Evening star., 1928-11-16
CONTINUED GAINS
IN INDUSTRY SEEN
Sales Trends Indicate Re-
mainder of Year Will
Be Prosperous.
BY J. C. ROYLE.
Special Dispatch to The Star.


NEW YORK, November 16.-The
holiday trade special has clicked over
the last of the preliminary switches
and is gathering speed on the main
line OF merchandising. This is graft
flying to merchants, manufacturers and
business men in general, since it is on
the holiday trade that a successful
wind-up to this remarkable business
year depends.
Indications based on reports today
from all the main divisions of the
country point to the best season the
Nation has ever known, and, with such
boost to industry, the early months
of 1929 are likely to be on an equally
satisfactory plane. Retail trade today
Is approximately 10 per cent larger than
at this time last year.
This is due, without doubt, to the
remarkable purchasing power of the
Nation. The men engaged In industry.
especially the basic industries such as
steel, building and automobile manu-
facture, have more money to spend
than ever. The farmers have more
cash than they had a year ago, but
not great deal more. The drop in
income suffered by some farmers
among them some Of the cotton grow
ers-has been compensated in most sec
tions. however, by greater profits from
live stock and from dairying.
The pickup since the end Of october
in retail sales has been much more
rapid than a year ago, despite the elec-
J tion-day interruption. The amount OF
money spent, as reflected by bank
debts. indicates that the peak for the
year will be reached shortly The in
crease has been felt in nearly all Sec
tions of the country, but less extern
sively in New England and some of
the Southern cotton-growing States
than elsewhere. Even in those sections
there are numerous localities where
splendid gains have been made.
Steel mills are maintaining re-
markable level of activity considering
the time of year. Prices are very firm
and the outlook is being bolStered by
the fine prospects of business enter
! tanned by the steel consumers, among
them the agricultural machinery con-
Germs, the electrical equipment manu-
facturerS, the automobile trade and
construction of various kinds.
There have been several price SlaShes
among the automobile manufacturers,
but 1t seems quite evident that these
have been announced in order to clear
stocks of old models before the new
styles are shown the public at the
January shows
Some of the weaker industries are
picking up a trifle. There is better
demand for cotton textiles, and woolen
mills in some sections are working at
top speed, with deliveries far behind
orders. The oil situation is showing
steady and healthy improvement, with
drilling operations resumed in the
Seminole field. The anthracite industry
is finding a better market than it has
had since the last ill-advised strike.
and even the bituminouS coal mines
are doing trifle better.
The situation Of the non-ferrous
metals has shown little change in the
last week.
! The apple, peach, grape and potato
crops in some sections were very large
| and returns from them have not been
always satisfactory, although the posi-
ton of canned goods in general is
advantageous.
Jewelry manufacturers have had fine
| pre-holiday sales, and the demand for
costume jewelry and for pieces COM
posed of artificial gems is enormous.