Evening star., 1936-03-08
Retail Trade Bounds Up
as Weather Improves.
Goods in Demand,
AL MOST EVERY SECTION
OF INDUSTRY ADVANCES
Wholesalers Cheered by More
Buyers, Mail Orders, Inquiries
and Results From Fairs.
BY RAIDER WINGET,
Associated Press Financial Writer.

An increasing number Of favorable
developments last week placed the
Nations business and industry on the
highest early Spring plateau since
1880
Retail trade appeared TO be af-
fected by three movements. Final
orders for Winter merchandise came
from numerous sections, inquiries and
sales of Spring goods increased in
volume, and continued clearing of the
weather permitted fulflllment of de-
layed purchasing by consumers.
Almost every segment Of industry
advanced its rate of activity either
in response to immediate demand
or in continuation Of the long term
upward trend
In those parts Of the country where
retailing Jagged behind the rest OF
the Nation the delay was attributed
to the weather.
Outlook Best in Years.
Wholesalers counted such indices as
buyers, mail orders, inquiries and the
response to trade fairs, and they pre-
dicted the best Spring business in
years.
The Department of Commerce in its
survey of 33 cities for the week ended
Wednesday declared: With the adj
vent Of more moderate weather. retail
trade moved forward at an accelerated
tempo in substantially all parts Of
| the country
OF the primary markets It vas
stated: wholesale trade showed
tendency to follow the expanding
lead of retail activity, but on smaller
| scale"
The seasonally adjusted index OF
industrial activity compiled by the
Associated Press advanced to 80 per
cent of the 1929-30 average from 1913
per cent the previous week.
Automobile output and freight car
| loadings contributed the most TO the
movement.
Auto Sales Increase.
Motor makers built 64.705 units last
week, compared with 64s56 units in
the previous six days. and dealers re-
vealed sharp increase in sales Of
! the last few days because of higher
temperatures aud additional sunshine
in many sections.
| Carloadings, which are for the week
! ended February 29, were up to 673,I23
cars from 5867l2 the week before and
604,642 year previously. The addl-
/ tions we're in miscellaneous freight
and less-than-carlots, and the Mid
western carriers received the bulk OF
the benefit
! Coupled with those reports was the
reawaken.ng of railroad financing with
an Offering to the public Of $50 ,344,000
in Virginian Railway Co. 324 per cent
! bonds and S44000,000 in Chicago
| Union Station 3ai per cent bonds, the
/ largest such issues IN several years.
! Financial authorities anticipated
several other issues and predicted a
| new wave of railroad financing.
Steel mill production was up to 53.5
per cent of capacity from 529 per
cent the week before and 48.2 per cent
year ago, the greatest demand fac
tors beng the rail equipment and
motor manufacturer. Orders for mis-
| cellaneous products also caused eX.
pansion in the rate of operations III
several steel districts.
! Engineering construction awards
last week amounted to S35, ,624,00
against s22. .799 900 the week before, as
reported by Engineering News-Record.
Residential building remained un-
! changed. but there was no lessening
1 in the optimism of builders for the
expected Spring demand for housing.
| The two most important develop
ments of the week in financial quar-
ters were the successful 81 1909 100000
United States Treasury financing and
the announcement Of the new RooSe-
welt tax program.
| Reception of the Treasury securities
was one of the best ever recorded, with
subscriptions from five to seven times
greater than the amount offered.
Low-yield securities advanced to the
best levels in many years.
A distinctly buliish Interpretation
was placed by the stock market on the
Roosevelt taxation proposals designed
to raise 100000 in taxes. with
some S620,000,000 of the aggregate
representing new tax money, from
heavy levy on Wldistributed corpora.
ton profits. The Associated Press in"
deX of go stocks stood at $500, at the
week end around the best in five
years. The proposal was seen as an
| inducement to larger dividend pay
ments.
Detailed Reports Given.
Detailed reports on business last
week in individual Federal Reserve
districts follow:
BOSTON.-The break in Winter
| weather brought improvement to sew
eral branches of New England trade,
although retailing generally was some
what restricted Woolen mills ex-
perienced particularly good week;
cotton mills, however, barely equaled
1885 volume
NEW YORK-Retail trade revived
and continued heavy in the metro
politsn area. Mail orders increased,
but the number of buyers from out of
the city showed no significant change.
Winter resort business was reported
the best since 1929, and both retailers
and wholesalers turned attention to
mounting Spring business.
PHILADELPHIA activity
continues to show moderate improve
| ment. A noticeable gain in textile
manufacturing was recorded. Check
payments fell in the week ended
February 30 from the previous week,
but were per cent over year ago.
CLEVELAND-Steelo operations were low