The index numbers of wholesale prices which are published this week by the Treasury Department's Bureau of Markets. should be of particular interest to business men. In two of the principal groups, textiles and metals, advance is shown, and so greatly interested are foreign merchants in these commodities that the course of prices is worth studying. In the case of textiles the figure stood at 103.5 in April, 1920, and from that month onwards there was a steady drop until December last, by which time it had fallen to 91.8. In the four months since the tendency has been all the other way, and we have now reached 97.2, roughly six points behind the level of a year ago. The Bureau does not commit itself to prophecy as to the future of textiles, but it may be pointed out that the position to-day is vastly different from a year ago. At that time high priced cargo was coming forward in large bulk and demand was falling: to-day little cargo is being received and stocks are in process of depletion.
are by no means in a liar position to textiles, for continuous fluctuations are seen in the index figures. Until last month the highest number seen was in August. but to-day that. is slightly! exceeded. Large stocks of metal there are in port, but in certain lines steps have been taken to prevent cargo being released at: sacrifice prices, and this has pro-bahly had a beneficial effect on the
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