The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-09-19
Reassuring Symptoms Are Gains
in Many Lines and Fore.
cast Of Betterments
sTEADIER PRICES IMPLIED
Beneath Irregularities in Steel,
Trend Of Seasonal Uplift
Is Indicated

which still prevail. the upturn in bus
mess is more clearly defined. says
the weekly review Of trade issued by
r. q. Dun and Company.
According to the review, any other
result now, even in a year OF sweep
Ing economic transition, would mark
a distinct department from precedent,
the current trend being IN line with
the usual experience at this period.
After two weeks Of September, 1t is
possible to take q more hopeful view
of the outlook, and this better feel
ing is supported both by expectations
Of improvement to come and some
tangible instances Of present gains.
The latter vary in degree and DO not
extend to every branch Of enterprise,
vet the favorable indications are In
creasing and are beginning to appear
more plainly in certain Of the statis-
tical barometers. Reiteration OF the
probability Of gradual commercial re-
covery is important at this time, ana
conservative opinion stresses the de-
STABILITY Of a slow revival based upon
sounder conditions, rather than .
quick advance occurring before all
necessary adjustments have been
completed.
Surveys of separate industries and
trades disclose many irregularities
and conflicting tendencies, but the
main movement toward the CUSTOM
ary autumn acceleration Of activity
is not obScured, says the review.
AS q whole, demands in distributing
channels are broadening, and this
serves to strengthen the balance be-
tween production and consumption
and points to steadier prices IN pr1-
mary markets.
Indeed, one Of the most significant
facts OF the existing situation Is the
progress In the direction Of greater
firmness in wholesale quotations,
this status being revealed In Dun's
weekly list. Instead of the wide x
cess Of reccssions which had been 30
persistent, the latest tabulation shows
q check to the decline, with some raw
materials participating in the bet
terment. It may still be too early to
conclude that commodity prices have
touched bottom. although more signs
of sterilization have been noted In
recent weeks. Thus, far, the uplift
in business has been of moderate pro-
portions only, but the change has
been helpful to general sentiment.
The report continues:
Corn Crop Estimate Reduced
It was q foregone conclusion that
the estimate Of the orn crop. based
on conditions as of September !,
would show a reduction, but the de-
crease was below many expectations.
The government statement issued this
week had been awaited with unusual
interest, because of the intense heat
and drought in August, and the pros
pective harvest was placed at 1885,
100000 bushels. That represents q
decline Of about 229.O00.O0 0 bushels
from the forecast 90 OF August l, and
the indicated production this season
falls 631 ,OO0, 1000 bushels under the
comparatively moderate yield OF 1929.
It Is, moreover, the smallest total re-
ported for many years. Conversely.
the probable wheat crop Is calculated
at 837, 76l. 900 bushels, OF fully $780,
600 bushels more than the quantity
raised last year. In contrast with the
experience in corn, 100000 bushels
were added to the estimated output
OF wheat during August.
Steel Trade Trends Conflicting
Conflicting reports and statistics
: have continued to come from the steel
industry, but this is not considered
unnatural in q year Of far-reachine
readjustments. Beneath the surface
irregularities. there is q trend toward
seasonal uplift, and general senti-
ment is more hopeful. Purchasing Of
railroad equipment Is counted upon
to give further impetus to activity
during the fall and winter. Already
some STABLE contracts for rails have
been placed. and at least some buy
ing OF rolling stock has come out.
Broader Activity In Textiles
6upplementing the upward trend
visible In recent preceding weeks, dry
goods trading made further progress
this week. The advance has been
moderate and Of q seasonal character
but the fact that tangible improve
ment has come is encouraging. As q
reflection Of the better conditions
merchants are expressing more con-
fidence In the outlook for fall. Dis
tributors and retailers Of cotton
goods have been purchasing more
freely, while the volume of contract
business placed has considerably
strengthened the relation Of stocks
to untitled orders. It Is not felt that
activity thus far has made q suffi-
Client gain to indicate any early res
toration Of full production, yet de-
velopments are believed to point Il
distinctly more promising prospects
Curtailment Of outputs remains dras-
tic ct the principal centers Of textile
manufacture, but nearly all advices
are more cheerful as to the quantity
Of new business coming forward.
Hide Prices Turn Upward
A decided turn for the better has
come In domestic hide markets, both
IN point of new business and the post
ton Of pr1ce9. With heavy buying
quotations on the various selections 81
this raw material have been advanced
I cent to III cent over the recent Low
BASH. and sellers naturally are en-.
coufaged ~ the decided change In
the SitNntton. AS q reflection OF the
strQ2E& cCnditions, the price for No
! ~ hides In Chicago rose to Il
eeQts,H exIlS narrowing the difference
hetween the present level and that
o. year $50.
The Texas Bar association II rats.
Ing e36.000 10 erect memorial q
Augttn eclnmemoratine the founding
= fhe stats judiciary.