Show INSIDE STUFF j 1 By PAUL MALLON l t 4 WASHINGTON Dec 1 Bus I-Busi- Busi- Busi rf 1 n ness s was a little better in Novem- Novem 4 her ber It will b be a little better than han 4 that in December and January t t should show a mi mite e o of improvement improve- improve i ment nent over December f f That estimate is not just th the 4 Usual which seems to be beI I t getting popular again but a rca rca- A J view of the situation I frk i based on competent figures andi and i studied exp expectations dat ons What seemed to have happened Is that in the early fall strikes and price uncertainty caused stocks of ot goods to flU U. U S. S Business be depleted Now Upturn Slow the price level is But Steady drawing business con confidence f j den c e. e I. I i Stocks are being adjusted to demand de- de mand anand and demand also is assert assert- ert- ert J. J 1 j in ing itself in replacements The Thep The p stock tock situation Is such that the i trend will Undoubtedly continue t. t f i through December and probably January t All AU this means that we v have hav had hada a mental recovery ry and that the f mental recovery is vel very slowly p I generating better business busine It does r not mean you should put any faith In Iii the current cackling of sf who think everything l. l is Ls going to be bigger and arid better at c once or an any time soon COn 6 e e eThe t The tip Up of or those best able to judge fudge the p prospects of or Christ Christmas retail trade is that it will be at t least 10 per cent above last year ear A heavy movement of ot Christmas goods has been en noticeable People seem cern to have more money than lut year yeu generally and are arc more Inclined to spend it If advance expectations are arc realized it will ill be be the best Christmas since 1930 S You can look at the thc to tome lice ec the me gradual progress made in Ithe he pa past three m months nu Each ach fig fig- c represents the of ot I Continued on Pa Pare PUe e Two INSIDE STUFF Continued d Scorn from P. P Page One normal at the times stated with normal lOa being the average a lot for the years 25 24 for lor everything everything everything every every- thing except prices The figures 4 j d 1 W 03 c co en n D o n tC c 3 r o o 0 c a 0 5 2 00 0 3 so a g- g gs s 5 l o 8 i I IK Year n 8 ai u a Il 3 g 8 K g n D s e a as n i c R 1926 equals 1929 average 1048 1091 1930 average 96 92 92 1931 average 81 75 92 63 September 1932 66 54 68 30 October 67 57 69 29 November 65 57 63 27 Septem September 1933 84 4 60 60 70 30 October 77 58 sa 70 37 November 73 60 65 48 January Januar 1934 78 64 6 68 49 February 81 64 71 44 March 85 66 77 33 73 April 86 67 62 77 32 73 May 86 63 77 26 73 June 83 64 74 26 July July 75 61 72 27 August 73 59 79 27 September September- 71 59 76 27 October 73 60 7 57 75 31 November estimated 75 56 77 7 30 You probably have the wrong idea dea about prices from reading the generally published figures Everyone Everyone Ev Ev- Ev- Ev thinks hInks prices have been goIng goIng going go go- ing up The Thc truth is Ls that the only prices which have increased materIally materially materially ma ma- this year are those of food and farm products The drouth did that with some debatable help from the A Food Farm A A program Produce Prices es La Last J t January Show Increase the price level of ot ote e eve every ve r thing except except ex ex- foods and farm products was That W was was- S for the first week week- of 01 this year For the week of November November No November vember 17 this comparable figure was exactly a difference of less than a p point int During all that intervening are coll collected from various private and governmental agencies and adjusted for seasonal variations so that an increase from month to month shows an improvement beI beyond beyond be be- I yond seasonal expectations period covering nearly a year the figure never went higher than and never never lower than than the figure for the first week in Janu Janu- ary For the last three months it has been practically unchanged 0 That price situation seems to be bea a rather broad response to Professor Pro Pro- fessor Warren the committee for lor forthe forthe the nation Father Coughlin and andall andall andall all the others who think dollar devaluation devaluation de de- de- de valuation Is the key to price levels President Roosevelt devalued the dollar January 31 and the price level evel of ot all products not influenced influenced in in- by the drouth is just about the came rame me as before the de de- de- de valuation It went up slightly for a awhile awhile awhile while because of ot fear tear and speculation speculation specula specula- tion but it soon oon adjusted itself to more important matters than dollar dolat dolar dol dol- lar at ar devaluation devaluation- Ballyhoo Based namely supply On Restoration and demand Of 1926 Level I In n c i dentally the Washington ballyhoo of last year you may remember remember re re- re- re member was was based on the restora- restora ton of ot th the 1926 1026 price level You have not eard much of 0 that lately lately late late- ly and you ou wont What they are arc talking up now is for lor the readjustment of ot prices to encourage distribution They are not trying to fool with the general price level any more S The Thc only index now going backward backward backward back back- ward Is freight car loadings You would think that with business activity Increasing the railroads would be getting their share They are sharing but the drouth hit them so hard that their average average average aver aver- age traffic figure is suffering Livestock and grain shipments are down to about 60 per cent of ot normal Ore and lumber are also down but other items are holding their own o 0 S The building improvement was not due to the two bad boys Mr Moffett and ond Mr Ickes but to a flurry turry In residential construction It may not la last t. t Foreclosures Foreclosure are still going on at the rate of ot about a month and while people are losing their ther property at that rate the outlook Is hardly rosy Copyright 1934 The Tele- Tele gram Cram It I kJ i J W WIh Ih I r i a w- w 5 t |