New Britain Herald Newspaper, May 3, 1924, Page 15

_ City Items Chevrolet car given away at K. of fair.—advt. » Have your pgfmanent wave for summer put in now. Lucille Beauty ‘arlor, 259 Main. Phone 638—advt. Dancing Wednesday and Saturday ight at Eddie's on the Turnpike, § fcce orchestra.—advt. The Misses Mildred and Lillian rickson of Hart street and Miss sther Anderson of South Manchiester iil spend the week-end at New York. RHODE ISLAND PEOPLE GIVE MUCH 10 ORPHANS More Than §00 Are Being Cared For at State Institutions But at Private Expense Providence, May 3.—Five hundred orphaned wards of the state and all of the employes of the state insti- tutions which are under the man- : . || Wall Street Briefs | | Pool Operations | New York, May 3.—Pool operations are playing a prominent part in pres- [ent stock market trading. Strength |and activity of a number of special- {ties whieh are showing large current |earnings and prospects for further improvement is directly traceable to | pool buying, which has been encour- |aged to some extent by relatively low money rates. Indications that not all ' agement of the state public welfare [the activity is on the constructive side, STILL OPEN T0 DOUBT xySIbfll!y of Producing ,Nitrogen ‘‘rom Air Not Proved. Army Ex- pert Testifies Today. Washington, May 3.—Major Gen- ral C. C. Williams, chief of army | rdnance, told the senate agriculture committee at its Muscle Shoals hear- ing today that the feasibility of pro- ducing nitrogeous fertilizers by fixa- ! tion of atmospheric nitrogen for use in this country *“is still open to doubt.” . “While the United States is a heavy importer of Chilean nitr 0 he sald, “it has also become an ¢x- porter of ammonium sulphate, this latter. material being representative of a class of materials most generally | produced by nitrogen fixation. The ' nitrogen fixation plants which have been established in this country are producing ammonia for the high per- fod refrigeration of chemical trade, and have not, as yet, entered the low priced fertilizer market, If the pro- ducts are to be of any material bene- fit to the farmer, they must be sold at prices lower than those as yet at- tained, “At prices existing four years ago it seemed quite probably that United States nitrate plant No. 2 could be operated for fertilizer production on a self-sustaining basis, but there is a chance now of a heavy loss being incurred in guaranteeing to produce a fixed quantity of fertilizer, “It is felt that from the fertilizer ' production standpoint all the pend-: ing offers for Muscle Shoals are of uncerfain value; President Will Review o Conn, Governor’s Guards Hartford, May 3—President Cool idge will review the ‘first and second companies,” Governor's oot Guards on the White House grounds, Iriday morning, according to word received here today. This will be the first time the Fobdt Guard will have been reviewed by a president of the United Stgtes on the grounds of the executive mansion and is belicved also to be the first time that a president has review. ¢d the two companics at Wi vhlnflfnhi Major Lounis H. Stanley commands the fArst comapny and Major E. L, Judge the second. their board or wages from loans made by private citizens Who have come forward to save the penal and charitable institutions of the state from disruption threatened by the long hold-up of the annual appro- priation bill by the democratic fili- buster in the senate. Dr. Asa 8. Briggs, superintendent of the state home and school last night annqunced that he had received from Henry- D. Sharpe a personal loan of $15,000 with which to pay for March and April the board of the 500 orphaned children whom the state has entrusted to 200 familics. These families had gone without any pay for the board of these children since March 1. It was announced by the public welfare commission today that Dutee W. Flint of this city, had agreed to advance his personal funds for the payment of the wages for March of all employes in the institutions under the care of the commission. These employes except the higher salaried ones, had gone without the money due them since March 1 or before. It will cost Mr. Flint about $50,000 to pay them. | Both Mr, Sharpe and Mr. Flint in making their loans unsparingly con- | demned the filibuster of the demo- cratic senators which has held up all | public business in the general as- sembly since the opening of the ses- sion on January 1 and which senators say will continue indefinitely. Mr. Sharpe called the sitvation “a andal to the state” and character- ized the hold-up as “a malfeasance of trust.” Mr, Flint said the demo- cratic senators were ‘not only dere- liet in their duty but a disgrace to the state.” BIG FIRE IN PROVIDENCE Providence, May 3.—The oven shop of the American Enamel Co. plant destroyed by fire today with a loss estimated in excess of $100,000. Seven wooden buildings were saved. The company announced that business would mnot be interrupted, Three alarms were sounded. BANK CONDITIONS New York, May 3.~The actual con- dition of clearing house banks and trust companies for the week shows an . excess in reserve of $17,015,020, This Is a decrease of $1,520,280, Your Fortune:— depends upon your ability TO SAVE—not the saving that some people think is enough—a Dollar or Two put away every six months — but the REGULAR SAVING where you will take a certain portion of your weekly earnings small) every pay d (however large or , and see that IT IS ENTERED on your pass book. This habit once start- ed will produce that Savings Ac- count you have always wanted. Start Tha/t First Dollar Now BurrittMutual Savings Bank the | commission are today being pnid{l!O\\eur, was seen in the fact that |some of the bear pools which expired | May 1 had bheen extended another }lhrve months. | Nickel Plate Report lg The report of the New York, Chi- cago and St. Louis railroad (Nickel | Plate) for the quarter of March 31, | shows operating income of $2,622,580, |a decrease of $190,076 compared with the first quarter of 1923, Operating |expenses inereasdd $130,990. Operat- |ing income for March dropped $245,- 1206, e Injustice To_Stockholders One of the principal objections to the proposed flat increase in commis- sions on stock sales from $15 to $17.50 a hundred shares, apart from {that it would probably restrict the | volume of trading, is the alleged in- iustice to long time holders of stocks that have been &plit up either through stock dividends or a reduction in par value, or both. One broker pointed {cut that an investor who bought 100 shares of Associated oll before it was split up on a four for one basis, paid @ commission of §16 to dispose of 400 res of the New stoek which he re- ed in exchange for the old, ceiy | Show Big Income Net income of $966,984 for 1923 is | reported by the Lehigh and New Eng- and railngad, equivalent to Toxankers {Trust Co.,Yf New York. The output |of steel ingots and castings during I"ebr y increased to 767,600 tons, [compared with 694,300 tons in Janu- ary and 707,100 tons in Iebruary, ! There wera 202 blast furnaces [in operation in Great Britain at the {end of Kehruary, two less than at the [Leginning of the year, Approve Economy Policy The policy of economy being intro- {duced into the railroad ficlds con- [vinces bankers that there will be a decreased demand for equipment fi- nancing in 1924, Some roads like the New York Central are buying exten- sively, but systems not as strong fi- |nancially are reducing expenditures i steadily, It is predicted that equip- ment trust issues will fall to a low level later in the year, Youngstown Steel and Tube Net income of $3,760,634 for the quarter ended March 31 is reported by Youngstown Steel and Tube, equal after preferred dividends to $3.55 a share on the common stock, agalnst $3,210,724 or $3.07 a share in the cor- refponding quarter of 1923, Surplus was $2,276,907 compared with §2,048,- 566 a yu 180, LODGE 40 YEARS 0D Branch of O, D. H. 8, 4 In This City To Observe Aunniversary Tuesday Evening With Supper and Dance The 40th annivérsary of Thusnelda | lodge, No, 1, O, D. H, 8, will be ecclebrated at Odd Fellows hall on Tuesday, May 6. A meeting will be | held at 3 o'clock in the afterneon and a large class of candidates will be | Initiated into the order. A supper will be served and the celebration cone tinued in the evening with a number of sketches being put on by *The Jolly 8ix.” Musie for dancing will be | furnished by Whitmore's orchestra. ‘lloard of Public Works | Will Organize Monday At the suggestion of Mayor A, M, Paonessa, the board of public works will meet next Monday evening to or- ganize, Ex-Alderman Frank L. Con- lon of the sixth ward will be elected chairman, and George H. Johnson, for the board, will be re-clected to that posi- tion. CHILD STEALS $119. | Willimantic Youngster Takes it From Mother and Runs Away. Willimantie, Conn.,, May 3.—Be- | lieved to have been peeved because his mother refused to &llow him to stay wup late Thursday night and | punch hole in the score card party at his home, seven year old Richard Stephen, son of a state policeman at Danielson barracks, arose ecarly yesterday morning and taking $119 from his mother's pocket- | book, started out to see the capitol at | Hartford. He got as far as this ecity when he was turned over to the police when he flashed his roll of méney in a shoe store to pay for a pair of walk- ing shoes. Richard abandoned the trip when turned over to his parents. past four years clerk of the | cards at a| EW BRITAIN DAILY HERALD, SATURDAY, MAY 8, 1924, ” Forgtgn Exchange = - New York, May 8.—Foreign ex- | changes easy. Quotations in Great Britain: demand 438 3-8; cables | 438 5-8; 60 day bills on banks 436°1-8. | France: demand 6.45: cables 6.46. lllaly: demand 4.48; cables 4.48 1.2, | Belgium: demand 5.35; cables 5.36. { Germany: demand (per trillion) 23 | 3-4, Holland: demand 37.39. Norway demand 13.81 1-2, Sweden: demand 26.36 1-2. Denmark: demand 16.89. Switzerland: demand 17.81. Spain: demand 13.88. Greece: demand 2.22. Poland: demand .000012, Czecho- Slovakia: demand 2.94, Jugo-Slavia: demand 1.25. Austria: demand .0014 1-8. Argentina: demand 33.00, Brazil: demand 11.35. Tokio: demand 397%. | Montreal 98 7-16. LOAN IS EXPLAINED British-American Advance To France Was In No Way Contingent Upon Any Favor For Germany, By The Associated Press, Paris, May 3. — The semi-official Havas Agenty today publishes a state- ment which it says is authorized by the foreign office to correct the’im- pression created by an article in a London newspaper to the effect that the recent loan by British and Ameri- can banking groups to JFrance was made only on the condition that France agree to restore Germany's economic and fiscal unity, £ such condition was hinted and in this connection publishes what is says As the complete text of a cablegram sent by the Bank of France to the Ameri- can bankers and approved by them. the sole conditions with regard to the loan, The cablegram follows: “After having conferred with the government I am able to assure you that complete measures will be taken to ameliorate the financial situation, The government will insist that the senate (having already taken a favor- able vote) take a rapid decision ™la- tive to an Increase in taxes adequate to realize the balance of the whole budget and ratify a policy approving for suppression of all new evpendi- tures which are not counterbalanced by corresponding receipts. As long as the financial situation shall have im- proved materially the government will make no new appeal to credit except for consolidation of the floating debt and will make no new loan even for car ed regions, without the assurance of normal budgetary receipts. The Bank of France will continue to support all |the government's efforts and will it- self take all measures within its pow- ACCUSES PARTNER | Former Alien Property Custodian Sucs Him For $2,500,000 He Claims He Took From Business, Pittsburgh, May 8. — Joseph F. Guffey, allen property custodian dur- ing the war and prominent in na. tional democratie eircles, today file® complaint against E. N, Gillespie, his former business partner, chargimg that Gillesple appropriated $2,600,000 of the Guffey-Glllespie Oil company funds to his own use and that of his | wife, He asked the court to require | Gillespie and his wife to pay back | 82,500,000, Recently Gillespia filed « bill against Guffey charging that Guffey was indebted to him and asking for an accounting. Tn his cross bill, Gut- foy denled all the charges made by Gillesple, The partnership was formed in | 1905, and, Guffey complains, he paid 184,658,539 into the compan: | Gillespie contributed $9,264, 11917, the cross bill set forth, Guffey was called to serve the nation as alien property custodian, and management of the business turned sver to Gilles- pie, who “began a wild career of specnlation” the complaint charged, During this period, Guffey claimed, | Gillespie neglected the business of the partners and used the funds of, the company te purchase a home, buy largé blocks of stocks and bonds, and |10 purchase $50,000 worth of liquor | for his homes in Freeport, Pa., and in | New York eity. Guffey asked for an'order restrain- ing the Gillespies from conveying or encumbering real estate purchased | with funds of the partnership, and to require them to return the stocks, bonds, securities, liquor and other ar- ticles mentioned in the bill. MISS HILL IN DRAMATICS Miss Lillla Hill of New Britain, a student at the Boston University | Sehool of Education, recently played !a part in “The Rehearsal,” a farce |given in the Huntington Chambers Hall, Boston. The play, together with two other one-act plays, was present- ed by the Dramatic elub of the Schoo! of Education at its first public per- formance on Monday evening, April 28. A Box All Your Own— Why do you hesitate to be the owner of a Safe Deposit Box in our Fire Proof Vault? It certainly is not the cost, for that is only lc a day. It cannot be because you feel that anyone else can open the box, use you, alone, have the key. It must be that you have not just given it consideration. Come in, sign up, secure your location, get your key, and have that feeling of security that you Insurance now have a place where you can safely put those Deeds, In: Papers, Stocks, Bonds—yes, anything that is of value to you. Visit the New Britain Trust Co. Vault this week. cents: | The news agency declares that no, The ecablegram, it declares, contained | rying on reconstruction in the liberat- [ | New York, May 3.—With a number ! of traders absent over the week-cnd and no definite yew develupments to inflyence the market, stock prices moved in a rather irregular manuer | intoaay’s quict session. Bear selling of some of the volatile specialities in the early trading was checked by a sharp display of strength in Colorado fucl, + which advanced 3 5-5 to a new 1924 top at 397 and inthe shipping shares, | Marine preferred also touching a new high just below 37. Kresge jumped 15 points on a single transaction. The closing was firm. Sales approximated | 275,000 shares. | | High Am Am lAm |Am {Am 'Am 'Am lAm Tob | Am Wool | Anaconda Cop . 321 [Aten T & 8 F.1007 | Baldwin Loco . Bal & Ohio . | Beth Stecl B Can Pacific . |Cen Leather |Ches & Ohio ... (Chi Mil & 8 P. |Chi Rek T & P, 2 | Chino Copper .. | Consol Gas .... Corn Prod Itef. Crucible Steel Cuba Cane Sug. Endicott-John . Erie .. Erie 1st Gen Eleotric . | Gen Motors ... | Goodrick BF Inspiration Cop. | Int Mer Marine. 1 In Mer Mrne pf. | Pacific Oil ..... | Int Nickel ..... | Kel Spring Tire. | Kenn Copper .. ;L»hl‘h Valley .. | Mid States Oil.. | Miss Pacife .. ‘N Y Central ...101 INYNHGE&H. 18% | Norf & West ,.1231% | Nortn Pacifie .. 517% Pure Oil 23 Pan Am P & T. 45 Penn R R 43% Pierce Arrow .. Ray Con Cop.. | Reading .. | Sinclalr Oil Ref. | South Pacifie .. | South Ratl ..... Studebaker Co.. | Texas Co ...... |Tex & Pacific., 28% {Trans Oil ... 1% | Union Pacifie ,.131 {U 8 Indus Alco. 678 U 8 Rubber .... 207% {l' 8 Steel . 90 U S Steel pfd ,.120% | Willys Over 81 Westinghouse .. 58% LOCAL STOCK QUOTATIONS (Putnam and Ce.) Bid .. 070 . 86% Close | 101 Low 101% Smit & Ref. 631 Sug Ref em 43y Sumat Tob. 13 Tel & Tel.126 20% 89 531 841y 405 12014 8ig b6 Aetna Life Ins, C Am., Hardware .... Am, Hosiery .. Bige-Hrd. Cpt. Ce. com 108 Billings & Spencer com Billipgs & Spencer pfd .. Bristol Brass Colt’'s Arms ... . Conn, Lt. & Pow. pfd ... | Bagle Lock Fafnir Bearing Co. . Hart & Cooley ..... Hfd, Elec. Light Landers ¥ TR J. R. Montgomery com .., 90 1 J. R. Montgomery pfd .. 107 N. B. Gas ... N. B. Machine ......... N, B. Machine pfd . Niles-Be-Pond com North & Judd . Peck, Stowe & Wil Russell Mfg. Co. Scovill Mfg. Co. Southern N Standard Screw Stanley Works Stanley Works pfd Torrington Co. com .. Traut & Hine . Travelers Ins. Co. Union Mfg. Co. Yale & Towne ... . 8 TREASURY STATI Treasury balance, NEW YALE APPOINTMENTS Dr. H. B. Richardson Assistant Pro- fessor—Instructors Named, New Haven, Conn.,, May 3—The ap- | pointment of one assistant professor and three instructors to the Faculty of Yale University was announced tos day by Secretary Hutchins, These iii- clude the promotion of Henry Brush Richardson, Ph. D, from instructor | to Assistant Professor of Freneh, and the appointment of the following in- structors; James W. Bronson, M. A, physics: Hemstead Castie, M. A. bot- any, and William F. Adams B. Q., his- tory | Professor Richardson graduated from Yale college in 1909, received | the degree of Master of Arts in 1910 {and the degree of Doctor of Philoso- phy in 1923. During the past year he hi been a student of romance lan- guage in the Yale Graduate school, {in addition to teaching French. | —— | SENATE MAY BE BROADCAST Tt Asks War and Navy Department | It This Is Feasible, | Washington, May 3.—~Under a reso- | lutién adodpted the senate inquired of ithe War and Navy Deparments whether it would be “feasible” to | broadéast its procesdings by radio through government stations. | 1t was proposed by Senator Howell, | republican of Nebraska, and met with instant and unanimous approval I 4 MASTER BLACKSMITHS MEET | Willimantic, May 35.—The state | master horseshoers association heid its 20th annual convention here to- day and it was shown by the reports that some 400 employing horse- shoeers in Connecticut about 320 be- |long to the asdociation. State Presi- | dent John D. Murphy presided and at noon there was a dinner followed by several addresses. EXCHANGE REPORTS § Members New York Siock Exchange Members 31 West Main St Tel. 2040 WE OFFER AND RECOMMEND- 1 West ‘Kentucky Coal Co. First Mort- § gage 79 Sinkirg Fund Gold Bonds, Tax refund in Conn. to net 7%. Y D COMPANY Members New York Stock Exchange Members Hartford Stock Exchange. HARTFORD-CONN, TRI'ST CO. BLDG., TEL. 2-628% New Britain: Burritt Hotel Bldg., Tel. 1815 [T HARTFORD CITY GAS LIGHT CO. Whined 6 Years, 1918 - 192 Availalile for Dividends | Preferred Dividends Balance for Common Common Dividends paid .. .. Balance to Thomson, Tfenn & Co. Burritt Hotel Bldg., New Britain . Tel. 2580 MEMBERS NEW YORK AND HARTFORD STOUK EXCHANGES Donald R. Hart, Mgr. We Offer: AMERICAN HARDWARE FAFNIR BEARING STANLEY WORK TORRINGTON Prices on Application JOHN P. KEOGH Members Consolidated Stock Exchauge of New York STOCKS Bridgeport BONDS New Havén Direct Private Wire to New York F. GROFF, Mgr.—Itoom 508, N. B. Nat'l Bank Bldg.—Tel 1013 G NEW BRITAIN Burritt. Hotel Bldg. Tel. 3420 Waterbury Danbury Middletown G, EDDY BROTHERS & HARTFORD Hartford Conn. Trust Bldg. Tel.2:7186 We Offer:— 100 Shares New Britain Machine Common AUSTIN & KRON 107 BOOTH'S BLOCK Phone 3045 7% First Mortgage Bonds The Hartfo.d-Connecticut Trust Company Old State House Square, 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. Vegetable Seeds For Best Results Buy Bulk Seeds ‘ou are sure of fresh, new seed of high ger- mination—More sceds for your money Rackliffe Bros. Co., Inc. Park & Bigelow Sts. Agri. Dept. For