The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-08-05
TRADE VOLUME
HOLDS IN FACE
OF IMPED|MENTA
ForeCaSterS Who ViSioned
Wider Than Usual Sum-
mer Dip Revise Figures.

81 fmfs Special
NEW YORK, Aug. 5.-Despite
threatened political and economic
upheavals abroad and tax up
heavalS at home, Business Week
declares in its issue today (Satm-
day. business on the whole is main
tanning a good pace for summer
months. Forecasters who so glibly
broadcast a greater than seasonal
decline for the mid-year period are
now quietly revising their estimates
upward.
Current stability is all the more
surprising" the review continued,
because artificial controls were
largely removed when NRA ended.
Neither prices nor wage rates have
been slashed. Moreover, the sum-
mer revival hinges largely on dur
axle goOds-steel, machinery. tool
construction. Though retail trade
has been stimulated by warm
weather, such consumer goods in
duStries as cotton textiles and shoes
have found the going hard.
Steel continues to confound OBJ
servers by its steady improvement.
August production opens at A per
cent of capacity, highest since
April. If such activity can be
cOntinued-and the chances are
better than fair-prices may be able
to put up a stiff front. Power
production is still expanding to new
high levels for the year.
Coal Figures Distorted
Successive strike postponementS
have completely disrupted normal
coal production trends. Prior to
the July 81 strike threat, output
was expanding. Postponement at
the last minutes to Sept. 16 leaves
the industry in the grip of uncer-
JaintieS several weeks longer.
"CarloadingS are following the
usual third-quarter trend-slightly
upwarG-but at levels below both
1888 and 1884. Check payments de-
clined sharply from the preceding
week, with Oppressive results in the
Business Week index for the week
ending July 81. Compared with a
year ago, they tell a more encour-
aging story with an Is per cent gain
OF particular interest to those sell
ing in the industrial East are the u
per cent gain over 1884 in New Eng
land towns, and the "a per cent one
in the New York Federal Reserve
district. These regions have long
trailed other sections of the coun-
try.
Rising steel scrap prices in vir-
tually all markets strengthen the
belief that steel will avoid the GUS
tomary summer slump.
Farm Demand Good
Farm implemer& and tractor
plants are still calling for steel. Ma
chine tool makers did a better July
business than they expected, con-
siderIng the exceptional June vol
ume. And most impressive is de-
mand coming from a large group
VI iiIASONAldllCOUo SbGCl COl1SulllSI
whose combined purchases have
contributed so substantially to cur
lent expansion.
Truck sales in June were the best
in over five years. even exceeded
June. 1929. First six months sales
in the United States. based on
registrations, totaled 254,063. a sc
per cent gain over the same period
of 1884. Passenger car sales in the
first half of 1885 totaled 1.461 $40
compared with $685. in the first
half of 1894. a Al per cent gain.
Manufacturing output in June
measured by the Federal Reserve
Board, and adjusted for seasonal
changes, remained unchanged from
the May level at "a per cent of the
1923-1925 average Motor. cement
and tobacco production expanded
more than customary for the period
offSetting declines in textiles, food
products. and feathers. In the first
half of 1885. manufacturing output
was 5 per cent greater than in the
same period of 1884"