New Britain herald., 1916-12-07
HIGH COST OF CALL MONEY IS REFLECTED
Consequently Local Stock Market
 Has Remained Inactive
Furnished by Richter & Co.,


 The local market has been very quiet this week, due mainly to the fact that money rates have advanced, and banks have been cautious about in creasing loans. There has been a slight decline in most of our local stocks, but under the circumstances we think that prices have held up very we'll. We believe that the decline is practically over and that a good many of our stocks are selling too low at the present time. For instance Bristol Brass has sold as high as 93 within six weeks, and there have been sales to- day as low as 75 1-2. This represents a decline of nearly twenty points or 80 per cent. of the par value There has been no let-up in orders or profits and we believe that such a decline should be taken advantage of. The market closed today "A bid, " asked American Brass also has declined from it's recent high price of 435 to as low as 390. At 390 there was a rally which carried the stock up to 415 and then another decline within the last three or four days has brought the, stock back to 39S bid, 4O2 asked, and
 
 lent purchase for either investment or speculation. North & Judd Is selling in the neighborhood of 9S, the market being quoted 95 bid, 100 asked. This also is a good buy as is Stanley Works, which is selling in the neighborhood of no. Traut & Hine is quoted 65 bid, 70 asked and there has been good buying of the stock recently. So far this year nine per cent. has been paid by Traut & Hine and it is reported that another extra dividend of 1 1-2 per cent. will be paid this month. There are persistent rumors to the effect that Traut & Hines capital stock will be increased early in the year proba bly, from s5OO,O0O to $780, 900 at par ($25).
 This should make valuable Rights for the stockholders. There has been no trading as yet in Landers, Frary & Clark Rights, and there probably will not be until a meeting of the stockholders is held on December 19, at which time the proposed increase from s4,000,000 to $5,0OO,O00 at par ($25) will be authorized. On the present valuation of the stock, which is 77 bid, 80 asked Rights should be worth in the neighborh oOd of S11. There has been good buying of Amer ican Hardware stock with sales at 140. The market closed 136 bid, 139 asked. Miles, Bement-Pond Common is also good purchase at the present level, which is 205 bid, POS asked This price is ex the December 20th div1- dend of 21A per cent. Stock recently sold at 235 and in a good market we think it will go back there. Colts !, I,oII of the other stocks during the past week. Sales today were at 915 which is a slight advance over yesterdays quo- tation. The market closed today 91O bid, 920 asked. Next Wednesday the directors meet to declare the quar- terly dividend for January first. Last quarter the dividend tota1ed 1872 per cent Those in touch with the com pany's affairs look for a substantial increase this quarter. The company has recently secured an order for au- tomatic pistols from the United States government amounting to over a mil lion dollars The production of the plant in increasing all the time, and with the completion of the new build ings now under construction the out put will be nearly doubled. Colts Arms Is a good buy for either invest
 
 ment or speculation. Standard Screw has been very quiet and is now quot ed $40 bid, 57O asked. There has been nothing doing in Billings Spencer stock being nominally quot ed 122 bid, 1 25 asked.
 There has been few sales of Faf- mir Bearing Company stock this week at 1853. This company is capitalized at S3OO,0OO and is paying dividends at the rate of 10 per cent. regular and 10 per cent extra par ($25D Earn ings are said to be very large and the company has very bright future. This stock is very closely held and rarely comes on the market. Stock was quoted today 15O bid, 160 asked. Scovill Manufacturing Company stock has been quiet and is quoted 7S0 bid, 810 asked.
 The Hartford Insurance stocks and local Public Utilities remain about the same.