Evening star., 1923-07-07
MERCHANTSAWA|T
GOODS DEMANDS
Business Men Sure Trade
Will Pick Up in FaII-0iI
Storage Big Problem.
BY J. C. ROYLE.
special Dispatch to The Star.

special Dispatch to The Star.
NEW YORK, July IA waiting
game. That is what producers, manu-
facturers. distributors and merchants
In score of different lines are play
ing today. They are perfectly content
FNo wait for the cat to jump. confident
In the belief that conditions that make
for prosperity and increased business
have not changed and that the pres
ent seasonal slackening will be sue
ceeded by an Increased volume of bus
iness before the season is over.
AS a consequence. the question OF
Storage is uppermost in their minds.
Storage space and facilities are at a
premium. and the financing Of storing
products for better prices or more ad-
vantageous periods is involving mil
lions of dollars.
Despite the seasonal slowing down.
rev businessmen view it as anything
but temporary. One reason for this
attitude is that many of the condi-
, tions which preceded the collapse of
1920 are absent. Transportation is
functioning smoothly. cars are in sup
ply, and there is no pyramiding of or
derS which remains to be toppled
over. Merchants and manufacturers
are buying from hand to mouth. and
the credit situation is easy. The re-
action in commodity prices. therefore,
10 not regarded with great concern.
Oil Storage Facilities.
The question of storage is perhaps
most pressing in the oil industry Re-
ductions this week in the prices of
crude in certain fields have given
iample warning that continued pro-
ductiop and marketing carries danger
OF further price drops with it.
The peak of the California produc-
tion is expected to come early in
September. This will be met by 39,-
o0O.0O0-barrel storage space now near
ing completion. Every big oil company
in that state is increasing tankage
facilities as fast as the supply of
materials and labor will (permit
When the storage projects. now in
process of construction. are completed
space for more than 100000 barrels
will be available.
The problem is even more pressing
In the mid-continent field where pur-
duction has not. . Steel companies the
country over are rushing deliveries
on plates for tankage.
Basic Commodities Being Held.
Both cotton and wool growers are
preparing to hold their products for
men are steadfaStly refusing to sell
more wool at present levels and hav-
sng disposed of a part of their clips
at good prices are storing the re-
mainder or shipping it to eastern
markets on consignment where 1t is
being stored.
Although some cancellations have
been received for wooden goods since
commodity prices turned downward.
these have been far from heavy and
with most interests in the trade pre-
dftcing higher prices at the opening
tpf the lightweight goods season
which n nlaca next week huyerS
of goods are holding off and so are
manufacturers.
Cotton Growers to Hold Crop.
While the cotton situation Is not
bright. neither producers nor dealers
are depressed by the decline in the
are better fortified than ever this
year to market their crops advan
tageously and there will be very little
distress selling" Loans to growers
agencies have adequate plans to
finance producers and warehouse ia
Cilities are being enlarged. Southern
growers are fully convinced that the
world demand and a holding cam
paign early in the season would sur
prise no one.
Automobile Companies Storing Cars.
Telegraphic reports to the automo-
bile manufacturers show that sales
II country districts are PICKING up
fast where crop prospects are Inn
proving. One leading company sold
more cars this week in a certain
prairie district than during any week
since March. There are an increasing
i, number of signs that the effects OF
the stock market slump have passed
80 far as the automobile industry
is concerned. So confident are some
of the large companies that fall Will
see return of heavy automobile buy
that 1Laila Die M AHnS b1 StDT-
ing cars is being taken advantage of.