Evening star., 1935-02-03
Cheerful Touch of Pre-.
Spring Activity Is Felt
Despite Cold Wave.
ADVANCE IN INDUSTRY
SLACKENS DURING WEEK
Steel, Electric and Auto Outputs
Hold to High Pace-Lumber
and Car Loadings Lag.
BY RAIDER WINGET,
Associated Press Financial Writer.


A cheerful touch of pre-Spring ac-
tivity last week urged national busi-
ness forward despite bleak weather.
Although the onward roll of indus
try slackened somewhat, there was
evidence that current demand for both
consumers and durable goods was in
anticipation of brisk future business.
Steel, electric and automobile pro-
duction continued at a high pace,
while lumber production and car load
ings receded, reports appearing during
the week indicated. Belated reports
on building construction for January
showed residential construction ac-
tivity leading
Steel mills last week operated at
52.5 per cent of capacity against 495
the previous week, with the heaviest
demand from the tinplate mills and
farm implement manufacturers. The
beginning of demand for rails in the
Pittsburgh area was in evidence.
Pig Iron Sets Record.
Pig iron production gains in jan
uary were reported to be the largest
in history for that month. All fac
tors combined to indicate a So-called
sellers market. Buyers looked to
prices.
Closely linked to that industry were
motor makers who continued their
high production for a total of 1887
units last week, as estimated by
Cram. January output was estimated
at 279.000 units against 1891 for
January last year.
There was, however. the disturbing
factor of labor's dissatisfaction over
extension of the automobile code to
June Is, and rtlmorS Of strikes flew
through industrial and political CEN
terS.
Electric power production for the
week ended January 26 was 10.6 per
cent above year ago, reaching a
Observation-Disclosures peak in a con-
tra-SeaSonal rise.
Carloadings for the week ended
January 26 were 1.3 per cent under
both the previous week and the same
week year ago, a reduction which
was somewhat more than usual for
that time of year. All except coal and
coke, supurred by weather, showed
losses.
Lumber Orders Still Ahead.
Although lumber production for the
week ended January 81 declined
against an expected increase, orders
were still ahead of output.
The more sensitive commodities
marched an uncertain road during the
week waiting for the Supreme Court
decision on gold, which had been ex-
pected Monday, but many financial
centers were heartened by moderately
favorable earnings reports.
Foreign trade was hampered to a
degree by the uncertainty in foreign
exchanges caused by the anticipated
gold decision. The break in trade and
debt negotiations with the U. S. s. r.
caused no undue unsettlement in the
import-export trade because first en-
thusiasm based on rosy dreams of
Russian commerce had dimmed.
High spots in business and industry
last week in individual Federal Re-
serve districts follow:
BOSTON-Shoe manufacturers of
the first district pressed for deliveries
on gold orders, but were cautious in
placing new business. Hides and
leather continued irregular. Demand
for wool and cotton lessened, with
manufacturers in the latter business
reporting business volume consider
ably under year ago.
New York Trade Brisk.
NEW YORK-Retail business in the
New York metropolitan area was
marked by brisk moving of seasonal
goods. Many rush orders to manu-
facturers were reported, and Spring
buying opened with the resident buy
ers reporting heavy demand from
their outlets for next seasons mer-
chandise.
ACKNOWLEDGEMENT improve
ment in all lines of wholesale and dis
tribution business was reported from
the Carolinas, but northern portions
of the fifth district found trade ham,
pered by storms. A general report in
dicated increasing employment and
motor sales.
ATLANTA-Althoug Birmingham
steel operations were unchanged at
80 per cent of capacity, the outlook
was reported bright for operations.
Continued on Third Page)