Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-25
Commodity Price
Trends of Week
BY II. N. McGILL.
Editor McGill Commodity Service.

AUBURNDALE, Mass. october Is
Pl.-More commodity groups declined
during the past week than advanced,
yet the average for all commodities was
moderately higher. The extent OF price
movements since the first Of the year Is
well illustrated by comparison OF
monthly index figures since the flrst OF
the year: January, 500; February, $50;
March, 1913; April. 835; May. BIB;
June, 1913; July, 1873; August, 1871;
September, 76.5; October, 1853. During
the past week out of Is individual IN
dices five advanced, eight declined and
two remain unchanged.
Raw Material Inventories.
Latest data on raw material inven-
tories show a decided increase COM
pared with a year ago. Sixteen out OF
% basic commodities show larger stocks
over 1929. outstanding being copper,
rubber, zinc, tin, sugar, cotton and ce-
| ment. Stocks Of important commodities
which are lower than q year ago are
petroleum, coal, silk and alcohol.
There is considerable truth in the
axiom that history repeats itself. It Is
generally agreed that commodity prices
are still headed fundamentally down.
! ward and the broad movements usually
continue over period Of 20 to 80 years.
Ten years of declining prices have al
ready taken place. Such broad move
| mentS, however, are not just one con-
| tinuouS decline, but are subject 10 con-
slant interruptions. Commodity prices
today are barely 20 per cent above 1918
and there are great number of COM
modities which are close to and even
below the cost Of production. This rep
resents q powerful influence which in
the course of time will pave the way
! for a much sounder relationship be-
| tween supply and demand.
All Commodity Prices.
Moderate advances were made by all
commodity prices last week. This up
turn was due to moderately higher
| prices for both agricultural products
and live stock, paint materials and fine
textiles. Declines were of q limited
character, with the exception of hides
and leather, which recorded q substan-
| tial drop.
Non-FerrOus Metals.
A new low was again established by
| non-ferrouS metals, as copper dropped
to 91a cents, which is the lowest price
since 1895. Zinc and lead are holding
close to the extreme lows, while tin has
| advanced sharply from the low estab-
lished on the 14th of this month.
Fine Textiles.
More strength was recorded by fine
| REPRESENTING bAAC 4A0b AS0A ALL
terruption in the decline which has been
| in effect for many months. Cotton re-
corded a distinct upward trend, and
silk registered a moderate recovery
from the lows established earlier In the
month.
Industrial Commodities.
| Industrial commodities were lower,
bringing the average ~ per cent under
the base year 1929. This was caused
by lower quotations in building mate
rails, fuels, hides and leather, metals
and vegetable oils.
| Agricultural Prices.
These advanced, now comparable with
the level which held two weeks ago.
The facts show that farm products,
| following a severe price decline OF n
per cent from year ago, are now
showing decided resistance to a lower
price level. Normal seasonal charac-
| teristics call for the lowest point during
the Fall period, followed by an upward
trend during the early months Of the
new year.