Evening star., 1926-11-20
S[0W|NG0F TRADE
IS HELD SEASONAL
Abundance of Money Shown
by First Christmas Hoh.
day Shopping.
By ]. C. ROYLE.
pecial Dispatch to The Star.


NEW YORK, November 20.-There
is ample money available. That fact
became apparent this week when the
6rst holiday shopping began to have
its effect on retail trade.
Merchants In nearly all retail lines
report increased sales, even in the
South, where 1t was feared the cotton
situation might check buying This
Of colder weather, but the real reason
Ia. the treme endous volume Of buying
power. now possessed by the public.
Business apparently has shown a
clearer perception in the last week
shat the decline in some lines Of in
dustry is seasonal and that II ie
healthy rather than an alarming
trend. This is specially true OF the
automobile industry. In Detroit, In
dustrial employment has dropped to
212,o34 in the last week. compared
with .24S year ago. But last year
the high point was reached in the
last part of the year while in 1925
1t occurred in the Spring. The indus
try is spotty Some makers are doing
a tremendous business while others
are facing the probability OF consoh-
dations to cut costs.
Machine Trade Good.
So far as manufacturing in general
ie concerned, the demand for machihe
tools and equipment gives strong as
surance Of stability Of conditions. ms
ts true even in the textile and shoe
trades. There Is a seeming tendency
in the textile industries toward consoi-
ltion as evidenced by plans for merg-
ing the Pepperell and Massachusetts
cotton mills and consolidating the
Nashua Manufacturing Co. with the
fremont and Suffolk mills of Lowell
It is notable that most of the com
NAMES involved have plants both In
New England and the South.
The steel industry, while not operat-
ing at as high a rate as a short Tune
ago, is performing in Thoroughly
normal and healthy manner and the
volume of iron ore arriving gives as
surance that steel company executives
have faith in continued activity in the
next few months. In the Midwest
mills are exceedingly well engaged.
The opening of the Corrigan Mckln-
new Steel Co.'S bar finishing mill has
enabled that center to quote prices
(, o, b. Cleveland instead of being de
pendent on the price of finished steel
at Pittsburgh.
The volume of actual construction
contracts let continues high above the
level established last year at this time
Applications for new building permits
have declined 4 per cent as compared
with 1925. Building material prices IN
general are steady although lumber is
somewhat depressed. This Is due to
the prepondarance of public building
work in which less wood Is used than
In residential construction.
Chemical Business Steady.
The cold weather has spurred sales
of industrial alcohol for use in auto
mobile radiators. Rasic chemically are
fairly steady, but the cotton situation
in the South has initiated against fer
tilizer sales in that section. The
smaller grain crops have resulted in a
slight drop in buying impetus in the
Northwest. Live stock men have
done we'll, although the number OF
hogs sent to market has fallen OF.
The packers, however. are by no
means enthusia site over their profits
on hogs and pork products.
Wool sales are hesitating because OF
the wide divergence of opinions be-
tween buyers and sellers. The sellers.
however, are in a position in many
instances to hold on to their clips
until a favorable market occurs. The
question Of what effect any Govern
ment restriction on Cuban sugar pro
duction will have on the long.term
future of sugar is still an open one.
The market during the week was
quiet.
Rubber, which is subject to foreign
government restriction along lines
similar to those which may be en-
ployed in Cuba, is showing remarkable
steadinegs owing to the fact that sup
plies for the next few months at least
will be ample and tire manufacturers
are in favorable position. There has
been a better tone in the non-ferrous
metals, due to the allaying of anxiety
about 1927 trends.