Evening star., 1951-07-30
Industrial Production
For July Is Reported
Below Seasonal Din
By Nelson M. Shepard

oy Nelson M. Sneporo
Reports analyzed by the Federal
Reserve Board indicate a decline
in industrial production for July
somewhat more than seasonal" }"
the board reported today.
The output of factories and
mines, based on the 1858 aver
age as 100, may decline to about
215 in July, compared with the
postwar high of 223 in May, the
boards index disclosed. In June
it stood at 222 and the index
reached a high of 244 during
World War II. when production
was at its peak
The boards summary of busi-
ness conditions. attributed the ex-
pected drop this month mainly to
vacation shutdoWns in non-dura-
BILE goods industries, which are not
currently allowed for in the index.
Also indicated was a further re-
Stricted volume of automobile
assemblies.
Total production of durable
goods was maintained in June.
Further increases in industrial
and military equipment. it was re-
ported, offset additional curtail-
ments in output of furniture and
other household goods.
Despite only moderate increases
in recent months. figures indicate
machinery output has risen more
than 25 per cent in the last year.
Aircraft and ordnance output has
about doubled.
New Store to Open.
An enterprising Washington
department store buyer, going into
business On his own, will open a
new home furnishing store early
this fall at 1907 H street NE.
Bernard N. Barr, who heads the
firm, said it will be called Bars
Golden Rule Home Furnishing
Store He selected the Golden
Rule" slogan as indicating his in
tention of conducting what he
terms ''an honest value" store.
Twice associated with Golden
berg's department store. which he
left about five months ago to
formulate his business plans. Mr..
Barr will deal with line of goods
in which he has had 20 years as
buyer His buying activities also
included employment with the
May Co. in Baltimore and Adler &
Childs, in Dayton, Ohio.
Mr.. Barr looked over many
available business areas in Wash
ington before deciding to locate
in the ruSy H street neighbor-
hood. The store will be located in
a new ore-story brick building, rs
feet by 20 feet. He will be its
first tenant. 1t will be stocked
with a selected line of curtains,
draperies domestic goods and the
like. There will be no goods in
boxes, he indicated. All of it is to
be displayed openly in the store,
ana snow WINDOWS.
SeabOard Revenues Up.
Seaboard Air Line Railroad re-
ported Si2,185, ,164 gross revenues
in June compared with $10,667,-
876 in June year ago. Net in
come (before funds) was $l,182.-
SAP. or S1.31 a share. compared
with S1,022 .087 or $113 share
for June. 1850.
For the first six months, net in
come (before funds was $7,201,-
586 or So 03 a share. This COM
pared with $7,751 ,684 or $3.50 for
the same period a year ago.
ABA Convention Plans.
Informal reports here indicate
that Washington will send an un-
usually large delegation in Sep
ember to the 9th annual conven-
ton of the American Bankers
Association in Chicago. There is
keen interest in the keynote ad-
dress which President James E.
Shelton of Los Angeles will make
because of the critical interna-
tional situation and domestic
conditions generally.
The convention is from Sep
tember 80 to October 3, leaving
plenty of time for Washington
bank executives to make their
own arrangements for combining
business and vacationing. Pre-
Iiminary announcements regarding
key speakers and convention COM
mittees are being awaited with
considerable interest.
Tobacco Volume Higher.
The Agriculture Department to-
day reported the heaviest volume
of tobacco for this season was
auctioned off on the Southern
Maryland markets last week. Net
auction sales for the week totaled
3,751,051 pounds and averaged
S47.77 per hundred. This average
was $1.24 below that of the pre-
vious week when 2.8 million
pounds were auctioned. Season
sales were brought to 26,111,247
pounds averaging $49.52. For the
comparable period last year
around 30.2 million pounds had
been auctioned for an average OF
S48.15,