Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-21
PROSPERITY SHOWN
IN BUSINESS NEWS
U. S. Trade Map Indicates
Further Progress-FeW
Exceptions to Trend.
Nv The Associated Press.

BY the Associated Press
Barring Florida bank troubles, d.
rectIv traceable to the fruit-fy pest
and its associated fampering OF the
fruit trade. the American business map
as viewed from washington last week
appeared notably prosperous. Inc Gov
ernment's new Farm Relief BOARD or
oanized but gave rather plain notice
that in view of fair to good prices on
most staple agricultural commoolIlee
now prevailing 1t would take no nasty
steps toward disbursing any part OF Inc
$500 900 900 with which 1t Is endowed.
Credit conditions remained unaffected
by anv moves of the Central Reserve
system. except in so far as trif1ing DIS
turbances arising from the new sized
money gave evidence of termination In
the week
Turnover Is Lower.
THE volume of money turnover dur
ing the week ended July IS, as indicated
by check payments. was lower than
in either the preceding or correspond
ing period of 1925" said the Commerce
Departments summary of business con-
,ditions at home and abroad.
Operations in steel plants were on
somewhat lower level than in preced-
ing week. but were considerably more
The production of bituminouS coal dur
ing the latest reported week showed
a decline from the preceding week, but
was higher than year ago. Crude
petroleum production showed gains over
both periods.
The general level of wholesale prices
showed A fractional decline from the
preceding week and was more than
per cent lower than year ago. Prices
FOR iron and steel were somewhat lower
than in the preceding week, but were
higher than a year ago. Cotton prices
showing no change from the previous
week. were lower than a year ago.
Leans and discounts Of Federal Reserve
member banks showed practically no
change from the preceding week. but
were higher than at this time last year
Interest rates on time loans showed no
change from the previous week, while
call loan rates showed decline. Inter-
est rates on both time and call funds
were higher than a year ago. Bond
prices showed no change from the pre-
vious week but were lower than last
year. Business failures were more
numerous than in the preceding week,
but showed a decline from the cor
responding period of 1928.
Receipts of cotton during the latest
available week showed gain over the
corresponding week of last year. Cattle
receipts showed decline from a year
ago. while receipts of hogs showed
gain. Wheat receipts we're considerably
greater than In the corresponding week
Of 1928"
Canadian conditions were reported to
be showing a reaction from pessimistic
wheat crop outlook there. with de-
creased sales of agricultural equipment
in the Western portion Of the Domin-
ion. and slowing up Of lumber sales.
Eastern Canada naturally showed less
effect.
Brazilian Credit Crisis.
Commercial agents of the Govern
ment in South America saw some
grounds for hope that the Brazilian
credit crisis, long maintained, was
diminishing this week, but Argentine
business was reported slow. The Cuban
section did not give any note of bettered
business in the island which has been
expected to accompany the recently in
creased price of raw sugar. A definite
improvement in business following the
religious difficulty settlement. with re-
taflers first to feel it," was mentioned
as marking the Mexican situation.
A slight increase in British unem-
ployment, and an unsatisfactory state Of
oversee trade was reported from that
country. Other European areas fur
nished little Of note in the Government
reports.