Show GENERAL BUSINESS conditions courtesy richfield commercial savings bank the improvement in business sentiment noted in the latter part of july became more widespread during august and in the main has been supported by changes in the industrial du situation the low point ot of activity for many of the major industries dus tries appears to have been reached in june and july and the outlook is encouraging for more active business during the autumn months the figures for iron and steel production showed the july totals to be the smallest since the winter ot of lolla loll A jf 3 the he rate of 0 operations increased gradually during the latter part of that month and judge gary nab has stated that tor for the steel corporation at least the rate of new orders in the first three weeks of 0 august was 10 per cent ahead of the july rate while it is true that the steel industry is still operating at a very low rate the turn for the better is none the less significant particularly 1 as it has been accompanied by similar sim liar developments in other industries arles in the automobile industry where the curtailment was rapid and drastic during the spring and early summer there have again been signs sign s of an expanding tendency in operations building construction which has been a mainstay during the recent business reactions gives no sign of marked diminution bituminous coal mining continues much depressed but the output is increasing gradually and in the week of august 23 was the largest since march larch the textile industry has been one of the darkest spots in the business situation but here too the effects of reduced stocks are becoming manifest that there is nothing radically wrong with consumer demand is indicated by an S per cent increase in the total july sales of department stores in this thin district over a year ago raw silk has been improving steadily and broad silk mills have been gradually increasing operations in new england cotton mill operations have been on a gradual upgrade since july and reports recently have hav e indicated increased activity in ili many mills N which aich have been closed down or running part time in this industry a decline during the past month in the price of the raw material has been helpful the shoe business has also picked up and many plants are more active while tho the volume of railway traffic continues much below last year due chiefly to smaller load loadings ings of coal the loadings of merchandise and miscellaneous products have increased in recent weeks and have again exceeded those of last year tor for the first time since april bank debits continue to make a remarkably favorable comparison with 1923 notwithstanding that the general level of prices is substantially lower the volume of check payments outside of new york in the first tour four weeks of 0 august was 2 per cent larger than in the same period of a year ago throughout the summer and spring the testimony of bank debits has been that notwithstanding a large tailing falling off in some of the major basic lines of manufacture the total volume of business of the country has been maintained at a level not tar far below that of last year probably the continuation of active building has been the largest single factor in sustaining business but it is apparent also that the great bulk of the country count rys s industrial commercial and agricultural activities has varied far less than would seem to bo be indicated by the changes in some 0 of the tha widely fluctuating individual basic lines I 1 although improving crop prospects have checked the rise in prices ces of agricultural products the prices of 0 r grain and livestock are still at levels which could scarcely have been hoped tor for in the west several months ago and this continues to be a source of great optimism throughout the country prices or of such industrial materials as copper lead pig iron lumber rubber hides and wool have been firmer and the natural tendency of these advances la Is to encourage a resumption of buying as consumers ordinarily hold off until they feel that the turn of prices has been reached and then the movement tends to be cumulative in the other direction |