The border vidette., 1933-08-05
ECONOMIC HIGHLiGHTS
July 81, 1888


been talking about recovery,
At first. that talk principally
represented optimism. T h n
soma actual signs of recovery
began to appear. The indexes
took on more cheerful tone.
Now there's no longer any ques-
ton about it. Recovery is here.
There's hardly an industry that
isn't feeling new blood in its
veins these days.
A recent New York Times
survey is a good example. 1t is
based on six of the most trust
worthy barometers-automobile
production. steel mill activity,
lum Der production, electric power
output, freight car loadings and
cotton forwardings. Ga March
18 the com bined index stood at
600. On July l it stood at 81. 3
"a gain Of better than 50 per
cent.
Here are some reports, mostly
based on Department of Com
merce findings:
Commodity prices-There has
been a continued upward move.
ment.
Employment - Improvement
marked and widespread. Dur.
ing June more than 100000 per
sons found work in manufactur,
ing and 16 non manufacturing
industries, irrespective of agri
culture, railroads and other
fields.
Finance-Until very recently
stock prices moved constantly
up. The recession that followed
is of no particular importance; it
is principally the result of profit
taking in a speculators' market.
Construction-Ia the first half
Of June contracts represented
the highest activity since fall.
Most pronounced gain was in
non residential construction.
Observation-Disclosures car
loadings are much better than
last year at this time, and i'm
provement has been sustained.
Automobiles-It is customary
for O. seasonal decline to appear
10 June. This year there was
an increase instead. II May
passenger. car output was 56 per
cent above the monthly average
for the last year.
Chemical tries-Custom.
arily experience seasonal drop
10 June; this year the drops has
not occurred. and prices have
risen.
Foodstuffs - Activity greater.
Payrolls in all groups. with the
exception of -four milling higher.
Wholesale food prices advancing
Lum ber- Continued improve
ment of the last few months dur
ing May and early June. West
ern pine output ecently touched
the comparatively high level OF
35.7 per cent of capacity.
Steel-There has been continu
ed contraseasonal Improvement.
Ia the latter part of June activ
ity reached 80 per cent of capa.
city, the highest in two years,
and has advanced since. A year
ago rate was about Is per cent
Of capacity.
Observation-Disclosures increas
ed sharply in May and COZ tinued
into June, with consequent gains
in both employment totals and
payrolls. Prices rising.
Paper-Sharing in the general
industrial gain. Ia June for the
first time since Fe bruary, 1880
shipments of newsprint exec ed
ed those OF the corresponding
month of the preceding year.
Wool-Rising prices accom-
pany increased output. Pros
pactive wool clip is affected by
bad weather in Australia and
Western United States.
Silk - Deliveries increasing
since first of the year ;now close
to normal.
Silver-recently touched 1914
cents, highest price since May,
1880.
Ole Of the most important
factors in the present trend, is
thu way seasonal Influences are
being overrldcen. A hundred
industries are showing improve
ment at a time when summer
decline almost invariably occurs
Another excellent sign is the con
tinua3 decline in the number OF