The Birmingham age-herald., 1924-12-09

| TOSpcCLS III lulS
 puntry have further improved. That 1 ldustry and business have not ex-
 erfenced a boom matching that in ISe stock market is not matter for Sgret but for satisfaction. In short, 1 1atchers of the crows nest surveying ae progress of the national business
 hip, are justified in announcing "Alps 1ell!" ~ q
 This does not mean that there is not ruffle in sight on any waves. It does lot mean that ideal conditions exist Yer every square mile of the conti- Jent.
 But it does mean that the United Rates is moving along very satlsfa C. l@rily and nothing is within sight to bake confidence in the outlook.
 1Some timid souls point in alarm to fe shipment of SIP, 2,OOO,O ,OO0 of gold to
 lurope the end of the week. This move
 .ent is altogether healthy. We can ell afford to sell quite. part of our
 old to other countries that need it and l an pay for it. We have more than
 ie can use advantageously. Other buntries have not. Therefore, do not How gold exports to disturb your call
 plations. IT.
 Nor should you become pesimistic
 ,erely because the first month follow
 tg the presidential election has not
 roughtt a rip roaring business boom. | he progress made has been substan-
 lal.
 | What do the always conservative lercantile agencies report:
 l Here are facts reported at the week | hd by Duns:
 Textale production is at the top point
 the year. Building construction is Unusually active. Railroad traffic is Unprecedented for this time of the year.
 lore profitable prices now rule for lhany commodities. Increased dividend Payments are enormous. Mercantile col Ections are up. Commercial failures are
 Iown at the season when an increase Ihstomarily occure. Retailers are en- Iburaged by Christmas trade prospects. If 70 prices changes last week 45 were ! IFere upwards:
 Bradstreets records:
 Reports of improvements In nnm- ! Ter of lines of distributive trade and in- lIustry found confirmation-in a notable \ Expansion in most measures of move hent in November over the longer honth of October"
 Here are other significant items ulled from the latest news:
 | "Pig iron and steel production con- inues' to increase with prices on the Upgrade. Copper has crossed IA cents a
 ound for the first time this year and iroducers are holding out for stiffer IIrices for future deliveries. The gen. IIral level of commodity pries again hoved up during November. Railroad Traffic and earnings are most encourag- Ihg. The oil industry reports occasional marking up of prices. Our foreign trade Relations are very satisfactory.
 The automobile industry is taking on Ihore men whereas reduction of forces IS not unusual toward the year-end
 The lumber industry is more active Bank clearings are very heavy. Some Iilk mills are running night and day Railroads are ordering equipment on a Fiery large scale. The electrical indus Try is expanding. Chain store sales Ihow considerable gains. Our farmers Ire not spending recklessly but buying Ibf implements and machinery has Ibroadened. now that the agricultural Iiollar and the industrial dollar have re- sained a healthy relationship. Hard iware Is more active.
 | Monetary developments have been tsatisfactory. Rates in Wall street have become only mildly firmer. The treas Ilry's per cent bonds were enormously Other security offer
 ngs have been readily taken notwlth- standing that the years output has broken all records.
 | Sterling has touched new high point For the year and France has at least begun to talk over repayment of her war debts to us
 | What does Secretary Mellon, an eX- eellent judge, see ahead?
 "If we approach them with intelli- yence, years of prospects and healthy Conditions such as succeeded the elec-
 ion of 1896." - @;.
 What of tax reduction? Notwith- standing President Coolidge's unwill-
 ngness to call a special session there
 a strong probability that public opin- .on will become sufficiently strong and
 nsstent to bring thoroughgoing action