The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1920-12-29
NEW BUYING MOVEMENT
is PREDICTED FOR
NEW YEAR
Business Experts Believe Business
Will Pick Up January l and
Normal Times Will Follow

Business should be picking up a.
bout the first of January, according
to the federal reserve board. BY
that date says the board, the smash
ing of wartime prices will be COM
pleted sufficiently to usher in nor
NAL times.
The latest business forecast by
the United States Chamber of Com
merce says that merchandise stocks
by January 1 will be smaller than
for years, making a new buying
movement probable.
Other guesses for revival OF
business range as far ahead OF
April. In the steel industry, long
considered the barometer of gener-
al business conditions, new buying
movement is expected to start ell
ther in February or March. In the
building trades a buyers market
prevails. But where inquiries are
for deliveries after March, the SELL
ers are not anxious to quote prices
indicating that they look for big
buying by that time.
| What's Really Wrong
The present business slump is not
basically serious. Business is bad
because the cost of living is being
smashed. Everybody wanted that.
Temporarily, it is bitter medicine.
Initiation is being squeezed from
prices. When the downward move
ment is completed and buyers are
sure that bottom has been reached
things will go ahead. No danger
of panic. The situation is we'll IN
hand.
Meats at Pre-War Prices
Armour & Co., announce that
wholesale pieces of fresh meat cuts
both beef and pork, are now below
the prices of April /, 1917, and in
some instances below 1914 prices.
Growers of livestock and feed
stuffs shoulder the loss.
Other Price Crashes
Cuban raw sugar appears in New
York offered at less than four
cents a pound. No buyers.
Silver has fallen to a new low
record, around 60 cents an ounce:
The highest price was <$1.37 an
ounce, reached January IL, last.
: Tobacco growers are in bad shape
Raw tobacco in Kentucky is bring
ing almost two-thirds less than a
year ago.
American farmers have lost at
least $6,OOO,OOO,O0O,OO0 in three
months by the slump in prices of
farm products and livestock. This is
the estimate of Thomas. ]. Wilson,
president of the Institute of Ameri-
can Meat Packers. ....
Railroads Plan Big Buying
The steel trade expects 1921 to
break all records in production Of
steel rails. The roads hope to ar
range the necessary financing early
in the year.
There is now a surplus of freight
cars, President Gray of the Union
Pacific predicts a record traffic
movement in the West the last eight
months of 1921.
Foreign Trade Changes
Blk exports are turning their
eyes awaya from Europe. Many
think the big foreign trade oppor-
tunities of the next few years will
be in the Orient, principally in
China.
Europe is now undertaking Am
ericans in Argentina, especially in
steel products. Germany has reap
peared strongly in the steel export
market. China lands cargo Of steel
plants in Seattle at less than the
American price. Said 10 have no
broad significance.
Coal Prices Down
Soft coal has dropped an average
of Sc ton in the big mining dis
tricts east of the Mississippi. This
applies to prices charged by the
mines. Consumers should benefit
soon. Cheaper coal should greatly
stimulate manufacturing. tt reduces