Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-07-28
Forward Trade Movement Shown In June
Described In Business Experts Review

usual recession was SHOWN
in the business returns for June,
says Frank Greene in his monthly
review of general business condi-
tions in Nations Business published
by the Chamber of Commerce OF
the United States.
June business" he writes, 'rath-
er disappointed the pessimists. For
one thing real summer weather
came nearly a month earlier than
a year ago, this aiding the distri-
button of large quantities Of manu-
featured goods, especially summer
apparel, vacation goods, imple-
ments, automobiles and numerous
other lines in which immense spring
production had given rise to some
miSgivings.
Second only to the surge for
ward in final distribution was the
sharp, and up to the present, we'll
sustained rally in grain prices led
by wheat. AS to this, it may be sug-
gested that lot, dry weather with
small Subsoil moisture in our own
spring wheat area was a powerful
aid to prices, but the same forces
worked to modify estimates of
wheat yield in Canada and in Ar
gentina, with the result that the
worlds supply outlook for the pre-
mier cereal underwent a marked
change.
There were, naturally enough,
some lines where searching of
hearts occurred, notably in the great
series of industries catering to the
building business which Sagged with
more or less effect on subsidiary
lines. Cotton goods authorities
talked Of, or actually in late June
and early July, put into effect some
measures of curtailment and the
furniture-manufacturing trade sent
reports of quiet in house furnish
ings, radio attachments excepted.
All in all, however, factory indus
try set up new records of production
for the half year, the metal lines
lEading, while distribution was at
an apparently corresponding pace.
Iron and Steel Lead
"On the side of things accom-
plished in industry in June prece-
dence seems to go easily to iron
and steel and its derivatives. That
the country's use of steel was enor-
nous Is indicated by the fact that
the half-year'S total, 28,967,174 tons,
"a 4,169,000 tons or 1868 per cent
larger than that of the first half
of 1923, and $4,000 900 tons or 15.5
per cent above the peak total dur
ing the last half of 1923. This took
place despite 392, 900 tons smaller
production in June than in May
which had two days more working
time than had June.
Car loadingS for tie half year
established a new high record, also,
with a gain of As per cent over
those of a year ago and of two
tenths Of one per cent over the 1927
half-year total, which was a hign
mark. Untitled locomotive orders,
on June 80, were the largest snce
July 1926.
In automobile production, esti-
mates were for a record for the
month of June. The interesting fea-
ture here is that the gain is due to
enlarged production by n leading
manufacturer offsetting a 12.5 per
cent decrease from June a year ago
in the rest Of teh industry. For the
half year a As per cent gain over
the first half of 1928 is figured and
it should be recalled that the latter
in turn saw a gain of six per cent
over the first half Of 1927.
Just how widespread the activity
in factory industry has been may
be better appreciated when 1t Is
said that pig iron, steel, automobiles
and trucks, machine tools. agricul-
tural implements, electrical appara-
tus, copper, plate glass, heavy chem
icals, silk, rayon, cotton goods, tires.
crude petroleum and its now chief
product gasoline, newspaper, cigar
cites, motor boats and air planes,
all made record outputs either for
the half year or for smaller elapsed
periods.
Building Less Favorable
among less favorably situated
industries, building holds chief
prominence. Following decreases
from a year ago in four Of the past
six months, the half-year total Of
permit values in 215 cities was ST.
1880 86, which is is per cent off
from a year ago. This small decrease
is accounted for by a gain Of 24.4
per cent IN New York City,
being balanced by a decline in PA
cities outside New York of 1873
per cent. The gain in New York was
caused by a big permit filing there
in March and April to anticipate a
new law regulating multi-famlly
buildings.
The decline this year from last
in building follows successive de-
clines in each year since 1925. the
peak veal in this industry. Find
ings by the Bureau Of Labor Sta
tistics show that the cost of build
ing has risen in the past eight years
one-family dwellings by 24.3 per
cent, two-family structures by
eight per cent, while cost per fam
iiy in multi-family dwellings has in
creased only OF per cent. During
the same year costs Of materials
fell 3.8 per cent, whereas the union
rate of wages rose % per cent.
Mail Order Trade
In distributive trade the gain in
mail order trade for June led that
produced among the ordinary chain
stores, viz. 28.7 per cent against 23.6
per cent. The two combined gained
IS per cent against a gain OF IA
per cent at ordinary department
stores. In the latter line. 244 stores
reported decreases while 204 report
ed gains over sales in June a year