The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1933-02-17
ECONOMIC HIGHLIGHTS
February Is, 1888.
Happenings That Affect the Dinner Pals, Dividend
Checks and Tax Bills of Every Individual National
and International Problems Inseparable From Local
Welfare.

Under present business conditions, no is apt
to be good news. While business is showing no par
interrupted and measure of stability reached. It is
hoped that political during the next few months
will have helpful effect business in the future.
Last summer the country underwent time of
financial liquidation with strengthening of our financial
structure. This was followed by similar period of
commodity liquidation, which seems now coming to
end The next step will doubtless be further
mercial liquidation and readustment to put many of
industries basis to show earnings in normal
times.
Since 1929 there has been decline in foreign
markets for American agricultural products but last
year the decline showed tendency to sacken It is
believed that the problems of disturbed monetary
systems and trade barriers partially settled the
products will reach foreign lands
Domestic demand for products is naturally await
ing industrial recovery Even slight change for the
better in business generally, should cause marked
improvement in farm markets.
Potential bank credit is the equivalent of the
money existing in the country. At the moment, this
credit supply is unusually large Member banks of
the Federal Reserve have $60O,O0O,O0O of
and it is stated that these banks could expand
their credits by O00 600 without borrowing from
the Federal Treasury Interest rates money at
unprecedented low levels.
Latest reports on Major industries show:
MOTION PlCTURE-A new alignment Of the
aar ara
principal difficulty is in real estate carrying
charges on theatres built during boom years.
cloth demand steady.
OIL-Refiners breaking even, despite low gasoline
CIGARETTES showed gain in con-
SUMPTION as compared with decline in most
other months of 1882.
TIRES-Price- cutting has broken out again. with
resulting disturbance
MEAT PACKING-Outlook good for moderate
profit during coming fiscal year.
AUTOMOBILE-Sales continue to improve with
January well over year ago. 1t is interesting
to note that price reductions have resulted from
improved efficiency, and not by reductions in
dealer margins in quality.
In effort to check rapidly diminishing passenger
revenues the railroads of the country planning
various classes of rate reductions designed to bring
back lost business. February 1, western roads made
marked passenger fare cut. The seasonal decline in
freight loadings showing tendency to moderate
compared with the period year ago.
With an estimated ST 500 900 900 at stake in the
form of mortgaged debt in nine states midwest farmers
sticking resoluely to their campaign against fore
closure sales. In growing number of instances,
groups of farmers have prevented open auctions of
properties and bought them at extremely low figures
Various public officials tending to aid in preventing
foreclosures.
The exodus from the city to the farm-in direct
opposition to the trend of few years ago-has
sweled the farm population to SO 900 close to the
1910 peak. Some farm communities object, as new
school facilities and relief funds thus become
sary However, compromising factor is that wider
market for farms is provided.
A decidedly better feeling is noticeable in
Australia with government and private finances i'm
proved. Chinese Industries are active and better
Improvement in several industries is noticed in France,
with the crop situation promising Favorable factors
in Norway improved shipping, better crop returns