New Britain Herald Newspaper, December 29, 1917, Page 9

Bt '~ MID- Mid-Winter Sale of Suits and Qvercoats Satarday Morning, December 29. This Sale ludes Stein Bloch and Shuman Clothing; Paragon Berkshire Trousers. NOW $14.00 NOW 16.00 NOW $18.00 NOW $20.00 NOW $22.00 NOW $24.00 Suits NOW $36.00 E FARREL '271 MAIN STREET Britain Nat. Bastk Christ- ht. Open'7 to'9 p. m. is indisposed at his nut street. WINTER i MEN’S' OVERCOATS : Overcoats CLOTHING CO. ! bering over 7,000,000. IN PACKERS’ CONTROL Fedesal Trade Conmmission Closes Its Investigation For the Time ’s 1st anniversary sale/| y;” '® a. m., Jan. 3. 29.—Rev. Thomas B. today was ap- at St. Joseph’s church ) Rt. Rev. Bishop Nilan to ., James J. McGettrick, #9840 his' hame in Danbury ll-heaith. Father Mc- ‘has béen prefect of St. b2 ATY, Was orddined last <sang his first solemn R Day at St -| federal Being. Boston, Dec. 29.—Control by the packers of the hide and leather in- dustry, as well ‘as the rendering busi- ness with its many branches, was in- dicated by the evidence elicited by the trade ecommission which closed for the time being fts local in- Quiry into' the country’s meat indue- try today. ‘As'J. E, Malongy, of the Brighton Dressed [Meat company told of selling i his -hideés to the American Hide and Leather company F. J. Henry, the | commission’s special ootinsel, asked if ihe was aware that that was a Swift concern. ‘The rendering company which took the waste of Mr. Malon- ey’s company and the property own- ers he paid rent to, Mr. Henry said, were directly or indirectly in control of the Swifts. The witness did not know, he said. The story of an attempt to operate an independent rendering _comfbany - was related by Wm. M. McDonald at present engaged in the wholesale .meat business here. 'KING GUSTAVE TALKS OF FINLAND AMBITION Teils Delegaion of Fins That He Is Following Closely Finland's Eftorts. Stockholm, Dec. 29.—Sympathy with Finland’s movement for inde- pendence was expressed today by King Gustave in addressing & depu- tation of Finmnish publicists who ap- peared with an appeal for recognition by Sweden of an independent Finland. “} assure you,” said the Kig, ‘‘that I am and my government are follow- ing with warm sympathy the efforts of Finland to attain compléte inde- pendence and it is our keen desire to recognize Finland as an independent state. The important thing in this question, however, is the possibility of an agreement betwegn your coun- try and Russia but I hope for a fa- vorable solution as the resiult of your efforts. Naturally the attitude of oth- er powers also must be considered.” COLD IN WINSTED. Snow and -extreme cold hit the Central New Emgland railroad hard today and all traffic was delayed. Motive power was affected, as two re- lief engines in the West Winsted yards froze during the night because of shartage of help which left them un- attended. The mercury here at mid- forenoon stood at 2 below zero. RELEASE A.‘VI'ERJ('JANi.z | Washington, Dec. 29.—B. R. Ste- vens, manager of the National City branch bank in Petrograd, and his as- sistant, a Mr. Link, arrested when the Bolsheviki seized the bank, have been released, American Ambassador Fran- cis reported today. BURGLAR WAS MASKED. Joseph Casarino of 139 Washington street complained to the police today that a masked man attempted to force his way ‘into his house at 4 | o’clock this morning. . 10 BELOW ZERO. Danbury; Dec. 29.—The :tempera- ture dropped to 10 degrees below zero in this vicinity early this morning. Smow, accompanied by a stift wind, | fell heavily during the morning, with i the temperature several degrees below ZeTro. THE OOAL SITUATION. ‘Washington, Dec. 29.—With L. A. Snead, head of the fuel administra- tion’s distributing . agency on the stand, the senate committee investi- gating the coal situation today con- " tinued its effort to bring out the rea- , sons for the nation-wide coal short- Henry Clews’ Weekly Letter New York, December 29, 1917.— Over 50,000,000 men are under arms ' turned from production to destruc- tion. Over 12,000,000 men have been l killed or permanently injured = since the war began, the killed alone num- Oger’ $100,- 000,700,000 have already ‘been ex- ‘pendec by the nations at war and at present 13te of rising expenditure the cost will exceed $150,000,000,000 when the end of the fourth year is reached next Auguet. ‘When it is remembered that for | every man at the front from three to five are required et the rear for his support, it follows that between 150,000,000 and 200,000,000 men have been withdrawn from the normal channels of prodyction into the ab- normal.. No wonder that the world is facing a serious economic famine, not only in food and clothing, but also in the innumerable materials re- quired for human comfort and" sup- port. The loss in life and money only partly measures the colossal bill for | damages, which wil] be a crushing burden for generatioms. Such a bill must also include the setback to moral and spiritual forces, the in- heritance of bitterness, the detri- mental effects upon art, literature, sclence, education‘and all the varied socia]l and political activities Which are part of our civilization. These are losses that will leave their im- press upon the nations for many fu- ture decades. The material losses such as destructton of factories, rail- roads, ships, cities, etc., though less important than those just mentioned, are visible and mote readily offset by new energies and resources that will promptly develop with the advent of peace. The huge cost of this war can be appreciated when it 1s considered tirt the six great warg 6 preceding—the Russo-Japanese, the Boer, the Franco- Prussten, the American Civil war, the Crinfean and the Napoleonic wars— cost about $23,000,000,000, as against $150,000,000,000, the estimate of this war up to next August. Great Britain will then have spent $34,000,000,000, including $6,000,000,000 in loans = tu Allies, and good authorities estimate that in these three years the warring powerg will have quadrupled ' their debts, the interest on which already amounts to $5,000,000. it would seem as if such burdens would break the back of any nation, vet the tremen- dous development of resources, and the great potentia] recuperative pow- ers of the various nations afford good bagls for the belief that, recovery will be more rapid than expected. This country will recover with a bound ‘when peace comes, and the gain from our exports and newly opened mar- kets will largely offset present losses. Great Britain will certainly recuper- ate rapidly, as she has always done after each war. Germany will make tremendous efforts at recovery, though handicapped by impaired finances and the break up of her forel trade. She should not be hampered™ when peace comes by retaliatory tariffs; they would only keep jealousy alive and limit her purchasing powers from the most serious after-war problems will be that 'of deflation; Germany, Russia and France have trebled or quadrupled their 1issue of paper money.; England is the only leading nation in Europe redeeming fts obli- gations in gold. Fffects of War Upon United States. In the political machinery of the United States revolutionary changes have already taken place and others are imminent. Within a few short months government regulation of in- dustry has\been established on a scale that would have required many vears to put into effect in times of peace.. Our vast railway system has come under government control, and is not likely to return to the old sys< tem of scattered private management. Rallroad unification will remain, and the tendency of centralization prom- ises to surpass the wildest dreams of even a disciple of Harriman. Govern- ment ownership is not vet in sight, but government control has been adopted, to the benefit of the public and the roadroads alike. Government regulation of industry has also been’ actepted on an elaborate scale, though likely to be less permanent than in the case of the railroads. Con- trol has been confined chiefly to dis- tribution and price fixing, the policy of the government having wisely been to allow liberal profits in order to stimulate production without permit- ting profiteering. The policy of price fixing under Mr. Hoover has been eminently successful in restraining profiteering, but has not succeeded in lowering prices; nor is that possible when the entire world is threatened with starvation, or until production has been increased. When peace comes some of these government ac- tivities will be closed, although = large measure of control over industry and trade is sure to remain. Upon the United States the most striking effects of war have been a marvelous expansion of banking pow- er; the change from a debtor to a creditor nation; a sensational devel- opment in our foreign commerce; the sudden creation of a great mer- cantile marine; the birth of an im- portant chemical industry; the great expansion of our steel industry, and the raising of agricultural products valued at $21,000,000,000, compared with $14,000,000,000 a year ago. On the other hand Germany as a result of war has lost the second place as a maritime power; also her foreign trade, her colonies, her Far Eastern schemes, and her chemical industry; not to speak of internal political, so- cial and economic derangement and. her lost standing among ‘the mations of the world. Asgainst these losses she has a poor)offast.ip the varied slices of territory which shé has seised | in Europe, but will not be permitted to keep. Perhaps the greatest surprise of the war was our suddenly developed pow- er as an . international banker. Since the war began we have loaned Bu- rope over $8,000,000,000, most of which was expended for munitions produced within our own boundaries. ‘We have practically repurchased all American securities held abroad. We ! in Europe, whose energies have been | have extended huge loans to all of ‘the Allies, and changed from being a debtor to a creditor nation. For the last twelve months we have been the leading .banking power of the world. In the process we have accumulated a vast store of gold, amounting tu considerably over $3,000,000,000. We are the only country that has benefited largely by the war; and this through no selfish effort of pur own. Some of. the belligerents are already on the edge of bankruptcy. ‘Great Britain suffered relatively less than any other nation, excepting ourselves, and will undoubtedly recuperate rapidly. But no nation will be so well prepared for great forward strides as the United Stateg with its increased prestige, Its great banking power and its immense and highly organized industries. What the future holds in store for various belligerents is not divulged; but it is encouraging to know that history proves that all nations have usually shown recuperative powers after the war. Rebirth of Shipping and Chemical 4 Industries. Another remarkable effect of the war upon the United States has been our almost instantaneous leap from the bottom as a maritime power to next the tqp. Thanks to the subma- rine, we were forced to offset its ruth. less work by building ships to the extent of over 1,000,000 tons in 1917, while in 1918 it is expected we shall add another 2,500,000 tons. Our present building program calls for nearly 9,000,000 tons. Thanks to the submarine again, we shall quickly oc- cupy the place which Germany for- merly held as second maritime power of the world.. Great Britain still easily holds first place, which she has retained for many years as the largest carrier, the largest banker and the largest merchant in the world. Her great mercantile fleet is the out- 8rowth of her vast empire and the enormous commence built up by her worldwide liberal policies. Our own new-born ehipping industry, which e\to us so unexpectedly, has a tical period to face. It was created in a tjme of fabulous freight rates and has yet to meet the stress of in- tense foreign competition. Europe has long been able to build and oper- ate ships much more cheaply than we, through possession of & supply of skilled labor and management not yet available in the United States. Our success in meeting foreign competi- tion will depend entirely upon giving our shipowners a fair chance to con- duct their business with as much free- dom as their rivals. Until some of the restrictions now imposed by law are removed, the chances of the Amer- ican merchant marine securing a per- manent footing will be seriously |handicapped. | An added benefit of the war ,also at Germany’s expense, Is the opening of new opportunities for export trade. This is especially true of South America, where Ameri- can enterprise is already entrenching itself and preparing to aid in the'de- velopment of the boundless resources of that contiment.’ In Russia also, there are large opportunities for new enterprise which will be available after the war. Our banking interests veloping the resources of these great territories with American capital and American enterprise. The miraculous birth of a great chemical industry should not be over- looked. Since the (war began, over $320,600,000 have been. invested in new cheniical ventures in this coun- try, Conslderable of this sum was for the manufacture of explosives, but much of it has been applied to chemical and dye plants that will be- come a permanent factor in American industry. This industry means an- other big loss to Germany; and it has still to face a critical period when normal conditions return. Gérman competition in dyes and chemicals af- ter the war will unquestionably be se- vere; and in all probability congress will be asked to grant some measure of protection, at least until the indus- try has been sufficiently established to hold its own. The Rush of Foreign Trade. Our foreign trade is expanding at a tremendous pace. During the ten months ending October 3, American exports reached $5,150,000,000 an in- crease of $707,000,000 over the same time last year. Presumably i these figures include shipments of muni- tions to the Allies, but rot those in- tended for our own use. Imports of merchandise during the samé period amounting to $2,646,000,000, or $213,- crease of $494,000,000. This left an excess of exports for the ten months amounting to 2,64$6,000,000, or $213,- 000,000 more than a year agb. While this great balance in our favor is being gradually liquidated in various ways, the great bulk of it is unques- tionably being met by credits in the form-of notes and bond issues to our Allies. Here is a striking confirma- tion of how the war has suddeniy transformed us from a big debtor na- tion into a still bigger creditor na- tion. As might be expécted, the gain in exports was chiefly with our Allies; shipments to countries contiguous to the enemy having shown heavy, de- clines. To France our exports during these ten months gained $94,000,000; to Italy, $93,000,000; to Russia in Eu- rope, $46,000,00 to Great Britain, $116,000,000; to Canada, $212,000,- 000, and to Japan, $46,000,000. By contrast our exports to Belgium, Den- mark, Greece, Holland, Norway and ‘Sweden showed a decline of nearly $§0,000,000, a phrinkage for which our embargo was largely responsible. The mdst impressive gain in Ameri- can exports was to Canada, whose purchases from us during this period rose from $481,000,000 to $693,000,~ 000, which far exceed all our exports to Sonth America. Meanwhile, our jmports from Canada rose from $187,~ 000,000 .to_3$328,000,000, a fotal for- O hads it thatedientey of 31.- 0321,000,000. Although econsiderable of this increase was due to munition shipménts, it is surely time to seek a more liberal trade policy between two such good neighbors as the United States and Canada without slacken- ing in our attentions to South Amer- ica. Our New Point of View. This war has also forced a vital change in our international position. Hereafter we shall look outward as well as inward; we will be vastly more interested in foreign ventures, and will find ourselves obliged to take an in- terest in foreign politics and foreign economic and social affairs. sciousness; a consclousness that we need, other and larger fields for em- ployment of our expanding resources, energy and skill. We can supply the world with many things hitherto sup- plied chiefly by Britain and Germany. The latter, though much crippled, ‘will make strenuous efforts to regain her ‘lost hold. Great Britain, re-energized by war, will be fully occupied in her { own customary markets, even if tem- porarily crippled: by the war. The United States is splendidly equipped to enter foreign markets, particularly in the steel and allied industries, and the country can look forward in con- fidence to such outlets for our new growth. We possess capital in abun- dance, and investors must be encour- aged to venture into foreign fields. Our bankers, our manufacturers, our merchants and our carriers must also learn the value of co-operation and co-ordination for the common purpose of winning foreign rkets on sound and peaceful Hnufishly developed organization is e ial to success. We must realize that if we wish to sell, we must also be ready to buy, and that all unnecessary restrictions upon legitimate commercial intercourse must be abolished in order to facili- tate sound and natural development. ‘When peace comes there should be no imposing of retallatory tariffs and boycotts upon the vanquished. Such a policy would prove both foolish' and immoral. Hope for the Future. As we close the year the question can hardly be avoided, what has brought this holocaust of misery and hate into the world? Nothing but a soulless, ruthless autocracy, bent upon trampling over the liberties of the en- tire world simply to accomplish its own tyrannical selfish ends. The re- sult is a veritable day of judgment oagainst the worship of force and egoism which are the basic ideals of Prussianism. Fortunately these ideals are so hostile to human nature and so incompatible with the modern sense of liberty that they must and will be crushed; the uprising of the whole civilized world foreboding their ex- tinction. Concerning the future the immed- iate outlook appears dark; because, while confildent of victory, the price has not been paid and cannot be paid until militarism has been destroyed. 1t may be that peace will come sooner than expected; an event for which the country can devoutly pray. Conre it will eventually; and out of the travail and pain through which we are now laboring a new and better world will be born. There will still be unrest and strife; but bloodshed will cease, hatred will subside, more humane and more ethical standards of conduct will prevail; and for the new generations to come we may hope for an era of peacef and good will growing out of this Nfe and death struggle between democracy , and autocracy. ‘Hope should be the keynote of the new vear. HENRY CLEWS. POSTCRIPT—The proclamation of President Wilson taking over control of the railroads is one of the most important domestic events of the war. It arrests at a stroke the undercur- rent of distrust, which was undermin- ing railroad eredit, and threatened the entire financial fabric. It assures fair play to the owners, the users and the workers on the railroads, and will pre- vent any one of these divisions un- duly imposing their will upon others. It will also assure better transporta- tion, which is necessary to win the war, and allow the roads compensa- tion in some form for increased .,ex- penses. A radical ehange for the bet- ter is promised American railroads. Y. W. C. A. NOTES. There are still a few vacancies in the Monday evening swimming class es. Even though you are busy your body must not be neglected, and swimming is the ideal exercise for wo- men. Our pool is keft clean and warm by all the modern appliances. If swimming in cold weather does not appeal to you join the gym class and forget the world and its troubles for one hour a week. The exercise and fun is just what we all neqd to keep us going through this hard win- ter. Visitors are welcome on Tuesday evenings'to watch us in action. PROTEST BY DANES. London, Dec. 29.—According to a German newspaper the Danish gov- ernment has protested to. Washington agains the internment of German sailors at St. Thomas. Before taking over the Danish est Indies, the United States is said to have guara teed that the Germans there would be treated as neutrals until the end of the war. VERY GOOD EDDIE. Edward P. McAloon, star route messenger at the post office, set a record during the Christmas rush of which the officials at the office are justly proud. Between December 19 and 26, Mr. McAloon handled more than 10,000 sacks of mail from the Berlin depot and his efficiency as mes- senger was again clearly evinced. ELKS' DEPUTY COMING. Micheel B.” Reldy of Naugatuck, district deputy grand exalted ruler of Plks' for Connecticut;, wilt pay an ofi- cial visit to Néw Britain lodge, B. P. O. ‘E., Thursday évening, January 17. COKE PRICES. ‘Washington, Deec. 29.—There Wwill be no general revision of coke prices for the year 1918. Fuel Administra. tor Garfleld today jssued an order continuing in forgg the” prices fixed last September. ’ 7 ‘We have ! been rudely awakened to a new con- | RICHTER! MEMBERS NEW YORK STOOK TEL. 2040. ~ UNION MFG. G to yield about 5 —~———— Financial ECIDED GAINS IN - SPECIAL " STOCKS Industrial Alcobol and American ; Tobacco Among the Favored Ones' Wail Street—Gains of the past two days were added to in the first half | of today's active stock market. Much of the advantage was lost at the end on extensive eelling for profit. Minor rails were 1 to 2 points higher _at | their best and ‘munitions and ‘the motor group also developed strength. | U.” 8. Stee] moved fractionally over and under yesterday's final price. There were some declded gains in spe- cial stocks as Industrial Alcohol and American Tobacco. The closing was irregular. Sales approximated 450,- 000 shares. Liberty 4's sold at 97.14 l'to 96.98 and the 3%'s at 98.50 to 98.42. | New York Stock Exchange. quota- tions furnished by Richter & Co., members of the New York Stock Ex- change. Dec. 29, 1917 High Low Close 69 68 69 1% 1% 1% 69% 69% 69% 37% 36 36% 56 54% 54% 76%. 5% 5% ..1413% 137 141% ..104% 104 104% 59 583 59 86 ' 84% 84% 58% 57% 57y B33% 521 44 42% 73 73 Am Beet Sugar .. Alaska Golq Am Car & Fdy Co. Am Can Am Loco cesen Am Smelting .. | Am Tobaecco Am Tel & Tel Anaconda Cop ... AT S Fe Ry Co. Baldwin Loco BIR .. Beth Steel .. .. Butte Superior ... 145% 143 Canadian Pacific .1378 13714 Central Leather .. 62% 61 Cheg & Ohio ..... 51% 50 Chino Copper .... 40% 40% [ Chi Mil & St Paul. 47% 46% Col B & ¥2C 35% 353 Cons Gas .. 83 Cruycible _Steel 52% Del & Hudson .108% Distillers Sec 331 Erie . 1714 Erie 1st pfd ... General Electric Goodrich Rub . Great Nor pfd . Gt Nor Ore Cetfs. Illinois Central Inspiration Interborough Interboro ptd Kansag City so . Kennecott Cop . Lack Steel Lehigh Val Louis & Nash . Max Mot com ?.. Mex Petrol N Y C & Hud Nev Cons . NYNH&HRR N Y Ont & West . Nor Pac Norf & West .. Pac Mail § § Co. Penn R R .... Peoples Gas .. Pressed Steel Car . Ray Cons .. B 4“4 73 145 1373 621 511 401, 47% 3514 823 518 107% 3285 173 28134 127% 37 897% 26 93 | | H % 1043% 104% 23y 247% 46% 46% 37T1% 373 58% 58% 22% Reading .. s Rep I & S com .. So Pac So Ry ... So Ry pfd Studebaker Texas Oil Union Pac United Fruit Utah Cop U S Rub Co”.. U s Steel U S Steel pfd ‘Westinghouse .. ‘Willys Overland . 72% 7% 83% 24 % 59% 49 133 188% 113% 114% 14 114 8% 18% | 50% 50% 871 8814 104% 105 301 403 | 19 2014 CLEARING HOUSE. i New York, Dec. 29.—The actual condition of clearing house banks and trust companies for the week (5 days) shows that they hold $112,376,830 re- serve in excess of legal requirements. This is an increase ‘of $35,185,620 from last week. 52% | GEN. DUPO! [E] ] General Duport, who has pointed chief of the major staff of ' French army. General ;Duport’ Wi born in Alsace in 1864. At the By ,ginning ntehe war he commanded Ninth French infantry regim which did valiant work in the pagne battle. He also helped IA defense of Verdun, and was decol for his work in repulsing the trod led by the crown prince of Germ PENFIELD CAMP AUXILIARY. Service Fig Is Presented to Sons Veterans. A large number of auxiliary sist members of the G. A. R., Sows ‘o Veterans and members of. L. D, 4 field Camp 16, Sons of Ve 8 iliary No. 1 were present Atiil meeting of ‘the year of the | ciety last evening. The patriotic! structor, Mrs. Alico A." M. ' Wesd presented L. D. Penfield’ Cam Sons of Veterans, with a g ice flag. Commander J._ accepted the flag on bebalf of the of Veterans. Miss Carrie F. Smith' 3 plano selections pleasingly. Speet) were made by Assistant' In General Streeter of the G. A. Commanders Rossberg and and Senior Vice Commander (ia S. of V. Miss Alice Woodford two solos. 4 The order is in a flourishing dition, due to the consistent : its members, particularly e .1 served on the various comn 5 the year. The soclety purc f Liberty Bond during the yéar added considerably to its furnishini in the rooms.. Eleven new membefuy have joined the society during year. s, GERMAN ARRESTED. f New York, Dec. 29.—Paul Henni a naturalized German, who had b employed as a foreman in a Brookl} factory engaged in making torpedol for the United States government,: remanded to a jail without bail in: eral court here today charged treason. ARREST COOK. Hartford, Dec. 29.—Albert Schi cook at the Hotel Eltan in Wate; is in the Hartford county jaili Hi an enemy alien and’ without the W cessary permit. He said he know one was necessary for a iy BACK FROM JAPAN ¥ President George P. Hart of tl Stanley Works has returned from business trip through Japan. He a rived home Thursday. E CARL YOUNGBELAD, M. S.; Gradus! Masseur, 74 West Main St, Ol 'Phone, 428-13; Residence 'PI 675-5. Thermolite Bath, M; 0 Vibration, Neuritis, Rheumatis: Impeded Circulation. Blectric a ments. Open afternoons and’ ew nings. By appointment at your idence. % Connecticut Trust and Safe Deposit A STRONG, RELIABLE CORPORATION organized and qualified through years of efficient, trustworthy service, to act as Conservator, Guard Executor or Administrator. CAPITOL $750,000. Connecticut Trust and Safe SURPLUS $750,00h . Deposi