New Britain Herald Newspaper, April 9, 1924, Page 13

NEW BRITAIN DAILY HERALD, WEDNESDAY, APRIL 9, 1924, 9 " |into a.joint stock c:y:;::y l:d;n:;” VOTES BY WARDS | | ‘ty tems “It is Not our intention thus to de- | EXPERTS I]Efi"]E g:-i;re Gel;l‘nany ;;r am adThy!"fim"‘ There will be a meeting of A. G. her railways in favor of the allies, i 4 ; Second Third Fourth Fifth Sixth [Hnmmond auxiliary at 8 o'clock this On the contrary our plan demands | ening in the state armory, only a modest return on the capital | B W ANIAE Join Morans’ Easter Music Club,~— cost, and 80 long «s this returr is| . W. ALLLY | 808 1518 815 97 651 ¥ aovt. fortheoming we do not anticipate any | i i | (Continued from First Page) : [ | Dr. R. J. LeBeau, an interne at the referred to the finance seetion of the |interference in the German manage- league for arbitration. ment of the undertaking.” German's railroads, estimated by i ,Railway Management the experts to be worth 26,000,000,000 The railw s arée to be managed £0id marks with a net earning capa- |by 2 board of 18 directors, of whom city as high as 1,000,000,000 gold [hine will be chosen by the Gerpan | marks yearly, were found to be an |8overnment and the private holders available means for securing Wepara- |0f preference shares, and the other tion payments and aiding German |nine will be named by the trustee of tnances. The experts propose a [the bonds to be issued amounting to tlanket mortgage of 11,000,000,600 [11,00,000,000 go!d marks, five of whom | 50ld marks on the entire German rail- |[may be Germans, The chairman of road system, bearing 6 per cent inter- [the board and the general manager of st, with 1 per cent sinking fund an- |the railways will be German. wally, Regarding contributions from the ! The interest and sinking fund en |various German industries, the report ihe mortgage, they figure, represent says: "The committes has been im- less than 3 per cent on the entire |pressed with the fairness, and desir- cupitalized value of 26,000,000,000, abllity of requiring as a contribution Full interest will not be required @ur- |to reparation payments from German ing the period of reorganization, but |industry a sum of not less than 5,- the payment of 330,000,000 marks will |000,°00-000 gold marks to be repre- Ye asked in 1924 and 1928, which the sented by first mortgage bonds bear- axperts think ought to become nor- ing five per cent interest and one per ijol vears, cent sinking fund per annum.” German industry under the plan is It is pointed out that the industrial xpeetad to provide 5,000,000,000 gold |concerns have profited in many ways narks, represented by first mort| through the depreciated currency, jonds bearing the same raté of inter- st as the railroad bonds. This imount, the experts explain, is less han the total debt of thé industrial mdertakings in Germany before he xar. The interest on thesé bonds will be wald on a progressive scale, beginning he second year with two and one- half per cent; five per cent the third to bear. year and flve per cent plus one per Treaty Payments ‘ent sinking fund, the fourth year, In The provision contemplated by the Ihe event of default in the payment|committed for treaty payments is as |vances made by thé German govern- ment and by the depreciation of {notwithstanding some losses incurred |by these indugtrial concerns, the apm- |mittee feels that the burden imposed Jf the interest on the sinking fund or |follows: “Budget moratorium period: | prineipal upon either railroads or in- | First year from foreign loan and part | Gustrial bonds provision is made for|interest (200,000,000) on railway {he recovery of he deficiency from the bonds, a total of 1,000,000,000 gold (i4rman government through the com- mark issioner of of controlled revenues. |on railway bonds (including 130,000, Proceeds, /000 balance from first year) and in- Summarizing the pn;eeeda from all [terest on industrial debentures and | the provisions in the plan fog treaty budget contribution, including the sale payments, the experts estimate flm;or railway shares, a total of 1,120, ey will produce 1,000,000,000 gold 000,000 gold marks, aarks he first year, 1,220,000,000 the ear, 2,000,000,000 the fourth year, industrial debentures, from transport md 2,600,000,80, the maximum pay- tax and from budget; a total of | nent to be required from Germaay [1,200,000,000 gold marks, subject to innually, the fifth year, and there- |oontingent addition or reduction wot | ifter, exceeding 250,000,000 gold marks, Murch Gold Abroad. Reginald McKenna and his eol- bonds and industrial debentures, from cagues on the second committee find transport tax and from budget, a to- hat the Germansghave six and three- tal of 1,75,000,000 gold marks, sub- \uarters billion gold marks abroad [ject to contingent addition or reduc- \nd that all this sum represents pur- |tion not exceeding 250,000,000 gold ‘hases of paper marks at a dead loss | marks. ; sy a million of foveigners. These es-| “Standard year: Fifth year, from limates were made on a mass of de- interest on railway bonds and indus- teils and specific information which trial debentures, from transport tax the experts réegard as reliable, They and from budget, a total of 2,600, find that, in addition to these usv-u{uno,nao gold marks.” abroad, there ls in Gérmany forelgn | With a view to making certain that money approximately to the amount not only does Germany meet her pay- | of 1,200,000,000 gold wmarks, while ments but that the possible surplus is foreigners own in Germany property |actually established, ,the report:say : | o the amount of 1,600,000,000 gold |*“We are convinced that some kind of A. M. PAONESSA, d. ...... 811 INew Britain general hospital, has res such as the long delayed payment of | taxes by subsidies granted and ad- {emergency money which they issued, | {by'the plan is not too great for them | Second year, from interest “Transition period: Third year, | second year, 1,450,000,000 the third |from interest on railway bonds and | |Fourth year, from interest on rallway | H. E. GARDINER, fI. .... 30 TAX COLLECTOR B LOOMIS, v, ......... 1516 B. LOOMIS, d. +.ovvvnisnns 770 TREASURER C. L. SHELDGN. T2 <vvvn.ns C. L. SHELDON, d COMPTROLLER H. L, CURTIS, r. . H. L. CURTIS, d. ... BOARD OF RELIEF WILLIAM SCHAEFER, r. . B. 0. MOREY. I\ ......... MICHAEL J. M'CRANN, d. L. P, MANGAN, d. . SCHOOL COMMITTER E¥FIE G. K]MBALIJ.—P. . M. D, SAXE, r. W, J. LONG, d. .ivvvnnnns REGISTRAR OF VOTERS W. 3. ZIEGLER, r. ........ T. 9. SMITH, do vvvveenens TOWN CLERK 'A. L. THOMPSON, r. ...... A. .. THOMPSON, d. ...... SELECTMEN L. W. LAWYER, r. .......[ A. N, ANDERSON. 1, v.000s M, T. KERWIN, d. ....... JOHN BALDYGA, d. o101 6030 . CONSTABLES J. A. ABRAHAMSON, n ... G. A. STARK, r. . FRED WINKLE, 5845 3818 T 3835 MAYOR A. M. PAONESSA, WARD REPRESENTATIVES First Ward. COUNCILMEN N. C. Avery, r. . | Daniel Sullivan, d. . J. I, Callahan, d. .. ces Second Ward, ALDERMAN H. T. McMahon, d. James A. Coyle, F. S, Cadwell, r. Edward H. Christ. r. | Harold J. Josephs, d. . Fourth Ward, | ALDERMAN J. G, Johnson, r, V. W. Watkins, d. COUNCILMEN | €. A, Carison, r. H. N. Robertson, r. Vidward Scalise, d. senne Thomas Firth, d. .......... Fifth Ward, COUNCILMEN ¥. A. Murphy, r. ... 120 Frank Gromko, r: . 473 | E. T, Ringrose, d. ... 13340 ¥, Howard Smith, d. . 1288% Sixth W turned from a vacation spent at Paws | tucket, R. L. Home cooked lunches at Crowell's. —advt i Commissioner of motor vehiclies has | notified the local polico that the ! operator's license of Silvio De Risio of |25 Lee street has been returned. | New Brunswick records every week at John A. Andrews & Co.—advt Catherine Dyson, colored, of Ber- in, was arrested this afternoon by | Constable Frank Brown of the Berlin police force, charged with drunken- ness and breach of the peace, She was lodged in the New Britain po: |lice station, awaiting f(rial in ti Berlin town court this evening. See Mary Elizabeth, new exclusive I'ress Shop for your new Spring <ass W. Main St., Professional Pag.— advt, Protest meeting—Against “wccina- tion, Lyceum Theater, SunRy afters noon, April 13. Admission free. Everybody welcome.—=dvi, The Ladies' socie*™ of the Elim Swedish Baptist church will hold ite monthly meeting tomorrow afternoon at the home of Mrs, J. E, Klingberg ol 91 State street. New Process Columbla Record re- leases out weekly. At Columbia headquarters. John A, Andrews & Co. —advh 'rope swned by Abraham Zucke er of 50 Buell street has been trans- ferred to Adolph Passaur through the Harry R. Holland and H. J. Foiren agency. Polish your furniture with our pole ish. C. L. Pierce & Co.—Advt. - Miss Betty €. Wood, niete of Mua J. W. Cariton of 405 Hart street, ha® entered theé Hartford hospital . for treatment, ] | “Linger Awhile,” fox trot, Brunse wick record. John A. Andrews & Co. —advt. . A bieycle he had left in front of his home last night was stolen, according to a report made to the police last night by Peter Turides of 47 Broad street, Victrolas and Planos, Heary Morans —advt. H. Dayton Humphrey sold yesterday to 1. Auselino a building iot om ! Russwin road, for the Russwin Land company. Hear “Al Jolson™ on Brunswiek records at John' A. Andrews & Co.~ advt, . { Carnival and dance given by Fylgis lodge at the Bungalow Thursday and Saturday nights.—advt. K. MARCINESE, ¥, ....01014 DOUGHERTY, d. .... ; 00 JOHN L. ROSS, d. . SRS i 6091 marks, which is subject to special tax- | co-ordination polley with regard: 0 going caloulations gives German for- lcauses, Inflation must be permanently ! PRINT MISS BENNET'S PICTURE ation and rg\l!«‘qu""flv ought to be the exchange lies at the root of the taken into account in an estimate of reparation preblem and is essential to Germany's resources.® 13 Must Attract Capital. As to how German capital abroad the benefit of the allies. may be attracted back to Germany, “The greater the extent to which the experts helieve the only way is 10 payment may be rendered automatic pobri g 1 this causes of the exodus, | atte . | Bold arks, | I dliminate this e e d and a matter of habit, apd be inde.- | K20 (1) De. | considerable part of German assets |hut, N. C., recently She is only 15 that is te give Germany wmoney alpendent g a finctuating “political at- stable basis of value and make it 16 titude tow ards reparation the less MM Germany's interest to pay her,obliga- o the rriction ‘and the greater tions, The only intermediate measurt wi; pe the real stabilify of the Ger. that promises results, in their opinion, | ;nan budget, In the last resort the is to grant amnogty for a limited time |0t soourity s the intercst of the from the penalties imposed for the ex- | Garman government and people to ac- | ort of capital and to give special in- d " | » |cept In good falth a burden which the | 4oy 0nia and Roumanla approximat- | legislation s not required when a0 F5 EEPR TR Gl Tiie Stante ducements for subscriptions to Gor-|yoriq is satisfied will be within their man loana in forelgn currency. . eapacity and to liquidate as specdily Germany needs help from abread 10 oo" pomgible a burden which is and the extent of §00,000,000 gold mArks, | o 14 he enerous.” partly to capitalize the new gold bank Second Committee Report. ¢ 1sue and partiy BY SRS SEPenste Paris, an official summary of the tures during the period required for report of the second committee of ex- her to balanee her budget. The ex- perts follows perts say that extension of this help "x'rr-n-m: together with the share the German | .y " oniives to consider the treasury will have fn interost on the | oo F BTl S the amount of roailroad and industrial mnrt;npr,‘“” 5 rted - capital od of will give Germany 2n incentive 1o ae- |\ e, eIPor e tremdiie 3 | bringing it back to Germany, held 38 cept the plan and earry it out. : . The tdea that Aurplus revenve alons |Meetings in Paris and Berlin, 1t can be supplicd to the payment of Germany's foreign debte is rejected by the Asperts, payments, thay de. elare, ought to be made to her tax- able capacity, and any deficiencies in résources from mortgages must be ade up from taxation. It is a sim- o principle of justice, they point 1t, as contemplated in the treaty, hat the German people should be axed at least as heavily as the peo- ple of the allied countries, and the enly limitations should , be that of practicabili 11923, as that to which its estimates {relate. It is not possible to fix pre- |1nid down maximum and minimum {limits between which the actual amount is to be found Section 1, Method of Work. “(A). While availing themseives of all information the committee reject- ed the method of making a detailed and confidential transactions on the Distinction Made |part of Germans, The experts maka a distinction be- | “(B). Tnstead it adopted the fol- tween the amount of money that [lowing methed: (1) The committee Gormany can vaise for the reparations |estimated the total value of Clerman Account and the amonunt that ean bs | capital abroad at the outbreak of war. transferrad 1o forelgn counttles, Cup- ' (2) Tt estimated the total reduction reney and budget instability might ve. thereof during the war as a result of st from overstraining of her clpac.,adwm trade balance during that ity for making payments shroad. Rep- 'period, advances by Germany to her srations, however, they contend may |olifex, loss by sequestration of proper properly be.incinded in the budget. [ty in allied and associated countries The index of prosperity as interpretad |and loss through depreciation in vaine und applied by the mmissioner” ujof securities. (3) It estimated the to be relied upon to arrive at a pro- total accretions to German foreign per halunce, asse luring the war as a sit of The experts found that Germany sales of German securities, interest tgd been spending without Accuntulations, eale of gold and prof- cMmplete installation of her railroads |its realized from territories occupied s;etém, which has been brought to a by Germany. of efficiency unknown before| “(C) The foregoing calculations re- the war, The traneportation system 'snlted in an estimate of german for- ad industries generally are provided [eign holdings at the time of the ar- vith the most modern appliances, | mistice, and ports and terminals have beer “UD). Since that date until Decem- osténded and improved furnishing ex- ber 31, 1922, methods of increase of cellent sources of revenue and an |foreign holdings ‘have been as fol- lequate pledge, along with monop- |lows tiss, for the payment of reparations. | “(1) Chiefly the direct sale of pa With respect (o the military aspecls per marks and mark bank credits: sanetions and goarantees, the | (2) the sale of goods, real estate, pro- Iinwes report says: “If politieal guar- | cious metals; (3) interest on accumi-¥ ters And penaitics intended 16 en- |iations, tonristy’ expenditures, forcigr <ure execution of the plan proposcd money cxpended by armies of oceu- ra consldered desirable they fali out- [pation in Germany: (4) remittances ihe commiftee’s Jurisdietion, |from Germans abroad, earnings of stions of miiitary occupation al- I'l'{nmpofllflnn comparlies for frans- <o are mot within our terms o1 ref- | pértation for foreign goods, insurance wrénce, T1t, however, is our auty to ts, ete. point out clearly that our forecasts | (E) The causes of decrease are based on the assumption that [the armistice have been as folle sconomie activity will be imhampered | (1) Purchase of imported goods: (2) and unaf@ected by any foreign organi. yments 1o (he AlleS eader the zation other than the eontrols Berlin of Versailles: (3) Germa provided. cxpenditures: (4) interest on “Consequently our plan is based German s wpon the assumption, that existing “(¥F) In meking all eompuiatic:s measures, insofar &8 they hamper that the cemmitice has not relied o offi netivity witl be withdrawn er uffi- cial reports of German Jmworls and rrantly modified as soen &% Germany |cxports fgut revalued the commo Was put inte exsention the planlrvluu on of eurront prices at_pertinent dat recommended.” | . Tn agreement with the railéay ex-! “(C) The Weut of all the fore ince s held abrosd, |any practical gcheme in obtaining the maximum sums from® Germany for {ing to German nationals residing in {Germany estimated at 28 Milliard [ quidation and sequestration measures | [ 16,1 milliard gold marks. (2) Dur- lunder the treaty of Versailles caused | creased assets: (a) sales of mark ¢ 1,120,000 per gistere — - |adopted the date of Decomber 31,1 o nark |uhow 1,120,000 persons registered as clse figures but the committee has inquiry of bankers and business men | |throughont the world as to specific | tara J # son “ - ago "-!vmn holdings as of Deccember 31st, | stopped; the budget must be balanced The “Mid-Week Pietorial,” an il jand a bank of issue on a sound basls | justrated magazine published by the established. | New York Times, prints a ploture of “(D) The committee knows the | yijgg Marian Bennett of this city in ita conclusions of the first committee of ' oyprant fssue, Miss Bennott astounded experts and if effect is given 10| y)0 golfing world by her playing in the | | thelr recommendations it thinks that | north and south tournament at Pine- Section 2. Estimated Figures Assets abroad in 1914 belong- | The war period, | prociption of German assets abroad; non<payment of interest due and Ii- | abroad will roturn to the ordinary |years ojd and is the daughter of | course of trade, =~ President Clarence 1%, Bennett of the | “(E) Austria I8 a case in point | gapley Works and Mrs, Bennott. | whare under a stabilized currency the | - . { | necessities of trade bring back exist- | SPECL I SERVIOES irg the war profits and exploitation | Ing foreign holdings. Tomorrow evening at 7:45 the last of Berglum, northern France, Poland, “(F) While belleving that special | o0 onecigl mid-week lLenten ser vesulted in a loss of approximately ed 5.7 to 8 milliard gold marks; and country's finance is on stable basis » Memorial church. Rev, Dr, George V the sale of gold and of German secur- | nevertheless during ~the perlod of T 5 oe 1o gouth ehureh will bring ities aggregated approximately two transition the committee suggests thut he Lenten .,.-L wge, and Harold Win- milllacd gold marks, | Germany might grand an amnesty for | Lo i 00 g the congregational sing. =) P a limited time to those bringing their | TP " pa 2o i ost war period. (1) Prin- 2 y ing. cipal causes of reduction: deficit in | Capital back, who vielated German | Germany's trade balance and the | 1aW8 in sending it abroad and that meeting of cash payments to the allics speecial terms be offered for subscrip- tions to government loans which arc made in foreign countries.” rwer Children London—The number of children |in the public clementary schools of reductiop of between 9 ahd 10 miliiard London is diminishing, owiug to the goid Warks, Karnings from O fall in the birth rate, and is expect- shipping, insurance, ete, greatly Pewer Unemployed {ed to drop still lower in the ensuing duced. (2) Principal causes of in-| yondon-—Ministry of labor returns | year, { credit bank balances and paper marks | ypemployed In England. This is 130, Best Creamery Butter, G1c 1b.; 3 1bs. resulted in profits of between 7 112 fower than at the close of 1023, )$1.00. Russcll Bros.—advi ! $.7 milliard gold marks. German RS sty —— —- marks purchased by citigens of many | pegt Creamery Butter, ble 1b.; 2 1bs Best Butter, 5lc. Russell Bros.— ceuntries and more than amillion in- gy 46 Russell Dros.—odvt, advt. dividual accounts were found in Ger- | man mark: (b) Sales of gold aggre- gated one and a half milliard gold marks. (c) sale of German real pro- perty and securities to forcigners ap- proximated one and a half milliard goldl marks. “Bection Conclusions as to notint of German foreign held as- sets, (A) “Committee estimates that German capital abroad of every kind whether liguid or in permanent in- vestments was not less than on De- cember 31, 1923, than 57 milliard gold marks and not more that 7.8 mi- liard gold marks and it thinks the middle fignre of 5 milliard gold raarks is the approximate total. This tigure by comparison with the 1914 estimate of German foreign holdings | showe a reduction in foreign holdings of approsimately 21 milliard gold ' marks. “(B) In addition to the Toregoing. foreign currency now in Germany ap- proxim: 00,000,000 gold marke. “(¢) 1t must be remembered that foreigners hold property in Germany which has a counterbalancing effect nd the commitiee estimates the value of such properiy as from one to one and a balf milliard gold mar “Seetion 4. Conclusions as to means Beauties Germany. Use these powders—you will revel in them “(A) Flight of capital was a re By Edna Wallace Hopper suit in the main of the usual cconomi e for years paid $5 per box| There ar ractors, namely, the failure 10 balance or 4 te to get the finest in heavy, 1 us the budget, inflation and the raising . %o do most movie beauties. powder, with of large national loans bhut it was ac- ¥ ha Cream n centunated by t attitude of the Ger- r womer ¥ ne like a powder people toward the payment of and 1o youth. But | without the cold cream rman’s war . ereditors ar v nes of powders. 1 did not had hoth kinds prepared marked by ingenions devices to cvade such powders as_ 1 use « Hoprers 3 restrictive iegisiation. Tt was als 1 at ydo st 4 flwences by the action of sp P s ’ have helped me and timid investors, ot. They neo » « these pos “(B) Neithar Jegal enactraents RO ders ur na price which vere penaltios mgpercd the fight a1l can pa 1 that womer capita) or resulted in the disclosure wonld us e those assole 2 ‘e . ymic aho us o conditions above $ts i mon- get my powd " strated the None <o Fxqu tive legisiati ¥ T These powdors fecld that itwould have becn ine tive whether or not the laws had e . wh s Hoppg, 538 Lake Shore | | COUNCILMEN ALDERMAN Kenneth Walther, r. ... a7y Frank 1. Conlon, d. .... 1723+ Boy Enthusiast Falls P. Francolino, v, ..... 081 Ofi Truck in P'“d. Martin Dahlson, v, ... 5 080 Frank Cronin of 17 Spring street, stephen A, Ly 1725+ an 11 year old youth, was the only Jdohn J, O'Brien, . ... 1724+ | casualty reported to the police as & result of last night's election celebra- *—Denotes those eleeted, tion, Young Cronin was riding on & ————— | truck with other celebrators and when . et s i | passing the corner of Hartford avenue TO ENTERTAIN VISITORS | SUTNEAN street, ho foll off and e The Luther Jeague of the First celved cuts and brutses that necessi« Tutheran church will entertain the tated his removal to the New Britain louther league of Middletown tomor- | general hospital fer treatment. He row evening. A special program has | was releassd from the hospital this been arranged for the entertalnment morning. G. Presta of 165 High of the visitors, This evening a Lenten street, the driver of the truck, reports serviee will be held at the church, od the accldent to the police, TOKIO WILL BUILD MEMORIAL. T0 OBSERVE HOLY WEEK Tokio, April 9.—To preserve the Holy week services will be observed memory of 34,000 persons who per- with union services among practically ished Dby burning and soffocation in|ay of the Protestant churches next the former military clothing depot in | week, with a service in a different Honjo ward the afternoon of the Sep- | church each evening except Friday. tember catastrophe, the city of Tokio pygerent minister will speak. Further .]u:(.].: !(ofwoctl_:_\)-‘m;urml hall to cost | qotails of the program will be ame ,000,000 yen. The holocaust of the | o " » page, appalling incident of Tokio's day of [ o ___ i disaster. Thousands took refuge in the open space of sevoral acressthinking| PBest Butter, 516, Runsell Bros= to escape the flames. A sudden change | advt, of the high wind brought down on the | ees—————— multitude a heavy ecurtain of flame, smoke and gases, killing practically every one of the huddled throng, | | | FURS FOR SPRING Hudson Fur Sh ! 13 Franklin Square There are 271,819 public sehool buildings in use in the United States, Best Dutter, 5le. Russell Bros.— advt Thursday and Friday MARYLAND BUCK SHAD.......Lb. 25¢ w. 30¢ w 35¢ FINNAN HADDIE FILLETS ........ Ib. 250 FIESH SHORE sivER HADDOCK | h 9c | SALMON LARGY .16¢ | S ROCKPORT STEAK Cob ) lsc FRESH BOILING Ll s 8c Pint soc SAYRIOOK FRESH OPENED rLovsm . 120 CLAMS . Pint 280 FANCY ROUND RO SHAD . . CLAMS Quart 256 EXTRA LARGE OYSTE Pint 38¢ BON ' SALT oD 2 1vs, 25(: BONELESS SMO. wWHITErIsn HERRING ....... Lb, 35c I'RESH COD FAT sALT w. 14¢ CHEERS . HERRING FASTERN WHITH TADERWOOD'S CLAM naLmr Ih CHOWDER ... Can 32c SARDINES 5 INOwL .. . 1 Cans 2 c BUTTER and EGGS!! Buy Them Now! Eggs ..2 Doz. 55¢ BOSTON ¥ Erisn LARGE SCALLOPS ... BEST CREAMERY— Butter ..2 Lbs. 89¢ MoHiCA MARKET