Evening Star Newspaper, September 25, 1930, Page 12

Exclusively in Washington ot THE HECHT CO. F STREET AT SEVENTH Free Parking Space for Our Customers. E Street Between Sixth and Seventh. Soriety Brand Suits 550 « . . offering you exclusive fea- tures of America’s most dis- tinguished clothing makers The NEW Staunchley Worsted . . . a rich, double-service fabric. Smooth, soft and durable. The NEW Meadowtones . . . Lark Brown, Flax Tan, Oak Brown, Brook Blue, Moss Blue, Sky Green, Rock Grey, Dawn Grey. The NEW Vac-Bloc Armhole . . . prevents bunching under the arm, and perfects the set of the sleeve. The NEW Snug-Ease Shoulder . .. which insures the snug and comfort- able fit of collar and back. Direct Elevators to the Men’s Clothing Department—Second Floor Society Brand Topcoats 340 and *50 THE EVENING STAR, WA OIL TRADE FACING | Period of Overproduction in | Industry Is Now Believed * Passing. BY J. C. ROYLE. Olls are rising above their surround- ings just as petroleum is gushing to the surface in scores of wells. There has been a period of overproduction. This is admitted by the industry. That ent reports to Covernment sources. The sumption of petroleum products has gained. ; AccorZng to the Bureau of Mines, | the yoar 1930 to date has shown a | marled improvement in the petroleum | sitaation. The bureaw’s economic analyst, G. R. Hopkins, reports that production has shown a consistent decline, while consumption has gained. While the stocks of petroleum prodicts on hand have not declined so appreciably as production, because of the tremendous amound on hand, there are no longer | behind them the constant additions | which over-production entailed. Consumption Gains. | Consumption in July, August | #eptember topped all records, | ing to the most authentic figures. Stocks | of gasoline still are above the point they touched a year ago, but the trend then was upward, whereas now it is in the opposite direction. Stocks which were around 50,000,000 barrels of gaso- line on July 1, now are reduced to ap- ! proximately 38.000.000 barrels. The big factor in the changed situa- tion has been production restriction in the United States. This has been fol- lowed by a corresponding decline in output from Central and South America. The South American situa- tion to some degree is controlled by companies which also have huge hold- ings in the United States. It has been recognized that excessive shipments from South American fields would en- danger the profits from far more ex- tensive holdings in the country. Imports From Russia. One factor which the domestic trade | has not previously had to deal with is the importation of oil from Soviet Rus- sia. The Southern Russia field’s pro- duction for the first time is seeking a market in the United States. These and BETTER PROSPECTS period is now past, according to pres- | supplies have diminished, while con- | SHINGTON, imports have been small so far, but the i buying of Russian oil in the Near East and in Europe has affected markets previously held by American corpora- tions. The difficulty that the Russian producers face is in the length of the |haul from the Caspian seaports to | America. On the other hand, the corvee, or forced labor situation, in the Soviet republics may counterbalance | this, | The big factor in the situation, how- | {ever, is that the United States is the | largest consumer of oil and that con- | sumption within the country in the last seven months, 574,251,000 barrels of crude gasoline and benzol, is below the | domestic output for the period and | compares with 610,549,000 for the | whole year 1929. There is stronger | competition than ever before in the re- | tail sale of gasoline, but by-products {and other lines carried by filling sta- | tions |have permitted a margin which | would justify the price cuts made in | | (Copyright, 1930.) DEMAND FOR HARDWARE Special Dispatch to The Star. NEW YORK. September 25—Trade | | activity in most of the principal hard- | ware markets increased slightly during | the past week, under the stimulus of | | expanded seasonal demands, Hardr are | | Age will say tomorrow in its weekly | | market summary. | | Unseasonably warm | | weather recently has momentarily re | tarded the movement of Fall merchan- | dise. With the first few days of colder r a further upturn in business ated ing equipment is i Fireplace fixtur excellent de- are excep- tionally active. Fruit jars and related canning supplies have moved in heavier volumes than at any time since the war Housewares, in general, are in good demand. ainting materials also continue in_excellent demand. From | present indications it appears that con- | t improvement may be expected g the balance of the year. Prices, in the main, are steady and | unchanged. ~Scattered instances of | price shading in some highly competi- | tive 1i have been reported, although, in vi of conditions, quotations are being well maintained. The credit sit- uation is considered fairly satisfactory CURB SEAT $110,000. NEW YORK, September 24 (4).—Sale {of a New York Curb Exchange mem- bership has been made at $110,000, a reduction of $25,000 from the previous sale about a month ago. Just how many seats have been disposed iof at prices between $110,060 and $140,000 | was not disclosed, but it is understood | that an active demand has been shown | for the seats at declining prices, Seats on the curb sold as high as $270,000 | before the slumip in the stock market | last Autumn. BIG PRICE - REDUCTIONS / N Styled for Fall! 4-Pc. Bed Room Suite! 99 Wonderful new design—the perfect combination of style and good taste with 5-ply matched butt walnut ironts! Other select woods used, too! Bed, chest without decks, dress- er and Hollywood vanity with tall mirror! An extremely low price! $5.00 Delivers Suite *99 A 100% geauine mohair suite in 7 different colorings at this low price. be confused with the majority of mohair suites Has exceptionally large settee with reverse cushion in moquette, club chait and the new type button-back chair. well or occasional chair can be put in this out- fit in place of one of the other type chairs. Don't fail to see this outfit. No bottom moulding. $5.00 Delivers Suite at this price, CONTINUES TO IMPROVE | D. C., THURSDAY, SEPTEMBER 25 COMMODITY PRICE GAINS PREDIGTED N. J. Wall, Agricultural Ex- pert, Says Facts Contradict Too Much Pessimism. Recovery from the present level of | commodity prices is forecast by Norman | J. Wall, senfor agricultural economist for the United States Department of Agriculture, Writing in the current issue of Trade Winds, published by the Union Trust Co,, Cleveland. The Govefnment nomist declares that existing facts do not warrant a ®essimistic outlook on prices. | “The two factors influencing the re- y of bt activity are now fa- " says Mr. Wall. “Business in Juiy and August reached a | very low level and for a year production has either been declining from month to | month or has been maintained at very | low_leve | “In t meantime consumption has | { TR TG A0 SMIRTTIN TG i AT XMW } Five Rooms, Kitchen, | Bath and Porch | $110 Per Month THE MONTANA 1726 M Street N.W. This suite cannot A Cogs- 1930 been proceeding at a high rate relative to dpm}dluc“ol;‘e’a and stocks of finished s have been reduced. Department frergieriy reported by the Federal Re- | 980, and commercial paper quoted at serve Board, after making allowances for the lower level of prices, were prac- tically as large Quring the first half of | this year as they were during the sim- ilar period in the very active business the call loan rate at 2 per cent com- :\munltly't.hu view is not warranted h y present facts. pared with 8 and 9 per cent a year "'ghr long-term outidok for the price . ) | level, of course, is closely bound u) h 3 and 31, per cent compared With 6% | the future of the credit situstion :‘:\d per cent in July, 1929. there is nothing in the latter which “Some statisticlans and economists | would warrant the assumption that the have ventured the opinion that com- | credit supply of the next few years modity prices will continue a more | will be inadequate to finance produetion year of 1929, or less irregular downward course for 'and distribution at their present level “Stocks of automobiles, both new and )| a number of yeats. This conclusion | of prices or even at a somewhat higher second had, have been materially cur-|is hased upon an analysis of price|jevel than exists at the present time.” tailed from the levels of a year pre-|movements following previous periods BT AP 9 vious, With consumption proceeding at | of war-time inflations. If the present a more rapid rate than production the | decline were to extend itself in a man-| While a youth was applying for & point has been about reached when|ner comparable to that which took | marriage license at Croydon, England, manufacturers will receive a greater | place after 1814 and 1866, it would | recently, his mother appeared and pro- stimulus to their operations through | mean that an additional drop in prices | tested that while she had 17 children increased dealer purchases. The credit| would take place, at least equivalent|she could not agree to “this boy of situation is unusually favorable, with|to that experienced in the last year. mine getting married on thessly.” Bread and Butter 100% Washington Owned and Operated L L 27T TR 2 *DEL MONTE COFFEE .7 . 37c¢ Packed ORIENTA COFFEE . 39¢ YELLOW BAG COFFEE 1. 20c¢ “TOMATOES Y 3 i 25¢ *ROCK CREEK °“\&® ey X BUDWEISER BEER . . . « ¢« « o Doz 31.75 CANADA DRY . . . . . . . Doz $2.05 REDWING GRAPE JUICE . . .. P. 23¢ Q. 43¢ [*IVORY SOAP 4 27¢| CONCORD ... &5 & ¢ ™ 30c Med. Cakes FANCY SLICED BACON. ... .. FRESH KILLED CHICKENS. . GRAPES Basket - 3 FANCY POT ROAST e STRINGLESS BEANS...........3™ 25c| | FANCY LEG LAMB . 35¢ LIMA -BEANS 3™ 29¢c KING APPLES. .. ... .4 ™ 25 FANGY GRAPEFRUIT :(([FOUNTAIN srana HAMS FRESH PEAS The Finest 2¢1b. ONIONS FANCY SWEET POTATOES ) Ham 3uality Blended for Extra Strength- JERSEY POTATOES. . . ... TOKAY GRAPES. . ......... Mildly Mellow in Flavor BROWNING & BAINES Charming Cofiee TOMORROW'’S PRICE FOR CHARMING BLEND COFFEE 33(; Lb. CERESOTA GOLD st 27e FLOUR - MEDAL FLOUR . .s5¢ CREAM OF WHEAT .. .Lg Pks. 24¢ Sm. Pkg. 14e- QUAKER OATS . . « ¢ ¢ oo e 10e HOMINY GRITS . . . . . YELLOW CORN MEAL o routs 147 Med. Size Cans 23 @ WALDORF . Pt. 29¢ Q. §55¢ TUNA FISH . P WESSON OIL . . . . . . SIFTED PEAS . . -« « « « « 2No2Cans 25¢ CRUSHED CORN . . . . . « - 2 No 2Cans 25¢ 14 Lb. 23¢ GOLDEN BEAR COOKIES ] Can 47¢ FrResH FISH ax0o QYSTERS At ALL 0UR sTORES WISE BROS. i MILK 25 CHASE DAIRY KNOX GELATINE . . . . . . . Pk 19¢ LOG CABIN SYRUP . . . . . . « P.2%e¢ Q. 53¢ FANCY 5-STRING BROOMS . . . . . . . 49¢ RUMFORD BAKING POWDER . .. Lb 32¢ 15Lb. 17e IVORY FLAKES '. . . . « .« . SmallPk Q¢ SUNBRITE CLEANSER e o o 2 Pkgs Qe STAR SOAP . . ¢+ @ Cikes 25¢ LUX SOAP . . . . - 3 Pkgs. 20¢ UNITED FOOD STORES, Inc. TOILET TISSUE Makes Good 8c Pt