New Britain Herald Newspaper, January 27, 1923, Page 13

WHAT'S THE TROUBLE WITH FRANCE? READWHATBABSONHASTODECIARE 1 Wellesley Hills, Mass, Jan. 27, = Since the arrival of the British debt commission to the United Btates, Kog- er W, Babson has been making a stildy of the situation from a statis- tical point of view, His detalled con. uslons are dry and uninteresting. he summary which ke makes, how. ever, is most enlightening, “First, let us realize,” says Mr, Babson, “that the coming to this country of Stanley Baldwin, British chaagellor of ‘the exehequer, Mon. tague ©, Norman, governor of Bank of England, and their assoclates from the greatest empire in the world, with hats in hand and begging for merey, is one of the greatest events in our figancial history, For centuries Gireat Britain has been the world's &reatest creditor and all nations, in- cludiig our own, have owed the Brit. ist empire billions of doMNars, ““The war turned the financial world upside down. Certaln great nations like Germany emerged bankrupt; France, the world's greatest invest ment nation emerged a debtor; while Kngland, to whom everyone came for advice, now comes to Washington for help, Truly this is the most dramatic economic and financial event in the history of our nation, It also empha- siges the fact that we have a financial responsibility as well great opportunity, Therefore, with this though in mind that must make our decisions. “This whole question of repara- tions,” continued Mr. Babson, “is bound up with sympathies, politics, and national feeling. Owing to the latter, without doubt, a great many people in our, country sympathize with Germany, and many others, through their love for Ireland, hate Fingland. Frank study of the situa- tion, however, should convince any disinterested party that Germany is in a position of a burglar who attempt- ed a colossal steal but was caught and wefeated in his plans, Irrespective of the question of punishing this bur. glar, all must admit that he should make amends for the goods which he partly got away with and destroyed. I'rance, therefore, should not be crit- icized for insisting that Germany re- store, as far as possible, the property which was destroyed and damaged in her attempt to burglarize. Every dis- a it 1 we interested party must admit that this la reasonable, France Is asking of Germany only what any ene of us would ask of a neighbor who at- tempted the same thing in our com- munity, “The reason that France has ve- cently lost sympathy in her negotia- tions with Germany is due to the faet that she is going at her problem in the wrong way, France's diffieulty is that she is Inconsistent, Hhe wants A certain economic law to apply to her hut wants to suspend it in the case of Germany, Perhaps this is more or less true of all the allles, especially when they say that they cannot af- ford to pay their indebtedness to the United States, Yet when one looks at the statistics he finds that England, FPrance, Italy mod all the allies com- bined owe the United States only about 10 billion dollars, while they are demanding of Germany alone reparations of over 30 billien dollars! Of course, if Germany can pay any such amounts as France demands, there is absolutely no doubt but that England, France and the rest of them can very casily pay a smaller amount to the United States, President Hard. ing and his cabinet, and all others who have looked into the matter evi- dently appreciate this situation, “Up to the present time, England is the only one of the allles who has inade an honest attempt to return any money to us. England is paying in- terest on its indebtedness while the other countries have sent us practical- Iy nothing. It is true that England has a commission here today pleadine mercy; but we should be fair with England and recognize that she has made her payments thus far in ac- cordance with her agreements. As to what we will, eventually do with these forelgn debts cannot be foretold at the present time, Certainly it would be useless to cancel them to- day and have these European nations go on another great spree or spend our money playing military poker, If, however, these nations would repent of their sins, disband their armies, and live honestly and decently, I be- lleve the United States would be glad to cancel the indebtedness or do any- thing else which would truly help, On the surface, the difficulty with Europe is financial; but a statistical When You Start A Bank Account make depositing money a-habit. Regularity in putting away that spare Dollar is what graduglly builds up the balance. Besides you receive, twice a year, interest at the rate of Start Saving 41%5% This Week Warden William H. Lankfor: sult of the investigation into the revolt in the Maryland House of Correction in which 14 prisoners were shot. brutality have been made against Warden Lankford, shown a prisoner shackled to bars as punishment for leading re- volt. study shows very elearly that the real trouble with Iurope is spiritual, ' De- fore we, or any other country, can help Europe, the European nations must change their purposes, motives, and attitude toward God and one an- other, “Until this time comes I cannot advise anyone to buy or even hold European securities, After paying for the bare necessities of life Europe has a surplus which ft can use either to maintain armies or pay interest on ts indebtedness, but it has ot sur- plus enough to do both. KEurope is a good deal like the steamboat on the Mississippi which Abraham Lincoln used to tell about, The boiler capa- city was enough to blow the whistle or to run the boat, but not enough to do both. When the whistle blew, the boat had to stop. 'At the present time Europe seems to desire to whis- tle rather than run. Until Furope changes its desires and puts its ener- gies on running instead of whistling wise investors will not hoid European securities. On the other hand, I be- lieve that when Europe quits squab- bling and settles down to an honest effort to produce, these Iuropean se- curities will be perfectly good. This is true not only as to the money owed by Europe to the independent inves- owed to the United States because these debts all combined are less than France claims Germany alone is able to pay to her. “This is why foreign éxchanges are s0 little disturbed and business con- tinues to be good. Even the rarch- ing of French troops into Germany seems to affect our markets very lit- tle. The Babsonchart now above the X-Y line indicates that general busi- ness stands at 29, above normal which is very good for this time of year. From' the headl ines in the papers, one would think Kurope fis going to smash, and England into bankruptey. Do -not fear — when Europe sees the crror of its way and becomes sensible, it will ‘come back' very rapidly. In the meantime,” con- cluded Mr, Babson, “we are showing wisdow by sitting tight.” City Ttems Gulbransen Player Pianos, Morang’. —advt. Captain and Mrs, John Edeen of the i Salvation Army have returned from a three day congress of Salvation Army officers in *New York. Commander Evangeline Booth was present at the congress. l French Hat Shoppe Professional Bldg. | —advt. The last chance to Open that Xmas Club We are open tonight from 7 to 9, and you will have a last opportunity to take out a Xmas Club Booklet. From Jan. 28th on, the club will be closed. Make sure you come in tonight and start. tors of thisicountry, but it also applies to ‘the 10 billion dollars which are Y which | s WALL STREET STOCK EXCHANGE REPORTS Principal interest in today’s irreg- ular session of the stock market --zn-‘ tered in the further depreciation of| forcign exchanges and buying dem- onstrations in obscure shares whose fluctuations ordinarily do not influ- ence the general trend, Heaviness cropped out in a number of the standard shares, particularly Bald.| win, Unien Pacifie, Bethlehem Steel and some of the foreign oils, | Baltimore and Ohio enjoyed a brief period of strength on publication of the December earnings PUTNAM & CO. Stanley F. Fddy, Manager Members New York Stock Exchange Members Hartford Stock Exchange (Successors to Kichter & Co,) We Offer 100 American Hardware 100 Landers Frary & Clark 81 West Maln St, Tel, 3040 howing an increase of statement nearly $3,.) 600,000 in net operating income, Lackawanna also moved ground Spicer Mfg, Continental In- surance, Parish and Bingham Corp, | an spots while Asphalt and Republie pfd, sold 1 to The closing was irregular, Bales approximated 350,000 shares, Quotations furpished by Putnam | & Am d (above) niay be ousted as a re- Many charges of Ab-ve ig|Cs o o SCOTS GATHER FOR TRIBUTE 0 BURNS Attendance of 800 at Anoual Ob- servance by Lads and Lassies o E I I G G G G In A P Ifully 300 people were in attendance at the 15th annual banquet, concert and dance of the Burns club of New Britain held in the auditorium of the Y. W. C. A. on Hungerford court last night in honor of the anniversary of Robert Burns, the greatest of Scotch poets, Rev. John L. Davies said grace after which a bountiful repast was served by Mrs. A. Rronholm with 19 girls dressed in white waiting on tables, The tables were attractively decorated and arranged. Across the center of each table was a huge strip of yellow paper upon which were placed, at in- tervals yellow candles in glass candle- stick holders decorated with red crepe paper. Individual palm plants were at both ends of each table. William Blair, president of ‘the Burns club, presided over the banquet |and Steve Robb acted as toastmaster. Mr. Blair, in an address of welcome, aid that he was glad to see so many people had turned out to observe the anniversary “of the greatest poet who ever lived.” . & Steve Robb introduced Mrs. Jo- | U sephine Koch as the first singer of the l‘. evening. Her rendition of “Flow Gent- || ly Sweet Afton” was well received by the diners. Her song was followed by *0 My Love is Like a Red, Red Rose” by John T. Dowd. The Truth About Burns Rev, John F. Johnstone, of the Presbyterian kirk, Hartford suburb, delivered a most interesting address ] on “The Truth About Burns, the im- mortal poet.” Describing the conditions under Robert Burns was born and lived, Rev. Mr. Johnson said that the poet was not entirely at fault for his condition in later life. The speaker said that the great poet was born poor but came of a good family, The brothers and sisters were brainy and made names for them- selves in their older years. He stated that the father was a God-fearing, | Bible-loving man and ¢he mother was la woman of great gifts. Continuing Rev. Mr. Johnstone said “Burns' childhood was a decade of gloom and despair. At 17 years of age he began to feel that he had abili- ty and left his home. His first f¥ip did not prove successful and he re- turned home to start in business with a relative at 23 years of age. “When Burns was years old his father died. This caused the great change in his life of Burns., His great- est poems were written when he was and 27 years old. ‘The Cotter,” “To a Mouse' and ‘To a Daisy' were three of the best pieces written, in those years.” The speaker told of Burns' unsuc- cessful matrimonial experience, of his trip to Edinburgh, his return to the small town in which he was born and then his trip to the west highlands where he wrote YA Man's a Man for A' That" and “Auld Lang Syne,” the last named considered the greatest of all farewell songs by the Scottish peo- ple. The address was received by a round of applause and was followed by the singing of a duet “Ye Banks and Bras by Mrs. Koch and Mr, Dowd Koch then sang “A Highland Lad My Love was Born,” and Mr. Dowd “Bonnie Lass of Ball- oechmyle.” The final after K L N N {3 P R Si S S sl T T Y U U U A A A Bi B Bi 15 E: H, Hi J. J. N N N N N R St St v ve ed pe dinner song in which everyone participated was “Auld Lang &yne.” The diners form- ed a huge e about the hall while singing and in bond of friendship | | clasped the hand of their neighbors, Professor M. 1. Kenney was floor | director in ¢ of the dancing for | which the music turnished by the | Scott Sextette with Edward Ramage |acting as leader. The gragd march | was followed by the circassian circ.e | ot single recl. Pipe Major William th Iln wi 9 Ate Tp & 8 ¥ Bald Loco . Balti & Ohio Heth Steel Corn Prod Ref .128% Cru Steel Int Nickel . Kel Spring Tire. Midvale Steel Miss Pacific NYNH&H.. Norf & West Pan Am P & T. Penn R R Ray Con Cop .. Reading PR Royal D, N Y.. 4915 Texas Co .... USs Utah Willys Over Mid States Oil.. Westinghouse Colt's Conn Lt & Pow pfd Fafnir Bearing Co .. Landers, rection of Blaire Harrison, rehabilitation for the sixth district of bureau The men moved inté the first farm- b United aMl, Norfolk and to nd Kresge were among the Royal Duteh, points, company. High Bt Bug ..., 37% TN Can Cot Ol loco .., Sm & Re., Sg Rf em, Sum Tob 16 123 100% .133% T B an Pac .. Ches & Ohio Ch Ml & 8 P., Ch RK 1 & % 3% 20% 241 127% 2% 12% §0% 1% 16 1% hile Cop .. hine Cop . o TeY a1 a0 1% 1614 .183 143 . 86 ub Cn Sug ... 1 ndi-John ..... rle ... rie 1st pfd en Elee .. en Mot ood (BF) . t No pfd . nsp Cop 14 Inter Con In Mr Mar pfd. .44 147 491, enn Copper .. 36% chigh Valley . 71% 88 16% .04y 20% . 112% . 76 8714 . 467 1% 61% 187% 8 48% Ilis Chal acific ON Y Central 111% 4% 87 469 113% 51 13% % 48 4514 32 90 20% 114% 47% orth Pacific ierce Arrow .. itts Coal ..... ep 1 & 8..4. inclair Oil Ref. 3214 outh Pacific .. 90 outh Rail . 30 tudebaker Co .1151% .48 Pacific. 21 . 82y 1% 137 exas & obacco Prod ranscon Oil nion Pacific nited ruit ...160% nited Re St .. 71% S Indus Alco. 64% R Subber ... 59% Steel ......108% S Steel pfd ..121% Copper 5914 106 1211 62% % 7 11% . 61 1% 60 (Putnam & Co.) Bid +. . 670 49 etna Life Ins Co m Hardware . .. m Hosiery .. 40 ige-Hfd Cpt Co com 134 illings & Spencer com 12 illings & Spencer pfd ristol Brass ..... Arms 118 23 11314 agle Lock 62 . 16 157 . 89 90 108 art & Cooley .. fd Elec Light F . R. Montgomery com R. Montgomery pfd B Gas .. . . B Machine . G Machine pfd ..., les-Be-Pond com orth and Judd .. Peck, Stow & Wil ussell Mfg Co .. Scovill Mfg Co ... Southern Southern N E Telu N E Tel andard Screw anley Works Stanley Work pfd ... Torrington Traut & Hine Travelers Ins.¥Co Co com 675 nion Mfg Co . @ i U. 8 Ticasury: At Canton, Miss—10 Acres Lquipped New Orleans, La., Jan. 2 tera farmers today riment at Canton, 2 e United States Veterans' blished ans' bure community g community « States vetc 11 conduct their its’ guidance. They were given fully equipped for- ty acre farms on a plan under which | Western General Low Close -BfifiboyJ. . Balance, $320,583,187, WORLD WAR VETERANS N COMMUNITY FARA SCHENE, i 116 Ex-Soldiers Open New Experiment | u and! higher i [T — - strong 5 UL S N Members New York Stock Exchange MEMBERS HARTFORD STOCK EXCHANGE HARTFORD: Hartford-Conn, Trust Bidg, lel. 36320 NEW BRITAIN: 28 West Main St. Telephone 1818, WE OFFER— 1060 Shs. American Hdw. Stock Seasonal Office in the Belleview Hotel, Belleair Heights Florida 37% 82% 161 128 66% 8% 26% 95 4% 10014 183% 46% 621 142% o 72 28% 33% ” 30 24% 127% 73% 12% 0o 1% 16% 183 14 36% Y 34% % 381 463 43% 14% 49 36 0% 27.% 163 94 20 112 5 8714 463 Thomson, Tenn & o, NEW BRITAIN Hartfora New Britaln Natioual Bank Bldg. 10 Central Row Telephone 2580 Telephone 2-4141 Members Members Hartford Stock Exchange New York Stock Exchange vbm\d R. Hart, Mgr. We Will Buy or Sell STANLEY WORKS TORRINGTH COLT'S We Do Not Accept Margin Accounts JOHN P. KEQGH Member Consolidated Stock Exchange of New York Waterbury STOCKS Bridgeport Danbury S New' Haven Middletown BONDS Springfield Direct Private Wire to New York and Boston G. F. GROFF, Mgr.—~Room 509, N. B, Nat'l Bank Bldg.—Tel. 1015 W The Hartford-Connecticut Trust Company Corner Main and Pearl Streets, Hartford, Conn, Capical $2,000,000.00. Surplus Funds $2,000,000.00 Saie Deposit Boxes, $0.00 and upwards. tettlement of Estates. Foreign Exchange to all parts of the world. LETTERS OF CREDIT — GENERAL BANKING Bank by mail. It is safe and saves time., N o i When the colony of 150 men is com- | pleted, nearly 17,000 acres of land adapted to truck farming will be un- der cultivation. The venture will be watched by the veterans' bureau as a solution of the problem of caring for thousands of veterans being trained as agricultur- ists and if successful, probably will be adopted elsewhere. CAUTION IS MAKING LOWER DEATH RATES st Page) sease spread to about 20 other towns. T. B. Death Rate Drops 3 The death rate from pulmonary tu- berculosis has been decreased from in 1920 to 83.4 in 1921 and 82.8 There were 1,605 cases re- he state health department records show that this decrcase in death rate is due in large measure to the effi- cient work of local health officers and physicians, the state tuberculosis com=+ mission’s activities and to the worlk of local tuberculosis associations. Typhoid Mortality Low Connecticut is one of the few states showing a continued reduction in deaths hoid fever for the past Fhe death rate has been reduced from 4.2 per 100,000 popuia- to 3.4 in 1921 and 3 in were 3.15 cases in 1922 ths, ac (Continued From sulting while ir there 447 cases | and ¢ deat! The health show that this sudden crease was due to the fact that pox got started in Bridgeport where schools had not been From Bridgeport the di- |1 department records | @nd 43 de and 1 e in- mail- he Chinese, though they have done ble fightng lately, in general he profession of arms a very 170 inated. alling. 6 2 48 20 690 47 ~—Sixteen s of the world war rehabilitat- started an , under chief of ex- | di- the and under they can own them in a few vears, They are to conduct their own mark- eting through co-opefative methods. They will have their own school, to he If you put a Herald Classified Ad in |used for continuing their agricultural | the paper for six nights and after the |training and by their children for | rst night you find that the ad has|regular school work: sccomplished its purpose, let the| The 16 farms on which the men | Herald Classificd Nept., know hgfore Imoved comprise a part of the initial {1 o'clock the foliowing day and you tract of 1680 acres which has been| will be charged for only one insertion. set aside by the people of Canton. | Miiter played for the Highland SBchottische, Scane Foove ui%-J “THE KENTUCKY DERBY’svanris QEQINALD DENNY| AUNIVERSAL JEWEL PICTUR FOX'S —Nexi 1thursday, Friday and Saturday