Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-24
INVESTMENT LOANS
SHOWING INCREASE
Reserve Board Review Says
General Price Levels
Reveal Declines.

Volume of factory production IN.
creased by about the usual seasonal
amount In September, while factory
employment increased somewhat less
than in other recen: years. saws the
Federal Reserve Boards monthly bulle-
TN; Inc general level Of prices, which
mad advanced during August. declined
during September and the first half of
october. At member banks in leading
cities there was liquidation of security
loans, and a considerable growth In
commercial loans and in investments.
Output of factories increased season.
ally in September, while that of mines
declined. The boards seasonally ad-
Justed index of production in factories
ana mines which had shown a substan-
Clal decrease for each of the preceding
four months, declined by about = per
cent In September. Production of iron
ana steel. lumber and cement de-
creased, and the output of automobiles
continued to be in small volume. Activ-
ity in the textile industries, including
cotton, wool and silk, increased sub
stantially, and stocks of cotton cloth
were further reduced.
AT bituminous coal mines there was
an increase in output of more than
seasonal amount; output of copper was
larger than In August, and there was a
further increase in stocks of copper.
anthracite coal and petroleum produc-
ton and shipments of iron ore declined.
Employment Differs.
Employment in manufacturing estab-
| lishments increased less than is usual
at this season, the increase being chiefly
In fruit and vegetable canning and in
clothing industries, while reductions in
number Of employees were reported for
the iron and steel, automobile and
lumber industries. Outside of factories.
increased employment was reported In
retail establishments and coal mines.
Residential building increased ma
terially in September, contrary to the
usual seasonal trend, while the volume
OF contracts for commercial buildings
and public works and utilities decreased.
Total value of building contracts award
ed, as reported by the F. w. Dodge
Corporation, showed little change dur
ing the month. In the first 10 days
Of October there was an increase in
the daily average volume of contracts
awarded.
Department Of Agriculture estimates
based on October / conditions indicate
| somewhat larger crops than the esti-
| mates made a month earlier for cotton
corn, oats, hay, potatoes and tobacco.
| Freight car loadings continued at low
| levels during September the increases
reported for most classes of freight
being less than ordinarily occur in this
month. Dollar volume of department
| store sales increased by nearly 80 per
cent, an increase about equal to the
estimated seasonal growth.
| But Few Price Changes.
The index of wholesale prices on the
average for the month Of September as
| whole, according to the Bureau Of
Labor Statistics, was at about the same
level as in July and August The move
ment of prices, however, was upward
in August, rejecting chiefly advances in
the prices of live stock and meats, while
in September the movement was down.
/ ward, rejecting declines in q large
number of commodities, including
grains. live stock, meats, cotton and
| copper.
In the first half of October there were
wide fluctuations in many agricultural
prices, decreases in prices of non-fer-
rous metals and considerable increases
in the prices of sugar and coffee.