Norwich Bulletin Newspaper, December 13, 1922, Page 10

PS—— NORWICH BULLETIN, WEDNESDAY, DECEMBER 13, 1822 FINANCIAL AMD COMMERCIA} STERLING EXCHANGE STRONG. New York, Dec. 12.—Chief interest in today's financial markets centered on the further spectacular rise in sterling exchange, demand bills touching $4.63, an overnight rise of 4 cemts, and a new high price since 1919. The extreme low was $3.18 in Felruary, 1920. Today’'s rate brings the depreciation from par, which is $4.86 5-8, to les than 5 per cent. Under the provisions of the new tariff act when the depreciation is 5 per cent. or more, the valuation of for- eign currency for customs purposes shall be “the buying rate in New York at noon on the day of exportation,” which is certified to by the federal reserve bank. When the depreciation is les than 5 per cent. the customs rates are based on the par valne of exchange. Thus if the present sterling rate is maintained it will automatically serve to increase the Import duties on British goods. Spe- clal operations, the nature of which was not divulged, were held responsible for the heavy selling of dollars in the Lon- don market, which precipitated the rise In sterling here. Stock prices showed a much better tone buttrading was again almost en- tirely a profesional affair. Speclal stocks in which there are pos- sibilities for- extra, increased or stock dividends, continued to receive the most attention. Publication of reports that the 3 1-2 per cent. semi-annual dividend on Great Northern preferred was like- 1y to be maintained brought about some good buying in the railroad group, bat early gains were materially reduced or wiped out in later trading. Speculative belief that Cerro De Pasco soon would be piaced on a dividend bas- ! is was reflected in & 2 1-4 point gain in that stock. Chile, another South Amer- jcan copper advanced 1 1-4 and Kenne- cott improved fractionally. Some disap- pointment was felt by the speculative community over the failure of the di- rectors of the Texas Company to take action today on a distribution of part of the company’s $83,000,000 surplus as a stock dividend. This disappointment | was reflected in a 1 1-2 point drop in the stock. Great Northern preferred led the ad- vance in rails, touching 80 1-2, where it represented a net gam of 2 3-8 poins. St. Paul issues improved fractionally on announcement that the mterstate com- merce commission had approved a gov- ernment loan of $10,000,000 to mee ob- ligations maturing January 1. Among the few issues which closed at net gains of a point or more were Canadian Pa- cific, Chicago and Northwestern and Pere Marquette. Fisher Body -was pushed up eight points to a new high record for the year and May Department Stores established a new peak price at 170, up six points. Heavy buying of Baldwin just befare the close sent that stock up to 125, up 2 points. United Fruit declared an extra dlyidend of $2 but the traditional “selling “on the good news” forced a re- cession of 1 3-4 points in that stock. United States Industrial Alcohol was strong on reports that Standard Oil in- terests had contracted for a large part of the output. Other conspicuous strong spots were Columbia Gas, General Amer- jcan Tank, National Lead and Pullman, all up more than 2 points on the day. Allied remittances, other than sterling, showed slight recesions. Dutch gufld- ers established a new high for the year at 40.03 cents and Norwegian kroner showed good recovery from yesterday's weakness. Call money opened at 4 1-4 per cent., eased off to 4 before noon and dropped to 3 3-4 in the late afternoon, holding at that figure until the close. Time money’ and commercial paper rates were un- changed Cent Leather ..... $4% Cent Leather pr ... 70 Cent of N J ......233 Chandler Motor Ches & Ohio . Ches & Ohio pr Chi Gt West Chi Gt West pr . Chi & E Il Chi M & St P Chi M & St P pr .. Chi & N'west ChiiRI&P . Chile Copper Chino Copper . Cuba Am Sugar . Cosden .. Crubible Steel Crucible Steel pr Del & Hudson 3¢ 69% 4% 695 Erie .. . Erie 1 pr . Erie 2 pr .. Fisher Fish Bdy (0) pr Gen Electric Gen El special Gen Motor ee Gen Mot pr ...... 84% Gen M Deb Tpec . Great North pr Great North Ore Hupp Motor . Illinois Cent Inspiration Cop Int Harvester Int Harves pr . Int Mer Mar Int Mer Mar pr Int Paper . Kennecott .. . Lehigh Valley Marlin Rock . Maxwell Mot B Mexican Petrol Miami_Cepper . MStP&SM Mo K & T pr . MoK &TwWi Missoyri Pacific Missouri Pacific Missouri Pac pr Nat Enam & St N Y Air Brake N Y Air Brake A . N Y Central NYNHE&H. Norfolk & West North Pacific Penn R R . Pierce Oil . Pierce Ol pr .... Ray Con Reading .. Repub 1 & Rey Sp .. South Railway South Ry pr ... South Pacific . Tenn Copper Tobacco Prod Tob Prod A Union Pac . U S Rubber . U S Rubber pr U S Steel .. U S Steel pr . West El pr.. West Pacific ‘West Un Tel ‘Westhouse Air B ..106 West'house El . st 105% 59% 40% 32 67% New York, Dec. 12—Trading in bonds on the New York stock exchange today ! %was comparatively dull’ but some good i gains were made in all sections of the list. United Kingdom 5 1-2's of 1929 were pushed up 1 1-4 points to a new high re- cord for the year in sympathy with the > marked strength of sterling exchange. Anton Jurgen 6s improved 2 points and gains of 1 to 1 1-2 were registered in the the forelgn group by Tokio bs, State of San Paulo 8's, Japanese 4's, and Seine 7's, Mexican 4's and 5s_and Serbian 8's were heavy, dropping 1 to 1 1-2 points. Sharp recovery of St. Paul issues on the announcement that the government had decided to refund the $10,000,000 in notes falling due January 1 featured the ral list. The Puget Sound division STOCKS. The following is a summary of the transactions on the New York Stock Ex- change up to 3 P. ML.: High. Low. 78 113 44 41% 40% Close 79 113 44 .32% 403 34% 74 32% 40% 5 | @26.0 y Am Cotton Oil Ame Tel & Tel . Am_ Tobacco Am Tob (B) Am Woolen .. Anaconda Cop AU Gt & W1 Atch T &S F Atch T & § F pr Bait & Ohio . Balt & Ohio pr . Beth Steel Beth Steel (B) Beth Steel cu pr Brook Rap T Brook Rap Tr etf .. Butte Cop & Z Butte & Sup California Pet Canadian Pao 17 13% 10% 31 . 56% 1443 4's advanced 2 points and gains of 1 to 1 1-2 were, scored by general 4’s, de- ‘benture 4's, convert] 4 1-2's, 4's of 1925, retupding 4's and.convertible 5's. |Ttlanta and Charleston Alr Line 4 1-2's, i ordinarily inactive, jumped 5 3-4 points; Texas and Pacific firsts, 2 3-3; Nerfolk and Western convertible 6's, 2 and ‘West Shore 4's, 1 1-3. Some weakness was noted in Minneapolis-St. Louis re- 7's, Western ‘ onds, Cerro De Pasco 8's agein provided the feature of the industrial group, jumping 7 points to & new high record. Cerro De Pasco stock has been active recently on speculative reports of an early resump- tion of dividends. Chile Copper 6's rose f GOOD CLOTH FOR THE WORKER ORE than 35,000 men and women are em- ployed by the American Woolen Company in its 59 mills. Théy look to us, to see that the conditions under which they labor are fair; that the pay they get is fair pay; that they shall be enabled to live clean, wholesome lives, to educate their children, and to advance the standards of their living. \ By making good woolen and worsted cloth and selling it at.a price which makes ‘its “per-dollar value” unsurpassed by any other similar fabrics, imported or domestic, the American Woolen Com- pany has been able-to give employment, to more and more people under better and better living and working conditions at wages which are fair to them, to the mills, and to the public. ! group were Distillers Securitiss five cer- tificates, up 3, and - Francisco Sugar 7 1-2’s, Bethlehem Steel refunding 5's, Cuba Cane 8's, and Fisk Rubber 7's all up 1 to 2 points. United States government bonds werc mixed, the sharpest fluctnation taking place in the first 4 1-¢’s, which dropped . 44 cents on $100 10 98.80.. Other changes ‘ranged from losses of six cents to gains of 12 cents. Total sales (par value) were $12,218,- 000. New bond offerings today exceeded $13,000,000, the largest being the $10,- 000,,000 issue of first mortgage sinking fund 7 per cent. Bonds of the Vertientes Sugar company, which were offered at 97 1-2 to yield about 7.25 per cent. In- vestment bankers report that there has been good absorption of recent new is- sues. . Liberty Bonds. High. Low. S Lib 318 ...100.34 100.24 S Lib 1st 4%s 92.20 93.80 S Lib 2d 4%s 98.56 98.50 U S Lib 3d 4%s 99.00 98.90 U S Lib 4th 4% 98.90 98.74 Victory 4%s ..100.42 100.38 do cafled 100.02 100.00 Treas 4%s 99.90 99.80 Quoted in dollars and cents per bond. ’ Close 100.32 98.80 98.50 98.90 98.84 100.40 100.00 99.80 $100 o Ly U METAL MARKET New York, Dec. 12.—Copper quiet, electrolytic spot and futures 14; tin easy, spot and nearby 37.00; futures 87.25; iron firm, No. 2, Southern, 24.00 lead steady, spot 7.10@7.35; zinc quiet, Bast St Louis spot and nearby delivery 7.20@7.30; antimony, spot 6.37@6.62. MONEY New York, Dec. 12.—Call money eas- %wier; high 4 1-4; low 3 3-4; ruling rate |4 1-4; closing bid 3 3-4; last loan 3 3- ceptances 3 3-4. offered at 4; ; call loans against ac- COTTON New York, Dec. 12.—Spot steady, middling 25.30. cotton CHICAGO GRAIN MAREKET. Chicago, Dec. 12.—Zero temperatures together with a scarcity of snow protec- tion for the winter crop did a good deal today to 1ift the value of wheat. All deliveries touched a new high price rec- ord for the season, closing firm, 7-8 to 2:1-8 cents net higher, May $1.21 1-4 to $1.21 3-8 and July $1.12 1-4 to $1.12 1-2. Corn gained 1-8 to 5-8¢ and oats finish- ed at 1 1-8 cents decline to 3-4c ad- vance, and provisions varying from a setback of 12 cents to a rise of 7 cents. Despite much profit-taking on the part of holders and notwithstanding that the Liverpool market failed to respond fully to yesterday's advance in prices on this side of the Atlantic, wheat bulls here acting on crop damage possibili- ties had the advantage throughout the day except during a few brief atervals. Incidentally, strength of sterling ex- change more than offset the apparent slowness of upturns in Liverpool wheat quotations, and there was c ontinued eager watch here of reports touching proposed enactment of credit extension measures at Washington. It was a subject of considerable com: ment that the Liverpool-Chicago May wheat spread has widened about two cents in the last few days owing more or lees to the sharp rise of sterling—a jump of ‘17 points as compared with a month ago and of 50 points as agaimst this time last year. On the other hand, en- thusiasm of buyers here was somewhat chacked as a result of weakness in Ar- gentine proces and on account of uncer- tainties affecting the financial situation in. Europe. Corn and oats averaged higher swith wheat. December oats, however, were depressed by liquidation sales on the part of holders. Déwnturns in the value of hogs had a bearish influence on provisions. Chicage Graln Market. High. Low. Close. . 123 121% 122% . 121% 120 121% 112% 110% 1124 2% 72% Ty 1% 0% 1% 445 453 44% 5% 4 1% Wheat— Corn—~ 73 71% 1Y% 45% 45% 1% ‘The local Red Cross roll call has been completed with such evident success that July Oats— May July of sokicitors for publication, thanks them for the efficient canvas. ‘Those from Jewett City were. Ruth Miner, Bessie Thompson, Agnes Frank- lin, Edwardina Boucher, Christine Bur- dick,”Edith Howe, Nora Driscoll, Anna Falvey, Verma Tarbox, Irene Stewart, 143% | 2 points. Other strong spots . in that Mrs. H. E. Paul, Martha Davis, Edward | Thornton, Albert Frankln, John Harris, 'N. B. Parkhurst, Gilbert Miner, {§homas Barnett, Dr. G. H. Jennings, Allen Sweet, Edna Sharkey, Flora Littlefield, Anna Littlefield, Evelyn Johnson, Ruth Cregan, Mrs. Austin Harris, Mra. Mary A. Howes. For Glasgo—Edmond LeCroix. For Lisbon—Miss Helen -Hull For Hopeville—Miss Jessie Anderson. For Boardman—Mrs. John Potter, For Pachaug—Mrs. W. B. Montgomery. For Newent—Mrs. W. J. Reynolds. For Voluntown—Miss Bertha Mrs. E. E. Clarke. 5 Brewster district, Miss Esther Frink Bethel, Burton and Ristown district, Mrs. Benj. Young; White district, Mrs. Albert Reynolds; Woodward district, Mrs. E. A. Geer; Johnson, Tyler and Stone Hill districts, Miss Ethel Roode. Mrs. Mariett Tinker and. grandson, Charles Saunders, Mr. and Mrs. Harry Howes and Mr. and Mrs. Joseph Whar- ton will be in Norwich this (Wednesday) evening to attend the marriage of Mrs. Tinker’s grand daughter, Miss Marietta Boyens and Robert A. Gray, both of Norwich. The Pachaug Ladies’ Aid will meet with Mrs. ‘Andrew Chesbro Thursday “for an all day meeting. The copy of o letter from Liverpeel, dated Nov. 10th, was received by a Jew- - Money for the Holidays We Make Loans on Furni- Legal Rates — Easy Payments YOU can borrow $300.00 or less on Furniture, Pianos, Victrolas, or any other form of good security, with- out removal, from 8 to 15 months or longer to-repay, if desired. In-' terest ‘reduces monthly as pay- iments on principal are made. If in need of financial® service, write or phone us without delay, as we can serve yoJd. 2 CALL; WRITE OR PHONE 1664 NEW MARSH BUILDING _ .. _ROOM 32.3 ~ =~ " "~ NEW LONDON; CONN. ' A \“that GiF¢ po ett City man Tuesday, from which the foilowing clipping is taken: When the Cunard liner Scynthia was about 400 miles from the American coast “geveral thousand birds” came aboard. Apparently there were among them gold- finches, purple finches, juncos, hermit thrushes, robins, and sandpipers, with threg owls and two carrier pigeons. A number of the birds died from exhaus- tion. Some made themseives at home in the ship's garden lounges, among. the shrubbery, were fed by passengers and became ‘very tame; some were still aboard when the ship reached Liver- pool. No one one knows how many migrating birds are blown out into the wide At- lantic to perish. Send this /advertisement to The Plaut<Cadden Co., Norwich, Conn, with your nzme and address and get a2 bouk of old fashioned songs free.—adv. Postmaster D. F. Finn received the fol- lowing instruction Monday relative to all future mail that may originate in the Jewett City post office, intended for points in Greece. The postal administration of Greece reports that a considerable number of registered letters are received from the United States bearing, side of the envelope, superfious glue or mucilage, making it bard to determine whether the sealing matter was placed on | the article when originally sealed by the sender or whether the article had been rifled and resealed after mailing. Postmasters are instructed to decline for registration letters for any desti- nation which are sealed in such a man- ner as to indicate that possibly the letters were opened and resealed after original sealing by the mailer. Money and copper and bronze foreign Tinding bW, Cicago. and Norfiwsstern the chatrman, Mios Lia T Foster, repatts’ Ci2 are zot admissiblo to the malls for Pacific ‘5's, Seaboard AIr $550.95 received., Miss Foster also in; !Line consolidated &'s and Wabash sec- giving the names of her competent corps i Olin F. Miller, N. Y., N. H. and H sta- tion agent at Jewett City in the west on a pleasure trip is registered at St. Louis. The December meecting of the Baptist Ladies’ Missionary society was held with Mrs. Charles F. Gardner Tuesday after- noon. The program was in charge of Mrs. Daniel L. Phillips, the subject be- ing, Religion in India. The following papers of interest were much appreciat- ed: Handicaps'to India’s Progress, Prob- iems the Missionaries Have to Face, Great Indla Leaders and What They Have -Done, and Facts of the India Mis- sionary Soclety. -Many hopeful signs in Christian progress’ were pointed out. A special hymn by an Indian composer, was sung. It was Oh Thou My Soul Forget No More. * Once again the Soule street police sta- tion 1s the store house for a considerable quantity of local “home made”, where it {is safely locked in ome of the cells. The two raids were made Saturday by the state police from the Danielson barracks and Deputy Sheriff John T. Doldn of Jewett City. At 45 Dey street, John Skoneski was found to have a stock of moonshine in bottles which was staken. In the town court Monday, he was fined by Judge-A. M. Brown $150 and- costs which he paid. The liquor ‘was destroyed. i ‘The same officers visited “Steve” Maisk John D. Rockefeller, Jr. Son of the Standard Ofl mag- Date, Teputed to be the richest man ack fi\o L tt handy cket and purse -~ of Tift street an d to get a truck transport their seizure to the station. They found a barrel, (e several jugs, cases and taining beer and wine, 100 gallons. He was fined costs and wili appeal. Offi has posted the legal noue when ownership of the 1 claimed. If no one Zpp claim the liquor will be e L a littl alleys Tuesday eveninz. The Lucky Strikes. Eichelberg .. 109 G % 92 Maynard 18 | Sweet 52 512 I Gilbert . Koss . Jiort Gavois { LaChapelle .. . on the reverse | i | The first In & s meetings under the aus grag was heid Tt Geange hall with present, and a pleasing given. Jcbn E. T dent and Miss Margaret T; and treasurer. A committee | for the iman C The siio on the farm known as the Al- { bert Green farm was blown over during | the gale of last Wednesday. Edwin S. Gallup Charles Gardner in ng his hay i the Davis farm in Plainf:id (o the farm n Sterling where he now lives. Benjamin Galius and Henry Congdon of South Voluntown were callers at E. B. Gallup's Friday. A pleasing entertainment was [ by “the puvile of Ster. Hill /sch Friday afternoon. It parents and friends. Supervisor Sarah Palmer was present. A large number of Christmas seals have arrived and the school children are selling them. Mrs. \ aii o~ an? fpmily visited recent- 1y in Centerville, R, L Mrs. Georse o an and family had dinner with Olin Potter and family of Moosup Thanksgiving. 3 Mr. and Mrs. Joseph Gallup visited Mrs. Gallup’s sister, Mrs. Colvin, of Moo- sup recemtly. Edward Freeman is making repairs on the parsonage on Sterling Hill. assisting given Sensible wives devote their spare time to mending their husbanis garments rather than to nagzing at them to mend their ways. HUDSON AND e —— GIRL “BUDDI WORKING THROUGH THE RED CROSS Chicago, the Ame Dec. 12.—Girl “buddies” of can doubhboy in France—can- hut workers, Salva- vy 1 znd others—are to their work for former service Red Cross, declares national chalrman of reezs Service Le:gue. of the orzanization | disablcd soldier | endered the a.cording to Miss IIoyt. as women of tried patri- 1id Miss Hoyt, “that we have to offer the former service s=ible by other workers. We e! knowledge of him, a memories, and undying and his sense of our > league also is working with the on of the war department, oyt, pointing out that last plied 45 volunteer hostess- whol2some outings, for the products of oc- v and shopping as well field workers in follow-up in families of disabled former ser- ‘doctors, nurses, motor drivers, ctc., which will be at the 11 of the Red Cross in every emergen- e MORE STOCK DIVIDENDS BY NE# BEDFORD MILLS New Bedford, Mass, Dec. 12.—Direc- tors of the Acushnet mill today recom- mended_a stock dividend of 33 1-3 per cent to increase the capitalization from $1,500,000 to $2,000,000. Directors of the Hathaway Manufactiring company roposed a stock dividen. of 25 per cent., increasing the capital from $1,600,000 to $2,000,000. The two corporations are un- der the same management and manufac- ture fine cotton goods. During the last two weeks mill corp- orations here have recommended stock dividends amounting in the aggregate t¢ $6,600,000 and have declared extra cash dividends totalling $460.000, making 2 grand total of dividenas for the year of $12,407,492 on a capitalization of $55.-, 781,600, or an average of slightly more” than 22 per cent Terryville—Miss Elizabeth Carey of Cheshire has been enzased as teacher of science at the high school to fill the va- cancy caused by the illness of Miss ‘White. ESSEX MOTOR CAR COMPANY Again Leads in Reducing Prices on High’ Grade Cars Frer ™2 to Two Hundred Dollars. Prices Are As Follows, Delivered in Hudson 7 Passenger Sedan ... $2250) 'Hugdson 5 Passenger Coach ... $1650.00 Hudson 7 Passenger Touring . $1600.00 Hudson 4 Passenger Speedster $1550.00 Essex 3 Passer:.ger Coach . Essex Cabriolet .......... Essex Touring Car ... 5125000 . $1259.00 ... $1145.00 | A B_ufletin For Sale Adv:rtiszsment Will Sell It AUCTION e —— e e— AUCTION NOTICE We have just recelved from a mam- moth storage warehous- a large ind valuable consignr o merchandise to be sold at pudlic auction ON SATURDAY AFTERNOON AND EVENING OF THIS WEEK, &t 1.30 snd 7.30 o'clock respectively. . This lot consiss of Ladied Wear- ‘ng Apparel of all kinds Fancy Crock- ry, Glassware, Silverware Jewelry. utlery, Ivory, etc, includ'ng & grest ~umber of unique and tasty piec-s. Here's 3n_exceptional opportunity s rurchase Christmas articley at your ~vn price. No reservations, no re- ictions, poeitively a high dollar sale om start to finish. Th-se zoods will on exhibition Wednesday of this ~k and each day thereafter. WITTER'S AUCTION ROOMS, NO. 42 MAIN ST, DANIELSON, CONN. e e e .+ e e PAWNBROKER RELIABLL. LOAN CO. LICENSED PAWNBROKER 57 Franklin Strest Norwich We Buy and Sell New and Second Hand Articles. PAINT AND WALLPAPER FOR SALE—Paint $1.75 per gal reg. vlar 3250 grade: wallpaper. 10¢ per rol- Max Blazer 183 West Ma'n St next o Fir. Stator myld TRANSPORTWTION NORWICH-WESTERLY 'BU#. LINE, NICK MOONEY. Prop. Tel Wester) 2467. Leave Westerly 8 and 11 &. m., 2 4ad § o. Stonington $.20 and 20 p. m. Leave Norwich 2. m.. 12.30, 3. 6. tonington 10.15 a. m. Fares: Norwich wich-North Stoningtion, 45¢ e e e, FLORIDA Through Sleeping Car Service 1] To all points on East and West : Coast—also |} Southern Pines and Pinehurst, i N. C., Camden, S. C., Savannah | and Brunswick, Ga. : ALL YEAR TRAINS Mid South Special Florida Cuba Speciat Seabeard Fast Mail Famous Seaboard Florida Limited All Pullman, Train De Luxe, Resumes Service January 1st, 1933 i Unsurpassed Use Seaboard Travel Service THE COLONIAL EXPRESS, com- n:encing Jan. 1st, will carry thru ieper dally from Boston to St. Jetersbu-g, i 1a., making East Coast onnecticns at Jacksonville. Virite or call for authentic infor- nation, reservations; also booklet — Wintering in the South.” S. B. Murdock, G. E. P. A. SEABOARD AIR LINE RAILWAY 142 W. 42nd Street, New York (RS e e ey NEW YORK VIA ° NEW LONDON LINE FARE $3.3. 70 Leave new London Dally (Except Sunduy) 11 P. M. Due N. Y. Pier 40, N. R, 7T A. M Reduced rates on automobiles whe- accompanied by passenger. England Steam: S ECOKBINDING JO6EPH BRADFORD 108 Broaaway i Slank Booxs mase c.uc nuiss to Order —_———— COAL AND WoOB FOR SALE—Scasoned hard wood siaba. Lebanon. Comfortable Staterooms Ready for Uccupancy st 7:30 P M Frederics Lewie. Tel 31-5 dectd FOR >ALE — Seasoned hard wood in ‘h:i:dld:n-uu. J. Siegel © Phome 1vi6-5. FOR - .LE—Best dry hard woou, vas- ke 0. Soius: lowest prices Phone 342 COAL AND SEASONED WOOD and kind.ings in .arge or small quantities. Phone 504 or 1325-2. R Shapiro, Willow . St., formerly Nuckee Lane octlld T I LECAL NOTICES, .TO THE HONOEABLE GENEEAL AS. i Scwb.y of the Siaie of Counecticut to be held ai mardora on the first Weduesday foliow. ! day oL Junuary. 1925 The unuers.gned, incorpoiators of The Basiern Lonuect.cat siulvay Co1 A