Evening Star Newspaper, September 8, 1927, Page 13

NAVL STORES NN " PLANORGANENG TTurpentine and Rosin Prices Drop and Makers Seek to Stabilize Trade. BY J. C. ROYLE. Bpecial Dispatch to The Star, NEW YORK, September 8.—Pro- ducers of naval stores are organiz- ing. The drop in the prices of tur- pentine and rosin has convinced them that the industry cannot go on with- out some effort on their part to stabil- ize condition: More than 00 distilling plants, large and smal, scattered over eight States, are en, in this industry. + Production of turpentine and .rosin has been heavy, but consumption has not kept pace with the rapid develop- ments of the industries in which naval stores are used. These include the Wall Street Briefs NEW YORK, September 8 (#).— Forecasts of the probable figures to be disclosed next Saturday in the United States Steel Corporation's re- port of unfilled tonnage as of August 31, have taken a complete reversal, Jatest estimates indicating an increase of about 100,000 tons. Substantial im- provement in demand is said to have developed in the closing days of August, slightly offsetting a previous loss in bookings compared with de- liveries. The difference is expected to be made up by month-end adjust- ments. Amerlcan Hide & Leather improved its financial condition in the first half of 1927, with net profit of $88,443, equal to 88 cents a share on the 7 per cent preferred, in contrast to net loss of $148,037 in the first half of 1926. The iron and steel industry appears to be regaining its morale and the market generally is looking better, says Iron Trade Review. Steel mak- ing operations are averaging just over 70 per cent with a slightly upward tendency. Bethlehem Steel is report- EVENING STAR, WASHINGTON, ed to be & line on the Great | stock, after planning Fox Film Corporation will double its Eupropean business in the next 12 months, says W. F. Sheehan, vice president and gvn-rfl manager, re- turning from abroad. “This expan. sion will take place chiefly in Eng. land, Germany, France, Belgium, Hol. land and Poland. New territories in which popular demand for motion pictures has been growing rapidly in. clude practically all of southern Eu. rope.” Analysis of earnings of Kelly- Springfield Tire Co. this year indicate between $3 and $4 a share on the common stock, in comparison with net loss of $3,439,800 before preferred dividend requirements in 1926. In view of unpaid accumulations on the preferred stocks, and to provide a less unwieldly capital structure, directors are expected to take steps to recapi- talize within a year. Prosperity is noticeable all over Europe, and there is no reason why it should not continue, said Michael Friedsam, president of B. Altman & Co., returning from abroad. American Water Works & Electric earned $3.16 a share on the common accrued divi. dends, for the year. en Jull 381, net income _amounting to $5,182,605, against $3,776,807 the preceding year. Gross revenues were $3,908,197 larger than the year before. PIPE PRICES LOW. NEW YORK, September 8 (#).—A new low record for prices:of cast iron pipe is indicated in bids taken by Kenosha, Wis., for 400 tons of 6 and 8inch pipe in 16-foot lengths. National Cast Iron Pipe Co, was low bidder at $36.90 a tom, deliversd. Freight is $8.50 from Birmingham and the length carries an extra dollar a ton, so the quotation goes to $27.40 a ton, Birmingham, for 12-foot lengths. * p.” U.” THURSDAY vi- | DISCONTINUES MANUFACTURE NEW YORK, September 8 (F)— E. I. du Pont de Nemours & Co. has discontinued the manufacture of ni- troglycerin powder for small arms. Nitrocellulose will be the only type of powder the company will make here- after for use in military rifles, sport. ing rifies and pistols, List Your Rented and Vacant Houses With J. LEO KOLB 923 N. Y. Ave. 1237 Wis. Ave. Main 5027 West 74 L T T Ty FIREPLACE GOODS ONE PAIR ANDIRONS ~ REPTENEYR 'S, making of paints and varnishes, lino- leum, paper, soap, inks, greases and other products. The turpentine seas ly March 31. In the season this country produced more than $60,000,- 000 worth. If the same amount is produced in t ing se: Special at $2.00 : ANOTHER i fi £ L nds offiolal- LOW CUT PRICES Is It Any Wonder That O'Donnell’s Have the Enthusiastic Support of Thousands of Purchasers—when the highest grade mgrch?andue is obtainable, every day, at convenient, thrifty prices $1.25 Absorbine Jr. Special that pro- fall off, the return will be much Jess. ANTACID CORRECTIVE LAXATIVE i NPLPS ety was a banner But the drop e shown above, and the price of rosin has fallen fully 60 per cent. Production Heavier. There are a half dozen explanations | @dvanced for the conditions outlined It is true that production for the last geason was 10 per cent above that for the 12 months ending March 81, 1926. It is said that the introduction of the Butanol enamels and the lac- quer products with an alcohol base has had its effect on consumption in the paint industry. The demand from @broad has not been at all brisk. The growth of the wood resin, tur- pentine and pine oil industry, the products of which are produced by the steam and solvent process from pine stumps, sawdust and residue of large pine m been a factor in preventing the advance in prices. For years the depletion of the Southern pine reserves as a source of naval stores has been predicted, but this has not come about. Not only are the stumps of cut-over lands being used, but reforestation is bring- ing #n la crop of gum-bearing trees which dan be cut in 18 to 20 years. 'l;%q istillation of the hard woods, such ‘ag beech, birch, maple or oak, is threateped by the drop in price of indirsrial alcohol, which with char- cgal jand acetate of lime form the main| products of this process. Char- © ¢onsumption has been cut by the fact fhat foreign-born residents who Special at $2.75 FRIES, BEALL & SHARP 734 10th St. N.W. W. & J. SLOANE 709-711-713 TWELFTH STREET, N. W.,, WASHINGTON, D. C. “The House with the Green Shutters””. Stomach gases. Besides, it neutralizes acid iermentations in the bowels and gently urges this souring waste from the system without purging. It is far more pleasant to take than soda. Try a 25c Bottle Insist upon “Phillips.” Twenty- five cent and fifty cent bottles, any drug store. “Milk of Magnesia” has been the U. S. Registered Trade Mark of The Charles H. Phillips Chemical Company and its predeces- sor Charles H. Phillips since 1875. Hereafter instead of soda take a little “Phillips Milk of Magnesia” in water any time for indigestion or sour, acid, gassy stomach, and re- lief will come instantly. Better Than Soda For fifty years genuine “Phillips Milk of Magnesia” has been pre- scribed by physicians because it over- comes three times as much acid in the stomach as a saturated solution of bicarbonate of soda, leaving the stomach sweet and free from all $1.00 Fleet's I’Impllo_ Soda other two products are being ened by g¥nthetic production. result, ‘odtiction from wood tion has been cut 20 per cent January 1. Alcohol Overproduced. e wood alcohols still have an ad- ge over the synthetic product denaturing grain alcohol and ndering’ alcoholic products unfit for an consumption. About 1,500,000 flons are used annually for this ose, but even this is threatened ce the synthetic products may be eed on a par with the natural prod- uct for this purpose, or a ruling may make it obligatory to use something Jess toxic for denaturing formulas. New processes, however, have shown economies in costs of production as Seell as in the production of a purer #cetic acid which will meet the ad- ¥ Wantages of the synthetic acid, £ Alcohol companies, no matter from éhn source they produce their sup- ply, are the least satisfactorily situ. of the concerns in the chemical Their earnings seem likely to harply below those of 1925 or The country was overproduced year and the usual demand did /materialize for antl-freeze mix- owing to a mild Winter, | SILVER QUOTATIONS. "} YORK, September 8 ().—Bar 5%; Mexican dollars, 41%. 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