Evening star., 1935-01-27
Construction, Steel, Auto
Centers Continue to
Report Upturn.
TEXAS FARMERS SUFFER
SEVERE BLOW TO CROPS
Wholesale Business Is Active.
Cotton Cloth and Lumber
Outputs Checked.
BY RAIDER WINGET,
Associated Press Financial Writer.

The sum of gains and losses regis
tered by business and industry last
,week eased into level looked upon by
Nationwide reports as satisfactory in
view of conflicting developments.
A high tide of activity surged over
the year-end, and it is now leveling
Off under the influence of an expected
seasonal business increase.
Cold weather and heavy snow in
many sections deprived retailers of
some trade. In Chicago an especially
sharp reversal was indicated, and
Kansas City merchants reported 4
per cent decline from the correspond
ing week in 1884. Bitter cold in
Texas caused millions of dollars loss
to stockmen and vegetable growers.
Reports from construction, steel and
automobile centerS were most heart
ening of trade guides
Construction contracts for the first
half of this month we're Is per cent
over the December daily average with
residential work leading the van.
Alterations claimed most attention of
workers.
Steel Demand BrOadens.
Steel demand broadened with opera
tionS up 2 percentage points to 491s
per cent of capacity. The prod from
high automobile production was less
sharp last week with Grams estimate
OF 69,409 units produced showing only
a slight rise over the previous week,
but jump of 25,ll3 units over the
same week of 1894.
A gradual increase in auto output
is anticipated, but a materials Short
age hampered some producers. I'm
easiness was felt over labor, which
opposes extention of the labor code
after February l.
Electric power production, up "a
per cent for the week ended January
10 over the same week a year ago,
also recorded small seasonal gain
over the previous week. The move
ment Of revenue freight shot ahead of
the usual seasonal rise for the same
period. The movement of general
merchandise, coal and forest products
lead the total of the January 10
week IT per cent higher than the
previous week.
Fall Below Expectations.
Cotton cloth and lumber produc-
ton for the week ended January 10
was below expectations. Snow ham,
pered the lumbermen. who were
cheered by stacks of orders in excess
of production.
The general cold weather, some
times boon to merchants, hurt more
than it helped last week. The vol
ume of sales, much higher than last
year at this time, nevertheless was
punctuated by a reported slowness.
In many sections it was simply a case
of deep snow keeping people at home.
wholesalers, on the other hand,
continued their heavy business.
Although there was some concern
expressed over the Supreme Courts
pending decision on the gold clause.
most observers reported the effect of
the delayed decision was confined
largely to foreign exchange trans
actionS.
Reports from individual Federal Re-
serve district follow:
BOSTON. - Cotton and Woolen
sources in the first district reported
business less than normal, but hides
and feathers were firm with the calf
skin market irregular.
RICHMOND. - Snow cut retail
trade, but merchants in the fifth dis
trict noted an increased heavy goods
sale after the storm. Baltimore car
loadings increased over last year but
exports declined. Construction was
reported more active.
Snow Slows Up Trade.
NEW YORK.-Retail trade in the
New York metropolitan area was
slowed by deep snow, and even sea-.
sonal merchandise was reported late
in moving. More buyers were regis
tered last week in the wholesale mar
ket than year ago, a continuation
of the 1885 trend. In Buffalo, steel
operations were up percentage points
to A per cent of capacity.
PHILADELPHIA. Activity in
wholesale divisions in the third dis
trict was above retail trade. Mems
clothing orders were Is per cent above
year ago, and interest was strong
in women's Spring suits. The paper
industry welcomed rising demand;
orders for shoes, already at high
level for four months, rose more
rapidly. Biggest manufacturing gains
were shown in coal, iron and steel,
farm equipment and textiles. Coal
shipments were 10 to 20 per cent
ahead of last year. Manufacturers
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