Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-10
Commodity Price
Trends of Week
BY II. N. McGILL.

Editor McGill Commodity Service.
AUBURNDALE, Mass, March 10 (P)
During the past week more COM
modify groups advanced than declined,
yet the average for all commodities was
moderately lower. This means that the
extent of the price decline in four spe-
cific groups offset the slight increase
which occurred in five groups Noting
specific changes in IA individual groups,
advanced, declined and 5 remain
unchanged.
The total volume of business con-
tinues to show strong resistance against
the downward trend, which was so pro-
nounced during the closing months of
1880. The economic background for any
broad revival in industrial inactivity and
commodity prices is lacking. Reports
received from the various sections of the
country clearly show that there IS a
much better sentiment prevailing. 1t Is
rapidly being recognized that with pro-
duction schedules the lowest on mod
ern records, there is little danger of
any further burdensome accumulation
of stocks, either of raw materials or
finished goods.
Gold Distribution.
One factor which will prolong the
period of business convalescence will be
the unequaled distribution of gold
among the various nations. France and
the United States today maintain the
bulk of the worlds gold supply. The
inability of foreign countries to buy &C
lively largely explains why the volume
of exports from this country in 1880
declined 81 per cent from the previous
year. The basic trouble throughout the
world is .underconsumption rather than
overproduction. In large measure, the
inevitable effect of limited credit has
already accomplished its work, as the
status of business at Is per cent under
normal discounts the inability of many
nations to purchase actively.
In general, commodity prices are
moderately weak, and there is no asSur-
ance that the extreme low point has
been reached.
All Commodities.
Noting specific changes, the average
of all commodities recorded another de-
cline, bringing the level of prices to a
new low. The decline was directly at
tributable to further marked decline
in live stock prices, lower quotations
for hides and leather, price weakness
in textiles and a moderately lower price
level for industrial products.
Agricultural Products.
Renewed I6SlSCdICe dBdlIlob q AOhA
ward trend. was shown by agricultural
products, which were successful in
establishing prices slightly above the
level of the previous week. The mar
kets are extremely sensitive and will
continue to reflect rumors pertaining to
acreage development and weather dis
turbances. World competition in agri-
culture promises to continue keen, par
ticularly as long as foreign countries
maintain expansion programs.
Hides and Leather.
Hides and leather recorded more
price weakness than any other group.
In the course of two years the index for
this group has declined 81 per cent.
Hides stand 62 per cent under 1913.
Non-Ferrous Metals.
Non-ferrous metals were moderately
high, due to advances in copper, silver
and zinc.
During the past week the five groups
which showed no price change were
textiles, coarse ferrous metals fuels,
chemicals and building materials. The
fl groups which were higher were ag-
ricultural products, non-ferrous metals,
paint materials, paper and pulp and
vegetable oils.
Important Price Changes