Evening star., 1940-07-01
Business Continues
AT High Level in
Fifth District
Nearly All indicators
Register Advances
During May
By the Associated Press.

6y the Associated FreSS.
RICHMOND, Va, July 1.-The
statistical department of the Rich
mond Federal Reserve Bank report
ed today that May witnessed a con-
tinuation Of business on high
level in the fifth district with near
ly all indicators showing advances
over April and also over May last
year.
The war in Europe has increased
activity in certain industries and
localities, the bank stated. but the
fifth districts trade was said to be
largely domestic and the war has
influenced business less in the dis
trlct than in some other sections
OF the country.
Department store sales in Nav
were up 4 per cent above sales in
May, 1889, and a representative
group OF furniture stores sold Q
per cent more last month than in
the same month last year
Auto Registrations Up.
The number of new automobiles
registered in the district in Nav
rose 19 per cent above registrations
IN May last year. Checks drawn
against depositors' accounts in Is
cities Increased 16 per cent in
amount last month over the same
period last year.
cotton textile mills, the bank re-
ported, continued operations in Nav
al ABOUT the same level as in March
and April, but sales were slow dur
Ing the month. However, demand
1or cotton cloth and yarn rose in
the flrst half of June, and prices
recovered most of the decline which
mad occurred in May.
Rayon yarn shipped was % per
cent above shipments in May, 1889
ou' production was still larger and
consequently reserve stocks of warn
rose 4 per cent during the month
reserve stocks of rayon yarn are
quite small, however, being only
TWO weeks supply
employment conditions in the 5th
dlStrlct were better in May than in
May last year, and probably showed
Improvement over April, although
changes in the past two months were
relatively small. Coal production
figures indicate that employment
was up about per cent in the coal
teids over April. Ship building in
lhe Newport NeWs-Norfolk and
baltlmore areas continues at a very
nigh level, skilled men being in de-
mand at Baltimore for work on air.
craft.
Bltuminous coal mined in the dis
trlct last month was above seasonal
tonnage, and was three and one
halt times May, 1889, production.
during which month 5th district
mines were closed two weeks by a
labor dispute.
looacco manufacturing in May
was higher than in April, but was
shghtly lower than in May last wear
Tor all products except cigarettes.
Construction Jumps.
construction work provided for in
May exceeded that of May, 1899, by
a substantial volume. Building per-
mits issued in 81 cities rose 10 per
cent in valuation over permits issued
last May, and contract awards rose
"a per cent this year. This rise in
construction projects provides addiIs
tlonal employment, according to the
bank report. for both skilled and
unskllled labor in the building
trades, and in nearly all lines en-
ployment was seen as better than
a year ago.
Agricultural prospects in the 5th
district improved during May, espe-
clally in the latter half of the month.
when warm weather and rain stimu-
lated plant growth. Wheat pros
poets improved distinctly, fruit
proved to have suffered less from
late freezes than had been thought
earlier, grasses in pastures and hay
fields developed rapidly, and the
weather was favorable for potatoes.
However, all crops were reported
still late, and on June corn plant
ing had not been completed in the
upper half of the district.