Evening star., 1935-12-01
Retail Business Gets Away
to Flying Start for
Busy Season.
BUYING IS STIMULATED
BY FAVORABLE WEATHER
Weeks Gains Over 1884 Period
Range From 2 to 20 Per Cent.
Factories Kept Busy.
BY RAIDER WINGET,
Associated Press Financial Writer.

Retail trade broke away for a flying
start on the first lap Of holiday busi.
ness last week, and industrial activi.
ty increased its speed to the highest
notch since the peaks of July, 1888.
All reports on merchandise distribute
ton were favorable for the week,
which included the Thanksgiving holi-
day, and merchants in many sections
were still of the opinion that the total
for this year end will be the greatest
in several years.
Industry in a similar vein responded
to the recovery stimulus. end induS-
trial activity. as measured by the ASs
sociated Press seasonally adjusted ins
dex, stood at 84.9 per cent of the 1929.
80 average.
One week in July Of 1888 was higher
than the current point, and the next
comparable level goes back to Septem-
ber of 1880, when the index crossed
IS per cent.
On retail trade, the Department Of
Commerce. in its weekly survey for 81
key cities for the week ended Wednes.
day, said:
Shopping in Full Swing.
Holiday buying was in full swing
throughout the country during the
week, with retail sales at almost uni-
formly higher levels than last
year.
Weather conditions were generally
favorable, a factor that accelerated
the sales alike of holiday wares and
Winter merchandise"
In the various Federal Reserve dis.
tricts, the margin last week over the
same week Of 1884 was variouSly re.
ported from or per cent to 10 to 20
per cent, and some individual stores
made much more startling gains, com.
pared with last year.
Although automobile production was
estimated at somewhat lower levels
last week because of the holiday than
the previous period, the total volume
is much greater than ordinarily ex.
pected for this time of year.
Steel mill activity gained to 55.4 per
cent of capacity in operations, against
53.7 per cent the previous week. Pro.
ducers studied the reaction of con.
sumers to the decision not to increase
prices at this time. Some steel de.
mand was occaSioned by the desire Of
consumers to place orders before the
predicted rise.
Cotton Plants Active.
Cotton manufacturers kept pace
with the additional demand brought
about by Christmas trade, and activity
was at the rate Of 1907 per cent Of
the 1929-30 average, as measured BY
the Associated Press index.
Carloadings for the week ended No.
vember % also advanced, joining
autos, steel and cotton in establishing
new high marks for 1885 in the ASso-
ciated Press index.
The indexes of electric power pro-
duction for the week ended November
% and residential construction for the
period ended November % eased slight
ly from the peaks Of this year.
News developments during the week
had little or no effect on the ponder.
Gus trend Of business and industry
generally. but Interpretation of events
influenced the more sensitive com.
modify and security markets.
Laval's Victory Hailed.
The victory Of Premier Lavals eco-
nomic DEGREES before the French
Chamber of Deputies reassured finan-
cial men, but partially offsetting that
was the increasing tension in Italy
evidenced by the Is per cent boost in
the Ira price of gold within the
country.
Power utilities and the Federal Gov
ernment squared of for definite test
Of the public utility act of 1885 when
several major utilities sought to have
the act declared unconstitutional and
the Securities and Exchange Com.
mission sought to compel one large
utility to comply with terms of the act.
An outstanding indication of corpo-
rate activity came from railroads.
From reports SO far made public net
income for October of s32,000,000 is
indicated, the greatest total for that
month since October, 1880.
The end of the depth of depression
and the peak of Federal Government
expenditures were signalized by Presi-
dent Roosevelt in a speech In Atlanta.
Detailed Reports Given.
Detailed reports on business in
Federal Reserve districts follow:
BOSTON. - AS primary markets
Slackened, Christmas retail trade
picked up, and local sources reported
gain of approximately 10 per cent
over last year. The wool market
eased, but cotton continued active.
Leather trade slackened.
NEW YORK.-Retail trading In the
metropolitan area was up per cent
during the week, and November was
even to 3 per cent higher than the
same month a year ago. Wholesalers
rushed to fill Christmas recorders.
Buffalo steel production rose 3 points
to 40 per cent of capacity.
PHILADELPHIA found
business rejecting healthy holiday
activity, and retailers generally are
encouraged by developments In indus
trial conditions in recent months.
CLEVELAND.-Retail trade gained
sharply over the previous week and
showed an increase over the 1884
week. District banks noted additional
demands for pay roll money, rejecting
added employment. Automobile &C.
cessory and parts plants were active.
| RICHMOND buyir9 moved
briskly ahead in the fifth district last
week, causing an upsurge in whole
sale business as well. Prospects for
heavy holiday trade were encouraging.
Bank debits veA substantially ahead