New Britain Herald Newspaper, December 14, 1928, Page 41

FORMER GOVERNOR ORIGIATED DEA Yale Abandons Combined Aca- demic and Lax Course New Haven, Dec. 14 UP—Thirty years ago, before the section of le- #al education of the American Bar association, the .late Simeon E. Baldwin, long professor of constitu- tional law and former governor, made a plea that the fourth aca- demic year at Yale be open to pro- feasional study, it was pointed out today in the Yale News. Yesterday, Dean -Hutchins announced through the News that the combined course in the law achool with senior year in college would be abolished and students will be required to have four years of cultural study subjects before taking up law courses. It was noted today that this change was announced on the 30th anniversary of Judge Baldwin's speech. Judge Baldwin, in his argument at that time, said that public senti- ment justified it and a reductlonl directing Mr. and Mrs. Otto Kourim would be insisted upon either of | the time asked of the average stu- | trol for three years. dent for the college course or of | that demanded by the preparatory | that a precedent was being set by school. He suggested that the stu- | dent be allowed to elect one year's | study in a department in which he t Vi H intended to enter on leaving college. | | oantes) on @ detede: | parents of three children, had come The plan of Judge Baldwin was adopted at Yale eventually but so| far as the law school is concerned it will be eliminated. READ HERALD CLASSIFIED ADS related to Senator Joe Robinson of NEW BRITAIN DAILY HERALD, FRIDAY, DECEMBER 14, 1928, BOND TRADING HAS VOLUME INCREASE Prices Generally Firmer—Loan Reduction Enconrages Buyers New York, Dec. 14 (M—Trading increased in volume on the bond {and prices generally were somewhat firrer. Buyers evidently were en- couraged by the large reduction brokers' loans announced after tne close of the market yesterday. Time | money dull and firm, but call money was easier. Andes Copper s advanced about 4 points, the widest gain of the early trading. Indisna Steel 5%s were lifted more than a point and there was a fair amount of buying of | Barnsdall 6s with warrants, which | improved fractionally. Rails were | in demand at slightly higher levels, {espectally St. T'aul 5s, Evie 55 and | Mis Utititics were | inclined to he Bolivian is: center of tra Nation-wide. comment has been aroused by the ruling of Judge Harrison W. Ewing of Cleveland, again were the | ng in the firwer for- elgn list, the s gaining fractionally. |Some U. S. zovernment oblizations, notably the liborty issues i:wproved. of that city to practics birth con- Judge Ben B. Lindsey of Denver acknowledged Long Island City, Dec. 14 (UP)— A veteran defense lawyer started the final attempt to save | Mrs. Francis Kirkwood, comely 33 |vear old woman, from going to | prison for the stabbing to death of lier husband, Dr. Glenn Kirkwood. Dana Wallace, who so unsuccesstully fought for Mrs. Ruth Snyder's life, made the final summation for the defense this morning. the order recognizing the legality of birth control, but he disagreed with Judge Ewing, holding that no court has the right to impose birth The Kourims, before Judge Ewing seeking a di- vorce. Kourim and the children, left to right, Bertha, ¢; Otto, 1, and Arkansas. "~ Hahn Department Stores, Inc. (lnunonul wunder the laws of the State of Delaware) $22,700,000 6%% Convertible Preferred Stock vertible into two sha: Common Bach shave con into two m'lmm at any time up to ten days before the date upon which it shall for vedemption. 454,000 Shares Common Stock o TRANSFER AGENTS The Commercial Nationa! Bank and Trust Company of New York Union Trust Company, Chicago REGISTRARS Preforved Steck: The Seaboard National Bank of The City of New York Commen Steck: The New York Trust Company Preforved end Common Stecls: Continental National Bank & Trust Company of Chicage out hvp-n-nnuhluc during the next twelve S uring the pexe rwrelve m may Seack is preferred snd 00 to sessts to the extent of §110 per share plusaccrued dividends in Jenuary 1. 1939; radecamable in whole of in Part sny fime wpon 60 da on Pebruary Lot of sach year commencing with 1931 toset up on its o Furchase fund equal o the redemption price of 37 of m imued and outstanding, such purchase fund to be 1p- 8t the redemption price. purcl abligation ush Steck ceaverted. -—‘hu ..-u % Fotble Frefarred Beock which ":. Rase of ruch Seasls ot il o b credived itk sy, Prasently to bs Outstanding Preferred 8tock (Per Velus §100 Por Shove) o 6%% Convertible . . Btock (Ne Per Velue) « wummmh—-—u— Mr. Lew “Hshn Department porated to centralize the mmhl the operation of s large number of long hpmtmbndnmofmu‘wm‘d earning power. ‘The initial com ired dis -‘l"p‘ull' i 1; irectly or indirectly, nu‘l‘t‘; for fi:nh’c’r additions of similar character. the businesses beis cniu.sllcl [ stores which are the most important in their respective sections of the country. The Rollman & Sons Compan: Herpolsheimer Company ..... ‘Titche, Goettinger Co., Inc. 5 (14 Cnmnny. Tncorporated. .. . Baltimore, Md bush Company . The A Polsky Compan; The Mnnhowmmn- Com O'N.ui ‘The i !NjoounCom ‘The Muller Conpmy. Limited. A. E. Troutman Company Wright-Metzler (The Troutman Compan; . CONSOLIDATION ‘The sggregate sales volume of over $108, 000,000 for the twenty-two gnits in the fiscal year 1928 indicates the large purchasing power of the Corpmtwn ‘This will make powible for esch store Jlnl representation in all the im- ery 3, an outstanding bu portant markets », President of n part u!ollown. Copiesof A NATION-WIDE DEPARTMENT STORE CHAIN $23,000,000 « o $,000,000 Shs.* 1,284,000 Shs.*® Cenvertible Preferred Stock and 100,000 shares reserved for sale ameunt mey bs Hahwn Department Stoves, Inc., has summarized his letter vegarding the Corporatia letter may bs had from the undersigned upon request. MANAGEMENT Allthestoreawill continuetooperate under their ovn long-established names and under those executives who have been largely responsible for their success. A substantial amount of the Common Stock of Hahn Department Stores, Inc., will be owned by metaber store executives. The central organization of expert executives will be concerned wi h the coordination of buying activities, the development of more effective methods, and the sound expansion of the chain flv-'lilc unities arise. Mr. George W. Mitton, of the Ine, t Stores, Inc., has besn incor- and coordinate -established the following 22 com- ‘which has been or will will constitute the being scquired at the outset are dan Marsh Company, will be Chairman of Directors of Hahn Department Stores, EARNINGS ‘The combined net profits of the twenty-two com- anies above named, as certified by Messrs. Ernst & rnst, after excluding income, profits and losses from certain investments, real estate and life insurance not to be retained; deducting salaries of local store execu- tives and employees and rentals to be paid, in lieu of salaries, rentals and other occupancy expenses ; excluding certain other non-re- curring eraging for the three years $204,- 291.79 per year; eliminating amortization of leaseholds now written off; adding to income 6% on $4,000,000 new cash byt without making any provision for ex- penses of the holduu company; and deducting deprecia- tion, and Federal income taxes at the present rate of 12%, were as follows: Cmcmmu, 0. Grand Rapids, Mich. , Tex. «s..Paterson, N. 4.0 4.1 6.130 637.78 41 BALANCE SHEET Net tangible assets of $37,135,483, or over $161 per this issue of 6%% Convertible Preferred , and current assets of $34,665,960, against cur- rent lisbilities of &s,ul 547, a ratio of over 4.2 to 1, sre shown by the pro forma consolidated balance sheet of Hshn mm Stores, Inc., as at May 31, 1928, 88 cortified by Mesers. Ernst & Ernst, giving effect a8 st that date to the increass in capital of Hahn Depart- ment Stores, Inc.; to the acquisitions effected and to be Equivalent Per Share Common $3.57 3.69 3.61 Net Profits as above pany . Janu- the world which should result in Preferred and Common | market early in the session today | in | today | UNCERTAIN DRIFTS Gall Money T Per Cent— Trading Quiet New York, Dec. 14 P — Price trends drifted about in uncertain manner in quiet trading on the curb market to Although call money to 6, the bankers' acceptance rate in anticipation of the money pinch. Tubize Silk dropped 20 points, while Niles Bement Pond, which has had a spectacular rise in recent se sions, advanced 4 points, fell back about §, and then rallied. Firestone | Tire sagged and Du Pont | dropped 4. alty was a | strong point, gaining 6 points. ‘ year end & { South Penn rising over Prairie Pipe Line, however, lost & points during the forenoon. In the | mines Newmont moved up 3 poin | then fell back 5. Noranda was firm. Utilities fluctuated erratically. Electric Bond and Share advanced & points, dropped 4, and again turned upward. American Superpower and United Gas Improvement were un- der pressure. Hahn Department Store stocks | were admitted to trading on a when issued basis. The common, offered at 38, ranged in itial trading from 46 3-4 to 45 3-4, and the preferred, which was offered at 103, sold at 110%. WANDE 'y, Dec. 14 (A — Howard Hawley, an aged resident of New Milford, found wandering aboyt the woods of Brookfield, December 5, and who had been missing from his home for several days, this morning in the Danbury hos. | pital as the result of his exposure. He is said to have relatives in Sey- mour. PROPOSE NEW HIGHWAY Hartford, Dec. 14 () — A new main traffic arte to the north, b)‘ means of extending Garden s!rul through Keney Park to the Po- sor, i3 recciving attention by e highway department, had a survey made, Hartford park department. the which and REPORT GANG NUISANCES P. B. Miller complained to the po- today that a crowd of young | ien congregates about his gasoline | station at North and Spring streets at night «nd creates a disturbance. Michael Ginsberg of 340 Chest- nut strect complained men make a practice 8f congregat- ing about his property at East and Fairviews streets hetween 5 and § ‘elock in the evening and are a WANT TO TRY FALL Washington, Dec. 14 (UP)—A mo- tion to try former Sccretary of In- terior Albert B. Iall on a charge of Hills 0il lease to Edward L. Doheny, Los Angeles oil man, was presented | to the District of Columbia supreme ' conrt to by Atlee Pomerene, spe- cial go unient counsel, and U. Attorney Lco A. Rover, LOCAL STOCKS (Furnished by Putnam & Co.) Kid Asked 1180 955 680, 450 890 Actna Casualty . na Life Ins Co .... 945 o a Fire \momohib Ins .. Hartford National } >hoenix Fire .. s Ins Co . Am Hosiery .......... Beaton & Cadwell .... Bige-111d Cpt £o com .. Rillings & Spencer new Tillings & Spencer pfd Biristol Brass .. Colt's Arms . Eagle Lock . Vainir B N B Machine pfd . le-Pond com L & Judd . eck, Stowe & Wil Russel Mfg Co ... Scovill Mfg Co .. ndard § anley Works . Torrington Co com Union Mfg Co ....... Public Utilities Stocks Conn Elec Power . 90 Conn Lt & Pow pfd .. 100 Hfd Elec Light N B Gas io Southern N E Tel Treasury Balance (M—Hl 0!:- ,966. Treasury Balance $41,905,960. renewed at 7 per cent and dropped | was stepped up 1-8 of one per cent | Oils displayed moderate strength, ' 2 points. | died carly | y | quonock road in the town of Wind- | the | that young | bribery in connection with his Elk | | Mac! CURB PRICES IN FLUCTUATIONS IN | MARKET CONTINUE Main Tendency Is Upward But ‘ Specialties Flutter New York, Dec. 14 (P —Violent fluctuations in high priced special- ties featured today's irregular stock market. The main price tendency was upward, with buying influenced by the further ea g of money rates, the decline of nearly §219, 000,000 in brokers' loans and the re- tention of the 5 per cent rediscount |rate by the the New York l'cderal | Reserve bank, except at the open- {ing when several blo ks of 40,000 shares changed han ing was relatively light in volume. Call money renewed at 7 per cent and dropped to 6 with loans quoted in the “outside” market” as low as 5 1-2 per cent in the early after- noon. FEasy call money is axpected {to continue until early next weck {when the December 15 disburse- | ments are again likely to cause a further stiffening .which may con- tinue until the end of the year. Bankers’ acceptance rates were ad- vanced 1-8 of 1 per cent today, pre- sumably in anticipation of higher rates on other borrowings around the end of the year. Reports of merger between the Americ: Standard Sanita companies furnished negotiatio; the only im- day. Radio was the spectacular per- former in today's market, breaking from an early high of 340 to net gain of ncarly 41 points. Victor | | Talking Machine dropped from 140 to 135, rebounded to 130, a new \high, gpgged to 135 1.2 and then | rallied again to around 145. A. M. Byers opened 12 points higher at 177, fell to 171% and then climbed to 183 1-2, up 18 3-8 points. Al Chem & Dy 2267 Am Ag Chm pfd m Amer Can 3 Am Sumatra .. 5 Am Sm & Ref 2627 Am Sugar .... 8313 Anaconda Cop 1077 Atchison 19415 |Balt & Ohio. 1183 Beth Steel Brook Man Cer De Pasco Ches & Ohio {C RI& Pac | Chrysler Corp Colo Fuel \ongoleum Consol Gas Corn Prod Dav Chem Erie RRR Fam Player Fleischmann . I'reeport Tex . Genl Asphalt . Genl Elee ..., Genl Motors Glidden Hudson Motors § | Horsheys Int Comb, Int Cement . Int Nickel .. Ken Cop Truck Marland "0il Mo Kan & Mont Ward National Lead N Y Central.. NYNHG&H North Amer... §8 North Pacific 106 Pack Mot Car 1547 Pan Am Pet B _1un‘ | Phillips Pet Pullman Radio Lonv Remington Reading Mears Roebusk 16 Sinclair Oil ., Southern Pac . Std Ol N J Std Oil N Y Stewart Warn Studehaker Texas (‘o Tex Gulf Sulph Tim Rol Bear Underwood Union Pac . Union Carbide 1 U S Ind A1 U8 Rubber U S Steel 111 ! Wabash R West Llec Willys @ver . Woolworth Wright Aer Am Tel & Tel 190 Washington Dec. General Cumming of the U. S pub- lic health service said today it was impossible to predict how wide- spread the present influenza epidem- ic may become and warned the nation to consider 1t seriously. “The general public s prone to forget the seriousness of influcnza until it suddenly becomes an epi- demic,” Cumming said. Trad- | portant business development of the | and then rebounding to $49 for a | pressed PUTNAM & CO, Members Now York & Herqford Stack Enchanges f 31 WEST MAIN ST., NEW BRITAIN TEL. 2040 HARTFORD OFFICE, ¢ CENTRAL ROW, We Offer: Aetna Life Insurance Co. Travelers Insurance Co. Prices on Application. 5,000 to | | @Thomson, Tfenn & Lo Members of New York and Hartford Stock Exchanges 55 West Main Street New Britain Phone 2580 Stuart G. Segar, Manager We Offer: Security Insurance Co. of New Haven Price on Application, EDDY BROTHERS & & Members Hartford Stock Exchange .“ HARTFORD Hartford Conn. Trust Bidg, (olony Bid} NEW BRITAIN Burritt Hotel Bldg. We Offer: 50 Shares of Fafnir Bearing Co. WILSON & CO. Investment Secarities HARTFORD NEW BRITAIN Tel. 2-7111 55 W. Main St. Tel. 5000 5 Pearl St. We Offer and Recommend: Hartford Electric nght Co. Common Stock REPORT (UP)—A | deliberation would be futile. The dis- | case will be retried early next year. agreeme reporte ortly he-| The defendants are charged witth fore 11 a. m. today by the jury in|larceny of $1280 from Henry H. the larceny trial of William J. “Big | Harris of Brookline and $450 frem 1" Keliher, John 1. Duffley of , Harry L. Hind, Boston contractor. Jelmont and William I, Connolly of Keliher is alleged to have defraud- | ed Hind by posing as the repre- sentative of a Portland, Me., wom- an who wished to lend $212,000 as n investment, 14 was . which had 2 hours at Suffolk su s dismissed by Jud old William v the foreman ex-| the opinion that further| READ WERALD CLASSIFIED ADS Associated Gas and Electric System Table of Exchanges of Preferred Stocks and Bonds TO BE DEPOSITED STOCKS (per_share) ted Gas and Electric Co. Preferred: inal Serle' - lW,G’l $7 Dividens $6.50 Dmdend Underlying Preferred Stocks: Clarion River Power Co. Participating Erie Lighting Company Preference Staten Island Edison Corporation $6 Pi Western N. Y. Gas & Elec. Corp. $7 Pref. _ (Depew & Lanc. L., P. & Conduit Co.) NDS AND DEBENTURES (Per $1,000) Associated Gas and Electric Co. 6%% Convertible Manila Elect. Series B and C_. Underlying Bonds: Citizens L., H. & Pr. Co. Ss, due 1934 Depew & Lancaster Co. Ss, due 1954 Du Beis Elec. & Trac. Co. 5s, due 1932__ Erie Lighting Company Ss, due 1967 ___ Granville Elec. & Gas Co. $s, due 1933 Hopkinsville Water Company Ss Indiana Gas Utilities Company 5s, {eEierson Electric Company So. due 1933 Lake Shore Gas Company S13s, due 1950 Lock Haven Gas & Coke Co. 6s, due 1944 _ 1819 u ] 4326 Amount $2,009,550 L»ng Island Water Corp. 51(s, due 1955 la Electric Company §s, due 1946 . _ important economies, and in a closer contact with styls trends and with the man hfiyfi& markets. Each of the stores will have the Lm improve- ments in systems and methods resulting from expert eomparison of all phases of operations, effected; to the issue of if Btocks presently to be outstanding; to the elimination of certain assets and liabilities; and to the other trans- actions enumersted in their certificate attached to the President’s letter. Mo la Electric R.R. & L. Corp. 5s, due 1953_ Manila Suburban Rwys. Vlo. 55, due 1946 _ N. Y. State G. & Elec. Corp. 5748, due 1962 N. Y. State G. & Elec. Corp. 63, due 1952 “Investments That Grow” ATl of the common stock of Jordsn Marsh'Compeny and C. F. Hovey Compsny basslready been scquired direcely or indirectly and ehe Corpors- l_ has firm contracts to kqnnn all chhcwn-m tock contracted to be C‘rpnnm‘-‘nd/ B coth e oreeine ta sa &‘n spproprists sdjustment, silable for future scquisitions, fla%mtbnlmammw This offeris counsel e v e L T A L ) ageinet payment LEHMAN BROTHERS (s made (n all vespects, whom, as and i e veserve &.munm-u,-u of the orhar twoaty compan e it ber gl e roso i Ay aoou-.lyvmhuy-uuzdur" ot o el comtraces. i oo <vens She Commems Stock of ha‘ the gurchass price for such stock will be retained in the treasury of the and earnings statement referred toabove will bs nl(ubfidum&mwfibk Pnfmed Stock and the on the New YorkStock Excha 6%2% Convertible Preferred Stock—$103 Per Share and Accrued Dividend Common Stock—$38 Per Share us and subject to the lppm\nlo! oww (ooued and deliverad so. g by b b bl s end accaprad i whele ov S oo oo 14 e matol s S ey e ks amount anpiieio .16 William Serees, New York, N. T Lehman therefor én Neow York funds. % PRINCE & WHITELY The shove statements are aot guarsateed, but are based on information which we believe to be true. Joseph M. Halloran Tel 1 We Offer and Recommend: Aetna Fuller,Richter, Aldrich & Co. COMMERCIAL TRUST BUILDING MEMBERS HARTFORD STOCK EXCH\NGE NEW BRITAIN 253 Harold C. Mott Aetna Life Fire Penn Public Service Corp. Ss, due 1954 __ Pu-'x Public Service Corp. 6s, due 1947 _ sburgh Gas & Elec. Co. Ss, due 1939 mouth (Ohio) Gas Co. 6s, due 1929_| 146,000 1,250,000 110,000 552,000 146,000 mond Light & R. R. ¢s, due 1952 g Brook Wat. Co. (N. Y.) Ss, due 1930 Gas & Electric Co. Ss. due 1935 n Light & Power Co. 5s, due 1931_ 109, in exchange for the above Stocks and Bonds from holders of such Bonds at the values shown under Option 1 above. The Certificates will be available in denominations of $1,000 im tered form, and $100 in Registered form only. Fractional amounts of I ficates will not be iscuable, but depositors may purchase them at the above 1 All exchanges § be deposited. The they can be gotten re: ot bc(w 4 at Iheh time of o : ) tihcates in the principal smount o o 100 two (2) shares of Class A Verahle, which. cortificatesare. cunveriits Clies A Stonk st eny e aftcs six. sonts from dkta o i ot g eite 1 bolder or the Con bear interest at the rate of 6% per sanum and_provide that upon notice to tie Company, the holder may, receive in liea of cash interest pavments, dividends in Clase A Stock M receive on the Class A Stock into which the Certificate is convertible had gl =y ding_the exch: homh-un-n-l- ‘urther iniormation regarding the exchanges ma; Dealer or the Associated Gas and Electric Securities Holders of coupon bonds should d-posit them with The, CI- Natisnal the City of New York, Agency Division, corner Pine and Nasmau Streeta. Stocks and Registered Bonds should be sent to Associated Gas and Klectric Co., Room 2015, 61 Broadway, New York City. The above offers supersede all previous ones amd are subject to withisowsd o8 time. - ASSOCIATED GAS AND ELECTRIC SECURITIES CO., fae. December 10, 1928 61 Brostway, Now Yot Clgn