The Washington times., 1924-09-27
TRADE RE VIEWS
SEE BUSINESS
GAINING
Dun and Bradstreets Rsporr
Trade Better Than .
Last Week

NEW YORK, Sept. GA nat.
ural stimulus to business has come
with the advancing season, al
though expected autumn gains
have not developed fully, says
Dun's Review. Progress during
the third quarter has been sub
stantial, but Il; has varied consid,
eraply In different trades, and
operations remain under restraint
even in lines where activity has
increased most. The lack Of q move
vigorous commercial expansion is
partly accounted for by political
conditions, which still cause hest
tatton, and in some cases com.
mitments are being held back be:
cause Of doubts about future prices.
Uncertainty in the steel industry,
with an abatement Of demand, has
resulted from q new method OF
quoting prices, while cotton goods
markets have been unsettled again
~ wide fluctuations In raw ma
terial prices, due to changes IN
crop estimates. Yet some of the
influences which now hinder bust
ness are not likely to prove more
than temporary, and there ID clear
evidence that, despite existing draw.
backs, the situation as q whole
shows improvement. Even with q
continued disinclination in most in.
stances to produce beyond orders
or, to buy beyond actual needs, the
volume Of transactions has en-
larged, and reports from widely
separated sections disclose a better
sentiment. The stronger confidence
Is supported by several favorable
statistical. measures, notably the
returns Of freight traffic, and the
chief disappointment seems to lie
in the fact that trade has not
broadened suddenly with the open
ing of the fall season. Recovery
from depression, however, usually
does not come quickly. and the
recent moderate and irregular
gains have been surprising only To
those who had expected q rapid
revival.
Uncertainty In Steel Trade.
The confusion arising In the steel
trade from the change in the mode
Of quoting prices not unnaturaily
tended to check new business this
week. Buyers were disposed to
await the outcoms Of the passing
Of the Pittsburgh basing system,
and few new orders Of importance
were reported. The element Of
price uncertainty is not likely to be
more than a temporary hindrance,
yet It win affect the volume Of
Septmeber bookings, which Is now
said to show q falling of from
that Of August The unsettlement
In the steel market has not been
without influence on pig iron, al
though demand for the latter ma.
terial is fairly active in some
centers. A composite zip iron price
shows no change for the week, but
concessions OF soc a ton have oc.
CURED in some districts.
Renewed Advance In Cotton.
In a week during which price
advances again predominated, re-
newed rise in cotton was an out
standing feature. An official crop
estimate smaller by 191,000 bales
than the preceding forecast brought
sharply higher prices for the South.
ern staple, the increase on Tuesday
alone being about 50 bale. The
Governments figures on both crop
condition and probable yield were
below the calculations Of the trade,
and there was again talk Of the
possibility Of an inadequate yield.
OF movements In other commodity
markets, an advance in wheat and
g decline in corn attracted attention,
the latter staple falling several cents
q bushel on continued liquidation.
Yet Dun's list Of wholesale quota
tons, covering a wide range Of
articles, shows that the main price
trend Is still in an upward direction.
AZ Of the 50 changes this week being
increases. A year ago, there was q
slight excess Of declines.
Food Index Higher.
Bradstreet's weekly food index is
higher based on the wholesale prices
per pound of thirty-one articles used
for food, is 1928, comparing with
$3,26 last week and 1928 for the
week ending September ~, 1929.
This weeks number shows a gain
Of six.tenths of per cent over last
week, but Is unchanged from the
like week of last year. OF the eighty.
two commodities Of all kinds quoted
weekly, nineteen declined and forty
eight remained unchanged, as fol-
lows:
Increased: Red wheat, spring
wheat, rye flour, lard, coffee. tea,
eggs, raisins, beeves, hogs, cleo, oil,
cotton, gray goods, o. delaine wool