The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-11-16
BY RAYMOND CLAPPER
United Press stan Correspondent
LCopYrlght 1891. By United Pressl

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BY RAYMOND CLAPPER
United Press STAFF Correspondent
copyright. 1881. BY United Press
BOSTON. Nov. 16.-The Atlantic
seaboard. industrial and financial
nerve center Of America, may be
compared to a convalescent during
his first attempts to get out of bed.
This was revealed in a week Of
inquiry into business centers whose
business leaders ranged from the
restrained optimists" of Philadel-
phia to those of New York rubbing
hands" in anticipation of bigger
business to come.
On Oct. 5 the patient wondered
why he was allowed TO live. Prices
reached the bottom most point Of
two dark years.
Then the doctors told him he was
getting better if he only knew it..
The Hoover $500,000,C00 bank credit
pool proved another stimulant. The
hcme financing bank plan also will
help and with a few pats Of encour-
agenent the patient felt like new
man and leaped out Of bed
This is going to be nothing at
all for me-" he thought as he took
his first confident steps
Careful; Take 1t Easy"
Wheat and cotton began to shoot
upward Wall Street prices made
striking gains.
Then the knees began to shake a
little. Mustn't try to go too fast.
Takes a little time to build up the
habby muscles. Have to take 1t
gradually. You've been a sick man
and you1l have to go easy for a
lille.
That's where we are now.
New England has been steadied
by the textile industry which went
through much of its readjustment
before the depression. 1t therefore
could meet the changed conditions
more satisfactorily than many
other industries.
Consumer demand both in textiles
and shoes has been the brightest
factor in this area though some re-
cent curtailment due to &C
cumulating stocks has taken place.
The end of the textile strikes at
Lawrence has helped, though there
have been pay cuts again at Lowell.
Some Fall River mills are closing
down temporarily.
Nevertheless general sentiment is
improving
Philadelphia Is Cautious
Mayor Curley is heading plans for
a ceremonial burying of General
Depression before more than $4,000
spectators at the Thanksgiving day
football game between Boston COL
lege and Holy Cross, which shows
at least his heart is in the right
place.
The Boston g. Maine is about to
put on men in it's Concord shops to
make a string of new cabooses.
Department store sales in dollars
are under those of last year, though
some merchants report the volume
is greater at lower prices.
In Philadelphia business men are
restraining their optimism while
feeling that first signs of improve
ment are appearing. Metal indus
tries are employing II per cent more
men than in July.
E. c.. Budd Manufacturing Com
pany, operating a large body plant,
reports overtime in some depart
ments. Tool and textile machine
shops are doing more business,
though a seasonal drop in the radio
industry has thrown numbers of
metal workers out of jobs.
The state employment office re-
ports calls for skilled workers eX-
ceeding anything in the last eight
cen months. But there are an eSti-
mated $50 900 idle in Philadelphia.
New York Enthusiastic
1t is different in New York. Exec
utives are beginning to rub their
hands briskly. They are as mercu-
hal as the stock market and, while
the last week saw a decline, they
are not yet ready to take it Seri-
ously.
Many, as in the case of Reming-
ton-Rand Company, are receiving
) favorable reports of increased de-
mand from their branches out In
the country. Christmas trade and
millions in Christmas savings are
counted on to run up retail buying.
Above ALL the dollar appears to
| have come through the recent at
tack from abroad stronger than
! ever Gold reserves are rising and
boarding appears checked. This may
mean little out in the country, but
it is vital in the New York nerve
center.
Around Albany scattered improve
ment is noted. The American Loco
motive Works has an order for ten
locomotives from the Lehigh Valley
railroad. which will keep 1900 to
1900 men at work for three months.
C. E. Jobs Increase
At schenectady, General Electric
officials noted a slight employment
increase, though the plant still is
on part-time, with staggered work.
S M. Vaughn. secretary of the
4 Schenectady Chamber of Commerce
said merchants are looking for
ward to brighter conditions and a
par Christmas shopping season"
Troy, the big collar town, has
come through without any very
drastic reduction in pay or help IL
ITS main industry. Orders from the
Pacific coast have Jagged, but the
east shows an increase.
Burden Iron Company, one OF thS
oldest in the world, has put 200 en-
ployes and six additional furnaces
back to work. The Hudson Valley
Fuel Company, largest in the state
gradually has increased produetcGn
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