The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-09-25
PRODUCTION IN
U. S. CLIMBING
OVER 81 LEVEL
Is Per Cent Increase Is
Reported in Federal
Board Survey.

BIZ Times Special
NEW YORK, Sept. 25.-Manufac.
turing production in the United
States in the first seven months o.
1888 averaged Is per cent higher
than in the year 1882. according tc
an analysis Of federal reserve board
indexes by the national industrial
conference board. In mining pro-
duction averaged 125 per cent high
er than in the year 1882.
The low point in manufacturing
according to the conference board
was reached in March, 1893. A re-
covery Of 7 per cent in the -four
months that followed brought pro-
duction very close to the average OF
the three-year period 1923 TO 1925
Different industries participated IN
this increase in different degrees.
At the beginning Of 1880, seven
of nine specified industries were at
a production level above that OF
1923 TO 1925. These industries were
iron and steel, textiles, paper ano
printing. leather, rubber tires ano
tubes, petroleum refining, and ce-
ment. The exceptions we're auto
mobiles and foOdstuffs, which were
within per cent of that level.
Iron, Steel, Lead
Subsequently, the most conspicu
GUS falling off was in the iron and
steel industry, which in March, 1888
produced only % per cent of its
I923-1925 output, and the automo-
bile industry, which in october
1882, produced only 10 per cent ano
in March. 1888, only q per cent OF
its 1923-1925 output. In July, 1888
however, the iron and steel industry
had risen to 100 per cent and the
automobile industry to 10 per cent
of the 1928 1925 average output.
Variations in the other industries
were less extreme. Apart from Pc
troleum refining, which throughout
the last three years has stood con-
siderably above the 1923-1925 level
the highest production in March
1888. was in the food and leather in
dustrieS, each of which stood at 81
per cent of the 1923-1925 level Of
production.
In July, 1898, the manufacture Of
foods was at the 1923-l925 level
while leather manufacture exceeded
that level by IA per cent. Production
in the textile industry, which regis
tered its lowest point in May, 1882
had by June. 1888, reached a point
80 per cent above its 1923-l925 aver
age. In July, however, 1t fell on
slightly. These comparisons make
due allowances for average seasonal.
variation.
Contrast Rubber, Autos
The contrast between the produc-
ton of automobiles and that Of rub
Der tires and tubes is Interesting
In the latter. where the replace
ment demand is more constant, the
level of production follows very
closely the general average, while
automobile production shows wide
variations.
When automobile production 1r
October, 1882, was only l6 per cent
of the 1923-1925 average produc-
ton of rubber tires and tubes wa;
68 per cent, as compared with a gen.
eraI average of &c per cent for man
ufacturing. The figures for rubber
tires and tubes, June, 1888, show
production Is per cent above the
Ie23-1925 level, as compared with
"a per cent below for automobiles
and 9 per cent below for manufac-
turing generally.
In general, there was in the pc
Rod preceding March. 1888, less
decline. and after after that rela-
lively less recovery in industries
whose products went direct into
consumers hands than in those pro-
ducing northumberland goods fol-
use of producers in other lines OF
industry, construction and transpor-
tatiOn.