New Britain Herald Newspaper, October 2, 1915, Page 11

| GREATER EASINESS "IN MANY CIRCLES Funds Will Seek Securities Market for Profitable Investment (Specfal to the Herald.) New York, Oct. 2.—Further expan- apparent this week interest in the The news of the sion has been M the general ket for securities. definite closing of arrangements for mar- the new Anglo-French credit loan has been accepted as an influence of far- reaching importance. The terms of this loan as officially announced pPoved to be much more inviting than had been expected, and the prospects of a satisfactory subscription-have cor- respondingly improved. It seems quite fair to assume that, in view of the Jarge concentration of important Snerican banks and bankers that have become identified with the un- derwriting of the loan, no stone will be left unturned to make it a success. The loan, it may be observed, is of gweater importance to the national ac- tivities of our own country than in its relation to the conduct of the Euro- pean war. lts main importance, as I have recently stated in these advices, lies in the fact that the export trade of America is not to be severely handi- capped by a protracted period of ex- ogssive weakness in our international exchanges. While only Great Britain and France are directly interested in the negotiations, the real influence on American trade is much wider and much more important. Besides our own trade with the countries named, the demoralization in exchange rates means interference with trade that is financed through London. A very considerable amount of this class of business is still being conducted. As everybody knows, dollar exchange, while rapidly attaining world-wide popularity is still quite in its infancy. Under most favoring circumstances it wNl require years to develop on an important and world-wide scale. But with the restoration of our interna- tional exchange rates there will be less incentive for foreign interests to avoid the American market when purchas- ing their supplies or rood and of clpthing and all other necessities: This is of great value to our agricultural sections, especially to the west, where such large crops have been success- fully raised and are now for practical purposes ready for our home and for- eign markets: Had the loan not been arranged there would have been very strong encouragement for foreign buy- ers, where they could not entirely de- lay purchases, to obtain their supplies from other countries. - leaving® "the United States last upon the list as a source of supply. This quite natural- ly would have been a source of de- pression on the prices of American grains and provisions. Beyond this it would have placed American grain products in the list of those that would be most subject to the com- petition of Russian wheat, which will be released in such large quantity when and if the Allied armies and navies are successful in opening the Dardanelles. There are as yet no data on which to base a definite opin- jon that the operations against the Straits will be promptly successful. It is quite obvious, however, that the task has been undertaken as a most serious one and that it will not by any means be lightly abandoned, Boom For War Stocks, The announcement of the terms of the loan and the indications that it will be so successfully distributed pspved an added stimulant for the so- called war stocks. Operators were encouraged to believe that the im- provement in the international ex- changes would mean the unrestricted placing of war orders with American manufacturers so long as the Euro- nean conflict continued. But there has nevertheless been a noticeable drift in the trend of operators toward the more conservative investment properties, particularly the railroads. The delay in killing frost has been a favorable feature so far as the corn crop is concerned, and that class ot grain will shortly be moving in its various forms over the railroads on a plirticularly large scale. It is not so much the movement of the corn itself that constitutes such an important source of railroad traffic. It is the various forms of manufactured pro- ducts in which the corn is utilized that ig’the important item. Still another influence in the week’s -market has been the reports of vari- ous combinations among the independ- ent steel manufacturers. Definite plans have not yet been announced. There, however, seems some really substantial basis for the reports, With the continued exportations of Ameri- can foodstuffs and all kinds of pro- ducts the balance of trade will con- tipue to move strongly in our favor. This will undoubtedly encourage fur- ther selling by foteign holders of their American securities, though with the prospective incentive for such sales will be measurably reduced- Meanwhile the money situation at home continues one of the great re- dundance. Thus far the news of the subscriptions to the $500,000,000 loan that are in prospect has not affected nipney rates adversely. The funds are not to leave the country and to a large extefit the subscriptions will consti- a movement of funds between ks and trust companies. Never- eless it is not unlikely that when the subscription books are opened there may be a temporary strengthen- . Ing of interest rates. This feature is not likely to be more than temporary d will hardly constitute a depressing luence as a stock market factor. he days of sensational advances in es for money passed when the new came into operation will continue available for all i According to report, ‘Oct. 15 has been fixed upon as the day for Bul- garia’s active entrance into the war on the side of the Teutonic powers, although the allies’ activity and ad- vances in the western war theater may compel a modification of the Bulgars’ plans. With the increased activity in Serbia, following the mass- ing of Austro-German troops on the Serbian-Austrian frontier, the mobil- ization of the Bulgarian army and the the preparedness of Roumanian for ‘“‘eventualities,” the Balkan states may be involved soon in the war. Ger- many and Austria-Hungary are great- | ly desirous of sending munitions to Turkey, their ally, but the Balkan | states stand in the way-. The short- est way is through the northeastern | corner of Serbia (the route is in- dicated by an arrow on the map,) | and then through Bulgaria, relied Rocky Ro T hrough Serbia Figures in | Calculations of Balkan States’ Course upon not to oppose the passage But the way through Serbia is mountain- ous and fortified, and the Serbian farmy has proved its fighting quality. Besides, there are no railroads in that part of Serbia. Therefore Ger- many and Austria would like to send the men and material through Rou- mania, which is fairly well supplied with railroads. But Roumania’s neu- trality, or friendliness for Russia stands in the way- legitimate purposes. Lenders are, it is true, showing some disposition to put a curb upon the sensational move- ments shown by some of the indus- trials that usually associated in the public mind with war orders. But this same restraint is not showing it- self in the market as a whole, ' the well known investment stocks being entirely outside its influence. With the active season for crop funds hav- ing reached its peak, we are undoubt- edly facing a period of even greater easiness in money circles and it is not unlikely that, as in the past, the ac- cumulation of funds will seek the se- curities markets for profitable invest- ment. » Ly Source of Nervousness, The war will continue to exert its influence as a spasmodic factor in the market and will undoubtedly from nervousness and more or less violent fluctations. But prospects are very favorable to the belief that America will not become an actual participant. How important a market factor the war still is was indicated on Thursday, for instance. when the news was re- ceived that the American sailing ship Vincent had beén sunk in the White Sea. The earlier reports asserted that the vessel had been torpedoed by a German submarine. This being so directly at variance with the assur- ances so recently given by the German Foreign office as to the change in its submarine policy clothed the incident at first reported with considerable im- portance and liquidation on quite an impressive scale ensued in the market. Subsequently the real facts were cabled, namely, that the ship haa struck a mine. The relief that was felt caused a substantial recovery level. The market conditions seem such as to encourage conservative invest- ments in well selected stocks, espe- railroads, which have, thus far not par- ticipated in the price advances to the same extent as many of the indus- trials. HENRY CLEWS. CHAMBER OF COMMERCE NOTES. The committee on labor bureau and exchange of the Chamber of Com- merce met yesterday afternoon and conducted a further investigation of its work. It is expected that the com- mittee will have a report to make to the directors about October 10. The nominating committee of the mercan- tile bureau of the Chamber of Com- merce will meet early next week. The isle of safety committee also met yesterday afternoon at the Cham- ber of Commerce. The meeting was attended by Mrs. G. S. Talcott and Mrs. A. J. Sloper of the civic depart- ment of the Woman’'s club, which first brought the matter to the attention of the Chamber of Commerce. The committee area made and will ference with the safety. arrange board of a con- public ANT4, CAPSULES v, Noincrease Es ' 24 in Price. | WILLHAVETWO DAYS ' New Britain Is to Observe Event | {time to come. time to time prove the source of some | 1 will be made to imbue all good citi- | casion. | cause tremendous damage loss of life and property. | made for observing the day from the severe declines in the price | cially in the standard dividend paying | | by section. is to have maps of the | were accepted and from now on the every effort will be made to make the event successful. Alderman Jester FIRE PREVENTION | B! in Thorough Manner Fire Prevention Day, appointed by Governor Holcomb for Kriday of the coming week, is going to be ob- served in New Britain in a manner that will be remembered for some In fact it will extend over.two days and a strong effort zens with the real spirit of the oc- Fires, preventable fires, in the United States every year and some effort is to be spent to educate people to take precautions that will result in fewer fires and consequently less Definite plans for the observance of the day were made last night at a meeting of the general committee in the board of public works room in City hall. Mayor Quigley, chair- man of the general committee, pre- sided and E. W. Schultz was secre- tary. Reports were made by the sub committees on education and pub- licity and on plan and organization. Alderman V. B. Chamberlain re- ported for the former committee. He recommended that arrangements be in the public schools with exercises and ad- dresses. It was suggested that six or eight speakers be secured for this work, that circulars urging the value of fire prevention be printed and cir- culated among the school children and that the newspapers be asked to give full publicity to the campaign. It was also urged that a parade of the fire apparatus be held and.that the Boy Scouts and veteran Firemen be asked to take part. Co-operation in making the day a success was sug- gested through meetings of the vari- ous Patents and Teachers associa- tions. Alderman Jester, chairman of the committee on plan and organization, gave a report, which was acted upon It was decided to have headquarters for the event in the rooms of the board of health in the City hall where information can be given and reports received. It was decided to appoint a finance com- mittee and F. H. Alford and W. L. Hatch were named as members of this committee The municipal authorities under yor Quigley are to have charge of the event and in each ward sub- committees are to be chosen. These committees will be composed of the alderman, four councilmen and ten prominent citizens to be appointed by the alderman of each ward. This will make a full committee of ninety members including all six wards of | the city- It is planned to have a member of the Board of Fire Under- writers and a member of the Cham- | ber of Commerce on each ward com- mittee. Each committee member will ! be furnished with a badge and will | have authority to conduct inspections | and give suggestions to property own- ers as to methods of fire prevention The badges will be issued by supcr- intendent of the board of health. While the. committees will have au- | thority to make inspections and of- | fer suggestions to citizens, the whole | aim of the movement is to educate | and instruct and the committees will | seek to imbue everyone with the true | spirit of the occasion, which is com- i munity effort in fighting a common | and terrible enemy: The reports of both comn:ittees empowered to secure badges and buttons for the members of the om- mittee on plans. Chairman E. B. Alling of the board of public safety is to have charge of the firemen's parade and has appointed as his dep- utles D. A. Parsons of the Veteran Firemen’s association and Stanley Sheldon, leader of the Boy Scouts. The plan is to have the school ex- ercises Friday, October 8, and the parade of the fire appartus with in- spection Saturday, October 9. It was voted to request the board of public safety to take action providing for the parade and inspection of appar- atus. The inspection of property hy the members of the ward committees will also be conduced on Saturday. KALISZ IS ARRESTED AS LEADER OF RIOT; GIRL PICKETS TAKEN (Continued from First Page.) and complained that they had been held up at the corner of Myrtle and Grove streets by three women strik- ers. They complained that the strikers used violence and threats and even went so far as to hit them. One of the striking womén used stones, it is claimed. The complaintants could not give the names of their as- sailants but said they could pick them out. . Accordingly, when the Screw ghop employes were paid off at 10:30 o’clock this morning Officer Fred Wagner, accompanied by the taree girls, was on hand. When the Os- troski and Pothra girls called for their pay they were identified, placed under arrest and locked up in a cell at police headquarters. Conditions Unchanged. Reports from other factories fected by the labor troubles state that conditions remain about the same. The workers at the Corbin Screw Corporation received their pay today and dispersed immediately on receiving it. There is no apparent change of the attitude of the strikers or the officials at the Union Manufacturing company, the foundry remaining closed. Meetings to Be Held. A number of mass meetings being scheduled by the strikers next week in various halls. This eve- ning the polishers and buffers will gather at St. Jean de Baptiste hall on Church street where plans for the formation of a union will be made. A member of the international union will probably be in attendance and will deliver an address and enroll mem- bers in the union, The strikers of the Corbin Screw corporation will meet Monday after- noon at 3 o'clock in old Turner hall. The machinists continue to meet daily at union hall, where the situation is thoroughly discussed by the men, and talks are given by Organizer Cedar- af- are for Mayor Talks to Strikers. or G. A. Quigley last sed the strikers of the New Britain Machine company who had gathered in front of the factory as the workers were leaving. The may- or said that he had been informed that they were not conducting them- selves as they should and he wished to acquaint himself with conditions. He advised the men against gather- ing around the factory or on streets in a manner that would tend to evening Suits for Stout Women a Specialty. H. 0. P. STROLLE $29.75 The above is an exact reproduction of our H, O, P. Stroller for Fall 1915, at $29.75. this character you will do well to see the original of the above, Other H. O. P Suits $14.95 to $50.00. Broadcloths, If interested in a suit of Serges, Poplins, Plain and Fur Trimmed block trafic. The strikers took the mayor's advice and immediately dis- persed with the promises to carry out his orders. It is understood that Mayor Quig- ley has declined to speak at a meet- ing to be held in Turner hall thais evening. Wants to Carry Gun. Captain Grace received visit from a young man named Oliver Stowell last evening who asked for permission to carry a revolver. He claimed that he was frightened by intimidation on part of the strikers and wanted to have protection. Some sound advice regarding firearms was given the young man, and he went his way minus the permit. An E¢onomic Loss. New Britain is suffering a great economic loss through the strike. Thousands of dollars which otherwise would be in circulation are idling. The large amount of money the man- ufacturing concerns place in circula- tion each week will be tied up for some time at least and the city will suffer a depression as a consequence. Merchants will be called upon for extended credit should the strike con- tinue much longer and it will be weeks, probably, before the strikers regain their financial poise. The Connecticut company will suffer to some extent. ~Working people who have been accustomed to ride to and from the factories are conspicuous by their absence and the coffers of the trolley company will be hit hard in the event of a prolongation of the strike, But the greatest harm will result through the stagnation of the pay- rolls. The butcher, the baker and all the others will be forced to wait for their pay and cash will be spent only in case of necessity. ~When the strike first broke out the workmen acted as if on a holiday but within a few days retrenchment began. / Conferences Being Held. ‘Whether Mayor Quigley will be asked to act as mediator between manufacturers and officials is begin- ning to be thought over by many who are keeping in close touch with the situation. Hardly a day passes that he is not in conference with fac- tory officials although he declined today to state the purpose of the councils or their probable outcome. Treasurer Herbert H. Pease of the New Britain Machine company was closeted with the mayor in the lat- ter’s office this morning. Policemen Losing Sleep. One feature in connection with the strike that is being ypverlooked is the long grill through which some of the policemen are going. Many of the bluecoats are getting only four or five hours out of twenty-four. ‘While there is no disposition to grum- ble, the policemen earnestly wish some relief would come. One blue- coat who had been on duty in the storm all night was forced to go out on the street again this morning without his breakfast. a ERSCH-TYLER. have been re- ceived in this city of the marriage of Miss Charlotte Velette Tyler of Richmond, Va. and Richard Robert Giersch of New York city, son of Mr. and Mrs. Adolph Giersch of Greenwood street. The bridegroom is well known in this city. He was an athlete of considerable note and was regarded as one of the best bas- ketball players ever turned out here. The wedding took place September 16. The couple have taken up their residence at 51 West 97th street, New York. G Announcements RICHTER & CO. MEMBERS NEW YORK STOCK EX CHANGE, Represented by E. W. Eddy. New Britain Nat. Bank Blag, Tel 840 STANDARD SCREW COLT’S ARMS NORTH & JUDD BRISTOL BRASS NILES-BEMENT-POND Common BOODY McLELLAN & CO. MEMBERS NEW YORK STOCK EXCHANGE. 111 Broadway, New York. Hstablished 1879, The facilities of our office are at your disposal to buy, sell or @ tain thn best mearkets on all listed issues and we feel confident service will bo not only satisfactory but superior to any other, DIRECT FRIVATE WIRE TO NEW YORK NEW BRITAIN OFFICE, 300-310 NAT'L BANK BLDG. Telephone 1012. ¥. T. McManus, FINANCIAL NEWS WAR SHARES ACTIVE ON STOCK MARKET Westinghouse Makes Gain o Over Three Points New York, Oct. 2.—Speculative in- terest in today's market centered around a few specialties, malinly those of the war contract varlety. ‘Westinghouse, which came forward with a bound In yesterday's Ilate operations, claimed the bulk of at- tention, trading in that issue during the first hour amounting to one-third of the whole. At its maximum of 139 3-8 the stock showed a gain of 6 1-2 points. Steel moved uncer- tainly, failing to equal yesterday's quotation, but sensational gains were recorded by General Motors, Amer- ican Car and some of the more ob- scure industrials. Bethlehem Steel rose ten to the new high price of 376. Bonds were firm. The clos- ing was trong. ‘Wall Street, 10:30 a. m.—Heavy trading In war shares was resumed today, Westinghouse again' looming into prominence. That stock opened with 6,000 shares at 133 3-4 to 134, against yesterday” final price of 132 7-8, later advancing to 135 3-4. General Motors, which recently dis- bursed a 50 per cent. dividend, rose 10 to 350, and a miscellanesous group of specialties showed gains of 1 to 3 points. United States Steel made further fractional improvement at the outset but reacted. Similar uncer- tain tendencles were manifested by other industrials. Rallways were again virtually ellminated from spec- ulative consideration New York Stock Exchange quota- ‘ions furnished by Richter & Co.. members of the New York Stock BEx- change. Represented by E. W. Eddy. Oct. 2, 1915 High Low Close 67 66% 66% 33% 33 33 70 69 69% 92 B4y 9% 463% 46% 46% 66% 64% 65% 08 108 108 Am Beet Sugar .. Alaska Gold .... Am Ag Chem .... Am Car & Fdy Co. Allis Chalmers Am Can ... . Am Can pfd .1 Am Locomotive . 71% 68% 71% Am Smelting ..... 86% 85 85% Am Tobacco . .229 229 229 Am Tel & Tel ...123% 123% 123% Anaconda Copper . 74 % 3% ATS Fe Ry Co..103% 108% 103% Al N 87% 87% BRT.. . 83% 83% Beth Steel ... 364 376 Canadian Pacific .158 156% 167% Central Leather .. 63% 52% ©63% Chesapeake & Ohio 50% 50% 50% Chino Copper 47Y% 467% 46% Chi Mil & St Paul. 87 86 87 Col F & I.... 63% 62% 62% Cons Gas . L1382 132 132 Crucible Steel .106 103% 106% Distillers Sec ..... 34 33 33 Erle .. e . 32% 32% 32% Erie 1st pfd . 617% b61% 61% General Electric .178 1765% 178 Great Nor pfd ...119% 119 119 Gt Nor Ore Cetfs. 49 48% 48% B. F. Goodrich 8% TT% 1% Interborough ..... 19% 19% 19% Lehigh Valley .145 145 145 Mex Petroleum .. 91% 87% 89% National Lead .... 67 663% 66% N Y Air Brake ..160 157 % N Y C & Hudson. 97 Nev Cons .. 15% NYNH&HRR 68% 84 876 Reading .. Rep I & 8 pra Southern Pacific. Southern Ry ..... Tenn Copper .... Texas Ofl .... 172% 169 Union Pacific ...132 131% Utah Copper ..... 69% 68% U 8 Rubber Co , 65% G4% U S Steel ........ 81% 808 U 8 Steel pfa ...114% 114% Va Car Chemical. 43 41% Westinghouse 139% 133% Western Unfon... 77 7 LOGAL STOCKS & HOLDING FIke Colt's Stillens and Brass Maintains Gains 152% 152% 103% 103% 943 93% 18% 18% 6T% 66% American Brass continues an stock in the local market. Prig day ranged between 240 and 245, Fire Arms has stiffened consid: there being considerable inve buying. Quotations stand 7 Bristol Brass was quoted 69-.71 Bement Pond 152-154, Standard common 275-280, New Depart firm at 180, opening at 178 bj 182 asked. Sales of Scoville Co., have occurred at 465. Ne ain stocks are quoted as fq North & Judd 108-112; Union 78-80; New Britain Machine Landers 57-58; Stanley Works and Stanley Rule & Level 390-4) WEEKLY BANK STATEM] New York, Oct. 2.—The stat of the actual condition of el house banks and trust compan the week shows that they hold 272,130 reserve in excess of Northern Pacific. 110% Norfolk & West 113 Penn R R .. -113 Pressed Steel Car. 74% Ray Cons quirements. This is a decre $1,701,790 from last week, STEAMER ISABED DOOM Heavy Seas Pounding Vessel In Sound to Pleces, Stamford, Oct. 2.—The northeast storm and the hea in Long Island Sound last swept the upper parts of the steamer Isabel which ground: Shippan Point, off Cow Buoy, day night. It is probable th hull will not be worth salvaging cargo had been removed and left aboard the vessel. He ashore during the storm and that the seas were pounding bel to pleces. This proved to case. The Isabel was owned by ti Smith Transportation Line between Norwalk and New ‘While making the harbor a merged rock was struck. the crew landed in a boat and ed that the steamer had sunk. was not so and it was though ti steamer could be easily repal value was placed at $40,000. NOW MANAGER SMI The many friends of > Smith, formerly of this city, pleased to hear of his appoin as manager of the Providene vision of the Goodyear Rubber pany. Mr. Smith, who is a naf] New Britain, was employed al Globe Clothing House and Besse-Leland company, before ing the employ of the Goodyeal ple, about three years ago. H been acting in the capacity of & man in the Bridgeport division et Connecticut Trust and Safe Deposit Co. A STRONG, RELIABLE CORPORATION organized and qualified through years of efficien trustworthy service, to act as Conservator, Guardig| Executor or Administrator. CAPITAL $750,000. SURPLUS $750,000 Connecticut Trust and Safe Deposit Co. M. H, WHAPLES, Pres't. HARTFORD,