BETTER BUSINESS IN AMERICA.

Press, Volume LXIX, Issue 20862, 23 May 1933, Page 9

BETTER BUSINESS IN AMERICA.

MORE PRODUCTION. AGRICULTURAL PRICES RISING QUICKLY. IMPROVEMENT I'OK TWO MONTHS. I I (L'NiTKD IMSK.BS ASSOCI VI I> X -HV I'.I.EL'IJ I | TFI.EIJK.U'H COPYRIGHT.)' (Received May 22, 9.20 p.m.) NEW YORK. May 21. For the first time since the depression began the United States has enjoyed two months of uninterrupted advances in business and commerce, stimulating cheerfulness and confidence that domestic and international problems still pending are adjustable. The country's steel activities are approaching 40 per cent. of capacity; car loadings continue to rise; building operations are increasing, and wholesale commodity prices have risen, on the average. 12 per cent. Individual items have shown still more surprising gains. Wheat has risen 50 per cent., wool 50 per cent., and sugar 20 per cent. Farm commodity prices are rising four times more quickly than non-agri-cultural products, reversing a trend that has existed for years between the goods the farmer sells and those he buys. The Government figures show a 1 3-5 per cent, gain in employment in April.

Some idea of the extent and rapidity of *he upward movement in industrial activities is given by the figure for steel production—4o per cent, of capacity. On the authority of the "Hew York Times" business index, which is regarded as very reliable, steel production for the week ending March 25 was only 14.6 per cent, of the estimated normal—or little better than one-third of the sent figure. This was probably the lowest level touched during the depression. At the beginning of April, 1932, when American business was estimated to be about 10 per rent, better than in March, 1933. steel production was at 25.2 per gent, ol normal. The combined business index of the "New York Times" was moving slowly upwards at the end of February, 1933, when the American monetary crisis sent it down to a new low level. As the banking situation improved, the index recovered, and if other indexes have moved in anything like the same way as steel production, is probably higher now than at any time since early in 1932, when it was steadily moving down to the low level of last winter.