Evening star., 1926-11-29
HOLIDAY RETAIL
TRADE QU|CKENS
Wholesale Operations Slack.
en- Due to Approach of
inventory Season.
By the Associated Press

Dy Vie Ae5OCl6tcu IIcsS
NEW YORK, November ga
quickening of retail trade coincident
with the start of holiday buying and
a slackening of wholesale operations
due to the approach of the inventory
season were contra sting features OF
last weeks business activities. Few
changes of Importance were noted In
the Industrial situation aside from the
season let.down in production.
With the end of the year in sight.
1t has become increasingly apparent
that new high records would be es
tablished in the sales and earnings of
many important companies. with an
aggregate industrial output of impress
sive proportions. In some cases dis
appointing Autumn business was more
than offset by an unusually active
Summer
The underlying stability of condi.
tions has been emphasized by the
smoothness with which year-end re.
adjustments are being made. Another
big jump in the Governments cotton
crop forecast to nearly 18,500,00
bales failed to disturb the market s
equilibrium and was even followed by
improvement in the price of the
staple.
Emergency Measures i'm Force.
Emergency measures already have
been effective in halting the threat
ened ma arket disruption and in steady.
ing conditions in the textile field.
Sales Of automobiles recently have
shown tendency to increase, despite
further curtailment Of production.
The last week or two Of the year
probably will find many plants closed
down for inventories and for changes
in models preliminary to the opening
OF the automobile shows. Prospects
OF more intensive competition next
year were brought before the indus.
try by persistent reports that Henry
Ford would enter the six and eight
cylinder fields.
Railroad earnings for October in
some cases have been disappointing
although increases so far have out.
numbered declines. Freight traffic
meanwhile has begun to fall off
although not In sufficient volume to
have any serious effect Millions of
dollars were added to the wage bills
Of the railoads last week through
increases in the pay of shopmen. An
other important wage question, involv-
ing conductors and trainmen is to be
decided by arbitrators early next
month.
Equipment Orders Heavy.
The prosperous condition Of most
railroads led last week to the placing
OF large orders for equipment One
Of the leading manufacturers reported
that 1t had four miles Of locomotives
to build, and a steady flow of con-
tracts for other types Of rolling stock
passed from the carriers to the equip
ment companies.
Developments affecting the petro-
leum. sugar and copper markets were
mainly favorable. Strenuous efforts
are being made to reduce the crude
oil output, in some cases through
prorating agreements. The restriction
OF the Cuban sugar crop continued
to send prices for this commodity up
to new high levels for the year I'm
derlying conditions in the copper trade
remained satisfactory. although Brit
ish interests withdrew from the re.
Gently formed International Export
Association.
Quiet conditions prevailed in the
steel industry, with new buying linn
tied and operations pared down to be-
tween Is and so per cent of capacity.