Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-20
FAVORABLE TRADE
OUTLOOK IS. SEEN
Industrial Situation Sound,
Says Report of U. S. Com
merce Department.
BY the Associated Press.


Business analyses from governmental
sources lent an optimistic note to the
Nations industrial situation for the
Fall, such sources as Secretary Lsmont,
the Federal Reserve Board and the
Labor Departments employment and
price surveys citing no major factors In
sight to mar the outlook.
However, the delayed consideration
of tariff revision by Congress and the
indication that the failure to complete
the work by the end Of the special SEES.
sion might cause the abandonment OF
the proposed change Of the customs
structure injected some uncertainty for
the industries particularly interested in
the legislation.
In general, the business map showed
slight recessions in nearly every feld
during the last reported week, although
the level of activity was analysed by
governmental agencies as higher in most
industries and business enterprises than
for the corresponding period last year.
Text Of Review.
The Commerce Department issued the
following review:
Business transactions during the
week ended October IL, as indicated
by the volume of check payments, were
smaller than in the preceding week. but
greater than in the corresponding week
Of 1928. Steel plant activity showed no
change from the previous week, but was
somewhat lower than in the correspond
ing week of last year. The output OF
bituminous coal during the latest re-
ported week showed o decline from the
preceding week, but was greater than
year ago. Crude petroleum production
showed q further recession from the
previous week, but was still larger than
In the same period of last year. Re-
ceipts Of cotton into sight were greater
mary markets, however, showed de-
cline from a year ago. but hog receipts
were greater than In the same period OF
last year. Distribution Of commodities
by rail, as indicated by data on freight
car loadings covering the latest reported
week, continued to reflect gains over the
corresponding period of last year.
THE general level Of wholesale
prices showed no change from the
previous week, but was about per cent
lower than ct this time q year ago
Prices for iron and steel averaged lower
than in the previous week, but were
higher than q year ago. Cotton prices
averaged lower than In either the pre-
ceding week or the same week Of last
year. Copper prices showed no change
from the preceding week but were
higher than q year ago. Bank loans
and discounts showed q contraction
from the preceding week but were
greater than year ago. Interest rates
on both time and call funds averaged
lower than in the previous week, while
call loan rates, for the first time in
months, averaged lower than In the
corresponding period of the previous
year. Stock prices showed q gain az
compared with both the preceding week
and the same period of last year. Bond
prices averaged higher than in the pre-
ceding week, but were still substantially
below year ago. Business failures were
less numerous than in the previous
week, but showed gain over last year"
Foreign Conditions.
In foreign nations, according to ad-
vices received by the department, sew
eral of the best customers of the United
States, including Canada and Japan. ap-
parently showed improved situations
during recent weeks. In Canada indus
trial activity was reported to be at a
satisfactory level, while the chief note
Of optimism was furnished by the class
ification Of the wheat crops quality at
100 per cent. Japan's foreign trade was
said to be most favorable"
The report on China said that IAN out
break of military activities between Ma
tionalist and Northern military leaders
appears inevitable" but despite this and
other depressing factors certain i'm
portant phases Of Chinese trade were
cited as in satisfactory condition
Mexico's business, both industrial and
agricultural, was described as dull.