Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-03
ADDED DEPRESSION
!. WAS APRIL TREND
U. S. Department Of Com
merce Report Shows Fur
ther Decline Last Week.
Nv the Associated Press.

~ the Associated Press.
Depression at home and abroad be-
came more firmly entrenched during
the week ended April as as the situation
was sized up by the Department OF
Commerce in its weekly report.
Bank debts, outside New York City,
declined slightly from the preceding
week. They were Ills per cent lower
loans and discounts of Federal Reserve
member banks were smaller than both
comparative periods.
Interest rates for time money were
considerably lower than the average Tor
the preceding week, but call money
rates remained the same as for the
previous week. Both time and CAL
interest rates were materially under
this time last year. Average prices Tor
representative stocks were lower IMAM
the previous week, reaching the lowest
point so far this year, and materially
under the quotations Of year ago.
Commodities Decline.
Wholesale prices, as measured by
Fishers composite index Of 100 COM
modities continued the decline which
was resumed during the last week in
March. The prices of agricultural
previous week, while the decline in the
price of the non-agricultural group was
only slight. A drop was witnessed In
the price of electrolytic copper, and the
prices of cotton middling and iron and
steel also declined slightly from the
week previous All these were ma
terially lower than in 1880.
For the period, increases over the
corresponding period in 1929, two years
ago, occurred m bond prices, number
of business failures, Federal Reserve
deposits.
The economic situation Of Argentina
is somewhat better, although the further
depreciation CT the peso exchange
caused some hesitation on the part of
buyers, and the unsettled political situa-
ton had some adverse effect on trade
generally. Exports during the first
--ree months amounted to 3,975,e6l
IONS, valued at 162 ,000, 900 gold pesos.
In Brazil, the continued weakness OF
the milreis, which reached the un-
precedented low level Of II milreiS, 100
refs to the dollar on April 20, constitutes
the principal obstacle to the improve
ment Of the general business situation
This factor was responsible for the rise
in milreis coffee prices and for the
maintenance Of the heavy export move
ment Of coffee.
Canadian Buying Gains.
Featured by heavier buying at Mon
treal, Canadian trade reports indicate
further small gains in volume with the
emphasis on seasonal lines. In Quebec
and the maritime provinces, wholesale
orders are larger and collections easier,
while retail business has improved in
automobiles, textiles and hardware.
Spring lines of the latter are moving
exceptionally well. Motor truck sales
are slow and heavy electrical business Is
dull but appliance sales are brisk.
The situation in Cuba Is unchanged.
The volume of business continues low,
houses reporting serious declines from
last year. Buying in all clothing lines
showed q slight improvement during
the month as warmer weather has
stimulated the demand for Summer
wear in garments, shoes and millinery.
Practically all Summer stocks are now
on hand, and some clearance has been
made in left over stocks through series
of sales In the retail establishments:
Owing to the abuse of the practice OF
suspension Of payments by large and
small business houses, the Cuban Cham
Der CT Commerce is starting movement
for a reform in the laws so that credit
ors may receive better protection from
doubtful bankruptcy proceedings.