New Britain Herald Newspaper, August 12, 1922, Page 11

BABSON TRACES EFFECT OF GERMAN PROBLEM ON BUSINESS OF AMERICA . Wellesley Hills, Mass., Aug. 12, — The, Gemman question was discussed today by Roger W. Babson, statisti- cian, who has been entangling the in. ternational and financial situation. Germany a Bankrupt “Germany has falled to meet her obligation on the Indemnity pay- ;ments,’ says Mr. Babson, “and. like any other concern {8 judged bank- rupt. We face the same situation that we find when a business can not -pay its debts. We either have a re- organization and try to get it back on to {ts feet or we call in the refere¢ : .ng judge it bankrupt and sell its as. that we had at the béginning of the sets and put it out of business, “The world is now having a credit- ors’ meeting to ‘decide what is to be done with Germany. Up to the pres- ént time France, the largest creditor, has been talking the pound of flesh, It is only: within the past few. days that she has offered any other propo- sition, Now, however, France sées that if she will let Germany off that England will let France off. It {8 un- derstood that a French ambassador is dealing with the United States gov- ernment at this tirhe, in the hope that ‘the republic may be released from -~ NEW BRITAIN DAILY HERALD, SATURDAY, somé of the debts she owes to us. These later developments are favor- able indeed, and strongly suggest that a friendly re-organization of German finance {8 possible. France Could Cause Panic¢ “If France on the other hand, were to march an army to Berlin, and to collect the pound of flesh by force, it s quite possible that this might align Tcussia, Italy and even possibly Eng- land with Germany and bring about another war. This, of course, would be an undesirable situation from every point of view. Buch action would undoubtedly cause a panic In our stock market, and would serjous- ly embarrass our big banks. It would upset business generally, We would| not even experience the business boom last European war. The new gases and chemical weapona of warfare de-. veloped since 1918, can be made just as well in Europe as over here fi [ —— K KX X=X} 50 D0 H0CHS0cCS 0650 0c—So0cC 5 0OCDoc S0 o0c=50¢c fi m [ A—X 1) e = v 0:0:0:}0%0@0@0 For You— A Progressive Bank ]IF you are looking for banking service that is progressive and constructive, where you will find a spirit of cordiality and helpful- ness; it will pay you to investigate the facilities offered by this institution. We are serving a steadily increasing number of depositors who like our methods and our policy; we believe there are reasons why you, too, would'find it advantageous to make use “ of our organization. Tell us your requirements and let us explain how we can be helpful to you. (——X-X=—X] 0D 0 & 0 » Soc D oc Do o0 o > 0 C Soc—S oc Standard Time “If, however, Germany hasa friendly re-organization of her finance it would mean - much and boom American husi ness, Such a reorganiggtion would clear the alr and overcdme the fear of repudiation which keeps all our foreign transactions in a muddle, It would do away with the uncertainty of the situation and If arranged to the mutual satisfaction of all parties con- cerned it would give the whole world the confildence it needs at this particu- lar time. It would strengthen busi- ness everywhere, The greatest part of the benefit would be feit in Am- erica, 1 certainly hope that this will be the outcome, German Firms Sound “In the meantime," concluded Mr. Bahson, ‘‘we must remember ona‘f thing more, there is a distinct differ. | ence betweén Germany's government- al finances and the finanfes of Ger- man firms and cororations. The cred- it of Germany's government s almost | nil because of the tons of paper marke | which it is obligated to redeem. The banks.are also in a rather uncertain position because their cash assets are of very uncertain value. The private firms of Germany, however, hold real property, factories, ,machinery, land tquipment and merchandise, Most of them are in a sound condition because these things are of actual and per- manent value. The reorganization of Germany's finance would upeet the German goverament's financlal bureau and might call for considerable re- adjustment {n Germany's banking cir- | cles. It need have little affect on the | real credit of private firms." General business {s maintaining its recent improvement in spite of un- favorable sentiment created by coal and rail strikes. Business is but nine | per cent. below normal. No change | since last week. ERSONALS. Henry R. Johnson, of 28 Church street, has gone to Tremont, Ohio,| where he will spend the balance of| the summer with his brother. Henry Gregory and Miss Lillian Johnson, of Church street, have left for Ocean Beach, where they will, spend a week with friends. Mrs. Edward Flaherty, of 54 Sun-| rise avenue, left today for Washing- | ton, D. C., to join her husband who | is employed there in the postal em-! ployment service. Mr. Flaherty worked for 19 years in the Landers, Frary and Clark factory. | Miss Helen M. Bradley of the Y. W C. A. and Miss Marie Young of At- lantic City, N. J., are spending the month of August on the Salmon river, | Moodue. Miss Kathryn Tormay, of |55 Curtis street, will leave shortly to {join threm for the remainder of the month. { Mr. and Mrs. J. Sandstrom of Chest- !nut street left today for a visit to their daughter, Mrs. R. Anderson of | Brockton, Mass. Miss Florence Sirken and the Miss- es Mary and Louise Berman, all of |this city, are spending the remainder |of the month at Ocean Beach, New | London. Miss Flora E. Clark of this city has registered for special courses at the summer session of Boston University. Miss Clark is specializing in short- hand, typewriting and vocational | guidance. Dr. J. W. Bush will leave Sunday for a two weeks' vacation He will join his family in Indianapolis, Ind., and go from there to Dayton and !Cleveland, Ohio, and Niagara Talls, N. Y. Miss Anne Dawson and James Daw- son, of Maple street, have gone to o ocCDo0 D0 HD0c—Do e e || l! ) 00T D 0ED0CTD0EC D0 D0 00D 0 o 0 Prospect Beach, West Haven, to |spend two weeks. Your checking account here and the acquaintances with our officers may be the means of placing your financial affairs on a safer and sounder basis. Why not come in and get acquainted and make this your banking home? Open Saturday Evenings, 7 to 9 Did yofi start that savings account with a dollar ($1.00) as we suggested in that advertisement of There were some who did—you can if last week? [today's 1ight |Am AUGUST 12, 1722, WALLSTREET STOCK. EXCHANGE REPORTY A strong under tone continued in half holiday session of the stock market, Absence of effec- | tive buying power for investment rafl- | road shares encouraged some specula- tive pressure in the first hour at Atch inson, Northern Pacific and North- western Unlon Pacific, @reat Northern pfd. and Chesapeake and Ohlo sag- ging 1 to nearly 2 points. Olls also | receded after their temporary show of strength, Mexican Pet, falling back | more than 2 points. A general ad- vance took place towards the close, | however, when a good demand arose for steels, motors and some special- ties. The closing was firm. Sales a proximated 250,000 sharea. Quotations furnished by Putnam & Company. el High 46 58 Am Bt Sugar .. Can . Car Fdy 1721 Cotton Oil .. 26% Loco 1188 Smt & Ref . 607 Sug Ref com 808 Am Fel &Tel ...122 Am Tob .......140% Am Wool .... 0114 An Copper 537 Atc Top & §. F101 At Gulf & W. I . Bald TLoco Balt &Ohio . Can Pacific Cent Leath Co .. Ches & Ohlo .... Chi, Mil & St. P Chi Cock Isl & P Chile Copper Chino Copper Con Gas . Corn Prod Ref Crucible 8tl Cuba Cane Sugar FEndicott-John .. Erie s Lrie 1st pfd ... Gen Motors Gt North pfd Insp Copper Inter Con . Inter Con pf: .. Int Mer Marine . 143, Int Mer Mar pfd 65% Allis-Chalmers . 531 Pacific Ofl .. 531% 53 Int Nickel 173 17% Int Paper BT % 563% Kelly Spring T . 4334 Ken €op ...... 36% Lack Steel 803 Lehigh Steel LLEA Mex Petrol 177 % Midvale Cteel 347 Mis Pacific .... |N Y Central . NYNHG&H . ;Norfolk & W . 1163 | North Pacific Pure Oil . [Pan Am P & T Penn R R | Pierce Arrow .. | Pitts Coal it ! Ray Con Cop | Reading e |Rep 1'& § .. | Royal D N Y | Sinclair Ol Ref | South Pacific South Rail | Studebaker Co | Texas Co .. Texas & Pacific . | Tobacco Pfo ... 791 Tratis: Of17 o, 00018 Y Union Pacific . 1441 United Fruit 147 14 United Re St 85% U .S Food Prod U S Indus Alco | U S Rubber Co . 5 U § Steel | U S Steel pfd Utah Cop Willys Overland Middle States O 12 Con Textile .... 10% (Putnam & Co.) Bid Aetna Life Ins. Co 6635 Am Hardware v 187 Bige-Hfd Cpt Co com ..1 Billings & Spencer com 25 Billings & Spencer pfd 26 Bristol Brass v Colt's Arms Conn Lt & Pow pfd Eagle Lock . Fafnir Bearing Co . FIALY & CobleY ..icv00 Hfd Elec Light Landers, F .. |7 R Montgomery com . J R Montgomery pfd N B Gas wion 80 IN B Machine ......... 8 N B Machine pfd | Niles-Be-Pond com |North and Judd Peck, Stow and Russell Mfg Co 88 Scovill Mfg Co vee 340 Southern N E Tel .....125 |Standard Screw Stanley Works | Stanley Works pfd Torrington Co com Traut and Hine | Travelers Ins Co |Union Mfg Co Am Am Am Am Am 32 11413 03 15 % 53 173 2614 1314 90 41% 1% 4% 178 26% 883 413 45 141 65% | 551 | 5314 178 56% E a2 8834 40 4% 14% 651% 531 365 8% 665 175% 341 368 79% 661 1751 351 971 3114 1158 81 28% 5% 4614 10 6614 1614 7814 T2Y 531 307 92 2614 1241 97T% 3114 116 | 8184 293 | T51% | 461 | 103 | 6714 535 | 307% 92y | 26% | 1257% . 46% (L ERE T 79 13 144y 13y 1443 | 66% T84 124 10y Asked 645 26 110 59 54 104 152 55 23 102 49 Wilcox 31 | NEW YORK Exchanges 80,000 "54,900,000 IS ROBBED W. Goldberg, proprietor of a dry- goods store at 43 Broad street, re- ported to the police this morning, that |a showcase in front of the store had Leen broken open during last night, and 15 men’s shirts were stolen i HOUSE REPORT |3 PUTNAM & Members New York Stock Exchange Members Hartford Stock Exchange (Successors to Richter & Co.) Stanlcy R, Eddy, Manager 31 West Main St., Tel. 2040 We Offer:— FULLER BRUSH CO. 7% 1ST PFD. STOCK Stock if bought now carries the Sept. 1st dividend. Price to yield 7% MIMBERS HARTFORD STOCK EXCHANGE BARTFORD: Hartford-Conn. Trust Bldg., Tel. Charter 6330 NEW BRITAIN: 23 West Main St.. Telephone 1815, _We Offer— NORTH & JUDD To Yield Approximately 69, NEW BRITAIN Hartford New Britain National Bank Bldg. 10 Central Row Telephone 2580 Telephone 2-4141 Members Members Hartford Stock Exchange New York Stock Exchange Donald R. Hart, Mgr. y . WE OFFER: UNION MFG. CO. PRICE ON APPLICATION We Do Not Accept Margin Accounts JOHN P. KEOGH Member Consolidated *Stock Exchinge of New York Waterbury STOCKS Bridgeport Danbury . New Haven Middletown BONDS Springfield | Direct Private Wire to New York and Boston G. F. GROFF, Mgr.—Room 500, N. B. Nat| Bank Bldg.—Tel. 1613 The Hartford-Connecticut Trust Company Corner Main and Pearl Streets, Hartford, Conn. Capital $2,000,000.60. 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 7S Organized 1862 Assets—8$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 4149, interest is being paid. START AN ACCOU Now Open 8 A. M. to 3 P. M. Saturdays—s8 to 11 Monday Evenings—~6:30 to 8. (Standard Time) 178 MAIN STREET ‘: AR ) STV O R GAN TZE D18 6 O Ml B The Paper That Is Not Recorded PERHAPS you have title papers that are not re. corded. What if they are burned up! Can't re- place them. Have no record of them. Lots of titles are tangled because their owners neglected to take care of their papers. Why not keep them in a box in our vault? Only costs you $3.00 a year. New BriTAIN NATIONAL BANK AN THE ONLY NATIONAL BANK IN THE CITY s WHY The Society Is a Safe Place to Borrow Money in Sums at $300.00 or Less you will. Try it out and make a start this next week, We will pay you 4149 interest, too. Open Saturday Evenings, 7 to 9 BURRITT SAVINGS BANK —Licensed and Bonded to the State —Supervised by the Bank Commissioner —Financed and directed by business and professional men of high standing —Lawful interest, or less, charged —EIGHT YEARS reputation for square dealings, as the HONEST MAN'S FRIEND —Service and all consunltation STRICTLY PRIVATE (We have especial offices for this purposc.) —All business donc honorably and legally, and your full obligation given you in writing —Members: Legal Reform Bureau to Eliminate the Loan Shark Evil, Local Chamber of Commerce, and other welfare organizations. All honest persons, with steady incomes can benefit by our plan. We will make FURNITURL or the guarantee of some responsible person. Fifteen months to repay fit. OUR SLOGAN—Those who serve others, serve themselves, For further explanation as to BENEFICIAL SERVICE, CALL. WRITE OR PHONE 1-9-4-3, BENEFICIAL LOAN SOCIETY Professional Building 87 W. Main St., New Britain ou a loan on your or less as you see Rooms 104-5