Indianapolis Times, Indianapolis, Marion County, 19 November 1937 — Page 19

FRIDAY, NOV. 19, 1937

HOLIDAY BUSINESS OUTLOOK IS BRIGHT BUT TAX RELIEF

|S TERMED KEY TO FUTURE

(Continued from Page One)

few weeks. Outlook uncertain, de-

pending on action taken to revive | business by current session of Con-

gress. A more optimistic picture of the future is seen in several They are: Record-breaking income of Indiana's farm groups for the year. This means an impetus to trade in Indianapolis, business center of the state. Major industrial expansions in Indianapolis, adding to the already acute housing shortage, making a

building program almost a certainty |

in the spring of 1938. Definite assurances by the President of business tax relief, and hope for a declaration of the long-range policy he expects to follow.

Good Holiday Trade Foreseen

Observers have forecast a successful holiday season in the hope that the present slump will not be permitted to continue unabated. Here is how officials of three large department stores view the local situation: ‘Our store has enjoyed the best vear the depression days of 1533. We look for a better holiday season than we enjoved last year, as

since Since

good, if not better,” one said. |

sources. |

cordance with the unchanged policy | of the company, continues at work.” | industry

These samplings from | are reflected in the increase of applications filed with the Indiana State Employment Service.

| Job Seeks Increase

| Although officials assert the un-| employment trend does not appear |

in their records for some months |after layoffs first begin,

the average for October.

| As against an average of 10 per cent seeking skilled labor posts dur-

ing the last three months, the aver- | lage for the two weeks has leaped to |

| 20 per cent, statistics reveal. Placements are below those of a year ago for October, although | August and September of 1937 were lequal to, or above, the same months 'a year ago. The total number of job seekers during October was 573. The num{ber of applicants in the first two weeks (exact figures are unavailaible) of November run higher than the similar period for any of the three preceding months, said Relief Rolls Also Rise

It is impossible to forecast the |

future,” he continued.

to do with the trend. Of all the fac- | tors that bear upon this situation, | the tax program is particularly important. ! ‘Yet if Congress repealed the cap- |

ital gains and undistributed profits | narily the case, persons employed on |

taxes, business would need the additional assurance that no new levy would be imposed striking at some new source of trade ! ‘With this assurance we believe industry in general, upon which our | trade relies for most part, will be

given new impetus and prospects for | firms has laid ooff 300 employees | “New cases expected because veneer

the coming year will be bright,” he concluded. { Government Held Key Another executive said prospects for the holiday season, at the moment, held promise of being “as good or better than last year.” | “The situation is changing every day,” he added. “We can't predict with certainty what the situation will be a week from today‘The forecast hinges upon governmental policies toward business. Business wants to know where it stands. what to expect from the Administration. The uncertainty is holding up progress, causing the recession in industry that we feel in our business. Ours is the same condition that af-| fects the 4200 similar establishments throughout the nation. Congress’ must repeal or modify the capital | gains and undistributed profit taxes and must promise to let business go ahead unimpeded.”

“We believe | : : ] Government policies will have much | responding rise. In Marion County, |

Relief rolls are showing a cor-

the case load rose from 8406 in August, 1937, to 8710 in October. At the same time, WPA labor remained constant, indicating the new relief recipients were not, as is ordi-

public works programs. Observers for the Governor's Commission on Unemployment Relief made the following reports this week: Howard County . .. “case load to be increased . . . layoffs by steel

within last two weeks . . . from 25 to 50 new cases expected for November , ,.” Monroe County . . . “case load increased 95 in October over September due to layoifs at mills and stone quarries . , . strike at furniture plant. , .” Perry County . . . “increase this month to date is 45 cases . . . cotton mills shut down; ordinarily employ 350 men. . Lawrence County . . . “only 250 of 1037 employees of stone mills now at work . . . shirt factory employing 600 persons during 1936 now has

already | there has been a 5 per cent increase | in the number of job seekers in the | first two weeks of this month over |

officials |

| experienced with the approach of

THE INDIANAPOLIS TIMES

More Power to You, Archimedes!

Rowerdl 2h,

| September , . { November. . « . La Porte County , ., “increase of 125 cases . . . 50 per cent attributa- | ble to factory layoffs . . . estimate 100 new cases for November because of continued layoffs and seasonal | factors. . « ug

| Floyd and Clark Counties ...

. load to increase in

textile industries practically these employ bulk

Farm Prospect Bright

The bright spots in this picture are in the farming communities, | where relief loads are expected to | increase only to the extent usually

only 100 working . . . relief situa-) winter.

tion serious . . . Allen and Wayne Counties . . . “largest industries have dropped 750 employees and many

ment on downward trend , . , demands for relief are high , . .”

others | working only part time . . . employ- |

The utilities are just beginning to | | show effects of the current slump. | | Averages for the industry are still well ahead of last year. Figures released by the Indianapolis Power & Light Co. reflect an in-

| crease in kilowatt hours of power

Bartholomew and Johnson Coun- | and volume of customers over a

ties . . for 30.5 per cent increase in relief

. “factory layoffs responsible i year ago for the month of October.

There has been a decrease, how-

A third store official likewise pre- | 102d increase in October over ever, in the volume of power sold

dicted a good holiday season. | “I will not say business at the | mement is better than it was a year ago today, but at present I feel that our holiday season will be better than that of last year. “It is a spotty outlook. The situation hinges to a great extent upon industrial activity. If that keeps| sliding back, we must expect a loss in retail sales. A few months ago we should have been optimistic | about the future.” No complete index is available as to individual industries within the city, but representative manufacturing concerns reflect the trend that is shown in trade figures nationally. James B. Willard, Diamond Chain Co. outlined the general conoutlined the general conditions in the basic industries of Indianapolis. «Within the last few weeks we have been forced to lay off approximately 100 men, hired early this year when production was making progress. “While my views do not represent those of the company, I can see several factors playing an important part in the industrial picture. Tax Policy and Labor Blamed

“Two of the traceable causes for a drop-off in our business are found in the Government's tax policy and jabor unrest. It has given rise to a fear that infects other employers throughout the city and nation. “Not for a long time have I seen so many skilled men seeking employment. “This uncertainty is reflected in our business. Formerly we were able to predict our volume for six months ahead. Today, from a volume that was as good as the%peak year of 1929, we are falling off to a point where we hesitate to forecast cur production beyond the first cf the year. Fortunately we shall be able to retain our regular force until the close of the business year.”

Outlook Called Bad

WwW. A. Myers, Prest-O-Lite Co, Inc.. personnel director, said the recession since the latter part of Sepsmber has occasioned a drop of 13 per cent in total number of plant employees. “Orders have fallen off since then. We have been forced to lay off approximately 150 men, many of whom were extras. “We have not attempted to analyze the underlying causes for the slump,” he asserted. “We have some ideas on that score, however. The best we can say is that at present the outlook for the next two months is bad. Unless something happens in the near future, prospects for next year are even worse.” E. Hardy Adriance, personnel director of Eli Lilly & Co., explaned layoffs there resuited from compietion of several specific jobs. “We have let out a few men,” he said. “But they ware employees hired to do a specific job and that work has been completed. Our business remains steady and is not influenced by trends affecting other industries. Our regular force, in ac-

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from September to October, 1937. A year ago, October's sales were ahead of those of the previous month. This marked the first halt in the general

upward trend of the industry since the low point in 1933. Power company officials said the decrease was attributable to falling cff of industrial production. They felt improvement would be shown if Congress indicated that industry would be permitted to expand without interference. The Citizens Gas & Coke Utility

sales, statistics reveal.

reported a continued rise in the number of gas users in all classes— industrial, domestic and commercial—during the year. Volume of sales has continued upward during the last few months, although the rate of increase for inaustrial users has not kept pace with that of commercial and domestic

consumers. During the last two weeks industrial recession has affected coke There has

been a drop of more than 15 per cent in sales of coke for foundry use.

Streetcar Traffic Rises

Indianapolis Railways showed a | steady gain in the number of pas- | sengers carried. A comparison of the three-months figures for Au- | gust, September and October, 1937, | against a similar period last year, | reflects a steady rise in passenger traffic. Charles W. Chase, company president, said fuvture of the industry seems bright “provided general

business conditions and employment remains at high levels.” Indiana Bell Telephone Co. figures reflect a continued rise in telephone installations over a three- | months period. The rate of rise, | however, has fallen off in the last | month in comparison with gains | made during the same period a year ! ago. Officials predict slow progress in| { this field, held in check by the gen- | | eral business situation. Stimulus to | industry, they say, will have its ef- | fect in an upswing in the utility.

Water Sales Decline

| | The Indianapolis Water Co. reported a dropping off of customers | during October. The general aver{age for the business remains well | above that of last year, according to company figures. | Officials said the use of water for | industrial purposes had fallen off recently although no exact figures | were available. They felt prospects for the year would be bright with | a renewal of industrial activity and | the home-building program sched- | juled for next spring.

| The building industries are cer- | tain of a good season in 1938. They feel the extent of the program hinges upon action to stimulate industry and trade.

Realtors Are Optimistic

Urban Wilde, of the Indianapolis Real Estate Board, said the industry looked forward to a great potential market in middle-class field, the $5000-house range. “There has been little building in this field for the last five years,” he said. “The housing shortage is acute | in the middle-class field.

“Our national organization Is working out a program in conjunction with the FHA that will make terms more attractive to persons in this category.

“Although construction has been | on the rise during the past year, we | feel there is a vast, untouched field here that can be attracted.

“With the industrial growth of the city in the next few months bringing an influx of new residents, the building program is certain. Business conditions will determine the extent of progress we can make in { 1938.”

Auto Sales Trend Indefinite

In the automotive industry spokesmen have predicted a better sales year after the current Auto- | mobile Show than last year. This | will bring renewed industrial activ- | ity, they said. ! Reports of the local agencies show (Turn to Page 20)

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