The Washington times., 1930-09-02
SEE CEMENT
INDUSTRY
GAINING

Activity in the cement 1nduS-
try in Michigan Inc June showed
an Improvement over the same
month year ago, according to
data now in hand. The increase
amounted TO put per cent, yet,
in the light Of circumstances,
even such a gain is significant, &C.
cording to the current issue Of
Michigan Graphic" published
by the First National Bank in De.
troit. Its report on Michigan bust.
ness conditions follows:
public utility activity was
less than during the same
month last year, but ahead Of
two years ago. The remainder
of the indexes bank clearingS,
building contracts awarded, in
dustriaI consumption of power
and motor vehicle production
all indicate less activity than
last year or the year before.
"NO material change is indi-
Gated in recently issued bank
clearing figures. The total for
July, as reported by Federal Re
serve member banks in seven
Michigan cities, was at level
25.6 per cent below last year,
and 17.3 per cent below two
years ago. Cumulative totals for
the period of 1929, and IL per
cent below 1928.
"The award of building con-
tracts during July WAS in much
smaller per cent below July, 1929,
and 32.2 per cent below July,
1928. All categories shared in
the decline, residentia1-type. CON
structiOn being 69.5 per cent be-
low last year, n0nresidential
45.9 per cent, and public works
and utilities 4O.7 per cent. Seven
months aggregates show little
variation from the above, the
total so far this year being 45.9
per cent below last, and 1866
per cent below two years ago.
Again all types participated in
the decrease, residential being
off 56.7 per cent from last year
n0n-reSidential Is per cent, and
public works and utilities 1926
per cent.
''Michigans public utility in
duStry continues to report sub
stantiaI activity. The month Of
June saw production Of elec.
trio energy in an amount only
9.6 per cent below last year,
and 2.9 per cent above two
years ago. For the year to
date, production has been but
6.3 per cent below that for 1929
and 7.2 per cent above the 1928
level. The Industrial cOnSump-
tiOn of electric power during
July was in an amount 31.9
per cent below July, 1929, and
Ia per cent below July. 1928.
The shutdown of various manu-
facturers. chiefly in the auto
mobile industry for inventory.
taking and vacations, doubtless
accounts largely for this ex-
treme decline. The first seven
months have seen manufacture
ing activity, as indicated by this
index, 2O.3 per cent below last
years levels, and A per cent
above those Of two years ago.
"June production of finished
Portland cement in Michigan
was in an amount per cent
above last year, and FL per
cent above two years ago. Rela-
lively lower levels of activity
earlier in the year, however,
caused the aggregate for 1880
to date to be 27.3 per cent be-
low 1929. and 5.8 per cent be-
low 1928.
Shutdown for inventory and
vacation took their toll in July
in automOtive production fig.
ureS. Motor vehicles were
turned out in an amount AT
per cent below last year, and
33 per. cent below two years
ago, with all classes sharing in
the decline. The output Of
passenger 'carS was AT per
cent below last year. trucks 46.9
per cent and taxicabs I'll per
cent. Totals for the year to
date are quite a bit different.
The aggregate So far in 1880
has been 33.4 per cent below
1929, and but As per cent be-
low 1928. Each category re-
vealS decreases, passenger cars
to the extent of 1876 per cent,
as comDared with last year,
trucks 31.5 per cent and taxi.
cabs $50 per cent. In connec-
tion with the shut-downs, it is
interesting to note that in most
cases those companies affected
have resumed operations at