Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-01
IRREGULAR TREND
IN INDUSTRY SEEN
Warm Weather and Price
Fluctuations Noted in
Weekly Reviews.
Special Dispatch to The Star.

|. Special Dispatch to The Star.
NEW YORK. March 1.-The varied
effects on trade and industry of the
two main factors of the past week-that
is, the unreasonable warm weather and
the fluctuations in the prices of Lead
ing commodities-have strengthened
earlier predictions that the recovery
from the November speculative slump
would be at an irregular pace, accord-
ing to the commercial reviews.
r. G. Dun & Co.'s Weekly Review of
Business says in part:
Following a speculative disturbances
OF great intensity, it would hardly have
Deen logical to expect rapid general re-
coVery, adjustments to new conditions
requiring time for their completion.
That some definite gains have been
achieved, however, Is evident, and the
commercial structure has shown a graf
Tying measure of resistance to adverse
canoe.
Progressive depression in leading az
rlcultural products, checked only after
severe decline in prices, has been UNI
setting, yet surface changes in senti-
ment 40 not obscure the underlying con-
11dence in the more distant outlook.
with recognition of the fact that trade
revival is likely TO be a slow and irreg-
ular movement, the obstacles which APP
pear now in varied form are to be re-
garded as inevitable concomitants of a
~eriod of transition.
Uncertainty in Textile Trade.
Evidences of betterment in textile
trades are not absent, yet certain fac
TORS nave combined to cause uncer-
taiVtu rhnca
the reduced prices for Fall woolens and
worsteds and the conspicuous depres-
sion In cotton and wheat. Markets for
the latter commodities recovered after
! an early break this week. but recent
severe declines have raised the question
, OF the probable effect upon farmer pur-
! chasing power.
The attendance of buyers in dry
goods channels has made a good
+ showing, but hesitation is indicated
by the fact that individual commit
! ments have been smaller and have not
disclosed any purpose to anticipate
needs freely. The principal textile
raw materials have fallen in price, with
especially sharp breaks in cotton, and
the not unnatural result has been a
trend toward lower quotations on
goods.
From preliminary data available at
this writing it appears that February
| has been marked by a substantial de-
| cline in business mortality. Such
! showing was to be expected, In view of
the short month, and present ind ca
lions point to reduction of about Is
per cent from January's high record of
2,759 commercial defaults.
The liabilities for last month will.
1t is expected. disclose a decrease Of
approx mately Is per cent. Compare
son with the returns of February OF
other years. however, shows that last
months indebtedness was the largest
| for the period since 1922. while this
also is true Of the number of in
solvencies.''
Varied Effect Of Weather.
Bradstreet's State of Trade says, in
part MILD weather caused the virtual
disappearance of snow from all parts
of the country. except a few extreme
Northern regions; slowed sales of do
nestle grades Of coal, started the
growth of Winter wheat in some Sec
tons and provided a stimulus to move
ment Of Spring lines of clothing in GER
! tain areas, while IL slowed down final
! clearance sales of Winter apparel In
others.
THE heavy break and partial recov-
cry in prices for wheat, corn and cot
ton had marked effect on the securi-
! Tics uIdIhClS dLlQ IAiC NOItC VI UuolAiCoo
| in general. The fluctuations of cotton
naturally held trade in cotton cloths
| dos to a hand-to-mouth basis, small.
but frequent orders, being the rule. The
| loyaT level of wheat prices was said to
! have brought good orders to flour mills
in the Southwest, but operations In the
Northwest we're still at a low ebb.
Much irregularity was observable, as
between various sections of the coun-
try ira he fiORge nf nth0r fVaHtle-
tries than flour milling. In the steel
trade the expansion in operations APP
| parently halted, as regards the country
as a whole but there was stepping UP
of plant activities in the leading Mid
die Western centers, contrasting with
some recession in the East. Buying OF
steel by automobile manufacturers SUBJ
sided somewhat, but there was good
volume of railway rolling stock booked,
| and farm implement, machine tool and
| pipe line orders came in steady volume.
Prices were variable, with strength
| in bars and plates, and weakness in
some grades Of scrap, pig iron and wire
rods. Railroad orders continued to be,
perhaps, the chief feature of the steel
! markets. Freight car bookings were
said to be the heaviest for this time Of
year since 1926.
Copper In Good Demand.
TN the non ferrous metals field. cop
per was taken in good quantities while
the other metals were quiet. tin prices
weakening. Reports on sales Of farm
implements were surprisingly good, Civ
ing some color to the statement, re-
peated in some quarters, that the de-
enc In grain prices in recent months
has fallen on dealers and spectators
more heavily than on the farmers them
selves.
Machine tool plants appeared fairly
4 active, and there was some Improvement
in demand for hardware. In the auto
mobile industry the expansion of opera
tons was slow and highly irregular, with
the makers of low-priced cars. as in
earlier weeks, furnishing the best re-
ports. The ever-prssent used-var prob
lem continued source Of much COM
plant"