Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-01
CHECK PAYMENTS
SHOW SLIGHT GAIN
Commerce Department Sur
vey Indicates Volume of Bust
ness Increased in Week.
ny the Associated press.

The volume Of business for the week
ended May "a, as measured by check
payments, was l per cent greater than
that for the previous week, but less
than the corresponding week year
ago, the Commerce Department finds
in its weekly summary of business con-
ditions here and abroad.
Operations in steel plants during the
week were slightly less than for the
preceding week, but below the level of
the corresponding period of 1929.
Wholesale prices showed a decline of
less than l per cent from a week ago
and were more than per cent lower
than in 1929. The composite iron and
steel price registered a slight decline
from the previous week and a 8 per
cent drop over last year.
Loans and Discounts.
Bank loans and discounts, showing
no change from a week ago, were more
than 3 per cent greater than the same
period a year ago. Prices fo- stocks
were off slightly from the preceding
week and were more than per cent
below the level of the same week in 1929.
Business in the Argentine during May
was quiet, with continued weakness OF
the peso exchange, accentuating the
dullness which is usual at this time OF
year. Abundant rains, however, nave
assured plentiful pasturage for the
Winter, and the outlook for the live
stock and crops of the country con-
tinues to be good. A first Government
estimate places this years corn crop
at 100000 metric tons.
Steady rains during May have made
the roads impossible, resulting IN
decline of automobile sales.
In Canada, business conditions con-
tinue generally quiet, with slight I'M
provement in industrial operations, al
though this is spotty. Amendments to
the budget proposals agreed to by the
Canadian House of Commons on May
% include changes in the date OF appl-
cation of the minimum specific rates on
certain fruits and vegetables, and the
elimination of the duty on some oil the
latter.
In addition to the seasonal influence,
favorable factors in the immediate out
look are the satisfactory crop conditions
in the prairie provinces, higher wheat
prices and very active program In
mining.
On the unfavorable side the unsettling
effects of tariff changes and the i'm
pending general election are prominent:
Winnipeg wheat prices to the close OF
May % represent substantial improve
ment over the market earlier in the
month.
Foreign Business.
Mexican business continues spotty with
collections slow. Dizziness prevails in
most staple lines, owing to low purchas-
ing power in the interior of the coun-
try. Dollar exchange is strong and is
expected to remain for some time, be-
cause of the reduced volume and prices
of several export commodities.
The Australian wool market continued
to improve during the week ended may
%. Competition among continental and
Japanese buyers has been keen, and ex-
cellent clearances have resulted. New
South Wales has passed bill providing
for 48-hour week, and civil service sal
aries have been reduced one-eighth.
It is anticipated that compromise
will be reached between operators and
coal miners of New South Wales and
that mines will be opened in the near
future.