Evening star., 1921-04-23

| Slow but substantial gains in business
seem to be the order of the day. The
great purchasing power of the public
dispatches from many cities during the
past twentyfour hours indicate, is be-
ing manifested in various lines, the
| latest being oil and leather: business
! has held it's gains and is adding to them
| measurably each week; less unemploy
| meIt is apparent. though scattered 10
calities are exceptions which prove the
| rule; public confidence apparently is be-
ing restored conservatively and the out
look continues to improve.
From almost every section come re-
ports of a growing belief that prices
have reached or nearly reached the bot
tom, and indications are that upward
revisions may be expected in foodstuffs
| and other commodities. at least to some
slight extent, within the near future.
Cnevenness marks the readjustment
process in various lines. notably the
building trades. st. Paul and Mime
apolis, for instance, report building
boom that promises to surpass all rec
ords since 1898: Pittsburgh is working
on plans for the construction of two
thousand dwellings,. with one big
company declaring an open shop and
a 20 per cent reduction in wages of
carpenters. bricklayerS, painters and
plumbers; Cleveland employers. hav
ing declared a cut of 35 cents an
hour in carpenters wages-from $12o
to 90 centS-with that decrease pre-
bly, to set the standard for other
building trades. labor faces a halt in
housing work; while Philadelphia.
seeking to effect 20 per cent wage
cut, anticipates strike.
Credit Situation Improves.
Boston reports an undeniable i'm
I ~,,x Il
largely to the reserve banks cut
from to per cent in the redis-
count rate. The wooden mills of New
England are active. the leather men
are much more cheerful in the belief
! that prices have stabilized. retail
last years levels and the three
months building strike has been
broken with the declaration by the
employers of an open shop. The ma
jority of union workers, however, are
reported as still out
New York hears that the merchants
of the country. convinced that retail
prices have dropped as much as they
are going to, are about to stimulate
buying by convincing the public that
such is the case. The cotton goods
trade reports large orders for GER
! tain kinds of products, notably ging-
hams and percales. A healthy buying
movement also has been experienced
in broad silks.
SaIesmen's Reports Satisfactory.
Philadelphia, looking conservatively
at the facts, is making still further
reductions in labor forces and antici-
ating crystallization of the situ-
alton next month. Travelling statesmen
| report the fall demand for cotton
goods to be satisfactory. paralleling
ibeports from several hundred travel
ing statesmen sent out by Atlanta
firms doing varied business. Stocks in
each case are said to be almost de-
pleted and demand healthy for me-
tium priced goods.
Here in Washington President Hard
ing has set virtually all the depart
ments of government at work in an
endeavor to find a way to aid business
Congress is considering the tariff and
ere long will also get down to de-
tails on the new revenue law-both
of prime importance to business. The
railroads report increased loadings,
with indications of still further i'm
provement.
Crop Outlook Promising.
In Pittsburgh indications are that i'm
portant orders will be placed in the near
futu:e. Business men in Cleveland saw
tnat the process of readjustment is
moving along as rapidly as can be ex-
pected. Steadily growing business is
reported by the automobile factories
with continued improvement in the rub
Der industry. Retail business in Chi
caso is active. especially in articles
where the prices have been reduced ma
terially.
The crop outlook is promising. Chicago
reports. with liquidation as to prices on
farm products having been most thor
ough- Labor conditions in Chicago are
improved. with many idle men moving
off to the farms. Employment condi-
tions also continue to improve in De-
troit. an increase of 6.440 being reported
during the week by seventy-nine firms.