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Show liifiltiiiiiiltiiii During past two months retailers along nation's na-tion's Main Streets have eased off top-heavy inventories. in-ventories. As compared to June, retailer inventories inven-tories show overall decline of 1.50,000,000. Much of decline occurred among automotive dealers. Increase In-crease of $100,000,000 in hardware store inventories offset declines in A stocks of other maj or groups of both Mfllti durable and non-durable goods stores. CTtiiKET General merchandise stocks declined Sltittl sharply with only a slight increase in FEATURE food and drug stocks. FARM PRICES CONTINUE DECLINE O Of particular interest to Main Street is fact that for sixth consecutive month index of Prices received by farmers registered a decline. As pointed out in previous letters, sharpest drop was registered by cotton, although losses were registered by most crops. It was higher prices on fruit, some meat animals, milk and eggs which held total decline in farm prices to less than j one-half per cent in past month. Steady decline j in farm prices since February has raised one-third of gain made in first nine months after Korea. j Meanwhile, index of prices paid by farmers for commodities, interest, taxes and wage rate, has J risen farther. Here is example: Declining prices received and higher prices paid by farmers has reduced re-duced parity position of farmers from 13 per cent above parity as a group in mid-February to 4 per cent above parity in late August. Despite decline in farmer's position, economic eco-nomic activity in nation remains high and people at work reached a peak of 62 million last month. Unemployment shrank to less than two million. As result, personal income is up 15 per cent, with wags n salary receipts showing 20 per cent gain. Despite decline in prices of farm commodities FARMERS CASH INCOME FROM THE SALE OF PRODUCTS HAS ALSO MOVED UP, RUNNING IN AUGUST 12 PER CENT ABOVE A YEAR AGO AND FOR FIRST EIGHT MONTHS OF 1951 16 PER CENT ABOVE SAME PERIOD IN 1950 BUSINESS GENERALLY IS GOOD According to surveys by governmental agencies agen-cies and business associations, business is good throughout nation judged by any standards except 1950. While experts predicted a new spurt in fall buying, as of September 10 it had not materialized. These same experts are at loss to understand why. For instance, although great publicity was given to expected increase in automobile prices, new car-sales car-sales FAILED TO BOOM. About 20,000,000 new automobiles auto-mobiles have been sold in past six years and it may be automobile manufacturers have caught up with their market. Easier credit terms and sure drop in production, however, heretofore have brought about rush of buying. Defense Mobilizer Charles Wilson says material mate-rial shortage is here. This means shortages in consumer goods. Suppose, one economist says, Pinch cuts back production 40 per cent under 1950. that wouldn't exactly place nation's consumers on starvation diet, because 1950 production was highest high-est in nation's history for consumer goods. O Step-up expected in next few months on draft into the military service. Also department of labor reports something like 64,000 jobs in important im-portant industries going begging for lack of workers. Prepared bj the Washington Bureau of WNU Features. |