Business: In General

Memorable, last week, was the midyear statement of American Locomotive Co., made public by Chairman William Hartman Woodin, recent Smith convert. Net profits for the first six months of 1928 were $1,502,702, as against $2,485,784 in 1927. "Locomotive buying," said Chairman Woodin, "is at a low ebb."

Memorable for U. S. tourists in England was the declaration of Charles A. Penn, vice president of American Tobacco Co., that a factory will be built in England to manufacture American cigarets at low prices.

Memorable was the defense of the penny as a buying unit by Emile...