Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-02
EXPORTS VOLUME
A" RECORD LEVEL
Official U. S. Trade Figures
Reveal Large Foreign
Purchases.
By the Associated Press.


Possibly the most notable showing in
the current weeks release of official
trade figures in Washington was that
demonstrating maintenance of extraor-
binary volume in national exports.
Secretary of Commerce Lamont, COM
menting on the total volume Of national
exports. which including April, ran TO
S1,846. 900 900. said that it represented
a larger figure than any encountered
since 1921 in the foreign trade field
for a like period, and in view Of lower
prices now prevailing, indicated the
movement abroad of record quantity
of American products.
Cotton consumption for April in the
! textile industry was reported to nave run
to higher than customary levels, While
railroad traffic, as illustrated by the
announcement of third successive
week of million railroad freight car
loadings was equally high. Notwith-
standing, the level Of wholesale prices
i dropped to a point per cent below
I that of last year, grain and cotton
leading the fall. While stringent
81 credit conditions remained IN collateral
loan markets, the Federal Reserve banK
board in Washington refrained from
anv new pronouncementS on currency
matters. Regular routine reports, how
ever, evidenced gradual increase IN
khe ratios of the reserve systems gold
holding to its circulation and deposit
liabilities.
Steel Operations.
1.-THE volume of trade during the
week ended May IL, as reflected by
Eheck payments was smaller than the
previous week but larger than year
go" the Commerce Department SAID
h. its weekly review OF business coiol-
ions at home and abroad.
Operations in steel plants were on
lower level than in the previous week,
mt were more active than in the same
beriod of 1928. The production OF
rude petroleum during the latest re-
ported week was smaller than In the
revious week. but greater than year
go; the output of bituminous coal
Flowed a decline from the previous
reek and a gain over last year. Lum-
Her production showed similar COMPARE
lions with both periods. The primary
distribution of goods, as INDICATED ny
freight car loadings covering the latest
neported week, was about 9 per cent
Greater than year ago.
1.-The general level Of wholesale prices
showed a decline from the preceding
Ieek and was more than 4 per cent
Ibwer than a year ago. Prices for iron
and steel showed no change from the
breeding week, but averaged nlgher
than last year. Cotton prices shoWeo
declines from both periods. Loans ana
discounts of Federal Reserve member
Iious week and gain over last year.
Interest rates on both call and time
loans averaged higher than in either
beriod. Bond prices showed further re-
dession from both the preceding week
and the corresponding period OF
wear ago. Stock prices declined from
The preceding week, but were higher
than last year. Business failures were
smaller in number than year ago.
Receipts of hogs at the principal
primary markets during the week end
ID May 4 were greater than in the
same week a year ago. Cattle receipts,
however, showed a decline from last
Hear. Wheat receipts and receipts OF
dotton were likewise smaller than IN
the corresponding period OF a year
ago."
Canadian Activities.
Canadian manufacturing plants in
the Eastern region were found to be
running on high production schedules,
the review said in turning to foreign
matters. A congestion Of grain await
ing shipment at lake ports was also
noted In South America, Brazilian
credit stringency was said to be pass
ing over. though business failures have
been serious, while Argentina was
CHASED as enjoying good business. In
Cuba business was declared to have
stabilized itself on a certain low level"
as result of prolonged periods Of de-
pressed sugar prices.
In both France and Germany, failure
to get quick settlement of the war repa
rAtions differences was treated as
cause of dull business. England, less
disturbed by this, was viewed as evinc-
ing "a slowly improving industrial po-
siti9n," though its coal industry was
still found to be producing in excess
of demand