Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-26
INDUSTRIAL GAINS
BRIGHTEN OUTLOOK
Business Reviews
Report More Cheerful
Sentiment in Trade.
Decial Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, July 26.--There are so
many factors at the present time which
would tend toward dullness in trade
that the trend during the past week is
difficult TO determine, according to the
weekly reviews of business conditions.
1t is certain, however, according to the
reviews, that sentiment continues cher
full, with a few instances of expansion
apparent.
Bradstreet's says, in part:
What apparently are new visible
basic developments have TO do largely
with the effect of the long-continued
heat and drought upon the country's
crops, which, so far as can be judged
at the present moment, point to less
abundant yields than earlier expected,
this being backed up by higher prices
for the leading grains, especially wheat,
corn and some dairy products.
$50 far as can be indicated now, the
slightly larger than earlier indicated
output of Winter wheat has been more
than balanced by reduced promise in
Spring wheat, while the really out
standing feature is the relatively greater
strength of corn. which has apparently
fallen off in promise and risen closer
to price parity with the so-called
premier grain, wheat.
Surplus Stocks.
Taken by themselves and considered
from a domestic basis, these price adj
vances do not look serious. but, con-
sidered in connection with an apparent
tendency to mark down estimates of
the yield of wheat in Europe, they
carry implications of a possible lift
stocks, which, If verified, may bring
in their train consequences which are
not now entirely predictable.
THE trade and industrial situation
at present might well be lkened to
that of a ship in a calm in slack water
and waiting for new tidal or aerial
impulse to carry it in a new direction.
week ago. The really outstanding
features are the placing of another
large order for gas pipe and reports of
good-Sized order for rails seeking
bidders. A current good demand exists
for structural steel for large work,
mainly at New York City
THE coal trade is very nearly stag
nant, as is lumber, where production
is little above so per cent of normal
capacity. In the furniture trade,
more activity is reported at some
Southern points of manufacture. In
the textiles three items of news offer.
One is that cotton mill curtailment in
the past IL months has been equiva-
lent to a reduction of $50, 100000 yards
of cotton goods.
"In woolens and worsteds gain in
mill activity in June is reported by the
trade association. In raw silk rise
from the years low is noted in prices,
coincident with a cut in prices of rayon.
Easing of raw wool at the latest London
sale from the earlier one was noted.
The new price schedule of the leading
wooden manufacturing interests shows
good-sized reduction"
Dun's Review says, in part:
"a broad survey of the commercial
situation makes it plain that adjust
ments to new conditions are cOntinu.
ing, yet better tone In some quar-
tiers has been an encouraging feature
of late. The stronger sentiment. which
also prevails in financial circles, Is
predicted chiefly upon prospective gains
in business, evidences of actual expan-
sion still being scattered.
More Hopeful Feeling.
"The basis for the more hopeful feel
ing now disclosed is the fact that the
change from Summer to Autumn is
accompanied by a natural quickening
of trade, and at least some manifesto
ton of this trend is to be looked for
this year. Moreover, the economic
transition, although not yet completed,
has progressed to point where stabil-
ization has been brought nearer, with
the restriction of outputs, the reduc-
ton of available stocks of various goods
and the lowering of prices to levels that
are more attractive to buyers being
among the elements which ultimately
should be stimulating. Such phases
invariably follow an acute disturbance,
but their far-reaching scope may be
regarded as foreshadovtng eventual
revival