Evening star., 1934-02-25
TRADE DISTRACTED
BY MANY FACTORS
Gold Rush, Rail Wage Cut
Plans and Weather Are
Watched.

NEW YORK, February 24.-Busi-
ness finds plenty of distractions, ac-
cording to Business Week, what with
the transatlantic gold rush knotting up
the United States assay Office; the rail-
roads angling for the status quo by
posting Is per cent wage cut pro-
poSal; the motor manufacturers spot
ting watches at steel mill doors to
insure their quota of steel output;
persistent cold weather straining coal
dealers delivery capacity, stimulating
production, carloadings and electric
power production, but putting a
damper on the movement of Spring
merchandise, and the shifting of air
mail to Army carriers.
Moreover, the agitation for shorter
working hours continues, with Secre-
tary Perkins giving a mild approval
in principle, but cool reception to
any immediate tinkering with code
regulations, most of which provide for
40 hours. AS it is, hours worked in
25 manufacturing industries fall far
short of the code limit-averaging
only "a hours. Still, the underwear
industry is discussing the possibilities
OF shorter hours at its annual meeting
this week.
Retail Sales Mount.
In spite Of none too encouraging
weather in the Northern and Eastern
sections of the country, retail trade in
the first half of February is maintain
ing good pace. Dollar sales range
from is per cent to 35 per cent ahead
OF last year, with Southern cities do
ing relatively better than Eastern CEN
tiers. From Seattle to Los Angeles,
Dallas to Miami, Pittsburgh to Boston,
merchants welcome the turn of the
tide. Early Easter may be forcing the
seasonal peak forward, though conf
dence in continued improvement is
broadly expressed. With c. W. A.
funds expanded by the presidential
addition Of S150,000,000 to the $780,
100000 originally allotted, some fears
or purchasing curtailment are allayed.
Over 100000 were on C. w. A. pay
rolls in January.
Rapidly the steel industry Is ap-
preaching the so per cent of capacity
level Not only are auto and tin plate
makers appealing for raw materials,
but host of miscellaneous consumers
long out Of the market are adding
their bit to the clamor. Stove, wire,
nail and refrigerator manufacturers are
buying again. One important refrig-
orator builder found January ship
ments broke all records for the
month.
Rail Purchases Moderate.
Rail orders are lighter than one
might expect, considering the bargain
price of $50 375 a ton in face of other
price boosts. The Pennsylvania split
a So 3,0o0, 900 order among 81 compa-
MES for steel to be used in construct
ing 1000 new freight cars in its own
shops. Manufacturers had 80 un-
filled locomotive orders on their books
at the close of January, compared
with IA the preceding month. Still,
1884 promises to bring forth substan-
tial rail equipment business. P. W A.
continues to extend funds literally for
improving rolling stock. Following
the sensational debut of Union Pa
cificis new streamlined train, the
New Haven announces that it has so
streamlined coaches planned, to be
completely air-conditioned and gayly
decorated in the modern manner.
Chevrolet is making every effort to
catch up on Ford's 4,000-a-day output.
Already. a phenomenal stride to $500
per day has been made. and secret
hopes for 5000 are being nurtured
But that won't be before the new
equipment is put in place, sometime
in April. Other manufacturers are
farming out parts formerly made in
their own plants. Plymouth is break
ing production records. The motor
trade is more optimistic now than in
years, talking in terms of 270,000 cars
for February, 5000 for March, and
not shying at 100000 for April, if all
goes we'll
Steel Prices Unsettled.
Most encouraging aspect Of the
current lifting of the steel operating
rate is the knowledge that it repre-
sentS immediate requirements Of con-
sumers, with a negligible speculative
aspect. What second-quarter prices
will be in face Of the recent rumpus
from motor centers is still unrevealed.
The steel industry is hoping that
Gen. Johnson'S town meeting of
March will settle number of dis
puted points on price procedure in
favor of the present arrangements.
Soft coal production rose IL per
cent in January over December and is
% per cent above year ago Hard
coal shows even sharper recovery-a
38 per cent gain over December, and
60 per cent over January, 1888. Cur
rent railroad shipments of coal
(February 10) are rising, but in
spite of the unexpected demand for
coal, loadings fall more than 10000
cars below last year. Railroads, like
motor manufacturers in connection
with steel, are protesting lack of
favored treatment on coal prices, seek
m raOper tho SYhiactO