The Omaha guide., 1934-03-17

marked Improvement in some basic
lines smaller improvement in others
and retrogression III only a few. The
business indexes covering the year
present a strange confusing picture.
When the summer upward surge
started in direct opposition to usual
seasonal tendencies it was hoped and
believed that it would continue. An
unlocked for fall drop which was
also opposed to the seasonal exper-
fence of other years followed. Gloom
was deepest at that time. Then bust
ness started up again and December
was a good month. Early reports in
dicate that department store sales
shot up beyond expectations. Com
modify prices were strong. Consum-
y ers' goods industries especially were
active.
In brief 1888 did not see the pro-
gress that was hoped for. The emer-
gency relief measures have been
something of a disappointment TO
even their creators. The Agricultural
Adjustment Act has been particular
ly unsuccessful. But during the year
a start toward recovery was made
and the public morale strengthened
"a strengthening which has never
been more evident than it is now with
1884 opening.
Notes on business follow:
COMMODITY PRICES - In Jan
nary the commodity price index
stood at 81. BY July it had moved up
to 68. The advance has continued
without a major break.
DOMESTIC TRADE - Every eff
fort of the Administration since
March has been given to moving
more goods into the hands Of con-
sumers. 1t has been moderately sue
cessful in the face Of definite con-
sumer opposition to higher prices. OF
late trade in urban areas has been
less satisfactory than in the major
agricultural centers. Most striking
advances in sales have been made by
mail order houses.
EMPLOYMENT - Here is where
the greatest achievement Of the year
has been made. Every month has
witnessed definite advances in both
workers employed and compensation
received Factory employment was
20 per cent higher this October than
last-payroIls 80 and one third per
cent higher. In the non manufactur-
ing industries employment gains
were reported for IL out Of Is in
dustries reviewed. Only in the bit
2 luminous coal industry has there been
J significant late drop and that was
largely due to labor difficulties with
attendant strikes and lockouts.
FINANCE - Generally speaking
excellent work has been done in
strengthening the banking structure.
Banks which were closed before the
moratorium have been opened by the
hundreds millions in frozen assets
have been thawed out Excess re-
serves Of Federal Reserve banks re
Gently reached an unprecedented tot
al of close to S%9O0OOOOOO. Govern
ment credit has been extraordinarily
strong with issues being sold out as
soon as announced,
FOREIGN TRADE Lately Unit
ed States foreign trade has expanded
sharply both in volume and balance
Exports have increased over i'm
ports leaving US with a sizeable bal
ance Of trade. The recognition OF
Russia recently effected is expected
TO produce a considerable initiation
Of our export business
REAL ESTATE-In October for
which complete figures have been IS
sued construction contracts awarded
were with a single exception the best
for any month since November 1881
The industry had a bad year but m
proyement is setting in.
RAILROADS-1932 brought many
railroads to the verge of bankruptcy
endangered others. In 1888 business
was better profits were up. Most en-
~couraging of all to the railroad man
acements is the friendly attitude OF
the Administration.
UTILITIES-Here the experience
was not as favorable as was hoped
Sale of power in many localities mas
risen. But profits have dwindled u
to tax and legislative policies winch
increased costs made it impossible to
meet them by raising the price OF
power to the public. Still another
threat is government competition
AGRICULTURE-The farmer was
cbeered by the AAA when it was
passed. Then he was drastically VOL
emily disappointed. Strikes and dis
order followed. A few months ago
aoricnltural income when adjusted TO