New Britain Herald Newspaper, September 4, 1915, Page 11

g i . ANKERS EXPECT GOOD FALL TRADE Confidence in Home Afairs Is Everywhere Gaining (Special to the Herald.) New York, Sept. sense of relief developed in financial Tircles when it became known that Germany was ready to conduct its Submarine warfare upon the lines re- . quested by the United States govern- ment. This welcome concession on the part of Germany was naturally gratifying to American sentiment; -/ &nd has, it is hoped, permanently re« moved all serious friction between the two countries. Details may re- Buire time for adjustment, but if the present spirit of conciliation is pre- served on both sides, all fear of a serious rupture, or becoming involved in the war, will disappear. As a danger point, therefore, the ‘Lusi- tania” and the ‘“Arabic” incidents may be considered as safely passed. Confidence in home business affairs ie everywhere gaining, and in the best banking circles there is universal ex- pectation of a good fall trade. Things in general appear to be on the mend. Trade and traffic are still below nor- mal, but the tide is rising. The hanking situation in the United States was probably never sounder or more satisfactory than at the present moment. The new banking system is working smoothly; and the danger in this part of our economic machinery is more in the dijrection of over- ¢xpansion than in contraction. Ac- . cording to a reecent statement by the comptroller of the currency, the | banks of the United States have it in their power to expand loans fully $8,000,000,000. The present harvest equals and is even exceeding all ex- }€ectations as to quantity. Wheat, eorn and oats promise to surpass the Jcarlier government estimates; and the ‘only drawback in the grain outlook is the reported injury to wheat from ex- cessive moisture, also the certainty of a rush of wheat into European mar- kets when the Dardanelles are opened. Wheat and oats will be record crops, and corn nearly so. The cotton outlook is, of course, un- satisfactory. While the situation has heen changed by the placing of cot- ton on the contraband list, it will not materially affect exports since ship- ments to Germany had previously been almost suspended. The yield this year will undoubtedly fall con- siderably below last years's crop, which will offset the loss of exports ot about 3,000,000 bales to Germany and Austria. Fortunately, there will be no difficulty in financing the crop. Our own financial abilities, as just shown are unusual, ard the offer of the Secretary of the Treasury to loan $30,000,000 gold to the Reserve banks for«advenge -on-cotton - assures the South ample financial accomodation. Stock Market Reacts. During the latter half of the week the stock market showed decided reactionary symptoms. This = war partly due to the desire to take profits on the recent liberal rise,. partly to . the uneasiness caused by the exchange situation and partly by renewed for- eign selling. As repetatedly intimated these advices, the crisis in exchange 1as become more and more acute, and is now perhaps the chief element of distrust, At one time, sterling fell as low as 4.50, followed by a partial recovery; although some experts were predicting even lower rates, This amounted to a discount of about 6 ’ per cent for exchange on London compaxed with 17 per cent on Paris, =19 per cent on Berlin and 26 per cent ‘on Rome. The cause of these abnor- mal rates do not need explanation. | That even greater uneasiness does not ! exist, is due to the fact that a num- ber of eminent British bankers are on the way here for the purpose of making an early adjustment. Thy Tush of enormous war contracts continues, ‘and provision for their financing is a very urgent. necessity. The excess of exports over imports, which amounted to $1,000,000,000 for the year ending June 30th may run as high as $2,000,000,000 when the calendar year ending December 31st §s reached. The only methods of set- tlement @are either a return of Amer- ican securities, imports of gold, or the placing of a regular Government loan > by-the British Government. The best method to adopt is to issue a short term loan, say for two, five, seven and ten-year periods, which would be most likely to succeed. The shorter term issues could be, I think, placed on a 4 1-2 per cent basis, while the longer dates would require a higher rate, say, 5. per cent; all re- deemable in gold and to be free from taxation. How the average Ameri- ~ can investor would take such a se- curity is somewhat problematical, but many of our flnancial institutions and our big capitalists would undoubted- 1y subscribe freely now that the dan- ger of war.with Germany is passed. British credit has not yet been seri- ously strained, and seems abundantly “able to finance the war through the end. Yet the danger of overcrowding this market with excessive foreign chligations is not to be overlooked. The coming of a contingent of Lon- dor’s ablest bankers to adjust .the exchange situation adds immensely to | the prestige of New York as a finan- ! cial center. It is an epoch-making event; and, while London’s pre-emin- Sence cannot be questioned, it has been temporarily weakened, and our own permanently strengthened by these developments. Jmports and Exports Injured. So much has been heard about the extraordinary increase in our export trade and the phenomenal increase of exports over imports that the de- moralized condition of our foreign trade has been overlooked. The fact is the war seriously injured both our exports and our imports; the harm done being overlooked because of the falge glamor created by big ' 2] 4,—A decided } .Hemp, flax and mfrs of, Cheering Crowds Meturvzvfifs of Arabic on Their Arrival in New York ARABIC In the accompanying illustration & group of survivors of the Arabic which was sunk by a German subma- rine. The photograph was taken on the arrival in New York city of the steamer St. Paul, which brought to this country many of the Arabic’s passengers. When the boat landed there was a big crowd on the pier, and the crowd cheered as the Arabic prassengers eame down the gang- plank. In the accompanying group, _— munition orders pressed upon us by the Allies. There is no real pros- perity in the latter; and it is a grue- some spectacle to see Europe spend- ing billions and billions for destruc- tion, and ourselves also strenuously aiding this destruction rather than following productive pursuits. Some idea of the upheaval in our imports and exports can be obtained from the following statement of principal changes during the fiscal year ending June 30, 1915 and 1914: markets. It is to be hoped that im- ports will also recover. suffiicently to prevent the exchange problem becom- ing still more serious. Towards the close the market was reactionary owing to profit taking, to renewed foreign selling and to the exchange situation. The approach of two days’ cessation of business also tended to lessen activity. August was the most active month on record, except January, 1910. HENRY CLEWS. R S — 1915 Increase or 1914 Decrease EXPORTS. Agricnltural implements Horses and mules. . Breadstuffs .... Automobiles Chemicals, drugs etc Copper. Cotton, raw Cotton mfrs Furs . . Iron and steel mfrs Leather Boots and shoes Meat products. ... Mineral oils . Tobacco .. Wood and mfrs. of. Zinc and mfrs of.. e Art Works. - Breadstuffs E . Chemicals, drugs and dyes. Coffee ... ¢ Copper s Cotton mfrs.... China, etc.. Fertilizers .. Fruits and nuts..... Glass mfrs. .. Hides and’ skins Rubber Iron and steel . Leather and shoes . Meat products .... Oils y Precious stones Silk ‘and mfrs. of. Wines and liquors Sugar . 5 Tea, 5 5080 Tobacco and mfr: Wool . . Wool mfrs. Cotton Losses Heavy. It will be seen that the greatest increases in exports were in bread- stuffs, horses and mules, meat pro- ducts and automobiles. The most important losses in exports were in cotton ($234,000,000), in iron and steel manufactures of the more expensive character and in agricultural imple- ments, Turning to the import side of the account, we find that nearly all the principle items show serious declines, especially in silk manufac- tures, cotton manufactures, linens, copper, precious stanes, art Works, ete. The only increases of any im- portance in imports were in sugar, wool and rubber. These figures prove port traffic has not been generally ap- preciated. Its effect upen customs revenue is important, and if con- tinued will next winter force some new form of taxation, and possibly a readjustment of the tariff. Under the gircumstances, it would seem folly to cut off the $50,000,000 of sugar revenue, which has always been eas- ily collected and slightly felt. The returns of foreign trade for the next few months will undoubtedly show much larger exports. A good demand for our foodstuffs is practically cer- tain, and their outward movement will soon begin. So, too, will the large shipments of war munitions, which up to date have been more or less restricted. A very satisfactory element in our export trade is a re- vival in the foreign demand for legiti- mate export of steel prdoucts to vari- ous parts of the world, including South America, which had ‘temporar- mmid Lmports and the overwhelming ily withdrawn from the European ..$ 10,000,000 76,000,000 573,000,000 68,000,000 46,000,000 99,900,000 476,000,000 2,000,000 00,000 ,000,000 665,000,000 24,000,000 206,000,000 134,000,000 44,000,000 50,000,000 21,000,000 IMPORTS. ...$ 18,000,000 . 20,000,000 84,000,000 106,000,000 20,000,000 46,000,000 8,000,000 10,000,000 61,000,000 44,000,000 4,0 00,000 104,000,000 87,000,000 23,000,000 30,000,000 43,000,000 5,000,000 15,000,000 98,000,000 13,000,000 174,000,000 30,000,000 31,000,000 68,000,000 29,000,000 e — that the demoralization of our im- | — $22,000,000 + 72,000,000 + 408,000,000 + 35,000,000 i 32,000,000 4,000,000 165,000,000 33,000,000 27,000,000 146,000,000 610,000,000 51,000,000 14,000,000 ,000,000 ,000,000 17,000,000 143,000,000 152,000,000 54,000,000 108,000,000 400,000 19,000,000 47,000,000 ,000,000 21,000,000 10,300,000 26,000,000 29,000,000 7,000,000 63,000,000 18,000,000, 10,000,000 53,000,000 20,600,000 + | +++] — $17,000,000 16,000,000 10,000,000 4,000,000 20,000,000 24,000,000 2,000,000 13,000,000 21,000,000 9,000,000 4,000,000 16,000,000 11,000,000 9,000,000 8,000,000 3,000,000 3,000,040 18,000,000 37,000,000 7,000,000 72,000,000 9,000,000 9,000,000 $ 35,000,000 36,000,000 94,000,000 © 110,000,000 40,000,000 70,000,000 10,000,000 23,000,000 82,000,000 53,000,000 8,000,000 120,000,,000 76,000,000 32,000,000 38,000,000 38,000,000 8,000,000 33,000,000 135,000,000 20,000,000 102,000,000 39,000,000 40,000,000 from left to right, are Aubrey Gulater and Chris, John and Jack Martin, known as the Flying Martins; Mr. and Mrs, Philius Collier, W. E. Ramsdell, | John Critchley, Mrs. W. E. Dunlop, Teresa O'Farrell and Claude M. Roode. Personals Herbert Baker will spend the holl= days with his mother at their sum- mer home at Saybrook Manor. Mr. and Mrs. Albert Swanson and daughters, Lillian and Sally, will spend Labor day in Waterbury. Chief Robert M. Dame of the fire department has returned from Cin- cinnati, where he attended the inter- national fire chief’s convention. Roy Buell of Pleasant street spending” & few days at Westbrook. ‘Willard Andrew of Pleasant street will return next week from a vacation spent in Westbrook. is Albert Buell of Pleasant street is to spend the holidays at East River. Mr. and Mrs. W. L. Carpenter and Mr. and Mrs. A.,N. Rutherford and family will spend Labor day at their summer home at Chalker Beach. City Items St. Elmo lodge, K. of P., No. 21, will confer the rank of page on three can- didates on Wednesday evening. Candy at Leonard’s, Special home- made chocolates, 25¢ box.—advt. Bargain week: Clean up sale at Besse-Leland’s.—advt. Miss Elizabeth Cotter, who was in- Jjured by falling from the veranda at her home Wednesday, is reported to be recovering at the hospital. Alexandor lodge, No. 4, 1. O. D. of St. George, will hold an outing at Lake Compounce Wednesday after- noon. Dinner will be provided for members at 5 o’'clock. ~ All members 15,000,000 5,000,000 53,000,000 34,000,000 o B R e T Green Con—How To Eat It, (Battle Creek Moon-Jaurnal.) The world is able to classify a man by two things—his table manners and the style of his hand baggage. For instance if in your travels you en- counter an individual at a hotel who can cover his knife with mashed po- tatoes to the hilt and then get them all off without injury to his tonsils, you immediately have this man’s so- cial number. On the other hang, if he carries a canvas telescope ar ‘“‘knee knocker” reinforced by a part of his wife’s clothes line, then you are also able to classify him properly. You may have an inkling of a man’s ‘“bringing up” by the tools he chooses in eating his pie, or by the manner in which he muffles his ex- haust in eating soup. Yet when it comes to green corn, every known rule is violated. Some ways for eating certain things are planned for economic reasons. Thus the country hotel keeper serves his olives in a bottle and expects you to get them out with your fingers. He also furnishes you with possibly a grapefruit or orange in the morning and expects vou to keep your ears clean with a paper napkin. There are recognized ways of taking soup into the system and these ways all call for a limit to the noise zone. But when folks, even the most re- fined folks—folks that won’t even per- mit a poadle to sleep with them—start in on their boiled corn part of the menu, past precedence is thrown to the winds. The book of rules is con- sigifed’ with all other etiquette to a warmer place and every man is con- tent te get his corn off the cob in the fastest and most convenient way in which he is able to averate. Post Carpet Company 219 Asylum St.,, Cor. Haynes St.,, Hfd, Store Closes Saturdays at 1 Until September 11. VELVET AND TAPESTRY RUGS 9x12 SIZE GREAT REDUCTION $22.50 QUALITY Now Marked $18.50 $20.00 QUALITY Now Marked $16.00 The above are samples as to how the mark-down runs—and the pat- | terns and colorings are from our reg- | ular stock—they are choice and just | the ideal rugs for those that are look- }ing for fine rugs at specjal early sea- | son prices. ! d HARTFORD Suits for Stout Women a Specialty. FROM‘ THE RAW MATERIAL TO THE FINISHED PRODUCT. Every morning several thousand of the most particular male persons in Hartford and vicinity get up and into H. 0. P. CLOTHES, Every man it has been said, looks like an untrained primitive when he gets out of bed, and the magic of Aladdin's lamp is no more wonderful than the dally miracle of transforma- tlon that H, O. P./Clothes work in the masculine appea'n.nce- In thousands of homes the un- couth lump of human dough that ‘tumbleg onto the carpet in the morn- ing—dishelved and uncombed—is refined into a clean-cut, eye-pleas- ing man through the magic of good grooming and H. O. P, Clothes. $14.98 to $35.00 intending to go will leave on the 2:07 car from center, rain or shine. School, shoes that stand the test. Damon’s Shoe Shop.—advt. Special home-made chocolates, 17¢ 1b. at Leonard's.—advt. Miss Mildred Anderson of 14 Law- rence street and F. A. Lawrence of 39 Hungerford street, Hartford, both driving automobiles, collided at the corner of Elm and Church streets at 4 o'clock yesterday, No one was in- Jured. All sorts of fall hats for anybody, $2 and up at Wilson's.—advt. The fire department was called out late yesterday afternoon by an alarm from box 37. Smoke seen coming from the Dwyer house on Beaver street gave the impression that there was a fire, but the trouble was a back draft in the kitchen range, forcing the smoke into the room. Bargain Week Sale Children’s Blouses at Besse-Leland’s.—advt. A valuable horse belonging to George Smedley was killed by Dr. George T. Crowley this afternoon. Candy at Leonard’s, Special home- made chocolates, 25c box.—advt. TUESDAY GOETHALS DAY, San Francisco, Sept. 4.—In honor of Major General George W. Goe- thals, who was in charge of the con- struction of the Panama canal, the Panama-Pacific exposition has fixed next Tuesday as Goethals Day. Gen- eral Goethals who arrived yesterday from Portland will preside over ses- sions of the International Engineer- ing congress to be held this month. — ‘Where is Connecticut? % (New Haven Union.) The George Washington Memorial association has started its campaign to raise $2,500,000 for the erection and maintenance of a National Civic bhall to be known as the George Washington ' Memorial building, in ‘Washington. The bill authorizing the erection of this building was passed during the Sixty-second Congress, when a building site of several acres was set apart for the erection of a group of buildings in the development of a Mall extending from the capitol to the Lincoln Memorial. The National Civic hall will contain the headquarters of patriotic, scienti- fic, educational, and other organiza- tions of national scope. There will be a number of assembly halls, the large est of which will accomodate at least 6,000 persons, and begides these halls for meeting, there will be re- served for each of the states which provides its quota, a room to be know by the state name in which it may exhibit its resources. The sum required for the erection and main- tenance of this building has been ap- portioned among the various states. Up to the present time, 41 state have indicated their readness to co-oper- ate. Forget Bible; Divorce Follows. (Cleveland Despatch to New York World) Their failure to read the Bible every day or to pray resulted in breaking up their home, declares George Oyer, president of the Pru- dential Building Company, whose wife, Mrs. Florence Oyer, now in Pittsburg, hag.filed petition for di- vorce. “I was too busy reading Mr. Oyer’s aiary telling of love scenes with other women,” declared Mrs. Oyer in re- futing the Bible charge before Judge Fearson, in common pleas court. Mrs. Oyer is seeking a decree upon a cross-petition filed in answer to her Lusband’s suit. Over charges his RICHTER & » MEMBERS NEW YORK STOCK pxon [Represented by E. W. Eddy. American Hardware New Britain Machine Stanley YWorks Colt’s Arms North & Judd New Britain Nat. Bank B Nilcs-Bem New Dg New Depay, Bristol Bras Eagle Lock BOODY McLELLAN & MEMBERS NEW YORK STOCK EXCHANGE. 111 Broadway, New York. Istablished 1879, The facilities of our office are at your disposal to buy, tain the best marketg om all listed issues and we feel service will bo not unly satisfactory but superior to any DIRECT PRIVATE WIRE TO NEW ¥XO NEW BRITAIN OFFICE, 309-310 NAT'L, BANK Telephone 1013, FINANCIAL NEWS TRADING VERY LIGHT ON STOCK EXCHANGE Leading Railways CGompletely Neglected—War Shares Sluggis! New York, Sept. 4,—Today's short market spssion was more or less per- functory, with dealing at low ebb. The turnover in the first hour barely exceeded 60,000 shares, with Color- ado Fuel the chief feature at a gain of 1 8-4 to 47 1-4. Coal shares and lines were taken up later, Norfolk & Western, Western Maryland, Chesa- peake and Ohio and Virginia Iron, Coal and Coke, together with others of that class scoring irregular ad- vances: Real leaders Ilike United Btates Steel, Union Pacific and Read- ing - were comparatively dormant though making general improvement. ‘War shares were variable, moderate gains predominating. The closing wus strong- Bonds were irregular. Wall St., 10:30 a. m,—The lightest trading of the week attended today's operations, with few changes of im- poriance. Leading rallways were com- pletely neglected there being no quo- tutions for Union Pacific or Reading during the first fifteen minutes. War shures moved sluggishly, with one point gains each for Bethlehem Steel at 285; Crucible Steel at 83, and Good- rich at 62, with a decline of as much for Lackawana Steeel at 68 U. 8. Steel, American Car and Colorado Frel rose minor fractions, and there were declines of proportion for Pressed Steel Car and American Can London’s market for Americans was extremely dull, with Union Pacific Ooff 11-4 at 128, New York Stock Exchange quota- tons furnished by Richter & Co.. members of the New York Stock Ex- change. Represented by BE. W, Edady. Sept. 4, 1915 High Low Close Am Beet Sugar .. 66% 65% 6634 Alaska Gold ..... 32% 3285 328 Am Car & Fdy Co. 68% 68% 68% Am Can ... 68% ©677% b68% Am Locomotive .. 58% 53% 6531 Am Smelting .... 81% 813 Anaconda Copper . 71% 71% A TS Fe Ry Co..102 101% B&O,.... .. 83% 82y Beth Steel ..287 286 Canadian Pacific ..1548 151% Central Leather .. 443% 43% Chesapeake & Ohio 49 47% Chino Copper .... 46% 465 Chi Mil & St Paul. 83% 821 Carar... 47% 45% Del & Hudson ...140 140 Distillers Sec .. 26% 26% Erie .. 29 289 Erie 1st pfd 45 443 Great Nor pfd .. 1181 Gt Nor Ore Cetfs 41% Interborough ..... 20% Lehigh Valley . 144 National Lead ... 65 N Y C & Hudson 92% 91% Nev Cons 145 145 NYNH&HRRG66% 663 N Y Ont & West . 27% 27y Northern Pacific .108 107 Norfolk & West ..111% 109% Penn R R .......110% 100% Pressed Steel Car 64 62 Ray Cons . 22% 22% Reading ...... 150 149% Rep I & S pfa ...1013% 101% Southern Pacific 89% 881 Southern Ry .. 163% 16% Tenn Copper 56 54% Union Pacific . 130 129 Utah Copper .... 66% 66% U S Rubber Co 495% 49% U 8 Steel 6% T4% U S Steel pfda ....112% 112% Westinghouse . 115% 115 Western Union ... T4% 74% 83 164% 45 26 “ee 28 45 8% 1 21 144 65 92% 14% 663 27% 108 111 110% 631 % % 11 4 101% 89 % 16% 55% 120% 66% 19% 5% 112% 115% 4% Experience That ¢ (Bridgeport St Bome who are older fifty years ago can e scandals that attended ot the present state bany, and a larger ni call the stealing rev: vestigation of the b Pennsylvania state e risburg. These, p most notable in graft that the hi century has furnish to look as if the G;' of robbery had . rew places, which h fore gone through he that brings wisdom in now and again instances @ peculation are rev: 2 The latest of # ing of the new parl! the Province of Mi peg. A royal comm gating the conditions the accounts and It hay upon and reported o 100 per cent to contrac ing and has unearthed fund raised out of the b a novelty in this line of From April 21 to July #§, before the elections ,p made to contractors tof upwards of $600,00 of fraudulent overpayment. one item and the conti left the country with ¢ avoid a further upheas Manitoba is a young it is coming in thig experiences at a time profits by them as it sho the end be saved a more severe run of the same cught to be enough. 3 L School or Wo (New Haven Rej To those considering that. tion whether they shall school or join the ranks of c¢rs the Cleveland Plain Cresses words of sterling before the eyes of every school age in the country. sound logic, of such direet. from experience are they, | hoped that every girl and of New Haven will read they are: “Return to school if advice must necessarily be ization, but few will questi the average case one's pects are bettered by education one finds it cure. Return to school if friends and your own can find means to accon “It may mean sacrific mean surrender of oppos gain an immediate incon appear to close certain work that now seem highl; But don’t be misled by fi | Be willing to sacrifice i the reward that is ce later, “The world wants trainel trained women, able to sponsibilities, of directing wants leaders in every There will always be lowers; the demand is pable of leadership. 1 school and the colleges opportunity for young | women to train them highest part in the wo! are capable of perfo “Return to school. rifice if necessary. nership with things wo h advantage of the machinel provides for your own del The clearer vision of more than justify the p If that dosen’t convine shown to some person of and his opinion asked. An son of mature age, whether ed his schooling, ‘or left scl to work, wil vouch for its} < P A STRONG, RELIAB, Executor or Administrator. CAPITAL $750,000. wife with neglect, while she charges him with cruelty. M. H, WHAPLES, Pres't. Connecticut Trust and Safe Deposit Co‘ LE CORPORAT ION organized and qualified through years of trustworthy service, to act as' Conservator, G SURPLUS $750, Connecticut Trust and Safe Deposit Co. HARTFORD,