Evening star., 1933-03-20
EDITORS HOPEFUL
OF BUSINESS TURN
Recent Rise in Prices of Raw
Materials Inspires
Confidence.

OUIIIIucIlCcs
By the Associated Press.
NEW YORK. March 20.-A survey
OF opinion among score of editors of
business and trade publications indi-
Gates a widespread belief that the
recent rise in prices Of basic materials
reflects undoubted awakening Of busi-
ness confidence.
However, editors point out that a
temporary money shortage during the
banking holiday played a part in the
upward movement. Most thought the
upward trend would continue for a
number Of weeks. but hesitated to
forecast a long continuance Of the rise,
at least until the volume Of public
buying has had time to register.
Comment from number Of editors.
as reported to the Associated Business
Papers, Inc, follows:
Iron and Steel.
Earl L. Shaner, Steel-m general,
the prospect for recovery in the steel
industry is brighter than at any time
in several years.
John H. Van Deventer. The Iron
Age y While avoiding the definite
prediction Of general price rise at
this time, because Of insufficient evi-
dence, I do believe that we may at
least assume that with or without in
dation, We are on a price bottom from
which the one possible movement Is
upward
H. H Wanders. Engineering and
Mining Journal-With the resumption
Of business by sound banks and better
understanding Of the administration
program Of rehabilitation, there was
less talk about imitation by operators in
the non-ferrous metals; but this was
replaced by an unmistakable return ol
confidence in the general business out
look.
Nathan G. lockwood, Rock Prod
ucts-I am anticipating no sudden
changes in prices IN our industries ir-
respective Of imitation df indeed there
Is going to be infiation), because
the price level Is very largely estab-
lished by long time contracts, and 1t
requires time for readjustment.
Norman N. Stneman, Concrete
A moderate advance in prices Of ce-
ment in the next few weeks would
have a stimulating effect in two ways
First, 1t would encourage placing OF
orders for cement for future delivery
Second, 1t would stimulate the con-
struction Of some projects that have
been held back in the hope Of still
lower construction prices.
Chemicals.
H. M. Batters. Chemical and Metal
lurgican Engineering-Defiation OF
prices. wages. and salaries in the
chemical industry is practically COM
plete. Further bank liquidations will
not likely affect seriously the purchas-
ing power for producers goods, and In
any event would be largely overbal-
anced by the seasonal rise that is con-
fdently expected during the balance
Of March and April.
Machinery.
Kenneth Condit. American Machin-
its-How the improvement will extend
to machinery business is anybody's
guess, but there are many pending
orders, and the change in public psy-
chology seems sure to lead to the re-
distributors are more hopeful thar
they have been for some time.
Meat Products.
Paul I. Aldrich, National Provi-
sioner = Meat prices will probably
rise somewhat during coming weeks
along with prices in other commodity
markets, particularly as supplies OF
meat and livestock are not excessive.
Flour.
Kent Ferguson, National and Amer
lean Miller-The outlook Is encourag-
ing to millers Flour prices will follow
wheat and at least a moderate advance
is assured.
Textiles.
Douglas G.. Woolf, Textile World
The outlook, so far as can be judged
at present, Is for maintenance ano
strengthening Of existent levels. There
Is, of course, fear Of too great q
speculative influence which would bt
followed by sharp reaction. But. Il
sellers and buyers keep their feet or
the ground, there is logical basis fol
the expectation that the remarkable
renewal Of public confidence will re-
suit in greater buying activity ano
consequently flrmer price levels.
David Clark, Southern Textile Bull
letin-The cotton textile industry now
has the smallest stocks of cottor
goods in 10 years, and should buying
movement result from an improvement
in farming conditions, very active
period Of operations would exist.
Department Stores.
C.. X. Macdermut, jr., Dry Goods
Economist-First steps toward cor
rection Of fundamental evils have been
taken but they are C--v first steps
and are not quicAy u, 'latable into
terms Of business improvsIi Mt. Gains
will be made while enthusiG SIN lasts
and then there will be some recession
Julien Eenbein, Haire Business Pub
lications-Everybody in our field
thinks that 1t is too soon to notice
definite trend but raw material mar
kets seem to be fairly firm and the
prediction is that prices will rise
SLIGHTLY. Everybody Is certain that
they will not go any lower.
Shoes and Leather.
A. H. Lockwood, Shoe and Leather
Reporter-Higher commodity prices
are inevitable. Even moderate inf1a-
ton of the currency forces price
changes The labor situation
has an important bearing upon the sit
uation. In many instances reductions
were too drastic to be permanent. Any
changes from the existing average Will
be up, and not down.
Automobiles.
Julian Chase Chiffon Co.-There
seems to be no disposition among
passenger car manufacturers to change
prices that were fixed, as usual, IN
January. The desire Of the industry
is to maintain the price structure ap-
uroximately as it is. with the hope OF
lifting nricea eventually to more prOnt-