The Washington times., 1924-09-13
IMPROVEMENT
SHOWN BY
TRADE
Weekly Survey BY Dun
Shows Business Is
Expanding

NEW YORK, Sept. 13.-Despite
ITS lack Of uniformity, the move
ment of business is toward expan-
sion. Various irregularities and
contrasts are still shown, but there
are multiplying signs of a response
to stimulating forces. AS monthly
records come to hand, it Is seen
that trade recovery has exceeded
expectations in some instances, the
rise In steel output being Surpris-
inglyf large and there being a siz.
able gain in untitled orders. Added
IT, these favorable indications Is the
report of the heaviest weekly
freight car loadfngs Of the year
thus far, while statistics of bank
clearings also show that there is a
big distribution of general merch-
andise. The unusual rapidity with
which grain Is bei~g marketed is a
feature; official estimates of the
wheat crop have been revised up
ward, but those OF corn and cotton
have been lowered. The price
trend in the latter commodity has
been in q downward direction. yet
prices for the principal cereals re.
main much above the levels of a
year ago, and for the last nine
weeks Dun's list OF wholesale quota
0Cns, covering a wide range OF
articles, has shown an excess or
advances.
There is evidence in some lines,
including the sLeel industry, that
competition for business is causing
continued price concessions, but the
fact that increases predominant, tax.
ing the markets as a whole, demon.
strates that most sellers are firmer
in their views. AbnorInally low tenn
Deratures at different points have
Quickened autumn demands, and the
requests for prompt shipments OF
goods show that supplies are rela-
lively small. More disposition to
provide for probable future needs
Is indicated, though there has been
no general departure from the
policy of operating chiefly for near
by and well-defined requirements.
Larger August Bank Clearings.
Even with allowance being made
for the larger stock market opera
tons. statistics of bank clearings
continue to show a well-sustained
volume of general trade. Clearings
outside of New York city increased
49, per cent in August over those
for the same period of 1923, de-
creases occurring only in the West
ern and Pacific coast sections. The
largest gain was one of 20 per
cent in New England, while figures
for New York city rose 37.7 per
cent. To a considerable extent the
latter chanCe resulted from in
creases of about $500, 900 shares in
stock sales and of $187 ,000. 900 in
~ he M
bank Hearings at leading cities ex-
coed those of 4 year ago by 1875
per cent. there being a gain of 32.6
per cent at New York city, and of
IL per cent at outside centers.
Increase i'm Building Permits.
After four consecutive months of
decline, statistics of building permits
show an increase. Last month s
aggregate for leading cities of the
United States approximated $207,-
600, 900. or fully IS per cent more
than the July total. The increase
occurred at outside centers. returns
for New York city showing a reduc-
ton. Comparing with the figures
for August. 1923, all cities report.
ing disclose a net gain of about 2h
per cent, this Improvement also be.
ink due to larger totals at outside
points. Among the more important
cities showing increases are included
Boston, Philadelphia, st. Louis, Chi.
cago. Cleveland. Milwaukee, Port.
land (Ore.), San Francisco and Sc
attic.
Steel Production Receivers Sharply.
1t was expected that the gain in
steel output during August would
exceed the 6 per cent increase in
the pig iron make, but a rise of
almost SO per cent in steel produc.
ton had not been looked for. With
q daily rate Of $3.50 tons, last
month made the best showing since
April. and it appears now that the
curtailment in July was overdone,
There is not a little irregularity in
current mill operations but the
main trend is in an upward direc'
ton.
The gain of about O2,50O tons in
the untitled orders of the Steel
Corporation during August marks