The Washington herald., 1921-01-09
MAIL ORDER TRADE
SEES BETTER ERA
FOR PRESENT YEAR
Official of Sears, ROebuck
& Co. Looks for Salts
factory Year.
OPEN WINTER FELT
Oil Trade Reports Contracts
Closed That Have Been
Hanging Fire.
OPEN WINTER FELT
Special to Business Section Of The wash
ington Hsrlld.)

Special to Business Section Of The Wash
ington Hsrald.)
CHICAGO, Jan. S.-A. H. Loeb,
vice president of Sears. ROebuCk &
Co., says: Business is picking up
somewhat. and I look for a salts
factory year. A year ago brought
a buying orgy and skyrocketing.
January makes no better Compari-
sons than December did, but we
look for big business. Heavy stuff
is stagnant because of the open
winter. People who were reorder-
ing oyershoes last winter at this
time have not bought any. Their
winter clothing is similarly neg
lected. but prices are generally low
enough.
Il look for some reaction in some
lines. Our recent inquiry for GER
tain grades of sweaters revealed
exhaustion. Replenishment requires
. FIRST the spinning of yarn. Enlight-
tened self-interest should adjust
the wage disputes"
Marshall Field & Co. reports this
weeks wholesale drygOods distribu-
tion, orders from road statesmen and
collections below a year ago, but
more customers in the house, and
ginghams and percales being taken
rapidly at new prices.
All Coal Markets Inactive.
The Black Diamond reports mac
tivity in all markets, with no de-
mand for bituminous and virtually
every field closing down some mines.
Little coal flows to markets on con-
signmsnt, so bottom prices on spot
offerings hold fairly firm, except on
raHanFA1 Cold o =
would Immediately strengthen the
markets. Car supply is far in ex-
cess of production. There is little
indication of reawakening of ex-
port demand for the present. Penn
sylyania production Euns high, with
no outlet. Anthracite is moving at
a somewhat lower premium, but
tonnage of regular producers is
smaller than demand warrants.
There is actual shortage of prefer
red sizes.
Indiana and Illinois have no de-
mand at any price except for best
domestic sizes. The Northwest is
stagnant. Industrial activity must
shortly revive and coal consumption
will get back to normal with a
profit. The railways must handle
approximately 55OOOO, ,OOO> tons of
bftuminous in 1921.
The oil trade reports some con-
tracts that have been hanging fire
closed in the last two days, in
some cases at prices above the mar
ket, but gas oil is being pressed
for sale.
Outlook Encouraging. Says Armour.
Armour & Company reports
Marked improvement encouraging
ly maintained. Demand for pork
products is strong and prices firm.
Beef trade is continuing to improve,
with prices steady. Exports are
small and collections still slow in
the South and West"
The Modern Miller says: Snow
covering and unreasonable weather
cause some apprehension in the
winter wheat belt. but no harm is
so far indicated. The condition is
spotted, particularly in soft winter
sections. Illinois and Indiana show
fly damage. Interior movement of
wheat continues restricted"
Guy Houston, president Of the
First Joint Stock Land Bank of
Chicago. which has outstanding
s1S,OOO,0OO first mortgages on farms
in Illinois and Iowa, believes re-
vival Of the War Finance Corpora
tion will materially assist farmers.
Three-fourths Of Iowa banks have
deposits Of $500, 900 or less. Perma-
nent relief can come only through
larger funds for mortgages. There
is little selling of land and actual
prices have sharply declined. A
good corn belt farm in Shelby
County. Ill, sold recently at $3.50
an acre, although its owner refused
$3.50 last spring, expecting $500.
Mr.. Houston says: We believe in
the corn belt farmer and corn belt
land, the cheapest land on earth
today, all factors considered"
Rail Executives to Abolish OniceS.
1t Is understood that the Associa-
tion of Railway Executives will
abolish all expensive offices and re-
tain merely secretary at nominal
salary for routine business, all
forms Of publicity reverting to in
diyidual lines. The public fayors
as much old-fashioned competition
as practicable. During the war the
association expended $500, 900 in one
campaign.
d. E. Clinck. president of the Com
merctal Travellers Association, ar
guing for 20 per cent discount on
mileage books, calls passenger traf-
nc mems attention to the reductions
by Canadian railroads as a recogni-
tion Of receding costs and the un-
popularity of general fare advances
Proposed mileage would be inter-
ehangeable in denominations of
1000, 1000 and 5000 miles, but COM
mercial travellers would accept a
lo,oOO-mile book \
Melvin A. Taylot, president Of the
First Trust, says: Liberty Bond
campaign pep is necessary in plac-
ing foreign securities" Reviving Of
the War Finance Corporation will
merely delay matters. No more gov
ernment securities should be offered
at this time. Money and credit will
continue dear. Railroads need $780,
100000 for renewal purposes alone
this year. Interest rates should not
decline appreciably soon, and 1921
will not see cheap money. Bank
counters may offer per cent, but
he doubts it.
Commodities prices, he says, must
depreciate further in some lines to
consumers. Prices should event.
ually stabilize at about so per cent
above 1915 figures. Some production
costs must remain high because
fixed charges on plants, based on
100 per cent production. will be as
zaszad AGAINST so n IN par cant nr.