The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1930-02-15
SLIGHT GAIN 5
SEEN FOR
INDUSTRY

NEW YORK, Feb. 14.-Trade
and industry showed q steady and
general trend toward improvement
during the week, although in some
instances the gains were very
slight, Bradstreet's will report
Saturday.
Mild weather throughout the
South and Southwest and in much
OF the central North and West
furnished a stimulus to retail
trade, which appeared to be only
slightly below the level Of q year
ago. Women's clothing sold some
what more freely, whereas mems
wear seemed to lag.
Wholesale business displayed
less actual improvement, but
there was little more optimism
in evidence than earlier in the
year, the slowly rising level of en-
ployment and the partial recovery
OF prices for cotton and cereals
from the low points touched In the
preceding week being encouraging
factors.
Among the industries, steel con.
tinues to play the most prom.
inent part. The gain In mill
week than in January, but plants
week than in January, but plpants
at Chicago were working at 90
per cent Of capacity, while East
ern centerS were at about rs
per, cent. The average for the
entire industry was 70 per cent,
as compared with n per cent in
the preceding week and around
30 per cent year ago.
The activity in the Middle West
was largely the result Of con-
tinued heavy buying of cars and
track requirements by the rail
roads. Automobile buying of steel
has improved, but is chiefly Of
q hand-to-mouth character.
Steel prices are firmer and
scrap quotations have again ad-
vanced. Copper has been in less
demand. but firm in price, while
the other nonferrous metals have
been rather weak.
Reports from the automobile
industry point to a further slight
expansion Of operations by makers
Of cheap cars, but continued
policy Of caution in the higher
priced field. Machine tool and
agricultural implement manufac-
turerS were fairly active. Coal
demand and mine operations
were held down by the generally
mild weather.
Building has not, as yet, shown
any signs Of responding to the
stimulus Of low-money rates. Re
ports from 1872 cities on the
value of new building for which
permits issued during January
revealed a decrease Of go per
cent from the preceding month
and Of 48.7 per cent from the
like month year ago. New
York city showed gain Of 29.5
per cent over December, but q
loss Of 6S.7 per cent from Jan
uary Of last year.
The lighter industries present
an irregular picture. Silk and
rayon plants are fairly active,
while there is still considerable
curtailment in the cotton.goodS
factories. Raw wool prices ap-
pear somewhat firmer, and there
has been a little more activity
in that line.
Shoe manufacturers in the
Middle West seemed more dis
posed to increase plant opera
lions than do those in the East.
Leather markets have been rather
dull. Furniture manufacturing
has not been very active.
Retail trade statistics for jan
uary show a gain Of 81 per cent
in sales Of chain stores and mail
order houses, as compared with
the like month a year ago. This
was the smallest percentage Of
increase for any month since
April, 1923. Department-store
seles were per cent smaller
than in January, 1928 .
Marked improvement in bust
ness and industrial conditions
was revealed in the weekly survey
of the Department of Commerce
issued yesterday.
For the first time In several
weeks there was a marked gain in
the volume of money turnover,
as reflected by check payments,
bringing the total above that for
the corresponding week Of 1929.
Steel plant operations contin-
ued their Improvement, a gain
being recorded for the sixth sue
cessive week. Operations were
still below the 1929 level.
At the same time reports being
received by the National Bust
ness Survey Conference are ex-
tremely optimistic.