Henderson daily dispatch., 1938-10-28

lean expenditures on defense. Read
ers may get some idea of what this
sum to be spent on ornaments means
when / tell them that the armament
industry next year may reach third
of the size of the building industry
one of our five biggest businesses
Purge Failure, Significant
3. The failure of President Roose-
velt's purge" means that the voters
are beginning to think again. Com
ing on top of the defeat of the Su-
preme Court bill, the purge fiasco j
giving business. men new, hope. 1t has
shown President Roosevelt that he
must run the New Deal on a more
friendly basis to America industry.
q. Prospects for peace in the utility
industry are bright at the moment.
This industry has before it deferred
repair and expansion needs amount
ing to So 000,000,0O0. Now, with bet
ter feeling between the utilities and
Washington, / expect to see a start
made on this huge building program.
Furthermore. hope. this power peace
will mark the end Of the name-calling
contest between government and bust
ness.
5. The Munich pact was the most
optimistic news in many a day. It re-
arranges the natiopSiso that war could
take place in Europe without involv-
ing England, France, or the United
States. Of course, peace is vital to
lasting world prosperity. Furthermore
the Munich settlement may result in
an upturn in foreign trade which is
SO greatly needed at this time
Railroads Come Through Again.
6. The railroads have weathered an
other: crisis. Carloadings are back to
within Is per cent of where they were
a year ago. Operating expenses have
been slashed drastically. The carriers
now have a better net income than
they had last October. After almost
a complete absence of buying of steel
and other materials, the railroads will
soon add their orders to returning
prosperity. Furtherf5ore, there will be
no general railroad strike this fall.
z. The farm situation is not so bad
as current prices for wheat, cotton
and corn Indicate. A farm dollar to-
day will buy what it took $1.10 to pur-
chase year ago. So while dollar in
come is off IL per cent, real buyinc
power is off only six or seven per
cent. Moreover, in the big milk and
poultry businesses, prices are fairly
good and feed costs. are favorable.
8. All Of the country's five major
Industries building, motor, textile,
mining, steel-are on their way up
ward. Building is in the roidst of i+~
recovery cycle. Textiles are about to
begin their. bi-annual boz sa.
makers are ready for the new model
season with empty show-roorns. D.
mand for all metals is increasing
Steel operations arest sing weekly @
Financial News Buiii:sh.
9. Financial news is mostly good |
Credit reserves, the largest IN our his |
tory, could allow credit expansion
$25O,0O0,OO0 900 compared with an ac-
tual figure of $4,000 100000 at the
'29 peak. Bank deposits are rising.
Most important of all, commercial
loans are now beginning 10 expand
for the first time in a year. further
more, foreign investors are aSain look
ing to the United States ana canaoa.
10. Increased security prices, IN
themselves, are adding momentum 10
the inward surge. Since June ! Sc
curity values have swelled $lo,UoU,OOO,-
900, or almost three times as much
as the last Congress appropi,,s,a..eu ia 70
pump printing prosperity. IN
rease in values cannot help put BOOST
business, just as year aso 80 ssHSs
IA