The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1938-12-01
Economic +. . .
eMhA!hA

AS we approach lne SliiiSIiloo
season, business continues its march
forward on practically all fronts. 1t
is true there have been some sharp
|reverses in the security markets OF
late, but they have been due, not to
the business situation, but largely to
the severely strained relations between
this country and Germany-an i'm
Imensely serious matter whose end is
not yet in sight, and whose ultimate
|effect on commerce and trade cannot
now be accurately forecast.
A glance over the complete figures
for October shows it to have been a
very good month in almost all lines.
In some, it was exceptionally good.
This same favorable trend extended
into the first three weeks of Novem-
ber, and there seems no reason why
lit should change in the near future.
One of the best signs is the fact that
rise in demand for certain basic prod
ucts, such as steel, has been material
lily greater than the rise in production.
This indicates that further gains in
activity may be confidently expected
before long. And, of equal import
iance, the inventory situation, which
was extremely bad last spring, is
steadily improving.
1t is obvious that the anti-adminis-
|tration gains in the last general cleo
ton have pleased and heartened a
large segment Of business, which has
been worried and afraid of what it
considers New Deal extremism. 1t is
almost unanimously forecast that the
next Congress will be highly conser-
vative, in comparison to it's immedi-
ate predecessors, and that the Presi-
dent will be forced to compromise his
reform" program.
Some briefs of interest follow:
CONSTRUCTION: Building in Oc-
tober touched the highest peak in a
number of years.. Unusual activity is
found in the residential field. Future
steady improvement is expected here,
and also in industrial construction.
ELECTRIC POWER: Output is at
good levels for the season. The utili-
ties new expansion program is slowly
getting underway. The apparent
"truce" reached between this industry
and the Administration is an en-
couraging factor.
AGRICULTURE: Is still COM
'paratively dark spot in an otherwise
Frightening economic picture. AS this
column has observed before, the gov
lernment's farm program has suffered
practically complete collapse. On the
other hand, farm income for the year
will reach fairly good total, and no
"crisis" in agriculture is to be eX-
lpected.
PRICES: Commodity prices have
been strengthening, but most authori-
ties regard them ds-baing still too low
in the light of the gains in industrial
activity. Gradual rises over consid-
cradle period of time are anticipated.
RETAIL TRADE: Is improving in
most sections of the country, along
with purchasing power. Many stores
are revising their buying programs
in the belief that sales will be sub
stantially greater this winter and
spring than seemed possible a few
months ago.
/ TRANSPORTATION: Railroad car
Ioadings are tending upward, but the
industry's financial position remains
almost as precarious as before. Hopes
are pinned to large extent on pos
sible congressional action to alleviate
some of the lines troubles.
1t is an interesting and important
fact that no one seems to expect re-
covery to attain boom proportions
Most experts think that the rate OF
improvement will be comparativel!
slow-that we are in a steady, long.
pull trend.