The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-06-23
BUSINESS GAINING
AT SWIFTER PACE,
SURVEY D|SCLOSES
Hesitancy, Anticipated As Re.
suit Of New Laws, Fails
to Materialize

New YORK, June 23.-Hr6OSl0eSS
in the past week continued its ex-
|pansion, wholly unaffected by sea-
sonal influences, said the Dun &
Bradstreet review Friday.
Expected hesitancy from uncertain
ties regarding the application Of COM
modify processing taxes. the agency
asserted, was not apparent In manu-
featuring schedules which we're gen.
orally above those. Of week ago.
The broadened sweep at which
trade Is now progressing" continued
the review, lis el1citing establishment
from even the most time-worn vet
Grams Of industry, as the sustained
strength Of the upswing has passed
boldly beyond even the most sanguine
expectations.
THE further widening Of employ
ment and the continued rising trend
Of wages from the base Of the larger
buying power the concrete evidence
Of which Is apparent In the constant
ly widening distributive totals. AS ur.
gent needs for footwear and clothing
are covered and accumulated. bills
paid, interest becomes more centered
on furniture, house furnishings, rad
los, musical instruments and even jew
elry."
Currency Coming Back
The return Of currency from circu-
MISUNDERSTANDING feature OF the
banking situation-is laying q firm
foundation for the expansion of credit
and the stimulation Of business fin
ancial observers maintain.
American commodity prices have
outstripped the fall Of the dollar and
are pointing for President Roosevelt's
goal Of level high enough to bring
the country some prosperity.
For the first time since the stock
markets and the commodity indexes
started their climb, an official analy-
sis has now indicated the spread be-
tween the true price rise and the dol
lars depreciation as q consequence
Of gold standard abandonment. The
federal reserve boards monthly re-
view came out Friday with the state
ment that by the end of May-just
before the latest decline began-the
dollar was down Is per cent In terms
OF French francs, the leading gold
standard currency. The British pound
had lost two per cent In the same
time.
Six basic, commodities, said the
board, had by the end Of May jumped
60 per cent since February. One-half
of the rise corresponded to q general
world rise, and the remaining 80 per
cent represented dollar depreciation
plus actual domestic rise. The COM
modittes discussed were cotton, lard,
silver, copper, tin and rubber.
Still Far Below 1925
There Is still q long way to go to
reach the 1926 average which Is re-
garded Is the Roosevelt goal, and
pending which the dollar stabiliza-
ton plans are being held off. The
department Of labor placed the June
II index for all commodities at CAS-
against 100 for 1926. The course was
charted steadily upward through the
past several weeks; May 20 1t was $50
and the succeeding weeks 633, 63.8,
$40 and now 64.5.
With this clearcut evidence Of q
mounting tide went also the better
business pointer Of growing tax col
lecttons. Beer led the parade in May,
surprising expectations to turn In
more than I'll 100000, plus several
hundred thousand In special ASSOCIATE
ed levies. At that rate 1t may yield
<2S0, 900 900 q year instead Of the CAL
culated $l50,0Q0, 900.
Stock market activity spurted the
yield from security transfer taxes to
$4,704 900, more than double that for
April.
May receipts In all classes for the
first time we're sufficient to bring COL
lections for the fiscal year past the
receipts Of the previous year. The II
months Of fiscal 1888 yielded 81 $685.
23s, 226 against 81 $50. 734, $50 for 1925
eleven months .