Evening star., 1935-03-10
OPTIMISM RULES
MOST REVIEWS Of
BUSINESS ACTIVITY
Freight Loadings Register
Best Gain-SteeI and
Auto Rates Rise.
CONSTRUCTION REMAINS
LAGGARD IN UPTURN
Electric Output Holds Ground,
but Lumber Total Moves
to Lower Levels.
BY RAIDER WINGET,


An optimistic Interpretation of the
current position of national business
and industry was voiced last week
by most analysts
OF the major Straws in the trade
winds, carloadings reports f1oated
further than the rest. For the week
ended March 2. there were 604642
cars loaded. a gain of 9.4 per cent
over the week before.
All classes of freight increased to
total above the usual seasonal gain,
although the aggregate missed by
thin margin the total for the like
week of 1884.
Automobile production last week
was estimated by Grams at 86,973
units against 83,899 units the pre-
Vious week.
Steel production last week was 482
per cent of capacity against 479 the
previous week as estimated by the
American Iron e. Steel Institute.
Analysts reported the recent de-
clining trend has been halted, al
though the opening of books for orders
in the second quarter failed to bring
the expected rush of buying except
in fiat rolled steel.
Steel Makers Hopeful.
Steelmakers are looking hopefully
toward the expected expansion in out
door work and production of farm
machinery to pull them out of any
drop that might be occasioned by the
stocking up indulged in by the motor
industry earlier this year.
Electric production practically held
its own for the week ended March 2,
but lumber production for the same
period declined. The lumbermen,
however, pointed out that both ship
ments and orders were ahead of pro-
duction and Spring construction work
was expected to contribute substan-
tial boost IN the near future. -.-,.
General industrial production dur
ing the present month is expected by
some analysts to show only slight
increases unless construction activity
expands, as 1t usually does at this
time
The new Belgian trade treaty, which
was heralded as benefit to general
trade. has been attacked by those
industries, particularly cement and
steel, which claim they stand to lose
through downward adjustment of the
tariff wall.
Another foreign development which
had its effect on trade was the gyra-
tions of the pound sterling. A few
commentators feared currency
war" But a sharp recovery later in
the week laid to rest some of the
worries over the exchange situation.
First qualms over uncertainties in
cident to re-enactment of the national
industrial recovery act before it ex-
pires June 16 we're in evidence in some
quarters, and a few analysts raised
the cry that confidence would not be
restored to business until Congress
either kills the N. R. A. or extended
its life.
District Reports Given.
Individual reports by Federal Re-
serve districts for last week follow:
BOSTON.-New England's shoe in
dustry entered the final week of its
pre-Easter squirt anticipating a show
ing as good as last year when business
was best since 1929. Wool trade eX-
perienced a better than normal week.
Cotton manufacturers, however, re-
ported slownesS due to Withholding
of buying orders.
NEW YORK.-A combination of
erratic weather and a late Easter
caused retail trade in the New York
metropolitan area to fall under 1884
levels. and some retailers predicted
March would make poor showing.
Mail orders we're higher than the
previous week but under the expected
total because of the late Easter, and
the arrival of buyers was the lowest
this year.
PHILADELPHIA trade in
the third district was larger during
the last week of February than when
the month opened, but against 1884
the figures were less favorable. The
entire month of February, however,
showed retail sales above the same
period of 1894.
CLEVELAND.-A combination of
increased steel production and favor
able weather boosted department store
sales in the fourth district around
per cent, but other business was about
unchanged.
Richmond Gains Shown.
RICHMOND.-Sharp rises in bank
debts pointed the way to business
improvement in virtually all lines in
the fifth district. Baltimore, Rich
mond and Charlotte made particularly
good showings. Washington noted a
substantial pickup in residential
building operations. Maryland new
car sales were double 1884, and gen.
eral industry was active in plant and
equipment rehabilitation. Wholesale
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