The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1940-04-04
Economic f. i.
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are literally qualified with "ifs,"
"ands," "buts" and con the other
hands" For the trend of business ac-
tivity generally is quite different than
was prophesized a few months back.
The spring slump was expected.
What was not expected was it's sever
ity-worst in our recent history. On
top of that, the expected signs of bet
terment have not appeared in particu-
lar force. War buying is an import
ant bullish factor in only a limited
number of industries. The result is,
according to Paul Mallon, that the
guesses of even the government ex-
perts "run on the pessimistic side"
The Federal Reserve Board index
of industrial production, which came
close to the 130 mark during last
winters sharp upward movement, fell
to around 1O4 in March. And the fore
cast is that it will drop to 100 and
perhaps below by the time May ends.
Then, the forecasts continue, new
upturn should set in, but few are will
ing now to gamble that it will be as
strong, as steep or as long-lived as
was forecast two or three months ago.
Some business briefs of interest fol-
low:
STEEL: There was a contraseasonal
decline in production lately. And that
leads to the belief that a contra
seasonal rise in production may be
Expected soon, due to the fact that
production has been tagging behind
consumption. Daily February output
was about $4,000 tons, whereas daily
consumption in the same period was
10000 tons.
LUMBER: Demand has been fairly
good, and operations have been at
about the expected level. Orders for
hardwood flooring have been especial
| ly good.
CONSTRUCTION: Has shown mod
crate increases. Summer almost al
ways brings substantial new building,
and that is expected as usual this
year. Big activity is still in the resi-
Dental field, due to FILA guarantees
of heavy loans to the builder. How
ever, betterment in non-residential
building is also anticipated.
ELECTRIC POWER: Output is
high, and the industry, according to
reliable reports, plans on considerable
year. This industry's biggest problem
is still political, as it has been for
years.
WOOL: Prices are expected to de-
cline somewhat, inasmuch as imports
have been excessively great. The high
level Of recent consumption has been
exceeded by supply.
COAL: heea.,tremely cold winter
and early spring weather caused con-
sumption to be high. A sharp decline
is to be expected now. 1t will prob
ably be sharper than seasonal, due to
the generally lower level Of industrial
activity.
EMPLOYMENT: 1t is hoped that
the new census will at last provide
data from which it will be possible to
discover more or less exactly the num-
Der of unemployed. Estimates range
Ii ioln E,OOO,oOO w IO,oOOjO'o, WIN wiz
higher figure more prevalent.
x X X
The resignation of Premier Daladier
of France was not surprise to in
formed quarters. 1t has long been be-
lieved that both the French and Eng
lish peoples are more militant than
their civil leaders. When Mr.. Daladier
asked for vote of confidence recent
Ily, only one member voted against him
but about 800 of the Chamber Of
Deputies did not vote at all. The res
Iignation then became inevitable. Rey-
maud, the new Premier, is believed to
flavor more aggressive war policy.
In England, opposition to the
Chamberlain leadership grows. 1t is
believed in some influential quarters
that the Allies edge may be slipping
with the passage of time, and that a
decisive blow should be struck. At the
same time, equally qualified experts
are still convinced that the British
blockade will be successful, that Rus
sia will not be OF significant aid to the
Reich, and that time works with the
Allies. There seems little chance at
present that Mr.. Chamberlain will be
forced out. And the recent increased
activity Of the British fighting forces,
characterized by the air raid on the
German seaplane base, has proven
highly popular with the British people
as whole.
Whether the relative quiet of Ger
many's fighting arms is the peace be-
fore the storm, is matter of consid-
cradle conjecture. Hitler has been
talking "blitzkrieg" so long without
acting, that some observers have be-
come convinced it is mainly bluff. On
the other side of the fence are those
who remain convinced that Germany
will shoot her bolt before long-that
she must, it being her only chance.
b! !Objective would be to destroy Allied
docks, power plants, transportation
warehouses, as well as munitions de-
pots and air fields.
In the meantime, more and more are
saying that no one will or can win
this war-that it will prove a dis