The Washington times., 1930-05-24
EASING IN PRICE
LEVEL SEEN
FOR WEEK
Bradstreet's Finds Few I'M
portant Changes During the
Week; Buying Is Higher

portant Changes During the
Week; Buying Is Higher
NEW YORK, May "a. - Aside
from slight further easing in
the general price level of lines,
more particularly in evidence in
iron and steel and speculatively
dealt-in products OF farm origin,
there are strikingly few changes
to be observed in the general
trade and industrial field, Brad
streets will report tomorrow.
Whereas in a number Of sur
plus crop-producing areas rains
have retarded planting and re-
stricted rural buying, something
like an offset is found in the ap-
parently good start, due to copious
moisture, for the bulk of the
spring-sown acreage. This latter
probably accounts for the slightly
more cheerful tone, based ap.
parently on the prospect of larger
yields of most crops as compared
with rather less than average
yields Of leading crops, particu.
larly cereals, last year.
Purchasing Gains
At a few markets, too, there are
signs of a closer approach to a
year ago than in recent months
in the volume of day-to-day buy
ing, which tends to strengthen
the impression that the purchas.
ing tendency has found levels at
which new buying may be made
with a shade more confidence
than existed for some time past.
Perhaps aiding this idea has
been the wider scope of employ
ment in outside occupations. which
tends to more than offset the
slight reduction indicated in fac
tory operations from earlier peri
DDS.
In retail distribution there is
more mention of sales" by de-
partment stores and other large
retailers which have resulted in
moving Of surplus stocks.
The iron and steel trade pre-.
sents numerous examples of price
easing, this running pretty well
through the list of products from
steel scrap and pig iron to sudh
finished products as plates, bars,
automobile sheets and similar
lines.
Pipe Sales Grow
1t Is to be noted that while this
easing may possibly indicate
smaller takings, there is to be seen
oh the other hand a notable ex-
pansion in buying of structural
materials and pipe, the demand
for which latter shows no sign of
recession.
The capacity employed in iron
and steel lines ranges generally
from 70 to 80 per cent with ISL
per cent probably a fair average.
Here it might be suggested that
these percentages are quite gener.
ally based on tentative peak pro-
duction which tends to enlarge
yearly and to certain extent off
set the reduced percentages noted
in actual operation from earlier
months or from last year.
! Compared with a year ago
recognized indexes of iron and
steel show declines of to 712
per cent. accordingly as crude
or finished products are consid-
cred.
In soft coal last weeks reports
of reduced totals of stocks in
hands Of commercial users are
confirmed In the lumber trade
smaller production offers sort
of balance to the rather low
ebb reported in new buying.
In the textiles trades features
are a continuance of the re-
duced production of cotton goods,
this, according to earlier agree.
ment, and some shading Of silk
output.
In the machine tool trades,
while a large volume of bust
ness is reported being consid-
cred, the actual sales are re-
stricted. In the hardware trade,
more activity in seasonal lines
is noted. In furniture, opera
tions are still at rather slow
pace.
In nonferrous metals, the con-
sensus of reports is that sales
Of copper in May have been of
enormous volume and a side light
on this is had in reports of
freer buying of copper wire for
which the enlarged buying by
electrical interests is, no doubt,
partly responsible.
III KHIeIH III