Evening Star Newspaper, November 7, 1928, Page 13

NEW CURB RECORDS FOLLOW ELECTION Rush of Buying Orders Sends Prices Upward—Utili- ties Strong. BY WILLIAM F, HEFFERNAN. Special Dispatch to The Star. NEW YORK, November 7.—Strength of practically all classes of stocks on the .Curb Exchange today was taken largely as an expression of satisfaction over the presidential election results. The market opened under a rush of buying orders, which carried many is- sues into new high ground, with the oils and utilities favored. New high records were marked up in Vacuum, Humble, Standard of Ken- tucky, Prairie Oil & Gas, International Petroleum and Imperial Oil of Canada, gains ranging from 1 to 4 points. In almost every instance there was the prospect of special consideration of stockholders &t coming meetings be- cause of changing conditions for the better in the industry. Gulf Oil was a feature among the independents, re- cording an, opening gain of 7 points. Among the utilities United Gas and Improvement and Electric Bond and Share Securities were prominent, the former making a new high up almost six points and the latter up a like smount _on opening block - of 10,000 shares. Northeastern Power was bid up substantially and the same was true of Electric Investors and American Super- S ors were led by Henney Mator, W se 3 points to its best at 50, while Stutz went to a new top for the year above 34. & Opening on a block of 4000 shares at a new high of 537, Rainbow Lumi- nous maintained its leadership among the industrial specialties. St. Regis Paper continues its upward movement and special strength at new highs were noted in Libby-Owens, Filens and Mas- sey-Harris. OHO'S MAJORITY REACHES 600,000 G. 0. P. Governor Assured and Two Senators by De- cisive ‘Margins. By the Assoclated Press. 1 COLUMBUS, Ohio, November 7.— ‘Herbert Hoover's majority in Ohio over Gov. Alfred E. Smith reached ap- proximately 600,000 when returns from 85 per cent of the State had been tabulated today. The President-elect's majority swelled with each additional batch of precincts. Myers Y. Cooper’s majority for governor over Representative Martin L. Davey, Democrat, had swelled to 243,000 on returns from 80 per cent of #ne State. The remaining precincts, imore than 1,700 in number, were ex- pected to increase his majority. In 7,572 precincts out of 8,990 Hoover has 1,314,890, Smith 720,059; 7246 precincts give Myers ¥. Cooper 1,107, 131, Martin L. Davey 864,515; 7,059 precincts, give United States .Senator (full term)—Simeon D. Fess 1,050,433, Charles V. Truax 698,746; 6,992 pre- 2incts for United States Senator (short srm) give Theodore E. Burton 1,047,- 194, Graham P. Hunt 660,902. “REVOLT” OF TEXAS BECOMES REALITY fuse to Admit Defeat in * State, However. By the Associated Press. * DALLAS, November 7.—The threat- ened revolt within the Democratic ranks of this previously rock-ribbed State, scoffed at by party leaders before yes- terday's election, was a grim realty to- dey. Party stalwarts awoke to find Her- bert Hoover leading the way for the State’s 20. electoral votes, which never have been cast for any but a Demo- cratic candidate. ‘With yesterday’s unprecedented elec- tion vote more than two-thirds tabu- lated early today by the Texas election bureau, the Republican nominee led Gov. Smith by 8,141 votes. The next President’s total was 236,936; Smith's, 228,775. Refuse to Admit Defeat. An estimated 200,000 votes remained uncounted and Democratic leaders, though rocked by the upheaval, refused to admit defeat. They contended re- turns now in were most of the Hoover strongholds and that the 39 unreported counties and 200 incomplete counties would swing the vote back in line. Hoover's lead was considered so small he overnight accumulation of e ght easily wipe it out today, elthough the President-elect late iast night exhibited astonishing staying qualities. Moody Blames Raskob. Gov. Dan Moody, who was re-elected by a wide majority, issued a statement last night in wpich he placed blame for Smith’s lack of support on the Demo- cratic national committeeman, John J. Raskob. Moody praised Smith, whom he cppesed prior to the Houston con- vention, Fourteen incumbent Democratic Rep- resentatives were returned, while three new Democrats were seated. Defeat seemed likely for Harry M. Whnrzbach, Texas’ only Republican Rep- resentative, from the fourteenth district. Democratic opponent, August Mc- Closkey of San Antonio, held a substan- tial Jead. Representative Tom Connolly, Dem- , was chosen Senator by a hand- majority to take the seat of Earle . Mayfield, whom he defeated in the August primary. MISSOURI BONDS 0. K.'d. Voters Approve $75,000,000 Issue for Roads in Partial Returns. ST. LOUIS, November 7 (#)—The proposition for & $75.000,000 road bond issue in Missouri had an affrmative majority of 50,695 in returns tabulated today from more than one-fourth of precincts. The measure re- arly a 2-to-1 majority in St. Louis City. Propositions for St. Louis police pen- stons and increased in State legislators’ pay were trailing, and the pension pro- posal apparently was defeated. CHICAGO STOCKS GAIN. CHICAGO, November 7 (#).—Follow- n the wake of the New York Stock Chicago stocks likewise scored at the opcning today, heavy buying on the strength of the election NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office Following is a list of stocks and bonds traded in on the New York Curb Market today: Sales INDUSTRIALS. in hundreds. High. 6 Amer St 81 Amer Superp A 18 Amer Superp B 7 Anchor Post Fen 7 Anchor Cap .. 4 Anglo Chil Nitra'. 7 Apponaug Co. 1Brit-Am T¢ 17 Brit-Celanese Lid. 1 1 Gurtis Pub........... 27 Curtiss Flving Serv.. 2 Davega Inc.... 2 Davenport _ Ho: 0. 8 Dura 3 East 5 Eaton Axle. 323 El Bond & 82 El Invest Inc.. 1EI P&L optl war 1 Elec Shovel C pt pf 18Evans E S Ldy. 18 Evans Wall Lead 190 Evans Wall Lead 8 Fairchild Aviatn A. a8 uue sl 22 35! 28 Mohawk Hud Pow. ¥ Mob Hud P 2nd. Dl lf 1 Mohawk Hud War. 18 Municipal_Serv . 1 ub Ser. s 372 113 50% 1 Wor 2 Zen 9 Zonite les S randreds. 3 Carneaie Matals. 4 Cent Am Mines 14 Gom Tun & Drain 23 Cons Cob Mines i L 20 s L. 3% MINING STOCKS. 3 Dolores .. 200 Falcon Lend Min 32 Golden_ Center 1-Hecla Min Sales INDEPE: in hundreds. 2 25 Am Oon Ofl7ds . 4 Am Maracatbo . 50 deb Tis 1 Brit-Am Oil 28 Carib Synd . 139 Cittes Serv n' 1 Columbia Synd ", of Herbert Hoover hoisting practically all issues at the start in the most active wmarket in months. T 11 Venezuelan Pet , Low. Noon. aceuiiy EmEEE FEE 325! SIS fiag'.f:?.:ar:fi;s - i 90 5% i 208 20 341 4% n 2o 2 Sales STANDARD OTL ISSUES AND. 1 it TMER SUSSIDIARIES ~ST 200 Atl" Lobos ‘ptd . 100 Buckeye P L 5400 Contl _ O] 6100 Rumple " O R- S. 3 Neb 6500 Vacuum Ol BONDS. thousands. 48 109% 8 ' 81 18 Abraham Strauss 19 Abitibi P&P 5s A. D. . WEDNESDAY, NOVEMBER 7, 19%8.° [EATHEROUTUT INDELSTS STABLE Tanners Declare Industry Has Reached High Point of Efficiency. By the Assoclated Press. NEW YORK, November 7.—Tanners say thelr industry, after experiencing a period of rising prices and difficulty in obtaining raw material, has reached a level of greater stability than ever be- fore in its history, with the curves of cost and production, after violent up- 98 2 | swings, flattening out for 1928. Cons "Pub_6%s. 2 Contl G&E 58 A 13 Cudahy 55 . X e 2552 Sgesity »{a‘u‘fflis?’yi‘ & SR 2 - BB ississmmn i - ¥ SREEEas Q 0% R N L ot Fpeh) b .. 9 43 23225 wZ3 058 £ 533, 4 " - 5 FE BER R T 3 oeZpsSeeEashs 592, 2 o, - ‘| 2 %, ‘et EEF RR 385 o ) 2 PRy UL s ¥, S oot 25 g 5= = e paszsesenes 3 ®on, X n: 03 075 A0k 1 €T Tt e N e aacaccageenng! wnnnnnn 2 ] o 23! < 5 3 Py "o 93 5 Rio Grande 97 3Russ Gov 5las ofs n 14! s uss Goy 6las cfs n_14le rog 10074 1007 9 fa Lia 6. 80k RUR 2 AN i %%. §fl": tin _H . 3§ gl L saw 8. Peiidena ratel n issued. B Wi warrants. COTTON IS STEADY AT INITIAL PRICES Slight Declines Brought About by Southern Selling and Liquidation. By the Associated Press. 7 NEW YORK, November 7~—The cot- ton market opened steady today at a decline of 1 to 7 points under a renewal of pre-bureau liquidation and Southern selling. Traders scemed to rny little attention to the comparatively steady showing of Liverpool. ‘There was favor- able comment on the weekly report of the Weather Bureau and offerings in- creased after the call. December. sold off to 18.88¢and May to 18.68, making net declines of about 16 to 17 points. Prices were within 3 or 4 points of the lowest at the end of the first half hour. Liverpool cables reported continental buying and covering in the Liverpool market influenced by reports of rains in the South and seid there was a fair inquiry for cotton cloths, although, many offers were impracticable, Quail Die of Thirst. Dr. Joseph Grinnell, ornithologist, of California, believes that lack of water explains the disappearance of quail in many parts of that State. He has made investigations and finds that areas for- merly supplied with water are now dry owing to climatic changes and reclama- tion work and have become uninhab- “|itable as nesting grounds for the quail. Dr. Grinnell does not believe that vermin has accounted for the disap- r::rance of the birds so much as the k of water, as the species of wild birds and animals designated as vermin also have become scarcer during re- cent *years in the same area. Young quail “which are hatched more than 400 yards from water and where rain does not fall or heavy dews occur shortly after they are hatched will die from thirst, says a bulletin of the American Game , Protective Associa- tion. o — Build Oven for Giant Pie. A huge brick oven was bullt in a dis- used corn mill near Hudderfield, Eng- land, so that the village of Denby Dale hight surpass all its previous efforts in making giant pies. The pie dish, made locally of earthenware, was 15 feet long, 4 feet wide and 18 inches deep. The pie contained beef, mutton, kidney, tatoes and plenty of gravy. About 0,000 people rlrtmk of the pie. On the occasion of the last previous Denby Dale pie, in 1896, more than 60,000 peo- ple visited the village, which has a population of 1,500, A pie made in 1887 went bad, and was by horses to a wood and buried in quicklite, Spencer K. Mulford, president of American Leather Producers, the in- dustry’s . clearing house for trade in- formation, estimates that consumption of cattle hides, from which much of the American leather is made, is run- ning 10 per cent above the 1924-1926 average and well above last year's. Imports of Hides. However, hide supply, regarded as a mercurial factor because demand for meat determines the number of hides taken off, has lagged behind consump- tion. Imports of hides, mainly from South America, have made up the de- ficiency caused by a decline in about 500,000 animals in the 1928 Federal- inspected cattle slaughter, and such 1m- ports are about one-third above those of 1927. Prices of domestic hides during the first nine months of 1928 were about 30 per cent above 1927 and about 60 per cent above the average for the three preceding years. Foreign hides arc said to have cost tanners nearly 80 per cent more than in the 1924-1927 period, owing to buying by other countries and a reduced take-off in Argentina. South American hide prices eased somewhat, but are about 40 per cent above the 1924-1926 average. . One result has been the increased use 'of substitutes for lower-priced shoes, although all-leather construction still is used for quality shoes. The tendency is not a new one, it was explained, with public demand for quality always bringing the situa- tion back to normal. Domestic Yield. ‘Tanners of calf, kid and sheep skins have been affected by a declining do- mestic yleld. Imports have increased a third, and prices have ranged more than 30 per cent above 1924-1927 average. Purchases of goat and kid skins have run nearly 10 per cent above last year, most of the supply being im- ported. Sheep and lamb skins, the bulk of which also are imported, have been obtained at a cost slightly above that of last year. Generally production of leather goods in the United States, the world's largest user of leather, is increasing. SOCIALIST EXPECTS WEAK DEMOCRACY Decline of Major Party in Fa- vor of His Group Predicted by Thomas. By the Assoclated Press. NEW YORK, November 7.—Norman ‘Thomas, Socialist candidate for Presi dent, tofay viewed the overwhelming Republican victory as a “long step” toward the disintegration of the Demo- cratic party and the rise of the So- cialists as the principal party of oppo- sition, ‘Thomas said the Socialist vote here exceeded expectations and indicated in- creasing strength. He received 48,179 votes in the city after predicting that he would get 45,000. The party’s na- tional headquarters had no figures on the voting elsewhere. “I don’t think Gov. Smith was de- feated by the religious or any other one issue,” the Socialist candidate said. “It was a complex of force. Regard- less of his religion or Tammany Hall, he wouid have lost. “The wet and dry issue, of caurse, also entered into it, and in addition to that there was what might be term- ed an anti-New York feeling in many parts- of the country.” “At any rate the eléction was sats- factory from the Soclalist standpoint because it resulted in shattering defeat of one of the old parties. It made no difference to us which one lost, as long as it lost decisively. I predicted Demo- cratic defeat because it seemed to' me the Republicans were better organized.” WHEAT PRICES DROP IN EARLY TRADING Selling Is Laid to Bearish Crop Reports From the Argentine Republic. . By the Associated Press. * CHICAGO, November 7—In contrast with the New York stocks, the wheat market today went downgrade during the early dealings. Selling which brought about declines in price for wheat was ascribed largely to the bear- ish outlook for the wheat crop in Ar- gentina. Opening at 5% decline to i ‘advance, wheat values soon underwent a_material setback all around. Corn, oats and provisions were firm, with corn starting unchanged to % higher and subsequently holding near to the initial range. Although election results were eager- ly discussed today by wheat traders, no traceable influence of political news I was apparent in the wheat market. On the contrary, prices mede an uncertain start and then took guidance to a great extent from dispaiches telling of improved wheat crop prospects in Argentina, especially word that rust damage reports were untrue. There were also advices that European. de- mand for wheat from North America continued of only moderate volume. Rainy weather over the corn belt un- favorable for husking and for the move- ment of new corn gave an upward trend at times to the corn market. Besides, arrivals of corn in Chicago today were relatively small, 191 cars, and were also meager at other leading centers. Total receipts of corn here today com- pared with 312 cars a week ago. G. 0. P.GETS D~ ';AWARE. Hoover’s Lead 30,. -—Bayard Is Beaten for Senate. WILMINGTON, Del., November 7 (). —With only seven districts missing, Herbert Hoover had a lead of 30,871 over Gov. Smith in Delaware today. Returns from 212 of the 219 districts gave Hoover 63,735 and Smith 32,864. The lead of John G. Townsend, jr., Re- publican, over Senator Thomas F. Bay- ard for the Senate was 20,303, from the same number of districts. 8 C. Douglas Buck, Republicay, won the gubernatorial election by more than 22,000 over Dr. Charles A, Wharton. Radiator glycerin mixed with a little lamp black makes, it is said, an excel~ lent dressing for spare tires. A - U. S. CIGARETTE OUTPUT IS SHOWING INCREASE By the Associated Press. months of 1 is expected to exceed 100,000, NEW YORK, November 7.—Domestic cigarette production is estimated to be running more than 8 per cent ahead of last year's, based on the first nine and the year’s output 000,000 be learned, is such a reduction ex- cigarettes, as. com with some 917,000,000,000 in 1927. Production, however, seems to be of leaf tobacco and retail sales prices. Reduction in prices, which early this year enabled some chain stores to put popular brand$ on a “two packages for a quarter” has not becn made by all manufactufers, nor, as far as can worrying manufacturers less than costs | N pected. Prices of leaf tobacco, raw material for the manufacturer, ap- parently have shown no signs of seek- lower levels, and producers say that until they decline mo general re- duction y be expected in the price of finished cigarettes. It is pointed out that a slump of 1 cent in leaf tobacco prices would sean a $3,000,000 saving for the cigarette manufacturers on the basis of 100,000,~ STOUT HEARTED WOOLENS CAN GET ALONG WITH THIS MACHINE ,000 cigarettes. ———iei U. S. TREASURY RECEIPTS. Treasury receipts November 5 werg $6,815,742.39; expenditurcs, $13,426,¢ 446.96; balance, $186,782,243. — Never place a tire on a bent rim. It tests the strength of every fabric that goes into Hart Schaff- ner & Marx clothes The threads and yarns are sub- mitted to heavy tension—if they give in they're rejected But that isn’t half of it. There are friction machines that then test the fabrics for wear There are powerful lamps equal to months of sunlight that test the fabrics for fading There are all wool tests It's a long siege but it's worth it —it puts more wear into Hart Schaffner & Marx clothes Copyright 1928 Hast Schaffner & Marx RALEIGH HABERDASHER 1310 F Street