Norwich Bulletin Newspaper, November 27, 1922, Page 8

~ FINANCIAL AYD COBMERCIA, - — SATURDAY'S MARKET New York, Nov. 35.—A wave of selling orders, sweeping Into the stock market In the last half hour and carrying prices down 1 to 3 points below yesterday's cioging level, provided one of the buslest “balf holiday sessions in recent weeks. Speculators for the decline found en- cotiragement for their operations in the continued lack of public support, inac- tivity of pools in representative shares ud the. apparentiy unfavorable reaction a3 expressed in prices, that the terms of the Bethlehem-Midvale Steel merger had upon markt traders There was a belief ‘In’some quarters that while operations were. at a high rate In the steel industry and sarp competition for busincss was | YNaving its effect on the earnings of inde- pendent companies and that an effort to roduce costs was a propelling force In bringing about the new combination. Bethehem “B" was depressed as low as 60 1-3, but later rallled to 61 5-8 where it represented a net low of 1 5-8 on the day ~Midvale’s net loss was 1 7-3. U. 8. Steel common got down o 101 3-4, 1t8 Jow level of the week and 1 1-4 points | under - last night's close. Vanalium, Lackawanna, Gulf States, Republic and Crucible Steels all closed 1 to 3 points below yesterday's final figures. . Studebaker and Baldwin were the 'principal targets in the final reaction, the former slipping below 117 and then ral- 1ying fecbly ror a net loss of 4 3-4 points | ‘and the latter touching 116 and closing at 116 3-8 for a nct loss of 5 3-4. Standard Oll of New Jersey, which was weak from the start, got down as low as, 134 3-4, but moed up to 184 5-8, Where 1t represented a net loss of six points. Other weak spots in the Industrial list were American Locomotive, Houston | ~Ofl, Columbia Gas, Corn products, May Department Stores, Postum Cerleal, | Standard Oii of California, Union Tank | Car ani United Retall Stores, the losses running from 3 to 4 points. X N Y Central ...... 91% NYNHG&EH ....20% Norfolk & West ...114% North Pacific . Penn R R - Fierce Oil ... Ray Con. .. Reoding Rep I & St . Rep I & St pi South Pacific .. 1th Roilway or ‘Tobacco ot Tobacco Prod A ... % Union Pac pr . U S Rubber .. U S Rubber pr U S Steel ... West'house El . West'house pr Willys O'land Willys O'land pr Worth Pump Liberty Bonds. High. Low. S Lib 3%s ..100.14 = 100.03 Close 100.10 98.26 S Lib 1st 4%s 98.26 $8.20 4s 97.T 97.72 98.30 ,98.04 100.26 100,02 100.02 R 99.32 99.40 Quoted in dollurs and cents per $100 bond. 3778 98738 98.06 100.28 Foreizn Exchange. With the exception of sterling, a) quoiations arc In cents per umt of fos clgn curremcy: Year ! Sterling— Demand .. Cables Francs .. Guilders Marks $3.90% 6.96 © Rafiroal shares also participated in! the decline, but not as extensively as’the industrials. Announcement that the pool formed in Rock Island early in February would dissolve Dec. 1 and that 40 000 shares of the stock womid be distributed .t $45 a share caused heavy selling of that lssue which got down to 31 1-3 for a net loss of 1 3-8 Losses of 1 to 2 points, also were noted in Atchison, At-, lantic Coast Line, Canadian Pacific, St @ ~Paul preferred, Chicago & Northwestern, Lackawanna, Louisville and Nashville, Missouri Pacific preferred, New York Central, Northern Pacific and Union Pa- -effic. 5. General Baking, which touched a new t0p, American Sugar, American Bank' Note and Kresge were the few strong, 8pots, the sales in each case being eorm' paratinvely small. Forelgn exchanges were firm, demand ' #t:rilng again just getting under the $4.50 , mark, while French francs hovered wrotnd 7.15. Caradian exchange was -back’ to par and Brazilian exchange continued to improve in reflaction of the femoval of restrictions in trading by the Brazilian government i The clearing house statement showed increases of $5 004,000 in loans, discounts and inestments $17.30.000 in the reserve bank and $26,103,000 In net demand de- posits Aggregate reserve totalled $506,- §30,000 reducing the deficlt in reserve £rm."$10,642.000 to $5,568,010. STOCKS. The following is a summary of the transactions on the New York Stock Ex- change up to 3 P. M.: Low Close 697% | 41 251 | Allled Chemical Allls Chalm Am noh‘ Cotton Off . Cotton ‘Oil pr Hide & L . Ten & Tel Tobacco 1 Woolen .. . . Anaconda Cop Asgociated Oil - ¥ Atch T & S F Y | Atch T & S Fpr Balt & Ohio . Balt. & Ohio pr - Brook' R T ctfs Butte™&- Sup ¥ Batte Cop & Z. . iz | Canadian Pacific ... ©ent ‘Leather pr . Ceut Leather pr ... Chandler Motor ... 1004 62 113% 414 10% | 16% i 164 175 14% | 9714 | % i 23';: 105% 31% 98% 11% 48% 4% . ! Crucible . Steel Del "& “Hudson Hupp Motor Car Ninols .Central Inspiration Cop 1t Horvester ..... Int’ Mer Mar ...... Kenneoott. .. Lehigh ~ Valley Maxwell Mot A _lssouri K & T pr wi 3! Ihpun Pacific inter and the' approaching bring financial problems to thosé of us who have no bank ac- its or- securities. There is fuel to buy, the children need - warm “clothing, family and gfl& should be remembered with {Meet these obligations the Bene- §! chl ‘Way—Consolidate your debts 4 ‘pay them off in six to fifteen ;ulmunh. hlll.omupto $300.00 : cgu.. WRITE, OR PHONE ° 1-6-5-4 Society 86 STATE STREET ‘NEW MARSH BUILDING NEW. LONDON, CONN." ;the cloae of the war. Lire .. Swiss fra; Pesetas Beglian francs Kronen Sweden Denmark Norway Greece Argentina Brazil .. .. Chicago Gram Market. Low _ Close 5 115% 115% 106% 69% 68% 63% 42 42% 39% Wheat— Dee. May J ulY 115 108% 69% 695 65% 42% 42 39% Corn— Dec. May July . AMERICAN MANUFACTURES INVADING BRITISH COLONIES American manufactur.@ are evident- ly gaining m .'O,'.‘ul'g:ly among - the peoplo of the Briti: ionies. more interesting, says the Trade Rec- ord of The National City Bank of New York, in view of the fact that Great B.i the one great marufactur- of the United which is now vigorously ‘ex- pioiting the ma.kets of the world, and quite naturally her first effort would be to regain any losses of which had occurred in supplying her own ecolon- ies. But our own trade figures indi- cate that exports from the United States to British colonies, protector- and dependencies are forming a iily increasing proportion of our total exports and forming at the same t"h, an increas.ng sha.e of the im- s of those colonies, and of course all of the merchandise whkich d to them consists of manufac- Curiously too, adds ‘the Trade Rec- ord, this growth in the share which merchandise for the British colonies forms of our total expo: is a_mark- ed development, of the period since In the fiscal witich covered in part the ear of the war and in part year following its close, the value of the merchand. sent from ’the United States to B.itish colonies form- ed 15 per cent. ¢f our total exports; in 1920 16 per cent, 1921 19 per cent. in the fiscal year 1922 20 per cent. in the 8 months ending with August of the current year 21 per cent. and in the closing month of August, the)lat- est for whkich details are available, 25 per cent. The increasing popularity of ; American manufactures in the British | colcnies is further iidustrated by the {fact that India, in 1920, took 12 'per !cent. of her total impcrts from the Cnited States as against only 3 1-3 per cent in 1913; Australia in 1920 took 24 per cent. of her imports from us gainst 12 per cent. in the pre-war pe.iod; New Zealand 19 per - cent. agaimst 10 per cent; Union of South Africa 15 per cent. against 10 per cent. in 1913; and Egypt 15 per cent. as against 2 per cent. in the year pre- ced:ng the war. This inerease in the popula:&ty of American manufactures in the Brit- ish colonies is quite natural especial- ly as certain of the more important ones are in very close touch with the United States and the habits of their people similar to those for whom This is ! | popularity of Am Noied British Economist ——— I33Q733. ~ COPYRIGT VNDEAWOOD 4 UNORAWOOD, S ¥ Speaking at the bapking session | of the American Manufacturers Export Association convention in- New York City recently, Sir Georg: Paish, noted British economist, wi ‘was Bonar Law's opponent for Par- liament, declared that Europe was. being dnued to the brink of ruin by statesmen and politiclans devoid of knowledge of the fundamental principles of economics. He also said that America was adding'to" the confusion by erecting tariff. barriers preyenting debtor nations from fulfilling thelr obligations. These conditions are reducing the world to bankruptcy, in the opluion WEEKLY PAYMENTS IF DESIRED AT A SLIGHT INCREASE. 'SCHWARTZ BROS., nc. Only $98.50 “THE BIG STORE WITH THE LITTLE PRICES” Opponte ‘Porteous & Mitchell Company 76-82 MAIN STREET Eu—:_:u=u<=:m=u=m=nc==x United States manufactures are pro- duced. In Canada, where the habit of the people are quite similar to our own, merchants also find that they can_ have their- orders filled from the United States much more promptly| than from across the ocean, and the share which we supplied of Canadian imports in 1921 was 69 per cent. against 60 per cent. in 1’09 and 65 per. cent. in 1913. Just a few examples illwmstrate the demand of the British “colonies” for American gocds. Exports to Australia even in the “lean” year 1922 included approximately 10,000,060 yards.-of cot- ton cioths, ut $2,000,000 worth of lumber, 30,000,000 gallons. of petroleum in its various forms, ‘10,000,000 pounds of steel plates, 25,000,000 pounds of wire, * $6,000,000 worth of automobiles and trucks, and 17,000,000 feet of mo- tion- picture ftims. . India teok over 2,000,000 pounds. of evaporated milk, boots and shoes for men and women, leathér belting, cotton cloths, canned | fruits, automobiles and tires, cotton! wearing apparel, iron sheets. and}i plates, tin piate, steel rails, wire nails, barbed wire, . incandescent lampes, electric fans, sewing macijines, type- ‘writefs, andl many oOther forms of high ‘grade manufactures: An this manufactures extends to the other British colonies the world over. THE DEMAND.OF THE ORlENT FOR AMERICAN MANUFACTURES The sales of American manufactures ip the Orient continue to grow despite the efforts of our foreign rivals to check the demand for the product of our -factories which developed-in that part of .the world during the war per- jod. Merchandise sent from the United States to-the Orient, says the Trade Record of The National City Bank of New York,.formed oniy 8 per cent. of our total exports in the year preced- ing the war, but the share has stead- ily increased, year by year, and now forms 15 per cent. of the total exports of that part of the calendar year, 19’2‘ for -which we have a recor practically all’ of'’ this rfimhsndm which. we:send to'that part-of the world’ consists ‘of manufactures. These Sgures, adds the Trade Rec- ord, compare the operations ~of - 8 months of the calendar year, 1922, with those of the full year preceding the war. We rigw have details of the to the various-grand ‘divisions in the 8 months ending with August, 1922, and by ‘comparing . the. -percent- age ‘of the 1932 -distribution with cor- responiding official figures of the .year preceding the war, it is npumt that the share which the Orient takes of our expor#s has steadily gained, year by year, while that taken by the other sections of the world has declined. Our |- exports to Europe.n the calendar year 1913, were 60 per cent. of the total merchandise sent out of the country and in the elapse period of 1922 are | but G4 per cent of the total. Those to North America were over 24 per cent. of the total in 1913, and in the 8 months of 1922 are a little more than! | | | 23 per cent, while therc is also a slight reduction in the percentage which the 1522 exports to South Amer- ica form of the grand total when ecom- pared with the figures of 1913, the latest pre-war year. To Asia and Oceania, however, the percentage has practically doubled in the period 1913-22, standing at 8.3 per cent. of the total exports of 1913 and at 151 per cent of those in the 8 months of 1922 for which we have a record. In fact, the total value of the exports to Asia and Oceania in the 8 months ending with August, 1922, is $365,000,000 against only $208,000,- 000 in the full calendar year, 1813. The exports to Asia and Oceagja in the 8 months of 1922 are at the rite of $45;- 000,000 per month against only $17,- 00,000 per month in '1913. And practically all of this mer- chandise going to the Orient is the product of our factories. Of passen- ger automobiles, for example, the total to Asia and Oceania in the 8 months in question are over $7,000,000, of which $5,000,000 went to Australia and New Zealand. Of motor trucks the total to the Orient was about $2,000,- 000 of which over one-third went to Australia. Wire nails sent to the Orient in the 8 montns of 1922 amount in value to over §$2,000,000, going es- pecially to India, Japan and China; cotton cloths approximately 12 1-2 million dollars, going to Australia, New Zealand, India, China, Japan, the Dutch Bast Indies, the Straits Settle- ments and Hong Kong, from which they are distributed to sundry coun- tries and islands of Asia and Oceania. Cigarettes exported to the Orient amounted to §15,000,000 months of 1922, of which 11 1-2° mil- lion dollars worth went to China, near- ly $2,000,0600 to Hong Kong, and ap- ‘proximately a million dollars to the’ Straits Settlements; automobile tires appromixately $2,000,000, £oing especi- ally to Australia, New Zealand, India, China and the Dutch East Indies; condensed milk $3,000,000, going t practically every country of Asia; and steel sheets and plates over $20,000,- 000 worth, of which more than one- half went to Japan alone;~the remain- der ‘to China, India, Australia, New NORWICH, CONN. in the 8 ‘C,.‘; YOU CAN MEET THEM PROUDLY THANKSGIVING DAY " With a handsome new Dining Room Suite, like this one. Let us help you make this Thanksgiving a rull h:l:&y. We offer this eight-piece high-grade Walnut Dining Room Suite at the LOWEST POS- "SIBLE PRICE up to Thanksgiving Eve. DON'T HESITATE — CONSIDER IT TODAY, BEFORE IT IS TOO LATE. , Zealand, the the Dutch E:xst Indies. Avold “Smoker's Throat.” It is often said that you do not get Idl of tobacco in cigars. This is a mistake. The ofl is there and Is no 'more burnt away or evaporated than 'ln a pipe. It is drawn to and con- densed in the end of the cigar between the lips of the smoker. For this son cigars should never be ed to the last inch. Certain cennoisseurs will never smoke a cigar more than threequarters of the way through. Smoking cigars to the bmer end pro- duces “smoker’s throat.” As soon as a cigar begins. to taste bitter, throw it away, rea- Aunt Het. “I notice 2 man gets mad if any- body interrupts when he's talkin’, but women ain’t havin’ a good time unless they're all talkin’ at once "—Exchange. " ANNOUNCEMENTS California Ealsins Now Packed in Tins. The latest development !n food products has come to I the annouricement of the Sun-M sin Growers that a portion d Ra! of the immediate future, announcemént, which comes coast, the growers have, after years of exhaustive research the Sun-Mald laboratories, evolved process which will bring the rai. the housewife in as near the ori; condition as possible. ‘The distinctive features claimed the new pack. are. none of the original keep indefinitelv in anv moisture, climate any._conditions. In the packing pr from Jected seeder. They are then tight pack. Becaure of the vacuum sealing pro- cess, climatic conditions will have no effect on this pack. In addition to these features, the cap- ned raisin should prove an economy for| the housewife in that she may purchase them in any quantity and keep them orf 10c lm,AwSWadth.Lme Wants, To Let, For Sale, Ete. secesssssesvacem Classxfiabon.-...-........‘..... teteseetsascssnonse vovseteassestiiite S LTS Straits Settlements, and canped | with this | year's crop of ramsins will be packed in tins and will be ready for the market in Accordinz to the frem the for that they will losa will and will retain their original flavor under s3 tho raisins are put into the cans just as they come hot sub-{ a steam sterilization proceas and the can sealed as it is discharged from the steam oven. insuring an air- hand for emergency purposes without| |fear of any deterioration through long nding, The pack will be marketed under the | Sun-Maid brane. 'Tklnlflzh'lng Week Pregram st h.{ Brociway. Setting a thief - old adage that Edgar Selwyn has put fn an unusunl manner in the wrl Ccn-l\ance '!‘:l'madge The which is developed along comedy| invoives a keen-witted novelist plot, lines, sensational circumstances to enhanck the sale of his latest book. Taking ad- vantage of supposed demise his val for the hand of presses his suit and marriage. As the glamor of married life wears| off the supposedly dead suitor returns and mutual explanations are in order. 7¢ ! !s of such unusual material that Direc-| tor Sydney Fran has welded Con- + Talmadge The Primitive I lonal attraction which wi be the IL'le |ture at the Broadway today. As the| two former rivals clash under different {circumstances their feud s remewed. One presses his suit in the approved style of modern conventions while the other, a man of foreeful. domtmating personality. demonstrates the caveman method of love making. Mis Talmadge Is surrounded by onme| of the best casts she has ever had for| her screen productlons. Harrison Ford who played leading man In Smilin' Through, and Kenneth Harlan have. the dual leading~male roles. The remain der of the company includes Joe Robd- erts, Charles Pino, Chief Big Tree, Ma- tilda Brundage, George Plerce and Clyde | 1| Benson. _The adaptation for the saeon, was made by Frances Marion. Dawn of the East, a stirring drama r‘i oid ‘China and new .America, will be| here today at the Broadway as the sec- | ond feature with Alice y starring | I This im the third of a sefies of forez: | roles in which \Realart has recently | presented the star. In the first, The Land of Hepe, Mis: iBrady impersonated a- Polisk immi. igrant; in the next Little Italy, she had | the role of a flery Ttallan hercine; and the present offering, Dawn of the East, | e appears as an ‘aristocratic Rusamn | retuz(-e who is stran@ed In a Chinec: | port city-and foreed to earn her ltin, by_singing in a notoricms Chineme c2fe.! Miss Brady's dark coloring and tnter- esting persomality well fit her to take these intense forelgn rfoles. A comedy s also shown. Note!—Starting Thanksgiving dar there will be a coptinuous show every Saturday and holiday. Phyllis Tomley. wins her hand Inj Stramd—New Playing. Perhaps the most remarkable storm | scene aver pictured on ‘the screen,.is) | that which spreads terror in, =nd piac- ) itically destroys an entire village erect- ]«‘d for The Old Homestead, Cruze. Twenty i powerful wind machines, aided by a fire | engine, were emsloyed in this excep- onally realistic elemental disturbance, The storm that wrecks the town of {Ganzey ‘is a humdinger. The viliage was a good sized one of forty or rhore houses and all wers erected = for ‘de- struction by the hurricane and deluge. i Their roofs are blown off, thelr shutters | tion -;scm-m was | theatre 1 -[] g | [ o spreads rumors of his death under |, \\nll.(,,_,". - arraigned "1 cour? A Yool There Was Showlsy st Brosd Something unusual in the way of mo wn at the Breet last might when the ment offered A Fool These Wus, the famous poem, The Vampire, by Rudyard Kipling. it proved a 4 2nd servad the screen entertainment. ampire back te Fox, the o el dose of blatant sex appeal. and moving ampire gowned, espe rection 1s & on The { thur’s C and an Edlucat! Christ Chareh school room, cers and c union service a tarday -morning, - the Junicr Auxiliary #chool room Tugh Walpole, Hugh Waipole, aerting of in the churck n_Siater Izl the worid Tonight. | eliat, Norwich Community JHUGH WALPOLE 'Y his appearance will_be l 3 event.” - The tour of Hugh Waipaie Dottt Bsten 5. S vy ul intare est and importance from. tha fagt more that' any bther Pfitl"u‘;flw. Mr. Waipole' has -popularized contem- nry American writing abroad, | pole’ ‘hn’" aocelm-w -.- ‘!hflf" %