Henderson daily dispatch., 1935-05-04
BUSINESS REVIEW
IS GIVEN BY BANK
Finds Work-Relief Money
Already Influencing
Trends Upward.

The following review of business
was given for publication today by
Citizens Bank and Trust Company:
Passage of the Administrations
Work Relief measure has already re-
orders, mostly to the automotive and
equipment trades. but other lines of
business are responding.
Washington dispatches indicate that
of the four billion dollars appropriat-
ed for work relief, $50 percent will
go for materials, supplies, machinery,
TRANSFORMATION, etc, and All percent
for direct labor. ALLEGATIONS have been
made as follows. highways and grade
crossing elimination, 800 millions;
rural rehabilitation 300 millions: re-
clamation and irrigation, 200 millions;
rural electrification, 100 millions;
housing, 450 millions; white collar"
projects, 300 millions; Civilian Con-
servation Corps, 600 millions; foresta-
ton, flood control, prevention of soil
erosion, rivers and harbors, $50 mil
lions; public ownership of utilities,
900 millions.
ApriI gains have brought power pro-
duction to new high for the season.
Orders and shipments of lumber con-
tinue to expand but the demand still
exceeds the cut. Soft coal output,
which fell off shaply early in April
when the threat of a strike was re-
moved, lis increasing rapidly again.
Steel mill activity is increasing, with
the demand for structural shapes par
ticularly good. Automobile and tin
plate demand continues at a high
rate.
Industrial employment is growing
steadily in heavy industry as we'll as
where consumer goods are concerned.
Retail business was good even be-
fore Easter, March and early April
sales running to an encouraging vol
ume. Now it appears that the post
Easter spring trade will exceed that
which came before the festival April
sales have been at least 10 percent
greater than those of a year ago, in
spite of the fact that unreasonable
weather held buyers back. The chain
and mail order companies report gains
Of eight percent or better. Rural mer-
chandise sales wereu p Is percent in
the first quatrer Only in the variety
stores Is cents to $10O) was the show
ing less favorable than in 1884. The
money represented by longer pay rolls
is finding its way into the stores with
out delay, and the larger sales mean
still longer pay rolls.
April production Of automobiles and
trucks reached ATE, 900 as against 447,-
| 900 for March. May is expected to see
| 400 600 more come off the assembly
lines and June perhaps 325,0O0. The
wear is proving a much better one
| than the makers had anticipated
Sales are holding up surprisingly well
During the first three months of 1895
passenger car sales totaled SAT, 900, an
| increase of 66 percent over the cor
responding period last year Truck
sales reached 100000, up 81 percent
over 1884. When it is remembered
that the automotive industry is the
countrys largest user of gasoline, rub
ber, steel, malleable iron, mohair, up
holstery leather, lubricating oil, plate
glass, nickel and lead the Importance
of these sales to every line of bust
ness becomes readily apparent.
The securities market has made rea
gains during the month past, Apri
financing having approached tota
OF $3.50, 1000, OO0-the largest volume il
three and one-half years. March fin
ancing was $249,0O0,OO0.