Index

Wall Street's passenger traffic has shrunk according to these figures given out by Interborough Rapid Transit Co.: Fares Collected, first four months: 1929 1931

Wall & William Streets.. 4,084,000 3,891,000

Wall & Broadway 4,386,000 3,882,000

A mental attitude "engendered by the performance of the securities markets" was blamed by Iron Age last fortnight for the slackening of steel demand. Production last week was averaging a shade under 40% of capacity against 41% the week before, 70% in the same week last year. Scrap steel prices reached the lowest levels last week since December 1914. At the end of May 105 blast furnaces were in operation, a loss of eight for the month, and only 33.4% of the total. The course of the automobile industry is expected to affect vitally future steel operations.

Automobile production for the first half year is now estimated at 1,700,000 units against 2,309,000 in the same period of last year. But the second half is expected to show a smaller rate of decline than the second half of last year, and a total of 2.900,000 units for 1931 is forecast. Last week General Motors' dealers took more cars than during May 1930. But GM's retail sales were 122,000 cars during May against 131,000 in May last year.

H. H. Franklin Manufacturing Co. resumed operations after a two-weeks' halt. Unfilled orders are 10% higher than a month ago despite the fact that normal shipments were made during the shutdown, and deliveries to dealers in June have been 10% ahead of the same period in May.

Electric power production last week was running about 3% under 1930.

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