The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-10-04
TREND OF
BUSINESS IS
UPWARD
Dun-Bradstreet Trade Review
Shows Increased Activity
All Week

NEW YORK, Oct. At is nat.
ural to look for expansion Of bust
ness at this season. and reports
and statistical records disclose in.
creased activity in different lines.
Dun's review of trade says this
week. The movement is still mark
ed by much irregularity and results
In some quarters have not met ex-
pectations, but the main trend is
upward. Notwithstanding price UNI
certainty, demand for steel, espe.
cialIy from the railroads, is larger;
pig iron output rose 10 per cent in
September; the textile trades are re-.
covering gradually, and dealings in
hides and leather have broadened
further. These are some of the
concrete evidences Of revival, and
they are supplemented by another
weekly statement Of freight car
loadings which shows conclusively
that there is a notably heavy dis
tribution Of merchandise.
Bank clearings, moreover. are I'M
usually large, with a gain this week
Of II per cent over last years
figures, and a new low monthly
total for this year has been reached
In number OF commercial failures.
Highly irregular though it is, the
current business improvement is the
mr. sic mt tInA 20 - laak
1t is being accomplished despite a
very evident disinclination 10 under
take forward operations. There is,
OF course, some contracting ahead,
but no general purchasing 70 antici-
pate later needs, most orders being
for immediate or early shipment.
Doubts about future prices partly
account for the present cautious
buying policy, while the coming
elections make for hesitation and
cause deferment of some commit.
ments. With these and certain
other factors tending to restrain ac.
tfvities, the commercial expansion
has not developed the vjgor or
breadth that was hoped for, and
there still are several unsatisfactory
phases in the situation. Yet a dis.
last summer has been recorded, and
fuller response to constructive
forces may conceivably ne made
when some Of the existing uncer.
ftainties have been removed.
Generalization Is difficult with SC
many cross.currents in tra.le, but
most outstanding developments OF
the week seem to qean TO the favor
a HI rs41 awS~s -.
For instance, despite past reports
OF moderate buying, mainly for Inn
mediate needs, the early September
measures Of movement show that
quite surge forward occurred in
that month.
Commodity prices. led by the
grains and cotton, rose for the
third successive time, bank clear.
ings for the usually quiet third
quarter were the largest in any
quarter for four years past, while
the monthly failures and liabilities
were the smallest since 1920. The
rise in many lines Of farm produce
has continued into October, the
weekly food index rising sharply
this week, wheat making a new
high level for recent years and cot
ton prices having advanced cents
in two weeks.
The steel industry, while report
ing a great deal Of price uncer.
tainty,' also notes that railroads
have bought freely Of cars and
rails after September had appar-
entity shaded off from August in
this respect. The West seems to
have garnered most of the steel
trade Improvement, however, some
Eastern centers sending rather
blue reports. Coal buying and
production has been aided by cool
weather. Pig iron production
gained fair percentage over
August, and early reports as to
mail-order sales show heavy gains
over both August and September
d year ago.