Notes

American Tobacco (Lucky Strike, Herbert Tareyton, Blue Boar, Lord Salisbury, Melachrino, Natural, Omar, Pall Mall, Sweet Caporal cigarets, Buckingham, Half & Half, Tuxedo, Bull Durham tobaccos) made net income of $22,499,648 last year ($22,238,919 in 1925).

American Radiator has at its "front door" its gold-topped black tower building in Manhattan, at its "back door" a group of expert foundrymen. Both were essential factors in making the company earn $12,476,485 net profits last year ($11,633,601 in 1925).

Piano Profits. President George G. Foster's reason to American Piano Co. (Ampico, Knabe, Chickering, Mason & Hamlin) stockholders for selling $17,666,105 worth of pianos last year and making $1,775,429 profit: "The increasing demand for good music from an appreciative public, which is constantly becoming more intelligent in musical matters."

Rail Revenues from operating trains last year totaled $6,448,566,589 ($6,187,000,000 in 1925). Total net operating income was $1,232,000,000 ($1,139,000,000 in 1925) More than 1,000,000 freight cars were loaded, on the average, every week.

In San Francisco, peninsula port city, the Emporium Corp. is the largest retail concern; in Oakland, industrial city, railway terminal across San Francisco Bay, H. C. Capwell Co. is the leading department store. Last week they merged, will dominate trade among the Bay cities.

In Seattle, the Seattle Bond & Stock Exchange opened last week, the first securities' exchange in the Pacific Northwest.