The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-09-13
BUSINESS SHOWS
LESS HESITATION
Uncertainty in Labor Situa.
ton Still Important in
Retarding Trade.
SAY PRICE PEAK PASSED
Abrupt Decline of Values q,
Commodities Said to Be
Encouraging Feature.
SAY PRICE PEAK PASSED

Uncertainties surrounding the laho,
are still very important tao-
tors in holding back business to som.
extent. the trade publications indicate
but the hesitation in business geners,Iv
Is much less than 1t was a weel, am
One of the most encouraging feature,
Of the situation, it is declared, il ths
abrupt decline OF prices OF many com.
modities. and in some quarters the onn.
ion is expressed that the peak has been
and passed.
With the labor situation still disturb.
Ing and the future holding various ele
ments of uncertainty" says Dunjs Re.
uieto, Conservatism in business remain.
present, though there Is
less hesitation than recently. Reviying
activities in some lines which have
lately been hating while buyers awaited
price concessions that have not been an.
sent give conditions a stronger apnear.
ance, and no inconsderable Impetus In
and distribution come,
with the advancing season. The best
feature, however. is the fact that nrices
of not a few commodities have fallen
abruptly from previous extreme levels
and that in some quarters at least III.
crest seems to have been definitely
passed. Resistance to high prices /,
growing both in wholesale and retail
circles, and only the limited outputs and
the slow process of catching up with back
orders apparently prevent further yield.
ing in some markets.
with MANY da1iypriea IN he
old contracts and with supplies continu.
ing difficult Of procurement relatively
few producers are confronted with tina
necessity of pressing for new
business; but it is plainly evident that
many sellers views about prices have
undergone revision, and the further de-
probation of international exchange
with its consequent restraint upon over
seas trade, is diminishing the confidence
of some holders.
Factors in Weakening Prices.
"ResaIes of goods bought on specula.
ton and of merchandise purchased for
foreign shipment have been an influence
in tending to weaken prices and reports
of actual cancellations OF export orders
are not now altogether uncommon. While
current reviews of business indicate
clearly enough that there Is still great
activity in many directions, yet the high
price agitation, the widespread indus
trial unrest and doubts about political
developments all make for increasing
caution in entering upon forward under
takings.
-Four months ago a canvass m2de by
correspondents of Dun's Revteu showed
the automobile industry to be in a flour
ishing condition, and another survey Just
completed by this Journal tells the same
story. Nearly everywhere the chief CON-
plant Is of inability to secure enough
cars with which to meet requirements,
demand outstripping supply, and now
and then reports are heard OF premiums
being offered for special deliveries With
few exceptions manufacturers are fully
sold UP, many of them from three TO six
months ahead, and efforts to extend
productive facilities through plant en-
largements or new factory construction
are not uncommon. The unusual de-
mand for both new and used cars has
naturally stimulated business in tires and
other accessories and some leading tire
concerns are said to be so overwhelmed
with orders as to find allotment Of out
puts necessary. The trade is generally
optimistic regarding the future and APP
~ OSAdbiC ~ NC ICuuCllOllS are COLS4u61 GU
improbable"
Optimism More Pronounced. =.
BrddStreets State of Trade says
with the advance of the fall buying
season and the activity engendered by
active purchasing by retailers from
Western, Northwestern and Southern
jobbers there is rather more pro-
rounced tinge of optimism in the trade
advices this week. This, of course does
not conceal the fact that in some big
primary lines and markets at the East
there is quiet, coupled with uncertainty
as to the outlook for the rattle! more
distant future, this having its rise large
ly In the continued unSettlement OF Ia
tor, the threats of new strikes, the
doubtful outlook in the exchange mar
kets and the further shading OF crop
prospects, except OF corn, indicated by
the Government reports.
1T i3 interesting to note, however
That the rather unsatisfactory cop
yields indicated in some States, notably
of cotton at the South, accompanied by
receding prices, and of spring wheat ana
oats in the Northwest and West, seem
to find little reflection in the trade re-
ports at interested nearby markets, IN
the Northwest the poor spring wheat re-
turns seem to be fully balanced by eA-
rellent reports as to corn and the re-
Election that after all drawbacks are con
sidered the total yield OF all cereals IN
surplus States is above the five year a'-
erage.
Even In some big primary lines
notably iron and Steel the prospect OF
general strike seems to be regarded WHO
something like equanfmity being oai,
anced by knowledge that orders on hahu
are large, that demand. except FOR ran
road equipment, is good and that some
large sales OF pig iron at Chicago ana
other points are reported at about pres
ent prices The steel industry AS d
whole is running 50 to 100 per cent ca
pacity in .most lines The prices sllu1'
ton does not reveal much that Is ne"
as 10 the trend OF values although NE
trend OF foods still seems do"n"aiu
Prices as a whole went off In August; %
indicated by BradStreet's Irder A"Ho,,
but considering the numerous influences
at work the decline seems rather Hn@l'
CONSOLIDATED EXCHANGE