New Britain Herald Newspaper, July 1, 1929, Page 7

—— e BANK OPENS NEW TRAVEL BUREAU Commercial Trust Co. Inaugu- Tafes Its A7th Service In line with its policy to provide every possible financial service under one roof, the Commercial Trust com- pany announces this week the addi- tion to its facilities of a travel de- partment. “This banking John C. not expect it by the last one. We t until we vesidents of malkes seventeenti President “hut we do ¢ means (o b are not going to make it possible New DBritain to service Loomis tod said PRESIDENT LOOMIS find on our two banking floors every financial permissable under the laws of the state of Connceticut “The installation of travel depa ments by bank is one of the new partures in American finance. New York is honeycombed with travel azencics and travel, both domestic and foreign, is growing hy nd bounds each year. 1 know a fact that hundreds of New Dritain residents in the course of the y have to zo to New York or large cities to make travel arrange- ments, “There service caps for ar other is no reason in the they should not e world able to s time and tronble by planning their trips and being fully here at home “Our new facilities will enable ns to arrange itinerary, steamship, tickets in ¥ a prospective whether it traveler's is by railroad, or hus, secire arrange hotel provide for guid ssentials for trave nd profit, airplane, advance reservations and maps and other ¢ tng with plea Tel. 5200 s A cquipped right | New Britain “It is surprising at what low cost | it is now possible to take an ex-| tensive trip and broaden one's out- | look on life in even a short two | weeks' vacation. As low as $100 will give one the equivalent of a sea trip | on a palatial liner with every com- | fort and convenience, side trips on | shore, beautiful scenery, musie, | dancing, and what have you. Or if | {one wants to see the west, he can | !go in perfectly appointed pullman | trajns with leisurely stop-overs. Trips | to Bermuda, Havana and other | southern points in the colder s2a- | sons up north are also quite inex- | pensive. | :“We should particularly like to | stress the point that our travel de- | partment would be glad without charge or obligation to provide full information and travel suggestione to anyone who is thinking about taking a trip. Then when the time comes to get foreign vises and cnt through the necessary red tape at- tendant on a foreign trip, we will be | able to expedite matters. “In addition we can arrange to have travelers using our service met at foreign ports by experienced travel representatives, assisted through the customs, and otherwi. sent ony their way rejoicing.” The other sixteen banking servic provided by Commercial Trust cox pany, now over thirteen years old, include commercial banking in all its phases, both domestic and for- cign; cheeking accounts; savings «c- counts; Christmas clubs: vacation clubs; industrial certificates of posit; industrial loans; personal and corporate tru investments; safe | deposit boxes and storage; mortgage | loans; foreign exchange; letters ot credit, and through the Commercizl company all kinds of insurance and real estate rentals and sales. 01d Industries Lose Men To New and Growing Ones | Towa City, Towa, July 1 {P—A | rapid trend away from farming. | manufacturing, railroading and min- | ing and a great increase in the num- | ber of employes in eight other indus- | tries has developed in the last eight | years, according to Dr. Dale Yoder of the University of Towa More than 2,300,000 have left the four industries, says Dr. Yoder. | since 1 while gains shown by other industries are: Building, 300.- | 000; auto selling. and servicing, | 750.000; hotel work, 500.000; tele- | phon companies, 75.000; public school teaching, 135.000; insurance, 100,000: barbers and beauty par- | lors, 200,000; secondary schools, 100,000, FLY IN THE OINTY New York, July 1 (A minority of bankers appear disposed to stand aloof from the general chorus of high hopes regarding the repjara- | tions scttlement. They temper their | optimism with the dark blue thought that “business men and economists have evolved a settlement, but wait | until the politicians get through with 1§ ¢ ENT Members Hartford 75 Pearl | ings { profits originating in its own invest- | from commissions on the s | ea | of average age aggre, | Great Hartford NEW BRITAIN DAILY HERALD, MONDAY, JULY 1, 1920. AM, FOUNDERS 1S LEADER IN'FIELD, Forms and Directs Other Invest- ment Trusts—Profits High | By Prince & Whitely American Founders Corporation has attained a leading position in its | ficld, which is primarily the organ- 1zation, development and supervision of other investment trusts. The! corporation at present owns a large interest in four affiliated trusts and turnishes them investment service for a regular fee. In addition to this American Founders operate s an investment trust on its ac- count The corporation derives ils earn- from dividends, interest and on ment portfolio; from dividends paid on or profits realized from the sale of junior seccurities in affiliated trusts; from the underwriting of | curity offerings of affiliated trusts; le of trusts; from | curities of affiliated carnings realized by the trading or- ganization. Founders General Cor poration; and frem annual supervi- sion fees as follows: from Interna- tional Securities Corp., 4% of gross nings; Second International S curities Corporation, annuall total resources; U. 8. & | British Internaf'onal, annually first 310,000,000 of resources and 13 %5 on average resources in excess of ten million; American & General | Securities Corporation, 3¢ ¢ of aver- gate resources. 1% 3 ot Junior Equities in As of November 30, 1928, Ameri- can Founders Corp. owned the fol- | lowing Class B common stocks; In- | ternational Sccurities Corp. Class B, 430404 shares; Second Interna- tional Securitios Corporation Class B, 500,000 shares; U. S. & British International C S B, 169 shares; American & General securi- ties Class B, 300,515 shares; the en- | tire capital stock of Founders Gen- eral Corp.. a majority of the capi- | tal stock of Tnvestment Trust A ciates, ahd the entire capital sto of American Founders Office Build- ing. Inc.. which owns the land and buildings at 50 Pine street, New York. o- Exclusive of holdings in affiliated trusts, the investments of the poration, November 30th, 1 diversified as rollow BEOgT distribution, United States Britain, 12.14;; Central and South America, 4.3 Continentai Europe. %;: Japan and Asiatic countries, 9.3% ; cash, Distribution by class 21.9G¢; preferred stocks., 1 common stocks, 42.8¢; ; cash Governmental and municipal bonds accounted for 9.4% of investments; Industrials. 15%; DPublic Utilitic and rails, 9% ; financial institution cor- | were phical 19.244; | honds | changed [ for the | rights Annual | cessitate —_— 0% and the balance cxclusive of ash in miscellaneous activities. Shareholders' Profit Record Shareholders who invested in the original units offered by America Founders Trust, have profited to an raordinary extent. Toward the close of 1923 the common stock. then on a dividend basis of $4.37% per annum became worth —above $100 in the open market. The shares then $25 par, were split ul he rate of 5 new for 1 old, into - value shares. The new shares . were up to $85 and a dividend was declared following Februarw, the had again doubled in market In February, 1926, another 2009, stock dividend was declared The new shares were soon selling above $30 and since that time they have advanced more or less stead ily, reaching a high of $146 in May In October, 1925, when wrican Founders Trust was to American Founders Corp., 2 shares of the new corpora- tion stock were given in exchange old trust stock, so that the American ‘ounders Corp. common shares represent the - 1 American Founders Trust common shares in the ratio of 120 for 1. = present Valuable subscription been issued from time to time ing the 192§ s have Dur scal year, subscriptios: were issued having a value of at least $10 on the shares prior to the October slit-up. Similarly the holders of preferred stock 1« ‘Yl]\l"l during the year, the equiva {lent of $5 per share in rights. MILLIONS HOLD SHARES IN UTILITY GONCERNG Survey Shows Revenue ol Powcer Companies Growing But With Many ields Still Open York. July 1, (®—Bonbrig and Company's annual survey public utilities points out that th gross revenue of all electric light 1d power companies in tthe Unit-] States has increased from $85.700,- 1502 to $1,908,900.00 in 1925 survey states the principa ns for confidence in the futuic growth of the electrical power in- se include the t of by fact that onlv the nation's farm lighting companie only two-thirds of the country’s in abitants live in wired houses. Io than two per cent of the railroa electrified, and the lighting highw airways has hard 110 per ce served ys and > million s the public suport exceed $25 stocks in railroads, The survey predicts continned ex pansion of the nation’s light and power requircments which will ne- $2.600,000,000 in new fi- nancing during the next five years investors atilities' bulwark « Their total holdin 000,000,000, exclusive s R ,,,,,, — BERLIN SAVINGS BANK KENSINGTON, CONN. Incorporated 1873 ~ 59 Interest Paid to All Depositors for Nineteen Years The Berlin Savings Bank is a Mutual Association conducted for the benefit of its depositors. This Bank always maintained that the depositors should share in the profits earned on their de- posits from year to year, after a suitable reserve has been laid aside for surplus. Thervefore, commencing in the year 1911 the Berlin Savings Bank established a dividend rate of I'IVE per cent per annum to all depositors regardless of the size of their accounts. Thus we have the unique distinction of beir.g the only Savings Bank in the State of Connecti- cut which has paid FIVE per cent interest per annum to its depositors for a continuous period of NINETEEN vyears, yet at the same time has increased its Surplus from $50,000.00 to $60¢,- 000.00. Assets $7,650,000.00 Dividends are payable January 1st and July 1st s i Surplus $600,000.00 Deposits made during the first three days of any month will draw interest from the first day of that month. Books issued in two names, payable to either or the surviver, Money may be transferred from one account to another at any time without loss of interest. Deposits may be sent by mail. OFFICERS: Frank L. Wilcox Ernest W. Mildrum Henry C. Deming James J. Fitzsimmons Ruth Warner President Vice President Sec’y & Treasurer Ass’t Treasurer Ass’t Secretary INSURANCE and BANK STOCKS The year of 1929 has witnessed many changes in the capi- talization, par values and ownership in the above stocks. New York Banks have had many mergers. Almost unani- mously they have lowered their par values. Many Hartford Insurance Companies have been allowed. by the Connecticut Legislature, to increase their authorized capitals and reduce their par values. We believe the stocks of these companies, recognized as among the best investments in the world, will enjoy an active and broader market. SHAW & COMPANY Stock Exchange Street Tel. 2-0161 Direct New York Telephone Canal 4517-18 Waterbury Tel. 4738 Wilson & Co. " Investment Securities HARTFORD 75 Pearl Street Tel. 2-7111 NEW BRITAIN 55 W. Main Street Tel. 5800 We offer a list of high grade, thoroughly investigated securities. Any information desired regarding any partcular type of investment will be cheerfully given.