Evening star. [volume] (Washington, D.C.) 1854-1972, 1935-09-15
Both Retail and Wholesale
Gains Are Extended
During Week.
ACTIVITY STIMULATED
BY FAVORABLE WEATHER
Farm Profits, Building Projects
and Improved Employment
Conditions Also Cited.
BY RAIDER WINGET,
Associated Press Financial Writer.

week in the Nations economic re-
covery drive.
Both retail and wholesale trade
throughout the Nation marked up
gains as the Fall buying season gath
cred Roadway.
In the New York and Chicago buy
ing centers, wholesalers were more
than satisfied at the response Of the
rest of the country to offerings.
The United States Department OF
Commerce, in a survey of 80 key cities
for the week ended Wednesday, as
serted: Reports gave evidence that
trade was being stimulated by Fall
buying movement which has been
gaining momentum since the Labor
day holiday.
THE forward trade movement Is
based largely on a background of the
following major influences:
Favorable weather. stimulated
buying power in agricultural sections,
sustained activity in building and
construction, and gradually improved
employment conditions brought about
by w. P. A. allotments and increased
industrial production"
Auto Output Drops.
News from the industrial field was
featured by the sharp reduction in
automobile production in preparation
for the introduction Of 1886 models
in November.
Analysts have predicted such a de-
velopment for some time and have
been surprised that the production of
1885 models wes sustained so long
under the influence of stIong sales
demand.
Largely because of the curtailed
motor production, which marked a
low point for this year, the Associated
Press weekly index of industrial ac-
/ tiYity dropped to 7o2 from 72.7 for
the previous week.
Cotton manufacturing activity was
slightly lower for the week, but a
steadier tone was induced by reports
of sustained buying Raw cotton
prices flrmed following the Govern
ment crop estimate which was 100000
DATES AO"St IIAdA I4Ae AHSNSs PAe
| ton.
There was a large drop In car
loadings for the week ended Septem-
Der 7 because of Labor day, but the
reduction was only slightly greater
than expected.
Freight Outlook Favorable.
On a long-term basis. the freight
outlook appears favorable. Railway
Age states that if the present i'm
provement continues undated. car
/ loadings in the last one-third Of 1885
will be the largest since 1880"
/ On the financial side Of the rail-
| road situation was the decision by
Eastern bankers to sell September 80
collateral representing control Of the
/ Van Sweringen brothers railroad en-
pire. There were many who believed
the step would clarity the reorganiza-
ton situation for the carriers.
Activity of steel mills rebounded
sharply from the holiday let-up and
| production last week was at 49.7 per
| cent of capacity as measured by the
| American Iron and Steel Institute, an
increase Of SO percentage points.
Such a condition was regarded as
| foundation for the belief that heavy
industry currently is in healthy con-
dition despite the cratic action Of
some indices which analysts interpret
as due to temporary influences of lit
/ tie moment.
Both electric power production and
residential building have been Sus-
tanned at high levels m recent weeks
and general construction during Au-
gust was reported by the F. w. Dodge
Corp at the highest level for the year.
Heartening to mail order firms. farm
themselves was the estimate by the
Bureau of Agricultural Economics that
| 1885 farm income would be the largest
in five years.
Detailed Reports Given.
Detailed reports by Federal Reserve
districts follow:
BOSTON. - Demand for colored
goods featured the textile market in
New England. Prices were strong and
production normal. Leather quotations
were higher, but Jagged behind the
hide and skin markets. Movement
of wool into consuming channels con.
tinued at high rate.
NEW YORK-Retail trade in the
metropolitan district gained over the
previous week and was 10 to IL per
cent higher than the 1884 week.
Weather favored shoppers. Buyers in
the market reached a Fall peak and
mail recorders we're reported heavy.
Demand in both the wholesale shoe
and food centers was marked
PHILADELPHIA-Th Department
of Commerce reported Philadelphia
business activity resumed its forward
expansion after the holiday Interrupt
ton. Despite heavy rains early in
the week, retail sales increased and
most wholesalers reported improve
ment.
CLEVELAND. - Business in the
fourth district generally made impress
sive advances. Several sections re-
ported department store sales up 8
per cent from the previous week.
Strong support for general business
came from steel, machine tools, auto
parts and clothing industries.
RICHMOND-An Autumn tang in
the air stimulated retail trade in the
fifth district, while wholesale buying
continued in pleasing volume and
industry generally pressed ahead.
Charlotte textile sources reported
general pickup in all lines, with silk
hosiery mills at capacity.
CHICAGO.-The Fall business upturn in
the Chicago district was reported under