The Washington herald., 1920-04-04
4 = NATIONAL MARKETS
previous March of which there is
record.
Less Pressure I'm steel Industry.

record.
Less Pressure I'm steel Industry.
The signs of easier conditions
that are beginning to appear In the
steel industry are not reflected IN
prices, but rather in a lessening of
transportation difficulties and in
material. Such additional price
changes as have occurred have been
in an upward direction, yet in
stances are becoming fewer where
buyers offer premiums to cover re-
quirements. and the fact that the
leading producer still adheres to the
March 1919, schedule of prices is
not without influence. With a bet
ter car supply, except Ia the Chi
cago district, the gain in output has
continued, and the rate at some
blast furnaces and steel works has
risen close to full capacity. Gen
orally. trade features are more ia
Ivorable, not the least encouraging
factor being the more settled con-
dition of labor, and the prospect
seems to be for a further recovery
of production. Yet higher costs on
pig iron are expected to result from
Following the removal of price con-
troll. and a rise in iron ore and the
probability of higher freight
charges are elements in pig iron
selling plans for the last half of the
year.
Rising Costs n Textile Factor.
An important factor in the pres
ent and future textile price situa-
ton appears in the rising costs of
production, and in the prospective
demands for further wage advances
at mill centers. News from factory
points indicates that employees will
endeavor to secure an additional
share of the return on merchandise,
and manufacturers agents are be-
ing advised that materially lower
prices for fabrics are not likely to
soon be witnessed. At the moment.
prices are either firm or are tending
Upward. print cloths haing reached
a new high basis. and some recov-
cry from the recent depression has
occurred in raw silk markets. Yet
in the dry goods trade. as whole,
there is a clearly defined movement
toward growing conservatism in
buying, and hesitation in clothing
circles, because of the extreme
prices, remains a conspicuous fea-
ture. While early relief from the
high textile prices seems improb-
able. yet the steady inflow of goods
from abroad may in time make a
deeper impression on prices here.
land it is significant in this con-
nection that importers of woolens
expect a heavy influx of merchan-
disc next fall. Meanwhile, exports
are less easy to effect.
Less New Business In Hides.
With tanners requirements ap-
pareRtly satisfied. at least for the
present, quieter conditions have de-
veloped in domestic hide markets,
following the recent good business.
Accommodations in the hands of
packers are not wholly absent,
heavy native cows not having sold
in any volume. and the big buyers
have not met some of the prices
asked for country stock. claiming
that the late advance was not justi-
fed. While leather trading is not
generally active, yet conditions re-
feet further signs of improvement,
and the attention of the trade has
been attracted by reports of large
sales to British interests. Confirma-
tion of this news is lacking: but the
favorable turn in foreign exchange
has oCcasioned talk of a revival of
export purchasing. and representa-
tives of large British concerns are
said to have been in close touch
with tanners here. Considerable
foreign business continued to be eff
fected until sterling. exchange fell
below $3.50. and it was predicted
that negotiations would be resumed
at around this basis. especially as
leather prices have declined since
the cessation of important transac-
tions with the United Kingdom. Yet
il is pointed out that leather prices
in England have eased off about in
proportion with the reductions in
this country.