Every evening, Wilmington daily commercial., 1922-11-27
LAY FOUNDATION FOR
BETTER BUSINESS
What is Happening Now is an
Indication OF What is
to Come.

"a true mea sure OF the existing
state of business" says Dun's Review,
''can only be made when the fact is
considered that this is normally a
period for the development of more ir-
regular conditions. The usual season.
al tendencies are present now in the
abatement of demand in primary cham
nele and the acceleration of retail dis
tribution, but close observers look be-
yond these phases for the really sig
nificant features. The latter ap-
pear in the higher rate OF production
in basic industries: the resumption OF
deferred dividends or increases in such
payments; the strengthened banking
position: the recovery OF commodity
prices. and in other movements which
reflect the betterment in the general
situation"
Comparisons of commodity prices
with nthose OF a year ago show that
prevailing levels are apnreciably high
er in many cases. and new record
for the season was established by
wheat last week before reaction oc-
Cured
Certain phases representative OF the
improved conditions stand out promi-
nently in iron and steel. II is OF sig
nificance that eteel production, which
| (. was thought would not exceed a
20 per cent rate this year. now closely
approXimates so per cent. and that
sustained operations are foreshadowed
Another week has brought further
easing in domestic hides. price con-
cessions occurring !n the absence OF
| important new demand. With tan
ners still out Of the markets for any
siZable quantities Of raw material the
situation is weakening, and transac-
tions in foreign hides are chiefly at
terms favorable TO buyers. In calf
skins additional declines are witness
ed especially in the west These con-
ditions have an influence in the
leather trade, where business con-
tinUes mainly quiet and price Yield
ing is more apparent.
The two great deterrents 10 the re-
alization OF even prosperity" saws
the Magazine OF Wall street. ARE the
unsettled economic condition OF
Europe and the hard plight OF our
farmers. Europe is too timorous. too
unsettled or too poor 10 buy freely
from US. and the American farmer
gets so little out OF his products that
his buying is restricted"
Dun's Review says: "Disappoint-
ment over results in some quarters is
not lacking. yet there has been a de-
cided revival this year in mos. mark
cts, and buyers policy OF hesitation
and waiting has been largely replaced
by disposition 10 operate ahead more
freely. II new commitments have re-
Gently decreased in certain important
trades, Il is partly because require
ments were well covered by previous
purchases. and some easing OF price.
after an extended upturn does not
seem surprising"
The same general phases which have
characterized the drygoods situation
during recent preceding weeks con.
unue. Demand in prim-ry channel.
has not been maintained at the hl~l
rate Of October. but producers ar,
busy filling orders previously placed
and output is large. than heretofor.
IN TWO years. While a scarcity o
workers is complained OF in some sec
tons, labor troubles due 10 wage OF
other controversies have eubsided. An,
mill operations meet with less liter
ruption.