New Britain Herald Newspaper, July 29, 1922, Page 11

GENERAL RISE IN PRICES MAY BE ~~EXPECTED AS RESULT OF STRIKES July 29— Roger W. Babson regarding; the rallroad and coat strikes, . Babson did not seem sur. prised with recent developments. He believes that things are working out in & natyral way and all interests~are doing the best they can with a bad situation, What seems to interest Mr, Babjon most is the possible ef- fect on prices in general following the strike settlements, Discussing this possjbility he saya: . !'Effect of Ktrikes “The strikes while in progress na- turally put a general damper on busi- ness. THey have a disheartening ef- fect on producers, jobbers and retail- ers. Wage worke, have less to spend and manufacturers are less in- terested §n pushing their business. All of this tends to hold up trade in gen- eral. Yet!during this period of strikes, people are living, eating and dressing if no strikes existed. Houses are deteriorating, young folks are getting married, children are being born, clothes are wearing out, and merchandise in general is being con- sumed. 'If deterioration and con- sumption were suspended during the depression of labor strikes, then strikes might be good ‘for the coun- try at times. Unfortunately, ' how- ever, the deterioration and consump- tion goes on even though retail pur- chases deciine. “This means that after strikes are settied there is a general rush to buy. The wagé workers when returning to work again feel prosperous. They ond their families rush to the stores and purchase goods. The group of industries which have been involved in the strike immediately receive an avalanche of orders. They in turn feel prosperous and order new ma- chinery and quantities of supplies. This sudden increase in business from both wage workers and em- ployers is quickly feit by the jobbers who in turn pour in orders upon the manufacturers, Goods Become Scarce “The immediate effect of this is to cause a temporary scarcity of 800ds which in many instances re- sults in the raising of prices. There- fore I should net be surprised to see | an increase 4 the wholesale prices ©of many products this fall. In seme sections of the country there will be & distinct shortage in some lines of goods. Merchants, therefore, are Jjustified in stocking up now for fall and winter trade. Those who have contracts to fill should see that these contracts are well covéred. When business is 8o dull, as it is at pres- ent, 1t is hard to believe that a few months can see a radical change in the situation. Such is possible a)- though price increase may be more or less of a temporary nature. I say ‘temporary’ ‘because after the next spurt in com*podity prices, there will probably be another break which will make the general price level lower than it is at present. After this next upward movement, the gen- eral trend of commodity prices may be downward for some years to come. “‘Some of the basic commodities are already showing an upward tendency. Bugar, for ezxample, which has been such a drug.on the market during the past two yemrs, has airemdy “be. &un to strengthen and people are weil Justified in again buying sugar by the even barrel, Linseed oll is firmer, The demand has greatly improved and the outlook Is very much brighter, 1 pre- diet further advances for linseed and should not be surprised to see raw lineeed oll sell for one dollar or over, This is the general result of the large amount of bullding now In progress and the consequent demand for paint, Cotton is still strengthening. The re- cent estimate published shows that the 1922 crop will scarcely be suffi- clent for the world's needs, Still higher prices for cotton may be ex- pected. Steel prices are firm with risinge cost of production and a fair increase in demand. Both coal and coke prices are strong. Pig iron is in falr demand yod strong “Zinc is more active while prices are low they are! firm." The same applia to tin and| espéclally copper, Copper {8 the last! metal to feel the effects of price movements and copper is sure to sell higher during this coming year fol- lowing the strike settlements, The basic commodities which now look weak in the market are lead, rubber and probably petroleum. Petroleum is in a very interesting position. The market is controlled and there never was a time, even during the palmiest Standard Oil days, when the oil price situation was so under the absolute control of a few men. On the other hand, the A a tremendous amount of oil In =*)rage and statistically the ofl situation is weak. Although 1 cannot get anyone to agree with me, I believe that oil is at any time liable to break in price. . Benefit To Stock Market “What will this mean to the stock market?/ It lopks to me as if this! would be a benefit, especially to the industrials. The clean up of the strike situation should help the whole market, However, any stocks pur- chased now should be selected with great discrimination, only after care- ful study and consultation. Statistics, however, clearly indicate that we are still in a bull market and the hreak | of the past few weeks was only a na- tural action in a genefal upward movement which will not culminate for some months yet." General business stands at cent below normal, an improvement of two per cent since last week. This| week's figure marks the highest point | since January 1921, 11 per RULING IN TRADE WAR Alien Property Custodian Cannot Deed | Away Good Will of Concern New York, July 20.—A deed from the alien property custodian transfer- ring seized property of a German cor- | poration can neither control the con- | cern’'s good will nor prevent it fror resuming business in the United State in its own name after thé war, and seek trade from former customers, | Fedéral Judge Augustus N. Hand rul- ed yesterday in an equity action, The alien property custodian made a deed to the Koprel t'ar and Equip- | met Co,, Koppe! Pa., through | which a German the Or. enstein and - ngesell- schaft, did business 1a this country. The Germa. business here & company t and Equiprue, the custodian’s at deed pronibited it AMERIGAN FLAG IS GIVEN BIBLE GLASS Three Minister Members Partici- pate--Davis Flays Hypocrites If the rich man In the Bible whom God called a fool, were alive today he would be a respectable business- man and would be a memher of the officlal board of his church, accord- ing to Rev, John L. Davis, in an ad- dress to between 800 and 1,000 peo- ple at Everyman's Bible Class night at the Methodist camp meeting in Plainville last night. Flag Presented. Three ministers, who are members of the class, participated in the serv. ice, during which time a large Am- erican flag was presented to the class hy Rev. J. H .Bell, district superinten- dent of the Methodist church, The flag was the gift of campers on the grounds, It was received by James M. Burdick, first vice-president. Besides Rev. John L, Davis, who is Ieader of the class and did the talking, Rev. A. B. Taylor, of the People's church, class musical director, lead the singing, and Rev. A. N. Gilman, of the Stanley Memorial Congregational church, chaplain of the White army, made the opening prayer. Between 300 and. 400 members of the class with their wives were present. “The man who has the worst influ- ence in the world today is not the drunkard, or the gambler, according to Rev. Mr. Davis, but it ia the prom- inent doctor, the successful businsus- man, the lawyer and the society wom- an who influences the young man to violate the 1Sth amendinent and ‘take a social glass.’ On Official Board. Quoting the parable of the man who had such a bumper crop hs was going to tear lawn his barns and build big- ger, rather than help out his local philanthropies, he said: *“Any churdh in America would have t him on its official board. He was n sucesss- ful businessman, but he s utterly selfish. God wonld have put him where he belonged.” Severely flaying hyprocritss he saic: “I have 19 times the chaunce to damn a soul to hell than a drunkard has. You are afrald of the drunkard's in- fluence on your boy, but {7 you have a reputation like a whited eepulchre you can do mcre harra than zny drunkard ever did. Ten't thinic fust because ycu're in a Bible class t:at a're alright. It's the crowd of so- called respzctahle pessle that I am for my bey. The cther #ill never know his name. man we think has gone to vio, when the angels of God could tell us that's not the way he went. Trvibute to Walker. “I would rather risk the chance of the who died suddénly in our eity, with 2 deep sorrow on his soul, than of those who belong to the resgectable crowd. That man re- pented inaiy times his sin and T be- lieve the angels of God gathered by his side and carried him home.” There is one whole department at WALL STREET STOCK EXCHANGE REPORTS Mixed conditions ruled in today's stock market., Opening prices were mainly higher under the impetus of a renewed demand for ralls and some of the favorite Industrials where gains ran from 1 to 2 1-2 points, Oils, es- pecially Mexican Pet, also were strong with the resumption of the re- cent buying of high class equipments. Tobacco chemicals and rubbers mov- ed to higher ground, Motors were the uncertain features, Stdebaker re acting sharply from its early rise of almost 2 points. Atlantie Gulf also showed recurrent selling pressure, The closing was firm. Sales approximat- ed 30,000 shares, Quotations furnished & Company. by Putnam Low 5814 171% 118 61 377% 122 14414 018 5314 32 1193 BTY 8% 140 % 59 71 253 4“ 223 122% 1071 58% High Can 59 Am Car & Fry..172 Am Loco e 319 Am Smelt & Ref 611 Am Sumatra Tob 39 Am Tel & Tel ,.12214 Am Tob .......147 Am Wool ...... 91% Anaconda Cop .. 537 At Gulf WI... 308 Bald Loco .....1%014 Balti Ohie 57% Reth Steel B ... 78% Canad Pac 140 Cen eLteher Co. 391 Ches & Ohio .. 7T1% Chi, Mil & St P. 39 Chi Rock 1 & P 44% Chile Copper ... 22% Consol Gas ....122% Corn Prod Ref.10714 Crucible Steel .. 91% Cuba Cane Sug. 161 15% Erie s aononeabhy 17 Frie 1st pfd .... 25% 25 Gen Elec -82 181 Gen Motors .... 14 133 Goodrick (BF) . 37% 37 Gt North pfd .. S3% 83 Inspir Cop .. 411 41 Interbor Con 185 1% Interbor Con p! 31 31 Int Mer Mar ... 181, 1814 Int Mer Mar pfd 72% 72% Allls Chalmers . 54 535 Pac Ofl ..... 55 541 Int Nickel 17% . 11% Int Paper ...... 58% 523 Kelly Spring Tire 47 46 Close 172 110% 61 39 12214 Am 5 v R theft. this week or next. the Herald for our classified ad- from doing so. vertisers. Our Foreign Exchange Department will transfer money for you to any part of the world at the lowest rates. We open accounts in any foreign bank. For your con- venience, if going abroad, we have on hand a limited amount™ of Foreign Currency, which you can secure to take with you. If you have any questions we will be only too glad to talk them over with you. | | | Niles Be Pond com | Scovil { Studebaker * DISAPPOINT THAT BURGLAR ! HAVE you something you can never replace! Not a day passes without a burglary or a We cannot in our homes against it. It may occur tonight, tomorrow, / PREVENT loss by a SAFE DEPOSIT BOX in our vault. They rent for less than 1 cent a day. Disappoint that burglar. Kennecott lack Steel Lehigh Vallay Mex Petroleum Midvale Steel Missouri Pacific N Y Central NYNHG&H Norfolk & West North Pacific ure Of1 ran Am P Penn R R Pittsburgh Coal Ray Con Cop Reading . Royal D, N Y Sinclair Ol Ref 8outh Pacific South Rall Cop 96% Y BTN &TH Co as Co . Tobacco Prod. . Trans Ofl Unlon Pacific ..143% United Re St 627 U 8 Indus Alco 637% 7 8 Rubber Co 50% ' 8 Steel L. 1018 S Steel pfd 21 Willys Overland 8% (Putnam & Co) Bid 163 1% .125 14% 1 1 i W Hfd Elee Light Southern N I Tel .. Am Hardware T Pillings & Spen com ... 2614 iristol Brass . 20 Colt's, Arms .. 26% Yagle lLock ki lLanderswF & C . 56 N B Machine . 458 50 North and Judd . . 31 Peck, Stow & Wil Russell Mfg Co .. 89 Mfg Co .....0..860 tveeei268 . 20 45 47 1% 52% Standard Screw Traut & Hine . Unfon Mfg Co . Stanl Works . RESCUED FROM MINE SHAFT Murphysboro, Ill, July 28.—Fire discovered in a mine of the Midway Coal Co. near Ward ten miles north- east of here imprisoning four men in the shaft for 12 hours yesterday stlil was burning early today while com- pany officlals were preparing to seal the shaft. There of the men trapped in the mine Milo McGowan, general man- ager; Willlam Forth a pump man and Tom Kelly a foreman, were rescued last night, while Harry Laughlin an inspector of the mine, was taken un- conscious from the shaft. —— I T provide 10T ORI R N 1 NEw BriTAIN NATIONAL BANK We are open Saturday Evenings, 7 to 9 o’clock The Burritt Savings Bank is the bank, where your boy or girl started that school savings account. You have enjoyed knowing that they were making the right start in life (learning to save those spare pennies) and you surely were surprised how fast they accumulated. Have you, their parents, a similar savings ac- count! Why don’t you try it too? And the best of it is —.we pay you 41/507, interest. Bring that $1.00 in and make the start tonight. e | " | | PUTNAM & C Members New York Stock Exchange Members Hartford Stock Exchange (Successors to Richter & Co.) Btanley R, Eddy Manager 41 West Matn St Tel. 3040 We Offer'— 25 Shares S. N. E, TEL. CO. 25 Shares TORRINGTON CO. 25 HARTFORD ELECTRIC LIGHT MIMBERS HARTFORD STOCK EXCHANGE RARTFORD: Hartford-Conn. Trust Bldg., Tel. Charter 6330 NEW BRITAIN; 23 West Main St., Telephone 1815, WE OFFER: 50 BIGELOW-HARTFORD, Common. 50 HART & COOLEY 50 TORRINGTON At the Market. Thomson, Tenn & Co. NEW BRITAIN Hartford New Britain National Bank Bldg. 10 Central Row lephone 2580 Telephone 2-4141 Members Members Hartford Stock Exchange New York Stock Exchange Donald R. Hart, Mgr. We Offer:— AUTOMATIC REFRIGERATING CO. AT THE MARKET Price on Application We Do Not Aceept Margin Accounts JOHN P. KEOGH Member Consolidated Stock Exchange of New York lSV\’atzrbury STOCKS NBfldtg‘em ey BONDS Springfeld Middletown Springfield Direct Private Wire to New York and Boston G. F. GROFF, Mgr.—Room 3509, N. B, Nat'l Bank Bldg.—Tel. 1013 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. LETTERS OF CREDIT — GENERAL BANKING Bank by mail. It is safe and-saves time. Savings Bank of New Britain Organized 1862 Assets—$13,000,000 Surplus—$700,000 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 being paid. START AN ACCOUNT NOW Open 8 A. M. to 3 P. M. Saturdays—8 to 11 Monday Evenings—6:30 to 8. (Standard Time) 178 MAIN STREET THE GREAT MONEY- LENDER WITH A HEART We lend money to honest persons having steady employment. Loans for sums needed up to $300, repayable in six to fifteen moathly installments, as arranged to suit convenience of each horrower; legal rates charged pn sum still due for time used: no charge unless loan is made; deals‘confidential and none will know you are borrowing; private offices; glad to explain Beneficial Plan; courteous treatment; convenient and safe place to borrow; quick service; new borrowers welcomed ; hours, 9 to 5:30; Saturdays 9 to 1. Call, write or phone. New Britain 1-9-4-3. Beneficial Loan Society 87 W. Main St. New Britain Licensed by State Bank Commissioner. Members Legal Reform Aurcau to Eliminate the Loan Shark Evil, N. Y. Room 104-5