Henderson daily dispatch., 1935-12-31
GENUINE BUSINESS
RECOVERY IN 1885
Year Will Be Remembered
For That, Citizens Bank
Review Says.

| HcIluINC business ICCONtIy DCSAIA '''
1885, and the year will be remembered
! for that said a business review Tor
1885, as issued today by Citizens Bank
| & Trust Company, which follows in
| full:
| Nineteen thirty-five will be remem-
oered as a year of genuine business
recovery.
The wear began with industry and
| trade at lower levels than those Of
! 1884 q year which started well, but In
which a pronounced downward trend
| devcloped in the second half. and
which closed below 1888. In contrast,
| although the first half Of 1885
! brought only minor gains, the last six
! months saw the curve on the business
| chart rise sharply, crossing those for
! 1884. 1888 and 1881, SO that the New
Year begins with business close to
! 1880 levels.
The greatest gains have been those
Of the past two months. Largely in
creased purchasing power. directly
| traccahle to larger industrial pay rolls
I has made Christmas trade the bcd
since 1880, and later figures may
show that it has exceeded the volume
Of even that very satisfactory year
! Holiday sales a"c estimated at more
than $4,5OO.GO0000 and gifts in the
luxury class have been more numer-
Gus than in half a dozen years. Furs,
! jewclry and high priced automobiles
| are selling better than in years. Sales
Of house furnishings show marked
gains. demand having been stimulat-
! ed " the progress of residential
| building. Department store profits arc
{ larger since operating costs, greatly
reduced during the depression, have
| increased less rapidly than have sales.
The reasons for these gains arc to
! be found in the reports Of industry
| Production or electric current has
been reaching new all time highs
week after week. Steel production has
| h"cn increasing stcadily since mid
/ SUMMER as the result Of sustained au-
| t0motiYc buying and larger orders for
| structural shapes. Total tonnage is
expected to reach 33340OON 9, 600, 600
! tons more than the 1894 total aud on
| ly 6.000,00O tons below the total for
1881
Strikes and tn" threats OF strikes
have made tn" output Of soft coal IL
regular indeed but the year ended
! with production above 1881 levels and
| still gaining. The cut of lumber is,
| declining. although still larger than
! in four years past. Car loadings arc
| showing their normal seasonal de-
| line. Railroad earnings have been
| distinctly better than in 1884.
Corporate earnings for the fourth
! quarter will be the best since 1880
showing marked gains over 1884 and
! 1888 when business activity fell off
ate in the year. Earlier introduction
Vt new automobile models was in
| some measure responsible for this
| gain, and it is too carly to guess how
'eXt years business will be affected
For the first year in a decade resi-
4cnti1l building construction showed
= gain over the preceding year The
Mountain States made the best show
ng, with the South Atlantic section
ccond. and the East North Central
bird. Detached dwellings, dominated
he field but there was q strong re-
VivAl in the apartment field. partj-
cularly gratifying is the fact that tho
! bulk Of the years building has Deen
| privately constructed and financed.
determination and repair work was
rreatly encouraged by federal policy.
The public works program continues
lag. but Washington expects sub
stantial progress in these next
months.
Automotivc production for the year
! is now rcckOned ut 4.150OOO units
the best since 1920, and As per cent
| above the 1884 total. Trucks set q new
! high in the fourth quarter. Export
| sales of American cars reached a
total of $4,000 for the year. a gain
of 20 per cent.
| Commodity prices rose through the
wear. and rents and living costs with
| hem. They are now about midway
| between the low of April 1888 and the
| high Of November 1929. Individual in
| "omes-and income taaX rcccipLo-fn-
| creased, but the number Of very large
Incomes was substantially reduced
Income and liquor tax receipts in
creased during the year. whereas fed
eral expenditures ran slightly below
announced estimates. Government
bonds, although lower than a year
ago. arc still above par, and recent
Treasury financing has been alto
gethcr successful. Utility. industrial
and railroad bonds are all up, even as
is the general level Of stocks. Life
insurance sales, which Jagged in the
| middle Of the year, are increasing
again. Assets Of insurance companies
increased by more than $1,35O,OOO, 900
during the year.
Cotton and tobacco are cheaper
than a year ago, the former because
of shrunken exports and the latter by
reason Of larger crop. Wheat is up.
The Department of Agriculture has
modified it's crop control policy and
shows a disposition to encourage pro
duction Of food and feed stuffs
The New Year 1886 promises well
American business is agreed on that
If Europe can keep the peace, the
next twelve months should see con-
tinuinS and accelerated progress
T-~ RY--~