Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-02-23
Business Summary
Home and Abroad

Washington. d. c., Feb. 23--The
business situation Mt home and
abroad as summarized by the De-
partment of Commerce shows do
mestic conditions to be:
Cotton consumption in January
at 1864 bales. as shown in re-
ports to the Bureau Of the Census.
Department OF Commerce, repre-
sents an increase of % percent over
the preceding month but Is @ per-
cent below consumption in January,
1913. Bookings OF steel castings IN
creased In January but are about
oO percent below January of last
year. Sales Of fabricated steel de-
clined from the preceding month
and year ago. Production and un-
filled orders of merchant piR iron
increased over December. Produc
ton of bituminous coal increased
over the preceding month and a year
ago while anthracite production de-
clined. Construction contracts
awarded in January call for an In
crease in expenditures of about 3
percent over the preceding month
ana ~ percent over u year ago. Pro-
duction of California redwood de-
clined from the preceding month
while shipments increased. Produc-
ton in oak flooring in January was
greater than in the preceding month
ana year ago. Unified orders for
oak flooring increased and stocks
declined. A combined average of
Wholesale prices based on 4O4 COM
modities remained unchanged at 81
percent above the pre-war average
Wholesale food prices declined
about 8 percent in January and at
g; percent above the 1913 average
may be compared with II percent
In January OF last year. Sales of life
insurance declined seasonally from
December but were greater than
January of last year. January pre-
MUM collections were greater than
a year ago.
Foreign Conditions
Belgian business is still charac-
terized by artificial prosperity due
to aggravated depreciation OF the
franc. according to cables to the De-
partment OF Commerce. but heavy
stodk exchange transactions in In
dustrial shares at rising prices In
dictate confidence. January devel-
opments in Sweden were favorable
and signs are seen OF further I'M
provement with increased sales of
wood pulp and lumber. British for
eign trade was 16,OOO.OO0 less in
January than in December, due en-
tirely to decreased imports; exports
increased slightly. Serious labor
troubles interfered with industry in
Norway and Holland and Business
In Denmark Is depressed By depree
citation of the Danish crown to the
lowest point since the 1920 depres-
sion. Improvement in exchange
rates and coffee sales forecast q good
trade year in Venezuela. Merchants
there have liq,iidated most Of their
stocks and are placing credits
abroad for new purchases. The out
standing feature in Guatemala 10
heavy shipment Of banas from the
west coast from which q large trade
10 expected to develop. General con-
ditions in Nicaragua are better than
at any time in two years on account
OF good coffee and sugar sales. Tight
money temporarily hampers bust
ness In Australia where imported
goods are reported overstocked, but
q normal wool clip at improved
prices Is expected to cause early re-
covery. Retail buying Ii increasing
In the Philippines and the crop out
look IL excellent. Some improve
ment Is reported also from Slam and
Indo-China az a result OF renewed
rice exports and business In improv-
ing in the Dutch East Indies where
native markets are strong, except tea
and rubber.