Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-08
GAIN IN BUSINESS
|. OF WEEK IS SHOWN
Trade Reviews Say Warmer
Weather Is Factor-PriCeS
Still Unsettled.

Special Dispatch to The Star.
NEW YORK, March 8-There has
been little change in business condi-
tions during the past week, with favor
able and unfavorable cross-currents
each carrying about the same amount
of weight, according to the trade re-
views, The hope for widespread recov-
cry is still absent, but the arrival OF
warmer weather is causing expansion
of outdoor work on crops, highways and
building.
r. G. Dun g. Co.'S review of bust
ness says, in p. TT:
with confused elements intensified
now, contradictory opinions Of the
status of trade are not surprising, YET
the undercurrent of betterment is not
obscured. The improvement is distinct
when comparison is made with the low
point of the recession, although Its
progress is being INSTRUCTED and re-
strained by continued commodity price
unsettlement and other obstacles. In
view of the character of those impedi-
ments, business is manifesting meas
ure of resistance that demonstrates Its
inherent strength.
1T had not been expected by close
observers of the situation. however,
that a general revival would come
during the first quarter of the year,
after the disorganiation caused by
a speculative shock of unprecedented
severity. Recognition of that fact is
important in appraiSing present con-
ditions,, and their lack of balance is
a logical corollary of the economic re-
adjustment through which the country
is passing. Unevenness of trends is
common enough even in normal periods.
with so many varied enterprises, hav-
ing broad qualifications, and in times
of transition the irregularities and
contrasts are naturally accentuated.
Stock Market Conditions.
"The action of the stock market,
which has been free from disturbing
movements. has been considered re-
assuring; the position of money rates
is favorable and tends toward further
easing; industrial outputs are being
restricted where necessary to prevent
accumulations of supplies, and there
are reports of unusually low inventories
in some lines.
Certain of the statistical exhibits
moreover, are beginning to point more
plainly in the direction of advance, OF
at least a lessening of the rate of de-
cline, and these more promising por-
tents may gain in Importance during
the Spring season. The recovery in
pig iron production was sharp in Feb
ruary while a recent slight let-doWn
in steel manufacture has come only
after a decided upturn, and Is believed
to be temporary change.
Generally, the situation reflects q
gradual process of recuperation, with
disposition in many quarters to re-
gard the longer future with confidence
Slight Easing in Steel.
Bradstreets State of Trade says, In
part:
1.-The reports from the Winter wheat
crops are of the plant showing green
and in good condition i'll the Southwest
with a higher average of condition than
a year ago More life is seen in whole
sale and jobbing trade in west central
areas, but, as a whole, the changes are
not very important. Trade, as whole
in both wholesale and retail lines ranges
from fair to quiet and industry still
leads in distribution of activity.
"On the less favorable side might ht
mentioned q slight easing on in stee
buying and in operations, with the ex-
ception OF Chicago. which having reapec
a good part of past railroad orders
reports steel mills busy. especially IN
heavier lines. Reports from the auto
mobile trade are of slightly leSsenec
buying of material, such as sheets and
strips, but the agricultural implement
industry remains active, with reports OF
heavy orders for tractors, road machin-
cry and other lines affected by agricul-
tural preparations. Very large ship
ments Of tractors are noted.
Prices Still Weak.
I'm general trade, the continued
weakness of prices Of leading agricul-
tural products, such as grain, particu'
larly wheat and cotton, have tendency
to retard distant buying. The genera
price movement for the week is down
ward, this applying to imported as vel
as domestic products. In the wheat
market, estimates point to visible anc
invisible supplies combined being little
different from a year ago, when, 1t viii
be recalled, supplies We're the heaviest
in a decade. The crowded condition Of
elevators and other grain storage Struc-
lures renders the problem of meeting
another possibly good-sized crop move
ment matter of concern.
From several centers come reports
that employment conditions are such
as TO affect retail buying. Both trade
and industry are still below year ago
and the opening of the Spring season
is awaited with impatience, because OF
the possible opening up Of outdoor
work"