Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-15
Week Ended March 7 Marked
by Gains at Home
and Abroad.
FEDERAL RESERVE RATIO
MAINTAINS HIGH FIGURE
Wholesale Prices Register initial
Increase During the Pres
ent Year.
By the Associated Pres

By the Associated Press.
An improvement in business during
the week ended March Z is noted m
the weekly review Of The situation at
home and abroad by the Department
Of Commerce.
Figures available to the department
through the survey Of current business
showed an increase of bank debts out
sloe OF New York City of 38.6 per cent
from the preceding holiday week, but
which were still under the correspond.
ing period in 1880.
Total loans and discounts OF Federal
Reserve member banks decreased slight
~ from the week previous and were
under the figures for the same week last
year. Interest rates for time money in
creased from the week previous, while
can money rates showed no change.
Both rates were materially lower than
year ago.
Bank Ratio.
The ratio of total Federal Reserves
to deposit and Federal Reserve note
liabilities combined remained the same
as Tor the week previous, but was con.
slderably above the same week in 1880.
The number of business failures, as re-
ported by r. G.. Dun g. Co., continued
TO decrease in respect to the previous
week. but were still above the same week
last year.
wholesale prices. as measured by the
composite index. showed the first in
crease this year in respect to the previ-
Gus week. The prices of agricultural
and non-agricultural products increased
lrcm the week previous. Both were I'M
Ger last year. The price of cotton mid
ding decreased fractionaIly during the
week, while the iron and steel composite
price remained the same as for the week
previous, but was under the figure re-
ported for the same week in 1880.
FOR the week increases occurred over
the corresponding period in 1929. two
years ago, in bond prices. number of
business failures. Federal Reserve ratio,
net demand deposits and time deposits.
ABROAD, the improvement which busi-
ness In the Argentine experienced in
February did not continue during the
week, owing partly to the unusual heat
wave, IS result Of which the outbound
movement OF grains as well as other ac-
INVITES were slowed down. As compared
with the corresponding month of 1880.
February sales of automobiles, and par
tlcuiarly of high-priced cars, were lower;
OF light trucks slightly lower, and of
heavy trucks the same.
ACnOu OueIupAOymenI Galn.
In Brazil the milreis exchange began
and closed the week at IL milreis refs
10 the dollar, f1uctuating to IL milreis
$50 refs, but with an average of 10 mil
refs 217 refs to the dollar. Coffee prices
were slightly firmer. Business continues
depressed owing to the milreiS exchange
uncertainty and recent depreciation.
French business has experienced an
accentuation Of the earlier depressed
conditions, with unemployment rising
Sharply, carioadings continuing to de-
cline, major industries threatening wage
decreases and financial centers reltc-
tant TO place funds. in local industries
and seeking colonial and foreign bond
outlets for their large idle credits. The
principal indices indicate a sharp con-
traction from the high level of activity
enjoyed during the similar period of
last year.
The Exchange Regulating Commission
in Mexico has maintained an official ex-
change rate Of 2S7 silver pesos per dol
lar during the last two weeks, but the
of1cial rate is only available for the
lquidation of drafts arising out of the
acGuai importation Of merchandise. The
Tree market rate has ranged about seven
centavos per dollar higher than the
onc1al rate. Some correspondents of
American banks in the interior cities of
Mexico are refusing to make collections
IN dollars or gold and insist on RENTING
the proceeds Of collections in silver.
some American companies have agreed
TO this arrangement, but others are in
slSting that banks make collections in
the currency specified by obligation.
Philippine business conditions con-
tinue conservative, with slow collections
and tight credits influencing local or
dering and the movement of goods to
provincial points.