Evening star., 1923-10-06
Business Travelling Side,cise,
$ Asserts BabsOn in Reuie,U|
Sees Same Tendency for Remainder of
Year--Now 10 Per Cent Aboue Nor
maI--Foreign Competition LiUeIy.

greater than it was in 1929.
The corn belt is practically as well
off as 1t was last year as far as pur-
prices for December delivery are
quoted at 72 cents n bushel. while
production is indicated at 3.076, 900, 600
bushels, which gives "a return to the
corn farmer of $2,214,720,000, COM
pared with last years revenue OF
s2,110,220 900. In other words, the re-
turns to the corn farmer in total are
actually higher than they We're last
year.
Wheat Growers Unlucky.
1t is the wheat farmer whose in
come has been greatly reduced and it
whole agricultural outlook in the
mind of the general public. The COM
bined production of winter wheat and
spring wheat will be about 1000, 900
bushels. 1t should produce $S2S,450,-
900. figured on the basis of s1.05 a
bushel quoted for December deliveries
Figures for last year were S62.091.000
bushels, at $1.23 bushel, with total
return to the wheat farmer of $1,060.-
312 900. This means that the wheat
grower realizes an average of 22 per
cent less than he did a year ago.
The farmers difficulty these last
! two years has been due to the abnor-
NAL spread between agricultural
uation is gradually righting itself. So
far the adjustment has been affected
by the lowering of the industrial
prices rather than the increase of in
tendency may be interrupted from
time to time by divergent movement
of either group. but will continue
over the next few years until a more
equitable adjustment has been
things the farmer has to buy and the
things the farmer has to SELL While
we are not out of the woods as yet, by
any means, the worst is over.,We may
he thankful for that.
Retail Trade Still Good.
The slackening of general indus
| trial activities has been due in q
measure to Increased foreign compe-
tition. This. of course. has been felt
! in the manufacturing fields and has
, not as yet reached the retail trade,
which is running about Is per cent
above year ago. The fact that goods
] mendous volume Is indicated by the
| figures for freight car loadings,
! which have continued to make new
! records during the past three months.
1 there were more cars loaded with
merchandise and sent over the rails
than any previous week in history.
Retail trade is still good. but will no
/ uOODt reUeCt TO some extent tne
J slackening which occurred recently in
| the business of manufacturing
An influx of foreign made mer-
chandise. a steady stream of which is
now going over our tariff wall. will
. tend TO keep general business here
from any activity which could be
! characterized as boom, Because of
! the foreign exchange situation and
general chaotic financial conditions
abroad, 1t is impossible for the Amer
/ lean manufacturer to compete with
! low-cost foreign made goods on an
even footing. During the next eigh-
teen months, however, this situation
| should adjust itself to a considerable
extent.
/ General business activity at the
! first of the year was running at 10
] per cent above normal. A slight
slackening in February gave way to
another rise to approximately the
| same point in March. By mid-summe er
we had crossed the normal line and
gradually worked down to point
per cent below normal by August l..
Our present position is 10 below nor
NAL. -
Present indications are that general