The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-10-03
TRADE IS IMPROVING
IN VARIOUS AREAS,
DUN'S REVIEW FINDS
Progress Out of Summer Dull
ness Is irregular but, on
Whole, Encouraging
LOW PRICES ATTRACTING
Certain Raw Materials Such
Bargains as to Inspire Or
ders; Steel Betters

Even in a situation which still has
many confusing and uncertain ele-
nents, with accented unsettlement in
speculative markets, the more prom
Using signs in business are not OBJ
scured, says r. G. Dun & Co.'S weekly
review of trade. It continues:
Surveys of individual lines con-
tinue to disclose numerous irregular
and unsatisfactory phases, but condl-
tons viewed in their entirety reveal a
moderately better trend. Reports from
t. different sections of the country,
covering widely diversified trades, re-
fleet a maintenance of the gradual
gains that began with the passing OF
tie summer, with a slow broadening
of the circle of improvement. Nothing
in the current dispatches warrants
other than conservative expectations,
yet the composite sentiment is more
cheerful. Since confidence is essential
to commrcial progress, particularly
after a period of stress, the present
disposition to regard the outlook more
hopefully is encouraging. Consider
al already has been accomplished IN
laying a foundation for ultimate gen.
eral economic recovery, and the adj
5tments which yet remain to be
completed appear to be, as a whole,
les disturbing.
That certain raw materials and
semi-finished products are believed
to be an advantageous purchase at
existing low prices is indicated by the
willingness of some buyers to con-
tract ahead, but various other com-
r1odities are in a mor unstable po-
sition and forward commitments are
discouraged. Even eliminating food
Stuff's, Dun's list of wholesale quota
tic.ls lacks evidence that a definite
turning point has been reached, al
though declines recently were not so
preponderantly in the majority.
It was not to be anticipated, follow
ing a protracted transition, that a
single month would bring a decisive
business revival, and the factor of
seasonal stimulus is not to be dis
regarded in September's betterment.
Any change in the right direction,
however, is something gained, and
some additions to factory forces, al
though scattered, art a favorable
c--ury.
Thus far, only a few Of the statas-
L al barometers have reflected q re-
versal of the prolonged recession, yet
steel output has risen a little more,
without the support of important Or
ders from some of the larger con-
sumers, and railroad freight traffic is
showing the tendency toward upturn
which normally comes during the
ann.
Speculative Markets Still Unsettled
The unsettlement in speculative
markets has resulted in still lower
prices for stocks. grains al cotton
Much of the upset, especially in grains
and stocks, was due to rumorS Of an
u~.-favorable character. and the price
declines were accelerated by rather
aggressive bearish operations. New low
levels for both wheat and cotton were
recorded, while stocks dropped abrupt.
ly at times and certain issues broke
through their previous bottom points
Rallies were, for the most part, in
decisive, the prevailing trend being
downward.
A feature apart from the specu'
lct...ve disturbance was the further cas-
ing in money rates, with funds for TIN
fixed periods receding to the loves
basis in many years. Thus. loans TO
four to six months we're quoted at az
to "a per cent, which contraSted IL
a striking way with the charges o
8 End ga per cent named a year age
Steel, Textiles, Hides
News from the steel industry thi
week, as was to be expected, lack
uniformity. but further indications o
betterment appeared.
When allowance is made for tn
observance of the Jewish holidays thi
week, the more favorable character
tsticS recently developed in the textil
trades have been maintained. Moderat
gains have been the rule, but tn
more encouraging trend has been dis
tinct, and some prices are steadyinl
Recurring periods of unsettlemen
IN hide markets continue, the lates
trend being in q downward direction