Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-04
BUSINESS TRENDS
HELD CONFLICTING.
Weekly Reviews Find Diff
Guilty in Estimating Sea-
sonaI Gains.
pecial Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, october 4.-Conficting
trends in the various markets make
it difficult to estimate business condi-
lions in the past week, according to
the reviews of the mercantile agencies.
sCooler weather has increased buying,
particularly at retail but because of
the Jewish holiday the net result of
this Is hard to gauge. The sharp down.
ward trend of the stock market and
some staples, followed by upward fiuc-
tuations, are cited as incidents confus-
ing the situation with regard to sea-
sonal gains.
Dun's Review says, in part:
The final quarter of an unsettled
year begins with widespread and
vigorous commercial revival still de-
ferred, although not without some in
dications of seasonal gain. There is
now, as might be expected after
rather protracted period of uncertainty,
much sensitiveneSs to the conflicting
forces in operation, and the extensive
scope and diversity of these factors ac-
| centuate their influence
Commodity Prices.
An equilibrium in commodity prices
! is yet to be reached particularly in
| the great agricultural staples; securi-
ties markets have continued to lack
stability and sentiment has remained
confused Those are among the ma
| jor elements acting as barriers to busi-
ness progress, but they are familiar
! phases in times of readjustment. The
point has been frequently stressed that
| economic recuperation was not likely to
come otherwise than slowly and I'M
evenly, and the present absence of q
broad advance is not surprising.
| More than the ordinary fluctuation
IN the volume of trade appears in in
dividual lines from week to week. giving
the composite situation a highly irregu-
lar aspect, and there is no general up-
ward trend in the various statistical
| barometers. There is, however, a nat
urally improved status in the retail
field under the stimulus of Autumn re-
! qurements, and the increased activity
IN this channel has been aided recently
| py cold weather over considerable
area of the country.
| conditions In manufacture, as n
whole, have not changed in marked de-
gree, although buying for replenishment
OF stocks and some forward purchasing
induced by attractive prices has raised
| the level of production in certain in
| stances. In view of the unusual cir
cumstances which have prevailed for
many months and which have been
! practically worldwide conservative
/ opinion does net minimize the adjust
ments yet to be completed, even while
| recognizing the Importance of the re-
SultS already achieved in strengthening
| the basic structure of business. Ultt-
| mately, there will be a fuller response
| TO the better fundamental position and
/ II VIII be facilitated by the abundance
| OF funds available at exceptionally low
/ rates. Instead of the growing monetary
tension OF year ago, with abnormallyir,-
mated loans on speculative account. the
current trend is toward further ease in
both respects.
Bradstreets says, in part:
WeatheE Aids Sales.
"On the strictly constructive side of
the account, the advent of much de-
sired cooler weather over the greater
part of thea country acted to enlarge
nuylng, Doth at retail and wholesale,
especially the former but the sharply
conflicting counter currents, making for
activity or the reverse, render definite
measurement Of the net results of the
week rather difficult. Taken as a whole.
ri hardly measured up to anticipations.
based on the arrival Of real Shopping
weather, and September, as a whole.
while showing undoubted gains over the
| Summer months of July and August.
= HSN%ANSA-~At7
| OF definite seasonal trade and indus
1 trial advancement.
The effect of the downward COM
| modify price movement for September
/ found registration in a new low level
OF Bradstreet's Monthly Index Number,
which rather tends to disprove the idea
advanced earlier in the Summer that
the price decline, beginning in 1929,
had definitely eliminated.
Among the industries there were
signs that the recently reported buy
ing of steel had lost some of its force
with the building up of stocks of that
metal this being accompanied by weak
ness in prices of pig iron and scrap In
nonterrous metals the shading of cop
per to 10 cents, the lowest price in "a
years, was reported to have brought out
a good deal of buying.
One notable effect of the recent de-
cline in wheat was the sharply accel-
Grated increase in buying of -four, the
low price of the raw material being
said to have developed a good deal of
business in this direction. In fact, the
| last four weeks was said to have set the
cereal year definitely ahead of the like
period year ago in the matter of out
put"