Evening star., 1935-06-30
BUS|NESSF0LL0WS.
SUMMER PATTERN
Seasonal Retail Activity and
Slight Lag in Indus
try Cited.
BY RAIDER WyNGET

BY RAIDER WINGET
Associated Press Financial Writer.
Commerce throughout the country
assumed q definite Summer pattern
last week with industrial operations
slackening slightly and retail trade
in seasonal merchandise surging for
ward when permitted by weather con-
ditions.
General business has been charac-
terized as steady by analysis and esti-
mates for industrial production In
june place the volume only moder-
ately under May. Standard Statistics
Co. estimated industrial production
in the first half of 1885 at more than
5 per cent ahead of the same period
In 1884.
Retail trade moved ahead in the
East and Midwest, evidenced q ten
dency toward slowness in the South
and was reported slack on the West
Coast.
Many June days brought rain and
reduced business to department and
other retail stores. bit weather last
week was generally favorable, with
the added impetus Of vacations, to
sell Summer supplies.
Auto Decline Small.
No sharp curtailment In automobile
production has been shown as yet.
Cram estimated last weeks output at
89037 units. compared with 90,561
units the previous week 1t has been
agreed. however. that July and Au-
gust should witness a reduction in
the speed Of assembly lines in prep
aration for production Of Fall models.
The fair rate of activity in woolen
textiles was reflected in the report of
the New York Wool Top Exchange
that May consumption. exclusive of
carpet wool. was 69,322, 900 pounds.
compared with 2S,901 900 pounds in
May, 1884. Last month also was sub
stantially above the previous month
Recently. however, the trade was dis
turbed by strikes closing seven mills
in Rhode Island.
The cotton goods business, on the
other hand, continued quiet, with
prices showing weakness last week.
Additional closings of mills are ex-
pected this week, with Midsummer
operations forecast at about so per
cent Of capacity in most lines.
Construction, which showed heart
ening activity in May. continued the
pace this month, with residential
building again leading the upturn.
Currently, however, non-residential
projects are reported by F. w. Dodge
Corp. as assuming a greater impor-
tance in the general building picture.
Lumber Trade Hesitant.
A note of hesitancy has been in
jected by strikes in the Northwest
lumber district and some sellers found
suggestions for price increases met
with a refusal to buy at this time, an
action which some quarters fear may
hold back projected construction.
Machine tools, another durable
goods industry, reported additional
orders last week with impetus from
n planned 10 per cent price increase
tomorrow on lathes and turret lathes.
The steel industry reduced its op-
erations last week to 37.7 per cent Of
capacity from 38.3 per cent, but elec-
trio power production for the week
ended June % was 1.8 per cent ahead
OF the previous week and reached the
highest seasonal point since 1929,
partly rejecting unusually dark.
cloudy weather.
Carloadings for the same week were
on 1871 per cent, principally because
OF a sharp cut in bituminous coal
mining due to easing Of the recent
strike threat, but all classes Of freight
registered reductions from the pre.
. vious week.
: Detailed Reports Given.
Detailed reports from individual
Federal Reserve districts follow:
BO6TON.-The leather market irmed
advances. but cotton trading was weak. weak
summer SUNNI goods moved slowly; Except for
pres wool ~hieh S
change. N'''e
- NEW YORK.-Retail trade in the New
YORK METROPOLITAN district was fairly act
ys on about sn 1.s even Level with 1884
FAN merchandise and additional summer
largest numbers In two months.
HuADE1PHIA.-.Retai trade Of the
TN thira & DISTRICT turned distinctly upward in
also reported an upsWina as retsilsss noasss
cIEvELANp.MIndustries ti Hsoels in Cleveland
sonsid.sIa6ly improved YounsstoWn .teel
opspat sraslCRs was eaLanced' o but Cleveland steel
ascending path. business registered unspec-
sssa. ss as:' ssas sS sas
steady. but above the record Of tie cor
per4e Of ,lsM sss year tr,d
: the sixth district, with department stores
crediting the decline to the Summer slump.
a, survey rs, showed howe truck crops badly in need
A 4S-hour holiday was declared on water
mel9n shiPments to stimulate prices.
'SasSs' %S the Esposfed
business particularly active. Railroads
chfsfI and rsh sSanHsa s to e M
output was I'D at mid-week and plans were
disclosed for two steel plant additions.
ssasonable Weather Helps.
ST. LOUIS-Retail trade picked up be-
cause OF more Seasonable weather. There
was noticeable improvement in Summer
goods. Buying through wholesale and
jobbtng channels. however. was largely on
necessity basis. Price uncertainties re-
taIded Advance buying.
MINNEAPOLlS.-Twen city federal re-.
eerve member banks reported S33. .000. 900
JUNE m sna Ms5 fs5 1 u buss.
was higher than year ago.
DALlAAS.-Ratns have changed the az
ficultural picture almost completely In
Texas In the last several weeks. Floods
have damaged crops to the extent Of S10,-
000, 900. county agents report. Sheep.
SAN FRANCSCO-Coast business con-
tinues ahead Of last year, but the margin
narrowed. The Northwest lumber industry
was hampered by strikes. Increased ac-
tivity was shown by oil fields. refineries.
power and telephone companies breweries
airlines and steam Shipping. but there
was slackening in freight trafnc and re-
tail trade.
KANSAS CrTY.-Retail sales were equal
to the previous week despite uncertain
weather. Department store sales were
trade was fairly brisk with Implement or
ders holding the spotlight. Construction
materials were in good demand. Hot
weather articles moved briskly.
Republic Steel