The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-07-24
SHARP UPTREND
IN BUSINESS is
FELT IN STATE
Gains Break Record of
Month. Indiana u. Sur
vey Shows.

The current issue OF the 1rQland
Business Review. published by the
Indiana university bureau OF busi-
ness research. reports trade and in
dustrial volumes in Indiana higher
during the last month than at any
other time since February 1882.
Part Of this upturn represents &C
tual recovery. and part has been
the result of speculative factors.
There has been a large amount Of
forward buying in anticipation Of
higher prices. Another important
factor has been the attempt Of
manufacturers to build up invent0-
rias prior TO the operation Of the
national industrial recovery act.
Total Indiana employment
gained more in June than during
any other month in recent years, T
according 10 the report AT the
end Of June. representative firms
reported total employment 83 per
cent above a month ago and IT
per cent above a year ago A large
number Of workers we're given more
hours OF employment.
Representative manufacturers OF
textile products reported total en-
ployment 63 per cent above a month
ago and 204 per cent above year
ago. Auto accessory plants increased
operating schedules in June. Build
ing trades remained quiet There
was a slight upturn in remodeling
activity. bat very little new con-
structiOn vas started
Auto Sales Spurred
Automobile sales showed more
improvement than any other line
Of retail trade New passenger car
sales during the past month pro-
duccd the biggest June total since
1929 Used car sales We're 80 per
cent above normal and less than
per cent under the record June total
established in 1926 Early reports
indicate that department store sales
for the state as a whole were about
equal to a month ago and above
a year ago.
Unusually hot weather Offset the
advantages that usually come as n
result OF an increase in available
purchasing power but sales nor
mally decline during June and no
change in June can Justly be con-
sidercd an improvement in trade
Drug store sales were equal TO
month ago and about Is per cent
under a year ago Postofiice receipts
made the usual seasonal decline.
The recent upturn in the steel
industry has been more rapid than
in most other lines of business
activity Ingot output in the In
diana Illinois district gained from
10 per cent capacity during early
April to go per cent capacity during
the second week of July. Electricity
output continued TO gain as re-
suit OF increased industrial activity
Furniture production has gained
steadily since March The limestone
industry remained slow Coal pro-
duction continued to lag behind
general industrial activity
Employment Is On Gain
The Review gives the following re-
port on business conditions in In
dlanapoliS Most lines of business
activity showed improvement dur
ing the past month. The Indian
apoliS general business index was re-
viSed TO 63.2 for May. and the pre-
liminary June index stands at Sos
TRiS compares with 685 a year ago
and 1928 for June. 1929 A large
number Of factories reported operat-
ing schedules above year ago.
Preliminary reports indicate that
industrial employment gained %
per cent during June Some lines of
business activity reported fewer
names on their pay rolls. Total en-
ployment in all lines OF trade and
industry was ~ per cent above a
month ago and 325 per cent under
the average for April and May. 1929
Building trades were slightly more
active. but total construction was
7S7 per cent under theoretical nor
NAL. Minor repair Jobs continued to
constitute the major building &C.
tivsty. More new cars were sold III
the past month than during any
other month since MAY. 1881 The
june total was nearly 80 per cent
under the corresponding period in
1929 and 264 percent under normal
Car Loadings Higher
Revised figures indicate that the
dollar value of May department
store trade was Sd per cent above
a year ago and 22S per cent under
theoretical normal Preliminary re-
ports indicate that sales made
more than the usual seasonal de-
cline in June
Newspaper advertising made less
than the usual seasonal decline TO
a point $50 per cent under normal
Postoflce receipts were 60 per cent
above a year ago Bank debts
made slightly more than the usual
seasonal upturn TO a point 1854 per
cent under theoretical normal.
Freight car loadlngs were higher
than during any other month since
October. 1881 Retail food costs
increased more than II per cent
during the two-month period end
ing June IS. The cost OF living de-
clined 81 per cent during the six
month period ended in June and
was Isl per cent under the cores