The sun., 1919-04-19
BOOST IN BUSINESS
AWAITS PEACE PACT
Improvement Expected When
Signing Of Treaty Relieves
80 the Uncertainty.
TRADES TREND FORWARD
Textiles, Leather, Footwear
and Some Other Commodi-
ties Active.

The chief trend Of business IL forward
This IL clearly discernabis despite the
problems OF reimbursement, according to
tho weekly trade reviews, which continue
to voice optimism as to the future course
Of industry. Unmlstskable improvement
is seen In textiles. hides. leather. foot
wear, lumber. ETC., according to Dun's
Review. which says:
with all its lack OF uniformity, COM
mercial news gives tangible reason for
encouragement and optimism, and even
the poorest reports suggest no basic
weakness. Considering the formidable
problems of reimbursement, It Is far from
strange that sharp contrasts, are still
presented, nor do the divergent condi-
lions In different trades and industries
obscure the fact that the main movement
Is steadily forward.
where the gain 10 merely sfight and
unconvlnoing, or where none whatever
appears, tho retarding elements arc both
economic and political In character. and
It becomes increasingly clear that the
broader business development waiti
largely on the actual contamination OF
tho peace treaty. It Is significant, how
ever. that whereas special stress wal
recently put on the various uncertainties
and obstacles, now the emphasis 10 or
the hopeful and constructive aspects
and the change OF sentiment marks 6
distinct advance toward the attainment
OF that full measure of progress which
seems to be plainly foreshadowed.
Loan PubIacsty HeIps Trade.
"Definite announcement Of the Govern
ment's fifth and Anal war loan has re
| moved the doubts as to it's size ant
rates Of interest, and not only 10 tn
amount Of the Offering, $4.500.0 00,o 900
substantially less than was anticipated
| thus tightening the expected drain OF
| banking facilities, but It's terms are 81
attractive as to make q strong appeal t
the individual investor.
THE generally buoyant feeling in n
nancial csrcles has found expression Il
sharply rising prices of securities Of
/ active and diversified trading; yet no
where in the commercial field ia Their
conspicuous speculative discounting o
| the future, the prevailing disposition re
naming one OF prudence and caution
and where tho price question Is espe
cially uncertain, as In iron and stee
| tneTe rs HtollhtiOh hhu AVptSoo
| of operations.
"In textiles, hides and leather an
footwear, lumber. and some other i'm
portant commodities, recent weeks hav
brought unmistakable improvement l
business, and prospects are even bette
than existing conditions.
Outlook for Iron ana steel.
Even with all its unsatisfactory fea
lures, which the weeks events hay
magnified, the iron and steel situate
holds various elements of promise. TIL
potential demand in this line Is admit
tedly extensive, and the existing pric
uncertainty, which Is the chief obstacl
| to progress. cannot continue indeinitel,
discussion OF the probable abandon
mert OF the price-stabiliZing plan and tn
return of an open market is now NOR
widespread, and once the Washingto
controversy over the price question
definitely settled. and the restrainin
barriers lifted, the industry may begi
to emerge from It's present stagnatof
But current news as TO manufacturir
operations which have fallen to rate c
above so per cent. of capacity In som
instances, is disappointing, and report
of unemployment at mill centers are DC
coming more common"
Optimism by "Bradstreet's.r
Under the spur of Easter buying
says Bradstreets State Of Trade, ''reta
distributive trade has noticeably eS
banded, this too despite rainy weath'
and bad roads all along the norther
border, but especially in the sprin
wheat northwest. All sorts Of wearin
apparel. but especially millinery, men
and women's clothing, other furnishing
and shoes note expansion.
Additionally interesting and eve
more encouraging, however. because
a backwardness hitherto noted. are II
evidences of enlarged demand from sol
bers and wholesalers for goods alike Il
immediate and for future delivery, tie,
tiles especially 6uiking large in this d
rection with a rather general stiffenir
OF values all along this line Prii
cloths, gray goods, sheetings. raw wo
and some manufactures thereof have u
risen slightly and there seems furth'
growth of the idea that price maintei
ance or recovery ia something moro tina
a theory.
Trade In wholesale and jobbing lin'
, is Better than at any other time SIM
the armistice and retail trade IL.
course, better with n number of centre
!. especially in the northwest, reportir
distribution equal to or better than
year ago. It might be pointed out, HOY
ever. that comparisons OF Easter trat
this year and last arc not exact b
cause that festival is three weeks lat
, this year than last.
, Failures Are Cut in Half.
, collections are just MS good as ev
and failures run at only half the nur
: Der Of those of year ago, tho latter
very small total. Crop reports are
: the main good. excellent indeed az
, winter wheat. but inclement wealth
has slowed down farm work In Il
northwest and spring wheat seeding
delayed. while oats seeding is also i
terefered with in big surplus areas.
while dlstributivo trade pure Al
, simple has shown great urge forwar
: industry and particularly tho gre
' basic lines of iron and steel. coal al
: 10 n lesser extent lumber. fail to she
Improvement. Indeed iron and ste
have gone back as the deadlock as
IprIces has continued, steel bars for aut
mobile manufactures and struCtur
shapes for builders noting most activit
v MIL operations are slower, 80 10
0 per cent. OF capacity. In fact, an ado
tional number OF furnaces are report
going out of blast and stocks OF pig ir
are large. In considering capacity r
ures OF course II is vel! TO rememb
n that the country'a real capacity Is (
greater now than four or five years al
Talk OF an open market for steel Is ST
: rife.
e Goal output is restricted and demal
d Ia slow. while coke IL lower. Coal Is
cheaper at retail in the East, however.
: Fire IL Fought silently.