Evening star., 1935-02-17
Gold Uncertainty and Late
Spring Season, Technical
Reaction Also Cited.
MORE RETAIL BUYERS
AT WHOLESALE CENTERS
Whether Influx at New York,
Chicago Has Been Felt by Fac.
tories Unknown as Yet.
BY RAIDER WINGET,


Business hestitated last week, made
few forward gestures. but generally
settled down to await developments.
Reasons were diffused over a wide
area by sundry analysts. Fingers
pointing the cause were turned toward
Congress, the Supreme Court. tech
nical reaction and late Spring sea-
son.
Orthodox indices bent their trend
away from the rise which started in
the latter months of 1884.
Steel production, as measured by
the American Iron and Steel Institute,
dropped from 528 per cent Of capacity
to sos. Some attributed the move to
technical reaction caused by stocks
on hand, and others said the steel code
tended to limit production at this
time. Most estimates were conserva-
tive as to future trends.
Carloadings registered decline
counter to usual small seasonal gain
for the week ended February 8. Mer-
chandise IN less than carload lots and
forest products were the only items
showing weekto-week gains.
Power Production Gains.
Electric power production gained
slightly Tor the week ended February 9
from the previous week. The advance
was measured both in actual output
and comparison to the usual small
seasonal rise.
Automobile centers continued to
count an increasing number Of units
coming from assembly lines, but the
82,l19 cars as estimated by Grams was
not so high as recently expected by
some for this time of year
From the lumber centers the news
was encouraging with production in
creases of more than seasonal proper
tions reported for the week ended Feb
ruary 9.
Federal market analysts reported q
leveling of of production in some in
dustries N contrast to the steady climb
evidenced in January, but most lines
Of activity registered points comfort
ably above this period in 1884.
Retail trade last week exhibited no
concerted action for the entire coun-
try, and various sections saw advances
or declines in total sales depending
on local conditions. Almost all sec
tions, however, cited current totals
well above the same period Of last
year.
Little hesitancy was exhibited by
the retailers themselves in shopping
in wholesale centers for Spring mer-
chandise. Chicago and New York
distributors reported the number Of
buyers in the market substantially
above previous weeks and the same
period of 1884.
Whether this influx Of buyers has
been felt by manufacturers OF con-
producers are geared to short notice
production, and any hesitation dis
played last week could be wiped out
by demand from wholesale centers,
commentators believed.
Detailed Reports Made.
Detailed reports for last week by
Federal Reserve districts follow:
BOSTON-Wool and cotton centers
In the first district were stagnant,
with buyers interested only in imme-
diate requirements; wool sales were
| half the normal weekly average, but
, the leather market was about steady.
Boston retailers reported business a
bit better than seasonal.
NEW YORK.-Monday and the
Tuesday holiday trade was reported by
retailers in the New York metropolitan
district to have been slightly better
| than a year ago, and for the entire
week trade was generally better.
Wholesale markets got of to an active
start and maintained a relatively high
level for the week. Dry goods jobbers
were cautious in placing orders, a
condition attributed to the possibility
Of an impending price drop. Trade
statistics were confused by the late
| Easter for 1885.
, PHILADELPHIA break In the
weather caused store sales In the third
Continued on Fourth Page)