New Britain Herald Newspaper, April 5, 1929, Page 29

WISE CRACKS BY WATKINS ENLIVEN EGAN PROCEEDINGS (Continued from First Page) in the trial was prepared by Egan to corrispond with the sales agree- ment und.r \ hic he A. J. Calla- han company was bought by the Winthrop Gregory company. Alcorn asked the witness: have had pretty good making a market for stock haven't you?" Watkins replied, in a tone which suggested rcasm: “I don't know as I hav He was asked how he got into stock selling and he said: “It just happened.” W ins said he came to Hartford after selling stock in Springfeld where he had got tired of the job. He was “broke.” This was in May, 1927, He joined the A. J. Callahan com- pany as a salesman and had such “You success that he was made vice man- | ager at “‘ew Haven. He returned to Hartford after six | weeks as he d'd not like that city. He decided after a talk w'th Ver- mer Anderson, “to stick around awhile” on Anderson's assertion that *easy money was to be made.” Watkins said that during his ex- perience as a salesman Anderson had shown him some of the “sub- cellar methods” used in selling stock in the J. Callahan company. Underground Method Asked to explain this the witness #aid it was the underground method of selling stock. He said that Ander- son got familiar and talked with him about the affairs of the Calla- han company and even suggested the matter of an increase in capital. Various ways of increasing the cap- {tal were suggested by Anderson to Callahan and Watkins and witness ®aid that on the suggestion that they obtain a new office he found one at 2t Lewis street, which had been used by a brokerage firm Watkins said he got in touch with the firm in New York and talked over the matter of a le; and it was offered to him with the promise that he could have the furniture in the place which Watkins said he es- timated was worth $20,000. Watkins testified that he went to Callahan and asked him if he would pay $10,. 000 for the office furniture and take over the lease and Callahan sald he would and then promised Watkins the $10,000. After they moved in, Callahan couldn't pay the money but he gave the witness 100 shares of the preferred stock of the A. J. Cal- lahan company. After a while the witness tried to get rid of the 100 shares and couldn't sell them. Watkins was asked how he got control of the Callahan company and he said that while only a sales- man he confronted Anderson and Callahan with the assertion that they were converting the company's money to their own use and finally he was able to oust both of them and take over the company. It was by taking over the new of- fice that the way was made easy for creation of the Winthrop Gregory company. At the noon recess, Wat- kins was still describing his exper- fences in organizing the Investment companies. Carter is First Witness Robert Carter of Hartford, former | salesman with the Watkins company, was the first witness called today. He testified that he was in the com- pany's office on Good Friday morn- success in |- and the reply was: “Just around the corner.” After Watkins ended the conver- sation Carter held the line and found that the call came from Northampton. That night after a dance he went to Northampton with other salesmen and saw Watkins at the hotel there and stayed over night. The next morning they had break- fast with Watkins and each asked Watkins when they would receive their money. Carter said he was owed $2300 by Watkins. Watkins told him that Egan had told him (Watkins) “to keep out of the state until things blow over so he would not get a paper.” Alcorn asked Carter what meant by *“‘paper,” whether a news- paper or a warrant, and Carter said he believed it was the latter. Before the salesman left on Sun- day morning Carter sald Watkins gave him a blank check payable to William E. Egan and also a note to Egan. When they reached Hartford that night all went to Egan's house and he told them to come to his officc on Monday morning and he would fix up their checks. On cress-examination by Mr. Hyde Carter said he had sold stock for the N. A. L. through circulars an differ- ent papers. He related for Hyde the | details of the Northampton trip. - “Not Yet,” Says Carter Asked by Judge Isaac Wolfe, “Did you get your $23,000?" Carter said: “Not yet.” There was a roar of laughter in the court room and offi- cers had to pound their gavels sev- eral times to obtain quiet. On redirect examination hy Al- corn, Carter said he did not get his money and he knew the others did not. Maynard Tresslar, brother-in-law | of Watkins, the next witness, sald |he was 35 years old, married, has |two children and is serving one to two years for conspiracy in the Watkins company's affairs. He testified at length to the flight of Watkins and himself from Hart- ford. He had been a telegraph oper- ator for 15 years in Pennsylvania towns and he first came to Hartford in June 1927 to visit his sister, Mrs. | Watkins. He returned to Pennsyl- vania and came to Hartford on a vacation in August with his 11- year-old son. Ci “Flat Tire” They stayed with the Watkins and {his brother-in-law talked a great ideal about his stock brokerage | business. He returned to Scranton. {Pa., and found he had been dis- harged from his place so he re- ;lurm‘d to Hartford September 1 and | went to work for Watkins to lcarn {the selling of securities with a drawing account of a week. He got this only a short time as he lcould not make sales and his pay | was cut down when Watkins called him a “flat tire."” Tresslar said that on April 5, 1928, he was called by Watkins to come | right over to Kgan's office. He found |there Mayers, the vice president, rand Watkins and Egan. Watkins gave him a package containing val- |uable papers, and what he believed to be bonds to take to Mrs. Wat- | kins. Watkins also sald he was go- ing to leave town and witness could accompany him. Tresslar testified that he took the package to Mrs. Watkins and she appeared to have been expecting it. He was instructed to tell Mrs. Wat- Kins to prepare her husband's valisa as he was going out of town for a few days. Watkins and the witness left Hartford about 4 p. m. April 5 in Watkins car and drove to Northampton where they stayed un- til April 8. While there Watkins did consid- erable telephoning to Egan and his ing. 1928, and also the next morning. | wife. They left Northampton April At the latter time he received a tele- | 8 for Worcester where they stayed EW BRITAI When Rum-Transportation Is Legal NEA Washington Bureau There was liquor in those boxes, fresh off the ship. And the police of Washington and the prohibition agents didn’'t do a thing about it, though the bottled goods were unloaded in broad daylight. That was because the liquor was for the British embassy in Washington, which is technically foreign soil and where it's all right to drink. Here you see the intoxicants | arriving: at their destination after being transported under guard from the wharf at Baltimore, [ Birth Record | A son was born at New Britain | General hospital last night to Mr.| and Mrs. Frank Vigglano of 20| | Mitchell street, larriving at the lafter city April 12. Tresslar said he left Watkins at Chicago and went to Cleveland and | Watkins went to Milwaukee. Watkins [told him to call Egan from Cleve- |land and Kgan told him to have | Watkins get in touch with him. | Tresslar returned from Cleveland [to Scranton and stayed overnight and Watkins wired him that Mrs, | Watking would be in Buffalo and | he was to get in touch with hec there. Went to Buffalo and met Mrs. Watkins, Mrs. Tresslar and his two | Cardinal Gasquet Is Dead at Rome| Iome, April 5 (P —Cardinal Gas- {quet, archivist of the library of the | |emilaren. Al drove to Ch [holy Roman church, who was cre- | | Mrs. Watkins' car and then on tolated a cardinal in 1914, died toda | Milwaukee, where they met Wat- 1 83 | kins late in April. England's lone representative hey left Watkins returned jamong the “cardinals of the curia™ ilo Scranton where Mrs. Watkins | suffered a heart attack two days ago [tried to sell packa of bonds and | when nding the funeral of his | was unable to do so. Mrs. Watkins | colls e rdinal Lucidi. i [went to Chicago and witness went| By this morning he had developed | |to New York where he mailed a|pneumonia and then came another |letter to Rice at Hartford and thn|heart attack which soon ended in {rejoined Mrs. Watkins in CAZO0. ath Tresslar then fold of the trip with| | Watkins from Chicago fo Santa ""'('linton?\lan“.lmled | where they again got in touch with s | | Mrs. Watkins, For Passing Checks | Middletown, April 5 (A—Leon | Metealf, 45, of Clinton, for passing | worthless checks was sent to state “I’'m Alone” Sinking rrison for one to three years on | Otfawa, April 5 (UP)—A lengthy | €ach of three counts, the terms to | | communication hearing upon the [Tun concurrently. and | |de Canada fo Protest DAILY HERALD, FRIDAY, APRIL 5 CURB CALMS DOWN | sinking of the Canadian schooner| The amount involved was $75, “I'm Alone” is on its way to Wash- Mrs. Metcalf testified before | ington from the Dominion govern-|Judge Carver that her husband | ment fo the U. 8 government. It|would not work and she had got |is addressed to the Canadian minis- ter, Hon. Vincent Ma who will hand it to Secretar ate Stim- son. | |through supporting him. | of airl’s Screams Warn Driver He Struck Her Clifford Carde of 419 West Main sfreet was driving north on Gien street and turned left into Main street about 5:30 last evening when he h 1 a woman scream. Stop- ping, lie saw Miss Anna Price of 15 carl Court, on one knee, having n struck by the bumper of the automobile. Carde took Miss Price to her home and reported the accident to Detec- tive Sergeant Ellinger. Miss Price was injured about the arm and leg. Rahbi Hadas to Speak As to the contents of the missive, secrecy was observed in official cir- cles here today on the ground that it would be an act of discourtesy to make public a document addressed to another government hefore it reached its destination. 1t probably will be left to American authorities | to decide what publicity it is to be given. = 1t is definitely known, however, that the communication is in the nature of a protest against what fs | considered to be an unwarranted act of the United States coast guard in sinking, with consequent loss of one BONDS AGAIN IN SLUGEISH HooD Sales Falls Far Under $10,000.- 000 for Entire Session i | New York, April b (® market again dropped doldrums today. Ales running well under $10,000,600 for the day. | A slight casing in the time money | market and cheaper call funds | failed to have a stimulating eifect on the market. Time moncy was| quoted at 9 per cent for short maturitics, and 832 to § per cent for | the longer dates, compared to 8% | and 9 per cent yesterday. Dealers shelve » reported load ed with bond issues, awaiting 4 | more favorable market with banks | 1eported growing more reluctant to | id bonds. Traders are | taking only ssucs that scem | assured of an immediate market. | These are mostly bonds carrying | some speculative feature, I'he bond | into the with | such as| stock purchase warrants or conver- sion into stock privileges. | Municipalitics and states, which have been holding aloof from the | market, are now being forced m; place loans at fairly high interest| rates to raisc funds for pressing| improvements. Difficulty in floating bonds is re- | ported by the federal reserve hoard | to be slowing down building busi ness. A New York company recent ly devised a system of stock financ- | ing for its building operations be- | czuse of the difficulty in selling mortgage bonds. The unfavorable condition of the bond market, the| federal rve board claims, has| greatly reduced foreign borrowing | in this country and consequently has made it more difficult for foreign countries o obtain the exchange | nccessary to pay for American products. AS MONEY DROPS, List Develops Better Tone When Rate Falls to Six New York, April § (#—The curb market was ugsettied fo. w fur- ther uneasiness over the credit out- | look resulting from the new warning issued by the federal reserve hoard last night. When call money drop- pc1to 6 per cent after midday, how cver, the list developed a better tons Special interest was hiticl trading in the new Ford of Canada B stock which is to replace the present stock. ‘lotor stocks| were generally firr. save for Au- hurn, which yielded 3 peint:. Durant| maved up 2 points. and Checker | Cab was in demand at higher levels. | A number of industrial is were well bought. Gold Seal E tric moved up more than 2 points, American Cyanamid B was firm, | aviation issues. however, wera heavy, | losses in this group ranging from 1 to 4 points. The oil stocks were again weak. | Humble sagging 3 points and Stand- | ard of Indiana falling a point In the utilitics, American Super- power issues showed pronounced strength, the A and B shares both moving up over 4 points, but Elee tric Bond and Share encountered selling pressufe. attached to | brides” boom | crossed 71 Pevel for the red metal failed to de 1929 STOCK MARKET 1§ stiL aeicTiovipy | FUTNAM & CO, ‘ Mambers Now York & Horgord Stock Enchanges | | 31 WEST MAIN ST., NEW 2040 Frequent Shifts of Sentiment Show Credit Uneasiness New York, April 5 (®—Frequent shifts of speculative sentiment in today's stock market reflected the widespread uneasiness still existing | over the eredit situation. Reaction ary tendencies predominated at the opening as a result of rather heavy | liquidation by nervous investors and speculators who were alarmed at | the threat contained in the federal reserve board statement p this morning. but these oifer were readily absorbed. and the mar- ket showed a tendency to rally when the call money rate was low- ered from 8 to 6 per cent. | Stecl shares were kept in the fore- front by operators for the advance in view of the optimistic predictions being made by leaders of the indus. try on first quarter and the first h: Ar's earnings. U. 8. Steel, which is shortly ex- pected to announce the offering of additional common stock to retire it | funded indebtedness, was in brisk | demand, rallying from a low of| 185 1-2 to 188 5-8, where it was| up more than 2 points above last night's' close. Bethlehem crossed 112 for the first time since the “war | of 1917. Superior to a new peak, but had | difficulty in maintaining its gain | after the spirited advance carlier in the week. Vanadium marked | up more than 4 points and Ludlum 2 with most of the other so-called independents selling a point or more higher Quiet Period Forecast Commission house comment that the market was in for a period o relative quiet until the credit situ- ation was adjusted had a tendency to discourage trading by the “in and out™ speculators. The unusually high carrying charges on marginal accounts alse served to restrict trad ing as both speculators and inves- tors were loath to pay interest | charges of 10 per cent on stocks| yielding in most instances less than | half that sum Coppers ran info some selling | when the predicted 25 cents a pound | Price $25 We Offer: WMembers of New York and 55 West Main Street We Offer: Bryant & velop. Anaconda dropping 3 points, below last night's close. Oils turned | quiet and sluggish as a result of the unfavorable impression created by the latest developments in the plans of oil executives to curtail produc- tion Pool operations restricted | Iy to Jow priced specialtizs, American Brown Boveri, Continental Baking A and Bloomingdales all | being lifted to new high ground, the | strength of the last-named being as- | sociated with reports of a large de- partment store merger. American Express points to 347 and then a new high record. National Cash Register dropped § points and rallied 6. Wright Aeronautical dropped & and rallied 7, and International | Telephone made up its early loss of | 4 points. Commercial Solvents | touched 300 for the first time and Rossia Insurance, Underwood Ei liott Fisher, Burroughs Adding Ma- chine and TInternational Business Machines sold 4 to 53 points igher, were “Investments dropped 6 rallied to 361, | Josepb M. Halloran THE MARKET AT 2:30 P. M. (Furnished by Putnam & Co.) BRITAIN GLOBE UNDERWRITERS EXCHANGE, INCORPORATED | CAPITAL STOCK Per Share A descriptive circular will be sent upon request EDDY BROTHERS &G Members Hartford Stock Exchange " HARTFORD BurritHotel Bidg. Hartford Comn. Trust Bidg, m 50 Shares FAFNIR BEARING CO. Hartford Stock Exchanges New Britain Phone 2580 Stuart G. Segar, Manager Chapman Price on Application. That Grow” | Fuller,Richter, Aldrich & Co. COMMERCIAL TRUST BUILDING MEMBERS HARTFORD STOCK EXCHANGER Tel. 1358 NEW BRITAIN Harold C. Mott Excellen.t Opportunities in Public Utilities Are Offered in the Present Market Al Che & Dye Anl Ag Che pd In addition to Connecticut Powcr, Hartford Electric Light and The oo g (NG 18 e £ Mines were irregular, Phelps| At Synagogue Tonight | Dodge and Newmont selilng off. | Rabbi Hadss will speak at o serv- while New Cornelia and Noranda | {ice of the Congregation Brethren | &t | Sons of Israel at the synagogue to- | =° 4 | night at 8:15 o'clock. His scrmon will be on “The Rabbi and His Con- | 1t is expected that there American Can 12 Am Foreig Pwr Am Am Am Am 3 | Am Tobacco . ! Anaconda Cop 151 | Atichson .. | Atlantic Refin |Bult & Ohio Beth Steel Brook Man Can Pacific . . er De Pasco 10 hes & Ohio 213 21 16 & § Paul r Corp Colo Juel Com Power Congoleum phone call from Watkins who want- | over night. The rest of the trip was|life, a vessel of Canadian registry | ed to know how things were. E'o Middletown, N. Y., Newburgh, N.|deemed to have been on the I”ghi Carter asked him where he w.mi\ Buffalo, Syracuse and Chlcngo.lseas. J — ETHEL — 7 TRERES A LT/ Hartford Gas Co.. we have a number of other excellent suggestions in sound public utilities with splendid records of earnings. List given on request with detailed statement about each offering. Pershing Gets Cold Walking Bareheaded Saturday morning at 10:30 o'clock | _ Paris. April 5 (UP)—Gen. John there will be a special “Kiddush” for | J- Pershing contracted a severe cold the children. It is expected that | While attending the funeral of Am- there will be about 50 children at|bPassador Myron T. Herrick, as the the service. | result of walking bareheaded in the | |cold wind whith swept Paris y |terday. He was unable to accom- pany the hody to Brest. Georges Leyzues, minister of the navy. 's| !suffering from rheumatism con- | {tracted during his attendance at the \!\mwul of Marshal ¥ gregation.™ will be a large attendance. rbid 5% 217y | U S Ind Al .. | U S Rutber .. U S Steel . ' a | Wabash Ry = City Items 637, | Complaint was made to Captain West Elec 149% | Kelly at police headquarters today ® |[Will. Over .. 26%2 | that boys were setting traps for | Woolworth .. - 4 [ Chickens at 51 Hayes street. Several | HER ARG S other complaints about boys' activi- S |[etowiEn kR0 ties were reccived from various of Funerals ity LOCAL STOCKS (Furnished by Putnam & L‘Ov)d s 4 Bid Asked | . ; “ | Blue and White 2 Insurance Stocks Mo omas Hcsephian | Funeral services for Mrs. Eliza- | |beth Hesephian, wife of Thomas | ANITA STEWART TO WED . n | Chicago. April (UP)—Anita | GOnsol Gas Hesephian of 15 Union strect, will [Stewart, film star. will be married |OrR Prod .. |be held Saturday afternoon at to George Peabody Converse, New |Curtiss Aecre . 145% | ; s {o'clock at St Stephen's Armenlan York banker, in June, she an-{Dav Chem ... 5 55 ‘\t(vm La,\ual!)“ i:; church. Burial will be in Fairview | nounced here. The month was se.|Dupont it ’_\\4(':1 ;,_ue Ins Co . cemetery. eotas # SsanE. neither: of] 3 ) , 4915 |Actna Fire .. | g lected for two reasons, nfl“:‘:’ of 8 B 1 Ll Tin which was because June is the con- B e ventional one for weddings. ¥ 2 64 | held this morning at § o'clock at Es hmann 1 : Hartford Fire .10 Bk 3 Fox Filn f : Hartford Steam Boiler $25 " ;- | National Fire L1480 R g ‘h, S Ed F Freeport Tex 1w |0 4ef G all vight {or Mother [St. Andrew's church. Rev. Edward | as av rom . .\" 457, | Phoenix Fire 1020 to bud ™me urderwes?” ‘ |V. Grikis celebrated a requiem high | . 3 | e apper bigenough o laat & L her s mass. Burial was in St. Mary's n ppe coupla Geasong — =N 1 dert mind Sleepers> are | cemetery. wearin' Ghoes two Genl Elee ravelers Ins Co . 1875 Genl Motors Manufacturing Stocks pought 1o lagt” ‘er three Gizes awhile — Too lavele~ Peter Bagdonis services for Peter Bag is of 18 Fairview strect wer ) 1"uneral H do {Goodrich Tire | Am Hardware .. 187 | Hudson Motors Arrow-Hart & Hegeman 50 iInt lillings & Spencer .... § 1Int Bristol Brass ...... | Int City Compan Int Int Ken Mack Truck Marland Oil Mo Pac ..... Mont Ward Natl Biscuit Natl Cash I IN Y Central ..1847% INYNH&H 93, North Amer ..100%, Erest W. Freese rades who fought with him | war with Spain will take part orrow afternoon in a military which will be accorded of 596 Arch street, 3 of service in militia and regular amy. Rev.| am H. Alderson, pastor of the | Methodist church, will con- | service at 3 o'clock. Burial | in Fairview cemetery N B Machine North & Judd .. Palmer Bros ; . Stowe & Wil . ssell Mfg Co covill Mfg Co tandard Screw nley Works rington Co . Mrs. Adolph Bobecka ineral services for Mrs. Adolph ccka of Ilanders road, South- | North Pacific 104 on, were held this afternoon at | I Daslc Mot Cip 131 3 o'clock at the home and at I:45 :’,‘ Fam La g Union Mfg Co . |o'clock at St. Matthew's German | ! S "‘x Veeder-Root | Lutheran church, Rev. A. C. Theo- | | Phillips T 5 1 1, Public Ctilitles Stocks dore Steege, pastor, officiated. Burial Postum (Co. \llied Pow & Light | was in Fairvie w cemetery. Pub Serv N Conn Bl Service Radio Corp Conn Tt & P 517 pfd 10 Remington el 102 : 5 * | Hfd Elec Light Reading .. ... & N 8 ; g7, |H(d Gas Co com S i 4% | Hra Gas Co pra rs Roebuck 146 {d as Co pf ; INBGas ..... siclair Oil ... B S Southern Pa | Southern N E Tel . Std Gas & Elec | Unitea Corp. 1d Oil N J . | | | | Bo RS ~*n & doesnt bother me much Do vwear the coats dhat'll e Arthur Tuck lenty bige enough Funcral services for Arthur Tuck iy L)ea‘é'-' ¢ | who dicd in Long Island will be held or him e | T tomorrow afternoon at 1 o'clock et iry's funeral parlors in Roxbury, IR ccrl’a(nl? 6@[’@ ™y @oal’ when %oth :in;*z — | NEA Philadelphia Burean | Disappearing after being lured into | an automobile in front of her hon in Philadelphia, 12-year-old Alic Labutis became the object of a n tionwide search. She was found, uninjured, in Charlotte, C.. after her reported kidnapper. Curtis S, Devonshire, a traveling salesman, had been arrested. trapped by a decoy telegram. TREASURY BALANCE “ Treasury Balance, $419.611 ‘\ td Oil N Y _|Stewart Warn | Studebaker exas Co x Gulf Sulph 1 Tim Rol Bear . 74% Underwood 115 Union Pac .. 215 [ a1 !.\hns RBurial will be in that pllc!‘.} | wear * Oh,hell {ill em out™ karG/ A blue and white color combination John Campbell of Boston issucl|js carried out in this ensemble. The I 4 the first newspaper in America in gkirt is white crepe, the sleeveless 1704. It was called the “Boston pjouse and coat foulard. The hat News Tetter” and was published | matches in blue and white. Shown ‘lfsularl) for over #0 years. %y Bergdorf Goodmas. Also w Drewings | LOMA—BONE MEAIL—SHEEP MANURE Consult Us KER'S POSY SHOP Florist of New Britain” Greenhouses Maple Mill nmu&?lw to Oathi flx Y%ut‘ woul 803, BOLL “The Telegra, Shop 63 West Main 56