Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-08-25
Weather and Transitional
Period Fail to Check
Retail Upturn.
AUTO OUTPUT SHOWS
ONLY MAJOR DECLINE
Steel Production and Scrap Prict
Rise Further-Cotton Trade
Halls Loan Move.
BY RAIDER WINGET,

Business and industry rose last WeeB
above disconcerting developments IN
some sections and registered an ag.
gregate improvement in the country
as q whole.
Reports from various authorities on
the status of retail trade were
irregular, but sales to consumer ap-
peared on the whole to be in larger
volume, despite the handicaps OF
weather and the transitional period
between Summer and Fall buying
habits.
On the side of basic industries, the
drop in automobile production to
50,585, as estimated by Grams, from
$685. the previous week, was the only
notable recession.
Motor makers were not uniform In
their schedules. Some were closed for
inventory and adjustments, others
curtailed production during adjust
ments and a few maintained O re-
stricted seasonal output.
The Associated Press index of indus
trial activity advanced to 1877 from
1871 the previous week.
Basic metals during the week we're
active. Steel production rose OF of
one percentage point to 4s.8 per cent
of capacity. Those in the industry
reported output still was lower than
demand. and several plans were re-
vealed for heavy orders in the near
future.
The price Of scrap steel, regarded
by many economists as fundamental
barometer. continued to rise.
Copper Price Jumps.
Copper in domestic markets opened
the week with jump to 8.5 cents a
pound, an increase Of half cent, and
buying Monday was in the largest
volume recorded in many months.
Back Of the price rise was an increase
in foreign copper.
In addition to steel and copper, the
buying volume OF lead and zinc was
considered good, and lead prices were
boosted So a ton.
In the cotton trade q number Of
authorities looked upon the WASH
ington compromise between producers
and handlers as astute. Experts said
farmers would be assured of l2-cent
cotton through a Government gift Of
the difference between the average
spot price and IL cents a pound, while
the fixing Of 9-cent loan limit was
not regarded as likely to hamper
futures markets or the export trade.
Losses in the futures market for the
week we're 1915 to $3.50 bale.
Cotton Activity Mounts.
Cotton manufacturing activity in
creased during the week, and the tex
tile market In New York was firm
in the latter days of the week fol-
lowing q broadening demand at the
start.
Car loadings for the week ended
August II advanced to a point higher
than the previous week and above
the corresponding week of 1894, the
ninth time this year the total has
been higher than the same period of
the previous year.
The movement Of coal and Fall
crops on a general scale and citrus
fruits from the Pacific Coast were
credited as fundamental factors in the
advancement.
A report in sharp contrast with
the additional movement was that
for the July net operating income of
the carriers, which was down 80 per
cent from July of 1884.
Continuing its advance Of recent
months electric power production for
the week ended August II again
reached a record high for that week:
residential construction continued its
climb In the first two weeks Of this
month to a volume slightly larger
than the previous II days.
Detailed Reports Given.
Reports from individual Federal
Reserve districts follow:
BOSTON.-A heavy demand for
hides and wool developed during the
week. Advancing hide prices led to
predictions Of a general increase in
retail shoe prices. Retail trade
volume was slightly under the previous
week but ahead of a year ago.
NEW YORK.-Retail trade In the
metropolitan area was Disappointing
to merchants, who ascribed the con-
dition to hot weather. The total was
estimated at S per cent under 1894.
Fall orders continued in good volume
and attendance at merchandise shows
was large and sales heavy. Buffalo
steel operations rose to 81 per cent
of capacity.
PHILADELPHIA. - Textile indus
tries stepped up production, while shoe
manufacturing also took q squirt. Con-
struction activity was reflected in .
greater volume of sales In building
materials. Retail trade was quiet, but
anticipated for q Septem-
Der pick up.
CLEVELAND. - Business In the
fourth district continued upward
with clothing, textiles and machine
tools leading the way. Retail sales
were above the average for the last
of temporarily, but Youngstown was
up. Employment was unchanged.
Richmond Report Cheerful.
RICHMOND. - Retail trade was
spotty, rejecting seasonal influences,
but heartening reports were given on
Fall sales in wholesale lines. Balti-
more and Richmond led In gains In
bank debts to individual accounts, Is
per cent over the previous week and
20 per cent over 1884.
. ATLANTA.-Stimulated by o re-
ported early buying Of Fall clothing.
retail trade continued to improve in
the sixth district. A mounting whole
sale activity followed the retail swing.
steel operations were I'M
changed at SIS per cent Of capacity.