The Washington times., 1936-01-15
TT AYTXT Steel Production Rose Quite
III "A ~ IL Y Sharply; N. Y Employment
AA4 ~ y - - Figures Are Measuring
By LEWIS HANEY

is now available will therefore consider the showing made
last month in the light of figures.
In the first place. steel industry turned in
favorable showing The average daily production of steel
ingos rose quite sharply and after making allowance
for seasonal variation and longerm trend up figure
it at 744 per cent of normal against III per cent in
November. This is the highest rate since July, 1885, and
with that exception since August, 1880
Pig iron production decreased little but not much
usual in December the adjusted index At 703
per of normal" it compares with 699 in November
and is the highest since October, 1890
The only question whether the volume of
bile production is the of this showing and whether the
motor producers keep up their pace Perhaps the slight
decline in blast furnace activity in December suggests little
slowing
Steel production however but little out of line with the
Dictated requirements of the chief Any let
down in activity therefore, promises to be but temporary
The New York State employment figures reassurng
There slight decline in the number Of factory employees
but only about usual for the season The number was 76
per cent greater than year ago.
And factory payrols in this State actually increased
per cent and 143 per cent larger than in December
1884 This clearly indicates that employees getting
nearly full time work. and thus making better weekly earn
ings.
That the way for both employer and empoye to bene
tit by recovery
Accordingly department stores did good volume of bust
December The Federal Reserve Board reports that
48S the country had sales which equad
"a per of the for 19235 This with
81 per cent in November and is about per cent greater
than year ago.
The gains, widespread ranging from per cent
IN st. Louis, to per cent IN Atlanta and chicago.
On the whole price to have had to do with
the increase sales during the year than quantity of
chandise. Retail prices higher, and hghprced
merchandise Sold
One of the for the rather favorable statistical
showing in December is found in the increase in building
activity. This great industry continued its upward climb.
Building permits usually rcede in December but last month
they gained considerably The adjusted index the highest
since October 1881 1t is nearly twice high
ago. Apparently construction contracts actually awarded
made similar showing with residential contracts promi-
nent.
gain in building quite general throughout the
try
is notable that railway traffic turned up distinctly and
since 1881 figure the volume of freight tonnage at about 60
August 1881 1t compares with about SO per cent in November
On the other hand commodity prices irregular in
December and closed the month little lower than at the
beginning bill Of goods that cost $104 at wholesale
December priced at $10S.60 January 1.
Of course this indicates that the demand for goods not
quite equal to the supply The increased quantity coming to
market had to be sold at little lower price Accord
angy my PV Line barometer registered small decline.
Usually this would suggest reaction IN business
activity, requiring readjusment in production. Under
present conditions, inclined to interpret the
result of political uncertainties which temporarily holding
initiation in check.
We in position where will probably have to go
schedules and prices up Then business activity and
ducton be inflated along with prices and will ENJOY
Q sort of 1929 prosperity again.