New York, Dec. 1.
Expectations of the carrying-out} of large scale construction programmes during the coming year have obscured the depressing influence of the business situation during the past week, according to reports received here' from several Federal Reserve Bank centres, Remarkable stability is reported in several districts, with slight! recessions in others, in spite of the generally gloomy.tendency which was brought about by the recent crash on the stock market, Reports show that only the auternative and the steel industries are the cause for any present anxiety, The retail trade is pronounced to be in good condition. The radio industry is operating at full capacity.
As time goes on it is becoming increasingly apparent that the impact of the stock market debacle was felt over an unprecedentedly, large proportion of the population. More than ever before in the history of American finance, the man in the street had been dabbling in stocks, and the crushing effect of the drop was correspondingly absorbed over: a wide area, in pushing constructive activity will, however, eliminate unemployment to a great extent and thus prevent extremes of poverty from becoming apparent, though for many' people the "silk' shirt period" is over for a time at least—United Press,
Text read from the printed page and cleaned; old type leaves the occasional error.