New Britain Herald Newspaper, October 19, 1923, Page 3

ROGER BABSON DISCUSSES COAL SITUATION THIS WEEK (@usted Locally Omiy by The Herald), Wellesley Hills, Mass, Oct, 180 There seems to be plenty of coal ae- cording to & statement issued today by Roger W. Babson, the statisticlan, who has fust completed a survey of the coal situation “A year age, this country was emerging from the chaos of the great bituminous coal strike of 1922, says Mr. Babson. “The output for practi. cally § months, April through August, was held on a minimum level, As & result the total production of bitumin. ous coal last vear was the smallest in twelve years. Not only were stocks | of eoal low, but transportation faelli. ties were unable to meet the urgent demapd from manufacturing interests Tt was difieult to obtain prompt and adequate deliveries. Consequently, prices of coal soared and remained high during the fall and early winter period “The average price of soft coal in| October, 1922 was $4 40 per ton at a4 level 266 per cent over r average. Today, we find v conditions. A strike this yrar was avolded and production held on practically a record basis. During the. first 230 working days of this vear, the output has exceeded 413, 435,000 tons, against 271,015,000 tons during the same period last year, In faet, we have produced more coal to date than was brought to the surface Aduring the antire 12 months of 1922, the exact figure for last year being 407,894,000 tone, TIncidentally, the output this year has been exceeded only once in the history og this coun. try; that was in 1918, when 579,385, 000 tons ware produced. It is not sur- prising in view of current figures that commereial stocks of bituminous coal have jumped. Statistics show that on feptember 1, stocks were estimated at 56,000,000 tong, or the highest volume since April, 1922, Present stocks rep- resent an increase of 85 per cent over the low last March and 300 per cent over a year ago. ‘“The effect of excessive soft coal production, large and increasing stocks, diminishing, indnstrial demand and relatively favorable railroad con- ditions has been pulling . the price level down month after month. With little interruption, p".‘!s have con- tinued downward since August 1922 Today, the price at the mines is ap- proximately $2.40 per ton, or 100 per cent over pre-war levels, compared with 266 per cent a yeer ago. Econom- ically, there cannot be a further price decline. In fact, conditions point toward a firm price level over the fall and winter months. We are now entering the period of maximum consumption and the customary sea- sonal strain on our railroads. - Stock protection over the fall and early win- ter peried should not be postponed. “So far as the securities of coal companies are concerned, there is no occasion for anyone to become op- timistie. To be sure, in the list of stocks and bonds of companies repra- sentative of the soft coa! industry, there is wide variety. The stocks of the older and better known companies are, by no means, low in price. In view of the general trend in the specylative markets, there is no incentive for purchasing. For the long pull, stock- holders must bear the brunt of the NojCorns The simplest way to end a corn is Blue-; _}y Stops the pain in- stantly, Then the corn loosens and comes out. Made in clear liquid and in thin plasters, The action is the same. Bfi:e-j ay She Shows Good Taste! A‘fl'RACflVfl.Y clad ankles win admira- tion. And we have just received a shipment of thebestlookinghosiery youeversaw! It’sEver- wear Hosiery, which means that it is eco- nomicallylong as well as beautiful. Come in and examine our many new styles— JAY’S 238 Mzin Street HOSIERY HEADQUARTERS Sruggle which the Industry faces againat the pressure of rising costs union demands on the one hand, and a condition of ever-preduc- tion combined with ipereasing favor for ofl as fuel to limit the selllng price pon the other " ids fseued by a coa! mining company can hardly be pald to have the qualifications commending them to eonservative investors. In the frst place, the mining industry represents a llquidating propesition, that s, each ton of ceal taken out, reduces the a #ets ultimately available. Serial my turities, or a sinking have been adopted in some cases to meet this objection, But such a fixed charge entails a serious depletion of | working capital in times of full oper. ation and makes the cost of .coal mined practically prohibitive in times of severe competition. In any event it must be obvious even on casual re- flection that, after a period of years of large demand and gond prices for coal such as we have had, any new expand mining A large inventory, “Under the presant outlook for busi. ness the Babsonchart shows it this week at 10 per cent below normal, 1 would rather have the bond of the power company or rallroad which uses the coal than to cast my lot with the fortunes of the coal mining indus. try." TLarge Number of German Rallroad Workers Seeking Positions, Dusseldorf, Ruhr Valley, Oct. 19— Thirty-eight thousand German rail- road men in the occupied area applied for places under the Franco-Belgian rallway regime Wednesday, it was announced at the headquarters of the ocenpying forces here. PORTIONS IN A PACKAGE DELICIOUS FLAVORS TO CHOOSE FROM MY-T-FINE DESSERT At your grocer D&C—D&C-D&C Remarkable Values ' For Saturday SATURDAY—LAST DAY OF TRIMMED HAT SALE Group No. 1 TRIMMED HATS $3.00 Values to $5.95 HEADQUARTERS FOR MILLINERY SUPPLIES FELT and SPORT A large selection to choose from. All desirable colors and BUY YOUR HAT AT REDUCED PRICE SATURDAY SATURDAY—Last Day To Buy VENUS SILK STOCKINGS | at $1.95 These Stockings Are Guaranteed to Give Satisfaction Sold Regularly At $235 fund charge, | 'of Of these ten| , Afteen thousand o!| aumber of municipal court justic Ludwigs- | testity | in the hafen and fve thousand at Duren The applicat were filed for con sideration by competent authorities and the applicants will be informed within a few days whether they will be employed or not. It i understood that only native Rhinelanders will be taken Inte the serviee, just now at !Itul and that the French and Rel. sitions. roop mnnoL BETTER German Cm‘u;-l. Especially in Re. | gard fo Potatoes. Tmproved. | Berlin, Oet. 19.-~The good situa- Ition in Germany, as far as potatoes | areconcerned, took a turn for the bet. yesterday with the announcement that the orders prohibiting exporta. and Stlesia to other parts of Germany had been rescinded. The agricultural sections of Fast Prussia and Silesia are the chief sources of the potate supply of Perlin and other industrial centers The provisiona of the decree forbid- ding exportation te fereign countries stil] atand, ; 11 LIVE IN 38 ROOMS, Steamheat, Investigators Find, New York, Oct. 19.—The story of the poor man with little money and many children and his battles for a decent home was told yesterday by soclal workers at the state housing committee's hearing. With the social workers came representatives of clvie Headache Toothache Colds Pain 177 Main Street (Next to Clark & Brainerd’s Drug Store) Group No. 2 TRIMMED HATS $5.00 Values to $7.50 HATS for Saturda styles. the city. | gians will retain all the directive peo- tion of the tubers from East Prussia| And Without Running Water or| CHILDREN'S HATS $2.95, $3.95, $4 95| |$1.95, $2 95, $3.95 New Children’s Hats have arrived garding housiag oo rer section of the eity | feh Village. in whose tum ble-down tenements poor families at one time could And rooms at reasona ble rental, has become & high-priced | | section where oniy the wealthy and ‘bu Wage earners can live, the hostess of a community house in the village | testified. Conditions on the sast side ere described by Rosalie Manning of | Waomen's City elub, who mention. | ne case of & family of 11 living in| small rooms, without running| water or steamheat ! €. 4. CURTIN'S REPORY | Plectrical Tnspector Cyrll J Curtin | issued 564 electrical permits during the first half of the flscal year, a re. port covering that peried which he has fust completed, shows Included among his inspections were the following: New houses, 177, old houses, 345; garages, 72, |schools, 3: gas stations, 22; signs, 8; stores, 61; theaters, 1: factories, 6; decorative lights, 5; dairies 5; stores, {12; elub rooms, 2; specials, 18; ware. house, 1; fee house, 1: fixtures, 11; oll heaters, 9; battery stations, §; un. derground service, §; fire department | | reports, 3. | e ——— This Winter keep etficient take SCOTTS EMULSION Proved safe by millions and prescribed by physicians for Neuritis Neuralgia j ° Accept only ‘Bayer” package i W which contains proper directions. || Handy ‘Bayer” boxes of 12 tablets | : Also bottles of 24 end 100—Druggists. | Asplrin 15 the trade mark of Bayer Manufacture of Memoaceticacidester of Salleylicasid l Lumbago Rheumatism ”M Shop During : I the Day Group No. 3 TRIMMED HATS $7.50 Values to $12.50 y. Largest variety in Black and Ten Other Colors _ Sensationsl One Day Sale Of Suites John A. Andrews & Co. Join Qur Magee Stove Club Now FREE Call At Qur Store For " Particulars ——— Coupol ————— JOHN A. ANDREWS & (0. 132 Main St., New Britain Please send information regarding Magee Stove Club Plan. John A. Andrews & Co. New Britain Telephone 72 The Big Furniture Store