Evening star., 1935-07-21
Industrial Pace Maintained.
Steel Operations Rise
to 39.9 Per Cent.
AUTO OUTPUT is HELD
AT s3,255-UNI1 MARK
Increased Buying at Wholesale
Centers Indicates That Stores
Are in Need of Stock.
BY RAIDER WINGET,


retail demand forward in most sections
Of the Nation.
Contrary to general expectations,
industrial activity was well maintained
in some Of the key production centers
of the country and there was no un-
precedented collapse in the rate Of
operations in major lines.
Closely linked in the industrial pic
ture were automobile and steel produc-
ton rates.
Steel makers operated their plants
at 399 per cent of capacity, as per"
centage points higher than the pre-
vious week, and analysts saw no indi-
cations of the usual sharp mid-Sum-
mer slump for that heavy industry.
1t was stated in some quarters that
steel held its position without particu-
lar benefit of the motor industry which
in the past few months has supplied q
large portion of the demand. This
was regarded as a healthy sign Of the
times.
The auto manufacturers themselves
sustained production rates surprisingly
| last week with an output Of 1926
units, as estimated by Grams, COM
pared with S3,450 for the previous
week.
A sharp drop had been expected In
view of past experience. and, as re-
suit, the production on a seasonal
basis was at the third highest point Of
1885.
Fall Upturn Expected.
If the automobile output is main
tanned, it is declared by authorities
the Fall upturn N steel centers should
get underway about month before
the usual time.
The movement of Summer goods In
retail stores in good volume was re-
| ported by merchants in most sections
Of the country, although local influ'
enceS, such as adverse weather condi-
tions, retarded sales in few cities.
Outside of the current retail situa-
ton, the Department of Commerce in
its survey for the week ended July IL,
reported "that in many places
groundwork for more promising con-
ditions has been in process of forma-
/ ton for a number of weeks"
Definite evidence of this condition
is seen in reports from wholesale CEN
ters. such as Chicago and New York
that buyers are showing increasing in
terest in Fall merchandise, an interest
which has increased value as tradt
barometer when coupled with indica'
tions that retailers shelves are in neee
of stock.
Furnishings manufacturers markets
in Chicago reported buyer attendance
above all recent records, the American
furniture mart showed a peak above
any mark of the last 10 years, and the
merchandise mart recorded attendance
double of that in. 1884.
The gray goods market in New York
was shaken by the court decision
against processing taxes. Prices held
then weakened Buyers were reluc-
tant to make purchases ahead.
Textile Industry Pauses.
The cotton textile industry paused
on news of the. court ruling to take
stock of the entire situation.
A sharp gain. was shown, in the
movement of freight across the coun-
try for the week Of July Is, but the
1919 per cent increase was attributed
to the holiday of the previous week
On a daily average basis, there was Q
slight reduction and the total was g.
per cent under the same week Of 1884
Electric Power production, however
for the week of July Is was ~ pei
cent above the level of year ago, ano
the Associated Press adjusted weekly
index of this department stood at 100
highest point of the year and equal u
the 1929-30 average.
Lumber production likewise rose In
that period when contrasted with the
holiday week, but the Western centert
still contended with strikes.
Detailed Reports Given.
Detailed reports of individual Fed
eral Reserve districts for the last week
follow:
BOSTON-The cotton textile in.
dustry marked time awaiting develop
ments in the goods market. Prices
generally were firm and sales were
picking up when uncertainties entered
the market. More wool activity was
reported and prices were steadier. A
favorable reaction followed the Boston
shoe fair. Few price rises obtained.
NEW YORK.--Retail trade in the
New York metropolitan area was up
slightly over 1884, but wholesale buy
ers were reported taking dry goods
requirements only for immediate needs.
Some buyers went home empty handed
to await future trends. Buffalo steel
operations were up II points to 81
per cent Of capacity.
| PHILADELPHIA.-B activ-
ity slipped into its dull Summer gait
with retail sales about steady. De.
partment stores reported business
about 2 to 3 per cent under 1884.
Wholesale trade stepped up with SUBJ
stantial orders entered for Fall goods
CLEVELAND.-Stee volume was
down in Cleveland and up in Youngs.
town. Retail trade ruled steady with
Summer supplies moving in good vol
ume. General business and the EN-
ployment situation was reported un-
changed from the similar period OF
1884.
RICHMOND.-Swelling construction
activity frightened the fifth district
business picture, with Baltimore resi-
Dental construction the best in i've
years. Real estate men reported the
return of the speculative builder. Re-
tail trade was strong.
| KANSAS CTTY--Conttnued hot weather
aided retailers, and wholesale markets
| advanced slowly. Construction and I'm:
| plement sales were better than seasonal
| by trade authorities,