Evening star., 1935-11-24
Industry Also Sweeps Aside
Retarding influences in
Broad Advance.
HOLIDAY TRADE RISES
TO RECORD PROPORTIONS
Obstacle of Unreasonable Weather
Removed in Many Sections.
Retail Sales Soar.
BY RAIDER WINGET,

Business and industry swept aside
retarding influences last week in q
broad rally which extended gains to
the best levels Of the recovery drive.
Retail trade rebounded when the
fetters of unreasonable weather were
released, in most sections of the Ma
ton, and in addition to the current
advance there we're almost universal
reports of impending holiday trade Of
peak proportions.
The Department of Commerce In
its survey of 33 key cities for the
week ended Wednesday declared: Re-
tail trade in substantially all parts
of the United States moved forward
on a wide front.
More favorable weather conditions
released large volumes of deferred
buying in many centers, while the
week witnessed the advent Of active
holiday shopping in several impor-
tant areas"
The department also recorded: "a
distinctly improved tone prevailed in
wholesale markets in the principal
reporting cities"
Toy Activity Above 1884.
A holiday note resounded in toy
manufacturing, now at production
zenith in the East and some 10 per
cent higher than the 1884 volume.
Industrial activity, as measured by
the Associated Press index, was 83.4
per cent of the 1929-30 average, the
highest point in five years with the
exception of the extraordinary period
in July, 1888.
Automobile production was slightly
higher last week than the previous
week. and maintenance of the volume
was regarded in informed circles as
proof, so far, of the wisdom in intro
ducing 1886 models late this year in
stead of early in 1886.
Steel mill activity, as reported by
the American Iron and Steel Institute,
gained IL percentage points to 53.7
per cent OF capacity, the additional
operations being based, in the opinion
of authorities, on actual demand
rather than speculative buying.
Cotton manufacturing activity eased
slightly, although textile prices in
principal centers were reported firm.
For the week ended November l6,
electric power production was l.3 per
cent higher than the previous week
and 146 per cent above the same week
year ago.
Freight LOadingS Down.
A reduction in the movement OF
miscellaneous freight cut carloadings
for the November l6 week to 628,3 $3.50
cars, a recession of greater proportions
than expected for this period Of the
year.
Most important development Of the
week for general business and industry
was the announcement of details of the
American Canadian trade treaty which
slaShed tariffs on both sides. Of the
boundary line on wide list of COM
modities.
For trade as whole, both nations
anticipated an increase over the low
levels Of the past few years, but there
was a mixed reaction from individual
organizat tions, tending for the most
part toward approval.
In the utility field, the Common
wealth & Southern Corp, Consolidated
Gas Co. and United Gas improvement
Co. challenged the utility regulation
powers of the Federal Government. A
test of Federal persuasive powers was
seen in the request by Secretary of
Interior Ickes that oil companies halt
further shipments of petroleum to
Italy.
At the same time, dividend news
from corporations continued more
cheerful than for many year, and the
volume of trading on the New York
Stock Exchange for the week was tho
best in nearly two years.
Detailed Reports Given.
Detailed reports on business In
Federal Reserve districts follow:
BOSTON.-Retai trade improved
slightly to reach the 1884 level, al
though merchants hopes for a larger
advance holiday trade were dinmed.
The wool market and cotton textiles
slowed bit, but prices were firm. One
firm sharply increased shoe prices.
NEW YORK.-Retail trade in the
metropolitan area turned higher under
the impetus of early Christmas shop
ping and was 10 per cent better than
year ago. Machine tool orders were
spotty. Wholesale food houses expert
enced rush of buying in preparation
for Thanksgiving.
PHILADELPHIA.-A substantial
pickup in retail trade occurred in the
week of November 16. wholesaling was
dull, but factory activity was unchang-
ed. Heating and ventilating equipment
producers reported the best Fall busi-
ness in four years.
CLEVELAND.-Retail trade gained
slightly, and merchants anticipated
sharper increase with cold weather.
Wearing apparel factories operated az
capacity on Spring lines. Steel demand
was bolStered by automotive demand
and general requirements. The ma.
chine tool industry held well with
october.
Fifth District Gains.
RICHMOND.-Retail trade, invig-
GRATED by cooler weather, rose substan-
TALLY above the previous week and
slightly exceeded a year ago. Bank
debts were Is to rs per cent higher
than 1884 figures.
ATLANTA.-Winterw weather and the
approach Of Christmas sent retailing
to the highest point in several months,
with all lines Of merchandise seen
moving in good volume. Birmingham
steel operations fell sharply to 46.8 per
cent Of capacity.
,,,s ,MsiNNEAApOLlS'-Wholesale ,S.A trade and
GIT merchandise rose TO 10 per cent over
year ago and merchants expect q hols
iday business ] 8 to 20 per cent over 1884
Flour shipments in the last four weeks
Eere 20 Der cent greater than o EeAx ESQ.