davidaulloa/AmericanStories huggingface dataset:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-04

have deposited eighteen billion So,.
lars more than they have drawn ON,
and therefore have credit for th,,
much in their savings accounts. Tn.
dollars. themselves, that thev
handed IN. have flowed right on
through the banks-have been sen,
out to buy the bonds. That Is, tina
money deposits have been used IN
behalf Of the depositors to buy N.
safest forms Of investments. When
q man buys q bond. he really rent,
bis money outputs II to work to
earn him more money. The say.
ings banks have done this for theI.
depositors.
So the picture OF tale piles q,
money Is all wrong. Even a p!ctu,,
Of piles Of bonds Is wrong I, 4,
stops ut that. The bonds represen,
two things First, since they are
readily saleable for cash, they mean
that any individual can get his saw.
ings out again in the form OF money
within q reasonable time. Seconds. .
and more important. behind those
bonds loom up the railroads. fac.
tories, businesses and public work,
that the money invested in them Sc,
going for the benefit OF everyons
including the depositors them,
selves. Saving. therefore. Is not mere.
" aocumulating money-it Is &C.
cumulating real wealth. The money
flows on like water to turn othe:
wheels-the real wealth and saw.
ings OF the country are thu accumr
lated factories and other enterprises
evidenced by the bonds.
Therefore the true picture o. wha;
the bankers mean when they say
the savings accounts OF the Amer.
can people total eighteen billion dol.
lars. instead OF plies OF money IN
vaults. would be factories, railroad,
and public works In action.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-04

The ore repre-
SCENTS potential
sire 9Th and
power. But Il
IN st be put
through certain
pro ssesot
preparation and
b e com e AC.
TIVE before !tJ
usefulness Is
made available.
II o a r d Q d
wealth isA dead
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-04
FIGURE IT
OUT YOURSELF
What Do the Bankers Mean,
Eighteen Billion Dollars in
the Savings Bank"2
BY JOHN oAkWooo

The bankers keep telling as that
the savings accounts Of the Ameri'
can people total eighteen billion
dollars. ! asked . dozen people
what that meant to them. Most OF
them seemed to see visions \of end
less stacks OF coins and bales OF
currency slowed away In the vaults
OF the fine looking granite bank
buildings.
Now, as q matter OF fact, there
Is less than nine billion dollars
worth OF money In the country ali
told, including gold, silver. nickel
and paper money Of all kinds. That
IS less than half the eighteen bill
lion. Therefore there must be
something wrong with the vision Of
eighteen billion dollars in stacks
and bales In the bank vaults. More
than that, there probably is not
more than one dollar for every
twenty Of that eighteen billion &C
tually In the savings bank.
But the eighteen billion in saw
irgs bank is no myth Just the same.
Suppose all the savings depositors
could demand all their money all at
once. and that they insisted on i'm
mediate settlement one way or
another when they found they could
not get Il all in cash. What would
happen would be that they would
come into possession chiefly OF
bonds-Government, state and mu'
nicipal bonds and the best railroad.
equipment. public utility and other
corporation bonds. The savings
depositors are really the owners OF
all this vast real wealth.
What the bankers really mean,
therefore, Is that the savings deposi'
tors, so far as money 10 concerned.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-04
New York Money Market

New NOrN. July ..
Foreign exchanges irregular .,,o.
crs,t HIitain, demand 4.@25, CARES
All Go-day bills on banks 4.@og,
France. demand Ell. ahIcs 81 81
1taiv, demand i.2q. cables 4.29t
belgium. demand 400. cahles 80 -
Germany. demand. per trilIloh' .-'"'
Argentina. demand $50.
Brazil, demand 1850.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-04
Honor CIImbsr A.s...

Million, England. June ls "A. p
by Nadia war memorial table, ~
we Feil and Rock Climbing Club"
OF the lake district. has been nm.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-04
Bradstreet's Report

New York, July 3.-Bradstreet'a Sat-
uTdav Will say:
While trade, crop and industrial "a.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-04
H0ARDED S4OO,0O0,OOO IS
DEAD. WEIGHT ON BUSINESS
BY 8. W. srRAus, -
President American Society for
Thrift.

hOARDING IL as unlike true
- thrift as a pile of iron ore
30 unlike q powerful locomotive
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-04
New York Stock Market
Corrected Daily by
J. A. GAMAGE & CO.

STCCN DiiOk bRS
335 Water Street Augusta
Phones f29i-1292
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-07-04

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New Britain herald., 1924-12-10
British Govt. Decides
 "Red" Letter Authentic
ay The Associated Press.

BY me AEboCldleu
 London, Dec, 10.-Prlme Minister Baldwin stated in the house of com- mons today that the subcommittee of the cabinet after examining all the evidence put before 1t had come to the unanimous conclusion that there was no doubt the zinovieft propaganda letter was authentic.
 The famous Zinovieff letter, urg- ing revolutionary activity in Eng land, was made public during the height of the recent election cam paign and was generally credited with helping along the landslide for the conservatives. The authenticity of the communication purporting to have been signed by Zinovieff as head of the third or communist in- ternational of Moscow, was denied by the Moscow authorities when the Macdonald government took them to task for it.
 An investigation into the authen- ticity of the letter, begun under the Macdonald ministry, was continued by the Baldwin government.
New Britain herald., 1924-12-10
SCHOOL VANDALS FINED
 IN SALISBURY COURT
New Britain Youths Convicted of Destroying Property-Gon1aki
 Goes to Jail.

Stanley Mikalowski. John Gonzski and Stanley Par were arraigned be- fore the town court in Simsbury last night on a charge of entering and theft from the Union district school in that town last week. Pac was found not to have taken part in the vandalism and was discharged, but the others were fined s25 on the en- tering charge and Mikalowski s25 on the theft charges. Gonzaki was fin ed s10 on the theft charge. Both youths were ordered to pay costs of s24,9O each. Nobody appeared to pay the fines and costs for Gonzakl and he was sent 10 jail.
 The men were found guilty of en- tering the school in Simsbury about week ago, tearing up the school register and other books, and carry ing away Christmas seals and the school flag.
 Monday night the three youths, with Edward Korownski and Chester Carbonski, were arraigned before the town court in Avon on charges of entering a cider mill in that town and stealing an automobile tire. They were found guilty and fined 1 S1O each and costs.
 The five were arrested after State Policeman J. K. Palmer investigated ! the breaks Monday.
New Britain herald., 1924-12-10
RISKS OWN LIFE
 ID RESCUE DOG
Owner CraVls Through Smoke
 to Save Hunting Companion

Crawling on his hands and knees through his smoke filled house to rescue his valuable hunting dog, Reinhold T. Rudolph Of 75s Arch street succeeded m locating the semi-conscious animal under the table in the kitchen las' night and brought it out of the house where it recovered quickly from the effects of the smoke, Rudolph suffered no Ill effects from his daring rescue.
 Telling Chief William J Noble of the fire department Of the inciient. Rudolph sad that be returned 10 his home about 9:S0 o'clock last nighr and found the house filled with smoke. Opening the door. the smoke poured out m a dense mass making 1t impossible to walk erect or 10 distinguish anything in it.. Realizing that his dog would be overcome and suffccated uless taken from the house immediately, Ru- dolph crouched low on his hands and knees and made his way about the house until he felt the dog $ form on the floor.
 In 'he meantime 7r alarm had been sent in to the fire department from Box 16 at Arch street and
New Britain herald., 1924-12-10
JOHNSON STRONGER
Ran Enters Todays Meeting Almost Sure to Retain His Berth as League President.

py The Associated Press.
 New York, Dec. 10.-The Ameri- can league went into annual session at noon today with speculation keen over what action the club owners would take in consequence of the vote of confidence given yesterday 10 Commissioner Landis by the Nation al league.
 President Ban Johnson of the American league, who has severely arraigned the Landis regime, was believed to have soliditied his forces over night and entered today's meet ing practically assured of retaining the power he has wielded for more than a score of years in baseball ranks.
 All talk of any drastic measures against Johnson hv his own clup owners had suhsided but con- troversy was expected among some of them over proposal to join the National league in endorsing Lands
New Britain herald., 1924-12-10
ELECT NEW DIRECTORS
William r. Atwood and Henry T1lmbull On Hospital Board-C. r. Bennett Chosen President.

William F. Atwood, president Of Henry Trumbull Of Plaiuvi}la. were the New Britain Trust Go, and elected members of the board of di- rectors of the New Britain General hospital at the annual meeting Of the incorporators yesterday sfter- noon.
 z. F. Bennett, president os the Stanley Works, was elected presi- dent, succeeding E. H. Cooper. who resigned after three years service Instead of electing a new treasurer to take the place of MT Bennett, who held that position for the past six or seven years, the directors chose the New Britain Trust Co, 10 handle the funds,
 James s. North, president and treasurer of the c. J White Mfg. Co. was elected president Of the Train ing School for Nurses, succeeding L. P. Slade, principal Of the senior high school who also resigned. Robert :. Brown was reelected secretary.
 The date for the formal oreriDg of the new hospital building will be announced by the executive com mittee within few days, There Will be no changes maie in the staff.
New Britain herald., 1924-12-10
TAX REVENUE
 WILL BE CUT HERE
(Contlnued From First Page)


 creased the merchandise item on its grand list from one million to more than three millions, and the manu- lecturers are paying taxes increased proportionately. In practically all other cities and towns in the state there Is a likelihood that the same condition would hold true if a thor ough canvass were made of the in- dustrial plants. Increased taxes in- crease the overhead of local plants and production costs are made greater, causing the plants of other cities to have an advantage in the markets.
 Under Blodgetts scheme. a tax rate would be fixed by the state and tax collected on the gross earnings of manufacturing establishments, disregarding the merchandise on hand. This would make for equality In industrial taxes throughout Con- nectcut. he believes The tax rev. enues would be returned to the cities from which they are collected
 See Reduction Tn Revenue
 New Britain's inventory account Is now as high as fl is possible tc bring 1t. the assessors believe, ant there is very slight chance of its be. ing increased through the adoption of Blodgett's plan, while there ii great likelihood that a reduction ir tax revenue would result from tht change. The plan would have tht effect of increasing tax payments or many of the competitors of loca concerns
 The biggest item of taxes paid b, factories is assessed on their plant and real estate holdings. Thes' would be collected as at present, th' assessors setting the valuation ant bringing them under the regula city tax rate The only chang would come on the merchands item.
 Including their payments for mer chandise, manufacturing establish ments now turn into the citys cof fers between 39 and 40 per cent o the entire amount Of tax collected
New Britain herald., 1924-12-10
DOESN'T KNOW WIFE
ITsu tKid) Bcnjanin of Plain,tlle in New Haven Hospital With Strange Mslady.

New Haven, Dec. 1o.--Medical authorities at Grace hospital today pronounced the case of Ivan Benja- min, of Plainville, who has been at that institution for the last S6 hours suffering from loss of memory, one of the most unusual that has come up in local medical circles.
 While the symptoms are those of amnesia, physicians would not say today as to what decision they have reached in diagnosis.
 Benjamin's wife and stepfather arrived here from Plainville last night after Identification of the man had been made by local and Hart ford police through clothing that he wore. They will decide today whether he will be taken home with them or left at the hospital for treatment.
New Britain herald., 1924-12-10
TAFT DENOUNCES
 RORABACK CROWD
Refers to Attempt to Name U, 8
 District Attorney

. New Haven, Dec. 1o.--In an arti- cle in the Yale News, Horace D. Taft, head of the Taft school at Watertown and one of the leading educators of the day denounces | Gov. -elect Hiram Bingham, repuh- lican candidate for senator, and the republican machine in Connecticut.
 In part, MT. Taft's statement fol- lows:
 Tt has been said that my deci- sion not to vote for Bingham is not a republican vote but a democratic habit. I am not troubled by this statement, but it is trife inaccu- rate. Beginning with Mckinley. l have voted for every republican
 president and for all republican can- didates for the national senate and house of representatives, with the
 exception of Brandegee in 1920. I
 have voted the straight ticket in
 nearly every instance. On Nover-
 Der of this year I voted the
 straight republican ticket with the
 exception of Hiram Bingham. My
 case is quite unimportant except
 that 1t probably represents fairly
 the case of thousands of republi- cans who cannot submit to the lat est manifestation of the power of the machine.
 The party papers are making a plea for votes for Bingham on the
 ground that he Is needed in Wash ington. This Is situation that : must often be faced in our politics, and never did voters have a better opportunity for action, or an oppor- tunity with less risk. On the one hand, we have a machine the sel- : fshness and tyranny of which are
 only beginning to be appreciated.
 Every honest man who goes to
 Hartford in any capacity comes back
 with new tales of it.
 The dreadful indictment pub
 lished in the Waterbury Republican f of J. Henry Roraback's using the
 power of the machine in connection , with the water powers of the state
 has never been answered. The ma.
 chine, through it's senators, hal
 urged disreputable appointments tc the federal service. The appoint l ment of a man utterly unfit morall. l and mentally. unfit In every way ex. s cept for his service 10 the machine Q was strongly urged for the office ot 9 United States district attorney. tho . most important office in the fedora
 service in this state. Nothing .hu e the knowledge that there would h. y a tremendous scandal prevented tht' s nomination. Every measure befor' s the legislature has been considered - not from the standpoint of the wei g fare Of the state, but from tht Q standpoint of the welfare of the ma I chine, and nod from the head 0
 the machine. or from John Buck S ley, the lieutenant, has passed O D rejected the law. It is bis machin, = that Hiram Bingham has served hi Q short public life"
New Britain herald., 1924-12-10
REV. i. MISSIRIAN
 DIES IN FAR WEST
tcontinued From First Page)

morning.
 Death was due to complications following an operation for appendi- citis according to tho telegram. He was taken suddenly i'll last week and was operated upon at the hos pital Thursday.
 Native Of Armenia
 MT. Missirian was born in Ar mepia. He was about 35 years old. He received his Carly education in the Central Turkey college in Ain tab. Turkey. and in the American Missionary school. He came to this country and studied at Andover Theological seminary. His first pastorate was in Concord, Massa- chusetts.
 In 1918 he came to New Britain to take charge of the Stanley Me- morial church of this city. He re- mained here until December. 1891, when he went to California.
 While In New Britain MT. Mis- sirian made many friends and the news of his death comes as a dis tinct shock. He was active In com munity work and was prominent in r. M. C. A. athletics,
 He was familiar figure in the handball courts at the "Y" and one year was a contestant for the city championship. He was a member of the City Mission.
 Prominent in Masonic Circles
 Fraternary MT. Missirian was a member of Corinthian lodge, A. F. and A. M.. of Concord, Mass; Cid dings Chapter R. A. M, of New Britain: Doric Council R. and s. M., of New Britain: Washington Con- mandery. Knights Templars of Hart ford; all the Scottish Rites bodies of Hartford and the Norwich con- sistory. 32nd degree.
 Shortly after leaving New Britain MT. Missirian came back to New York to be married and visited New Britain while on his honeymoon. He leaves a widow and one daughter the latter having been born las February. He also Is survived by g sister, Miss Zabelle Missirian in Bos ton.
 Another survivor is a nine veal old boy thought to be nephew whC has made his home with the minis ter for years. There is sad his tory connected with the boy. Dur ing a Turkish massacre of Ar menians MT. Missirians married sis ter, her husband and three childrei i, were reported killed. Three year later 8 boy was found by the Nea East Relief association and all in :, dications pointed to the theory tha he was orfe of the three children re reported killed. The boy was to- young at the time of the tragedy t learn his family name and whel 2 found three years after the nassa | ere could only tell his first name Although definite proof of his identi ty was lacking, there seemed S
 much evidence of his being
 nephew of the minister that he va I taken In by MT. Missirian and give | home. When the minister remove
 to Fresno the boy went with him Funeral services will be held ne1 II Monday in Fresno and burial will I
 in that city.
New Britain herald., 1924-12-10
More Arrests Likely in
 Niles, Ohio, Klan Riot

Niles, O., Dec, lo.-SherlR 5ohh E. Thomas today expected to make more arrests on the 95 secret in- dictmsnts by the special Trumbull county grand jury which inVest-- gated the rioting here on November i, incident to . scheduled parade of the Eu KluX Klsn.
 Twelve Niles men named in the indictments and arrested hy inc sheriff late yesterday and last night were released on s1,oo0 bail each.
New Britain herald., 1924-12-10
GAFFNEY NEW HEAD
 OF KIWAN|S CLUB
Popular Lawyer Elected Presi.
 dent at Meeting This Noon

Attorney Donald J. Gaffney was today named as the unanimous choice of the New Britain kiwanis club as its president for the com ing year. The election took place at the annual meeting held at the Burritt hotel this noon.
 Mir. Gaffney's election followed the nomination of Vice-President Harry II. Howard, who was the first choice of the club. but who was un- able to accept because of the pres sure of other business. Dr. Henry T. Rray was elected vice-president. Elmer W. Pape was reelected treas urer and J. M. Ward was reelected district trustee.
 | Directors for the coming year in- clude Attorney Morris D. Sake, Will liam Cowlishaw. Harry II. Howard, Howard Y. stearns, Dr. L. R. Weir A. J. Leventhal and Donald Leavitt'
 The new officers immediately take over their duties. There was no official speakers at the meeting, but inasmuch as the public speaking class at the Y. M. c. A., consists of a large number of Kiwanians, Sec retary c. W. Parker of tho kiwani' club, being president of the class the embryo speakers present were called upon to make short speeches It was following an address to hi' wanis by Professor John w. Wetzel
 instructor of the class that th'
 class was fodmed at the Y. M. C. A
 and the club has entered whole
 heartedly into the business of de
 veloping speakers, Attorney Calf
 ney, the new president, is member
 of the class. Other prospectiv'
 spell binders who spoke were Franl 1 Rackliffe, Jr., William R. Fenn ant
 Loomis J. Thompson.
 J. NJ. Ward, chairman of the Her
 aid -Kiwanis contest for the mos
 public spirited citizen. reported tha . Miss Ventlie F. Logan had beel elected the winner and would b
 presented with a medal at the an nual banquet next month. Tn medal was shown for inspection an was ordered suitably engraved. It was voted to send flowers { Charles W. Hawkins. retiring presi : dent, who underwent an operatlo : yesterday by Dr. L R. Weir at tn l New Britain General hospital. The new president is Q son C Judge B. F. Gaffney, for 20 year : judge of the probate court. and Mir Gaffney. He is young lawyer bu - in the short time he has been prat ) ticing has taken a prominent pos ) ton among the members of the pa l in- this city.
 Attorney Gaffney is a graduate |. the New Britain high school Of th - class of 1915, of Yale college in 19l 0 and of Harvard law school in 192 a He one time was a reporter on IT s staff of the Herald. He was admi n ted to the Hartford county bar tT q years ago and spent year in u . office of Kirkham, Cooper, Hunge t ford and Camp. A year ago @ opened an office in the New Brita
 National bank building, where ne
 TOW located.
 His first official act az preside
 wa. to extend an invitation to A c torney Stanley J. Traceski to repe V to the Kiwanians a toast to the fl;
 he recently gave at the annual Ill IT day exercises of the New Brlta l. lodge of Elks last June. The inv v tation was accepted.
New Britain herald., 1924-12-10
Wall Street Briefs

New York, Dec. l0,-~Steady ex- pansion in the steel industry is re- lected In operations of subsidiaries of the U. s. Steel Corporation which now average more than 70 per cent of capacity, an increase of per cent in the last week.
 West Coast oil Co.,, in which As- sociated oil holds controlling in- terest, has declared an extra divi- dend Of s2O q share payable Decem- Der 3l, to holders of record Decem- Der 20.
 Pig Iron has been advanced 50 cents a ton In Pittsburgh to a max mum of $22 at the furnace.
 New York & Honduras Rosario Mining Co. declared an extra diVi- dend of 5 per cent payable Decem- ber 24 10 stock Of record December IS,
 Lobitos oil Fields, Ltd, has de- clared a dividend of 10 per cent, less tax.
 Robert S. Lovett, chairman of the executive committee of the Union Pacific railroad, today resigned as a 1 diraotor nd a m m her nf the finance committee of the New York Central railroad and its controlled lines. He has been succeeded by c. B. Seger who is also director and member of the finance committee of the Union Pacific.
New Britain herald., 1924-12-10
Shuttle Meadow avenue and the fire

Shuttle Meadow avenue and the fire apparatus, arriving on the scene. found that an overloaded furnace had started a blaze in the partitions between the kitchen and dining room. Experiencing considerable difficulty with the smoke, the tiremen made their way to the cellar and i'll d short time put out the blaze.
 Chief Noble estimated the damage at about $500.
New Britain herald., 1924-12-10
ST, ELMO LODGE TO INITIATE.

St. Elmo lodge. No. 21, Knights of Pythias, will meet Wednesday night at it's castle hall. A class of 10 pages will have the rank of esquire con- ferred upon them by the second rank team of St. Elmo lodge. This is the largest number of candidates 10 receive initiation this term. Plans will be made for a big banquet.
New Britain herald., 1924-12-10
Draths
Annie Rite Hiiby

Annie Rite Hilby, a former New Britain resident, died in Hartford yesterday afternoon. She is survive ed by two nephews, c. A Joslin and Carolina Jemp of this city.
 The funeral will be held tomorrow afternoon at o'clock. at Erwin chapel. Interment will be in Fair view cemetery,