The Washington herald., 1921-02-07
TRADE FEELS WAY
SLOWLY ON THE
ROAD TO NORMAL,
Dun's and Bradstreet's
Reviews See Continual
Improvement.
MEAT PRICES LOW
Reports From Pacific Show
Rains Have Helped
Winter Crops.
MEAT PRICES Low

Improvement, slow and cautious,
but nevertheless sustained, is still
the keyword in the distributive
branches Of the leading apparel
trades. says Bradstreet's Weekly
Review. Less decided progress or
actual recessions, however, still
characterize some of the big basic
lines as. for instance, iron and steel,
coal and lumber, and impart an ir-
regular tone to the general situa-
tiOn. Mail-order trade is not equal
to year ago. Industry still suf-
feTs from the blight Of unemploy-
ment, an aftermath of last years
lessened demand. and numerous re-
ports of assumptions or Of increases
in time worked in some lines are
partly balanced by reductions in
employment in others. notably the
railroads, due to lessened traffic
Something like a reaction is visible
in speculative markets, part of
which is due to higher rates for call
money. Foreign exchange moves ir-
regularly. Prices OF comodities, es-
pecially of those articles dealt in
speculative markets, incline down
ward, the lowest prices of this
year. and in some cases of four
years. being touched by many, es-
Tecially the grains and cotton. Meat
prices are lower. due to weakness in
cattle and sheep, which are at the
lowest in five years. Collections are
a shade better, but have to be
pushed. Credit strain is less and
failures are fewer. Immediate
buying is still the subject OF note.
Even retail trade is a shade better.
Idle Cars More Numerous.
Efforts to induce railroad en-
ployes to see the need of that in
dustry contributing to the general
lowering of labor costs are being
bitterly contested. and in the mean
while, shop forces, operating ele-
ments and ordinary labor are being
reduced heavily, the latter also suf-
fering wage cuts. Idle cars are
more numerous than for years. The
weakness in the petroleum trades is
more pronounced. crude oils being
further reduced, and gasoline and
kerosene are being marked lower.
About half the woolens goods
machinery of the country was re-
ported active on January l.
Reports from the Pacific Coast are
that heavy rains have helped winter
crops, and SHOWS in the mountains
have improved the outlook for Ir-
rtgation interests and hydro electric
power concerns.
A significant feature in the trade
situation is the report of January
sales of two large mail-order houses
at Chicago. One aggregated S15.-
597.766, a decrease of 47.11 per cent
from last year, and a big reduction
from recent months. The other to-
tailed S5,66O,431, a decrease Of 3446'
per cent from last year.
Dun's Review says that while
commercial movements still lack
uniformity, the more favorable
trend recently noted is maintained.
The first month of the new year,
following a period of progressive
reaction, brought some progress
toward recovery in certain direc-
tionS, and a Strengthening of con-
fdence that provides a basis for
further improvement along con-
servative lines. Irregular produc-
tion results continue in different in
dustries, but resumption of work,
usually on part time, are being more
frequently reported, and from this
point Of view the outlook Is encour-
aging. The reopening of mills has
been largely confined to textile
branches in New England and else
where, yet some other plants are
slowly increasing output, and the
general employment situation, al
though far from satisfactory, seems
a little better.
Liquidation Of retail stocks, how
ever, is being stimulated by offer
ings of goods at continued reduc-
tions, and this is leading to a grow
ing demand for small lots of mer-
chandise to be used for replacement
purposes. Purchasing for spring is
also becoming rather more confident,
but it is still characterized by very
noticeable caution and is likely to
be restricted mainly to essential re-
quirements for some time to come.
With the heavier marketings OF
farm products, an easing of money
conditions in some Of the country
districts is evident, and reports of
mercantile collections. while vary
ing considerably, reflect improve
ment in certain instances