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TEE PINEHURST OUTLOOK
List of Stocks Suggested for
Purchase for 1920 Bull Market
XTbe flMneburst School
By Hornblower & Weeks Co.
Offers a complete college preparatory course of six
classes combined with the advantages of open-air rec
reation during the winter season. Boys of twelve years
or over received as boarders, and day pupils enrolled in
. regular classes by the term. Transportation provided
i between Pinehurst and The School.
Participation in afternoon sports required of all boys
:. not formally excused. Week-end camping trips a feat
j' ure of the school activities. Competent supervision by
j academic masters.
. School hours: 8:25 A. M. to 5:00 P. M., Monday to Fri
: day; Saturday, 8:30 A. M. to 12:30 P. M.
Address,, R. CLINTON PLATT, Acting Headmaster,
PINEHURST SCHOOL FOR BOYS, Pinehurst, N. c.
MOST RESILIENT TENNIS
BALLS IN THE WORLD
IVrfwt bound Accurate flight Scien
tific weight balance No leoseming, rough
seams seams Absolutely uniform high
est quality stock throughout the longest
lasting tennis balls for the greatest num
ber of hard, fast sets.
Pennsylvania Rubber Co.,
Direct .Factory Branches and Service
Agencies hroughout the United States.
Skirts, Coats, Suits, Dresses, Waists, Neckwear, Hosiery, Hats and Underwear
MRS. HAYES, Opposite P. 0. OPEN DEC. 1st.
XTbe Cottage School
Why not bring your chil
dren with you? They can
continue their grade work
MISS MARY CHAPMAN
Equity Stocks: (Stocks selling below
value based upon cumulative past earn
ings and capable of 1 Cruciblo ' ' per
formances). Allis Chalmers, approxi
mate value $75; Baldwin, $170; Can.,
$98 Loco., $125; Inter Paper, $11";
U. S. Food Prod., $91; Amer. Wool,
$165; Worth Pump, $135.
Motor Stocks: (Chosen because 1920
earnings should greatly exceed 1919).
G. M. which earn $8 a share on new
stock; Chandler which should earn $50
per share; Studebaker which should
earn $30 per share; Stutz which should
earn $40 per share; Maxwell $15 per
share on new stock to be outstanding
when Maxwell-ChaTmer merger complet
ed; Pierce-Arrow, in spite of fact that
the poor 1919 earnings of $4 per share
may be announced "this week; Willys
Overland; and Cleveland Auto now on
curb, but to be listed and go on $6 di
Motor Accessories and Truck Stocks:
Amer Bos soon to go on $10 div basis;
Both Mot to do twice gross business of
1919; Fisher Body of Ohio now on curb
which should be in production by June;
Gray and Davis which should work to $6
div basis; Mullins Body paying $4 will
earn $12, estimate; Parish & Bing expect
ed tog o on $4 basis, probably earn $10;
cd to go on $4 basis, probably earn $10'
Ohio Body will be earning around $7 per
share with new construction completed;
Spicer Mfg. important accessory on curb
soon to be recapitalized and listed;
Stromberg Car whicli should increase
earnings 50 per cent over last year;
Trans & Wm Steel Forg which indicates
div. increase; White Mot.
Tire Stocks: All issues.
.. Steels: (We. favor those steel com
panies with blast furnace pig iron oper
ations, since this will be a raw material
year first and a finished steel year only
until shortage from steel and coal strike
is ended). U. S. Steel com. This is
probably Steel's year. It can earn its
present charges and div on pig iron,
alone, in which it has probably a $4 per
ton advantage over its nearest compet
itor. Steel should duplicate its former
high this year.
Lack Steel will get large rail orders,
lias sound value of 115. Sloss Sheff
large pig iron operations in a pig iron
Iron Prod. Reorganize Centl Fdy of
unfavorable memory, but Whelan in
terest now in control and as a pig iron
producer has really possibilities.
Coppers: All coppers as metal ii
still at pre war prices. Ani UV best.
Rails: Do not rniee rails this year
once legislation assured. No matter
who kicks them around they should be
bought, even though may get round
shouldered waiting for them to go.
Prefer Union, So. Pac, GEN, A, G.,
Nor. Pac, TQ, RI, both ST stock, C. &
O, Norf & W, L N. 5 1-2 per cent guar
antee might mean $25 earnings.
Specialties: Cuban A mer new stock
when issued; Durham Hosiery (expect
$9 div basis) ; Phil Co. (oil prospects) ;
W W (reduced living corks will' help re
tail store organizations) : End John,,
We have purposely omitted sugar
stocks, leather stocks, even though we
think they will sell higher because iH
presidential year they will be subject te
political attacks. Oils because, though
attractive speculatively, have had tlir
big hour. Would swap low priced oils
as suggested for coppers. Equipnuente
will follow general list, but no such
dearth of railroad equipment as there
is of rails.
PINEHURST DEPARTMENT STORE
Add to Your Convenience in Making
WE HAVE UHEM
NEW SPRING HATS
We are now showing advanced models
in Outing and Sport Hats. Our goods
are all new and prices extremely low,
We anticipate an early visit from you.
Special prices this week om Sport
Coats, Skirts and other seasonable
Qualify First Grade Prices Satisfactory
Shooping Here Saves Time a'd Money
Watch Our "Special Attention" Items