Evening star., 1934-06-24
Exit of Congress Also Cited
With Rains and Delay of
Labor Strife.
LIVING COSTS STILL RISE,
BUT AT SLOWER PACE
Grave Effect of Reich Moratorium
on Trade With This and
Other Nations Stressed.
BY JOHN A. CRONE.
Special Dispatch to The Star,

Special Dispatch to The Star.
NEW YORK, June 23.-The ma
tional business picture took on bright
er hues this week as retail trade con-
tinued upward, Congress adjourned,
rains in the drought region brought
encouragement, and the many menac-
ing labor situations remained only
threats.
The rise in living costs continued.
though at slower pace, as did fall
ures, retail and commercial, and bank
clearings. Foodstuffs, when compared
with March, 1888. are in many in
stances up so per cent. Contrasted
with this same week year ago, how
ever, they are up only 15.9 per cent.
Grave effect of the German mora
torium on trade with this and other
countries was emphasized during the
week. Manufacturers were hopeful
that our Government would hurry
foreign trade treaties and thus Offset
the fresh world trade barrier set up
by the Reich debt holiday.
More Buyers Arrive.
With showings of Fall merchandise
scheduled to start next Monday.
wholesalers and jobbers were pleased
by the greater number of buyers ar
irving in the various primary markets
of the country. And the sudden halt
in cancellation of orders for Autumn
goods in drought-stricken States,
which followed the rains there, proved
no less gratifying.
Wholesale food price indexes regis
tered their highest levels Of the year
during the week, a movement that is
bound to bring renewed wage increase
demands. The general price level,
however, points higher, for labor as
well as commodities. Perhaps it is
this more or less general agreement
about price trends, despite certain i'm
portant exceptions, that has toned
down imitation talk.
Cumulative effects of the drought
have resulted in sharp advance in
livestock prices, especially hogs, grains,
milk. butter and lard. Sugar is up on
the restriction plan. Coffee, however,
is lower and eggs not much changed
despite their wide swings.
Cotton goods hrmed, with some
print cloths up Is cent yard. Silk
receded. Wool is without change.
Steel scrap, after eight successive cuts,
turned upward. Cast iron pipe prices
advanced. Copper rose, though lead
was steady. and zinc registered a
weak undertene.
Fall Prospects Cheerful.
Early estimates on Fall distribu-
tion," according to the national weekly
survey of business by Dun g. Brad
street, Inc, ARE running from IS to
25 per cent above the 1888 figures, as
the Government seems determined to
permit no relapse in trade movements,
and the plans which are to be dis
closed shortly may result in a more
liberal upward revision of this per-
centage.
Retailers now are reporting a
growing difficulty in planning their
Fall buying programs, because of the
abrupt rise in the prices of foodStuffs
during June. Thus far this year, the
greater proportion of the wage-earn-
er's dollar has been going into textiles,
clothing. shoes, furniture and house
wares, but, as the effects of the
drought will become more strongly
noticeable in advanced food quotations
during the Fall and Winter months.
the amount of money available for
investment in consumption goods will
be reduced progressively"
The average of industrial operations
is finishing the second quarter around
the level at which that period opened.
This record is made possible by the
sustained schedules of makers of mo-
tors, steel. refrigerators. electrical sup
plies, metal goods, rubber products
and foodstuffs
Electric output, though its gain was
smaller than in the preceding week,
was at its highest point since April
Car loadings are at the years peak.
Recent price reductions in motor cars
promise to keep the factories running
at a er-than-seasonal rate.
Bought in Volume.
Fall accessories are being bought in
volume in wholesale markets these
days, especially such items as hand
kerchiefs, gloves and neckwear. Lead
ing converters will have their Fall
lines of cotton and rayon wash goods
ready late next week. Linen piece
goods handlers are doubling the size
of orders cabled this time a year ago.
Rayon demand has improved in the
last few days.
Advance purchases of lamps for
promotions in Autumn have been
above expectations. Orders for wool
hose. however, have been delayed, the
result of lower prices quoted by lead
ing manufacturers. Mems glove
makers are worried about the rising
quotations for pigskins.
The arrival of number of British
buyers in this market, from Canada,
Australia and South Africa, was one
Of the interesting developments of
the week. Automobiles and general
merchandise have attracted these
buyers-aided of course. by that mag
net, the 6evalued American dollar.