Evening star., 1935-04-21
More Favorable Conditions
Near Week End Fail to
Bring Expected Peak.
FACTORY PRODUCTION
SCHEDULES INCREASED
Rise in Steel, Power, Freight and
Auto Totals Reverses Usual
Seasonal Trend.
BY RAIDER WINGET,
Associated Press Financial Writer.

by quickened activity in basic in
dustr:es.
Merchants for the last four weeks
have reported increased business, with
the exception of local conditions that
obtained for intermittent periods, but
the final drive before Easter was set
back by snow. rain. cold and dust
storms on a wide front.
Bad weather prevailed the frst
half of the week, but favorable cli-
matte conditions during the latter part
of the week in many cases did not
bring sales to the peak that had been
expected.
Many sections reported. however.
that retail sales this year were ahead
of the 1884 Easter period. and most
merchants agreed that total April
trade will be substantially above 1884.
Industrial output, which has been
declining in several lines since Febru-
ary. turned about at the beginning
of the week.
Seasonal Trend Reversed.
The economic factor known as sea-
sonal trend entered the analysis last
week. economists pointed out, and
made reports even more cheerful. Over
past years experience has shown that
industrial production by and large
tends to decline at this period into
the Summer months and actual in
creases shown currently are registered
against the expected decline, thereby
magnifying the advances which arc
characterized as a counter-Seasonal
movement.
Electric power production. for eA-
ample. gained slightly during the
week of April l3 over the previous
week, but the increase was sharp when
compared with the seasonal trerd.
The week was 81 per cent ahead OF
the same week of 1884;
Steel likewise gained more on
seasonal than an actual oasis. with
/ the American Iron g. Steel 1nsti-
/ tute estimating production last week
at 44.0 per cent of capacity, an actual
gain of 0.2 of a percentage point.
Carloadings advanced ~ per cent
for the week ended April 13 over the
previous week to a point Is per cent
| above 1884, a rise that was much
greater than expected for this time OF
year.
The rise was caused principally by
, increased coal shipments after
slump the previous week.
Coal Output Climbs.
! Production of bituminous coal for
that period was reported at 5,650,OOO
/ net tons, against 3,895,000 tons the
previous week The total, however.
was slightly below last year during
/ the same week.
Automobile production continued
| its climb last week and registered an
output of l10,235 units, as estimated
/ by Grams Reports. Inc, against lO9,-
/ 537 the previous week.
Difficulties in the cotton textile
trade were brought before the public
sharply with complaints by mill man
ayers that the processing tax and i'm
portations of japanese cloth were seri-
! ously hampering the industry.
| Domestic cloth production, which
has been downward since the January
l peak, declined still more last week,
but the drop was helped along by the
April l cut in production agreed upon
by the industry.
Although it was too early to judge
! the long-term effects, the general cut
in New York money rates during the
week had no immediate effect on busi-
ness and industry. The reductions
made short-term money the cheapest
in the history of American banking.
But the cheap money played strik-
ing part on the New York Stock EX-
change, where q bull market in shares
developed during the latter part OF
the week. Saturdays total transac-
tions was the best for two-hour ses-
sion in nearly year.
District Reports Given.
Reports follow from individual Fed
eral reserve districts for last week:
BOSTON-Despite unfavorable re-
ports from other branches OF the
textile trade sales volume of wool
was about the normal average. Heavy
buying in the hide market at higher
prices was reported.
NEW YORK-Slow retail trade the
first half of the week in the New
York metropolitan area broke into a
late squirt with sharp advances re-
ported in Easter sales of women's
wear. The gain for the Easter period,
however, was estimated at half the
previous years gain. DuStstormS cut
recorders in the wholesale market.
Buffalo steel production gained 3
points to 81 per cent of capacity.
PHILADELPHIA wealth.
er was blamed for letdown in re-
| tail sales in the third district for
| the week ended April 13, and mer-
chants doubted that total gains would
be as high as expected. Household
goods sales were active, but apparel
purchases were slow. Manufactur-
ing industries apparently entered q
period of seasonal quiet.
| RICHMOND.-Retail merchants of
the fifth district voiced disappoint-
ment in Easter business, set back by
weather, but wholesalers said busi-
ness was appreciably better than last
year. Uncertainty over the Govern
ment cotton program was said to be
an unsettling factor in rural business.
ATLANTA.-stimulsted by fair. warm
weather. Easter shoppers thronsed retail
stores with clothing buying almost equaled
volume equal or better than last year was
expected. Steel operations continued at
| 55 per cent of capacity.
CHICAGO.-Fair weather stimulated
Easter retail buying In the Chicago district
with sales late In the week described as
| much geater' than last year. although
there was general complaint of a late
start. Sentiment among retailers. how
ever. was cheerful. Florists trade was
| satisfactory Wholesalers encountered the
| expected reaction with most orders COM
| pleted
KANSAS CITY.-Rising commodity
] prices boosted bank clearings in the tenth
| district and trade volume was above 0
year ago and gained over the previous
week. Wholesalers reported an optimistic
l feeling despite Gust storms.