Evening star., 1935-06-09
TRADE CONTINUES
TO MOVE STEADILY
| UPWARD IN WEEK
Weather Spurs Store Sales.
Manufacturing Starts
| Seasonal Decline.
CODES RULING AFFECTS
TEXTILE LINES MOST
Buyers Inclined to Hold Back.
Woolen Mills Busy and Rayon
Shows Little Reaction.
BY RAIDER WINGET.

BY RAIDER WINGET.
Associated Press Financial Writer.
The Nations business was carried
forward during the past week by
strong undercurrent.
Retail trade improved in some areas
as weather favored. Most indica-
tors of industrial production showed
further recession. due to the seasonal
trend, and in part perhaps to the
disturbance Of lifting the N. R. A.
codes.
Nevertheless most authorities agreed
that business activity had been very
slightly affected by the collapse Of
the codes. The Department of Com
merces survey Of weekly reports from
33 cities said the Supreme Court
decision on N. p A. has so far pro-
duced no change Of great consequence
in actual trade activities Textiles
seemed most influenced. as buyers
were still inclined TO keep out of the
markets pending Qualification of the
price outlook Cotton mill activity
slackened a little more. Orders To
fill immediate requirements trickled
AZ I4ONtNCA' anu dStIJS
resumed inquiries Woolen mill ec-
tivity continued at a good pace and
rayon seemed scarcely affected.
Auto Output Climbs.
Automobile production was stepped
up sharply last week after the cur
tallment due 10 the Memorial dav
holiday the previous week. Produc-
ton. as estimated by Cram. aggre-
gated 1885 cars and trucks. COM
pared with 65.675 for the week ended
June !, and 69107 for the like week
Of last year Production did not get
back to the level Of the week preced-
ing the holiday period. when 100 705
! units were produced. but closely sp-
proXimated the levels Of early and
mid-May.
! Some centers. particularly in the
Middlewest. mentioned further gains
in residential construction. The squirt
in retail trade before the holiday the
/ previous week brought numerous re-
orders for Summer merchandise in
/ New York. Chicago. and other whole
sale markets. Shoppers were again
hampered by cool wet weather in
| some sections the past week, but
| volumes with few exceptions seemed
to hold we'll above last year.
! June Weddings. commencement prep
arations, and the approach of the
vacation season brought substantial
Volumes in wide range of merchan-
disc. The recent slump in the cotton
market appeared to have been dis
couraging to buyers in the South, but
cotton and several other sensitive
staples recovered substantially during
the week.
Labor Strife Watched.
Labor controversies loomed large IN
the weeks news. with the lumber
strike continuing in the Pacific North
west and lumber mill output curtsiled
further The threat of tieup in the
bituminous coal industry June Is
brought a squirt of production there.
A truce in the Toledo electric workers
strike obviated threatened tieup in
that industrial center.
/ Steel production declined again.
/ although Iron Age said it was down
/ only one percentage point to Al = per
cent of capacity. That authority also
said that while demand was adversely
affected by the sudden end of n. r.
A. the recession in bookings was
smaller than might have been eX-
! peCted.' Representatives of 80 per
| cent of the industry meeting in New
York unanimously resolved to continue
! n. r. A. wage and work provisions. 1t
was emphasized at the steel institute
that prices for the third quarter had
already been filed. and that producers
were making no changes in those
schedules
The movement of railway freight, as
reported for the week ended June /.
showed a drop of only ST per cent.
/ or somewhat smaller than seasonal in
view of the holiday. The total came
within 25 per cent of that for the
same week of 1894 Electric Power
production showed approximately
/ seasonal decline of per cent, but was
( 33 per cent over 1894, compared with
a gain over last year of only 2.5 per
| cent the previous week.
District Reports Given.
Reports from individual Federal
Reserve districts follow:
BOSTON L Lethargy prevails in
cotton, wool and leather markets. re-
/ f1ecting continued uncertainty over
the N. R. A. decision. but the uneas-
/ mess in cotton seemed on the wane.
with price schedules holding.
NEW Generally. the larger
retailers ard chain units reported
business slightly below year ago. ac-
cording to the Department of Com
merce. The N. R. A. uncertainty in
whole markets seemed to be diminish
ing, with more inquiries and some
orders for immediate requirements.
Retail trade in Buffalo and Rochester
was reported we'll maintained.
PHILADELPHIA-Re trade for
the last week was slightly ahead Of
last year, but showed little change
from the previous. Commerce Depart
ment reports indicated. Some hosiery
mills reported that they might have
to curtail, owing to slack buying.
CLEVELAND. - Retail merchants
generally experienced an upward
trend of sales, tapering of at the
end Of the week due to weather. Rains
helped crops, however, and industrial
operations held steady. Steel produc-
tion was unchanged at youngstown
but lower at Pittsburgh.
Capital Stores Busy.
RICHMOND.-Retail trade slack
ened somewhat after the squirt of the
previous week This was noted at
Baltimore, but Washington merchants
were busy with the city packed with
visitors during the Shriners' conven-
ton.
ST. LUUIS-Retail trade in the ST.
Louis area picked up slightly, but was
spotty Settlement of strikes painted o
better employment picture in the cities.
but floods and rains retarded rural hiring.
I