Evening star., 1922-01-14
BY j. c. ROYLE.

Special Dispatch to The star.
NEW YORK, January 1.-THE
markets of America today are buy
ers' markets and millions of dollars
are pouring into them. Men on the
customers side of the counter. for the
first time in some years, are able 10
raise a voice in the naming OF terms.
Manufacturers, merchants and dis
tfibuters are anxious for their Dusl-
ness and are competing keenly to get
1t. That is what conservative buyers
have been waiting for and as q con-
sequence they are removing the eias-
tic band from their pocketbooks anu
spending the contents freely.
Within the last few days, three ran
roads have announced purchasing
urograms which include items rang
ing from brass tacks to trelSnt cats
and which aggregate over s1o'o'''ooo.
Other roads are heavy consumers U.
commodities in other lines. The effect
of this buying, which is spreading 10
the individual. is setting every nerve
or the business system to tnSllhS
with activity from the raw commodl-
ties to the finished products.
Low money rates, for both can
money and time loans. which struck
new levels during the last week. are
helping buyers to supply their needs
and this trend toward easier creuit
bids fair to so even further Wheh the
interest requirements of government
and corporate bond issues. uue Noh-
day, have been met.
Discriminating Buying.
The buying now going on. great as
IS it's volume, is discriminating buy
ing Big purchasers know from grim
experience with empty pockets what
they can do without. But they are
buying what they need and buying IL
in larger quantities tompeti,ioh Is
growing sharper daily and Will con-
tinue to do so as the small purchasers
get into the market more generally, as
they are confidently expected to do.
The spring of 1922. therefore, will be
a period of cost reduction for the sue
cessfuI business man. Such men have
discovered that unless they trim their
sails to the winds of competition they
are heading into danger, and they are
cutting costs and putting checks on
overhead at every possible point.
Once again firms are selling service
to their customers as well as goods.
Wholesalers and jobbers in many dis
tricts are taking part of the burden or
merchandise-carrying Off the weaker
shoulders of their retail customers by
laying in larger stocks themselves TO
meet the customers requirements
quickly.
Labor Attitude Favorable.
In most Instances labor is aiding
rather than combating the produc-
ing costs reductions. Employees are
assuming the attitude that it is bet
ter, as one Chicago man expressed
it, "to work forty-eight hours a week
for $40 than to demand a forty-hour
week for $50 and have no work"
One of the first industries to be af-
fected by the buying wave has been
tin plate The orders of the big oil
companies and the Gamers, as well
as demands by the railroads for this
product for carproof protection. have
stimulated production and resulted in
an advance in the market for tin
metal.
Steel production is on a steadily
increasing scale throughout Pennsyl-
vania Ohio and Illinois. Automobile
manufacturers have been heavy buy
ers Of certain steel products. Tire
manufacturers are preparing for
spring rush and adding to their pay
rolls to increase the present output
of 100000 tires day.
Weather an Aid.
Favorable weather has bettered
range and crop conditions throughout
the southwest and agriculturists are
gradually recovering buying power