Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-22
SIGNS OF RECOVERY
IN TRADE ARE SEEN
Weekly Reviews Find Gradual
Upturn in industrial
Situation.
Special Dispatch to The star.

NEW YORK, March 22.-The dis
ttnction between actual betterment In
business and prospects of gain remains
clearly defined, at least three features
Of importance standing out in the
weeks summary of industry and trade
according to the weekly reviews OF
business Perhaps the most Immediately
important one is the Stiffening of prices
of several farm products and raw mate
rails. Another is the continued easing
Of quotations for money.
Bradstreet's review Of the state OF
trade says:
a third feature early predicted,
based partly, by the way, on the late
date of Easter this year, has been the
evident leisurely advance OF Spring
buying, which, it is now conceded, has
run true to traditions of other similar
years.
SIN grains, it is worth noting that
the chief strength has been i'll those
products which have not been sub
jects of public price control, notably
corn and rye, whose gains have out
stripped those of wheat. Buying for
storage is noted rather early in eggs,
and butter also has steadied. Excep-
lions to the added strength of prices
have been noted in wool, and re-
echo of this is possibly to be had in
reports of irregularities in goods buy
ing, with further revisions of manu-
featured lines, announced this week.
Steel Industry Steadier.
'In the steel trade the trend of re-
ports is that following the decline in
buying and in mill activity, there has
come a steadying down of operations in
the industry, as a whole, at about IS
per cent of capacity, while the slight
relative tapering of of production In
automobiles is connected with the dis
position to await developments in the
season now opening. There is notice
able among steel trade authorities a
feeling that, buoyed by the large orders
for heavy lines, such as rails and Struc-
tural material late last year and early
in 1880, steel production was stepped
up too rapidly in January, and that
period of digestion of production is now
In progress. The really new feature IN
the steel trade seems to be the notable
expansion in buying of gas and oil pipe.
which foreshadows important outdoor
operations In the months to come. Agri-
cultural implement, tractor and road
machinery factories are still taking raw
materials freely. Steel scrap Is rather
easier and pig iron prices spotty, but
apparently good buying OF lead has
stif1ened prices of this non-ferrous
metal"
Dun's weekly revew of business says:
"A new season begins with promise
Of an extension of the commercial re-
covery, but existing conditions point to
0 gradual and uneven advance rather
than rapid and general upturn. More
than the usual divergence OF trends is to
be expected during period of eco
1lon1ic recuperation, the modification or
removal of restraints being essential to
progress, and this fact should be allowed
Tor In considering the future. The pres
ent confused aspects, with sharp con-
trasts in the various branches of pro-
ductOn and distribution. plainly reflect
the process of reimbursement but the
constructive elements are gaining in
number and force.
Gains Exceed Declines.
"Instead of the large preponderance
Of declines which had prevailed for
the last several months, the record
now diScloses q slight excess of in
creases, more firmness having devel-
oped in the principal farm staples and
IN some raw materials used in manu-
featuring The results of a single week
may not be conclusive, yet there have
been multiplying indications recently
OF lessening of the price depression,
and this is obviously an important
tendency A status of even approx
&AAhIE RAAGC 6bouAAty "Oulo NC 1lEAp4uA
to business, for many commitments
have been reduced or deferred because
of the possibility of additional conces-
sions by sellers, and there being no
particular incentive for large scale pur-
chasing.
at is the conspicuous exception
where goods are not readily available
rs they are required. but restriction of
outputs is serving to lower stocks or
ut least check the accumulations, thus
bringing about better balance between
demand and supply. Supplementing
the improved phase in prices, the per-
siStent easing of money rates is slim
uIating factor and has strengthened
sentiment In both financial and COM
mercial circles. Although actual re-
vival of trade activity is not impress
sive as Spring opens. influences max
ing for later expansion are becoming
more nrnrninentn