New Britain Herald Newspaper, September 16, 1922, Page 11

HEAYY STORM DAMAGE Massachusetts Towns and Northern New England Swept By Gale— Farm Bulldings Destroyed, Boston, Sept, Y6,—Communities in Massachusetts and northern New England today were repairing damage done during the night by the severest electrical storm of the season. Farm bulldings were destroyed, churches and homes were damaged, and tele- graph and telephone services were crippled. The storm sweeping over Maine and New Hampshire also put out of commission the lighting #vs- tems of several cities including Port- land, Me, Concord, N, H, and Dover, N. H. There are more and more joining our Vacation Club each day. This idea of putting away 50c, $1.00, $2.00 each week for 40 weeks certainly appeals to those who like to have their ‘vacation money for 1923 | all ready next June. Are ‘you one of these? Come in .and make a start tonight. We are open from 7 to 9. NEW BRITAIN DAILY HERALD, SATURDAY, SEPTEMBER 16, 1922, Wellesley Hills, Mass, Sept. 1 Roger Babson evidently is not upset by labor difficulties and the thre g ened coal shortage. In a statement issued today he forecasts good busi- ness for the next few months, Go After Business, “Go after business.now!" says Mr, Babson. “Buyers during these past two years have been fodlowing a hand to mouth policy., Everyone has pur- chased as little as possible because a delay has meant lower prices and a consequent saving. WiIth the turn of the business tide, however, prices again tend up and both business man and individual will make more money by buying ahead rather than by fol- lowing the more conservative policy. | An analysls of 76 basic materials for instance shows that 48 are higher to- day than they were a year ago, 24 are lower than a year ago, while four commodities show no change, Price increase will be felt most on the raw materials that have been com- pletely deflated, but finished goods in practically all lines will show some strengthening during the next few months, Turn With the Tide. “It is partioularly important that retail merchants fully grasp this change in the situation. They must furn with the tide. The retailer should plan on a substantial increase in trade between now and Christmas. It he does not.-he will be caught with o shertage rather than a surplus of goods, and a transportation tie-up will make it difficult to get more on short notice. *“This increase in business will be due to a combination of {increased purchasing power and a change in the attitude o® che general public. In soite of the strikes and labor unrest there is relatively littie unemploy- ment at present. On incomes over $1,000 figures show that 48 percent. of the purchasing power of the coun- try comes to the individual as wages and salaries. This makes up the bulk of the purchasing power upon which the average business man must depend. A drop in the cost of liv- ing and prospect of steady werk is yapidly turning a majority of these people into ready buyers. Farmers’ Prospects Good. “In the farming field, bumper crops and better prices promise to class the farmer as a good prospect. He has bought very little since 1920 and his accumulated needs should absorb a tremendous quantity of farm ma- chinery and supplies. The plans of the business world accumulated dur- ing these past two years will also be put into operation this fall. “The combination of these several factors points to a merchandising shortage. If I were a vetailer I should certainly buy all goods neces- sary for Christmas trade now and insist upon early deliveries. . ““This general increased business activity will lead in turn to the in- creased business and industrial profits | that are already being reflected in the action of the stock market. In- creased profits, or course, mean more money for expansion and equipment. Rents and money rates, in the mean- time, are tending sradually down- ward, relieving both individual and business house in the matter of over- head. Banks have ample funds to meet all commercial and investment requirements. In many localities | money is a drug on the market. The slight seasonal tightening will doubt- less be experienced at crop moving | time, but taking the fall season as a | whole money throughout the West and South should come nearer to the New York market level Investment Market, “In the imvestment market, prices of good bonds promise to rule strong this fall. As investment capital ac- cumulates the interest rates ease off, bond prices automatically rise. As It's the Burritt Savings Bank where all those 8,000 school children bring their school savings—they are your children—you are proud and glad that they are saving each week. Now are you also setting a good example for them? A small amount ($1.00) will start an account. Try it tonight. Open7to9 SUBSTANIL INCREASE IN RETAIL TRADE EXPECTED BEFORE HOLIDAYS profits and ineome increase, the non- taxable issues will again be In de- mand., The effect of commodity prices will be more than offset for the time being by the quantity of money avallable. Continue to hold your bonds, “Whether or not we shall have a reaction In the stock market this fall is not the point. We may get the break that the ‘bears’ are hoping for or sticks may climb suddenly. Thel point of importance, as I see it, is the | fact that we have just turned the corner at the bottom of a period of depression and that the stock market has never reached its high point un- til early in the period of prosperity. These whg own good stocks outright need do no worrying about the mar- ket. LABOR FEDERATION ADVISES WORKERS Inter-Union Walkouts Gondemned in Resolution Effective at Once Atlantic City, N. J, Sept. 16— Juriséictienal strikes in the buildings trades—strikes of one union against another—which have in the last few years held up millions of dollars' worth of construetion work through- out the country, were condemned in a regolution adopted yesterday by the executive council of the American Federation of Labor. This was learned last night, al- hough members of the council re- fusd to make public or discuss the details of their action censuring unions that strike against other unions. The text will be communi- cated immediately to the building trades department of the federation. The council also decided to call a national confrence of building trades unions in Washington or Indianapolis as soon as possible in an effort to adjust the jurisdictional dispute be- tween the sheet metal workers and the carpenters’ union, which alrady has tied up millions of dollars’ worth of building in various cities. Resolution Called Drastic The declaration of the council on Jjurisdictional strikes, it is learned un- officially, is one of the most drastic on record and serves notice on the building trades unions as well as all others that strikes of one union against another are entirely at var- fance with the policy ana spirit of the American trade union movemeht, and will not be condened by the fed- eration, When the council's action became known labor leaders expressed sur- prise but it was learned that the jur- {sdictional strike had developed into such a serious problem that action was necessary. Reports received by the council showed that construction work in Cleveland, Detroit, Indian- apolis and New York had time and again been interrupted by disputes between unions as to which should or should not do certain work. The matter was brought officially to the attention of the council in a hearing on the fight between the Sheet Metal and the Carpenters’ Unions, brought about by the refusal of the carpenters to abide by the de- cisions of the National Board of Jur- isdictional Awards, a body organized to arbitrate jurisdictional questions and prevent inter-union strife. As a result of the refusal of the carpenters’ union to obey the board's decision awarding the work of in- stalling metal trimmings and doors in buildings, the building trades depart- ment in Denver, in 1921, censured the carpenters’ union, which retaliated by withdrawing from that body and go- ing it alene. In many secfions of the country the carpenters’ unions Lkave withdrawn from the central building trades bodies and adopted a policy of non-co-operation. This disposition on the part of the carpenters has aroused the opposition of the bricklayers' urion, which last month started a movement among the bullding trades unions urging them to refuse to work on any build- ing construction where the carpenters attempt to do work awarded to the sheet metal workers. Since the with- drawal of the carpenters from the building trades department Presi- dent Samuel Gompers has attempted | repeatedly to smooth out the diffi- culty, but has failed. At the recent convention of the federation in Cin- cinnati he was rebuked for injecting himself into the controversy. The sentiment of the memhers of the couneil, it was learned, was that the drastic action proposed by the bullding trades against the carpen- ters was uncalled for, and “the strike club was being wielded unnecessar- iy The proposed conference to adjust the question will be held just as soon as William Hutcheson, president of | the Carpenters and Joiners' union, re- turns from Europe, probably the latter part of next month. “We are against one union striking against another,” said one high offi- clal of the council. “Such action is at variance with the policies of or- ganized laber. This leads to disin- tegration when we need co-operation. The public inconvenience caused by such strikes should also be avoided. The council has taken a strong stand in this matter.” 0dd Fellows Meet in Grand Lodge Sessions{ Detroit, Sept. 16.—Canada and ev-| ery state in the union was represent. | ed at the opening here today of the | annual cenvention of the Sovereign Grand Lodge Independent Order of 0dd Fellows. The sessions conunuc‘ through next Friday. Labor Situation Is Affecting Prune Crops Salem, Ore, Sept. 16.—The labor| situation in its relation to the prune harvest has become so acute that plans are being made for merchants of Dallas, the county eeat, to close their steres next Menday o their employes may pick prumes. The crop STOCK EXCHANGE REPORTS Wall street—Persistent offerings by professional interests caused the bull faction to abandon its initial efforts to force up prices with the result that the wave of heaviness spread over the list in today's brief stock market ses- slon. Bear traders apparently worked on the theory that certain specialties had been pushed up too too promin- ent & place to the exclusion of recog- nized leaders and that these stocks had over-discounted the expectd bene- fits from the improvement in the in- dustrial situation. Several stocks, how. ever successfully swam again the downward current. New York Alr Brake, Postum, and a reduction ad- vaneing 1 to 3 points to new high records while Pan-Am'n and Mexi. can Pet. {ssues showed gains of 1 to 2 points, The ¢losing was heavy, Bales approximated 425,000 shares, Quotations furnished bv Putnam & Company. High 463 Low 4614 611, 188 29 123% 63% 82Y 43% 123 182 9914 b4% 107 1351 571 1% 148 42% 5% 48% 23% 141 1161, 921 14 88% 158 2485 182 14% 941 Close 46% 617% Am Bt Sugar .. Am Can 62% Am C & Fdy .. 190 Am Cotton Ofl .. 20% Am Loco ..... 124% Am S & Ref .... 64 Am Sug Ref com 82% Am Sum Tob .. 44 Am Tel & Tel . 124 Am Tob ...... 182% Am Wool . 1008 Ana Cop . 54% At Top 8 & F . 108 Baldwin Loco . 137% Baltimore & O . 581 Beth Steel B .. 78% Can Pacific ... 148% Cen Leath Co . 43 Ches & Ohio ... T8% Chi Mil & St P . 34 Chi R1Isl & P .. 48% Chile Copper 24 Con Gas ...... 143% Corn Pro Ref . 1168% Crucibue Steel .. 933 Cuba Can Su .. 14% Endicott John . 88% Erie 1st pfd Gen Electric .. Gen Motors .. Goodrich (BF) . Gt North pfd .. In Cop Inter Con Int Con pfd . In Mer Mar In Mer Mar pfd . 5 Allis-Chalmers . Pacific Oil .... Int Nickel .. Int Paper .. Rly Spg Tire Ken Copper .. Lack Steel ..... Lehigh Valley . 7 Mex Pet ....... Midvale Steel . NY Central NYNH&H.. 32% Norfolfl & West 123% North Pacific ... 883 Pure Oil o 32% Pan Am P & T 81% Penn R R 49% Pierce Arrow ... 12 Pitts Coal .. 18 Ray Con Cop .. 16 Reading . 80 Rep I & S . T0% Royal D N Y .. 59% Sinclair Oil Ref . 35 South Pacific ... 95% South Rail .... 274 Studebaker Co ..130% Texac Co®... 48% Tex & Pac .. 31% Tob Produ 87% Trans Oil Union Pacific .. United Re St ... U 8 Food . U 8 Indus Alco . U 8 Rub Co .. U 8 Steel U 8 tSeel pfd Utah Copper ... Willys Overland Westinghouse Middle States Oil 133 Colo Fuel 35 95 4 =t 14% 5814 57% 1% 361 803% 698 187% 348 9934 3214 122% 8814 9% 48% 71 79% 697% 585 4% 94 261 129 Yy 87% 143 152% 847% 6% 531Y 1058 mn % 133 35 58% 34y 944 26% 180 41% 8T% 1y 153 84% % 53% 104% 69 H 139 35% \ (Putnam & Co.) Bid Co....663 ..193 Asked 670 196 75 122 26 Aetna Life Ins. Am Hardware Am Hosiery Bige-Hfd Cpt com.. Billings & Spencer com Billings & Spencer pf Bristol Brass Colt's Arms. . e Conn Lt & Pow pfd.. Eagle Lock Fafnir Bearing C Hart & Cooley .... Hfd Electric Light Landers Frary & Clark J R Montgomery com J R Montgomery pfd.. N B Gas . i N B Machine . a N B Machine pfd .. Niles-Bem-Pond com North and Judd o Peck, Stow & Wilcox. .. Russell Mfg Co Scovill \Mfg Co & N E Telephone Standard Screw Stanley Works : Stanley Works pfd ... Torrington Co com .... Traut & Hine Travelers Ins Co . Union Mfg Co STREET CLEANERS BUSY White Wings Working Hard to Clear <119 24 36 4% 41 50 50 33 a0 350 128 290 58 29 421 22 705 48 Strects of Effects of Night of Straw Hat Smashing. New York, Sept. 16.—Street clean- ers were busily sweeping up the re- mains today of the wild orgy of straw hat smashing last night. All along Broadway the battles| raged. The appearance of a straw hat was the signal for the rapid en-| trance of gangs of hoodiums and in an amazingly short time the straw hat was scattered over the street. The| police were kept busy. But there was not enough of them and there was, too many hats. Hundreds of com- plaints were made by citizens. Thousands of hats were smashed. | At gome pointe, boys armed with leng | sticks boarded strect cars to attack passengers dressed in summer head- is big. gear. PUTNAM & CO. Mcembers New York Stock Exchange Members Hartford Stock Exchange (Successors to Richter & Co.) Stanley . Fddy, Manager 81 West Main St, Tel. 2040 e We Offer 30 Shares Southern New England Telephone Co to yield 6.25% We are pleased to announce that Mr. Harold L. Judd -of our Firm, has this day been elected to membership in the New York Stock Exchange. We shall be prepared to buy and sell securities listed on the New York Stock Exchange for cash or on a con- servative marginal basis. Our private wire connection affords us the opportunity to reach the principal exchanges of the United States and Canada. JUDD & COMPANY omson, 1fenn NEW BRITAIN Hartford . New Britain National Dank Bldg. 10 Central Row Telephone 2580 Telephone 3-4141 Members Members Harttord Stock Exchange New York Btock Exchange Donald R. Hart, Mgr. WE OFFER 50 SHARES LANDERS, FRARY & CLARK 50 SHARES NORTH & JUDD Price on Application. ‘We Do Not Accept Marginal Accounts. JOHN P. KEOGH #Member Consolidated Stock Exchange of New York aws SIOGE ayges . : mddleawn BONDS Springfield Direct Private Wire to Ncw York and Boston G. F. GROFF, Mgr.—Room 509, N. B, Nat'l Bank Bldg.—Tel. 1018 The Hartford-Connectict Trust Company Corner Main and Pearl Streets, Hartford, Conn. Capital $2,000,000.00. Su¥plus 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 419 interest is being paid. START AN ACCOUNT NOW Open 8 A. M. to 3 P. M. Saturdays—S8 to 11 Monday Evenings—6:30 to &. (Standard Time) 178 MAIN STREET S e —— SHRINERS IN GONCLAYE Howard J. Budley and the Divan of Crescent Temple, the host of the | party Musical selections were ren. wipe | dered by the bands of Crescent Tem- City | ple, Mecca Temple, Cypress Temple and the Crescent Temple Chanters of Trenton. A reception was tendered to Imperial Potentate McCandless. After the opening ceremonial the audience was treated to a series of patrol driils, always a big feature of Shriner gatherings. The difficult evolutions were executed by the pa- | trols from Mecca. 50,000 Descend Upon Atlantic and Take Scaside Resort by Storm —18th Annual Pilgrimage. Atlantic City, N. J., Sept. 16.—Re- | splendent in their colorful uniforms, Shriners from 21 temples took pos- session of this resort last night. The assemblage of nearly 50,000 nobles and their families marks the eight- enth annual pilgrimage of the Cres- cent Temple of Trenton, N. J., host of the three-day conclave in which ) * * prominent Shriners from all parts of | On Tampico Shipping the country are participating. Among Mexico City, Sept. 16, (By Asso- them is Imperial Potentate James S. ciated Press).—United States health McCandless of Honolulu. authorities have declared a quargn- Mecca Témple, New York, headed [tine against Tampico because of yel- by Potentate PaulJones, was among low fever, it is reported. Usual fumi- the early arrivals and drew applause gation regulations have been pre- as the 800 uniformed nobles swung | scribed before vessels from Tampico down the Board Walk to the steel!are permitted to enter American pier, where the opening exercises|ports were held Atlantic City is a flutter with deco- | Fox e " rations for the visiting Shriners and| CLEARING HOUSE REPORT the emblematic crescent is every- New York, Sept. 16-—The actual where on dieplay. The Pligrimage | condition of clearing house banks and officially opened with a reception 6n | trust companies for the week shows the steel piler, to which visiting po- | they hold $100.387,480 in éxcess of tentates were escorted by their uni- | legal requirements. This is an increase formed bodies to meet Potentate of $66,683,2560 from last week. |Quarantine Declared