The sun., 1919-09-06
TRADE IS BUYING
LESS LITERALLY
More Conservative Attitude Il
Due to Expectation of Fur
Their Price Drop.
REEF IN BIG PURCHASING
Reviews Report Decided Tone
j Of Suspense in Largo
Primary Lines.
REEF IN BIG PURCHASING

A change in buying policy in the al.
rection Of conservatism, mainly on &C.
count Of the belief that recent price
yielding will be further extended was
noted In the weekly reviews Of trade
and business. which will be issued to-
day. A decided tone Of suspense In big
primary lines and markets, with big
buying under a reef, 90 to speak. is
said to be In evidence.
Dun's Revieto has to say about the
trade positions Business sentiment, In
the present uncertain period. Is suscep-
tible to quick fluctuation, and this week
brought O sudden reversal OF feeling
The turn has been for the better and
a less threatening labor outlook chiefly
explains II. Fresh strikes Of magnl.
tude that had seemed to be impending
have fortunately failed to develop, thus
clearing the atmosphere, and benefits
may conceivably accrue from the pro-
posal for a conference on the indus
trial situation in October.
1.-THE whole question of wage adjust.
ment Is obviously bound UP with the
high price problem, which is everywhere
causing agitation and which has left an
unmistakable imprint on condition.
While renewed impetus Is given to manu-.
featuring and distribution as the vaca.
ton season draws to its closing and
though there Is conspicuous activity on
work previously taken. yet the fact 70.
mains that new business In some i'm.
portant lines 10 now distinctly hesitant
and that there Is greater conservatism
Respecting the future.
1.-THE change OF buying policy has no,
come because all needs have been satisfied
or because supplies are so plentiful that
requirements can be filled without diff.
Guilty. but has resulted mainly from the
recent price yielding and the growing
belief that the reaction will be extended
Not only are many holders OF goods not
now so confident of their ability to Sc.
cure the extreme prices they had for.
merly counted upon, but even where
markets are in a particularly strong DO.
sition, as in iron and steel. there is a
disinclination to further advance prices
at present, and in Dun's list Of whole.
sale quotations this week, for the fifth
consecutive week, declines are in the ma
jority.
Whether the price upturn has merely
halted, or whether the turning point has
been definitely reached. is not clear a,
tho hhoihcIil, Jul ODpOSlIlOn TO nlHA
prices is spreading. and in some quar-.
tiers. at least, the peak seems to have
been passed. With n suspension Of
strikes and an acceleration Of produc-
ton, the era of general price readjust.
ment that must inevitably follow would
be brought measurably nearer"
Brddsreet's says: Trade, like crop
reports and the labor situation, is spot
ted. and there is not the snap to demand
usual In most lines at the beginning Of
the autumn season. The September buy
ing season is, in fact, expected TO open
a trihe late.
While the industrial situation, and
particularly strike troubles, have greatly
lessened. manufacturers' order books are
well filled, retail distribution particu-
larry in surplus crop producing regions
leaves little to be desired, and there is
n very general complaint that deliveries
OF merchandise on orders are made
quate; there is a rather more decided
tone Of suspense in big primary lines and
markets, as, indeed. there Is In labor
circles; big buying Is under a reef so to
speak, export trade feeling the continual
and growing weakness Of exchange has
fattened perceptibly. and there is a dis.
position to wait and see which seems
bound to have visible cumulative effect,
upon future trade volume.
AS pointed out elsewhere, the meas
ures of August movement available thus
early in September portray a rather
sharp check as compared with the buoy
ant movement of July, but reflect biz
improvement over August OF other
years"