New Britain Herald Newspaper, August 27, 1921, Page 11

Financial WALL STREET STOCK EXCHANGE REPORTS United States Rubbe: pfd. led the reaction record. Mexican Pet. Asphalt became heavy tobacco issues also Haven lost almost two list developed further dencies in the final closinz was heavy. Sal ed 250,000 shares. r common and at a new low and General and sugar and vielded. New points and the backward ten- dealings. The es approximat- (New foak Stock Exchange quota- . members ot the New York Stock Ex- change.) Am Bt Sug Can ... Loco Sug Rf cm.. Sum Tob... Tel & Tel...105% Tob 123 Woolen . T0% Ane €op oo.. .- Atc Top & S F. At GIf & W I. Bald Loco ...... Balti & Ohio. ... Beth Steel B. Cen Leath Co.. Ches & Ohio Chi Ml & S P.. Chi Rk 1 & P... Chile Cop Chino Cop Cn Prd Ref. Cru Steel Cub €n Sug..... Endicott-John Frie Frie 1st - Gaston, W & w Gen Elec Sen Motors Good (BF) Co.. Gt North ptd. Tilinois Cen Inspir Cop _Interbor Con pfd Tnt Mer Mar ... “1Int Mer Mar pfd 3 Allis-Chalm Mfg Int Nickel Jnt Paper .. Kelly Spring Tire Kennecott Cop. Lekigh Val Mex Petrol Midvale Steel Missouri Pac ... N Y Central NYNH&H.. North Pacific . Pure Oil Pan Am P T Penn R R .. Pierce Arrow Pressed Steel Car . ‘Ray Con Cop . Reading . Rep I S Royal D, N Y .. Sinclair Oil Refin .. Sloss-S Steel T . South, Pacific . South Railway Studebaker Co Texas Co. ... Texas Pacific Tobacco Prod Transcon Qil United Fruit . United Retail St U S Indus Alco . U S Rubber Co ... U S Steel Utah Copper = Va Car Chemical . Willys Overland .. LOCAL STOCR 24 Low Close 5% MARKET TODAY Furnished by Putnam & Co., Hfd Elec Light . Southern N E Tel Am Brass Am Hardware Billings & Spencer com PBristol Brass Colt's Arms . Eagle Lock Landers B Machin® ... iles-Be-Pond com North and Judd Peck, Stow and Russell Mfg Co Scovill Mfg Co Standard Screw Traut & Hine . Union Mfg. Co. Stanley Works e &1 Bid .125 106 160 Asked 130 109 130 27 15 31 48 47 15 52 45 40 110 310 220 35 45 42 24 12 45 DOUGHBOYS HOME? Signing of Treaty With Germany M: Mean Rdturn of U. S. Stationed On Rhine. Washington, Aug. 2 of the American forces on the is expected to be considered serious- the administration once ly by peace treaty between —Withdrawal Rhine the Soldiers the United WEEKS REVIEW AND Expert, Gives His Opinions New York, Aug. —Adjournment of congress for four weeks has set a legislation. Failure to enact the rail- road relief legislation and inability «« bring the tax bill to a definite stass of development are the outstanding points of regret among the community. It seems, however, I sonably tain that both matters will be attended to a no distant date afte: be attended to at no distant date after can doubtless be given to the details of pending measures during the T cess. If so, nothing will be lost by the postponement. While more or less of a formality, the fact that Germany has now finally signed a treaty of peace removes another uncertain factor from the situation and ought to have a favorable effect on senti- ment. Improvement of Railroad FEarnings That the railroads have at last definitely started upon a movement toward better thi has been evident for some weeks p rnings ports made public durmg the past few days again confirm ‘the views previ- ously entertained on that subject, and the same opinion is indicated by re- ports of traffic movements. Despite therefore, some setbacks which hav: been suffered by the railroad issues it consequence of the unexpected pos‘- ponement of the refunding bill, the real basis of confidence in the future of the securities remains unchanged, or, if anything, has been strengthened. A cloud on the horizon is seen in th apparently hostile disposition of th American Federation of Labor in re- spect to the readjustment of labor costs, particularly as affects the rail- roads. This is a situation which must evidently be worked out during th ceming months. Trade Readjustment. Price indexes indicate quite clearly that, so far as money values of com- mpdities are concerned, the general fadjustment movement is about over. What remains to be done is an equal- ization of prices among themselv some of them being evidently out of {line with the general average. This, however, is not likely to be long de- ferred. Meantime, further industrial lividend suspensions show that there are still postponed results of the de- pression which have not yet fully ex- hibited their influence and are still to be developed, while in the some group of factors are to be mentioned th poor statements made public during the past week by the copper com- panies. Most of these long ago sus- pended dividend, but overhead charges and fixed expenses continue, and the operating results of the past quarter show that they have been running still further behind with thus for no definite prospects of improvement. In the steel trade, slightly -better pros- pects may prevemt the industry from aching the same depth of depres on as the non-ferrous metals. It mains true that the most symptoms in the present situation are found in the manufacture of textiles, shoes and other immediately consum- able commodities. In these a satis- factory autumn trade is now confi- lently predicted. Helping the Farmer. Passage by congress of thé agricul- tural credits bill definitely brings to a practical stage the plans for further- ing the exportation of farm products by government financial :wsnanco Under the new measure, the finance corporation may make loans either to Americans or foreigners on the strength of collateral consisting of securities or products of known value, ich, however, must be within the United States. This greatly broadens the powers of the war finance corpora- business business with banks, really converts it into a kind of central banking insti- tution, with restricted powers or field of work. Belief that this and allied measures may materially assist the movement of American goods to for- eign countries has been influential in holding up foreign exchange quota- tions which might otherwise have gone to lower levels. How far the farmer himself will be actually aided by the new bill may be questioned, but if operations under it should be active, it may easily serve to strength- en the course of ‘foreign exchange. On the other hand. continued specula- tion in marks and other currencies has tended to render exchange quotations IMMEDIATE OUTLOOK| Henry Clews, New York Financial period to the immediate prospects of tion, and since it is permitted to doj NEW BRITAIN DAILY HERALD, SATURDAY, e — very unreliable and fe'\ens}_m The impression grows stronger in many quarters that Germahy at least musl oan take some dec ve measures with AUGUST 27, 1021. ——rre—— YOUNGEST METROPOLITAN SINGER a view to settling of, the status of her urrency- perhaps, a “evaluation of the mark. Credit Strain Relieved. Svents have shown that the severity of the credit strain in many parts of he country is less than had been ex- pected. Not only has the smallness of the cotton crop and the relatively smaller value of some other crops tended in this direction, but there has reen an unusually early movement of nroducts to market for cash. In con-| equence, the demands of borrowers ipon banks in the agricultural re- ions are less intense than had been xpected——a fact which is reflected n the diminishing volume of bills held by federal reserve banks, which I's now only $1,530,560,000, a declin® { °f nearly 50 per cent. from the level f a year ago. inkers report funds cturning from the interior already here is indication that they are being more freely supplied to borrowers on ollateral, Market Review and Outlook. Psychologically speaking, much of he news of the week, although indi- ating no fresh developments of broad zeneral significance, has been rather liscouraging, but, as demonstrated on nany occasions, when any fair amount »f buying orders put in an-appearance t is found that there is a paucity of »fferings. While so much uncertainty fs in certain industrial directions. buying by the general, public cannot be expected to assume large propor- ions and, no doubt, as accounts be- come weakened some further scat- tered liquidation may be counted up- on. Nevertheless, it can be assumed hat the great run of stocks has now redched levels which are making hem attractive to those on the inside who are in a position to know what the real book values are. A poteut factor in connection with the market is always the money situation, and, while there may be occasional flurries n rates, everything now points: to plentiful supplies for a leng time Mpyrtle Schaff, just 19, and the Scotti opera companies. in summer. is the youngest member of the Metropolitan She is shows her at a New York beach, where she spends much of her leisure time a mezzo soprano. This picture 1head, as the federal reserve banks are in an exceeding reng position. HENRY CLEWS. LOGAN COUNTY 1§ IN HOT WATER NOW Number of Men Turned Back— May Be Marmet-Mingo Bunch Communists Will Enter Metropolitan Politics New York, Aug. 27.—Communists New York plan to enter their political campaign this fall with a municipal ticket under the name of the Workers League of Greater New York. Candidates were selected at a con- vention attended by several hun- dred radicals last ight, and it was announced peltitions would be cir- culated to have their names placed on the ballot. Benjamin semblyman, anarchy was by his mother 2,000 Miners Are Still At Racine Racine, W. V., Aug. 27.—Some 2,000 of the miners who yesterday were turned back in their protest march from Marmet to- Mimgo by President Keeny of the United Mine Workers were still in Racine this morni Their leaders said they were waiting for special trains to take them down to the main line from which point they would go to their homes. All through the night men were drifting in alorg the road from Pey- tona where the main body was stopped yesterday by Keeny. Many others trooped over the hills seeking a short cut into the sur- rounding counties from which they had come. Pittsburgh, Pa., Aug. 27.—A large body of armed men secking to enter Logan county, was this morning turned back by a force of deputy cheriffs on the Boone-Logan county line, according to a statement given to the ‘Associated Press over the long distance telephone by an official con- nected with Governor Morgan's ex- ecutive office " at Charleston. It was added that there had been no casual- ties although many shots had been exchanged. Further than this the informant was unable to say. It has not been detesmined whether the body of men engaged by the Geputies was a ‘part{ of. the Marmet- Mingo marchers who yesterday were persuaded by C. F. Keeney, president of District 17, United Mine Workers of America, to abandon the march and return to their homes. A long distance telephone call to the office of Don Chafin, Logan county sheriff early today met with ne re- sponse. Similar calls to a private es- tablishment and a hotel. were un- productive, the party answering the telephone at the hotel remarking: “I have nothing to say; this is Logan county's business and no one clse’s.’ At 3 o'clock this morning the tel- ephone operator at Logan is said to have told the Charleston Gazette that firing then was in progress mnear Blair; that the deputies were on top of a mountain ridge overlooking the town, the armed men at the foot Firing, it was added had been spas- modic up to that time. When it started could not be ascertained. Gitlow, former as- recently convicted of nominated for mayor Escaped“ Murderess is Caught in Law Meshes Tacoma, Wash.,, Aug. 27.—Mrs. Helen Stubbs held in jail here, con- jfessed early today, according to the rolice, that she is Maud Moore want- ed in Knoxville, Tenn., where she escaped after conviction of the mur- der of Leroy Harth, automobile deal- er, September 9, 1919. “I admit T am Maud Moore,” Cap- tain of Detectives John Strickland said Mrs. Stubbs told him. “I will go black.” Lipman-Dubm?y Couple Married in Hartford Miss Anna Lipman, daughter of Mr. and Mrs. Samuel Lipman of 19 Oax street, and Samuel Dubowy, son of Mr. and Mrs. David Dubowy of Smal- ley street, were quietly married in Hartford on Wednesday afternoon by Rabbi Koppleman. The young couple left for an extended wedding trip to Atlantic City. ENGINEER MAKES REPORT. After an investigation of Alderman A. M. Paonessa’s claim that the Nlen street sewer with 19 inch pipe is inade- quate, Assistant City Engineer A. H. Sjovall has reported to the mayor that the sewer will take care of the section’s needs for unlimited time. U. S. VETS JOIN SPANISH ARMY ' cessible, fireproof, Jess Willard Will Referee Kansas City Bout Kansas Clity, Au —Jess Willard, former heavyweight champion, will referee the ten round bout at Fort Leavenworth, Kas., between Pat Walsh, Kansas City, middleweight, and Eddie \\axn(‘r of Fort Leaven- worth next Monday night, it was an- nounced today. INVEST = ELECTRIC LIGHT AND POWER, AND GAS AND ELECTRIC BONDS FOR THE FOLLOW:RG REA- SONS: 1. Stability of earnings in good or bad times. Easily marketable. Unequalled in record. Business ‘in its infancy. Inventory and labor neg- ligible factors. Higher yield than any other equally secured bonds. We shall be pleased to ' recommend ‘several such bonds, which yield from 1%t 814% Commercial TrustCo. Bond Department New Britain Conn. * B If you had a place—safe, easily ac- and to which you might come at any time for your valu- States and Germany has been formal- ly ratified. The view is understood to be held that there would then be no necessity of burdening Germany with the support of the forces, for which she is obligated to pay. There was no consideration of the subject in the negotiations leading up to the treaty so far as is known and whatever decision is reached will be solely that of the American gov- ernment. According to latest figures that are 14,000 American troops in the army of occupation at a main- tenance cost of nearly $1,000,000 a month. Florida Has Well That Gushes Forth Hot Water Sebring, Fla., Aug. 27.—Hot water which began flowing 18 days ago from a well being driven for a local concern still was coming to the sur- face today at a rate of 40 zallons a minute. Throughout the period the flow has maintained an even temp- erature of 130 degrees. It is said to be the second instance °f a hot flowing well observed in Tlorida, one having been drilled at Pensacola about 20 years ago. The low of the Pensacola well was lost vhen the drill broke through the ‘'ock and diverted the water into w ubterranean lake. American World War Veterans sail from New York, to fight the Moors, having enlisted in the Spanish Foreign Legion a 5 accepted the Spanish offer of a $100 bonus and 90 cents a day. Hungry and jobless, they able papers, your Liberty Bonds or family keepsakes — you would just feel so content — A cent a day at our Safe Deposit Vault will provide just such a place. Come in and let us show you. PUTNAM&Co. York Successor to Richter & Co. 31 WEST MAIN STRELT, NEW BRITAIN, CONN. STANLEY R. EDDY, Mgr. TEL. 2040 Member New Stock Exchange We Own and Offer: 100 shares Stanley Works Preferred To Net 1% H. L. JUPD F. G. JUDD W. T. 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