Industrial Output Reaches New High
The Federal Reserve Board reported yesterday thatj the NationÛªs industrial output index increased from 1121 in July to 113 in AugustÛÓa new record, though it was! the smallest monthly advance since March.	I</br></br>The Federal Reserve Board reported yesterday thatj the NationÛªs industrial output index increased from 1121 in July to 113 in AugustÛÓa new record, though it was! the smallest monthly advance since March.	I uct was 13 per cent greater than it was in 1957, which represents 100 in the index. It was the sixth consecutive monthly rise, from a low point; of 102 in January and Febru-j ary. The pre-recession peak' was 111 in January, 3960.</br></br>Steel mill operations rose only normally for August, the Board said, as steel output was ilmited by model changeovers and labor negotiations in the auto industry, but steel mill gains early this month exceeded seasonal expectations.</br></br>In another report, the Federal Trade Commission said sales and earnings of manufacturing corporations showed a sharp improvement in the second quarter of this year, compared with those of the first three months.</br></br>The FTC-Secunties and Exchange CommissionÛªs joint quarterly financial report said June quarter sales reached an all-time record of $89.8 billion, compared with $82.6 billion in the previous period and S88.1 billion for the 1960 second quarter.