to face the future with high expectancy of new and vibrant possi- bilities. The American has been a man of faith, He has alwavs scorned the suggestion of surrender in the face of difficult circumstances. He needs to remember and to rely upon that spirit now. A thousand and_ one whispering to him that his only hope voices are of salvation and security lies in a de- liberate retreat from this age of plen- ty and a planned return to the age of scarcity. Today some of us are under- taking to challenge the soundness of this widespread advice. There is no dodging the fact that the relentless advance of physical science and industrial technology has confront- ed us with unprecedented difficulties. The development of scientific processes has moved with airplane speed: that of social policies has lumbered on at a stage-coach rate. Research in the phys- ical sciences has produced social changes faster than research in the sciences has perfected social controls. All sorts of maladjustments have occurred. And the result has been social a race between scientific progress and social instability, with social instability, for the time being, in the lead. The blunt truth is that the revolu- tionary results of physical science and industrial technology have brought us to a cross-roads where decisions that will determine our destiny must be made. There are only two choices now open to us. We can call a halt on scientific research and technological advance un- til they no longer put so many strains on the traditional structure and func- tions of our special order. Or we can put our brains to the business of mak- ing such readjustments in our politi- cal, social, and economic policies as will enable us to take full human ad- vantage of this new age of science, technology and plenty. The first choice is unworthy of the American tradition. The second choice would mean that the spirit of the pio- neers is not dead in us. To me the most disturbing fact of the time is the number of Americans, in high position and low, who are fall- ing victim to a defeatist mood, appar- ently assuming that progress has come to a dead end, that science and tech- nology have been too efficient in pro- ducing a limitless output at low prices, and that the thing to do is to plan a lesser output at high prices. To restrict production and to raise prices as a general policy is, to me, not liberalism but reaction, not statesman- ship but surrender, not creative ad- vance but cowardly retreat. That way lies the subsidizing of inefficiency. That way lies the sabotage of superior man- agement that knows how to bring both the cost of production and the price of products down. That way lies a per- manent and perilous lowering of living standards for the swarming millions. It was not for this that the pioneers builded their blood and sacrifice Into the foundations of this Nation. More goods at lower prices is the logical goal of an age of science and technol- ogy. To me it is incredible that, in a world of tragically unfilled human need, we should now set out upon the Quixotic attempt to increase welfare by destroy- ing wealth or declining to create it. Our ancestors fought valiantly over the centuries to conquer famine. Are we now to say that their conquest has been too decisive? After the sweat and sci- ence of generations have brought us out of an economy of scarcity into an economy of plenty, are we to confess that we are incapable of managing plenty, and deliberately legislate a mod- ified famine? I think history will pass a bitter judgment upon us if, in the midst of such manifest need, we take this road in dealing with the difficulties now confronting our farms and our factories. Two things must, I think, be done in our schools, colleges, and universi- ties to help prevent our taking this sui- cide’s road. 1. From one end of our school sys- tem to the other, we must rebuild our curricula around a spinal column of political social, and economic studies which reduce to utter simplicity and intelligibility the plain principles of or- ganization and operation that must govern the work of an age of science and technology if its magnificent mechanism for producing abundance is to serve instead of sink us. These studies must be organized, not in terms of traditional academic objectives, but for the avowed social purpose of train- ing a generation of citizens to play a productive role in the creation, com- prehension, and control of a workable social and economic order in an age of plenty. 2. The universities and research in- stitutes must organize to insure an earlier consideration of the social and economic effects of the discoveries of the physical scientist and industrial technologist. Under the research sys- tem to date, the social scientists get into the game too late. They wait un- til the discoveries of the physical scien- tist and industrial technologist radi- cally upset old social and economic arrangements and then come along as a kind of wrecking crew to clean up after the catastrophe and to suggest Ways of preventing its recurrence. That has proved too costly a procedure socially. From now on the physical scientists and the social scientists must work hand in hand. We must devise a new method of continuous co-operation between the physical scientists and the social scientists in all our research centers. The social scientists must be kept informed of what the physical scientists are up to, not after the physical scientists have completed their researches and work social and eco- nomic havoc with their results. but from the very beginning of the re- searches. If the chemists or physicists are on the trail of a new idea in 1934 that may prove workable in 1954, the social scientists should know it in 1934, not in 1954. And, through all the twen- ty years between 1934 and 1954, the social scientists should be considering ways and means of making this new idea help instead of hamstringing hu- manity if and when it becomes work- able. If we can invent such a method of sustained co-operation, we can shorten, by at least a decade, the lag between the swiftly changing proces- ses and the slowly changing policies of our national life, There are, in my judgment, the two major lines along which the universi- ties and research institutes can best help us to take full advantage of this economy of science, technology and plenty instead of 1unning away from it and taking a coward’s refuge in a pol- icy of repressing, restricting, and re- ducing our maximum productive capa- city. The machine has not betrayed us. We have betrayed the machine. Science and technology have given us the means by which we may emancipate the race from poverty, drudgery and insecurity. If we now prove incapable of using these means to the full, the verdict of history upon us will be that we were a people strangled by our own success. Glenn Frank. -—_—____2e-2->_____ Harvard is Hostile to the President’s Brain Trust Harvard University School of Busi- ness and the NRA have become en- gaged in a joint debate over the effect of the recovery program on the retail dry goods business. NRA charges that Harvard. in its annual report on dry goods conditions, does not give NRA any credit for the business recovery, but intimates that it has come in spite of the New Deal rather than because of it, Also it charges that Harvard has always been hostile to the NRA; that it isn’t in the President’s “brain trust.” Under a grant from the National Re- tail Dry Goods Association, the Har- vard Bureau of Business Research has for fourteen years conducted an an- nual study of department store and specialty store business. About 450 de- partment stores and seventy-five spe- cialty stores contributed to the com- pilation which appeared recently, and showed that the loss of $2.40 for $100 of sales in 1932 was turned into a profit of $1.80 per $100 of sales in 1933. The report said: “Improvement in the department store business in 1933 clearly was brought about in large part by the up- ward surge in prices, but this improve- ment was also, in considerable degree, attributable to lower expenses in com- parison with 1932. The reduction in the cost of doing business was partic- ularly impressive in view of the fact that during the latter part of 1933, payroll costs, which constitute almost one-half of the total cost of doing busi- ness, were increased to conform to the Persident’s re-employment agreement and the NRA code.” That started the argument. Through John Guernsey, who is in charge of the retail division of the Census of American Business, the NRA charges that Harvard fails to credit this im- provement to the recovery program “Retailers know and gladly admt,” says Mr. Guernsey, “that the substan- tial improvement in retail sales, which began in September and October, 1933. and which has continued month after month for almost nine months now without any sign of diminution, is attributed solely to the courageous re- covery program of which the NRA is a conspicuous part. “That retailers were right in sup- porting the NRA program to pay higher wages is proved by the Har- vard figures themselves. They show that in spite of increased pay rates and more employment, the total payroll cost for 450 department stores last year was actually two per cent less than the payroll cost for 1932, being $18.30 per $100 of sales in 1933 against $18.70 the previous year when there was no NRA and wages were substantially lower. The cost of doing business de- creased four per cent under NRA, from $39.50 in 1932 to $38.10 in 1933. “Thus retailers have gained by pay- ing higher wages, just as the Presi- dent contemplated in his program. Nor is there much to the wild yarns of in- creased prices. Prices have gone up some, of course, from the distress level of last summer. But the Harvard re- port shows that the average sale in 1933 was $1.88 against $1.90 in 1932. “Business men know that Harvard has been criticising the Administration ever since recovery began and do not take their comments seriously. Re- tailers will resent, however, this pal- pable attempt to promote their propa- ganda on the occasion of what is al- most an official retail report. They have no patience with such attempts and although they do not approve of some of the phases of recovery, they know that the outlook to-day is vastly different from what it was a year ago and are strong supporters of the Ad- ministration’s efforts on the whole.” ee Eighty Per Cent. Clause in Fire In- surance Policies In the writing of fire insurance for retail drug stores throughout the en- tire nation for the past twenty-seven years, we find that the largest number of druggists in fire protected areas have a co-insurance form attached to their fire insurance policies, We also find that numerous druggists do not under- stand the terms of the eighty per cent. co-insurance clause and that many druggists do not carry the proper amount of fire or tornado insurance to meet with the requirements of the co- insurance clause. The revaluation of the American dollar and the fact that this is the time of the year when your inventory should be completed makes this the appropri- ate time to check over the amounts of fire, tornado and other classes of in- surance carried. It is extremely important that you determine whether or not a co-insur- ance form is attached to your policies and to determine whether or not you Carry insurance equal to the amount required by the co-insurance form to the end that you will not be compelled to stand a portion of any partial losses which may be Sustained at any time. Very frequently insurance agents themselves are not fully familiar with this clause and, therefore, do not prop- erly advise the druggists as to its ad- vantages as well as to the precautions which must be taken in connection with the use of the co-insurance clause as part of the fire insurance policy. The co-insurance ( clause (also called “reduced rate contribution st, cP aeaa eagereeeres Se etl ame ANE Macon i create eagerness rere te July 4, 1934 clause”) is a rider attached to a policy on request of the assured, providing in brief: “This company shall not be liable for a greater proportion of any loss than the amount hereby insured bears to -__ per cent. of the actual cash value of the property at the time of the loss.” Fill in the blank with the figure 80 and you have the “80 per cent. clause.” Fill in the blank with 90 and you have “90 per cent. clause.” In various slightly different wording is used, but the effect is the same, The co-insurance mended because: states clause is recom- 1. Rate discrimination between the entire body of policyholders is re- moved by the general use of the co- insurance clause: 2. The assured thereby is obliged to purchase adequate insurance so that his creditors and his business have the advantage of full protection; and, 3. A substantial reduction in the reg- ular rate is granted to everyone who makes this clause a part of his insur- ance areas. policy, except in unprotected The rate reduction varies on account of the construction and measures for fire prevention, but the average is a 15 per cent rate reduction for the 80 per cent. clause and 20 per cent. rate reduction for the 90 per cent. clause on insurance covering stock of merchan- dise. That means that if your present rate is $12 per thousand without co- insurance, you would be entitled to a rate of $10.20 per thousand, if you adopted the 80 per cent. clause, or $9.60 per thousand if you adopted the 90 per cent, clause. Most policies bear the 80 per cent. clause. Following is an example of how this clause operates in case of a loss where the required amount of in- surance is carried: P -n-riy Incurence Loss Insurance Value Carried Sustained Paid $10,000 $ 8,000 $ 6,000 $ 6,000 10,000 8,000 8,000 8,000 10,000 8,000 9.000 8,000 It is in rare cases, however, that the property is burned completely and thus $8,000 insurance on $10,000 value is adequate and fully covers against con- tingencies. Moreover, it meets with the full requirements of the polcy bearing the 80 per cent. clause. take the case of where a merchant does not. carry enough insurance. He is penalized for such inadequacy, very often beyond his knowledge, as the following example will indicate: Pr-enorty Insur7nce Loss Value arried Sustained Paid $10,000 $ 7,000 $ 4,000 $ 3,500 Contrary to the first example illus- trated above, while the loss is $4,000, he receives only $3,500, in insurance, which is explained as follows: However, let us Insurance According to the 80 per cent. clause, on property valued at $10,000, he should carry $8,000 insurance. In ex- ample “B” he carries $1,000 less than he should and he thus becomes 2 con- tributor or a co-insurer to the extent of 1000/8000 or one-eighth of the loss. The loss sustained is $4,000. The mer- chant contributes oneeighth of this amount which is $500, and the Insur- ance Company pays only seven-eightl:s of the amount, which is $3,500. MICHIGAN The clause has no effect where the loss is total or equals 80 per cent. of the value, no matter whether the in- surance is greater or less than the percentage specified. In case of such a large loss, the insurance pays the entire loss but not exceeding the amount of the policy, as is shown in the following example: Property Insurance Loss Insurance Value Carried Sustained Paid $10,000 $6,000 $ 8000 § 6.000 In will be noted that the insurance is six-eighths of the amount of $8,000 agreed upon. But six-eighths of the loss amounts to $6,000. Accordingly, the insurance policy pays $6,000 or the full amount of the policy. In other words, the assured, under the 80 per cent. insurance clause, guar- antees to insure the property up to 80 per cent. of its actual cash value. I consider this clause a very important phase of fire insurance and am taking this opportunity to discuss it at length not so that the pharmacy operator may adequately cover him- self to comply with this clause, but that he may have a clear and intelligent understanding of the problems facing bin in the event of a fire loss. The much so iviportant thing is to carry the neces- sary amount of insurance in proportion to the value of the property or at least understand that failure to carry that amount will result in penalty to the as- sured on any fire damage resulting in less than a total loss. Please understand, however, that the co-insurance clause is not mandatory in your insurance policies and is only in- cluded at the option of the insured. A. M. Manlin. o> 2? >_____ Geods Sold cn Instalment Plan Retail merchants who advertise or offer for sale on the instalment plan merchandise, which may be bought at a discount for cash, without making it clear that there is a difference in the costs to the buyer, will be regarded as violat- ing the ‘inaccurate advertising” provision of the retail code, ac- cording to a ruling by Division Administrator Robert Houston announced June 27. The ruling followed considera- tion of representations that cer- tain merchants have been adver- tising that no extra charge is made when articles are bought on the instalment plan and, at the same time, selling at a lower price for cash. Following is the text of the Ad- ministration’s interpretation: “It chall be an unfair trade practice under Article IX, Section | of the code for a retailer to advertise or offer for sale any merchandise with a statement or representation that the merchan- dise may be purchased on any deferred payment plan, of what- ever nature, without charge for such deferred payment, interest, services, privilege, or other com- parable designation, when in fact discounts from quoted or marked prices are given on_ identical goods sold for cash and prices for payment are quoted, marked, or made available for identical mer- chandise, at the time the same is offered for sale.”’ TRADESMAN New NRA Setup The proposed appointment of an Assistant NRA Administrator for field administration coincides with the entrance of NRA into the second phase of code adminis- tration recently alluded to by President Roosevelt. Under this new official there will be placed the forty-eight state compliance officers, the compli- ance division in Washington, and a new office, probably to be called the code authority administration office. This action will centralize the receipt of all complaints of what- ever nature which come to NRA, and will place the responsibility for follow up on this one official. Of the two categories of com- plaints received by NRA, one is of code violation, the other of code maladministration. The former is handled jointly by the compliance division and the code authority. The latter is dealt with by division and deputy adminis- trators who usually refer them to the Administration members for comment and action since if code -aladministration exists it is prob- ably primarily the fault of the code authority. ->~——> _ Executive Order Stirs Confusion Industries are enquiring of the National Recovery Administra- tion as to where they stand under the Executive order of President Roosevelt absolving bidders on Government contracts of code violations when quoting up to 15 per cent. under filed prices. It is learned that this order does not apply to lumber code prices since the code of that industry specifically authorizes only mini- mum prices, established for cost 9, eas Marbles Base Balls Picnic Supplies White Wash Heads Turpentine Grand Rapids Rubber Balls Golf Supplies Playground Balls Seed-Disinfectants Bathing Supplies Soda Fountain Supplies Varnishes Brushing Lacquer Aa Sundries Now on Display in Our Sample Room. Come look them over. a Hazeltine & Perkins Drug Co. protection, it being said that these now return less than the costs of production. Consequently there will be no change in the price pol- icy of this industry, its leaders as- sert. The grocery industry is seeking to learn whether the Executive or- der affects the wholesalers’ code and, if so, how does it operate in respect of the loss limitation pro- vision. The question is also raised whether a wholesaler who may bid 15 per cent. below invoice or replacement cost, with the 2 per cent. markup included, must also thereafter sell to private buyers on the same basis. —_+~- + —__ Contractors’ Complaint on Prices The Administration in effect is seen ‘‘calling’’ contractors who, in submitting identical bids on Gov- ernment requirements, contend they are precluded from ‘“‘doing better” by reason of having filed open prices with their respective code authorities or other ap- proved agency. By executive order, President Roosevelt has moved to relieve such bidders from a_ technical code violation by permitting a tol- erance of 15 per cent. under such filed prices in the seeking of Gov- ernment business coincident with the reporting of such prices to the price control agency immediately following the opening of the bid. There is another aspect of this in that compaints also have been received where manufacturers de- siring Government business have resorted to such tactics to the chagrin of their competitors who preferred to stand fast behind filed price:. Cement and steel are said to be among the chief items in question. Jacks Tennis Supplies Shelf Papers Insecticides Goggles Waxed Papers Paint Brushes Kalsomine Brushes Enamels Etc., Etc. Michigan ue MOVEMENTS OF MERCHANTS. Cedar—The State Bank of Cedar has increased its capital from $20,000 to $40,000. Bay City—The Weber Oil Co. has increased its capital stock from $60,000 to $108,000. Lansing—The Lansing Brewing Co. has increased its capital from $150,000 to $250,000. Saline—The Saline Savings Bank has increased its capital from $25,000 to $45,000. Clare—The Citizens State Bank has increased its capital stock from $35,000 to $82,000. Bay City—The Bay City Bank has increased its capital stock from $300,- 000 to $400,000. Caro—The State Savings Bank has decreased its capital stock from $75,- 000 to $50,000. Big Rapids—The Citizens State Bank has increased its capital from $50.000 to $75,000. Fenton—The State Savings Bank has increased its capital stock from $50,000 to $90,000, Tecumseh — The 3ank has increased its $50,000 to $100,000. Detroit—Jerry Miller & Co. has changed its name to the Cadillac Candy & Tobacco Co., Inc. Detroit—The Auto Tool & Die, Inc., has been organized with a capital stock of $2,000, all paid in. Detroit—The Penfold Wines, Inc., has changed its name to the Australia- America Corporation. Marcellus—The State Bank of Mar- cellus has increased its capital stock from $20,000 to $25,000. Hart—The Oceana County Savings Bank has increased its capital stock from $40,000 to $60,000. Ishpeming — The Michigan Gold Mines, Inc., has increased its capital from $50,000 to $100,000. Detroit—The Union Wine and Spirit Products Co. has changed its name to the Union Distilleries Co. Lansing—The National Grain Co. has been organized with a capital stock of $5,000, all paid in. Saginaw—The Clare & Beaverton Lumber Co. has decreased its capital stock from $40,000 to $15,000. St. Clair—The Commercial and Sav- ings Bank has increased its capital stock from $75,000 to $225,000. Traverse City—The Traverse City Canning Co. has increased its capital stock from $100,000 to $122,500. Sault Ste. Marie—The Central Sav- ings Bank has increased its capital stock from $100,000 to $200,000. Fremont—The Fremont Co. has changed its name to the Fre- mont Co-operative Creamery Co. Detroit—The Von Kozlow Distiller- ies, Inc., has changed its name to the North American Distilleries, Inc. Detroit—The Morse Tool Co. has been organized with a capital stock of $50,000 of which $1,000 is paid in. Detroit—The Aircraft Upholstering Co. has been organized with a capital stock of $50,000, of which $13,500 is paid’ in. United Savings captial from Creamery . MICHIGAN Detroit—The H. W. Reeves Lumber Co. has been organized with a capital stock of $5,000, of which $1,000 is paid in. Port Huron—The Treleaven Coal Co., Inc., has been organized with a capital stock of $25,000, of which $20,000 is paid in. Jackson—The McConkey-Keehm Motor Co. has been organized with a capital stock of $50,000, of which $30,000 is paid in. Dearbor—The Gerhardy Coal & Supply Co. has been organized to deal in fuels. The capital stock is $10,000, of which $5,700 is paid in, Detroit—The Alaska Smoked Fish Co. has been organized to engage in the sale of fish at wholesale. The cap- ital stock is $10,000, all paid in. Galien—The Galien State Bank has consolidated with the Buchanan State Bank. The new institution will be known as the Galien-Buchanan State Bank. Detroit—The Lincoln Square Gro- cery Co. has been organized to engage in the food business at 6020 West Fort street. The capital stock is $3,000, all paid in. Detroit—The Springwells Depart- ment Store, Inc., has been organized to engage in business at 8,650 and 52,674 Michigan avene, with $5,000 capital stock, all paid in. Petoskey—Ray March and wife have re-opened and redecorated the old Blackstone restaurant, Park avenue and Lake street, conducted last sum- mer by Louis Juilleret. This business will be known in the future as the “March In.” Holland—John Donald French, busi. ness manager of the Holland Evening Sentinel, died last Saturday. He was the son of Charles A. French, prin- cipal owner and manager of the news- paper. Deceased was a person of high aspirations and noble ambitions and was rapidly making his way to a com- manding position in his chosen pro- fession. He leaves a wife and two children, father, mother, two brothers and three sisters. Detroit—Remodeling of the shoe de. partment at B. Siegel & Co. is sched- uled to start in a few weeks. The de- partment, on the fifth floor, is one of the oldest in the city among the larger downtown stores. Siegel’s is believed to occupy the oldest original structure of any large downtown department store, and the department will be trans- formed from its present dignified, somewhat old-fashioned style, to a strictly modernistic manner. Quincy—According to plans an- nounced this week, two new business establishments will open in Quincy in the near future. M. J. Southworth and son, Leo, plan to open a grocery in the store formerly occupied by the East End market. Mr. and Mrs. Wal- lace Bayne and daughter, Myrna, are planning to open a combined. dry clean- ing and barber shop in the store for- merly occupied by the dry cleaning business of Leo Southworth. Bangor—The Sympathy of the fra- ternity will go out to P. W. Porter, Jr., whose wife died in Borgess hospital, Kalamazoo, June 27, after a critical TRADESMAN ilness of three weeks with septic poisoning. Decased was 37 years old and gave birth to a child June 2, who lived only a week. Mrs. Porter leaves four children—two boys and two girls —ranging in age from 3% to 9 years. The funeral was held on the farm home of the deceased near Bangor, at 12:30 Friday. Brief services were sub- sequently held at the Sheridan chapel in Bangor. Interment occurred late in the afternoon in Oakhill cemetery, Grand Rapids. Marshall—It has been reported here that plans are under way for the estab- lishment of another factory in Marshall although nothing definite has been an- nounced. Information available is to the effect that the plant will be estab- lished in the Simon and Leedle build- ing, long vacant. The plant will turn out castings to be used in the manu- facture of certain automobiles, similar to the work turned out by the Flint Foundry Co. when it was located in Marshall. William Berent of Flint, for- mer superintendent of the Flint foun- dry when it was here, is the man who is carrying on the negotiations. He is understood to have interested several Marshall people in the enterprise. Marquette—Pendill’s drug store. Front and Washington streets, this month is celebrating its fiftieth anni- versary. A_ special display shows many interesting articles, in- cluding the first Prescriptions filled, old show window globes, colored bot- tles and an old iron mortar used fifty years ago in mixing pills and a pill cut- ter which is still in use after a half- century. The store was established in June, 1884, by A. E. Brown and the first prescription was filled on June 6 of that year. The store was called Brown's pharmacy. Several years later it was purchased by Frank Pendill, who conducted it for a few years, and then sold it to his brother, Louis Pen- dill. In May, 1909, Leonard E. Gensi- ver went to work in the store as a reg- istered pharmacist and in 1915 went into partnership with Mr. Pendill, In 1923 Mr. Pendill retired and Mr. Gen- siver has since owned the store and op- erated it under the original name. More than a half-million prescriptions have been filled during the past fiity years. window Cadillac—Bert Curtis, one of the old- est business men in Cadillac. again em- barks in business for himself, pur- chasing the Cadillac Meat & Sausage Co.’s market from Frank Spieker. A year ago last spring Frank Spieker and John Novak of Grand Rapids, pur- chased the Ernst market, and opened a wholesale business as well as retail under above name, Spieker a few months ago buying out his partner’s interests. Mr. Curtis has been in the meat and grocery business about forty years, entering the retail field in Cad- illac in 1910 when he bought the Ru- pers Brothers market, later selling out to Albert Rupers, and opening the Gotha market. This he later sold to Boersma & Sons, going into the meat and grocery business a few years ago where the closed theatre building op- posite the gas company is located. He continued there until the opening days July 4, 1934 of the past depression when he so! out and for three years has had chary of the meat department of Widegren’s Market. His location will b¢ known as the Curtis Market. Petoskey—A business deal was con summated last week whereby the Ecke! Drug Co. became the sole property Mrs. Margaret McCarthy and son Leonard and Ralph. The firm wa established about thirty-five years ag by George Eckel and Charles My, Carthy. George Reycraft and Frank French purchasing an interest in the store and later John Reycraft bought Mr. French’s interest. At the death of George Reycraft his sister, Mrs. Ella Beattie, and John Reycraft inherited George Reycraft’s interest. The trans. action just completed gave the Rey- craft family interests to the McCar- thys. The personnel of the store con sists of Ralph McCarthy, Wm. F. Donaldson, both of whom have been in the employ of the store for the past ten years. Rolland Brockway, who ha; been in the store twenty years, and Kenneth Gaumer, employed five years. Morton Brockway is a recent employ: There will be no change in the per to Mr. McCarthy Leonard McCarthy just received an M. A. degree from the University of Michigan and will continue to secure a Ph.D. degree in oriental history. He makes his home in Lyons, Ohio, and will not take an active part in the store. The store maintains three registered pharmacists and specializes in the prescription department. new sonnel, according Manufacturing Matters Holland—The Gil-boat Co. has been organized to manufacture boats with a capital stock of $10,000, of which $2,750 is paid in, Detroit—The American Alloys Cor- poration has been organized to manu- facture metal alloys. The capital stock is $7,500, all paid in. Toy Volume Gains After Lull The lull in toy buying which fol- lowed the NRA action with respect to elimination of price-fixing clauses in new codes has been succeeded by re- newed purchasing. Volume of orders placed thus far this year ranges from 10 to 15 per cent. ahead, according to figures given by James L. Fri, execu- tive director of the Toy Manufacturers of the U.S. A. Prices are being firmly held as are the differentials between chain and other retail buyers. Higher levels were foreseen as the industry moves into active Fall buying. >> Guild Combats August Sales Where a majority of retailers in a community have indicated they will not conduct August coat sales, the Fashion Originators’ Guild of America will seek the co-operation of the remaining mer- chants to eliminate these events. Let- ters announcing this will be sent to retailers throughout the country affil- iated with the guild within the next few days. Where the sales have been banned, the guild will make available a series of co-operative advertisements, stressing style and quality appeal. —_~>2+>____ : In these times justice, like the job- less, is made to weep. | i | r July 4, 1934 MICHIGAN TRADESMAN Essential Features of the Grocery Staples Sugar—Jobbers now hold cane gran- ulated at 5.34 and beet sugar at 5.12. Tea—The first hands tea market has been quiet during the week. Some of the primary markets showed small ad- vances, but the reason the demand is not very heavy in this country is that the trade seem to believe that prices are too high. There is no consumer resistance yet in tea, but there seems to be some trade resistance on account of price. Consumptive demand for tea is good, Coffee—The influence which pro- duced some strength in future Rio and Santos, green and in a large way, dur- ing the week has disappeared and the market has shown sharp declines since the last report. As a matter of fact, the market dropped about 1 cent a pound, owing to financial conditions in Brazil. The decline was checked some- what later in the week and at the pres- ent moment is fairly steady. Actual Rio and Santos, green and in a large way, was materially affected by the situation in futures and showed a con- siderable decline throughout the list. The demand is poor. In sympathy mild coffee shows declines. The jobbing market on roasted coffee has as yet not generally responded to the decline in green, but will have to do so sooner or later if the decline is continued. Consumptive demand for coffee is sat- isfactory. Canned Fruit—Naturally there is much speculation on what new cling peaches will open at on August 1. In spite of the reports which have been current in the trade some packers are convinced that the opening prices will be above code levels. If so it is too bad in a way that this fact is not estab- lished before August 1 since it should stimulate buying of spot peaches. Prices on new pack California pears have been quoted on the basis of $1.75 for choice. The Government’s report that on the basis of June 15 crop con- dition showing probable 1934 pack of 14,500,000 cases is believed far too high by some packers and brokers, who feel the Government has overestimated the indicated tonnage. It is pointed out that the pack in Wisconsin has been estimated by some experienced hands as only 4,000,000 cases. Canned Vegetables—The market has been menaced during the week by an- other industrial factor, namely the ship- ping strike on the Western coast. This has already caused some shortage in various lines in Eastern markets, There has been some little relief from the drought in the Middle West and also in New York state. This will help the situation as to peas, beans and toma- toes. Not enough, however, to make up the crop deficiency. Practically no change has occurred in tomatoes, corn or peas during the week. Southern peas are still very firm. Canned Fish—Canned fish shows no change for the week. Some packers named, new prices on new Alaska red salmon on a basis somewhat less than the trade expected, but buying has not been enthusiastic. Salmon situation is still firm. Other tinned fish unchanged for the week. Dried Fruit—The market is rather routine, as usual for this season of the year, but a fairly good replacement. business is looked for throughout the summer, with prices bound to work up to a replacement level where they are now below it. California prunes, as an example, have not yet reached profitable levels in relation to the prune pool's prices, and since that organiza- tion will function for the coming year, this disparity must sooner or later dis- appear. Prunes are comparatively cheap, considering the advances made in apricots and some of the minor items, and the chief difficulty seems to be that the trade have not yet accustomed themselves to new levels. The various imported dried fruits are going to be considerably higher in the coming year, too. Such items as smyrna figs, dates, citron and other peels have been quo- ted in such a way as to indicate higher costs to the consumer. In anticipation of this, spot stocks of these goods have been working upward in sympathy with the higher futures market. Cal- ifornia reports things in good shape. First hands would naturally like to see Santa Clara prunes in distributing channels which are still below re- placement costs cleaned up, as no ade- quate test of the higher levels can be had until it is demonstrated that these goods can be moved into consumption on the pool’s present price setup. New pack apricots which recently gave a little are steadier now. Raisins have held their recent advance well, Beans and Peas—The demand for dried beans continues very poor with prices irregular, although without any sharp decline for the week. The same is to be said of dried peas. Nuts—The nut market is rather quiet. Brazils continue to show strength, particularly in South Amer- ican, and prices for shipment advanced a little again. The other nuts show little or no change. New crop Span- ish almonds are being quoted just slightly higher than last season’s prices, Filberts are rather steady in Turkey and Italy. There was no par- ticular demand for nuts in the shell.. Olives—Firmness remains outstand- ing on the local olive marke tbut im- porters have not advanced quotations any further. However, supplies of many grades are light here. With little offer- ing on the local olive market but im- strong. As has been mentioned be- fore new crop olives will not be coming onto this market until early next year. Demand continues steady. Pickles—Changes in the pickle situ- ation are not noticed. Dills and salt stock hold firm at previous levels. The same is true of the sweet varieties. Demand, however, is light. Rice—As further reports have reach- ed here from Lake Charles, it becomes clear that the new or extended control program on rice assumes a steady sta- bilized market for the coming season, Fixed prices on rough rice, plus set conversion charges which may be higher this year, place the millers’ costs substantially the same. The new and old marketing agreements permit no interlude between them. So, the rice program for the coming year ap- pears to be definitely established and the signature of the Secretary of Ag- riculture is looked for as a foregone conclusion, As to conditions here, there is every indication of increased business in spot rice as the full nature of what has been done in Lake Charles is realized, for it is expected that clean rice prices will advance later under higher conversion charges. Salt Fish—The situation in mackerel and other salt fish is unchanged; still very dull. No change in prices. Sauerkraut—Leading sellers of kraut continue to offer at unchanged levels. The demand is limited. No extensive forward offerings of new kraut are re- ported. Most sellers await more definite news on the cabbage crop now in the making. Syrup and Molasses — Demand for sugar syrup is fair. Prices are un- changed and the situation is steady. Compound syrup moving better on ac- count of certainty of an advance within a few days. The finer grades of molas- ses are quiet with prices steady. — +... Review of the Produce Market Alligator Pears—19c each. Apples — Yellow Transparent, $2.75 per bu. Asparagus—75c per doz. for home grown. Bananas—Sc per lb, Butter—Creamery, 25c for cartons, and 24'%c for tubs. Cabbage—Home grown 80c per bu. Cantaloupes—$3.50 for standards and $4 for jumbos. Carrots—50c per dozen bunches of Calif., or $2.75 per case; home grown, 15¢ per dozen bunches. Cauliflower—$2 per crate for Cali- fornia. Celery—Home grown 40c per dozen bunches. Cherries—85c for sour and $1.75 for sweet — both 16 qt. Cucumbers—Home grown hot house command 60 @ 70c, according to size. Dried Beans — Michigan Jobbers pay as follows for hand picked at ship- ping stations: C. H. P. from farmer____________ $2.05 Light Red Kidney from farmer__ 3.75 Dark Red Kidney from farmer__ 4.50 Eggs—Jobbers pay 10c per lb. for all clean receipts. They sell as follows: Fancy, fresh white___--___________ 18c Candied, fresh 17¢c Candled, large pullets_........____ 14c ee 12c Egg Plant—$2.50 per crate. Garlic—12c per lb. Green Beans—$1.50 per bu. Green Corn—35c per dozen for Ala- bama stock. Green Onions—20c per dozen. Green Peas—$1.50 per bu. for home grown. Green Peppers—30c per dozen. Honey Dew Melons—$2 per case. Lemons—The price is as follows: SOU Sonkistt $6.75 O00 Sunkist: 2 6.75 Si Hed Ba 6.25 ON) Red Bal 6.25 Limes—25c per dozen. Lettuce — In good demand on the following basis: California, 4s and 5s, crate____-__ $4.50 Eeaf, out-door. 04 Onions—Texas Bermudas, $1.75 for Yellow, and $2 for White. Oranges—Fancy Sunkist California Navels are mow sold as follows: 5 ON $5.00 Me. 5.00 Ae 5.00 Ae 5.00 Bee 4.75 MO a ee ee 4.75 Te a, 4.75 Red Ball, 50c per box less. Florida Valencias in 45 lb. bags are held as follows: ohh CL $2.00 (25 2.00 ie. LC 2.00 Parsley—30c per doz. for hot house. Potatoes — 50c per bu.; new from Florida $1.75 per 100 Ibs. Poultry—Wilson & Company pay as follows: Heavy Howls 1G a foe. 9c eer. LLC 8c PUgKeYS 14c eee 7c Radishes—8c per dozen bunches for home grown. Raspberries—$2.25 for 24 pint crate, Red; Black, $1.15 for same quantity. Rhubarb—50c per bu. of 30 Ibs. for home grown. Spinach — 35c per bushel for home grown. Summer Squash — 5c per lb. Sweet Potatoes — Jerseys from In- diana, $2.25 per bu. Tomatoes—Hot house, 70c per 8 Ib. basket. Turnips—50c per dozen. Veal Calves — Wilson & Company pay as follows: Watermelons—30c @ 45c. Wax Beans—Home grown, $1.25 per bushel. se? s_____ House-to-House Selling Ban Certain western cities, including Santa Rosa, California, have recently adopted ordinances to curb house-to- house selling. No ordinary licensing restrictions, these regulations are de- signed in such manner as to provide no discrimination between business callers. California courts are reported as hav- ing ruled that municipalities have the police power “to protect the health, convenience and comfort of their citi- zens,” and that door-to-door canvas- sing may be banned under this fran- chise. —_~>-.—____ Dozen-Lot Cost Upheld Retail druggists, it is expected, will be allowed to keep the dozen-lot unit for cost computation, an amendment written into their code April 8 and re- viewed in public hearing June 7-8. Opposition to the cost clause was sur- prisingly weak, most of it coming from representatives of Mid-Western drug companies of known price-slash- ing proclivities. Consensus of opinion brought out at the hearing is that the present definition of cost is ‘simple, workable, effective, easy to enforce.” Ambiguity Plus Customer —I see this medicine is good for man or beast. Druggist—Yes. Customer—Gimme a bottle. I believe this is the right combination to help my husband. _———_- 2 “What fools we mortals be”—bring- ing on one depression after another. MUTUAL INSURANCE (Fire and Life) A N A New Deal in Insurance \Ve commend to our readers the edi- torial quoted below, which was culled from the house organ of the Philadel- phia branch of the L. M. C. It was written by James T. Haviland, Eastern manager. “In this process of business evolution which we have experienced and in which we are still immersed, those in- stitutions and those business organiza- tions which have persevered with suc- cess and are emerging to greater achievements have been operated upon a firm basis of merit. The days of “easy money,” the era when influence or connections played the leading part in determining insurance decisions are passing. “There have been too many disclos- ures in high places, too many evidences of personal gain at the expense of sound management for favoritism to continue to hold its place against the dictates of good judgment. “Every day on every hand we see more definite evidence that the public is determined to buy its insurance on the basis of merit and cost. “The return of better days and the improvement in economic conditions vill not change the public mind on this problem. The very fundamentals of the New Deal philosophy in business call for a strict accounting by execu- tives and managers on the basis of economy and not favoritism. “The ‘spoils system’ for all business practices including the disposition of insurance is doomed. Each year we will see this trend in a more definite institution that basis of form. No insurance operate on a fifty cents of every continues to spending nearly dollar for expenses can meet the urgent demands of economy. “Mutual insurance is the old, tried, tested plan of coverage. Stock insur- ance arose to meet the need of expan- sionists. It flourished in an era of na- tional growth when no one stopped to count the cost. It reached its height when a large proportion of its manag- ers turned aside from the ordinary pur- suits of underwriting to follow the gyrations of the stock exchanges and to contribute to the boom and to suf- fer from the resulting collapse. “Mutual not led astray by the inflated prosperity and has generally insurance was will-of-the-wisp of an experienced very few of the painful processes of deflation. “As an institution it stands with an unimpaired record and financial struc- ture economically able to assume the obligations and meet the opportunities for underwriting the casualty and fire insurance needs of American business.” > 2-2 Why Does Lightning Strike Some Things and Not Others? We know that if lightning can choose between a lightning-rod and the rest of the roof of a house, it will go down the rod. We know that it will always choose metallic things rather than any others. And it will strike a tree rather MICHIGAN than the ground beside the tree. In every case the principle is the same. It is that electricity will always choose the easiest path. The usual way of saying this is that it takes the path of least resistance, and the principle is true of many things besides electricity. It is often true of ourselves. Thus, if the electric current can pass to earth through a tree it will do so, because a tree helps its passage downward. That is why we should never stand under a tree in a thunder- storm. But, for choice, electricity will always pass through anything made of metal, for the whole group of metals are good conductors of electricity—the best there are. We do not, know why metals conduct it so well, but we do know that this is the reason why light- ning chooses them. So a lightning-rod will house if the rod runs down into the earth. If the lower part of the rod has corroded away before it reaches the earth, as sometimes happens, the electricity will be discharged into the house, for it attracts the lightning to protect a the house. ——_-~.__. — Again We are Facing the Lightning Season Protection against lightning is im- portant, as lightning is one of the more frequent causes of fire in farm build- ings, in most parts of the United States. No farm building of substantial value should be considered actually completed until it has a standard sys- tem of protection against lightning and is also so insured. Individuals can still be found who question the value of protection from lightning by means of insurance and by means of a system of well grounded conductors or by the proper grounding of substantial metal roofs, but the evidence of the value of these protections leave no reasonable room for doubt. Insurance is indispensable to the in- dividual who is wise and far seeing. In- surance means protection. Protection against those elements beyond man’s power. The honest insured will of course use all means of fire prevention and fire protection available and then, if in spite of all his precautions light- ning sears its way into his property he will be justly proud to have had the foresight to be mutually protected. 2+. ____ Making Life Longer By Control of Diet youth, for which followers The fountain of Ponce de Leon and _ his quested through the Florida wilder- ness, may be discovered for the human race by learning the relation of diet to health. In the laboratory of Professor C. M. McCay of the New York State College of Agriculture it has been found pos- sible to increase the span of life of white rats to twice that of rats living under normal conditions. The oldest of the rats in the group used in the experiment has attained an age which is equal to 140 years in a human being. Professor McCay attributes his suc- cess in increasing the longevity of the experimental animals to the fact that they were underfed during the first two years of their lives. Thus far most of the information re- garding the relation of food to long life TRADESMAN for the other mammals All animals is available rather than for a man. grow, pass through an active middle life, and a final stage of old age similar to that of humans. Since the life of other mammals is generally shorter than human life, the animals can be studied through the different periods of their existence in cages and laboratories where controlled feeding is possible, The longevity of greatly according to the species. Age which individual animals will reach, says Professor McCay, is determined by their living conditions and their inheritance. Thus a turtle can live 100 times as long as a rat. The inheritance factor is extremely important in determining the length of life. The child whose parents and grandparents lived to ripe old age has a far better chance of doing the same than the child who comes from parents who die young. — ee The President’s Appointments Appointments by the President to the Securities and Exchange and the Communication Commis- sions, and to the National Labor Relations Board, are likely to be received as fairly satisfactory in business quarters. Many will feel they promise reasonably conserv- animals varies ative administration of the new measures under which they are created. The labor body will be re- ceived best. The President evi- dently sought to escape the charge made against the previous admin- July 4, 1934 istration of Section 7a of the NIRA by appointing no individ- ual connected with existing labor unions. The Securities and Exchange Commission will have one indi- vidual with practical financial ex- perience on it, but he is slated to be the chairman. This will assure consideration, it is felt, of the practical aspects of problems on which the new commission will be called upon to rule. James A. Moffett’s appoint- ment as Housing Administrator was favorably received also. Bank Deposit Velocity Credit inflation so far has been entirely a matter of expanding bank deposits, rather than _in- creasing velocity of turnover, cur- rent banking statistics indicate. The Federal Reserve Board re- ports the aggregate of debits to individual account for the week ended June 27 to be 3 per cent. below the total of the correspond- ing week of the year before. The decline in velocity took place entirely in the New York district, however, and thus re- flects primarily a contraction in speculative activity. Outside of New York city, debits increased by I1 per cent. over the 1933 level. This increase was not in proportion with the rise in the vol- ume of deposits, however. —_~++-___ Take pride in having a good rating in the estimation of your own community. FIRE ance—and don’t neglect it! protection is constant protection! 444 PINE ST. Fire, like Death, is feared chiefly because it can descend so suddenly, without regard for persons or plans. Your house may escape even a scorched shingle for twenty-five years—and then, without warning, be burned to the ground in a couple hours, Your only protection is insur- Our records show a pitiable number of cases where fires have been reported a few days after a lapse of insur- ance—too late to benefit from past years’ payments. The only sure FINNISH MUTUAL FIRE INSURANCE CO. is not ““Choosey”’ CALUMET SAFEGUARD YOUR PROPERTY with MUTUAL INSURANCE FIRE and WIND COVERAGE Commercial and Residential Properties SAVINGS—25% to 3714% M. B. & M. Legal Reserve Co. MICHIGAN BANKERS & MERCHANTS MUTUAL FIRE INSURANCE COMPANY FREMONT, { MICHIGAN ‘ oe 9 opens Suly 4, 1934 Review of Nargus By N. Y. Commer- cial Bulletin National conventions follow a famil- lar pattern as a rule, recalling Mark Twain’s boyhood diary. You remember his first recording: “Monday—Got up, washed, went. to bed: Tuesday, ditto,” and so on for the rest of the book. The NARGUS sessions of this week at Chicago yielded no surprises. There were a few excellent addresses: a rich offering of resolutions, and no end of admiring talks back and forth. In brief, it was a successful National con- vention. Plenty of wordage, nice, honeyed words which made it plain that the speakers loved one another, the organ- ization under the fresh regime, and the jolly old world’s fair, everybody ex- cept General Johnson. That prince of geniality himself, Secretary-Manager H. C. Petersen, kindly summarized the net accomplish- ments of the four-day meetings at the Hotel Sherman when we asked him. “The convention — this year, ex- plained Mr. Petersen unhesitatingly, “has developed a better, a more effec- tive co-operative among the , spirit members.’ Any observer can back up Mr. Peter- sen’s remark of this co-operative spirit. Those boos directed at General Johnson illustrate this sentiment. This high moment in the week’s proceedings was perhaps the expression for the need of a suitable villain for the occa- sion, a lightning rod for the pent-up doubt and bewilderment of these 5,000 men toward the lassitude and utter lack of ability in the NRA organiza- tion. But the co-operative spirit, as Mr. Petersen terms it, was present. Charles H. Janssen’s spirited defense of the General could not still the boos or dis- pel the doubts of the assembly; not even the charmer of these meetings for many years could mollify the retailers. Circulating among the delegates for days gleaned for one reporter this im- pression: the retailers are not as op- posed to the NRA program as several hot-head, demagogic speakers would have had us believe; they are deeply distrustful of various suspicious per- sonalities in Washington. That is not a personal opinion; it is the essence of the sentiment voiced by hundreds, pos- sibly thousands. Such signals of dis- trust should caution Washington. If there is uncertainty about the con- crete accomplishments of the NAR- GUS convention, there is unanimity on one point: The exhibits of the various manufac- turers and others reached the peak of excellence this year at the Hotel Sher- man. Such liberality of support, providing this colorful oasis amid the sea of words, was worthy, we thought, of more judicious thought on the part of the convention’s management. One evening the exhibits were closed at the hour of 5 p.m., Chicago daylight saving; at all times some of the best exhibits were more or less isolated on account of the absence of some easily con- trived events which might have at- tracted the throngs. Another lack of finesse was the ab- sence of courteous arrangements for MICHIGAN members of the press; the news dig- gers were hard put to extract authen- tic information. As an invariable rule, National or- ganizations are eager, almost above other things, to broadcast their ideas, their deeds, so as to enlist wider sup- port and sympathy. At best, a National organization of any size is an unwieldy body, function- ing smoothly only when it is articulate and can keep in living contact with its members constantly, not merely once a year at a convention. Inflexibility of this type invariably builds up strong State groups which can meet frequent- ly and communicate freely, Next year, we are assured, the NAR- GUS officials responsible for the situ- ation will be politer toward the press. On the brighter side, we can report that the technical arrangements were admirable. Chairman of Transportation Frank W. Meyer of Standard Brands, tireless, kindly, thoughtful, and his staff moved the 10,000 visitors with effortless skill —the longest special train allowed by law (seventeen coaches) transporting the Easterners alone. Mrs. Kiefer, sleepless, alert and gracious, handled the registration and other details with precision. Last year, bye the bye, there were 2,600 paid registrations, so we were in- formed. This year marked a record, with 4,000, which means that the NAR- GUS—and perhaps the world’s fair— drew 10,000 visitors to Chicago. —__~>~-<-___ Seek Hollow Ware Orders With current demand for low price silver flatware at the best levels in sev- eral years, manufacturers of silverware will concentrate selling efforts on hol- low ware lines in the coming months. Orders for flatware are sufficient in volume to keep the majority of facto- ries operating two shifts daily to meet the demand, but calls for sterling and silver-plated hollow ware have dropped off sharply in the last month. Factory departments devoted to producing hol- low ware are working only two or three days each week and only a few have any advance business on hand. —_>+.___ Order Lamps for Promotions Manufacturers of lamps and lamp shades did an active business in sales merchandise as retail buyers of home furnishings continued to shop through local showrooms for goods to be used in midsummer promotions. The call centered mainly on lamps to retail around $5, with deliveries wanted to start the first of the coming month. Silk, rayon, and rayon and silk shades were emphasized in the orders for shades. They were wanted for pro- motional purposes in retail ranges of $1 to $5. ><+ > Velvets Face Good Fall Season Velvets are facing an extremely good Fall season, with a broad distri- bution of yardage not only to the dress trade but also for millinery and acces- sory use. Orders for transparent and novelty cut velvets and types designed to shed water have been good, with both the higher grade and medium price dress houses incorporating varied velvet numbers in their lines. —~--<-<.__ To control others, control self. TRADESMAN MEN OF MARK M. Harold Saur, of A. H, Saur & Sons, Kent City M. Harold Saur, a graduate of the University of member of A. H. Saur & Sons mercan- tile establishment, at Kent City, has announced his candidacy for the office of state senator on the Republican ticket from the 17th district. Michigan and active Mr. Saur was born Nov. 21, 1892, on a farm two miles South of Kent City. He was confirmed from Mamrelund Lutheran church in 1907. He eradu- ated from Kent City school in 1911 and from Ann Arbor high school in 1912. He graduated with the A. B. degree from the University of Michigan in 1916, having specialized in business ad- ministration. He served with Com- pany I, 3lst Michigan Infantry, from Ann Arbor, on the Mexican border in 1916. He saw active service both in France and Russia during the kaiser’s M. Harold Saur war. He is a former village president of Kent City. He is superintendent of Mamrelund church Sunday school and has been for the past twelve years. Mr. Saur was married July 4, 1917, to Miss Meyle Kellerman, of Boise, Idaho. Mrs. Saur is a graduate of the Boise Conservatory of Music. Four children have joined the family circle— Marcia, 11; Arlene, 9; Melvin, 7; and Robert, 5. The three older children play the piano with spirit and cor- rectness. The family reside in their own home in Kent City and summers occupy a cottage on Round Lake, five miles East of town. Mr. Saur owns up to one hobby, which is fishing for blue gills and black bass. Mr. Saur is past master of Casnovia Lodge, No. 461, F. & A. M., and past commander of Evans-Swanson Post, No. 123, American Legion. He was the first president of the Kent City Commercial Club. Mr. Saur has all the qualifications necessary to make a good member of “3 the state senate. He has given unself- ishly of his time to promote matters which concern public welfare, not only of his community but of the county, state and Nation. He has always been interested in the political affairs of the state as they concern the Republican party. His father, A. A. identified with all progressive enter- Saur, has been prises of schools, church and commun- ity for more than a quarter of a cen- tury. Mr. Harold Saur has proven to everyone who knows him that he is sincere, loyal and honest: a man who has given unselfishly of his time in his efforts to promote matters which con- cern public welfare, not only of his community, but of the county, state and Nation. Mr. Saur is a strong supporter of Frank DD. dacy for governor and is contributing Fitzgerald and his candi- to the limit of his ability toward the Republican party's program, both state and Natiorial. have already been circulated in several A number of petitions townships in his behalf. a Order Swim Suits for Holiday Heavy buying by retailers who are stocking bathing suits for holiday pro- motion has cut sharply into stocks of wholesalers in New York and in all other sections of the country. The ac- tive buying has not as yet been re- flected in any increase in reorders to manufacturers because jobbers’ stocks are sufficient to take care of imme- diate needs. Re-orders are looked for immediately after the holiday, when wholesalers will begin to replace low- price lines of suits for distribution to retailers through July. The present season, manufacturers said, has been notable both for the heavy volume of business and for the popularity of suits retailing around $5. ~~.» __ Beret Gaining in Millinery The beret is now beginning to make a striking comeback in millinery, fol- lowing the marked attention given to large shapes for the Spring and early Summer. Retailers feel that the beret will sell well in the period directly ahead and also figure strongly for the Fall season, pointing out that many smaller women have found the large shapes unsuitable for them. The new berets tend to flat or dise effects and are being developed mainly in benga- line, velvet and _ velveteen fabrics. White fabric hats continue to be re- ordered, —_++____ Linoleum Price Rise Soon Price advances approximating 10 per cent. will be announced on practically all line of plain and battleship linole- ums this week, according to reports circulating in the floor coverings mar- ket. Although comment on the reports, buyers are producers refuse to convinced that the changes will be an- nounced and put into effect before the seasonal floor coverings opening here July 9. At present the majority of producers in the felt base branch of the hard-surface floor coverings indus- try are releasing drop patterns at dis- counts of approximately 10 per cent, —_»~->____ To be truly charitable one must give of himself as well as his riches. REDUCING DRESS RETURNS Estimating that the fair trade prac- tice rules have resulted in an average reduction of 25 per cent. in dress re- turns this season, representing an an- nual saving to the dress industry of between $20,000,000 and $25,000,000, Ralph Abercrombie, chairman of the fair trade practice division of the Dress Code Authority, described the oper- ation of the rules in the two months which have elapsed since they became effective. A total of 14,000 cases, about 98 per cent. of them dealing with merchan- dise returns, has been handled by the division in this period, Mr. Abercrom- bie said. The number of cases has grown from an initial figure of twenty daily until a peak of 1,018 cases was reached last Monday. The volume of cases gives striking evidence of the determination of the dress industry to observe the other code rules, he de- clared. While some objection was voiced by retailers to certain phases of the can- cellation provision of the code, Mr. Abercrombie praised highly the sup- port retailers are giving the rules, which were set up after the retailers’ views had been determined in a mutual conference. About three out of five cases, he pointed out, are being settled in favor of the retailers. “It must be emphasized as the ap- plication of the fair trade practice rules continues,” Mr. Abercrombie | said, “that their successful operation bears out the intent of the dress industry, represented by the fair trade practice division of the Code Authority, to be completely fair in the interpretations and decisions made. Our idea of fair trade rules are the rules which work both ways. It is fully recognized that confidence of the retailer in the integ- rity of the industry is a vital factor in the effectiveness of the plan. “The factor is being stressed in the functioning of a corps of impartial rep- resentatives who handle these cases and who, in fact, constitute an effective filtering agency for the handling of re- turns and other case for the protection of both manufacturer and retailer. In- stead of policing, a job of selling and promoting co-operation is being done so that retailers and manufacturers will call on us to settle disputes by a most efficient procedure and have confidence in the fairness of the outcome.” Of the 14,000 cases received in the two months’ period, Mr. Abercrombie continued, about 2,000 cases are cur- rently pending. He pointed out that only in sixty-five of the 12,000 cases completed was no co-operation received from the retailer. He added that in only 250 disputes was no satisfactory agreement reached. Owing to their marked predomi- nance, he went on to explain, the re- turned goods cases are handled by the corps of thirty-five impartial represen- tatives, who visit daily an assigned list of manufacturers who figure in the cases. More than half of the returns after the five days’ grace period, Mr. Aber- combie added, were found legitimate, because of hidden defects or damage. A total of 1,706 represented returns found to be in violation of the code MICHIGAN provisions. The remainder of these cases involved breach of contract or other causes which were quickly ad- justed. COTTON TEXTILE CODE The first code under the NRA was signed by the cotton-textle industry, which last week celebrated the first year of operation under that agree- ment. George A. Sloan, president of the Cotton-Textile Institute, paid trib- ute to General Johnson as NRA ad- ministrator in reciting the year’s achievements. In turn, the industry must have felt very proud of its own leader, Mr. Sloan, whose keen thinking, energy and charm have overcome so many difficulties in bringing up one of the most substandard industries in the country to a position of honor. For the immediate future of NRA, Mr. Sloan had six recommendations, based upon the concrete experience of twelve months’ operation. He would give full responsibility to qualified code authorities along with proper admin- istrative power, subject to government veto only when that power is abused. He would remove the fear of further experimentation with basic code poli- cies, require rigid code enforcement and prompt government action upon wage and hour violations and avoid any compromise of principle under threat of employers or employes. Finally, he asks for better recognition of the “partnership” relation between industry and the government. All of these appear to be sound sug- gestions with the exception possibly of what Mr. Sloan wishes to write in concerning experimentation with the codes. Price-fixing provisions, for in- stance, are very much to the fore just now, and the goverment evidently wishes to have them eliminated. Other arbitrary regulations have been in- cluded in codes and should be dropped also. Whether these are basic changes or not, it would be just as well, so it seems, to bring them about before they cause real trouble. STOCK TAKING SUGGESTED The half-year mark is stock-taking time in many business. Borrowing this idea, President Roosevelt in his radio speech last Thursday night asked each citizen to judge National recovery by the plain factors of his own individual situation compared with last year. There were indications that the coun- try at large had been following just that plan and was little disturbed by the cries of lost liberties, regimenta- tion, etc., which have emanated from “those whose toes have been stepped upon,” in the words of the President. In business quarters there has been a distinct tendency to dispute recov- ery, although the facts were just the other way around. Propaganda of one kind or another was probably respon- sible for this attitude, which is now happily fading out. The only substantial objection of- fered now is the cost of the recovery effort and the future tax bill. The defi- cit of nearly four billions for the fiscal year just closed has been seized upon as ammunition by those who oppose the New Deal upon principle, which is usually a selfish one. No explanation of this huge figure is given or that a TRADESMAN large portion of it is out at interest and repayable. Of business itself as it rounds the half-way point of the year, it can be said that the six months’ gain has been about 10 per cent. This represents the rise in the index over that period. The advance in wholesale commodity prices has amounted to about the same per- centage. Perhaps a million and a half workers have rejoined the ranks of the em- ployed since the beginning of the year. That is the best report of any. HOSIERY MILLS DEFIANT While the Southern cotton mills with the remainder of their industry were feeling very good over their year under the code, the Harriman Hosiery Mills, in a city of that section which has profited so greatly under the NRA, shut down in order to force the Gov- ernment to restore their Blue Eagle, taken from them two months ago be- cause of their violation of the labor provisions of the Recovery act. Some of the recent developments in this case make it appear as though the anti-union elements have seized upon it as a means of capitalizing their at- tack upon labor organization. Both the employers and the labor interests upon the National labor board called for the withdrawal of the Blue Eagle from this company. The workers’ del- egates who went to Washington were arrested upon their return home. Last week a non-union representative was kidnapped by an armed force composed of union sluggers and run out of town. The threat of the mills to close down was not taken very seriously in the industry, in view of the fact that clos- ings are normal at this time for in- ventory purposes. Just now the busi- ness has a surplus problem upon its hands and has already decided through its code authority to authorize two weeks’ holiday within this or next month. Therefore, there was at least that much insincere about the threat that was served upon General Johnson for his wicked pesecution of this com- pany. In the meantime, these mills, which a few months ago, according to report, were going to get along all right with- out the Blue Eagle, find that buyers for wholesalers and stores require this insignia. ee DRY GOODS CONDITIONS Some improvement in retail trade was reported here last week before the temperature soared to a point that made shopping uncomfortable. Sea- sonal apparel and vacation and travel were features of the usual before-the- Fourth business. Lower prices are un- doubtedly helping to move up volume. Locally, it is estimated that depart- ment-store sales in the month just closed will show a slight gain over those for the same month last year. Reports from other parts of the country are somewhat spotty. Condi- tions in the drought regions are not as bad as it was feared a short while back they might be. On the other hand the labor trouble on the Coast has been affecting business adversely in a wide area, The South and Southwest con- tinue to send in the best reports. For the difficult Summer that looms July 4, 1934 ahead, because of the slackening now in comparison with the boom of a year ago, retailers are pinning their hopes upon “closer” prices. So-called “inter- mediate” lines have been developed to tempt public buying, and initial tests of these values have proved satisfac- tory. Manufacturers in the wholesale mer- chandise markets have been busy mak- ing up supplies of the sort described for August promotions, and some early Fall buying has also appeared. Apparel lines for the new season started open- ing last week and, besides new style features, were marked by the revival of old price lines which had been dropped for a year or longer. EEE PRICE SENSE BACK Coincident with another Government move against price-fixing in codes, the steel industry decided at the close of the week to see what lower prices might do toward raising sales volume in the third quarter. The April ad- vances were cut in half in automobile steels by a leading company, which will probably be followed by others. In their actual order, it was the mer- chandise lines that found prices had gotten too high last Spring. This dis- covery was made right after Easter, when the wholesale and retail demand dropped off sharply. Price revisions were made in many lines. Then the automobile manufacturers were offered similar evidence that their price advances had slowed down sales. They let this slackening run-along for a while, but within recent weeks have issued lower quotations. Consumer demand has responded in spite of the lateness of the season. Next come the construction interests of the country, who are finally awake to the fact that they could keep mark- ing their prices up forever without scaring much business out of prospec- tive home builders. Now with the Housing Act signed some concessions are promised in materials and labor. Price sanity seems to be on the way back in major fields of enterprise. Mar- kets may be expanded in this way and the larger volume will cut costs, per- mitting wage rates to remain undis- turbed. SE EEE An electrical goods manufacturer has a travelling electrical circus touring dealers’ stores in the East, exhibiting such novelties as “Cy Clops,” a one- eyed electrical fireman which spots a fire, then puts it out; a small auto which obeys spoken commands; an electrical man, ete. Truck and trailer, equipped with loud speakers, carry the exhibit between towns, stage morning parades to announce afternoon and evening shows. Dealers finance the exhibit, find it builds store traffic in off-season periods, asennad Emerson was profoundly right when he said that nothing great is ever ac- complished without enthusiasm. If a task is done halfheartedly, unenthusi- astically, it bears the sure stamp of mediocrity. Enthusiasm is a quality that grows with progress. The more wisely a man thinks and the more in- formation he acquires, the more he gains in his capacity for work and the enjoyment of life. July 4, 1934 MICHIGAN TRADESMAN 9 OUT AROUND Things Seen and Heard on a Week End Trip Last Saturday was the first time for four months that Mrs. Stowe was able to accompany me, as she had done tor years, on our Out Around trip. She is still a little slow in getting around with the assistance of crutches, but is gaining as rapidly as could be expected. Our first stop was at Fruitport, where we found the people of the vil- lage busily engaged in preparing for the celebration, July 11, over the com- pletion of the new cement road from Nunica to Mona Lake. The Fruitport Improvement Association has assumed charge of the undertaking. Among the worthwhile accomplishments of the or- ganization is the rejuvenation of the magnetic mineral spring which was the chief attraction of the far famed Pomona Hotel fifty years ago. At Muskegon I was told that Robert D. Smith, who was the promoter of the National Distillers Corporation, was serving a term in Jackson prison for selling stock in his corporation be- fore it had been approved by the Mich- igan Securities Commission, Much improvement has been made in the remarkable oval at Muskegon since the suspension of activity last fall. I believe it is now the largest affair of the kind in the state. Arrangements for the entertainment of visitors are perfect to the last degree. There is an interesting exhibit at the dock at Muskegon in the shape of submarine No. 45 ,which is no longer in active service with the Federal war department. To those who are in sym- pathy with submarine warfare it is said to be a sight worth seeing. Muskegon certainly looks prosperous on the face of things. There are still too many vacant factories and not enough house building to keep pace with the demand for fine homes, but in many ways there are indications of progressiveness and improvement. The movement of merchandise by water transportation is very noticeable. The Mart appears to be gaining ground in the estimation of those who make use of its various functions. At North Muskegon I found the ce- ment cut off in US 31 from the bridge to the main line a couple of miles North of North Muskegon completed, but not yet open to the public. I should judge the new road would re- duce the distance between North Mus- kegon and Whitehali at least a mile, perhaps more, The cut off will never interest me very much, because with two such ap- preciative merchants as Buwalda 3ros. and A. Kvarnberg on the top of the hill, it would be an injustice for me to refrain from calling on them when- ever I go within two miles of their stores. The Tradesman has been going to the Buwalda store ever since the first issue—nearly fifty-one years ago. The store was then conducted by Nelson & Hall, whose customers were almost wholly confined to workers in the saw- mills. Six years later the store passed into the hands of J. E. Balkema, who conducted it about twenty years. For the past twenty-five years it has been owned and conducted by the Buwalda Bros., who have made it one of the features of a city which is six miles long and a half mile wide. Mr. Balkema, who has resided in Washington state for the past quarter of a century, is now in Michigan for the summer as the guest of a cousin in Grand Haven, The scenic highway from North Muskegon to White Lake was never more beautiful than it is this season. The effect of the recent windstorm is plainly seen in the destruction of many fine trees. Traces of destruction have been removed as much as possible. A blockhouse has been erected on the high hill at the highest point on the highway, which is reached by conven- ient steps. Before the rains which Nature has been favoring us with during the past two weeks it certainly looked as though crops were doomed. The rains have changed the appearance of things remarkably. Corn is now hip high in many fields and potatoes and beans look very thrifty. The country has again assumed a glorious appearance. An interesting feature of the coming election is now very much in evidence. A friend drops in on you, pulls up his chair and confidentially informs you that he has just learned that his friends are playing up his name for sheriff or treasurer or the legislature. He has really given the matter very little thought, because he heard of the situ- ation only yesterday” and he would like your unbiased opinion of the mat ter. Of course, you smile serenely and assure your friend without a moment’s hesitation that he is just the man for the place and that he ought to be elect- ed by an overwhelming vote. Montague business men keenly feel the need of a dry goods store. It strikes me this would be a good field for a moderately sized stock. The store formerly occupied by Mrs. Potter is still vacant. One of singular omissions which are sometimes made by metropolitan news- papers is afforded by the action of the Detroit Free Press last week in failing to print a line about the annual con- vention of the Michigan State Pharma- ceutical Association at Pontiac. Be- cause I was interested in the organi- zation through personal attendance at the first eighteen conventions held by the Association, I was naturally anxi- ous to learn what was being done from day to day, but could not get the least possible information from the Free Press. The oleo refund is now a thing of the past. It goes down in history as one of the most disgraceful episodes in the history of the country, With the plain reading of the original law there was no warrant for Uncle Sam to collect untold and unaccounted millions from those who handled only nut and vegetable neither of which were covered by the original oleo tax. When the collection of the tax was finally found to be without process of law, Uncle Sam made no oleo, effort to return any of the money thus collected and retained unlawfully. The Government had the name of every merchant who had been mulcted un- lawfully and could easily have notified him to make application for the return of the money, but it permitted the per- sons it had defrauded to find out for themselves the error of the Govern- ment. Their only opportunity for as- sistance for the recovery of the money came through the discovery of existing conditions by the editor of the Trades- man. While I was president of the Grand Rapids Board of Trade—now Associa- tion of Commerce—we purchased 10,- 000 or 20,000 American elm trees in France and distributed them among the school children of Grand Rapids at one cent apiece. The little trees were about as large as a lead pencil. I think we paid two cents apiece for the trees, including transportation and duty. American tree growers were then charging five cents apiece for such trees in 10,000 lots. Every child who purchased a tree agreed to plant it carefully and give it special personal attention, with a view to creating a large shade tree. I have such a tree in the yard of my city home. It was planted by Miss Helen Conger, daugh- ter of E, D. Conger, the banker. It is a lusty tree, fully eight inches in diam- eter. I see such trees in many lots in this city. I would be interested in ascertaining how many of those trees are in existence at this time. Can any local reader of the Tradesman suggest how this information can be obtained? Prejudice and _ persecution have again shown a horny hand in connec- tion with the indictment of Joseph H. Brewer and twelve other gentlemen for alleged violation of the banking law. The culmination was reached by a special grand jury in Detroit last Friday when indictments were handed down against thirteen men, most of whom stand very high in banking cir- cles. Readers of the Tradesman fully un- derstand what I think of the grand jury system, because I regard it as atrocious, abominable, cowardly and un-American. Any creation of law which enables a grand jury to indict a man after hearing only one side of the question at issue is unworthy of a place in a free country. Mr. Brewer has suffered and suffered long in meet- ing and undertaking to surmount un- fortunate and unfavorable business conditions, but nothing he has been forced to face is more contemptible than the action of the Detroit grand jury. I confidently expect to see him emerge from his present predicament unscathed and unharmed. My only re- gret is that people can be found who will consent to act in the wretched capacity a grand juror is compelled to assume. According to Department of State certificate of title records, 77,046 more automobile sales were made in Mich- igan in 1934 up to June 15 than were made during the same period in 1933. Records show that this year up to June 15, a total of 65,232 certificates of title were issued on new automobiles as compared with 38,535 certificates of title for the same period last year. The biggest increase in business, however, is shown in the demand for titles for used This year 177,734 titles were issued as compared with 127,385 titles in 1933. proved conditions is reflected in the cars. Another evidence of im- decrease in the number of reposses- Until June 15, 1934, a total of 4.237 repossessed cars was reported sions. to the department as compared with 5,914 for the same period a year ago. There were 72,210 more automobiles licensed for use on Michigan highways on June 1 than on the same date in 1933, Department of State statistics dis- close. The increase is still more re- markable when it is seen that this year there were 6,671 more licensed than on the same date in 1932. The reduction in weight tax rates is responsible for a large share of the increase, although records show that many cars have been licensed in 1934 that were not used for several years previous. On June 1, 1934, a total of 602,671 automobiles had been licensed as compared with 489,894 on the same date in 1933. Because of the reduc- tion in weight tax rates, however, the demand for the two-payment plan stickers decreased slightly from 322,- 628 on June 1, 1933, to 302,061 on the same day this year. Statistics for trucks, trailers and motorcycles show that the demand for both full-year plates and for two-payment stickers in- creased slightly this year over 1933. automobiles The increasing number of code pro- which definitely favor chain store buying operations constitute a most serious threat to the existence of independent merchants all over the country, and many of them are now beginning a campaign that, with the visions aid of Congressmen and Senators, will eventually bring these rules before the Federal Trade Commission for hear- ing, John Block, leading resident buyer in New York, remarked recently. Until the code provisions became effective, Mr. Block pointed out the smaller independent stores were able to combine their purchases through a single agency and have such orders accepted as a group purchase, thus en- abling the individual merchant to own and offer more staple and highly com- petitive merchandise on a price basis comparable with the chain stores, Mr. Block estimated that the volume of such purchases in the New York mar- ket aggregated some $50,000,000 at cost. Many stores, he said, will be forced to give up the handling of mer- chandise that is also carried by the chain stores. “While it is true that the volume of group purchases of a buying office is (Continued on page 23) FINANCIAL A Time of Unexampled Prosperity The above is a heading of an article written by Washington Irving a hun- dred years ago. I read this story over and over again in early manhood and knew it by heart and thought I would be warned by it in business life, but Benjamin Frank- lin said “Fools never learn except by and I am getting my ex- perience. This story is so good for all of us that I am repeating it here: In the course of a voyage from Eng- land, I once fell in with a convoy of merchant ships, bound for the West Indies. The weather was uncommonly bland and the ships vied with each other in spreading sail to catch a light, favor- able breeze, until their hulls were al- most hidden beneath a cloud of can- vass. The breeze went down with the . experience,’ sun and his last yellow rays shone upon a thousand sails, idly flapping against the masts. exulted in the beauty of the scene and augured a prosperous voyage, but the veteran master of the ship shook his head, and pronounced this halcyon calm a “weather-breeder.” And so it proved. A storm burst forth in the night; the sea roared and raged; and when the day broke, I beheld the gal- lant convoy scattered in every direc- tion; some dismasted, others scudding under bare poles and many firing sig- nals of distress. I have since been occasionally re- minded of this scene by those calm, sunny seasons in the commercial world which are known by the name of “times of unexampled prosperity.” They are the sure weather-breeders of traffic. Every now and then the world is visited by one of these delusive sea- sons when the “credit system,” as it is called, expands to full luxuriance: everybody trusts everybody; a bad debt is a thing unheard of; the broad way to certain and sudden wealth lies plain and open; and men are tempted to dash forward boldly from the facility of borrowing. _ Promissory notes, interchanged be- tween scheming individuals are liber- ally discounted at the banks, which be- come so many mints to coin words into cash; and as the supply of words is inexhaustible, it may readily be sup- posed what a vast amount of promis- capital is soon in circulation. Everyone now talks in thousands: nothing is heard but gigantic opera- tions in trade; great purchases and sales of real property and immense sums made at every transfer. All, to be sure, as yet exists in promise; but the believer in promises calculates the aggregate as solid capital and falls back in amazement at the amount of public wealth, the “unexampled state of public prosperity.” sory Now is the time for speculative and dreaming or designing men. They re- late their dreams and projects to the ignorant and credulous, dazzle them with golden visions, and set them mad- dening after shadows. The example of one stimulates another; speculation rises On speculation; bubble rises on bubble; everyone helps with his breath to swell the windy superstructure and admires and wonders at the magnitude eA a MS ant MICHIGAN of the inflation he has contributed to produce, Speculation is the romance of trade and casts contempt upon all its sober realities. It renders the stock jobber a magician and the exchange a region of enchantment. It elevates the merchant into a kind of knight errant or rather a commercial Quixote. The slow but sure gains of snug percentage become despicable in his eyes: no “operation” is thought worthy of attention which does not double or treble the invest- ment. No business is worth following which does not promise an immense fortune. As he sits musing over his ledger, with pen behind his ear, he is like La Mancha’s hero in his study, dreaming over his books of chivalry. His dusty counting house fades before his eyes or changes into a Spanish mine; he gropes after diamonds or dives after pearls. The subterranean garden of Aladdin is nothing to the realms of wealth which break upon his imagination. Could this delusion always last the life of a merchant would indeed be a golden dream; but it is a short as it is brilliant. Let but a doubt enter and the “season of unexampled prosperity” is at an end. The coinage of words is suddenly curtailed: the promissory capital begins to vanish into smoke: a panic succeeds and the whole super- structure, built upon credit and reared by speculation, crumbles to the ground, leaving scarcely a wreck behind. “It is such stuff as dreams are made of.” When a man of business, there- fore, hears on every side rumors of fortunes suddenly acquired: when he finds banks liberal and brokers busy; when he sees adventurers flush with paper capital, and full of scheme and enterprise; when he perceives a greater disposition to buy than to sell: when trade overflows its accustomed chan- nels and deluges the country; when he hears of new regions of commercial adventure; of distant marts and distant mines swallowing merchandise and dis- gorging gold; when he finds joint stock companies of all kinds forming; rai!- roads, canals and locomotive engines springing up on every side; when idlers suddenly become men of business, and dash into the game of commerce as the gambler would into the hazards of the faro-table; when he beholds the streets glittering with new equipages, palaces conjured up by the magic of specula- tion; tradesmen flushed with sudden success and vying with each other in ostentious expense; in a word, when he hears the whole community joining in the theme of “unexampled prosper- ity,” let him look upon the whole as a ‘weather-breeder,” and prepare for the impending storm. As I re-read the above and review the events of the past five years, I feel as though I were like the merchant ships which carried full sail and when the hurricane came, was not prepared to meet it. Thus reflecting, I am re- minded of a story William H. Ander- son once told me, and I might say here that Mr. Anderson was like the wise captain who saw the storm coming and took in sail in time. However, here is the story that Mr. Anderson told me: In an early day in Kent county, there were no railroads and the mail was a a TRADESMAN carried by contractors. The contractor in the upper part of Kent county was an old farmer and one night in the Fall a little farmer girl was riding home with him. He grew a little bit sentimental with the farmer girl and she went home and told an irate father, who had the old fellow arrested. Of course, there was a great deal of talk throughout the country for miles around and finally they had a trial. It was a Roman holiday. The country people gathered in the little courtroom from long distances. Mr. Anderson’s father was on the jury and when they retired and went into the matter, pro and con, they finally decided that while the old fellow was obviously guilty, he had a family of grown-up daughters and had been punished enough, and so they brought in a verdict of not guilty. The old man defendant, sitting on the front seat, the moment the words were out of the mouth of the foreman of the jury, jumped up and said, “I am much obliged, boys. You won’t get me in that scrape again, I promise you that.” Claude Hamilton. ——_-2s2-2>_____ “Washington Preferred and Commen” This country of ours always has to go crazy about something—war, pro- hibition, Florida, suffrage, Wall street or what next. Now the United States is Washington crazy. Almost everyone to-day is as crazy to get something out of Washington as woman's they were to get something out of Wall street only eight short years ago. Business men want farmers want aid, college professors want loans, power, labor unions want recognition, contractors want contracts, manufac- turers want orders, lawyers want tax cases, people want jobs and the rest want doles. Furthermore, “Washington Preferr- ed and Common” have not yet reach- ed their “highs.” The administration is caught in a whirlpool and cannot now stop. The Washington boom still has some years more to go. It is true that more conservatives are now seen calling at the White House:—but the President is still headed to the left. The need of caution is heard in the cloakrooms at the Capitol but Con- gressmen still vote to ignore the Ten Commandments and the Multiplication Table. Furthermore, the very men who wrecked the banks, flooded the country with worthless stocks and messed up the real estate situation are This of itself indicates what is ahead. Pros- perity and employment will continue to be handicapped by the attempt to reform and recover at the same time. Both are needful, but both cannot be brought about simultaneously, even if under the direction of honest men. Of course, there will be an end to the Washington boom—as there was to the Florida boom and the Wall street boom. “Washington Preferred and Common” are sure some day to crash. Congress can ignor but cannot suspend the Law of Action and Re- «ction. Therefore, wise are those whe are “paddling their own canoes”—-rath- er than leaning upon Washington for loans, tariffs, codes, jobs or any other kind of aid. Remember the easy money now seeking government jobs. July 4, 1934 you once tried to make in the stock market, when you saw your friends dipping in;—but you were too late. Do not make the same mistake now in the Washington boom. Furthermore, if you have money, you had better “Tay low” in a cyclone cellar until this storm blows over. “What can bring about such a change?”, you ask. Well, many things could happen which would cause “Washington Preferred and Common” to fall and hit the floor. For instance, people may naturally come to their senses when the AAA, the CCC, the FERA, the CWA, etc., all turn out to be IOU’s. Or, the Government appropriations may continue to so in- crease that the national credit becomes impaired. Or, there may develop an- other war, great crop failures, or some other catastrophe. Or, President Roosevelt might die. Only a heart beat stands between him and an ultra-con- servative Vice President. Labor may go far, and bring about a dictatorship. Or, the entire structure may collapse A’'l Issues CONSUMERS POWFR PREFERRED BOUGHT SOLD QUOTED Your Inquiries Solicited ROGER VERSEPUT & CO. Investment Bankers—Brokers 813-816 MICHIGAN TRUST BLDG. GRAND RAPIDS Phone 8-1217 ——_ ne | x» West Michigan's oldest and largest bank solicits your account on the basis of sound poli- cles and many helpful services . . OLD KENT BANK 2 Downtown Offices 12 Community Offices SELECTED INVESTMENTS State of Michigan Highways ________ 446s due 1942 City of Muskegon Schoo} District____5%s due 1956 Berrien County Highways ___ 44s due 1938 City of Grand Rapids Generalg __. i, 4%s due 1942 City of Grand Rapids BenoGle: 2, 4¥%s due 1938 J. H. Petter & Co. BANKERS Grand Rapids Muskegon Phone 94-417 Phone 23-496 ~ %e July 4, 1934 of its own weight due to lack of en- forcement. We do not know what will happen; but we do know that come to an end.’ Hence we clients prepared therefor. As we warn- ed you in 1928 about the Wall Street market, we now warn you about the Washington market. Avoid getting de- pendent upon crutches, because some day you will lose them. In 1928 Wash- ington was unpopular and Wall Street was booming. Now Wall Street is un- popular and Washington is booming. But both then and now covetousness is found to be the root of our troubles. This results in unequal opportunities. History repeats itself. The wheels of progress and punishment are con- stantly turning. In the meantime, di- versify your investments very broadly, and work betterment—with more equal opportunities—spiritually, physically, intellectually and materially for all. “all good things want for race You can do no more. Babson. (Copyrighted, 1934) —__+-+—___—_ Let Us Look Facts in the Face In the latter part of 1930 and 1931, all banks and other financial institu- tions were not only tiative, tional on their own ini- but—spurred on by the Na- Administration—trying to stem the forces of distrust and despair with the hope that the panic and depression would pass away as other panics and depressions had. The ordinary commercial bank is an institution vance money to those who are in need which is supposed to ad- of funds in their business; merchants to lay in a stock of goods until in the course of business it is liquidated by sale, manufacturers to put in raw ma- terial and labor until their output is finally turned into money. When money of depositors is being withdrawn, there are two methods for a bank to carry on. One is to call in these loans and the other is to borrow from the Federal Reserve Bank. The first method increases the forces of dis- trust, causes liquidation of goods and securities and increases the depression. The Grand Rapids National Bank adopted the second or broader method of doing, rather than causing the hard- ship to their customers. In June of 1931 they had borrowed from the Federal Reserve Bank $500,000. The regular sworn public statement was due on June 30. In times of dis- trust when statements are published, business men, depositors and in partic- ular other banks, scan the statements of their competitors very closely and the item “money borrowed” has always been looked upon with suspicion, and unjustly, because as a matter of fact the whole deposit account, whether ordinary deposits, certificates of de- posit or savings accounts, is money borrowed. The result is that a whis- per goes around that such and such a bank is borrowing a large amount of money and distrust increases. Banks endeavor to eliminate such an item particularly at the time of a quarterly statement. MICHIGAN In the particular case which has brought on an indictment of Mr. 3rewer and Mr. Crimmins, we under- stand that they had nothing whatever to do with the handling of this ac- count, but it was handled from Detroit the Guard- The Controller eliminate these banks had plenty of money and the others were borrowing. He therefore notified the Grand Rapids National Bank that he had paid up their loan to the Federal Reserve Bank and asked them to send him a certificate of deposit for $500,000, which showed in their “certificates of deposit” instead of in by their holding company, ian Detroit Company. endeavoring to items and Was some of these account, borrowed.” “money The matter would appear a perfectly and it 15 to be legitimate transac- unfortunate that with all the troubles and anguish which tion very we are having at the present time an- other burden should be added to our citizens, particularly to Mr. has already been com- pelled to eat the bread of bitterness for happenings for which he was not responsible. About ten good Brewer, who ago Mr. Brewer disposed his public utility interests for about two and one-half dollars. He might adopted the lazy course and invested his money in Government bonds, and traveled, but it was not in him to do this. He wa: loyal to the town of his adoption and put in all of his money for the benefit of his beloved city. He instru- mental in erecting our most beautiful years million have Was building, the Grand Rapids Trust Company building; he resurrected the Pantlind and Morton Hotels which were slipping; and he built up the most beautiful golf course in the country. Years ago, a friend of mine said to me, “There are two things the world does not forgive. One is success and the other is failure.’ In ordinary times perhaps it would not hurt to follow that rule, but in these times we would be’ more worthy of ourselves if we look at the plain facts as they are and en- deavor all around to help those who are struggling to keep our beloved city as live a town as it has been in the past. Claude Hamilton. —_2+3+.____ Predict a Quiet Summer for Business Business reports are still mixed, but in general seasonal recessions. Steel production slumped sharply to 44.7 per cent., which was anticipated. Electric power output is still high, but the week to week gain is decreasing. Automobile production was off to some extent. Bank which is considered a good index of business activity, declined continually in May and have failed to show the usual in- crease in June. Loans to private busi- ness is at the lowest figure of the de- pression. Last year the trend upward. show debits, was The President’s speech was largely a humiliating defense of the acts passed by Congress to facilitate his social pro- gram and emphasize more the long- term social benefits to accrue from the program. Few defiinite statements on present problems troubling business were made. Also, recent acts indicate TRADESMAN that the social program, its cost, will be carried through. Frazier-Lemke farm torium mortgage and the employment and pension proved by the President. ment of members of the new ties Exchange Commission, measure railroad regardless of The mofra- un- bill were ap- The appoint- Securi- new Com- munications Commission and the new National Labor Relations Board brought to attention again these reg- ulatory measures. Many financial writers are predict- ing a quiet summer of business, seasonal decline greater than usual. OE. Petter. —__ + <---_- Proceedings of the Bankruptcy Court June 22 On this sity the ____ Changing Needs of the Meat Consumer “Meat research, the main purpose of which is to adapt the products of the live stock grower to the changing needs of the consumer, has, within the past ten years, vielded more definite results than in all previous history,” stated Dr, E, W, Sheets of the Bureau MICHIGAN of Animal Industry, U. S. Department of Agriculture, in an address at the annual session of the National Live Stock and Meat Board. Dr. Sheets, who is also secretary of the National Co-operative Meat In- vestigations, declared that it was a far cry from the days when the prim- itive hunter discovered that there was a difference in the tenderness of the meat from different portions of his kill to the present period in which a score or more colleges and universities and the U. S. Department of Agriculture are carrying on a systematic co-ordi- nated meat research program, “Real progress is being made,” stated the speaker, “in determining the influence of sex of animal, age, feed- ing rations and other factors upon the quality and palatability of the meat produced. In an age when industry is striving as never before for efficiency, it may be of interest to note that wide differences are being found in the effi- ciency of meat animals. For example, pigs from four different litters handled identically in our studies showed that gains per animal varied from less than half a pound to nearly one and one-half pounds daily. What we are aiming for is to produce pure strains that will make cheaper gains and at the same time vield a higher quality of meat.” “The co-operative meat investiga- tions studies are carried out in a very intensive manner, according to Dr. Sheets. The meat obtained from the experimental animals is roasted and then scored by expert judges for aroma, flavor, tenderness, juiciness, etc. Special new types of apparatus have been designed to facilitate this work. In this way, valuable informa- tion is being assembled and correlated. “Meat cookery studies are an impor- tant phase of this work,’ said Dr. Sheets. “As a result of such studies, age-old ideas are being discarded by the nation’s housewives. Meat cookery is fast becoming a more exact science. The program now under way on a wide front is not only of interest and value to the live-stock and meat industry, but it intimately concerns all of us. —__+> 2. ____ Index of Employment in the Meat In- dustry The index of employment in the meat packing, meat wholesaling and sausage manufacturing industry is 17 per cent. higher and the index of pay- roll totals of that industry is 15 per cent. higher than the similar indexes of all manufacturing industries, William H. Gausselin, Secretary of the Pack- ers and Sausage Manufacturers Asso- ciation of Chicago, and Chairman of the Committee on Sausage of the In- stitute of American Meat Packers dis- closed at a hearing in Washnigton be- fore the National Recovery Admini- stration on a proposed code of fair competition for the sausage products and prepared meats industry. Mr. Gausselin stated that “according to the most recent figures of the De- partment of Labor, those for May, 1934, the index of employment in the meat industry stood at 96.7 as com- pared with 82.4 for the average of all manufacturing industries. The index of payroll totals in the meat industry stood at 80.7 as compared with only 67.1 for all manufacturing industries.” TRADESMAN Railroad Rate Outook The present trend of railway earnings, and the failure of Con- gress to enact new railroad legis- lation at the last session of Con- gress again defer expectations of any material reduction in railroad rate levels. A material cut in transporta- tion costs would make possible a sharing of the resulting larger in- come between security holders and shippers, the latter obtaining lower rates. With railroad operating costs raised by higher prices of mate- rials, a restoration of the wage cut and heavier maintenance, how- ever, and with traffic prospects clouded, only a drastic applica- tion of co-ordination or consolida- tion plans would be likely to ef- fect major increases in earnings in the near future. Congress has taken no action on recommenda- tions of Federal Co-ordinator Eastman to facilitate this. The third quarter of the cur- rent year is likely to prove the worst for many industries, both in respect of volume of activity and profits. nN Extension of New Deal Business men generally are re- ported to see in President Roose- velt’s radio address a promi+.—____ Greater Responsibility Given Richberg Donald R. Richberg, general counsel of the National Recovery Administration, has been given full responsibility for the proper functioning of the New Deal pro- gram during the absence of Pres- dent Roosevelt. Observers here see Richberg circuited around National Recov- ery Administrator Johnson into a most important position where he will have great influence in deal- ing with NRA matters as they af- fect the general recovery pro- gram. He has been made executive secretarv of the President's Emer- gency Council, executive director of the National Emergency Coun- cil and director of the newly cre- ated Industrial Emergency Com- mittee, to serve until September 1, with indications that his ap- pointment may be extended. Some observers see in the cre- ation of the industrial emergency committee, the effectual entry of the Recovery Administration into its second phase, which is that looking to building up a policy to become operative with the end of the NRA period. ——_~..-~>——___ Whether one considers the world round, flat, square or crooked depends on the part he has bumped against. —_—_. ep. Chain stores dominate farm product prices as well as their own. 18 DRUGS Michigan Board of Pharmacy President—Earl Durham, Corunna. Vice-President—M. N. Henry, Lowell Other members of the Board—Norman Weess, Evart; Frank T. Gillespie, St. Joseph; Victor C. Piaskowski, Detroit. Director—E. J. Parr, Lansing. Examination Sessions — Three sessions are held each year, one in Detroit, one in the Upper Peninsula and one at Ferris Institute, Big Rapids. Michigan State Pharmaceutical Association. President—J. E. Mahar, Pontiac. First Vice President—Ben Peck, Kala- mazoo, Second Vice President—Joseph Maltas, Sault Ste. Marie. Treasurer—Henry Hadley, Benton Har- bor. Secretary—Clare F. Allan, Wyandotte. Members Executive Committee—M. N. Henry, Lowell; James W. Lyons, Detroit; taymond Jensen, Grand Rapids. Annual Meeting of the M. S. P. A. at Pontiac The annual convention of the M. S. P. A., which was held at Pontiac last week, was The ceedings were very interesting to the trade. The following resolutions were well attended. pro- adopted: Resolved—That we recommend that the incoming President be authorized to appoint a committee of three to re- vise the constitution of the Michigan State Pharmaceutical Association and report such revision at the next an- nual meeting and the committee be instructed to take into consideration the financial problems of the present day, as well as the National drug or- ganization changes that might be made during the coming year. Resolved—That this Association con- drug items grocery demn the distribution of department stores, other stores and that this Association con- through stores, and outlets than drug demn the practice of manufacturers supplying drug store merchandise in 10c sizes to outlets other than drug stores, when such 10c packages contain proportionately larger quantities than the regular while refusing to supply drug stores with the same 10c size packages. sizes, Resolved—That this Association con- demn and oppose displays and adver- tising of cigarettes in the show win- dows of drug stores, at least until the manufacturers see fit to allow the deal- er a reasonable profit on this merchan- dise. Resolved—That a consolidation of the American Pharmaceutical Associa- tion and the National Association of Retail Drugegists be urged and that the consolidation be a federation of the State and territorial pharmaceutical as- sociations with membership in the former, dependent upon membership in one of the latter and active member- ship in the latter limited to registered pharmacists. Whereas—The present sales tax law is unfair to purchasers and merchan- disers of small sales items, therefore be it Resolved — That the Michigan be druggists of urged to favor and throw their support toward any effort to revise downward the rate of sales tax taxation. Resolved—That we continue the support of the N. A. R. D. and that we request the N. A. R. D. authorities to seriously consider a combination of MICHIGAN dues to be collected by the state phar- maceutical associations. Resolved—That we pledge our con- tinued support to E. J. Parr, Director of Drugs, State Board of Pharmacy, and the College of Pharmacy of the State. Whereas — This year’s convention has been such a huge success due to the untiring efforts of the Pontiac Drug Club, and the Convention Com- mittee — Ciechanowsky, LeCroix and Lvons—and to the co-operation of the Pontiac, the Hotel Roosevelt and lastly but far from least, the Ladies Auxiliary of the Pon- municipal authorities of tiac Drug Club, therefore be it Resolved — That we extend our thanks and appreciation to all con- cerned. Whereas—The annual meeting of the M.S. P. A. feels so deeply the tem- porary absence of its time honored, Dexter G. Look, who for more than fifty years has been active in this Asso- ciation’s affairs and whose unceasing efforts in matters pertaining to legis- lation have been productive of so much good to Michigan druggists, therefore be it Resolved—That this Association in convention assembled herein expresses its deepest appreciation to Deck Look, “a man among men and loved by all.” Resolved—That we express our ap- perciation to the Michigan Pharma- ceutical Travelers Association for their co-operation during the convention just passed and that we pledge our sup- port not only to their Association, but to them individually in their work as they travel among us. Resolved—We wish to take this op- portunity to Secretary Turrel for his good work for our As- compliment sociation through the twelve years of his untiring behalf of the MS. PA. Following is a list of officers elected for the ensuing year: President—J. Ernest Mahair.. Pontiac Vice President—Ben Peck. Kalamazoo Second Vice President—Joe Maltas, Sault Ste. Marie Treasurer—Henry Harbor Secretary—Clare Allen, Wyandotte Executive Committee — Nord Henry, Lowell; James Lyons, Detroit Trustee Prescott Memorial Fund— Chas. Stocking, Ann Arbor. —_222s_ Failure To Give Prompt Notice of Accident Generally speaking, insurance poli- cies covering the operation of automo- biles require that the insured give the insurance cofpany prompt or immedi- ate notice of any accident that may lead to liability under the policy. And the courts have consistently held pro- visions of this kind to be reasonable and valid, and that a clear violation thereof by the insured may void the policy. Of course, just what will amount to “prompt,” or “immediate” notice of an accident, will depend upon the partic- ular facts involved. But, as a usual rule, any delay that results in placing the insurance company at a disadvan- tage, in defending an action on the pol- icy growing out of an accident, will be deemed a violation of the policy. The efforts in Hadley, Benton TRADESMAN possible danger to a merchant in over- looking this feature of automobile in- surance may be illustrated by the fol- lowing. Here the plaintiff, a business firm, operated a truck. The driver of the truck, in running it into a garage, struck a boy, who stepped off the curb, and knocked him down. The boy did not make any particular complaint, did not appear to be injured, and after the plaintiff's driver had brushed him off, continued down the street. In view of the circumstances, plain- tiff’s truck driver did not think the ac- cident amounted to anything so he made not report to the plaintiff about the matter. The next day, however, the plaintiff saw an account of the ac- cident in a newspaper, and questioned the driver about it. The driver related the circumstances, and stated that the boy was not hurt so he didn’t see any reason for reporting the accident. The plaintiff thereupon dismissed the affair from mind, and gave no no- tice of the accident to the insurance company in which he carried a policy covering the operation of the truck. Ten days later, however, the plaintiff received information that the boy had in fact suffered a serious injury, and notice of the accident was then given to the insurance company. Following this, the boy sued the plaintiff and recovered a judgment for $4,000. Plaintiff then called upon the insurance company to make good this loss, and the latter denied all liability on the ground that the plaintiff had not given “immediate” notice of the acci- dent as the policy required. The in- surance company took the position that ten days delay in giving notice of the accident, which prevented it making an investigation of the affair while the witnesses were at hand and the circum- stances fresh in mind, voided the pol- icy. Plaintiff thereupon filed suit against the insurance company on the policy. The case reached the higher court on appeal, and here in passing upon the legal effect of the ten days’ delay on the part of the plaintiff in giving notice of the accident, the court reasoned. “Under the circumstances, the in- sured was not absolved from making the report by the policy. * * * A boy struck the machine and was knocked down. True, the driver, who repre- sented the plaintiff, believed he was only slightly hurt, for he walked away, July 4, 1934 and in his opinion the accident didn’t amount to much. “But no investigation was made. There was no assurance by the person struck that he was uninjured. There Was no opportunity by later observa- tions of determining that he was not in fact injured. The plaintiff relied wholly upon the driver’s opinion which, as subsequent events showed, was a mis- taken one. * * * Where, as here, a boy is knocked down in the street, and at least slightly injured, the insured may not, without any investigation what- ever, rely solely upon his own Opinion or upon the opinion of his driver that because he went away the injury was too trivial to require attention.” So ended the case with the business firm being denied any recovery upon its policy on the ground that the ten days’ delay in reporting the accident voided the policy. In other words, that, in view of the circumstances, the notice of the accident was not “immediate” within the terms of the policy, and re- lieved the insurance company from lia- bility under the policy. Certainly then, a car owner should take no chances here. If he meets with an accident that contains a possibility of liability it should promptly be re- ported. If nothing comes of the acci- dent no harm will be done. If it proves a source of liability, the car owner will have preserved his rights under his in- surance policy which otherwise may be lost by a failure to report. Leslie Childs. —_2+~+-____ Housing Act Effects Commendation is expressed in interested circles of the Adminis- tration’s intention of stressing modernization and_ renovation work first in carrying out its hous- ing program. Loans for this pur- pose are to become available un- der the terms of the Federal Housing Act within thirty days. Stimulation of new construc- tion through the provisions of the act is not likely to become effec- tive until next year, it has been indicated. If the Administration's objec- tives in this respect are attained, the building industry and those re. lying upon it should feel real ben- efits from the new legislation by early fall. —__—_2+._ He who makes another happy will be happy in return, Gehoans FIVE-CENT CANDIES THAT SELL ~ Cocoanut Rolls _____________ 24/5¢ Toasted Rolls.......______| 24/5¢ Skylark Wafers__.._________ 24/5¢ Orchard Selieee 24/5¢ Handy Pack Pep. Lozenges__24/5c Handy Pack Assorted Lozenges _24/5¢ INSIST ON PUTNAM’S Order From Your Jobber National CandyCo.,inc. PUTNAM FACTORY rang Rapids, Mich. Cashew Rolls... 24/5¢ ron mk.‘ 24/5¢ ee 24/5¢ Malty Milkies_... 24/5¢ Handy Pack Pink Lozenges_24/5¢ aoe a ae einem. July 4, 1934 WHO . LESALE DRUG ICHIGAN 1 , PRICE did . Prices quoted CURRENT sal oe : are nominal, based —_ ( = a on market the day of i i a oo 1 i aS oe of issu ee : Acetic, No. 8, Paes ee Se ee aes (| an a Acetate, lb POTASSIUM Ae ee or Stal ib ——=S== | a nate, lb. _ Carbs Ka oF a 06 @ Sa Se = Bulk, Powd. MUSTARD ope je 60 @ imate: bg g Ba at ee ‘Nitric, Ib mn me 33. @ - a 50 @ 55 ete 45 @ Bromide, Ub, 22 ue ee 8 if oqhoman i eee 00% NAPHTHALIN e683 oO 6 ceria ee 10 @ 0 Saffron , a a5 @ 60 Balis NAPHT * i a 68 Tartaric Jog Snot nae a @ 25 eae oo. @ 1 40 Flake . ee wi ga eg Powd., Ib. --------- : eI. waa merieam, Ib, —_—---- oo LE Powd., Ib. 2-2-2. a © eae $40 10 ae 50 9 i ~------------ aie - lod.de, Ib . a a 21 : kG 45 pdide, Ib. aoa mae Denatured, N ALCOHOL Pound FORMALDEH 135 Pound __ NUTMEG ' Poe ie 230 @ 2 AP Grain, red, Se eo ean YDE, BULK Powdered 1b C00 Red, 1b oe 2 @ 40 a a ’ Se eens eo a 466 e : eo . euaa 09 Se wate @ 60 Yellow, tb. —_______.__ _ Cn 50 00 owder, lb ER’S EA > NU ’ eee e @ 6 ALUM-P @ 60 fe, RTH Pound xX VOMICA Q oo a een ' d, i ; eo” OTASH, USP ——-. (05 Fouwsercd Ib. ee ee ha oe Ge Pound GELA 10 he Soe @ 2 oud C Seon a ee wi TIN oe 16 @ 2 fe se AM io ee 55 @ 66 ae IL ESSENTIAL 5 oz Qui oe _ sneentrated ; MONIA el ne ik GLUE vee See ozs Zz. Cans, OZS.- NINE ated, Ib. iro'd, Da sear ee gg oo is we ea Co 20 ee eS e # nee oe os aS 1g White a noe 16 : 30 Sweet, a _— e * ee 2 er Carbonate, Tb. -o--W @ 13 Whi a. 2 22 Amber t., Ibs oan Muriate, Lp a ae eee 06%@ 13 Pec T%@ 35 Amber, ogee. We 75 ee Muriate, Gra. a veo acs 0 @ Ribbon ion, Th 5 a (| anaes aia cea Muriete, Gra. ie 20°@ 2 ee e oo ty Wb.—---------~ 1 Goin Aconite, Powd., Ib.---- : iy enna eS | otyoenine 42%@ as | aecneecnnneenene i 2 00 Alkanet, ee Ue ae sah 2 rouna ____. YOERINE go Bergamot, Wb. oT 10 Bis Bolus: i we oc 7 ie ee Caraws Se eee 3 25 @ 5 plain Po’ saaonnnae $ - ee ae Caraway S'd, Ti Do gs a4 oF , Powd., Ib Ce @ oo , a 45 Jassia, 'd, Ib.------- ; 0 Burdo owd., 1 : ee. - ----- 07 @ 20 Meee oa taal” [Br-nn2n-=-=- er @ 400 Cae ie aa a @ 4 ae a 's, Barbadoes, ae a 10 @ 2 60 mus, Bleached, Split ar e0 wopaiba, Ib. _—--- s PP bearee. of ae oo , Come, Ib.------ eae Calamus, Ordi pista lel 7 ere x Aor IOs enn gennnnnan cou SE mie, Wbea--—-- 100 @ 125 Blecar 8, Ordinary, Ib... 5 Bir, Oreg., Ib.a-------2--- se aaa St Powd., Ib 2 ib 264 1” ¢ie pees Ib ‘aR @ 2 Ofee tbo 2G aoe amma seh oo 15 ulecampane se 5 ees 50 6 40 7 a ic, ne el @ 5 ul it lb. ---- @ 2 25 Gent ’ Ib. | os ae 20 rabie, fst, 1b." —- Wa @ a --- 4 00 Ginger” Howe, i... cee i SIE a 3 00 @ 3 . Arabic, a lb. saa @ 80 Si aiwiue Ib. pat ase ee e --- 4 25 @ 4 60 G@inece’ Africa " Oo 3 ‘ “ 2 ic, sort — 40 ws Tae es ne mE 13 50 @1 Arab s, Ib. --- Fen eo 27 39 inser, Jamai y aoe a@ : i i. 0 ‘Arable, Gran’ Ib, 2--2-7~—- 33 @ He a a ore Ginger, Jamaica, Limed, = fe 25 assia, RKS Arabic, P'd, Ib. oe 2c vce Pu., mes 228 © 2 60 Goldenseal, ‘Powa Powd, Ib. 25 @ 35 8 peel lubes 25 ani Ree ae ee 17 60 fellebore, White, | ete ¢ 2 QaGae Po n : Guai etida. Po. lb... @ 3% J iper Ber., lb b.---- 0 @ 2 20 Indian Tt White, Powd., Ib. 175 sau Rg , ° ocak in’ ee T i : " ¢ =s ok : @ uaiac, Ib. ____” he Be ee fe ee aan te oa Ipecac, Powd.” It an 0 a my, Pos Hana 36), 75 ae fib ae 30 25 pecac, Pow , Powd., lb @ 3 ea 25 @ gelae powd, @ 82 . Flow _————— . =: Hewtco, Be Ss 0 El . fo ho 35 {ino, 1 Te a Lav. eo 1 50 20 icorice, Ib. Cierra oe wim: (ates Cio 50 $ 60 oan a2 Co @ a Lemon, 1b, es 4 50 @ 5 “ wae a : 30 g ee Elm, , eo 40 yrrh, lb af oe Cae @ ustard oe ee 1 25 Ma : ine, Powd Ib 5 35 See eae a 10 @ 50 Sneliac Mp a ann @ 90 Mustard, art, im ga Marshmallow, Gut. 1b " @ @ assafra: en . 2 Myrrh, Pow.. Ib.———----—- @ 60 range, Sw oo. qin ow, Powd., lb. @ 53 Se iptree, ae 45 _ Ground fe In @ Origanu in @ Oo Oo ae idan $b » Sut, bana @ 4 Shellac d, Ib. ee 35 75 Penny m act tb 325 @: " wig, Fond, Th. $ (Woe 3 (40 Shellac, white (bone ard ib. @ 4 Peppermint, Ib ica ae 2910 mee va wg 8 a | 46 @ : ose. a ’ Poe 2 75 tS i owd ib ones Ss pas Ss . 1, bbls g 55 R ide 8 ae @ 3 20 one, © 2 q , Jb SS) No. 2 ee O8@, dr anna n a aa 425 @ Rhub wd Wh. as 2 28 Cubeb, 1b, N (oo Ae Rass = rego Spanien iss 4 80 ubarb he 50 @ 2 25 poster og aaa ona @1 . semar SOAS. os Rh ip ee ae 25 Touiee. Iban @ 65 Ib. ee i = @1 He fa 1b. __ oe g : - Saree Powd., Ib a, @ 30 onan is 2 = 5 @150 E. I., Ib --- 100 @1 50 Sareanarilla (Honduras, cut) @ 80 cee HONE oo Se a a a 3 cut) 130 @ 1.40 ae ee oe 2 ¥ Sassafras. bee 8 00 @ 8 a Powd., Ib. on Ib. $ = ee 2 @ 40 a 450 @ 4% oe 2 o % ee ee es cas a . Powd., Ib. 6b @ % J 15 e, Press spon nin eer nnn a aa 50 wa or xem, m0 ott spi Beis 7. a T ’ pa eee “DS bo 6 @ Pound, bee ea PERO qin ete oo ib. lee 3 50 ] ‘= Glaubers oo oe ‘ ee 13. % Ib., gros ge ee XIDE Winter: ei 175 @ .o el “=” ae sis 7 ib is ie ERR 27 00 a lc 2 ot Coa =e gF08s oa 00 Leaf, true, 1b ei! wee oo iE eae 11 00 fe = ie oe 560 @60 Sie ae a0 10 Sa MPHOR adras, Ib Wormaced"fby"22-=a 400 @4 an Pea Brag Se 10 @ oe. .. . ormwood, Ib. nan-nn=nnn- 3 aa : a Soda, 1b | ee a @ 20 : . ee a 4 0 ye ea Nas en 7 3 oe ine a s 2266 ga 02%@ 08 Chinese, owd, Castor LS HEAV Ani . se, oe ee @ , 41 Stas oe ” Cannas y —— bane : a na oo a “0g @ 48 Xtal, 1b, Cod A er oe 145 @ 160 Canary, Recleaned, Ib.——-—- 40 @ 45 ies CHALK wd. and Gran. @ a oro ee} 20° +c Gay ti hick 1h = 3 76 ee ee 2 a5 Lard. No. a 85 ‘4 Co a eRe s $d . Bases. zen oo a Lico @ 35 Linseed a gal ees 1 55 = : “ Cae Powd pe 90 3 a eho Powde an ee @ 360 xtracts, st RICE Linseed, b eo 12 @ co a p beioihies @ 2 00 Precipitated Gomi Tb ei2 peas, cts per box Linseed, boil., | gal... 82 @ | of a <6 oR Prepared, - : ee Ke 10 Wafers, (248) cr sie ag -- 1 a“ @ 2 00 Olive : extra, gal pes 85 @ 1 a Plax’ G. ee Ib Rs ” @ ‘0 are Wb, ----- be font 6g grag Eaten, eek a ax Ground ib . de pone ae ee g 50 ee teas. gal 80 @ 100 Hemp, Heated i. 06 %2@ 5 ese 03 @ a Buch LEAVE 1 50 Sua a oo 250 @ ot Powd. Ib » - “a 15 re, gal. ——--—————---- Mustar¢ ih 8 @ eg gars Buchs, 1p, short eam 250 @ 200 Mustard: White, Ib g Elia Be i Buchu, Ip.) long--—n-—— a Tar, gal. De IS Gite Gon 4, White, Ib.------- a ae i ; ea aa 60 @ 7 Sage, a ee ep @ 60 hale, Seen a @ 90 Quince, Ib.” Ibeaa-n- alii aa 25 @ 15 caee loose Dis 2 @ ae . = Sabadi _ {ee eee ene --- . 0 @ = Whole CLOVES Ss e, ounce ed, 4s, lb 5 @ 30 oe S adilla, Powd., Ib. 10 @ 18 Powde1 ._ Boo a ana Gea » Ib. @ 4 Gum, o OPIUM Sunflower owd., Ib._____ “© 3 -mnees oo mee Sonn aan @ ° Fouaee o $1.40; lb Worm, o. ee 58 @ a @ 4 Alexandria, 1 ----- 2 oe. + O28... $1,405 Tb. Worm, Levant, Po a . ' 9 te 40; ee . . owd. --- — COCAINE 3 Bela abe oo 35 @ . Mh. a 6 ; 7. oe ov. oo J 2b @ 4 P PARA astile, C Son a a te a ’ i iets cree » i P - 14 15@15 40 Uva Ursi. P'd. De ae os. FFINE conte ne Xtal, Ib. PPERAS / eae cetera & ee 16% @ 15 Pon nnnnnnnnnnnnnnnns @ A ais a Op annanannnnncnnnene 15 red, lb. Tape eae 03%@ 10 one med LIME a. erd., Ib hohe ne a o. : a - 4 @ 168 loride, large az. Whit ee 25 Ash med Pound EAM TARTAR dz.-----—-- e 1 85 sacar, po 45 ¢ = Bicarbonate. 1b — eee 2 oo Ae aoe mek 0 Ue 2 Po LYCOP Pp @ 4 ustic, Co’ el oe 22 cu 5 @ 38 a ne ODIUM Pound ITCH BURGU ’ Hyposuiphite, Ib.---------- ae 10 ad ee oo Nov ot 8 a eeu 60 Ne a see 20 su phite : . bes @ 1 ee a a “nee @ 2% Xtal ss 3 Yell DEXTRI @ 60 Carb., as 1p! a Amber, ooo ili Dry Poy . . Zellow Cons. io NE Carb. Pow ho ee @ Amber, aan eee Silicate, oe say iz @ 23 ow Corn, 1b.——---------- a Oxide, eon ib. alee sa aah plewnn-anao=- “nau a ese oo 60 Tore aes 07 15 xide, light, 1b oe Oh 15 @ ee White, 1 cies @ 3s i .* ou. CSE NeY @ 15 (oe @ fa anow Winite, : 7 eae 20 ¢ = ra lahat azel, Y ee ead ’ a. = 2 ih mamma Lab.. ton MENTHOL an PLASTER PAR 2@ 7 pnock SY 04%@ 10 BR i. i” oi IS DENTAL Candy, Gal mer — 50 @ 60 ao. ~----2=-- @ yee ” a et Pound ______ ae tare 03%@ ‘2 2 Pints, doz TAR oo oe POT ints ’ ete. —— 1 50 Caustic, st’ ASSA a Poe @ 15 Liquor, Pin ks, the Quarts: dozen @ 1 0 eae ” a a eee @ 2 7. 49 Gallons _____ ‘ URPENTINE 5 ce @ 78 20 GUIDE TO MARKET CHANGES rocer’s sundries is listed upon base prices, Each week we list items advancing and ing the base price on these items with te, it shows the cash advance or decline in the mar- ant to take advantage of market advances, upon items n stock. By so doing he will save much each year. s read over a broad territory, therefore it would be ices to act as a buying guide for everyone. A careful ket and takes advantage from it. The following list of foods and g not intended as a guide for the buyer. declining upon the market. By compar the base price the week befo ket. This permits the merch thus affected, that he has i The Michigan Tradesman i impossible for it to quote pr merchant watches the mar MICHIGAN ADVANCED DECLINED | : Nothing Nothing AMMONIA BREAKFAST FOODS Blackberries Premio, No. 10... 6 20 Little Bo Peep, med.__ 1 35 Kellogg’s Brands © i : Little Bo Peep, lge.-.. 2 25 Corn Flakes, No. 136__ 2 26 Blue Berries Wuaker, 32 oz... 210 Corn Flakes, No. 124__ 2 26 Eagle, No. 10..._____ 8 75 Sep, No. fet 2 20 : tep No 25) 1 05 Cherries Krumbles, No. 412_._. 1 = Mart, No. 10. 6 = Bran Flakes, No. 624__ 1 90 Hart, No. 2 in syrup__ 3 0 ae SUTTER Bran Flakes, No. 650__ f “4 Marcellus, No. 2 in ce 1 . Rice Krispies, 6 oz... 2 4 arp — rhe, 10-71 on. 175 Rice Krispies, 1 0z.___- 1 10 ee All Bran, 16 oz. _--____ 2 30. Supreme, No. 2 in All Bran, 1002... 2 75 RID 2 25 All Bran, % oz. ____-__ 11€ Hart Special, No. 2. 1 35 BAKING POWDERS Royal, 2 oz., doz._____ 80 Royal, 6 0z., doz._____ 2 00 Royal 12 oz., doz.____ 3 85 Royal, 5 lbs., doz.____ 20 00 10 0z., 4 doz. in case__ 3 49 150z. 4doz.in case__ 5 00 250z., 4doz.in case__ $ WW 500z., 2doz.in case__ 7 00 51b., 1doz.in case__ 6 00 10 Ib., % doz. in case__ 5 75 BLEACHER CLEANSER Clorox, 16 oz..2ig __— 3 25 Clorox, 32 oz. 128 3 00 Less special factory discount of 25c per case Lizzie, 16 oz.. 12s___ 2 Linco Wash, 32 oz. 12s 2 00 BLUING Am. Ball, 36-1 0z., cart. 1 00 Boy Blue, 18s. per es. 1 85 BEANS and PEAS 100 Ib. bag Dry Lima Beans,100 Ib. 8 25 White H’d P. Beans__ 3 50 Split Peas, yell., 60 Ib. 3 10 Split Peas, gr’n, 60 lb. 6 10 »cotch Peas, 100 lb.___ 7 00 BURNERS Queen Ann, No.1 _____ 1 15 Queen Ann, No. 2 _____ 1 25 White Flame, No. 1 and 2 do... 2 25 BOTTLE CAPS Dbl. Lacquor, 1 gross pkg., per gross_.._.__. 15 Kaffe Hag, 6 1-lb. vectors el Ce eon ARES A a 2 Whole Wheat Fla., 24s 2 Whole Wheat Bjs., 24s 2 31 Wheat Krispies, 24s__ 2 a Post Brands Grapenut Flakes, 24s__ 2 Grape-Nuts, 24s ______ Grape-Nuts, 50s ______ Instant Postum, No. 8 5 Instant Postum, No. 10 4 40 9 5 > - oo © So Postum Cereal, Nc 0_ Post Toasties, 36s____ Post Toasties, 24s____ 2 Post Brank, PBF 24__ 3 15 Post Bran, PBF 36_-. 3 nanke 6-119. 2 a: Amsterdam Brands Gold Bond Par., No.ilg 7 40 Prize, Parlor, No. 6___ 8 00 White Swan Par., No.6 8 50 BROOMS Quaker, 5 sewed______ 6 75 Werehouss 7 25 Winner, 5 sewed_____- 5 75 top Notch sc 4 50 BRUSHES Scrub Progress, dozen ______ 90 Stove Shaker, dozen ________ 30 Shoe Topcen, dozen BUTTER COLOR Hansen's, 4 oz. bottles 2 40 Hansen's, 2 oz. bottles 1 60 CANDLES Electric Light, 40 Ibs._ 12.1 Piumber, 4) ibs... 12.8 Parattine,6g 14% Paratfine,iZs 14% WiCitine 40 Tudor, 6s, per box____ 30 CANNED FRUITS Apples Per Doz. imperial, No. 10... _ 4 50 Sweet Peas, No. 10____ 4 25 Apple Sauce mort Nee. 1 10 Mart, No. 10 5 25 Apricots Baker Solid Pack, DO. 10 7 50 Premio, No, 10 6 80 Quaker, No. 10______ 8 75 Gibralter, No. 10______ 8 00 Gibralter, No. 2%____ 1 90 Superior, No. 2%____ 2 25 Supreme, No, 2%_____ 2 40 Supreme, No. 2______ 1 80 Quaker No. 2... 1 75 Quaker, No. 2%______ 2 35 Cherries—Royal Ann Supreme, No. 2%____ 3 20 pupreme, No, 2. 2 25 Gibralter, No, 10. 9 00 Gibralter, No. 2%____ 2 60 Figs Beckwith Breakfast, 0, 10 2 12 00 Carpenter Preserved, > o% eflasg 1 35 Supreme Kodota, No. 11 80 Fruit Salad Supreme, No. 10_____ 12 00 Quaker, No. 10______ 11 00 Supreme, No, 2%____ 3 15 Supreme, No. 2______ 2 35 Supreme, No, 1_______ 1 80 Quaker, No. 2% _____ 3 15 Goosberries Michigan, No. 10_____ 5 35 Grape Fruit Florida Gold, No. 5__. 4 75 Florida Gold, No. 2___ 1 40 Quaker, 8 oz...___._ 90 Quaker 24% 1 40 Grape Fruit Juice Florida Gold, No. 1. 90 Quaker, No. 1. 90 Quaker, No. 6... 4 50 Loganberries Promio, No. 10 6 75 Peaches Forest, solid pack, NO 10 5 85 Gibralter, halves, No. 10 ee 6 65 Supreme, sliced, No. 10 7 50 Supreme, halves, MO 10 7 75 Nile, sliced, No. 10__ 5 65 Premio, halves, No. 10 5 65 Quaker, sliced or halves, No. 10______ 7 00 Gibralter, No, 21%____ 2 00 Supreme, sliced No. Pe 215 Supreme, halves, Ne. 2% 2 25 Quaker, sliced or halves, No, 2%4_____ 210 Quaker sliced or halves, No 2... 1 60 Pears Quaker, No. 10______ 8 25 Quaker, Bartlett, No, ms Quaker, Bartlett, No. Oe 1 8 Pineapple Juice Doles, Diamond Head, MO 2 1 60 Doles, Honey Dew, me. 40 7 00 Pineapple, Crushed Imperial, No. 10______ 7 75 Honey Dew, No. 2%4__ 2 45 Honey Dew, No. 2____ 1 85 Quaker, No. 2%______ 2 35 Quaker, No. 2________ 1 80 Quaker, No. 1_______ 1 10 TRADESMAN Pineapple, Sliced Honey Dew, sliced, me, 1) 9 00 Honey Dew, tid bits, No. 40 2 8 75 Honey Dew, No. 2%__ 2 50 Honey Dew, No, 2____ 2 00 Honey Dew, No, 1__ 117% Ukelele Broken, No. 10 7 90 Ukelele Broken, 2%__ 2 25 Ukelele Broken, No. 2 1 85 Curfew Tid Bits, No. 2 1 80 Quaker, Tid Bits, No. oO 8 25 Quaker, No. 10________ 8 25 Quaker, No. 2%______ 2 35 Quaker, No. 2________ 1 90 Quaker, No. 1__._____ 1 10 Plums Ulikit, No. 10, 30% Ryrup 2. 6 50 Supreme Egg, No. 2% 2 30 Supreme Egg, No. 2__ 1 70 Primo, No. 2, 40% PFrnD 1 00 Prepared Prunes Supreme, No. 2%_____ 2 35 Supreme, No. 2%, alien 2 00 Raspberries, Black Premio, No, 10... 8 50 Hart, 8-ounce _______ 80 Raspberries, Red Premio, No. 10________ 8 75 Daggett, No. 2. 2 20 Strawberries Hunt, Superior, No, 2 2 35 CANNED FISH Clam Ch’der, 10% oz._ 1 Clam Chowder, No. 2__ 2 Clams, Steamed No. 1 2 Clams, Minced, No. % 2 Finnan Haddie, 10 oz._ 3 Clam Bouillon, 7 oz.__ 2 Chicken Haddie, No. 1 2 75 Fish Flakes, smal!____ 1 Cod Fish Cake, 10 oz. 1 1 2 1 3 , k’less__ . % Oil, k’less 3 35 Salmon, Red Alaska___ 2 25 Salmon, Med. Alaska_ 1 85 Salmon, Pink, Alaska_ 1 50 Sardines, Im. \%, ea.6@13% Sardines, Cal. 00 Tuna, % Van Camps, 0 145 Tuna, 4s, Van Camps, et 1 16 Tuna, 1s, Van Camps, Oe 3 4 Tuna, %s, Chicken Sea, to. 1 80 Tuna, % Bonita______ 1 25 CANNED MEAT Bacon, med., Beechnut 1 90 Bacon, lge., Beechnut_ 2 65 Beef, Ige.. Beechnut__ Beef, med., Beechnut_ Beef, No. 1, Corned ___ Beef, No.1, Roast ____ Beef, 2% oz., Qua., Sli. Corn Beef ih, doz. Be fsteak & Onions, s. Chiii Con Car., 1s_____ Deviled Ham, %s_____ Deviled Ham, %s____ Potted Meat, % Libby 48 Potted Meat, &% Libby_ 75 Potted Meat, % Qua... 65 Potted Ham, Gen. \%__ 1 35 Vienna Saus. No. %_.. 90 BD 8 1 bt pet pes st DCO Baked Beans Campbells 48@ ________ 2 30 CANNED VEGETABLES Hart Brand Asparagus Natural, No. 2... 3 00 Tips & Cuts, No. 2____ 2 25 Baked Beans 1 Ib. Sace, 36s, cs._____ 1 75 No. 2% Size, doz... 1 05 No. 10 Sauce__________ 4 96 Lima Beans Little Quaker, No. 10_ 7 90 2 Baby. No.2... 1 60 Marcellus, No, 2______ 1 25 Reber Soaked ________ 95 Marcellus, No. 10______ 6 00 Red Kidney Beans NO, 10 43 MO. 2 90 String Beans Choice, Whole, No, 2-- 1 70 Cut, NOI | ge as uc NDF 1 Marcellus Cut, No. 10. 6 00 Wax Beans Choice, Whole, No, 2__ 1 70 ut, NOI oo 7 25 Cut, NO: 2 2 1 35 Marcellus Cut, No. 10_ 5 50 Beets Extra Small, No. 2____ 2 00 Hart Cut. No, 10... 4 50 Hart Cut No. 2. 1 00 Marcel. Wihole, No. 2% 1 35 Hart Diced, No. 2__._ 90 Carrots Diced, No.2 95 Diced, No. 19 _ 4 20 Corn Golden Ban., No.2 —__ 1 35 Golden Ban., No. 10 __10 00 Country Gen., No. 2___ 1 20 Marcellus, No. 2._____ 1 20 Fancy Brosby, No. 2__ 1 36 Fancy Crosby, No. 10-_ 6 75 Whole Grain, 6 Ban- tam No. 3... 1 46 Peas Little Dot, No. 2__.___ 2 15 Sifted E. June, No.10 _ 9 50 Sifted E. June, No.2 __. 1 73 Marcel., Sw. W No. 2_ 1 45 Marcel., E. June, No. 2 1 40 Marcel., E. Ju., No. 10 7 75 Pumpki. Oo 30 4 75 0 8 1 2 NO 2 92% Sauerkraut No 4 25 PaO No. 2% Quaker______ 1 35 ee Spinach MO 2M 2 2 25 NOS 2 1 80 Squash Boston, No. 3...) i 35 Succotash Golden Bantam, No. 2_ 1 75 Hart, Ne 2. 1 55 Pride of Michigan____ 1 25 Tomatoes NO: 40 5 50 NO, oie fo 1 85 NO 2 2 1 40 Pride of Mich., No. 2._ 1 10 CATSUP Regal, 14 0z...____ doz. 1 38 Sniders, 8 o0z.__...doz. 1 20 Sniders, 14 0z.__...doz. 1 85 Quaker, 10 oz.___._Doz. 1 23 Quaker, 14 oz.____ doz. 1 50 CHIL! SAUCE Sniders. 8 oz. Sniders. 14 oz. OYSTER COCKTAIL Sniders, 11 oz... 2 00 CHEESE Roquefort 70 Wisconsin Daisy _______ 15 Wisconsin Twin _____ 14% New York June, 1932___ 25 Sap Sago 48 Ck ee 16 Michigan Flats ______ 13% Michigan Daisies _____ 14 Wisconsin Longhorn ___ 15 Imported Leyden _____ 27 1 Ib, Limberger________ 18 Imported Swiss ________ 56 Kraft, Pimento Loaf ___ 24 Kraft, American Loaf___22 Kraft, Brick Loaf ______ 22 Kraft, Swiss Loaf______ 25 Kraft, Old End, Loaf __ 31 Kraft. Pimento. % Ih._ 1 60 Kraft, American, % Ib. 1 40 Kraft, Brick, % 1b.____ 1 3 Kraft, Limbur.., % Ib... 1 31 July 4, 1934 CHEWING GUM Adams Black Jack______ 6k Adams Dentyne __._____ 65 Beeman’s Pepsin a i Beechnut Peppermint___ 65 Doubiemint Peppermint, Wrigleys__ 66 Spearmint, Wrigleys__ 65 guncy Mri 65 Wrigley’s P-K_..... 65 Veapemy 2. 65 CHOCOLATE Baker, Prem., 6 lb. %_ 2 30 Baker, Pre., 6 lb. 3 oz. 2 40 German Sweet, 6 lb. 4s 1 70 Little Dot Sweet ©. Be 2 30 CIGARS Hemt. Champions ___ 38 60 Webster Plaza _____ 75 00 Webster Golden Wed. 75 06 Websterettes ________ 37 50 Cintos 33 Su Garcia Grand Babies_ 40 00 Bradstreets ___.__ | 38 50 Odie 40 00 kk G Dun Boquet____ 75 0 Perfect Garcia Subl._ 95 00 Hampton Arms Jun’r 33 00 Rancho Corono_______ 31 60 Rena 20 Ov Buidwiser 20 00 eabeua oe 20 00 Cocoanut Banner, 25 Ib. tins___ 19% Snowdrift, 10 lb. tins. 20 CLOTHES LINE Household, 50 ft.______ 2 09 Cupples Cord -___._.. 2 % COFFEE ROASTED Lee & Cady 1 Ib. Package RCO 2 21 Boston Breakfast ____ 241% Breakfast Cup ______ 23% Competition ____ 18% Oe 21% Meiestie 30% Morton House _______ 32% Nedroy 2 27% Quaker, in cartons____ 24% Quaker, in glass jars___ 29 Coffee Extracts M. Y.. per 160. 12 Frank’s 50 pkgs._____ 4 25 Hummel’s 50, 1 Ib.____ 10% CONDENSED MILK Eagle, 2 0z., per case__ 4 60 Cough Drops Bxs. Smith Bros... 1 45 pugena 220 1 45 Vick’s, 40/10c_________ 2 40 COUPON BOOKS 50 Economic grade__ 2 50 100 Economic @rade__ 4 50 200 Economic grade__20 00 1000 Economic 8rade__37 50 Where 1,0v0 books are Ordered at a time, special- ly printed front cover is furnished without charge. CRACKERS Hekman Biscuit Company ee eee Saltine Soda Crackers, 1 lb. pkgs.__________ 1 86 Saltine Soda Crackers, 2 ib. pies. —. 3 26 Saitine Soda Crackers, 6% oz. pkgs... 1 00 Butter Crackers, bulk 13 Butter Crackers, 1 lb._ 1 72 Butter Crackers, 2 lb. 3 13 Graham Crackers, bulk 14 Graham C’s, 1 lb._____ 1 90 Graham C’s, 2 lb._____ 3 36 Graham C’s, 6% oz.___ 1 00 Junior Oyster C’s, blk. 13 Oyster C’s, shell, 1 Ib._ 1 84 Club Crackers... __ 1 86 CREAM OF TARTAR 6S tb. boxes. 2 35 ORIED FRUITS Apricots Evaporated, Ex Choice Chelte 0 ag Standard 22:0 15 Ex, Fancy Moorpack___ 25 Citron Si. bow July 4, 1934 MICHIGAN TRADESMAN 21 Currants JUNKET GOODS FRESH MEATS HERRING SOAP TEA Packages, 11 o0z.-_--____ 14 Junket Powder __.__- 1 20 Am. Family, 100 box__ 6 05 Japan Junket Tablets __-_.. 1 35 Beet Helland Herring Wy B Oe 225 Medium (oo aa Top Steers & Heif._.-- 11 Mixed, kegs _._______ 75 Fels Naptha, 100 box._. 465 Choice _____________22@ 30 Dates Good Steers & Heif._._ 10 Milkers, kegs ~.------ 80 Flake White, 10 box.-. 275 fancy Ze shee Imperial, 12s, pitted__ 1 90 Med. Steers & Heif._._ 08 Jap Rose, 100 box_____ 240 NA 4 Mike Imperial, 12s, regular_ 1 60 MARGARINE Com. Steers & Heif.__._ 07 Hairy, 100 bex 3 25 ; : Imperial, tae, 2 1D. Wilson & Co.’s Brands Palm Olive, 144 box_.. 6 20 Gun d Imperial, 12s, 1 Ib.---- Oleo Lake Herring Lava, @ lex... 26 auc a4 Not 11 Veal % bbl., 100 Ibs._----_-_-_ Camay, 72 box_______- 3 05 eS Cut A & Oleg. Oo: Top 2 09 P & G Nap Soap, 100@2 75 Figs Godd 2.0 ee 08 Sweetheart, 100 box__.5 70 |, Ceylon Calif., 24-83, case___. 1 70 Mée@ittm. 2000 07 Grandpa Tar, 50 sm.__ 210 [ekoe, medium 6: MATCHES Mackerel Williams Barber Bar, 9s 60 Diamond, No. 5, 144.__ 6 25 Tubs, 60 Count, fy. fat 6 00 Williams Mug, per doz. 48 English Breakfast Peaches Searchlight, 144 box. 6 25 Lamb Pails, 10 lb. Fancy fat 150 Lux Toilet, 50_.--.___ 8 05 Congou, medium _______ 23 Evap. Choice _____--- 13% _ Crescent, 144 ~___-__ 5 65 Spring Lamb ---.-----. 20 Congou, choice _____ 35@36 Diamond, No. 0_.-_. 606 Good = Congou, fancy __.___ 42@43 Medi 2 15 : Peel Safety Matches Poos 10 White Fish SPICES Lemon, Dromdary, Red Top, 5 gross case 5 25 Med, Fancy, 100 Ib.-_ 13 00 Whole Spices Oolong 4 0z., doz.____.__..110 Signal Light, 5 gro. cs. 5 25 Milkers, bbls. -_------ 18 50 Allspice Jamaica___--- @24 Medium 39 Orange, Dromdary, Standard, 5 gro. cs.__ 4 00 Mutton K K K K Norway___ 19 50 Cloves, Zanzibar______ @36 Gholea 5 4 0Z., dozen_________ 110 Good 20 las8 Ib. pails. 140 Cassia, Canton _ GH anes 50 Citron, Dromdary, Modtum 200 05 Cut Lunch___-___-_- 1 OC Cassia Ge pke doz @40 $= = = 323) 4 02z., dogen._.. 1 10 Poop) jo Boned, 10 lb. boxes____ 16 Ginger, Africa ~-_____- @19 MUELLER’S PRODUCTS Mixed, Na: Fo... | @30 Macaroni, 9 oz.________ 2 10 Mixed, 10c pkgs., doz... @65 TWINE Raisins Spaghetti, 9 oz_____. 2 10 Pork ‘Yutmegs, 70@90 __-__- @50 Cotton, 3 ply cone______ 0 Seeded: Bulk 20 7% Elbow Macaroni, 9 oz.. 210 Loins __--_---------_--- 14 SHOE BLACKENING Jutinegs, 105-110 ____._ @48 Cotton, 3 ply balls______ 40 Thompson’s S’dless blk. 7% Egg Noodles, 6 0z._--. 210 Butts -__--_______---__- 14 2in1, Paste, doz.___-_ £30 *epper Black | @23 ———- sidless bik.___. a Egg Vermicelli, 6 oz... 210 Shoulders ______--____-- 11 * So rag pm dz. a i OS) coe 4. Egg Alphabets, 6 oz... 210 Spareribs -_-.-------- 0744 ri-Foot, doz. -—----- - Quaker Seeded. 15 om. 8 Cooked Spaghetti, 24c, Neck Bones -_-—-_--_--- e 2 “er ‘ene. awe a. Gian Haslde 17 02,.---~---------- 220 Trimmings ------------- 08 ee Cloves, Zanzbar ______ @28 oe Ce 18% “assia, Canton._______ @22 ite ine, 40 grain 19% pagan aot, Ginger, Corkin 2 __ @17. White Wine, 80 grain 24% 80@ 90, 25 lb. boxes _-@07% NUTS STOVE POLISH +7 sing -------------- @21 70@ 80, 25 lb. boxes __-@08% Whole PROVISIONS Blackne, per doz. -_-__ 1 30 ma a.) a 2 e 60@ 70, 25 1b. boxes --@08% Almonds, Peerless ____ 15% Black Silk Liquid, doz. 130 ®Pper, Black ------- os WICKING 50@ 60, 25 lb. boxes __@09%% Brazil, large ____--___- 14% Barreled Pork Black Silk Paste, doz._ 1 25 Po co whi ee ax No. 9, pereréss 80 40@ 50, 25 lb. boxes __@10% Fancy Mixed _____ i Gee ee ee ee, ee ner Cavesaa @20 No. 1, per gross _-____- 1 25 20@ 40, %51b. boxes _@11% Pilberts. Naples ____ 20 Short Cut, Clear__ 12 60 © Emameline Liquid, dos. 1 30 ae Goaniah 2222 Ga, Nh 2 ner gross 1 50 20@ 30, 251b. boxes__@13 Peanuts, vir. Roasted 09% EB. Z. Liquid, per dez._ 1 30 ee eee @3¢ No. 3, per gross 2 30 18@ 24, 25 lb. boxes __@15% Peanuts, Jumbo __--_- 10% Radium, per doz.-_---- 1 30 Peerless Rolls, per doz. 90 Pecans, 3, star__________ 25 Dry Salt Meats Rising Sun, per doz._-_ 1 30 Rochester, No. 4 daa 50 Pecans, Jumbo _________ 40 DS Belles_-__--___ 20-25 19 654 Stove Hnamel, dz._ 2 80 Seasoning Rochester, No. 3, doz._ 2 00 Hominy Pecans, Mammoth _____- 50 Vulcanol, No. 10, doz. 1 30 Gnili Powder, 1% z.-. 62 Rayo, per doz.________ 15 Pearl, 100 Ib, sacks---. 3 50 Walnuts, Cal. ______ 14@20 Stovoil, per doz._----_- 300 Celery Salt, 1% oz..-_ 80 Hickory 0 07 ; oe Lard ves Saze 26700 80 "ure In tlerces... a, Onion Sale 2 $5 Bulk Goods 60 lb. tubs ____- advance % Galle (ec ; 35 Woe HAGE Elb.Macaroni, 20 Ib.bx. 1 35 50 Ib. tube ___-.. advance % _.. SAE? Ponelty, 3% 0Z.._--__- 2% Guenens Wiel Egg Noodle, 10 ib. box 1 25 Saited Peanuts 20 Ib. pails _....advance % FE. O. B. Grand Rapids Kitchen Bouquet_____ 435 ae ao Band, Fancy, No, Be 10% 10 Ib. pails __---advance & Colonial, 24, 2 Whe 95 Laurel Leaves ___ 26 Nv wood handles_______ 2 00 12—1 lb. Cellop’e case_ 126 5 1b. pails _-_..advance 1 Colonial, 36-14% -_---- 120 Marjoram, 1 oz.--_____ 90 farce oat vee = Pearl Barley 3 1b. pailg _-___ advance 1 Colonial, Iodized, 24-2. 1 35 Savory, 1 0z.__________ wee Single handle. 95 ie. 7 00 Compound, tierces-____ 08 Mod. No.1, bbl ——--- #99 Thyme, 1 on —-_____ 4 Sim eee io ite 5 0 Compound, tubs__-___ 08% ed. NO.1, : — Tumeri \y, ae qe eet ee Sea © ln ag ng eer i. Shelled Farmer Spec., 0 Ib.-_ 1 00 i eae ee meee jy Asmonds (0a g 8 39 Packers Meat, 50 lb... 65 =piint, small 6 50 — Spanish, 125 Sausages Cream 7 a ice a ntils De aes 1% cream, -, @ac A Churns — hl lk ee ge ueleeta -—-—----— 8 Batter Sale, 28010. bbl. 4 00 a Barrel, 5 gal., each____ 2 40 Pecans, salted __________ 45 Wrankfort _.._.__-_---- 13 Block, 50 lb._---------- 40 Kingsford, 24/1 __._-_ 210 Barrel, 10 gal., each___ 2 55 Walnut, California __-- 48 pork 15 Baker Salt, 280 lb. bbl 380 powa., pags, per 100_.3 95 ° t9 6 Bal, per gal... 16 ee ee ee ree 6, 10 lb., per bale_.__.._._ 93 me } me Tapioca Tongue, Jellied ~.-.--.. 32 20 : pal 10 Argo, 24, 1 lb. pkgs.___ 1 58 Pearl, 100 lb. sacks__.. 7% Headehesss 13 8, 3 Ib., per bale_-_.. Grou, 265 2 25 Pails Minute, 8 oz., 3 doz.__ 4 05 9 Ib. bags, table-_-___ 45 10 qt. Galvanzed ______ 2 60 Dromedary Instant -__ 3 50 sn eon ae 12 at ores ToS Quaker, 3 doz. case__. 2 65 Smoked Meats Glos a + Coenen eee 3 10 Jiffy Punch Yo Ho, Kegs, wet, Ib... 16% Hams, Cert., 14-16 Ib.__ 20 Argo, 24, 1 Ib. pkes.--155 10qt. Ti TE al. Jr.. & 60 8 doz. Carton... & 25 ' : Hams, Cert., Skinned Aves, 1 2 ib phen 3 nm Uae 4 00 Assorted flavors. iS ——---== @20 Argo, 8, b lb. pkgs.____ 2 <6 Traps : e Silv ° a A / se. Ww OLIVES—Plain oo) rns a ee ae Monee Wedd 4 halen 66 Quaker, 24 4 oz. cases 187) q@aliforni ’ DKS. --—-_-- Mouse, wood, 6 holes... 70 EVAPORATED MILK California Hams ------ @ll ‘Siger, G0 Ibe | 2 82 ae : Quaker, 24 7% oz. es. 355 pion; ; lODIZED ' Mouse, tin, 5 holes__ 65 Quaker, Tall, 10% oz. 285 fish rife 12 22 oz. cs.3 45 Licnic Boiled Hams..--@16 U iad woe = ag Quaker, Baby, 4 doz.__ 1 43 1 gal lass h i 1 30 Boiled Hams --~------ @28 Rat spre 2 1 06 @astcr Caton, % an 3 55} St Blase, cach. Minced Hames @ll SALT Rat, spring, ——-—--—--- 1 00 Carnation, Tall, 4 doz. 2 95 Bacon 4/6 Cert.__-____- @20 ; : spring--__-____ 20 Carnation, Baby, 4 dz. 1 48 OLIVES—Stuffed ot SYRUP Oatman’s D’dee, Tall_ 295 Quaker, 24 2% oz. cs, 1 87 eo Corn Tubs Oatman’s D’dee, Baby 148 Quaker, 24 4 oz. cs... 2 75 Beef ONAL el NN neh Covenial Blue Karo, No. 1%___ 2 40 Large Galvanized_____ 8 75 Pet, Tall) 295 Quaker, 24 5 oz. cs...355 Boneless. rump_-—_- @19 00 are -t aia } Blue Karo, No. 5,1 dz. 3 30 Medium Galvanized___ 7 75 Pet, Baby, 4 dozen_-__ 145 Quaker, 24 7% oz. cs. 4 55 Ske Blue Karo, No. 10___. 3 14 Small Galvanized _____ 6 75 Borden’s, Tall, 4 doz.. 295 Quaker, 24 10 oz. cs. 5 95 : — Red Karo, No. 1% ss 2 42 Borden’s, Baby, 4 doz. 1 48 Quaker, 12 32 oz. cs.-. 7 88 Liver Red Karo, No. 5, 1 az. 3 59 1 Gallon glass, each _.1 80 Beer -------------------- 10 ‘ee Run’g, 32, 26 0z._- 2 411) Red Karo, No. 10._____ 3 46 Washboards Cale 35 Five case lots__--___-- 2 30) Banner, Globe 5 50 FRUIT CANS rn 07% lodized, 32, 26 oz.--_-- 2 4) Hides ate ea Five case lots____----- 2 30 Imit. Maple Flavor qa! me Surges | eaten ot eer 2 Orange, No. 1%, 2 dz. 287 288, single-----_____ 6 00 Ball Mason PARIS GREEN Be, No , - Double Peerless z F. O. B. Grand Rapids ‘hs Se 34 Orange, No. 3, 20 cans 4 34 cinot. peerless 22777 be One pint ee ee 8 00 sueneee Asean eR Oe eter ae ee ne etre ete ee Le 32 BORAX Northern Queen__ oo 5 50 CAR GRE .” 2s and 5s_-------------- 30 RICE Twenty Mule Team Maple and Cane Universal 7 oF fat geno, 12 40 Fancy Blue Rose_----- 500 24/1 Ib. packages -____ 3.35 Kanuck, per gal._____- ic : Mason Can Tops, gro. 2 55 Fancy Head --------- 6 10 48,10 oz. packages_.._ 4 40 Kanuck, 5 gal. can____ 4 75 96, 4 lb. packages... 4 00 Wood Bowls RUIT CAN RUBBERS PICKLES Grape Jue 13 in. Butter _________ 5 00 — Red Lip, 2 gro. Welch. 12 quart case_. 4 40 in. Butter __-____ 9 00 ee 78 RUSKS Serums Welch, 12 pint case... 2 25 ]/ In. Butter --_______ 18 00 Lip, 2 all Postma Biscu': Go WASHING Welch, 26-4 oz. case___ 2 30 19in. Butter _________ 25 00 Presto White P, Sweet Sm Bon Ami Pd., 18s, box_ 1 90 sro. carten__....___ 83 Land C, 7 oz., doz... 92% 18 rolls, per case --..-. 210 Bon Ami Cake, 18s---. 1 65 Paw Paw, quarts, doz. 2 80 12rolls, per case __---- 139 Bon Education provides a chest of tools with which we can do better work. DETROIT depression proof (ae EENANCEAE CONDITION —S EWEN SERONGER IHAN BEFORE IKE DEPRESSION — WE HAVE MAIATAINED OUR DIWIDEND RAIZE OE NOT HESS THAN 25 “/o MICHIGAN SHOE DERLERS MUTURL FIRE INSURANCE COMPRAY BANSING MUTUAL BUILDING GRAND RAPIDS July 4, 1934 Corporations Wound Up The following Michigan corporations have recently filed notices of dissolu- tion with the Secretary of State: Grand Rapids Art Terrazzo & Mo- saic Co., Inc., Grand Rapids. Misner Manufacturing Co., Detroit. Lakeland Development Co. of Min- nesota and Marquette. Coldwater National Co., Goldwater. Duchesse Oil Co., Grand Rapids. Face Beautiful Co., Detroit. Colleen’s, Detroit. Pontaluna Golf Club and Country Estates, Inc., Muskegon Heights. Vermont Avenue Body Co., Detroit. Chicago-Good Humor, Ine., Detroit. Gekco Company of Detroit ,Detroit. Silver Salvage Co., Detroit. Detroit Copper and Brass Rolling Mlils, Detroit. A. C. Templeton, Inc., Detroit. Broken Rocks Land Co., Detroit. ——_>+>___ Trend Toward Formal Jewelry With the indications pointing to a strong formal trend for the coming Fall, novelty jewelry lines will reflect this development for the new season. Items to contrast with the vogue for black are expected to be particularly favored, with much use of rhinestone and gold and silver effects predicted. Bracelets are expected to continue in favor, but the trend toward higher necklines is a factor once more mili- tating against necklaces. Pins and dress ornaments will receive much at- tention, with the color trend guided by favor for the novelty shades in ready- to-wear. Hair ornaments are expected to sell well. ——_»>>.+__ Black Follows White Vogue Persistence of the vogue for white has been the outstanding feature of current business in women’s apparel and accessories and also explains the reason for the abrupt swing to black for Fall. Consumers, it is pointed out, tend to buy in cycles and, having fa- vored white so strongly during the late Spring and Summer, will want a com- plete change for the Fall. This, ac- cording to expressed, is the major basis for a Fall demand for black that is expected to average 75 per cent or more of the total. While colors will be in request to round out early stocks, re-orders on black are expected to be extremely heavy. views ee Agree on Hosiery Markings Unanimous agreement on the ad- visability of marking all women’s full- fashioned hosiery with brands of “A,” “B” and “sub-standard,” to indicate the grade of the merchandise, was reached at a joint conference of hosiery retail- ers and manufacturers last week. The meeting, held in the offices of the Na- tional Association of Hosiery Manufac- turers, was called to pass on the sug- gested grading of hosiery. Retailers attending the session agreed to sub- mit the recommendations to the next meeting of directors of the National Retail Dry Goods Association for ap- proval. —_++2>___ Retailers Pick Black to Lead Black, with 60 per cent. in coats and 60 per cent. in silk dresses, will domi- nate for the early Fall, according to the volume-selling tones selected by the color committee of the National Re- MICHIGAN tail Dry Goods Association. Brown follows with 20 per cent. for coats, suits and silk dresses, but leads with 30 per cent. in the case of wool dresses, against 20 per cent. for black. Green is rated third, having 8 per cent. in coats aud suits, 15 per cent. in silk dresses and 20 per cent. in wool dresses. The remaining percentages are divided be- tween rust and wine tones, blue and other scattering colors. ———_2>+. New Lines Revive Appliance Call Introduction of new low price lines by manufacturers of small electrical household appliances has enabled them to reverse the downward trend in sales volume during the month. Producers who brought out special and items at prices ranging from 10 to 30 lines per cent. below previous quotations, report June volume so far is the high- March. Demand for appli- ances began to decline around the mid- dle of April and fell almost to depres- sion levels in May. The new low price est since lines were developed to curb the de- cline and became popular at once with retailers looking for promotional mer- chandise for July sales. ee New Pile Felt in Fall Hats With the better grade types of Fall millinery to be opened around the mid- dle of July, manufacturers are working on lines that stress felts and velours. Particular attention is being given to a new type of felt of Parisian origin which features a pile finish and is very light in weight. These will be offered initially in the French imports and are expected to develop later into large volume sellers. The new Millinery Code has not yet been approved at Washington, but trade factors are hopeful that the revised pact will be signed before well into next month. —_—_+ +2 Unbranded Sheet Prices Hold Manufacturers of unbranded wide sheetings, sheets and pillow cases will adhere to present price levels for some time to come. Producers see no advan- tage in changing prices at this time be- cause customers are not ready as yet to place orders for later delivery and have sufficient stocks to take care of immediate needs. Leading manufac- turers of branded lines extended their discounts an average of 5 per cent. to attract Fall business and buyers ex- pected that quotations on unbranded merchandise would be altered also. —_++.___ Future Price Policy Price reductions announced yesterday in steel bars, rolled strip and black sheets again indi- cate that sharp price advances cannot be imposed without arous- ing consumer resistance. This move is not expected to presage any broad cutting of prices of these and similar prod- ucts. However, greater caution in advancing prices ni the future is likely to be engendered. If business recovery is resumed in the fall, therefore, price ad- vances of manufactured goods are expected to be far less common than in previous periods of im- provement since March, 1933. —_> ++ We hire men to examine banks. Let us examine ourselves. TRADESMAN OUT AROUND (Continued from page 9) less than 10 per cent. of the total orders placed,” Mr. Block added, ‘yet this fig- ure covers goods of a highly competi- tive nature and, making it impossible for other retailers to meet the chain merchandise, might prices on such easily spell the ruination of any store.” Price differentials in favor of the chains, without similar recognition for other types of distributors, were espe- cially attacked by Mr. Block. He cited the differentials in the code for the tobacco industry, in which the chain obtain a maximum cigars of 42 per cent. from list price, the jobbers’ basis, whereas the inde- pendently owned store may not obtain may discount on more than 28 per cent. “At a recent hearing,” Mr. Block added, ‘“‘a buyer testified that he offered a manufacturer in the toy wheel goods industry an order for 10,000 wagons of a certain style, the price to be the same as paid by a chain store and the quantity to be split up by shipments to various independently The order was refused on the grounds that the manufacturer was not permit- ted to give these individual stores the owned stores. benefit of the chain-store price and that the Code Authority expected him to bill these goods separately to the stores at the differential, which represented a most chain-store price.” discouraging advance over the Views in other retail quarters which have given close scrutiny to code devel- opments, agreed with Mr. Block’s opin- ion. The National Retail Dry Goods Association has vigorously protested a dozen or more codes in which the NRA has permitted manufacturers to make discriminatory classifications as be- tween retail outlets. Among the other major codes cre- ating such distinctions are the earthen- ware code, which prevents grouping buying orders at a price less than to an individual retailer; the sanitary water- proofing and specialty code, which gives the mail-order houses a longer dating on holiday than other retailers get; the cooking and heating code, which grants a differential in favor of mail-order houses and chain stores; the gas-appliance code, which does the same, and the rubber footwear code, which allows the manufacturer to set up very definite classifications. The rubber sundries sought such goods industry has and certain codes, like the perfume and cos- metics rules, require that the manu- facturer list his prices by classification of customer, classifications also, Probably few people are aware that it is one of the duties of the constabu- lary at Grand Haven to keep track of the places biting at Spring Lake, Grand Haven and Lake Michigan. in possession of this information they where fish are ars : y ~ <$- i secause they are constantly can be very helpful to a fisherman who would otherwise go by guess. They can be interviewed, personally or by telephone, any hour of the day or night, E. A. Stowe. 23 Proceedings of the Grand Rapids Bankruptcy Court (Continued from page 11) Hlayden Supply Co., G. K.---_--__ 2.19 David b Fivans G Ri... = a56.15 BG Pry: Gio Re 55.00 WE: Kimeriey, G@ BR. . 60.35 bD. Lotta, G. K.- ee 131.76 gd J. Shank GCG. Ro... CLP Bo Bh Ciroey @ Re 213.89 NMA. Guest G R= 4 oer 2s Mrs. A. Johnson, G R..____., 6,025.66 Citizens State Bank, Big Rapids 10,235.00 Walter Clark Veneer Co., G. R.-- 2,985.00 Hart Mirror Plate Co., G. R. 855.00 In the matter of Anthony Miller, doing business as the Hartford Creamery, bank- rupt No. The final meeting of ereditors has/ been called for July 17. The trustee’s final report will be approved at 5503. such meeting. There may be a small dividend for creditors. In the matter of Vernon T. Moyer, bankrupt No. 5551. The final meeting of creditors has been called for July 17. The trustee’s final report will be approved at such meeting. There may be a small dividend for creditors. In the matter of Charles H. Weisner, individually and doing business as Serv- ice Plumbing & Heating Co., bankrupt No. 5646. The final meeting of creditors has been called for July 17. The trustee’s final report will be approved at such meeting. There will be no dividend for general creditors. In the matter of Charles Belkin, as Belkin Jewelry Co., bankrupt No. 5605. The final meeting of creditors has been called for July 17. The trustee’s final report will be-approved at such meeting. There will be no dividend for creditors. In the matter of Thomas Wesley Par- ker, as Thomas W. Parker Co., bank- rupt No. 5634. The final meeting of cred- itor has been called for July 17. The trustee's final report will be approved at such meeting, There may be a dividend for creditors. In the matter of Compound & Pyrono Door Co., bankrupt No. 5667, located at St. Joseph, free and clear of liens sale will be held at the office of the referee in bankruptey, 845 Michigan Trust build- ing, Grand Rapids, on July 9. The prop- erty for sale consists of a furniture manufacturing plant for doors and ve- neers, including buildings and equipment, All parties interested, should be present at the above date and time. a Mr. and Mrs. Average Citizen: “It ain’t my business to see that the law is enforced. Don’t we elect officers to do that?” Phone 89574 John L. Lynch Sales Co. SPECIAL SALE EXPERTS Expert Advertising Expert Merchandising 209-210-211 Murray Bldg. Grand Rapids, Michigan Advertisements inserted under this head for five cents a word the first insertion and four cents a word for each subse- quent continuous insertion. if set in capital letters, double price. No charge less than 50 cents. Small display adver- tisements in this department, #4 per inch. Payment with order is required, as amounts are too small to open accounts. IWILL BUY YOURM ERCFANDISE FCR CASH Dry Goods, Clothing, Shoes, Ready-to- Wear, Furnishings, Groceries, Furniture, Hardware, Etc. Will buy entire stock and fixtures, or any part. Also short leases taken over. All transactions confidential. Write, Phone, or Wire LOUIS LEVINSOHN Phone 27406 655 So. Park St. Saginaw, Michigan For Rent—Store 21 by 106. Adjoining Woolworths. Address Hotel Whiting, Traverse City, Mich. 65 Wanted—Experienced coffee salesman for established territory in Grand Rapids, and Northern Michigan. Karavan Coffee Co., Toledo, Ohio. 660 Jeweler—Splendid opportunity for a repair man to locate, in a town with 3,000 population. No opposition, Address C. G. Pitkin, Whitehall, Mich, 661 For Sale—Market, light grocery, Two- story building. In live resort town. Mod- ern electric refrigeration. Good money maker for hard worker. Ill health. Sac- rifice $3,000, or best offer. Hartwig, Montague, Mich, 662 24 MICHIGAN TRADESMAN July 4, 1934 Retail and Wholesale Tobacco Codes Three codes of importance — the cigar manufacturers, retail to- bacco and the wholesale tobacco codes — have been approved. President Roosevelt signed the two former while Gen. Johnson approved the latter. All have sim- ilar provisions for correcting abuses in the trade and contain a “cigar merchandising plan” whereby manufacturers establish the retail prices on their products. This plan regulates the trade discounts which may be allowed at different stages of cigar distri- bution. Nothing is said in the offi- cial release regarding cigarettes but it is understood their sale is to be regarded in like manner. In his letter to the President, Gen. Johnson says this plan was origin- ated by the retail dealers and was proposed by them to the whole- salers and cigar manufacturers. This provision was supported by all three factors at the code hear- ing. Gen. Johnson points out it has long been a recognized custom in the trade for manufacturers to de- clare intended retail prices and in- ternal revenue taxes on cigars are computed on such a basis. The plan is based on this custom, but free competition between manu- facturers, as well as industry's rec- ognition of the imperative need for the retention of the five-cent cigar, should serve to prevent in- creases in prices. ——E———— AAA Considering Co-operatives Serious consideration is being given by the Agricultural Adjust- ment Administration as to the fea- sibility of licensing co-operatives as the only source of milk for dis- tributors of a city, it is learned. Such co-operatives would be recognized only if having a cer- tain large proportion of producers as members and they would be required to operate under a series of regulations formulated by the adjustment administration in con- nection with representatives of producers, distributors and con- sumers. Each co-operative so licensed would, of course, have to be an organization of sufficient standing and experience to give the adjust- ment administration ample assur- ance that it could control its mem- bership. Question is raised whether a co-operative would want to han- dle such non-member milk and whether legal difficulties would not be encountered if the co-op- erative handled a large amount of non-member business. — —___—_—_@ The Trend of Steel Operations A rebound of steel operations to a level between 30 and 35 per cent. of capacity is likely next week, the steel industry expects. This week the American Iron and Steel Institute estimated oper- ations at 23 per cent. of capacity, a drop of 48 per cent. from the week before, when in turn a re- cession of 20 per cent. was regis- tered from the preceding week. The July 4 holiday of itself fur- nishes only a partial explanation for the unprecedented severe con- traction in operations. Recent changes in the steel code encour- age hand-to-mouth buying, as does also the current price weak- ness. Accordingly, available or- ders are meager at the turn of the quarter. On the other hand, demand for steel for public works and ship- building promises to be fairly heavy for the full quarter. Bids for offerings of large quantities of steel will be opened this month by the Navy and on a number of bridges, dams and other major projects. —_~+2..—___ Trend of Recovery Business recovery in the United States during the past year has followed a far more erratic and fluctuating course than in most other countries, studies made by the National Bureau of Economic Research indicate. The chief cause of this is prob- ably the monetary program of the Administration, which gave a great initial stimulus that carried production very sharply upward in the spring and summer of last year. Since this stimulus was speculative in character, it led to a subsequent liquidating move- ment which eliminated more than half the initial upturn. The early months of this year witnessed an upward trend in the volume of industrial activity in most major countries, with the ex- ception of France. This relative uniformity of movement tends to strengthen hopes of continued broad recovery here and abroad after the period of summer dull- ness. —_~2+<—__ Expansion in Bank Deposits The reporting member banks’ report for the week ended June 27 shows that the rapid expan- sion in the volume of bank depos- its, especially marked since last February, continues apace. The banks reported a rise for the week of $129,000,000 in de- mand deposits. This resulted pri- marily from their purchases of $83,000,000 in Government bonds and $32,000,000 in other bonds. Demand deposits are up fully $1,763,000 over a year ago for these banks. Many conservative bankers feel that sooner or later this persistent expansion in individual and cor- porate bank deposits will lead to a major stimulation of business. However, the time when this will occur is open to great uncertain- ties. —2+<.___ Unlimited Pension As:essments Close study of the new Rail- road Retirement Act is causing considerable concern in industrial circles. since this measure is re- garded as the opening wedge for the President's social insurance program scheduled to come up at the next session of Congress. Representative Crosser, of Ohio, author of the railroad meas- ure, has indicated on the floor of Congress that it may be so re- garded. Section 5, on contributions by employes to the fund, states that “the contribution percentage shall be determined from time to time”’ by a Railroad Retirement Board. Initially, employes contribute 2 per cent. of annual wages, and employers 4 per cent., and carrier contributions are to remain double those of employes. This provision opens the way for future indefinite increases in contributions. This is regarded as an unsound precedent. —_~~--___ Entering Critical Period With the passing of the holiday retailers will enter upon a period expected to show the sharpest de- clines in dollar volume, in compar- ison with a year ago, since the re- covery movement started. In July and August last year, particularly the latter month, the threat of mounting prices induced a wave of consumer buying that resulted in notably heavy increases. This factor is lacking now and most stores are relying upon new items in both seasonal and intermediate merchandi-e as chief promotional aids. Estimates indicate a decline of around 10 per cent this month and somewhat more in the month to follow. —_—_»>~--___ Twenty-one New Readers of the Tradesman The following new subscribers have been received during the past week: Alfred E. Augustus, Ypsilanti R. R. Dickerson, Ypsilanti R. W. Brinloe, Ypsilanti Retail Druggists Mutual Fire Ins. Co., Cincinnati Ivan S. Clark, Ann Arbor A. Ree, Ann Arbor Hinderer Bros., Chelsea Schneider & Kusterer. Chelsea Snyder & Fuller, Grass Lake J. E. Rohrer, Grass Lake Howard T. Picket, Munith W. J. Dancer & Co., Stockbridge E. H. Applegate, Stockbridge Hollis & Son, Stockbridge D. R. Lantis, Stockbridge M. W. Morrison, Williamston A. W. Rann, Perry L. C. Stephenson, Laingsburg J. C. Colby, Laingsburg Geo. L. LeFever, Muskegon Charles G. Batson, Conklin ——_2+2.—. -__ Expiration Dates of Some Federal Taxes Fennville, July 3—As President of the Michigan State Pharmaceutical As- sociation, I asked Senator Vandenberg to set us right on some of the taxes we are paying, directly and indirectly. He has replied with the enclosed letter and it might be interesting to druggists and business people alike, and I am sending it to you for pub- lication if you care to use it. Duncan Weaver. Washington, June 22 — This will acknowledge your letter of June 20. The tax of ten per cent, on toilet goods will expire on June 30, 1935. The two cent tax on bank checks will expire on December 31, 1934. The six cent tax on soda fountain syrup does not apply to any sale made after May 10, 1934. The five per cent. tax on toothpaste, soaps and shaving creams will expire on June 30, 1935. I believe this fully answers your questions. If you desire further infor- mation do not hesitate to call upon me. A. H. Vandenberg. —_—_~+->—___ Fall Buying Pace Satisfactory While the week has seen no greater spurt in orders, early Fall purchasing activity in the coat, suit and dress trades has about measured up to ex- pectations. Inspection of lines and number taking by retailers and buying offices were a feature, but the South- ern and Coast stores began to place fairly good orders. Inasmuch as the lines in each field are incomplete as yet, the market has yet to hit a real buying pace, and the view that this will not be reached until around the week of July 9 is now general. The general comment of retailers was that values are better than a year ago. The $48 and $58 retail ranges in August coats continued to stand out. i —____ Agree on Spindle Curtailment Differences arising between manu- facturers of underwear and Cotton Textile Code Administration over the latter’s curtailment policy were ad- justed at a conference at the Cotton Textile Institute, George A. Sloan an- nounced. As a result of the conference the underwear producers agreed to withdraw their request that spindles operated in underwear mills be put un- der jurisdiction of the Underwear rather than the Cotton Textile Code Authority. Underwear producers con- tended that the curtailment policy adopted by the Cotton Textile Code Authority would interfere with current production for Fall. —__2>>__ Fish Taste Better the Quicker They Are Cooked This is the season when the amateur fishermen are most active in doing their bit not only for sport but for their larders, The United States Bureau of Home Economics offers this advice: If the best flavor of the fish is to be retained, cook the fish as soon as possible after i tis caught. Nutritionists recommend planty of fish in the diet, of both the fresh-water and salt-water varieties. Fish is an ex- cellent and economical protein food, says the Bureau of Home Economics, and a rich source of phosphorus. oo . To Set Refrigerator Standards Standardization of three basic fac- tors in refrigerators is being sought by the Bureau of Home Economics of the Department of Agriculture. Dr. Louise Stanley, of the Bureau, has met with representatives of retailers, the Govern- ment and the industry, with particular reference to standardization of insula- tion, power consumption and capacity of operating units. While the ice re- frigeration code calls for the setting up of standards for wooden ice boxes, it has been found advisable to begin with the mechanical refrigerators, it was re- ported. —_+--__ He who goes to extremes finds evil —good lies in between. ease. BISCUITS: MAY BE BOUGHT WITH CONFIDENCE AND SOLD WITH PRIDE High Quality valuable asset to your pendent Merchants Only. Home Baker Fiour A High Grade Kansas Hard Wheat Flour Milled to our own formulae which is pleasing thousands of housewives. Sold throughout the entire State of Michigan. Rademaker-Dooge Grocer Co. Distributors for KARAVAN KIRO COFFEE KARAVAN EL PERCO COFFEE KARAVAN SIXTY-SIX COFFEE Phone 8-1431 Grand Rapids, Michigan GOOD REASONS WHY YOU SHOULD STOCK W. R. Roach & Co., Grand Rap- ids, seven modern Michigan facto- maintain ries for the can- ning of products grown by Michi- gan farmers. A complete line of canned vegetables and fruits. - Priced Low Will prove to be a business. Sold by Inde- LEE & CADY dei A Report of Growth. . A ) To our stockholders and patrons the officers and Directors of THE NATIONAL BANK | OF GRAND RAPIDS are pleased to make the following report of progress for the first ¥ six months of this year: DEPOSITS menos oe... lc $4,276,866.89 mre iee 4,432,953.14 eos. ULL. 4,584,826.76 eee... 4,777,016.31 eee LL 5,489,681.80 oe 5,957,466.57 | This is an increase of almost 50 per cent. All deposits in amounts up to $5,000 are t fully insured under the amended Banking Act of 1933. Our loans to individuals and industries have only been limited by sound banking practice. It is our desire to increase these loans daily in accordance with the needs of the community. The Officers and Directors take this opportunity of expressing their appreciation for the generous co-operation given them and pledge their support to the up-building of the business, professional and industrial life of Grand Rapids and Western Michigan. OFFICERS JOSEPH H. BREWER, President ARTHUR E. WELLS, First Vice-President JAMES VICTOR STUART, Vice-President JOHN LARSON, Cashier ARCHIBALD K. GIBSON, Assistant Cashier HARRY C. LUNDBERG, Assistant Cashier RUSSELL FAIRLES, Auditor DIRECTORS HOLLIS BAKER, President Baker Furniture Factories WILLIAM A. HYLAND, Surgeon MELVILLE R. BISSELL, Jr., President Bissell Carpet EARLE S. IRWIN, President Irwin Seating Co. Sweeper Co. LEWIS A. ARVIS, President W. B. i i JOSEPH H. BREWER, President The National Bank of J isa, ae Co of Grand Rapids ALBERT B. KLISE, President Blackmer Pump Co. WALLACE E. BROWN, President Grand Rapids Varnish Co. BOYCE K. MUIR, President Muir Co. THERON H. GOODSPEED, President Citizens Industrial ARTHUR E. WELLS, Vice-President The National Bank of Bank Grand Rapids The National Bank | Grand Rapids