New Britain Herald Newspaper, October 25, 1929, Page 2

E > 25, 1 1 ISR orce Tt e LT Enbitoiina Washington Watches positions when the break actually — Senator Edge, ranking republicin WHMAN BHUNE fi¥ER | ) trl 4 et ned Washington, L flicial arrived on the banking committee, expre vashington kept a ful eye In the absence of tary ed the opinion that speculation and 4 T ound [ iy t 1 Vall street y an ) the mont, Grosvenor Jones, dircctor of | *th indefensible increases ) { B Uy Sin tria e disastrous slump i 1 ¢ tment, summed up his ortunate method of e \ 1a1d beeau ices necd 1 no f- v situation with the as-!ment,” he said, “to cost t 5 upon th ¢ s sertion that the market can no of ns their fort ructure of wation. longer be considered a barometer of seen h been i The view w need dir 1 prosperity., Meanwhile, the weekly warters that 5 market | The department's indexes show. |of loans to brokers and d reflectior continued, that business is in a|New York federal reserve althy condition. He asserted that & issued, show ) rid 1 husiness has not reflected the vari- tinuation of the do sound cconc s ous turns of the market in its up-|that has char ould be no i t a ward climb and that the sudden s of credi crash of market values should be | cession for the atte ts were made irded by the business man. ber 24 of §1 |construe the action of the federal In addition, he expressed the view |total of the preceding |reserve board in meeting late - that the slump may prove a benefit |largest decrcase noted in and with Sccretary Mellon to business. If stock prices reach |montt \ ‘ 3 = ttendi 1 adjourning without a 1 basis and cling to it, he S TR S | | - = /A A5 { announcement of ¢ id, much of the money that was ’ i 4 s PARK[:R'bM”H E{]. A ai wn into Wall street by the recent | LOWR Awaits Return sl y | E & 5 or might afect the situation in and unprecedented bull market will Of Collector Watrous v { T N ' 3 v X all street. be turned back into the usual busi-| East Hampton, Oct. 25. (®)—1 Gt o Ui, LNULU, | 3 ) 53 : Y as drawn the view ness channels and give the smaller | entire town awaits the return her / & : SR that the board cither considers the industries throughout the country| under custody of a state officer of D | ik § 3 Sadesnt general improved credit facilities at carlier | Herbert D. Watrous, former tax col : | ¥ (A 4 / hat business will not be rd e e \ by the security decli King U Action | mixed, wi e : h pointed out that The situation in Wall street drew onths the highly speculative con- from Scnator King, democrat, | Tllinois, on a request from tion of the stoc cet h . he assertion that he will | cut. It is understood con wetion rdinary ar = proposal for a congres- | through a pay check whicl normal es from the fie investigation of the effect of | ed a few days ago ! actual 1sines ank dit on stock market prices The check was given to Watrou ted 1 E when the regular session meets in' by M, Durr, of Deep River for s Chairman Norbeck of | ary and commission and when it was senate banking committee an- | returned through the bank the first cd that the King proposal has | definite clue to the missing man was { obtained. BELGIANS CONTINCE S appr npany ruted that of- of company > criminal acts of | | ents on the appeal. | Samuel E Hn\v‘ by ad ad issned don-| double set of | ew Have New Bri e Cony ROAD ceosses v i T G tuocs The Magic Source of Pleasure € 1 u srenes Wy Both rothed i at last night's gal: . s Used Money Regardless Marie Jose en 2 o med the men regated quet hall on the f he 1 ite in their bus onl. 3 ~ | R d. S ter-in-law, T t t t ivi i ‘ & Gen novemen The bankers asserted that al- |M Duchess of Braban Y eth |tion anc t ¢ inite At 5 e na ¥ ium, Cardinal Vanroey. por L nd thel 1el¢ ty. U. ing re noon, the v i ihe Drincess Wore o dre r T r ; 1.50, in the later hours of the on had and blue brocaded mousseline ekl nse c | BARELY MAINTAIN { | an Can s 1 carried many stocks well above ew a train, sl d lace : 1t \ was no 1 E 4 back §2.24 n Kod: we their lows for the day. They saw little pea a dia and pes b hs, the atat STDGK STAB“ ITY 3 n d t 5 ound for a prolonged state of un- ||j Hit g t L i \ g e et S G 7 N0 Predictions Jssued (Continued on Page Two) i ) s i d ing the trend of the s ng the next few days | during the same interval yeste ow as well as we do As the session wore on, howev 2 o Stoek aaaricetl Wil Aon Fiautl e : pace of trading began to catch L e b 4 Tt Rere long upward il . %D ayeanpenred 1115 the ticker quotations were 63 . L A d. That is all, The s Il as Uery n 1 in transactions a : 1 . uation that |# olved in e tadio ) ) 1 ed Thur however. was | a S cneral Motors. 6 3 B to technical Conditions ™ T day, they were 68 minute h Employes Nearly Exhausted f ling. Big airholes appeared in | ‘ . f Sne 0T oW eueny i 0ok (radgrsy o eYEs s still at fever piteh t Bt W | | 1 TUBES et . d to adjust themselves somewli. s 1 e 2 : H i WA agreed, that Park- ;. inancial distri , Ma ly “air loles” Mr, Lamont 1§ i \ (4 the huge turnover of sha holes r. Lamont ex i I and the €S Tug- pla ant all buying inter- {there was noticeably less noise and |gled through their : o e Had 200 Counts on Tap fon on the floor, although the {y nd h e spre between previous 75 TONE e Hehaan g shouting again prod 1 ; : 1d what 1 b Y as be heard in Broad and £ pald Ay " | tions, while at the same tinr nd of what was go- points. most excitedly arou ; ut s 3 the curh exchange ! l | i el | post No. §, whers Montgom- | this f N act wa | alor it, 6.337.400 shares ! I g 410 e -Ward is traded. This stock rosc " i : ) | che 1 wing the curb gadn of $3.75, then reacted to hionzat it e , to 75 points. Markets in other cen Some Profit Taking o . vest t also ected. The smash - . % T M conmiaoni i ¢ O "™ was communicated to the commod- | |8 ATE] st anky PRICE N | roown 1 and f e was considerable profit-taking v AT ets, driving down wheat and | = ] | o | | L salaries of $16,000 each, wi hen it turned sharply upward beams of sunshir . Niehtry) cussions in European markets, i \ o . ] 5 = t P 10t late in yesterday's session. Traders [storm. Desy g } . Qpeningiaccady ! \ ~ T | l[ Y !N BREHERY ‘ ense of tho term.” | who wore able to buy around yes.|ihero were more che The market opened steady on the ‘ 7 v ! : 11319 Slads clate, Charle ar- | terday’s bottom levels had profits of s than have bee ocl nge but with stocks of- Z 2 — A R d Y W Be Y op ! that “whi lefe 210 a share and more in many eral days, in ominous volume. Blocks of | |4 : adlo Iou il s 7 theyil stoclee | 20,000 sha of Kennecot Copper, i - Li l‘] SO K0T ye ¥.| Furthermore, ny holders of Reassurancee Tssued 3o R s € : PrOUd to Own stocks who failed to sell duri Vew York, Oct. 25 (P —Tcassur ) £ r Oil with a long list rightened rush of liquida ments issued from t aa liof 0 share blocks of leading o e el B bt o B ] PRICE $155 red from severe nervous strain s morning to get rid of ! tocks, despite reassuring s \ents | yesterday threw their holdings overbard friom lea A < While price: ¥ P 1 - th would bring, thou exeen ¢ ¢ Slires L san ounts were wiped out an S b 1o commission house i . fices a | A fight to keep United Y . h 1 f A M l e i S el reat bulk of its Y : rence Thomas W. i cel, the barometer of the market, |B our o ce " Ily a s the mort | the form of | in the Morgan firn king above 200 failed and it fell with the W Glarente | buying or half a|t yup, said their cons - market to 194 1 fozen of its wealth Jstomers. | that the foundat ¢ The floor of the exchange Wi Many Buyers Att ted were sound; the e ke mass of screaming dishevelled men s e ol Soebno ; e e Atwater Kent ly transact attracted a hu t fund ¢ Soeiderati offers and waited several minutes | v of buyin T e par ) at many 1 stock for takers while their stocks dropped ' | o ers who hav for s 100 1o Still lower. Several brokers collap- Radlola ttom of th § W P ent, backed 1 n- sed and had to be helped from the Installs onsiderable further s v ne s f ;, floor. The din was audible for blocks e e s e §| Majestic Any Set i e it s haa Dardly reac toor You Want ing cor 1 \ in | the R thos¢ milling about the stecl the tick \ All Records vere electrified by an offer to Kolster hou ne e mar \ . cords for | I ,000 shares of United Stecl ring the first half hour was « Jatallor 1% o0 eh S The order was placed in the ||H VlCtOY se G d of more than 0,00 atin Gparate ex figured D of Richard Whitney or Rich- || Every t uarantee By Us Jut compar } 800 i the dayis transacit The pre- 1 Whitney & Company, a brother G record was §, 0 shares, | of Geor ‘hitney, a partner in the rebe- y g A i ‘ SO e banking firm of J. P. Morgan & Co. | Ivery Set Purchased Here is Serviced By Our Experts After long hours of gruelling labor | After the close market the Mr. Richard Whitney is known in 5 through the nig tock | ¢ i the street as a “Morgan broke . Zenlth In Other Words pme group of 8 who had met i wing Corp. was able 2- wm,’f in X[!‘ day assembled That marked the turning point ||§ COMPLETE SATISFACTION 11 a. m. to announce tha the Morgan offices. They were |and the rally was soon in full swing. gs of all of yesterday's d | harles I, Mitcholl, chaivman of the | But the confuslon ¢ d unabat- | \g transactions, totalling 12. e . Albert H. Wig. | od. Brokers beg: ng without | ) shares, h n completed | o o £t I National | knowing th of their stocks, WIFE SUES FOR DIVORCE Rt alLEh o daes RIoaR D SOl liax o, pre for the ticker was hours behind to 30 points and some a lose of the day showed . Steel had L net gain o Net losses of 10 or poins were many, however. Wall street’s b day attracted thousands to t rrow little thor- fare. They milled about the en- Gains Averag end of 1ce {o the exchange and crowd- H* o i veral hed e o T e ed the s of the sub-treasury | 4 SAN AT fAis verelin i 7 wcross the street. | B, Tecon "r" R e Thers s little. for rs Staffs of brokers' clerks labored | PHONE 389 overnight ¥ com 5 over their ledgers at night hrll\gi“n‘ e Si lair-F: rEe v 3t < 1 the T brought a fair amoun of buyin 8 their spokesman , Y8 0 i e e oy order out of the chaos wrought by of conspiracy to defraud the g yrders, and but little more di ss | fa S ¢ s ’ N rolume ine: ment of the Teapot Dome nav USE HERALD CLASSIFIED ADS made its apearance. been well maintaineds the stupendous volume of busine