Evening star., 1921-05-28
HOPE ADMINISTR ALTON SUPPORT
: MAY GOFAR TOWARDR RECOVERY
Trade Interests Think It's Moral Influence
Will Restore Public Confidence.
Ending Buyers Strike.

Proba bly, the most encouraging
phase of the business outlook in the
United States is the fact that Presi-
dent Harding. Secretary Mellon and
Secretary Hoover are earnestly at
work trying to find some solution for
4he present-day difficulties. They re-
aiize and appreciate the fact that no
ynere act of legislation. no executive
order. no stroke of political 1eEer-
tlemain can bring about the desired
results overnight. but they are de-
iermined that insofar as government
can help business that assistance shall
be extended.
President Harding was much an
noyed at the widespread reports early
in the week that he would take OcCa-
sion on his New York visit to belabor
the retail dealer for an alleged main
tenance of high prices. The President
had no such intention, it seems, and is
convinced that the recent conferences
Of Secretary Hoover with the leading
retail interests of the country brought
about a feeling that all of the better
retailers were making or had made
sacrifices in proportion to the whole
saicrs in order to bring about a level
Of prices at which business can be
moved
There is a feeling in administration
CIRCLES that defiation has be, II force,.
would be dangerous to go further IL
ahat direction. This view comedies
with the contention oe manufacturers
and merchants that present prices on
the more stable commodities nave
reached point below Which tney can
not so except in infinitesimal frac-
rionS. LuXurieS, novelties and the
like still are commanding high prices.
but the markets should not be judged
by these.
Auto Trade LaSs.
The support the administration ap
parentiy is prepared 20 give TO buSi
ness of the country through its moral
influence may go far to restore much
needed public confidenC"; thus bring
ing to an end the buyers Strike which
began more than a yer 20 and
which only recently has shown signs
Of breaking.
Reports of the last twenty sour
hours indicate that a lsc:: OF con-
fidcnce in automobile prizes is affect
ing the trade in that indu= -
Retailers are compla ming that the
manufacturers are not giving them
the necessary assurances III Euaran-
: es which would justify :.:era in plac
ing large orders This condition may
is the temporarily interruTted return
cf this vast business TO normal may
proceed.
Prices Are StiHeninE.
Prices are stiffeninS in many lines
Of goods, the reports from various
centers indicate. and this is particu-
larly true of cotton goods like muslin
nainsooks. etc. New prices of these
goods show increases over those last
announced January 3. Knitted goods
also show a gratifying stability.
In mems clothing the new fall prices
announced by the leading manufac-
turers in the Chicago districts show
slightly increased figures over those
asked for spring suits. but both suit
and overcoat prices are down from $40
to SIS a suit from the prices for last
fall. The belief exists that the fall
prices in mems clothing are stable.
Crop Reports Encouraging.
Reports from the agricultural dis
tricts are very encouraging. There
Is to be an early wheat crop in the
southwest. 1t is believed that the
cotton acreage to be reported by the
government June l will show a much
desired decrease from last year. In
the northwest the grain crops are
booming ahead under the most favor
able circumstances in years. Govern
ment aid in moving the heId-over
stocks from last year and in financing
the export Of a large share of this
years crop is expected as a result
OF the financial conferences held here
the past week.
Western bankers soon are to be
called into conference with Secre-
taries Mellon and Hoover and further
plans will be discussed for aiding the
export corporations recently formed.