Curves in Table No. 3 show a comparison of kilowatt hour sales to arge industries only for the years October 1934 inclusive" and envoy a fair conception of the pr ut industrial activity in Shanghai, will be noted that except for the months of February and March, 1934, industrial activity is higher than 1 the preceding years and is con-rining at this date to show that the oluume of industrial activity is higher ian in any of the preceding years. accurate and sensitive indicator of the volume of industrial production.
Cotton Mill Indices there is a great deal of interest in the activities of the cotton mills it is interesting to examine the "kilowatt hour sales to that industry as shown in Table No. 4.. This clearly demonstrates that except for the month of February, 1934 and a temporary reduction in July, 1994 the "volume "of" industrial activity during 1994 to date is ahead of anything experienced in the past. The curves demonstrate the curtailment of production—in 1933 which took place in May and continued until September after which production returned to normal and showed an increase over the previous years.
'The examination of kilowatt hour sales to other Industries shows clearly the activities of the partly cular industry. Flour mills during the early part of 1934 show a considerable reduction in' production but since May have been running the same general average main: tained in 1993 and in mos, instances higher than in the previous years.
Rubber mills on the whole show gyqfishtly less production than' in Manufactured ice reflects the extremely hot summer. The business shows an increase over any previous
Text read from the printed page and cleaned; old type leaves the occasional error.