T01921 BUSINESS
Optimism Prevails With Re
gard To Maintenance Of
High Consumption Rate
NEW YORK, Dec. 16.— (By Asso
ciated Press.)—With the holidays ap
proaching, interest in financial and
business quarters is turning; increas
ingly toward the prospects for busi
ness in the New Year.
A seasonal slackening of produc
tion, which will be accentuated as
the month closes, by shutdowns for
inventories and repairs is noticeable,
but optimism prevails with regard to
the maintenance of a high rate of
consumption and to an early increase
in buying. The holiday trade Is re
ported satisfactory.
O O O
Steel shipment* nenty.
Buying of steel products for first,
quarter delivery has come largely
from automobile manufacturers.
Shipments, however, are still running
ahead of orders. Building activities
holding up remarkably well and the
trades entertained hopes of a re
newed buying movement in railroad
equipment.
The unexpected reduction of the
Chicago and Northwestern dividend
brought a more sober view of the
outlook for the carriers. ThH was
accentuated by the difficulty expe
rienced in selecting a chairman for
the Senate committee on interstate
commerce.
Car loadings for the week ended
December 1 showed a sharp falling
off, due to the thanksgiving holi
Great confusion prevailed in the
cotton market.
The ginning report of the previous
Saturday demonstrated that earlier
private crop estimates has been much
too low; the magnitude of the mis
calculation was revealed Wednesday
when the final government crop re
port placed the yield at 10.018,000
bales. On .Friday the census bureau's
consumption report showed that
American mills used 532,000 bales
during November, which represented
a higher daily rate than that for
Ocfljober. i
* o O O
Price Cover* Wide Itnnge.
