Show I IM I'M S S' I D n F E E LOi S s T I I U I rr F F F. The News Behind the News By PAUL MALLON c WASHINGTON The The best story about business today is that there thero is no story Nothing extraordinary appears to be behind the better federal statistics No unusual situations situations sit Bit have stirred an extra vigor in the thc spring rise Merely the cumulative effects of ot improvement se seem m to be Involved in involved involved In- In in the better figures for April which will be bo out In a few days The tendency of self seif Is working on the way up as it ft did on the way down Thus a a. thousand little things rather than dominant factors appear appear ap ap- ap- ap pear to have worked Industrial production up to about 97 91 percent per cent of ot normal currently as may maybe maybe maybe be seen in the accompanying ta ta- ble The Thc figures are collected by the government from various official and private agencies and d all are official except the I current month which is estimated See business chart to right Each figure represents the percentage percentage percentage per per- of ot normality existing at atthe atthe atthe the times stated with the average average average aver aver- age years years of ot 25 1923 inclusive being considered per cent except for the price index which is I. based on 1926 as Note the extent to which buildIng buildIng building build build- ing construction and freight traffIc traffic traffic fic arc out of ot line lInc with general business as represented by pro pro- Also note noto the way other factors are lagging from the per pcr cent line Industry l' l The month four level of production pro- pro around 95 per cent representS represents rep rep- resents the wide bestirring of the durable goods industries which began late last fall faU Recent production production production pro pro- increases centered in mated steel automobiles and building mate mate- rials The operation of steel mills at around 70 per cent of ot normal is not lot due duo entirely to greater automobile automobile auto auto- mobile demand but also to In Increased increased increased in- in creased demand from railroads and building Tho The first four months of automobile production this year will be higher than last in spite of ot the fact that the new models were brought out in October October October Octo Octo- ber this season instead of in January January January Jan Jan- Jan Jan- uary as usual The Tho ho auto market marlet marketis is standing up Building while sti still less than half halt of normal is nevertheless showing employment gains Another thing the April Increase in increase increase in- in crease was entirely in the manufacturIng manufacturing manufacturing manu manu- phase of production and not in the mining phase which showed a slight aUght decrease In other words it all aU looks reaL reaLA A close connection seems to exist ex ex- let at between tho the employment Index in index In- In dex and department store atoro sales lales You will notice both are estimated estimated estimated esti esti- mated at exactly 86 per cent for April They have kept close to each other during the depression Behind the stability of ot the price index is tho the fact that manufacturing ing Jug and industrial prices have not changed in the aggregate during th the tho last few months The flood and the drop in hi coal production after the cold spell are what caused the dip in freight car loadings during March Warning A general European peace i agreement is expected in the not too distant future It will involve I Great Britain France and Germany Germany Germany Ger Ger- many and will probably be hailed as a new era It wont won't be The dope here is that Hitler will vill be willing to sign a peace agreement in which many pledges are made even concerning the eastern frontier His idea will wUl be beto beto beto to maintain Britain's friendship and avoid any drastic action by France The Tho way is now being quietly cleared for bargaining over such an agreement I But even if it Hitler swears It it no one here will believe he has abandoned his eastern hopes Treaties have been made before and and broken Tho The time when he will wUl move eastward rd is sU still problematical His last Rhineland move was timed to offset a dangerous situation situation sit alt developing between the radical and conservative elements clements among the nazis and unrest among the German people This is not French propaganda Trustworthy Trustworthy Trustworthy Trust Trust- worthy confidential advices say such a a. situation actually existed When his domestic situation dictates again and when the foreign foreign foreign for for- eign situation is quiet Hitler will move and move eastward no matter how many treaties are arc signed He may be able to avoid it for a year and then again he may not Rule Change Thrift may always ahva's be a virtue in the copybooks but not in the relations of the citizen and the government Veterans have found that if it they borrowed 50 per cent on their bonus and paid no Interest interest interest inter inter- est all the interest due since September 30 30 1931 is canceled But if it they paid the Interest they owe owed after that date they get no credit whatever A veteran who borrowed 50 ro per percent percent percent cent in 1931 and put it out at Interest Interest in interest In- In terest could have picked up about on the deal deat Copyright 1936 for forThe The Telegram |