New Britain Herald Newspaper, July 16, 1921, Page 11

Financial WALL STREET STOCK EXCHANGE REPORTS Wall Street.—Dealings on the stock ex- change today were at the lowest volume o fthe year, sion. even for a week-end ses- The tone was irregular through- out, oils, equipments and steels showing further heaviness. Reactions in those issues ranged from one to two points, Atlantic Gulf, common and pfd., Stand- ard Oil of New Jersey and some rail- way coalers showing occasional pres- sure. Short covering relieved the ten- sion in part later, The closing was steady. Sales approximated 150,000 shares. (New York Stock Exchange quota- tions furnished by Putnam & Co., members of the New York Stock Ex- change.) Low. 31% 26% 123 80 66 7% 455 108 120% 87 36% 82 21% ‘72 37% 45% 35% 30% 10 65% High. Allis-Chal Mfg.. 31% Am Can .... 28 Am Car & Fdy.123 Am Locomotive. 80 Am Sug Ref cm 67 Am Sumatra Tob 46% Am Tel & Tel..103% Am Tobacco ...120% Am Woolen . 81% Anaconda Cop . 37% Atch Top & S F 823 At Gulz & Wi 1 227 Baldwin Loce Bai: & Ohio ... Beth Steel B ... Centl Lther Co. 35% Chi Rk Isl & I 31 Chile -Copper ... 10% Corn Prods Ref 65% 65% Crucible Steel . 53 52 53 Cuba Cane Sug. 8% 814 Endicott-Johns'n S‘l 60 Eria . . 12% Genl E! ectric . 1"“% 119% - 120% Genl Motors .. 10% 10% 10% Gt Northern pfd 68 68 68 Int Nickel ... % 13% 13* Int Paper 5085 5054 Kel Spgfild Tire 36% - 35% 35% Lack Steel .. 3T% 37 Lehigh Valley .. 50% 503 Mey Petrol ....1043% 163 Midvale Steel .. 23% 23% Missouri Pac. . 19 19 N-Y Central ... 68% ; 68 NY, NH & H ... 17% 17% Norfolk & Wes: 833% 93 Nor Pacific - ... 1% Pura Oil 253 Pan Am P & T 48% Penn R R 34 Pierce-Arrow 18 Pitts Coal ... 52 Ray Con Cop 121 Reading ... 66% Rep I & S . 4% Royal D, N Y . 54y Sinclair Oil Ref 20 So Pacific . 75 g: Pacific ... 19 19% “Studebaker ~Co. 78% 79 4 Texas Co. 33% 333 'obacco Prods . L ¥t ranseont OH .. T% 7% 7% Tnion Pac 117% 117% U § Indus Alco. 49% 49% 49% ‘U 9 Rubber Co. 493 43% 49% .U 8 Steel ..... 2% ' 1% 12% TU g Steel pfd.109% 109% 109% {Utah Copper .. 47% 47% =~ 47% -Willys Overland 67% Close. 31% 25% 123 80 667% 465 10314 120% 67 % 36% 821 22 3% 37% 455 35% 303 10 50‘& 104 23% 19 68145 171 933 S T1% 255 49 34 18 52 12% 67% 45 65 20 5% 6% 8% City Advertisement The City of New Britain will re- s o8ive bids on one or all of six Iots oh %hxcm street. Bids must be in at ;n o’clock, noon, of July 20, at the office of Mayor O. ¥. Curtis. Map~ of the lots may be seen at the office of the mayor or the board of public works at City Hall. The lots have water and Bewer connéction and side- walks. LEAGUE IS IN N0 WAY EMBARRASSED Harding’s Disarmament Meeting Has No Eiiect July 16 (By Associated Press).—The temporary mixed com- mission for the reduction of arma- ments appointed by the leagua of na- tions, declared today conferenca on this question to be called by President Harding would not conflict in any way with the league's disarmament move. Instead of adjourning its ses- sion immediatély after convening aa had been suggested, the commission therefore will continue its sessions, ex- pecting its work to be useful in a preparatory way for the Washington deliberations. Rens Viviani, France's representa- tive ané ahairman of the committee in cpening the meeting declared that the Washington conference, instead of conflicting with the commission’s study of disarmament, fitted in with such study. M. Viviani devoted con- siderable time to discussing President Harding's plan. He argued that the league’'s disarmament work could only aid . in accomplishing the objects sought by the Washington meeting. The chairman’s attitude - was . ap- proved by H. A. L, Fisher, Great Brit- ain’s representative who said that the league’'s commission should continue its labors. The other .delegates. in- cluding Mr. Rivas Vicuna of Chile, and Senatcr Carlo Schanzer of Italy, concurred in their opinions. The view expressed. by delegates. in their remarks was that = while the United States was declining contact with the league of nations the forth- coming conference . in Washington would find. itself obliged to consider such conclusions as the league’s com- mission might prepare. It was also suggested that some of the delegates to the Washington conference would direct the attention of that conference to the resuits of the league's disarma- ment commission’s investigation. During the discussions which en- sued of the treaty signed at St. Ger- main for the suppression of the traf- fic in arms some of the delegates pointed out that the United States was virtually ‘the only country which was not » party to that:treaty, and the feeling was expressed that the Amer- ican governmen could rot help taking cognizance of that fact when consid- Paris, NEW BRITAIN LAILY HeoaaoD, 5AIURDAY, JULY 13, WEEK'S REVIEW AND IMMEDIATE OUTLOOK Henry Glews, New York Financial Expert, Gives His Opinions (Special to The Herald.) New York, July 16.—President Harding’s, invitation to the principal allied a associated powers (o join in a coffference for the discussion of armament questions, and if possible to evolve some settlement of Pacific problems has been received as the most positive *evidence of national leadership for a long time past. Ac- ceptance by some of the chief Lur- opean nations ensures a thorough consideration of .the whole interna- tional situation. Meantime, con- clusion of werking relations between the United States and . Germany. should go a long way toward the im- provement ofthe trade situation. Steps Toward Tax Reduction. In another way the week has been notable for national intervention in important business affairs. President Harding’s attempt to bring once more to the front the question of tax re- vision so long neglected by congress, and the support he has received in many influential business quarters, shows that this subject will not, after all, be indefinitely laid aside. Taken in conjunction with his bonus bill recommendations, noted last week, his action shows the president fully alive to the needs of the business world, and prepared -to assist in pro- moting legislative progress when necessary. The market has received the statements of the president ac- cordingly at a very hopeful augury. Effect on the general tone has been correspondingly good and action by congress in line with the president’s tax recommrendations, which is now promised within two weeks in the house, should prove éven more stimulating to those who had lostj confidence in the prospects of zen- une relief from present tax evils. Business is Hopeful. The better legislative prospects coincide with a hopeful attitude on the part of business. From many quarters there are statements of bet- ter conditions. K Our forelgn trade figures for June, just made public, show an upturn in exports for |the first time in-about eight months, the Jncrease over May amounting to some $10,000,000. _British buying.of staples in this country is .increasing, partly for seasonal reasons, but part- lyalso because of the fact that re- covery from the effects of the coal ering the disarmament quesfion. To Rent 1—6 room tenement, Main and Elm Streets. '1—6 room tenement, No. 45 * Main Street: ~ z 1—5 room tenement, corner Elm and North Streets. 1—8 room tenement (Rear) 443 corner 1—4 room tenement, 441 West Main Street. West Main Street. I 1—Store, Main Street. P.J. Murray & Co. Real Estate and Insurance. 325 Main Street. Tel. 258-3 Jtrades dependent thereon will strike has now set in. There is a well sustained demand for textiles, feather, shoes and other articles of consumption. Price readjustment in steel and iron has apparently had but little effect thus far, it is true, but time is required for the effects of changes in the basic trades to make themselves felt, and there is general helief that revival of steel and irgn making and of .the building de- velop in the autumn. Meantime, the prospects of agriculture continue to be pretty generally satisfactory, with a trend of prices on the whole up- ward. , Financial adjustments that are being made now bid fair to give all the aid to the carrying and move- ment of crops that is essential. There is still a sore spot in the sugar industry, which is having a serious effect upon sugar stocks listed in this Belative inactivity in the market during- the past .week was the natural reaction from the perhaps unduly Harge- volume of business iconsequent upon . rumors. of legislative and financial action of various kinds dur- ing .the previous week or two. At all events the stock market unusually quiet. has been President Harding’s request that the wunwarranted pe- troleum. dutles .be abandoned has helped restore a more normal condi- tion in the Mexican oils. Sugar con- Here's Charles G. Dawes on the job at Washington as diretor of the budget. His job is to put down the waste and save taxpayers some money. The long cigar is ever present. from the general public. In ordinary times July is considered ome of the mogt important investment months, but it has been a disappointment (his year. This, no doubt, is largely due in the first place to lack of funds and in the second to uncertain market conditions, which always have the effect of making would-be investors sit on the fence. It has been demon- strated on numerous occasions when the bear account became too extend- ed that a drive against the shorts succeeded in bringing about rallies, and this is something that can be counted upon from time to time. More than this, however, can hardly be looked for until business condi- tions wundergo a change for the better. HENRY CLEWS. 1921, LOCAL STOCK MARKET TODAY Furnished by Putnam' & Co,, Successor to Richter & Co. Bid Ashed 130 109 160 130 30 18 33 52 50 i 52 48 38 115 315 230 44 35 45 Hfd Elec Ligl So. N Tel ... Am PBrass Am Hardware Billings & Spencer Bristol Brass . Colt's Arms Eagle Lock .. Landers F and C N B Machine com . Niles-Be-Pond com North and Judd Peck Stok and Wi Russell Mfg Co . Scoville Mfg Co . Standard Screw com Stanley Works com . Traut and Hine . Union Mfg Co . PERSONAL. Dr. Clifford Vivian is spending the week-end at Pine Orchard. George K. Béldon, baggagemaster at the New Haven station. will spend Sunday at his boyhood home in Burlington. Michael J. Edwards. ot Cleveland, 0., who has been here attending the tuneral of hia mother, will return home TOMOrrow. Thomas R. Morfon of Stanley street will spend the week-end at Worcester, Mass. " 'ST. MARK'S CHURCH Eighth Sunday after Trinity: a. m. Holy Communion. communion of Daughters of the King: 10:00 a. m. Morning prayer and 7:30 sermon by the rector. 7:45 p. m. Eve- ning service and bible e en— For Good Work and sonable Price Stop al HULTQUIST ROTHERS For General Repairing. Radiators Repaired and New Cores “In- wtalled. Dents and Jams. Removed from ‘Auto Bodies and Fenders. Lamps, Tanks, Hoods and Muffiers Repaired. Wé have a special price on Ford Radiators. 10~ Arch St. Tel. 1326-8. New Britain. Ct. Poland — Italy — Greece — Spain — in fact to whichever European country you may be going, we are in a position to give you special rates on Foreign Drafts. After residing in this country for a number of years and having saved regularly you do not want to risk losing or haying stolen all you have ac- Wated:—-l)o net carry cash— - Buy Our Foreign Drafts. Open Saturday Evenings Corporate || PUTNAM&Co Successor to Richter & Co. Member New York Stock Exchange 31 WEST MAIN STREET, NEW BRITAIN, CONN. STANLEY R. EDDY, B3fgr. TEL. 2040 50 Landers Frary & Clark 50 North & Judd 50 Colts H. L. JUDD F. G. JUDD W. T. SLOPER JUDD & CO. 23 WEST MAIN ST., NEW BRITAIN, CONNECTICUT Investments, Local Stocks Telephones, 1815, 1818 WE WILL BUY SCOVILL MFG. CO. STOCK. AMERICAN HARDWARE STOCK. - @Thomson, Tfenn & @n NEW BRITAIN New Britain National Bank Big, Telephone 2383 uc-n‘ll-v DONALD R. HART Mgr. 'We Offer: STANLEY WORKS Common and Preferrd. Price on application. JOHN P. KEOGH Member Consolidated Stock Exchange of New York. Waterbury STOCKS Miaders BONDS Middletown Direct Private Wire to New York and Boston. G. F. GROFF, Mgr.—~Room 509, N. B. Nat’l Bank Bldg. — Tel. 1013 Bridgeport New Haven The Hartford-Connecticut Trust Company Corner Main and Pear] Streets, Hartford Conn. Capital $1,250,000. Surplus Funds $2,000,000.00 Safe Deposit Boxes, $5 and upwards. Settlement of Estatas, \W:l]s drawn without charge Foreign Exchange to all 'parts of the world. LETTERS OF CREDIT — GENERAL BANKING Bank by mail. It is safe and saves time. RGANIZED, UNDER UNITED STATES GOVERNMENT SUPERVISION VACATION CLUB, has helped hundreds to save vacation money. ; F START NOW FOR NEXT YEAR Pay 50c, $1.00 or $2.00 per week for fifty weeks. tinues feverish for reasons already evident. Outside of unfavorable trade conditions now. existing senti- ment among the trading element is arrayed against the market, I the based on very slack derhand for TthT CI] LW ERITATN 5y stocks TODAY OFFER A MOST FAR- SIGHTED AND SENSIBLE WAY— —TO SAVE —TO INVEST —TO EMPLOY SURPLUS MONEY A Mutual Savings Bank Organized 1862 o ATTMENT—JULY 1, 1921 T > i All who have accounts in this Bank 2 : §| are always fortunate, and especially . during the past six months have they found this to be so. This Bank has been very helpful in supplying funds to its depositors during these times of depression. Are you a depositor here? If not, you should be. Even in these times of reduced earnings, you should save something. 5—4 room tenements, 50-52|market but conditions are apparently Whiting Street. in a fair way toward rectification. e Market Review and Outlook. 1—Garage, rear 441-3 West Main Street There is no safer way of employing money at this time than to purchase a sound Bond. Assets Leéans on Keal Estate ....... $ 6,876,490.00 Loans on Stocks and Bonds .. 1,215,972.00 Loans to Cities and Towns .. 30,000.00 United States Bonds 1,476,479.84 Foreign Governments Bonds 631,182.67 City and Town Bonds . 1,387,800.00 Railroad Bonds . 1,437,730.00 Bank Stocks ... Lo 246,802.00 Real Estate — Banking House 100,000.00 Deposits in Banks and Trust Companies and Cash ... .. 192,125.61 1,099.10 $13,595,681.22 Liabilities Deposits .................. $12,928,307.75 Interest Account . 55,000.00 Surplus Fund . ............. 600,000.00 Profit and Loss Account . . . .. 12,373.47 Bonds unquestxonably offer a more attractive in- come return for the present—a. greater chancé for enhancement of principal for the future than is offered by any other equally safe way of employ- ing money. TAKE ADVANTAGE OF TODAY'S UNUSUAL BOND OPPORTUNITIES You can secure now sound Investme'nt Bonds, re- turning high interest yields (7% to 8%), matur- ing in one year to most any number of years de-.: sired.. .Such Bonds possess a ready market at'all times, and may Jbe had.in' denominations of $100, $500 and $1,000 All deposits are receiving inter- est at the rate of 41/2%0 Interest begins the first of each month, payable January and July. Surplus Fund, $600,000 Commercial Trust Co. Bond Department $13,595,681.22 Tl uets §13,595.681.22 NeW Rritain -