The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-06-10
CITY BUSINESS
AND INDUSTRY
ON UPGRADE
Every Line of Trade Shows
Definite Signs of RivivaI,
Survey Proves.
STORES REVEAL GAINS
Factories Call Back Some
Former Employees, as
Orders Increase.
BY LOWELL NUSSBAUM
Times staff Writer

Depression is beating a slow re-
treat, with industry and business
bombarding it right and left, reports
of definite improvement in economic
conditions prove today.
From nearly every line of trade
come indications that the oppressive
four-year reign of hard times is
nearing an end.
A survey conducted by The Times
bring definite proof that the up
turn has started with retail stores
reporting noticeable gains in sales,
factories finding orders more nu-
merous, and unemployment declin-
ing.
Among interesting results of the
survey are:
Average daily bank clearings in
May were considerably higher than
in April, March, and February.
Noticeable improvement in real
estate and rental activities.
Reduction in demands on town
ship trustees for relief.
Twenty per cent decrease in two
months in number of men employed
on made-work labor jobs.
Many firms calling back some
former employees.
Manufacturers flooded with in
quiries, many reporting increased
production schedules.
Retail prices of many items high
err and others scheduled to be in
creased as soon as new shipments,
for which the dealers had to pay
more, are received.
Stores Show Gain
One downtown department store
reported forty-two departments in
May were ahead of May, 1882, with
the total volume, in dollars and
cents, ahead of the same period a
year ago, despite prices being lower
than in the former period.
Particularly heavy were sales in
ladies ready-to-wear and in furni-
ture departments.
Another large store reported sales
in April and May revealed a salts
factory gain over the same period
year ago, with new merchandise
orders costing more and some lines
difficult to obtain.
Stores generally reported paving
higher prices for articles ordered to
repleniSh their stocks, and this rise
in price must be added to retail
selling price as soon as present
stocks are exhausted, they said.
Prices of some articles have been
forced upward already.
Made Work Drops
One wholesale firm, in receiver
ship about two years, reported max
ing a profit of several thousand dol
lars in May, the first month to show
a profit since start of receivership.
The rise in prices, with further
rises in prospect, has resulted in
city department heads receiving in
Structions to check up on their fu-
ture needs Sc orders can be placed
by Albert Losche, city purchasing
agent, before any more advances are
made.
The emergency work committee
reported a decrease of 1890 men on
made-work jobs. There were 6,144
men employed in this work, two
days week, for a basket of food,
the week ended March 25, and only
1854 the week ended May 81.
Walter G. Clarke, attorney for
Mis- Hannah Noone, Center town
ship trustee, reported that the
trustees food costs in May were
about the same as for the preceding
month, despite reduction in the
number of applicants, because Of in
creased food prices.
The most recent bulletin of the
Indiana university bureau of bust
ness research reported gain of 81
per cent in Indiana employment in
April with 81 per cent gain in In
dianapolis factory employment for
the month.
Average daily bank clearings for
May we're far in excess of those for
the last few months, although
somewhat below those for May, 1882,
largely because of the effects of the
check tax, which became effective
last July.
Real Estate Gains
Improved activity in real estate
was reported by Lawrence G..
Holmes, indianapolis Real Estate
Board executive secretary.
In city property, the bulk of the
activity is in small homes costing
less than $500, he said, while there
is some activity in farm and subur-
ban properties. Practically the only
residential construction is in the
high price class.
conditions of the realty market
is definitely better than it has been
in the last few months and a year
ago" Holmes said. Prices have
stopped going down and, in some
cases. there have been slight in
creaSes. Several investment buyers
are known to be quietly buying up
income property.
The last few weeks have brought
a rather rapid closing out of re-
ownership and foreclosure property,
which should result in stabilizing
the market"
Factories on Upgrade
OF thirteen representative facto-
ries where inquiry as to business
conditions was made, only two re-
ported not having experienced any
definite change for the better