Milford chronicle., 1956-05-18

II Dc6u Qullc Oln6IClI SIOlgs IL
mand for the heating sizes has
continued to decline steadily and
even the severe weather of this
past winter seems to have had
less than the expected effect on
operations. About the best that
can be said for anthracite is the
increasing use of this fuel in the
manufacture of coke.
Construction activity on the basis
of contracts awarded has been run
ming at the high levels for many
months. However, since the turn
of the year there has developed a
shift in emphasis from the residen-
tial to the industrial field. In the
early months of 1855 awards for
family houses were showing larg-
er year-to-year gains than any
other major category. But in the
quarter ended March 1856 awards
for one and two-family houses
were about per cent less than
year earlier, while the dollar
volume of contracts let for factory
buildings was considerably more
than double the first-quarter 1855
total.
Lenders, builders and realtors
tell us that homebuilding prospects
for this year still are somewhat
uncertain. Mortgage money is
little easier than it was last fall
but the availability of construction
loans to builders has not changed
significantly. There has been a
little more activity in the market
for old houses but prices remain
under pressure. The builders them
selves have experienced some delay
in operations because of material
shortages and the unusually severe
winter weather Construction costs
in most parts of this district seem
likely to go higher. At this point,
many builders are giving more
thought to finishing houses fol the
spring market than to starting new
large scale projects or undertaking
extensive land developments.
Farm cash income in Pennsyl-
vania, New Jersey and Delaware
was little larger in 1855 than in
the preceding year but 1854 was
not a good year. Income from live
stock products held up surprising
ly we'll, particularly in Delaware,
where prices of broilers brought
good returns over much of the
year. Income from crops was low
everywhere, with receipts from
vegetables particularly disappoint-
ing. Unfavorable weather not only
reduced yields very sharply but
resulted in poor quality, which in
turn brought lower prices. In the
early months of 1856 total cash in
come was about 1 per cent higher
than q year earlier. Farm land
values, however, have increased in
both Pennsylvania and New Jersey,
and are we'll maintained in Della
ware. In this Federal Reserve Dis
tendency for farmers to enlarge
their land holdings into more eff
cient units. This development has
contributed much to maintaining
an active demand for farm acreages
and has enhanced land values in
most sections.
Freight car IOadings through the
first quarter of 1856 held well
above the levels of thC two pre-
ceding years and nearly equaled the
large volume reported in the pre-
recession period of 1853. Forecasts
of the second quarter total indi-
cate an increase of about per
cent over year earlier. On a COM
modify basis, some of the sharpest
increases are expected in loadings
of coal. coke. steel, machinery and
Building materials.
Department store sales have con-
tinued in large volume in recent
months and we'll above the levels
Of one and two years ago. Both
cash and instalment sales have
heen higher than in the winter and
snrine of 1855 but dollar volume
nn regular charge accounts has
diminished. Increases over a year
ago in total dollar sales have oc-
currnd in all major city areas
of this district Pusinass volume
IN the so-caI1ed CHG ticket" items
like annliancns and televisinn com
narne we11 with a year a0O.
Automobile dealers cnmnlain Of
severe competition and many of
them seeTn tO feel thav are not
receiving their share nf consumers
dollars. Nevertheless the record nf
raoistrations Indicates steady
climb from nar1v winter lows. In
+he Third District counties Of
pann evI,ro MIA new cor registrations
orc showing 2 pond mar0in Of in
oraaen over both ono and two vaar~
200 This vaar's firct-nuartn~ tnta1
wos rn IN nor cent from 1e55 nrd
oI,,,oct On NOV Govt from 1o5A
NEaanwhiIa Ia+oct ~onortG in6ion+o
tEo+ rend GOV markets have heon
LOII:-,1 vuo11