New Britain Herald Newspaper, August 5, 1916, Page 11

If you are goi - the week-end be right things to wear. 2 to rush off over sure you have the We can supply you with Summer Suits—cool, comfortable and stylish, 312 to $24. Shirts of Silk, Madras, Soisette and Percale, $1 to $ athletic 0. Summer Underwear in Lstyle and union suits, 50¢ to $1. . Neckwear, Socks, Belts, Collars. O, yes—a new Straw Iat, too, all reduced now. Pt S NEW BRITAIN, CONN. TURIES HURL 14,000 TRODPS AT BRITISH (Continued from First Page.) statement follow. “South Brody obstinate fighting Is proceeding on the River Sereth. The enemy made several counter at- | ta against our detachments which crossed to the right bank in the re- glon of Peniaki-Tchistopoday. All these counter attacks failed and our traops consolidated themselves in the captured positions, “In the region of the River Cheremosh, southwest of Kuty (in the Carpathians) the enemy launched an attack with forces amounting to wrarly a division against our small in- fantry dctachments occupying the mountain passes and farced them a ' short distances back towards the northeast.” “Caul our detachments again made an ad- vance of several kilometers. A Turk- | ish attack in the region of Kygi was | repulsed.” of Bialy | | NEW BRITAIN DAILY HERALD, SATURDAY, AUGUST s, ig16. Henry Clews’ Weekly Letter L City Items New York, Aug. 5.—A very strik- ing disposition exists on part of big corporation managers against dis- tributing in the form of dividends current extraordinary profits. While those engaged in turning out muni- tions usually secured the largest re- wards, blg profits have not been re- stricted to such concerns, but extend- €d to many of the regular industrials; and even the railroads have shared in the general prosperity. Circum- stances considered, dividends as rule have been distributed very con- servatively, and, while there have been many increases, the additional distribution as a whole has been only a fraction of the actual gain in profits. Several reasons contributed to the adoption of such a policy. Mu. nition makers naturally led in this conservative movement, and sought to protect themselves against the fu- ture by reserving sufficient funds to wipe off cost of plant or depreciation, to offset the rise in commodities and wages, to reduce indebtedness and to leave a good surplus for meeting | reaction or any other unforeseen con- | ditions that may devclop after the war. Other industrials, specially steel and chemical concerns, recos- nized that the extraordinary gains of 1915 and 1916 were ephmeral, that sound business management required taking advantage of such a situation Ly reducing fixed obligations, allow- ing for depreciation and enlarging of plant to meet new demands, and in general placing their business in a strong position against the future. There are, however, certain classes of securities less directly uaffected by the war; among these being the railroads and such industrial concerns as pro- duced strictly for the home trade or legitimate export orders. These, too, enjoyed great activity; quite sufficient to materially enlarge their profits, but not enough to warrant more than moderate increases in dividends, if z Many corporations have made unusual gains in gross earnings, but the rise in wages, commodities and other costs prevented profits from be- coming abnormal and kept dividends from increasing. The stock market still refuses to respond to the stimulus of these phenomenal profits. In spite of dan- ger spots, the outlook is encouraging. In ordi y times such conditions as now exist would be accompanied by widespread and active speculation, if not a boom surpassing all records. 3ut stocks stubbornly refuse to move cither up or down, except within re- latively narrow limits; every pro- ORD ONEPRICE (]9 1147116 ASYLUM ST. @ HARTFORD. Stanley son & from un- Thur John A. Johnson of 343 streety a foreman for the Car Torrel company, is recovering an operation for appendicitis derwent at the lo hospital day. All those who are going on the Viking Athletic club outing down the Connecticut river will meet at Central park at 7:20 o'clock tomorrow morn- ing. ations and looking out for American interests. The British government is also exerting a steadying influence, having potent reasons for aiding the preservation of sound conditions here in order to facilitate its own opera- tions. Great Britain not only wants to keep exchange at a convenient level, but also to avoid the threat- ened congestion of our security ma kets and pave the way for a new bond issue later on. The situation therefore is encouraging in spite of perplexities. Steel shares are strengthened by the fact that further big munition orders are coming or have come this way, indicating vig- orous prosecution of the war by the allles. When the war ends it is practically certaln that big foreign orders will be received from abroad for railroad equipment, industrial plants and other reconstruction re- quirements which FEurope cannot meet. It has been estimated by high authority that $5,000,000,000 will be required to replace the necess plants and property thus far stroyed in Belglum and France, and that a goodly portion of such orders | must come to the United States. If this supposition proves true our ex- port trade, especially of steel pro- ducts, will continue active after tho war, with a consequent stimulus upon many other industries HENRY CLEWS. If you ure ont ot work don’t waste your time wan. dermg almlessly about mak- tng a nuisance of yourself in places where the employers bave more help than tney know wkat to do with. TY.ook In the Herald Want Columns and see there which pecopte =) You can do it, if properly dre not, you're missing half the fun life—and for what? A good many people are to economize, or are s the virtues of economy, g0 without the things they actually need, in order to save a few dollars that they might better spend. Here at our sale prices—is a chance —to spend to save. ARE YOU GOING TO BE MARRIED? nounced rise being followed by signi- ficant selling, while every fall of con- sequence is soon checked by a with- drawal of offerings. Such an anoma. lous situation has never been seen. The war, of course, is the only ex- i nation. It fills the situation with so many hidden uncertainties that all ordinary standards of judgment re apt to miscarry. Who knows when the war will end, and how the country will take the readjustment to a pea is? Who can tell how many more securities Europe will un- 1 1 on this market; and who can fair! estimate the coming pre Scorching in Trenches. R With the British armie: Via London, Aug 4:20 a. m.— | Hundreds of thousands of men, whether in stuffy dugouts, in the first line trenches with the sun blazing down on their steel helmets, bringing water to the thirsty fight- ers under fire, or with the transports, welcomed the break in the heat wave today although it brought no rain to My the dust. The ground in grand offensive is baked by the scorching weather and any idea that gunfire brings rain is dispelled as this army is concerned. The duzl continues and in France, | the region of the r as artil night. ry day Austrian Statement. rlin, Aug. 5, by wireless to Say. An official statement iscped by | Austro-Hungarian beadquarters under date of August 3 say: war theater: An entered a small section of renches near Velesnivo but was | completely ejected. Southwest and west of Brody the army of Col Gen- eral Von Boehm-Ermolli repulsed ittacks made by the Russians. At- lempts made by the enc to ad- | vance along the railroad between Barny and Kovel and on the 8tokhod failed. Otherwise the enemy was considerably more quiet, this peing ascribed to his heavy losses. Ttalian th In the Barcola district we were successful in minor We captured 140 Italians, o officers. south of Paneveg- two Italian battalions enemy | repulsed Thiaumont Victory Important. Aug. 12:15 a. m.—The continues to rage north of Ver- dun with something of the old fury ind generally to the advantage of the French. The defenders, after beat- Ing off repe counter attacks by the Germans again took the offensive snd once more recaptured the greater part of the vil e of Fleury and the telebrated Thiaumont work. ’The success at Thiaumont is looked ppon as more important as evidence »f energy of the French infantry than s a military achievement. The work s so swept by the artillery of either Wde as to be of little use to the possessors, French officers point to the jat the efforts of the Germans 10w restricted to the nont section as an evidence of the jrowing weakn of the invaders’ orces in the Meuse The French have succeeded ring he approaches to the Souville and Pavannes Forts, which at one time eemed to be seriously threatened, are back within a mile of Fort amont, where the most terrific Ighting of the German offensive took Va. The fighting continued well into he night The Germans delivered urther counter attacks but accord- ng to the latest advices the French xare holding their own. fact are { and prevent famine. | entirely lower | Fleury-Thiau- | of foreign loans? Though all these problems are being faced in a fidence spirit, it is impossible to sure of what will happen. Home are not without their perplex- ities. The crop outlook is not en- couraging, both wheat and cotton having suffered rather serlous deter- joration, though there will be suffi- cient of both to secure good prices The labor sit- particularly threatening; seeming to have turned the heads of a certain type of leaders and making them think that the right of the public and owners are subservient to the demands whether reasonable or un- reasonable. The national political campaign fairly opened with Mr, Hughes’ address and will soon become more of a factor in estimating the tu- | ture. The Mexican problem is far from a settlement and may remain so0 for months to come. The money outlook is satisfactory and time money easy owing to limited demand and abundant supply. Money in cfr- culation in the United States now amounts to over $4,000,000,000, or more than $400,000,000 in cxcess of a year age. The situation in fact has changed so completely that New York banks are transferring their bal- ances to London to secure the better rates there. Capital applications in the United States since January 1 ag- gregated about $2,000,000,000, or nearly double the amount of a year ago. Of this vast sum nearly $450,- 000,000 represented foreign loans of various descriptions, about $900,- 000,000 industrial issues, while rafl- road issues accounted for “another $500,000,000. In July new charters of $1,000,000 or over in the principal tastern states aggregated $217,000,- 000, compared with $71,000,000 a year ago, and $68,000,000 in 1914. So much for the very extraordinary demands upon our capital market which cannot be prolonged without affecting the financial situation on ! this side. Bvidently we are threat- cned by congestion in the security market which may partly explain the unwillingness of the market to re- spond to stimulating surface condi- tions. uation is prosperity of labor, somewhat less active as season. Bank clearings iast week were only 33 per cent. ahead of last year, compared with recent gains of 40 per cent. and over. Railroad earnings are satisfactory, running per cent. more than a ar ago; the latest report of the | New York Central showing an in- | crease of $21,000,000 of gross earn- lings for the six months ending June, nd $10,000,000 in operating expenses | being highly significant. Inside sell- ing at home and war selling abroad, | plus the constant pressure of both | new and old issues, create a perplex- ing situation. Were the market gov- erned by ordinary rules, there would be greater activity and wider, if not sensational, fluctuations. As it is the !situation is stabilized by the conser- vative spirit of New York bankers who are discouraging unsound quer- Trade i usual at this . It’s a personal questiont of course but we have a purpose in asking it and you will gain by answering LISTEN---HERE’'S THE DOPE The “Herald” is a necessitv in every home. You simply can’t get along without it. Of ¢ > there’s a time when oo a newspaper is not thought of. We are going to think of it for you. WE'LL GIVE “H er l d” YOU THE - d ‘Starting now every couple married in New Britain, or expecting to live here after the honeymoon, will be to the presented with a three months’ - real New Britain paper free. WE WANT TO START on YOU RIGHT. After the three months are up you will be given an opportunity to subscribe—NOT BEFORE. So send to the Herald office your future home address, to which you wish the paper delivered, together with the date of your start at housekeeping and get the news every evening. Do You Want QOur Wedding Present? ITS EASY TO GET Buits For Stout Women A Specialty. | anxious | sed with RICHTER & CO. MEMBERS NEW YORK STOCKX EXCHANGE Represented by 1. W. Eddy. 81 West Main St., City Hail Building Telephone 198 ; Scovill Mfg. Co. North & Judd Standard Screw 100 Stanley Works 100 Eagle Lock Co. 100 New Britain Ma- chine 5 Hart & Cooley 20 Colt’s Arms 50 Union Mfg. Co. 50 American Brass 100 Landers, Frary & Clark 100 Niles Bement Pond 100 American Hardware 10 Staniey Rule & Level Co. MARKET STAGNATES; Commission Houses Might As Well | reopening of the exc put | | | market session | ord for absolute stagnatian since the ber, hour, with many representative issues altogether omitted barely totalled 20,- 000 shares and the equally apathetic. mum and commission houses might as well Changes in quoted values were almost utter News of striko upon tions lost a point. Bonds were irregular. tions furnished by members of the New York Stock change. Am Beet ‘Alaska Am Am Am Am Am Chi Mil & St Paul. 94 q 94 lemand Col . Crucible 5 | c Distillers Erie Gene Goodrich 48 kid 7 96 68 17 67 26 Inspiration Lehigh Valley .. Max Mot com. Mex Petrol Natl Lead .. Nev Cons .. . NYNH&HR N Y Ont & West .. 2 Nor Pac Penn R R Ray Cons . 22% Reading .. . 94% Studebaker .. 126% Tenn Copper . 24% Texas Ofl Third Ave .. Union Pac United Fruit Utah Cop U S Steel ... U S Steel pfa Va Car Chem HAS DULLEST DAY 133 22 94 125 24 191 62 138 159 7 86 118 39 57 92 52 Have Closed Doors Wall Street—Today’s two hour established a new rec- ange in Decem- first 1914. Transactions in the last hour was Westinghouse . Western Union Willys Overyland . Attendance of trade was at a mini- have suspended operations. of actual importance. aside from the car had little bearing Lacal trac- Avenue Transit firm. devoid the day, situation market conditions. moved variably, Thirg while Brooklyn The closing was ng 1 , (Continued from First Page.) Exchange quota- Richter & New York Stoclk York Railway's car barr police reserves there. threatening attitude of their sympathizers frightened of Represented by E called and Sugar Gold Ag Chem g Car & Fdy Co. Ice .. Smeltin Tobacco Tel & Tel mda Cop Fe Ry Loco ; i number loyal er their cars to the barns. few arrests. Strike Threatens Philadelphi Philadelphia, Aug. Member the Amalgamated Assc Street and Electric of America were reply the Tr iation S Railway today w Philadel to the ldwin from mpz for denr increase in conditions, nt Thom »any. wi wadian Pacific better working was sent to Presid Mitten of the transit ders of the Amalgamated id today they motormen and the company ™ would call conductors ition | strike of | the al mands. e 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 e Employ GOTHAM HAS STRIKE BUT DOESN'T FEELI whie] T the strikel ws into returnin There we! Rapid nd of th na A5S0- in gnored its de: {] { { { S —— WHEN YOUR NEWSBOY FAILS TO LEAVE YOQUR HERAL ’Phone WESTERN UNION And paper will be sent promptly to you by messenger. We want you to have the HERALL every night and to make sure that it is delivered to you we have ar ranged with the WESTERN UNION tc have a mes- senger boy rush a copy to your home. This service is given at our expense. It will cost you nothing. We want you to be satisfied and when you are we feel smply compensated for whatever effort we may make for your benefit. S0, IF YOUR NEWSBOY FAILS TO LEAVE THE HERALD BY 6 O’CLOCK °’PHONE WEST- ERg UNION. YOU’LL GET A COPY SOON AF- TER. | |