New Britain Herald Newspaper, July 1, 1922, Page 9

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BABSON ADVISES THAT MERCHANTS STUDY SELF - HELP STORE SYSTEMS Waelleslay Hills, July 1.~In an in. terview today Roger W. Babson ap. pealed to merchants to astudy the “self help"” stores. He believes that th8 small merchant has great oppor- toulty if He will only adopt modern metaods and advertise more. He in- that the public does not demand the chain stores but rather demands economical ard convenient service. People buy from the chain storés be. cause that is the ohly place in their community that they can get such service, he continued, “Chaln stores are having a tremen. dous run today. They are springing up like weeds in every community. Local merchants are beginning to be- come panic stricken. They fear that the chain store is to swallow up everything. Grocers, druggist, and clothing dealers are especially trou- bled, Considering the tremendops number of small merchants this is a problem in which every one should be interested. There are for instance over 800,000 independent grocers in this country. To have their business wipéd out out would result in a tre. mendous economic appeal. All to- gother there are over 1,000,000 small merchants in America who are vitally interested in this problém, as they will be wiped out if the chain store proves to be the legitimate method ot merchandising. “Pérsonally I feel that this change is due to the fact that the chain store comes nearér to giving the publie what it whnts and prospers for that reason. If the local merchants will adopt the same up-to-date methods of economical merchandising he need have nothing to fear from chain store competition. These newer and espec- fally thése self help establishments are doing a splendid business hecause their plan is practical and because they are being operated by young men with initiative and enthugiasm. The raflroads did a fine business when they wers 80 operated, 20 or 30 years ago. Chaln stores, however, will have their tr8ubles just as the railroads have had theirs. Clerks, truck driv- €rs, and buyers will some day.be or- ganized and as saucy and independent as the typical plumber is today. Then the chain store sales will drop off and opérating expenses will increase and théy will have to adopt a more mod- ért form of merchandising or give way to a new order. The ‘“self-help” Gystem eliminates labor difficulty to a considerable extent and presents a most interesting study both as to serv- ice and to cost. “I appeal particularly to merchants of the older school and urge them to study very carefully thess “selt help" storés, with their “self Melp” service. It is true that the average merchant cannot get the advantage of collective buylng unless he himselt joins a chain. Any merchant, however, can install a ‘“‘self help” system of selling indepéndently. Of course, this means more than reorganizing the fixtures of his store. He must change his entire attitude. The ‘“‘seif help” stores for instance are very dependent upon ad- vertising, much more 80 than are the chain stores and l6cal merchants. The latter must advertise more than ever if he is to adopt the ‘‘self help” gys- tem. I am not a merchant, merely a etatisticlan. Gtatistics, however, clear- ly indicate that if the local merchant continues as at present he will How’s be | eliminated trom American industry to make way for more modern machin. ery of distribution. “In regard to chain store securities. Most of these mérchandising compan- fes should do well for the next few years. Mall order concerns will also prosper, but I predict that even stores like the A. & P. will some day change over to a ‘self help” system. They will be forced to in order to survive, When the change is made their secu- rities wi)l become ‘‘self help" securi- ties. It is not my purpose,” conclud- ed Mr. Babson, “to recommend them as securities but rather’ to try to awake the local merchants before it Is too late, and to get them to adopt the methods of more economical dis- tribution which are winning out to. day." General business according to the index figure stands at 17 per cent, be- low normal. This is encouraging in- deed when you realize that it is hold- ing up in face ot the threatened rafl strike on top of the usual summer dullness. WALL STREET STOCK EXCHANGE REPORTS 10:30 a. m.—Trading was dull at the opening of today's markét. Rails wére scarcely affected by the strike of rallway men. Fractional gains marked the first offerings of N. Y. Central, Pennsylvania, Baltimore and Ohio and several of the less promin- ent transportations. Studebaker was heaviest of the favorites, falling one point. A few specialties under pool control were firm to strong. Coca Cola rose 1 1-2 points and North Am- erican, Cast Iron Pipe were higher by frac- tions to a point. A new low quote- tion for the German mark at .02434 |featured the foreign exchange market. Today's session of the stock mar- ket was the dullest and least interest- ing of any so far this year. The slim attendance of members was reflected in the meagre turnover. Rails were relatively steady dspite the strike and the firm to strong téne was maintain- ¢4 throughout the list, especially among oils and coppers. The ¢losing was firm. 8ales approximated 225,. 000 shares. Quotations furnished & Company. by Putnam High Close 48y 26% 112 59% 393 120Y 140% 51% 100 38 1135 49% 783% 138% 86% Low 46% 26% 112 58% 39y 120 140% 50% 997% Am Cotton Oil . Am Loco Am § and Ref . Am Sum Tob .. 89% Am Tel & Tel . 120Y Am Tob ...... 140% Ana Cop 51% Atch T& SF . 100 At Gulf & W1I . 38 Bald Loco’ .... 114 Baltimore & O . 49% Beth Steel B .. 763 Canade Pacffic . 138% Ches & Ohio ... 66% Chi Mil & St P . 26% Chi R Isl & P . 43% Chile Copper .. 21% Con Gas 115% Corn Prod Ref 104 26% 112 593 38 113% 493 76 138% €63 268 43% 20% 1147% 104 This— All Deposits made in this Bank up to and including July 5th (Wednesday) will draw interest as of the 1st. Now is the time to start that Savings Ac- Tobaeco Products and U. 8. | Cruaible Bteel ,. Cuba Q Su ., 74 18% Erie 1st pta ..., Gen Motors ..., 14% Goodrich (BF) ., 89% Gt North ptd .. 77% Inspir Cop .... 39% Inter Con o 1% Inter Con ptd ... 8% In Mer Mar ptd , 72 Pacific Ol ..., 85% Int Nickel ...,. 16% Kelly 8pring Tire 477% Ken Copper ... 33% Lehigh Valley , 64 Mex Petroleum .. 175% Midvale Pet .... 33% Missourl Pacific 21% N Y Central .. 94% NYNHG&H. 29% North Pacific ., 74% Pure Ol . 81 Pan Am P& T . 78% Penn R R 2% Pierce Arrow ... 19% Pitts Coal ...... 64% Ray Con Cop 16% Reading .. T4% Rep I & 8§ .... 0% Royal D, N. Y. , 8% Siclair Ol Ret . 32% South Pacific .. 89% South Rail ....,. 23% Studebaker Co . 128% Texas Co ..... Texas & Pa Tobacco Pro Trans Ofl Union Pacific .. United Fruit . United Re 8t .., U 8 Rubber Co . U 8 Steel .. Utah Copper ... Willys Overland . 8% Hf4 Elec. Light ... Southern N E Tel Am Hardware .. Billings & Spec ¢ Bristol Brass ... Colt's Arms .. |Eagle Lock ....... Landers, F ... N B Machine Niles-Be-Pond . North and Judd . Peck Stow & Wil Russel Mtg Co .. Scoville Mfg Co . ' Standard Screw . Traut & Hine . Union Mtg Co . Stanley Works . LOANS UP 10 $300 85% 63 99 63 8% (Putnam & Co.) Bid . 163 124 175 . 25% 7 v 39 58 . 56 4 438 52 . 30 . 85 350 268 . 20 . 45 . 45 BANK-LIKE SERVICE 127 47 27 80 14 139 189 65 63 99 63 8 Ask 1 1 1 ) t inquiri employers. 4 OA ‘l"‘;ngEl:LE1=‘;9“! !rom?!'n-;‘l‘;)#l'fll.{' INSTALMENTS, or AR DESIRED, LAWFUL CHARGES ONLY, based upon actual unpaid balances, for the EXACT TIME YOU HAVE THE MONEY. 168 INVITED QUIGK SERVICE, HOURS 5 to. 5130, CATURDAYS, 9 to 1, CALL PERSONALLY, et WRITE. or US, NEW BRITAIN 1-9-4.3. Beneficial Loan Society ROOMS 104-5 Licensed, and Supervised, by State Bank Commissioner. Bonded to the State of Connecticut. BID T00 HIGH; TOWN MEETING NECESSARY Al Prices for Newington School Exceed Appropriation Voted Because the cost of bullding opera- tions is higher than expected, the of- ficials of the town of Newington will be asked to call a tdbwn meeting to make an additional appropriation for the proposed new school building, to be erected there this summer. Bids submitted have, without exception, exceeded the total appropriation, any- where from $2,000 to $7,000. Bids too High The appropriation calls for $25,000 and was expected to pay the total cost of erecting the building, which will beé a one-story brick, at Newing- ton center. Bids were asked and, ac- cording to original plans, should have béen accepted some time ago. Recent- ly the bids were opened by the com- mittee in charga and were found to run from the lowest bid of $27,330 to $32,000, A The contract was not awarded and the committee is at a loss what to do. The contractor, one of a Hartford firm who submitted the lowest bid has ben requested to confer with his sub % | % % % % % % % % % ed | 68 26 78 27 Assets—$13,000,000 being paid. Open 8 A. M. to 3 P. M. Monday Evenings—6:30 to 8. (Standard Time) 178 MAIN STREET Safe Way to Borrow Money — We Lend Money y Z, without removal, to persons having steady emplovment, or O e O amEioyors, - Ales lend to Property owners; NO FAWNS: LOANS RE: CONFIDENTIAL CONSULTATION THIS INSTITUTION ; SERV- 1s financed and directed by business and professional men: conducted in a spirit of public SERY R TROBY B rs” e BORBOWERS WELCOMED; CONCENTRATE . YOUR OBL U] NGS; N 2 A H INCEN $10NE TN ONE FLACE: WE WILL HELP YOU SOLVE YOCR PROBLEMS; PROFESSIONAL BLDG. (SECOND FLOOR, RIGHT). count. And we will pay you 4149, interest. Have you figured out why so many of your friends Burritt Savings Bank | Cor. Church and Main bank here at the “Trust Co.”? readiness to serve, our long experience and absolute It’s because of our confidence they have in this bank. You will find it a most satisfactory banking home. contractors and see {f he can reduce the amount asked. In the meantipe. another town meeting will be cailed and the citi- 2ens will be asked to approve an ad- ditional appropriation of $6,000, FIREWORKS ARE ABSENT Anticipated Upheaval in Democratic Club Fails to Materialize—Commit- tee 15 Named, . For the second time in as many weeks, projected fireworks at a dem- | ocratic gathering failed to material- ize when the Hardware City Demo- cratic club at a regular meeting last night transacted its business without a semblance of disagreement. Presi- dent Edward A, McCarthy named the following to serve with the democratic town committee as a committes to ar- range for an outing at the shore: Jeremiah J. Coftey, P, 8. McMahon, James P, Kiniry, Councilman 8. A Lynch, Dr. A. L. Avitable, John Prendergast, Fire Commissioner John Keevers. The next regular meeting of the club will be held Wednesday, July 12. A report will be received at that time from the outing committee. Many people are joining the Herald | classified club daily. by using a Save money—start Savings Bank of New Britain Organized 1862° A MUTUAL SAVINGS BANK It is the duty of every person to save, regularly and continuously. This bank offers a safe and convenient place for the deposit of these savings, where 4159 interest is START AN ACCOUNT NOW Herald classified ad. Surplus—$700,000 Saturdays—S to 11 .55 ¥ CONFIDENTIAL A\;) PRIVATE INQUIR- *PHONE 87 WEST MAIN STREET g PUTNAM & CO. Members New York Stock Exchange Members Hartford Stock Exchange (Buccessors to Richter & Co.) Stanley R. Eddy Manager 31 WE OFFER: " TR I 25 shares S. N. E. Telephone Co. 25 shares Hartford Electric Light JUDD & CO. MEMBERS HARTFORD STOCK EXCHANGE HARTFORD: Hartford-Conn: Trust Bldg., Tel. Charter 6330 NEW BRITAIN: 28 West Main St.. Telephone 1815, We Offer and Recommend SHELL UNION OIL CORPORATION 6% Preferred Stock to Yield 6.25. Thomson, Tenn & Lo NEW BRITAIN Hartford Vi 2 New Britaln National Bank Bldg. 10 Central Row .} Telephone 2580 Telephone 2-4141 Members Members Hartford Stock Exchange New York Stock Exchange For the investment of July 1st funds, we offer the following preferred stock:, Approximate Yields 7.15 7.35 6.25 7.50 6.60 6.85 5.35 6.90 8.15 6.50 American Chain American Fabric American Thread Billings & Spencer Crane & Putney Fuller Brush Hartford City Gas Light Co. International Silver Co. Jewell Belting Co. No. Conn. Light & Power Revillon Inc. Shell Union 0il Co. Stanley Works 7% U. S. Envelope 7% We do not accept marginal accounts. 7% preferred 7% g 5% 8% 70‘ “ “ “« %0 “ % « 8% To “ 7% “ “ “ % « 8 6% “ 07, “ JOHN P. KEOGH Member Consolidated Stock Exchange of New York B’at;rbury STOCKS NBndaport ew ven M;ilgdl‘;gwn BONDS Springfield Direct Private Wire to New York and Bostom G. F. GROFF, Mgr.—Room 509, N. B. Nat'l Bank Bldg.—Tel. 1013 he 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. LETTERS OF CREDIT — GENERAL BANKING * Bank by mail. It is safe and saves time. T n n Deposited in Our Savings Department Up to and Including JULY 3rd Draws Interest From the TRUST CO NEWERITAIN (g Open Tonight, 6 to 8 Standard Time oy

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