Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-26
Factors i'm Trade
Upturn Shown by
Check of Industry
Pay Rolls, Cloth Sales.
Bank Loans and Build.
ing Indicate Progress.
Special Dispatch to The Star.

| 0pcSLai DlSphCCn 70 Inc DLar'
NEW YORK, October 25.-while
general business is Enthusiastically on the
road to recovery, progress so far has
been feeble and spotty, furnishing testi-
mony to the probability that the vol
ume of business will not reach satisfac-
tory proportions before next Spring, at
the earliest, says the Alexander Hamil-
ton Institute. 1t should be considered
encouraging, however, that the worst
| Of the depression is now over and that
| the present tendency Is upward.
The pessimism which has been so
| prevalent lately Is entirely unwarranted
and statements to the effect that the
| prosperity of the past will never return
| and that the country is facing re-
! duced standard of living are absurd.
Prosperity depends upon production,
and the means to produce are as great
| now as in 1929.
The United States still has machin-
cry, abundant natural resources and an
energetic, capable and intelligent peo-
pie Given these fundamentals. nothing
can stop over the long-term trend in
creasing production, greater prosperity,
q higher standard of living. A period
of depression is not sign of degenera-
ton, but sign of progress. 1t Is merely
| the result of zealousness overdone, a
characteristic which is the root of
progress. Out of all the depressions
| which have occurred in the past. a
greater prosperity has eventually
| sprung.
Evidences of Upturn.
Evidence that business has already
made some upward progress Is fur
nished by the following facts:
l. Manufacturing activity. as meas
ured by factory consumption Of cleo
! tricity, has been on the increase since
July. The September index was l10.7,
as against 1858 in August and 1851 in
July.
g. The total amount of wages paid to
| factory employees was larger in Septem-
Der than in August.
g. In September "a industries re-
/ ported an increase in employment over
August.
4. The index Of machine tool orders
was 1859 in September. as compared
with 1913 in August and ell in July.
S. Sales Of cotton cloth have been
steadily increasing since June. Average
weekly sales in September amounted to
| $4,000, 600 yards, as compared with A.
00o. 900 in August, 100000 in July
and 80 100000 in June.
8. Residential building Is showing in
creased activity. Contracts awarded in
September totaled 500 900, 600, as against
$50, 10000 in August. Preliminary re-
ports indicate a further increase in Oc-
| tober
7. Bituminous coal mining has been
on the increase since June. Production
| in September totaled go, 580,000 tons, as
against 1861 900 tons in August.
More Power Being Used.
g. The output of electricity for the
week ended October 10 totaled 1,710,-
10000 kilowatt hours, as compared
with the 1880 low of ,565, 200, 900 kilo-
watt hours for the week ended July IL
8. Foreign trade is showing expan-
sion. Exports in September amounted
to $4,000, 900, as against S2e8 900 900
In August and $267 600, 900 in July. I'M
ports in September showed an increase
over August
TO- Commercial loans have been on
the increase since the end of Septem-
Der. For the week ended October Is
loans Of reporting member banks
amounted to $8,606, 900 900, as against
S8,453, 000,0 600 for the week ended Sep
TENDER "a.
IL. Wholesale commodity prices, on
the average, have shown little change
since July, indicating that the bottom
has been reached.