Evening Star Newspaper, October 9, 1927, Page 33

THE SUNDAY STAR, WASHINGTON, D. C. OCTOBER 9, 1927—PART 1. e STOCKS GO LOWER IN'SHORT SESSION Further Liguidation of Steel! Shares Reflects Disappoint- OIL PRICES STEADY. IW YORK, October 8 (#).—Steady es for crude petroleum and gaso-| p. 5 peevaileds thel lasts wedl cridal . Tt —kne s CUAGRStGE whSS de z oil prices at the well averaging $1,341 | ruled Europe for so long, has had on¢ i R e i i last | lsting effect. It has more or. lest ars were aggressive early. | vear at this time, int and | qrive " ® but’ found buying_resistance unes: |Drug Reporter. Crude oil production | (1 ven the matron of mature years of pectedly brisk. Frost reports were | this vear to October 8 is put at 705, | the dance floor. ignored. More attention, though, wa. ),000 harrels, against 565,808,000 a Dance dresses, as designed by Paris given to an official flv(\rv(*ast of unwel-| year ago. | ave therefore become notably young come rains next week. x Brustilanal sHowCH Abnmesst an al e |er. They are aimed stratght at 18 an¢ grades in fresult of scattered buying | Government home economics experts | choose colors and materials suitable 1d to ag “'\0 designed Summer garments for | for the very young. Tulle is the Pa Which will enable them to | risian favorite for dancing dresses 8 —With high-| from Canada and of f 1te 500,000 bushels. Considerable L yrted as | dian receipts to he as heav. -Inotice, too, was taken of estimates| One-third of the moving pictures | zct the benefit of the sun' Wi | it and.lots AL frills and many thicknesses, cents pected. Relative firmnes: Liver- that rains rendered 8,000,000 pool was that the would show a 000,000 the wheat mar- ncing tendency in and Tulle Predominates. rrespondence of the Associated Pre for immediate deliver. ket developed an ad today. Further advices of snow likely to impede bushels, compared with thr ing and to spoil the qual of [ 162,000,000 bushels last year. Besides, WHEAT VALUES RISE; CORN BEARS ROUTED wh were at hand. Closing quota- |the United States Government tions here on wheat were firm, 1% cent | report to be issued Monday - : _lto % cent net higher; corn was un-|pected to indicate some curtailment of Small Grain Quotations Show Mod | changed to %, cent up, oats at 4 cent | last month's official estimate of domes- erate Advance in Sympathy to 1, cent advance and provisions un- | tic Spring producticn this season. changed to a rise of 5 cent Signs of good milling demand for With Higher Winnipeg Prices. bushels of wheat in Kansas unfit for, milling, as well as causing delay to| seeding operations, so that there is now a possibi ssoctated with predictions | 7 Australian wheat crop | | |B!G FRENCH WHEAT CROP Yield Is of Poor Quality, However, According to Expert. Correspondence of tha Associated Press. 927 wheat crop cient to supply her lculations vield of only about | will be almost su d2mands if the ¢ Picot, agricultural prove correct. He e. at 253,000,000 bu: against 192,- 000,000 last year. This unexpectedly fine result he attributes to the use of new varieties of seed wheat. But for the bad Summer he is convinced the | Liverpool quotations higher than|red Winter wheat contributed to the due supplemented today in the Chi-f=zeneral upward trend of wheat values. | cago wheat market the bulli ases of red Winter of continued adve Wi icago this week were By th. Associated Press CHICAGO, Octoher grade wheat 1 Winnipeg re commanding a premium of piaying outdoors, ing Fall Trade. By the Associated Pres NEW YORK, October 8.—The stock | market worked steadily lower in to- day’s brief session until just before the close when a series of bullish detige | strations in a few specialties induced sufficient covoring elsewhere to wipe out or reduce many of the early de- clines. Final quotations were mainly toner, with the declines running from 1 to 8 points. ading was fairly saavy, total sales crossing the million thark. Hutside the stock market, chi»f Yerest centered in the brisk ri about $2.50 a bale in cotton future publication of the Government condition report and the further sance in storling to above $4.87 Digh record since Decembe Sale of dollars and purchase of s Jing was believed to reflect the tran: fer of American capital to London, Where higher interest rates are avi able. Attention to Mexi Speculative Wall Streat disposition today to more tion to Mexican news and its effect on securities companies with prop were under pres: | Copper b re than 4 points | and then re half its loss, while | prican ng fell back | companies operating | in of on crop ad n News. showed a atten- sible s in Mexico | oil =outh of the Rio fractionally, but they had been rather thoroughly liquidated previously be- cause of the dispute over the land | laws and oil royalty rights. Further liquidation of the steel shares reflected the disappointing character of Fall business to date| and the waning hopes of traders who had looked for a resumption of divi- dends on Bethlehem Steel common | this vear. Oils also reflected the un- settled conditions in that industr new 1927 lows being recorded by Mi continent, Pan-American Western B., Phillips and California Petroleum. Tidewater Oil preferred jumped 4 points, however. Cuban su were heavy on reports of a large European crop, Cuba Cane and Punta Alegre [!! sinking to new lows for the year. Public _Utilities presented several points of strength, American Tele- phone, Abitibi Power, Montana Power and Engineers’ Public Service com- mon and preferred, all reaching new high ground. Columbia Gas & Elec- tric was weak, selling down about 3 points. United Drug was the out- standing strong spot among the spe- soaring more than 7 points Sterling Has Rise. Apart from the rise in sterling, there were no changes of importance among the leading foreign exchanges. The weekly clearing house state- ment showed another deficit in re- serve; this time it was $10,425,530, against $23,772,560 a week ago. Ag- gregate reserve was $604,741,000. The detailed statement of actual condition this day showed increases of $2,029, 000 in cash in own vaults and $56 000 in time deposits, but decreases in all other principal items. Loans, dis- counts and investments dropped $134,322000; reserve in the Federal Reserve Bank of member banks, $13,- 007,000, and net gdemand deposits, $199,650,000. & BOND LIST IS STEADY; FOREIGN ISSUES SOLD Erie Refunding 5s Again Favorites Among Buyers—Polish Obli- gations Are Easy. By the Associated Press. NEW YORK, October 8.—Although week end profit taking today caused a balt in the march of many bonds . imto new high territory, the list as a ‘whole was steady, and one or two of the outstanding leaders of the past ‘week again improved their previous /best prices. With money conditions still ea: and with the relatively small aggregate of $76,000,000 in new issues offering limited competition, there were no developments to bring about any general softening in prices. <Realizing was mmost extensive in certain foreign securities which have been buoyant recently, including Ger- man and Italian issues. Polish 8s and 6s were easy in consequence of the conflicting _reports concerning the prdposed $70,000,000 loan to the re- public. Erie refunding 5s were again among the buyers' favorites, a rather large amount changing hands as high as 973, the best price ever attained. The issue closed at 97, fractionally higher than yesterday’s best figure Rock Island 4%2s duplicated their previous | peak, but later softened. Some of the Baltimore & Ohio liens were slightly lower. ‘There was fair demand for Gulfl Btates Steel 5 but industrials, as | well as public utilities, were gener- ally quiet. Buying of Pressed Steel Car 5s appeared to have run its course, for the moment at least. United States Government securites were irregular and dull FOREIGN STEEL MOVING. NEW YORK, October 8 (@).— Foreign steel is becoming more firmly established in the Philadelphia w: house market, says Daily Metal Trad Importers find it difficult to sell more than 25 to 50 miles from tid; er on | account of freight rates. The 1'>zhiv a with contract price around ranging from ville ovens. Th ket is becoming more firmly lished at 17.00, base furnace. . BUYS BRITISH TIMKEN. estab- | was viev nde vielded only (1o crop would have bren nearly 000 bushels. 1t will still be nect however, he says, to import a ¢ amount of foreign -vheat to make up for the defective quality of the native product. ORDERS MODERATE INSTEEL INDUSTRY Better Export Demand Helps Develop Firmer Tone to the Copper Market. By the ed Press. NEW YORK, October 8.—Efforts to interest consumers of steel during the past week on a larger scale than recentl ently proved unsucess- ful. Pratically all reports told of a centinuation of moderate orders, which inting for this e - year. In some instances shading being done on s for shipment the I quu Some of the larger r: were placing orders for de- ¢ next vear and actual contract as well pending busine . estimated around 300000 tons Piz ivon was dull and prices were unchanged An improved export demand was helped to develop a firmer under- tone ‘in the copper market. Recent ngs at concessions appear to have heen absorbed or withdrawn and while demand for home consump- t 1s remained quiet, a better in- iry is regarded as pointing to an| incroased business, probably after the publication of the monthly statistics There is a feeling in some quarters that the latter may show a small de- but that ¢ an in- se in Dblister. Producers general- Iy are reported firm at 13% for elec- trolytic delivered. Tin prices ad then reacted slightly tions abroad and an increase in the world's visible suppl: caused the firmness. Smaller Straits shipments for October werc being an- ticipated. Lead was easier in tone owing to an unsettled price situation abroad. Mine production of lead was re- ported to have been reduced in sev eral districts of late, Domestic inquiry was fair. Zinc was slightly easier at the be- ginning of the week, owing to a moderate reduction in the ore basis and a rather light consuming inquiry Later the market was steadier, as producers were unwilling to press sales. Antimony averaged firmer for both spot and futures and the renewal of gressive civil war in China, with the uncertain stock situation, proved to ho the principal factors. FIRE L0SS COST 5 BORNE BY ALL Sustained Prevention Effort Could Safeguard Lives and Save Much Money. sharply and Higher quota- xpected small anced tl BY W. E. MALLALIEU. (General Manager of the National Board of Fire Underwriters.) By the Associated Press. NEW YORK, October 8.—In the past few weeks I have received liter- ally a flood of communications from officials in every conceivable type of indus: numerous large railroads and power companies, manufacturers, fire departments, chambers of commerce, municipal offices, educational institu- tions, business concerns in general and social and patriotic organizations of every description located in all sec- tions of the count who ave all co- operating in the service of promoting fire prevention ork throughout the Nation at this time. These communi- cations contain assurances of co-opera- tion which show the true spirit of America when it is aroused to a real- ization of a great truth. If this great’fire prevention work could be sustained throughout this year and the greater part of next, so that public interest and continued public care would not easily wane, I would warrarit that the appalling cost of $360,348,000 in property losses, to- gether with the toll of 10,000 lives lost in fires—s6 per cent of which are pre- ventable—would diminish 50 per cent or more. Would Enhance Credit. Not only would this sustained effort be a means of safeguarding lives for years 1o come and of preserving their potential vaiue as well as of protecting property, but it would also enhance national 5. that greater pr perienced and 1 in the Nation. If we could oc- ally stop to analyze the circum- of this unfortunate situation of s occurring each year and ask who reaily pays with the price of life and money for them, who really car- rit ary burden, we w uul‘fl to statistics and ftind that wom™ children, the aged, infirm and confined to public institutions ke up a substantial number in the il considering losses due to fire. o) star the vast financial I would point out NEW YORK, October § (#).— imken Roller Bearing Co. and M. [ of London, England . Dewar have | zht from Vickers, Ltd. all capital | stock of British Timken, Ltd., giving | Timken full control throughout the | world of the manufactur 1 of ken bearings. Mr. De: nagement of British Timken | * s Until recently aging director of Me riage, Wagon & Fi Ltd.. of Birmingham, & corpor: with capital of $50,000,000. | he was man- | ropolitan _Car- COTTO—N GOODSv STR(SNGER. NEW YORK, October 8 (#).—Cotton goods markets strengthened on the | cotton report Government, but on a short day trading showed little change in volume. Raw silk was 21 cents a pound lower. Wool goods were in modest demand for filling-in needs. The largest lines of woolen coatings and suitings for Spring will be opened Thursday. The carpet and rug auction closed strong. OPENS THREE STORES. NEW YORK, October 8§ (#).—Two is Jlic_opinion that in- porations bear these losses. inkurance company is but an agency for disiributing the premiums which the public pays to cover los the public itsel? s the amount it pays in- ompanics, according to the manner in which the people increase or decrease the fire hazards. Relieve Fire Distress. Insurance companies are to fire and e Red C They relie upon collections the public in general to equalize finances. Industries and mer- chants who pay large amounts of in- surance premiums must make up this premium loss by taxing it as part of the sale price of their commodities, so0 that it is the ultimate consumer of he goods passed on to him through ous channels of trade who ulti- ¥s the cost of insurance in To me the most tragic is that the L insurance expenses thus handed down through trade to hoth rich and poor alike is mostly the result of unnecessary public careless. ness responsible for large hazards and additional five and ten cent stores and one 25 cents to $1 store, have been opened by 8. 8. Kresge Company, a Qotal of 414 stores in operation. the consequent proportionately high rates which business.must pay for financial protection. K AUFMAN N’S £ 4 # 5 made in Germany are short comedies. | H S TREEE L N. W. \mf Kaufmann’s Repeat Their Famous Vacuum Cleaner Sale $2975 Domestic Vacuum Free ThisIs the ‘Domestic’ Vacuum Sweeper Given Away to Every Purchaser of a Complete Suite of Furniture MADE IN U EXCLUS OF AMERICA IVELY FOR KAUFMANN'S ASSOCIATED STORES MATERIAL: Fan case, fan motor housing and nozzle are built of die castings—aluminum and silica, a light strong metal especially practical for a vacuum cleaner. MOTOR: General Electric the best that money can buy. Horizontal air-cooled type, set low for cleaning under low furniture. Only two IOVABLE NO?Z R ZIE:: places to oil. A most attractive feature. May be taken off instantly and replaced by the attachment connector, DUST BAG: At the right of the handle, beyond the reach of a woman’s skirt. Heavy material, espe- cially woven to filter the air and retain all dust. An in- ner sleeve pre- § vents dirt from falling back into the cleaner, You May Purchase This “Domestic”’ Electric Sweeper for Customers who desire to purchase this guaranteed sweeper, including all the at- tachments, may do so at the very low price of $29.75 and pay for same on our conven- ient Budget Payment Plan without added cost for the convenience. $29.75 FREE When Purchasing a Suite of Furniture Your Living Room May Be Handsomely Furnished With This Elegant Jacquard-Covered Suite form the most commonplace and Genuine Mohair covered, with joy. Three magnificent, perfectly matched pieces that will trans- ving room into a place of comiort moss-edge trimmings, mahogany finished wood back rails and fronts, reversible spring cushions and spring cdge. Settee, armchair and club chair. 18 Months to Pay for your home—inspect this 10-piece Suite of genuine wal- nut veneer on gumwood—antique finish. As table, buffet, server, china cabinet and six genuine leather seats. sketched—a chairs with *159 18 Months to Pay 18 Months to Pay It is so much more convenient to pay out of income and not touch your savings when buying furniture—and when Kauf- mann’s allows you 18 Months To Pay this feature of our service takes’on added interest. aufmann’s STREET N.W. 1415 H INgy TWENTV-QNE EC T ammy All the Lry of Two Rooms at the Price of One —this suite provides that—a bed-davenport, armchair and club chair richly upholstered in two-toned Damask cushions are spring constructed and reversible. A beautiful suite for lasting service. One of the most attractive things about this modern suite is the design, ily distinctive and harmonious. i s laid the rich grained walnut veneers. The drawer bottoms are of mahogany and all joints are dovetailed. Dresser, ornate chest of drawers, which is unusu over which solid panel wood bed and vanity. jacquard velour with spring edge. $ 1 6 18 Months to Pay Gumwood is used as a base $ 1 4 18 Months to Pay Colonial 4-Post Bed Kitchen Cabinet $39.75 In homes when efficiency in the kitchen is the order of the day—you'll find the McDou- gall "Cabinet. The model sketched complete in _its time and labor-saving fea- tures. Budget Payments w 6 Coil Bed Spring $9.85 This style of bed spring with its 90 resilient coil springs is one of the most comfortable and restful types made. Budget Payments type in 3 ft. 3 in. or 4 ft. tive and well made. gate-leg table. Made with gracefully turned legs and solid mahogany top. $29.75 Choice of mahogany or alnut—true Colonial $39 Here is the chair for comfort, with its deep spring-filled cushion and soft upholstering. The frames are in rich walnut color. Covering of tap- estry. in. sizes. Very attrac- Budget Payments Budget Payments / —_— ..T‘ = THER 12 M 2 v A e 2! Solid Mahogany-top Gate-Leg Table $17.95 A stylish and practical —— Felt Matress $8.95 A comfortable mattress of all felt, with attractive covering. In sizes to fit all beds. Budget Payments Budget Payments Volume buying for 21 Kaufmann stores throughout the country brings incomparable savings to Washington housekeepers, brides and others with a need for furniture. CIFETTES ()