New Britain Herald Newspaper, April 22, 1924, Page 15

TALK ON BANKING BY FRANCIS DEMING. Berlin Man Tells Lions What Banks Are and Do At a meeting of the Lions club at the Burritt hotel this noon, Francis P. surer of the Berlin Sav- spoke on “Suburban He said that the savings bank was primarily a New England institution nd that over 80 per cent of the sav- mgs banks of the country were locat ed in the east, the greater part them being in New York, New Jersey, Connecticut, Rhode Island and Massachusetts. Speaking of the main features of a savings bank, Mr. Dem- ing said that a savings bank was more of & cooperat ancial organization than a bank. Explaining this state- ment, id that a savings bank had no capital stock, being made up sim- ply cf the money deposited and that, having no capital stock, the dividends are paid directly to the depos Speaking for thie with wh is connected, th vings bank, Mr. Deming said it was the policy of that bank to pay present profits to the present depnrflnrx, in as far as that could be done. Mr. Deming said that the officials believ s to b the just method of doing business as it was the money of t depositors which earned the profits and it was therefore the rights of the depositors to receive the profits The speaker said that it has always been his belief that the mission of a savings bank is to build up home in- dustries and to create a spirit of thrift. For this reason the greater part of the money the savings ‘anks of the country is invested in ome industries and real estate, Whil such investments are not as liquid as ther investments might bhe, Mr Deming said t in investing money of the savings ks in su a manner they were fulfilling w the officials believed to l‘e the true mission of savings har aking of servi Mr. Deming said t the country endeavor employes as courte at what a bank he o of 1 ba bank ® ks, its and 1as to scil, 18 in a ®ervice, As to the ments of a ngs ank, the speaker said that contrary ‘o the b of many the investing of he depotitors’ money is not solely at the diseretion of the bank officials as hanking laws and rules lai jown by the state commissions which strict the investment of money by a bank, us as possi inves there are closing the speaker turned his altention to the railroad situation in the United States and urged the —_—_—_—_ _————————m—— Plected | represent NEW BRITAIN DAILY HERALD, TUESDAY, APRIL 22, 19%:. the Lions club their n tion as it i8 a question cerned the banks, and the people. The reports of the comimitices se- last week to appoint delegates to the national convention at Omaha Neb., and the district convention at Providence, R. I, were made and favorably voted on. Secretary James O'Brien was elected a delegate the club at the national convention which will be held in June, The club voted to meet 2 month with the Kiwanis and Rotary clubs and the chamber of commerce, as proposed by the merce. These joint held last week members of this m to give erious atten- which financial ost con- house onee chamber meetings will of mor of com- bhe th. the every City Items A. G. Hammond auxiliary will its regular meeting Wednesday ning at § o'clock in the Centennial Lodgze, an Night” tomorrow night in Grotto hall here will be a special mee Harmony lodge, No. 20, tomorrow aft- ernoon at 1 k to attend t! funeral of Harry B. Luce. Pure Vermont maple McE! 's, West g of o'c ¢ sug syrup, roc advt Dog licenses payable no clerk's office.—advt. Franklin Square opans at .m he degree team Will todge wil! hold a evening at 7:30 o'clock M. hall “Rabbit, a Chal to Men," will be the subject of the address to mem- bers of the Rotary c sday noon at the Burritt hotel Sam vel Sternheim of Port C N. Y. Mr. and Mrs, George C. Beckett have returned from their F cation spent at their cottage Are” at Saybrook Heights Chairman W, L. Hatch of the wate hoard spoke on New Brit pumping station vater works conference ausplees of the state hoard at Hartford this mornir The Timmerman in court has been held over for week and will be heard next Monday at Judge B. F. Gaffney. Wessoleck, through Attorr D. Saxe, has entered suit Emilio Primiano W viming damages of $75. The action is over the payment of a note 1legdl to be due Wessole ng Station 0 4 advt Star of Good drill tomorrow in Jr, 0. U, A. enge by Di ster va Ere We case prohate another AW Morris against street ol v of 5000 FOR PRORE April 22 —Expendi- ture of $25,000 for the investigation recently ordered into the aireraft in- dustry was authorized today by the house, L Washington, The visiting card Is of igin. OfficialHartford Stock Exchange Quotations FURNISHER BY JUDD & COMPANY Burril Hotel Building BANKS AND TRUST COS, rst Natlona! d.-Aotna Nat ttord-Conn, T an of Hartferd ust Lo, i | LIrE Avina Ca Aetna Life Cony oral 1 ¥irst surs Martford steam Travelers Coan, General Tig! ity & 8 ta Roile repLi Frars Landers New B Stenda Seante Haniey Fankers Tru fank of N, entral Union al atham Plher cmical Natie Title & Trust an Co. (Rank of) Mechanice & Metals Nat National CY U. 8 Mortgage & Trust Co. ACTIVE INSURANCE AND CASt Amsrican A American & ontinental Tosurance C nee 1ns, € ns Falls 1ns. Co. ilobs & Tiutgers Great American Insursnce ¢ Tanover Insurance Co. (; ome Imsurance Co. Co. of North America Tational Liberty Ine. Co. ( a0 Westehester Fire ine. Rid | Ak INSURANCE COS, 1 AND INDEMNIIY COS, v s ALTY COMPANILS MAYOR APPEALS FOR NEAR EAST RELIEF Issues Proclamation Asking Pub-| lic to Co-operate in Work citi- in the A mation calling upon ns of New Britain to assist Near East Relief drive which will open next Sunday and which the civic committee of the Woman's club is sp was issued at City hall this morning by Mayor A. M. Paones- proc oring, roclamation is as follows: People of New Britain: civic committee of the Wom- b is to conduct a drive for s for Near East l'mnf during the < of April 27—May valuable work the Ncar East Relief com- known to all and it is not ssary me to argue its merits. “As mayor of the city of New Britain, I do wish to lend my hearty endorsement to the movement and I urge upon 1 that their re- rty. This wogk cannot without the assistance not o that is being by for on New Britain should rk. i given nurge that every assistance the committee and that you approval is work cor flr\m'nflr‘ . PAONE " \{a\m president chairman is aiming to ,000 towards the ship load of milk to be sent to the hildren of the Near East by e movie Jackie Coo- of B! Won committee, Bassctte, elub, which of the is of RBoof points t movie t) 1 Wed tiis will be placed at convenlent city in banks, aters and stores esday pesday of next week will be when members of the Wom- h will se!l tags on the street. saturday a group of bovs will sell tags street milk pwi h duly rougheut the 1 sall for the Near Ja Coogan, will accom- it in persor Eugenia 8 RBumgardner the intereste of the drive to a gathering of Catholic 0, U. A, M. hall wraday evening ib of the Stanley pany who the g and T » the Girls' ¢ Works SCHWARM ARRESTED ONLIQUOR CHARGE “Prince Louis” Said to Have Vio- lated Dry Law in New York Har alias eaux de Bourt of I'r We Van de 1 8 e hwarm of New Britain, louis Henri ter- n, lieir to the throne alias the “dishrag prince of alias Dr. Reginald again been arrested $500 for apear- w York, when a charge of vio- de C nee, fare Island,” has bends of in N of ing w‘ prohibition Jaw, discouraged in his efforts n A tea room on the Berlin after he became invol meshes of t aw when his wife npted to furnish the st with ets taken from a Hartford de- ment store where she had been employed 4s clerk, opened a tea room in Greenwich Village, N. Y. And he prospered to the extent that his tea « kne und had cus- for tea located York, and Friday, he These customers iety that simply “come 1, and when they £, it was annomunc 1 a pint of Bourbon and Rchwarm en to the federal buliding, He is charged with the illegal possession n some of tea strect, em warm's roam 1 New midnight in Macdougal were of the va after on e customers it warm 1 tin tl as been much last tun years. One fa n N e4 as a royal person ned and dined by Ha took o him held while o the lime time et fac n Rritain age | New York t ton ory he . and Britain in progress as 1y entitled prosecuted on in failing to give his r nan he was married th “the prinee New Britain, The last tir nneetiont authoritie was the ¢ W 1 to whic and he of by an inve one hye finally a charge iry al «hen ion with the taken departioent store, mounted on arked in the 1 was again ar when wholesale a rds and 1 Jerlin tea re songt is b One ¢ for sale to app s cal most familiar quota- of Schwarm in has been, “bonds tions in the 18t court i two years LLECTION EXPENSES, election expenses v filed with the Ross, democratic ward, received Keeve assistant \mittee, and hn f the town co re freshments and an treasurer in the from the town of Skritulski's Desmond, 4 Wi Ruodnich $6 for rent of tables to ¥. Nifert for Adoiph Car in the second from the town expended it as follows, at 114 Franklin Square Scharman, checker, h, clerk, $6, King » $5, and Iy $2.5 Greenstein, republican sixth ward, received it as follows, G. Gur- s, $16: Anderson Elec- . ommittee nt of w \dolph Grew stor iam wi ciga liam M asurer in the ca ed in' lxHKnon. primary worker, | W. C. A, store at 659 Main nreet, {rent, $10; T. F. McKeon, election | worker, $5; Herman Finklestein, run- mer, $5: postage, $1.50. James Coyle, democratic treasurer in second, received 5 and spent Clerks, $8; cigars, $5; '=’e- $1, and incidentals, $3. << WALL STREET STOCK EXCHANGE REPORTS Ne th-‘ as | follows phone, v York, April 22.—S8elling pru‘ | sure gave a heavy tone to atock prices { which drifted mainiy lower at the .opmwg of today’s market. American Hotel Page Boy to Aid an, Baldwin, American Sugar and U. In Patriotic (ampalgn s Steel held fairly steady but there Conrad Lindelof, page at the Bur.| ™a8 further shading in prices of the ritt hotel, has baen relected as one of | O Fhares. = many boys to make a pilgrimage in Professional attacks were directed { an eftort to have the home of Thomas | #¥4Inst wetk spots In the early trad- e t " e ¢ < x g:ta;’l‘:”ng: ‘:!o;,:e‘;.zr: ‘:::":\1 point or more in Central Leather pre- assisting In this work and are being Ly o canesibom o and Burns Bros. represcnted in the work by one boy | Lo PeF0 TRE WIORS €EmATE S each. Tach boy has & chance to be. | L%.008 featured yemterdsy's market, Sedtod Waras 1’7( Nawirariirotione again vxas_undtr pressure, yielding 113 3 pointa. Although selling was not par- ticularly aggressive in the oil shares, Pan-American “B"” Phillips, Maracai- ing in this movement and for that bo and Pacific Oil moved fractionally purpose, it has permitted its repre- lower. Weakness developed in some sentative, Lindelof, to invite all the sugar issues, with South Porto Rico school children to the hotel Wednes- | Sugar dropping 13 and American Su- day afternoon between 4 and § o'clock gar preferred declining fractionally to and receive free a copy of the Declar- a 1924 low at 85 1-4. Foreign ex- ation of Independence. Mayor A. M. charfges opened higher. Paonessa will be presented with a Wall Street Noon—Short coveris parchment copy of the de tion at l!ater checked the downward move- the ceremony. ment and brought about improvement Lindelot will make a speech to the iM many sections of the boys directing his appeal especially #°!lI"& pressure was renewed. to his former classmates in the Burritt essional ~maneuvers resulted in school. Following the reception, he mixed price movements in the oil and will, with his manager, Miss Helen SUSar groups. On the basis of an in- Pontiua, start on a three weeks' tour Creased export demand for Petroleum through the chain of hoteis conducted ShOrt interests in Standard Oil of by (% Unitsd Hetals Co. | California began active covering, and recoveries of 1 t6 2 points aiso took place in Houston and Mexican Sea- board. Maryland, Sinclair and Tide- water, however, extended their losses. Railroads gave the best display of group strength and a number of in- dustrial leaders, including Raldwin ay. The United Hotels Corp. is assist- Beaths | S— | PUTNAM & CO. Members New York Stock Exchange Members Hartford Stock Exchange 31 West Main St. Tel. 2040 We Offer and Recommend HTFD. ELEC. LIGHT CO. COMMON In addition to the cash dividend of $10.00, the rights attaching to this stock have averaged $10.00 per share per year for many years. JUDD & COMPANY . Members New York Stock Exchange Members Hartford Stock Exchange HARTFORD-CONN. TRUST CO. BLDG., TEL. 2-6281 New Britain: Burritt Hotel Bldg., Tel. 1815 list be fore Pro- | Bond & Mortgage Guarantee Company Lawyers’ Mortgage Company U. S. Title Guaranty Company We have preparcd a five-year analysis of each of the above com. panies, including the business for the year 1923, We invite inquiries, 1and General Electrie scored gains of | Albert 1. Grocock @ point or more, Word has been received from Texas at 4 per cent, of thedeath of Albert I. Grocock, for- merly of this city. He is survived by Mrs. Grocock and two children, also by a sister, Mrs. Mary G. Powell, and a brother, Samuel Grocock, both of New Britain, and a brother, John H Grocock of Torrington. The funeral arrangements are incomplete Call money opened High Tow (lose Am Bt Am Can Am Cr & Am Loco Am Sm & Re.. Am Sg Nf em Am Tel & Tel Am Tob Am Wool Ana Cop Ate Tp & 8 F At Guif & W I Rald lLoco Baltimore & O Beth Steel B Con Textile Can Pacific Cen Leath Co Ches & Ohie Chi Mil & 8t P Cho R Isl & P . Chile Copper Con Gas Cor Pro Re fug Fdy Joseph Chinenz Joseph Chinenz, aged 55, died last night at his home, 91, Ellis street, He is survived by his wife, one broth- er in New York and one brother and two sisters in Italy, He was a barber for a number of years and was well known about the cit The funeral will be heid Thursday morning from his home at 8:30 o'clock and from St Joseph's church at 9 o'clock. Burial will be in St, Mary's cemetery, Willlam Gray Gray, aged 47 years, a na- n\'- r\' |, asgow, Scotiand, died this . Be morning at the New Britain General :r':‘“x:'." Bteel . hospital, He was an iron moulder ang ! LUP® Cane Sugar employed in the local factories. He is' Endicott-John .. survived by his mother in Scotland, 11® ; three brothers and fhres sisters. The Frie 1nt pfd” ineral will be held tomorrow after. G0N Lilcetrie noon at 2 o'elock from Erwin chapel, | Gen Motors Rev, Dr. Georga W. C. Hill will ofi. ' Goodrick BRI , ciate and burial will be in Fairview | Gt North pfd ., cemetery, Insp Copper : Int Mer Mar pfd 2 Pacifie O11 Int Nicke! Kelly Spring T'r 'l k] Kennecott Cop \hl States Oi) 121y 5514 240 314, 200 138 Charles Gilbert Schauffler Charles Gilbert Schauffier, months old sen of Mr. and Mrs, Hen- ry Gray Schauffler of 318 L. n street, died this morning of diphther- fa. The funeral was held this after- noon at 8 o'clock. Rev, Henry Maier officiated and burial was in Falrview = &- \\‘ml cemetery, NYNH&H | - -~ North Pae National Lead ,.12 Pure 0Oil Pan Am six P& T 46N Penn R R ...., 44% Pierce Arrow ., & Pittsburgh Cea] 575 Ray Con Cop .\ 10 Reading 1 Rep 1 & 8 4“" Noyal D, N Y LN Funerals Harry B. TLuce, funeral of Harry R, Lues of Newington will be held tomorrow af- ternoon and will be private. Rev, Henry Martin of the Newington Con- | ginclair Ol Ret 201, :rrga!)flrn‘ chureh will officlate and gouth Pacifis e o services will e held at the south Tail 38 grave. Burial will be in Newington studebaker Co £y cometery, Texas Co 4ne Texas & Pacifie 27 Tobacco Prod T Transcon Ofl .. & Union Pacific The William V. Smith funeral William ¥ wha died in New 1as 120 urday at the New Haven hospital. 1* & Indus Alco & 1ield this marning fre mthe home 17 & Rubber Co of hix brother, Harry 8mith of Bas. ' 8 Stee] sireet Mr. Bmith wae a former U7 8 Stes] pfd resident of New Rritain, leaving here | Utah Copper abeut 30 yrars ago to go to New Ha- | Willys Overland He was connectsd with the | Westinghouse service bureau at Yale university Natlonal Lead Besiden his brother, Harry ived by three sisters an A and 1. €mith of Los Angeles ter Matry Dolorita of Laurelto Milford; thres brothers, Thomas | of Tridgeport, John 1. of Hartford and . E, Smith of T.os Angeles A high mass of requiem was cele. | brated in £t Joseph's church at 9 Rev, Patrick Daly was cele. nnd Rev, Joseph K of fAaureiton hall was seated in the sanc. tuary. Miss Laura Farrell sang “1 Come 1o Thee,” as the hody was he. ing taken from the church. &mith 4 LTEN . 96 iy 110 L1} f14 597 126% st Mar and hail, S TREASTRY STATEMENT Treasury balance, $883 027 1858 nll CURB RENVIEW York, April \a fairly well held in the trading on the New York Curb Exchange through- out the day, but there was a prevaile ing disposition teo exert pres against some Standard Ofl jssues, dicating an expansion of bearish ac Bearers tivities in that group were Thomas Smith, John Doyle Standard Oil of Ohio advanced to Howard Blinn and William Smith, all Standard Oil of New York + members of Daly council, K €. tn supply and moved up over a poin Tather Kelley conducted ox at | and vacuum oil reflected accumulatio the grave, Bural was in Mary's in an advance of over IS cemetery Prairie Oil and Gas demanded most attention from the speculative group and aft an advance of four points was offered again and reacted from fts high Anglo-American was steadily moving up to abo New 22 uts were brant Iey ure werti ot one Arline Catherine Zwick e fureral of Arline Catherine Zwick, aged 8, daughter of Mr. and Mrs. Jacob O, Zwick of 69 Farmington aven 6 died at the New. Brit 16 1 Oil pf Car general hospital yesterday will be held | International um made 1t 3 o'clock tomorrow afternoon from erate gaine ¢ late home ea will be eon Tndependent O Tucted hy e T. Stecges, pastor they have done during of St Matth Latheran unsettiement h. Bu Falriiew Creek producers moving up about o cometery point and again selling aheve 24 a there was a steady demand Lago and Mutnal Of bo Imperia r ght, e ~trole me c German s i firm ae A -'N rial the period of ih other stocks, Salt will he in Charles F.. Kempsh eral of Charies E. Kemp- ndustr 78, who dird yesterday will %k tomarrow after Porter Sons funeral Rev. William First Baptist the servies The ial insnes were irregular. T shatl a " stocks showed heat 1 be held at neon from B, C rooms on Court street Rose, pastor of the mrch will officiate urial will be in Fairview cemetery, —— 'H A. HAFYEY uneral Director Mr. Paul Robinson. Assistant NEW LOCATION—385 MAIN ST. Opposite St. ry’s Church Tel—Parlor 1625-2 Residence—17 Summer St. Tel. 1625-3 2 o'cloc again we there was some which yileided about one and Manhattan co P ng Tiquidation in Trabilter Hud- 1 Hud traded wter. voint 201 at enn rtrrred re in from 3 day’'s highest range in the market that the buying of preferred, 18 in anticipation of distri- bution of ite holidays of Hudson and Manhattan shares, It was insisted that this would be a reasonaple result of the accumulation of HudSon company preferred, by new alse have acquired the hattan common stock market. ssiny Thowe concerned ke state Hudeon company JOSsE Hudson in the Man- open intarests which may | Burritt Hotel Bldg., New Britain Tel. 2580 MEMBERS NEW YORK AND HARTFORD STOUK EXCHANGES Donald R. Hart, Mgr. We offer and recommend:— F CONSOLIDATED GAS ELECTRIC LIGHT & POWER (CO. of Baltimore, 6';% cumulative preferred at 101 and accrued dividend to yield 6:457 J,0. JOHN P. KEOGH Members Consolidated Stock Exchange of New York Waterbury STOCKS Bridgeport Danbury BONDS New Haven Middletown Direct Private Wire to New York F. GROFF, Mgr.—Room 509, N. B, Nat'l Bank Dldg.~Tel 1013 b - G, EDDY BROTHERS & @ HARTFORD NEW BRITAIN Hartford Conn, Trust Bidg. Burritt Hotel'Bldg. Tel.2:718 Tel. 3420 100 shares NORTH & JUDD to yield approximately 71429 AUSTIN & KRON 107 BOOTH'S BLOCK Phone 3045 7% First Mortgage Bonds The Hartford-Connecticut Trust Comgany 0Old State House Sqoare, Hartford, Conn, Safe Deposit Boxes, $5.00 and upwards. Foreign Exchange to all parts of the world. LETTERS OF CREDIT — GENERAL BANKING Bank by mail. It is safe and saves time. hief of Poli of New Britain, time for registration expired iday, May 1, 1924, and failure to or before date means nill have to ($1.00) in gister on that he owners of doge Dollar ay a addition to The fine of One the regular fes, Town Clerk's office will bs open Eaturday and Monday evenings ive dog fees, in addition to the gular hours Dated at New Britain day of April, 1924 ALFRED 1 to rece this 23nd THOMFPSON, Town Clerk. HENRY CLEWS & CO. Members N. Y. Stock & Uotton 11, 13, 19 BROAD ST, New York STOCKS & BONDS LETTERS OF CREDIT ISSUED orrespondence Solicited in gold s ha boen donate of the ve affair, wh a *o the public society h in charge of hope will prove e and are they = admission is jnvited.—ad City : Ad!ert_iment NOTICE TO DOG OWNERS, Attention & calied to the law con- ping the registration dogs as shown by the posters issued by the car of