Evening Star Newspaper, October 3, 1931, Page 5

1. 5. FEELS EFFECT OF BRITISH MOVE Shifting of World Markets. Watched Closely in Washingion. | | BY DAVID LAWRENCE. | Although the current economic sit- vation perplexing ph: pression, the key is to be found little understood by eflects of the s eral Reserve System is into account the numerous actions throughout the world result from a dislocation of international ex- e redistribution of go f the United Sta surmounte in some instances by the more cheipiy produced Euro- pean products, whose labor is paid for in a depreciated pound sterling. Sim- ilarly, Great Britain and some of the of exchange it may ta fore an equilibri more in international ex: Twn Stanc Two major products are in American_dollar and the new sterling. Or to express it .n-i v. the question really is: Will sure of value or will standard growing out of the new British pound sterling? No artificial measures are being con- sidered here to bring about a reconcilia- | tion of the two. As a matter of uu,! the feeling is growing here that nature will have to take its course and that | the tradesmen of the world will in the | natural course of events establish a balanced relationship so that there will | be interchange on a mutually satisfac- | tory basis. | Today, with the Britsh pound sterling | selling in world markets at ut one- | fifth less than in normal times, the | British citizen who happens to be fortunate enough to own American | securities can sell his bonds cr etocks | and get American dollars or gold which | he con convert instantly into £1 15| of the new British money and have one-fifth more money to pay his bills | at home. This is one reason why Britons have been selling securities in New York, thus causirg a selling wave which has helped to reduce prices of securities for everybody. Conver: American citizen sending goods to Britain and other countries which have | followed her in abandoning the gold standard now finds that the European purchaser must put up one-fifth more in the currency of his country in orde to make the same purchase of America goods that he did before. Such a 2 per cent increase in price for foreign goods means the curtailment of imports In an already declining foreign trade | for American factories. | British Prices Rising. Prices in Great Britain will go up to some extent, but probably not as quickly as would be necessary to bring about the previous ratio of domestic ! British prices to foreign markets. | Under such circumstances, with tariff walls crumbling and the equiv- alent of new tariffs being erected, there is bound to be unsettlement. Some ob- ervers here think the British actio was far more sensational than any. thing that has happened since the Oc- tober. 1929, hreak in the stock market, and that it will take some time for the world 10 get over the effects of the new factors introduced by the British situation. For the moment there is a drifting policy here, largely because there is no | desire to do anything impulsive in a critical situation, but it is_inevitabl that some inflationary tendency wil creep into the Federal Reserve policy It will not be so much a deliberate effort to control values as a readjust- | ment which will compel the Federal Re- | serve to issue currency in larger quan- tities against eligible paper or through | purchases of Government securities and bankers' acceptances. The last week shows that the Federal Reserve stood Teady to absorb these acceptances and | did s0 to the extent of about a quarter of a billion dollar. | There is underlying it all a feeling ' of confidence that American assets and rbserves are sufficient to weather the new crisis, but that inevitably the re- adjustment machinery will work slowly and will not be accelerated very much by attempts at artificial measures. (Coprright. 1931.) REBURIED BESIDE SOLDIER HUSBAND! Rebecca Cresap Ord, Wife of Officer in War of 1812, Laid to Rest in Arlington. In the presence of a great-great- grandson and other descendants, the body of Rebecca Ruth Cresep Ord was reinterred in Arlington National Cem etery yesterday beside that of her hus band. Lieut. James Ord, an officer o the War of 1812 | Both Lieut. Ord and his wife were | members of famous military families of Maryland which contributed Army and | Navy officers in every war from the | Revolution to the recent World War. | Many of their descendants, including Maj. James Garesche Ord of Washing- | ton, who is on duty with the war plans division of the general staff, are living | in this city and nearby Maryland. Ma). Ord is a great-great-grandson. | Lieut. Ord was one of the early stu- dents of Georgetown College, having attended there early in the nineteenth | century. Rev. W. Coleman Nevils, 8. J., | president of Georgetown University, per- | formed the rites of the Roman Cath olie Church at the services today. Lieut. Ord served as an ensign in the Navy during the War of 1812 and also as a lieutenant in the 36th Infantry of the Regular Army. } His wife was the daughter of Col. Cresap of Maryland, a soldier of Co- | Jonial and Revolutionary times. She ! was born at Cumberland, Md., October 22, 1794, and died at Santa Cruz, Calii., April 10, 1862. It was from California | that her body was taken for reburial| in the Ord lot at Arlington, where their | son, Gen. E. O. C. Ord of the Mexican | and Civil Wars; a grandson, Capt. James G. Ord, and another grandson, eut. Jules G. O:d, who was killed at e baitle of San Juan, in Cuba, also are buried. Fifteen descendants of the two fam- FIRE DAMAGES TRUCK Wearing Apparel Valued at $500 Is Also Destroyed. A truck of the Thour Cleaning Co., parked in rear of the firm's establish- ment, at 738 Eleventh street northeast, 1ast night caught fire and was damaged to the amount of $200 Wearing ap- parel in the vehicle vaiued at $500 wu[ | destroyed. James Leo Ford, colored, 17, of 652 Orleans place northeast, a helper on the | truck, was severely burned on both legs ' below the knees. He was treated -at Casualty Hospital, where his condition fhis moming was reported fairly good. | flies were engaged in the World War. ‘ a | THE EVENING STAR, WASHINGTON. D. C., SATURDAY, OCTOBER 3, 1931 WooDWARD & LOTHROP 10™ 11™ F anD G STREETS Now—an Exclusive Presentation of, We Believe, the Finest Livin g-Room Furniture Made Commercially Campbell Furniture—F ashioned to Outlive Your Descendants Consider Campbell furniture not as the heirloom of tomorrow, which it assuredly is, but rather as the means of your own personal enjoy- ment. The needs and backgrounds of modern homes have dictated its creation. It copies the simple elegance of English, French, and Italian masters—the styles in vogue now—in pieces painstakingly constructed by some of the world’s best furniture makers. Those who buy Campbell living-room furniture here will find the beauty, comfort, and satisfaction of owning it far outweighs its mod- est cost. FURNTTURE, BIXTH FLOOR. Sraceful Marquis Sofa, upholstered in beautiful blue antique velour. The legs and base gre finely $275 carved mahogany e A French Provincial Chair is perfectly copied. The exquisitely carved frame is walnut; the covering, $|75 gold and rust frieze FURNTTORE, SIXTH FLOOR. Lower Prices Now on Karastan and Karashah R‘ugs Increased Production Makes Possible a Readjustment of Prices on These Famous Oriental Rug Copies A dramatic occurrence—our beautiful collection of the new, rich Karastan and Karashah rugs, in every size and in gor- geous colorings—priced to sell for litle more than you ordinarily pay for good domestic rugs. Every rug is made of the finest yarris, of the same superior quality used in the real Oriental rugs they copy. These bring to the average American home the beauty and pleasure that heretofore have been enjoyed only by the limited few. Distinctive Karastan Rugs—15 Sizes—Moderately Priced The intricate loveliness of design, the splendid color of costliest Orientals are duplicated with marvelous perfee- tion.in these rug masterpieces—even to the deep silk pile and silky sheen. Only an expert rug maker can detect the reproduction—yet the difference in price is large and the wearability and beauty the same. Sizes given are approximate. Karastan Sizes and Prices Size 9x12. R.ecently $195. Now 2.4x4.2. Recently $24. Now 3.1x5.2. Recently $38.50. Now.. 3.6x5.6. Recently $48.50. Now.. 4.6x6. Recently $75. Now. 6x9. Recently $125. Now.. 7.6x10.6. Recently $185. Now 8.6x10.6. Recently $190. Now. 9x15. Recently $325. Now... 9x18. Recently $395. Now.. 9x21. Recently $495. Now. 10x15. Recently $395. 12x15. Recently $495. 12x18. Recently $575. 12x21. Recently $685. Karashah Rugs— Even Lower Priced 9x12 size. Recently $135. Now 2.4x4.2. Recently $14.50. Now.. 3.1x5.2. Recently $33.50. Now.. 4.6x6. Recently $55. Now.. 7.6x9. Recently $115. Now 8.6x10.6. Recently $129.50. Now. 9x15. Recently $215. Now 9x18. Recently $265. Now. 10.6x15. Recently $265. RuGs, FirTa FLOOR,