Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-10
EASING OF CREDIT
NOTED IN REVIEW
U. S. Survey Reveals Recess
SionS in Commodity Prices
Here and Abroad.
ny the Associated Press.


A review of business conditions fol
the week from the Federal standpoint
showed a continued ease of credit over
the country, undlsturbed by acute stocE
market pressure, which relaxed during
the period. Senate procedure In re-
lation to the new tariff bill was ex-
pedited to the degree that induced eX-
perienced Congress members to pre-
dict an early disposition Of ehe SUBJ
tect and an exclusion OF its controversy
in considerable degree from the APP
preaching regular session of Congress.
Slight recession in prices of COM
modities, both at home and abroad
were remarked upon by the Commerce
Departments official summary Of the
commercial and industrial reports.
Commercial Transactions.
Commercial transactions during the
week ended November 2, as indicated
by check payments, we're considerably
larger than in either the previous week
or the same period Of last year." the
statement said.
steel plant activity for the latest
reported week showed no change
from the previous week, but was
lower than a year ago. The out
put of crude petroleum showed re-
cession from the previous week, but was
still above the level of last year. Pro-
duction of bituminouS coal was In larger
volume than in either the preceding
week or the same period of 1928. Re-
ceipts of cotton into sight were con-
siderably greater than a year ago. Re-
ceipts of cattle at the principal primary
markets showed a gain over last year,
while hog receipts were likewise greater
than a year ago. Freight car loadings
covering the latest reported week showed
a larger indicated distribution of goods
than in either the preceding week or
the corresponding period Of 1928.
Wholesale prices we're generally
lower than in either the preceding week
or the same period of 1928. Prices
for iron and steel were fractionally
lower than in the preceding week. but
were higher than year ago. Cotton
prices averaged lower than in either
period, while prices for copper, showing
no change from the preceding week,
were higher than year ago. Bank
loans and discounts were greater than
in either the previous week or the
same period of 1928. Interest rates on
time funds averaged lower than in
averaging higher than in the preceding
week, were below the level of last
year. Prices for stocks listed en- the
New York Stock Exchange we're sub
Stantially lower than in the previous
week, but we're still somewhat above
the level which prevailed q year earlier
Bond prices averaged lower than In
either period. Business failures were
less numerous than In either the pre-
ceding week or the same week Of 1928. +"
Canadian Conditions.
In Canada, government agents noted
that security markets had followed the
lead given by New York In recent
weeks, but found that the general
economic conditions remain sound and
that speculative losses will not be
widely felt in the buying power of agri-
cultural communities PilinR I'D of
Canadian wheat at terminals above last
years storage levels was still q marked
feature of the Dominion, trade situa-
: ton. but colder weather was said to be
stimulating retail sales through much
of its territory.
As to Great Britain. it was declared
that trade indicators point to improve
ment in some lines of British industry
and recession in Others" and that COM
nercial conditions had not as yet "indi-
Gated the active revival anticipated for
3 the Fall season." French imports were
reported as exceeding the countrys i'm
ports for the first nine months of the
year, but notable increases In tax re-
ceipts Of all types for the year over last
year were said to be aiding the country
to reduce national debt and strengthen
credit.
Conditions Abroad.
Mexico was found to be evincing "a
steady condition Of business, with salts.
factory credits and increasing bank de-
posits," though interest rates were run.
, ming at high levels through the re-
public.
In Asia, disturbed political conditions
were again credited with causing de-
/. preston in Chinese business, and the
Japanese general outlook was declared
to be somewhat depressed as well.