Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-23
BUSINESS UPSW|NG
DECLARED GENERAL
Bottom of Recent Depression
Held Reaohed-Commerce
Reports Cited.
by ]. C. RoYLE.

The trend in practically every in
dustry IN America now is upward
There Is apparently no doubt that the
bottom Of the depression has been
reached. But it is a wavy bottom.
Some industries sank deeper than
others and have further TO come back
What Secretary of Commerce Lamont
calls the key of American prosperity"
the steel industry, is responding molly
with q spurt of activity which is en-
couraging the other lines Of activity.
Building construction has done a lot
OF promising but not great deal of
fulfilling so far this year, but much of
this has been due to unusually severe
weather and the eventual development
of q large volume of building seems
sure. The weather has also hurt retail
trade, especially in the apparel lines.
The cutting down Of the number of
visitors to Winter resorts also has
checked buying of women'S wear, but
the Easter trade is expected to make up
for these deficiencies to a large extent.
Automobile Situation.
In automobile lines the replacement
business is making itself strongly felt
II IL likely that more old cars will be
strapped and replaced this year than
ever before. In washington alone
there are nearly $4,000 cars so old as to
have no value rating in the used car
red book. Moreover, the Automobile
Chamber Of Commerce plan which
would eliminate unsafe autos from the
road undoubtedly will cause retirement
q many vehicles It Is q conservative
estimate to place the replacement de-
mAnd for 1890 at more than 100000
cars
The fuel situation is not overnight
Strong competition has brought about
cuts In both crude oil and gasoline
prices In some sections last week. This
may have the effect of curtailing pro-
duction to some etent, but in the mean
time margins OF profit are being mar
rewed-
Coal Is doing somewhat better and
the opening of the season on the Great
Lakes will still further improve the
hituminous movement. Natural gas,
manufactured gas and mixtures of the
two are In the best positions Of any Of
the fuels, but even these have been
affected by the low prices for fuel oil.
Makers of agricultural implements are
working ct q high rate. The demand
for electrical equipment has shown no
signs Of faltering and plants Of the
equipment manufacturers are working
1t capacity or near II. The tire plants
are preparing for the Spring business
and have had good sized forces at work
Dividends Large.
The railroad equipment concerns are
preparing for . record years business
and freight car orders already are COM
ing In fine volume. Shipbuilding Is
more active than 1t has been for q long
time. The aviation industry has many
changes to make before it Is on \
thoroughly satisfactory basis, but an
excellent start was made last week at
the international exposition In St.
Louis, where all factors in the industry
rot together.
The volume Of dividends and interest
paid in February has been the largest
ever known in that month. Money
rates are low and there are ample funds
for legitimate needs, but 1t is perhaps
everlasting the case to say that credit
d easy. Applications for loans were
Aever more strictly scrutinized.
Copyright, 1880