MOBILIZING 'RASTUS "OUR NEGRO SOLDIERS WILL BY LIEUTENANT CHARLES C. LYNDE WEDNESDAY, MARCH 13, 1918 381 FOURTH AVENUE, NEW YORK Talk It The Outcome of the War Depends on Ships! When we can build ships faster than the U-boats can sink them, the submarine peril will vanish-and America's might will win the war. This is why the Government's call to enroll 250,000 skilled workers for the shipyards is so urgent; so vital. U. S. Shipyard Volunteers FOR THE WINNING OF THE WAR This space contributed by the Publisher through the Division This Concrete Road Makes possible efficient, economical operation of motor trucks between Dundee, Illinois, and Chicago. And continuous, successful motor truck operation requires concrete roads-that will stand up under heavily loaded trucks traveling at high speed. There would be less likelihood of food or fuel shortages if concrete roads were everywhere, so that motor trucks could operate uninterruptedly between farm and town, town and city, transporting promptly as wanted the things needed by homes and industries. Hard roads vitally affect the wage earner, the business man, the farmer-YOU. They are a prime factor in fighting the high cost of living. They are essential to an early winning of the war. HOARDING HIDES-A DISCLAIMER In The Outlook of February 6 there appeared an article entitled "Hoarding Hides," in which reference is made to a recent preliminary report issued by the Federal Trade Commission, which is interpreted as indicating that the packers are illegitimately hoarding hides, and thereby increasing unnecessarily the prices of leather and shoes. The number of cattle slaughtered has increased greatly during the past five years, but the demand for leather and shoes, due both to foreign purchases and to unprece dented prosperity at home, had increased during 1915 and 1916 even more rapidly than the supply of hides. Our Nation's exports of men's shoes, for example, increased from 4,450,000 pairs in 1914 to 12,800,000 pairs in 1916. During 1917 the number of cattle slaughtered was the greatest in our history, and hence the domestic supply of hides was unusually large. On the other hand, the 1917 domestic demand for shoes did not keep pace with this increased supply of hides, and the British embargo and lack of shipping facilities cut down our exports. As a result, the prices of hides, except the heaviest hides, which are used for army shoes, fell appreciably during 1917. Leather prices did not advance during the past year, but slightly decreased. The packers necessarily have a large supply of hides on hand at any time, owing to the length of time it requires to cure these hides and to sell them. On the declining market of 1917 it was difficult for them to find a market for all their hides, although Swift & Co. actually sold twenty per cent more hides during 1917 than dur ing 1916. In other words, Swift & Co. has been hoarding hides about the way that Chicago has been hoarding snow and the freight yards around New York have been hoarding freight, and this is undoubtedly true of the other packers. Swift & Co. has no desire to keep capital tied up in hides any more than necessary, and sells them just as fast as the market can absorb them. of The packers do not place values on hides in the sense that they control the price; they have to be governed by the supply hides on the one hand, and the demand of the leather and boot and shoe industries on the other. The article mentions that the price of hides has increased twice as much as the prices that we have paid for cattle. The prices of hides do not depend on the prices of cattle, and the fact that hides have risen more rapidly has enabled us to pay more for cattle, and to sell our meat at lower prices than would have otherwise been the case. In this connection, it is significant that on its cattle business during 1917 Swift & Co.'s net profit, including the return from hides, was only about a fourth of a cent per pound of beef. We mention these facts because we believe that the interpretatio placed upon the report of the Federal Trade Commission places the packers in a wrong light. We are sending you a copy of our 1918 Year Book, which contains other fac about the operations of Swift & Co. Any reader of The Outlook may obtain a cop by writing to the general offices in Chicago SWIFT & Co., Per L. D. H. Weld, Manager, Commercial Research Department. Chicago, February 13. 1918. 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It can be readily taught to do things that look marvelous, but are really only the result of your natural mental faculty properly controlled and applied. No matter what your work is you will find Mr. Roth's Memory Method a priceless aid to achievement and a money making instrument of efficiency. Mr. Roth is the most successful memory trainer in the country, his Method is the shortest, most direct, most interesting, and most practical, of any that we have seen. THE FEAR OF FORGETTING will vanish the minute you learn Mr. Roth's Then you will be delighted at the new sense One well known pupil C. Louis Allen President of the Pyrene says: "Now that the Roth Memory Course is finished, I want to tell you how much I have enjoyed the study of this most fascinating subject. Usually these courses involve a great deal of drudgery, but this has been nothing but pure pleasure all the way through. I have derived much benefit from taking the course of instruction and feel that I shall continue to strengthen my memory. That is the best part of it. I shall be glad of an opportunity to recommend your work to my friends." Mr. Roth's fee for personal instruction to classes limited to fifty members is $1,000. He has authorized the Independent Corporation to offer his complete Course of Seven Lessons at a nation-wide introductory price of ONLY $5 Mail the coupon today with this amount and the complete course of Seven Lessons will be sent you, with a booklet containing fifty letters of hearty recommendation from executives of the largest business houses from Seattle to New York City. ABSOLUTE GUARANTEE If after 3 days you are not satisfied with the course return it to us and your money will be refunded in full and without question. The Independent has been established for 70 years. Take advantage of the low introductory price. Act now-lest you FORGET. Independent Corporation I enclose $5.00. Please send me the Roth Home Study Course for memory training, with the agreement that I may keep it three days for examination and if not entirely satisfied may send it back and you will refund my money without question. Name... Address P. O. State Division of Business Education 119 WEST FORTIETH ST., NEW YORK Outlook 8-13-18 |