New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1916-12-28
BROKER THINKS THE
CRISIS HAS PASSED
Expresses Belief Market Touched
Rock Bottom Week Ago

FURNISHED by Richter & Company
We believe that the bottom Of the
recent break in the local market was
reached several days ago. Since then
stocks have been inactive but in most
instances there have been fair recov-
cries from low prices.
Several extra dividends have been
declared by our local factories. Union
Manufacturing company, in addition
to their regular quarterly dividend Of
two per cent, paid eight per cent. ex-
ira. Stock is quoted 100 to 10. New
Britain Machine, in addition to their
regular quarterly dividend of two and
one-half per cent, has declared an
extra dividend of two and one-half
per cent. A similar extra was declared
last January and last July. Stock is
quoted 100 bid, los asked. North &
Judd has declared an extra dividend
of two per cent, payable ~December
31st, in addition to their regular quar-
terly dividend of four per cent. This
makes for North & Judd a total of ten
per cent paid from July list to Jan
uary list. 1t may safely be assumed
that a total of ten per cent. will be
paid the next six minths, making
twenty per cent. for their fiscal year.
The stock is quoted ninety bid, ninety
three asked. Traut & Hine, on Christ
mas day, declared an extra of one per
cent. and also one and one-ha1f per
cent regular for January list. There
have been several Traut & Hine ex-
tras during the past three or four
months and more are expected in the
future 1t is also rumored that an
increase in capitalization will be
made early in the year. Stock is
quoted sixty bid, seventy asked. Amer
lean Hardware, in addition to their
regular dividend Of one and one-half
per cent. has declared one-half per
cent extra. We believe that this stock
is now permanently on seven per
cent basis and that extra dividends
will be paid occasionally. 1873 is bid
for the stock, 1873 asked ex dividend,
with recent sales from 1875 to 1877.
Stanley Works has declared four per
cent. quarterly for January LIST, plac-
ing the stock on q sixteen per cent.
basis Landers, Frary & Clark has
increased it's capitalization from $4,-
100000 to $5,000,O0O. Each share
holder is entitled to subscribe to new
stock at par in the proportion of one
new share for each four shares now
held. Rights are quoted nine and
oneuuarter bid, nine and three-quar-
tiers asked, and as it takes four rights
for the privilege of subscribing to
each new share, new stock stands the
purchaser in from 81 to 81. SO far
there has been very little trading in
the rights, but they seem to be IN
good demand. All Of our local COM
panies are in a very prosperous con-
ditiop and the outlook for the future
is extremely bright
AS we said before we believe that
the reaction in the war stocks has run
its course American Brass has raj
lied from its low point Of 500 to
quotation OF $40 bid, $50 asked. This
stock has paid twenty-five per cent. in
the past two years, and althouh earn
ings are four or five times this amount
it is very probable no increase in di-
vdend will be made until the war is
over. and when that time comes we
believe that the American Brass COM
Danv will pay a large cash dividend of
100 per cent. or possibly 200 per cent.
This stock is not selling above it's in
trinsic value at the present time and
should be considered an extremely at
tractive investment without taking in
to consideration the speculative pos
%ibility at all.
The same can be said Of practically
all the so called war stocks, all Of
which we think are selling below
their intrinsic worth. Colts, Arms is
in particularly fine shape. The stock
is on an 80 per cent dividend basis
now and at present is quoted 500
bid, S25 asked. The yield is PR
tically 10 per cent Scovill