The Bridgeport Telegram from Bridgeport, Connecticut • Page 24

TWENTY-FOUR THE BRIDGEPORT TELEGRAM, THURSDAY, DECEMBER 1, 1927 Twenty Leading Industrials Reach New High for All Time in Stock Trading Buying Embraces Many Issues As Stock Market Prices Climb Accumulation of Orders So Great That Ticker Falls 20 Minutes Behind Schedule General Motors Shows Sudden Advance. OF TOUCH NEW Improved Industrial Employment Conditions Are Now Anticipated NEW YOHK. Nov. 30-- (By Assoclnt- ed Prrssl Speculation for the advance was resumed i conskUnablc violence In today's t-took a Buying embraced nn unusually vide of Issues, nearly two of HU nttnhied roi-ord hlfiU puces, on pains a run ns httth tus 10 points. The average of 20 lending i ccr.n- plled by the associated Press also reached new high level for all lime.

So great was the accumulation of orders that the ticker fell 20 minutes be- Jilnd the market shortly uftev midday, end never cauKht up. the clay's tot.il sales running Jvist over 2 930.000 shares. The edvtuice not nssooliUed with anything in day's news, although, the lowering of the evil money resiew- iil rate from 4 1-2 4 per cent, the Btlffcr.niK of export copper prices and the predicted increase in steel mlil operations by the tnule journals Had ft favoiable effect on sentiment. Commission vepovted a large Increase In public participation particularly in odd lots. Qcneinl Motors, had.

been sluggish for about fortiiiccht on Bell- Ins; for both presumably tn- pplred ly fears of Ford competition, suddenly leaped into the llmelltcht by rallying from a low of 125 3-4 to 130 1-2. closing at 3-4 for a net gain of 3 1-4 on the day. Dupont, which rellfc ox-dividend $6 57 tomorrow and has large General Motors holdings, advanced nearly 8 points to 326 5-8. Peerless advanced 3 points and Jordan a despite the denial of the head of the Continental Motors company of I i a i i i i a the of sonic of Our basic i i and those dircctlv or indirectly dependent upon arc contained in our montliK "Situation" lor December. A of sikctcii in Ui--tnc is aKo i a i Write for a copy of thii bulletin.

Hemphill, Noyes CCa reports that a merger of the tlnee concerns was under negotiation. Montgomery-Ward, which has been heavily bought by Interests associates i Arthur Cuttcn, Chicago operator, soured nearly 10 points to a new high record of lil 3-4, as compared with the year's low of 60 3-4. Seni'b Roebuck advanced 3 1-2 points to a new top at 86 7-8. Radio corporation, nearly 15.000 shares of which changed hands, crossed par for the first time In history. Other Issues to better their previous top prices Included Abttlbl Power, A Sales, Bloomlngdale Cevro De Pnseo.

Corn Products, Eureka Vacuum, Goodrich Rubber, Marlln Rockwell. National Biscuit, Pacific Coast, Peoples Gits. Reid Ice Cveam. Stewart-Warner, Victor Talking Machine Warren Brothers. American Machine and Foundry soared 19 points to 220, the common advanced 1 1-2 to 172, and American Radiator.

Collins and A i Commercial Solvents. Continental Insurance, Pullman (old! and Tlmken Roller Bearlnc; advanced 5 points or more. Pan American Petroleum and American Republics were conspicuously heavy. A Jump of nearly 10 points In Canadian Pacific to new peak at 208 featured the rail list. Strength of Fere Marquette and Wabash was based on expectations of increased earnings through large Ford business.

There was no change In time money and commercial paper rates. Leading commodity markets moved within narrow and irregular limits, cotton advancing slightly while grain futures lost ground Coffee and sugar quotations were practically unchanged A drop of 16 points In Spanish pesetas to 1644 cents was the only change of consequence In the irregular foreign rxchai.ge market. Demand sterling was slightly easier at $4.87 3-8. REALTY RECORDS York Stoc City Savings Bank Bridgeport Telephone Barnum 7978 Tnrk. rh.lndrlpula.

r.Mt PitMmrsh. Albanj-, BaltimiTc, Scraaton Warranty Deeds. Lorenzo Di Battista to William C. Luthy. realty on Wheeler avenue.

Agnes Krushewski to Katie Stech. realty at Woodlawn avenue and Bolk street. Morris Bchnee to Joseph Marchlo, fealty on Read street. George F. Wheeler to Slgrld P.

Carl- Kon. realty at Hawley avenue and Llnd- ley street. Michael Robstock to et al, I'etUty on Pembroke etreet. Warner Brothers company to Warner Brothers Realty company, realty on Lafayette street. Mortgage Deeds.

James C. Jorgenson, et ux. to Jeanette Anderson, realty on cKeler avenue. $2 000. Joseph Cilena to the Italian Credit realty on Holly street, $1,500.

Anthony Papalla to the Mechanics' and Farmers' bank, realty on Beech- uiont avenue. $5,500. Morris Smith, et ux. to the Columbus Finance corporation, realty or Connecticut and Union avenues, $1,000. Quit t'lnlm lleeds.

John Roman to John Vincent Troll to Mary Troll. The Bridgeport Land and Title company to Grace R. Pratt. The Bridgeport Trust company to Ella B. French.

Some of Gains Cancelled by Late Selling, However; Curb Seats Advance. NEW YORK. Nov. Associated Press) Violent fluctuations In high priced Industrials featured the Irregularity higher movement of prices in today's curb market. More than a score Issues reached record high levels, although some of the gains were cancelled In late wave of proflttaklng.

Seats on the curb market advanced $6,000 today to $65.000. new high record and more than double the year's low. Ford Motors of Canada opened 16 points higher at a new high of 725. broke to 8'JO and rallied to 602. Tu- blze Art Silk advanced nearly 20 points to new peak at 499.

but slumped on rumors of another stock dividend next mouth, climbing nearly 7 points to a new peak at 132 3-8. New peak prices for the year, or longer, also were registered by AUIMJ.I Drxig, Amoskeag, American Solvents Chemical, Atlas Plywood preferred. Brazilian Traction, Hellmaji, Warrants, International Cigar Machinery, International Utilities Maryland Casual ty. Midland Steel common. Standard Sanitary Manufacturing, United Electric, U.

S. Freight, and a few others. Substantial gains were recorded by the Celanese Issues, Firestone Tire, Pittsburgh and Lake Erie Railroad and Pittsburgh Plate Glass. Most of the oils were reactionary on selling Inspired by reports on increasing crude production, but International Petroleum advanced nearly a point to within a fraction of the year's high. CONNECTICUT PATENTS EMPLOvMerrr CortoiTions WCSTCRM STATES IMfaST COMDITlOrt ED) FAIR CONDITION LAIOR SURPLUS Canmat AuKuns, STOCK AVERAGES Mutual system Xoans are made Tried people keeping house aiid to gle r-prsons tiring at imc irwre aro no other requi rumen's ex-ppt thp TP of a regular salary and household tfnmitnre A friendly, helpful and safe (tlace to borrow All Confidential Fair and Reasonable NO RED TAPE BY THE ASSOCIATED PROS Bond Market Wed.

Tuea. Ton first grade rails 98.73 98.88 Ten secondary rails 99.65 99 66 Ten public utilities 87.56 97.40 industrials 101.92 102.06 Combined average 89.47 99.50 Combined month ago 98.78 Combined year ago 9S.94 Total bond sales (par value i $13,028,000. Ttoese tilings corrblnfd with our courtesy cons, deration us- TCUT sa'irfflr-tor Tel. Bar. 6888 THE MUTUAL SYSTEM 100 BANK STREET Boon 9 A.

M. to 5 MOP- till 8 P. fill 1 P.M. Market Averages 20 Indus. 20 Rails.

Wednesday i 18224 (xxj 14720 Tuesday 181.86 146.53 Week ago 18121 147.55 Year ago 144.89 122,90 High. 1927 182.24 15295 Low, 1927 141 23 125 58 Total stock sales 2,952,400 shares. I Ex-ex-divldend .0875. Ex-dividend .20. A Fixed Investment in America's Prosperity the long rue no man rvrr kxt dottjtr wfeo pot Ut faith in Amenca.

Constant increase in popolabcm. cocplcd with industrial genius of the American people, has nxiltcd steady growth of wealth which exproaon in a continuous upward trend in common atodt valocs. FIXED TRUST SHARES rvpraent ownership in thirty buc American uKnntrics cotnti- rtiong practically a croe-Kcb'an industrial activity the nation in wealth and prosperity these onditions cannot fail to be reflected in FIXED TRUST SHARES For the benefit of interested investors issued a comprehensive bookltt describing leaiur-. of FIXED TRUST SHARES in je- tafl. including the RKTVC fond for uing A copy youn foe the nktog.

HINCKS BROS. CO. Bridgeport The following were Issued November 29, 1U27. List compiled at the offices ot Wooster Davis, patent lawyers, Bridgeport. Arthur J.

Lewis, Stratford, assignor to the Balrd Machine company, Bridgeport, metal cutting or working device. Monroe Guett, assignor to Hart Hegeman Manufacturing company, Hartford, flush wall switch. Monroe Guett, assignor to Hart Hegeman Manufacturing company, Hartford, electrical connector device. Charles H. Baker, New Haven, toy telephone.

William L. Bean, West Haven, locomotive-smoke-box structure. Charles M. Brennan, New Haven, bottle decarper. Clarence A.

Pierce, assignor to the New England Paper Box company. New Haven, candy or like box (design). Uno L. Sundblacl, assignor one-hall to C. W.

Wells, New Haven, electrically-wound timepiece. Richard H. Whitehead, assignor to the New Haven Clock company, New Haven, clock case (design). Edward B. Allen, Newtown, assignor to the Singer Manufacturing company, Elizabeth, N.

work-clamping mechanism for sewing machines. Howard M. Barber, Stonlngton, assignor to C. B. Cottrell Sons company.

New York. N. temperature cutting sheets from webs. Howard M. Barber, Stonlngton, assignor to C.

B. Cottrell Sons company, New York, N. driving mechanism for web feeding and cutting machines. Luis De Florez, Pomfret. assignor by mesne assignments, to the Texas company.

New York, N. method and apparatus for the control of temperature. Luis De Florez, Pomfret, assignor, by n-coiie assignments, to the Texas company, New York temperature control. Luis De Florez, Pomfret, assignor, by mesne assignments, to the Texas company. New York system, of regulation.

Charles N. Ellrlch, assignor to the Peck stow Wllcox company, Southington, chuck. Frederick A. Hart, New Britain, lamp. George J.

Talbot, assignor to the Buol Machine company, New Britain, automatic sash fastener. George A. E. Jones, assignor one- third to A. B.

Hart, and one-third to H. H. Starr, New London, automatic- feed rivet heater. Charles R. McClellan.

East Lyme, and O. L. Seward, Merlden, automobile service Indicator. Thomas H. McGowan, Jewett City, assignor to Draper Corporation, Hopedale, feeler mechanism Waldo Sheldon, Greenwich, well drilling.

Jesse A. B. Smith. Stamford, assignor to Underwood Typewriter company, New York, N. typewriting machine.

Jules A. Smith, Pine Orchard, ash tray (design). Arthur A. Trombley, Plainville, tire spreader. Trade-Marks.

The Bridgewood Wood Finishing company, New Milford, assignor to E. 1. du Pont De Nemours and company, Wilmington, primers and white lead (renewed). Cheney Brothers, South Manchester. woven, knitted, netted, textile, and pile fabrics.

The Hartford Battery Manufacturing company, Milldale, combination battery and trickle charger. Stanley Rule Level company slgnor to the Stanley Works, New Britain, Iron tool handles (renewed). Weather conditions hove been somewhat more favorable than usual this Fall Tor the late continuance of outdoor activities, especially in the build- Ing trades. Hence outdoor employment has been maintained ut an excellent rate up to the present time. In many parts of the country, recently, construction operatlonsof various kinds have been stimulated as a result of efforts to complete projects oeforo the advent of real Winter weather.

In agricultural sections employment has also held up well during the recent weeks while in industrial localities fully as many workers are employed now as were being kept busy a month ago. It seems likely that manufacturing employment conditions will Improve somewhat during the weeks Just ahead. There has been no In employment in the textile and meat packing industries. In the Iron and steel and automotive Industries employment has not improved but betterment Is expected since It is stated.that the time Is close at hand when the automobile Industry, which is a heavy purchaser of steel, will be operating on a very active basis. As the accompanying map reveals, current employment conditions are perhaps best in the agricultural states of the western section of the country nnd In the New England states.

Bank and Insurance Stock Quotations (Furnished by Bankers Capital.) Am. Kxi'h. I-r. Tr. Ci 410 limik of America (V.T.C.) 385 Knnlc of Manhattan I'ouipany 570 Hunk of X.

Y. mid Tr. Co 71.1 Hank ot Vnitcil Suit's 580 Itimkprs 'I'miit roinpnnv 948 Security Knut Co. Common W. 1 227 Units W.

1 Hirer Ilk. Brooklyn Trust Company Ctutral Union National ttnnk Nat. Ft. null Tr. I hemlfal 'Htlonnl Bank Cf lonial r.nnk Coin Kvrlinnse Hunk Kmpirc Trust Co RUlitlaltle Trust t'o.

I'arniers T.oun and Trnftt t'o. riflji Avenue Bank First Tstitional Bank KarflolA National Bank Trust Co i Bnnfc llarriman National Bank Kings County Trupt Co. Manufacturers Trust Co XiUlonnl P.tmk of Commerce Nntloiuil City Bank NiiU'iliiU t'ark Bank NIMV York Trust Co Senboard National Bann Title Guarantee nud Trust t'. S. Murt.

and Trust Co. Insurance Stocks 10MI Kill) .170 W7 845 11(10 400 6HO 22M) 3720 480 P72 4 28,1 S20 J400 77D r70 72S (iSO (1.S2 S20 415 t.80 730 r.iMi DOS 1SSU laoo (US 4SS 411 SSSO 3770 810 578 1310 5500 785 575 7 3 it 640 001) 810 On December 12 creditors of Axel L. Sundberg, building inspector of Stam- 'ord, will meet to pass' upon a unique offer of composition made by him yesterday. He has liabilities of $21,344.25 and assets of $16,100. He offers 75 per ent cosh to labor and material claim Holders who have Hot signed waivers of priority liens.

To those that have Igned be offers 6 per cent cash and to the general creditors, of whom there me 22 with claims of $4,533.31, he of- ers 25 per cent In cash. Aetna Tirfl Aetna Ufe general Life Contlneutal l'ideltt -Phoenix lens Falls (itohc and TtutKCrH (Jreflt American 085 700 170(1 235 ior on 1SOO 440 HiuioVer -'SO ITnitConl rirc 770 Himio 885 lnMiiant.1! Co. of Jlortk America 84 Niagara 380 1 iork Uainalty K'i I 1'nferred Accident I Tiaielom 1180 Sm. i --t S. C.i»ua»y BBO i estchesier 7- Other Financial Institutions 300 790 602 CONTRACTOR MAKES COMPOSITION OFFER I Wall Street News Notes NEW YORK, Nov.

(By Associated Press.) Aggregate net operating Income of the first sixty-five railroads to report October earnings amounted to $106,326,000. a decrease of 8.2 per cent under the $118,814,000 reported by the same number in October last year. Their net for September was $107,803.000. October gross revenues were $469,008,000 a decline of 4.9 per cent. Pittsburgh dispatches to Wall street say plans are under way In that city for the consolidation of about 20 to 30 bituminous coal companies, exclusive of the Pittsburgh Coal company and the Pittsburgh Terminal Coal corporation.

Should the merger go through, It Is said, the new company would rival the size of the Pittsburgh Coal Co. But plans are still in an Indefinite stage. Estimates of Sears, Roebuck sales for 1927 go beyond $290,000,000, which would be a new high record. The best year heretofore was 1928 when sales were $272,699,314. merger with Bordcn company.

"Kraft Cheese is not considering a merger with any company. Our own program of expansion Is such that we will be able to continue to Increase our sales volume without any such combination." he added. A reduction by steamship lines la gold shipping rates from New York to London to three shillings per $100 on shipments exceeding $1,000.000, brought the profitable point for such transactions slightly nearer today. The gold export point in sterling exchange rates Is figured at $4.88 3-4 and sterling quotation by cable In New York was $4.87 7-8, a margin of 7-8 of a cent from the gold-shipping point. IIVRNE ENDS TERM HARTFORD.

Nov. P. Byrne of Putnum, this morning began his last day as state bank commissioner. His resignation from thin post, which he has filled since September 7, 1922, becomes effective tomorrow whe-n he takes up the duties of first vice president of the Hartford Conn. Trust Co.

Stockholders of the American Equitable Assurance company of New York will vote on a proposed Increase In common stock from 40,000 to 100.000 shares on December 9. The executive rind finance committee also has recommended a 40 per cent extra cash dividend and a 150 per cent stock dividend. The Industrial alcohol Industry welcomes the regulation planned by the prohibition department In Its control and production, which Is a logical development In the industry, says H. I. Peffer.

president of American Solvents Chemlcnl corporation. "This action is necessary for the conservation of Industrial alcohol for legitimate uses In the manufacture of many essential products." Net Income of Atlantic Gulf West Indies steamship lines for the first nine months of 1927, declined to $165,826, equal to $1.21 a share on the 5 per cent preferred, from $313,428 or $2.28 a share on the preferred In the corresponding 1926 period. J. TJ. Kraft, president of Kraft Cheese company, denied reports of a pending Liberty Bonds NEW YORK.

Nov. Aseoclat- ed Press): Liberty 3 1 -2s 26: 102 5 .2 .3 Do First 4 l-4s 24: 103.13 .10 .13 4 1-4H 29; 100.29 .28. Do 4th 4 l-4s 252 104.1 JU4. Iveasury 4 1-41 i38 115.18 .4 .13. Treasury 226 110.18 A .13.

Treasury 4 4-4s 53: 107.18 .16. Treasury 3 3-8s 300 102.20 .9 .18. HONEY NEW YORK. Nov. Associated Press) Call money: Easier; all closing bid time loans: steady: mixed collateral 80-90 days 5--4 1-8; 4-6 months 6 1-4; prime mercantile paper 3 3-4 Capital Company First National Bank Building N.W Hartford Mew York in Bank, Triut, Title and I (intranet Sjgcfcf We offer Title Guaranty Trust Bankers Security Trust Bank of New York Trust Bankers Financial Trust Bridgeport Telephone--Noble 6810-6811 Amci-ioiui Surety Banteus Cap.

Corp. Fid 105 Bankets Cupo. Corp. Cora. 160 Btmkers Vinanclal Trnst 75 Btnd and MortRnjre Uuar 405 Kastcrn Bkis.

Pld. Units East Blcrs. Comm. (Par S10.) 21 Lawyers Mortgage Sll Lawyers Title and" Guaranty 320 Mortgage Bond 160 y. Title and Mortgage so 421) 317 330 170 53 METALS NEW YORK.

Nov. Associated Press) Copper firm, electrolytic spot and. futures 13 7-8. Tin easier, spot and nearby 58.76; January 58.62. Iron steady and unchanged.

Lead firm, New York, spot, 6.40; East St Louis spot 6.27. Zinc easier. East St. Louis spot and futures 5.85-5.90. Antimony, spot, 10.75-10.87.

RUBBER NEW YORK, Nov. Associated Press) Rubber closed easy; Dec. 30.80; March 40.90; May 41.10. fa zfl2zODe TREAStnT BALANCE B. Y.

PRODUCE WASHINGTON, Nov. dally statement of the U. S. Treasury shows: Balance general fund today 682.67 NEW YORK, Nov. Associated Press) Eggs steadier, receipts 14,559.

Nearby hennery whites, closely selected extras, 55 a 56; nearby and nearby western hennery whites, firsts to average extras, 48 a 54; Pacific Coast whites, extras, freight 53 a 34; firsts to extra firsts, 50 a 51; pullets 38 a 40 Butter steady; receipts 6,217. Potatoes dull; receipts 32 cars. Long Island, bulk, per 180 Green Mountain, 4.00 a 4.15; Maine, 3.50 a 3.5. COTON NEW YORK. Nov.

30 (By Associat- pel Pir-s',) Cotton futures closed steady, i 11 to 22 higher. Dec. 19 1) to 19 12; Jan. 19.10 to 1 0 1 1 Jiarch 19.30 to 19.32; Mm 19 50 to July 19.54. Spot steady middling 19.50.

For Holiday Season $25 to $300 On jour own signature and household furniture. OUR STSTEM Money at once. cniruirrassmeiit. smail cost, ca.sj- monthly payments. fidelity Loan Corp.

77 Middle cor John Bar. 1130 1st Floor NEW ISSUE 5 The Connecticut Light and Power Company Five and one-half Per Cent Cumulative Preferred Stock Par Value $100 per share December quarterly Preferred as to dividends, and in liquidation entitled to par and accrued diridenda involuntary, and to 120 and accrued dividends if voluntary, before any payment if made upon any other class of stock of the Company. Redeemable as a whole or in part at 112 per share and accrued dividends. The dividends on this slock are exempt from the present Normal Federal Income and Connecticut State Taxes. Transfer Agent HARTFORD-CONNECTICUT TRUST HARTFORD Registrar COLONIAL TRUST WATERBURY Mr.

J. Henry Roraback, President of the Company, has summarized as follows his letter to ut describing this slock: CAPITALIZATION (Upon completion of the present financing) Funded Debt Capital Stock: Preferred Cumulative $6,500,000 Preferred 2 Cumulative 6,500,000 Preferred Cumulative 4,500,000 Preferred Cumulative 4.000,000 21,150,000 $43,350,000 All owned by The Connecticut Electric Service Company. dcr construction at New Miltord, a 31,000 h.p. hydro-electric generating station which is expected to be completed in the summer of 1928. This development includes the construction of a.

large reservoir on the Rocky River west of New Milford, which will provide an additional source of power for the Company. PROPERTY INTESTME.NT: The investment in owned properties is and in leased properties 166, making a total present investment of PrRPOSE OF ISSLF: The present issue of $6,500,000 Cumulative Preferred Stock will provide part of the funds for the construction program outlined above, and for other additions and extensions. EARNINGS: Without reflecting any direct benefit from over $6,750,000 already invested in as yet non-operating developments, and from over $4,000,000 of cash available for construction, the balance for dividends and surplus for the year ended September 30, 1927 amounted to $2,394,423.78, or more than 1.69 times the dividend requirement on the outstanding Cumulative Preferred Stock, including this issue. MANAGEMENT: The Connecticut Light and Power Company and the Connecticut Electric Service System are under the direction of men of long and successful experience in the operation ot important public utility properties. i This issue of Cumulative Preferred Stock is ottered subject to sale when, and if issued and received by us, fubject to the approval or Messrs.

Ropes, Cray, Hoyden 0 Perkins, Counsel for the Bankers, and Messrs. Day, Berry and Reynolds, Counsel for the Company. Delivery of temporary is expected on or about December 6,1927. BUSINESS: The Connecticut Light and Power Company is the result of a consolidation of a number of gas and electric light and power generating and distributing companies in Connecticut. The territory served includes the compact manufacturing district of the Naugatuck Valley and the manufacturing centers of Bristol, New Britain and Meriden.

The Company supplies electric light and power directly or indirectly to 49 cities and towns in the western part of Connecticut, serving an estimated population of 492,900. A substantial amount of power is sold to manufacturers of a widely diversified list of products, including a large percentage of brass goods manufactured in this country- The Company has also recently contracted to supply power to the New York, New Haven Hartford Railroad Company for use on its mam line electrification. The Company, in addition, supplies gas to seven cities and towns, having an estimated population of 133,000. I PROPERTY: The Company will operate gener ating plants, including the new construction, having an installed capacity of 189,507 h.p. of which 66,600 will be hydro-electric.

The Devon Plant of the Company, which has a present installed capacity of 90,000 h.p., was laid out for an ultimate capacity of over 200,000 h.p. The Company also owiis undeveloped water power rights having a potential capacity of 80,000 h.p. NEW CONSTRUCTION: The Company has un- Price Par flat, if purchase and payment are made on or before December 6, 1927, thereafter Par and accrued dividends, yielding in both instances 5.50% ESTABROOK CO. I BROS. 8c CO.

THE R. F. GRTGGS A PUTNAM CO. CHAS. W.

SCRANTON CO. THOMSON, FENN CO. The iUtementt contained ta ibit A i not baled upon iftforraitioii tad tdvicc which we beheie iciurkte tad rel SPAPERI.