Evening star., 1924-04-12
SHOWS PROBABLE TREND
OF COMMODITY PRICES
Expert Believes Recent Declines Have Been in
Strict Accordance With Conditions Shown.
Depends on Industrial Activities

hand, at this time last year untitled
orders amounted to over 100000
tons. The steel business is good at
the present time and distinctly better
than a few months ago, but it is at
rather critical point and few more
or a few less orders will materially
affect the price during the next three
months.
Coal Markets Inactive.
Coal markets show little activity.
Non-union mines are doing a fair
business. but many of the union mines
are running on part time or at a loss.
Unless production is curtailed or con-
very well go higher. The settlement
of the wage question in the btu
minous fields should eliminate all
possibility of a strike this spring. 1t
ket.
Crude oil production is making a
small gain and the entire oil situa-
tion looks better than it has for some
time. The shrewd investors in oil
securities are now banking on great
increase in the use of fuel oil.
When it comes to the discussion
of the commodities connected with
wearing apparel statistics do not pre-
sent such an optimistic condition.
other forms of clothing is declining
owing to the falling off of the de-
mand for these goods. This develop
ment is resulting in considerable un-
employment in the textile, leather
and other centerS.
The cotton industry is operating. at
about so per cent capacity. whether
this slackening is due to weather
conditions or to the new habits of
life brought in by the automobile
is debated question. Probably both
are responsible for causing people to
Ia 20
fewer pairs of shoes. When people
are paying for an automobile on the
installment plan. they must econo-
mize on something else. Moreover,
the more they ride the less they walk.
In any event, shoes are suffering. In
January, 1924, production of &c.
100000 pairs falls considerably below
the figure 80, 900 made in January,
1928. The hide and leather market
suffer correspondingly. Statistics on
the mems and boys clothing show
that business is falling off. Produc-
tion of wooden suits this year is run
ming about 20 per cent below the
figure Of last year. All OF these sta
tistics are now available in the De-
partment of Commerce in Washington
and will become more and more val
liable as they are studied in connec-
tion with these industries.
Believes Hoover VIII Win.
Although the Department of JUS
tice has apparently tried to dis
courage publication of such figures
am convinced that Secretary Hoover,
who favors their publication. will win
out. 1t may be to the advantage of
special interests and to spectators
to have the court sustain ex-Secretary
Daughertys opinion, but the collec-
tion and publication of these figures
are distinctly to the benefit of the
average business man. If we are
overeating or undertaking or have
some other physical i'll the sooner
we know about it the better and the
same principle applies to general
business.
General activity as reflected by the
BabsQnchart is running at per cent
below normal as compared with >
per cent above normal on January !,
1924, and IS per cent above normal
a year ago. The recent drop is due
to exceptionally large failure figures.
The Northern Pine Manufacturers
Association of Minneapolis reports
slight gain in orders, shipments
and production over the correspond
ing week of last year.