New Britain Herald Newspaper, December 9, 1922, Page 13

HOLD DOWN PRICES AND RAISE UP BUSINESS IS FORD'S SUGGESTION From Babson Institute, exclusively to the Herald, locally. Wellesley Hills, Mass, Dee, 9, ~— Last'week while Henry Ford was vis- Iling the Babson Institute, he discuss- €d the business situation and pre- scribed a common sense dose for Am. erican business. This man whose dally income, runs into six figures, stated Plainly that all this money was incldental—a by-product. His remarks created so much Interest that, today, lie issued the following statement; “The trouble with most business men," sald Mr, Ford, “is the fact that they go Into business to make money ~—to make as much as they can, as quickly as they can. They have a hard time of it because they are try. Ing to get something that someone clse has. The principal is wrong and even it it weren't, it would be pretty bard because there are so many of they trying tos‘get’ that the competi- tion s terrific, “The man who will use his skill and constructive imagination to see how much he can give for a dollar instead of how little he can give for a dollar, 18 bound to succeed. I cannot under- stand why people don't see it, “What applies to an individual ap- plies also to the entire country. A nation grows as it serves, as its peo- ple give the most they can to others— whether in the form of labor, material or distribution, We are now in a per- fod when thia is very importaht. Buginess s daing its best to come back but we must encourage it in coming back by holding down prices, espe- clally prices of the raw materials which go into our manufactured pro- ducts. I.have in mind coal, f{ren, lumber, cement, bricks, ete. It is a great mistake for manufacturers to say that they do not care what they pay as long as all other manufactur- ers ‘must pay the same price, We do wrong in paying higher prices simply because we can pass it along to some- one else, “Most manufacturers,” ¢ontinued Mr. Ford, “begin at the wrong end. They ask the production department how much it costs to make the arti- cle, then they add a selling cost and a profit. Next they call in the sales department and say, ‘Here's the arti- cle and this is the price, go out and get it!' At Detroit .we have always figured from the other end, We be- gan with a human need, that we want- ed to glve just as much as we could AT THE Burritt Savings: Bank You Can Put in Your War Savings Stamps Due Jan. 1, 1923 U. S. Victory Bonds Due Dec. 15, 1922 and they will be accepted for - deposit. Bring them in now and not wait until the last minute, when everyone is rushing to get them in. We will be open to- night from 7 to 9 o’clock for your convenience, 4Y2% Interest on All Deposits N NEW BRITAIN, DAILY HERALD, SATURDAY, DECEMBER 9, 1922. , for a dollar. The product must be right, it must give service, so I ex- perimented and tested for 11 years before we were sure the product was as good as we could build it. Then we began to figure out ways to make it more efficlently—to give more for the dollar, “When sales slow up we don't drive the sales force and try to force folks to buy, we cut the price, then more of them can and do buy, When the price is cut it is usually cut below the cost to manufacture at the time, Then the production department has to figure out new economies, new short cuts that will deliver the same car for less money-—and they've al- ways done it! “The more you give people for a dollar the more thera are of them who can buy. The larger your production, the more you can give."” Here we have the rule that has bullt up one of the greatest commer- cial successes of our day—the organi- zatlon that has supplied cheap, effi- clent transportation to every country round the world, = “Things are coming along very well,”” added Mr. Ford, commenting on current business recovery, “‘and if they will only keep from jumping prices there's no reason why the im- provement can't continue, Hold down prices and raise up business. “If the merchants and manufactur- ers begin boosting, then costs of living will go up, wages will try to keep pace and we'll all go on another grand scramble of “Getting” only to land in the ditch as we did in 1920, “Maybe I am wrong but I believe these words demand the earnest con- slderation of every business man, We certainly do not want to repeat the experiences of 1920 and early 1921." In connection with this statement the Babson experts have been check- ing up commodity prices and find that in 1915 prices were travelling side- wise near that more or less famous ‘1914 level. . ® Under the steady pressure of Eur- opean buying the trend turned upward in October of that year and continued to climb steadily for two years. After a brief reaction the climb started again and for another year prices soared. A temporary decline came on the heels of the armistice but this was followed by a speculative orgy and prices ‘skyrocketed’ once more to the peak which was reached in July 1920. At this point prices were 1409, above pre-war levels, What had cost $1.00 now cost $2.40. Then prices broke and we exper- ienced the most radical commodity decline in history. During the next 12 months — July 1920 to July 1921—prices dropped to a point but 45% above 1014. By January of 1922 they had worked down to about 40%. Since then prices have climbed about 209, so that the average level today is 609 above pre-war levels, If prices hold at around this level with a gradual adjustment — lower building materials and higher farm prices—there is no reason why im- provement should not continue. If, however, grasping business interests try to raise prices on the strength of increased activity, business will have another setback. i City Items Gulbransen Player Planos, Morans'. —advt. The scarf which was given by the German Baptist Ladies' Aid was awarded to Mrs. E. Hotchkiss of this city. Meet me at Schmarr’s for dinner.— advt. An illustrated lecture on “Ra- ‘mona,” showing scenes of the Raman country and Southern California will be given in the South Congregational church tomorrow - evening at 7:30 o'clock. Rev. John L. Davis' topic at Every- man's Bible Class session, Sunday morning, 9:30, will be “The Need of the Hour.” All men of the city are cordially invited to be present.—advt. FINES TOTAL 3650, REICHER IS JAILED (Continued From First Page), & ow which ob. told waus placed In the wi struets v the patrolman Judge Klett, Julia Admit R e penstbility ‘In reply to questions of Prosecut- ing Attorney Joseph G. Woods, Juiin fald he wes the man jesponsible for the sale of llquor, Marchell s a ook and Lieicher cleans up the stor but neithy- sells whiskey, he stated, “If I told the policemen last night that Marche!! or Relehcr sell whishey it was beca:se T was nervous,” a3 added, Marchell sald he cooks but nevor sells whiskey, He knew that the storo was one wa.re liguor could be bought, he sald, but that was a branch of tha business that the proprietor, only, took part in, Reicher, Man WZh a Record Relcher, who has been in the court for gambling, keeping a gambling! house, several violations of the motor vehicle laws, violation of the liquor law and who was recently arraigned in the Newington town court for high- way robbery, said he merely cleans up the place. He is on probation and does the work so that he may make payments regularly. Raid On Seymour Plainclothesmen Patrick McAvay and John Stadler went into Joseph Siwatkis' store at 1 Seymour street yesterday afternoon and took some alleged whiskey which was turned over to Prosecutor Woods. Mr. Woods had the case continued today until Thursday morning for an analysis. | Mrs. Porbinskl Fined $100 A moonshine still was in operation when Messers, McAvay and Stadler called at Anna Porbinski’s home at 16 Star street yesterday afternoon. Anna admitted the sale of its pro- duct at 10 cents a glass. Her husband has been dead 13 years and she has not worked in three years, hence the necessity for whiskey sales. Mrs, Porbinski was fined $100. Moreau Sent to Cheshire Paul Moreau, aged 16, was sen- tenced to the Cheshire reformatory| and Raymond Foote, aged 18, was fined $150 and costs for taking an automobile owned by William Mec- Kenna, November 11. A charge of, theft was nolled by Prosecutor J. Q. Woods. The car was taken to Metuchen, N. J.,, where the boys fell into the hands of the authorities and were held for Chief W. C. Hart and detective Matthias Rival. The ma- chine had been driven 1,900 miles, At tHe time of their arrest they were going 48 miles an hour. Fined, they were unable to pay and an investiga- tion was instituted, with the result that the New Britain police were noti- fied. . Lawyer Irving I. Rachlin pleaded for another chance for Moreau, who only recently was fined $100 for the theft of a car. Lawyer Michael A. Sexton asked that Foote's good rec- ord be considered and leniency shown. Foote is a student at Yale School of Arts. . Fined For Assaulting-Wife Detective Sergeant Matthias Rival arrested Joseph Jackowitz at his home at 41 Hurlburt street last night for assaulting his wife. Joseph had locked the door of his home at mid- night. When his wife arose some time later and unlocked the door so her daughter might come in, Joseph pushed her against the wall, he ad- mitted. He was fined $10 and placed on probation for three months. Uses Fist to Silence Wife John Hutchik was placed on pro- bation for six months with a 10 day jail sentence suspended after he wagl M found guilty of assaulting his wife; and of drunkenne: Patrolman Ed- ward Peterson arrested Hutchik last night on Broad street upon com- plaint of one of his children. . Hutchik said his wife talks too much so he struck her, ¥e charged that the policeman had treated him roughly and as a result he could not N N Si U v U U Superior, Sales approximated 500,000 shares. Am Bt. Sug . Am Can .. Am Cot O1l . Am Loco . Am Smelt & Ref 64% Am Sug Ref com 77 Am T & Tel,.124% Am Tob ..., Am Wool Anaconda Cop.. 49% Atchison T & 8F101% At Guif & W I, 24 Bald Loco ..... 124% Balti & Ohio . Beth Steel B Can Pac Cen Leather Co. 33% Ches & Ohio .. Chi, Mil & St. P 22% Chi Rock I & P. 32% Chile Cop . Chino Cop Consol Gas .. Corn Prod Ref.132% Crucible Bteel Cuba Can Sug.. 14% Findi-John ... Erie 1st pfd .. Gen Elec .. Gen Motors .... Goodrick (BF).. 35% &t North pfd .. Ins Copper . Inter Con ...... Inter Con pfd.. Int Mer Mar .. Int Mer Mar pfd 52 Allis-Chalm . Pac OIl . Int Nickel .. Int Paper ... Ky Spg Tire .... 45% Endicott Cop Lack Steel Lehigh Valley .. Mex Pet Midvale Steel Utah Copper . Willys Over .. Westinghouse National Lead Aetna Life Ins, Co. Am Hardware Am Hosiery .. Company. Wil strest—Some good gains by Industrials, particularly metals and low priced ofls in the early part of today's stock market session but fn a number of cases these were reduced or wiped out on resumption of selling pressure and profit taking at the close. Rallroads were again sluggish, public buying of these issues belng almost negligible. Joct to speclal Influences, such as Na- tlonal Lead which was pushed up 4 voints on stock dividend expectations and Allied Chemicals which advanced more than 2 points heavily increased earnings in Novem- ber, were the most active. a broadening demand for coppers on resumgption of dividends by Butte and irregular. The close was . 43 8% 18% L124% 43 73 1844 123 653% 76% 124 156 95% 484 16634 95% 6614 . 21% . 23% L 125% . 66% 87% 15% 182 .14 9% . 33% % k) 13 . 44% . 41% . 14% . 3% Y Central YNH&H. 96 22% Norfolk. & West 111% North Pacific .. Pure Oil Panand P& T .100% Penn R R . Pitts Coal e Ray Con Cop .. Rep I & 8 .... Royal D, N Y .. 5% 28% nclair Oil Ref South Pacific South Rail ..4.. Studebaker Co |Texas Co ... Tex & Pac Tob Prod Trans Oil .. Union Pacific . United Fruit . United Rt St .. 1 134% . 49Y . 224 . 81% .12y .138% 158% 2% 66% 53% S Indus Alco . 8 Rubber Co . 8 Steel 8 Steel pfd .120% 62 614 2% . 60 . 124% iddlestates O (Putnam & Co.)* Bid «e0. 850 ..235 on reports WALL STREET STOCK EXCHANGE REPORTS Quotations furntwhed by Putnam equipments, Stocks sub- There was 42 73 18% 123 b4 6% 124% 156 95% 48% 1015 24 124 3% Asked 666 240 65 of | We Offer Scovill Mfg. Co. JUDD Co,| £ 'd)flhh‘.u” Members New York Stock Exchange MEMBERS HARTFORD STOCK EXCHANGE HARTFORD: Hartford-Conn. Trust Bldg., Tel. 3-6329 NEW BRITAIN: 23 West Main St., Telephone 1818 —— We Offer and Recommend— AMERICAN HARDWARE CORP. The stockholders of this compaty «t the special stock- a0lders’ meeting called for I Dec. 20, will undoubtedly vote to reduce the par value from $100 to $25 and to make in increase of 259 in capital stock. This means that for cach $100 share which stockholders own on December 20, they will receive in exchange 5 shares of $25 par valuc stock, We believe that these $25 shares will probably have a market value of $50, at which price the stock will scem cheap in comparison to other local stocks which are selling now at prices ranging from $60 to $75 per share. Under favorable business conditions in 1923 we expect ‘o see American Hardware Jrices. @homson, Tem NEW BRITAIN New Bfitain Natioual Bank Bldg. Telephone 2580 Members Hartford Stock Exchange new shares selling at higher éflfli 10 Central’ Row Telephone 2-4141 Members New York Stock Exchange Donald R. Hart, Mgr. 50 STANLEY WORKS, Common 50. NORTH & JUDD. Prices on Application We do not accept JOHN P. margin accounts KEOGH Member Consolidated Stock Exchauge of New York Waterbury Danbury Middletown BO. STOCKS Bridgeport NDS Nigtad Direct Private Wire to New York and Boston G. F. GROFF, Mgr.~Room 509, N. B. Nat'l Bank Bldg.—Tel. 1015 Big-Hfd Cpt Co com .. Billings & Spencer com Billings & Spencer pfd . Bristol Brass . . 15 Colt's Arms .. .23 Conn Lt & Pow pfd ...112 Eagle Lock 72 #Tatnir Bearing Co . 58 Hart & Cooley ... 112 Hfd Elec Light .. 160 Landers Frary & Clark . 69 J R Montgommery ' com J R Montgomery pfd ..105 N B Gas N B Machine com N B Machine pfd Niles-Be-Pond com . North & Judd Peck, Stow & Wilcox Russell Mfg Co ... Scovill Mfg Co Southern N E Tel Standard Screw . Stanley Works com . Stanley Works pfd .. Torrington Co com . Traut & Hine ... Travelers Ins Co . Union Mfg Co 133 137 23 26 18 25 115 75 65 117 165 7o 72 raise his arm; also that he was struck on the head. Judge Klett asked John to indicate where on the head he had been hit. Immediately the arm that was represented ,as in a conditions that would not allow it to be raised, shot up and the witness pointed out a spot. United States Victory Bonds, due Dec. 15th, * War Savings Stamps, due January lst, and Christmas Club Checks Accepted Now For Deposit At This Bank, Where 4% % Interest is Being Paid Upon Deposits Savings Bank of New Britain Organized 1862 Resources Over $13,500,000 GET 150 CASES OF LIQUOR. New York, Dec. 9.—A disabled motor launch carrying 150 cases of | liquor was seized off Sandy Hook to- day by coast guards who answered signals for aid. Yes, how._:gladmiyou’ll next Christmas if you put a little money each week into Our Christmas ~ Savings Club Is made up of people with foresight, who'll have money when they want it most. Our cheery Xmas circulars tell of the pleasure you'll have. Drop in and get one or write us. You can bring the deposit yourself, send it by mail or messenger—it’s easy, we ‘do all the work. The Hartford-Connecticut Trust Corner Main and Pearl Streets, Hartford, 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 — GENERAL BANKING Bank by mail. It is safe and saves time. U. 8. Treasury—Balance, YETERANS NOMINATE Smith (,,/fl'?\,: \ Members of Walter Post o Your Ciristmas Saving-- Early--- — The — Choose Slate of Officers But Vote to Keep List Open Until Later Date, At a regular meeting of Walter J. Smith Post, No. 511, Veterans of Koreign Wars held last evening in the | club rooms, the following officers were nominated for the coming year: Commander, Willlam jA. Allan. Senior vice commander, Nathan C. Avery. Junior vice commander, Mason An- fover the meeting and an address of welcome was delivered by W. E. Att- wood. The entertainment for the eve- ning was provided by the trust com- pany in the form of a minstrel show. C. J. Law acted as interlocutor hav- ing Vincent Knight and the Misses HARRY C. JACKSON SPEAKS TO BANKERS Entertainment At Second Meeting of Open Saturday Evenings ‘NEW BRITAIN TRUST CO. Cor. Church and Main Streets NATIONAL drews and Herbert Peterson. BANK CHRISTMAS CLUB For 1923 is Open For Membership JOIN NOW E. Chaplain, Leroy €. Ensminger and . Coles. Quartermaster, and Ray Kinkaid. Officer of the day, Fred Pinto and Peter Cook. I'rank Sghroeder Inside guard, Willlam Bottomley. Qutside guard, W. Thurston. Trustee for three years, Frost. Because of the small attendance at « | last night's meeting it was decided to hold the nominations open until just | before the election on Dece | when additional names may \ on the list. Raymond ber 22 placed Yecar Is Provided By New Brit- ain Trust Co. Employes, Henry C. Jackson of the Slater branch of the Industrial Trust Co. of Providence, R. 1, spoke before a well attended meeting of the, New Britain chapter of the American Institute of Banking held at the New Britain Trust Co. last evening. He is a mem- Ler of the executive council repre- senting this district and spoke on the history of the institute and of th> op- portunities offered bank employes of today by the chapter, Harry Hatsing, president, presided McCarroll, Moyer and LaHar as end- men. The chorus consisted of Mrs. Johnson, Mrs. Bernstein and the ‘Misses Rober, Dawson, Krom and Latham. . 3 Music for the dancing was furnishe ed by the Alpha String orchestra, Mrs. Kronholm catered. vk New Zu_mr;—m Of Fear of Revenue L Sydney, N. 8. W, Dec. 9.—J. Anderson won the Australian tennis championship today de Gerald L. Patterson in a - match in the finals, 6-—0, 3—6,