Evening star., 1935-11-17
INDUSTRY CLIMBS
|. TO H|GHFOR YEAR;
STORE SALES RISE
Retail Conditions Favorable
for Opening of Holiday
Buying Season.
COLD SPURS SHOPPING,
DECORATIONS PREPARED
Christmas Activity Will Get Well
Under Way by Thanksgiving,
Authorities Believe.
BY RAIDER WINGER.


Associated Press Financial Writer.
A universal advance last week Of
business and industry, the most con-
certed forward movement since the
inception of the Fall season, swept
industrial activity to the highest peak
of the year and placed retail trade
in favorable position for the opening
Of holiday buying.
The unreasonable weather, which
has held consumer demand in check
for several weeks, gave way in many
sections of the country before Winter
winds, which revived the sale of heavy
clothing and other such necessities.
A Department of Commerce survey
of SO cities for the week ended We'd
nesday found retail trade ahead Of
1884 in Cleveland, Chicago, st. Louis,
Kansas City, Dallas, San Francisco.
Baltimore. Cincinnati, Denver, Detroit,
Los Angeles and New Orleans.
In many cities merchants prepared
Christmas decorations to enliven their
stores this week, and trade authorities
expected holiday buying to be under
way by Thanksgiving.
Home Building Unchanged.
Industrial activity, as measured by
the Associated Press index, gained to
82.5 per cent of the 1929-30 average,
the best level of the year, and in each
individual item of the indicator there
was an advance with the exception of
residential building, which remained
unchanged.
Although there is no precise gauge
Of week-to-week movements in retail
business, most observers declared there
were substantial gains last week over
the previous week in many districts,
with volume in the aggregate some 8
to Is per cent higher than the corre-
spending week of 1884.
Consumer purchases of automobiles
continued, and production last week
was estimated at a higher point
than at any time since the latter part
of May when Spring sales were at
nearly the best for the year.
Steel mill activity at 52.6 per cent
Of capacity was up IL percentage
points to very near the top for the
year Continued demand from auto
mobile manufacturers, additional con-
struction needs and a new interest Of
railroads in steel combined for the
rise.
Cotton Activity Mounts.
Cotton manufacturing activity again
reached higher. this time to 982 per
cent of the 1e29-30 average. and tex
tile traders noted tendency to flrmer
prices in many classihcations.
Electric power producers turned out
1913. $4,000 kilowatt hours for the
week ended November 9, another
period when more power was pro-
duced than in any previous week.
Freight carloadings declined at the
same time, but the loss was less than
anticipated
Machine tool builders in Cleveland
and New York continued wide gains
over the same period last year, and in
the Eastern market there were indi-
cations that the entire month of No
vember may top October by Is per
cent. The manufacturers noted
broadening demand for standard
items. the heaviest business of that
type so far this year.
General wholesale business was mod
erately higher than during the pre-
vious week and leaders were counting
on lower retail inventories to bolster
business in coming weeks.
On a broad scale there were many
major events during the week which
had little effect on business of the
moment, but which analysts antic-
| ipated as of major importance later.
Trade Hopes Raised.
Settlement of details of the United
States Canadian trade treaty by Presi-
dent Roosevelt and Prime Minister
Mackenzie King led to hopes of con-
siderable expansion of international
trade.
An increase in october shipments
of materials which might be classed
as munitions led Secretary Cordell
Hull to issue a warning against deal
ing in war supplies.
Observers at the annual convention
of the American Bankers Association
in New Orleans noted a recovery
spirit in the speeches of leaders which
both praised and condemned activities
of the Washington administration.
A Kentucky Federal district court
upheld the Guffey coal act, major
item of the Roosevelt program. but
there was no sustained reaction re-
corded in securities markets.
British elections, which returned
the Baldwin government to power,
went practically unnoticed in the
United States, so far as business and
industry was concerned.
Detailed Reports Given.
Detailed reports by Federal Reserve
districts follow:
BOSTON. - Retail merchants Of
Boston looked for better Christmas
trade than at any time since 1880,
and some believe it may surpaSs that
year. Wool sales fell sharply, while
unreasonable weather slowed the
movement of cotton goods.
NEW YORK.-Retail trade in the
metropolitan district was boosted by
cold weather. and the level again was
even with 1884. Heavy clothing was
speeded by low temperatures, and
home furnishings moved in heavy VOL
ume. Buffalo steel operations were
unchanged.
PHILADELPHIA,-W and rainy
weather again held back trade. VIM
ter necessities moved at slower pace
than expected for November. but de-
partment store sales were higher than
for the same week a year ago. Bank
clearings were 10 per cent under the
previous week but 20 per cent ahead
Of the 1884 period.
CLEVELAND. - Larger stores re-
lContinued on Fourth Rase.l