Evening star., 1929-06-30
REVENUES OF j. S.
SHOW BROAD GAIN
Evidence of National Pros
perity Seen in Advanc-
ing Totals.
BY the Associated Press.


All branches of Government revenue,
as figures were shaped up this week
in preparation for the termination on
June 80 of the official fiscal year, dis
closed advancing totals. and gave fairly
representative evidence of active
national business conditions. Partic-
ularly. the June collections of miscel-
laneous internal revenue, which
registers the imposts upon tobacco sales,
playing cards, amusement admissions,
and the like, all items of general dis
tribution, ran up nearly to $4,000, 900,
against about S40,00o,000 for the same
month last year.
Railroad traffic volume, reported out
Of Washington for the week, was still
engaged in setting new high records.
Congressional action, by reason of an
adjournment of that body, was not
factor in affairs, and the Federal Re-
serve Board maintained its recent
status of Withholding action as to bank
rates and credit matters.
Commercial Transactions.
Commercial transactions during the
period ended June 90, as reflected by
check payments, were larger than in
either the preceding week or the cor.
responding week of 1925" said the
Commerce Department weekly review
of the business situation at home and
abroad.
Activity in steel plants, while un-
changed from the previous week,
showed a considerably higher rate of
operation than for the same week of
last year. The production of crude
petroleum and bituminous coal for the
latest reported week showed gains over
both prior periods. The distribution of
commodities, as indicated by the load
ings of freight cars covering the latest
reported week, was substantially
greater than at this time last. year.
THE general level of wholesale prices
showed a further gain over the pre- ced-
ing week and was only slightly lower
than year ago. Iron and steel prices
advanced over both prior periods, while
cotton prices were lower than for either
the previous week or the corresponding
week of 1928. Loans and discounts of
the Federal Reserve Banks were larger
than during either the previous week
or this time last year. Interest rates
on both call End time loans were easier
than during the preceding week, but
substantially greater than a year ago.
Bond prices showed no change from the
previous week. but, rejecting the higher
interest rates, were lower than last year.
Stock prices showed a considerable gain
over the previous week ana were SUD-
stantially higher than year ago. Busi-
ness failures were also fractionally
greater than during the preceding week,
but were fewer than during the cor
responding period Of 1928.
Cotton Receipts.
Receipts of cotton were greater than
for either the previous week or the cor
responding period Of last year. Receipts
of cattle and hogs at the principal pri-
mary markets during the latest reported
week also showed declines from the
previous week. Receipts of cattle were
smaller and those of hogs greater than
year ago. Wheat receipts showed a
substantial gain from both prior
periods"
In Canada, the review said that
merchandise movement through dis
tribution channels had been speeding
up. In Cuba, in spite of continued low
prices for sugar, it was estimated that
general conditions were better than in
the same month last year. South Amer
lean countries, aside from Argentina,
were represented as experiencing con-
siderable business depression.