Milford chronicle., 1956-10-26

widely all year, but much of the
time at higher levels than prevail
ed over practically all of 1855.
Somewhat larger exports of anthra-
cite have helped production this
year. The increasing use of the
fuel in the manufacture of coke
has given the industry another
much needed "shot in the arm"
Meanwhile, new uses for anthra-
cite are being sought constantly
and there is a persistent effort to
improve stoking and burning
equipment to increase the popu-
larity of the fuel for heating pur-
poses.
Building and construction. as
measured by contracts awarded in
this district, have continued close
to 1855 levels, but the pattern of
activity has changed considerably.
This year, emphasis has shifted to
non-residential building -particu-
larly factories and educational
structures. Awards for residences
have Jagged considerably since
spring. Progressive tightening in
the supply of mortgage money for
BODYBUILDING have resulted in few
er starts, with builders becoming
increasingly cautious as the year
progresses. Financing with FILA
and VA mortgages has been espe-
cially difficult. Latest reports in
dicate that this situation shows no
signs of easing, consequently
homebuilders in this area have con-
tinued to cut back their plans for
fall operations.
Department store sales have been
one of the areas of greatest
strength in the Third District econ
omy since the turn of the year.
Thus far, July was the only month
in which dollar volume failed to
exceed 1856 by fairly large mar
gin. August business was espe-
cially good and set a new record
for that month. Cash sales have
accounted for a larger percentage
of total volume than in 1855 In
creases over year ago in total
sales have persisted in all major
city areas except Wilkes-Barre.
Wilmington, Scranton, and York
are the areas showing the largest
percentage gains compared with
the first eight months of last year.
Collections at district department
stores have been at a somewhat
slnwer rate than in 1856, with the
greatest departure appearing in
instalment accounts.
Automobile registration in Third
District counties in Pennsylvania
were higher than a year ago only
in the first two months of 1856.
Since spring the trend has been
downward Seeond-quarter regis
trations were off 20 per cent from
1866 and over the first eight months
the decline amounted to IL per
cent. Used-car markets have held
up rather well in most Third Dis
srict cities, but the demand for
new cars has been disappointing
and the competition for business
exceptionally severe.
Freight ear l0adings through
June held well above 1855 on top
of sharply rising trend during
the same period last year. The
impact of the steel strike on total
freight volume was severe in this
area, with loadings for July show
ing a drop of about one-third from
the preceding month. AS in the
case of most other industries di-
rectly affected by this work stop
page, car loadings made rapid
recovery in August and early Sep
tenber. Estimates of fourtss dnar~
ter loadings for the Allegheny reg
ion, which include this Federal
Reserve district, indicate that total
shipments may rise 5 per cent
above a year earlier On a COM
modify basis, the sharpest increase
is looked for in loadings of ore
and ore concentrates.
Cash income received by Third
District farmers has risen sharply
since early spring. july was a
particularly good month, owing to
much larger yields of higher-qual-
ity crops than were produced a
year ago. In the first seven months
of 1856, the cash income of farm
ers ran per cent above last years
level, with New Jersey showing
the largest gain. Receipts from
crops alone were up z per cent in
this period, compared with an in
crease of only per cent for live
stock products. Income from live
stock products this year was adj
versely affected by prices. Della
ware farmers in particular felt
this because of very low prices
for broilers, that states most inn
portant single source of farm cash
income
Consumer prices in Philadel-
phia, as elsewhere in the country.
nave been rising steadily since the
early months of this year. Lo-
cally, the advance has amounted to
almost per cent, as compared
with virtually no increase in the
first eight months last year. High
er food costs have accounted for
much of the overall advance in
living costs, having risen nearly
5 per cent between January and
August. The cost of housing, too,
has increased, rejecting both ris-
ing prices of new construction and
higher rentals in this area. Other
items making up the Bureau of
Labor Statistics index of living
costs have contributed in only a
minor degree to this years general
advance.