Evening Star Newspaper, August 14, 1927, Page 27

v ' e e TRADE CONTINUES " OVANEVENKEEL Pessimism Prevails, How- closed today at 29 cents a dozen for strictly fresh firsts in free cases, an advance of 3 cents a dozen over open- s Monday, while current re- re bringing 26 and 27 cents. Poultry Market Steady. The general live poultry market vules steady to firm under only mod jm.n» receipts and a fairly good de |but small, poor stock is slow sal> at inside quotations. There is no sur | plus in the daily arrivals of choice fat mand prevailing for choice fat fowl, THE SUNDAY STAR, WASHINGTON, D. C, AUGUST 14, 1927—PART 1. e 0DD HISTORICAL ITEMS RECOVERY IS BRISK . INSTOCK MARKET | | Long List of Gains From 1 to well absorbed and falled to stem the general wpward trend. Baldwin, General Motors, General Electric, Radio Corporation, Hudson Motors, Timken Roller Bearing and Union Carbide were run up 2 to 5 points, and American Can, United States Steel common, Woolworth, Al- lied Chemical, Bethiehem Steel and scores of others advanced a point or jmore. Commercial Solvents B soared |10 points to 352 and then dropped | to 345. C: points and General Railway Sig- e Threshing jumped | 811,000 mand sterling ruled around $4.85% and French francs 3.91%. The weekly clearing house state- ment_showed excess reserve of $22,- 725,150, a drop of $32,839,570 below that of a week ago. Aggregate re- serve totaled $642,672,000. The de- tailed statement of actual condition today showed an inerease of $196,000 in cash in own vaults and decreases in all the other items. Loans, di counts and investments dropped § reserve in the Federal serve Bank and member bank Re- s creased some $1,300,000 during the first half of this year, but sales of the combination radio-talking machine in- struments fell off and were approxi- mately $2,500,000 less than during the same period last year, stockholders of the Victor Talking Machine Co. are told in the annual half-yearly report. The report shows net profits of $2,- 006,235 for the half. 72 Lightning Kills Fish. ST. PAUL, Minn., August 13 (#).— APPEAR IN “DER MONTAG” By the Associated Prese. BERLIN, torical new Pol craft. August 13.—A list of his- items published by Der | Montag states: That as late as 173% a slight-of- hand artist was put on the rack in nd until he confessed to witch- fraudently attempted to sell black stones for fuel.” escape by the skin of bis teeth. That the executioner of the last Prince-Bishop of Bamberg prided himself on having executed 1,600 in- The executioner died in dividuals. 180 27 He managed to BALDNESS 6%. 971,000; net demand dep iere were a few soft spots in the | 004,000, and time deposits, industrial list, such as General & ever, Where Optimism | ring,chickens. 2 to 23 pounds, and | Nearly 7 Points Recorded < 125 to 30 cents a pound, but fowl we e " R . : a e : Reigned Before. e, |l Shesics Seng, o = | Rails rallied with the industri hut the gains were generally limite | to a pomt or two. ket existe som| inactive shares, Nagor ind Fri. | dropping 7 points and Scuthern 8, while in | soared 9 points hip of | | Hundreds of young bass were killed at b | That in 1799 complaining against 8,000. ‘vh.» Minnesota State fish hatcheries | the government was punished in during a severe electrical storm. John | Denmark with two wecks in jail on | Huderle, superintendent of the | a diet of bread and water. | hatchery, believes they were feeding | I when a Col Sales | in low water when the lightning ed the fi 1l o and records in-lstruck ened w ar o VICTROLA SALES. | NEW YORK, August 13 (#) | of talking machines A rather thin mar- | of the ordi | & Ar Colorado & | Central ble inter. wn in the statement of 1y of the Union Pacific s in the Northwest 3 and that as a r freight traffic in that region | would be affected. Cotton in Spotlight. The cotton market came into the otlight again when prices broke about $2.50 a bale on selling inspired by earlier weakness in Liverpool and more favorable crop weather here. Grain markets were irregular in re- flection of the week-end evening up of speculative accounts. Foreign exchange trading was dull, with no_important price_changes, De- | ing under e 20 to {at inside pounds_ will not bring | | . with Leghorns selling | chumacher | e he was | r having rices. Old hens continue 26 for stock weighing 315 - ith BY GEORGE T. HUGHES. Special Dispatch to T NEW YORK, dustrial and ecc o mained unchanged this week. Busi ness continued on n keel. If there were trades wk prospect e ik was not altogether plen nditions : S certainly were no worse than they | 2 were a week ago. Money remai easy. The fact that rates are not d clining further is 't disturbing in view of the great abundance of credit But there was a decided change in the attitude of the speculative elen toward th wk ket W mism rei guarded ¢ By the Associated Pre NEW YORK, t stock market, 13. — The usdergone a i w havin hursday T R T TR Worth of Good FURNITURE SACRIFICED WE HAVE---MONDAY, TUESDAY, WEDNESDAY To Dispese of the remaining lots in the $15,000 Sale. Your promise to pay is all we ask. Arrange credit terms to suit yoursel!, We advise you get here as early as pos- sible as there is only a limited quantity, and judging from first two days of sale, it s 2 re drags; 4 pounds ket is dull and weighing k et under the lead recovery to 7 22 airly | the high-grade industri air for both | tations, which were ¢ guinea fowl is |est of the d: A1.00 each. gains ranging from 1 to nes ket rules gen-|points. Trading was in heavy volt airly good and |for a Mi 1f-holiday centered on top- | the day's s: aggregating vals on | 1,000,000 g common | ' The re retion tic below | which precede not associated en inside | with any outside news developments. rong supporting orders been pplied for many stocks overnight the theory that the decline in many ues had heen carried too far, at for the time being, and their Sl edkc atainass. ution. together with the short covering of “bear” traders, resulted tations today at Light Street|in some rather sharp advances arf J o | traders and investors who failed to Beef cattle, first quality, pound. 9a | ynioad on the first break sold stocks - |on_the rally, but these offerings were s. Final quo- | ound the high- | disclosed a long list of | Y, Iy active 7 den grade stoc! the wharves, how to ordinary st quality is No surpl in the daily arrivals, s 1l lambs have to be sold at buy-|on Not much demand for | i 1 near! like the 77 % time since wi corded the ar | money and large investment demand no important reaction in stocks could | be anticipated. When Atchison, for instance, lling at 19 o % an indus- try as ti ntitl sell on a changed conditions prevailing sinc the United States became a creditory 3 Nation. Now with Atchison 10 points | choice to fancy, per head, down little i est- | common head, ment deman 11 the | ¢, al4: large, fat, 10a $10 dividend-pay 8 Reason A month made that 80 long a r values, it wa WHEN YOU NEED A KEY need our Instant dupllcating service. | kev. 23 Bring vour locks to | 0; | TURNER & CLARK | shoats. [ New Location, 122115 New York Ave Next to “Hunt'e” onint stoce. | off as to qu common not wanted. choice, 13a131; : common, thin, ight, 10all: sows, live pigs, 14alé ¢ Is Abandoned. » when objec had nswered th o ards had 1; that the bull mar- | ket whick n late in 1924 was dif- | ferent from other markets and the | fate that had overtaken other pro-| longed ances was not to be the| experience this time. All this lina of | reasoning has been abandoned and | the altered viewpoint is due solely | and entirely to the action of the | market itself. The hig break was | precipitated Thursday, when a pool | in one industrial stock which had been | extravagantly hid up—Manhattan Electrical Supply—collapsed with the loss amounting to some 60 points, a decline seldom matched in one day's trading on the Stoc change. The parallel with the Devoe & Reynolds incident in March, 1926, was too close to escape attention, and on Fri | two other speculative movemen! individual industrials broke down alarm spread through the whole list and a general and severe decline set in. 1 What then of the future? &wer is not easy, things may be said. In the firs place, the market has received a| shock from which it will not quickly | recover. There probably will be no | repetition of the bidding-up process | A L el | T 777, O 00 e N\ % L, % 7277 Ten-piece Dining Room Suite (walnut veneered). The heavy turned legs on each piece gives the air of being as substantial as it really is. In the suite—60-inch buffet, china closet, console server, extensiom table 3109 50 o and six chairs. Regularly $145. Sale Price.. Attractive Four-piece Bedroom Suite (walnut veneered) with lines of delightful and characteristic simplicity, In- cludes a dresser, chest, full vanity and double bow-end bed. Regularly $135. Sale Price.... $99'75 The an- but two or three 2 \ % 7 Y, Vi . It has been demon- | strated that this market is just as PN > Vulnerable as any other which has | ]W had 5o long an advance without sub. P @ P, ction. Neither investors | nor speculators are going to rush in to | buy stocks regardless of price for fear at if they do mot act at once they will have 0 pay more. § Attention to Trade Conditions. Secondly, more attention ‘will be aid to business conditions. The Stock Market is not likely to move @s a unit, even to the extent it has been doing. There is no good rea- son, fgr instance, why unrestrained competition in the motor car trade should affect unfavorably the mar- ket as a whole. On that point the action of the General Motor board of directors seems to show that they at least have no disturbing doubts about the outlook. The weekly re- views of the iron and steel trade are not particularly encouraging, but United States Steel's unfilled tonnage statement showed another increase, the second after a long series of de- clines. Railway gross earnings are falling off, but the railroad execu- tives expect better things in the Fall. The market from now on is going 1o take into account these matters in greater degree than it has been | doing. Finally there is still the money sit- | uation to appraise. The backbone of | the market has been the abundance | of credit. Any substantial harden- | ing of rates here would be imme- | diately reflected in the price of Se- | curities oMar there has been no danger signal. Call money has ruled at 3% per cent, with funds obtain- | able at concessions in the outside market. On the other hand, there is no sign of any further weakening in rates. The reduction in the re- discount rate of the Federal Reserve banks has accelerated the movement of capital abroad, where more fa- vorable terms are to be had. Au- tumn business ought to make some demand upon the banks which will hold rates steady, if it does not harden them In short, it seems reasonable to believe that for some time to come | rates are at their low and that any change must be in the direction of advance. If this reasoning i speculators for the rise in sto a new element to take into consid- eration, 722 Three-piece rail frame Living Room Suite. Combines beauty and comfort—spacious davenport, club chair and wing chair; upholstered in jacquard; all $128.50 loose spring reversible cushions. Regularly High-back Chairs for hall or $1650, SUEPEICO: . . o ov oo iiomss soiininsnans living room, of exceptional beauty. Walnut frames and covered in fine grade tapgstry, mohair or jacquard. R e gularly $16.75 $29.00. Sale Price.. Closing Out All Leonard Refrig’erators At Sub stantial Reductions Cogswell Chair—a chair for lounging and reading hours; cush. ions covered in mohairs and jac- quards; seats and backs in fig- ured designs. Regu- $44.50 larly $65. Sale Price N D77 Worth-While Savings Now A REMARKABLE refrigerator offering, si- multaneous with our August Sale of Life- time Furniture—including the famous Leonard Cleanables, all-white porcelains, ash and oak porcelains—efficient white enamel-lined front and top icers, Leonard Polar Kings and others—all at substantial reductions for quick clearance. 7 2 2 Only 50 of these $7.00 bedroom rock- ers, beautifully finished in $2 69 > walnut, to be sold for. ... Only one to a cus- tomer. No telephone or mail orders—First come, first served— sale until sold. Practical Styles Are Equipped for Electrical Refrigeration / Extra large family-size Refrig- erators. Solid oak case, white enamel linings and three wire shelves. R e gularly $18.50 $31.75, Sale Price... Large, handily arranged Kitchen Cabinet with full set of glassware, Can be hadsiir; thml‘ ggéér nag Regularly . ale 7 = . ’ Price .ccccveeconnne 35 Different Styles and Sizes - ? Baltimore Market, i . L 7 Leonard Top Icers, 50 Ibs., white enamel lined. .. .......$24.75 & ) 13 Leonard 3-door Front Icers, 50 Ibs., white enamzl lined. . . $31.00 2 Leonard 3-door Front Icers, 75 Ibs., white enamel lined. . .$33.50 7 Leonard 3-door Front Icers, 50 Ibs., porcelain lined. . ....$35.75 18 Leonard 3-door Front Icers, 75 Ibs., porcelain lined. . ... .$44,75 19 Leonard 3-door Front Icers, 100 Ibs., porcelain lined. . . ..$53.75 2 Leonard Ice Chests, golden oak finish.................$39.75 I e, ot i 9 Lecnard Cleanables, porcelain lined, 75 Ibs. . . + 978475 ppeshoeseloig S o e, 4 Leonard Cleanables, porcelain lined, 100 Ibs., 2-door $67.00 : : t 1 Leonard Cleanable, cak, porcelain lined, 75 Ibs. .. .....$113.50 " 3 Leonard Cleanables, all white porcelain, 2-door style, 50-Ibs. capacity : s s AP0 12 Leonard Cleanables, all white porcelain, 50 Ibs. .. ......$135.00 6 Leonard 3-door Front Icers, 100 Ibs., white enamel lined. . $36.00 2 Leonard 3-door Front Icers, white enamel lined, white exvetior, 750bs. .. ..., e 2 Leonard 3-door Front Icers, white enamzll lined, white exterior, 100 Ibs, 1 Leonard Cleanable, all nominal No. 3 1.050 Fiber Baby Stroller of ex- tra size; has adjustable ve- clining sleeper, continuous pusher and large rubber tire wheels and is nicely uphol- stered threughout; $9.75 Under week the easier stock sto more white and only met h and ordin liberal receipts Dotato mark well grad tai 77777, regularly Sals price. . ne Porcelain Top Table, with awer and two strongly made bow- kitchen chairs. Entire e pieces; regularly S10. $& 75 i The latest idea Priscilla price Sewing Cabinet, finished in mahogany or colors; regularly $7.50. 54.75 Sale price while N 15 10 qu Sale to 1.75 lity an More careful grading command top prices, as man current receipts of mixed st and all such has to be sold at N Garden Truck Prices and ) 69.75 green Leans 3.0024.00 1 4 30044 100 field corn. 40050 basket 5 basket; onions, wers, 75a1.25 bas 50a75 basket; tomatoes and 40250 bushel for bushel; beets 2.0033.00 10¢ corn Large size fiber Baby Carriage with full tubylar pusher, large rubber tire wheels; nicely lined and has _separate windshield; regularly $23.75. 514.00 Sale price...... These extra large Buffet Mirrors have polychrome frames with orna- mental top and dainty designs etched in glass; regularly 56.95 And Others MAYER & CO. Seventh Street 7 2 $12.00. Sale price........ iberal supply ly rules eds) ns This 50-1b. ice capacity Refrigerator has solid oak case, two wire shelves and white enamel linings; very economical fee usor; regu- oy $12.95 Sale price Console Table of unusual construction, with poly- chrome frame mirror to match; finished in_various colors and combinations; regularly $9.75. Sale price . Between D and E, are in lizht rece offerings of t .. ompt and it ‘JRNITUP} “sable the comi z we ®ltuation is favorable, ire ad while the | The markes e