The Indianapolis times., 1928-07-06


Hokum, reply the Democratic
leaders. Present Republican pros
perity is a snare and delusion, with
the farmers hard hit and almost
100000 industrial workers out Of
jobs, they say
But the fact that the Democratic
platform was unusually easy on the
protective tariff is interpreted by
observers as indicating the minority
party strategists are sensitive to the
Republican prosperity claims -
whether such claims are based on
fact or merely propaganda of old
superstitions."
GETTING away from the poli-
VI ticians with their partisan
claims on this delicate subject Of
present business conditions, one
finds the banks, the economists and
the Government experts also some
what at odds. But perhaps the
opinion of the more objective group
of experts is pretty we'll repre-
sented by a statement of the Ma
tional City Bank of New York. That
bank says:
'The half-year which has closed
neither has justified the apprehen-
sion of those who feared that it was
leading the country into a serious
depression nor realized the expec-
tations of the sanguine ones who
thought it likely to make a new
prosperity record.
IF assurance could have been
given that the production Of steel
would surpass that of 1927 or 1926,
that building operations would OUT
strip those of the corresponding PEE
riod of last year and that the au-
tomobile industry would stage
come back, the general opinion
would have been that a good year
was in prospect. These are the out
standing features Of the period, and
they imply general industrial ac-
tivity."
Bradstreet shows a gain in ma
tional building permits of 6.8 per
cent in May, compared with a year
ago.
The National Association of Real
Estate Boards reports greater ac-
tivity in that business in more than
one-third of the cities of the coun-
try than a year ago, a third in
which business is about the same
as last year, and less than third
with decreased market.
The National Lumber Manufac-
turers' Association reports that in
dustry has rarely been in more
favorable position.
II
a CCORDING to the Federal
IA Reserve Board:
Industrial production continued
during May in about the same
volume as in the three preceding
months. Wholesale and retail trade
increased in May and the general
level of commodity prices showed
a further advance.
Security loans Of member banks,
which we're in record volume in
May, declined during the first three
weeks in June. Conditions in the
money market remained firm"
The general level of wholesale
commodity prices, as indicated by
the bureau of labor statistics index,
increased in May by more than one
per cent to 98,6 per cent of the 1925
average, the highest figure recorded
for any month since October 1926.
The largest advance in May, as in
April, occurred In farm productSG
and foods. -
a T las the general Z
L n farm prices on JufNf1
fifteen points above June NJ
ago, but declined three points IS y
May Is this year." according to tN81
Department of Agriculture. ThsS
1909-1914 average is used as a basek
of 100. -
Prices of practically all comm
tiles included in the index declines
from the middle of May to th@N
middle of June, grains going down
eight points, fruits and vegetables
thirteen points, meat animals one
point, dairy products two points,
and cotton and cotton seed four
points.
Reasons why the United States
Chamber of Commerce can not share
the current pessimism of those who
predict peasantry for our farmers,
as given by President Butterwort
of the chamber to the annIl me1
ing OF the American Society of A;
cultural Engineers, follows: &re
THE explanation is that Wa(4
had a reduction dn eight yea -
more than 100000 acres in
cultures production plant; of
cent in its population, yet its kH
gate crop production has b
creased nearly 5 per cent, til S
ductlon of our animal units No.
creased is per cent and the pl ~ eS
tlvlty OF each farm worker h
creased about Is per cent"
Industrial unemployment(
union workers in twenty-fol
sentative cities fell frorI
cent in April to 13 per cel
the American Federationi
announces. s,t
Did You K
Chicken or Egg; Will
All life of7 the olotoo a., t%t