The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1933-05-10
Steel, COTTON
HOLDUPCRADE
Sales and Production in
Many Lines Continue
to Show Gains
BY MAX BUCKINGHAM
United Press Financial Writer
Copyright, 1888, by u. P.


NEW YORK, May 1O.-(UP).
Industry slowly is overcoming the
busineSS-paralysis which has grip
ped the nation for three years.
Sales are increasing. PrOduc-
tion in many lines is on the up
grade. Some salary increases are
reported. More men are return
ing to work. Business leaders
have tinged their public utter
ances and annual reports with a
shade of optimism which has been
lacking for many months.
Administrative ecOnomlc-recOV-
cry efforts has been :he virus
that inspired new business, with
possibility of initiation one of the
strong factors. This particularly
is true in the wholesale markets
of New York One trade pubEca-
ton said Tuesday that genera!
buying rush is materializing in all
lines of textiles and staples.
Some manufacturers and job
bers in these lines are beginning
to experience difficulty in MAX
ing deliveries while some dry
goods producers are sold out
we'll into the summer one mem
Der of this trade publication re-
ported.
From Albany. n. Y, yesterday
came advices that filing Of lncOr-
poration papers had received a
new impetus and were averaging
about 100 per day in the last few
days. A Hudson river steamship
company is inaugurating a night
freight service to handle shipping
demand stO upstate from New
York city.
And this Improvement extends
elsewhere. Steel production is
reported around SO per cent of
capacity and the magazine steel
predicts production will reach Al
per cent shortly, a figure at
which many steel companies can
operate at a profit. Wheeling
district operations have jumped
to so per cent-the highest rate
since 1929.
Public utility men report the
. first SIGN of increased demand
for electric power is being noted.
The Northern Pennsylvania Pow
er company reported that net in
come for 1882 was $369,937 as
against $3O5,247 in 1881.
The National Automobile Cham
Der of Commerce reported that
April automobile production was
SO per cent greater than March.
This report covered operations of
all major producers with excep-
tiOn of Ford.
The National Lumber Manufac-
turers association reported that
new orders for lumber in the
week ended April % were larger
than any other week this year
and, with two exceptions, of
1882.
Cotton and tobacco mills in
the south have added employees
with some cotton mills increasing
salaries. The Washington mill of
the American wooden mills at
Lawrence, Mass, idle nearly a
year, was reopened Tuesday. The
A. C. Spark Plub company at De-
troit, Mich. reported it had more
untitled orders on hand May l
than at any time in the last two
years and that 200 men were
added to the payroll in that
month. ]. C.. Penney and COM
pany reported increased sales in
April.
Rubber companies have brought
back many of their old employees
and the Goodyear Tire and Rub
Der company yesterday announced
all salaried employees in the gen.
eral offices were placed on an g
hour, 5-day week and that go
per cent of the employees, who
have been working on 7-hour D.
day week, were to regain the II
1-2 per cent salary reduction
placed in effect some time ago.
Business leaders were opti-
mistic. L. F. Loree Of the Della
ware and Hudson company said
yesterday.
'rWhen traffic does come back
increased efficiency will enable
MS TO show more profit than ever
before"
Walter S. Franklin Of the Wa
bash railroad said:
"This Improvement has all the
earmarks of being more stable
than any of the upturns of the
last three years. The improve
ment looks genuine" .
Myron C. Taylor of the United
States Steel corporation in his
annual report said:
81 have great hope and be-
lieve that we are on our way to
better things"
Eugene Grace recently told
stockholders of Bethlehem steel:
Continued on mace four)