Evening star., 1936-06-07
WEATHER PUSHES
TRADE UPWARDON.
MORE EVEN FRONT
Retail Turnover Advances
About II to II Per Cent
Above Year Ago.
RECORDERS ARE HEAVY
AT WHOLESALE CENTERS
Industry, With Exception of Auto
Division, Makes Better Showing
Than Normal in Week.
BY THOMAS E. FLANAGAN,
Associated Press Financial Writer.

BY THOMAS E. FLANAGAN,
Associated Press Financial Writer.
Retail trade aided by warmer
weather in most sections moved ahead
more evenly last week, while industry,
with the exception of the automobile
division. was contra-seasonally re-
sistant.
Although drought in the South and
chilly weather in scattered areas
caused a hitch in consumer buying,
for the country at large the approach
OF Summer, graduationS and vacation
travel served to push retail turnover
about II to II per cent ahead Of the
like week a year ago, trade surveys said.
Heavy demands on retailers brought
a strong tide Of recorders to wholesale
distributors.
Industry, as measured by the Asso-
ciated Press seasonally adjusted index,
turned in better showing than nor
NAL at this time of year, moving to
894, new high for the year, from
800 last week
Steel Industry Climbs.
In spite of a somewhat more than
seasonal drop in automobile output
owing to generous dealers inventories,
the steel industry moved up to 68.2
from 67.9 per cent of capacity last
week as buying of miscellaneous pro-
ducts spread
Grams estimate put the weeks auto
mobile production at 10l 1896 units,
compared with 108,346 last week and
1885 in the corresponding week of
1885. Trade observers stressed the
width of the gain over a year ago as
a gauge of recovery momentum.
Reports from most sections of the
country indicated that automobile dis
tribution will likely hold at a swifter
than usual pace for some time owing
to disbursement of the soldiers bonus.
A decline of freight car loadings Of
So per cent for the week ended May
80 to 646,859 cars was less than sea-
sonal inasmuch as coal shipments ex-
panded sharply in spite Of the Decora-
ton day holiday.
Power Output Rises.
Electric power output was another
division to make a better than normal
showing. While it was a peg lower
than the previous week, it was 1S per
cent higher than the corresponding
period last year
The weekly business survey OF IS
cities issued by the Department of
Commerce said June business had
pushed off to good start in the week
ended June 3.
THE margin over last year was sus-
tanned at the level of recent weeks and
some cities reported the best May since
1881.
Building operations continued their
upswing. Reports from 100 repre-
sentative cities revealed a gain of 1905
per cent in value of building permits
issued in May, as compared with May,
1895.
Drought conditions became more
acute in wide areas and began to as
sumo menacing proportions.
Employment gains were widespread.
although much of the absorption Of
workers from relief rolls was due to
seasonal activities.
Heavy Goods Revive.
Continued revival indications in the
heavy goods industry we're seen in the
report of the Association of American
Railroads, citing 18,467 freight cars on
order on May l. compared with 1,449
on that date last year. Locomotives
on order totaled II against 81 a year
earlier
This buying was studied In the
light of stout increases in gross oper-
ating revenues and net operating in
come of railroads in April as compiled
from early reporting systems.
Favorable dividend actions cropped
up from some companies, although
the encouragement by these was in
some measure Offset by dividend un-
certainties cited by Creole Petroleum
Corp.
The report of Federal Reserve men,
Der banks disclosed continued general
expansion of "other loans" which has
been under way since February.
showing in part growth in the de-
mand for cash for business purposes.
Detailed Reports Given.
Detailed reports on trade by indi-
vidual Federal Reserve districts fol-
low:
CHICAGO.-Leading merchants re-
ported the best buying since Easter as
weather improved after Tuesday. De-
mand for clothing and household fur
nishings were important factors.
NEW YORK.-Although retarded
somewhat by the holiday. business
swung forward aggresSively. In the
period Immediately preceding and
following the holiday wide daily gains
were turned In over a year ago, the
Department of Commerce reported.
CLEVELAND.-Steel operations ran
sharply ahead In the Cleveland-Lo-
rain and Youngstown districts. Auto
parts plants held steady in gear with
Detroit production. Retail turnover
reached high speed, stimulated in
some measure by the Republicans
Convention.
ST. LoUIs.-Retail trade continued to
improve on buying of Summer goods par
ticularly wearing apparel Employment
expanded further in seasonal occupations.
Rents rose.
PHIEADELPHIA.-Dep store sales
in May were estimated at about per
cent ahead of last year. The textile busts
ness was quiet.
BOSTON.-The wool market was steady.
although 1t lacked the snap Of last week.
The textile industry continued quiet.
RIOHMOND.-Co commandments
and vacations aided retail distribution.
ATLANTA.-Retai business kept a good
pace despite extremely unfavorable wealth.
er over much of the area. Drought-
stricken farmers sought congressional re.
lief
KANSAS CITY.-General business con.
tinued 10 gain both over last month and
last year. With bonus payments in tha
ofnng,, continued Improvement was ex'
DENvER.-Untayorable weather cramped