The New York herald., 1922-10-09
BUSINESS EXPERT
SEES IMPROVEMENT
Confused Sentiment Noted in
Some Places-WarnS~Against
Boom Talk.

A survey Of business conditions, as
has been made by j.. II. Tregoe. execu-
tive manager of the National Association
of Credit Men, in a communication
mailed last night to the $4,000 wholesale.
manufacturing and banking members of
the association.
~ discover he says "a confused
sentiment, in some places bordering on
the pessimistic and in others making
broad swing in the opposite direction.
say emphatically that we are not bor-
dering on a boom. There is nothing in
the situation at home or abroad that
would suggest one.
THE wheat crop has been disappoint-
ing as to yield and price. This shows
that values cannot be added to- by legis-
lation. With a smaller crop the prices
should be higher, but We are competing
with a fine crop in Canada which. to-
gether with the reduced purchasing
lower abroad, affects the price of our
own yield.
There is much speculation about the
cotton crop. 1t will undoubtedly be
short of original expectations. The car
ryover may be dangerously reduced.
This condition will affect the price of
the staple, but not to the point that
would happen IL export conditions were
more favorable.
THE condition of the anthracite re-
gion calls for great deal Of conjecture.
The settlement of the strike was not
such as to encourage confidence The
operators naturally are dissatisfied. The
miners are not coming back with alac-
rity.
I'm the textile Industry of NevA Eng
land the strike settlement. was too in
definite and may pD1ve merely an
emergency settlement The sales in this
district however, are showing a steady
Improvement.
I'm that active market centered in
Ohio we find sales of textiles and elec-
trical lines showing some little change
for the better. with improvements gem
eral over earlier months. Collections
are spotty. failures decreasing !: basic
costs increasing. and production costs
decreasing in some instances.
I'm the furniture market there is a
marked increase oyer last year and the
earlier months of this year.
The production of footwear Is show
ing an Increase over last year and the
earlier months of this year.
I'm metals sales increased over last
year and the earlier months Of this
year.
~ paiHto anu QflS lneTe mas Deen n
decrease from last year, but an increase
over earlier months of the present year
Iron and steel show increases in sales
over last year and earlier months coll
lections are unchanged, failures are de-
creasing. basic and production costs gem
orally are inreasing the outlook Is more
favorable and unemployment is dereas-
ing.. In the textile manufacture In this
market there is an increased sale over
earlier months, but little change from
last year.
"One significant fact is that the gem
eral price level has advanced Is per
cent. above the level of August, 1921.
This is unusual in normal periods. II is
strain on the Improvement OF funda-
mental conditions.
THE cost of living. on the whole.
however. has altered but slightly, and
for the reason that prices Of some food
stuffs have declined little"
Mr.. Tregoe summarizes the favorable
factors as follows:
l. Increased volume OF business, re-