Everybody Busy

Business in August was active all across the heat-choked land.

P: Carloadings for the first week were 2% higher than last August, mainly due to heavy shipments of grain and livestock, and a high volume of export traffic.

P: The value of U.S. exports including Lend-Lease material for the first half of 1944 was $7.2 billion--a new high.

P: Department-store sales were 4% over 1943, but merchants were cautious in placing orders for fall goods. The retailers fear: 1) a slump in sales as reconversion forces war workers off high-pay jobs; 2) a buyers' strike against ersatz goods, when production of better-quality civilian goods is resumed.

P: Output of electric power, soft coal and petroleum was higher than last year. Private construction awards gained 132% over last August; public construction awards were up 12%.

P: Steel production last week was 97% of capacity.

P: In the Midwest grain markets' persistent selling of futures forced wheat prices to less than parity despite CCC buying intended to shore up prices in face of the record crop. At week's end wheat was 18-c- a bushel under the 1944 high, but still 10-c- higher than last year.

P: Cotton prices were down. Reason: textile production continues downward despite the 48-hour week established by WMC in May. Daily raw cotton consumption in July was estimated at 35,800 bales--a drop of 12-c- since last July.

P: In the smaller commodity markets traders were discouraged by the continuing lack of shipping for imports of coffee, cocoa and sugar. Arrivals of these commodities were far less than importers had hoped for. The olive trade was stirred by news that a large cargo of olives was en route to the U.S.

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