OCR Text |
Show How U. S. Business Stacks Up I . By JAMES L KILGALLEN Slue's s Tkto kl t taeeaS twe. anirm am wtta l ciseiii tatsaaasal Um wiry. NEW YORK (INS) Business in the United States at present la spotty and rather hard to size up. In some localities there Is a lagging lag-ging tendency; In other sections conditions are good. A bright spot Is conatructlon, private and public An increase in building activity is reported In advices ad-vices to International Newa Service Ser-vice today from Indiana polia, St Louis, Denver and Sacramento. The world's fairs la New York and San Francisco are stimulating stimulat-ing trade In those areas. Chicago reports that mail order business ia fine. Xha agricultural outlook in Texas Is better and Birmingham, Ala, sees a definite improvement In Industrial production. . Pittsburgh and adjacent territory terri-tory la striving to recover from the effect ef the recent lay-off of bituminous coal, miners. Generally speaking, however, the nation la comparatively free of otrikee and similar industrial disturbances. Upward of 11.000,000 men continue con-tinue unemployed. From Washington. D. C, tha federal reserve board reports that a number of industries have been lagging since the first ef the year. The federal reserve index of Industrial production waa put at 92 for May, the aame aa April, showing a decline from 10 ia December. Wage rates In moat individual Induatriea have been fairly atable since the middle ef 1937, according accord-ing to ths board. Indianapolis advices tell of marked building activity in Indiana, In-diana, It ia predicted that federal , housing administration loan commitments com-mitments will mount to mors than $80,000,000 for 1939. The St Louts correspondent reporting on conditions In his area, says: "There has been a notable increase in building activities, reflected re-flected in permits issued and actual ac-tual construction contracts let ths latter reaching the highest point since last January." Denver building construction Is notably on the up-grade, due largely large-ly to government spending. The federal government has under way projects at the Lowry field air school involving expenditures of several million dollars. Sacramento reports building permits the first five months of 1939 In that city totaled 13.22e.42s, an increase of approximately 1900.000 over the aame period of 1938 and the highest in 12 years. Approximately SO par cent of the total is for new home construction. construc-tion. Chicago's big mall order and retail store houses have ahowa phenomenal gains in sales. Sears, Roebuck A Co. reported sales of 15e.r7s.933 for the period April 24 to May 11 a record for that period and a gain of 2 per cent ever last year. Montgomery Ward A Co. la also aottlng reeorda For the quarter snded April SO, It showed a net profit of t4.423.lTS, after all charges and taxes. This compared with a profit of 12.101.-94 12.101.-94 for ths same period hut year. General buaUMea in Detroit, the great automobile center, ia la good shape. Banking la 20 per cent above 193 In -check casaringa. Residential building for May waa far above ths same month a year ago. Pittsburgh reports that buai-neas buai-neas ia that city ia "slow and fairly colorless at present with most induatrialiste none too ep-timlatic ep-timlatic about the summer. Tha general feeling ia that if there la a aaUea-wide upturn. Pittsburgh t- . naturauy wiu reneoc un early." Other advice to International News Service revealed ths following: fol-lowing: Ohio Business In tbs Cleveland Cleve-land area generally better than at this tims a year ago but considerably con-siderably poorer than at this tims in 1937. Colorado Tourist business is getting under way. resulting in large scale employment at resort hotels in the mountains. Predictions Predic-tions are that more than 130,000,-000 130,000,-000 will be spent in Colorado this year by tourists. Utah Business sentiment in Utah improved last few weeks. Mercantile business up. Building good. Settlement of strike at lead and silver mines has stimulated stimu-lated production and employment employ-ment Farmers encouraged by good crop prospects. Wyoming Better than S per eent upturn in dollar sales at 207 independent retail stores recently, recent-ly, compared with year ago. Montana Worst spot in ths mountain area. Mining in Butte district particularly bad. due to low prices of copper, lead and sine. Nsw Mexico Looking up due to prospect of influx of tourists going east and wast to New York and San Francisco fairs. Texas Improved outlook for agricultural and livestock induatriea indua-triea and further Increase In the value of construction contracts. Louisiana Department store sales and general retail merchandise mer-chandise holding up welL No noticeable expansion In new business, busi-ness, however. Alabama Industrial production produc-tion ia Birmingham district definitely defi-nitely upward ekiring past 10 da. ye, accompanied by a marked increase in-crease In retail saiea, bank clearings clear-ings and postal reoelpta. Kentucky Louisville's retail department aales gained as high as 12 1 per cent ia May, aa compared com-pared with May. 13. |