New Britain Herald Newspaper, January 5, 1928, Page 15

NATIONAL DEBT GUT BY BLLION N 127 Financial Pesition of Country Reported Strong Washingten, Jan. 5 UP—The gross public debt of the United States at the end of 1927 was $18,036,352,451.- 81, agoeording to the treasury state- ment for Dec. 31, which became available today. On Dee. 31, 1936, the grosa debt was $19,074,665,337.- 35, thus showing a reduction during the calendar year of $1,038,312,886.-! b4. As interest on the debt which was retiied in this period averaged about ¢:-per cent, the accomplish- ment mesns that in interest 1928 'fll be about $40,000,000 less than last year, At the end of 1927 there was $72,842,801.10 in the treasury gen- eral fund, held there to meet current datly expenses. Thus the net debt was but $17,764,009,650.71. At its peak on Aug. 31, 1919, the gross public debt was $26,696,701,648.81, or $8,660,349,196.20 greater than the gross debt on Dec. 31, 1927. The net debt on Aug. 31, 1919, was $25,478,- 693,113.25, The treasury statement also show- €@ that all but $87,060,400 of the BSecond Liberty bonds had been turned by Dec. 31, 1927, for redemp- tlon or in exchange for bonds, notes and short-term certificates bearing low interest rates. Of the other war-time Liberty bonds the following still remain out- standing: First loan, $1,939,156,850; third loan, $2,147,653,150; fourth loan, $6,296,901,900, a total of $10,- 383,711,900, Expenditures Increased . Total expenditures for the aix months were $1,924,429,801, as against $1,813,239,519 a year ago, an increase of about $111,000,000. But mast of this was due to the fact that about $471,000,000 more was spent duping the perlod for purchases for the sinking fund, set up by law for debt retirement. Ordinary expenditures were $ 476,199,301, as against $1,445,960,2 for the same six months a r ago. About $16,000,000 of this increasc ‘was accounted for by heavier tax re- fund payments, $6,000,000 {h con- | nection with the postal defiefenc: $10,000,000 for government life in- surance, Gross earnings of the twelve Fod- ergl Reserve banks for i927 amount- | ed to $48,026,000 as compared with $7,600,000 for 1920, and current ex- penses to $27,540,000 as compared with $37,850,000 in 1926. Net carn- ings for 1927 amounted to $13,05! 000 as against $16,610,000 for 1926. The banks set aside from their {two officers and eight men. | carnings $2,440,000 as reserves to cover depreclation charges and r'-i serves for losses on discounted paper, | &e.. and paid dividends to me: mber | | Yanks amounting to $7,755,000. The Federal Reserve banks. of | Minncapolis and Kansas City paid al 1 of $249,591.17 into the treasury | a frapehise tax. The total sub-| mcribed eapital of the twelve Feder- al Reserve banks on January 1, 1928, amounted to $264,862,000 and fotal | surplus to $283,319,000. | Post Office Business | For 1927 Is $401,515 3| The total amount of business| transacted by the local post office in 1927 is $401,515, according to| Postmaster H. E. Erwin. NEW ISSUES BENEFICIAL LOAN SOCIETY $35,000 Par 8% Cumulative Preferred Stock: $7,000 Par Common Class A Stock Vreferred as to Com: a8 to Assets and Dividend- SOUTHERN TRUST COMPANY, PURPOSE OF ISSUES—The proceeds from these issues will be nsed to increase the working capital of the Socicty in the Industrial Loan field. This field has proved very safe over a long perfod of years under varying conditions of national prosperity. EARNINGS—The earnings of the Society have been most satisfactory, being at present about six times the dividend requirement of these issues (0 be presently outstanding. City ltems W. W. Marshall of 669 Stanley street, who with Mra. Marshall is visiting at the home of his dayghter and her husband, Mr. and Mrs. Fred. erick Stevens at Holyoke, Mass., is reported as seriously ilf there. ‘We now have room for a few more students in our Night School. Moody Secretarial 8chool.—advt. Constable Fred Winkle has been appointed trustee of the estate of Louis M. Gitlin, bankrupt, of this city. The first hearing of creditors was held at the office of Referee in Bankruptcy Saul Berman of Hart- ford yesterday. A son was born at New Britain General hospital today to Mr. and Mra. Carl O. Engwell of 309 Osgood avenue. Patrolman Clarence Lanpher is off duty because of illness and Motor- cycle Officer William P, Hayes is subsfituting as court officer. President E. W. Pape of the Ki- wanis club announces the appoint- ment of the following budget com- mittec: Walter M. Bassford, chair- man; Attorney Donald Gaffney and Charles W. Hawkins. BURIAL IN ARLINGTON ——— Bodies of 1li-Fated §-4 Crew To Be Interred With Honor in National Cemetery in Virginia Boston, Jan. 5 UP—Bodies of the men who lost thelr lives in the sinking of the navy submarine S-¢ at Provincetown will be buried in the National Cemetery at Arlington, Va., orders received at the navy vard here today indicated. The three bodies recovered yester- day, those of Licut. Commander Roy K. Jones, commanding officer of the 8-4; Lieut, Joscph McGinley and Chief Machinists Mate Aaron Albert Hodger, will leave here tonight for| Washington it preparations can be completed in time. Orders for the transfer of the bodies were received from the navy dcpartment at the| navy yard today. | When the bodies leave here they will be accompanied by a naval honor guard which will consist of CHILD WELFARE PROGRAM The Child Welfare Conferences | conducted by the Visiting Nurse As- sociation for the rcmainder of Jan- ! uary will be held as follows: | Friday of each weeck at the East | Street school, January 6, 13, 20 and | 27 at 3:30 o'clock, | Wednesday of each week at Visit- | ing Nurse Headquarters, 52 Center street, January 11, 18 and 25 at 2:30 o'clock. At the conferences held on Jan- uary 25, 26 and 27, a special demon- stration will be given by one of the nurees on the preparation of a for- mular prescribed in a particular case by & doctor. The nurse will use| simple equipment, such as may be found in any home and adapt it to the principles of hygienic modified | | milk preparation. | The demonstrution will be free of | charge and although held essential- ly for the mothers who attend the Well Baby Conferences, any mother who is interested is invited. - ! London, Jan. that English society considers it quite the thing to always owe their tal]-i ors, one firm along Savile Row has | capitalized the idea and now adver- | tises that it never expects to get paid | cxcept by its clients’ executors, IRFAII HERALD CLASSIFIED ADS | vited to attend. ESTABLISHED MARCH, 1989 of New Britain Preferred as to Assets and Dividends PAR VALUE $100 PER SHARE mon PAR \'ALl'I:Z' $10 PER SHARE Fully Paid and Non-Assessable. AGENT | ed within the spirit of the covenant | | logg's move as the proposal lies in | Wheeler Charges Govt. | of the use of marines in that coutnry WILMINGTON, REGISTRAR AND TRANSFER NEW .BRITAIN DAILY HERALD, THURSDAY, JANUARY 5, 1928, FRENCH GONSIDER ldloggs — Blow fo Fatare War Paris, Jan. 5 UP—The French cab- inet today undertook consideration of the negotiations between ¥France and the United States for a pact to outlaw war when Foreign Minister Briand presented Secretary of State Kellogg's proposed treaty text and informed hia colleagues of the state of the negotiations. In the opinion of officials circles, ' the pact as it is now being elabor- ated will in no way affect the obliga- tions of France as a member of the League of Natlons, The underatand- ing 1s that a resolution’ to outlaw war will be-incorporated in the pre- amble to the treaty of arbitration being negotiated weparately between France and the United Btates and | that similar agreements will be 1 other countries with an l-rbunuon, treaty attached to give juridigal form to the antl-war resolution. Such treaties are being made be- tween membars of the league at various times and have been declar- by the league assembly. It i felt | ‘here that there is no reason why & league member cannot enter into a similar agreemant with non-mem- | bers without violating the league | covenant, i Germany Is Favorable, | Berlin, Jan. 5 P—Unoficial infor- mation - indicates that Germauy | would be willing to participate in | Seccretary of State Kellogg's proposal for treaties to outlaw war. The American proposals which | were in reply to overtures of For- cign Minister Briand of noe are being studied closely by the foreign | offices, leagues of mations, and juri- dictal cxperts. While officlal eom- ment was not avallable on the ground that Secretary Kellogg's | communication was not sent as n' | distinct note to the powers generally |and Germany has not yet been in- | vited to join in a multilateral treaty, | the correspondcat was unofficlally | | informed that German diplomats re- | gard the Kellogg proposal, if realiz- ed, as an important step in the di- rection of world peace. *“So tar as Germany is concerned,” it was stated, “nothing stands in the way of supporting Becretary Kel- the ‘direction of the entire German post-war policy of pacification.” Carrying on a War ‘Washington, Jan. 5 UP—Charging that the executive branch of the gov- ernment is carrying on war in Nica- ragua, 8cnator Wheeler, democrat, Montana, proposed an investigation in a resolution offered today. Hc had previously announced he would ask such an investigation. TO DISCUSS CLINIO ! Dr. Roy L. Leak, superintendent of the state hospital at Middletown, will speak at the Y. M. C. A. Bible class this evening He will discuss the proposed mental clinic in New Britain. Members of the New Brit- ain General hospital staff and the medical profession have been fin- Will Wed $10,000 | Mary K. Graser, 18, of Doylestown, Pa., has announced a willingness to | made between the Upited States and ; marry the man who'll supply $10,000 ‘$paau L|jwmey Joy \CASUALTIES LISTED IN' NICARAGUAN FIGHT Names of Four Marines Wounded in Sunday’s Clash Received in Managua Today, Managua, Nicaragua, Jan. § UP— Tho names of four marines wounded on Bunday in a clash with Nicara- iuun rebels, were received here to- ay. They were: Edward L. Pomdiski, of St. Paul, who was seriously wounded; L. |Hooks of New Orleans, John C. | Coyte of Weymouth, Mass., and Cor- poral Wallace Henry of Oklahoma City, all slightly wounded. Sergeant Thomas G. Bruce, who was a licutenant in the Nicaraguan national guard, was killed in Sun- day's fight, and Lieut. Merton A. Richal, commander of the detach- ment, was wouaded. Their names had previously neen reported, but | the identity of the other four casual- ties did not reach Managua until to- day. — Deaths Ferdinando Agostinuoct Ferdinando, . the six-months-old son of Mr. and Mrs. Antonio Agos- tinucei of 45 Bterling street, died at 4:28 o'clock this morning at the New Britain General hospital. Funeral services will take place at the home on Sterling street Satur- day nnerqoon at 2 o'clock. Burial Will be In’8t. Mary’s new cemetery. Adelaide Wewsky Adelaide Wetsky,. 12 years old, daughter ‘of Mr. and Mrs. Bernard | Wetsky of 66 Belden street, died at New Britain General hospital at 12:26 o’clock this morning. She un- |derwent an operation at the institu- tion on: January 1. The funeral will be held Saturday morning at a time to be announced latér by M. J. Kenney Co. Funerals Mrs, Charles H. Clarkson. Funeral services for Mra Mary H., Clarksgn, wife of Charles Henry Clarkson of 37 Bradley street, were held this afternoon at 3 o'clock at Erwin chapel. Rev, Theodore A. Greene, pastor of fhe First Congre- gational church, officiated. Burial was {n Feirview cemetery. Joseph Suetia. Funeral services for Joseph Suetia of 265 1-2 Clark street, who died in Middletown Tuesday night, will be held Saturday morning at 8 o'clock at 8t. Andrew's church. Burial will be in 8t. Mary's cemetery. Mrs. Antonio DiGiovann!. Funeral services for Mrs. Antonio Di Giovanni of 81 Dak street will be held at the home of her nephew, Francis DiFrancesco, 139 - Lawlor street, S8aturday morning at 8:30 o'clock and at S§t. Mary's church at 9 o'clock. Burial will be in St. Mary's cemetery. Mrs. Luis Barboza Funeral services for Mrs. Luls Barboza of ‘Washington street were held this morning at 10 o'clock at 8t. Mary's church. Rev. Walter A. McCrann celcbrated a requiem high mass. At the offertory Mrs. Mary T. Crean sang “Ave Maria™ and at the conclusion of the mass, she sang “Lead Kindly Light.” Burfal was in St. Mary's cemetery. Bermard Nimro Funeral services for Bernard Nim. Wall Street Briefs The annual subscription offer of jcommon stock by the U. 8. Steel Corporation to employes, usually made at this time, will be postponed juntil about April. Last year's ofter- | iings at the price of $122 a shuN. i{was not made until June 9, because "nf the stock dividend. In 1926 the Net income of the Western Pa- cific railroad for the first 11 months of 1927 dropped to $97,873 from period. November showed a deficit of 4$34,233 in contrast to net income of $148,565 in November, 1926, 3 Net profit of Gillette Safety Razor company and subsidiaries for the first 11" months of 1927 was almost as much as for the full year 1926, $13,084,472 against $13,311,412. This was equal to $6.5¢ a share agalnst $6:65.a share in 19'6. GOV, SHITH HEARS SNYDER PETITION (Continued From First Page) counsel to “get on the law and stay there.” “8t. Paul says,” Hazelton counter- ed, “that the letter of the law Kkill- eth but the spirit of the law giveth lite.” “The legislature of the state of New York, however,” the governor drawled, “has decided differently and the legislature is a more modern interpreter of tr= law than St. Paul,” At this the crowd broke into a laugh in which the governor and even the lawyers joined. Buddenly the governor rose. “Well,” he said, the hearing's over.” Then, just two hours after the hearing began, he walked briskly out of the room. Although the governor gave no decision his remarks just before the hearing ended caused many to be- lieve that he would extend no clem- | ency. He spoke with a dry smile of ‘this psychosis” and “twilight zone iness” and told defense lawyers that much of what they had told him might better have been presented to the jury at the trial. Sunstroke Blamed A sunstroke suffered as a little girl so affected Mrs. Ruth Snyder's mind when she grew up, her lawyer told Governor Smith today, that she lest her sense of responsibility and 80 could not help killing her hus- band. As the governor entered those few of the crowd who were scated rose. Hazelton expressed sympathy for the governor because of his respon- a man and woman must die, Hazelton briefly reviewed the le- | gal aspects of the case and pictured his client as a perfect wife and; mother before she met Gray. In accordance with custom neither Mrs. Snyder nor Gray was present. They walited the outcome in their I8ing Sing cells, which at present from today, only to pay the cxtreme penalty for their murder of Mrs Snyder's husband in the death chamber. Hazelton said that in early child- hood Mra. Snyder suffered from a serfous sunstroke and a scrious fall. *This was conccaled from me."” he| said, “until recently, but now I have found out that these events over-| shadowed her whole life. She was after that subject to moments of great joy and great depression. She | was subject to attacks of epilepsy or perhaps some strange borderland malady of the mind. “I am advised by a psychiatrist jthat she is in a twilight zone of lim- ited responsibility. At this point Mrs. Brown bcegan eyes with a handkerchief. Just in Play old stock was offercd at $136. The! current market price of Steel com-! $2,448,497 in the corresponding 1926 x bus- | to sibility fn having to decide whether | they are scheduled to leave a weck | to weep quietly and dabbed at her, ISENSAflllNAI.MPS ON STOCK N NARKET ‘Rwovery Follows Sadden De- cmseilm New York, Jan. § URM—8tock { prices broke wide open on the New { York Stock Exchange today under {heavy selling inspired by the tre- | mendous increase in stock eschange {members loans which mew total close to $4,500,000. Greene Cananea Copper dropped from an early high of 154 1-2 to 139 and Midland Steel Products preferred crashed 13 poiuts to 268. The market opened heavy, but rallied later under the leadership of {New Haven, which has been heave {ily bought recently in anticipation of an early resumption of dividends. The rally, however, failed to hold and by noon the entire market was headed downward as “bear” traders sly attacked supposedly vul- issucs, and small traders [hastened to take their quickly van. ishing paper- profits. Declines of 3 to 5 points were re- corded by a wide ansoftment of stocks, including U. 8. Steel common, General Motors, International Hare vester, American Smelting, Kelly Springfield, Hudson Motors, * Mont- gomery Ward, Beechnut Packing and Calumet and Arizona. After the early selling, a rally be- gan with New Haven leading with & further advance to 65 1-2, the high. | est since 1916. Greene Cananea Cop- per, Montgomery Ward, General Motors and several others made up their losses as the reinvestment de- mand again began to assert its in- fluence. The accumulation of New Haven common was in further re- | flection of reports that dividends | will be resumed next year. leveralt other stocks also showed revivin strength, including Lackawanus, 8t Louis & San Francisco, Canadian | Pacific, American Railways Express, Armour of Illinois Preferred, and others. In the early selling, induced | by the unprecedented increase in brokers loans, much larger than had | | been expected, Wright Aerenautical got down 3 points and Montgomery Ward, Greene Cananea and several |of the motor issues had losses of 1 2 points, Foreign exchange open- ‘ cd steady. | Prices headed downward at the | opening of the stock market today, | retlecting the record breaking vol- | ume of stock exchange brokers loans. U. 8. Steel and General Mo- tors opened a point lower and Mid- land Steel Products preferred wus off 5 1-4 at the outset, THF. MARKET AT 2:30 P. M. (Furnished by Putnam & Co.) High Low ~Close Al Che & Dye 153% 161% American Can 74% 712% |Am Car & F4 109% 107 !Am Loco .... 113% 116% Am Sm & Re 1s"~. 117 | Am Sugar .. % 0% |Am Tol & el 179 178% !Am Tobacco . 173 — Am Woolen . 22 21 | Anaconda Cop 57% 58% | Atchison 192% 191 Dall Loco ...255 254 |Balt & Ohio. 117% 116% Beth St . 5Ty Calif Pet .24y Cn aPe .212% <Cr De Pasco 693 Ches & Ohio 203% lcM & s P31y ICR I & Pac 1113 [Chile Cop ... 41% |Chrysler Corp 61% {Coca Cola ,..129% {Colo Fuel ... 78% Consol Gas ..123% |Corn Prod ... 65% {Cru Steel ..... s9% dodge Bros A 24 rie RR ..... 66% 1st pfd . 63 Players .116% Rubber , 17% Asphalt . 85% Genl Elec ....136 Genl Motors ..138 Gt Nor I O Ctfs 22% tG North pfd . 974 Gulf Sta Steel 533 Hudson Motors 84% (N0 &G .... 251 Int Nickel ..., 847 int Paper 7 Ken Cop . Kelly Spring |Lehigh Val . Mack Truck Marland Oil .. Mo Kan & Tex 40 [ Mo Pac utd .. 52 Mont Ward ..123 |National Lead 126% Y Central ..163 N Y N H & H 661 orth Amer... 593 North Pacific.. 981 'k Mot Car 63 Am ]‘.t B 45% 65 1473 91 | R Sears Roebuc Sinclair Oil Standard Oit Stewart Warner 84 Slut!rh.lk&r PUTNAM & €O Mambors Now York & Hartford Stock Bxchangss 31 WEST MAIN ST. NEW BRI'IAIN TEL 2040 HARTPORD OFFICE, 6 CENTRAL ROW TELEPHONE 2-1141 NATIONAL FIRE INSURANCE CO. Price on Application. 53 West Main Street New Britain Phone 2380 Sombevs of New I’ul: and Hartford Stock Exchange Edward L. Newmarker, Manager We Offer: HARTFORD FIRE Price on Application Will Buy 150 Fidelity Industrial Bank. Rights at $25 EDWIN D. HYDE Dealer i.: Bank Stocks 136 West Main St. New Britain, Conn.‘ Telephone 4800 Report on the Condition of THE NEW BRITAIN TRUST CO. At the close of business on the 31st day of December, 1937, RESOURCES Loans aud Discounts, Overdrafts, Bonds to secure Postal Savings U. 8. Government Securities, Other Becurities, $4,534,008.91 Deposita, ® Furniture, Equipment and Fixtures, Other Real Estate, Due from Federal Reserve Bank, Due from Reserve Agents, Due from Banke and Bankers, Cash on hand, Checks, Cash ftems and Exchanges, Uncollected {nterest earned. Due from customers (letters of Total Asscts, ... eredit) LIABILITIES. "nyl(nl Stock, Surpl Undivided profits, (less @xpenscs and taxee paid) Reserved for Interest, Taxcs, Due to Banks and Baukers, Postal Savings General Deposits, Certificates of Depostt, Tressurer's Checks, Certified Checks, Dividends Unpaid, ot Christmas Savings and Thrift ¥ (including Nl borrowings Bitls payable except’ re-discounts) letters of Credit 24,266 122,812.27 2,864.46 §,318,87 unds Unearned discount and interest, ro of 42 Belden street were held this Capital stock Increase account morning at 9 o'clock at St. Peter's church. where Rev. Charles Coppens celebrated a requiem high mass. Mrs. M. J. Rival sang “Pie Jesu™ at the offertory and at the conclu- sion of the services she and Frank Zimmerman sang a duet. The pall bearers, fellow members of several Lithuanian societies, were Stanley Broff, Joseph Milukas, Joseph Fak-‘ an, Albin Jenuska, Adam Adamitis and Willlam Jarvis. Burial was in 8t. Mary's cemetery. DIVIDENDS—Paid quarteriy—January 1, April 1, July 1 and October 1. Preferred Stock 8% Cumulative—Oommon Stock Class A—10%, pius an additional 8% partici- pating dividends. First dividend received by holders of Treasury Stock prorated for the part of first quarter held. | Tobacco Prod .111% |Union Pac .. 1827 | United Fruit . 142 |U s ct Ir Pipe 210 U S Rubber .. 61% U 8 Steel . Wabash Ry . Ward Bak B . West Elec .. White Motor .. Willys Over .. Total Liabilities, ....e...... State of Conmmecticut, County of Hartford, N itate, January b, 1926, e 1. ¥. W. Macomber, Treasurer of the aforesaid New Brit- ain Trust Co, do solemnly swear that the foregoing statemenmt 18 true to tiie best of my knowledge and bellet. SELCURITY—=There being no bond is=ue or other funded debt, the security behind this issue will be the entire amcts of the sucicty. Just for fun, and not with any in- tention of flying, Mayor William Hale (Big Bill) Thompson of Chi- cago put on an aviator's headgear &nd goggles the other day. It was at Chicago's Christmas charity show. Monuments $150 et anywhere in New England I'. W. MACOMBER. Treasurer. Subscribed and swoin te before me, this 5th day of January, 1928. 19% 189% LOCAL STOCK MARKET (Furnished by Putssm & Oo.) Insurance Socks. | Bid A‘td Actna Casualty ......1350 Actna life Ins Co Aetna Fire .. Automobile Ins Hartford Fire . National Fire Phoenix Fire . Travelers Ins Co . Conn. General . Man ¥ ¢.1 LAW, Notary Public. { S Shares 8% Preferred Stock U 10 Shares Common Stock Class A —— Billings & 8pencer com Standard Screw tillings & Bpencer pfd | Stanley Works . ... Dristol Brags . Torrington Co com . ',;:l:’;l ::cn.l . Union Mffio . Cagle . Pyl cm -a‘n. Fafnir Bearing Co . Conn Elec Service . Hart & Cooley Conn Lt & Pow ptd lLanders, F ... Hfd Elec Light N B Machine . B Machine pfd Niles-Be-Pond com ., North & Judd . .. Peck, Stowe & Wi Russell Mtg Co . Price includes lettering, cart- ing, setting and founda- tion. All Granites Price $625 per Unit Inquiries invited HAROLD B. GILES Burritt Hotel, New Britain. Tel. 3310 1 | Telegraphed to ARl Parte of the World ‘BOLLERER’S POSY SHOP E35°) -ia.mm .| { Southern N E Tel . COME ANY DAY Bave 3% Buy direct and save agent's commission T.C. Smiths Sons Tel. 1799 Am Hardware . Am Hoslery . Beaton & Cadwell . TREASURY BALANCE Treasury Balance, $250,218,131. — READ NERALD CLASSIFTRD ADS