Show economic Econom vii highlights tile the business picture has been marred by somo unfavorable factors lately but taking it by and I 1 large it rge the outlook tor for steady if slow improvement seems to remain good one bad v element has been renewed weakening in the com commodity price structure the values of wheat and other farm futures have tended to decline in spite of efforts to hold them at stable ley levels there have been no sharp breaks however and general opinion believes that prices will soon strengthen also bad has been the chaotic situation abroad hitler seems seeing to be playing the old game of bluff czechoslovakia again fa reign currencies notably the franc and pound have lost ground in their relation to the dollar but most authorities regard all this as being of little importance they think a general war in the immediate future is unlikely largely due to tile economic weal weakness mess of the total tarlan states and that matters abroad will continue about as they have during the past two or three years with crises appearing periodically making the headlines and then dropping int into 0 obscurity se ity so far as the figures are con berned tile the domestic situation is good everything seems seeing to be present that la is needed tor for a stable recovery movement the 1037 recession resulted lu in production falling behind consumption merchants large and small reduced their inventories ven tories to the minimum buying was on a hand to mouth basis bota because of hard times and because causo of the expectation that sharp harp price reductions must occur today with coil consumption of perls perishable hablo goods rising and with the government latest emergency spending program putting a spark of life into the long paralyzed durable goods industries commerce comme ice Is be ing forced to replenish its stocks this Is pi proven oven by the federal reserve resen 0 boards boaras index of industrial I 1 production which made its first gain of nf the year in fit june find which is now five or six points ft bove bou that level ie i el some mume briefs ot of interest follow stool steel operations have hell to it 11 fate fair level kel anil aad substantial fill fall improvement Is expected future are good motors As Is always truo true ja in bild product iu Is now almost nil but some makers are planning more of 0 a splurge albi alik their cars than they thought was wise ft fe few months ago tile tho general upturn in business and sentiment has hag encouraged them Elec electure tire power production when seasonal adjustments are made Is at a good level outlook indicates that fall consumption will bo be close to the 1037 level on the adverse side sentiment in the industry Is at a low ebb due to politics agriculture As mentioned above prices have weakened on tile tho other hand the chances are that the carml farmers rs cash income tor for major crops will be reasonably satisfactory tills this year though prices will be lower yields will bo be higher especially in the case of grains employment i latest f figures I 1 g u r e s which have any pretense to nu all dhority indicate that there has been a fair amount of reemploy anent by industry anil and that material gains will bo be made after labor day on the other hand baud at lenit leat lo people are still out of work and there seems to be small chance of most of them finding jobs unless a business revival of much greater intensity than llian anyone anticipates occurs securities turnover on the stock exchange has slowed wed r somewhat but prices have held their gains for the most part and bullish Is still uppermost the Il larket has become less influenced 1 by european scares there have been so any of them in the last few years and so tow few have amounted to anything general outlook most authorities agree that the recovery move will continue into next spring i pew are willing to gamble an opinion on oil what will happen thereafter the pol political lUcal situation la Is an all unsettled factor and will I 1 emain acin u aln so the go govern v ern alent 8 fiscal policy remains the worst of all factors so far as aa tho long loag view Is 18 concerned mr roosevelt may succeed in defeating senators george deborg and tydings and representative oconnor tile the three congressmen who head tile adain admin administrations astri actions pure 0 o list lint but even ci en it if he does docs ills his troubles will not lie be over cover by illy any that Is the gist oi 02 political opinion on tile the presidents recent bair It ianson it these and illde or less ss anti new deal atino cratta ire are beaten it will be credia ed cd to white intervention their thousands of fol follow lowers m lio lie litter at it the roosevelt loader mp they will be eager cager to OVUM change the control of their party furthermore ture there la Is a growing feeling of restiveness among oon gres including some of those who have been per cent new deal because of what they rl regard gard as white house dictation the prospect Is that the president will have plenty of trouble getting his legislative program through next seg slon irrespective of 0 what happens in it the elections |