Show I K I C I P PC C The Ne New Newt Behind the News I N N. N S 5 I D E S 5 T lU U F F BY P PUL UL L MALLON v WASHINGTON No No news is usually the best news for business business bustness busi bust ness and there is no news in ih the business statistics this month The undercurrent of self gener demand for heavy goods like steel autos cement and plate glass is continuing It was stimulated considerably late in April and during the first half hair of March arch because tho the floods caused orders to pile up This is what forced industrial production up to per cent in April and is keeping keeping keep keep- ing it at about 99 for May 1 If you level off this spurt and consider tho the figures for the first five months of ot the tho year as a whole you will seo see these broad general facts Factory employment has not improved since the first of the year but payrolls have Production Production Production tion has been very near normal average years 1923 24 and 25 but employment has been only about 84 8 per cent normal and payrolls about 75 per cent Sales are good farm and food prices somewhat c cheaper h e a ape p e r industrial prices firm The railroads arc doIng doing do do- ing lag about 70 per cent of o-f normal business Building is coming back but not fast and there is nothing like lIko a boom in that line yet In fact building now is only about 46 6 per cent of normal Chart These deductions stick out on the monthly business chart of statistics statistics statistics sta sta- sta- sta collected by tho the government government govern govern- ment which follows Each figure figuro figuro fig fig- uro ure is based on 25 1923 averages at except prices which are based on 1926 Tho The production figure is a federal reserve board index employment and payrolls are gathered by the bureau of la labor labor la- la bor statistics and the others are by business groups outside the tho government The figures are adjusted adjusted ad ad- jasted for seasonal variations Note The Note The chart was originally devised by Mr Hoover in a message message message mes mes- sage to congress and its principles principles princE princE- ples pies have since been generally adopted in all business statistics Note Note More More than half a million autos autos' were as assembled in April It was the biggest auto month since 1929 1029 Tho The bulk of recent increases jn In manufacturing output is in steel The steel demand comes largely from building rails machinery machinery machinery ma ma- chinery and aut autos s. s Tho The auto de de- de mand inand Is falling of off now Next month will vIll probably be slightly lower Tho The reason Secretary Perkins Perkins' Perkins Perkins' Perkins Perkins' Per Per- kins' kins figures show a much larger Jarger employment increase than the chart is be because ause tho tho seasonal de demand demand de- de mand for farm road building and other outdoor labor Jabor is on This is not reflected in the chart which covers only factory employment Since the first of the year farm farmand farmand farmand and food prices have gone off about five points The Tho food in index index in- in dex is down from 86 to 77 April was the best month the machine tool industry hn has had in many years Steel got up per cent capacity operations in April which really represents about 80 per cent of the business done in I steel in the peak year of 1929 Imp Further proceedings proceedings proceed proceed- ings against federal judges are arc highly probable after the next election Several complaints now are pending in the house The I crowd of congressmen congress congress- men would like to have a few more impeachments on on general principle Also few Democrats will object to creating more vacancies va va- canci s among Republican judges it If if President Roosevelt is re- re elected For these reasons and others there is likely to be a a serious effort effort ef cr- ef- ef fort to change the method of impeachment impeachment im im- im- im next session The house judiciary is dead set against the present cumbersome cumbersome cumber cumber- some somo system and so are te a majority majority majority ma ma- of senators v I yo y- y o This is one summer Jack Garner Garner Gar Gar- 11 ner the le vice ice president will not spend fishing In general Garner Gar Gar- ner ncr i leans ans toward the rod and reel meth method d of political campaigning Four years ears ago he talked little mUe you nay may recall He Ho was against Mr Roosevelt taking the long west western rn swing around the tho circle in the the last campaign But plans are already being made for him to t take ke a far more active part this The White House crowd seems scents to believe he will be a far mor effective orator than some they now have I Economy Econom A perennial pet economy is the tho elimination of useless army posts It v was s recommended in the Hoover Hoover Hoover Hoo Hoo- ver administration but nothing was done It was insisted upon by Mr Roosevelt but nothing ever happened Heres Here's why The house refused by an overwhelming over over- whelming heming vote tho the other day to withdraw an air corps technical sch school l from a certain Democratic congressional district in Illinois although the army recommended it The leaders made no secret of at their reason They passed the word that they did not want to handicap the Democratic congressman con con- gressman greman in his reel reelection cUon cam cam- palin Congressmen are elected for tor what they can get out of the fed- fed treasury eral treasury era not for tor what they can save ave Copyright 1936 for The Telegram 9 1 1 f IS 1 1 I. I 1 ti ra 0 1 a g O 0 o oan an 3 1 2 g r 1 o 1 O 12 YEAR t. t E i 3 g 1 CI t. t I CU i I IJ 1 I III P. P J 1929 J 1 1048 8 loi 1 6 3 1930 average 96 87 92 02 92 1931 average 81 81 75 92 63 1932 average 64 64 56 69 28 1933 average 76 58 67 27 1934 average 79 s 62 75 32 1935 average 90 63 79 37 April 86 61 74 26 May 85 61 76 25 1936 January 89 70 79 61 February MO 70 80 52 March arch 66 88 47 96 April joo 69 81 48 May cst 99 75 71 84 46 |