Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-11
GAIN IN BUSINESS
SHOWN IN SURVEYS
Steel Output Greater-BuyI
Ing of Commodities Re-
veaIs Improvement.
Special Dispatch to The star.

Special Dispatch TO The star.
NEW YORK, January 1.-THE minor
changes In business % far In the new
year have been mainly In the direction
Of improvement, with o rather deliber-
ate resumption OF industry following
inventory shutdowns and with post
holiday sales and gradual stepping up
OF wholesale and jo6bing trade, accord
Ing 10 the weekly reviews. One Of the
important factors In the general I'm.
provement has been an easing Of money
markets.
r. 6. DUN g. Co.'S review Of business
says, in part:
1.-THE passing Of the unbridled specu-
lation In stocks has definitely relieved
the acute credit tension, while permit
ting the release Of funds into other.
channels where their employment will
be helpful to commercial advancement.
That change was essential to economic;
stability and 1t Ii giving support now To
other elements which are making for
ultimate trade recovery. It was hardly
TO be expected that the recupefation
would develop rapidly, for time Il neces<
sArily required for o completion Of re-
adjustments after q major financial
upset, ana the recent shock was espe-
cially severe.
"a strong basis for renewed prog
ress exists, however, and scattered
signs of gradual improvement ap-,
peared this week. Gains are to be-
looked for following the year-end holi-,
days and inventorying, and they have.
come, although slowly, In one OF the
great basic industries. Thus steel out
put has risen above the low point of
December and an additional increase
revival OF demand for copper, more pur4i
chasing Of textiles and also Of hides
and leather. The continued caution
among buyers Is clearly evidenced and
Ia accumulated by uncertainty regarding
prices, yet supplies In different instances
are apparently In need of replenisl1z,
ment, and this fact encourages hopes
OF larger commitments In the future. 3
Warm Weather Harmful. i!
"As usual, special January sales haveI
been featured in the retail field, but
distribution OF seasonable goods has
been restrained in various sections by
exceptionally high temperatures for the
period: Results Of Christmas trade, on
the other hand, gave proof Of o sus-
tanned large consuming power, the
turnover OF medium priced merchandise,
being particularly satisfactory In view
OF the preceding speculative collapse"
BrAdstreet's state Of trade says, irP
part:
Perhaps the chief outstanding feaS
ture Of the week In the matter Of new
operations has been the better buying
OF steel, this mainly on account OF
stepping-up operations in December.
and o like raising Of steel productive
operations from the low points Of last
year, with from SO to so, In some few
instances rs, per cent Of capacity at
work. Accompanying this has been
some irfegularity Of prices In sheets,
bars ana strips for automobile manu-.
facturers, but with rather marked
strength reported In the steel scrap
market. Y
Situation in Lighter Industries.
I'm the other, and especially in the
lighter, industries, marked changes are
/ rare and resumption Of operations Is
leisurely. Curtailment In cotton manu-
silk ana rayon manufacturing show
much more life. Ease In leather pricea
has affected buying, but from both East
and West there are reports of cutting
up operations having been expanded in
both sole and upper grades preparatory
| to new shoe making. In the furniture
trades the usual January shows have
cheerful reports as to orders placed ct
both Chicago and Grand Rapids.
1.-THE weather has not been altogether
| favorable to new activities, because of
| q spell Of very high temperatures being
followed in the West and Northwest bv
widespread storm OF rain, sleet Of
snow. and, finally, very cold weather.
| The warm weather has fingered In the
| Eastern half Of the country, with d
slowing up effect on sales Of seasonable
goods. Collections have continued to
| lag. (;
Building is, naturally, at o low ebbI
this based on seasonal conditions In the
country as q whole and the low ebb In
permit operations reached in the late
months Of 1929. December permit values
in ais cities were the lightest In years
and 43 per cent below the like month
year ago. For the calendar year the
total permitted for value In ais cities
was the smallest since 1922. The de-
crease from 1928 was lis per cent and
the decline from the peak year, 1895
was % q nep cent +,