The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-07-10
Trends
Living Costs Again
Register Decline
During Month
BY VINCENT LYONS
Times Financial Editor

- NE COob OF living VI 4luuNAl lol
Il wage carers. a figure which had
mounted uninterruptedly from De-
cember OF last year to April this
year. declined in June after show
ing a similar trend in the i'm
mediately preceding month. accord
ing to the monthly survey which
mas Just been released by the Ma
tionsl Indus rial Conference Board.
The cost of living of this par
ticular class slumped OF per cent
from May 10 June: which means
that the workers in industry could
purchase more with their wages in
June than they could in the pre-
vious month. Stated another way,
the purchasing power OF the in
dustrial workers dollar increased
o. per cent during the month.
II may come as a distinct sur
prise to the families OF some work
ers to learn that each OF their dol
lars is worth 20 per cent more in
purchasing power than it was in
the flush Of prosperity back in
1929. The purchasing value Of the
dollar in June was computed at
1909 cents. contrasted with but
1903 cents in 1929
FAILURE Of working people to
Il realize their improved position
as compared with 1929 is due to
the face that they give considera-
ton to Only a few Of the compo-
nents which make up the full cost
of living index. For instance. the
ascent OF pork and other meats.
induce by the drought and the
governments Strengthening cam
paign. has tended to blind them
to the sharp recession which has
occurred in rents, fuel or other
items
Significantly enough, the widest
decline Of all groups was made by
foods. the largest item of expense
in abe family budget. The recess
sion in food prices was IL per cent.
The performance of this group,
however. has been very Eighty as
the June inde~ lumber of 842 per
cent 1922 as 100 was Is per cent
higher than in June, 1884; 272 per
cent higher than in June, 1888, and
2O.6 per cent lower than in June,
1929.
Only two of the nine groups in
the compilation displayed an in
crease during the month. Rents
resumed their upward tendency OF
recent months and pushed ahead
0.4 per cent from the preceding
month. They are now 81 per cent
ahead of a year ago, 1913 per cent
above two years ago and 20.6 per
cent under June. 1925. The cost
of sundries rose o. per cent from
May to June, due largely to the
fact that cigaret prices have moved
forward.
NEW YORK CITY bank stocks
IN have been pushing ahead ag-
in value in the overtime
counter market during the last
few days. The move is a result
of the liberalization of the omni-
bus banking bill, with particular
emphasis being placed on that
amendment allowing banks to re-
sumo their activities in connec-
ton with the underwriting of new
security flotationS.
Bank stocks had been lethargic
for a long time. The recent i'm
provement in quotations is natural
when 1t is remembered that at
present profits are meager because
have been scarce and
those available offer little yield
1t will be recalled that in the
good old days" large share OF
banking company earnings came
IN connection with the flotation of
securities.
The appreciation which has
taken place thus far has been
marked and undoubtedly, in some
instances at least, discounts sew
eral months operations under the
revised bill AS a matter of record
the measure has yet to be passed
by the full Congress.