New Britain Herald Newspaper, April 15, 1922, Page 11

STRIKES NOT ALWAYS HARMFUL TO INDUSTRY, ROGER BABSON WRITES Wellesley Hills, 82, Mass, April ="Ara coal strikes, textile strik clothing strikes, responsible for th falling off business during the last few weeks 15, Babson Answers Answering this question and the general question of whether recent in- dustrial unrest will postpone pros perity by a full year, Roger W. Bab son, statistician, outlines the situation as follows: “Business men should not get faint hearted because of these strike Strikes are not always an econoniic loss. It the country were today us Ing coal as fast as it could he mined and the coal strike resulted in shut ting down factories, such a strike would be an economic loss, - Strikes, however, which ocenr during periods ol depression are usually not econo- mic losses, It is not an economic loss to have this coal strike continue un- til the great surplus stocks of coal are used up. It is not an economic loss to have the textile strike con tinue so long as the supply of manu- factured goods exceeds the demand, We are simply using our surplus stock and the unemployment is coming all at once in bunches instead of being distributed over a long period. Draws Comparison “A strike today in most Industries is a good deal like damming a stream of water., The water is not destroyed, but it is simply belng held back. The water could be dammed for a month or three months; but when the dam finally is openecd, the water will flow down stream and do its work. The situation in the basic industries to- day might he compared with that stream of water. The strikes are having the effect of damming up the flow of business; of retarding the flow of the stream, but they are not de- stroying the markets. Until these re- serve piles of coal, cotton and woolen goods, and men's clothing are used up, there is little economic loss. ‘Weather Conditions “A factor that has retarded busi- ness this spring is the condition of the weather. Reports from all sec- tiops of the country show that the weather the last few weeks has been very unusual. To a certain extent ir- regular weather conditions are also damming the stream. You may delay the purchase of that new summer suit, but you will get it just the same. The weather is a great factor in de- termining when women make their purchases but does not ultimately prevent sales. The weather this spring has been unsatisfactory from the textile point of view. Probably no one thing would aid so much to- day in settling the textile strike in New England as about two weeks of good warm weather. Effect Of Late E*flter “‘Another factor bearing upon this same situation is the lateness of Eas- ter this year. Easter comes the 16th of April, which is very late.. Faster or the week before Easter, is the opening of a number of lines of in- dustry and the lateness of Easter has delayed such business. Hence, the cotton industry is quiet, the sales of raw wool have fallen off. Lecather, household furnishings, jewelry and } number of those indugtries which ar closely connected with the person and the home are exceptionally quiet this spring and more so than around the first of January. Crop Situation “Yet, there is morg activity today in steel, iron, copper, and the metals| as a class than there has been for some months. The lumber market is| in a stronger position than it was a| year ago, especially the better grades of lumber, Hardware and other build- ing materials are in gregter demand. It appears that the rail/®ids are com- | ing in again into the market. The raijlroads are the greatest purchasers| S-K TIRE AND VULCANIZING CO. 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Business Groups “When one takes a cross section of husiness today, he divides all try into tWo main groups One group is engaged in mannfacturing clothes, houschold furnishings and the various things that we huy this month or next month just us we see fit The industries engaged in mak ing these things have heen quieting down the past few weeks, The other group consists of those industries con nected with the permanent develop- ment of citigs, rallroads and public utilities, there is more activity today in th industries which supply ma- terials to these constructive forces than there has been, A man may make more money in selling shirt- walsts to women than in selling bricks to men, but fundamentally the goun- try is much better off in having labor used to make bricks to erect buildings Of permanent value, indus “Crop reports are just beginning to come in 5o that we can judge some- thing regarding the 1922 crop situa tion. I'rom apparent figures so far the winter wheat yield for 1922 wil be about the same as 1921, The last estimate is for 578,000,000 bushels for 1022 as compared with 587,000,000 bushels for 1021, Kanss which looked very bad a few weeks ago, now looks much better. While the average for the state is only 65 per cent, some parts show an average of 90 per cent. “The exports of wheat and corn have been very satisfactory the past few waeks and the farmers have been greatly encouraged by the better prices of cereals; also by the loosen- ing up of money and the decline in the interest rates. The farmers are aiso delighted with the new tariff bill. The senate is likely to recommend a duty of 30 cents a bushel on wheat, 15 cents a bushel on rye, and 15 dents a bushel on corn and oats. Whether or not these duties, if put into effect will do the. farmer any good in the end is debatable, but at the present time, they are putting courage into him and the entire central west feels much better than it did around the first of the year. Outlook Is Good “Hence, as I review: the situation I feel at heart very much better re- garding the business outlook because | prown, Kuropean of the present willingness of men to put their money into bricks, new roads, the developing of water pow- ers, and the strengthening of the rail- roads, all of which lays the founda- tion for a future period of prosper- ity.” ; neral business meantime has slowed up a bit and is running at 14 per cent. below normal as compared with 12 per cent. a week ago. UNION GAINS STRENGTH. six Independent Mines Line Up With « Organized Forces. Pittsburgh, April 15.—Latest ad- ditions to union ranks as reported to headquarters of the United Mine Workers in the Indian Creek region of Fayette county were six independent mines employing about 1,200 mey which, were closed yesterday. From Westmoreland county, reports indi- cated that 15 miles had been closed in the past two days, bringing the to- tal of closed mines to 35 and striking miners to 15,000, Reports from Uniontown late last night showed that 134 striking min- ers of the Nenacolin plant of the Youngstown Sheet and Tube Co. in Greene county had returned to work yesterday. Scientists state that Ohio was in- habited 10,000 years ago. 6,000 $ 8.50 13.95 8,000 19.90 25.80 greatest lubricant— Next to Post Office NEW BRITAIN DAILY HEHAI;D, SATURDAY, AFRIL 15, 1922, HAY NOTPASS ANY TARIFF THIS TERM | Washington Doubts That Measure Will Be Settled Washington, April 15.—The forth- coming tariff bill fight in the senate promiscs to resolve itself into an en- durance contest, with many thousands of rates and hundreds of amendments |to be considered, those in charge of the measure estimate that at best it will take: close to two months of steady work to put the bill through, Republican leaders are preparing for the struggle. A call went out to- | duy to majority senators for a party | conference next Tuesday. Senator | Curtis, of Ki , the republican whip, #aid the principal purpose was | to impress upon the senators the ne- | cessity for their presence on the sen- | ate floor throughout the considera- tion of the measure, Not Be Passed. Whether the tariff bill can be en® | acted at this sesslon fs° regarded by many at the capitol as doubtfui, Were this any but election year they would | anticipate little difficulty in Rolding | congress in Washington to enact it, | but many members, and more par- | ticularly those of the house, desire to | be back home during the campaign. | There is some talk now about a re- cess of 60 days after the senate acts on the bill. The work on the mea: ure in conference will require near! if not all of two months, and those favoring the idea of a recess argue | that no time would be lost through- out that procedure as the conferences could be in action while congress was BACK OF EUROPE’S Such is Easter Message of Brown, Di- rector of American Relief Admin- istration Activities. | London, April 15.—(By Associated | Press.)—"America has broken the back of the biggest famine in the world's histor; was the Easter mes- sage sent today by Walter Lyman director of the American relief administration, as a result of dispatches just received in London from the famine districts of Rus: our troubles,” said Mr. Brown, ‘“but we have successfully initiated a pro- gram for feeding four times as many people as the American army had in France at the zenith.” While the feeding of 5,000,000 Rus- sian adult famine sufferers is being initiated, the number of children be- ing fed has reached 2,000,000, Mr. Brown’s figures show, and is con- stantly increasing. The child feed- ing goal aimed at is 3,000,000 exclusive of the Ukraine, where a new pro- | gram {s contemplated. i There is no parallel in history for | the task America has undertaken in | the valley of the Volga, according to | Mr. Brown. RANKS ARE UNBROKEN | Third Week of Hard Coal Mine Sus- | pension Opens With Miners Still In- sistent on Terms. Hazelton, Pa., April —The third week of the anthracite coal mine sus- pension started today with unbroken ranks among the men and no efforts on the part of any company to re- sume operations. The d ct presidents and other members of the scale committee ne- gotiating with representatives of the operators in New York are home for the week-end and meetings were scheduled today to hear reports on the situation. Streams of northcastern Penn: vania were lined today with idle coal miners as the trout season opened. Most of the streams have been stocked through the efforts of the united sportsmen’s association with which the mine workers are prom- inently {dentified. WANTS TO SELL BONDS, ‘Washington, April —The CPn“ tral Vermont railroad applied today | to the interstate commerce commis- | sion for permission to issue and sell | 728,000 in equipment trust securi- with which it will purchase roll- ing stock. Coast-To-Coast “We have not reached the end of | MOKEY IN GRAIN §12.60 buys guarantee option on 10,000 bushels of wheat or corn, No Further Risk, A movement of be from option price glvea you anopportunity to take $600; dc, §400; S, $300,ote, Write for particulars and Free market leiter, INVESTORS DAILY GUIDE, Southwest Branch Besk NU,1004 Baltimors Ave, KANSAS CITY, MO, Financial News Low 4y 484 162 116 58 % Close 1% 49 162 1161 High Bt Bugar .. 42 A0 164 Am Am Am Can Car & Fay Loco 1163 8 & Ref LERA Sug Ref com 74 Sumatra Tob 847§ Am Tel & Tel 1208 Am Tob ,.,... 1417 Am Wool . 93 Anaconda Cop . 3% Ateh Top & 8 F 100 At Gulf & W T . 34 ald Loco 117% lalti & Ohto 17 Beth Steel B 80 Canada Pacific 1415 Cen Leath Co ., 4014 Ches & Ohio ... 641y Chi Mil & St P, 251 C'hi Roek 1s & P Chile Cop .. Chino Cop Con Gas Corn Prod Ref Crucible Steel Cuba Cane Su Endicott John Iirie 1st pfd Gen Electric Gen Motors ... 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Standard Screw Traut & Hine U'nion Mfg Co Stanley Works 1008 1083 . BhY 1614 861y 131 164 1% Elmer Dover, assistant secretary of the treasury, is a center of a political storm that may result in the resigna- tion of high government officials. Politicians say President Harding sup- ports him in opposition to Secretary Mellon and Internal Revenue Collec- tor Blair, OWLS M SAT. EVENING, APRIL 15TH. AT 7:30 P, M, J 8 J 8 Savings Bank of New Britain 178 Main Street A MUTUAL SAVINGS BANK Organized 1862 Offers its services to all. Urges everyone to save Paying 41,9, Interest| Open 9 A. M. to4 P. N Saturday 9 to 12|} Monday Evenings 7:30 to 9 'AJOR STRING ORCHESTRA ‘\ The Hartford-Connecticut Trust Company Corner Main and Pearl Streets, Hartford, Conn. Capital $2,000,000.00. Surplus Funds $2,000,000.00 Safe Deposit Boxes, $5.00 and upwards. Settlement of Estates. Foreign Exchange to all parts of the world. 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NEW BRITAIN HARTFORD New Britain National Bank Bldg. 10 Central Row Telephone 2580 Telephone Charter 000 DONALD R. HART. Munager Mcmiber Hartford Stock Member N. Y. Stock Exchange Exchange. ;Ne Offer Stanley Works Common Price on Application We Do Not Accept Margin Accounts JOHN P. KEOGH Member Consolidated Stock Exchange of New York STOCKS Bridgeport Danbury ; New Haven Middletown BONDS Springfield Direct Private Wire to New York and Boston F. GROF'F, Mgr.—Room 509, N. B. Natl Bank Bldg.—Tel. 1013 Waterbury G. GET A BENEFICIAL LOAN WE LEND MONEY on note, or home furniture, without remov- al, to honest persons having steady jobs; also lend to property own- ers: no pawns; LOANS UP TO $300. repayable in 8 to 15 monthly installments, or as d . LE L CHARGES ONLY, based on un- paid balances for actual time due. 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