Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-20
Commodity Price
Trends of Week
BY H. N. McGLL,
Editor McGill Commodity Service.


AUBURNDALE, Mass, April 20 Dr.
Commodity prices during the past week
again fluctuated within a narrow range,
moving fractionally upward from a
week ago. A year ago at this time
commodity prices were falling rapidly,
q movement which did not eliminate
until early 1881. 1t is interesting to
note that since the first of the year
commodity prices have fattened out
and are still running sidewise course.
During the past week out of IA indi-
vidual groups declined, advanced
and remain unchanged.
The degree of recovery in industrial
activity during the first quarter was
disappointing. Improvement Is noted
more in specific lines rather than gen.
orally. IRON and steel, tire. automobiles,
cotton, silk and wool, rs well as many
other basic lines, have recorded q IA
vorable upturn from the extreme low
reached last December.
The upturn, however, has not proven
broad enough to forcefully affect bear
iSh sentiment, which Stin prevails in
both industrial and agricultural sec
tons. International trade Is badly
handicapped by the critically low pur-
chasing power of foreign countries. A
check-up shows that such commodities
as rubber, wool, hides. silk, silver, cof-
fee, cocoa. tin and other products OF
foreign origin have suffered the most
critical price decline on record.
There Is still a critical n1aladjustment
in the distribution Of the worlds gold
supply. The amount Of gold recently
held in the United States reached a
new high for all time. There are signs
that the large holdings in France VIII
soon enter a process Of liquidation. In
the final analysis this country Is still
dependent upon foreign countries Tor
the distribution Of between and per
cent of annual production.
All Commodities.
Noting specific changes. the average
for all commodities was moderately
higher, due to the sharp increase in
live stock prices. Building material
prices also showed a slight up trend
The groups which declined were agri-
cultural products. hides and leather
on-ferrous metals, ferrous metals
both fine and coarse textiles and vege-
table oils.
Industrial Prices.
Industrial prices showed but little
change, holding at 66.6, compared with
668 last week. In January the weekly
industrial index averaged 679. February
682, March ST.. The present weekly
figure Is 666.
Agricultural Prices.
Agricultural prices remained stable
Preliminary reports clearly show that
acreage has not been reduced TO any
appreciable amount. Growing condi-
lions to date are favorable. Prospects
favor total production comparable with
a year ago. To this must be added q
carryover above averages.
Live Stock.
A substantial gain over the previous
week was registered by live stock, prices
for cattle, hogs and lambs all regis
tering a favorable increase.
Hides and Leather.
The hide and leather index dropped
further last week, solely due to the de-
cline in hide prices. All grades OF
leather remained stable.
Other groups which decliHed were
textiles, both fine and coarse. due prin-
cipally to cotton and silk, and to burlap
in the coarse textile group. Non-fer-
rous metals declined sharply again, due
principally to further declines in cop
per, tin and zinc.