Evening star., 1923-10-01
RUBBER OUTLOOK
PUZZLES DEALERS
Tire Firms Doing Very Little
Buying-LiveIy Carpet De-
mand-Moving Day.
BY J. C. ROYLE.

Special Dispatch to The Star.
NEW YORK. October Rubber
dealers all over the world have their
ears to the ground listening to the
swish of automobile tires and the
thud of rubber heels. They are wait
ing to see what course business in
general in the United States will
pursue before committing themselves
definitely to course of action, be-
lieving that continued business pros
perity would mean advancing prices.
Trading ino rubber has been fairly
brisk in this market, but it gives
every indication of speculative ac-
tivity rather than of buying by
manufacturers.
Tire makers, so far as can be learn
ed. are not in the market. They are
busily engaged in strenuous enort
TO dispose of inventory stocks. Esti-
mates by employment bureaus place
the number of unemployed at Akron
at $4,000, although some of the
smaller rubber companies have in
creased their outputs slightly.
Tire Stocks Being Reduced.
There are continued rumors in rub
ber circles that some of the larger
companies which have depended al
most entirely on the sale Of tires for
their main revenues are preparing
to diversity their lines. However, the
stocks OF tires in the hands of manu-
facturers are steadily being reduced.
Dealers assert that the first real
volume of manufacturers buying that
makes its appearance probably will
shoot rubber prices upward from
present levels. They are watching
closely, therefore, the reception ac-
corded to new automobile models and
the output of the motor-ca factories.
The present volume of trading in
rubber, apparently, is largely confined
to technical commitments by specu-
lators. Those who are well financed
and convinced OF the future trend OF
others holding supplies of spot and
finding the expense of carrying them
excessive are selling spot and buying
futures.
Rubber Shipments May Grow.
There is every possibility that the
supply of rubber permitted to be ex-
ported under the Stevenson plan from
the British East Indies will be in
creased 5 per cent November ], ac-
cording TO Fred b. Peterson. promi-
nent local dealer identified with large
East Indian interests. The amount
for export is automatically increased
per cent whenever the price in Lon =
averages more than 10 pence, or about
1918 cents per pound. at present
rates OF exchange. The price over
the first two years OF this quarter,
Mr.. Peterson said, had been well over
the required average and there was
every indication that the level would
be maintained above Is pence.
Carpet Buying Brisk.
Formal opening Of the spring door
coverings took place today with the
auction Of rugs and carpets by Alex
ander Smith & Sons. Over one thou
sand buyers were in attendance and
the volume of trading was large.
tion in the last few days and an ex-
ceedingly active season among the
floor covering manufacturers seems
assured. Blue. taupe and tan appar-
emily predominant in the color lines
Of carpets and rugs, according TO pre-
liminary showings. Fall business
among the retail houses is being slim
ulated by the semi-annual moving OF
the fat and apartment dwcllers,
which was in full swing today.
Moving Companies Swamped.
Van owners and moving and stor-
age companies were swamped with
business in all of the larger centers
and many who sought new quarters
will have to wait from three days to
a week before their belongings can
be transferred. Approximately 1oo,-
900 New York families folded their
tents and stole away to new addresses
today.
Rents showed no general signs OF
decrease here, the only drops being
recorded in localities where new
apartment houses were available, and
something had to be done to coun-
teract the desire to move into new
building. Prices in the newer struc-
lures were firmly maintained.
satisfied an to Japauese Credit.
Manufacturers producing materials
needed for the rehabilitation of the
Japanese cities expressed themselves
today as well satisfied with the
credit situation in Japan. although
the details Of the loan which 1t is
proposed to place in this country
have not yet been announced. There
has been no hesitancy among lumber.
-four, steel or electrical equipment
men In speeding up in anticipation
Of the expected business. Several
large concerns have sent experts to
Japan to advise in the reconstruc-
tion program.