Evening star., 1935-07-07
Holiday Booms Store VOL
umes, but Brings Factory
Suspensions.
JULY SALES PROMOTIONS
HELP TO SPUR BUYING
Wholesale Lines Take Course
About Midway Between-Sum-
mer Slump Believed Started.
BY RAIDER WINGET.

1nQeptHucnCe udy SpllI GIle NetIUH
business last week like a firecracker,
booming retail trade higher but blow
ing general industrial lines into lower
levels of activity.
Almost every section Of the coun-
try reported mounting retail sales dur
ing the first three days of the week
prior to the national holiday and Fri
day resumed the forward plunge in
many cities with the launching Of
July sales promotions.
Industry, however, suspended OPP
erations for the holiday with conse-
quent impairment of progress figures.
Some analysts predicted the break
definitely would start the heralded
Summer slump" which should mark
the turning point of general industrial
activity into the usual doldrums before
the expected Fall revival.
Wholesale lines charted course
about midway between retail trade
and general industry. There was a
drop in some centers, with trade in
the aggregate described as quiet" but
there was increased activity behind
the scenes as firms prepared for re-
orders of Summer lines and the OPEN
ing demand for Fall goods.
Building Holds Gains.
Up to the eve of independence day
the Department of Commerce report
ed continued improvement in the
construction field. In substantially
every part of the country building
permits we're in larger volume" the
department survey declared. Resi-
Dental construction predominated."
The production Of automobiles broke
sharply to 59,380 units. as estimated
by Cram, compared with the revised
production figure of 88.537 for the
previous week The holiday. coupled
with shut-downs in some plants for
inventory. caused the drop.
On a long-term basis some con-
servative commentators declared the
outstanding aid to business was the
rightist trend of the death sentence"
in the utility holding company bill
and the compromise on the banking
bill were held out as reassuring to
business.
Production of steel fell to 32s per
cent of capacity last week from 37s
per cent the previous week, but an
alysts declared the rebound this week
would be substantial. The recession,
it was pointed out, was less than ex-
pected.
Although electric power production
decreased for the week ended June 20
from the previous seven days. the fall
was less than anticipated. There was
per cent increase from the same
period of 1884.
Freight car loadings for the week
ended June 90 advanced 50,i89 cars
over the previous week, but the total
was lower than either 1884 or 1888
during the same period.
Textile Output Curbed.
Cotton textile manufacturers eased
into scheduled curtailment with the
industry as a whole producing at less
than so per cent of capacity. Con-
trary to that trend was the sale Of
some lines of textiles which picked up
considerably.
From outside the United States on
the holiday came news that broke the
wheat market and presented a world
wide dilemma. The Canadian wheat
board directed policy of selling its
accumulated holdings and the Ameri-
can market in the next two trading
days chalked up net losses, fearful of
oversupply.
On the production end Of the food
supply system, however, the Depart
ment of Commerce stated; with but
few minor exceptions, crop conditions
were favorable"
Detailed Reports Given.
Following are detailed reports of
individual Federal Reserve districts:
BOSTON.-While cotton prices re-
manned unsatisfactory, good sales
raised hopes that covering move had
started. Wool and leather markets
were firm. Department store sales
were strong, it was found by the De-
partment of Commerce.
NEW YORK-Retail trade regis
tered substantial gains, but wholesale
centers in the metropolitan district
were quiet. Buyers stayed out of the
market. but Summer recorders were
anticipated. Holding attention were
post-holiday sales plans.
PHILADELPHIA distinct up
turn in retail trade in the final two
weeks of June was carried into July in
moderate measure. Wholesale houses
received steady but small orders Tex
tile production has been curtailed in
cotton, silk and rayon.
CLEVELAND.-An upturn in retail
and residential building we're bright
spots in the fourth district. Pay rolls
and employment figures were down as
were steel operations because of the
holiday. Rain aided vegetable and
fruit crops.
Fifth District Gains.
RICHMOND.-Despite the holiday.
there was strong forward surge of
fifth district business. Retail trade
was brisk, building activity pro-
nounced, and bank debts scared to q
seasonal peak. Exports at Baltimore
passed the $1,00o,000 mark.
ATLANTA.-Retail trade marked
time with heat blamed. Bank clear
ings increased somewhat. Southern
home building and private construc-
ton was reported on the upgrade and
tobacco growers were heartened by re-
ports of impending price increases.
CHICAGO-Independen day inter-
rupted a rather brisk retail trade with
business reported good the first three days.
surprising" and another house noted .
per cent increase in the amount OF the
average order.
ST LOUIS.-warmer weather resulted
in increased demand for seasonal goods.
Retail trade In rural areas still vas i'm
peded by crop uncertainties. Real estats
was reported more active than any time