Evening star., 1935-07-28
TRADE CONTINUES
ADVANCE DESPITE
SEASONAL SIGNS
Retail Sales Maintain Rise
Over 1934-Summer Goods
Moved Rapidly. :
UPTURN is SURPRISE
IN BASIC INDUSTRIES
Steel Mills Boost Production.
Construction Total Remains
at Higher Levels.
BY RAIDER WINGET.
Associated Press Financial Writer.

in some lines of business and industry
were more than offset last week by
highly favorable reports of expanding
activities in many lines.
Retail trade in the country as o
whole expanded slightly from the pre-
vious week and maintained gains
shown for some time over the levels
during this same time last year, but
there were minor receSsions in few
large centers because of adverse
weather.
Merchants declared Summer mer-
chandiSe was moving rapidly of the
shelves to consumers, and in the larger
wholesale centers there was increasing
interest in Fall lines.
Basic manufacturing and service
industries for last week and the pre-
vious seven days evidenced a strong
up-turn wholly unexpected for this
time of year.
Auto Output of Slightly.
Automobile makers ran 82,594 cars
and trucks off assembly lines, as es-
timated by Grams Reports, Inc. COM
pared with 1925 in the previous week.
Although there was a slight decline
in production, analysts pointed to the
output of 59,412 units during the same
week of 1884 to indicate advances
made in 1885.
Some authorities contended the
slight recession last week was the
beginning of the expected Summer
decline and would continue until
production of Fall models opens in
November. A closing of plants for
inventory is anticipated shortly.
Construction work continued at an
accelerated pace, although some re-
ports saw a slight drop in the total
because of weather conditions.
Steel mills boosted production from
399 to 42.2 per cent Of capacity to
meet demands from rails, tin plate
mills, farm implement manufacturers
and miscellaneous lines. Motor max
ers came into the market and there
were reports that the steel manu-
facturers themselves were enlarging
their stocks.
weekly business survey declared: In
the agricultural areas a strong de-
mand for farm equipment was re-
ported. with some absorption of un-
employment in seasonal occupations"
Coal Truce Extended.
The strike truce in the soft coal
field was extended through efforts Of
Federal officials Lumber production
for the week ended July 20 was up
slightly on a total actual basis, in
spite of a continuation of the diff
ficulties between workers and employ
erS.
Bank clearings for leading cities
of the United States increased "a per
cent for the week ended Wednesday
compared with the same period of
1884 For the week ended July 20,
freight car loadings were higher than
the previous week, but lower than the
1884 week, while electric power output
advanced ahead of both the previous
week and the same week of last year.
Electric power output, which has
been edging forward for some time,
again reached a new high level for
this year and in the Associated Press
adjusted weekly index was slightly
higher than the average for 1929-30.
The cotton textile industry'S posi-
tion on a curtailed basis continued
about unchanged. although there were
reports in buying centers that the
tendency of mills to shade" prices
aided in moving stocks. There was,
however. no admitted price cutting.
The import-eXport fraternity was
disconnected by the abrupt swings of
the Ira, because of Italy's abandon
ment of the 40 per cent gold backing
of sight liabilities of the Bank Of Italy,
and of the guilder, because Of the fall
of the cabinet which favored strict
government economies and retention
of the gold standard.
Detailed Reports Given.
Reports from individual Federal Re-
serve districts for last week follow:
BOSTON-While the shoe industry
anticipated a good Fall upturn, tex
tile production continued normal with
sales slow. Wool demand was less
active. General retail trade was re-
ported by the Department of Com
merce as slightly increased.
NEW YORK-Retail trade in the
metropolitan district Of New York
continued upward with gains Of 6 to
8 per cent registered over 1884. There
was a late season rush in some ltnss,
especially apparels. The number Of
buyers in wholesale markets was
slightly under the previous week, Lut
Fall purchases continued about un-
changed.
NEUTRALITY-SUSPICIOUS. build
ing showed a decided upturn in sec
tions near Philadelphia, although ac-
tivity was quiet in the city. Retail
trade was unchanged on hot-weather
basis. For the first three weeks of
July, department stores gained 8 per
cent over 1894.
CLEVELAND-Steel operations
climbed, and large machine shops re-
ported big gains ranging up to 70 per
cent of capacity. Department stores
sales in Cleveland increased from the
previous week. Good crops were fore
cast.
Building Gains Widen.
ACKNOWLEDGEMENTS appear
ed as the dynamic factor in fifth 0is-
trict business. Other indicators were
steady. Retail trade maintained a
fairly firm tone, and debitSko indi-
vidual bank accounts were@Messur-
ably above 1884 figures.
CHICAGO.-Increased wholesale ac-
tiyity in the Chicago district was reported
and business gained through greatly In
creased demand for Fall clothing. Orders
from retailers for Fall lines in women's
dresses, suits, coats and sports wear gained
25 to go per centAover 1884 with busi-