New Britain Herald Newspaper, November 18, 1922, Page 13

Wellesloy Hills, Mass, Nov, 18- Copper stocks have been showing more life of late and evidence a ten dency to act quite independent of the rest of the market, NRoger W, Hab. #son accounts for this change by call. ing attention to a shift in the condl. tions which control ‘the copper indus- try. “The copper stocks,¥ says Mr, Rah. son, “like any others are governed by a combination of the conditions in the security market and the factors that control the production and eonsump- tion of copper, “The Industry,” continues Mr, Bab- son, “is now in a hetter position than it has heen for the past four years, In other words, it has taken the industry practically this length of time to re- cover from the abnormal producing conditions and heavy stocks bullt up during the war years, Due to the continuance of heavy stocks which, at ~ tha high point in 1919, amounted to over one billton pounds, production has been radically curtailed, Prices Savings Bank of New Britain RESOURCES OVER $13,000,000 178 Main Street Deposits in this bark are receiving 41,9, Interest. Interest begins the first of each month. Open 9a. m. to4 p. m. Saturdays 9a.m tol2m. Monday Evenings 7:30 to 9 BABSON CONSIDERS COPPER STOCKS ARE GOOD ONES TO PURCHASE NOW have slumped from the war-time price of §8c for electrolytic copper to a low point of 12¢ redched about a year ago, The Industry has suffered in the present period of readjustment to a greater extent than probably any other important industry, “The fact that copper in its manu- factured forms has excellent wearing qualities has worked to the disad. vantage of the Industry during the past two or three years, For example, in the case of ammunition abroad, all of the shell was destroyed except the eopper cartridge. This, as you re- member, was used again and again and at the end of hostllities, large stocks of unused brass and copper cartridges went for industrial pur- poses; Reclaimed supplies are now groatly diminished go that the demand for new copper will gradually increase from. now on, “Production has heen gradually in- creasing since the first of the year. Production during the war years aver- ager well over 150 milllon pounds monthly. Compare this with an out- put during 1921 averaging under 25 milliopn pounds monthly. In fact, even exports last year were materially heavier than the total United States production. - Production at the present time 18 averaging about 85 million pounds monthly. Exports have tend- ed to ncrelase and are around 65 mil- lfon pounds each month. Domestic consumption is also Increasing so that the statistical position of the industry {s relatively strong. This dees not promise any radical come-back but rather that the worst is over and that the long pull outlook is much better than it has been for a number of years. This change will bring about hetter profits for the larger, low cost copper companies. “The produeing capacity of the in- dustry is still large so that any in- crease in price tends to stimulate pro- duction. Thig, in turn, causes' the market to weaken. The reason for the slump in most copper stocks around the first of November was clear enough. The rate of importa- tion from South America for a mat- ter of months has been increasing. Our southern neighbor can produge at low cost, much lower than domesfic companies a fact that has been hold- ing the dom;stlc price down. Thelr producing cpacity, however, is dis- tinetly imited and as demand in- creases they will no longer set the market, The price of electrolytic coppér has been fluctuating around 14c for a number of months, Demand during 1923 should tend to strengthen the market, although production will bé suffieiently large to supply this de- mand. In the event of a good build- ing year in 1928, the demand for cop- per will improve, Tt should total at least us much as this year, and con- siderably better than in 1921. The European demand will also be slight- ly better. Although there are still tion, the bullish factors in the situa- tion, the bullish features are of dom- save. We are Open Tonight From 7 to 9 o’clock to Make It Convenient for You to Paj' Up Any Back Payments on Your Xmas Club Savings. Checks will Be' Sent You Soon After the st of December, and We Urge You to Plan and Come in Tonight and ,v Finish Up. Please Notify Us of Any Change of Address So That Our Records Will Be Correct. inant importance, 1 am dis- Hence, tinetly optimistic for a gradual recov- ery in profits, ] “I am distinetly bullish,"” concludes Mr, Babson, “on the stocks of the large low-cost produeing companies," Genaral business continues is side- wise movement in spite of the recent election, The Index of the Babson. chart shows activity b par cent helow normal. Figures Indleate that car shortage 1s the largest in history, SHRINERS CELEBRATING Sphinx Temple of Hartford Holds Fall Ceromonial this Afternoon and Eve- ning at Middictown, Middletown, Nov, 18, - Shriners from far and near came here today for the pligrimage of Sphinx temple of Hartford with its fall ceretonial, Wenrers of the foz with the insignia of temples In New York, New Jersey, Massachusetts, Rhode Island and Maine joined with the members of Sphinx temple In the galeties of the occasion, Pyramid of Bridgeport, which has jurisdiction across the southern part of Connecticut sent sev- eral hundred of its members to enjoy the feast which its daughter temple had spread for the guests. Tt was the first time Middletown had welcomed the ‘Shriners, and with fair weather the occasion was of more than ordin- ary interest to the residents, The state armory was used for the ceremonial which will extend through- out the evening. Visiting patrols and Shriners were entertained at dinner at a number of places, no one place hav- ing ample accommodations for all, Negro Woman Pays $5.28 To Send Harding a Pig Marion, Ark,, Nov. 18.-—Declaration that no mystery was attached to the arrival of the Berkshire pig, shipped from Marion, at the White House yesterday was made by Emma Gard- ner, aged negro woman living near here. She said that President Hart- ing was expecting the arrival of the plg. “I'd been correspondin’ wid him ‘bout it" she told the express agent here when she pald §$5.28 charges on the animal several days ago. The pig was intended for the president’s Thanksgiving dinner she added. GRANGE CONVENTION Wichita, Ka., Nov. 18.—The pro- gram of the convention of the na- tional grange here today included a possibility of an official expression on the proposed merger of the Armour and the Morris packing companies to which T. C. Atkeson legal representa- tive of the grange, expressed opposi- tion yesterday. Officials intimated last night that resolutions would be presented at the executive sesion scheduled for tonight. It was made known yesterday that Pennsylvania and Maine are being considered for the 1923 convention. Are You Saving Regularly? Our New Leather Bound Book Banks will provide an excellent way to put away a little spare change every day or so and then when this is filled you can bring it in and deposit to your account. what the “Kiddies” like, too. account with $1.00 and we will loan you one of the Book Banks. “Kiddies” BURRITT SAVINGS BANK Cor. Church and Main Streets Oper; Saturday Evenings 7 to 9 It is just Start an Then watch the NEW BRITAIN DAILY HERALD SATURDAY, NOV'EMBER 18 1m DR, REEKS REPORTS ON HOSPITAL HONOR Tells Executve Committe of $ig- nal Recognition by A. C. of §.” Dr, T, Ehan Reeks, manager of the local hospital, informed the executive committee at a meeting late yesterday afternoon that the institution had been unconditionally rated by the American College of Surgeans, being the only hospital under 100 beds in the State of Conneeticut that had been glven recognition, The rating of hospitals.by the Col- lege of Surgeons I8 given only after several officlal visits and thorough in- vestigation by Yepresentatives of the college. These investigations Include an examination of scientific apparatus, physical records, intérneship service, staff rules and regulations and food service, Dr. Reeks stated that the hospital had been examined by the college some five or six times during the past two years and that the hos- pital board could rest assured that the rating was given only after the in- stitution had met the exacting require- ments laid down by the American College of Surgeons. The executive committee was told that the staff of physicians and surgeons was’ highly pleasing. Part of the credit, he said, rested upon the activity of the staff during the past year, Deficit of $2.623.53. Dr. Reeks pointed out to the ex- ecutive committee that the expendi- tures over the receipts for the month of October left a deficit of $2,628.53. | He further stated that the expenses for November and December would he still higher owing to the painting and extensive necessary repairs being| made to all the roofs of the buildings| which have not been touched for| several years. These repairs and paln(lng will total apvroxlmulely $5,- | 000, | Another matter touched upon at the meeting was the apparent belief on the part of so many of the people in the city, that the income from the Mil- ler estate was sufficlent to meet the| financial requirements of the institu- tion, Many usually well-informed cit- | izens are of the opinion that the in- come from the Miller bequest amount- ed to about $100,000 a year. As a matter of fact, as the treasurer’s re- port will show at the annual meeting :ac!lw issues moved to higher ground, i Cola, Obstetrica! Patients Births Total ..., i ‘p(‘lld“lll'(’)i Mnr 0( ol Admjaistration expenses. .. § 670,00 Profes'nal care of patients 8,074,87 Training school dept, . Nurses home ,.,,. Housekeeping dept, Kitehen dept. Provislons Laundry dept. ....... "$05, 06 xGeneral house and properly OXDONBO v ivviviiiy vee, 1,076,090 General material account, 78.07 Total ...... XThis inclum‘l repllr clty, ete, Receipts and Disbursements The receipts for the past month were $8,089.93 as against $6,040.068 for the month of October last ycar, The recelpts from the various depart- ments, together with the income dur- ing the same month last year, were: ‘Ward patienth, $685.561, $936.1 private patients, $1,233.80; $038; pri- vate ward patients, $3,962.08, $2,416,. 89; X-ray, $539, $546.50; operating rooms, §$06, $225; nurses board, labo- ratory .sales, etc., $1,274.97, $993.11, Totals—$8,030.983, $6.049.68, The expenditures with those of last year are itemized by departments as tollows: Current expenses, $5,612.46, $6,847.- 04; corporation expenses, $416.67, $422.67; ealaries and wages, $4,734.33, $4,608.38. Total, $10,663.46, $11,868.- 09, The per capita cost per day during the last month was $4.43 and during the month of October, 1021, $5.99, Eighty-one employes were at the hos- pital last month which is six more than in 1921 and there are seven more nurses in training, 27 now be- ing in the nurses school. WALL STREET STOCK EXCHANGE REPORTS Wall Street.—Liquidation of specu- lative accounts and short selling . in some quarters coincident with ab- sorption and short covering in others gave the stock market a spotty ap- pearance in today's dull and {rregu- lar dealings. Generally the more gas, clectri- moderate strength developing in most of the steels, shippings, oils, Coca American Tobacco A and B, Continental Can, Davison Chem., Public Service of New Jersey, People's Gas and Burns Bros. A. Conspicuous weak spots were Consolidated Gas and | @homsan, Tfem & Co. PUTNAM & CO. Members New York Stock Fxchange Members Hartford Stock Exchange (Successors to Richter & Co.) Stanley .. Eddy, Mauager 81 West Main 8¢, Tel, 2048 WE OFFER— 50 SHARES : LANDERS, FRARY & CLARK Members New York Stock Exchange R MEMBERS HARTFORD STOCK EXCHANGE HARTFORD: Hartford-Conn. Trust Bldg. ‘fel. 3-6329 NEW BRITAIN; 23 West Main St.. Telephone 1818, We Offer:— 50 Shares AMERICAN HARDWARE 50 Shares STANLEY WORKS, Common 100 Shares STANLEY WORKS, preferred NEW BRITAIN Hartford New Britain Natioual Bank Bldg. 10 Central Row Telephone 2580 Telephone 2-4141 Members Members Hartford 8tock Exchange New York Btock Exchange Donald R. Hart, Mgr, . We Offer:— IMPORTERS & TRADERS’ NATIONAL BANK Price On Application We do not accept margin accounts to be held in about two weeks, the income from the Miller money ap- proximated «$39,000 during the pas!l fiscal year. Bemusp of this prevailing | ing was irregular. bellef many citizens who in formorlmatéd 825,000 shares. years were in the habit of making do-| natlons of cash, food or clothing, etc., | feel that it is no longer necassnry.},\m Bt Sugar .. 36 N Consequently no such-donations are today received, and because the in- come from the Miller money is not sufficlent to meet the deficit en-| countered each month, the hospital is having ‘difficulty to develop profes- sionally as fast as it desires to meet the needs of the community, Dr. Reeks said. It is the earnest wish of the ex-| ecutive committee that the public shall realize that the income received | from patients is approximately only two-thirds of the amount necessary to maintain the hospital, and that the income from all bequests and appro- priations is not sufficient to meet the! necessary expenses to malintain u: first-class hospital, Statistical Report. The following report for the month of October, was presented: Patlents at beginning of month Patients received during month 153 Patiénts discharged during month 167 Patients at end of month...: ital days treatment ... Patients daily average .. Accidents 76| Compensations Admmed PR 4, Ambulance Cases ...... 18 Clty cases ........cooivney 1| Out Patient Departmmt.. Dressings ... een « 18 Laboratory .... . 4 Out Patients—X- Ray <721 Repetitions—X-Ray 1 New Patlents .... ceve 68 Total vvevvviivininiiiies. 94 In Patient X-Ray Drpurlmmt. Private Room . B 2| Private Ward . i 38| Ward .o.oaieeien oo 17 Total ...... vesevees B4 Number of Dcnthfl . PR Still Birth veees 1 Private Rooms o 18 Private Wards . o114 Words ....... 20‘ Total «\... f o 162 Surgical annm . 84| Medical Patients . 16 \ | 1shnau-a Horew ...v...286 Harvester, each off 8 points, Pierce Arrow pfd. oft 4. and The clos- Sales approxi- JOHN P. Member Consolidated Stock Exchange of New York KEOGH ~ Quotations furnished bv Putnam & Company. l‘;’::;:;‘;;r’ STOCKS NB:; 36 36 4 T Am Can .......71% 11 1% |} Middletown BONDS Spri Am Car & ¥dy.179 179 179 Am Tioco ...... 123 122% 123% Ditecy:Feivats Wire tn New Tork sne £ oui Am Smit & Ref. 53% 68 53% G. F. GROFF, Mgr.—Room 309, N. B. Nat'l Bank Bldg.—Tel. 1018 : Am Sg Ref cm. 87% 66% 66 . o Am Tel & Tel..123 122 123 —_— Am Tob .......149% 148% 149% Am Wool . 93% 93 933 Anaconda Cop . 48 47% 47% . v & |aen o & 8oy 00 1005 | N The - Hartford-Connecticut Trust Company t Gul , . H 2 . ! [Paldwin Loco . 335 138% 438 Corner Main and Pear] Streets, Hartford, Conn. . a 3 | K Beth Steel B .. 66% 64% 65 Capital $2,000,000.00. Surplus Funds $2,000,000.00 Pl Sl T i Safe Deposxt Boxes, $5.00 and upwards. Shes & Ohlo .. 697 688 68% Settlement of Estates. At b B D Foreign Exchange to all parts of the world. Chino Copper .. 20% 23% 21% LETTERS OF CREDIT — GENERAL BANKING onsol Gas ....1243% 121Y% 122% 2 3 3 s e S B e B Bank by mail. It is safe and saves time. Crucible Steel . 6514 63% 85 Cuba Cane Sug . 123 12 12 Endicott-John . 86% 86% 86% Hrie: (v, 11 10% 11 Erle 18t ptd ... 17 17 e {Gen Electric ..176 176 176 | Gen Motors 4% 143% 14% | Goodrick BF .. 31 31 L ! Gt North pfoe .. 87% 86% 863 | Interboro Con % 3% % | g Int Mer Marine. 123 123 1214 k5 Int Mer Mar pf. 30%°* 403 50% Allis-Chal ... 41314 413% 413 Pacific Oil ..... 46% 456% 46 « Int Paper oo 81 b1 b1 Kel Spg Tire ... 41% 41% 41% Kenn Cop ..... 82 3% 32 Lehigh Valley .. 63% 63% 631 Mex Pet .... 214% 212% 2121 : Midvale Steel .. 28% 281 281 Miss Pac ...... 17 168 17 N Y Cen 941 04 941 NYNHG&H.. 28% 22% 23 Nor & West ....116% 116% 116% 3 North Pac 80% 803 80 3% Pure Oll 21% 2% 2T ¥ PanAm P &T.. 85% 8614 85 3% Penn R R 47 48% 4T Pierce Arrow 11 101 10% | Pitts Coal 65% b5 55% | Ray Con Cop .. 12% 12% 12% 3 Rep I & 8 .... 47% 47% 41% Royal D, N Y .. B4% 58% 5314 8in Ofl Ref .... 32 318% 32 South Pac . 903 9014 003 | South Rail .%o A% 3% Sthde Co . 124% 123% 124% | g A ;f"; e These holes were made in this Bethlehem steel armor Tob Prod ...... 78% 781 78y | by the newest type of 14-inch guns just tested by the Trans Oll .18 1% 1% | States army at Aberdeen (Md.) proving.grounds. The pm 3;‘:?:(; l;gc % m' 148 mw used weighs 1560 pounds and could pass over the highest moun- nited Frult ...158% 16315 158 United eRBt .. 70% 60 0% tain peak on the way to its target. v :_: : :.:::‘ f,:zce ! ::\ :::6 22:; Stanley Works 681 59 [on Wednesday while this coming seae! v 'fi ‘qmfl‘ > -1'\4’”: ‘le 104% Stanley Works pfd 281 291 [son it will fall on Tuesday. Steel ..... y Y 4 4 M AR S g T Al e ey Utah Cop ... 611 613 [ 1O A 16 44 (Putnam & C;"fd Asked| U Treasury—Balance, $363,688,252, Bottom Is Reached, According to: :»tn;llue Ins Co ..\.638 680 SEASEN“EPENS LATER Department of Agriculturo—40 to m Hardware 208 213 Am Hosiery . 75 50 Cents a Bushel in East. : Bige-Hfd Cpt Co com .120 122 Tt ) b h ‘Washington, Nov. 18—Prices of . g;:::nxfi f :nvn "‘;',;' . 2:% Major Leagues Will Not Get Into Ac- ,,,,.J:e, ,‘m-e reached the bottom, ngs & 8pen p 2 & ot ¢ . y p according to tha department of agri- E:::!:)Air:ss ....... _2 tion Next Year Until April 27, a culture, averaging only 20 to 80 Ghtia Lo o 7% | Week Later Than Usual. cents a bushel to growers, in the Conn 'L . w P 1 west and ranging from 40 to 50 cents ‘:slfl Loc poe 72 Chicago, Nov. 18. — Major Ieague|a bushel at eastern shipping M Fafnir Bearing Co 65 | baseball fans will probably have to|Seme western farmers are Hart ‘& Cooley .,.. .. | wait a week longer than usual to see|potatoes away to anyone who wm H{d Fieo Light . 178 | {heir favorites at play next season, as|them and others, according to Landers, ¥ 61 Inotices were sent out today by Presi-| partment. ‘will let their potal J. R. Montgomery com-—- 100 ) dent Ban Johnson of the American|main undug. J. R. Montgomers pfd 106 —— |jeague and President Heydler of the NBGas ....... 86 | National league that the season will N B Machine . 3% 4% | get under way April 17, N B Machine pfd . 38 41 This action was taken, it 1s sald at Niles-Be-Pond com . 56 69 |the request of the club owners who North & Judd 4....... 50 53 | hoped to avold bad weather and bene- Peck, Stow & Wil .... 82 34 fit their clubs by a week's additional Rusell Mfg Co . 95 |training. The season will, according Seoville Nfg Co 880 |to the notlces, therefore close October Southern N B Tel ....127 129 |7 or 8 instéad of October 1. The in- augural date in past years has been