The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1921-02-02

Galveston. Indicate that the rate of mar
keung Is not so far below normal" Sew
eral districts report 20 per cent of the
cation crop unplckcd and there is n gen
eT1i proBllSe of more diversified plant
ing in 1921. The general sentiment of
the tobacco growers is in favor of Il re-
duction of acreage. Both dealer and
buyer display a waiting attitude.
Milling operations increased materially
in January over December even though
they do not compare with last years
iisures. Kansas City mills operated at
- per cent of capacity as compared
with ~ pei cent in December. Country
Ills are buster than the larger city plants.
In hyeStock AN exceptionally mild win
ter has made for a large amount of graz
ing 50 that little feeding has been neceS-
Sary IN many sections. and conditions
have been beneficial to the stock" The
San Francisco district reports range.
feed and moisture conditions favorable in
nracticallv all sections. and livestock
thriving"
The movement of livestock to market has
been lighter. Prices at Fort Worth
were at an exceptionally low level dur
ing DcccmbCr. in spite of the small re-
Ceipts. I'm the San Francisco and st.
Louis districts the average shows little
change from the preceding month. Ium-
Der prices have dropped in the Philadel-
nhja district. with the exception of the
better grades of white pinc, which adj
vanced 81 per thousand. Consumers.
however. demand further reductions from
retailers who have already received sub
StGntlai reductions from the manufacture
erS. Tho latter claim that the present
prices for lumber at the mills viii not
pay for the cost of production
In view of the lack of demand. pro-
duction of lumber continues to decline.
Some part of the decline in prices is at
tributed to closing for annual repairs.
overhauling and inventories. B]ituminouS
coal production has increased though the
average production per day has been
steadily downward. The anthracite coal
production has also increased and dur
ing January there has been continued
recovery from the holiday depression
ami the weekly output is again approach
ing the 10 million ton mark"
In spite of the mildneSs of the weather,
n strong consumers demand exists. Crude
petroleum production has shown n de-
crease both in the Kansas City and Dal-
las districts As we'll as the Texas coastal
fields. I~nadequacy of pipe line and
storage facilities are given as the prin-
cipal reasons, however, but indications
are that new pipe lines being completed
in central west Texas and other dis
trlcts will help to revive production.
The iron and steel inquiry shows "a
marked increase in competition for new
business The independent companies
have reduced wages II to 20 per cent.
n United States Steel corporation. how
ever. has made no change in wages, The
latter Is Operating at practically full
capacity in the Pittsburgh district. and
at about so per cent of finishing capacity
in the Chicago district.
Among the non-ferreous metals. the
market has been helped by the recovery
in sterling exchange There has been
some improvement in the cotton textile
industry of New England during Janu-
airy, especially in the market for yarns
for which there has been an increased
demand and a resultant increase in
prices. The report from the Boston dis
trict says: AS a whole a very real
effort has been made to place values on
a level that buyers viii feel that the
sterilization 50 necessary TO attract a
normal demand, has been attained. Quo
%tationS upon standard cloths for the see
Ond week in January indicate. in fact.
that price reductions in manufactured
goods have outrun the decline in raw ma
~terial.'
Some shoe factories in the Boston dis
trict have been reOpening with the re-
suit hat the leather market has regis
tered some price advances" 1t would
appear that the drastic declines in the
prices of hides have been arrested dur
ing January and calfskins nave even
advanced slightly"
The foregoing analysis confirms the
ntt-repeated statement made IN these deS-
patches during the last month that the
bottom has been reached in prices i'm
many ines and that slight advances may
he expected. The federal reserve board
quotes a report from the st. Louis dis
trict as to the retail trade The pu bile
is as discriminating as heretofore. but
is purchasing where prices seem to
square with it's idea of ~cheapness." Buy
ing in every line, in other words. depends
upon satisfactory evidence that the bot
tom has been reached. The federal re-
serve board statement shows that gcner-
ally speaking this month should see an
even greater revival of business than was