The Washington herald., 1921-04-03
BUSINESS AND ECONOMICS
Business-Industrial Resume.


aging from organization which has better facilities
for collecting. accurate reformation this subject
than any other in the country. II emphasizes again
the fact that the country is marking time until such
matters as tariff revision. taxation and foreign re-
stions are definitely settled Al present no business
man knows where he stands. II high tariff is inn
posed ON raw materials. II will mean that the manu-
factursr must readust his cost basis Until he knows
what this viii be and until he knows whether he will
have TO pay profit taxes. it is impossible to
cut his prices to the lowest limit =.
Ausoaosii:s and Textiles Improve. N,,'<
lThe setter retail demand for clothing and wearing
apparef which noted during Easter week hasbeen
continued Department stores are finding necessary
70 send in repeated orders to il IN their stocks But
these ofdcrssas rule large Conditions and
prices have not become settled Sufficiently to
) large forwsrd orders s-asY e>7r'r@s .-'ss .
s-x The sutomoble and related industries seem to
show real signs Of revival The Ford company ne
ports that they back sx-day basis producing
more than 5000 day The same condition is
reflected in all other automobile concerns and has
tended to tire and accessory manufacturers These
improvements have been reflected back to the steel
industry, which has shown slight Improvement
during the week
Wage and Labor Questions ,..5
While there have been many wage reductions in
certain Industries the movement has Been by
general yet Agreements relative to wages and
working conditions entered into before the period of
depression for the part still in effect The
general reductions have occurred in the textile
ndustries and It is of interest to note that these Are
making the most rapid strides towards recovery.
Comprehensive reports on building conditions pdi-
cate thatsa resumption Of activity is being retarded
BY excessive labor costs. Many sections report in
creasing efficiency. in labor. 4 .7,,& -
The uncertainty as to what effect new tariff leg
isiasion and taxation may make in the cost of
lving is feature which is retardng the liquidation
, Of labor. The country really expect general
wage reduction until these matters are settled -
Income Tax Decision.
The decisions handed down by the Supreme Court
defining appreciation in the value of property FIN
come" within the meaning of the law will settle many
disputed cases. OF the four decisions the most inn
poxtant- was that Of the Ryerson involving,
fsad sale in 1917 of block of stock for $Iaso
go which ia 1919 had cost only $s6f,eos Thssceurt
hsid that the dereace between the amounts was
income ard was taxable as such. ~ -, :. ~,
Deerease in Capital Issues.
The New York Journal Of Commerce tabulation
shows that financing by American railroads and in
dustrial corporations in March amounted to only
$r367oI 900 This is the smallest total in two years
and only half as large as in March, 1870 Railroad
financing amounted to only $76soooo compared to
s$4<IoI;ooo a year agt
Foreign Trade. ~
Y No improvement noted in the foreign trade
situation during the week. The announcement of a
possible delay in the actual operation Of the Foreign
Trade Financing Corporation because of unfavorable
conditions abroad discouragng but officials of
the corporation declare that they going ahead
with their plans and receiving hearty support
throughout the country. The revival of foreign trade
. Aone of our greatest needs and this corporation
Supplies the most promising means of getting il back
into operation.
been engaged in making definite arrangements for
supplying aid to various industries 1t is announced
that cotton viii be the FIRST commodity receive
tenton and plans are already under way determine
the amount Of government aid necessary to finance