Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-11-19
POWER AND STEEL
OUTPUTS MOUNT
Slight Change in Prices Re.
ported by Department
of Commerce.
BY the Associated Press.

oS the associated PreSS.
Two important series-electric power
and steel -dissented from
the downward trend exhibited by the
majority Of domestic business indexes
during the week ended November IL,
the Commerce Department reported in
its weekly review of the situation.
Electric power output for the week
increased 81 per cent and the gain
over year ago was 6.3 per cent, as
compared with 3.8 per cent in the pre-
cedtng week. With the execution of
the Southern states, all regions re-
corded improvement, with the largest
relative gains in the Middle Atlantic
and Central industrial areas
Steel ingot production averaged the
same as a week earlier but the rate
at the beginning of the week of the
18th was stepped up to 81 per cent.
an advance of about per cent over
the rate week earlier.
Automobile production dropped he
low output year ago, as most COM
panles were nearing completion Of plans
Ior volume production of new models.
Bltumlnous coal, petroleum and lumber
production declined for the latest period
reported. Lumber orders, however. were
the largest in four weeks and were
ABOUT per cent above production, the
f1rst time this situation has existed
for some weeks.
Prices Irregular.
Prices moved irregularly during the
week, with slight change in the gem
eral average. Fishers index of 100
commodities dropped two-tenths Of a
point to 71.6 per cent of the 1926 ay-
erage, and both the agricultural and
non-agrlcultural components were low
err Cotton prices were up for the week
ana ana wheat futures were also improved.
Inc cash price of No. 2 red Winter
wheat at Kansas City was unchanged.
FINANCIAL markets were featured bv
the continued decline in dollar Quota
lions. The pound sterling advanced 10
S5.l5 against a low for the wear of
$3.50. Bond prices continued to fail.
with pronounced weakness in the high
est grade issues. Stock prices moved
higher for the week. Reserve Bank
credit outstanding declined, as Govern.
ment securities purchased dropped to
SlO,O00,O0O Member bank excess re-
serves were drawn down moderately
from their recent peak. Commercial
loans again moved upward, following
the temporary interruption Of the trend
In the preceding week. Money in cir
culatlon expanded in response to sea-
sonal demands. Bank debts, outside
New York City, continued slightly
higher than year ago, and have ex-
banded only moderately in recent
weeks.
Failures Again Up.
Commercial failures were again higher
for the week. continuing an upward
trend not unusual for this period of
the year. Current statistics on in
solvencieS still compare favorably with
the record Of recent years.
Available statistics on October retail
trade confirm earlier indications that
the movement was not measuring up to
seasonal expectations Department
store sales were lower in dollar volume
than in September. after allowance for
the usual change, and were the same as
a year ago, despite the price increase
IN the years interval. Chain store sales
also record smaller relative gain over
a year ago than in September. Mail
order houses made a better record than
In september, indicating an improved
trend In the rural areas.