Evening star., 1934-09-22
UPTURN EXCEEDS
BUSINESS HOPES
Sharp Expansion Expected
to Come Later Than
Usual in Fall.
Special Dispatch to The Star.

opeClhI DlSphtCn 10 Inc SLar.
NEW YORK, September 22.-"Busi-
ness sentiment generally seemed
brighter this week, and the Fall out
look is apparently better than many
had recently predicted" Business Week
declares in its issue today. There are
signs" it continues, that Fall bust
ness is getting we'll under way, though
sharp expension will come later this
year than usual Retail trade, so far
this month, is following along the up
curve started in August. Conditions in
the steel industry are better. Steel
operations advanced, partly the result
of manufacturers efforts to build UP
depleted supplies in anticipation OF
Fall business, partly through some
what increased demand from miscella-
neous customers and small f1ll-in or
ders from automobile concerns. The
textile strike, now entering its third
week, is still the most important factor
on the Eastern coast.
Steel Activity Rises.
AFTER a seven-week steady decline in
operations, steel gained for the second
consecutive week and is back at the
level attained in the middle of Au-
gust. Trade observers favored the
belief that this marked II beginning
of the anticipated uptur.l There was
a small increase in miscellaneous or
ders for steel and pig iron products
eI v1cfn Iv1
schedules still awaits large orders from
the automobile industry, which may
not materialize until the middle of No
vember. No important demand from
the railroads is looked for during the
next few monthe unless new program
of Government projects is launched
in this field. However, the industry
may receive earlier impetus from the
increase in Government-financed con-
struction work, and several large public
projects are now maturing.
Engineering awards for the first
few weeks of September have beer
steadily climbing. Engineering News
Records total of $27,945 900 for the
week ending September 20 showed ar
increase of 18 per cent above the
previous four week average and gain
of IS per cent above the average week
so far this year. The increase above
the preceding week was mainly due te
the rise in highway jobs.
Total construction contracts award
ed in 81 States for August were valued
at $120, 1858, 500, according to the F.
w. Dodge Corp. This was somewhat
higher than originally expected. II
represents a slight gain above the
July total and one of 1875 per cent
above the corresponding month last
year. While the daily rate of resi-
Dental building construction awards
was somewhat higher toward the end
of the month, total awards in this
division declined both under last
month and under year ago.
Employment Increases.
''The months pickup has carried
employment and pay rolls in manu-
featuring industries above the pre-
ceding months levels, according to
the United States Bureau of Labor
statistics. The gain above a year age
was not as large as in the earlier
months of this year, due to the fact
that August, 1888. employment and
pay rolls were boosted by last Sum-
mer's "pre-inflation" push. Non-dur-
able goods industries showed the
largest gains. Seasonal increases oc-
CURED in the textile, food and leather
groups. Job totals in the durable
goods industries declined slightly un-
der the preceding month. The gain
in factory employment, estimated at
approximately $4,000, was partly of :
set by the loss shown by the non
manufacturing industries, which left
a net pickup of only $4,000 employees
The largest decrease in the latter
group was in the anthracite mining
industry Reason-labor difficulties.
Total loading Of revenue freight for
the week ended September was cur
tailed by the Labor day holiday, but
indications point to a resumption in
loadings which will approach the last
years showing and may top the total
of 645, ,780 cars loaded in the week
Immediately preceding the holiday
the peak of the year. All classes OF
commodities dropped during the week
Total coal output for this holiday
week declined, but on Gaily basis
reached the highest level since March
The daily output has been advancing
steadily since the lows of several
weeks ago. It already represents a
gain of % per cent above the August
low and the spread from last year is
rapidly narrowing"