The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1937-11-11
ECONOMIC HIGHLIGHTs

ECONOMIC HIGHLIGHTS
The cyclonic disturbances in tn
stock market have detracted atten
ton from business production ant
activity induces. A security collaps,
that, at the bottom, wipe out value
to the tune of some $4,000, 900 90,
has been far and away the majo
domestic occurrence of 1897. At thi
writing, majority of economist
seem convinced that the worst O
the debacle is over. A very large
proportion of margin dealers wer,
wiped out in the break. AS Business
Week puts it, There is a limit tt
every downward spiral, and thai
limit seems to have been approach.
ed in the present situation"
So far as industrial production i!
concerned, there has been a sub.
stantial drop but the drop was no.
where near as severe as the drop ir
stocks. In two months, shares as q
whole went down SO percent, de-
Ginning to the late 1885 level, though
not to the lows of 1892. In the same
period, business activity dropped a
little over 9 percent.
A few industries notably steel
will not, in all probability, recover
much Of their recent losses in pro-
duction for considerable length of
time. Most industries, however, hope
for good winter and spring BUSH
ness. The prediction is that this
years Christmas buying will hold
up well.
Some specific business informa-
ton of interest follows:
COMMODITIES: Dropped in
value along with securities, but to
much lesser extent. Belief is that
the trend in the future will be slow
ly upward.
POWER AND LIGHT: America is
constantly becoming more complete
ly electrified with the utility indus
try's output holding to high level.
New power production records have
been constantly recorded. The in
dustry's net earnings, however, re-
main at practically the 1892 level,
due to greatly increased taxes and
higher fuel and material costs. It's
political troubles, such as Federal
competition, have not been abated,
and retard its normal development.
RETAIL TRADE-Has held to a
high level throughout the country,
substantially surprising the same
period In 1886. Slightest improve
ment-3 percent occurred in
New York. Agricultural buying is
heavy.
CONSTRUCTION: The rise in
building costs has at least temper
arily stopped. AS result, contracts
let have been rising.
COTTON: This seasons exports.
have been about 10 percent ahead of
last seasons. Domestic consumption
has been satisfactory, though not
startling. Raw cotton prices have
been firm.
AGRICULTURE: The farmers
cash income this year will be the
largest in many years, and may
touch $10.000,0O0OOO. The special
session Of Congress has been called
to consider additional farm-aid laws
Of permanent rather than an emerg-
ency nature. Thus, farmers as a
whole are in an unusually happy po-
Eition.
LABOR: The peace negotiations
between the A. F. of L. and the CT.
o. have, as was anticipated, appar-
emily broken down completely. Fur
Their inter-labor warefare thus
seems inevitable. Also inevitable
seems more labor demands for
higher wages and /or shorted hours,
TO be supported by strikes If en-
ployers refuse.
AUTOMOBILES: It is impossible
TO exaggerate the Importance of this
industry, which accounts for nearly
Is percent of the national income |