New Britain Herald Newspaper, April 11, 1923, Page 13

NEW BRITAIN DAILY HERALD, WEDNESDAY, APRIL 11, 1923, NEW CONGRESSIONAL WALL STREET STOCK ACT PRONISES ATD EXCHANGE REPORTS Fll'mfll‘s to Gllll b’ cmlt ‘p\;\".:l:':t:ro!'..:-{'ul;(llic lnll('r‘l;‘ll un-.hj Legislation, Says Wallace ing of today's stock market, Resump- tion of selling pressure In the "o'l mestic ol shares was founded on re- | ports of a cut of 26 cents a barrel |Wuhlnl!nn. April 11,~Pinanclal ro- in Penna. crude prices, DuPont ad- l;f‘forl :-rTeE- I;Iwovlded in the new vanced a point and fractional im- gricultural Credits act which the| sacretary of sgriculture, ‘Heaty O provement was noted in most of the Wallace, says soon will be function- ing. Mr., Wallace, in describing the new act, says: “On the last day it steel shares, was in session congress enacted the creagsed to correspond with the cap- ital required of national bank: “The life of the war finance cor- poration is extended up to February 20, 1024, the expectation being that by that date the new credit facilities provided for under this agricultural credits act will be sufficlent to meet the needs, “This agricultural credits act of 1923 1s one of the most important acts passed by the last congress, It marks an earnest effort to provide the farmer with the sort of credit he must have t@ carry on efficlently, It is not class fegislation, GIRL, 14, ADMITS SHE WAS WEDDED TWICE IN 10 DAYS “1 Love Them Both.” fhe Tells Judge ~Second Husband and Mother Are Held in Heavy Bonds, New York, April 11.—A bigamist at fourteen by her own admission, 1s Leonllda Cupolo, who was turned over to the soclety for the prevention of cruelty to children by Magistrate Hat- ting yesterday after her mother and husband No, 2 had heen arralgned BUCKLEY PROPOSES STIFF SUNDAY LA Suggests Drastic Enlorcoment of Statutes Restricting Sports Hartford, April 11,—House Leader Buckley announced today that he will call from the table.the bill' concerns ing the observance of Sunday, but in. stead of asking to have it passed he wil! strike out all except the enacting clause and offer as an amendment a PUTNAM & Members New York Stock Exchange Members Hartford Stock Exchange (Successors to Richter & Co.) Stanley ¥, Eddy, Manager 81 West Main St,, Tel, 2040 HARTFORD ELECTRIC LIGHT RIGHTS SOLD AND ADJUSTED, on a charge of alding and abetting in a bigamous marriage. Leonllda calmly told the court that she had married Fred Chiffo, of Jer- Noon—Bome of the losses In the oil group were extended to 3 points be- fore the selling pressure subgided When it became evident that the sell- BOUGHT, Beaths provision for drastic enforcement of the present statutes regarding the ob- seryance of Sunday. He also sald he would ask for a roll call vote on the amendment, It was the idea of the committee he said that either the present law should be enforced or the statute re- pealed and what is justified in Sun. day sports legallzed. “It is common knowledge,” Mr. Buckley said, “that the present law is violated, It is avidenced by the print- ing of schedules of Bunday games and the published reports of results of Sunday games. When arrests are made juries refuse to convict, prose- cutors and grand jurors refuse to act and witnesses practically refuse to tes- “tify to violations of the law." The present statute, as Mr, Buckley proposed to amend it, will leave prose- cutions for its violations to the state's attorney. i The so-called scdition bill was reached for action on the calendar to- day but was tabled on motion of Mr. Schatz, of Hartford. It is understood there will be modifications offered in the house and in: the senate i the bill goes through. The bill as reported was criticized, by members.of the Yale law faculty who sent a letter to the judiciary- committee declaring that it violated the principles of free speech. Bllls passed from the calendar au- thorizing. the city of Waterbury to fssue five per cent sewer bonds; au- thorizing the town of Kent to issue $70,000 of bridge funds; authorizing the memorial library assoclation of North Haven to hold and convey property to the value of “$75,000; authorizing the city of Meriden to lay a special tax to pay a floating indebt- edness of $385,000: amending the charter of the Pomfret school; incor- porating the Meriden Masonic Tempie Foundation. The committee also adversely re- ported a bill concérning consolida- tion of the towns of Orange and Woodbridge and the bill was rejected. A petition for the annexation of a portion of the town of Lebanon to the town of Windham was unfavor- ably reported. A favorahle report was made on the bill providing for annexation of a portion of the town of Harwinton to the town of Torrington. < Bills. authorizing the town of West Haven to issue bonds and providing for the exemption from taxation of farm produce were favorably report- ed. Excuysion Party. of 800 Leayeg Here for. Neyw York An excirsion party of 800 left the city this- afternoon at 3 o'clock en- voute to New York city where the party will attend the Hippodrome theater performance tonight. The party is traveling by rail under the auspices of the Y. M. T. A. & B. so- ciety, It is expected to arrive in New York city at. 6 o'clock, allowing for two hours of sightseeing before the opening of the show. At midnight, the train will start for home, arriving in the city about three o'clock in the morning. STEPPED 'IN FRONT OF' AUTO. Jnseph' Ri.Andrews of Andrews, Swift &:Co., reported, to Captain George Kelly.q.t police headquarters this afternoon. that while he was driving his automobile on Broad street, Stanley Wuski, who was driv- ing a horse and wagon, stepped from his wagon without warning and was struck; by Mr. Andrews’ machine. He was taken to the office of Dr. Fotar- czyk, where it was learned that he had injured his right ankle. FORTIETH ANNIVERSARY Mr. and Mrs. Fred Bell of 92 Ches- nut street are observing their 40th wedding anniversary today. Dot’s Friend are very kind to me. whole lot, but when he went away and I didn’'t see him any more, married Fred, gade, with headquarters dairy of Joseph O'Dowd, arrived on the scene, the Steer home was a mass of flames, No one is on duty nights at the fire station, so O'Dowd, flames rising from the back of the Steer home, rang the fire bell. sey City, on March 1, without taking the trouble to get unmarried from Tony Cerboto, whom she had wedded ten days earlier, “I love them both,” she sald, “They I ljked Tony a 1 He is nice, too."” Magistrate Hatting held the girl" mother and second husband in $7,- 500 bail for another hearing Thurs- day, when he will rule on the con-|farm needs. tention of their counsel that the court {about a reduction 18 without jurisdiction because second ceremony was performed in|rowed. New Jersey. CATCHES WOMAN AND BABES the TOSSED FROM HOUSE AFIRE Neighbor Assists Tenant in Getting Family Safely Out of Burning Burning Pine Brook, N. J., April 11.—John Bteer, Bloomfeld avenue, was awak- ened yesterday by the sound of the village fire bell. clothes and started to go down to see where the fire was. ed his bedroom door smoke rolled up the stairs, making The alarm was for a blaze in his own home, He put on some When he open- exit impossible. Selzing his baby daughter in his arms and awakening his wife and two other children who were asleep in an adjoining room, he rushed to a win- dow. Ten feet below stood a neigh- bor, Thomas Nugent, who had run over to awaken him. Wrapping each of his three children in blankets he tossed them, one by one to Nugent who caught each safdly. Steers climbed junwped to Nugent's arms. followed by Stcers who swung by his hands from the window and dropped uninjured to the ground. Then Mrs. the sill and She was over By the time the volunteer fire bri- near the The house was destroyed, who saw the METHODISTS CONVENE Prohibition’ Looms Up As Big Topic at Convention of New York East Conference in Bridgeport. Bridgeport, April 11.—Prohibition loomed as a big topic for considera- tion of the New York Kast Metho- dist Episcopal ernoon David G. Downey, book editor of the denominational publishing house. said that the *lying propaganda of the wets would be refuted” and fol- lowing the example set by the New York conference an appeal would be made to the public press just as much prominence to the fa- vorable things about prohibition as to the unfavorable things,. also forecast an appeal for stricter enforcement of the prohibitory laws. conference this aft- in the opinion of Rev. Dr. He to give Dr. Downey ‘The session which opencd today and will extend through April 16, is the 75th of this conference. |of women belng ordained to the min- istry may be discussed but' no action will be taken as this subject has been put over so far as action is cerned, year. The matter cone until the conferences next The presiding bishop is Dr. Thomas Nicholson of Chicago and he admin- istered communion at the first ses- sion, men present. There were about 300 clergy- DRUG VENDOR JAILED New Haven Man Is Sent To Atlanta Federal Prison For Two and One- Half Years on Each of Three Counts 11.—Matthew New Haven, April Pappogoda, found guilty last week of violation of the laws, was sent to Atlanta penitentiary for two and a half years on each of three counts the sentences to run con- anti-narcotic drug agricultural credits act, This act fs designed to give the farmer the sort of credit he needs to produce efficiently and market in an orderly way the products of the farm, It is an effort by congress to meet a need which has been felt for at least fifty years. The act may not be perfect. Experience may show the need of amendments from time to time.. But it furnishes the basis for a system of intermedlate credit adapted to farm conditions and A'so {t -should bring in the interest which farmers pay for money bor- “The act is divided into two parts. In the first It provides government agencies for handling agricultural loans. In the second it authorizes the organization of private agencies under government supervision for making loans on live-stock security and on '‘arm commodities on the way to mar- fi ket. TFedcral Banks “The government loan activities will be carried on in connection with the federal land banks. At the present time the country is divided into twelve districts in each of which there is a federal land bank that makes land mortgage loans. These twelve banks are directed by a central federal farm lcan bureau in Washington. In con- nection with each of these land banks there is to be established an inter- mediate credit bank, located in the same city with the land bank and un- der the supervision of the officers and directors of the land bank. The fed- eral government supplies each of these intermediate credit banks with a capi- tal of not to exceed $5,000,000. These intermediate credit banks are author- ized to discount farmers’ notes which have been taken by banks and other financial institutions, and then can carry such notes for a term of from six months to three years. The banks may also loan direct to farmers' co- operative associations umder condi- tions set forth in the act. * Tax Exempt. “These intermediata credit banks may issue debentures which will have back of them the farmers’ notes which the banks have taken. The idea is that these debentures may be sold to people who wish a safe invest- ment. They are exempt from taxa- tion, just as are the bonds issued by the federal land -banks. The interest charged by the intermediate credit banks may not exceed by more than one per cent the interest paid on the debentures issued, and the farmer who borrows must not be charged an interest rate of more than one and one-half per cent above the interest charged by the intermediate credit bank. “No doubt some time will be re- quired to get this machinery in smooth working order. It will be just like building up a new business. It should not be very long, however, be- fore the benefits will be apparent and the farmer will find that he can bor- row needed capital for a period up to three years without having to pay an unduly high interest rate, without having to renew his notes every nin- ety days or six months, and without being in danger of having to sacrifice his crops or live stock because of a sudden financial flurry. “The second division of the act au- thorizes the organization, under a federal charter, of national agricul- tural credit corporations, these to be organized by private capital. They will be under the supervision of the comptroller of the currency, just as are other national banking institu- tions. They must have a capital stock of at least $250,000. They may issue collateral trust debentures up to ten times their capital and surplus. Such corporations will probably be organ- ized in the western states where the livestock industry is important and where cattle loan companies now are in operation. “In addition to the provisions of the act designed to furnish the farmer much needed intermediate credit, cer- tain changes have been made in the law under which the federal land banks operate and in the federal re- serve act. Provision for the estab- lishment of the so-called permanent organization of the 12 federal land banks is made by providing that three out of the seven directors for each bank are to be elected by the bor- rowers from the bank while three are to be appointed by the federal farm loan hureau.' The seventh director, who will be the president of the board, will be chosen from the three persons who have received the high. Mrs. Nellie Saporito Mrs, Nellle Baporito, aged 18 years, wife of Marcello Saporito, died at the New Britain general hospital last eve- ning. RBesldes her husband she {s survived by a one day old child, her father, Vito Paganetti, four brothers and one sister. The funeral will be held tomorrow morning from her home on Christian Lane, Berlin, with services in St. Paul's church, Burial will be in §t. Mary's cemetery, fo Funerals Alfred W, Morlcy The funeral of the late Alfred W. Morley took place this afternoon. Services were held at the late home on South Burritt streef, with Rev. John L. Davis in charge. Interment was in Fairview cemetery. A A At CARD OF THANKS We desire to express our most heartfelt thanks to kind neighbors and friends for the sympathy extend- ed to us at the time of the death of our beloved daughter. We are par- ticularly grateful to the members of the Viking A, C. » MR, and MRS. FRANK OLSON, City Items Open alleys at the Casino tonight, —advt, The Ladles’ Aid society of the Elim Baptist .church will meet Thursday afternoon at the home of Mrs. Joseph Carlson at 40 Newington avenue, Radio sets and supplies at Morand —advt. Samuel L. Kaplan has transferred his property at 83-87 Hart street to Richard and Mary Schmidt through the B. Colomon agency. Open alleys at the Casino tonight —advt. A regular meeting of the Woodmen of the World will be held this eve- ning at 8 o'clock at Odd Fellows’ hall, Arch street, The regular meeting of Martha Chapter, Order of Eastern Star, will be held tomorrow evening with a fam- Al In K M M N N N N ily supper at 6:30 o'clock. fThere will be an apron sale during the afternoon and evening. A large attendance is expected. L. W. Young of the tSanley Works, New Britain, was elécted president of the Hartford Association of Credit Men at a meeting in Hartford yester- day. Wil 8. Howe, of the Russell & Erwin Co., was named a director. Policemen Willlam Hayes and Del- bert Veley were detailed by Chief W. C. Hart to do duty on the excursion train from New Britain;to New York which left here at 3 o'clock this afternoon, . Stanley Grononski was arrested this morning by Officer Thomas Ieeney for not having an operator’s license and for operating a motor vehicle with improper brakes. A son was born this morning to| Prosecuting Attorney and Mrs. Joseph' G. Woods at their home on Columbia street. The annual meoting and election of directors of the Y. W. C. A. will be held this evening. Supper reservations have been made for 100, Among the physical educators of the city who are attending the Amer- ican physical educators convention at Springfield, Mass,, April 11th to 14th, are Misses Leonora Fox, Josephine Rathbone, Estelle Ciuddy and Helen M. Bradley of the local Y. W. C. A, Miss Florence Andrews will ad- dress the members of the Hi-Amo and | Peptimist Girls Reserve clubs at the Y. W. C. A. tomorrow afternoon at 4:15 o'clock, A son was born at the New Britain general hospital today to Mr. and Mrs. Charles Phelps of 41 East Broad street, Plainville, UPROAR IN GOMMONS Adjournment Until Tomorrow Decid- P R Si St U U U v H J |3 IN N N ed Upon Because of Disorder — DL Govt. Fairs to Push Program. Sel s Tondon, April 11.—(By Associated Press)—The house of commons was adjourned by the speaker this evening until tomorrow because of disorders|St speclal stocks which ing operations by the short intercsts, General Electric was pushed up 2% points, dated Gas, Parry sold Call money opened at 5 per cent, Am Bt Sug Am Am Am Am Am Am 8f Rf cm Am Bum Tob . m m Am Wool Erie 1st pfd Gen Electric Gen Motors . Goodrick BK Gt North pfd Insp Copper ... Int Mer Marine . Int Mer Mar pfd Pacific Oil .. Int Paper .. Kennecott Cop.. Lehigh Val Mis Pac . Pan Am P & T Penn R R Pittsburgh Coal Ray Con Cop .. Reading . Royal D, N Y .. § South Pacific .. 9 South Texas Co Texas & Pacific Tobacco Prod .. Transcon Oil .. Union Pacific .. United Fruit .. United Re St .. Utah Copper .. Willys Overland ‘Westinghouse Gult States Steel 991 National Lead . Aetna Life Ins .. Am Hardware Am Hosiery .... Bige-Hfd Cpt com Bills & Spencer com Bills & Spencer pfd . Bristol Colt's e Conn Lt & Pow pfd Eagle Lock Fafnir Bearing . Hart & Cooley . Landers, Ing was not causing any liquidation In the balance of the list, speculators bld up covers- began to induced r the advance Pacifie, Consoll- and Martin higher, Canadian Mack Truck 1 to 1% points Low Close 44 4“ 945 05 % 178 178 14 14 13215 132% 63 63 78 18% 290% 304 1221 122% 152 High 44% 96%% Tel & Tel Aob .. cTp & 8 At Guif & W I. Baldwin T.oco .. Balti & Ohio .. Beth Steel B .. Consol Textile . Can Pacific .. Cen Leather ... Ches & Ohio .. Ch Chi Rek I & P. Chile Copper Chino Copper Consol Gas .... Corn Prod Ref .127% Crucible Steel Cuba Cane Sugar 18 12% L1501 3414 703 23 327% . 281 . 27% 66% i Mil & 8 P. . 19% 183 183% 15% 38 131% 37% 9% 39 . 48% .39y 143% . 50% elly Spring T'r 68% 408 . 653 id States Oil .. 11% id Steel . . 32% . 16 Y Cen | . 93% YNHG&H.. 18% orf & West ,.111014 orth Pac . T4% ure Ofl 2T% 11 453 L 18% 64 1is-Chalmers t Nickel . 1101 4% 26% 68% 45% 12% 63 143% ' T5% 6 508 34 89% 33 121% 58 25 83 114 136% 173 9% 661 60% 105% 118 7015 T% 59 97% 128% 110 4% 27% 69%% 45% 123 ep I & S nclair Oil Ref Radl udebaker Co 122% 25%e 84 118 137 173% 8114 8 Indus Aleo 68 S Rubber Co 61 8 Steel 1063 8 Steel pfd .. 1183 0% % 59 128% (Putnam & Co.) Bid v 730 . b5 . 44 Asked 735 57 50 Brass Arms fd Bec Lt F . R Montgomery com .. 9 R Montgomery pfd .. N B Gas B Machine .. B Machine pfd . les-Be-Pond com North and Judd ‘| Peck, Stow Russell Mfg ovill Mfg . N E Tel Standard Screw anley Works ... o JUDD & Members New York Stock Exchange MEMBERS HARTFORD STOCK EXCHANGE HARTFORD: Hartford - Conn, Trust Bldg., Tel. NEW BRITAIN: 23 West Main St,, Tel, 1815, We Offer and Recommend: American Hardware Corp. NEW BRITAIN New Britain National Bank Bldg. Telephone 2580 Members Hartford Stock Exchange We Offer: 50 FAFNIR BEARING 50 LANDERS 50 STANLEY WORKS HARTFORD 10 Central Row Telephone 2-4141 Members Stock New York Stock Exchange Donald R. Hart, Manager PRICE ON APPLICATION -JOHN P. KEOGH Member Consolidated Stock Exchange of New York Waterbury Danbury Middletown STOCKS BONDS New Direct Private Wire to New York. G. F. GROFF, Mgr.—~Room 509, N. B. Nat'l Bank Bldg.—Tel. 1018 Bridgeport SOLVE your money problems the Beneficial Way—on a self-respecting business-like basis. We lend to persons of good character up to $300 at legal interest rates on home furniture or secured notes, repayable on convenient terms. Phone 1943. Greatest in Service and Resources Beneficial Loan Society New Britain 87 West Main Street Chinese Naval Squadron Revolts From Peking Govt. Shanghai, April 11.—(By Associa ed Press)—In a manifesto issued to- | day, the first squadron of the Chinese navy, stationed here and consisting of one cruiser and four gunboats, de clared its independence of the Peking government and called on the entire navy to join the revoit. Stay of Execution Today Washington, April 11. — The su- preme court today denied the appli- cation of Irederick M. Dyer and 14 other Boston members of the Bay State Fishing Co., for a stay of the execution of the sentence imposed |upon them by the state Massachusetts upon their GUION—1In |services will be held at {cemetery chapel, New | Thurs afternoon at | T0 | has been debt settlement which is lrroarhmg completion. Britain, courts of conviction ofhav ing created a fish monopoly. DEATH NOTICE New Haven, April 10, 1923, Franklin Wells Guion in the 73rd year of his age, Conn., Funeral Fairview on 2 o'clock, | Friends are invited to attend. STUDY DEBT FUNDING | Washington, April 11.—The Ameriq lean foreign debt funding commission called to meetnext Monday to give further study to the British now ape Stanley Works pfd . Torrington Co com . Traut and Hine .. Travelers Ins Co Union Mfg Co .{currently, by Judge Howe In federal court today. There were three other counts to be heard and when Assistant District Attorney Cohen wanted one count held over because vital evidence was lacking the court said the man was,_entitled to a speedy trial. The prosecutor €ould not say when the evidence would be forthcoming and the court ordered the jury to find the accused not guilty on these counts, Ribicoff Arrested Again For Failure to Mark Car Samuel Ribicoff, who was dis- | charged upon payments of costs in | police court this morning by Judge | George W. Klett on a charge of vio- lating Section 42 of the motor ve- hicle laws which calls for the weight and capacity of a tguck being paint- er or printed on the side of the car, was arrested at aboul 1 o'clock this afternoon by Policeman Thomas Feeney on the same charge. He will be arraigned in court tomorrogs morning. RELEASED IN MURDER CASE., New York, April 11.—Rosario di Lorenzo, Jersey City barber's assist- ant, who had been lheld with his em- ployer, James Blandino, in $50,000 bail as a material witness in the mur- der of Mrs. Blandino and Mrs. Ethel Phillips of Bayonne, N. J., was re- leased today. Blandino still s held. in the chamber. The adjournment interrupted the governments effort to obtain the adoption of a motion to the one on which it was defeated last night Too Much Trouble at Home, Man Murders Whole Family | Seattle, April 11.—M. Efec, a sec- ond-hand dealer, early today shot to death his wife and three daughters one an infant, because he was “tired of 80 much trouble at home.” est nomination vote for this position by ‘the borrowers or stockholders in the bank. $10,000 Maximum. “Heretofore the maximum amount which might be loaned to any in- dividual by the federaW land banks has been $10,000. Thisthas been In- creased to $25,000. Also the purpose for which mortgage loans may be made has been broadened to include [the repayment of any existing indebt- edness. “The federal reserve act is amend- ed by broadening the definition of what is called agricultural paper, making it Include the grading and processing of agricultural products by co-operative marketing assoclations. Heretofore the federal reserve banks have not been permitted to discount agricultural paper for a longer period than six months. This period has been increased to nine months. “A large number of state banks are not now members of the federal reserve system, some of them be- cause their capital is not large enough to meet the requirements of the law. An amendment to the federal reserve act carried In this bill is designed to encourage small banks to_join the system. A bank which has capital equal only to 60 per cent of the cap- ital redquired of national banks may now be admitted, if within a rea- sonable time the capital will be in- TODAY'S TREASURY REPORT. U. 8. Treasury-~Balance, $516,640,771. YESTERDAY'’S REPORT. | U, 8. Treasury-—Balance, $521,225,176. YALE - HARVARD RACE Cambridge, Mass., April 11.—An. nouncement was made at the Harvard athletic assoclation today that the Harvard - Yale varsity four-mile race on IFriday, June 22 on the Thames river, New London, would be rowed down stream at 5 p. m., standard time. If a postponement is necessary it will be announced at 4 p. m. and the race will be started at 6 p. m. or as soon thereafter as the referee decides. The morning races will he rowed up stream from the submarine base, the first of the two-mile contests he- ing at 9:45 a. m. and the other haif an hour later. The freshman and second varsity events will be held in the forenoon. TALKS OF YELLOW PERIIL San Francisco, April 11—Returning from several weeks' visit in Honolulu, U. 8. Senator Irvine L. Lenroot, Wis- consin, declared the Japanese ques- tion is becoming a real menace to the Hawaiian Islands and to the United States itself. He advocated ‘‘some kind of action by congress to safe- guard Hawaiian and American in- terests.” Detly 1ACa (ao0ve,, 10Ty wus a very close friend of Dorothy King, slain Broadway butterfly, New York police are looking for her to reveal incidents in the past life of the mur- dered beauty. OPPOSES TAX CUTS NOW Washington, April 11.—Belief that it would be inexpedient for congress at its December session to undertake revision of the federal tax laws was expressed by Senator Smoot, republi- can, Utah, who is in line for the|Lightship No. 90 which sank off chairmanship of the senate finance |Nashawena island on March 6 was committee after a discussion ‘of the |floated today and towed into this port. laws today with President Harding. 8he has two large holes forward. Visit Our Store Before Buying Your Furs HUDSON FUR SHOP 13 Franklin Square Seste e N gt Batcriny o e e LIGHTSHIP REFLOATED. New Bedford, Mass., April 11.--