The Washington times., 1924-08-09
TRADE GAINING,
REVIEWS
SAY
Trend Is Toward Business
Expansion, Despite
Hot Weather

NEW YORK, Aug. s.-The trend
Of business expansion, though not
general. Is distinct, Dun's Review
Of Trade says this week. Gains
made in July, which marked the
turning point in several basic lines.
have been extended in certain In
stances, and the strengthening Of
confidence Is an important phase.
A reflection Of the better sentiment,
and a change from the previous at.
titude, is seen in o disposition in
some channels to widen the scope
Of operations, more inclination be-
ing shown to make advance COM
mitments. The condition has not de-
veloped where buying, as a whole,
runs beyond present or early needs,
but in a number Of cases more con-
sideration is being given to forward
requirements, and it is significant
that there has been some ordering
Of steel for the fourth quarter.
Output Of that material, despite
the handicap Of hot weather, has
risen little, and it seems not un-
likely that the low level in pig
iron production has been passed.
Signs of revival likewise appear in
some other branches Of manufac-
ture, textiles among them, and the
recovery Is the more encouraging
because it results from an, increase
in actual contracts rather than
from movement to provide for
possible purchases in the future.
The action of prices has shown
plainly that there is a closer rela-
ton now between supply and de-
mand, Dun's list of wholesale DUO
tations for the fourth consecutive
week disclosing more advances than
declines.
A rise Of only " per cent in the
index number last month marks a
moderate change, but the figure
for breadstuffs increased nearly 8
per cent, and the higher prices for
various farm products have been
the chief factor in the recent i'm
provement in domestic business.
Developments at the London con-
ferences on German reparation have
also added to the more optimistic
feeling that generally prevails.
What looks like a definite for
ward step in wholesale and jobbing
trade Is reported this week, buy
ers' excursions in the Northwest
and Southwest stimulating country
buying in those sections, according
to Bradstreet's. In large Eastern
centers, also, more is reported do
ing in primary lines of cottons and
shoes, while wool has also sold bet
ter. Free marketing of new wheat
and old corn is reported to have
loosened up Southwestern collec.
tons. Heavy rains, with bad roads
in the West and high tempera-
lures from the Mississippi to the
Atlantic coast, while stimulating to
crops, have tended to restrict re-
tail buying.
The crop situation has improved,
corn having gained ground except
in parts of the West where flood
ed soil has hurt the plant, and the
Government report this week more
than confirms trade estimates of q
big gain in grain crops in July.
Cotton crop reports are moved, but
the majority indicate improvement.
While the general trade situation is
fully fair, industry, in which the
reduction in operations has been
severe, Is still hardly fair and like
collections, runs from fair to slow.
That the improvement Of the past
month or two in crops and prices
has improved something more than
the scenery is evidenced by the
rally in bank clearings shown at
most cities in July, by the gains in
mail order and chain store sales
over July a year ago, and by the
first gain - the index numbers of
commodity prices reported since last
December.