The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-10-08
BUSINESS CAIN
PREDICTED FOR
LAST QUARTER
Steady Expansion of Trade
Expected to Extend
Into 1885.
By Times Special

By Times Special
NEW YORK. Oct. 8.-A growing
confidence that the worst days Of
1884 have passed and probability
that the last quarter will see a slow
but steady expansion of trade con-
tinuing into 1885, is reported by
Business Week.
The maritime strike that threat
ened to break this month has been
avoided" the publication continues,
and the prestige of the PreSiden-
tial Office has been thrown into the
balance for a truce in industrial
strife. The executive order reducing
hours and increasing wages in the
cotton garment industry has been
postponed until Oct. Is when a Spe-
cial board shall have reported its
findings to the President for final
! decision.
This holds of a break in that
major industry and indicates that
the administration is willing to lend
an ear to manufacturers protests.
The Presidents stress on the
place of private initiative and OPP
Grafton of industry was intended to
reaSSure those who view each en-
croachment of government under the
guise of the present emergency as
threat to their own existence.
| Nevertheless. the role of government
regulation of industry is not being
abandoned.
NRA to ReOrganize
NRA is to be reshaped and pre-
sented to congress for permanent
sanction. In its reorganization, bus
mess opinion can exert an influence.
The President is continuing the
conferences with leading business
men begun at Hyde Park. getting
their opinions and suggestions.
while the boards established to
control the NRA machinery follow
ing General Johnson's resignation
are not altogether acceptable to bus
mess, which had been led to expect
a greater representation, they are
believed to be reasonably satisfac-
tory. Activity Of the policy board
headed by Richberg should be
watched closely.
1t is expected to consider the
troublesome problems of price con-
troll, production limitations, to pre-
serve the best features of the codes
and eliminate the bad, to co-ordi-
nate the often conflicting actions
of the New Deals many alphabetical
organizations. 1t is likely to pro-
mote greater competition.
Decline in industrial production
in August to 70 per cent of the 1928
1925 base was a result of decreased
activity in steel and automobile
plants. September may see a fur
Their slight drop in the index due to
the textile strike influence, but the
last quarter promises to turn upward
again.
Employment, PayrOlls Up
This decline in production is Offset
by other favorable factors, includ-
ing the rise in manufacturing en-
ployment and payrolls, in retail
trade, in farm income, and a further
drop in commercial failures to the
low of the year.
Rains in recent weeks retarded
retail sales somewhat, but the mar
gin over a year ago will still be SUBJ
stantial. Consumer buying consti-
tutes the most encouraging factor
on the horizon. In the west, rainy
weather has relieved parched fields
and made good forage crops. Cash
farm income in August totaled $572,-
100000, the highest Of any month
since January, 1881.
With September and October the
peak months for marketing, farm
ers will have even more cash in
their pockets this fall The first
months result totaled S3,600,000
| AGAINST 90 QO0 O0O mn last year