New Britain Herald Newspaper, August 4, 1923, Page 11

- - FARM OUTLOOK CRITICAL, IS OPINION OF ROGER BABSON B Wellesley Hills, Mass., Aug. 4. — Roger W. Babson {ssued the following statement today regarding the crop situation. Mr. Babson is not as bear- ish regarding the immediate condi- tlon of the farmer as are many of his contemporaries, but he.does feel that the farming situation will reach a crisis this fall. \ “Twenty years ago the great news {tem effecting industries, commerce and business in general was the monthly report of the crop situation. For days before these crop reports were issued, bankers, manufacturers, and merchants would speculate on thelr probable figure. For days after these crop reports were issued news- papers would have editorials and comments thereon. I well remember when the telegraph lines and the tick- er service would be held up pending the issue of the monthly crop report in Washington. Such an interest, however, no longer exists. Crop re- ports are now issued without much comment, - There is little or no sus- pense and speculation. Whether we have become Nardened,to the situa- tlon or whether more important things have come into our lives, only the future can tell. ¢ “Crops, however, are still a very important factor for they are the basis of American prosperity. Unless the farmer is prosperous, the nation cannot be prosperous. Nearly a third of our population is depéndent upon the crops for its income, especially on such crops as wheat and corn. If these farmers cannot ‘make money, they cannot buy goods. The farmers supply the greatest buying power of the country. When the farmer loses money, the buying power of the coun- try is seriously curtailed. This is one of the great reasons for the bearish attitude taken today by financiers. The farming centers are depressed It is possible, of course, that condi- tions during the next few ‘months may entirely change the situation for the better, The only point I desire to make is that the farmer has reach- ed a very critical period and the next few months will determine whether a year of effort will give him a profit or a loss. A bushel of grain must bring in exchange-~that is, in other goods—as muchy as it brought in pre-war times before this country can have real, prosperity, At the close of the war America was raising the grain for itself and a large part of Europe. Since the war Europe has seeded down large areas and has correspondingly increased production of grain, Other countries, such as Canada, the Argentine and Australia, owing to cheaper labor costs, are competing keenly with Am- erican farmers and are under selling American grain in Liverpool, the wheat market of the world. Asa re- sult, the American farmer is facing a bumper crop and at the same time carrylng over about one hundred mil- lion bushels from last year's crop. As it is very difficult to increase the con- sumption of wheat through any ad- vertising or other propaganda, this puts our American farmers in a very critical situation. Hence, during the next few months the crop reports, not only of this country but the other great countries, should be studied very carefully. The American farmer should not yet give up hope. As stated, something' may happen, in this or some other country, which may en- tirely change the situation one way or the other. One thing, however, we all should keep in mind, namely that un- less the farmer is prosperous the rest of us cannot be prosperous. Hence, it is up to all of us to help the farming situation in every practical way. “This agricultural situation is large- ly responsible for the drop in the Babsonchart from its high point of 119% above normal in March to 49 below normal where it stands at the present time. The truth is that the farmers are greatly curtailing their buying and this is being reflected throughout all industries. When the farmer stops buying from the retail- er, the retailer stops buying from the jobber, the jobber stops buying from the manufacturer and the manufac- turer shuts down his plant. It is easy to tell them that they must suffer with the rest, but the fact is that the farmers are suffering more than the Are you persuaded that a Checking Account at this Bank is the proper way to handle the payment of your taxes, in- surance, clothing and household bills? Why take the unnecessary risk of carrying loose money around with you when you can just step in any time and make a deposit, secure a check book and then pay all bills by check and at the same time have a clear receipt and record of all. BURRITT MUTUAL SAVINGS BANK BRITAIN DAILY HERALD, SATURDAY, AUGUST 4, 1923. rest. Moreover, the action of the stock markets and commodity mar- kets today s largely due to this suf- fering of the farmers.” 30,000 IN GEMS STOLEN FROM SHIP Strongbox Looted as Captain Sleeps Peacefully New York, Aug. 4—Capt. Leon O. Everett, commander of the steamer Boswell of the Lamport & Holt Line, after docking at Cranberry street, Brooklyn, slept so soundly in his cabin Thursday.night that he had to call on the police yesterday to inves- tigate the theft of $50,000 worth of diamonds and $600 in cash from a strongbox in his cabin. The first mate, also a sound sleeper, lost jewelry and about $100. The diamonds were a consignment from Santos, South Brazil, to New York banking houses. Before turning into bis bunk, at 11 o'clock Thursday night, Capt. Everett placed two pl.ckageq containing the gems in a chamois bag. One package held cut diamonds worth $30,000 for the New York Trust Company. The other contained uncut stones worth $20,000, consigned to Ladenburg, Thalman & Co., bankers, 26 Broad street. Then he placed the bag in the strongbox, with $600 of his own money, and locked the lid. He put the: key in his trousers pocket and hung the garment on a hook at the head of his bunk. Then, apparently waiting untfl the captain slept, the thieves let themselves in with a key, took the strongbox key from its hid- ing place without arousing the cap- tain and looted the treasure chest. Then they robbed the mate. Capt. Everett, when awakened at 7 o'clock yesterday morning, found the strongbox open. In place of :the gems, he found two empty burlap bags. Te telephoned to Brooklyn police headquarters. Capt. Patrick Randels, in command of the detective division, and his men soon questioned the crew and eliminated them from the list of suspects. The detectives then combed the riverfront for suspicious characters and reported last night they had taken two Porto Ricans into custody and were grilling them. WANT TO FLY? Training Course in Aviation Open to a Few Any New Britain young man who is interested in qualifying for the special course of training offered by the Na- tional Aeronautic assoclation, but who desires further<information, can ob- tain it by visiting Carl Dixon of this city, at present located at the Brain- ard Aviation fleld in Hartford, giving public flights, New DBritain is emtitled to have two representatives at the aeronautic school, where the prize winner will be given a completely equipped plane. At the present time Mr. Dixon is flying the L. W. F. plane owned by John Thompson and the same type plane owned by Nels Nelson, both lo- 1 men. A third New Britain plane also is at the Hartford fleld. It s an aeromarine machine and is owned by Danny Mack. This afternoon and tomorrow Dixon will make flights at the Hartford field, where every day he takes up several passengers. IN JUVENILE COURT Two gangs of boys who wandered around and got into mischief by en- tering houses unlawfully were haled before the juvenile court this morning and were reprimanded and pluced on probation. TO ASK FOR $85,000 At the next meeting of common council the board of park commission- ers will appear and ask for a total sum of $85,000 to complete improve- ments at Willow Brook park, it is stated today. MOURNING IN PANAMA Panama, Aug. 4.—President Porrass has ordered all ‘flags to be flown at half-mast for the next three days in respect to President Harding. The government offices and schools throughout the country were closed yesterday and business was suspended during the affernoon. BENAVENTE APPLAUDED By The Assoclated Press, Madrid, Aug. 4.—Jacinto Benavente, winngr of the 1922 Nobel prize for lit- crature was accorded a warm wel- come upon his return today after an absence of nearly a year. Are we counting your dollars here at the Burritt? Ask your friends and see how many of them are putting away their spare dollars at this Savings Bank. Watch how the deposits grow and mark this fact—over $498,000 increase in Deposits during the- last six ponths. All good reasons why you should save here. PERSONALS Miss Helen Smith, 31 Emmons place and Miss Gladys Stevens, 680 West Main strest are sojourning at Block Island, R .1 Robert Vance, pf the Herald staff, and Dugald McMillan, © of Forest street, sailed today for Glasgow, Scotland, on the Columbia of the Cunard line. They will be gone a month or so and visit on the Contin. ent before their return. Misses Agnes Finnegan and Sadie Keevers who have been touring Eu- rope have salled for home. Miss Kitty Butler and sister, Malzie, are on a motor trip to Boston, Mr. and Mrs. Frank E. Dechant,| who motored. here from Reading, Pa., last Saturday, left this morning for New York, from which city they will proceed to their Pennsylvania home tomorrow. They were accompanied by Herbert 8. Dechant of this city, who will spend two weeks at his na- tive home in Mount Carmel, Pa. Mrs. E. M. Winans and daughter, Miss Jean, of 575 Stanley street, left today for an extended visit to Pleas- ant View, Westerly, R. I, and New- port. They expect to return about September 8. Policeman and Mrs. Thomas J. Feeney and daughter, Margaret, will leave today for a two weeks' vacation at Myrtle Beach. Mrs. S, Wice of 43 Dewey street is spending a week's vacation at Myrtle Beach, Milford, Conn. Arthur Kaufman of Glen street is spending his vacation at Ocean Beach, New London. Mr. and Mrs. Harold R. Brum. baum of 32 Norden street left today for a vacation at Atlantic City. Miss Anna Gill of 310 Washington street left today for New York, where she will spend a week’s vacation. Dr. Fred P. Lee, superintendent of health in aPterson, N. J., is spend- ing the week-end at his home here. Mrs. Lee is recovering from a recent operation. Harry Burdick, son of J. N, Burdick of Grove Hill, has left for his home in Seattle. He will visit Washington, D. C., St. Louis and Yellowstone park. Miss Huldah Johnson of Maple street and Miss Stanquist of Sheffield street are spending their vacation at Lake Pocotopaug, East Hampton. Mrs. Frank Riley of Harrison street and sister Miss Nellie O'Connell of Union street are spending their vaca- tlon at New Hartford and Norfolk, Conn. Mr. and Mrs. T. F. Markham and son, and Miss Mary M. Kiniry, will spend the next two weeks at Silver Beach, Milford. The Misses Nellle Garrity of Kensington and Rene Doherty will visit them during their stay. ONE YEAR FOR A DESERTER. Lawyer Who Evaded the Draft Found Guilty By Court-Martial. New York, Aug. 4.—Samuel Feld, a lawyer of 99 Jackson street, Passalc, N. J.,, was sentenced to one year in prison and dishonorably discharged from the United States army yester- day when a general court-martial, appointed by General Bullard of Fort Jay, Governors Island, found him guilty of desertion. Feld registered for the draft in 1917 and then was granted six months’ leave to buy hides in Brazil. When the leave expired he secured succes- sive extentions from the American consul at Buenos Aires, contrary to the regulations of the draft board, and returned to the United States after the war was over. His brother, Carl, will be tried for deserion next Monday. LAST WEEK IN DRY GOODS. Current Sales Increase, But Road Or- ders Decline. Chicago, Aug. 4—Marshall Field & Co., in their weekly review of the wholesale dry goods trade say: “Current wholesale distribution of dry goods was in excess of that for last week and the corresponding week a year ago. “Orders from salesmen on the road did not reach the volume of a week ago and were slightly less than last year for the same week. “There were fewer customers in the market than during the corresponding perfod in 1922 “Collections were about equal to last year.” ’ Returns Louise Groody McGee, actregs wife of Willlam McGee, partner in the Fuller-McGee brokerage house, has just returned from Europe, hoping to ald her husbagd. McGee and Fuller were convicted on a bucketing charge, following fallure of their house. WALL STREET STOCK EXCHANGE REPOBTS Am m Car &Founl5s Cot Oil 4% Loco .. L T1% Smelt & Ref 64% Am Sug & R.cm 68 Am Sum Tob .. 17% Am Tel & Tel..122% Am Wool ..... 84 Anaconda Cop . 89% Atchison T & SE 95% AtG & WI.... 12% Bald Loco ....112% Balti & Ohio .. 46% Beth Steel B .. Con Textile . Can Pac .. . Cen eLath Co.. Ches & Ohio Chi, Mi1 & St P 15% Chi Rock I & P 20 Chile Cop . 208 Chino Cop . 17% Con Gas ... 603% Corn Prod Ref..118% Crucible Steel . 59 Cuba Cane Sug. 8* Endicot John .. 65% Erle .o000. Erie 1st pfd Gen Elec Gen Motors .... Goodrick (BF) Gt North pfd .. Inspir Cop Int Mer Mar Pac Ofi ... Allis-Chalms Int Nickel . . Int Paper ..... 32% Kelly Spring Tim 30 Kennecott Cop.. Lehigh Valley .. Middle States Oil Missouri Pacific 9% N Y Central .. 96% NYNH&H.. 11% Norfolk & West 100% North Pacific .. 56% Pure Oil 175 Pan Am P & T 58 Penf R R Ray Con Cop .o Reading . Rep I & 8 Royal D, N Y .. Sinclair Oil Ref 318 South Pacific .. 847% South Ralil . 30% Studebaker Co 102% Texas Co Trans Oil . Union Pacific .. United Fruit ...166 United Re St .. 69% U 8 Indus Alco 44% U 8 Rubber Co 38% U S Steel U S Steel ptd .. Utah Copper .. 58% Willys Overland 7% Westinghouse .. 55% Gulf States Stesl 68 59 6% 5% 126% (Putnam & Co.) Bid Aetna Life Ins Co ...775 Am Hardware Am Hosiery Bige Hfd Cpt Co com HO Billings & Spencer com Billings & Spencer pfd Bristol Brass Colt's Arms Conn Lt & Pow pfd 111 *Eagle Lock Hart & Cooley Hfd Elec Light . Landers, F ... J. R. Montgomery com J. R. Mongomery pld 107 N B Gas 34 N B Machine .. N B Machine pfd . Niles-Be-Pond com North and Judd . Peck, Stow &g Wil Russell Mfg Co .. Scovill Mfg Co .. Southern N E Tel Standard Screw . Stanley Works .. Stanley Works pfd .... 28 Torrington Co com . 43 Traut & Hine .... . Travelers Ins Co .530 Union Mfg Co Travelers Ins Co Rts 144 CITY ITEMS. carnival tonight, . 44 . 30 . 45 32 . 50 .162 .127 .150 65% , 67 29 45 20 540 45 146 Jr. 0. U. A. M, Vibberts' lot.—advt. The Anchor Brand club of North & Judd Mfg. Co., of this city and the foremen of the Ensign-Bickford oC. of Avon, are holding a joint outing on the banks of the Farmington river this afternoon. Following a banquet athletic sports will be enjoyed. Radio sets and supplies at Morans’. —advt. Gulbransen Player Pianos. Morans' —advt At the meeting of the common council Wednesday, August 15 a pe- tition will be presented by George H. Dyson, chairman of the Soldiers’ Me- morial committee, to have the mem- bership of the committee increased. The committee wishes to add several local people to its number as they feel they are interested in the pro- posed memorial and will be of great assistance. Jr. 0. U, A. M. Vibberts' lot.—advt. Victrolas and Planos, Henry Morans. —advt Have The Herald follow you onj your vacation, 18c a week, cash with order.—advt. carnival tonight, WILL FACE NEW CHARGES White Slavery Alleged In Whitfleld Case Cleveland, Aug. 4.—Joha L. Whit- field will face charges of white slgvery and violation of the Dyer motor vehi- cle theft act if he is acquitted of the murder of Patrolman Dennis Griffin, The charges of violation eof the Mann act will be hased on testimony given by himself and Marle Price, 15 year old Fort Wayne girl during his murder trial. Both have admitted that they frequently traveled togeth. er from one state to another, The Dyer act violation is sald to have oc- curred in Madison, Wis, when Whit. Members Hartford Stanley R. Eddy, Manager We Offer— 100 Stanley Works Preferred % JUDD Hartford: Hartford-Conn. New Britain: 23 West NEW BRITAIN Telephone 2580 Members Hartford Stock Exchange Donald We Offer:— 50 STANLEY WORKS 50 NORTH & JUDD Waterbury Danbury Middletown G. F. GROFF, Mgr.—Room 509, Foreign Exchange to Bank by mail. It is Davis Cup Team From France Starts for U. S. By The Associated Press. - Paris, Aug. 4.—The French Davis| cup team which will compete in the finals in the United States left Paris today en route for America. The| team was depleted by the last minute ability of Jean Boratra to make the trip, business developments interpos-| ing to prevent his going. The team now comprises only Rene Lacoste and Jacques Brugnon, with a substitute in the person of Hirsch, runner-up to Lacoste for the French singles cham- pionship this spring. The team ic| captained by Allen H. Muhr, of the French Olympic committee. SOCIALISTS EXPELLED Rome, Aug. 4—For carrying on a policy of fusion with the other parties | in the chamber, three extreme social- ists were expelled from their party to- New Britain National Bank Bldg. R. Hart, day as it is opposed to all cooperation. | T fleld is alleged to have stolen an au- tomobile in which he escaped te Chi. cago. Whitfleld's murder trial- was ad Jjourned today out of respect to Presi- dent Harding. PUTNAM & CO. Members New York Stock Exchange Stock Exchange 31 West Main St, Tel. 2040 N [T & CO. MEMBERS HARTFORD STOCK EXCHANGE Members New York Stock Exchange Trust Bldg., Tel. 3-6320 Main Street, Tel. 1815, We Offer and Recommend— 100 SHARES AMERICAN HARDWARE %I IIIIIIIIIliliIIIllllIllIIIlllilfllllmllllllllllllfllll"llllllllllllllllllmllll HARTFORD 10 Central Row Telephone 2-4141 Members New York Stock Zxchange , Mahager —— 50 LANDERS, FRARY & CLARK WE DO NOT ACCLPT MARGIN AOCOUNTS JOHN P, KEOGH Member Consolidated Stock Exchange of New York STOCKS BONDS Direct Private Wire to New York Bridgeport New Haven N. B. Nat'l Bank Bldg.—Tel. 1012 The Hartford-Connecticut Trust Company Old State House Square, Hartford, Conn. Safe Deposit Boxes, $5.00 and upwards. all parts of the world. LETTERS OF CREDIT — GENERAL BANKING safe and saves time. o ____________________J TO PROCEED WITH WORK At a meeting of the board of charis ties last evening it was voted to go ahead with the plans for a new build- ing at the town home, following the ote of the city meeting board to is- sue notes for $66,000 for this purpose. Architect Ludorf will put the plans in shape to ask for bids. The board as a whole will comprise the committee, according to Chairman W. F. Man- gan., GOLF MATCHES A match that caused considerable interest among local golf enthusiasts was played ‘over the Sequin golf course yesterday afternoon. A foure- some made up of “Willie"” Whalen, as- sistant at the Shuttle Meadow club and Louis Jones, defeated ‘“Alec™” Bird, professional at the Sequin club, and F, P. McDonough. Whalen made a par score for the course, Have You Seen the New Buick 7’