Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-07-13
NEEDS OF EUROPE
AS TRADE FACTOR
Extent of Foreign Purchases
of U. S. Products Consid-
cred in Estimates.
REVIEW OF THE MARKETS

IREVIEW OF THE MARKETS
Special Dispatch 10 The Sunday Star.
| NEW YORK. July 12.-1n estimating
! the prospect for business during the
| next few months two factors of prime
| Importance must be given first con-
| sideration. They are: % The ex-
| tent of European purchases in this
country, and CD the trend of prices.
! That the European demand for
! American products will be enormous
! can scarcely be doubted. Whether
, it can be filled is another question.
, one to which an affirmative answer
! near future. The problem, funda-
mentally. is one of credits. America.
F.! if it is to accept the full business
| that will surely be offered and assist
! the allied countries to recover from
| the devastating effects of war, must
; advance perhaps $2.000.000,0 900 in the
| next twelve months to enable them
! to settle the international account.
And this figure leaves out of con-
sideration the German requirements.
estimated at not less than $500, 000, 900.
ouSC 4dSh SuIAluCO
1t is huge task, but one that
seems less formidable when contrast
ed with the tremendous financial OPP
erations of the last two years. The
countrys leading fnanciers have al
ready prepared and soon will lay
before the administration an adequate
program for meeting the situation
, 1t is in tentative form and may be
widely altered as circumstances de-
| n h,,t l. 4,
the necessary credits will be pro-
vided That is the almost unanimous
conviction of the leading interna-
tional bankers
1t follows then, that the domestic
demand for goods, already larger in
ing toward capacity in other lines.
will be supplemented by what may
really amount to q veritable scramble
among foreign buyers for the prod
ucts of our fields and factories. And
with a new and eager bidder about
to enter the market the prospect Of
lower prices would seem to be slen-
der.
Recession Of Prices Not Expected.
At any rate. it is apparent that the
conviction is fast gaining ground
among American business men that
no considerable recession Of prices
may be expected in the near future.
They recognize that the state of do
ance with supply. where the scales
are already tipping down on the side
| of demand. and that the supply of
| money and credits-a fundamental
| Influences not shrinking.
| Confidence in the stability of prices,
| or at least confidence that prices will
| not soon go much lower. has so far
| replaced the pessimistic view prevail
| ing only a few weeks ago that there
is less disposition to defer work of
| permanent character, such as build
! ing. Projected buildings, permits for
| which were obtained in June. called
! for the expenditure of three times as
| much money as was required for sim
| liar work in June, 1913. Municipal
! and other local governments are
! starting improvements on scale
| larger than was ever known before
| country must do the work of yester-
! day, postponed by war, as well as
! the work of today.
Wall street continues to write the
! story of general business improve
| ment on the ticker tape. Stock prices
!, continue an upward course.
Trade in Cotton Textiles.
Large export orders, heavy de-
mands from domestic jobbers. ad-
! yanced prices and shortages of goods
| were the striking features of this
| weeks movements in the cotton tex
tile trades. Buyers from nearly every
section of the country were numerous
in the sample rooms of the leading
mill agents. Many of them were un-
| able to induce the commission men
to accept their orders in full volume.
| Most of the mills sold their product
with the understanding that ship
l Il In q
yenience, the reduction in working
hours of their operatives from fifty
four to forty-eight a week rendering
il impossible to get out anything
like normal production. ~.
grade ginghams allotted a limited
| yardaee of these fabrics to their Gus
toners for delivery during the period
extending from December to March
next.
were advanced 2h to cents a yard
hut the increased prices did not cause
buying to abate.
business in gray or unbleached
cloths was limited only by the volume
Of offerings from the mills. Sales
were made at advanced prices for
delivery to the end Of this year. but
beyond that period the mills were un-
willing to go.
large orders for colored. gray and
bIeached fabrics Fair orders were re-
ceived by cable from South Africa.
Wooden Goods.
Prices asked by jobbers of wooller
goods for their wares were increased
More inquiries concerning the pos
sibilities of offerings of spring goods
by the mills continue to pour in or
the selling agents Several mill agents
have booked spring orders from the
"blanket" samples prepared by the
mills.
Deliveries are slow and buyers Offer
advances over contract prices to mills
which will give them early deliver
les.
In announcing a sealed bid sale OF
surplus material the Navy last week
set a minimum price of IS a yard or
NJ 20-ounce blue melton cloth. This ID