New Britain Herald Newspaper, December 2, 1922, Page 13

i ” " NEW BRITAIN DAILY HERALD, SNTURDAY, DECEMBER 2, 1922, “Then comes the next act in:+the his I8 partly because the stock mar- drama of depression, As the logical [ ket discounts the successive steps In result of curtalled manufhcturing, we |business royival, © But a more import. get a slump In_the raw materials|ant reason is that the tradink corpo- group, When a shoe factory shutsjratfons, so-€alled; with their immense down, orders for leather shrink; When | national ramifications tend to part a textile mill closes, demand for cot- |company with the smaller individual ton and wool dies ddwn, Bo this ini- retafler and move more In harmony tial weakness In the northeast spreads|with the other groups, \ to the west anfl the south, The woest “If you are a retaller, don't get dis- and the south are the home of the|couraged If your sales scem to lag raw materials group. ¢ |behind general buginess, This s “As traffic in finished goods and|merely. the working out of. economic raw materials subsides, there is les-|laws. Your turn will gome-—and he sened activity for the transportation|who .laughs last sometimes laughs group, The rallroads fall into line on|best. If you are an investor, I sug- the downward march, " gest that the bull market—so far as “The tragedy closes with the last|the long swing is concerned—will not act, namely the downfall of the dis-|finally culminate unti] improvement tributing group, numbering the great|ls general. Improvement cannot’ be mass of rotaflers scattered through-[general until shared' bythe millions out the entire country who are caught |of big and little retailers in cities and with high cost goods. The economic |cross-roads throughout the entire na- curtain fall§ on a Jand sunk in almost | tion, BUSINESS REVIVAL IS NOT GENERAL, ACCORDING TO ROGER BABSON'S TALK Wellesley Hills, Dec. 2,~~Roger 'W. Babson today called attention. to a very important fact in discussirg the general industrial revival, “Depressions hit the country very much like storms,” says Mr. Babson, “and ‘just as they affect different lo- calities of the country in regular se- quence they also affect the different divisions of our business world in dif- ferent degroes and at different times, ‘“T'he tact that a dgpression ordinar- 11y starts in the northeast works south and west, finishing its. course in Cali- forpia, is clearly. evidont from a sta- tstical study of the situation, If we look at the business world we find it dividing itselt into four big dlvisions manufacturing group with its auto, moblle factories, textile mills and the other fabricators of finished products. Ifourth and finally thero is the distri- bution group headed by the wholesale houses, mail order firms, chain stores and finishing with the ‘multitude of retall establishments, “Now what happens to these big four groups when a busincss depres- sion hits the country? The first to suffer {s the manufacturing group. This is partly the result of financial stringency, Take the recent depres- slon it appeared first among shoe factories, textlle mills, and other fac- tories. In a broad way these are con- contrated in the northeast section of ing the recent reaction. ately higher. High grade was Cuba, Cane Sugar 14 ‘Andicott Johnson 90% Erfe . . i diee J00 Edward Restella, 132 Rockwell ave- nue; Waclaw Darkoski 91 Booth street; John DeLoreénze, 131 Winthrop e street; Gottlieb Schmelter, 44 Bond g"“" }:; 'Y‘,{fl “1;;% ji street; Adam Zi , 550 en Blectrie: . s Church | Gon Motors ... 18% street; street; Byron Turner, 242 Main Stephen Dobrynski, 350 Wash- ingtor Willlam Ralph, 97 ‘Whiting street; Wesiey ;A. Martin, 31 Maple street, Plainville; Everett G. Casey, 80 Dwight street; Theodore Griswold, 75 XFrancis street; George J. Weir Jr,, 287 Brook street; Adolph G. Olson, 53 Carlton street; Walter N. Horton, 242 Main street; James W. McCabe, 62 Trinity street; Arthur Tancred, 204 North Burritt street. The recruiting ofticer will be at the state armory on Arch street this eve- ning to answer questions relative toy the new company. The quota for federal recognition has been increased to 40 men and the time extended one week in order to secure men without North Pacific .. 78% transferring fi es... | Pure -Oil £ i ! g from other companie Ban X B e m (Not Registered, Due Jan. 1, 1923) DELEGATEDBYCITY | rimeses | Reading ... Gr. Northern pfd 84 Inspiration Cop 385% Interboro Con pfd % Int Mer Mar pfd 49% Allis Chalmers.. 43% Pacific Oil 41Y% Int Nickel . 15 Int Paper 54% Ky Spgd Tr ... 43% Ken Copper 35 Lehigh Valley 648 | Mex Pet .. 8 Midvale Steel 20% Missouri Pac . 1% N Y Central ... 97% NYNH&H. 22% Nor & West ...113% ‘War Savings " Certificate Stamps Cadwell and Loomis to Attend Na-|Rep I & 8 ..... Royal D, N Y".. i ; : it tional Rivers and Harbors Con-|ginclair Oil Ref ; Will be accepted at Face Value NOW for deposit in our fress At Washington, D. C. S abine i Studebaker. Co .123% William H. Cadwell and John C. o 4TH Loomis have been delegated by Mayor A. M. Paonessa to represent the city at the natiomal congress on rivers / and harbors,-at Washington, D."C. ' next Wednesday and Thursday. Texas Co .... Tex & Pac . Tob. Products Trah Ol .4 Union Pacific ...141% Savings Department. The congress will go into the ques- | United Fruit -...156% 154 p tion of deeper wateriays and better |United Rt St .. 7T1% -70% \ harbors, discussing water transporta-|U S Indus Alco . 62% . 62% y tion problems in general, As explained | U'8 Rubber Co . 52% 61% W in a letter received by the mayor, the|U § Steel ......1085% 102% purpose of the gathering is to pro-|U 8 Steel pM ..121% 121% ! mote a policy rather than a project.|Utah Copper ... 63% 63% ' i Willys-Overland . 5% 5% WANAMAKER UNCHANGED. National Lead ..115% 115% : ’ : Mid States Oil . 12% 123 ] Philadelphia, Dec. 2.—No percepti- 4 : ! Ble change took ‘place ", dufing. the |V cauABBouse &, 60% . 60% night in the condition of John Wana- maker, merchant and former . post- (Putnam & Co.) Having the prefix letters A, B, C, D, E and F, will not draw [J moser scoersi wmo s b euney | o e 1me co ol v by his physicians'today said. 0 gty ok interest after Dec. 15, 1922 even though they have another (/" " T | A Hom Ry i o 135 Billings & Spen com, . Billings & Spen pfd .. Bristol Brass . 24% ’ coupon attached. These bonds will be accepted at par value, m’s’ T 112 170 L 64% 105 33 3% 35 53 50 32 Colt's/ Arms’ . NOW for deposit in our Savings Department. Tho Natoceopamic Physican ana |2 K G, PO N g | : 3 Chiropractor, 252 Main, cor. { Fafnir Bearing Co . . 68 5 West Main. Tel. 765 { Nature's failure to runction is the result of disease. Natureopathic treatments assisted by the ultra and other forms of the violet rays, togeth- er with the latest electric treatments will restore this function and build to the greatest possibles degree the nerv- ous physical and mental powers. Afny man, woman or child suffering from nervous conditions, persistent coughs, colds, chest and lung diseases, skin diseases, stomach troubles, neuritis, {Bclatica or any form of rhtushatism, ipains in the back or back of neck, poor circulation and weak heart or for any who have failed to find re- llef regardiess of what ailments, this ad contains a message of tremendous infportance. Office Hours—9 A. M. to 8 P. M. Hart &. Cooley Hfd Elec Light Landers F. ..... J. R. Montgomery Co J. R. Montgomery pfd. N B Gas .. N B Machine N B Machine pfd Niles-Be-Pond com' . North and Judd Peck, Stow & Wil Russell Mfg Co. . Scovill Mfg Co South N E Tel Standard Screw . Stanley Works ... Stanley Works pfd Torrington Co com Traut & Hine . Travelers Ins Co Unlon Mfg Co L) i | New Britain National Bank _ The Only National Bank in New Britain. THIS YEAR Join the Xmas Club at The New Britain Trust Co. - : Our Club Starts Tonight and Will Run for 50 Weeks. See That You Have ' a Trust Co. Check Coming to You Next Year at Xmas. 41 Open Tonight 7 to 9 o’clock: WALL STREET STOCK EXCHANGE REPORTS Stock prices continued their move to higher ground in today's market In further consequence of the over ex- tended short. position developed dur- Some ex- ceptional gains were made by a num- ber of speclalties, but representative shares as a rule moved only moder- raflrond shargs were bought freely and there n increased volume of specula- tive spots in industrials. Weakness in International Harvester which" drop- pe. 9 points failéd to unbettle the rest of the list although a few other weak spots developed from ' profit taking. Woolworth was depressed 4 points and and we find that the business depres- [ the country, and it was exactly in this{universal depression, «®enoral bysinesy®is holding. its re-| A ::xn tracea its regular course through |region that troudle first. appeared.| “We have just seen all‘this enacted | ent Ampgovement., The index of the ] l'h".' Body: three, . Bome °‘Au"’r;’“" 18 industrial fabric. This was entirely characteristic. It 18| before our eyes. With this sequence | Babsonéhart'showh general activity standing - galus included = Ame ,l““" First, there is the raw materials | what happened also in earlier periods|of evonts.still fresh in memory, a|®bout 3 per cent below normal— the Snuff up 10; All-Amerlean cables 7%, group, or iron and steel companies, |of business depression. Farsighted | pusiness man is blind, indeed, who |8ame aslast week. Natlorial Cloak and Suit’ 6, United v coppers and olls, crop and lve stock | executives foresaw long in advance|cannot foresee the pageant of return- e Fruit 3% and Omaha and Studebaker «_producers. Second there is tho trans- | that this would be tho first part of |ing prosperity. Manufacturing activ- AL 4 each. The closing was . strong. portation group, the rallroads ahd|the country to weaken, hecause it 18|ty has med. The northeast 18 A Hales approximated 525,000 shares, ,, ®eam ships. Third, there is the|the home of the manufacturing ETOUP. | weil advanced on recovery. The south s | “Quotations turnlshed by FPutnam Sy | and to some extent the west are 100k- :mc‘;;:ns:’;r % A% 4% ing better as the raw materials group K gl L jghia 0% 0% begin to struggle to their feet. Car T YA 182 182 surplus has changed to car shortage— \ i (% 120% - 120% BRAKB RELINED reflecting and measuring the revival 2 m Smelt'& Ref 64% 54% h”: 4 s of the transportation group. SIX More Nmfi m Make 25« Am Sug Ref com 176 5% 15% with Raybestos “But the final stage is still before v Am' Sum Tob .. 28% 28% 28% & { us, We have yet to witness full re- Am Tel &® Tel 123% 123% . 123% We have inaugurated a mew Brake Service at [}/ sumntion among the great rafk and Required - Tonight Am Tob 166% 164, 164 our service statio: file of retailers who constitute the final : Am. Wool .... 06% 904% 96% n. A group of the’ big four, ‘and trading Anaconda Cop.. 49% 49 49 Brakes reflned and adjusted by experts. Why' Bt | e imt im| et n Te et e AR AR S M i 4 i ““Therefore, 1 esf - | First' Battallon, headquarters’ com- S » 3 fiak: ch::lncesiI when x?od brakes may save an acci- [ oiomont isnot vet general and that | pany, 160th intantey, whioh was or. | Baldwin Loco.. 118% 1174 117% ent and perhaps'a life. the best is yet to come, when all the! dered recruited here this week, up|Balt'& Ohlo.... &4% 437% = 44 big four groups shall participate in|is noon today. Bix more men were|Beth Steel B... 63% 6375 63% DO IT Now prosperity. Those who apprehend|needed, according to Lieutenant Cook, Canadian Pac ..142 1407% 141% that the bull movement in the stock|to make the' 25 requested by tonight,|Cen Leather Co 34% 4% 4% market 18 at an end, might well ques- [ and 15 additional men will be needed |Ches & Ohio 5. 67% 67 67% tion whether recovery can in any|to bring the company up to its re- Chi, Mil & 8t P 256% 26% 25% A G HAWKER sense be complete with the enormous| quired strength of 40. Chi Rock Isl & P 33% 33% 33% o o distributing group still to be heard| " Thoge who have enlisted to date|Chile Copper .. 27% 27% 21% from. are as follows: Chino Copper 25 24% 24% 52-54 ELM ST. “It is true, of course, that the|'\ Jouaph Buchlers, 96 Winter street;yCon Gas 121% 4 stocks of the so-called trading corpo-| william Bonato, 96 Winter street; Corn Pro 130% 129 129 ratiéns show o substantial'advance.|George H. Carter, 53 Cherry street; |Crucible Steel .. 65% ( Stanley T EddydManager - JUDD NEW BRITAIN 3 Telephone, 2580 ‘Members Hartford Stock Exchange Donal We Have An Active Market In We do not accept JOHN P. G. F. GROFF, dgr.—Room 509, Capital $2,000,000.00. Bank by mail. It is TUTTLE WILL FIGHT At Least Four Documents Are Likely ‘ to Be Introduced Into Court Action of Late New Haven Politician, New Haven, Dec. 2.—It was ex- pected today that when:the 'questions come up in probate court next Mou- day as to admission of a will made | by Dwight W. Tuttle, a former state | senator, lawyer and long active in republican politics, in his home town of East Haven.and in tHe state three wills will be before the court besides mention of a fourth one offered yes- terday. This last named document was made in 1882. The most recent one was dated June 7, 1922, a prior one October, 1921, and an earlier one Kebruary, 1920.% The contest, it is understood, revolves around the will of 1920 in which Tuttle's former sec- retary, Mrs. Cora D. Amos was to have two-thirds of the estate, the other third being left in trust for his widow. The names of former Senator Tut- tle and Mrs. Amos had previously been linked (because of certain al- leged real estate transactions and the conservator for Tuttle has a suit of $75,000 against Mrs. Amos pending because of these transaetions. AR MANY ARE ON TRIAL. 93 Clergymen and Laymen and 19 Women Accused in Moscow. Moscow, Dec. 2 (By Associated Press).—Trial of 98 clergymen and laymen'.and 19 women, who are charged with opposition to the gov- ernment's church treasure decree, has begun in Moscow district court. One of the women is the sister superior of a convent, The court is presided over by Chief "Judge Beck, who has heard testimony in similar cases. Two work- men are the judge's assistants. Among the accused is M. Stchepin, assistant minister of justice under the | ables as ordered by the decree. . Kerensky government. He is charged with' actfng as legal adviser to parishioners who endeavored to pre- veht the, confiscation of church “1}:‘: e other defendafits include 40 priests PUTNAM & Ct Members Hartford Stock Exchange Successors to Kichter & Co.) ‘ We Offer and Recommend Scovill Manufacturing Co. Members New York Stock Exchange MEMBERS HARTFORD STOCK EXCHANGE HARTFORD: Hartford-Conn. Trust Bldg., Tel. $-6320 - NEW BRITAIN; 23 West Main §t.. Telephone 1818, WE OFFER AND RECOMMEND T orrington Stock Thomson, Temn \d R. Hart, Mgr. . ] TORRINGTON * Prices on Application Waterbury STOCKS Bridgsport . Middietown - BONDS . - Springfel Direct Private Wire to New York and Boston The * Hartford-Connecticut Trust Company . Corner Main and Pearl Streets, Hartford, Conn. Surplus Funds $2,000,000.00 Safe Deposit Boxes, $5.00 Settlement of Estates. Foreign Exchange to all parts of the world. LETTERS OF CREDIT — 81 West Main St., Tel. 3040 & CO. Hartford 10 Contral Row Telephone' 3-4141 Members New York Stock Exchange e margin accounts . KEOGH Springfield N. B. Nat'l Bank Blig.—Tel. 1013 and upwards. GENERAL BANKING safe and saves time. POLITICAL “RED CROSS.” Communists to Raise Funds to Aldi - Needy Friends in Other Countries Moscow, Dec. 2 (By Assoclated Press).—Plans for an international poiltical *“Red Cross" to lend moral and materia} support to communist. . prisoners in the United States, Japan and other countries were announced® | by the third internationale today. It is proposed to raise funds openly for the publication of relief to needy communists in other lands. In the Czarist days such money was raised secretly, for the collection of funds for such purposes was them punishable by axile to Siberia. ==EZ_ Savings Bank of New Britain Organized 1862 RESOURCES OVER $13,000,000 178 Main Street . Deposits in this bank are receiving 414,00 Interest. Interest begins the first of each month. and several collegeé professors. SHANTUNG AGREEMENT. Peking, Dec. 2.—A communique is- sued here yesterday announcing that the Chinese commissioners had signed the Shantung agreemont between China and Japan,.said it had been “decided to transter the administra- tion'of Telng-Too OB Degember 10’ Open 9 a. m. to 4 p. m. Sa 9 a. m. to 12 m. Monday Evenings 730 to 9