Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-07
RETAIL SALES GAIN
|. BEING MAINTAINED
Reports Thus Far in June
Show Total Above Fig
ures for 1929.
BY ]. C. ROYLE.

Industry eased back into its stride
this week after the Decoration day holi-
day with the utmost smoothness. but
without the Semblance of a squirt to
make up the ground which had been
lost. There is, however, an underlying
steadineSs apparent in the basic indus
tries that is most gratifying to business
men, financiers and economists.
The most encouraging sign observable
is the volume of retail trade. This is
maintaining a total we'll above the
records established in early June, 1929.
Retail trade is the final barometer of
business, for it represents the passage
of goods into the hands of ultimate con-
Sumers. This entails the buying of
goods by retailers, wholesalers and man.
ufacturerS and the shipment of goods
to the profit of the transportation COM
panies. There is no question but that
inventories are being steadily depleted.
This means that purchasing Of replace
ments is bound to be in order within a
short time.
Steel Operations.
Steel production is not being pushed
to higher levels, but it is being extremely
well sustained in most lines. In fact,
so strong has been the demand that
there has been distinct printing OF
price, although increases in quotations
have been merely of minor character.
The improvement in demand from the
automobile industry has been a factor.
So also has been the buying of pipe
and tubular goods incident to gas line
construction. Metal used in road con-
struction also is in active demand, while
the developments of power companies
and utilities are Being maintained at a
pace which assures a definite amount
of business to the steel companies.
On the other hand, residential build
| ing Is extremely low, and steel men are
watching with the utmost care the
trend of public works construction tC
determine just how long its pace will
| be maintained. The recent ocean mail
contracts. which have been signed, have
brought demand for large amount
of steel for ship construction in the
| form of plates and shapes.
Automobile activities are speeding up
and in an entirely healthy manner
Foreign trade is not at satisfactory
level, and probably will not be until the
tariff bill is definitely out of the way.
Building material prices are showing
no remarkable changes either up oil
down, although construction in genera
| is not up to the level of this time last
year. This is shown by the fact thai
fairly large percentage of the $50 ,00(
/
ployment. While oil production is show
| ing little difference one way or th'
other, the daily averages are running
about the same from week to week, adj
vancing one week and receding the
next. In spite of this fact, a number
of oil companies are making very sat
isfactory profits at present prices.
Coal Industry.
The coal industry is still in an unsat.
isfactory position, although the posi-
bility of any acute labor disturbance IL
the anthracite field seems to be grow
| ing DINNER as the time for new con
tracts in August approaches. The tex
| tile trades are doing fairly we'll; better
| in fact, than q number of other line!
which are popularity supposed to b'
more prosperous. Raw material price!
are favorable, and the slow process o
| getting rid of obsolete plants and excess
production is at last showing results.
There is a general dizziness in evil
dence in the non-ferrous metal market
Silver has descended to another new
1 low, and there seems to be little hop
! for marked recovery until conditions
change in the Far East. Demand fol
lead and zinc has fallen off, and bust
ness in copper has been merely fair.
| Copyright, 1900