Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-06
FREIGHT LOAD|NCS
CONTINUE TO GAIN
Commerce Department Sur
vey Records Increase Over
Same Period in 1928.
By the Associated Press.

BY the Associated Press.
Two important tariff decisions by the
Senate and proposal by Controller
of the Currency Pole for liberalization
Of the present branch banking law
for national banks formed the major
| governmental developments in the bust
ness situation during the past week.
The visit of Prime Minister MacDon-
aid of Great Britain to Washington to
confer with President Hoover was of in
terest to the American business man,
although their conversations have no
connection with the condition of COM
merce.
Tariff Amendments.
The Senate in the course of its con-
sideration of the tariff bill adopted two
amendments in the administrative Sec
ton of the measure - one would re-
move the flexible tariff powers from the
President and place it in the hands Of
Congress and the other would estab-
lish in 1882 the so-called domestic
valuation system of computation Of the
ad valorem duties rather than the ex-
listing foreign valuation method. An
other increaSe-$43, 600. 000-in the bro
kers' loans of the New York Federal
Reserve member banks during the week
ending october 2 had some effect, as
usual, on the New York stock market
prices and transactions.
A survey of business conditions, is
sued by the Commerce Department, re-
viewed the situation for the week end
ing September % as follows:
The volume of money turnover dur
ip1
indicated by check payments. was
smaller than in the preceding week. but
greater than a year ago. Steel plant
operations were on lower level than in
either the preceding week or the same
period of last year. The output Of BIZ
luminous coal during the latest re-
ported week showed no change from the
preceding week, but was greater than
year ago. Crude petroleum production
showed a recession from the previous
week and a gain over the same week OF
1928. Receipts of cotton into sight
were smaller than in the corresponding
week of last year. Cattle receipts at
primary markets were lower than
year ago, while hog receipts showed a
gain. The movement Of freight by rail,
as indicated by data on car-loadings
covering the latest reported week, con-
tinued to show gains over the corre-
spending period of last year.
Wholesale Prices.
"The general index of wholesale
prices showed declines from both the
preceding week and the same week OF
last wear. Iron and steel prices aver
aged lower than in the previous week,
but were higher than year ago. Cot
ton prices and prices for copper showed
no change from the previous week, but
as compared with year ago cotton
prices were lower and copper prices
higher. Bank loans and discounts
showed practically no change from the
previous week. but were higher than
wear ago. Interest rates on both time
and call funds averaged higher than In
either period. Prices for stocks showed
a decline from the preceding week, put
were well above a year ago. Bona
prices, rejecting higher interest rates,
were lower than in either the previous
week or in the same period OF last year.
Business failures were more numerous
than in either the preceding week or
the same week of 1928"
In many foreign countries the ds-
partment was advised OF generally
satisfactory conditions. Argentina was
reported to have had good economic
conditions during September, while IN
Canada the trade outlook was reported!
to be continuing as quite satisfactory.
Chile, Hungary, Mexico, Denmark ano
Switzerland were other nations listed
with a good commercial situation.