Evening star., 1937-10-17
BY JAMES WALDO FAWCETT.

BY JAMES WALDO FAWCETT.
Acting Third Assistant Postmaster
General Roy M. North will attend the
Third American Philatelic Congress,
Hotel La Sale, Chicago, Friday to
Sunday, october 20 to 81. inclusive
He will be one of the principal speak
ers at the banquet on Saturday eve
ming, october 80.
Joseph Josselson, 1400 Grand Con-
course, New York City, desires to cor
respond with collectors interested to
join a King George V stamp club.
He specializes in issues showing por-
traits of the late sovereign and would
be glad to hear from other philatelists
who have the same preference.
Kent stiles is the latest philatelic
biographer of President Roosevelt
His feature story on The Nations
No. Stamp Collector" appeared IN
the New York Times Sunday Mag
azine, September 26.
c. Robert Kay, philatelic editor Of
the Associated Press, wires from New
York: The decline of prices on the
New York Stock Exchange has hac
an adverse effect on the stamp trade
"Well-to-do collectors, after suffer
ing actual or paper losses on STOCK
transactions, often stop buying stamps
until their gloom is dispelled by turn
OF fortune.
Margin calls occasionally cause
sudden dumping of mint stamps helc
by SPECTATORS who need ready cash
This condition has caused furtnel
softening of prices on recent Unitec
States postage issues.
1T is possible now to buy huge
quantities Of current and near-curren'
United States airmails at substantial
discounts from face values.
"These are reaching the market
from banks and stamp brokers who
have lent money on the accumula-
tions. only to have the borrowers de-
fault on their interest and principa
payments.
This condition has not yet beer
reflected In price lists OF retail an'
wholesale dealers, but they make M
secret Of the fact that their ORDER
have fallen of sharply.
Auction dealers continue to p'
flooded with sale material and dis
appointing prices are realized Tor re-
cent issues. Better grade material
issued before 1882, Is relatively firm
however.
THE stamp market is more sensi
tive In the East than in the Middle
West. Eastern markets are the mrs
to reflect price changes.
I'm a period Of rising prices, New
York auctions will show better real
izations than elsewhere, but when quo
tations are falling, auction sales out
side New York City are likely tt
show flrmer prices.
"The reason is that there are NJ
Nation wide distribution Of daily re-
ports on stamp market conditions, a!
there is for stock prices.
Western collectors do not realizt
until several weeks too late that the!
have bid higher than conditions JUS
tify In a period Of declining values
The International Philatelic Weel
Exhibition of the Central Federation
OF Stamp Clubs will be held at thu
Medinah Club, sos North Michigan
avenue, Chicago, Thursday to Sat-
urday, November 18 to 20. inclusive
Fred w. Peters and Paul Earring art
In charge Of arrangements.
At the Philippine trade commits.
sioner's Office, Barr Building, four diff.
ferent types of 2-centavo envelope!
and three 4-centavo, recently re-
ceived from Manila, are available
Also, two official postal cards, book
lets OF 2-centavo stamps, 2-centavt
o. B. overprints and new stocks O.
broken sets of 1885 and 1885 Com
monwealth and armail overprints
David H. Davenport, writing in Me.
keers Weekly Stamp News, says: with
the stamp program for 1887 completed
postal officials are turning their at.
tention once more to the delayed revi.
sion Of the regular series, and from 6
reliable source comes the information
that the first Of this group will prob.
ably appear in January. If collectors
have experienced difficulty keeping
pace with the II commemorative, two
airmails and one souvenir pane already
released this year, and with four mort
commemoratives announced, they
should prepare themselves for shocI
during the coming year, especially i
the new current series progresses tt
the release OF the higher values"
-
Guatemala will issue on Novembe
Is q miniature sheet of four stamp
In commemoration OF the sesquicen
tennial OF the adoption of the Consti
tuition Of the United States. The de-
signs will include portraits Of Lincoll
and Franklin D. Roosevelt, q map O