Prospects Bright
for 1925, Declare
Industry Captains
,Year Promises to Be Mosl
Prosperous in History of
Nation, Many Leaders
Assert.
(Costlaued From Page One.)
tiles. At present, the demand for the
Iron and steel products- manufactured
In the United States is large, persist
ent and satisfactory.
"The new year will probably begin
With all of the manufacturing plant!
operating at full capacity. Also sell
ing prices have advanced to a eon
siderable extent and should afford
roasonable profits sufficient to con
tlnue the wage rates at the present
standard. These were not reduced
during the depression, notwlthstand
lug they were not justified by the re
sults of business.”
Railroads Hopeful.
American railroads enter upon the
new year with a hope that the trans
pnrtation act will be so administered
ns to accomplish what It was designed
to do, 1. e„ by efficient management
already attained to earn the statutory
income, which has never yet beer
done.
Julius KrtiMschnitt, chairman of the
executive committee of the Southern
Pacific company, thus summed up the
condition upon which the carriers de
pended to continue their accomplish
ment of 1924; a showing which in Itself
. was a climax to what they had done
since 1920. He summarized as their
performance In the past four-year
period:
"1. Reduced operating expense!
$4,852,000 dally In summer of 1924 be
low those at end of government con
trol and guaranty In 1920: collected
$5,100,000 Jess In freight bills; paid
$120,000 more taxes. The payments by
the public in freight bills plus the
taxes collected by the public exceeded
the redaction In expenses by $383,000
every day.
“2. Moved the greatest freight traf
fie in 1923 In their history, withoutt
car shortage or congestion.
. ”3. Changed the public attitude from
one of hostility to one of friendly co
operation. which contributed vitally to
the record of 1923.
”4. Kstablished advisory boards of
shippers, re-operating with railroad
officers, who settle matters of mutual
concern before friction of irritation
can arise.
“5. Reduced loss and damage pay
ments to freight $230,000 per day.
"8. In 10 years ended with 1923 re
duced fatalities to persons in train and
train service accidents 34 per cent and
Injuries 35 per cent. Transporting
987,000,000 passengers with but 138
fatalities is the best on record.
Full Bill Cut.
•‘7. Suved J2J.2H1,000 by more effi
cient use of fuel.
"S. Pa Id $10,000,000 less divi
dend* to owners In 1923 and $192,000,
niore taxes than 10 years before.
“9. Spent substantially $3,000,000,000
on additions and betterments In the
four years ending in 1924. although
their income was $2,117,000,000 less
than congress intended it should be.
"10. Carried nine-tenths of a ton, or
1,800 lbs., an average distance of one
mile for 1 cent in 1923.”
Mr. Krultschnitt, viewing what lay
ahead of the railroads, said: "At. the
end of the war the put.lie pronounced
emphatically against government and
in favor of private ownership of rail
roads. In its transportation act it
determined to secure:
”1. Adequate transportation facili
ties to keep pacp with the growth of
the country through Ihe agency of
privately operated railroads by pre
scribing rates that would secure a
railroad income sufficient to raise
capital for ne* ded facilities.
”2. Freedom from interruption of
transportation by creating a tribunal
to settle controversies with labor, on
which it retained the balance of pow
er.
'Because," Mr. Kruttsrhnitt con
tinued," the act has never been al
lowed to function freely, neither aim
has been attained.”
No new law* should defer a rea
sonable perminent adjustment of the
interest* of the public, the railroad
owners and labor, according to Mr.
Kruttschnitt. Public control over
labor controversies should not be re
laxed but rather should be tightened
until all railroad servants realized
that "any disloyal act anywhere, or
at any time, will he met with such
condemnation as will make its sue
roes intpossible."
Near Prosperity Highroad.
"We «r« nearer the highroad of re
turning prosperity.” said Walter C.
Teagle. president of the Standard Oil
company of New Jersey, "than we
are frankly Inclined to admit.” How
ever, he expressed solicitude in the
light of 1924 experience In what he
sold was a distinct overproduction In
the oil industry. He called the dis
position of 630.000,000 barrel* of
crude ol land it* products now in
storage in Ihs United Pistes a press
ing 7ii'oblem.
This overproduction, Mr. Teagle
said, was in part due to these vast
stores of oil themselves which had
been accumulated at higher than
present prices, and, in being under
sold by current production, had failed
to stabilize the market. In part it
was due also to the fact that gaso
line was producing more power per
gallon through Improved production
science. Then, a considerable por
tion of the requirements of gasoline
were being supplied by source* other
than straight-run gasoline, such as
casinghead gasoline, cracked gasoline.
The Influx Intd the oil Industry of
war millionaires had boosted produc
tion from -.186,000 barrel* In 1918 to
3,930,000 barrels • in 1933. Finally,
modern transportation had brought
production to the door* of the great
refineries. Isolation of any great
producing was now made impossible.
“The peopel of the United States
have seldom It ever been presented
with a greater promise of prosperity
than today If many of the current
business analyses and forecast* are
to be taken seriously,” said William
E. Knox, president of the American
Bankers association.
“There are several main factors,”
Mr. Knox pursued, "to which this
favorable outlook is attributed. One
i* the fact that we have won political
peace, with an administration that
guarantees economic sanity so far as
the national government Is concerned.
Another Is that our banking and
monetary situaticfn was never in a
better position to serve expanding
business. Industrially also the coun
try has ample plant capacity equip
ped with modern and efficient ma
chinery. Conditions in employment
and wages are such ns to insure large
buying power from the general pub
lic. In agriculture the position of the
farmer has been Improved by splen-,
did crops and good prices. Financial
conditions in foreign countries, whose
purchases are required to take up
the slack of surplus production of this
country, promise better foreign mar
kets.
“Granting that this optimism is
soundly based, it may be pointed out
that there is one other factor as im
portant as any of the foregoing if we
are to have an era of prosperity that
will continue for any length of time.
This factor is the mental attitude of
our people and the consequent use
they make of the opportunity of pros
perity that i* presented. Many a good
team has lost its game through over
confidence and prosperity is some
times Impaired by optimism. In the
present situation the more cautious
fear that there Is danger of an era
of Inflation developing with business
activity because of our great supply
if gold. But the mere fact that the
means arc at hand does not neces
sarily Imply that our business men
are going to rush headlong into an
era of over trading and our bankers
into a period of undue credit expan
sion. If business men and bankers
continue to use good judgment, ex
panding their operations only as the
demand of the public calls for expan
sion, thus maintaining equilibrium
between production and consumption,
we need have no fear of an era of
inflation. The longer this attitude in
maintained, the longer should the pe
riod of prosperity continue.”
The outlook fur the copper lnndus
try was deemed “most encouraging”
by K. L, Agassiz, president of both
the Calumet and lleda Consolidated
Copper company and of Xhe Copper
and Bras* Research association, lie
saw no Indications of abatement in
the domestic demand, uiul said the sit
uatlon abroad was “steadily impruv#
ing.”
Huge C ipper Consumption.
“The domestic consumption in
1933,” Mr. Agassiz saitl, was the
largest in the hi«tory of the industry;
nearly 1,300,nan,OOO pounds. This
year's consumption his been go n't
at even a higher rate. In spile of
the fact that production has increased
very materially, the total stock of
available copper has decreased ton
sidernbiy since January 1 last, ow
ing to the large refinery deliveries.”
Copjier exports in 1934 now dosing
should exceed 1,000,000,000 pounds,
Mr. Agassiz expected. This would he
a 25 per cent gain over the annual
figures of the last three prewar
year*, and would be accomplished de
spite Oermanv buying only two
thirds as much as before the war.
"With world production and con
sumption of copper running^ pretty
close together at the present time,”
said Mr. Agassaz, “and Increased pro
duction on any very large scale un
likely, the outlook for the future lia's
very encouraging aspects.”
Public utilities, according to Henry
L. Doherty, banker, share in a gen
eral business outlook for 1925 the
country over, which he regards as the
most promising he lias seen in 20
years. The public service industry, in
his opinion,-faces tlie new years with
such advantages as the development
of group In preference to local owner
ship; the improved caliber and |>er
sonnel of regulatory commissions;
and the stendy advance in nearly all
branches of public utility practice.
"Local ownership and manage
ment,” Mr. Doherty said, "has been
almost entirely superseded by group
ownership as represented by the
modern holding company.” Such
centralized organization, lie said,
could maintain an extensive staff for
the operation of properties which a
local company could not afford. Its
securities found favor because they
insured an Investor against carrying
all his eggs In one basket.
Power Cost Lower.
Improved practice had lowered the
cost of elertric power despite the
mounting price of labor and fuel. Mr.
Doherty expected this to encourage
the further utilization of power, par
ticularly wherever it could reduce la
bor cost.
The increasing ability of power
companies, being regulated monopo
lies, to work together without in
fringement of antitrust legislation,
Mr. Doherty believed, had increased
the efficiency and economy of the
service they rendered to the public,
lie said It promised even more for
1925.
The automotive Industry “should
enter 1925 with the greatest confi
dence,” in the belief of Alfred P.
Sloan, Jr., president of the General
Motors corporation. ‘ Prosperity of
the farmer and the wage earner,” he
raid, "add greatly to the prosperity
of tlie industry. Conditions, both eco
nomic and psychological, are such
that the purchasing power of both
should equal or be greater than 1924.
This Insures a good volume of busi
ness.
“As Is generally known, 1923 was
the largest year in our history. This
year sales to consumers have been
slightly Ires than last year. I see no
reason why 1925, using the same
measure, should not be equal to
1923.”
Progress was made by the industry
in the direction of stability during
the year Just closing, according to
Mr. Sloan. His own corporation
would start 1925 with Its dealers'
stocks at a normal level In relation
to current consumers’ demand. It
had sacrificed profits in 1924 to ac
complish this purpose, but believe*!
it was sound business, the carryi;;
of unreasonable stocks in Hie f.
being but an economic loss fur which
the consumer eventually had to pay.
Produel ion Increases.
The tremend* us increases In pro
duet Ion, Mr. Hkian said, which thc
industry had enjoyed during its dg
\ rlopment stage "are certainly no
going to continue at anywhere lie. r
the same pace. The problem now !
to eliminate all possible waste in
manufacture and distribution. I nm
confident a more satisfactory busi
ness, taken on the whole, will 1*
developed on that foundation, with
profits well maintained."
The silk industry, neeordlng to 11.
It. Mallinson, president of H. It
Mallinson & Co., Inc., ends 1924 with
mills running at capacity, and, In
some instances, in day and night
shifts. The business, accordingly, is
getting ofT lo a flying start for 1925,
with the possibilities for profitable
progress in the year ahead as great
as its history has ever recorded, he
said.
‘‘The recent election,” Mr, Mallin
son felt, "and the prospect of sound
and sensible legislation based on busi
ness judgment justifies us in predict
ing an era of continued and stabilized
success.”
Mr. Ma'lllnson stressed that this
condition gained importance because
tlie American textile business as a
whole had made such strides that it
may be as safely relied upon as steel
as (he barometer of business condi
tions in general.”
Tho position of silk itself as a
basic index, in his opinion, was
measured in part by the fact that the
United States consumed from 75 to
80 per cent of the world output of
raw silk, and also because it manu
factured more silk textiles than all
the other countries of the world com
bined.”
r~-- '
Burgess Bedtime
„ Stories
By THORNTON W. BCRfiKSS.
Suspldml* folk avoid mishaps.
By always watching out for traps.
—Uttle Joa Otter.
Jjttle Joe Hotter Is Suspicious.
Hardly lmd the trapper disappeared
in the woods when Uttle Joe Otter
awoke and crept forth from his hid
ing place. He left Mrs. Otter and the
two young Otters still asleep. Little
Joe yawned, stretched and then de
cided that he wanted a trout. It didn't
take him long to catch one. With It
in’ills mouth lie swam straight to a
certain old log, one end of which was
in the water. He intended to climb
out on that old long and eat that
trout. It was his favorite eating
pluce.
But just as lie reached that old log
and before lie had started to climh
out on it a queer feeling of uneasiness
took possession of him. lie had a
feeling that something wasn’t quite
right. Now when Little Joe lias that
feeling lie always heeds It. He didn't
climb out on that log. He turned and
swum over to a flat rock. He climbed
nut on that and laid the fisli down.
Somehow lie had lost his appetite. He
looked long and hard over at that old
log.
It looks ail right,” said Little Joe.
"Yes, sir, it looks sli right. Just the
same I have a feeling that there is
something wrong there. I believe I'll
go back there and se it I can find out
what Is wrong.”
So once more Little Jos swsm over
Year In
and Year Out
jl Two resolutions
have become matters
of year i n and year out
practice at this store.
Kodak, Brownie
and Graflex cameras
of every style and
equipment always in
stock.
Den loping, printing and en
larging tf tin lupinir kind.
Eastman Kodak Co.
(The Robert Dempster Co.)
1813 Farnem St.
Bramah Stara a
308 South 15th St. 7 M
to that old log. But he didn’t climb
out on it. He studied it and studied it.
He used both eyes and nose. Present
ly he noticed some fresh mud on that
old log. That was queer. He was
sure there had been no mud there
before. Very carefully he looked
around the place where the fresh
mud was and in doing so he discov
ered a chain. He got hold (jf the
chain and pulled gently. What do you
think happened? Why he pulled a
Mrs. Otter and Little Joe swam
swiftly over to them.
(rap out of a,place that had been cut
in that old log and then covered with
mud to hide the freshly cut wood.
"Ha!" exclaimed Little Joe as the
trap dropped down into the water be
side the old log. "I've been afraid of
this ever since we were chased by
that terrible two-legged creature on
our way o#er here. He must be the
one who set this trap. If he set this
trap he has set other trajrs. I must
warn Mrs. Otter and the children
That trapper has been watching us
He knew that I had been using this
old log. He probably knows all th«
other places that we are in the habit
of going to. We must find out where
those traps are."
Just then Little Joe heard a splash
in the water. There was Mrs. Otter,
with a trout In her mouth. He called
her over and showed her the trap
and where it had been set. "Where
are the children?” he demanded.
"They are fishing,” replied Mrs
Otter, with a most anxious look In hei
eyes. "We must find them at once
They never have seen a trap, and they
know nothing about traps. Oh, dear
I hope they will not get caught before
we can find them and warn them!"
Just then the smallest young Otter
climbed out on a rock, and a moment
later her brother climbed out on an
other rock. Mrs, Otter and Little Joe
swam swiftly over to them. The young
Otters stopped eating the fish they
had caught to stare in surprise at the
way in which their parents were hur
rying.
(Copyright, IStt.)
■
The next story: “The Young Otters
Are Warned." _
- —
CALLES CUTS DOWN
FEDERAL PAYROLL
Bjr Universal Hertlf*.
Mexico City, Jan. 1.—The diplomat
lie reception scheduled for today at the
national palace \yna suspended owing
i to the illness of President Calles, who
is suffering from a slight attack of
the grip.
President C'alles continues lo cariy
out his economy plan and order the
dropping of 1,000 additional govern
ment employes effective New Year s
day.
Bee Wknt Ads are tne best business
boosters.
"=fl
| Read Friday’s Bee ;
j Berg’s Greatest
Sale
^IHlil% I'll! I I U I I I I I »IL:I ■ il H ^
OSTEOPATHY
i* an efficient curative ,
SYSTEM
Stf-^vtM Imitation* - Substitute.
t
SHOES
If you have ever worn a pair of Florshcims, there is no
need to tell you how much real worth you are buying
for $8.85 during this Semi-Annual Sale. They are the
same shoes you gladly bought at ten dollars or more.
The Florsheim Men’s Boot Shop I
315 South 16thBetween Farnam I
-*p |
Special
Reduction
Sample Demonstrator
(Shop-Worn) Used—
Grands - Uprights - Players
A sale of odds and ends comprising a number of
HIGH-GRADE Grands, Uprights and Players.
Many of these are same as new—some slightly used
for concert work only—others refinished and all in
first-class condition. These Special Prices are at |
reductions of from 25% to 40% from regular selling :j
price. See these wonderful bargains as they will
not last long at prices quoted.
VERY LOWEST TERMS ^
Phonographs
A clean up of Phonographs—odd styles and finishes,
floor demonstrators—and machines taken in on
Radio. Like new—35 to 50% Off.
1 TERMS LIKE RENT
HOSPE CO.
I;l__ ''
1- ■ 1 ■■■ " .. . —--■ {
- ■ ■ - - --— - - --
\
Winning Greater f avor
in Omaha Every Day! |
□ Although PURITY Semi-An- '
thracite was introduced to Omahans only
a few weeks ago over the recommendation of thou
sands of satisfied users in other states it is fast win
ning favor. In fact many Omahans have already
found it to be the greatest semi-anthracite on the
market.
This is gratifying, indeed—yet if YOU have not
already “obeyed the impulse” to let PURITY prove
its worth, we call your attention to the many out
standing features of this wonderful coal.
Purity Semi-Anthracite is the choicest coal mined in the semi
anthracite district of Arkansas.
Purity Sem-Anthracite gives you 82 per cent carbon—and
carbon is heat. It is LOW’ in ash—and the ashes may be re- ^
burned, which is a great saving in waste.
.
*
Purity Semi-Anthracite holds fire for 36 hours without atten
If your dealer cannot tion; it is strong coking and free from clinkers.
supply you with PUR
ITY Semi. Anthracite, Purily gemi-Anthracite is SMOKELESS and SOOTLESS and
forThe iSMfc *» tow in moisture content.
it.
Purity Semi-Anthracite is LOW in price, offering ALL the
advantages of scmi-anthracite, yet costs about the same as I
the best grade of soft coal.
Order Purity Semi-Anthracite from your dealer today—com
pare it with any other semi-anthracite at any price and you ,
will find as many new users in Omaha (and thousands in
other states) have found, that Purity is the cleanest, hottest
and most economical semi-anthracite on the market.
Pittsburg & Midway Coal Mining Company
C. E. Wilson, Division Sales Agent * 772-74 Saunders-Kennedy Bldg.
Omaha, Neb. A T-lantic 4432