New Britain Herald Newspaper, November 4, 1922, Page 15

D e 2y S b Il Stk AT LA oS s BABSON SEES RAPID BREAK-UP FOR BOTH REPUBLICANS AND DEMOCRATS Wellealey Hills, Mass, Nov, 4.~In our Interview this week with Roger W. Babson, the question of what ef- fect the congressional elections will have upon husiness, brought from him the tollowing statement. “I see one interesting issue in the congressional elections, namely, the number of new radical members sent to congreas. Those of us in the east do not understand the viewpoint of oru western people, hence few are awake to the great change which is coming about in our political lineup, Throughout the present generation, the contest hag been between the re- publicans and democrats. The days of this alignment, however, ara number- ed. Both of the old parties have suf- fered extensive changes. At least by 1928, and perhaps in 1924, a real con- test may be waged between the so- called conservatives on the one side and the so-called rallicals on the oth- er, “By ‘radical’ I do not refer to the I. W. W.'s or any group commonly known as bolshevists,. The new rad- ical party will be more like the Bull Moose party of 1916, The conserva- tive group will represent a combina- tion of both republicans and demo- crats who are opposed to the extreme measures of the other group. The elections will serve to show to what cxtent this new alignment is taking shape. “As to the Immediate effects of the elections they should not be important unless the republican majority in con- gresd should be overthrown. I do not, however, expect such an eyent. “After all,” continued Mr. Babson, “most of us business men worry a great deal more ever politics than we should. Everybody today is looking to Washington for a present. ' Nine tenths of all the important bills be- fore congress this year were designed to help some one group-——usually at the expense of the others. Farmer and labor demands, rallroad financ- ing, state roads, soldiers’ bonus and the tariff fight are a few examples. This stampede. to the government for assistance is one of the pestilences which always follow a war.. The same mania developed after the Civil War. From 1865 to 1870 bankers and busi- nees men spent more energy lobby- Ing In congress than developing their own business. The government must mix Into bhusiness in war time; it is hard to get out of it after the war is over, Eventually people will realize that you can't take out of the govern- ment more than you put into it, For the present, however, the situation presents a serlous danger-—not to those who fall to get asslstance, but to those who succeed! “Any growth founded upon so fickle a hasis as government favor must be precarious, The industries and the individual companies which are real- ly good investments will be able to fight thelr way through without hav- ing to depend upon exorbitant tar- ifts or government capital. They may have hard sledding for a while, but when the depression is over they wil control the fleld. While others are ‘building up influence at Washington, they are bullding organizations at home. At the time it may seem as if the concerns which get the most pro- tection or assistance from Washing- ton are the winners, but their advan- tage is only temporary. Instead of trying to pick the companies which get the most assistance from the gov- ernment, investors should look for the companies which can get along with the least! “This factor marks a sharp distine- tionetween the raliroads today. Un- der tNe Esch-Cummings lJaw the roads have the privilege of calling upon the government for assistance in their fi- nancing, Many investors have looked upon this as a favorable argument. You will notice, however, that the railroads which stand best on the quo- tation board have very few ‘govern- ment obligations’ in their balance sheets. The only kind of a keg to put your money into is oné that will stand on its own bottom. Perhaps the others will come out all right, but the railroads in which I am interested are now adopting efficient business meth- ods instead of depending upon gov- ernment aid. In choosing railroad se- curities, my advice is to let someone else speculate as to what the govern- ment will or won't do. “The same applies to industrial se- NEW BRITAIN DAILY HERALD, SATURDAY, NOVEMBER 4, 1922, curities, At the moment every one is much exerclsed over the new tariff rates, Bome Industries have secured greater protection than others, In the long run, however, the business which receives the greatest tariff protection may not be the best investment. If its operating costs and everhead charges are increased on no safer basis than legialation, it is not a business in which to risk your money. Business concerns, lke Individuals, get their strength from fighting thelr own bat. tles. Too much protection is far more dangerous than too little, “Remember that congress is govern- ed by the law of action and reaction, At present, legislation ‘is running to- ward government subsidies and sup- port. The further this movement goes however, the more drastic will he the subsequent reaction, The more con- gress does for individual husiness Interests today, the more some other congress will take away from these iInterests later! Hence, when looking for an industry in which to Invest your money, pick the one which will have least to fear from the ca- price of politics. Legislation may give a temporary boost to securities, but the long swing upward must be based upon something more substantial, “Any concern which is prospering mainly by the grace of congress-is an unsafe risk. The wisest concerns to- day are devoting their energy to bullding up their own organizations!" The business index this week drop- ped off a point. It now stands at about 5 per cent below normal, INVITED. TO BANQUET. Members of the Business and Pro- fessional Women's club, the Lions' clubs and Rotary clubs, as well as the ‘American Soclety of Mechanical En- gineers, which is affiliated with the Chamber of Commerce, have been gent special invitations to attend the an- nual banquet of the Chamber of Com- merce to be held next Wednesday eve- ning in the old St. ‘Mark's church. The ticket committee consists of B. w. Pelton, J. R. Andrews, M. D. Saxe and B, 8. Lewis, with W. H. Ratten- bury as chairman. The Tempo quar- tet of Hartford has been engaged to furnish music, e The Herald has placed many a used article at a reasonable price into the hands of its classified readers. : What Happens If You Die ‘Without Leaving a Will? | If You Die Intestate, your property will be divided according to the law. of the State, and an ‘administrator willbe appointed by the court to handle the Estate. The Disadvantages Are These:-- 1. You do not know who will be appointed as administrator. 2. Laws of distribution apply Generally to all cases, not to any particular case. 3. 4. They may not suit your wishes and desires. Your property may be distributed to par- “ties you did not wish to reward. 5. May impose hardships on those you cherish. The Safe Course Is to Make Your Will and Name Us Executor of Your Estate. Think This Over Then Talk With Our Trust Officers BRITISH POLITIC IN'GREAT MUDDLE Lloyd George and Labor Faction Are Problematical Issues dondon, Nov, 4 (By the Associated Press)—All, nominations for seats In the British parllament must be in the hands of responsible officlals by noon today. At breakfast time this morning everyone was still wondering if Lloyd George was really golng to release his host of reserves and by eleventh hour nominations finally fulfill his threat to spread the war against the conservatives who overthrew him. So far 1,870 candidates have been nom- inated and of these only 170 are list- ed as national liberals under the ban- ner of Lloyd George, while the con- servatives, generally called unionists have 465 in the field. The laborites are next with 410 and the indepen- dent liberals led by former Minister Asquith have 325 candidates on their slate, « Political gossips in the morning papers are almost unanimous in as- serting the Lloyd George resolved last night to turn loose his reserves and put up additional candidates this morning, notwithstanding earlier in- dications that such a project had been abandoned. Unless these political writers are all off the track the lit- tle Welshman will put up about 80 new men, bringing his total of candl- dates around the 270 mark. In this matter Lloyd Georje is sald by the gossips to have reliictantly yielded to strong pressure f.om his followers and he had in<l about determined not to spread the war. Big Question of Day. What Lloyd George is going to do or is not going to do cannot be, said to be an all engrossing topic in politi- cal ranks today. For the moment the topic of greatest consideration is the welding together of the liberal groups of Manchester, where the national and independent liberals decided last night to abandon their mutusl op- position and stand together as united liberals against the candidates of the other parties. 3 A similar unfon between divergent liberal groups in many other TLan- cashire constituenclies was effected overnight, according to the leading organ of the independent liberals the Daily News which predicts that a greater part of the country will sure- ly follow Manchester's lead. In the past Manchester's liberalism has often “had an important influence on British politics, the Manchester school being the standard name for a famillar brand of politics with ad- vanced liberalism. The joining of the liberal elements there was on a basis of manifesto issued by Manchester Hberal federation on October 24 the Daily News reported. 'That declara- tion set forth a program which in- cluded- wholehearted support of the league of nations and the pivot of the party's international pelicy unquali- fled and uncompromising endorsement of free trade, reduction of taxation, reform of the electoral system and abolition of the hereditary principle of accessién to the house of lords. Labor_ Makes Demand. The labor party has lost no time in denying the report jn the Times that labor speakers have been instructed to make it clear that the capital levy was merely a suggestion and not a formal proposal by the party. The laborite secretary, informed the Times that no such instruction had been given and that the capital levy still stands as the party's official policy. ‘The proposed levy is a warm topic of political consideration which is being given great interest throughout the country. Almost everyone of the labor can- didates has an opponent to contend wigh. In 190 constitutencies liberals and laborites are fighting one another vigorously, with the unionists stand- ing by to take advantage of this split in the progressive vote. In a similar way the conservatives and coalition liberals are fighting one an- other in wholesale fashion. At pres- ent it is anticipated that only 61 can- didates would be returned unopposed. e A Private Hospital and Convalescent Home Opened at 130 Church street, Mid- dletown, Conn. Graduate nurses in attendance. A r('cmr‘wul be made of special diets. ] Instruction in ORGAN THEORY SONG COACH Theron Wolcott Hart Studio: 14 Prospect Street Tel, 2581. At the Burritt Sa.vings Bank made, will draw interest as of the 1st of November. that Savings Account. One Dollar will open an Account. WALL STREET STOCK EXCHANGE REPORTS Wall street-—Selling orders largely predominated in today's stock market with heaviness displayed by equip- ments, ofls, motors, steeds and tobac- cos which declined 1 to 4 points, Mex- fcan Pet. showing the largest loss. Ad- vantage was taken of the bidding up of the coppers to unload other stocks and A large volume of profit taking sales and some short selling followed. Subsequent short. covering together with a rise in Standard Oil shares fur- ther accumulation of coppers and a fair demand for some of the special- ties, notably May Dept. Btores which went to a new high, resulted in some (Successors to Stanley I. Eddy, Manager PRICE ON mated 500,000 shares. & Company. High 38% % Am Bt Bugar .. Am Can .... Am Cotton Ofl Am Loco Am 8mt & Ret . 59% Am Sug Ref com 76% Am Sumatra Tob 33% Am Tel & Tel ..125 Am Tob .......166 Am Wool . 8% Ana Copper .... b1 Atch Top & 8 F 104% At Guit & W I 28% Bald Loco . Balt & Ohlo . Beth St1 B . Can Pacific . Cen Leath Co Ches & Ohlo ... T6% Chi, Mil & St Pl 380% ChiRock 1sl & P 41 Chile Copper ... 27% Chino Copper 26% Con Gas Corn Prod Ret .130% Crucible Steel .. 78 Cuba Cane Sugar 18% Endicott-John .. Erie Gen Electric .. Gen Motors .... Goodrick BF . Gt North pfd ..'9 Insp Copper ... Inter €on Inter Con pfd .. Int Mer Mar pfd Allis-Chalmers Pacific Ofl . Int Nickel .. Int Paper .. . Kelly Spg Tr .. Ken Copper Lehigh Valley . Mex Pet ... Medvale Steel .. 82% Missouri Pac ... 19% N Y Central .. 99 NYNH&H.. 30 Norfojk & W ..120% North Pacific .. 86% Pure Ofl 9% Pan Am P & T . 00% Penn R. R. 48y Pierce Arrow ... 12§ Ray Con Cop ... 13% Reading . . 82% RepI & S . . B0% Royal D,N. Y. .. 56 Sinelair Ofl Ref 38 South Pacific .. 98% South Ralil 256% Studebaker Co ..129% Texas Co . . 48% Tex & Pacific .. 26% Trans Ofl 14% Union Pacifie ..147% United Fruit ...156 United. Re St .. 82% U 8 Food Prod . 6% U 8 Indus Al ... 68% U 8 Rub Co .. 63 U 8 Bteel 1078 U 8 Steel pfd ..120 Utah Copper ... 85% Willys Overland 6y Middle States Oil 128 Westinghouse. .. 61% Aétna Life Ins. Co ... Am Hardware Am_Hosiery .... Billings & Spencer com Bristol Brass Colt's Arms . . Conn Lt & Pow pfd. Eagle Lock Fafnit Bearing Co Hart & Cooley .. Hfd Flec Light . Landers, ¥ & C .. J. ‘B. Montgomery pfd N. B. Gas N B Machine .... N B Machine ptd Niles-Be-Pond com . North and Judd Peck, Stow & Wil Russell Mfg Co .. Southern N E Tel Standard Screw Stanley Works ... Stanley Works pfd . Torrington Co com . Traut & Hine . Traglers Ins. Co . Union Mtg. Co. U. 8. Treasury—Balance, Today and Tonight, all deposits Come in tonight and start others who are Savmg Regularly. ' We Are Open Every Saturday .Evening for Your Convenience — 7 to 9 Join the Hundreds of Bige-Hfd Cpt Co com Low 29 4054 26% 28% 137% 129% % Wy 170% 144 91% 35% % 0% 1% 45% 16% 58% 1% 34 31% 19% 98% 295 29% 88% 12% 52% 508g 32% 92% 128 48 14% 146% 106% 847% 6 12 6015 (Putnam & Co.) B id Billings & Spencer pfd 2 b & 67 55 110 170 . 58 J. R. Montgomery com 93 108 pAESAEERORRIAT Y $405,41 recovery in the final dealings, ' The closing was irregular. Sales approxi- Quotations furnished by Putnam Close 4% 24% 128 59% 76 1243% 165% 98% 50% 108% 28% 132% 51% 0% 145% 6% 29 40% 2% 26% 138 129% JUDD 1% oo 5% | 107 6514 NEW BRITAIN New Britain Natioual Bank Bldg. Telephone 3580 Members Hartford 8tock Exchange Doosld R. Hart PUTNAM & CO. Members New York Stock Exchange Members Rartford Stock Exchange Y. Richter & Co.) 81 West Main 6t, Tel. 3040 50 Russell Mfg. Co. APPLICATION & CO. Members New York Stock Exchange MEMBERS HARTFORD STOCK EXCHANGE HARTFORD: Hartford-Conn. Trust Bldg., Tel. 3-6339 Mad in St.. Telephone 181A. We Are Making a Close Market in the Stock of the | FARMERS’ LOAN AND TRUST CO. Hartford 10 Central Row Telephone 3-4141 Members . New York Stock Exchange We Offer 25 Shares AMERICAN HARDWARE Price on Application We do not accept margin accounts JOHN P. KEOGH AMember Consolidated Stock Exchange of New York Waterbury Danbury Middletown .STOCKS BONDS Direct Private Wire to New York and Boston G. F. GROFF, Mgr.—Room 509, N. B, NI.Q'I Bank Bldg.—Tel. 1018 The Hartford-Connectict 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 — Bank by mail. It is 614 12% 61% Asked 660 City Items Hear the November Victor Records. C. L. Pierce & Co.—Advt. The Improved Order of Red Men will hold an important meeting Mon- day night in Judd's hall, to make preparations to take part in the pa- rade Armistice Day. All members are urged to be present. Pull the second lever and give your Mayor a vote.—advt. . The common council committee on claims will meet at City hall Thurs- day evening of next week to hear the case of Mrs. Elizabeth S8eymour, who claims compensation for injuries sus- tained as the result of a fall on a sidewalk. ¥ Radlo sets and supplies at Morans' —advt, There will be a meeting of the Y. M. T. A, & B. drum corps Sunday morning at 10 o'clock. Gulbransen Player Planos, Morans —advt. . Pull the second lever and give your Mayor a vote.—advt, Did you get your Schrafft's Choco- lates at the Franklin Sq. Filiing Sta- tion.—advt. Headquarters for Flapper Coats at Besse-Lelands.—advt, Now is the time to have your photo taken for Christmas. Make an ap- pointment today. Johnson & Peterson Studio,—advt. Pull the second lever and give your Mayor a vote.—advt, ; See latest Victrola, console model with fiat top, $100.00.—C. L. Pierce Co.—advt. PROMISE FAIR TRIALS Greek Revolunionaries Pledge to U, S. That Accused Will Get Square Deal. Athens, Nov, 4. - (By Associated Press)—The revolutionary committee has officlally informed the United States government that the Greek political leaders who are under arrest will be given a fair trial. Col. Plastiras, leader of the revolu- tionists, called on Jefferson Caffery, America's charge d'affaires, yesterday and after thanking him for America’s generous relief work, said he wished to dispel doubts concerning court mar- tial of the various former civil and military leaders charged with respon- sibility for the defeat of Greek foroes in Asia Minor, He said the good opin- ion of the people of the United States was desired In everything affecting ithe revolution and the efforts of the Greeks to bring back to their country GENERAL BANKING. | safe and saves time. its previous property. % Notwithstanding reports to the cone _ trary, the revolutionary committes = wished America to know that they were determined that the politiclang now in prison would be given an im. partial trial and every opportunity to . defend themselves, Col. Plastiras saids Critics have been alleging that th government was resorting to the pere secution of political enemies. DANAHER TO SPEAK. Lawyer C. J. Danaher of Merided will be the republican speaker at's noon-day rally to be held at the face - tory gates at P. & F. Corbin Co. af. _ 12:30 o'clock on Monday. The address. . will be made at the Orchard stree§ . entrance to the plant. Savings Bank of New Britain Organized 1862 RESOURCES OVER $13,000,000 178 Main Street Deposits in this bank are receiving 41,9 Interest. - Interest begins the first of each month, ot Open 9 a.m. to 4 p. mu Saturdays 9a m tol2 m. Monday Evenings 73009