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

Financial WALL STREET STOCK EXCHANGE REPORTS Further price concessions were recorded in the early part of today’s stock market session. Selling agaln centered among shares of doubtful dividend status. Sentiment was more bearish because of weakness in for- eign exchange, especially the British rate. Exchange reactions of one to al- most 4 points were made by promin- ent oils, motors, steels, equipmenis and specialties. These wer> largly re- trieved with some substantial gains in the final hour when rails served to stabilize the list. The closing was Sales approximated 300,000 (New York Stock Exchange quota- tions furnished by Richter & Co., members of the New York Stock Ex- change). Close. 31 26% 26% 1231 17 80 373 653% 503 103 117% 68% 383 811s 2214 4% 393% 48 110 vt 55% 27% 321 10% 227% High. 31 == Low. 31 267% 26% 123 17 80 37% 63% 48% 103 117% 67% 38 - 81% 21% 3% 38% 48 110 34% 54 27% 31% 10% Allis-Chal Mfg.. Am Beet Sugar. Am Can Am Car & Fdy. 1"'4‘/5 Am Cotton Oil. 17 Am Lecomotive. 80 Am Smit & Ret 37% Am Sug Ref cm 65% Am Sumatra Tob 51 Am Tei & Tel..103 Am Tobacco ...1177% Am Woolen ... 69 Anaconda Cop . 38% Atcn Top & S F 81% At Gulf & Wt I 24 Baldwin Loco .. 75% Balt & Chio ... 39% Beth Steel B... 48% Can Pacific ....110% Cent! Lther Co. 343% Ches & Ohio ... 55% Chi Mil & St P 27% Chi Rk Isl & P 32% Chile Copper 10% Chira Cop .... 24 Corn Prods Ref 65% 65% Crucible Steel . 57% Y 551 Cuba Cane Sug. 8% 8 Endicott-John 58% 58% Frie 2 . 13% 137 Erte 15t pfd . 19% 19% Gen Electric ...128 128 Gen Motors -+ 11% 11% Gt North pfd ... 70 691 Tnterbor Con ... 3% 3% Tnt Mer Mar ... 11% 11% Tnt Mer Mar pfd 47% 47% Tnt Paper 53% 53% Kelly Spring Tire 371% 3714 Kennecott Cop.. 20 20 Lack Steel 39% 397% Maxwell Motor . 4 33 4 Mex Petrol 971 913 Missouri Pac 203 ;20% N Y Central . T0% T0% NY N H and H 1=;35 18% Norf and West .. 97 North Pac 31 Pure Jil 5 261, Pan Am P and T . 48 Penn R R 3434 Pierce Arrow 19 Pittg Coal . 56 Reaamg =~ - 65% Rep 1 and S 47% Royal D, N Y . . 54% Sin Oil Ref .. 20 South Pac 5% Scuth Rail - 20% Studebaker Co 9% 331 23 Tob Prod 52% Trans Oil ..... 8 7 3 Union Pac 120 United Fruit 1031, United Retail St . 53 U S Food Prod 17% U S Indus Alco 51% U'S Rubber 49 U § Steel % T4% U & Steel pfd . 109 i'tah Cop 50 Yae Oil ot LOCAL 109 50 33% S10CK MARKET TODAY (Furnished by Richter & Co.} Akl 130 109 163 130 30 18 33 53 50 18 50 47 40 115 330 230 44 35 45 17 Elec Light athern N E Tel A Brass .2 Hardware ilings & Spencer com isiol Brass it's Arms le Lock - enders F & C B Machine es-Be-Pond com , North and Judd Feck Stow and “'ll(‘ox Tiussell Mfg Co ..... Seovill Mfg Co ndard Screw com .. Stanley Works com . Thaut and Hine Ununion Mfg Co PERSONAL. s W. R. Clark is spending two weeks in Massachusetts, F. R. Gilpatric and family, of Purx Place, are spending two weeks at Pleasant View Beach, Westerly, R. I. Miss Mary Coltury, has gone to Weakapaug, R. 1., for the summer. Mrs. A. B. Porter is spending three weeks at Lords Point, Conn. ' Dr. H. T. Bray and family have gone to their cottage at Ocean Beach for the sur.mer, oDO 220 41 Ira Hicks, fon of former postmaster Ira E. Hicks, is spending the month of July at Camp Bonnie Dune, South Dennis, Ma: Miss Ruby Diskinson has gone to Burlington, Vermont, where she will take a teacher’s courSe in the local university. Hazen Henman is spending two Weeks in New Hampshire. Harry Ginsberg, Charles Cook, Ed- ward Stack and Harold Doln, left to- 4y for a short stay at Indian Neck. OFF FOR BELGRADE LAKES. Mr. and Mrs. Loren C. Baker, Miss Lemoine Baker and Loren E. Baker of elvidere, Mr. and Mrs_ Fred E'iiott Russell Elliott of South High street, Mrs, J. B. Andross and Miss Treue. Andross of East Harttford and WEEK'S REVIEW AND IMMEDIATE OUTLOOK Henry Clews, New York Financial Expert, Gives His Opinions (Special to The Herald.) (Special to The Herald.) New York, July 9,—Final settle- ment of the coal strike in Great Britain has laid the foundation for resumption of trade both in Eng- land and with other nations, but as vet the response there to the better conditions has been only moderate. Meantime our own attention has been strongly concentrated on:Mex- ican affairs with a view to adjust- ment of the oil situation, Wwhich, however, still offers many obstacles. Steel Prices and Wages: The reduction of prices and wages made first by the Bethlehem Steel Company and then by the United States Steel Corporation is in line with what had been expected and is being already met by the other in- dependent steel companies. Reports as to the volume of steel business furnish additional evidence of the lessening volume of orders which the steel makers have been receiv- ing, but in the end of course lower prices for 'the products of these companies cannot be other than beneficial to those concerns who use large quantities of steel for manu- facturing and construction purposes. Other price and wage cuts have been made in a number of basic lines and it is predicted by competent judges that the action of the steel com- panies will now at last be the basis for reductions in the cost of build- ing and of construction generally, with the result that a strong im- petus wil’' be given to many kinds of business. Railway Problems. The indisposition of railway em- ployes to accept the wage reductions fixed by the Railway Labor Board has not been of much significance thus far, discussion among the men and announcement of later ballot- ing being apparently only a way of accepting the change with as little “loss of face” as possiblg. Con- kinued improvement of railroad earnings as shown by the returns that are coming in s encouraging and tends to stimulate confidence for the future. The putting back io work of shopmen by such com- panies as Atchison and Delaware & Hudson is also hopeful, as it shows that the railroad companies now see daylight ahead. The decision to advance $500,000,000 to the rail- roads against their bonds to cover capital expenditures while under government control will have a far- reaching effect, not only with re- gard to the roads themselves, but to the equipment companies and others ho derive a large part of their earnings from purchases made by the roads. Market Review and Outlook. The week as a whole has been a decidedly encouraging one, with a smart recovery in prices for both railroad and industrial stocks, the only exceptions being the shares of NEW BRITAIN DAILY HERALD, SATURDAY, JULY 09, VACATION SCHOOL T0 BEGIN MONDAY Shoe and Rubber Repairing Will Be Taught This Summer The New Britain Daily Vacation Bible school will begin sessions next Monday at the Center church. Tha Rev. Fred Wilkin, pastor of the Ger- man Baptist church, will have charge of tha school. New features for this year will ba hat making and trimming for girly and shoe and rubber repairing for boys. The services of an efficient corps of leaders for each department has been secured. More helpers, how- ever are needed and it is hoped more names will be sent to Mr. Wilkins or to Oscar A. Marsh, chairman of the committee, at once. An open night will be held Tues- day evening at 7:30 at the Center church, with the scholars and their parents and all friends interested cor- dially welcome, The Rev. Samuel F. Sutcliffe, rector of the Episcopal church, Will give an address on “The Effec: of a Vacation Bible School in the Community,” and the Rev. Mr. Wilkin will speak on “Our School in New Britain.” The schedule of the work and lead- ers follows: ; 9:30, registration, singing and pray- er; 9:40, Bible drill; 9:50, story tell- ing; 10:00, manual training; 11:15, flag drill; 11:25, classes. For Boys—Hammock-making, Mrs. Warren, leader; rubber repairing and raffia, Mrs. Hewitt. For Girls—Domestic science, Misa Erwin; crocheting, hat making and knitt ng, Mrs. Porter. For Boys and Girls—Basketry, Mrs. Clary. Kindergarten—Mrs. W. L. Wil- liams. Church Notices First Baptist Church. 10:45, summer community service. The First and South Congregation- al churches will unite with the First Baptist for morning worship. Sermon by Dr. John H. Strong, of Baltimore. 12:15, Bible school; 3, the Russian 6, United Young People's meeting on Walnut Hill park; 7:45, Thursday, prayer and praise service. People’s Church of Christ. 10:15 a. m., prayer service in pas- tor's study; 10:45 a. m., morning worship;, (conducted by Major Hilton of Hartford); 12:15 p. m., Sunday school; 6 p. m., Young People’'s meeting; 7 p. m., evangelistic servic: This service will be in charge of F. Jennison. Thursday—7:45 p. m., prayer meeting. mid-week Second Advent Church. Preaching at 10:45, by Rev. Chas. Attwood. Sunday school at 12:15. No evening service. Business meeting on Wednesday evening, July 13, at 8 p. companies whose dividend prospects seem dubious. It was only matural as the week drew to a close that some holders of stocks should evince a desire to take profits. and this was more or less of a feature, but at no time were offerings excessive, show- ing that present owners of stocks believe that the future is sufficient- ly bright to warrant them in cling- ing to their holdings. As is gener- ally the case the pick-up’ in quota- tions has improved sentiment fully 10 per cent and this is always re- garded as a great moral victory. Besides, while trade is admittedly slow at present, those in a position to speak authoritatively do not hesitate to say that the oulook for increased activity next fall is now growing brighter.. The chief reason for this is the great progress being made in bringing about reductions in wages in the railroad and in in- dustrial fields, which was known to be a very difficult proposition. The probability of the Bonus bill being dropped, at least at this session of Congress is another favorable fea- ture, as the country is in no condi- tion at the present time to provide for increased taxation, which would be necessary if the bill were passed. This will now admit of the tariff and taxation measures being thor- oughly discussed, with a prospect of their being placed on the statute books before long, which is most de- sirable in order that business may be free from disturbing effects of changes that are proposed. The pasding of the Rubber dividend, while hard on the company’s share- holders, is another uncertainty re- moved from the market. Like previous dividend omission, it had been pretty well discounted before the announcement was made, and, outside of some scattered selling, there was no heavy unloading of stock. The fact that the general market bears up so well under such severe and trying tests is = further proof, if any were required, that the great bulk of stocks are now held by people who believe that more attention should be paid to future conditions rather than to those present or past. and this un- doubtedly is the correct view to take. HENRY CLEWS. e Car Sale tonight. 193 Arch St.—advt. Elks’ Gnill Tel. 1548. Open to the Public. 9A. M.to9 P. M. Service a la Carte Charles B. Kingsbury of Springfield, Mass., feft by .uto today to spend the \ont elg rade ? Catering Lunchcons Banquets Wedding Parties Go to M. Irving Jester $40,000 Used’ m. Prayer meeting on Thursday eve- niug at 8 o’clock. Reformation Lutheran Church. F. W. Schaefer, pastor. 7th Sunday after Trinity. 0 a. m., Sunday school; 10:45 a. m., morning services. Tuesday evening the church council will meet at the parsonage. Thursday evening the Luther league will meet at the parsonage. Christian Science Church. Sunday service at 10:45 a. m. Sub- ject, “Sacrament.” Sunday school at 9:45 a. m. Wednesday evening meet- ing at 8 o’clock. The Emmanuel Gospel Church. Sunday, 10:15 a. m,, praise service; 10:45 a. m., preaching, topic, “Following Jesus.”” 12:15 m., Sunday school; 6 p. m., Young People’s meeting and open air serv- ice; 7:30 p. m., evangelistic services. Sermon topic, “What Think Ye of Christ?” Tuesday, 7:30 p. m., Bible class; Thursday, 7:30 p. m., week prayer meeting. prayer and study mid- St. Mary’s Church. Seventh Sunday after Trinity. 7:30 a. m., Holy Communion; 11 a. m., morning prayer and sermon by the rector; 7:45 p. m., evening pray- er and Bible study to which all are cordially invited. Swedish Lutheran Church Swedish school at 9:30 @. m. Morn- ing service in English at 10:30 Morning service during July and August. The pastor will attend the mission meeting in Stamford mnext Tuesday and Wednesday. OY TO CHILE.—America's new ambassador to Chile is William Miller Collier, president of George Washington University and minister to Spatn under Presidents Roosevelt literally filled with flowers. President Harding to reappoint him. 1921, OFFICE FILLED WITH FLOWERS—When Edward M. Morgan be- came postmaster of New York for the second time He was Gotham’s postmaster under Roose- velt and Taft and made so many friends that many business men petitioned he found his office TRUGE IS AGREED ON IRELAND (Continued from First Page.) the purpose of negotiating peacs to be followed by a reversion to war, there was a prospect that calm counsels would have a chance. It expressed hope and belief that further fighting m Ireland would be impossible, add- ing: “It seems as though the last chap- ter of bloodshed and misery is at length closed.” ‘Warning was given by the Daily Herald, organ of labor, that a truce was not a‘peace, and that it would be folly to rejoice premturely. The newspaper admitted, however, that the Irish truce should be the prelude of peace and declared that ultimate responsibility rested wupon British statesmen. It asked if those states- men would show “the courageand generosity the situation demands.” The Morning Post, a conservative crgan, complained of the ‘“humilia- tion rebels have inflicted upon Eng- land,” and said the British govern- ment was “negotiating terms at the point of a loaded pistol.” Midleton Sces King. London, July 9.—Earl Midleton, south Irish unibnist leader, reached London this morning after having travelled nearly all night from Dublin and was immediately received by King George. It is understood he re- ported to the king details of yester- day’s momentous conference at Dub- lin at which a truce in Ireland was ar- ranged and steps were taken to bring together Bamonn De Valera and Premier Lloyd George. The whole counry this morning was seething with talk over peace in Ire- land. The earl expressed belief that the terms of Eamonn De Valera's letter to Premier Lloyd George accepting the suggestion of a conference would lie acceptable to the prime minister. He addec that he and his colleagues Y.ad achieved their object, and that further progress toward peade in Ire- land was a question to be discussed by Mr. Lloyd George and Mr. De Valera. {he crown forces may, therefore, be said to be already begun, although the time for commencing it officlally as been set for Monday noon. It is understood the armistice will be signed by Sir Nevil Macready and Michael Collins, commander of the Trish republican army. Belfast Displeased Belfast, July 9.—(By the Associated Press)—The new development in Irish politics was coldly received in Belfast. “Truckling to the murder gang” the Belfast News Letter captions its edi- torial on the truce saying there are complications in the Downing street announcement which are disquiting “to all loyal subjects of the king and repulsive to all nonorable men.” The first implication, says the News Letter, is that “an agreéement has been reached between the premier of the United Kingdonm and the president of the Irish republic whereby-the latter undertakes that the murder of police, soldiers and loyal citizens, the burning of residences of unionists in the south and west, the wrecking of trains, seizuré of the mails, the cutting of wires, the robbery of postoffices,, and the other outrages which the rebels are perpetrating shall cease Monday noon, but meantime they are free to commit as many as they can.” Agreement Dishonorable The news letter says it believes un- iversal opinion will consider such an agreement most dishonorable, and un- precedented in British history. The second implication declares tha newspaper is that active rebels are not murders but patriotic belligerents. The third implication is. considers equally serious as ‘“hitherto the government has mantained the posi- tion that the ambushing of soldiers and police and the shooting of un- armed men by persons dressed as civilians are murders, properly pun- ishable by death. The chief secretary has stated this again and again. Now that position is abandoned and the claim of the Sinn Feiners that they are honorable belligerents seems to be admitted. “But what follows from such an ad- mission? The government has shot or hanged a number of them and conse- quently has been guilty of murder and inexcusable violation of “international law,” The Northern Whig in its-comment on the new developments says: “Whatever the goverment may promise or protest we doubt if they will be able entirely to remove the Anxious For Peace. “Sentiment in Ireland,” he said, in referring to the public attitude here, “is overwhelmingly in favor of a set- tlement and there is fervent hope it will be possible to arrive at a solution that will be permanent.” Patrols Withdrawn. London, July 9.—Military patrols were withdrawn from the streets of Dublin last evening, says a Central News dispatch. Many of the police auxiliaries were walking the streets leisurely, fraternizing with civilians. The truce between the Sinn Fein and this institution is city and section. means that any e One of the invariable policies of sonal Service to the people of this angle of vision, personal service must mean vastly more than the mere safe keeping of your funds and a businesslike accounting of our stewardship. or corporation may avail them- selves of our facilities for giving helpful service and wise counsel in business matters. Use This Bank fear that their first decision in the valley of humiliation will not only fail to bring peace to Ireland but may ultmately be the means of many faithful Bri through the valley of the shadow of death. Until the outloolk is much clear- er than now*we dare not call this a truce of God.” The Irish News expresses confidence that the conference will be held. The time is opportune, it says, and “if peace with honor can be secured no man or body of men in Treland or Great Britain can throw the oppor- tunity aside without incurring a burden of responsibility too heavy to be borne.” to render Per- From our own With us it individual, firm, RICHTER & CO. Member New York Stock Exchange 31 WEST MAIN STREET, NEW BRITAIN, CONN. STANLEY R. EDDY, Mgr. TEL. 2040 100 Shares NEW BRITAIN GAS LIGHT CO. This company was incorporated in 1855 and has normal and healthy growth. The management has been conservative and dividends have been regularly paid to date, the present rate being 6% (Par 25.) We believe that the outlook for our local gas stocks is excellent, Price to Yeild bout 7% had a H. L. JUDD F. G. JUDD W. T. SLOPER JUDD & CO. 23 WEST MAIN ST., NEW BRITAIN, CONNECTICUT Investments, Local Stocks Telephones, 1815, 1816 WE WILL BUY SCOVILL MFG. CO. STOCK. r — @Thomson, 1fenn & To. NEW BRITAIN HARTFORD 10 Central Row DONALD E. HART Mgr. 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IMPORTANT NOTICE To Owners of UNITED STATES LIBERTY LOAN BONDS We have been advised by the United States Treasury Department that on March 31st, 1921, thousands of owners of Liberty Bonds had failed to cash coupons due at various times prior to that date, as a result of which interest amount- ing to $83,165,867.35 and belonging to owners of these securities is still in the hands of the Treas- ury Department instead of in the possession of those owning coupons which were due but not presented for payment up to that date. If you failed to exchange temporary bonds for permanent bonds, we would be glad to offer our services to make such exchange. Commercial Trust Co. Bond Department New Britain Connecticut