The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-07-20
WAR INDUSTRIES
MAINTAINING PACE
Unsettled Labor Condition,
Not Greatly Affecting Gov.
eminent Needs.
RETAIL TRADE IS QUIET
Commercial and Financial SIT.
uatiOn More Favorable Than
Expected, Says "Dun's.'
RETAIL TRADE Is QUIET

Government needs and war work
dominate industries. and despite rather
more unsettled conditions In labor the,
according to the weekly trade journals
Wholesale and jobbing trade at the i'm.
portant centres reflects some seasonal
slowing down. and Is quiet as contrasted
with the speed in war industries but In
the larger markets of the West, South
Northwest and on the Pacific coast, the
reports are that trade is large and de.
mand eager for an ordinary dull period
Brddstreets to-day will say:
Retail trade, notwithstanding good
number of midsummer sales, is quieter
than for some weeks past, but even at
that loses nothing In comparison with
the volume of business doing at this
date In other years. This Is true Of both
wholesale and retail trade, although the
quiet In some wholesale lines is ev.
IDENTIFY the result of the working out Of,
or the result of waiting for. more light
on Government price and production
regulation. while the rather more spotted
condition Of the crops, or the preoccupd.
ton OF rural interests In crop harvest.
ing, makes for quiet in retail trade
Examples of the former kind are found
In the textile trades and in hides ard
leather. where price regulation is either
not thoroughly understood or develops
Too slowly Instances of this are found
I'm reports that Government prices for
one staple line Of cotton goods have been
fixed at so cents a pound, while the
yarn needed to make tho cloth is quoted
at ~ cents. The WOOL hide. leather,
shoe and cotton goods trades note hest.
tation, but at the same time reflect no
absence of basic demand from civilian
sources II only goods to supply same are
available or may be allotted
r. @. Dun & Co. will say:
while the factors governing general
business are each week assuming new
and novel phases there Is noteworthy
measure of stability and confidence in
leading trades and industries, and Sc
curities markets have made prompt and
emphatic response to the gratifying de-
velopments In the war zone. The whole
commercial and financial situation. al
though by no means devoid Of uncer-
tainties and Inconvenience, is much
more favorable than might have been
expected, in view of the revolutionary
changes encountered. and the various
economic problems and obstacles Of tho
period are being overcome with mini
mum OF disturbance. With the energies
of the Government and private interests
centring chiefly in the maintenance OF
the highest possible rate Of production
there is great activity at many indus
trial establishments and outputs in some
instances have attained such proportions
that they cannot be utilized as fast as
| delivered. Yet full capacity operations
are In most cases rendered impra cticah!e
| by the shortage Of labor or by the dith-
| Guilty of obtaining adequate supplies %
raw materials. and rising Temperatures
| in the East have been less conducive 20
vigorous prosecution OF manufacturing,
while distribution of summer mer-
chandise has been stimulated by tho
more seasonable weather, the scarcity q
goods tends to limit the volume OF rec
tail trading and prices OF some comnod-
ties. although relatively low in compar-
son with costs in primary channels are
| beyond the reach OF many consumers.
Notwithstanding the fact that wage adj
| vances have augmented the purchasing
| ability OF thousands Of workers, there
is a we'll defined movement toward
economy and retrenchment throughout
the country. and the prospective offer
ing of the fourth war loan in the tall
will provide another opportunity for
profitable investment OF savings.