New Britain Herald Newspaper, December 9, 1916, Page 11

NEW BRITAIN DAILY HERALD, SATURDAY, DECEMBER 9 {Right this way please. Here'’s the finest display we’ve ever jaade of clothing, hats and furnishings or men. For the month of December our btock is perfect in style, quality, fabric d variety. f Special suits for young men, the ose fitting, pinch back coats, and Polors and patterns that show individ- NEW BRITAIN, CONN. EVANGELISTIC CAMPAIG Revival Will Close Evening. dventist Church Tomorrow Using the parable of the Good famaritan, Elder M. M. Shurtleff last bveing brought to a close the week jght meetings of the ‘“Evangelistic jampaign at the ivent church on Church street. The speaker's remarks on the par- ble were listened to by a receptive udience. The congregation was freed to put their religion into prac- fical use and to emulate as far as pos ihle the gracious acis of loving min- stry of the Sama an and the inn- eeper. The Samaritan of the par- ble was shown to be none other han Christ Himself accomplishing is work of redemption as he jour- eyed about the land doing His jnighty miracles. The inn corresponds o the visible church today and the eep to the servants of Christ, who 'e laboring to do His will among jie needy. The final services in the campaign ill be held tomorrow. At 10:30 in pe morning Evangelist Moeller will ‘gain occupy the pulpit. His subject fill be the “Second Coming of hrist.” In the evening at 7:30 it is xpected that several different speak- jrs will address the meeting which Il be in charge of Evangelist Moel- ¢r, Special singing-has been ar- prtanged for both services, male partet and soloists rendering special plectior Large congregations are leing planned for at both services, in act the greatest number in attend- hnce at any of the services is ex- gcted at the closing services. The mittee in charge believes the pur- B> of evangelistic effort is best rved by short series of meetings jather than the long drawn out, tire- gme kind usual in evangelistic meet- Different” Second IT'S MUCH SAFE ian Hotspurs Adopt Saner Plan to Secure Revenge, London, Dec. 6, 6 a. m.—The pro- jected duel between Deputy Markoff of the duma and President Michael Rod- Zianko has been abandoned, accor t0 & Reuter despatch from Petrogrs President Rodzianko's seconds have etided that meeting was impossible, 8 the Octobrist party to which M. . Rodzianko’s balance arties have resolved to ostracise Dep- uty Markofr. At a recent session of the duma, [Deputy Markoff, who known as a actionary, called President Rodzia- kg a “‘babbling blackguard” He ex- plained that he desired to insult the duma in the person of its president. ACROBATS TO THE RESCUE. Save Their Fellow Workers Burning Building, From New York, Dec. 9.—Acrobats agile in trapeze work and climbing adapted heir profession to the work of res- uing fellow lodgers when a theatri- 4l boarding house in West 44th street jwas wrecked by fire today. ing to witnesses, some of the tenants vere saved by methods rivaling vaud- e¥llle and circus performances. About Wenty persons were injured, two of Whom were women, who were severe- Iy burned, may die. 4 On last Washington's birthday five Pérsons were burned to death in the same building, Accord- -. PHILADELPHJA DENTAL RGOMS 193 Main Street gver ?5c Store BEST WORK AT MODERATE PRICES ©ffice Open from 8 A. M. t0 8 P. M. £ Sundays by Appointment. “F. E. MONKS, D. . S, Georgiana Monis, D. D. S 4 b7 and the other | PROGRESS AND ACTIVITY The Commercial Trust Company constantly keeps abreast of the times, installing modern equip- ment, approved methods and facilities that make for accur- acy and dispatch. Checking Accounts are cor- dially invited and excellent ser- vice afforded. Henry Clews’ Weekly Letter (Special to the Herald) New York, Dec. 9.—For some weeks past this market has been ruled by monetary conditions. Owing to the tremendous drain upon our banking resources the supply of loanable funds had been materially curtailed. Since January 1 foreign loans have been issued in the United States to the ex- tent of nearly $1,400,000,000, while the new capital applications reported by domestic railroad and industrial corporations aggregated $2,070,000,- 000, a total of $3,450,000,000, or about $80,000,000 more than in the first eleven months of’ 1915. These flgures cover only the principal states, and do not include the loans put out by municipalities or stat nor the innumerable issues by smaller con- cerns, of which it is impossible to keep close track, nor the millions of repurchased foreign holdings of Americans. In addition to these de- mands upon our supply of capital, there has been the enormous drain upon banking resources arising from the extraordinary activity of trade and the high prices of commodities. The consequence of these demands is now being felt in a diminished sup- ply of loanable funds and the result- ant possibility of an ex- pansion of credit. these con- ditions that doubtless induced the Federal Reserve Board to issue a notice of caution against a too free absorption by banks of foreign loans and notes; and thé situation was fur- ther aggravated by the low condition of bank reserves at New York, the total surplus reserve of the New York Clearing FHouse banks a week ago being only $41,000,000, or $138,000,- 000 less than a year ago. This de- cline was partly due to the absorp- tion of gold by the Federal Reserve banks in various parts of the coun- try, these institutions holding $598,- 000,000 of the precious metal Decem- ber 1, an increase in twelve months of over $100,000,000. The Clearing House banks held $326,000,000 in specie, an increase of $63,000,000 compared with a year ago; while loans stood at $3,370,000,000, or $230,000,000 more than last year at the same date. The wisdom of pre- venting a too rapid absorption of for- eign obligation is not therefore ques- tioned; although, on the other hand, there was no indication of excess in this direction as yet, especially as the security was prime and the placing of British treasury notes would have proved a protection of our own gold supply in event of smaller exports and larger imports making it possible for Hurope to recall our gold later If caution were needed anywhere, in the flotation of a number s of a questionable char- ally, those based upon abnormal profits which can- be permanently sustained. Even- tually losses from such ventures will far exceed those upon best govern- ment issues; some of which will later on provide good profits at present prices. Another complication in the monetary situation was the necessity of the British government maintain- ing sterling exchange. Great Britain is particularly interested in preventing dear money at New York, and to aid in this direction another considerable amount of gold has been engaged for this market, of which over $35,000,- 000 has already arrived from Can- ada. During the latter portion of the week the money market showed an sasier tendency owing to gold im- ports and a partial return of funds from the interior. Congress opened on Monday and the president’'s message proved decid- edly reassuring. His appeal for jus- tice to the railroads will receive the approval of all fdir-minded people. His declared resistance to the de- mands of a small body of organized labor who would paralyze the whole railvoad system of the country to se- cure their wants was also in the line of safe and sane policy. His recom- mendation of an enlargement of the interstate commerce commission was wise and necessary. The compulsory investigation of railway labor strikes, which has worked well in Canada, is also a step in the right direction. So, too, was his support of the Webb bill, designed to facilitate American ex- ports. Happily the president avoided any recommendation regarding the high cost of living, which is a prob- lem congress intends to investigate, although legislation can do little toward solving what is really a world- wide economic problem. Dear food, clothing and shelter are almost en. tirely due to the war. Supplies have decreased; was‘e has increased. There is no cure fo1 such conditions ex- cept increased production and econ- omy, which restlts will naturally fol- low high prices duicker than any arti- ficlal regulation ur legislation. Specu- acter, es present not l ! But They’re Mann or Clark for Speaker Not Worrying ! MINORITY LEADER NMANN AND SPEARER CLARK | One of the two praminent men in the picture will be without doubt thc‘ speaker of the house in the sixty-fifth congress, whose members were elected last month, if he lives. But, which one? Neither James R. Mann of | Tilinois (at left in picture), nor Champ Clark of Missouri will have a majority of vates, save by combination with m-/ dependent members. Both the repub- lican party and the democrats were disappointed by failure to elect a ma- jority of house members. Clark i the present speaker, -~ and leader of the republican minority. The sixty-fifth congr: will not con- vene until December. 1917, unless called into special se: dent after the expir ent congress on March 4, 1917. lation may in some instances b aggravated the situation, but in other cases it affords relief by carrying over the surplus of one period to meet the famine of another. Extremes of speculation or _holdup of supplies should be restrained, but an actual suppression of speculation,, whether for the rise or the fall, would result in more harm than good. There is no more efficient stabilizer of values than reasonable and intelligent specu- lation. The increased cost of living is al- ready becoming a subject of serious agitation and public investigations are to be anticipated. The great dan- ger is that congr may be stamped- ed into some sort of rash legislation. All sorts of nostrums will be pro- posed and pushed hard. The present drift is toward more and more gov- ernment interference, thus increasing such danger: Wage advances are numerous, and will do much to alle- viate the situation; but more or less unrest must be endured until the na- tion has adjusted itself to the high level %pnces, which is worldwide as a resulof the war and likely to be more or less permanent. Some reac- tion is to be expected when peace comes; jput scarcity of materials and labor coupled with advancing wages will prevent any material fall in com- modities for a long period; and the corrective can only come through natural proces: of increased produc- tion and decreased consumption. All the great powers now at war have made prodigious efforts at’ keeping down prices, only to fail; and their efforts to enforce economy have not been half as effectual in this direction as advancing prices, Both Great Brit- ain and Germany have strenuously endeavored to regulate supplies and prices, with more success and intelli- gence than other nations; yet neither has attained any real measure of suc- cess. Germany’s campaign in Rumania is a matter of much military import- ance, because, if successful, it will provide Germany with vast supplies of grain, meat and oil. Rumania is a great agricultural country, ranking third as a grain producer in the world. That the war is not progres- sing rapidly enough is evidenced by the present friction in high political circles in Great Britain. Hence, in order to secure a more vigorous prose- cution of the war, she has made Lloyd-George premier in place of Mr. Asquith. Through all the darkness and confusion hanging over KEurope, there is stil] no gleam as yet of peace; for, while Germany seems prepared to consider terms, the Allies display a determination to push the war to more favorable conclusions. Operations on the stock market have been on a diminished scale, due of course to the restrictions of the money market. Aside from this fac- tor, there has been on real change in the financial situation. Within the last two or three weeks there has been very considerable liquidation and the decline has reached greater proportions than anticipated. The technical position of the market has been strengthened somewhat by these developments, but no pronounced im- provement can be looked for until the monetary situation is clarified. Many of our industrial and financial con- cerns are making exceedingly satis- factory reports; so, too, are the prin- cipal railroad corporations. A~ few are making amazing profits. only a; portion of which are likely at present to go to stockholders. The increased cost of doing business is generally recognized, also the tendency of ad- vancing wages. Managers are gener- ally pursuing a policy of strengthen- ing their concerns to meet possible cies arising out of the pri and it is usually ofits have about reached their zenith and probably will not be dupli- cated in 1917. There is an excellent investment demand for all desirable issues which promises to be augment- { ed by liberal January disbursements. Many new offerings are ot a few of which are attractive, but intending purchasers should be on guard against question- able promotions which present con- ditions encourage. When the current liquidation has run its course, re- newed speculative activity and a bet- ter market may be expected, provid- ed the monetary situation improves and no untoward developments occur in foreign or domestic politics. The possibilities of difficulty with either Germany or Mexico are still with us and should not be forgotten. HENRY CLEWS. being made, exceedingly City ltems Our Neckwear at 65c¢, considering quality and style, cannot be bought elsewhere for $1.00. See for your- self. Bess Leland’s.—adwvt. Mufflers al] prices at Besse-Le- land’s. More for Less.—advt, “Tonight, Odd Fellows Bazar, Jr. O. U. A. M. hall, Hungerford Court.” —advt, Buying for 38 stores enables us to give More Quality for Less Money. B -Leland’s. See the point?—advt. Our Christmas stock the largest and best selected in New Britain. Besse- Leland’s.—advt. Last day of our $3.98 Children's Suit Sale. Besse-Leland’s.—advt. The Freestone club of the First Baptist church will have a rehearsal this evening at 7:40, Extra count Shirts, fast colors and boxed, 95c at Besse-Leland’s.—advt. For Jewelry It's Besse-Leland’s of course.—advt. For Combination Leland’s. More for Less.—advt. More Silk Mufflers at Besse-Le- land’s than in all other stores. Moré for Less.—advt. For your Neckwear Besse-Leland’s, of course.——advt. Slippers for the whole family. for less at Besse-Leland's—advt. The Gift Store for Men. B land’s.—advt. Sets it's Besse- A special meeting of the Rev. W. A, Harty branch, A. O. H., will be held this evening at 7:30 o’clock to take action on the death of Michael J. Claughsey. Neckwear the other. A wholesale Besse-Leland New B clothing store. Be! Leland’s.—advt, Novel and Unusual Gifts at Besse- Leland’s.- Our Ne: from one end of store to Besse-Leland Co.—advt. of Neckwear at advt. kwear at 50c, considering the rich silk and model, you will pay 85¢ for elsewhere. Besse-Leland Co. advt. Mann is| conceded | A. KATTEN & SON WAISTS As CHRISTMAS GIFTS Sizes 36 to 55, » In all materials——$1.95 to $9.95 PARTY GOWNS Our new models in party gowns present that style simplicity and col- or harmony which characterizes the most exclusive productions of the high class modiste. $13.95 to $47.50. 1ARIror PRICE C}0 * MARKET IS RECOVERING ¢ Today and Impression is that Up- ward Movement of Stock Has Begun The day on the Hartford stock ex- change proved an encouraging one for Bristol & Judd made satis- factory gains while all the other se- | curities held up strong. The brokers | stated this morning that it is their be- lief that the tide had turned, that the | rock bottom of prices had been reached and from now on the trend will be upward. The day’s quota- tions follow: for brokers and traders, Brass and North American Brass x-d.. American Hardware. . American Silver Billings & Bristol B: e Colt's Fire Arms Fagle Lock Landers, Frary Marine Lamp arlin Arms Britain Machine ement-Pond Stanley Works . Standard Screw Torrington Traut & Hine Union Mfg ... National Surety IN DIVORCE COURT. Two Wives Obtain Decree From ring Spouses. Mary Cosgrove, claiming New York as her home, was granted a decree of divorce in the superior court yester- day afternoon. after Judge Milton A. Shumway had listened to her tale of how her husband, = Private . Timothy Cosgrove, Ninth U. S. cavalry, now stationed at the Mexican border, had married her in Florida and after bringing her north as far as New York, deserted her two days later. At the time of the scparation, Cosgrove promised to send for her , but he failed to keep his promise, she claims. This was in 1908, and she has failed to receive any support from him since that time. The decree gives her the right to assume her maiden name. lon for American ideas, books, new papers, etc., evidently caused him to become riled at times and as a result wife, Helen Jozefiak Golon, was forced to bear the brunt of his tem- perament. This was the substance of the story told by the woman yesterday in application for a divorce. Wed- ding bells sounded for the couple in 1910 and two years later the defend- ant went his way, leaving his wife alone. Judge Shumway granted the degree and the custody of a minor child. | | Each One in a Scparate Holly Box. Bristol Brass and North & Judd Gain | | Goodrich Rub The evident distaste of Joseph Go- Represented by 31 West Main Street, 100 shs North [Richter&Co. MEMBERS NEW YORK STOCK EXCHANGE E. W. EDDY City Hall Bailding Telephone 1840 100 shs Stanley Works & Judd 100 shs American Hardware 100 shs Bristol Brass 100 shs Niles-Bement-Pond ; 50 shs American Brass Co. 50 shs Colt’s Arms ] 50 shs Scovill Mfg. Co. FINANCIAL NEWS 'UNGERTAINTY PUTY STOCK BOOM BACK All Lines Suffer Through Short | Selling and Liquidation Wall Street—sShort selling and liquidation, inspired by adverse re- ports dealing with export trade con- ditions and fears of untoward devel- opments over the week-end, combined to bring about a general depression of quoted values in today's short but active session, Coppers were again the center of a concerted attack, losing 1 to 3 points, but leading industrials, equipments and shipping shares suffered in equal measure, with United States Steel at an extreme decline of over 2 points. Rajls were relatively more steady though Reading yielded almost two points, There were a few unimportant ex- ceptions to the lower trend, with some substantial rallies in the later dealings. The closing was heavy. Bonds were lower. Total sales were estimated at %50,000 shares. New York Stock Exchange quota- tions furnished by Richter & Co., members of the New York Stock Ex- change. Represented by E. W. Eddy. Dec. 9, 1916 High Low Close ..106% 104% 10 13 12% 12 75 % Am Beet Sugar Alaska Gold Am Car & Fdy Co. Am Ice Am Can Am Loco . Am Smelting .. Am Sugar .. Am Tobacco Am Tel & Tel. Anaconda Cop AT S Fe Ry Baldwin Loco Beth Steel ... Butte Superior Canadian Pacific Central T.eather Ches & Ohio . Chino Copper ... Chi Mil & St Paul. Col F Crucible Distillers Erie Brie General % Y% 301 62 Y 61% 92 1133 115 220 128 96 1% 1047% | 80 % 85 % 644 1% 167 1091 67% Col. Sec Blectric 1787% 69 Great Nor pfd ...117% Gt Nor Ore Cetfs. 431 Inspiration 6814 Kansas City so 27 Kennecott Coppe 56 3% Lack Steel 1043 Lehigh Valley ... 81% Louis & Nash .132 Max Mot com 4% Mex Petrol .1085 N Y Air Brake ..169% N Y C & Hud Nev Cons e AR EERK BESR 81% 132 74 107 1691 1061 3114 b57% 32 111 138 273 565 - 81 3234 109 % 8614 98% 30 69 % 1198 202% 202% 51% 518 145% 145% 161 161% 120% 122% 66 ., 665 123% 124% 121% “121% 48 48 61 61 102 10214 37% 38 TO SPEAK. N L Ont & West Nor Pac .111% Norf & West . .140 Pac Mall S § Co.. 29 Penn R R ... Pressed Steel C Ray Cons Reading Rep I & So Pac So Ry So Ry Studebaker Texas Oil Third Ave Union Pac United Fruit Utah Cop U S Rub U S Steel . ol U S Steel pfd Va Car Chem Westinghouse Western Union Willys Overland 111% 13834 2744 56% 82% 32% 109 % 87%. 987% 31 693 120% 515 146 161% 5 123% Co " 4 125%; .121% 49% 61% .102% 38% ATTORNEY BURK Hartford Lawyer- to Address Holy Name Society. Attornew John J. Burke of TEagt Hartford will address a meeting of St. Mary’s Holy Name society tomof- row evening. [The usual business rou= tine will precede the address The speaker is one of the recemt acquisitions to the Connecticut bar and will be a member of the coming legislature, having been elected at a& recent election. He is an alumnus of the Catholic university and was the winner of the Rector’'s prize for de- bate. East BANQUET AT ST. JOSEPH'S, Congressman Lonergan Will Speak at Affair Next Tuesday Evening. St. Joseph's Holy Name society will hold a banquet to which 300 have been invited, in the school hall next Tuesday evening. There will be & musical program in connection with the banquet. Attorney Joseph Woods will act t as toastmaster and Congressman Aug- ustine Lonergan will be one of the speakers, as will Attorney William. Mulligan of Thompsonville. NEW BRITAIN NATIONAL BANK BUILDING. REPRESENTED BY L. S, JONES. BEACH & AUSTIN ROOM 410 TEL. 2120 AM. BRASS, BRISTOL BRASS AND NORTH & JUDD BOUGHT AND SOLD York, Boston, Chicago. Direct private wires to Hornblower & Weeks, New Executor or Administrator. CAPITAL $750,000. Connecticut Trust and Safe Deposit Co. A STRONG, RELIABLE CORPORATION organized and qualified through years of efficient, trustworthy service, to act as Conservator, Guardian SURPLUS §750,000 Connecticut Trust and Safe Deposit Co. M. H. WHAPLES, Pres't R s HARTFORD, CONN, # o