Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-22
Confidence NOTED
IN TRADE CIRCLES
American Industry Is Grad.
uaIIy, Showing Signs of
Normal Activities.
ny ]. 6. RoxLE.

The driving wheels Of the business
locomotive are beginning 70 catch on
the sand Of confdency, and the heavy
train Of industry 10 again moving for
ward--but slowly. The best judges in
the country can see the acceleration,
even If the passengers on the train
have not yet fully. realised that It y
moving.
The moves I'M the wheat markets Of
the world have shown the ability o.
American agriculture, with strong as
sistance from the Farm Board, to with
stand grain declines.
American Situation Favorable.
The encouraging factor in this is not
that prices have been maintained, but
that domestic prices have held ct Q
level far above those of foreign markets,
although 1t Is admitted both by traders
and Government officials that sales in
any quantity In Europe or elsewhere
cannot be Of large volume, IN view Of
the fact wheat can be bought cheaper
from Russia now, and probably will be
bought ct equally low prices when Aus
traiian and Argentine wheat comes on
Is decidedly more favorable than that
Of the Canadian growers.
Naturally the fif-st movement upward
has been recorded IN steel and has been
marked by gain IN buying orders and
specifications against old contracts
This is due largely to the automobile In
dustry and to the natural gas pipe line
Developments. The call IL coming from
as far away as the Mexican field, where
pipe lines were local proposition un-
sion for o line from the Isthmue Of
TnlTfIQTffAF1Ae IN MaxfN0 Gfkv
One Of the great automobile manu-
facturers announced that plans for the
next IL months involve expenditure of
$50, 600 900 for plant expansion. This
was self-labeled - an evidence of con-
fldence in the industry and In the flu
ture, but actually had less effect than
the hiring Of additional workmen, both
~ this company and 1ts closest com.
petitors.
Only Federal, state and municipal
building has been spurred by recent ac-
tivitdes TO relieve Unemployment. Phi
vate contractors and constructors say
frankly that they do not contemplate
additional building In great volume stn-
til rents are stabilized again and de-.
mand for space is more insistent. Rents.
however, have shown little decline in
the last six weeks and In some Localities
have increased.
Oil and Coal industries.
The oil industry 10 beginning to resent
illusions 10 "overprOduction. Its
representatives say stocks are excessive
but that production 10 not and that II
exoees stocks were reduced and imports
graduated. the situation would soon
stabilize itself
The coal industry n benefiting some.
what from the depression through the
fact that many consumers who would
have turned to fuel oil or natural eaa or
electric power have hesitated to change
because Of the immediate expenditures
for new equipment involved. Car
loadings are fairly high, but every time
Federal agency suggests additional
expenditures for railroad equipment, the
carriers ask pertinently to what ac-
count they car charge this expense. II
It Is charged against operating ex-
pense, 1t may seriously jeopardise their
investment position.
The copper and other non-ferrotis
industries have held consultations, but
the Department Of Justice has not Is
yet been consulted and any plans tor
STERILIZATION Of prices must eventually
| come before It to determine whether the
antitrust laws are 10 be violated.
The difference between this year end
last In the volume Of retail trade d
| materially less than the IL per cent
drop Of month ago.
(copyrisht. iDs0.)