The Detroit times. [volume] (Detroit, Mich.) 1903-1920, January 01, 1917, AFTERNOON EDITION, Image 7

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The Detroit times. [volume], January 01, 1917, AFTERNOON EDITION, Page PAGE 7, Image 7
About The Detroit times. [volume] (Detroit, Mich.) 1903-1920

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The Detroit times. [volume] (Detroit, Mich.), 01 Jan. 1917. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83016689/1917-01-01/ed-1/seq-7/>

Newspaper Page Text

STREAMS OF
MONEY ROLL
IN ON STATE
Titles of Michigan En
joy Unprecedented
Prosperity
0 - _ r ~-j
MANUFACTURES
AT HIGH POJNT
Indications Are That
Bumper Times Are
To Continue
Great streams of money are roll
ink in on Michigan The state In
prosperous as never before.
Th«* volume of Michigan'* manu
factured pmdu< Ia during 191 H was
the greatest in history wage# gen
entity »t-rt higher than during the
year previous, bank charing# *nrt
bank deposits In most cities showed
tremendous upward bounds. mrr
cantile business was unprecedented
ly active; building construction un
usually large
These farts «tnnrt out today In
report*, mothered by the United
Press, from commercial organize
Ilona of a score of rrpresentktiv»
♦ Mica In Michigan And practically
everywhere. It khk emphasized tbn*
present condition* were not du
alone to "war prosperity" Firm,
normal expansion was claimed fn*
nearly every section of the state
and was a united prophecy
that would equal or surpass
the year now closing In the matter
of general prosperity
Here are the statement# of th"
executive# of commercial bodies In
all part# of the state
Edwin Denhy president *of 0M
Detroit Hoard of Commerce "Bus-
Inews for lilt was far In advance
of any previous year Manufac
tured product# Increased by RO per
cent, with a large part of the In
creaae In the automobile Industry
was scarce with an average
Increase of if, per cent In wanes.
Building construction during the
first 11 months was over $47.000 000.
an Increase of 6? per cent. Hank
clearing# Increased ft3 per cent, and
hank deposits .33 per cent, the lat
ter now totaling $140,000,000. Mor
cantlle business has been very ac
tive and collections pood. Pros
pects for 1917 are excellent In every
line."
Mutkegon la Prosperous
P P. Schnorbach. secretary of the
Muskegon Chamber of Commerce;
"During 191 <i bu*lt»eea conditions In
our city were never better. Manu
facturing increased practically
double what we have ewer thought
of. while the retail business houses
hare been Increasing their employes
to the extent that they are crowded
behind counters almost in one an
other's way. The t hnstmas trade
has never known an equal As fo’-
the future, 1917 will -ee so many
more Improvements that Mu-*keg< n
which will ha\e at t ht end of this
year, 50,000 peopli at th rend of
1117 will have close to 73,out* All
factories are now sending out th* i
the country requests for help, which
means that a# soon as the slimmer
season opens, the business will be
booming more than ever"
C F Holland, secretary of the
Jackson Chamber of Commerce:
"Present conditions in Jackson are
excellent In every wav There has
#
.been marked Improvements over a
year ago in all lines. Domestic
trade ha# more than kept up to the
standard and foreign trade has been
extraordinary. All our factories are
running Hill capacity. Hulldlng con
dltlon# never were better. Collec
tions are good. Retail and whole
sale business Is unnaualy favorable.
The outlook for 1917 Is most grati
fying Our factories have many ad
vance orders for the new year Con
ditions in generally are exception
ably favorable "
Charles H Kelsey, president o*
the Grand Rapids Association of
Commerce "All local factories are
enjoying the utmost prosperity and
In many Instance# are operating
overtime and beyond capacity Thl.t
activity Is not. due to the manufac
lure of munition# of war. a# Grand
Kaplda has no new plants put up
WK SPECIALIZE IN
Charcoal
Iron,
Motor Stocks
Unlisted Securities
Hank Stocks
jl i ‘
Babcock,
Rushton & Cos.
MKMHERS
NVw York Htock Exchange
Chicago Stock Exchange
Chicago Board or Trade -
137 S. I* Salle St., CM capo
7 Wall Street, New York
for that purpose. Business coudt
tlons are aucb a# can be easily re
adjusted at the close of the pres
ent war. The commercial und In
dustrlal development of a commu
nlty Is beat determined by bank
clearing# and building prrmtta.
Hank clearing* here this year wdll
be upward# of $47,000,000 greater
than in 191st, while building permit#
will exceed those of last year bv
about $1,000,000."
.Not Oaya Enough
Grant 3 Hennett. secretary of the
Hattie Creek Chamber of Com
luerce; "There were not sufficient
working days in 1910 to satisfy Hat-
Ttr Creek Industries nml #ev«*faP
cerns are still working day and
night shifts Our 170 diversified in
luHrle# were most successful iu
eeurlng raw materials and efficient
help. Seventy two per cent or ware
earners of Battle Creek own the'f
own homes Three plants moved
here the past year from Chicago
and six local concerns are building
additions."
Charles H Davis, secretary of the
t-anelng Chamber of Commerce:
'The Chamber of Com
merce association announce# with
pride that the city ha* enjoyed one
of the mo«t prosperous year# iu It#
history Our manufacturer# ar
'axed to capacity and *»ur mer
chants state their business and col
led tons are unprecedented The
prospect for 1917 1# equally as good
or greater l.ansjng tor several
years has been under the dry re
gime"
11. W Douglas, president of the
Ann Arbor Civic association "Ann
Arbor Is Just completing the most
prosperous year with the largest
amount of building in its history
Its manufacturing Industrie# allied
to the automobile trade report an
abnormal amount of business with
prospect# a# bright or brighter for
I**l7 Other metal trades teport
business above the average”, but In
the furniture line business has not
been g‘>o<i While agricultural
turns Iu volume were low, good
j-rieps brought prosperity to the
farmer. This, with the m " f -u>
:ring activity, reflect# gi
ness conditions for retail mer
chants. **
l«eon J. Baker, Indnstrla' agent of
Traverse City "The whole Grand
Traverse region 1# in the most pros
l*rous condition of It# history. A
half million dollar cherry crop, fnl
lowed by an exceptional crop of
peaches and small fruits, a fair crop
of apples, all of which sold at high
er than the average price and a
heavy potato crop with price# th-'
highest In the history of this sec
tlon, have assisted jualerially In In
creasing the prosperity of every
business in the whole region. The
hank deposit# have been increasing
at a lively rate; old time credit ae
count# at the general stores, par
ticularly tn the small adjacent vil
lages, have been cleaned up, and
new machinery purchased for next
season Rorty per c*-nt of the po
tato crop Is still In the hands of
the growers."
Mortfo* Thrives, Too
D. 3 Hollenger, secretary- man
ager of the Monroe Chamber of
Commerce: "Monroe 1# giving de
cided evidence that, a period nf pros
perity has settled all over the Coif
ed States. To Indicate the pros
permia buslnesw condition# here we
call attention to the fact that there
Is a net gain In bank deposits of
$744 029 52 In 322 days. The fac
tories are working three shift# dally
and we are already assured of the
coming of three new manufacturing
W. E. Moss & Co.'
Investment Bankers
Union Trust Bldg. Main 4612
Members Detroit Stock Exchange
Reliable Information Prompt Executions
To Our Friends and Clients
We Extend Be«t Wlahc* for a
Happy and Prosperous New Year
Carlyle & Povah
Member Petrol! Stock Exchange
4
listed and Unlisted Securities In All Markets
We Solicit Your Inquiries and Correspondence
606 Penobscot Bldg. Phone IVlain 4800
LEWIS G. GORTON
STOCKS & BONDS
Ordara Executed on All Exchange*
Information Gladly Furnished
1413 Majestic Bld«.—Phones M*636; ty-612
Member Detroit Stock Exchange
concern# that will employ at least
1,000 tuen and which will make an
Increase of population within the
next six or seven months of'approxl
mat*dy 4.000. The increase In busl
nn## In our manufacturing plants,
however, t# not due to war orders,
but 1# an Increase that will last."
Charles Murphy, industrial score
tary of the Hault Hte. Marie Civic
A Commercial association: “The
Associated Advertising Club# of the
World, In compiling annual stutts
tic# regarding retail business con
dltlon# of N’orih Amerlea. selected
Sault Ste Murie as one of the lead
ing market center# By thi# report,
bnalm-aa coaditionit ol the city are
shown to be most prosperous and
encouraging, with an average tn
crease of more than 33 per cent in
sales of retail concerns."
H N. Clark, secretary of the
Manistee Board of Commerce:
"Manistee merchant# and manufac
turers report a generous Increase In
sale# tbln year over 1915 and are
confident that the coming year will
see a continued and Increasing pro#
perlty." Three now factorle# and
several other# assured, greater bank
deposits, both commercial and sav
ing#, and other projects under way,
.ill point to a banner year in 1917,
Factorle# are running full capacity,
shipment# have never been larger
and there are practically no unem
ployed In the city. Manistee
the new year with -confidence"
Menominee Ha* Banner Year.
Roger M Andrews, president of
th• nominee Commercial club
"Hu condition# In Menominee
.it the clove of 1916 are very satis
factory All mills and factories are
running full time and the electrical
shops are still working overtime on
war orders. The lumber market Is
none too strong, but the mills ar'-
working full time and woods opera
tions are being rushed. Menominee
»hls year has gained four industries
including the largest eleotro-cbeml
cal plant In the northwest and an
established ...wooden ware factor'
Merchant-* report ( ,th«- largest r> >r
in ihi history of the city, arid the
building record .of 1916 has had no
parallel in ihe past. The outlook
for 1917 Is excellent since onr pro
ducts are almost entirely staples "
James C. McCabe, secretary of
the Hay City Hoard of Commerce
"Nineteen hundred and sixteen ha*
been Hay City’# “banner year In
every line of business there has
been a marked increase. More men
and women are employed than ever
before, wages have Increased ap
proxlmately 2b per cent and the
whole city is exceedingly prosper
ous Building permits show an in
crease of nearly 100 per cent,-post
office receipt# gained Ift per cent,
express receipt# 30 per cent, tele
graph business, 50 per cent, tele
phone service 35 per cent, wafer
consumer* 35 per cent, while bank
deposits show # gain of over 30 per
cent During the year 14 new In
dustrle* have established here
by the Board of Commerce."
Conductor Urder Arrest.
Fred Anderson. No 934 Porter-si.,
a street car conductor, wax arrested
Friday night on e warrant sworn to
b> the Detroit United Railway. An
derson ,1# alleged to have collected
tickets aud sold them for personal
gain
At midnight tonight the colony of
Newfoundland will auoniaficidi y
come under the operation of what
Is said to be the most stringent
prohibition law that has ever been
devised.
DETROIT TIMES
ALL TRADE,
MARKS ARE
SMASHED
1916 Greatest (Commer
cially in History
of Nation*
VIEWS VARY ON
EFFECTS OF PEACE
General View Is That
Prosperify Will
Continue
NEW YORK. Dec. 30—A year of
superlatives In the financial and
business world cl<» >•■* today. PYorn
all qufhter# have coiue report# of
staggering totals of the year'# com
mercial and financial activity.
December, which closes with a
half day session In most quarter#
"today, has been remarkable a# the
turning point in the tide which
swept the Unit* and States along to
record exports, record earnings and
huge dividends.
On every hand as the year close#,
bankers, business men and econ
omists are speculating and talking
peace and It# meaning in dollar# and
cents In America. Opinions vary,
the bulk of them being that pro#
i * rtty will continue —with readjust
ments. ,
Veritable mountains of money are
r< presented in th* v*r end figure.-
and estimate# of the country’* busU
ness. ”
During the year f1.500.000.000 of
world financing was floated in the
United Staten.
Europe shipped $090,000,000 in
gold here to pay for munitions and
upplies and to bolster her credit
with us.
Hank Hearing* are estimated at
1259Jt00,000,000, a 35 per cent in
crease over the record year of 1915*
Altho crop# "failed" production
falling behind last year from 10 to
35 per cent, farm products were
valued at seven and a half billion
The Investment securities list'd on the Detroit Stock Exchange
•should appeal strongly now in view of the unsettled condition of the
New \ork market.
WE BEI.IEVE THAT AN INVESTMENT IN
Paige-Detroit Motor Car Cos.
Continental Motors Cos.
Reo Motor Car Cos.
W.K.Prudden Cos.
■docks will give to the purchaser a,profitable Investment.
We have dc tailed statement.-* and histories of these companies
which we will send on request.
W. H. NOBLE & CO.
The House in Michigan.
314-318 Dime Bank Bldg.
Tel. Main 6026-7-8-9
We Solicit Your Orders
and Inquiries
W. A.
HAMLIN
&CO.
c
Members Detroit Stock Exchange
A
{ 1010
Penobscot Building
CHERRY 4326
or more, a 30 per cent increase over
last year.
Railroad earning* are eatinufled at
5215.000.000, which la a 15 per cent
increase over 1915.
On the htiw'k exchange sales for
the year showed a 55 per cent Jump,
the year'll total suits beinj; nearly
240.000.000 shares.
Kail road a ordered 170,000 new
freight cnra and issued countless
embargoes in their tight to move
1 lie nation's freight.
In Wall-st new 'war babies” wen
horn, grew paper values with mush
room speed and tottered as peace
appeared on a distant horlxon. As
the year closes, big financial men in
Walt Ft. nr* talking ** peace bnbier"
and conservative Interests are re
ported loading up with shares of
railroads and Industrial companies
which are not dependent upon the
war for their prosperity. The gen
eral crash In prices which followed
llollweg's peace proposal and Wil
•on> message to the belligerents
the greatest since the Northern Pa
■ iflc panic In 1901—made bargain
Pflcaa for the “peace baby” tx
ponents.
Produce
The demand for poultry at New
V ir .«, white not so Important as at
Christmas, ir nevertheless one of the
lcjtdln* features of the market. Re
ceipts of poultry droppi-d off sharply
early tn the week. hut. tn expectation
that this would he corrected later
receivers have hesitated to advance
pricoK, hut ns the shortage still con
tinues and the demand is far from
satisfied quotation* ate forced higher
today Dressed calves are also shad
in ghtgher on an excellent demand
hnt rabbit* are weak and lower. Re
ceipts have been heavy and have go
cumulated tn atorag and as the .■•■a
son is not long they are now- coining
out.
Apples- $3 5004 5v per bbl. for
choice and for fancy.
IlsnnnitM Qood shipping stock
|C . 2.77. hunch
llrens Drl* and Idma«. li4olc lb.
I allfornl* Fruits —Orapes, Kmper
o'.- $4.50 p- r drum.
4 atihnge 14 50 hbh
4 heeae -Michigan flat*, 22Hc: New
V 'k. 24c: dorncati' Swls'. 27 ft '
imported Swiss, I’tt 10c; trick cream
2.1 id long horns. 24 >4 c; daisies. 2- \
ii 214 c lb
4 rnnberrtes —Date Howea. $9 250
9 50 per bbl.. $3.25 bu.
Uresisr.l Calves- Fancy, 16M»017c,
No 2,1501« c per lb.
Fresh V« getablea —Oreen peppers.
75' per ba.-'kel. radishes. 26080 c no*.;
parslev, 20 0 25c doa.; cucumbers,
hot house, $1 9G 0 2 tomatoes, hot
house. 22i per lb.; carrots, fl 25 per
bu Bruss'ls sprouts. 20022 c qt.;
celery. 20076 c dox.
i.rHpr i rait —|.t 5003.76 per crate
llneey—Fsncy whits, 16017 c; ex*
tre ted. 9010 c lb.
Hay—Detroit shippers are paying
the following prices for baled hay In
car lota, f o. and Detroit; No. 1 timo
thy. n»w sl4 015, standard timothy,
11$ 50014. light mixed,. »l a «M4. No
2 timothy. SU3IS; Nc. t mixed. IUB
12. No. 2 mixed. 18010. No. 1 ctover,
SlO&U rye straw. $8 50010, wheat
.and ■ >at stVagr. $8 5009 per ton.
l.eiaons- |4 0 4 50 per box.
I. lines— I - . 10011 25 per 100
Nuts Walnuts. 20121 c: almond a
19«30o; Alberts. Bratlls.
19 ii 20c; pecans 1501 ut per lb.
Oringn Navels. $3.750 4; Florida,
•3.5H0 2 75 box.
Onions $4 5c per IW-15, awk,
Spanish. |l 05 bu. t
Poiaises Michigan ear lots. In
bulk. (1 1601 40. Tn bags »1 6"OD7e
I>U ; new Bermudas. 99 per bbl.; |3 -’5
psr bu.
I*»uitry Springs. 200 21o: tight,
springs. 170 He. fancy hens. 180 19c.
mediums hen*. 17018 c; No. 2 roosters
18014 . roosters. 10013 c; geese. 20*ft
:tc ducks. 21032 c; turkeys. 38030 c
per lh. Dressed spilt.gs. 230; hens 19
0 20r geese, .'2o.’Sc, ducks, 2;W!4
IU k eye. :! >| per lb.
Hsbhlta $1.75 0 2 per dox
Mrnnhrrrlr* Florida. 44r per qt
Sweet Potatoes—ye/seya, kiln dried,
$2 per irate.
J4lHHl\l> PRICK*
Canned (iuudt APl'ias, $8 7508 per
■ah. Dima beans. 91.1001.50. Corn'
Fancy Mains. $1600165; standard.
91 36. taldi beets. $1.26 0 1 40. Peas
Fancy early funs, 01.80; standards,
$1 Salmon, tall. $2.4*. Marrowfat
peas. sl2 10135; early June. 11.60;
sifted early June, $l4O doa
Coffee Santos, standard. 160 17e;
medium 18 0 30c; fancy. 20 6922 c: Rio,
14V»*nf>4c 1-lb. packages. 19023 c;
1-lb tins. 28 0 29c. lb
Feed Tabbing prices. 100-lb. sacks
bran 981; standard middlings, sl3.
flne middlings. $35. cracked corn. $42
e-.ft»se p«rn meal. |4O. corn and oat
chop. $37 ton
Flour- -Jobbing prices: Best Michi
gan patent. $9 In; second patent
s*.4o; Straight. $8.40; pure rye, $8 30.
spring patent. $9 40 bbl. In Hth paper
sacks
' oil Raw linseed, |1 *»2; boiled lin
seed. $) OS gal in barrel lota. Kero
h’-n> In iron narrels. 7.5 c; red crown
gasoline, 18c gal.
It Idr * No 1 cured hide*. 21c, No.
1 gr*en hides Itff: No 1 cured bulls
F. K. FELTON & CO.
INVESTMENT SECURITIES
Listed and Unlisted Stocks and Bonds
Bought and Sold on Commission
1560-62 Penobscot Bldg. Cherry 953
Members Detroit Stock Exchange
George M. West & Cos.
Investment Bankers
Municipal Bonds, Corporation Bonds
Preferred Stocks
0 4
Members Detroit Stock Exchange
Union Trust Building, Detroit
\Wm. A. Neer & Cos. \
MEMBERS DETROIT STOCK EXCHANGE \
Direct Private Wires to All Principal Exchanges
248-250 Penobscot Bldg. Detroit, Mich. \
Main 5000 \
• Branch Office, Lansing, Mich.
We invite you to make use of our Stock Exchange con
nections. Our representative is on the Floor of the Ex
change from 10.00 a. m. until 3:00 p. m. except Saturdays
and holidays. <-
' . ' - v
By telephoning Cherry 2600, our office, we can connect
you with our representative on the Floor, or give you quo
tations on the stocks in which you are interested.
i
Our Statistical Department contain* earning statements
and detailed information on most of the stocks listed. This
information we will gladly furnish upon request.
' '
• t o
Joel Siockard & Cos.
Investment Bankers
Main F>or Penobscot Bldg. Cherry 2600.
v\V \ • \
15c; No. 1 green nulla 13c; No. 1
cured veal kip, 23c; No. 1 green v*al
kip. 'i»c; No. 1 cured murrain 19o:
N<> 1 green murrain. 17c; No. I cured
calf. 30c: No. 1 green calf. 29c; No. 1
horse hides. |6, No. 2 hone hides, IS;
No 1 tallow. s<; No I tallow. |7; No.
1 hides, lr off, No. | kip. and calf.
He off, sheepskin (as to amount
»wH, 60t- to H
Sugar Market
. 84oxsrs —Detroit wholesale prices:
Crystal dominoes. 3-lb. IIP 75; do. 6-
lb. 510 76. eagle table.*, fa 46; cut
loaf |4 60; cubes, $7,95; xxxx pow
dered. 17.70: standard powdered, $7.66;
granulated, extra coarse. $7.40, gran
ulated. fine, in hulk. $7 35, granulated,
26-Ib. cottons, *7.46, crystal domino
granulated. 2-177 STul 6 lb cartons.
In rases, $7 65; crystals domino gran
ulated, HF cases, |7 75. diamond A,
$7.85; confectioners' A. 17.20; No. 4
$7 26. No. 5 $7 80 No 6. 07.L8; No. 7|
$7 10; No. 8. $7 06; No 9. $7; No. 14»
$6.95; No. 11, $4 90. No 12, f6 86 No
1 8 84 80; No 14 86 80. No 16, $4 80;
non-csklng mlvture $8 15; beet gran
ulated. $7 06 per 100 lbs ; household
powdered. Is, 24 to case. |266; 48 to
case. 84.05 per case.
CHRISTMAS CLUB
IS MONEY SAVER
Most people find tbeir plana for
Chrlatmas gift making each year
seriously hampered by lack of funds,
and they can look back to many oc
casions earlier tn the year when
money carelessly and needlessly
i spent would be welcomed for (Mr
holiday shopping.
, The Christmas Savings club of t ha
American State bank was organised
to meet this emerg«ney, and ta lilt
never*) thousand peogla la Detroit
made paay work of providing fundi
for their gift making by saving
earlier in the year.
"The success of our Cbrtstmgs
Savings club has been remarkable,**
aald W. J. Hayes, vice-president and
cashier of the American State bank.
“We organized the club tn 1914 with
a few members who saved a fund of
$25,000 that year. In two years the
membership Increased to several
thousands,, and their savings to over
m. quarter of a million dollars--an
increase of over 1,000 per cant.
There are no dues One may Join
at any time and obtain full benefit
by Just making the payments as
they are due by any of our nine dif
ferent plans’*
MAN HIT BY
CAR, MAY DIE
ANN* ARBOR. Mich, Dee. *0
George Schenk. Pittsfield fanner. _
was hit by an Ann Arbor railway
♦
train early today and ona arm so
hadlv damaged that It was ampu
tated at a hospital. He may be
fatally Injured otherwise.
PAGE 7

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The Detroit times. [volume], January 01, 1917, AFTERNOON EDITION, Page PAGE 7, Image 7
About The Detroit times. [volume] (Detroit, Mich.) 1903-1920