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Show t - - - a. LABOR POLICY BECOrtIES MAJOR I FACTOR IN CONSIDERING VALUE I re71II I 1 - , BY 1100E11 55tev:- I ff W. BABSON namty Weirs in the factory. These are. run tries "''"'WELLEISIA"I' 1111.1.elVilail.-,-kurt.-Ii- . the y work to the disadvantage 0.. , vievr of lire newspaper apace bor.': Still. they are the usual re- taken by the coal strike, rail- course of labor when it la met by ob- road strike. and certain textile strikes. stades that do not yiel1 are Ire "Right here is the problem of th prone to think that strikes are very general at the pressnt time. tog. empleerer Of the new fey years How W.. Baboon. howsver, refutos this ;shall he meet the new temper of Sr to I statement issued today bor? In my opinion that ug:y temper eel must be rnet by open dealing. by setting follow's: "A matter of tact we have sery before:labor the facts under which bus- te dr,ne and by admitting labor. tress fe'w strikes at the...present time.. Ever Vnh iST eittice Abe man-Lbetrikeentarve 4u tWW114117,,grem1rIT- - to a below the point which was then called management of the elements of the in- 'normal.' The fact that we have had 'llustrial relation which moat dire,tly three strikes of large dimensiona blinds concern labor That is to say: the U. to this basic truth. TWO 'of ,the F,e time to develop personal departments, strikes. the coal strike and the rail set up organize rho', and-aehopmeres-otriker---are- of rite- - rest of the which have not been deflated so far things that belong to this class is, fler,t Inher-ts-t- it 'War time waSea go.- - The the cotton textile strike, has been partially, a gun at the employer's heal, but when ,, deflated and the trouble is abotttgo4theamployer---himaelt4e-4--tha-eag,and is in the position to dictate i "Ingthereet ficulties in these three industries are; terms. then cases of belated hostilities; "The employer ticks not have to take! For the most part labor is rot Birth- - this reasonable eourse, if he does not fog. wages are being gradually lets want to. He can use these next years down to lower levels and the dieposi- - to pile up trouble for himself and Wei tion of men isto keep at work. There succeseors in days to come. If, bow- -, is always a rise in the strike' curve even the employer is wise. he will take' summer. We are having advantage, of to set sp the -- during thenow. that rise Nevertheless. we are best kind of machinery. with whtch to mbar-o- r the Aka hinutelt--annot:baiting his instostry- .' distribution of strikes which we had; rot a nueet,on c,f .etrUc,e in the tiniest year or at any time since 1911. mediate future It will be a question hos.e,er conditions this year. The strike curve worse than. strikes. It demands its own V". ter normal than almost anything treatment. else in industry; of....theae..,COrtditIOnst,...Inveses "Aa' tOri Shotild give more thought to the be looked for In conditions. made pellet...et ette.ctpseteertwettoctri wave' of strikee ahieh labor purchase securities. An examine-- ; marked the years 1915 to 1920? The they shows', of corit,orationl tion simple fact that there were more jobs that the labor policy isearnings the greeter de-- 1 than men; that the cost of living was factor between and termining profit going up; that labor was in a position times. This es- during No sueh prospect tie Lorcrlhe.itinte. ii""1"to In concerns various years right ahead.P'the Larne line of i ndustry. They all Therefore, we reel not look f or a repe- - pay sain the for approximately price tttion of the strike condition of the raw they all have practir war days. Those days are passe& Nev- - call? materials; the same hours of work. but aoe; rtheless. we are going to have 'strikes, mtnranY succeeds and the other There are going to he a good many fails. Statistics "bow that the differ-- I them: ThY are gotng to be called for ence la very largely due to their la- reason" other than the ones that back- - bor and financial policies. Therefore.; ed the strikes of war time- - Then men investors will seek se- - l went on strike for more pay. They conservative Of compan ies which have a curitleas were couraoeous. confident. buoyant. labor policy. and which , sure were were of sultress. They They seldom disappointed In the future 'companies are. now developing plans! b of u se when the next which Will are to ahead striks0 they going just comes. Ice cannot to .period of prosperity against wage cuto. Against attempt' gathered in the summer. but must rule out the 1171111. Theo are not be be in the winter when it is not Put up to he as successful as they were going needed. The same principle applies! In the war time strikes. to labor. Labor trooldes are very dif- of Mil" In real ttis :consequence , pinion of the peat few years la as 'Bruit to settle when they occur. Wise to the frame of mind which labor Is rnanufaclulrers prepale. during such as thee.. preventative measures going to have. In contrast with the times so that labor oroobles will not occur buoyant confilenee of the ,,war yearn. : labor Is now going to be sullen. re- - when times ar General lousiness ig IltIldtr g Itt oserl' entrat reoengfot they do not to are the index in of the victories. Babsonaccording open they going gain It to he disposed to accomplish by indirect chart today at I; means. A man who cannot get hia pay per cent below normal as compared we rateed can stall on the lob. fie can get with 9 per cent and minus the beet of his boss by all kinds,of S per cent a year ago. V' . 0' ...0..0.1111110. Fire-wreck- buildings are ment ies heavy-liabilit- on the owners unless insured against loss of rent and cost of re- profit-sharin- ll placement. , ! . year 7,800 apartment buildings are mined by the raV: Every . BUT insure here that t prevent it. , at 1 plants Towards the end of 4.pn4tt Rails and Industrials wets'', holleever, modificaton of place wag mode on the production At High Level for Year curtailed turance of incrcoved coal oupoltes , NEST , 4 i UTAH HOME 44- 4- -- , gyarc-eg- Aug', grook's his ad- vance 91 'took markt pre., brought th to naerages of rail and indos,rial shares f tho yont the aptwosignstely to elate Of tho - urisottlement of the tr.dupteat situartOn Partial sottiomont of the ItiMf trootoo the soft coal Collo had a twoofietal .ff..on prices of industr.ai Pharos, a hioh roflorted 'the 0'1.'1 Of investmitnd Luring, whtie standard rail shot,. ront:nuo4 to be aoromuistod by large intorosis end arith, drawn from the mrket,,thereby diMintshMg the floating aPOIY Basic hadustries cont!nued to la bard hit lahor disputa. proltio by the nation wid lion of thotnited Ftatee Ftool. Corphratton toeing reduced to SS por rnt of capatliY aa comparod with 4S to iS por rent tho profit before grith corresponding reductions in in Failure Of th '. I the: for 4- ' , Pros-Wen-s me r, yr x t I , (Irani r" , vet till - i ae- - ' scremot G.T-n- i 6. i Fftl' 1 frc T''"r,e' ,sn,.. er trle YORK Aug 1, ra!!road rrior!ga roc, -- of !eirol It kr...owl Pa,lfe L. ar I Pla!Issas York I. n frat. '' - - '", l', 71a .t..r. ', s i th, ,..Granl W$ - ,tti Li weak gt, t,. mula Ti,,t, 3t, ' PAT berts btesay, 4 i i toL,Itt I h ,t!;1', :S ,,,) ,q, , , .,,,, t ,, Ai ..; ..,, o 3 ,t1t II; ,,,,, ,diggle. - .44 . - 01.11. . I, - p. 1 ,. t ' - ifyifte. ' 4111, 04 040, 1.6. II . .441 o Ili, 8Rea.1 I , g Mortgage Estate, Bonds 87 An Investment Opportunity That Combines Guaranteed Safety and Highest Rate of Interest I .. H 111 I I I I rr thretm,n!h anti I Semi-annuall- rils. I I THINK OF IT? amalu:r1 -- - c-- 5 - m Suite 206 It Bldg., Salt Lake Clty, Utah. iroPkts give isuointlese. emirs sad lag gall,of ataek m au atteksJamd Seoigints Irl lit Mat interseoustain o: 4k anwo Oa an. aiatio KC estis. $2. 6 Mos. SI. 3 Moo. 60c COPY FREE SERTEZ SALT LAKE CITY, LtTAH WESTERN MINERAL Dept. D. U M ,, E- 1- 6ag Ia 1 ,, 414: Y,, it lit t,,,,t,',-- rrc 11 'tit.I ' Trestle InveostacItte ' . I rt.- .:.'.,?;,.e.c.,,i f-- - ba ' .1 :' Main ' fla Ilt BUM . Zt 1I s i Comp tty 1 which is operated , E . , - Yr. '1, We will be pleased to send you our regularly monthly letter on financial conditions. If you are not al on our send us ready mailing list, your name and and will address, you recelye your copy regularly. - - Western Mineral Ia-.a Survey 1 M g - Phone Wasatch 2830 E & SOCIETY. c Preeldest &Data leas. atm. Ike H assist in locating information desired. You are in vited to take advantage of our complete equipment and to thus provide yourself with data which will assist you in the most profitable investment for your funds. Stack. It tesirs H es quarterly on Marta Interest payable IS. SePt IS and Dec. IL jun.dollar In neat invested Seery wives. I or security, we cordially invite you to use our fully equipped investment reference library. library will be found at all times a complete statistical service, treating all subjects connected in any way with investment through the purchase of available in the market. ,Memthis bers of organization are pleased at all times to E. bol N M Shares 1100 tact". Chet& - E ( The employees of the Central Trust Company will be most willing and courteous in assisting you to find the information. We want you to know for yourself the principles of good investment and the fatipg of various securities. 77rreakirr ppm PER 7 m-," rit11.1 PRUDENTIAL SUILDLVG nal. , sec-uriti- Con or writ. for particular& , -i- you desire inforW HENEVER mation on any investment kji", . snort-gate- tiaranteed Securities ,Co. to. TITTrillfg$7:7': ki-97 La, . Off1111 I.....W.23 J,;;,,Alroar Use Our Investment Library ;11.17:3 ,r Goa Loot its - yylmilliply,,,1 In our reference See Z. C. M. I.'s Advertisement page 5 te hnillitilli:4,tf,).,.- - FREE Other attractive issues, secured by felt and city properties. Investigate our monthly payment plan. All inquiries promptly answered. ---- 410 . N Saltair Tickets I Will1111111111;0t3rL ;: ,-.- IIIM11111111EllEMMF Maturities From 1927 to 1936. iilliasiiiii bit elOCK. tt Pa111-a- p - 21 . ,r,t17 andne it Ifis non bolus efferot hoy i!tor &alto to pay fr it at ,ho floe of ' I cnt a th ab37o, this bo!rs to snho r.mpatly Tn.nt .n 1 oNery,h!nt dobtodness wl,r4 for some dol..,lopru.nt work fh who! :''.1c,hrlt.p a fro:eh batant t a thonsh, that thosa ter appoaran-Pror,' .k who loot th.1. th.r fa!lny. win take stlstato pay tho tar IS ri4i.Vi,i it. tags ofD. tIia ely - Ph. of the comH. 'no. Ihnt wharehotirs pany. Is near -. r .ran herodeornits theh lad &sates. ;stook which ea stud ;:r;; j I novroN WOL M tRK ET BC$5tTON. Mktt Aug 14 ...Th. Cornrntr- r, ,,r,,,,k - eta! Tits:lettn wt!! gay: . . The stesand 1,r eool,,1145.carlitaileci, ett 4; irresirl4r geoe. with melerata aril interest mere ...o, -,- ,3.,WII for tht mt I diorn grades. altit, ,ch nnt gristles lia,e, tot Medium awl tine I boon altogether ri, e.erted Oa 0 . ,., Th gene YrIPK ttote. t.eytte ee.tt t.net Ole hett that they hee.1 I .4 ritilter,-Aftt- e tn oveo,, of to-- ti !rein leeti it ri,,reao, of $1.?&O tie that account b,ught !a ty toU. ,i y. 4: 2 eiritAttlIPA. , II t itill 0 A,te, le . WE FAT KAi fl. irra1ntl c 11-- -- Bar I'lvei. Yttl !) Tt.e Nev, b ) Aus in -- At h.. tho cora aotaoarront on th Wit os her.' corrapnr stook t & aCiihad JUdirrilont h .isht tha, ',took company and tt gstwi ',..,nnuont on May hatt These Bonds Offered Subject to Prior Sale at Par and Accrued Interest, to Net 8 Paid , ,. 5; , (Special Secured by improved real estat6, near business and railway center, Salt Lake City. Appraisement, $75,- NO; income per month, $770. Additiotially secured by monthly deposits held in trust by the Columbia Trust Co. Fire Insurance and Policies issued will be held in trust in excess of the total bond issue. I SODS d-D-Striith at That South. - I -. Wasatch 455. .,04 Mrtft ores Insuranee Reel Estate - , Er.- 1 0 giittlINS111111111011111111111111111111WINIKHUMINMONIIIMS1110111110111111111101111111111M1111010111101010011111110INISMMINSUOIMINSIMZ , . ' ,' rr',03 UNDEFENDENIK N'tor IC1401.rol-rtCAN NOW MEDI Issue of $35,000 - .4''!'A - 1;1i EURIETCA. ,,,,sp,,p '' '1,v L.INTEML.NT. t' e s. nat i'4Yril tril - 't IC : 4; Chtmt , rA 2 .1 'AI 1. 'at!! :1 per s:WW" a .''''''''rt',4, ' '"I"g st!sfy the A,Ir rer ,Z I r,t ,44 a $17,000,000 and ' , Member Federal Reserve System t 4-- 111Vg Nilfrtt, . - k t,t, 014,4 other Liberti tautt. heid I LONDON r al Walker Brothers Bankers Resources Over II It r, --.nrl.. csit thrns! nig r:y 0., ,',; rert!,ra Inr,rk voth a r'rit ,e r..k ',' vgl'i In ' , , Established 63 Years aat st . 't.,,ph.T.sa s,,, ,....,,c, :,,,, !ha '''';'5-'''- ''''" " - . in to keti th- ,- of this ''''''''''. e :7,F,,- ..i ''" ' ' t Thirt Iffti, v. advance ,' '' ' I., ate tsrearearna ',et, ;eerier th ...,anT,1 thr .". F. 4, !.... , - E Iv f. A. I l'!, '',,K rt- Ltttlo atctIvity trok fita-- 0 an4 pt:1,1c uttt,,a art- an "t,r, .!" ' , rt,11, of 19'1 Ita ft.rfatral ,.,:- f ' - ' '' ,,, . ' group thl foatura of at Argnattna IS rfotlk, ta 4vantd fra,,Inatar-trIallterrstaisin is.. Esiat n;rtf,a.! ',WhII et, - r. oatagn qero --- -- ,", ' It : 1 ronr .:y. rnater a pe,per,tes df tbd '..n--ar- sar-,:- - ttr : 1 lz - during youLabsen vet i the -e In ossler that chana,0 rs. hs.:wird r:aret - t i in Eur'Y r r't ef It MAIthirT. BOND x Ellr Ise14 Company M,, 227 1201,11. :i ,,, s F,botantial itlaw e 'c to,titY .v. tt'. des.lopment brirs !a on the New go 1: f , Grea' Norlacrn 711 le,rpe Norttlk & Mcw",rn ,,,,, - illed on I 21 inprEdo,4 - r - ! ,..ted. !mt.'. premien, to resch- ' r,tarv ions Itpitied an irretruler tree f 0 !h foro'gn..aHEBER J.- GRANT & CO. ,thattlts fiermen meek teittnat to the ev,-trcma lor of a hundred. Or shout oil cents tele.. the,i,rate of. & week exe., --- It:mines' in German ochanse hie t4ch con- f'neri Alrilt General Agents. III,Te!, !,,, neti,atorp, ,,,,st of th commercial hoe nese with 'het ccuntry now be:rts conducted et, a dol'ar boois ' Salt LakeCity. flro ter- continuo, I, upp:y senecolit in ...cress 0..f the detnand Tit). esbiains n oott the stce4y rise in !gatoncssaldsmaraiscsa A rt,arktd- decline le soled tn. bond prices new hond offer:ore, but two tare. pre-- ; ferred stork ;,,,,t ,,f to,1 known depart.: Monte than 120 000,000 in the nation's ter- -Maims it:treble Valance trade meet Steles e-- rt July as r Om'toil tole& . pared with a year ago .111 help the In- -the CamsTtuatton. 1c:hangs TRADE BiLINCE actorcrn. snares dpartmnt declared toile! ID a state- reductlen of in era snaking pu ite the results et the WAFHINGTOS, Aug- IV --an - !of insurance 4 ,' k r ,:e rh e a, rr,' f , sat a naa : .. IrT'It the Valt.:, or HI CI,Larig,,8 4!I 4FIRE i rt'ar,,Y11-1,Y ' II.IIe .1 y cot'II 4 ' , O., tna'e - trot!i 1. ' i shows-,activit- coun- v.111.12 1 Grand Central Cutting in ISI 044;ra Electrical liroist ,,,,,,,g6,,,4 t,..,,,-- a ,,,,a,,,,,Tnt4 NY'rug 4 7 ' - - ' - - à,- , we may help , ' ?A: 0.1,1., r, ir I! .L422112. taii,Y N. :1g 1,1 tr! 1 - c ls-Aril" t h,", et,na g!ane &II: ...,1,!, t'lrought and heat ner,,, . ,.. 11,, n t , : , afterwertie to 4 brp u: .a.k.s, pst Menday, t"Slt,!:,-ei "e he h "HI!' of wheat ate well lee of r ,f e, j ,,..ca. 'l , a- -"! !,,i:-ro- i an I w ILI n on ; wheat fell in alue again c ' , ; ,, rr,,,, s't' and coo!er tf mntra L.,'s,, rs''s',Is ettls,p ' tufo t ,,, At thta j,r1,-as to ;re and .; .;, g ,, ,..,,,,,.. ..,1 ,o,at,,,,,,, ! '1111C'retaIi tl'; herhhe f ,..- ','I'''ec-to- al referp' of 'oh,' et.ts4 , oyeratltne il! , s rtlsf f s'ir,,r ,st 4,,,ns P.so. est,ected satrismtr.t 41t ,t. , ' .,-,. t, s c,fasi rotrOrgt! che t,,,r1wh ferne a hotSsost, pis first I ! iIn rra"le or effect through l'ra !' c''' c '' "tr , ot'be electrfict!,,,,, the sp7'.rif wheat ern, w as r, :' 6,.: ',,..i i'l",, It, lyw urder wee -- -n be coon roving in co,unl,,, Is sinloI, li,..ss OrifffIll --,'Air,s Weather con41!on tu 1 ' - , "r: - r,-- n fchi-- e r - iLpmot st ,1 rII ' ''''-.. ket- ' '' DelP!to eel,' a',1 ntrci I -.r s,.ss cf the 11,,,t, tan an- , , ... f s ,,,.. ,,,.., tifilOt rttrItaiTIO,i blAi'lII fe!led to i'; en!thet net damage by rlr',It- !' , c - IFI111.41-',Ens t.stn Iss,i. IEn"..r -, ..sP ,,,..-.- , n,Ensitsd rriss. sassl t',t and I '; - - ill II , ."- al Our Trust Department is equipped to act as administrator, guardian, executor or custodian. of property to, flu. , , w,.. : I 111 pii ,,... f thfel, 21. 111 ill I, , , any agreement in regard ',, etil aftstre caught the a ha,. ,:, the it,nestie tedustr,1 c,,. , sicolonly nneertin, the r4 4 merit la parlieq,ar and hJyr e- -, to be restrtcod who had been on the and wet. tn p Surolegontly, wIth efa r. wtth ralrotd trout, wheat rnatlgrl ra:ded betel:alma rnmit.tio. '. ' , ', t.!vo, Your trust areement ;,,t3 , - ,..4,Ib ',-- l',...V 1....'--..,....4P7r., ...,,, ., ' a .431 ':,-t!- 1. Lra,t& 4. 444 i,:: ore quarter ...1 7 , an.1 - !1,4:4- 44,4; 0; 1.!,,N1 '.., t. :41 4 - this bank trustee. A, 0. t1 :,,I ,t ..! te,- to mrtlisrai - iraldwer-vg-ttr- t i - ,kat ,.,ric. 'aPtirentic , t - , 1111 be strengthened by naming fctrk 4,1, 41e 4.1,. ,,, n, r , I - qt.tf-- t fr. A. - ." at! Nes, - 4P- - r" : tFt ' al a a ate eft lie to ocl.t broad-rnini- i this Ito to tic. . Insure that your loss will be made , - Corr,pirrr-giTimorning woe- 21 ' ( i , lt ages of fire. i , , CHICAGO. Aug It wet vzinen. age Week, 2 ' ban ender 21 a blobs, breakdown of the Inter-al- ', - , rft,trrrq,! .11 A - , Apartment BUildings i ' H Wheat Price Depressed. ; ;T'W I ' A. I ar raporred ftrrn. at Literp.el Itte been ad. Tn- trri A,rert h nasaage oto the Arldtd, I t - r , consumers of e'e' are likely to bccome ursra. Vi'ecaCy bank clearings. le t , - th- - heirtfui ,es t tr- hausaehs!al 7,800 ; stale t tr, , - pto i ' t. rat, : - ril Trustee You Can Trust tir - , ''... ' vy teen In better relt,ert he' 1 - 011 i 1,1 uTAn ',rt , ---- f i..., Grain , ,, t le n,ent prospects, there flare, crept to the rutet cheerful toms to be neticed It trede ilia to current reracrt -tlearr.--ese - 1 Tor eirentent end the uncerl.a,' Ilerk railroad s:r.v., in th tor this Batt .n .',, Or0,ement bads fairas tosaeti .r .merharo not so slow of slow Nostra..., ,th cfrect tricreaomc-haii male ,a,a the ralle as Witt. ',exact indeed, he Mot a Its ti,, n el eta' PriOrity troy ;novo, -. leodiny 1,utitatrtec notably wttr hare Yuffeted Moat f e are les whirls but . shortage, '' -- .... orstnute Wass tat all sal all nomi. AVE. naore,as, Vial le tho outlook for the of trade and industry. bee e the better. owing to apart- ed fCs' ... St. thang snApoirrumrs TraRIC, wlii say. !' i - olckAgitleaofr.,, 74' Colton ,,,....... t ' . Ell, ll A. Stocks Bonds rri litt 1041ft Lill m E, 1I 1 sicorid. I '.:Piq OF INVESTMENTS SAYS BABSON tim,41thotlY latirritityty. 1 lief! II ail .. ... titr:rdpartemoratht , and tho torttigh trod of I't i . for July its compared with .1,.t Invegtment rho doettiod reduction in ,n . ,f.,-',' ta!,la 7trado balance from $141..d06'. ' 't E.t.e011.4441 for July. the d.P."r,' man. 1, earal to Ws '1.eitIts . norrmoe to return gradual i and init,fp lb.tnoort our airports .,,, hasa a berteficia.i. tti,bound -. '' international oachango ritual...ortNorto fo r .1 ,.' i ,t, Commo.dty , 'lel, OS') 406 altatn.t 4311..66.4 v in July. Ian gatnt I., ."iellitd, US- fótitr7-.-.-t,, 4, tilfett pritrato witWa to; n.i. I leglisa tig Mine cluing. lidocntiere SALA Lake r (Tre I 1,10pc., ,n, 65,!:,)); I r,. ;,' 11,,4 192 2 1 Al-t;US- - 111,, Inor00004 hottells1y . for rod tries forties 04,411 E22111111221221ratulatizzallanzg T SATURDAY NEWS THE DESERET zri4; . e |