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unshine factory-a cheerful, inviting Iding with attractive exterior and bright Stary interior. The old dingy loft with all windows barely lighting up a dismal

gloomy interior has passed, just as dreds of other institutions before the ch of building progress. Each year ngs a greater appreciation of ventilation

sunlight in buildings. Just as sun par- and porches have revolutionized prie building, so have walls of glass transned factories into cheerful workshops. The essential features of a modern fac- of this type are the windows, venting systems, rest-rooms and restaurants, rs and toilets. Upon each of these in e measure depends the success of the ding, the content and productive abilof the employees.

With the great tilating systems in operation fresh is continually circulating through the us while the putrid air is drawn off. Che summer this air can be cooled or in

winter vice versa. Despite prevailing ther conditions, the atmosphere inside building is always comfortable and inorating. Owners of factories who have alled systems of this kind find their Auction troubles lessened a great deal. y comment on the lack of drowsiness, the simple reason that the fresh air is nulating The use of luminous paint on the inte

helps considerably in adding to the eral cheerfulness and cleanliness of the blishment as well as aiding the efficy of the worker. In building the lern daylight factory the contractor s to avoid as much as possible the neity of artificial lighting, It is not so long since the construction factory building merely meant the tion of four walls of common brick

a suitable roof. But times have nged, and to-day the building of a fac- is a task of skill. With the breaking y of the old idea of building factories he commercial section of the cities e time and ingenuity are spent on the rior. It is designed to be in harmony a the locality and not a blot. Attractive -, face brick, imposing entrances, are I to make the building dignified and

to look at. Much of the dirt and ke connected with industry are being inated and there is a noticeable imrement in its architecture. Very often

difficult to distinguish the building as actory. Gardens and other exterior hes have helped to make it a harmoni

addition to the general building eme of the neighborhood."

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We're no longer a nation
of "red-blooded Americans

- Scientists say
One in every three - rich or poor suffers

from malnutrition
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ED-BLOODED American absolutely essential to the nerves and brain. in that phrase historians and In foods of protein, starches, biographers have summed up

sugars and fats we must also have these the attributes of strength in organic mineral elements. They're vital many an American pioneer and leader.

to health and growth. So Nature put Red blood is a synonym of health and them in the whole wheat grain. vigor; it is the nourisher

A delicious whole of human life.

wheat food The pale cheeks and

Thousands now draw from pallid lips of millions of

Nature's larder the sixAmericans today, the lack

teen vital elements — in of vitality and vim

The 16 vital elements

Pettijohn's, a whole wheat often complained of, in

of nutrition

breakfast food of rich and dicate, authorities say, a

Oxygen
Hydrogen Chlorin

gratifying taste.
deficiency of certain food

Nitrogen

Its steaming fragrance elements our blood and

Sulphur Manganese

awakens sluggish appebody tissues need.

Magnesium
Phosphorus Iron

tites in young and old. The 16 vital

With cream and sugar it elements

makes Sixteen natural food ele

ration of luscious nut-like ments are needed to keep

Each grain of wheat contains flavor.

these sixteen vital elements.
the normal human being
Read how many of them are

If you have been feeling
strong and well.
lost in modern methods of

below normal in energy And in the wheat grain wheat preparation.

and vim—try Pettijohn's. Nature provides all of

Only when we get a sulti

If you suffer from conthese elements in more

cient supply of all these ele

ments are we filled with that gestion of the intestinal nearly the proper propor- abundant vitality of “red- tract, give this food with tion than any other food, blooded Americans."

its natural bran laxative save possibly milk.

a chance to set you right. But many of the most important of If you have a child who does not these are lost in the modern methods of radiate health in the sparkle of the eye, wheat preparation, through the removal in the color of the cheeks and the full of the six outer layers of the grain, com- development of his body-try Pettijohn's. monly called the bran.

Give him a chance to become a real The iron, for instance, which makes

“ Red-Blooded American.” that part of the red corpuscles in the Your grocer haš Pettijohn's—or will blood which carries life-giving oxygen gladly get it for you. Make tomorrow's to every cell in the system.

A BOY'S FAITH IE following school incident occurred in a primary class in which I was hing during President Roosevelt's AdGstration.

question in a superintendent's test in s ran somewhat as follows: An Atlaniner is coming into port with smallpox he steerage. There are 1,000 steerage sengers, 1,500 pieces of baggage, and sacks of mail. What department of State, or National Government will:

care of (a) the immigrants ? (1) the gage? (c) the contagious disease? (d) mail? his was a difficult question for my s, in a foreign-born section, "but one ht youngster disposed of it at a single w: “Our President, Teddy Roosevelt,

breakfast of this delicious sixteen-vitalThe calcium, which is the largest

elements food. constituent of strong bones and the solid Made by the Quaker Oats Co., 1626-N enamel of the teeth. And phosphorus, Railway Exchange Bldg., Chicago, Ill.

take care of them all.” K. E. H. rooklyn, New York.

FINANCIAL DEPARTMENT

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The Financial Department is prepared to furnish information regarding standard investment securities, but cannot undertake to advise the purchase of any specific security. It will give to inquirers facts of record or information resulting from expert investigation, and a nominal charge of one dollar per inquiry will be made for this special service. All letters of inquiry should be addressed to THE OUTLOOK FINANCIAL DEPARTMENT, 381 Fourth Avenue, New York.

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BARGAIN DAY \he bull market, which so many people predicted was coming universal rule. Why is it? Probably the true explanation is

after election, has so far failed to materialize. As this is given by one of the New York daily papers in its statement being written the prices of stocks, railway and industrial, are that economics are a more powerful influence than politics going merrily down, the greatest declines being registered by the There are numerous knots in our business life still remaining to industrials. Various explanations are being offered for this state be untied before we can sit back comfortably and say that the of affairs, though no one seems entirely confident that his is the way is cleared for a march to uninterrupted prosperity

. The proper one. The general public is considerably puzzled, for it fact of the matter is that we and the whole world with us are was felt that the election of the Republican candidate to the going through a period of readjustment, and somebody alvas Presidency would have a wholesome effect on business, restore gets caught in the machinery used in bringing about any change confidence in the future, aud be reflected in higher prices for Money is tight and the banks are very particular about whom they stocks. Instead, progressively lower prices have been the almost loan it to. Many businesses are seriously hampered by lack of

Reliable Bonds

IN investment bond is a tremendously human thing. Like

a man, a bond must be reliable, dependable, faithful to
the trust imposed in it, through good times and bad.

Much depends on the reliability of your bonds.
For thirty-eight years the first mortgage bonds safeguarded
under the Straus Plan have proved their reliability. Two
wars and four financial panics have come and gone,
and still theirs is an unblemished record — 38 years
without loss to any investor, and with unvarying prompt

payment of both principal and interest in cash.
If you want a truly reliable investment, free from worry and care and
yielding an interest rate that is attractive but not abnormal, investigate
the Straus Plan. We have published a new booklet which explains how
sums of $500 upward may be invested safely under our Plan. Call or
write today, and ask for

Booklet L-1005

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Back of Your Bonds are the Necessities for the Advancement of Civilization

To insure against loss in income and to aid in compilation of your income tax returns, you should have a copy of our loose leaf Security Record Book sent gratis upon request for Book No. OM16

BEHIND modern business stand the utilities

those faithful public servants which provide our electricity, gas, water, urban and interurban transportation and quick communication facilities. Halsey, Stuart & Co. for many years have dealt extensively in the bonds and notes of companies forming a part of this basic industry. Representative of our recommendations of Public Utility Bonds and Notes are the following:

American Light & Traction Company 6% Convertible Notes, 1925. Commonwealth Edison Company (Chicago) First Mortgage 5%

Bonds, 1943. Laclede Gas Light Company (St. Louis) First Mortgage Collateral

and Refunding 7% Bonds, 1929. Pacific Gas & Electric Company (Calif.) General and Refunding

Mortgage 5% Bonds, 1942. West Penn Power Company First Mortgage 5%, 6% and 7%

Bonds, 1946-1958. Circulars descriptive of our present offerings, including a wide variety of public utility bonds, and notes, will be seni upon request. Ask for circular. OM15

& . Incorporated - Successors to N. W. Halsey & Co., Chicago

HALSEY, STUART & CO.

CHICAGO DETROIT

NEW YORK ST. LOUIS

PHILADELPHIA MINNEAPOLIS

BOSTON MILWAUKEE

. With factories operating on part time -ith only a portion of their usual force mployees earnings are bound to decline.

price of the stocks issued by these panies naturally declines too, because ks are dependent upon earnings, and able or worth but little as earnings are eadjustments are taking place in praclly every country of the world. Most hem are deflating their currency and ing down on credit, just as we are do

Their inoney is at a tremendous disat in terms of our money, which is her way of saying that foreign exnge is in a bad way. This being the , foreign nations find it practically possible to buy from us. Domestic ded is low, and so is the foreign demand. urally our industries feel the effect of situation. o far as we know, no one is predicting nic. The readjustment taking place in affairs is described as “orderly,” and n it has run its course basiness and astry generally will no doubt be in h better condition than at present. should remember, however, that these gs do not come about all of a sudden ; is required and considerable courage patience. When people say that everyg is going to be much cheaper after the of the year, we wonder on what they

their opinion. Unquestionably our blems promise to be nearer solution 1 every passing month, but because the

of the coming January will be 1921 zad of 1920 is scarcely a sound argut that some sort of a Utopia is to be ized, it seems to us. he fact of the matter is, we doubt that

one can tell with any degree of certy when business and living conditions

again return to what has been debed so frequently of late as “norcy.” The thing we do believe is that

time is coming, and, in spite of diseting front-page news and the possiy that there will be inore of it, our h in our economic future is strong. 1 apparently we are not alone in our fidence. An item on the financial

page one of the morning papers to-day is led by the caption "Bargain Hunters ck to Street." It then goes on to say

Wall Street offices have been crowded ntly with men and women picking up ks on every decline. ome months ago in one of these articles quoted one of the world's famous bank

as saying that the time to buy was en things looked worst. It is not a

rule, but caution is necessary if it is -e applied successfully. First of all, the estor should be very certain that the arity he purchases is intrinsically sound. e and sound securities will decline in apathy with the market as a whole and result of general economic conditions, such a decline is not necessarily an inution of

any

inherent weakness. On the trary, when they do decline for the ons stated an opportunity is presented bargain hunters. of course they may go lower still. alive can tell about this, but declines I not cause the investor anxiety unless to conditions in the particular industry cerned. And if he wants to guard inst declines in so far as is possible the lof securities for him to buy are bonds. eks, as has been noted, are dependent narily upon earnings and Auctuate aclingly; bonds, on the other hand, are endent for their worth upon the value

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FINANCIAL DEPARTMENT

(Continued) of the property securing them, and

prose erty values are not usually subject to si lent fluctuations. For the investor obliga! to consider safety of principal and incoue above everything else bonds are alwarı the securities to buy. And as has been sai in all the financial magazines and nest papers, repeated by banking houses, a agreed to by shrewd investors, bargai day in bonds certainly seems to be with us

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Money The Sinews of Travel

QUESTIONS AND ANSWERS Q. Please name several short-term securits which combine good yield and safety.

A. Safety should always be considered before yield. The following are considered by many financial experts as safe, and in each case the yield is approximately 7 pa cent or better: Western Electric 7 per ce notes, due 1925; American Tobacco Con pany

7

per cent notes, due 1921, 1922, a 1923; Procter & Gamble Company cent notes, due 1921, 1922, and 1923 ; Bek lehem Steel Corporation 7 per cent noin due 1922 and 1923; and Sinclair Cont dated Oil 712 per cent notes, due 1925.

Q. Please tell me what is meant by the tea "income ” and “adjustment” as applied to brez A. An income bond is one on which th

: company pays interest only in case it be been earned. Adjustment bonds are reality income bonds, and are usual issued at the end of a receivership. I seldom that either of these kinds of bor's is considered high grade.

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Q. I am interested in the Harlem River and Port Chester 4 per cent bonds, due 1954. Are that considered a good investment? What is their pr ent price and yield ?

A. These bonds are a direct inortga." and a first lien on eleven miles of the Dean line of the New York, New Haven, a Hartford Railroad Company, from the Harlem River to New Rochelle. This set of the line is electrified and sis-trachel The bonds are quoted at about 65 21 yield over 6 per cent. They are considered a good investment.

Q. Please give me a list of some five or sis of what you consider high-grade railway bonds, obreda may be sold readily and have a long time to run.

A. Northern Pacific Prior Lien ts, due 1997.

Atchison General 4s, due 1995.
Union Pacific Refunding 4s, due 2WA
New York Central 34,5, dne 1997

. C., M., and St. Paul General 4s, due 192

Chicago, R. I., and Pacific General 4: due 1988.

Reading General 4s, due 1997. IF YOU EVER INVEST

send for the free booklet

“ What You Should Know." BARNES BROTHERS, Inc., Minneapolis

, Muz

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FIRST MORTGAGE FARM LOAN BONDS

BANKERS TRUST COMPANY

DANFORTH FARM MORTGAGES representas servative Loans on productive farm lands worth Sunt thau double the amount of the debt. Not One Dollar lost in sixty-two years. Interest paid promptly when due. For sale in $500 and $1,000 denominations and upward Complete information furnished upon request

. Ask for Booklet and Investor's List No. 58.

NEW YORK CITY

A.G.Danforth.&:00

Founded A.D. 1858 WASHINGTON

ILLINOIS

better way

The
First National Bank

of Boston

Transacts commercial banking

business of every nature

HELP THE PRISONERS'

FAMILIES TO

of reaching the hearts of the people can be afforded to any one ith a message than that which

you

offer orough the columns of The Outlook. For many years you have helped me speak a ord just before Christmas that may each the hearts in happy homes where rosperity makes the Yuletide bright and yous. My message is a plea from the mass that ill be sad, cold, and dreary. In former zars you have allowed me to plead the muse of the prisoners' families, those thouunds of sufferers who bear the heaviest runt of the burden when a man is put ithin the walls. There may be higher ages and more work to do, but this does ot affect the dependent women with their oung children when the breadwinner is

prison, whereas the higher rent and reater cost for clothing and foodstuffs ake her struggle for existence the reater. We want to provide for hundreds of ttle children clothing, toys, and food at is Christmas season.

Letters will pour to me from all the prisons in the land, ving me the addresses of the needy ones hom we may help. I should be very grateful if your

read-s will remember those who are needy nd help us to play Santa Claus to the little nes who, some of them, have not even ockings to hang up. The Volunteers of America is an incororated society ; our books are open to inection and are properly audited. Every llar contributed will go directly to the eed of those we serve. Articles of clothg, toys, or money should be addressed Mrs. Ballington Booth, Volunteers of merica, 34 West Twenty-eighth Street, ew York City.

MAUD B. BOOTH. Volunteer Prison League, New York City.

Make it your New England Bank

Capital, Surplus and Profits

$37,500,000

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EARLY IN A GOOD

FIELD

99

The Royal Road to Knowledge

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E have read with interest the article

entitled “ One Hundred Thousand urses Needed at Once,” printed in The atlook of September 15, in which appears e statement: “ It concerns the establishent of a school for attendant nurses, the st of its kind to be established in the nited States." We cannot refrain from When a little prince who afterward beling you that a Training School for At- came a wise king complained of having to ndants was started by the Household

struggle through the brambly lanes of learnarsing Association of Boston, in April,

ing like any peasant boy, his teacher said: 18. Preceding the starting of the Training knowledge."

"My lord, there is no royal road to hool by the Household Nursing Associa

” n in Boston was the Thompson School

This belief has stood for centuries. But · Training Attendants in Household today a real royal road to knowledge is open orsing in Brattleboro, Vermont. The Llifornia State Board of Health has prered an "outline of requirements and

CHARTS OF CIVILIZATION urse of instruction” for schools for

They are a act charted summary of the Life cined attendants, which have been suc

Story of the World—a university education in handy ssfully developed in that State.

reference form-telling at a glance the facts which built With a sincere desire to co-operate to up the world of Today. Each chart embodies the essene utmost in the movement to overcome tial facts of development in Science and Invention, P: great shortage of nurses and attend- Literature, Laws and Customs, Philosophy and Ethics, Is, we are

Drama, Architecture and Art, arranged in parallel colThe Household Nursing Association,

fection ; The Period of Adjustment; The Time of Awakening ; The Epoch of the Individual, and the Age of Attainment.

The set comprises six graphic charts 13x19 inches, printed in red and black on strong, high-grade paper and neatly bound in durable, heavy brown cover. Each chart includes a complete list of authoritative books covering the subject matter.

A New Idea Never before was so much valuable information con.pressed into such simple form. To secure it in any other way would require extensive study at heavy expense. Yet the Charts of Civilization are yours for $3.00—no other charge. Mail the coupon today. SEND NO MONEY. CLOYES-LYON CO.

108 West 34th St., New York, N. Y. Please send me one set of Charts of Civilization. If satisfactory, I will remit $3.00 in five days. Otherwise I will return the Charts.

to you in the

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| Name..

umns with horizontal divisions for the various nations.

Each chart covers a definite period, as follows: per BERTHA SHEPARD,

The Dawn of Magnificence; The Pursuit of Per-
Field Secretary.

| Address

City
L

State.

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