New Britain Herald Newspaper, November 23, 1928, Page 37

/ i . PARENTS ENTITLED T0 CONSIDERATION Supt. Holmes Discusses Families in Rockwell School District “Parents of the Rockwell school pupils must be given consideration Wwhen the school authorities under- take to transfer the pupils to an- other part of the town to make room for high school pupils,” Supt. Stanley H. Holmes declared in an in- terview today. 8inge it is & certainty that there will be no accommodations at the senior high school other than those Which are now being used to the limit, the question of what was to be done with the approximate increase of 75 pupils in February was put up to Mr. Holmes. He said that he did not know what to do at present and that the matter would not be defi- nitely known until next momh when the forecasts for next year are made, When asked if he thought the puplls may require more rooms at the Rockwell achool, he made the statement with reference to the Rockwell achpol parents, adding that he felt the elementary school was Just as important as the high school and the elementary school pupils should not be shifted because of needed high school accommodations. 1t is probable that the two-platoon plan at high school will be avoided this February at least. Truck Runs Wild; Ruins New London Apartment New London,” Nov. 23 (A—A rooming house at 60 Federal street, was broken into this morning—not by human hands—but by the hard uncompromising metal chest of a huge truck loaded with brick, which dashed down a steep incline across the street and into the bedroom of the house. The big truck tore into the north- west side of the rooming house, smashed its way through the parti- tion, entered the sieeping room, smashed a bed, ripped down the hanging electric chandelier, broke up chairs, shoved the battered bed through the sliding doors, which di- vided the bedroom from a combined kitchenette and living room, entered the latter and came to a halt with its top wedged tightly against the once plastered ceiling. Fortunately, the folks who were residing in that particular apartment moved out yesterday afternoon. Wm. C. Hotchkiss, 75, Surprised by Friends Friends of William C. Hotchkiss of 242 Main street tendered him a surprise party last evening on the occasion of his 75th birthday anni- versary. Mr. and Mras. Hotchkiss had attended the Thursday night prayer meeting at the Methodist church. When they arrived home at 9 o'clock they found 35 guests as- sembled in their apartment. The evening was passed in games and music. Mr. Hotchkiss was presented with a purse of silver by the guests, the presentation being made by E. Krause, president of Everyman's | Bible class, of which Mr. Hotchkiss | California, southern branch, has been effected in Los Angeles by | is a vice president. | ELECTRICIANS' MEETING The New Britain Electrical club will meet tonight at the State Trade school at 8 o'clock. The speaker will be W. L. Lloyd of the General Electric high voltage laboratories in Pittsfield, Mass. His subject will be “Lightning." Mr. Lloyd has done a great deal | of experimental work on high ten- | sion lines and his experiences have | made him familiar with the subject of his lecture. That babies are being doped with alcohol to keep them asleep has been Organization of a flying club for co-eds of the University of Betty McCall and four followers. The girls have made their | first student flights, LEASE SUIT SETTLED %x\x'r.&ml! lease for 25 years. Attor- The suit of John Lehman against |ney 1. J. Golon rep nted the aintiff and Israel Nair was counscl e sury Morans | PIAIntift and Israel Samucl Herrup and Henry Morans | priHit 470 1ect in which Judge Morris D. Saxe ren- | i i dered judgment for the plaintiff to ‘Robhers Loot Bank recover rent on leased property lo- i ated at the juncture of Hartford In Pennsylvania avenue, Winter and Star streets, was Trafford City, Pa.,, Nov. 23 (#— definitely settled today before the|Three robber: d up the First Na- case reached trial in superior court [tional flord City today on an appeal made by the defend-|and ed with between $15,000 ant Herrup. Botth ties agreed |and $18,000. They kidnaped O. M. to the amount of rent and the length | Kimmel, the horough assessor. Output of slab zinc by countries which furnish about 97 per cent of the world’s total amounted to 126, G44 short tons in October against 121,248 tons in September and 121,- 176 tons in October, 1927, accord- ing to the American bureau of metal statistics. Contemplated construction: ‘ pro- (Jects announced so far this fall in- | volve expenditure of larger sums than in the corresponding period year, with activity well acattered both as to class of operations and | geographical divisions, McGraw-Hill Construction Daily reports. In thd past week the total for-the country was $149,900,000, compared to $94,- 795,000 in the corresponding week last year, Standard Oil company of Ken- tucky stockholders will meet Da- cember 20 to vote on increasing au- thorized capital to $35,000,000 from $17,500,000 to provide for an ex- change of 2 1-2 new $10 par shares for each old $25 per share and a 50 per cent stock dividend. The di- rectors have declared a 50 cents extra dividend and regular quarter- ly dividends of $1 on present stock, both payable December 31 to stock of record December 15, _Youngxml\'n district steel opera- tions are at §0 per cent of capacity, with some additional moderation in view before end of the year. WILD TRADING ON CURB REPORTED Market Surpasses . Previous £ot beyond the control of it Roblio, of Waterford, driver, and charged by the Child Welfare so- ciety of Durban, South Africa. of the lease, the (Hartrorp CouranT, May 30, 1028) Hartford Stocks By A. E. MAGNELL, Financial Editor. Under the authorization of a resolution adopted at the stockholder meeting November 30, directors of the City Company of Harford, In have voted to increase the capital by the issue of 20,000 additional shares, making the total 40,000. New shares will be issued to stockhold- ers of record June 5, in ratio of one new share for each share then held, at $25. This will give the City Company of Hartford paid in capital of $1,000,000, and enable taking advantage of the growing vol- ume of business. The field of activities of the company are being broadened. Valuable rights have already accrued to stockhold Company of Hartford through this and a previous capital incre Sales of stock took place in the market Tuesday at $235 a share. An original owner of 10 shares who exercised his first rights and who acquires shares in the new offering will then have 40 shares, the cost of which will have been §600 and on the basis of yesterday’s sales will have market worth of $5,200. Following is a table of market worth of rights and price basis of new stock on a scale of prices for stock now outstanding: 01d Stock | s of the City The remarkahble advance in market worth of stock of the City Com- pany of Hartford is direct reflection of the recognized investment ability of the management. Stockholders of the City Bank & Trust Company have observed this in the management of the bank’s business. Investors concluded equally gratifying results in the new company, but the market reaction has surpassed expectations of the most optimistic. Since 1916 when Fred P. Holt became president of the bank—he is now chairman of the board, and since 1921 when LeRoy W. Campbell | became president, succeeding Mr. Holt, the City Bank & Trust Com-| Cit and | corporated November Messers Holt and | the pany has made remarkable progress in the development of depos service and investments have gained materially. Campbell serve in the respective capacities in the City Companp of Hartford. The successful management of the bank, as which stockholders of the City Company expect to see duplicated, is apparent in the records of the past t\velveg'ears of the bank. Following is a table capital and sur- plus growth and earnings year by year: Dollars per share earned Capital Surplu on capital $440,000 $144,431 $5.5 440,000 140,22 2 22 440,000 5 35 440,000 149 A0 500,000A 3 7 600,008 3 60 % of net earnings added to surplus 10 % of net earnings paid in dividends 20, 1,2 \ 1,366 A—Capital increase at $100; B—Capital increase at $150; C—$50,000 paid in surplus. Advances in market quotations of stock of the City Company have been rapid. Early sales of stock in the market were at $60, while the company was not two weeks old. Since then the upward progress has been steady, every sale being at higher figures. 136 W. Main St. to continue on the terms of defendant agreeinz | the 'RE. City Company To Increase Paid Capital Directors Vote to Double Amount and Issue 20,000 More Shares June 5 to Expand Holdings BY A. E. MAGNELL. Directors of the City Company of Hartford, Inc., voted Tuesday to in- cre the capital of the company from $500,000 to £1,000,000, issuing 20,000 additional shares to stock- of record on June 5 at § e. Stock of the City Com- pany of Hartford sold in the local market Tue. at $235 a share. The progress and accomplishments of the City Company of Hartford stands as the most remarkable coming to the attention of followers of the market, at least locally. The Company of Hartford in- , 1927, by ame interests those in charge of the conduct of affairs of the City Bank & Trust Company. Stockholders of the City Bank & Trust Company were afforded an opportunity to acquire stock in the new company. Realizing the success of the officers of the bank they an- ticipated equal success in the man- | agement of the new company and stock was readily subscribed. Busi- ness began with $250,000 paid in capital and was shortly afterward increased to $500,000. The entire cost of underwriting in both in- stances was without expenze as the present one will be. Larger Volume of Business. urpose of the present in- < s to give the company a { of £1,000,000 paid in capital, | thereby enabling it to take advan. | tage of the growing volume of busi- ness and be prepared to participate to a larger degree in the transac- tions which have proven profitable to the company. communication sent out by President LeRoy W. Campbell Tues- day night to stockholders of the «City Company stated: “Although the company has had the actual use of its paid in capital of $500,0 for approximately only five months, it has realized a very satisfactory operating profit, and in_addition holds_a list of high grade invest- ments ‘which show an attractive en- hancement. The charter privileges of the company are being exercised and the company is gradually broadening its field activities.” Has Broad Charter. The charter of the City Company of Hartford is broad in its provi- sions and has served as a model for others who have given consideration to the formation of investment companies. Subscription rights on the original ssue were restricted to stockhold- ers of the City Bank & Trust Co. Warrants in the forthcoming issue will be transferable and stockhold- ers not desirous of exercising their rights will undoubtedly find a ready market for them. The subscription privilege will ex- pire at 3 p.m. on June 25. - Fred P. Holt, chairman of the board .of the City Company, has headed the City Bank & Trust Co. since 1916. LeRoy W. Campbell be- came president of the City Bank & Trust Co. in 1921, coming to Hart- ford with a background of broad financial experience. The Fidelity Finance Corporation New Britain Records—Selling Sets in New York, Nov. 23 (®—The curb market again surpassed all its previ- | ous records for wild trading today, total sales in the first two hours run- ning over 1,400,000 shares. Heavy cross currents of buying and selling, however, about bal- were generally small. The board of governors voted to close the market ! tomorrow to permit brokers to catch up with their bookkeeping and to give the frenzied floor traders a | breathing spell. | Radio shares were dealt fn | mendous volume, particularly those | aftected by the British Radio-Cable | merger. Canadian Marconi jumped more than a point to a new peak | price while Marconi . of London | dropped a point. Motor shares were also in demand. Marmon, Stutz, Tord of Canada moving up about 2 | to 3 points, although Checker Cab sagged. Oil and copper shares displayed group strength. In the coppers, | Noranda and Shattuck Denn made | gains of 2 to 3 points, and n the | oils Praire and Indiana improved. | Utilitles were quiet and frregular. | United Gas Improvement and North- castern Power rallied after early | heaviness, while American Gas and Tlectric and American Superpower | issues were in supply. ‘ Radio - Keith - Orpheum, wire | | Wheel and Rainbow Luminous Pro- | ducts made moderate gains, while { | tre- Aluminum company jumped more | than § points. The new when issued | Du Pont stock, resulting from the | | 3%~for 1 split, sold at 141 in initial trading. Real Estate News " Warranty Mary and Carlo China to Albino Pola, North and Elm streeta. Frank Bordonaro to Stanley Krenski, Biruta street. John A. Ericson to D. T. Larson, Roxbury road. Stella Blaskiewicz to Elenira Ba- bula, Sterling street. John Peterson Est., to Helen and Evelyn Peterson, Kelsey and Stanley streets. | Mortgages | Guisseppe Zavarella to Farmers |and Mechanics bank, $6,250, Kelsey street. Girolamo Tranchida, et al, to Sav- ings Bank of New Britain, $1,00v. Beaver street. Girolamo Tranchida to Mary . O’'Brien §$2,500, Beaver street. BONDS INPROVE N EARLY TRADING Gonvertibles Again Lead Irregu- | lar Advance of Market New York, Nov. 23 (P — Prices and activity improved in early trad- ing on the bond market today, with convertibles again leading the ir- ! regular advance in sympathy with | the price of stocks. Andes Copper 17's, Pathe Ex- | change 7's with warrants and Kay- cer & Co. 5 1-2's moved to mew | high levels. Small gains were made by Cuba Cane Sugar §'s, American Cynamid 5's, Great Falls Power 5's and Barnsdall 6's. Soft spots in- cluded Public Service of New Jer- sey 4 1-2's, Transcontinental Oil |16 1-2's and Colon Oil. | Rails generally improved, | sains were fractional. The foreign list was irregular. The Federal Reserve bank of {New York has notified member banks that a treasury offering may ;he expected soon. Exports from | Ohio, said trustees of the Chicago sanitary district, have voted to float |a $27,000,000 bond issue for im- provements. The city of Philadelphia {18 receiving sealed bids on an ofter- |Ing of $10,450,000 50 year ¢ or |4 1-4 per cent bonds. but ‘While trying to torture a frog by { Aetna Fire .. . {means of a high tension circuit, a Automobile Ing . recently ' Hartford Fire . ' Bayeux. France, laborer electrocuted himselt, anced each other, and price changes | ,Am Sugar .. MAHI(ET_IM’NWARI]i Selling Wave at Mid-Day Wipes Out Early Gains New York. Nov. 23 (#—The stock market turned a complete somersault | on a record-breaking turn-over to- | day. A tremendous accumulation of | ogernight buying orders sent prices | of many active issues soaring 6 to| 30% points in early trading. but a switt selling movement just before | mid-day cut down or wiped out| many of the early gains, and sent a number of stocks 1 to b points be- low yesterday's final quotations. A brisk recovery was in progress in the early afternoon. Despite the elimination of sales from the tape, the ticker fell 45 min- utes behind the market by 1 o'clock. Bo great was the congestion of work | in many of the large brokerage | houses that the governors of the ex- change met at noon and voted to suspend business on Saturday. ‘The midday selling movement was inspired by reports that an “import- | ant statement” would be given out by the federal reserve bank at 1 p. | m. Many traders apparently feared | that another warning on credit in-| flation was coming, and they threw stocks overboard, but the statement i proved to be merely the election of | a new governor of the bank to suc- ceed the late Be@amin Strong. The market's quick reaction in- dicated the nervous tension created by the recent spectacular advance in prices. With the market closed to- morrow much of the day's selling also represented week-end profit taking which ordinarily is distrib- uted over two days. The wild upswing at the opening of the market, in which several blocks of 10,000 to 40,000 shares changed hands at rising prices in face of a record-breaking increase in brokers’ loans, again demonstra- ted the recent tendency of the market to do the unexpected. Or- dinarily, such an increase would be immediately followed by a heavy wave of selling, and that is what many traders looked for this morn- | ing. Instead prices bounded up- ward, and just when they looked as it they were going “through the roof,” they suddenly broke in dra- matic fashion. Case Threshing Machine soared 30 1-2 points to a new top at 615 and then dropped to 500, and Wright Aeronautical ran wup 19 points to 289 and fell back to 264. Curtiss dropped from 164 1-2 to 153 1-2, Vietor Talking Machine from 158 1-2 to 147 3-4 and Radio from 379 to 361. Montgomery- | Ward dropped 12 1-2 points belpw last night's close and Vanadium Steel 5. General Motors ran up 5 3-4 points to 214 1-2 and slipped back to 212 1-4. New high records again were es- tablished by a wide assortment ef issues, the list including Andes, Kennecott, Inspiration and Cerro D2 Pasco Coppers, Standard Oil of Cali- fornia, Marland, Euperior Oil, Pack- ard and Nash Motors, New Haver. | Erie, Kansas City B8outhern nnd} Pere Marquette railroads. ANl Ch & Dye 2373 235 Am Agr Ch pfd 75% T4y Amer. Can ....113% 110% Am Loco .....101% 101 Am Sumatra .. 57% 57% Am Sm & Ref 282 280 i 236% ! 5% | 111 101 5734 280 851 | 178% 301 113 198% Am Tobacco Am Woolen Anac Cop .. Atchison . Balt & Ohio. 115% Beth Steel ... 84 Brook Man .. 66 Cer De Pasco 114% Ches & Ohio 201% C R I & Pac 133% Chrysler Corp 1327 Colo Fuel ... 75% Congoleum .. 28% Consol Gas .. 95 Corn Prod ... 91 Dav Chem ... 62 Erle RR .. 693 Fam Players . 53% Fleischmann . 84% Freeport Tex . 47% Genl Asphalt . 8134 Genl Elec ....1871% Genl Motors ..215% Glidden ...... 29% Hudson Motors 85 Hersheys ..... 69 Int. Comp, Eng 71 Int Cement . Int Nickel Int Harves . Int Paper Ken Cop . Mack Truck Marland Oil .. 49% Mo Kan & Tex 527% Mont Ward ..425 National Lead 124% N Y Central ..184% NYNHG&HTT% North Amer... 86 North Pacific 1137 Pack Mot Car 123% Pan Am Pet B 57 Phillips Pet... 52% Pullman Radio Corp Remington Rd4 29% Reading ......104% Sears Roebuck 184 % Sinclair Oil . 45 Southern Pac .127 8t Oil N J , 53 Std Oil N Y . Stewart Warn 11513 Studebaker .. 76% Texas Co . 693 Tex Gulf Sulph 801 Tim Rol Bear 147% | Underwood ... 8§1% %1 Union Pac ....218% | Union Carbide 209 203% United Fruit ..143 141 US Ind Alcohol 127% 126 | U S Rubber .. 41% 40% U 8 Steel . .170% 169 | Wabash Ry . 9% T9% West Elec 136 1361 | Willys Over ... 28% 28% | 2181 218% 261 271 193 193% | 8% 6515 Wright Aero Am Tel & Tel .196% Semuel Abrahamson (Furoished by Putnam & Co.) Bid Asked Aetna Casualty Aetna Life Ins Co . 1120 1150 . 930 840 635 645 ... 455 465 R80 890 National Fire ..,... 1120 1140 |over Hartford High tomorrow after- PUTNAM & CO, Members Now York & Hartford Steck Bnshangss \ 31 WEST MAIN ST., NEW BRITAIN TEL. 2040 WARTFORD OFFICE, 6 CENTRAL ROW, T We Offer: Eastern Utilities Associates Common Shares Price on Application. Thomson, Tiem & To. Members of New York and Hartford Stock Exchanges 55 West Main Street New Britain Phone 2580 Stuart G. Segar, Manager We Offer: Bx_'yant & Chapman Price on Application. EDDY BROTHERS &G Members Hartford Stock Exchange <4 NEW BRITAIN HARTFORD nEMOEN ® Burritttotel 8idg. Hartford Com.Trust Bidg, Colony Bidg We Offer: 50 Shares Union Manufacturing 50 Shares Colts “Investments That Grow” Fuller, Richter, Aldrich & Co. COMMERCIAL TRUST BUILDING NEW BRITAIN MEMBERS HARTFOR D STOCK EXCHANGE' Joseph M. Halloran Tel., 12 Harold O. Mott We Offer a Limited Number of Shares in the FIDELITY COMPANY OF CONNECTICUT, INC. PRICE ON APPLICATION This company is similar in operation to the City Com- pany, the Park Company, the East Hartford Company and the East Hampton Company. We strongly recommend its purchase. Phoenix Fire .. . 830 840 Travelers Ins Co .... 1585 1600 Conn. General ..... 1700 11750 Manufacturing Stocks Am Hardware . Am Hosiery ... | Beaton & Cadwell ., Bige-Hfd Cpt Co com Rillings & Spencer com Rillings & Spencer pfd Pristol Brass . == Colt's Arms Eagle Lock ... .. Fafnir Bearing Co . Hart & Cooley .... Landers, F .... N B Machine ... Four Eves better than two! Peck, Stowe & Wil ,... 21 Russel Mfg Co ...... 140 Scovill Mfg Co .. 64 Standard Screw . Stanley Works ... Torrnigton Co com Union Mfg Co ........ 22 Public Utiliues Stocks Conn Elec Power . Conn Lt & Pow pfd . Hfd Elec Light ...... 130 Sometimes all a busi- ness needs is a pair of bank “specs”! See your banker! See what he sees! Another point of view may give an entirely new slant. We're mighty easy to talk things over with. TREASURY BALANCE Treasury Balance, $117,237,139. H. S. PUPILS' PARADE Red and Gold Rooters Going Out Tonight Behind Band — “Snake Dance” In Center of City. COURTESY! FRIENDSHIP! SERVICE! Pupils of the Senior High school will parade tonight in anticipation of a victory for New Britain High noon on the Bulkeley stadium grid- iron, Hartford. They will be headed by a band which will play school songs. When the parade reaches Central park the pupils will indulge in a “snake dance.” READ HERALD CLASSIFIED ADS e Eastern Utilities Investing Corp. The Board of Directors has declared the following quarterly dividends, pay- able December 1, to holders of ree- ord October 31, 1928: Dividends $6.00 Cumulative Preferred Stock—$1.50 per share in cash. $7.00 Cumalative Preferred Stock—$1.75 per share in cash. MOFFAT, Freasurer. T W