The Omaha guide., 1935-02-23
NEWS LETTER TO statesmen

NEWS LETTER TO statesmen
Industrial Production in December
rose to IS per cent Of the 1923-1925
average which is the highest level for
that month since 1929 according to
the Federal Reserve Board Bank de-
posits made large gains and bank
failures were recorded at Sc, the low
est since 1920.
Steel Trade Activity continued ex-
pansion according to Iron Age. The
! current rate of operations is estimated
at 56h per cent Of capacity against
81 per cent last week. Mills produc-
ing automobile steel are virtually op-
Grating at capacity. The output Of
pig iron in January showed an in
crease of 1873 per cent over the De-
! cember average.
The automobile industry speeds to-
ward recovery at 60 m. o. h. without
fear of getting a ticket. Retail sales
for new passenger automobiles ac-
cording to the Bureau Of Foreign and
Domestic Commerce, were 33 per cent
higher in the year 1884 than in 1888.
and for the month Of December 1894.
81 per cent over the corresponding
period Of the previous year.
A large steel corporation is reported
to have restored salary cuts which be-
came effective last September through
the omission Of Saturday work. The
workers can thank the better business
situation for this return to paw nor
malcy.
Banks suspended in 1884, accord
ing to the Federal Reserve Board.
were fewer than in any year since
1920. The. number of unlicensed
banks at the close of last year was
approximately 19O-a great reduction
from over $500 banks unlicensed %
months ago.
Restaurants. dairies, and food
stores have attained the highest de-
gree OF immunity to failures. The
National Industrial Conference Board
l n a recent study Of failure rates in
retail establishments records that an
proximately 6 out Of 1000 restaurants.
Z out OF every 1000 diaries and food
stores, and a total of ID out of every
1000 retail establishments fail each
Year. Business failures were recorded
at 268 for the week ended February 2
according to the Bureau of FOREIGN
and Domestic Commerce. The com
parable period Of last wear showed
3O5 failures.
An increase Of $3.50 freight car
ioadlngs for the week ended January
~ over the preceding week has been
reported by the Association of Amer
lean Railroads. Sharp increase in
miscellaneous freight, coal, forest pro-
ducts and coke loadings did their mart
IN bringing about the total rise for
the week.
New residential building nernits
were the leading factors IN increased
building operations during the month
Of December. According to the RI
eau OF Labor Statistics, figures based
On reports from 764 cities with 10000
or more population, show a total of
$40 per eent increase in building or
tlV1ty in December 1884 over the cor
responding month of 1893.
Chain Store Age states that Decam-
Der trade among its subscribers
reached 9s-5 Of the 1929-1931 average
ms was 8 points higher than il De-
cember 1888, Variety stores had 4 ner
cent more sales in December 1924
than in December 1888, according 70
the Bureau Of Foreign and Domestic
commerce. The Alexander Hamilton
Institute estimates that the value of
department store sales in 1884 was
10 per cent higher than in 1899.
wholesale prices are now 9 Der cent
higher than they we're a year ago.
a sharp" reversal in normal trends
during December and the fist 8 weeks
IN January has given factory employ
ment and general industrial produc-
ton more than normal seasonal in
creases, according to the Federal Re-
serve Board. In December, its index
OF business activity advanced to IS or
IL points higher than in November.
1t is often asked what per cent Of
the business firms dollar goes to the
~wage-earner. The American Iron and
Steel Institute reports that 43 cents
out Of every dollar realized from gross
sales between 1880 and 1888 was paid
out as salaries ahd wages. In 1929.
the peak year Of the boom, the work