The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-08-29
REPOE s SHOW
BUSINESS IS
GAINING
Production Is Increasing and
More Men Are Being
Put to Work
By RICHARD HATTON

By RICHARD HATTON
Increased business activity every
where during the fall and winter is
the conclusion to be drawn from
data collected in Washington by the
several Government departments
whose business 1t is to gather
information upon the economic con-
dition and outlook. That there is
no question regarding the probable
business trend is shown by the fact
that reports collected by the Fed
eral Reserve Board. the Department
of Commerce and the Department
of Labor are in agreement upon the
essential facts regarding American
business.
There are several outstanding
facts in connection with the Gov
erament's official survey. The
summer slump, for example, is
shown to have been less pronounced
than usual, while the Federal Re.
serve Board finds that production
in basic industries turned upward
in July, after a continuous decline
since January" This statement
bears out the generally accepted
belief that the upward movement
in business, which began in July,
is continuing with no immediate
prospect of slowing down. This be.
lief is strengthened by the latest
report of the car service DIVISION
of the American Railway. Associa-
ton, which reports the increase IN
the movement Of revenue freight
beginning in July and still con-
tinuing at an exceptional and en-
couraging rate.
More Men at Work
The Department of Labor adds its
weight to the general optimism by
reporting that employment inJuly
increased IA per cent as compared
with July. 1924. with an increase
I'm payroll totals Of 14.5 and an in
crease in per capita earnings OF 90
per cent Gains in payroll totals
OF considerable size are recorded in
each of the nine geographical d.
visions. Gains in employment are
indicated in seven of the nine dl-
visions. The East North Central
States, according to the statistics
OF the Labor Department, show
gains OF nearly Is per cent in en-
ployment and of over - FER cent
in payroll totals. The rest Of the
Atlantic Seaboard States and the
Eastern States in general all show
notable Improvement in the volume
of employment, says the Depart
ment, as well as In the earnings OF
employees In the twelve-month period.
From the Federal Reserve Board
comes the information that during
T..1 Ia FArfHAm advanced
farther and the distribution of COM
Tnodities continued in large volume.
Wholesale prices. according to the
statistics presented, advanced 2 per
cent, while prices of farm products
and of miscellaneous commodities
advanced over per cent. 'sThe
general level of prices in July" ac-
cording to the Department of Labor,
was per cent higher than a year
ago" 1t adds, THE rise being
chiefly in agricultural products"
According to the Federal Reserve
Board demand for commercial
cities increased in August and the
volume Of commercial loans on
August u was larger than at any
time since the middle of May.
Loans on securities increased be.
tween the middle of July and the
middle of August. Discounts for
member banks increased at all the
reserve banks in recent weeks and
the total on August 10 was the
largest in more than a year and a
half"
Increased Output
Added evidence of the increased
production which has kept pace
with increasing demand is found
in the following: Increased output
was shown for lumber. coal and
cement: cotton consumption de-
clined less than usual at this sea-
son. In nearly all industries
says the DEPARTMENT. summary.
activity was greater than in July
last year" According to the sum.
mary, building contracts awarded
for the first seven months of this
year have exceeded in Val;Ie those
for any previous corresponding
period.
In the face of these Official
statements and statistics il is not
hard to find the basis for The very
general local belief. as expressed by
Washington bankers and business
men, that there are months of ex,
ceptionally active business end
profitable investment ahead off
Washington and that there never
was a time when this city was in
a better economic position than at
present. Together with the rest of
the country. Washington is meeting
the upward trend in business half
way and is preparing TO take full
advantage Of the present general
commercial stimulation.