Evening star., 1935-12-15
Retailers Report Increases
Over 1884 Ranging From
10 to rs Per Cent.
MOTOR CAR PRODUCTION
is EQUAL TO MIDYEAR
Some Other Lines of Industry Set
Best Pace Since First Year
of Depression.
BY RAIDER WINGET,
Associated Press Financial Writer.

Americas retail trade reached fGll
flower last week, in many cases sp-
preaching or topping the level Of any
year since 1929, while some lines Of
industry thundered along at the best
rate since the first year Of depression.
Retailers in almost all cities found
business much better than last year,
the gains ranging from unestimated
margins to 10 to 25 per cent.
Pacific Coast and Chicago district
surveys uncovered predictions that a
final check of trade will disclose that
current Christmas shopping is the
greatest in six years.
Merchandising authorities believe
number of cities will find last week
the highest of the year, but in the
majority of cases the remaining Gig It
shopping days before Christmas are
regarded as a potential record-breaker.
The Associated Press index Of indus
trial activity, adjusted for seasonal
variation. stood at .36.7 per cent Of
the 192e-30 average, this years high
est, with automobile production Ia
week and freight carloadings for TIL
previous week establishing new highs
for 1885
Motor car output. at 103 per ce 1
of the 1929-30 average on a seasonal
basis, recorded a unit output equal 10
midyear.
Grave Fears AIIayed.
Grave fears of economists that intro
duction of 1886 models at this tine
might take the edge of the usually
high first-of -the-year sales apparently
| have been allayed with reports that
production schedules for January and
February indicate no belief that re-
cession should set in heavily enough
to disrupt the industry.
/ Such a condition is heartening 10
steel makers who depend upon auto
mobiles to take some 20 per cent OF
their production. Last week opera
tions in steel mills declined TO 55.7
per cent of capacity from 56.4 per cent
the previous week, which was the
years high, a move expected at this
time of year and in line with the
usual year end let-down. Maintenance
of auto production is counted upon to
materially benefit steel operations
after the turn of the year.
/ Freight LOadings Jump.
Freight carloadings for the week
ended December Z resounded from the
THANKSGIVING holiday week to 637.-
1873 cars, gain Of III per cent and
considerable more than expected in
the normal course of trade.
On a seasonal basis. carloadingS
we're at I'll per cent of the l929-39
average, highest for this year and the
best since November of 1881.
From that source, too. steel locke !
for orders because higher carloading5
mean greater revenue and greater
revenue means an acceleration in the
replacement of equipment.
A casualty during the week was the
st. Louis Southwestern, which sought
reorganization in St. Louis under sec
ton n of the Federal bankruptcy act
when it was unable to meet maturing
interest payments.
Power Output Higher.
Electric power production for the
week ended December gained 5 per
cent over the previous week and 13
per cent over year ago to an output
within striking distance of 100000
600 kilowatt hours.
Cotton manufacturing activity and
residential building remained un-
changed but were still close to their
best marks for the year.
World wheat markets were upset
when the Argentine government peg
ged its price at about 89 cents a
bushel, some 81 cents higher than
the 1885 minimum price paid to a
farmer in that country. Prices in the
United States and other wheat grow
ing countries Immediately were ad-
justed sharply upward.
Silver moved in the other direc-
ton in international centers when
the United States Treasury withdrew
its support and refused to bid for the
metal in the London market, which
promptly folded up and quit for the
day. That started the decline which
continued all week for a net loss of
4% cents an ounce on bullion in New
York. The last price was 6075 cents
an ounce.
Detailed Reports Given.
Detailed reports on trade in Fed"
eral Reserve districts follow:
BOSTCN.-Holiday retail trade
continued generally above a year ago,
and wholesale markets were fairly
firm. The activity in hides increased.
and the movement of cotton from
mills to retail outlets was relatively
heavy. Wool sales dwindled; prices
were firm.
NEW YORK.-Retail trade in the
metropolitan area neared the peak of
the season and wholesale centers were
preparing for January sales. A final
rush of mail orders deluged the mar
ket. Furs and jewelry we're especially
active at wholesale and retail. IN
certainty over the A. A. A. and lower
silver dampened dry goods.
PHILADELPHIA-R trade con-
tinued advancing in the forepart OF
December, increasing nearly Is per
cent over 1894 figures. Unusual gains
were noted in luxury goods. Factory
output. however. did little more than
hold its own in most lines.
CLEVELAND Retail trade showed
substantial gains over last week and
about 10 per cent over 1884. Steel
betterment was attributed to auto
motive demand. Auto parts. tire pro-
ducers, builders and electric power
companies improved operations. To-
ledo employment was estimated at 40
per cent over year ago.
ACKNOWLEDGEMENTS expansion
of holiday trade promised to give ne