Better Business

While the economic tinkering of Congress and the inflationary spurts of grain and stock prices last week made spectacular excitement, more fundamental good news appeared in at least two industries.

Henry Ford stepped up his output from 2,000 to 2,500 cars a day. Chevrolet sales lumped from 10,000 to 14,000 to 17,000 cars in three successive ten-day periods and were expected to top 50,000 when final April returns were compiled. Plymouth reported 6,000 men on its payroll, just twice as many as in March. And these increases took place on top of the fact that during January, February and March the automobile business had already sold as many cars as it did in the same three months of 1932. Automobiles require steel but automobiles alone were not responsible for last week's improvement in the steel business. Steel operations which began April at about 15% of capacity, closed the month at nearly 30% capacity, biggest one-month jump since 1930. In some districts such as Cleveland they were reported at over 40%. Not only did prices for scrap steel mount but manufacturers of hot strip and sheet steel boosted their prices $2 a ton. Increased purchases were reported for virtually all classes except structural steel. Economists found more real hope in steel's upturn than in all inflation talk.

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