New Britain Herald Newspaper, December 22, 1925, Page 21

29 | SPECULATORS HLD NEW BRITAIN DAILY HERALD, TUESDAY, DECEMBER 1925, of the plan of INTO PIT OF DEPRESSION |thg jroieue of the government an ald 1t in overcoming its financlal dis. tress iy receding. Two big French in- dustrial assoclations, the General Federation of French Producers and | the National Association for Eco- | nomic expansion, are declared to be appeared, | throwing cold water on the project. B | They hold, it Is understood, that the Parls, Dec, 22 (A —The plan might be worthy of the adhe- optimism which followed an- | gion of all the F'rench industries, but the Wall Street Briefs — —— - -t Desplte the statement of Sir | gu Norman, governor of the | of England, that he had con York merely for his custom- ]n«-unu--mrm as o final touch to and not as the|drick of Norwalk Dee. 14, according | basls of a financial reform plan elab- [to a finding made publie today by | orated by the government. Coroner John J, Phelan, | The cabinet also is reported to be | 10 EMPLOYES SATURDAY | budget. The members of the loft car- B tel are taking strong exception to the el Ne proposal to increase the rate of the t to the federal reserve bank, Wa will result in foternational develop- | Pmcwls Durmg Day \ chamber, The budget arrangements [ are again to he considered by the |{Enents cabinet, but as more pressing busi. Chiet Clerk | ©uc of the blg problems which 1 ness will taka precedence today, an- |1ikely to engage his attention will : other meeting of the cabinet will be {Involve Great Britain's partlcipation | York, Dee. 22 (M- Specula- required before a declsion can be ar- In a projected $100,000,000 Garman | AN me ndyunee, repminediicons [raasieed e Hu:;(q the price movement in today's A Tt o e © ey, |Stock market after an early period | HotE s Vol ed betore tha sk music, dancing and entertainment. s almultaneons " aftenoy | Bear traders, taking advanta was the introduction yesterday oo LA EL BRRIULEEL ST STl made in the European cani. |!1¢ S call money rates and M. Doumer in the chamber of a biil | %/a/led in the lobby of the hotel to- and whon the loan develops, [PTCHt breakdown of the lut SERTag for rotlibeatrcrod v (b lesrs@ay i gl e 8 P& ottations for a settlement of the an- | Ty on the country's business for| The hotel management announced T SR LA 3 this morning that George W, Pon rather fr during the ["AN these considerations miade|tius has becn appointed chief clerk. bt ofterings were generally v sorbed, Weakness persisted in a few is- sues, National Cloak and Sult break- ing 45 points to b9% and the pr themselves evident fn the exchange | Mr. Pontlus came to New Britain D e T L edatn and beginning Christinas day will be | [°Fre1l stock of $100 par and $500 314 to 02 both w o low He ; DRIVER EXONERATED | Do clerk ot ‘w‘ru?ll“:rr:':lr”?‘q"r:; AR O s aenn, bk & : Bridgeport, Dec. 22 (P—There 1 | gl Southern, \ d States Distributing ind 1 fyers “B" also werw 3 no criminal responsibility for the POSY SHOP |death of Timothy Francis McCarthy, 89 West Main Street, Professional Bldg. Telephone 886 [ |63, of § Chapel strect, Norwalk, who Hopa That Financlal Muddle May Be PUTNAM & CO MEMBERS NEW YORK & HARTFORD STOGR EXCHAMGES I WEST MAIN ST. NEW BRITAIN= Tel. 2040 PAKTTORD OFFICE € CENTRAL ROW TRA, 1: ke Cleared S0on Now Has Dis- Annual Christmas wave of Frolle—George Pontlus Becomes the N New TELEGRAPH FLOWERS FOR CHRISTMAS The far corners of the world are as near to you as Bollerer's Posy Shop Two Hours Service to All Parts of the World our own greenhouses OPEN CHRISTMAS MORNING BOLLERER’S 'CUT FLOWERS ' AND PLANTS FOR THE HOLIDAY A Christmas party will be given the employes of the Burritt hotel by the management Saturday night from § o'clock until midnight. The | New ors for We offer 50 Shares of Scovill Mfg. Co. of | ¢ ape st ne- sold stocks Swedish-Amerlean Corpora- < been incorporated by orporation Trust company of America to deal In securities of a Delivered fresh to you from market yesterday, and the franc lost | Night auditor when the hotel opened |50 3 (R NG SEEE TR G EC a part of the ground it gained in|in March, 1924, Ile later became o, shares participating pre- last week's spectacular rally, night clerk, then day room clerk | °* ik i g NEW YORK HARTFORD STOCK JUDD BUILDING, CHANGE CHANGE PEARL ST, Cor. lewlis St HARTI'ORD, CONN. TELEPHONE 2-0281 New Britain: Burritt Hotel Building. Tel. 1818 Meriden: 33 Colony St. Tel, 1340 lowtt nomis CARDINAL SCES POPE . ¢ rothers, | 4 ) ‘Rome, Dec, 22 UPh—Pope Plus to- | ff"rgfl' LS R sumption of hullish op- dny granted an audience to Cardinal L {erations in several speclalties and a Hayes, who is hero for the closing 1000 before paying federal fyiap gy demand for high-grade indus- n a preliminary The Telegraph Florist of New Britain was siruck and killed by an auto- pe mobile driven by Chari Hen- !¢ emonies of holy year, New Issue Preferred as to dividends, and at §62.50 per share and Common Stock, no par value COMPANY The Connecticut Electric Service Company owns all of the Common Capital Stock except directors’ qualifying shares o the following seven companies operating in the State of Connecticut: The Connecticut Light and Power Company The Eastern Connecticut Power Company The Meriden Gas Light Company The Meriden Electric Light Company The New Milford Electric Light Company The Woodbury Electric Company The Westport Electric Company The Company also owns practica ly all of the Capital Stock of The Bristol & Plainville Electric Company and al! of the Second Pre- ferred Stock of the Connecticut Light and Power Company. The stocks of tge operating companies owned by the Company are valued at over $29,500,000. BUSINESS The operating companies owned by The Con- necticut Electric Service Company serve di- rectly or indirectly 78 cities and towns in important industrial sections of Connecticut having an estimated population of over 645,000. The territory served includes the compact manufacturing district of the Naugatuck Valley, the cities of Waterbury, New Britain, Meriden, Norwalk, Putnam and Bristol and at wholesale the entire eastern section of the State, including the cities of New London and Norwi Nine plants of the operating companies have a generating capacity of over 206,000 h.p. of which 199 is hydro-electric. For the twelve months ended November 30, 1925, the output of electricity was 418,515,065 k.w.h. and gas sales 759,391,200 cu. ft. Estabrock & Co. Chas. W. Scranton & Co. 90,000 Shares No Par Value The Connecticut Electric Service Company Cumulative Convertible Preferred Stock $4 Dividends Payable January 1, quarterly CONVERTIBLE SHARE FOR SHARE INTO COMMON STOCK VOTING TRUST CERTIFICATES and in liguidakion to payment at $68.00 per share,and accrued divicends if voluntary, 1 accrued dividends (f involuntary. Redeemable at $68.00 per share and accrued dividends. The dividends on this stock are exempt from the present Normal Federal Income and Connecticut State Taxes. HARTFORD CONNECTICUT TRUST COMPANY, Hartford, Conn., Transfer Agent UNITED STATES SECURITY TRUST COMPANY, Hartford, Conn., Registrar . Mr. Randal Morgan, President of The Connecticut Electric Service Company, describes this stock upon completion of this financing as follows: CAPITALIZATION THE CONNECTICUT ELECTRIC SERVICE COMPANY (Upon completion of this financing) Cumu'ative Convertible Preferred Stock, no par value (this issue) 90,000 shares 625,000 shares THE COMPANY HAS NO FUNDED DEBT EARNINGS The balance for dividends of The Connecticut Electric Service Company for 1925 (November and December estimated on the present vol- ume of sales and demands for additional ser- vices) amounts to $1,501,656 or more than 4.17 times the dividend requirement of $360,000 on this issue of stock. The balance applicable to the 625,000 shares of Common Stock for 1925 amounts to $1,141,656, or more than $1.82 a share. At the present time 84.37, of the consolidated gross revenue is derived from the sale of elec- tricity to 88,354 customers, 12.29, from sale of gas to 25,562 customers, 2.3, from transporta- tion service and 1.2% from miscellaneous sources. EQUITY The proceeds of this financing will be used to pay in part for the acquisition of stocks of operating companies and for other corporate purposes. The Company has no Funded Debt. A substantial equity junior to this ssue is provided by 625,000 shares of Common Stock, representing a large cash investment. MANAGEMENT There will be no change in the management. The Connecticut Electric Service Company and the properties of the operating com- nies wiifbe under the direction of men of long and successfu’ experience in the operation of important public utility properties. All or a substantial majority o}) the Common Stock of The Connecticut Electric Service Company has been placed in a Voting Trust, the trustees of which will control the stock for a five-year period with the privilege of extending the Voting Trust Agreement for five years. This issue of Cumulative, Convertible Preferred Stock ir offered subiect to sale when, as and if issued and received by uz, subject to the approval of our counsel Messrs. Day, Berry and Reynolds of Hartford. Delivery of interim receipts is expected on or about January 4, 1926. Price $62.50 per Share flat, to yield 6.40% Putnam & Co. Hincks Bros. & Co. The R. F. Griggs Company The ctalements contained in this advertisement, while not guaranteed, are based upon information and advice which we believe accurate and reliable r— Thursday Evening This Bank Will Be Open From 7 to 9 O’clock For Your Convenience Have You Joined Our Xmas Club Yet? Classes 25c to $10.00 Weekly Get Started Early New Britain Trust Co. stimate, This |yuals eventually a new high record com- |op prjeas upward after midday. h $10,065,440 in 1924 and | y1pgersoll Rand soared 6 % points 52 n 1019, the previous|ys 5 now record prica at 104; Loose record yenr. After Interest charges. |\wijes Biscuit jumped 6% federal taxes and preference divi- |tarnational | Mach |dends are paid, this would leave |yyjle Amerlcan Can, DuPont, Gen- |about £17,150,000 equal to more|eral Electrle, International Paper share on 2,434,524 shares (anq Pressed of common stock, Business than $7 | |nearly 315 points above vesterda = final quotations ‘Extra Dividend Voted Hish 1 | By Commercial Trust Tlesolutions on the death of Dr. \xm Henry T. Bray were adopted at a | \n, meeting of the dircetors of the Com- | A mereial Trust Co., this morning. |Am sug .. The directors at the same time de- |\p sum clared the regular dividend of 1% [\p per cent and an estra dividend of |\ woo one-half of one per cent, pavable | xpacanda December 31, This makes the third | 4 tepison {dividend this year and At GIf & W 1al of 71 per cent ineclu¢ Bald L cent extra and 6 per cent reg dividends in 1925, Close Allis Am Can Laco Smelt a to- per ular | sPreIAu Y. Bosch Mag Can Pac Clies & Ohio e M &8P . CM&SPd1 CRI& Pac Chile Cop Colo Fuel Con Textile |, Corn Prod Cosden Oil [Dav Chem Erie SIRoT. { Frie 1st pfd . Gen Gen Maotors . Gt North pfd . Tnsp Cor Sl lnt Nie! irt Pap . DIVIDEND the Yale Towne Mf of Stamford h received n | dend of $1 per share has been d | edared. It is payable today to stc | holders of record on December 10. cor ¢ also announces the \ » Barrows Lock Co., of Lockport, 11, and Sager Lock Co., | of North Chicago, I, and the Mil- {ler Lock Co., of Philadelphia, Pa. D BISHOP TO U. ¢ 22 (A)—The Hol manian Orthod 4 to send a resi the United States his headquarters in Fleetrie 1147% 8014 4l Hartford Stock Exchange Quotations FURNISHED BY JUDD & COMPANY Burritt Hotel Building BANKS AND TRUST COMPANIES FIRE INSURANCE COMPANIES Bid | Ask LIv. | Payable © Capital INSURANCE COS 630 | 650 ) | Hartford ¥i 660 | National Tire 2,000,000 550 | 895 5,000,000 AND INDEMNITY COMPAN IES oty £30 1725 rUBLIC l \ L I UTILITIE 12 10 | | Southern New Eng. Tel. 144 TaaRive MANUFACTURING COMPANIES n Hardware € 98 | Standard Screw Com | tanley Works Com. ley Works Pfd T ¥ 1 3 Y T | Union Mfg, | Whitlack Coll Plpa ACTIVE NEW YORK BANK AND TRUST Exchange Nat'l 5| COMPANY STO( el 1 ! National m-Phenix N mical Natlonal Corn Exchange | Equitable Trust | Equitable Trust | Farmers Loan & Trust First National s s | as) 660 | 6901 URA NCE COMPANY ¢ 15 1 1) 8 1 178 | Globe & Rutgers Great American Hanover Ina. Home Ins Ine. Co. of N. 44% ex. Sept. W, * . Lawyers' Tr . Juan. 3, 1924, turned the course Steel Car gold 215 to | A" Co,| W® can't accept concessiona We Extend the Season’s Greetings Burritt Hotel Bldg., New Britain lel. 2580 MEMBERS NEW YORK AND HARTFORD STOCE EXCHANGES - Donold R Hart, Bigr. WE OFFER Travelers Insurance Company Price on Application WE DO NOT ACCEPT MARGIN ACCOUNTS EpDY BROTHERS &@ HARTFORD NE\Y BRITAIN Hartford Conn.Trust Bldg. Burritt Hotel Bldg. Tel.2-TI86 Tel. 3420 WE OFFER 50 Shares LANDERS, FRARY & CLARK 50 Shares AMERICAN HARDWARE 50 Shares TORRINGTON 50 Shares STANLEY WORKS CUMULATIVE CONVERTIBLE PREFERRED STOCK to yield 6.40 per cent e | We must depend upon our nationa] i':fr\Hh if we want to live. We must | choose between slavery and vodka.* Kelly Spring Kennecott Cop. 63% | Lehigh Val . 845 e pfd ... 41% 3 3% | 1 States Ofl. 1 Lead 1651 164 v Haven .. 44% 44 & West .. 147% 1467 Pa Ty 75 Pacific Oil .. {Pan American : Penn Railroad 537 63y | New PERC &I., Plerce Arros Pure Oil Rep 1 & 8 itay Copper Royal Dutch . air Ofl .. th Pacific South Railway Studebaker Rockefeller Foundation Plans Scholarships Melbourne, Australia, Dec. 32 R e Rockefeller Foundation of York has offered to establish |recripocal research scholarships somewhat similar to the Rhodey ships, between American anq istralian universities. Profesgoy peland of Melbourne university been {nvited to the United Statey to arrange the details of the plan, |and the university council has grants | ed him leave for the visit. To qual, | ity for scholarships students mus | have graduated in economics anq ‘rmumf-rre. and must do research 4 | work. | | $ | [ i [ | | Death U= ] TREASURY STATEMENT { Byrde i Tomrie Treasury balance . $367,580,06 Myrtla M, Brayne, aged 84, of it 15 Whiting street died today af BALANCES ’ ¢ Britain General hospital e cek's illness with pneu- @ had been employed by American Hoslery Co. ) Besides her mother, Harrlet § Brayne, she is survived by foun brothers, Frank, George, Harolq and Frederick, and two sisters, o 2 e m Wiech and Mrs. Morq Order Causes Famine 3leasner, both of New London, »— body is at the undertaking liner | Parlors of Joseph T, Haffey on Tha funeral will by rsday morning at 9 o'clocy rom St. Mary's church. Intermeny vill be In St. Mary's cemetery, monia. § 4, Dee. demand by the for three pounds of flea be used street Rotter r am for the benefit of a cargo of silver foxes brought in this ne had on board o United ¢ v t proximity voyage as to require e fore ey could be la | whols town of Plymouth had to be | Funerals searched before the order could be | L= | completely filled. Frank Vica e b T | * Funeral services for Frank Vica of {Vodka or Slaverv Was 40 Union street, who died at the New | SN s ys_ |Britain General hospital Sundaw Russia’s Choice—Stalin | morning shortly after his removal ‘ Moscow, Dec UP—Explaining | there from the Town Farm, way he reasons why the soviet govern- | held this morning at 7:30 o'clock af ment had allowed the resumption of | Blogoslowski's undertaking parlors, the sals of vodka, M. Stalin et the |and at 8 o'clock at St. Andrew'y ! ess of communist party | church. Interment was in 8t said that as a had failed to ob- | Mary's cemetery. tain loan abroad, the government | vas obliged to seek revenue from its | cwn sources and therefore had de- (———* 1 to revive the vodka industry. me people,” Stalin declared, who | |is ona of the leaders of the com. | Us . ' { munist party, “think you can make revolution with kid We have This is and! terms from foreigners that will enslave us. gloves. no loan: UNDERTAKES ne 1625-3 Opposite St. Mary's Charch ' 11 Summer 86 - 16233 a mistake,