The Washington herald., 1920-06-21

that of April. Whether the present
relatively favorable showing will
continue will depend mainly upon
weather developments and the sup
ply of coal and coke in the future
Meantime, interest is still strongest
in completing existing contracts and
in reducing accumulated stocks at
finishing mills. While some prog
ress has been made in relieving the
congestion, a return to normal con-
ditions is not likely to be witnessed
in the immediate future. Confirm
ing recent predictions. basic pig
iron, Valley furnace. has advanced
to $44. but there are sales of other
products here and there at prices
below the high levels of the year
Hides and Leather stiII Depressed.
1t will take sizable trading to
make any sort of an established
market in hides and leather, and
the largest interests, for one rea-
son or another, are not yet disposed
to operate. Prevailing monetary
conditions are assigned as one of
the causes of the dullness in busi-
ness, but price considerations are a
more potent factor. and buyers and
sellers ideas about quotations are
out of line, even after the recent
considerable reductions. With hides
continuing to accumulate, packers
admit that they would accept some
further concessions, but are disin-
clined to meet the views of pros
pective purchasers. The weakest
spot in the situation is in calfskins,
which apparently have no bottom.
Without fresh sales of account.
prices have continued to recede
rapidly from previous low levels,
and Chicago city skins have been
offered down to 80 cents.
Continued LslI In Dry Goods.
Liquidation of both merchandise
stocks and contracts remains one
of conspicuous features in textile
Such a phase is most ap-
parent in silks and woolens, but Is
not wholly absent in cottons, and
the lull in general trade, except at
retail counters. continues unbroken.
While there is less uncertainty re-
garding political Developments, fol-
lowing the Chicago nominations,
enough doubt exists about some
other matters to promote hesitation,
and manufacturers are disinclined
to accumulate holdings of goods for
which there Is an irregular sale at
present. Curtailment of production
has assumed rather large dimen-
sions in some branches of the in
dustry, due mainly to cancellations
and revisions of orders, and more
Is being heard of the influence on
domestic conditions of the large i'm
ports Of foreign merchandise. In
cottons alone. the arrivals during
April were 945 per cent greater, in
yardage. than those of that mon tn
Of 1919.
Smaller Domestic Cotton Consump-
tion.
From one month to another this
year, domestic cotton consumption
has varied considerably, with the
May figures falling about 26,700
bales under those of April. This
decline, which brought the total
iown to 541.0S0 bales. exclusive of
inters, may or may not reflect the
recent abatement of demands in dry
goods channels, but last months
consumption Is the smallest report
ID by the Census Bureau thus rat
his year. excepting the 516,5s4 bales
II the short month of February, and
iiscloses a decrease of 50,6oo bales
rom last January's aggregate.
While a favorable comparison is |
made with the 4s7.s34 bales of May,
asst year, this showing Is offset by
he fact that last months exports
" 363.104 bales. linters included.
all 81, 500 bales short Of those of
Day. 1913. and are $4,000 bales less
nan those OF April. this year.