Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-22
COMMERCE REVIEW
FINDS TRADE QUIET
Bank Debts Outside New
York City Decrease
During Week.

Little improvement was noted in the
weekly review of domestic business con-
ditionS conducted by the Department of
Commerce covering the period ended
February IA.
Indicators available show that bank
debts, outside New York City, decreased
from the preceding period and were
lower than the same week in 1880.
Total loans and discounts of Federal
reserve member banks also showed a
fractional decline from the previous
week and were lower than the CORE
spending week year ago.
Interest rates for call money, although
showing no change from a week ago.
were considerably below the 1880 level.
Time rates, on the other hand. while
higher than last week, were lower than
a year ago.
Average Prices.
Average prices for representative
+ stocks, rejecting increased market ac-
tivity, were well above the prices paid
during the preceding week. Bond
prices also showed an upward movement
and were higher than the same week in
1880.
Business failures as reported by the
r. G. Dun & Co were less numerous
than both comparative periods
wholesale prices, as measured by
FISHERS composite index of 100 leading
commodities, we're off slightly from the
level of the prece ding week. The de-
cline in prices for agricultural products
was almost Offset by the increases in
prices OF non-agricultural articles The
price of middling cotton at New York
increased over the previous week. while
IRON and steel prices remained un-
changed. Both prices were lower than
year ago.
For the week increases occurred over
the corresponding period in 1929, two
years ago, in bond prices, the Federal
reserve ratio, and net demand and
time deposits.
In the foreign situation, Argentine
commercial circles were more optimistic
owing to heavy exports of cereals. con-
tlnued good crop weather and a rise in
the exchange value of the peso. Ex-
ports OF cereals for the year to date
amounted to 1,7l9,000 metric tons, as
compared with $4,000 the correspond
ing period of last year.
Inc Brazilian milreis exchange dur
ing the week declined to IL milreis
l0O refs and to an average of IL milreis
BOB refs to the dollar. Coffee shipments
from Santos amounted to 2O4 900 bags.
and from Rio de Janeiro to "a 900 bags.
Prices were firm, except that there was
a slight increase in the price of Rio Is.
Improvement in Canada.
slight improvement in manufac-
turing activity in Canada is noted. and
wholesale and retail trade shows signs
OF seasonal turn for the better.
Higher wheat prices have brought about
an improvement in business sentiment
IN the West, although actual turnover
has not been affected. Collections show
comparatively little change. Reports on
the automobile trade following the an
nual shows indicate that the furry In
Montreal demand for cars has not been
sustained, but that sales of parts and
accessories are fairly good
In the Philippines there is no i'm
provement, except for a slightly favor
able undertone in certain textile lines
Retail trade continues stagnant Credits
and collections are unchanged, but the
bulk of year end settlements seems to
have been made without the anticipated
degree of difficulty showing fairly clean
books, and the wholesale effects of the
careful credit policies practiced during
the last IS months.