Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-24
STEADY INCREASE
IN BUSINESS SEEN
Commerce Dept. Says u. S.
Production and Consumption
Show Unparalleled Stability.

The United States Is ENJOYING
period OF almost unoroken increase III
production and consumption without
exhibiting any OF the characteristics Of
business boom" the Department OF
Commerce declared yesterday, follow
ing an exhaustive survey of business
conditions throughout the country,
Business conditions during the past
six months and the few years lust pre-
ceding were said by the department TO
have exhibited "a general stability un-
osralleled in the history Of the United
States or any other important mduS-
trial country.
The departments report was based
upon the showings Of all the statistical
harometers which have neen set up by
the Government, with the cooperation
Of variety of economi@ agencies, to de-
rcct the ebb and flow of the currents OF
trade. traffic. production and consump-
ton. II shows that. with only occa-
SIGNAL minor recessions, such As ap-
reared. for example, during few
months Of 1927. business and industry
es whole remained al high level for
a long period Of time.
Savings and Investments Cited.
There have been unprecedented
amounts of savings and investments OF
new capital in recent years. dt was
stated. This investment. together WIN
| improvements In methods, have greatly
! increased the efficiency OF industry anu
! the output of work.
The general cumulative moeX OIL
manufacturing production, the most
| comprehensive of all measures OF IN
! dustrial activity. in the first hall OF
| 1928 exceeded the previous high record
! If The first half of 1927 the depart
ment declared.
THE building industry which has
been during all recent years very
important factor in creating demand
for manufactured products and lot
labor, showed greater activity IMAM LII
any other six months period III Amerl-
can history The automooiie inoust,s'
which so conspicuously renecS une
h,,vi,,r mower of the people. had a
larger output than at any time except
the first half of 1926.
Mail Orders Largest on Record.
1.-THE sales of mail-order houses were
the largest on record, fact partly due
10 the establishment of retail store out
lets by the leading houses. the gen
nrsl volume of industrial and CONNER
cial transactions, as refiected oy tne
value of the checks passing through the
hanks for payment mot counting Ne"
Work CITY, where speculative stoch
transaction greatly affect the totais>'
showed a gain of per cent over tne
frst half of 1927. which itself had mace
! the highest record up to that time,
Electric power production, when
has been increasing very steaohy q.
a rate usually exceeding III per cent
annually. continued Its expansion oul
ing the first half OF 1928. Inc con-
stsrtiv wider use of electricity for
domestic purposes reflects increasing
comfort of the masses of the popuia-
tion. while Its great expansion IN lnous-
trial use means a gain in productive
efTiciencv of factories and mines.
THE statement said business taliures
during the first half of 1928 showed
smaller liabilities. despite larger num-
her nf failures. than during the CORE
spending period OF 1927.
Business Declines Explained.
"The declines in few businesses Tor
the first half of 1928 as compared Win
the corresponding period OF lsZ' az
due TO exceptional conditions. ne
cotton and wool manufacturing NOUS
tries. which had been unusually ac.lV.
during the first half OF 1927. showed
some decline in 1928. The decrease IN
conner and petroleum output repre-
Sents a conscious effort of producers 10
bring about a closer balance between
SUNNY and demand and TO secure
healthier condition than could exist
With a continuance of the previous
excessively rapid increase IN prooucuon.
'eThe movement of freight on the
railroads uas somewhat smaller than
In the first six months OF 1927, but Inc
decline was chiefly in coal and coke
Car loadings of agricultural products
we're larger than in 1927. but there was
some decline in those Of miscellaneous
merchandise and less than carload
shipments. probably In part due tn In
cressinv use of motor trucks for short
haul shipments.
Factory Employment Figures.
THE index OF factory employment
which. however. does not include some
of the newer industries. was slightly
smaller during the first half Of 1929
! than during the corresponding pefloo
of 1927, thus continuing the movement
shown in almost every year since 1913
There was however. unusual STABILITY
/ from month 10 month. For the hrst
time since 1923 employment in June
was higher than in Nav.
THE general downward tendency IN
/ factory employment IL mt an indica-
| tion of Lack OF demand for factory
products. but reflects the increasing
! efficiency Of industry, BY which larger
quantities Of goods can be produced
/ per worker
One ri the most noteworthy tenden-
cies during the first half Of 1928 was
| the relative advance in prices OF farm
products as connared With other classes
Of products The cost Of living index
and the retail cost Of food we're lower
in the first six months Of 1928 thus
leaving 10 consumers a larger margin