Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-09-29

TeNeIue lIei8ilt ON the IdlkOduo.
August business failures were the
smallest for that month since 1928.
as were the attendant liabilities.
With industry. trade and finance
all reaching new peaks Of activity
It might appear that August brought
nothing but good news, but this was
not the case
Crops suffered badly from lack
OF rain In nearly every area except
the Southeast. Dry, baked soil
hampered farmers IN blowing for
wintre seeding. hydroelectric plants
reduced their output-this, incident
ally, benefiting the coal trade TO
some extent-and many cities, e5-
recially In the East. complained Of
actual or impending shortages Of
drinking water.
Corn and other coarse grains
suffered severely from drough dur
ing August and indications were
that yields Of those cereals would BE-
much smaller than q year ago or
than estimates in the earlier sum-
mer months seemed to show.
texas OOttUu LOSo
'The cotton crop deteriorated
heavily in the western half Of the
belt particularly in Texas. but III
the eastern section, conditions ere
much better than a year ago. or two
years ago. when excessive rains and
storm5 damaged Gotten. tobacco and
other cash crops. The price of cot
ton showed improvement during
August and rose at times above the
level Of q year ago. The indicated
decline in the size of the crops. the
generally good outlook for fall trade
IN this country and the settlement
or the British cottOn-mill strike
materially aided this improvement.
"One effect Of the reduction n
crop yields may be a decline in rail-
read tonnage. both as regards the
hauling Of crops and the transport
alton OF goods bought with the pro-
ceeds OF agricultural commodities.
Freight ton-miles for the first
half Of the year showed a gain OF
65 per cent over the like period Of
1923, while gross and net railway
earnings for the seven months end \
Cd with July showed increases OF
five per cent and Is per cent, repect-
lively. These percentages OF gain
may be shaded somewhat when
figures for the full year are avail
able.
The textile and other light in
dustrieS appeared TO be stepping up
operations as the country entered
the fall season, but it must be said
that in nearly every line, activities
in August, and in other summer
months, were much ahead Of q year
ago.
silk Mills Busy
1.-THE silk mills ran at a high pace.
deliveries Of raw silk for Angus.
being TIA per cent above q year ago
and the largest for any month in the
history Of the industry. Raw-silk
imports showed q gain Of Al per
cent over last August and set a new
high record. For the eight months
ended with August gains OF 9-5 per
cent and $50 per cent were shown,
respectively. In silk imports and
mill takings.
"Cotton-nill operations were cur
tailed somewhat during August and
this was reflected in firmer prices
for certain constructions. Trade In
cotton goods was brisker after Labor
Day holiday and the mills were SAID
to be generally active.
"Woolens and worsteds have sold
fairly well throughout the year with
perhaps more emphasis on the lat
ter textile. and woolen-mill opera
ions and consumption Of raw WOO
have run consistently above the le-
vels Of recent years.
Consumption Of raw wool for the
first seven months of the year
showed an increase OF 12.2 per cent
over the like period OF 1928 but
despite this increase. prices have not
shown much improvement. owing r.
the heavy United States clip and
large supplies elsewhere.
Shoe Business Gains
"Shoe production In July showed
a gain Of GA per cent over the like
month a year ago, while. for the
seven months ended with July
| there was en- increase of three per
cent. With this activity in the ma
nufacturing plants. sole leather and
some types Of upper feathers were
in good demand with prices firm
and trading active.
Building permit values in August
showed q decline Of 23.4 per cent
from the same month a year ago,
with New York displaying a drop
Of As per cent. while the cities out
side New York fell off 1876 per cent
For the eight months ended with
August there was q decrease Of 81
per cent from the corresponding
period OF last year. Brick production
and consumption reflected the de-
cliee
~AutomohIle production for Aug