The border vidette., 1933-07-01
ECONOMIC HlGHLIGHTS
June 26, 1888


experience of the past three
years, the Department of Com
merce's latest. Survey of Cur.
rent Business" makes encourag
ing reading. During May prac
tically all important indicators
of production were appreciably
higher than in May 1932;improve
msnt in basic lines. such as
automobiles and textiles has
been strikingly substantial.
Prices, for both commodities and
securities. are advancing as re
suit Of general business improve
ment. plus stimuli of imitation
and other proceedings designed
to lift price levels. Employment
and payroll increases have like.
wise been marked. Specific 10.
formation on particular phases
OF business follows:
I Commodity Prices-Most pro
nounced advance made in farm
prices, with change of Is per
cent from March II TO May 13.
Domestic Trade-Car loadings
show consistent Improvement
Retail sales up. Commercial fail
ures on the down-grade. Ad
vertising lineage has increased !.
partly due to seasonal trends.
Ffnance-Stock prices we'll up,
partly because of imitation pros
poets. Bond market has been
irregular, but greatly improved.
Banking during May showed
steady reduction in mem Der
bank borrowings from Federal
Reserve. and an easier credit
situation.
Construction-The first sign
that the construction industry is
sharing in general business re
vival appeared in May. when ia
dicated building outlays ran 1913
per cent above April. This is
first time in four years that re
sidential building was greater in
May than in-.April The indus
try confidently expects a heavy
and sustained building boom 10
near future. It is officially =
estimated that the country is
short 500, 900 bones. Heavy 10
dustrial building is likewise
| pending.
Automobiles-Trend has been
upward, with bulk of activity
centered in low price field. Elk.
ports we'll ahead of last year.
Lumber - Production behind
consumption, and stocks being
disposed of. Little price improve
ment. Like the construction
industry, lumber looking for.
ward to building revival.
Farm-Prices show steady
rise. Wheat has made good re
cord; corn has jumped still more
sharply. Farm employ ment
gains.
Steel-Since March there has
been rapid expansion in produc
ton schedules-far ahead of last
year. In price, scrap has shown
best vances. with moderate
improvement in finished pro
ducts.
Textile-In April. the industry
was II percent better than in
March, 81 percent over April,
1882. anc but Is percent below
the l923-25 average. Wool con
sumption and prices conseq oent-
ly rising.
Foreign trade is still 10 a state
of coma. During April, both
im ports aud exports declined
lutte if any Improvement since
then. The foreign trade prob
len will not necessarily improve
with general Industrial recovery
the imposing array of tariff
barriers, embargoes, etc, in the
msjor countries are the principa
difficulties.
These difficulties are amouQ
reasons for the World Economic
Conference. So far the Confer
epce has not been roaring sue
cess, As expected, war debts
made an early appearance, anC
we're greeted by cheers and cat
| calls, depending on what flae
4 the deleg alton represented. The
European position is that n(
4 discussion of world economic:
/ can overlook the debts; Ameri
can position is that they should
be considered st another meet
ing, and that the present con
ference should confne itself II
matters programmed. Furthe
disruption will doubtless follow
actions of countries in meetiDl