Evening star., 1936-02-09
Retail Trade Is Halted
in Some Sections, While
Other Areas Gain.
SIGNS OF SPRING RISE
CHEER WHOLESALERS
Stores Survey Shows Margin Of
Gain Over 1885 Maintained
in Most Instances.
BY RAIDER WINGET,
Associated Press Financial Writer.


Retail trade was virtually halted in
some sections, other communities
gained and few continued a normal
upward movement. Major segments
Of industry increased or decreased their
tempo in line with the caprice of snow
| and cold.
The Department of Commerce in a
survey Of 81 cities for the week ended
Wednesday said: Although severe
weather was the most influential factor
in business and industrial activity for
the second consecutive week, the mar
gin of gain in retail trade over last
year was maintained in most in
| stances. +**
Wholesale trade reacted to the re-
tail situation and remained more or
less dormant, but with increasing signs
Of Spring business"
After that survey was completed,
heavy snow and even greater cold
swept through the central section Of
the Eastern Coast and the Midwest
with crippling results for the cash
drawer
The Associated Press index of indus
trial activity adjusted for seasonal
variation, fell to 804 per cent of the
192930 average from 1922 per cent the
previous week.
Auto Output Down.
Automobile production was lowered
to 69,876 units as estimated by Grams,
compared with 1890 units week be-
fore. The total was even under the
same week year before.
Authorities laid the drop to ice and
snow covered streets and roads of the
last three weeks and continued to
maintain their optimistic attitude
toward the future.
Steel mill production. which is not
subject to short-term adverse weather,
was estimated by the American Iron
and Steel Institute at so per cent of
capacity against 49.4 per cent the pre-
vious week.
Inquiries and orders from railroads
appeared as the bolstering factor. and
steel men continue to talk about un-
derlying strength of their industry.
Plans for $500, 600 900 expenditure
to expand and recondition plants and
equipment were announced during
the week. and railroad subsidiaries Of
u. S. Steel placed orders for more
than $4,000, 900 in locomotives and
cars, an order which was good news
to the parent company itself.
Cotton Goods Steadier.
Principal cotton goods markets were
steadier. because of a settlement Of
processing tax refund complications,
but manufacturing activity declined
slightly more than was anticipated.
| The experts still remind statisticians
| that 1886. under the odd and even
year cycle, should be no bettei than
last year.
Carloadings for the week ended
February were boosted to 62l ,839
cars, an increase of ga per cent over
| the previous week. because OF the
rush of coal orders due to the cold.
The additional freight movement was
well in excess of the usual February
level of shipments.
Electric power production, also un-
der the spell of weather, gained a Of
/ per cent over the previous week and
ia per cent over the corresponding
1885 period to the highest seasonal
peak in the industry's history.
Strike Threats a Factor.
Some commentators felt that strikes
and threats of walkouts added to the
clogging effects that weather con-
tributed, but others believed that de-
mands of workers did not alter the
general picture of the week.
An unmistakable easing OF tension
in the international money and for
eign exchange market occurred, with
small shipments of gold by the United
States to France and Holland when
those foreign currencies rose to the
point where such shipments were
profitable.
Although the amount was small,
authorities declared it proved the in
ternational balancing machinery was
still working after about a year and .
half Of one-way shipments OF gold to
the United States.
Biggest corporate news of the week
was made by Chrysler's motor manu-
featuring and Du Points chemical
business, which is 1885 produced
profits larger than in any other year.
Detailed Reports Given.
Detailed reports for last week BY
individual Federal Reserve districts
| follow:
OSTON.-Activity slackened in all
three of Boston's great primary mar
| kets. Although cotton was little
stronger, fears of new taxes delayed
'large-scale operations. Wool CEN
ters reported light sales, and leather
picked up slightly at price concessions.
NEW YORK.-Retail trade con-
tinued about per cent ahead of the
1885 period, with home furnishings.
apparel and hardware active In the
metropolitan area. Orders by national
retailers of dry goods and apparel
were marked.
PHILADELPHIA. - Sustained low
temperatures brought boom in an
thracite, but adversely affected retail
trade. Wholesale orders were fair, but
textile manufacturing was still In
seasonal dullness Structural material
makers increased operations.
| RICHMOND. - Retail trade was
hampered by extremely unfavorable
weather in the fifth Federal reserve
district. Wholesale volume also was
of because of deals in transportation
| facilities.
| ATLANTA-DeSpite severe weather. de-
| partment store business was slightly better
than In the previous week. Florida tourtse
| business benefited from cold elsewhere.
Birmingham steel operations were up 12
points to 63 peEScent Of capacity.