Salt Lake Telegram | 1934-07-27 | Page 6 | Industry's Output Shows Cut in June

INDUSTRY'S OUTPUT SHOWS CUT IN JUNE Drop Follows Six Months of Steady Gains W WASHINGTON July 27 UP UP-In- UP In Industrial production declined slightly during June after six siz months month steady gain the federal reserve board reported reported re- re ported today in Its monthly survey urvey of busin business Factory employment and payrolls also decreased partly due to seasonal slumps the board reported The board oard attributed the declines chiefly to Lo o a R sharp reduction in activity at cotton textile mills milli Production at lumber umber mills and at coal min mines also showed a decline Between June 13 and July 18 member memo mem ber er bank reserves Increased to to- toa a new high level of approximately about in excess S of legal requirements