Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-08
UPWARD BUSINESS
RENDCONT|NUES
Commerce Departments Re-
view Notes Spotty Condi-
ton in Some Lines.

The business situation in the United
] States during the week ended August
81 presented q number of spotted fac
tors, but generally speaking was a con-
ttnuance Of the high volume of activ-
tty and production which has prevailed
during the Summer. In most lines of
industry activity was at q higher level
than the corresponding period in 1928.
Bituminous coal output showed q
gain over the preceding week, which
caused considerable optimism in that
industry, as indicating an increased
consumption for this year. Crude
petroleum production and freight car
loadings set new high records during
the week.
Wholesale Prices.
Wholesale and industrial commodity
prices generally remained unchanged
from the level Of the preceding week,
! but agricultural prices showed rising
trends, cotton and wheat being among
those in the latter category. Business
failures were less numerous than in
either the preceding week or the CORE
spending period of last year.
In q report on the weeks business
conditions, the Commerce Department
said: =.
The volume Of money turnover DUR
ing the week ended August 81, as re-
fected by check payments. was lower
than IN the preceding week, but consid-
erably higher than In the correspond
ing period Of 1928. according to the
weekly statement of the Department of
Commerce. Steel-plant activity showed
a further recession, but was stu con-
siderably above the level of last year,
The output of bituminous coal during
the latest reported weke showed o gain
over both the previous week and the
same period Of year ago. Crude pc
| trolenm production reached q new high
record during the week. Receipts of
cotton into sight were considerably
larger than in the corresponding period
q year earlier. Cattle receipts at pri-
mary markets were lower than a year
ago, while hog receipts showed a gain
The movement Of commodities through
freight-car loadings, Was substantially
greater than In the same period of 1928
General Index Lower. -
"The general index of wholesale
| prices showed little change from the
previous week, but was per cent lower
than in the same week of last year.
Cotton prices continued to rise, being
higher also than q year ago. Iron and
preceding week, but showed gain over
the same week Of last year. Band loans
and discounts were considerably larger
tnan year ago, but showed very little
change from the preceding week. In
terest weeks on both time and call
money averaged higher than in either
the previous week or the same period a
year ago. The Federal Reserve ratio
showed q fractional decline from the
preceding week, but was higher than
last year. Stock prices reached a new
high level during the week, while bond
prices, showing no change from the
previous week, were lower than q year
In foreign countries the department
reported that no serious effect upon the
Argentine Spring wheat crop had vet
resulted from the drought conditions in
Brazil. General conditions, although
the coffee market was quiet, had i'm
proved slightly with considerable op-
timism prevalent. In Eastern Canada
the business situation was described as
fair to good" and for the prairie prov
inceS as encouraging" : -
British commercial conditions on the
whole" the department said, "are on a
level perhaps slightly better than they
were year ago. In some cases, notably
in the coal and the iron and steel trades.
conditions are considerably better than
year ago. Unemployment figures indi-
cate q SteadineSS of business. There is
a general belief that drastic reorpan-
t=ation OF the cotton industry is neces-
ditions."