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The Bridgeport times and evening farmer. (Bridgeport, Conn.) 1918-1924, June 17, 1921, Image 4

Image and text provided by Connecticut State Library, Hartford, CT

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn92051227/1921-06-17/ed-1/seq-4/

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Page Four
Friday, June 17, 1921
Commission's report
on the leather market dis
closing a sharp decline in
prices of hides, is no sur
prise to the Golbe Co.,
whose big tanneries and
factories in Massachu
setts, have long since
returned their prices to
the pre-war level
of $4.0. $5.00 and
$6.00 for high
grade shoes.
Wearers of CJolbe Shoes are never
confronted with market speculation
or market manipulation. When you
buy Golbe Footwear, you're doing
business with the Globe factory and
your dealings are not influenced by
a single outside manufacturer or
For real shoe satisfaction and
Same Prices To Everyone
All Shoes Plainlv Marked
Isn't It a Genuine Treat
To Buy Such High Grade Shoes for 4, $5, $6?
UST to think that only a short
time ago decent shoes cost from
$10 to $14 and now thanks to
The New Golbe Shoe store and the
Golbe methods. Toil can buy your
favorite shoes style for LESS
THAN HALF! Come In and
see for yourself that this
is true.
New Styles
Being manufac
turers, wo set the
style Instead of fol
lowing others.
All Styles
All . I .
;i ;V 11 ijt?iiLiier
All Sizes
Let Your Next Shoes Be Golbe 's
Every Pair Guaranteed !
The StraifieM
IK : '
An excellent action picture of Miss Hilda Lewis on the London
Country Club's tennis court. Miss Lewis has the reputation In England
of being the best dressed woman in the world.
& v 1 t
i. sfP" . ' " .
I r I
The first nirntogranfe in fhs United States at Armfntl Simx, fakea Jsst Sjefcrre be n2te Ms fxs
"Jackass" speech in London. He is now being fatene to tbe fifmsra. TRratftng Oram, left to rigkt
Admiral Sims, Lord Deahoroogli and Errl Bealfy.
Millions Of Savers
Are Needed For Funds
For Business Revival
Advertise In The Times and Watch Business Grow
Millions of savers are needed to
surily the funds which will hasten
business revival and promote gen
eral prosperity. This is the theme
of a special article in a recent issue
of the Bankers' Magazine contributed
by B. M. Grant, manager of the Gov
ernment Loan Organization of the
Second Federal Reserve District,
writing under the caption "The Per
manent Solution of the Credit Situ
ation." The writer says:
'The condition of world finances
demands that new classes of invest
ors be developed. Large investors
may be left to themselves but it Is
essential that small investors be en
couraged. The fact is that America
has scarcely begun to show the
world what she can accomplish
through a well balanced program of
industry, thrift, saving and invest
ment. The whole people must co
operate with vigorous determination
to accumulate capital. Wage earn
ers can save and invest large sums of
money in the aggregate the success
of the Liberty Loan campaigns dem
onstrated this. Thirty million work
ers saving an extra dollar a week for
three years would release an addi
tional ?5, 000,000,000 for productive
enterprises. A properly organized
effort, actively supported by bankers,
business men and workers, could
make this a continuing reality.
Josfible Savinsrs Enormous.
It is doubtful if the capacity of
the American people to save and in
vest has ever been carefully ap
praised. A few figures in this con
nection are significant. Of the $65,
000,000,000 estimated annual aggre
gate income of our people, probably
$55,000,000,000 is paid over by em
ployers each year direct to their em
ployees. The Comptroller of the
Currency recently declared that "'the
income of the people of the United
States in excess of ordinary living
expenses probably amounts to $10.
000,000,000 per annum." In this
connection it is worth, noting that for
the Vear 1919 the American people
paid taxes on $22,000,000,000 worth
of articles classed by the revenue act
as luxuries. Our national interests
would have been better served had a
port-on of this outlay been reserved
as productive capital.
Loanable Funds Inadequate.
At a time like this, when the sup
ply of loanable funds is highly ina
dequate to meet the increasing de
mand, it is extremely important that
bankers exert themselves to the ut
most toward the stimulation of sav
ng. A shortage of capital is man
if est on every hand. As one evidence
it may be noted that money rates are
the highest in forty-eight years. Bus
iness men will appreciate their re
sponsibility in this matter when they
realize the direct relationship be
tween the accumulation of savings
and the limits of credit expansion.
Just as credit is based upon availa
ble funds, capital in turn can come
only from savings. There can be
no nustajce tnerefore about the ur
gency of drawing every idle and
hoarded dollar, and all potential sav
ings, as rapidly as possible into fin
ancial channels. Gathered into the
hanks and the National Treasury this
money farms the basis of credit. It
has been estimated that the idle and
hoarded money alone in America may
run into ten figures. Bankers and
business men can render the country
as well as themselves invaluable as
sistance by co-operating in an effort
to draw these funds into circulation
Invented Savings Furnish Employ
ment. Many people do not know that
their savings can exert an important
influence upon the economic of the
nation. They axe scarcely aware
that their savings furnish part of the
cajital ami credit to carry on the
enterprises which give them "their liv
ing. Little do they understand that
the savings banks are one of the
channels through which they in
directly provide capital to develop
our great railroad systems, to finance
building operations and municipal
undertakings: that the commercial
banks aro a medium through which
the funds deposited by the many are
made available for productive pur
poses; that investment bankers are a
channel through which capital goes
to n nance nuge corporate enter
Prosperity Depends On Thrift.
There Is nothing more inspiring
than the optimism of a man awaken
ing for the first time, to the illimita
ble economic possibilities of an
America turned a nation of savers.
A vision of boundless growth and
prosperity unfolds before him. He
sees a nation of thrifty and industri
ous workers speedily recovering the
blessings of prosperity. Fortunate
ly for America and for the world
such a dream is not impossible for
realization. While thrift alone is not
sufficient to lead America into the
sunlight of prosperity, it is the one
great constructive force now requir
ed throughout the world. True,
thrifty living by itself cannot guar
antee the speedy .return of better
conditions, though naturally enough
bankers were the first to recognize
after the storm of war had subsided
that without real economy in every
household the future was none too
promising. ....
It is truly amazing what confused,
ill-conceived ideas the average Ameri
can has regarding some of the out
standing flnanci-i ) Tid economic facts
confronting the world and, quite ob
viously therefore, affecting his own
fortunes. Banks can serve the
country's interests and their own by
keeping before their respective com
munities such facts as the size of
our national debt of $21,000,000,000
which remains to be paid. They can
interpret for their sections the effect
upon the world, production of the loss
of nearly 13, 000,000 men killed in the
war. They can explain that the
great war cost the world probably
$300,000,000,000 and that this is
equivalent to the total wealth of
America; also that the capital thus
destroyed must be restored through a
long process of accumulating sav
ings; and that the world can regain
its prosperity only through hard
work and thrift.
Accelerate Prosperity.
World reconstruction, business re
vival, the "new prosperity" will be
accelerated in proportion as all the
people co-operate toward this end
Our people, must know, as hankers
and business men know, that the
present demand for caipital is unpre
cedented Following are a few fig
ures which may well he kept in mind
In connection with current require
ments: Six billion dollars needed for con
struction of factories, homes, schools,
Six billion dollars needed for the
complete rehabilitation of railroads
(one-third of this construction should
be undertaken in the near future).
Two billion dollars needed for pub
lic utilities to permit community de
velopment, especially in outlying city
One billion five hundred million
dollars needed for highway construc
Suggestive Figures.
Such figures are amply suggestive.
It is well also to remember that bil
lions of foreign capital invested in
this country before the war have
since hee.n withdrawn. Not only this
but something like $13, 000, 000,000
have been advanced to Europe in the
form of 5 government and private
loans. ....
One of the functions of bankers is
fto maintain substantial equilibrium
between funds loaned or invested on
the one hand and the supply of money
held to deposit, on the other. A
proper balancing of loans with de
posits, of credits with savings and in
vestments, is necessary to insure
healthy financial conditions. It is
coming to be nearly as important a
function or 'banks to stimulate Itne de
velopment of capital as to take charge
of the loaning of such capital, w Kn
out the one, the other is impossible;
they are in a sense two aspects of a
single operation. The main question
is how best to accumulate funds.
The time has come when the people
of America know the need for econ
omy: in a greal: many cases they have
learned this from recent personal ex
Opportune Moment.
Viewing the situation from the
standpoint of developing new sources
of capital iit seems therefore that this
is an opportune moment to drive the
"savings idea." home to the individual.
The man out of work now realizes
the value of a fund saved for emer
gencies and when he again returns to
work he will be grateful for an op
portunity of safely investing some of
his earnings. Even the worker who
is not out of employment takes a les
son in thrift from the regrettable
condition of many of those who were
until lately his co-workers in indus-
Different countries have developed
different methods to facilitate the in
vestment of savings. Among the
necessary elements of any successful
plan are these: tbe method must be
mur to understand, must require the
least amount of effort on the part of
the saver, must have his complete
confidence and must afford the high
est degree of protection. In Ameri
ca the present tendency is in the di
rection of a system in which the em
ploye receives the co-operation of his
employer. There need, however, be
nothing paternalistic about such a
TinTi The Mnnlnve voluntarily re
quests the management to withhold
a stated amount from his wages each
pay day, the money to be invested as
directed. This plan, which is advo
cated by the United States Treasury
Department in connection with the
sale of Treasury Savings securities, is
receiving the hearty co-operation of
employers throughout the country.
The employer may either invest the
savings of his workers in $5 War
Savings Stamps or have the paymas
ter substitute the new $1 Treasury
Savings Stamps in the pay envelope
in place of the money withheld. An
important advantage of the Treas
ury's plan is that it is adaptable to
any organization, regardless of how
large or how small, anywhere in the
United States and it requires a
minimum of effort on the part of the
employer and the employe
Banker's Opinion.
A prominent Banker of wide in
dustrial interests in one of our larg
est industrial centers recently ex
pressed his Judgment of the value of
the savings movement as follows:
"There is no more important ser
vice that can be rendered, no pur
pose more worthy, than to aid in the
present movement of the Savings Di
vision of the U. S. Treasury Depart
ment, and to assist in every possible
manner in the instilling of the prin
ciple of thrift into the people of our
great country, so that they may
thereby share in the prosperity that
is in store for all who are pru
dent." ....
America could have no greater in
spiration to save than to behold the
wealth which six or seven generations
have accumulated within her bor
ders. Our huge investments in
transportation systems, i public utili
ties, roads and waterways, our .great
industrial and commercial enter
prises, all are but forms of -j- -cumulated
capital the combined savings
of corporations and individuals. Be
cause of those we are encouraged to
believe that what our fathers and
forefathers in their day accomplished
through thrift can be repeated es
pecially during the aftermath
of world catastrophe. To the so
lution of this problem of inspiring
the rank and file of America to save
and invest a larger part of their
earnings, it is of course to be ex
pected that bankers will continue to
bring the stimulus of sound, ener
getic leadership.
ML if.
iaWR?lWwBIHliii i JMM
Prince Christopher, husband
of the "Dollar Princess," former
ly Mrs. William B. Leeds, recent
ly was quoted as saying he
wished ho could go to America
'.r.d never return to Greece
Mr. Obo "A Connecticut Yankee
in King Arthur's Court" has no star,
so labelled. Harry Myers and Paul
ine Starke play the leading roles. It
is a William Fox production and had
its Now York premier March 14. I
do not know when it will be released
over the country.
The Call of the Clean
Our Prompt Service, Our Thor
ough Attention to the complete wash,
our modern equipment, our sanitary
methods and our modest prices are
Game of the reasons why so many
new customers are being added
weekly to our list of satisfied house
Clothes washed and returned damp,
ready to dry.
pieces returned ironed, and clothing
ready to iron.
collars, waists, etc.. given most care
ful attention throughout.
clothes washed, dried, ironed and re
turned to you in sanitary container,
ready to wear.
Lowe Laundry, Inc.
1000 Seaview Avenue
Bridgeport, Conn.
The Call of the Clean
Barnum 154 Barnum 580"
Store Hours, 9 A. M. to 6 P. M. Daily
ocVweW 8c Co.
(Hugh J. Koenig, Vice Pres. & Gen. Mgr.)
For your shopping trips have a
tubable gnigham
Dress $5.95
There is a large assortment for your
choosing, styles which are much favored for
general wear. Some have organdy collar and
cuffs, others of self material, some trimmed
with rick-rack hraid.
Others at $7.95 to $15
Specially Purchased
Bathing Suits
at $2.98 and $3.98
These are two piece suits with the tights attached, of
good quality jersey, allowing free movement stroking for
ward. Shown in navy and black with black and white
Annette Kellerman Suits $5 to $15
The Finest Quality
Wash Skirts $5.00
At least one of these tubable skirts aro included in
all summer wardrobes they are very desirable for gen
eral wear with promise of good service.
A New Shipment Bringing Extra Values.
Smart Sport Oxfords
$10 Values
. of white buckskin with a
tip, ball strap and quarter and
welt soles.
Other sport pumps and oxfords
at $8.95 and $10.
of Sweaters
A large new shipment we have been waiting for.
These are MOHAIR WOOL SWEATERS of fancy rib
weave, the favored tuxedo style with a sash a very time
ly sale indeed, for this is truly a "sweater year."
Colors are black, navy, dark brown, honeydew and
buff shade.
Summer's Newest
ffhT $7.50
Splendid values at these low prices of $3.50, $5 and
$7.50 due to special purchases. The new Summer types
in Georgette crepe, Canton crepe, taffeta, baronet satin,
duvetyns and felt. White, black and new colors are included.
Clearance Specials
Earlier in the
season prices
from $5 to $12.
Earlier in the
season prices
from 5, $1 to
from $10 to $15.
Saturday Only
Felt Sport Hats
White, orcbid, jade, tangerine,
in sailor and roll shapes
Millinery SecUon, second floor.

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