New Britain Herald Newspaper, April 9, 1921, Page 11

STREET STOCK ANGE REPORTS and {irregular conditions e stock market during to- wession, dealings falling to portions, n for n week- preign industrial conditions ay’s local money flurry restraining influences, the high class rails, notably Pacifie, Union Pacific, nd \Northwestern and New ral Were depressed 1 to 1% | d minor specialties also oderately. This was offset povering in olls, Crucible filwin and American Woolen o 1 to 2 points but the as a whole was insignifi- o _closing was steady. Sales Rcdd 176,000 shares. < STl ST Stock Exchange quotae ed by Richter & Co., the New York Stock High. Low. Clo a8y 36 28% 2834 8% 8% $5% 8G% & Ref 37% 37% [Ret em 90% 89 tra. Tob 7T4% 7 Tel..105% 2% of W 56 p Tran 12 e .,..112% er Co. 82% hio 58 st 24 sl & 24% pper 10% 2144 2% 85% r P pds Ref Steel Sug. hne'n 201% 60% . 1% L1384 13% 37% 60 % 224 4% 13% 50% 145 57 9% 1814 58 5% 39% 25% 17% 4% L3N 93 % 6% 32% etric, . tors . BF) Co ern pfd pn Cop Con Marine Retall St 485 jbber Co. 72% el 81 1 ptd...110 per A8 % Chem 29% on . a8 Y L STOEK MARKET TODAY nished by Richter & Co.) Bid Asked Neainy 124 103 106 134 e Light m N E Tel dware ery ne 856 jand Spencer rms lock ... F and C achine Pond nd Judd vene tow and Wileox Warks Screw com Mtg. Co nd Hine com ... 33 15 210 Quick v meneve ‘ake—=8nfe and WEEK'S REVIEW AND New Books at| IMMEDIATE OUTLOOK Henry Clews, New York Financial | Expert, Gives His Opinions | (Special to The Herald.) New York, April 9.—Unfaorable accounts of conditions in Great Bri- tain growing out of the coal strike situation have been the leading economic feature in foreign news during the past weuk. President Harding's decision not to have the United States become a member of | the League of Nations or to ratify the Treaty of Versailles, as com- municated to the French envoy now in this country and to the German government, which had asked for our assistance, has been the most strik- ing factor of the political situation The advent of congress at the begin- ning of next week should aid in clear- ing up some elements in our interna- tional policy. The Rallroad Situation. While railroad leaders believe that the low point both in volume of freight and in earnings has been reached, and while the March reports of some railroads show an improve- ment over February, the attainment | of a definite basis for railroad opera- tions still remains urgent. President | Harding’s conferences between the managers and the employes as well as his own Inquiry gnto the revenue position with the chiefs of the na- tional bureaus in charge of railroad supervision should result in adjust- ing the issue. There is no apparent expectation of legislative action, al- though the president will probably state the existing conditions to con- gress. Prosecution of the investiga- tion already proposed by Senator Cummins into railroad operating ex- penses. is expected. A definite posi- tion on the part of the administra- tion as regards the attitude to sumed toward railroad wages controversies now pending government bodles is likewise antici- pated. Meantime the activity of the roads in improvement and repair is necessarily limited—a fact which cuts into the business of the rallroad sup- ply companies. Reconstruction Continued. Readjustment of economic relation- ships is still continuing. There was a fresh reduction of prices, amount- ing to perhaps 6 per cent, during March as shown by the reports of wommercial agencies, and according to reliable figures the average level of prices is now down practically to 45 per cent above ite pre-war figures. The staples which have most sharp- Iy fallen were already at or below pre-war levels and show no symp- toma of return to higher figures. This appliés to such necessities as. cotton, copper and many others. The an- nouncement on the part of the Steel Corporation during the past week that reports concerning its alleged in- tent to reduce prices and wages wyere unfounded may mean merely that the statements on the subject were premature. Indications at most of the steel making centers are still to the effect that revision of prices will be necessary in grder to revive rail- road demand or to stimulate very greatly the purchase of steel for use in building. /The number of indus- tries in which a moderate upward tendency of production and employ- ment Is noted has somewhat increased during the past few days, the silk in- dustry now showing a notable de- gree of gain, while others continue to feel the effects of better demand already exhibited. . Exports and Finance. Plans projected by the administra- tion for the relief of the export wit- uation took form in a conference on April 4 which was shared in by rep- resentatives of the treasury, the federal reserve board and the war finance . corporation. Staple produc- ing interests, wheat, cotton and wool were fully represented. The outcome | has been once more to pledge the support of the war finance corporation to the promotion of export ship- ments, although it is still held that ‘American security must 'be given In | each case the government assuming no responsibility for the obligations { foreigners. There is to be pro- Vision for taking care of banks which have become overburdened with Joans to producers who have been obliged to carry over thgir stock from last season’'s yield. The secretary of the treasury has indicated how this may be done by war finance corporation advances and the result may be to enlarge the lending power® of the banks with respect to the mew crop by furnishing a means of relieving them in some measure of excessive | labilitles incurred on account of the | old crop. ‘ Market Review and Outlook. | Moderate trading has been the rule | practically throughout the week. Out- side buying power has been reduced to small proportions so that com- parativeiy little selling is necessary | in order to brinz about reaction from | time to time. The increase in beari:h sentiment of late is shown in the ur- gent borrowing demand for stocks, a demand which extends to nearly all | the actlve stocks on the list. If the| passing of numerous dividends and | the admittedly bad raflroad situation | do not causs any particular “un- | loading” of stocks It is difMcult foresee anything that will shareholders to sell, and without liguidation, of course, the “bear™ operators cannot make much head- way iu putting prices down. Any changes that may take place from now on are believed likely to be on the constructive side. It eannot he denied that there are a number of ob- | stacles to be removed before the market will have clear sailing, but the outlodk Is far from discouraging. N be as- | in the before 10 | induce HENRY CLEWS. | John | POEMS, New Briiain Institute John T. Slattery. delivered before the State College for teachers at bany. Al ‘An excellent study for new read- ers.” Catholic World. sis's DEMOCRACY AND ASSIMILATION, by Julius Drachsler, “A study of the group life of New York's immigrant communitites, particularly the tendencies toward ethnic fusion exhibited by intermar- riage statistics. The author believes that the schoolroom methods of Amer- icanization must be substituted process incorporating the best of both American angd foreign cultures.” A. L. A. Booklist..\ N\ ees DREAMS AND VOICES: song of mother, father and child from DANTE, “lLectures by N. Y. the writings of American and English poets of tgday, compiled by Grace H. Trine. “es FORESTS AND TREES, Hales. “Written to show the value of our forests, and with the practices of forest preservation.” Publisher’s note_ “en HIGH COMPANY, by Harry Lee. “Vers libre sketches telling of the hospital life of wounded returned soldlers. So predominantly narrative that they will be better liked by story readers than by poetry readers.” A. L. A. Booklist. by B. J. e "D AMERICAN IDEALS, by Spargo. “An answer to what the nation calls the ‘utterly slander’ dent.” JEW detestable campaign of in the Dearborn Indepen- “ae by Alec De Candole. Forty-five poems by an English Uniyersity student and soldier, killed in the war. Characterized as ‘greatest literary phenomenon Publisher’s note. ens NEW ITALY, by Helen Zimmern and Antonio Agresti, “A concise, brief survey of Ital attainment of national unity, her present day politics, foreign policies and internal problems, her progress in education, the arts, industrys, ship- ping and railways. The motives which led Italy to enter the world war on the side of_the Allies, and the part which Irredentism has played in her national aspirations are clearly stat- ed™ A. L. A, of the war. Booklist. TWELVE GOOD MUSICIANS: from John Bull to Henry Purcell, Frederick Bridge. vese WHALE HUNTING WITH GUN AND CAMERA by R. C. Andrews. “A naturalist’'s account of the modern shore-whaling industry, of whales and their habits, and of hunt- ing experiences in various parts of the world, based upon knowledge gained during the last eight years when the author traveled twice around the world, twice to Alaska, and southward to Borneo and Dutch his studying of cetaceans American Museum Al by East Indies in the His- for of Natural Booklist. By L. A, Fof the Farmer AMERICAN HONEY C. Pellett, “Many illustratlons and alphabeti- cal arrangement by common nam with cross references from scientific names * * * Included in the same alphabet are the states, each with discussion of its” honey sources, and articles of the physiology of nectar secretion, the weather and honey pro- duction, ete. The authority does knowledge of hotar list. PLANTS, by F. s a author who is an presuppose a * A. L. A. Book- CARE AN MANAGE RABBITS, by C. C, e OF FARMER H. A. HIS OWN Roberts. “A very practical book, 11- lustrated, diagrammed and privided with tables of estimates, for the farm- er who must be his own architect and often his own builder. It is es- pecially instructive in showing latest improvements in Al BUILDER by the farm struc- tures.” Jooklist. s L. / GARDEN DOCTOR: and disease by e PRODUCTIVE SOILS, Weir. plants in health J. Chittenden. by w.oow. e Fiction CHESTERMARKE s, INSTINCT, by J. Fletcher. .s GUARDED HEIGHTS, by Wadsworth Camp. “At his father’s death, George Mor- ton is oblidged to work on a horse farm. There he comes to love the daughter of the owner. His develop- ment through college and later is in- teresting.” ves PENNY PLAIN, by O E. Douglass. A family of orphan children * * * their maid, their dog, their neighbors * * * happy marriages for all con- cerned make an interesting story without preblems. Will be enjoyved by the many-people who like a simple, happy romance.” A. L. A. Booklist. “If ar Scottish story as good ‘Penny Plain’ -has been written these twenty Years past we must have missed it.” Aberdeen Fall Press. see PRINCESS SALOME, by Burris Jen- of the time of Christ's life “en RECREATIONS OF A PSYCHOLO- GIST, by G. Stan o HTER Member New York Stock “You choose good soil to raise good crops” — the principle is just as true in Banking — the selec- tion of a safe, conserva- tive, well managed Bank, insures means when you need it, a connection that proves valuable when you desire it and a satisfaction that makes you feel secure. STANLEY R. KDDY, Mgr. 50 Stanley Works 10 Commercial Trust Co. 10 New Britain Trust Co. TEL. 3040 F. G. JUDD jUDD & CO. 23 WEST MAIN ST., NEW BRITAIN, CONNE(TICUT Investments, Local Stocks WE OFFER:— Landers, Frary and Clark T ——— S JOHN P. KEOGH Member Consolidated Stock Exchange of New York. STOCKS BONDS # Direct Private Wire New York to Boston. G. F. GROFF, Mgr.—Room 509, N. B. Nat’l bank Bldg.—Tel 10! @Thomson, Tenn & o. NEW BRITAIN NATIONAL BANK BUILDIN 10 CENTRAL ROW, HARTFORD, CONN. DONALD R. HART, Mgr. TEL 2580—258 e —— e — Fall of Atlantis” is an account of the e s | BOX S0 ROXOS the zuthor.” A L. A. Booklist. Doug. Fairbanks il‘l “THE NUT” Starting This Sunday v SHIELD OF SILENCE, by H. R. Comstock. “Doris Fletcher faces the neces- sity of adopting her only sister's child, daughter of a man she loaths * * * She decides to adopt the child of a southern mountain girl and to bring the two children up together without ever knowing which was her blood relation.” v T, We Offer: HUMASON MFG. CO., Preferred HUMASON MFG. CO., Common " Price On Application. We Recommend Joint Stock LandBank || S , 5% Bonds The Hartford-Connecticut Trust Corapa s e e Corner Main and Pearl Streets, . Hartford, Co B Capital $1,250,000,° ~ Su-plus Funds, $2,000,000.0 Safe Deposit Boxes, $5 and upwards. Settlement of Estates, Wills drawn without chai Foreign Exchange to 2!l parts of the world. 'LETTERS OF CREDIT GENERAL BANKIN| Bank by mail. It is safe and saves time. Do alis D LESS THAN JONE ONES paid $56 for 14 Gallons! . “rgaa::lyforuse”MixedP 1 @ SMITH made 14 Gallons of the B Y) Pure Paint, for $39, by buy 8 Gals. L & M Semi-Paste Paint 6 Gals. Linseed Oil to mix into SMITH SAVED $11 L & M SEMI-PASTE PAINT Saves mo| m fi':‘%'fif-‘gfifim In ase over SO TRUSTY SERVAD C. V. McFadden. TAKES SECRET TO GRAVE. Jeff Davis’ Servant Does Not Disclose here Confederate Seal Is' Hidden. Washington, April 9.—The where- | B abouts of the official seal of the Con- federacy, an unsolved mystery for more than half a century, probably will ever remain unknown. James | Jones, aged negro employe in the sen- ate ofiice building, said to be the only person with a knowledge of where the seal was buried, died today without disclosing the secret. Jones was a servant of Jefferson Davis, president of the Confederacy, when Davis captured. As the story goes, Jones buried the seal be- fore the federal authorities could ob- tain possession of the Confederate leader's effects, and to his death never revealed the spot. “Instrumentalities of U. S. Government.” / We offer { a limited amount of these bonds maturing 1938 and 1939, subject to prior sale at 95 and interest, to yield ap- proximately [ 5.45% Ask for Circular. y 'slvu'ru PAI PAINT FACTS rUTS .\""IS. HARDING NEXT at Death, Applicant Takes President’'s Pace Answers Citizenship Chicago, April 9.—"“Who would take President Harding's place if he should die?” an applicant for naturalization Pieroni Amoto, was asked today by Judge Joseph Sabath of the Superior court. “His wife,” was the answer. Amoto received his final papers. FOR SALE BY: The John Boyle Co., New Britain, H. C. Thompson, Bristol Hardware Co., Bristol. Reason No. —Why We Advertise “National Bank Protection for your Savings” . Overdrafts : The Comptroller of the Currency has been waging a bitter war on the habit of .a\llo‘.vingl overdrafts. y g The fact that many banks have allowed their depositors to drift into this carqleg»s and danger- ous habit, a habit which is as detrimental to the best interests of the depositor as it is annoying to the bank, is ample justification for the Comptroller’s uncompromising attitude. in itself is not only an unwarranted abuse of credit, but is virtually the wrongful conversion of another’s property, as the money in the bank is the property of othex_‘ people« and should not be loaned to those who do not wish to give, in a formal way, an opportunity for the of- ficials of the bank to pass such judgment upon their paper as prudence and banking fidelity demand. There is quite a general feeling today that the banker who tolerates overdrafts indiscriminate- ly is a weak executive and an irresponsible trustee. In explanation, we wish to make it plain that it is a matter of principle with us and strict ad- herence as a rule of ‘conduct helps us to maintain a similar degree of diligence in.other matters of management which are of equal or greater importance to the protection of depositors. . In our next advertisement we shall consider “Loans” and some of the restrictions imposed to make them safe. g New Britain N gi:ional Bank ) The practice & CO. 31 WEST MAIN STREET, NEW BRITAIN. CONN. Telephones, 1815, 1318 SX2 IS (572 27 ‘W. T. SLOPER