Evening star., 1924-06-22
BUSINESS TURNING
u. S. REPORTS SHOW
Farmers Are Beginning to Smile
for First Time in Four
Long Years.
LABOR DEMAND VERY HEAVY
Better Outlook Laid Largely to
Congress Adjournment.
BY HARDEN COLFAX.

business is better. Five months
of unbroken price declines ended
within the past fortnight. TaInRa
are creeping upward again. Four
months of continuous reduction in
employment have ended with d stiff
fening of the labor market, d stop
to the talk about further wage de-
creases and the first STRINGS of
what may develop by fall into a gem
eral revival of Industrial activity.
SO are interpreted the advices re-
ceived in Washington by government
and private agencies which measure
from month to month the ebb and
flow of American enterprise. Re-
ports, however. have not been uni
form. Some industries report gem
eral picking up of business within
their lines. Others see but little
change. Still others are on the down
ward trend, but even here, in the
majority Of cases, the rate Of de-
cline has appeared to lessen.
Agriculture is more hopeful this
year than il has been at any time
since 1920, according 10 advices re-
c"iycd from many sources by the De-
partment of Commerce and the FED
eral employment service. The big
rise in wheat prices has stimulated
western farmers almost electrically.
a bushel of wheat now is selling for
around $120. a full % per cent more
than il fetched last winter. Farmers
are talking Of S1.35 wheat by Christ
mas. Some hope that it will go even
higher.
The bull market on corn has car
ried IL into new high price levels for
the year. Cotton, still fiuctuating
violently, awaits the governments
report July 1 with feyerish anticipa-
tion.
Farmers Again Smiling.
For the first time in four years
the farmer is smiling and beginning
to sing. His state of mind has found
the end of the long lane that seemed
10 have no turning. The change or
heart has wrought a profound effect
reports Indicate. upon business gen
orally. The. farm anticipating
profits, is beginning to tap his credit
more extensively and trade in the
rural sections is looking up.
Employment service officials state
that the demand for farm labor, just
now swelling to its highest point
for the year. is greater at the present
time than for years past. Through
out the middle west and the north
central states the demand cannot be
met and a shortage prevails now
which is expected 10 become acute
in spots as harvesting proceeds. NJ
merous new temporary offlces have
eral government.
The railroads are hauling more
freieht-not the record volume they
pulled in 1929, but more than they
have hauled in any other June, with
that solitary exception.
Upturn in Other Lines.
Coal is being sold in increasing
quantity as the nations mills and
factories work off their huge sur
plus and there is no longer talk Of
Automobile manufacturers general
" feel that they have reached the
low point Of production for the year
"a feeling that has been expressed
in recent price advances on some
models. business in that line is
reCkored a. about 20 per cent below
the level OF June, 1923, but unex-
pected increases OF sales in some dis
tricts, notably in the farming sec
tions. have recently put fresh heart
into manufao turers generally.
The United States Steel Corpora
tion is reported TO be booking orders
in June a I a rate Of about 1000 tons
day higher than May.
To measure the new sentiment
one must turn. however, TO the stock
exchange. There the bull movement
Of 1924 is still swinging values up-
ward. 1t is the. first bull movement
true to Wall Street form it Pre-
sages a revival generally by some
five or six months.
Closing Changes Chief Fanctor.
Retail trade in the cities. the gov
ernment is advised. continues 10 de-
cline slowly in almost all sections
of the country. Part of this move
ment is attributed TO generally late
spring; part TO Curtailed employment;
| and part to the uncertainty which
has prevailed for the past five
months The value of advertising
has been strikingIy shown. however,
! by off-Season sales in great quaint
ties of silks and other goods. The
public has come promptly into the
market to buy real values.
The chief stimulant however. has
| been none of these things, according
! to private adviceS received here.
! Business is picking up primarily be-
cause Congress has adjourned, lead
| ing trade associations are informed.
| With Congress in session. the bust
ness world remained in state of
doubt and uncertainty. 1t continual
| " feared new impediments and
! handicaps to industry. Now that
Congress has gone home, the bust
ness world apparently feels that
Congress cant harm it for five
months more. anyhow. and is going
ahead with its revival.