The Washington herald., 1920-12-20
FABRIC STOCKS
REACH Low EBB
In MIDDLE WEST
Chicago Merchants Re-
port Increasing Activity
In Many Glasses. Y
JOBBERS KEPT BUSY
Retailers Ready Need and An.
ticipation of Large Spring
Trade Dictate Needs.
by C. ID. EVANS.

CHICAGO. Dec. 1s.-Much as we
are committed to the idea that ev-
erything is shrinking to nothing
and much as we enjoy our woe, the
luxury of self-pity. it is duty to
record favorable happenings. These
one sees in several lines of mer-
ehandising. Agents in this city who
reach jobbers not only here but in
western cities within a range of
500 miles state that they are now
receiving orders for various classes
of fabrics. stocks being very low.
Recently these jobbers have been
buying from speciality jobbers. that
Is, a class OF dealers outside the big
concerns who speculate in fabrics.
A considerable quantity of goods
has been obtainable from those
sources and through sales by bank
rupts.
Those purchases are dictated not
only by the needs of retailers at the
moment but by anticipation of a
large trade in the spring. 1t is
well past the time when the spring
trade should begin, and the expec-
tation of something like revival
in November has not been verified,
but We seem to have come to some
thing like a meeting OF buyer and
seller. Jobbers in this city state
that they had big business for
nearly nine months of this year
and that this added to the big prof
it's they made during the earlier
boom time made a good showing,
but all these profits have been
swept away. One OF them says that
goods which cost him $3.50 per yard
he is now selling at $50.
Evidently this new demand is
based on more liberal purchases by
retailers throughout the West. One
cannot expect II to go very far for
the present because the buyers
strike" is a real thing and the
spirit of it has not yet departed
from the body OF the people. The
Christmas trade in this city is poor.
1t is in contrast with that of for
mer periods of depression, when
contrary to predictions buying was
about as free as in ordinary years
Evidently many people now see af-
fairs coming to the point OF half
a lunch instead OF three square
meals a day.
Security Market Hard Pressed.
Nor do assurances from the lead
ers in trade have much effect on
the public mind. We have it from
some of the best authorities that
the underlined reverses in the East
of which there have been SO many
whispers are now out of the case.
for the situation there has become
strong. and as to this city there is
little of that sort of thing. The
pressure on the security market
therefore is not the fear of impend-
ing disaster but the necessity Of
replenishing the purse of the indi-
vidual. This is we'll illustrated in
the Chicago market by 50 for Ar
mour preferred and 97% for Pull
man, both considered choice securi-
ties, and one might even cite SO for
Sears, Roebuck and Company as an
other illustration. The condition OF
these companies, with Il possible ex-
ception of Sears. Roebuck and Com
pany, is excellent.
One may look into the affairs Of
the greatest industrial corporation
of the world. United States Steel,
as showing that intrinsically indus
try is not in nearly SO bad shape as
many people suppose. True, that
corporation scored a decrease in un-
filled orders of S15,371 tons in De-
eember, but remaining unfiilei OF
ders were 9,02l,4Sl tons, which Is
more than was produced IN the EN-
tire year 1914 and less than three
million tons below the output II
the flush year 1919. 1t would seem
that this company will have plenty
to do in 1921, and a number of those
whose statistics are less freely pub
lished will share the prosperity. It
should be remembered. too. that the
latter part of December is inven-
tory and vacation time among man
TIA Sturers and the present si:uati IN
is no zeal indication Of what Will
ha?Ter next year.
Corporations central In this city
reporl the outlook for 1921 excl
lent-in iron and steel, railroad
electrical supplies, etc.
for example. American Steel Foun-
dries, whose stock has been cut
nearly in half in the market. The
spread in Industrial items indicat-
ing curtailment and reduction in
wages is indeed impressive, but il
covers only a moderate percentage
of the industries of the country.
Meanwhile, cost of living Is declin-
Ing little.