New Britain Herald Newspaper, April 12, 1929, Page 33

CURB UTILITIES GAINING GROUND Ouiside Market Advances; Vola- tile Issues Buoyant New York, April 12 P—The curb market moved irregularly kigher to- duy, Wwith some of the volatile is- sues displaying buoyancy, and utili- ties reflecting continued accumula- tion, Promise of improvement in the credit situation, as seen in the shad- ing of the time money rate for longer maturities after a fortnight of | extreme stringency, strengthened market sentiment. Call money again | renewed at 9 per cent, but as yew lable in the outsile | rket at 8 by midday. | Ford of Canada issucs rallied 1in | their spectac r manner, the new B stock soaring 16 pounts to 133 hy early afternoon, and the old stock | mounting 50 points to 1,110. Are- | turus Tube continued its upward climb, sclling at a record price of 45, up 8 points. Deere & Co. nounted 5 points, and & number of other specialties chalked up gains of 2 1o 5 points. Aviation stocks were | strong, with the new Wright stock | g2ining a couple of points. Utiliti continued to gain ground, accompanied by reports a number of large holding companies were round- ing out their investments. American Gas and Electric gained 3 points, | and Electric Bond and Share, Elece tric Investors, and United Gas Im- provement were bought at higher lovels, Oil stocks reflected rasoline prices, Humble, Imperial mounting 2 In the mines, Wildly cheering throngs, elated by his recovery, hailed Kir hardening Gulf and ing of his subjects. points or so. | 1t was the first time that the aged British ruler had quit his wheel chair, donned clothes and appeared in public since his recent illness. He is shown above, standing beside Queen Mary, as he made a brief address and doffed his hat in acknowledgment of the enthusiastic greet- DAILY HERALD, FRIDAY, Abiiul 12, BROAD ADVANCE IN STOGK PRICES Easier Credit and Favorable| News Helps Bull Side | New York, April 12 (P—Definite ' signs of easing credit conditions, | coupled with a continuance of fa-| vorable trade news, furnished the! background for a broad advance in | prices in todgy's stock market. Despite rather heavy week-end| ing of some of the speculative issues ing of some ofthe speculative issues, prices of a long list of stocks were | | pushed up 1 to nearly 9 points, with | at least a dozen moving into ne high ground for the year. Call money renewed at 9 per cent and then dropped to 8 banks | which have been accumulating | funds in anticipation of the heavy these funds at highly profitable seized an opportunity to employ themse funds at highly profitable | 1ates over the week-end. Time money which has been on a flat 9 per cent basis for about two | s, also eased, the long maturi- ties being ofiered at 8 1-2 per cent. While this is still & stift charge |pay on speculative (-ommumenl..‘ Wall Strect seemed more interested in the trend than in the rate itselr. The decline of $135,000,000 in brokers' loans, bringing the total | down $366.000,000 below the record ! high established a few weeks ago, and the increase from 81 to 81.9 per | cent in th New York Federal Re- 'rve bank ratio, and from 71.5 to 73.8 per cent for the em as a whole, also helped to revive lnm‘:sh: | confidence, Directors of the Chicago Federal | NEA London Bureau ng George at Bognor, England. Newmont a over 3 poir and Noranda | !u\.- whole were narrow and irregu ligher levels. Phelps Dodge, |lar. United States government obli ever, fell of 11 points. | gations were firm. The upturn was by no means uni- | form, as bulges tended to bring in profit taking, an1 some of the recent favorites were under the pressure of realizing, such as American Rolling Mill, which sold off about 3 points. chusetts Utility Associates 5 per cen sinking fund debentures wi BY EASIER RATES Time Money Less Tight and Credit Concern Lessens New York, April 12 (#—Save groups affccted by special con, tions, steadying influences were per ForEes o ceptible in the bond market today Joseph and Mary Warnak to Jo- | Time money eased slighily for long- SR e er dates and there were other signs Mot on the horizon that some improve- Tenacy Gnoza to Datish Tnvestment | Nt in the credit situation might Lion Co., $2,000, Albany avenue. |FOL be far away. e * Real Estate News Warranty William . Martin to Anna Brown, Beacon street Wladislaw Marck to Barbara Sal- day. | Sinclair’s Jailer | | | & Catherine Leonard, et al, to Linus Eagmenl SR ol paed o e Deming, $1.7 Tandens avdnie |tract the attention of trades looking | G 3 for speculative possibilities. As| ¥ J- b Kilbourne to H. V. Cam, et |y, 0uy1 the fluctuations in this group | b {followed stocks. Anaconda 73| | showed an opening burst of strength, |with a gain of more than 3 points {but its gain later was cut down to a point. Dodge Brothers 6. Com- mercial Investment Trust and International Telephone 4lgs re- | mained trading favorites and moved up a little. Cuba Cane Sugar & and Ta| dropped to new low levels, reflecting | the depression in the sugar market. | |On the other hand, obligations of | rubber companics and some of the| | rails continued to improve. Seaboard | | Airline made further gains on re-| 4 | ports of recapitalization plans. | milllonaire ol magnate and tuef. Several good galns appeared in| Mam soon Is destined to serve & |the foreign list, but movements on| S¢ntence for cortempt of the senate. | al, Stanley street. e SPECIAL for TOMORROW LEGS OF GENUINE SPRING LAMB 406 Ib. Jones Quality Market 33 Myrtle St. Tel. 285 Free Delivery William L. Peak is the superin. tendent of the Washington Asylum and Jail in the nrational capital, where Harry F. Sinclair, multl y Oit at . Home —waltching the. ' . neighbors g0 driving X e hy automobile days are here. \\w_d 5 e 4 when the down pay ment on ‘énw | and the pa}'mcn‘»s so conven ? e is possible for only 3 .ummer’s pleasure 18 PO ot 4o i i “(:‘ro lics hx:;“ longer 2 luxuryontsi::\ u’\r\:z:n i pealth, 1 it i ecessity. sure and it is a 1 . P hcam_l, gk("jl:: rcolumns of the Classified bf(t,::”:mm " ;;‘:le;e there you will find just the car ¥ g rice . a1l your own at the P! call ford to D&y s a saving Spring is here be without a car, used one is SO smal you can afl Often, it mean of 50 to $300. An offering of $4,000,000 Massa- ’ oute | standing in the investment ficld to- Reserve Bank meeting today. follow- | ed the action of the New York dire i tors yesterday in making no change D h lin the 5 per cent rediscount rate. eaths Rails Appear fo Lag Rails were among the few impor- | tant groups which failed to partici- | pate cxtensively in the upturn: Re- Matthew M. Hinchey, 60 rascent sluggishness of these issues W old, of 79 Buckingham strect, Hart- | attributed to the growing specula- ford, a former resident of this city, [tive belief that the forthcoming where he lived for about 30 years, | O'Fallon case decision by the United died yesterday in Manchcster after | -8 supeme court might not defi- a short illn; }mlrly settle the troublesome valua- | Matthew M. Hinchey He was born in Treland, and came | tion and rate problem. to New Britain when he was a| Extension of gasoline price ad- young man. For years he was|vances brought fresh buying into the active in the Y. M. T. A & B. so- oil shares, but the early gains were ciety and the Foresters of America. | hield to a point or so. U. 8 Steel He left this city about 10 years ago. | common was again in the forefront Mr. Hinchey was employed by the | of the advance, touching a new high Underwood Typewriter Co. as alcn the current up-swing. Radio polisher. He was a member of the | Corporation common again sold Polishers’ Union, and Hartford |close to par after dropping sharply lodge, Loyal Order of Mook | when weakness croppe urviving him are his wife, Mrs. | of the other radio issues earlier in New high records for the year were estublished by a variety of -d out in some Sarah Hinchey; a sister, Mrs. Mary | the week. Patterson; three brothers, Lieuten ant Thomas Hinchey of the New issues including American Can, Bur- Britain fire department; Bernard|ioughs Adding Machir Glidden and James Hinchey; and three|Co., Stromberg Carburetor, Texas nephews, Thomas Hinchey, Jr. Ed- Gulf Sulphur, United Aircraft, and mund Hinchey and William Patter- | Yellow Truck & Coach. don, all of this city. | The funeral will be held Monday | Al Chm & Dye 2747 morning at §:30 o'clock at Hu»“,\m Can SO | | | funeral home of Farley & Molloy at | Am For Pwr.. 071 129 Capitol avenue, Hartford, and|Am Loco.... 120% at St. Peter's church, Hartford, at|Am Sm & Ref 1043 9 o'clock. Burial will he in St !Am Sug Bridget's cemetery, Manchestor. jAm T & T Anacon Ci | Atlantic Ref.. William Lyss | Balt & Ohio William Lyss, 50 years old, died at | Beth Steel. Cedar Crest sanitarium in Newing- | Bkin Man fon this morning following a long Can Pacific.. iliness Cerro De Pasc 100% FFuneral arrangements, in charge | Chesa & Ohio 2 of A. Vanukonis, undertaker, are Chi Ml & 8 4, incomplete, [Chi R T & Pac 124% | Chrysler Corp. 921 Colo Fuel .... 65% Com Power .. 1301 ongoleum 5% Con Gas Corn Prod Curtiss Aero. | Davison Chem. 57 —_— Wall Street ‘Brie/s i —_———— York, April 12 (#—Record production and shipments of refined copper in March were reported to- day by the American Bureau of Metal Funerals Mrs. Charles Price | Funeral services for Mrs, Charl s Price of Prospect street, Bristol, « held this mcrning at 10 o'clock | at St. Joseph's church in that city. | A requiem mass was celebrated. | he pall bearers were William ]"4‘ Sullivan, Patrick Nolan, Thomas Hannon and k. McKeon of this city, | and Frank Broderick and Martin ' Burke of Bristol. | we stics. Production increased to Burial was in St. Mary's cemeter. 1 tons from 141,385 in Febru- this city. |ary and 128 March, 1928, Shipments tos §3.806 i | 148,921 in February and 128,612 in | March, 1925, Stocks of finish per at refinerias in North and South America decreased to 52,965 short tons at the end of March compared M.s. Louls W. Hipp Funcral services for Mrs, Am | (Wicgand) Hipp, wife of Louis W. | Hipp of 128 Monroe strect will held tomorrow afternoon Lee at 3 ! . with 5 3 tons at the end of = jorclock at fhe home. Rev. DI iary and 62,749 at the end of March | | George W. C. Hill, pastor of the|jgag | Mont W | std Woolworth %2103 212% | Wright Aero . 244 1 Ao o ) Veeder-Root 47 , ; 9 T “Public Vdtities Stocs NOW ON A £2 BASIS | Allied Pow & t 81 4 The hoard of directors of McKesson & Robbins, Inc., ::33“1 '; & ; of Maryland, organized last ycar as a consolidation IConn Power |of the Irvington 1929, < Dupont 180% 177 180% - Eng Pub Serv 493 — Erie R R . T2% 71 k! Fam*Players . ‘ Fleischmann . » a . Fox Film A Freeport Tex. . Genl Asphalt. Genl Elec. ... Genl Motors Goodrich Tire. Hud Motors. .. Int Comb, Eng Int Cement Int Nickel Int Harve: Int Tel & T Ken Cop Mack Truck .. Marland Oil Mo Pac Members New York & Hartford Siock Exchanges * 31 WEST MAIN ST, NEW BRITAIN TEL. 2040 HARTPORD OFFICE, ¢ CENTRAL ROW, ToL 2113 Ve Offer: Fedsral Watzr Service Co, 5 Preferied rd Natl Biscuit ..185 Natl Cash Reg 128 N Y Central ..151 orth Amer }.104 North Pacific Pack Mot Car Penn R R.. Phillips . Pet Postum Co Pub Serv X J Radio Corp Remington Reading Rep I & S.. Sears Roebuck 14 Sinclair O1l 3 Std Gas & Flec 0il N J std Oil N Y Stewart Warn Studebaker Texas Co . Tex Gulf Sulph 837% Tim Rol Bear . §21, Underwood Union Pac Union Carbide 2144 United Fruit . 135 U 8 Ind Al U 8 Rubber . " B Steel Wabash Ry West Elec Willys Over Steck OTHERS&( | | Members Hertferd Stock Exchenge EARTFCRD hartford Comn Trust Rd NEW BRITAIN Burriit Hote! Bld5 We Offe 50 Shares FAFNIR BEARING CO. LOC! Members of New York and Hartford Stock Exchanges (Furnished by Putnam & Co.) :I‘l \v"hl ”"rli“ .\‘lrl‘l" New “"n«'“fl |.hl)fll‘ 2580 === Stnart G Segar. Mansger Insurance Stocks = = 2 Al s = Hid Asked g : Aetna Casualty 1900 1950 We Offe Aetna Life Ins Co Actna Fire Automobile Stanley Works and T 620 Jonn. General 2350 . 3 Hartford Fir 1040 American Hardware Hartford Steam DBoiler 6 National Fire Price on Application. Phoenix Fire Price pplication Travelers Ins Co 1900 Manutacturing Stinvke Am Hardware « BT £9 Arow-Hart & Hegeman 30 Biliings & Spencer . Bristol 1 City Company Colt's Arn Rle L fnir Bearing Hart & “Investments That Grow” Fuller,Richter, Aldrich & Co. Ga - Ll e COMMERCIAL TRUST BUILDING NEW BRITAIN N B Machine . 47 North & Judd = MEMBERS HARTIGR D STOCK EXCHANGE Palmer Bros Joseph M Halloran Tel 1253 Harold C. McKesson & Robbins, Inc. Peck, Stowe & Wil ... - Mot Russell Mf Scovill M Standard Stanley Worss Torrington Co Union Mg Co . of a group of wholesale drug companies throughout the country, have voted an increase of 25 per cent in the dividend rate on the common stock by declar ing a regular quarterly dividend of 50 cents a share on this issue, payvable May 10 to stock of record 47 April 20. This stock thereby is placed on a $2 annual basis as compared with $1.60 previously - paid or an increase of 25¢,. ' Hfd Elee Li 5 Hfd Gas Co com Hfod Gas Co ptd N B Gas United Corp ROBBERS GET GOLD DULLION Irvington, N April 12 (&) Five gunmen held up a messer Smelting fining company near the 274 Nye avenue today and with $16.000 in gold Ratrrre Uee Horald Classified Ads, | South Congregational church, will Engincering News-Record reports | Burial will be in Fairview that building contracts let throu | {out the country in the past we — | were valued at $70,412.000 com-| pared with $81 ,000 in the cor-| | Frank Leoni | responding weck of 1028, | services for Frank Leoni | i | | ace street will be held flll Coal Age says the bituminous | St. Joseph's church tomorrow morn- {ing at 9 o'clock. Burial will be in st Mary's cemetery, markets of the country were quict | in the lust month because of milder | | weather, Interest centered in the! | I new apring price schedules on do- | | mestic sizes, quotations showing radical reductions in some instances. Bituminous production in March is estimated at 39,.10,000 tons com- ! pared with 1,000 tons in Feb- ruary and 43,935,000 in March, 1925, The weighted average spot price for March was $1.82 per tonz, F. O. B. | mines. In February it was $1.56%. | Rumors of more oil mergers con- nue in Wall Street. The latgst re- ports, which lack confirmation, men- | Albert H. Bagley Funeral servics for Albert H | Bagley of 131 Pleasant reet were held” this afternoon v o'clock at Erwin Memorial ch following | a short service at the home at 2 o'clock. Rev. C. J. Fredeen, pastor of the Swedish Bethany church, offi- clated. Burial was in l'mr\lew‘ . cemetery. "‘ tion Sinclair Consolidated Oil Cor- CARD OF THANKS poration as involved in merger ne- We wish to thank our friends, | gotiations, poss<hly with Union Oil relatives and neighbors for the' Company of California, which also is | | kindness and sympathy shown us reported as sought for inciusion in ! | during our recant bereavement in|ihe recently announced Marland Oil | the death of our beloved wife and | Company, and Continental Oil Com- | mother., We especially wish to| pany Consolidation. thank the Visiting Nursec assoctation, the Lieading Star lodge, 8hepherds of Primary copper Bethlehem, the Machine room of P..United States mines production by also set a rec- & F. Corbin and the Suashine 80- ord in March of 3 short tons ciety. Signed, tons in February M. L. MORLEY, record was §6,450 | and Family. October, 1928. | — | Following the recent sharp reduc- | tion of ‘copper prices by Customse PLANT A GARDEN | e L 4 | WITH SEEDS THAT WiLL Grow | Smelters, Copper Exporters, 1Inc. i —WE HAVE THEM. | which controlx the foreign sales of | Atleo time now fer Luwn Dressin the metal, had lowered the export B e o price three-cighths of a cent & Shew A | pound to 19 5-8 cents. | EREN'S PUNY SHOP ,Blgv‘ "e Florist of New Britain” Greenhouses Maple Bl | TREASURY BALANCE x Treasury Balance, $355,6 Shop 53 Wost Mais 34 BO ‘ “The Telegra, | United States supreme court. FROM. TH From his palatial home at Great Neck, Long Island, Harry Sinclair, oil millionaire, must pare to move for a 90-day period to the Distriet of Columbia jail, according te The high court med the sentence of the Disty bia supreme court, which was the penalty for Sinclair's refusal to answer the questions of H;_w Senate Public Lands committee investigating the Teapot Dome oil ndal Sinelair, } .