Evening star., 1935-10-20
Factory Activity Jumps.
Weather Blamed for Buy
ing Declines.
ORDERS AT WHOLESALE
CENTERS STILL CLIMB
Store Volumes Drop at New York,
St. Louis and San Francisco.
Other Cities Gain.
BY RAIDER WINGET,
Associated Press Financial Writer.

Associated Press Financial Writer.
Uneven gains and some receSsions
in retail trade last week because Of
unreasonable weather were over
shadowed by statistics indicating pro-
nounced acceleration of industrial &C.
tivity.
Consumers increased their pur-
chases in such Federal Reserve dis
trictS as Cleveland and Kansas City;
trade was well sustained in Chicago
and Atlanta, but decreases were re-
corded because of weather conditions
in New York, ST. Louis and San Fran
cisco sections
Nevertheless, the reaction was re-
garded as minor since in recent weeks
the volume of retail trade has ex-
panded markedly TO leve. that Is
some 10 to IS per cent ahead of the
same period of 1884. Prospects for
continuation of the movement, experts
in the field declare, remain unclouded.
Buying of goods at wholesale was
brisk.
| Industrial Index Scars.
The Associated Press index Of in
dustrial activity, adjusted for seasonal
variations, spurted to n per cent Of
73.1 per cent the previous week, and
approzimating the recovery peak OF
77.3 reached last February.
The Department of Commerce, in
its survey of SO key cities for the
week ended Wednesday, declared:
Fall buying in the retail trade suf-
fered a material setback throughout
the greater part of the country during
the week as a result Of warm, un-
seasonable weather and the (Colum-
bus day. holiday interruption.
For the most part, however, retail
sales continued at safe margins above
the same week last year.
wholesale lines were only slightly
affected by adverse weather and the
holiday interruption ="
The automobile industry continued
its step-up in production schedules
in preparation for Fall model intro
duction.
Price adjustments were announced
by a few manufacturers and indicated
a lowering of the highest rates and a
slight upward tendency of the lowest
figures.
Steel Operations Gain.
Steel makers operated their plants
at 504 per cent of capacity, up Z
of l per centage point from the pre-
vious week Authoritative trade sources
report demand for automobile require
mentS is well sustained, but q shad-
ing was noted in few other lines.
Freight carloadings for the week
ended October II touched new high
since October of 1881 at a level of
734274, a gain of more than IS per
cent over the same week of 1884. The
previous week, loadings totaled 706.-
BIT cars. ...-
Most Of the addition was ascribed
to mounting coal shipments. but there
also was greater movement of other
key commodities and merchandise to
market.
Electric power production for the
same week set another new all-time
high with an output Of 1857, ,127, 900
kilowatt hours.
Appliance Sales Climb.
Coincident with that record, the
manufacturers Of electric appliances
were credited with the most active
October business in six years. Pointed
to as significant were the sales of
heavy household equipment as well
as the lighter and cheaper items.
On the financial side Of the picture,
third-quarter earnings reports of ma.
jor corporations, now being made pub
lie, indicated greater profits were be-
ing made than at the So me time last
year.
Because of the influx of gold from
jittery European quarters and because
of United States Treasury payments,
excess reserves of member banks in
the Federal Reserve System again
established new all-time high of
S2,9l0, 100000. The amount provides
an unprecedented credit base for
American industry, standing ready
for use when, as and If needed.
Detailed Reports Given.
Detailed reports from individual
Federal Reserve districts follow:
BOSTON.-Print goods orders were
heavy in New England with fears of q
price raise expressed, and practically
all fabrics were bought in quantities.
The turnover in hides showed an adj
vance, and wool continued to move
freely with volume above average.
NEW YORK.-Retail trade in the
metropolitan district receded because
of warm weather, but wholesale CEN
| ters were active. More buyers were
present and records from other sec
tions were heavy. Spring lines Of dry
goods were stocked widely.
PHILADELPHIA - Early October
business gains were sustained. De-
mand was noted for better quality
clothing and buying of leather goods
and house furnishings expanded.
Bankers report more queries for work.
| ing funds, but loans we're slow.
CLEVELAND.-Buying by the auto
mobile industry gave strong support
to steel, rubber, glass and parts indus
tries, although the volume was not so
large as expected. Brisk weather
aided apparel sales, and retail trade
was up over the previous week.
| RICHMOND.-Such indicators Of
business as bank clearings, electric
power production, construction and
bank debts pointed upward. Retail
trade wilted somewhat under unsea-
sonable warmth. September building
permits were about double a year ago.
ATLANTA.-With heavy sales in
Fall lines, retail trade held its own at
a volume considered good by mer-
chants. Birmingham steel production
was at So q per cent Of capacity, the
best level since june. d.