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' -_ unsowa GIVES ‘ REASONS FOR A STOCK DECLINE vv vans-w; .vâ€"..., , 1922. Since the recent excitement of tho mac! mergers this dues of stock. has disappoints! most people, in fact than who consider the steel indust- ry u n barometer of American bus- iness: um decidedly upset. Roger W. Bataan who forecast the fallout; of the noon: merger schemes in these columns explnins the union of these stocks rather satisfactorily. “Steer prices” he says, “have m- unfly shown signs of weakening, 3‘ zonally expected tenancy. A sur- vey show- that surface conditions in- dlcoto strength, but the underlylnt‘ situation which is the most import-1 ant. tells a mtnlly diflennt stung} You will remember that six months; no the trend of production of stool I! well as other wwnodities, wu dlstlncfly upward. Steel output has mound from the domestic 1921 slump when only 20,000,000 tons of -A~ luvâ€"v- "â€" With the {was him!» the" was no scarcity- “35““ ”‘9‘ in [acre-tint 0'“! Mn”, “a _‘n Mud ennui. Prices of noel Him: .1 “at time wen ruling was over an prev” avenge. 4L___‘l "El I! Oman-ea or ERIC?“ 8!!! mum-n. _..â€"-â€"-â€" Wellulcy Hills. Novena)“ 11th. nnmuu ml” mmm.mm~¢a with“. With-'3 bum 0N". PHONE 891 10. LE1; mm ton lion lu-con‘lumption will prove cud-'1 My “(1 u] And of : limited dunner. Pro-‘ u. no! duel“ costs, ”may fuel, trans. of m pomdon ind labor. In high enough in! m Ind the next mqlor move. in coulom- tlou with the law of scam Ind ro- _s.--_.| action should he donwud. Corbin- charm. The cod and railroad strikes an event: of the put and an artificial tendencies an inlet! out and eliminated. there is a strong poe- sibflity of a weakening in the price structure. This does not men im- mediately for the questian of delivery over the winter months is very im- portant. Steel billets today rule 88% over the low point. of this you and 65% over the [are-war Avenue. mpg-ins. Nooflwkhggdn‘ “We should not forget that that am several import-n: pluses to con- sider on the bear side. The steel producing capacity of this country as it stands today '.s much mm ‘than our ability to consume tnd ex. his levei is high enough for we an not on the eve of a boom in steel or commodity prices in general. port. In 1913. the actual output of steel W 31,000,000 tons while producing capacity was ostl‘ mated It 85,000,000 tons. In 1920 we produced 40,000,000 tons, lost your 20,000,000 tons and this year pro- bably 30,000,000 tons, but the mall: point is, it called upon, we could pro- :cloce steel at the rate of 55,000,000; tons annually. 1928 IS bound to be a year of keen competition. Fonda. mental conditions indicate that we on not entorlng a prolonged period of ovemxponalon and toy stlmnlovt Gum-kWhflynMPdkMMhtul-c. um ad particular- phou “GI. EDNA LOUIS! rm lulu and Touch: u tun-h- NOW‘S THE TIME! Potter M13. 6: Lumber Co. MW 1 Dealer- LUIIBEB COAL HILLWOIK WMHAII“ PHYSICAL CULTURE all DANCING _ __ '5 - -w, ,,, DWI-thorns”..- MOM I71" POCAIION'I'AB uwumé'imhumwvmn was on steel. Protection over the winter months In the prime buying Incent- m. “It is quenlnnebe whether the steel industry in ful mediated. It did not conform fully with the conâ€" trncuon o! the economic cycle in 1930 und 1921 nndthlslsonoofthorel- mwhylnmnotparthleeml stocks. The underlying atnucture of steel stock: Is not over-strong who of course lndivldual stocks may show independent strength in sympathy with the action of the stock market." General business as reflected in the Jhwnere Grave. Nov. 1.‘ [flue MW 1m pre Mini heldetflapbowneucmponofl'iee q uncultured. It not called far by November 8 they will be returned to the sender. Able A Hannah Geo Campbell Isabel lords Eaten Cunningham InPu-hrd! Auto Ce Lena Page I! P Fallhurx Min Penn 0 . hur- Rlchuds I L Gen-Victor nude he rm fill Stu-key n 1 Index figure of the Bubsonchert in magma... mmamd wm holding m own. Activity it 5% N‘ Johnna Inw numbâ€"4h! Elm II lut “at. Byron K Swmr Eve I" C. If. STAATB. Postmaster Judging other: by Ono's Boll. Confidvnce in another man's mun Is no slight evidence of u mn'n own- Immune. UPHOISTERING 3; Furniture Mr Work Woullanddolhurfmdm Co mug-am Mankind! waumun-umm (All Rights 'OLD M or wrlto. W I Comm. A petulant Is a man who. In. [Ivan Ms choice‘of ’two evils. at. both 0' clwm.--\vimmrt News. WESTERN UN mu Comnxuou Build Financial Fortitude ASK mvasfibw FOR THE FUTURE mwm GARAGE oo. j‘ The 7% Ptcfctred Shares of the Watt-tn United Corporationâ€"the it? Wt you have been watching and perhaps planning to buyâ€"is the invent- mcntfayoutoactupon today. It In the Investment that will mam your {muteâ€"but you must “not Jul Yesterday’s plannfing and today‘s action build W’s comfort. The price is $98.50 a date-the yield, mm 7.11% is substantial and highly dednble. The defened payment plan opemthewny. YOUR 1.0an in omcn TQDAY turned by dew alecumu. and not In motion by ”vacuum; maul-Inca: and the crowd: am pour forth In lb. morning and return It night In dull! processions or love. and Mr! Oil-pin. ‘ hm: Wt Low and mm with H. C. Hoff G Co. BUILDING CONTRACTORS Estimates on complete or repair work cheerfully f ' 1616 insurance Exchange 175 W. Jackson Blvd” Ohimgo, Phone Wabash W Home Address; 191 N. Fol-at Ave. Phone 288 Downers Grove Plan 28‘ poms GIOVI» mu 2?; ,5 Minna» Imported. wnh respect to II chemical much. power to Infidel: cooling um!