Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-26
BUSINESS OF WEEK
FAILS TO IMPROVE
Department of Commerce
Survey Made Here and
Abroad for April 18.
BY the Associated Press.

BY the Associated Press.
The business situation, at home and
abroad, failed to improve during the
week ended April 10, as summed up by
the Department of Commerce.
Bank debts, outside New York City,
increased from the preceding week but
were lower than the some week in 1880.
Total loans and discounts of Federal
Reserve member banks showed a frac-
tional increase from the previous week
but were considerably lower than the
corresponding week year ago. In
terest rates on call money declined
from the week previsus and were ma
terially under the 1880 level
Time money rates increased during
the week but were far below the rates
prevalent during the corresponding
week last year. Average prices of rep
resentatiYe stocks continued the decline
which started during the closing week
of March, reaching the lowest point
so far this year, with the exception of
the first week in January.
Bond prices remained the same as
for the week previous and were slightly
above the 1880 level Number of bust
81 Co., increased slightly over the pre-
vious week and were above the level Of
a year ago.
Wholesale Prices Down.
Wholesale prices, as measured by
Fishers composite index of 100 COM
modities, continued the decline which
has been under way since the third
week in March, reaching the lowest
p9int so far recorded this year.
Prices of agricultural products de-
clined fractionalIy from the week pre-
Vious, and prices of non-agricultural
products also declined to about the
same extent. The price of cotton mid
ding increased fractionally from the
week previous, while iron and steel
prices declined slightly during the week.
Both prices were lower than year ago.
In Argentina the exchange value OF
the peso dropped heavily, but recovered
somewhat toward the end of the week.
The Banco de la Nacion has issued
statement to the effect that it has de-
cided to allow the exchange market to
attain its natural level, but that II 1t
should consider it advisable 1t Will not
hesitate to resume its exchange con-
troll. The cabinet resigned and a new
one has been appointed. The political
situation continues to exercise an I'M
settling influence on trade.
Trade improvement in Canada Is gen.
orally well maintained over all sections,
although the situation in Quebec and
the maritime provinces is rather spotty
and Vancouver retail reports are I'M
favorable as the result of weather con-
ditions retarding the movement of
Spring lines. In all sections transpor-
tation equipment is quiet, with slight
promise of recovery. Manufacturers of
airplanes and equipment are fairly busy
on orders placed some months ago, but
the future is not bright
Japan More Optimistic.
Japan entered the second quarter of
the year with a slightly more optimistic
feeling in business circles as result of
the apparent sterilization of commodity
prices. Prices on the whole are still
quite low, but are holding at the Janu-
airy level, with few commodities en-
joying a slight advance in wholesale
quotations. Business continues spotty,
with some markets enjoying seasonal &C
tivity.
In Mexico the peso is showing a slight
weakening, due to the temporary mac
tivity of the Exchange Regulating Com
mission. Congressional committees are
holding hearings on the new labor bill
for the consideration of which O spe-
cial session Of Congress is to be called