New Britain Herald Newspaper, April 14, 1917, Page 11

New Spring Clothing and Furnish- . ings of all kinds for all kinds of men. . How would you like one of these fancy gray casimere Suits with just & touch of color at $20.00? ., Or a blue cheviot with a neat ' 'white hairline at $18.00 or $25.00? Shirts of Silk, Madras, or Percale, in plain and fancy stripes $1 to $2.50. Neckwear, Gloves, Pajamas and Underwear, all here,—all right. NEW BRITAIN, CONN. ALL TEACHERS MUST . SWEAR ALLEGIANCE Henry Clews’ Wae]cly Letter (Special to the Herald.) New York, April 14.—Extraordi- nary eveénts demand extraordinary measures, and the act of Congress au- thorizing issues of- $5,000,000,000 bonds and $2,000,000,000 treasury notes to start with is a historic event of supreme significance. Such an amazing demonstration of financial power on the part of the United States ‘was never expected and will have far reaching ' effects. Undoubtedly it will hasten the end of the war by both moral eéffect and practical results, It is a blunt and effective notice of our intention and our ability to earnestly aid in pushing the war to a successful conclusion. .Of the $5,000,000,000 United States 38 1-2 per cent bonds, $3,000,000,000 are intended for the Alliea This backing, or loaning of our credit on a 3 1-2 per cent, basis, will immensely strengthen the Allies, ‘whose bonds have already undergone a marked advance in consequence. Much of this amount will doubtless be spent on this side for munitions, the result of which will be continued activity in those industries. The fact also that the bonds will be held in this country will avert the strain upon foreign exchange that would follow 1f payments were made from abroad, and will render it much easier tq control exchange in the future. Sales of foreign holdings of. Americans will also be correspondingly discouraged. The -dates of issue must be left to discretion of the government, which will undoubtedly take all factors of public interest into full consideration. The bond issue will be an unques- tioned success. It will be so for pa- triotic reasons, also for business reasons, and especially because of their freedom from taxation which will popularize them among financial institutions and holders of large for- tunes. A good return, 3 1-2 per cent. is offered for a bond of the very high- est grade. American credit is now above that of any other nation in the chool Board lakes Patriotism Dualification for Appointment IS L 4 Allégiance to the United States will be the pledge required of all teachers #engaged by the school board for the coming year. The school board, at its monthly meeting yesterday after- “ moon, passed the resolution which will make all teachers take the following pledge before they can accept posi- tions in the local schools: “I, the undersigned teacher in the blic schools of the City. ef New tafn, hereby declare my unqualified ;allegiance to the government of the ‘ "United States of America and the State of Connecticut and pledge my- - self, by word and example, to teach and impress upon all my pupils the duty of loval obedience and patriotic rvice as the highest ideal of Ameri- . can citizenship.” Raise for Superintendent Holmes. Judge Gaffney, presiding, an- nounced that Stanley H. Holmes was / again a candidate for re-election as # superintendent of schools and he was 5 unanimously chesen. L, Hoyt Pease . thought the board should show its ' appreciationtof Mr, Holmes’ work by giving him a substantial increase in © salary and it was voted to make his Ui sAlary $4,600 per year, an increase of $500. When informed of the board's action Superintendent Holmes thanked . the members and said the increase in _ galary came as a distinct surprise, Superintendent Holmes explained " that the school calendar year of 180 davs will permit the Grammar school to close for the summer vacation on "gune 22 and the the High school on une 29. His recomendation was that the Grammar school exercises be held on June 21 and the High - school ~ graduation exercises on June 28. He | also recommended the use of Fox's theater If it can be secured. To the world; for thus far we have escaped the strain of war and that which we now undertake will be easlly borne, while the debt per capita of this country is infinitesimal compared with that of European nations, our re- sources being greater than any. ‘When this warjis finished the United States will enjoy an incalculable ad- vantage in its freedom from the crushing load of public debt that the nations pf Burope must struggle under for generations to come. ~ Our food problem is already excit- ing serious attention. In reality there is no cause for public alarm for there is undoubtedly enough food in the United States to go around, with a good surplus remaining for export to help feed the millions of hungry and half starving people of Europe. But there is need for caution, since in a few lines there is positive scarcity, and two ways of relief are within our grasp, viz.: economy in the home, and larger product on the farm. Much food is wasted, particularly in hotels. restaurants and clubs, and as yet we have more to learn regarding scienti- fic utilization of all waste. As for larger product, that is attainable through more scientific and intensive cultivation, plus the largest possible acreage. Probably the farmer will suffer somewhat by the withdrawals of men into the ai , but the serious- ness of this may be exaggerated, for the bulk of the recruits will be taken from cities, the counting room and factory having provided a large share of Europe's vast armies. Then, much can be accomplished by a wider use of modern agricultural machinery: the gasoline tractor for Instance, which supersedes the horse and promises to revolutionize existing methods of cul- tivation. There is, thefefore, no rea- son whatever for public alarm about the food outlook. Last year's short wheat crop and the locking up of vast supplies in Russia have been the main factors in present high prices of wheat, and our farmers should plant every available acre to make good all deficiencies, especially the threatened . superintendent was left the matter of baving the school children participate i the celebration next Thursday. “President Albert F. Corbin of the Boy Scouts sent a letter to the school - board explaining that the }. Scouts would like to have the use of . & Toom in the Elm, Stanley Quarter, FGrammar, Smith, Smalley and East . street schools in which to assemble [“for class work. The Boy Scouts have classes in first aid work, semaphore .signal work, and @eneral discussions ‘#nd have no place in which to meet. e finance committee is to give this matter due consideration and report later. 2 Other Items Considered, Principal L. P. Slade of the High gehool has asked relative to or- 4 ing a military ur}n among the ys at the school and’his letter was gead to the board members. Chair- man Gaffney thought this'is an in- ovportune time ta begin such work as tfe school year is drawing to a close @nd routine matters will keep the pupils busy. No action was taken. The committee on school accommo- dations was given authority ta pur- shortage in our winter wheat crop, which usually forms about two-thirds of the total. There.has been some talk of Government regulation of food supply, for which it is hoped there will be no necessity. Much de- pends upon the attitude. Speculation in food products should be discour- aged, and consumers should not fall into panic and unduly or selfishly stock up in advance of requirements. There is an admitted shortage of some articles, yet the food situation in this country is nothing like so critical as abroad, and hasty action is unneces- sary in view of the’ fact that new crops 'are already in sight. Our gov- ernment is already considering vari- ous plans of food control, and in case of emergency some form of govern- ment intervention must be anticipated. Over-speculation would simply hasten such measures and insure their greater severity. Stock market conditions are still governed entirely by war. In addition %o the agricultural outlook resulting | from the food problem, also the finan- clal outlook connected with the bond issue, there is the investment outlook taxation problems. At NEV' BRITAIN DAILY HERALD. SATURDAY, APRIL 14, 1917, COURTEOUS-LIBERAL TREATMENT EVERY DOLLAR deposited with us is safe-guarded by approved and _ up-to-date methods. Every patron of this bank is accorded courteous ‘treatment and the most liberal terms consistent with sound banking practice. If you are looking for SAFETY AND SERVICE in a banking connection start an account with us, THE CoMMERCIALTRUST C New B RiITAIN, CoNN sonable methods. Taxing thrift, or discouraging enterprise is not ' good politics or good statesmanship. The proposed withdrawal of $7,000,000,000 of capital if carried out is sure to di- vert vast sums from ordinary channels of investment, thus diminishing the demand for labor and preventing the ordinary growth of business enter- prise. Both bonds and notes will prob- ably be issued in installments for use as needed and the full seven billions may never be needed. Ordinarily this country invests somewhere about two to three billions annually, so that the new bonds if entirely emitted would absorp practically all of the country’s savings for a couple of years, to the exclusion of new enterprises. Some shifting of investments from high grade securities to these new bonds bust be anticipated, but the treasury may be relied upon to avoid unnec- essary shock; the fact cannot be ignored that we are turning the coun- try’s savings on a vast scale from pur- poses of production to destruction. The proposed heavy taxes on profits will naturally excite much discussion and prove an importnt stock market influence. Excessive taxes will also powerfully stimulate the demand for the new bonds, since the owners of large fortunes will doubtless transfer a considerable portion of their inves- ment into this new form of tax-free investment. | Railroad affairs are not as unsatisfactory as appears on the surface. Péor January and February reports which recently appeared were due largely to increased expenses re- sulting from bad weather and higher ‘wages. Gross earnings continue large, and there is good ground for hoping that the Interstate Commerce Com- mission will grant some advance in rates to offset the forced growth of expenses. Peace prospects are not-at the moment a serious factor in the | situation, and the whole business out- look is so uncertain that operations of all sorts should be conducted upon a day-by-day basis until the future ‘becomes more clear. iy —HENRY CLEWS. WORKMAN MAY NOT RECOVER. Seriously Crushed by Falling Elevator Landers, Frary & Clark’s, ‘Wiladislaw Uskavitch, of’51 Wood- land street, injured at the Landers, Frary & Clark plant yesterday noon {when the gears of a freight elevator | broke, allowing a heavy cal to drop four stories into the pit of the shaft, remains in a critical condition at New Britain General hospital, it being re- ported today that grave fears for his recovery are felt by surgeons today. The right &ide of his chest was badly crushed, four ribs were fractured and ‘it is feared one lung was punctured’ in several places. It has also been found that serious injuries were caused to his back and abdomen, Uskavitch was one of three men on the elevator, being used to carry them and a considerable amount of work between departments. He was the only one injured, ‘being crushed against the side of the elevator and its | mechanism by a large basket of | work, which was toppled over by the 'jar. Wonderment is expressed as to how any of the men escaped death. The factory officials are conducting an investigation. 0 Asvrom Y. & HARTFORD. H. O. P. Homespun Suits for Men and Young Men $14.98 to $25.00 Financial SUGARS AND OILS . ALONE IN DEMAND Guhin-American Features Trad- ing With Gain of 11 Points ‘Wall Street.—Speculative issues, notably sugars, oils, shippings . and other semi-war descriptions were the strong features of today’s market with more moderate strength in mu- nitlons and equipments. Cuban- American sugar was conspicuous for its 11 point gain, this being counter- balanced by a break of 9% in Peoples Gas on the cut in the dividend. Oth- er gas shares fell in sympathy. U. S, Steel made an extreme advance of 1% points with 1 to 2 for General Elec- | tric, U. S. Rubber, Goodrich and Wilson Packing. Ralils and coppers were neglected. The closing was strong. /Sales were estimated at 250,- 000 shares. Bonds were irregular. New TYork Stock Exchange quota- tions furnished by Richter & Co., members of the New York Stock Ex- change. Representcd by E. W. Edady. April 14, 1917 High Am Beet ‘Jugar .. 95% Am Ag Chém .... 93% Am Car & Fdy Co. 673% Am Can . 465 Am Can pfd .. 106 Am Loco .. 70 Am Smelting . 101% Am Sugar .. 113% Am Tobacco . 200% Am Tel & Tel 123%% Anaconda Cop ... 80% A TS Fe Ry Co...102% Baldwin Loco 5614 B & O . 76 % BRT.. eo. 87 Butte Superior ... 44% Canadian Pacific .162% Central Leather .. 87% Ches & Ohio . 60% Chino Copper . 55% Cons Gas .... 115y Crucible Steel 643 De] & Hudson ...122 Erie 2814 Erie 1st pfd ..... 42% 41% General Electric .1668% 1665 Goodrich Rub ... 513% 51 Great Nor pfd ....111% 1113 Gt Nor Ore Cetfs. 32% 31% Inspiration 57% Kansas City so 23 Kennecott Cop Lack Steel . Lehigh Val . Low 94 93 671 46% 106 69 . 1013 1123% Closge 95% 93 67% 46% 106 69% 1015 113% 197 1233 803 1028 55% 76 % 67% 44 162 86% 60% 54% 112% 63 121% 28% A 12% DIVIDEND PAYER ' CROWN OIL COMPANY INCORPORATED IN DELAWARE Capitalization .$3,000,000 All common stock. In Treasure $1,870,000 shares Par Value $1.00. PROPERTIES The company own and controls under lcase 51,273 acres of oil lands in the famous Irvine Field, and other fast growing ofl sections of Kentucky. PRODUCTION Negotlations are being made for other holdings. Présent’irtdluction in excess of 300 barrels per day. .Oil grades as Somerset, now qubted $2.18 per bbl. erty, DEVELOPMENT Entire'production being sold to the'‘Cumberland Pipe Line, whose lines run directly through the prop- Company’s Mudam from five wells, representing a development of less than 1 per cent of present holdings. Have ten proven locations immediately available for drilling. which will augment present production and earnings, DIVIDENDS ARE NOW BEING PAID AT THE RATE OF 1% PER MONTH TFirst dividend payable May 16th to stockholders of record April 25th. Dividend checks mailed monthly. EARNINGS Three wells now being drilled, Present carnings are three times in excess of dividend requirements and it is expected that with increased production the stock will return at the rate of 24 per cent per annum within a few weeks’ time. A broad active market for the shares gf the Crown Oil Compay is maintained on the New York Curb, transactions being made as high as $1-3. Outside of returning 12 per cent at present on an investment basis, stock has huge speculative possibilities. the Richter&Co. MEMBERS NEW YORK STOCK EXCHANGE City Hall Building 31 West Main Street, e dy i Telephone 2040 50 shs New Britain Machine Co. 50 shs North & Judd - 50 shs AmericanHardware : 50 shs Stanley Works 50 shs American Brass 50 shs Niles Bement & Pond 50 shs Landers Frary & Clark - Max Mot com Mex Petrol ... N Y C & Hud Nev Cons Nor Pac . Nor & West Penn R R .. Peoples Gas . Pressed Steel Car . 75% 30% 94% 28% 58 913y 215% 1378 1108 57% 112% 118 49% 31% 59% LOCAL STOCKS (Furnished by Richter & Co.) The market has been very quiet with little trading- Closing prices are as follows: \ ¥ Aetna Nut ...... American Brass cee. 312 American Hosiery ..... 80 American Hardware .. 135 American Silver ...... 30 Billings & Spencer . Bristol' Brass Colt’'s Arms . Eagle Lock .,. Landers, Frary & Clark National Marine Lamp New Britain Machine .., North & Judd ........ Peck, Stow & Wilcox .. Russell Mfg. Co. .. Standard Serew Com. Stanley Works ... Traut & Hine .. Union Mfg. Co. ... B Niles, Bement, Pond C. Scovill Mfg. Co. .. Studebaker Texas Oil Union Pac Utah Cop U S Rub Co . U S Steel U S Steel pfd Westinghouse . Willys Overland Midvale 30 33 90 140 33 106 60 104 87 57 36 88 [ 90 31 320 370 102 60 105 172 595 STOCK EXCHANGE FIRM FAILS. New York, April 14.—The failure of the stock exchange firm of Morris and Pope was announced today on the floor- The firm consists of G. Morris, exchange member; . Hathaway Pope and Frank B. ter. The failure is not regarded” important. SAYS AMERICA NUST PA Editor of German Newspaper S Teutons Are Entitled to Inde and U. S. Might as Well Be Bas ‘Amsterdam, April 14 —Germs views of the American situation, expressed in leading newspape! tinue to vary widely, The nische Volks Zeituns,” after President Wilson in the style appears popular in' Germany at ent, says: - ' “We are entitled to a thumping war indemnity, and we do not care pays it. Those states which have s rificed immense sums will be to pay it. Therefore, Americi has earned thousands ' of through munitions and supplies, have to unbutton its pockets. . N need not force America itself to ‘Paj but we hold so many pledges in h that for the Entente it is most, portant to have America as a ban behind them.” On the other hand, the “Frank- furter Zeitung” in a remarkably out-: spoken article freely admits that the: constant pan-German sabre - rattling} has been to a large extent the causef of world-wide hostility toward Ger=: many. E i The newspaper cites violent, tiradess by various writers against all nong: German people, and says: “All this EO"’ rubbish, especiall the crazy ever-fecurring idea thal Germany will seize parts of So America, serves mothing but, to- strengthen the hands of Germanys enemies in America. These are peo- ple who have harmed our cause abroad immeasurably and they have made foreigners believe that their views are those of the German na- . tion.” FRISBIE & CO. / Investment Securities ] 36 PEARL STREET -:- HARTFORD | New Britain Nat’l Bank BI'd’g, New Britain F. W. PORTER, Local WILL Representative. SELL 30 Billings & Spencer 25 American Brass 25 Niles-Bement-Pond WILL BUY 20 Colts Fire Arms 25 Scovill Mfg. Co. chase vacuum cleaner for the Elihu | as affected by "e“: school at :‘:::st of $774. The | this writing the new taxes have not cManer will be purchased of the|been announced, and many of the pro- [ gpencer * Turbine Cleaner company, | posals thus far presented have with- d k The finance committee was authorized | out doubt been for the purpose of in- ito_purchase twenty-four hand fire ex- voking discussion. This country can ‘tinguishers at a cost of $6.80 and it | raise hugh funds Yor carrying on fts also given permission to have the | part of the war without the slightest ogram clock at the High school re- | difficulty. There is no reason, there- palred if such repairs do -not cost| fore, why the amount should not be ofe than $125. Power to enter into | withdrawn gradually. Posterity will contracts for general supplies | chiefly benefit the struggle for free- was also granted the committee. dom and should pay its part.” New That the situation ‘regarding the |taxes should be distributed as equit- purchase of mext winter’s coal supply | ably as possible. Wealth can and will for the schools is very acute was re-! bear the heavle_n share, but there are med by the fihance committec.|large numbers 'who escape taxation 25 Standard Screw ON SUBSCRIPTION: ‘We offer the unsold portion of 500,000 shares Of treasury stock, authorized to be sold for treas- ury purposes. AT $1.00 PER SHARE Subscription books open until Midnight May 8. Send.in your order before April 25th, so that you may participate in the May dividend, ; FOR FURTHER INFORMATION WRITE OR WIRE . J. Kraus & Co. INVESTMENT SECURITIES 131 Main Street, New Britain, Conn. P! Connecticut Trust and Safe Deposit Co. A STRONG, RELIABLE CORPORATION organized and qualified through years of efficient, trustworthy service, to act as_Conservator, Guardiaa Executor or Administrator. ; CAPITAL $750,000. Connecticut Trust and Safe és quoted -vesterday were not|entirely though quite able to pay previously | moderate sums, and these, too, wlll, n, have been withdrawn. probably have to contribute. On the | s thought'the situation suffi-| other hand those responsible for the serious to warrant the calling | conduct of affairs should avoid drying "% special board meeting when the' up the sources of capital by excessive finence committee is ready to buy its| drains, for that way lies industrial coal, the bill. for which amounts to | depression ~and business reaction 112,000 or $15,000 each year. which can easily be avoided by ru.\ nding and other bids, SURPLUS $750,000 Degosit Co. HARTFORD, CONN; Dr. M. H. WHAPLES, Prest.