Evening star., 1928-03-02
VOLUME Of RETAIL
TRADE HOLDING UP
Building Being Speeded and
Steel Industry Shows Some
Improvement.
BY !. e. ROYLE.

NEW YORK. March 2 tSpcciaD .-
Complaints that business has slumped
do not seem to be borne out by the
reports of the actual volume Of retail
trade In many Of the centerS or the
country.
There is little doubt that wholesale
buying has been restricted to certain
extent. The trend is rapidly reversing
itself, however, according to late re-
ports. This Is taken to mean that the
distributors and retail merchants have
cut off their buying activities in the
fear that the general public and the
consumers will cut down their pur-
Chascs.
The chief industrial factors. however,
show q very decided SteadineSS and
what slump there has been seems 10
have resulted from psychological
rather than an economic and CONNER
cial condition.
Building Picking Up Well
Building is picking up splcndidly
and undoubtedly is proceeding at
higher rate than it was at THIS tlmc
last year. That has lent encourage
mcnt to producers Of building materials
and has furnished Jobs for many Oh
those out of work, within the laSI TWO
weeks.
The steel industry not only Ia turn
ing out products at rate Mhlcn -
closely approaching what may ne ca'ltd
normal capacity. but is increasing cut
nut slightly each week. The ciigcWlcS
of the stee Industry are such that all
plants could not possibly run ut ca
pacity at any one time. and the present
percentage OF operation Is extremely
high. Moreover, piIces arc dlSthcIlJ
firm. ,-.
Tho automobile industry Is picking
I'D steadily. with an increase IN en-
ployment noted IN all the big Llanuiac-
turing centcrs.
Oil Industry Improves.
The SLOW but steady improvement in
the petroleum industry has begun to be
reflected TO the consumers. III various
sections. increases in the price OF case
line have been made i'll the last week
and those in close touch with the sltu-
alton anticipate additional increases
from time to Zine throughout tile next
month. The improvement. in the posi-
ton of crude oil has not been marked
but it has been sufficient to relieve ans
iety of many companies as TO Their eX-
cess stocks.
Despite the close approach OF tn"
Opeuing of the inland waterway season,
bituminous coal is still feeling an acute
depression and SO arc the clStricts III
which coal mining is the !najoC INDUS
try. The etocks piled up IL an'icipa :
ton of TIE STRIFE which was cailed
April /. 1927, have never been depicted
sufficiently to alloW production at any
thing like a satisfactory rate.
First River Cargo.
Tho first cargo of the season TO be
dispatched on the Mississippi River
from New Orleans to ST Paul Is now
making its way n0rthWard. and the
Mississippi promises To carry more
freight this year than at any tine since
the days when the Mississippi packets
were the medium of transportation for
all goods destined for the West.
Announcement that one OF the larg-
est consumers Is in the market Tor
400 900 tons of iron ore indicates that
the lake shipping season vii! be
brisk one this year. The opening price
of iron ore for the season has not been
fixed. There was no change between
1926 and 1927. but in view OF the
higher steel prices this year 1t is pos
sible that Iron ore may command
slight advance.
Demand by consumers for the non
ferrous metals has been good through
out the week, but prices were shaded
to some customers. according 10 reports,
Some rcflners arc reported TO have ac-
cepted less than Ii cents pound for
copper This week was the iirSt time
that lead touched the low point OF
6 cents pound since 1923. while zinc
was down TO $40 cents.
Easter Already Felt.
The effect Of Easter has already COM
menced to make itself felt on the APP
parel trade. and the producers of miln-
merry and ready-to-Wear goods are e%-
tremcly busy.
The textile producers are still far
from a satisfactory condition. although
they have succeeded III reducing pro-
duction at least 20 per cent.
Tobacco products are increasing sales
materially. They are running now be-
tween 10 and IL per cent higher than
at this time n year ago. This Is cSpe-
cially true Of cigarette distribution.