The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-05-23
STATE BUSINESS
ABOVE NORMAL,
REPORT SHOWS
|. U. Research Bureau Says
April Curve Approached
Recovery Peak.

For three Of the four months of
this year, the Indiana business
curve has been above normal due to
brisk industrial activity, marked
recovery in building trades and ex-
cellent sales OF new and used au-
tomobiles, according to the Indiana
Business Review which was pub
lished here today by the Indiana
University Bureau of Business Re-
search.
THE Indiana general business
curve moved higher during April
and was within less than a point of
breaking through the recent high
mark of December, 1885," says the
Review.
Perhaps the most notable fea-
ture of the past month was the ex-
cellent showing in the major in
duStrial lines of the state. Steel
mills were operating at new high
levels and pig iron production ad-
vanced sharply from March when
a seasonal decline had been ex-
pected. Electricity production also
was unusually high for the season.
Coal production was the only in
dustrial item of Importance to fall
below seasonal expectations and
even IN this case output was well
above last year"
Pay Rolls Continue Gain
Referring to Indiana enjoyment
during April, the Review explains
that employment and pay rolls
registered their third successive
gain, continuing the gradual prog
resS which has characterised the
improvement in these items during
the last three years. However, the
heavy burden still being borne by
the Federal and state governments
for public works programs and di-
rect relief suggests that considerable
gains in private employment must
still be hoped for, according to the
Review
With reference to agriculture, the
Review points out that the new soil
conservation program was still in
the formative stage Crop reports
indicated and Indiana winter wheat
crop smaller than in 1895, while the
crop in the United States will prob
ably be larger than last year. Prices
of farm products improved some
what during the month with the
important exception of wheat.
Advertising Turns Upward
"Such measures as were available
for retail trade, indicated that sales
volumes were considerable higher
than in March," says the Review.
Department stores in various sec
tions of the state reported substan-
tial gains from last month. Sales
of clothing shops, furniture stores
and hardware stores were likewise
much improved.
Newspaper advertising, a good
general index of retail business,
made better than seasonal upturn.
Bank debts in the various impor-
tant buying centers were closer to
the normal figure than at any other
time in recent months. In the au-
tomobile trade, sales moved ahead
of the previous month in a contra
seasonal gain.
Building activity was still at a
higher level, although the expansion
which began in January appeared
to have halted, at least temporarily.
The valuation of building permits
issued within the month was slight
ly under the previous month. The
index of building activity, based on
the floor space of contracts awarded
in the state, was below normal"
Local Business Sustained
The Review gives the following
report on Indianapolis:
Retail trade during the first part
of the month was we'll above the
corresponding period a year ago and
also above the latter part of March.
There was some slackening toward
the end of April due to unfavorable
weather conditions and buying lull.
Drug store sales were slightly re-
tarded in comparison with March.
Sales of new and used cars con-
tinued ahead Of this time last year.
Bank clearingS stepped up 6 per
cent from March and were Is per
cent increased from April, 1885.
Bank debts increased per cent
and Is per cent from the month and
the year respectively.
Total employment of 500 con-
Germs reporting to the State En-
ployment Service was "a per cent
higher in April than in March. Pay
rolls moved up &c per cent. Firms
reporting weekly man hours showed
gain of 1.9 per cent in this item
Retail trade made the most sub
stantial increase in both employ
ment and pay rolls.
valuation of building permits
was lower than in March or April,
1885, but building activity continued
close to the 1881 level. Newspaper
advertising lineage advanced Z per
cent from last month and IL per
cent from a year ago. Postal re-
ceipts were II per cent ahead of
last year. after Is per cent gain
over March.
Total marketing of livestock in
the local market was practically un-
changed from the previous month
and fell below April last year by z
per cent. Outbound freight car
loadings increased "a per cent from
March, while inbound freight de-
clined slightly. Both were above
the corresponding period last year.