Weekly Market Review And Farm Outlook - page 2. 



*'^ to go that high is a favorable factor from the farmers* point of view. 

 Actually, prices will depend upon the domestic demand, quantity of 

 exports and the effapt of the loan program. In a su2?prise move, the 

 House Agriculturstl Committee voted Thursday for loans at full parity 

 on principal farm products. It is too early to predict how it will 

 be received. 



Canada adopted drastic control of commodity prices and wages 

 this week, to become effective November 17 . Maximum prices were set 

 and m some cases also minimum prices. Wage rates were established 

 subject to bonus payments every three months on the basis of a 

 cost-of-living index prescribed by the Dominion government. Limi- 

 tations on wages and prices in defense industries have been in effect 

 in Canada since December, 19^0. It was necessary to include non- 

 defense industries and agriculture in order that there could be no 

 competition for labor and materials which would interfere with the 

 Canadian armament production program. 



Business activity - Activity is continuing at a high level 

 in the United States; employment and pay rolls are both increasing 

 rapidly with pay rolls outstripping employment. Both are at the 

 highest level on record. For example, the factory employment index 

 in New York State in August was 26J per cent above the 1929 peak, and 

 the index of pay rolls was 36 per cent higher. Likewise, for the year 

 .August, 19^0, to August, 19^1, factory employment in the United States 



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increased 23 per cent and pay rolls increased ^9 per cent. 



Department store sales for 19ifl are running substantially 

 ^ ahead of 19^0. For the New York federal reserve district the most 

 substantial increases in sales during the year ending August, 19^1, 

 occurred in sales of hosiery, underwear, furs and fur-trimmed coats, 



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