The Birmingham age-herald., 1924-11-10
|BANKBOARD SEES BOOM HIN BUSINESS September And October Increases Held Sig
 nificant REPORT STRESSES
 IMMEDIATE RISE Definite Improvement In Agricultural Situation
 Cited
 MERCHANTS STOCKS FAIRLY DEPLETED Factory Employment Reported On Increase-Christmas
 Trade Helps
MERCHANTS STOCKS
 FAIRLY DEPLETED

WASHINGTON, NOV. >: Definite revival of business of a volume to partially overcome the recession of midsummer has been noted by the federal reserve board in the last six weeks.
 Although current production still is considerably below the same period last year, the board called attention to im- portant increases in Septem- Der and October over the vol tune of factory output in June, July. and August. It ex- pressed satisfaction that the recession which dropped pro duction in midsummer to J levels lower than at any time since 1922 had not brought about a further decline in the late summer months.
 s The board'sy views are markedly .s,tins;Sfie and lay stress on p0ssi. 5.
 Sisssies If tlso isusssefzlate future for
 : general prosperous period.
 .sReeent increases in industrial. ac- fiyifv. from the low level prevailing during the summer months, the board said. mark the first substantial im- movement in industry since early ln the wear. The recession during the flrst half of 1924 which followed the rapid huf unsustained recovery in January, brought the volume of production Tn hasic industry by midsummer to the lowest level since the 1922. There was no further decline in July and August and the increase in September regalned about one-quarter of the preceding de- cline
 4In agriculture. there has been a definite improvement in conditions as the result of good harvests and a level of prices at crop marketing time above that of last year. The increased buy ing power of the farmers and the faek that distribution of goods to the con sumer was well maintained throughout the period of industrial recession in larger volume than current output have heen factors in bringing about the re cent advance in industry and trade.
 Tho principal industries show
 ing increase in production in the
 neriod covered by the boards sur
 vev were iron, steel, textiles, coal,
 Automobiles, rubber tires and leath-
 or. Other lines accomplished less
 in their adyanC. but nearly all
 showed characteristics of healthy
 expansion. ,.
 Stocks stored last spring were great ly depleted in summer months when nroduction was low, the analysis showed but it is disclosed, on the other hand that there was steady buying by the consumer. As result, the retailer now is in the market and is compelled 10 make substantial purchases in order to meet the calls of his trade. With the Christmas buying season ot the con. sumer well underway, the demands or the retailers are expected to De more pressing in the next month after wnlch, obviously will come the post-nohday seasonal drop.
 hoard to back I'D it's assertion of in creased production is the increase in Factory employment. This barometric reading disclosed that not only that there has Lcen an increase in the actual number of workers but with the increased activity has come an import ant reduction in the number of part time workers. ,...
 As for the farmer whose condition has generally been recognized as inn proving steadily, the board called at tention to the greater income he has received both from the better prices and greater yield than last year or Tor several years. Evidence of the i'm. provement in the leash position" or the farmer is given, the board found' in the continued and rapid liquidation of accumulated indebtedness at banks in the apriculturaI districts.