New Britain Herald Newspaper, November 13, 1915, Page 11

"TRADE REVIVAL IN 85 UNITED STATES Steel Indusiry Now Enjoying Period of Prosperity (Special t~ the Herald.) yNew York, Nov- 13.—Bank clearings ]est week at principal cities aggregat- $4,500,000,000 or sixty-seven per ‘cént. more than a year ago. This is an astonishing gain. Of course the stock exchange, which was closed a year ago, had much to do with swel- Hng the total in this city. But outside New York, where financial opera- tiohs were more nearly on a normal scale, the gains were also impressively large and proved conclusively a wide- spread business expansion. The re- turns for the month of October were equally significant; the total being $20,000,000,000 against $11,700,000,000 a year ago- Here was an increase of over seventy per cent, at all cities; New York showing a gain of 127 per cent. and all other cities a growth of twenty per cent. So much for bank. clearings as evi- dence of trade revival. What about ralliroad earnings? In the third week f October 32 roads reported earnings pt $14,800,000, an increase of $2,100,- Qfl or over seventeen per cent. Pre- ious to October, the railroads had jbeen reporting more or less serious logses, but these diminished - sharply jduring September = dand .turned into steadily increasing gains in October. e latest returns are even more en- cquraging, many of the big trunk lines h east and west showing very hand- e recoveries, particularly such ids as Burlington, New York Cen- ral, Pennsylvania, Caandian Pacific and others. 'Bigger tonnage, better rates and lower expenses mean good ot results. The number of idle cars lovember 1 was only 26,000 compared th 170,000 a year ago. Iron Trade Active. JThe iron trade continues to furnish ples of unprecedented activity. Bince the first of Séptember orders over 1,000,000 tons of rails have n placed, about 550 locomotves and ore than 45,000 cars. This only ipresents a portion of the new acti- ity in the steel trade as some of the Iroads are bullding considerable uipment on their own account, and he steel companies have received Arge orders for outside construction fPork; not to mention munition or- 5. The report of unfilled tonnage ed by the United States Steel Cor- wation, which is running nearly 100 cent. capacity, surpassed all ex- dtions; showing an increase of ,000 tons, as compared with the fiount of business on the books in e previous month. Prices for stecl ‘e steadily advancing, and this indus- is now enjoying a period of pros- perity which in some respects sur- passes all others on record. The facts ust cited prove industrial revival, ased as stated in our previous advices ipon big crops, abundant money and preign munition orders. This activity already spreading to various tanches of trade. The textile indus- es show a healthy tone, interior prchants having been often caught th comparatively empty shelves, hich are now being replenished. La- or is well employed and generally at ood wages. Speculation Slows Down. | On the stock exchange speculation lowed down somewhat; the rapid ad- jance of the last few weeks havin hduced moderate realizing and a tem- orary reaction. More or less foreign Plling was detected at the higher ces, and the decline was further elerated by operations of a local bar cligue. The weaker shares were e war industrials, from which atten- jon has been wisely diverted to the ore substantial railroad and indus- securities: Liquidation, however, Py d to have no serious effect up- h e market, and on the decline here was good buying for all he more desirable issues, indicating good undertone. The war still has powerful indirect effect upon this harket. During the past week war de- Pjopments have not been of a very INcouraging nature, since they sug- Sted a prolongation rather than a [hortening of the struggle. The pos- bi\i:y of further friction with the entral powers over the conduct of ma- ine warfare also exerted an unset- ng effect. The continued withdraw- of ocean tonnage for war purposes having a tendency to restrain ex- prts, the result being less pressure of pbmmercial bills and an increased Tpness in foreign exchange. The sit- ption of the latter was favorably af- beted by tae successful negotiations br establishing British credits to the ent of $50.000,000 or more with York banks- iAs for the future of the market, fhile reactions such as those wit- gssed during the last few days are obable and necessary, the forward hovement does not seem to have bached its climax. Of course, there 1l be an end to the present rise, but hat end is not yet in sight. The im- btus of big crops has by no means pent its force; nor is there anything counteract the latter except unfa- brable developments growing out of he war. Another very powerful fac- r is thé inflationary effect of our fugp -gold supply, and tae operation the new Federal reserve system; bth of which have laid the basis for tremendous expansion of credit. The lllies are bound to continue coming e for a large portion of their sup- llies, and having less merchandise to bnd in payment, they must continue b ship gold as freely as possible, buy- & on credit what they cannot pay for f merchandise. Of course, this im- @és a heavy straim upon the Allies h cannot last indefinitely; sesources do not yet appear . to been oveérstrained- be ¥ ¥ i but ‘When the Bethlehem Fire Caused Greatest Loss Since War Began 10 Any Munitions Plant WATCHING E_in BETHLEHEM PLANT -~ ENE. N op Persons generally ~well informed on conditions in the great munitions plant of the Bethlehem Steel com- pany at South Bethlehem, Pa., esti- mate the loss in the machine shop fire at from $1,000,000 to $4,000,000. In the burned building are said to have been 800 field guns being built for the allies, and they are supposed to have been destroyed. The great ‘war ends there will be some big work to do in financial leaders will be taxed quite as severely as when the began. But fortunately there will be ample warning of any peace movement and, many vague rumors must be ex- pected before genuine steps are tak- en. Moreover, a prolonged period of negotiation will be inevitable before disarmament becomes a fact. Many months may easily pass before the millions of men now engaged in mu- tual destruction can possibly return to productive labor. Cause of Setback. In about three weeks congress will open and a new set of issues will be pressed upon public attention- attacks upon capital which have con- tinued for over twenty years, have about spent their force. Many of the old abuses have been practically elim- inated, and this form, of political en- terprise is rapidly going out of fash- jon, particularly since its injurious ef- fects became so apparent to all .con- cerned. The war will make a strong impression upon our political life. Efforts will probably be made for readjustment of the tariff, especially where public revenue has been affected by curtailment of! im- portations. Shipping will come in for a large share of attention, our depen- dence upon foreign ships for passen- gers and freight being particularly hu- miliating to our national pride and detrimental to our commercial inter- ests. The problem of will also figure very prominently in public affairs- This is an entirely new issue and one demanding a prompt and satisfactory solution. The early opening of congress and recent devel- opments in the war fully account for this week’s setback. HENRY CLEWS. Engine Co, No. 5 was called out at 1:15 o’clock this afternoon by still alarm to extinguish a fire in the cbimney of W, H. Warner’'s home, 141 Lincoln street. nol ® ko AT relief! ‘The first appli- cation of Resinol Ointment usually stops all itching and burning and makes your tortured skin feel cool and comfortable at last. Won’t Jyoutry the easy Resinol way to heal eczema or similar skin eruption ? Doctors have prescribed it for 20 years. Sold by all druggists. Use Resinol Soap to clear a bad complexion. | head. | 'BIG THANKSGIVING The | undoubtedly | preparedness | American war: munition plant is now working on contracts worth millions i of dollars from Great Britain, France |and Russia. Since the outbreak of | the war and the flooding of this | country. with munition contracts, no | other. corporation engaged in the | war contract business has _suffered ’so serious a loss perhaps, as that sustained by the great organization of which Charles M. Schwab is the The building that was de- , stroyed was one of the boring mills and was a combination of the old pat- tern shop and machine shop No. 4. Shortly after the war started and when war munition contracts started to flow west the two buildings were combined and increased from one to four stories in height. The recon- struction and equipment necessary entailed an expenditure, according to a well known citizen of Bethlehem, of $3,000,000 FESTIVAL IN JAPAN :Sacred Rice Offered to Imperial Ancestors of Gods and Goddesses Kioto, Nov. 13.—The Daijosai Fes- tival, or Grand Thanksgiving Festival, the ceremony of offering sacred rice to the imperial ancestors and the | 8ads and -goddesses began today at | the imperial palace. This ceremony !is one of the three great rites of the coronation and is of very ancient origin. ‘When Ninigino-mikoto, the - grand- son of the Sun Goddess, Amaterasu Omikami, founder of the Japanese told, to Mount Takachiho, in Kyushu, and established imperial headquarters there, he sowed the seeds of rice plants and presented the first crop to the Sun Goddess before himself tast- ing the food. This was the very be- ginning of the Daijosai festival. Land of Sacred Rice, Rice censtitutes the most important daily food of the Japanese people: and the land was, in the mythological period, called the Land. of Sacred Rice. Since that time the ceremony is observed as an essential function by i every ruler who succeeds to the throne. The rite was ordained by an imperial edict issued by Emperor Mutsuhito in 1871, three years after his late majesty’s succession. The central idea s that the new emperor, invested with the suzerainty of the Land of the Sacred Rice, offers to the imperial ancesters and the gads and goddesses of heaven and earth the first crop of the first har- vest in his reign. It is, therefore, ob- served as a state ceremony and not as a court ceremony. Harvest Festival, Related to it is a ceremony of minor importance, which is annually i i i | held in the imperial court on Novem- ber 23 and simultaneously at the grand shrines at Ise. It is called the harvest festival. As the rice on which sixty millions of the subjccts of the imperial house sustain their lives had been granted by the imperial ance tor, as related above, every sovereizn of the land expresses his thanks for the benevolence of the imperial an- cestor in behalf of his millions of sub- Jjects. - To pray for the plentitude of har- vest the emperor holds a ceremony on February 17 every year before the imperial sanctuary and the grand an- cestral shrines, beseeching an abund- ance during the coming harvest. The ceremony and, the harvest festival are widely observed in every Shinto shrine through the length* and breadth of the empire on the same day, which is preserved as a national holiday- Today’'s ceremony was v to the grand harvest festl:::;)a:‘vi}tl?:}){ takes place tomorrow, i “Chinkon-saj,” It is called the “Chinkon-sai.” imperial dynasty, descended from the heavenly domain, as it is traditionally | Its purport is a prayer for the longe- vity of the Emperor, the Empress and 'n Prince, and especially for the tion of their ‘“volatile” spirit. one of the most mysterious c¢f all the coronation ceremonies. | Historians have had extreme aiffi- culty in -tracing its origin, but the underlying idea is that the spirit or soul of the Emperor is to be calmed and made to enter a state of perfect peace and tranquility, far removed trom all earthly things, that he may more fittingly commune with his an- cestral gods, offer them food, and himself partake thereof, both in his own name-and in the name of his subjects. The ceremony was held at the Yuki-den and Suki-den halls, newly erected in the compound . of the palace. It was purely a religious function and was officiated * by the court ritualists and attended by chief officials of the coronation committees. The emperor and crown prince did not participate. Halls Purified. The halls had been previously puri- fied. After the spirits of several gods had been called to the sanctuary the musicians played sacred Shinto music cn harp and flute with an occasion- ! 21 accompaniment of sacred bells. Next a sword, a bow,an arrow, a bell, cocoon, a roll of raw silk cloth and a roll of hemp cloth and then some food offerings were presented before the altar, the musicians all the while | playing Shinto musie.. The chief ritualist then, ascending the stand in front of the altar, read a Shinto prayer for the perpetuity ©of the imperial reign, the longevity of the emperor, the empress and the crcwn prince and the prosperity of i the imperial house. Presently were brought into the hall a strip of the cloth used in the emperor’s robe and a tablet, representing His Majesty. ""hese were placed in a sacred case. | The ritualists clapped their hands | eight times and the curtains around { the stand were dropped. Then the ritualists performed the ceremony of making knots with threads, each making ten knots. One of them struck the sacred case ten times with a sword,and, taking out the tablet, put it back in the box in which it had been brought in. The curtains around the stand were then removed and a ritualist, taking out the imper- al cloth from the box, shook it be- fore the sacred presence of the gods ten times, and then returned it to its box. The imperial cloth and tablet were then removed. The cloth and tablets of the empress and crown prince were given the same religious treatment. Subsequently and finally a brief ceremony for the happy departure of the spirits of the gods. BARACA CLASS MFETS. The Baraca class of the First Bapt- ist church reorganized last night and made plans for the coming winter season. Officers were elected as fol- lows: President, B. E. Mann; Vice- president, Royal Stone; secretary, Willard Andrews; assistant secre- tary, Harold Houck; treasurer, Rcbert Shailer; -leader, Edward C. Connelly; assistant leader, William Hesse; chairman of athletic commit- tee, Russell Shailer; chairman of mu- sic and social committee, Harold Ban- ner; chairman of membership com- mittee, Harolg Dykins. Style! Style is one of those things that can be seen; but with difficulty de- scribed. It is a certain something that good clothes have, and indefin- able characteristic that distinguishes and sets them apart from ordinary garments. The same applies to shoes. You'll see it here unmistak- ably in our H. J. P. Clothes and King Quality Shoes—for Men and Youhg Men—the sort of style rich men pay high prices for—but it comes easy here. MANY GET POSITIONS THROUGH BUREAUS October Report of Agencies Shows Number of Unemploycd Was Not As Large as in September. Hartford, Nov. 13.—More persons applied to the free public employment bureaus in October than in September and it was also possible to place more of the applicants in positions. On the other hand it was not possible to fill as many applications for help in Oc- tober as in September indicating that the number of unemployed available was not quite so large. The applications for during the month were: At Hartford, 945, New Haven 433, Bridgeport 557, Waterbury 317 and Norwich 139. Situations secured were: Hartford 550, New Haven 264, Bridge- i););t 369, Waterbury 172, and Norwich Applications for help were: At Hart- ford 724, New Haven 365, Bridgeport 427, Waterbury 233, Norwich 144. employment CAUGHT LOOTING STORE, Ansonia, Nov. 13.—Herman Larkin, eighteen, colored, was captured late last night while attempting to burg- larize the variety store of Michael Scully. The police ldter found that Larkin had entered the store of P. J. Noonan earlier in the night and had broken the glass in the front door of the store of William Rich. Probable cause was found in the city court this morning and Larkin was bound over to the superior court on two counts of burglary. Post Carpet Company 219 Asylum St., Cor. Haynes St., Hfd. HICH CLASS 'Rues ‘We are making special prices on a number of our best Rugs and the re- ductions, come at the very right time for those wishing new Rugs for the Thanksgiving season. 9x12 $45 Wilton Rugs, now at. .$35.00 9x12 $35 Body Brussels Rugs at.$27.50 9x12 $20 Tapestry Rugs at. .". . .$16.00 $1.50 Velvet Carpets ......$1.20 yd. $1.25 Tapestry Brussels Carpets. .$1.00 yd. $1.00 Cloth Carpets at. 80c yd. | 88c Ingrain Carpets ... ..50c yd. This is real sale news and of the kind that particular people realize to be -honest and worth while, T rR— 4 RICHTER & CO. MEMBERS NEW YORK STOCK EXCHANGH, Represented by E. W. Eddy. New Britain Nat. Bank Bldg. Tel 840 and 50 shs AMERICAN HARDWARE 50 shs STANLEY WORKS 50 shs NEW BRITAIN MACHINE 50 shs LANDERS, FRAL CLARK 50 shs UNION MFG. CO. Curb Your Desire to Spend It would be very easy for most men to spend their entire income, no matter how large it may be. A8k Human nature is 80 constituted that every time a man increases. his earning power, his desire to spend increases in the same pro; portion. That is the inclination you will have to fight if you ever expect To Make Real Progress in acquiring a competence. Make up your mind that you must and will save. come increases, let your savings increase. y And do your saving through the bank, which will proteet' ana reward your thrift. We pn,y4 PER CENT- interest on savings nceountfi‘l’ # 1 v i ol It your fu ' o " PO THE COMMERCIAL TRU COMPANY WAR SHARES AND [NILES STRONGER 2 s 170 Hev ALLIED ISSUES GAIN | IN TODAY'S MARKE vt Local stocks were inactive “{i and transactions were few. opening at 178. as 183 and closed at 188-186, can Brass was quiet, as was B The former sold at 250, ‘was quoted 70-72. Union Works Stock sold ad’ ‘change in Colt's Fire Arms, the ures standing 840-860, Other remained at yesterday's figures. 81 74 89% 66 102% 16 Lehigh Valley . Maxwell Motor Mex Petroleum ... 80% National Lead . 66 N Y C & Hudson. 108 Nev Cons . cess A8 NYNH& R R 80% 813 81 Inspiration ... Kansas City so . N Y Ont & West .. Northern Pac ... Norfolk & West. Pac Mail 8 8 Co .. 38% Penn R R ve. BOY Pressed Steel Cor.. 7 Ray Cons 26% Reading .. . 82% Rep I & 8 com... 63 1163 11% 33 60% % 26% 821 51% . 66 54% 5 87% B7% 8 116% 116% 11 Am Beet Sugar Allis Chalmers . Am Ag Chem .... Am Car & Fdy Co. Am Ice Am Can . Am Loco ..... Am Smelting . Am Sugar ... Am Tobacco .. Am Tel & Tel Am Woolen cm. Anaconda Cop T A 8 Fe Ry Co.108% Baldwin Loco . 123 B &O 94% BRT.. 2914 Beth Steel ce. 445 Butte Superior 78 Canadian Pac . 185 % Central Leath 68% Ches & Ohio 6315 Chino Copper 54% Chi Mil & St Paul. 95% Col F & 1 . 55% Cons Gas . L144% Crucible Steel ... 78% Del & Hudson L1613 Distillers Sec 49 Erie s 433 Erie 1st pfd . 583% General Elec .....178% Goodrich Rub . 74 Great Nor pfd ...125% Gt Nor Ore Cetfs. 50% 45 33 cf the actual condition of clea house banks and trust companies ARy 845,370 reserve in excess of legal quirements. This is an increase z $4,744,870 over last week. MAXIN (when, as and if issued) Par value $10, 403 Mitchcock Building Springfield, Mass. P Connecticut Trust and Safe Deposit Co. A STRONG, RELIABLE CORPORATION organized and-qualified through years of efficient, trustworthy service, to act as Conservator, Guardian Executor or Administrator. CAPITAL $750,000. SURPLUS $750,000 Connecticut Trust and Safe Deposit Co. M. H, WHAPLES, Pres't:" HARTFORD, CONN:“ K | Most of Former Speculative |Sold This Morning at 1830 Favorites Were Backward New York, Nov, 13.—Today's short session of the stock exchange was de- voted largely to the regular week- end settlements of speculative ac- counts. Dealings lacked the impulse of public inquiry. Seasoned shares were again under moderate restraint, but war issues maintained their repu- tations for wide changes, mostly on ;;3 gbl‘d and 81 asked. There weré the side of higher quotations. Motor | 2 stocks rose two to six points and Beth- | prent & Strong feature this week) lehem Steel. Baldwin Locomotive, 3 Ao Crucible Steel rose more moderately. United States Steel showed the effect of realizing sales, but coppers hold their recent advantage, in some in- stances scoring higher prices. Rail- ways were a negligible factor through- out. The -closing was irregular. | Bonds were firm, Wall Street, 10:30 a. m.—War shares and allied issues were the only features of interest at today’s open- ing of the stock market, with gains of one to two points on moderate dealings. Metal stocks shared in the movement to a moderate degree, but rost of the former speculative favor- ites were backward. U. S, Steel rose & small fraction at the outset but soon fell back. Bethlehem Steel rose two points to 445, and there was fur- ther activity in the automobile group. Initial transactions in Union Pacific Southern Pacific ..108 and Lehigh Valley showed nominal Southern Ry .25 24% losses, while Reading and Canadian Southern Ry pfd .. 68% 63% Pacific were fractionally higher. Studebaker 163% 1568% —_— Tenn Copper B9% 68% & New York Stock Exchange quota- | Texas Oil 170 111" 1% ‘lons furnished by Richver & Co.. ; Union Pac 138% 137% 18 members of the New York Stock Ex- | Utah Copper change. Represented by E. W. Eddy. , U 8 Rubber Co Nov. 13, 1916 U 8 Steel .. High Low Close U S Steel pfd ... 68% 67% 67% Westinghouse ..... 70 69% 36% 34% 35% Willys Overland.. 248 " 243 T4Y% T3% T4y v 83% 83 83 28 27T a1 83% 623 673 9% 117 237 127 51 S7% 108 122 948 8935 444 721 185% 58 63 54% 95 54% 143% 7% 161% We believe is the bést purchase 483 43% 683 Issues Remain Quiet’- - 6 Bement-Pond was the strong featus ¥ Bristol B American Hardware, which'} -3 {bid and 120 asked. There ‘j¢" "y _—— 81 &80 L3 66 103 19" 80% 80 81% 31% 31 116 L119%118% 11 26 53 102% 102 25 (23 163 9 1 7 1387 187% 137% 5 7 L WEEKLY BANK STATEMENT | New York, Nov, 13.—7The statem for the week shows that they hold $198, Munitions Corp. | on the entire lst. T.et U tell you whid JOHN H. PUTNAM;E ¥ i