The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1937-07-01
UNREST HURTS
PROSPECTS OF
.EMPLO YMENT
Call
Before
Noon

RICHMOND, Va, July l. CUP
Prospects for employment in the
fifth federal reserve district are
reduced and the outlook is less
favorable than it was six weeks
ago because of local strikes with
IN the district, the Federal Re
serve Bank of Richmond reported
yesterday.
1.-THE labor situation in the fifth
district continues unsettled oil
account of strikes which have oc-
Cured in many localities in the
district" the banks monthly re-
view of business, labor and agri-
cultural conditions said.
"These disturbances were chief
ly local in character, but the psy-
Geological effects have been un-
fortunate and the rate of in
crease in employment has slowed
d own materially. Prolonged
strikes in other sections of the
nation are beginning to affect
workers in the fifth district by
re ducing demand tor industrial
products manufactured in the dis
trict.
Events Of the past few weeks
appear to have reduced prospects
for employment in industry in
the near future and the outlook
is less favorable than it was six
weeks ago"
The fifth federal reserve dis
trict includes North and South
Carolina, Virginia, West Virginia,
Maryland and the District of Co
lumbia.
Business in the district during
May and the first quarter of June
moved ut u slower rate than in
the first quarter of the year," the
review said, but remained above
the volume of business done 4
year ago.
Part of last months slowing
down was seasonal but there were
other adverse factors at work.
Employment conditions were dis
turbed by strikes and there APP
pears to be a tenSeneSs between
workers and employers in a num-
Der of industries" the banks re-
port said. $3.50.
1.-The commercial failure record
in the district was better in May
than in a year ago, but there were
more insOlvencieS than in April
this year. Sales Of new passenger
automobiles in May showed a
smaller increase oyer May last
year than earlier months this year
showed, and fewer cars were sold
last month than in May, 1886,
in the District of Columbia and
West Virginia" " =. $500,
Construction work in cities and
suburbs "held up well" in May,
the bank reported, but there was
less building in rural sections. OF
the district, "due chiefly to a
decline in publicly-fnanced prof.
ects."
The bank said coal mining was
As per cent above May, 1885,
and that cotton textile mill activ-
ity in the district slowed further
in Mays production which ex-
ceeded new orders cut down the
backlog of untitled orders"
Cotton prices, in the face OF
a prospective increase in yield
and reduction in mill demand,
declined further late in May and
in early June.
"Retail trade as indicated by
department stores sales was only
about four per cent larger IN
May than in May last year, and
wholesale trade while in the ag-
gregate larger than a year ago,
compared less favorably with
trade last year than in most re-
cent months.
"The outlook for agricultural
production at the middle of June
was much better than year ago,
but the price situation was not
so favorable. Except for tobacco,
which has been seriously damag-
ed by blue mold, crop prospects
are notably better than a year
ago.
eff price declines are not too
great, farmers will experience a
satisfactory year.
weather early in May was too
cool for best crop development;
but the second half of May and
early June witnessed warm TEN,
peratures, and crops improved
materially in nearly all sections
of the district"