Evening star., 1936-05-31
Retail Average Moves Up
Despite Cool Weather
in Some Areas.
WHOLESALERS DISCLOSE
SUBSTANTIAL INCREASES
Farmers Cash Income Expanding.
Soldiers Bonus Payments
Are Anticipated.
BY THOMAS E. FLANAGAN,
Associated Press Financial Writer


gions. the Nations retail trade gained
last week. while industry, aided by
heavy goods demand. stubbornly post
poned its march toward the usual
Summer decline.
Although chilly spells in scattered
districts tended to slow the retail buy
ing pace. the swelling tide of Sum-
mer buying served to push the coun-
try's general consumer demand to
levels from 10 to IS per cent ahead
Of the like week of 1885, according to
an authoritative trade report.
With farmer cash income expand
ing and soldiers bonus payments
ahead, wholesalers enjoyed materially
heavier volume.
Industrial activity, in terms Of the
Associated Press seasonally adjusted
index, was slightly lower at $50, COM
pared with 1872 the previous week.
Steel Operations Ease.
Somewhat slower steel mill oper-
stions, which reflected a trifing loss
in automobile output. tended to weigh
the index down little. but the sharp
ly better than seasonal advance in
residential building afforded strong
support.
Automobile output, estimated by
Grams, totaled 108.346 units, COM
pared with l09,821 last week and 65,-
CTS in the like week a year ago.
Meanwhile reports from the auto
mobile industry showed pay rolls in
April at the highest peak since the
Spring of 1929
Notwithstanding the decline in steel
mill activity from 69.4 to 67e per cent
of capacity, steel leaders gathered at
the Spring meeting of the American
Iron and Steel Institute in New York
said second quarter earnings should
top those Of the first three months.
Citing wider diversifcation of the
demands for steel and more aggres-
sive buying of heavy steels, they said
the industry's outlook is the best in
five years.
Furthermore, they forecast further
production gains throughout June as
the probable result of buying TO fill
requirements in advance of the sched.
uIed third quarter rise in prices.
Employment Mounts.
Also from this sector of the indus.
trial front came word of employment
gains. At youngstown a canvass dis
closed that most mills are employing
more men than in 1929
Freight carloadings for the week
ended May % pushed ahead to a
new high for the year at 683, ,4O6
cars. gain Of 03 per cent over the
preceding week and 14.2 per cent over
the like week of last year.
Along with the heavier movement
Of freight were sharp railroad net
operating income rises for April over
a year ago. Also encouraging we're
preliminary estimates that important
systems would hold or improve gross
returns in May
These considerations led analysts
to believe that the railroads aggre-
gate net return may cover fixed
charges for the second quarter.
Not the least of favorable factors
pointing to generally increased pur.
chasing power throughout the coun-
try were favorable dividend actions
taken during the week by a number
Of important industrial companies.
Detailed Reports Given.
Detailed reports on trade by in
dividual Federal Reserve districts fol-
low:
CHICAGO-Ideal weather aided re-
tail trade and business held its mar
gin of improvement over a year ago.
Gains ran as high as 25 per cent.
Mail order volume continued at or
near record levels.
NEW YORK--Department store
sales maintained April levels. thus
resisting the normal tendency to de-
cline. Retail collections were better
than year ago. while wholesale col
lectionS were even.
BOSTON-Wool had a slight re-
vival, although trade authorities ex-
pressed concern that rising prices
might bring an increased demand for
substitutes. The leather trade was
quiet.
PHILADELPHIA the. excep-
tion of textile activity which tapered
of, other industrial lines kept recent
gains. Favorable weather helped re-
tail business maintain its advantage
over year ago.
RICHMOND.-Cool weather pulled
retail turnover down. Wholesale trade
held its ground, aided by price sta
bility.
ATLANTA.- Consumer buying
brought record gains over the pre-
ceding week and a year ago. Home
furnishings and Summer apparel were
in brisk demand
CLEVELAND.-Steel operations were
steady in spite of the usual tendency
to slacken at this time. The ma
chine tool industry turned in a good
record.
st. Louis Area Cheered.
ST. LOUIS.-Employm expanded
especially in farming. building and
railroad divisions. Home rents rose
The strawberry crop was cut by lack
of moisture.
KANSAS CITY.-Preliminary fig
ures for five leading wholesale lines
show May sales about 20 per cent
ahead of last year. This was The
largest increase in several years.
| DALLAS.-The Dallas Railway &
| Terminal Co. restored its 10 per cent
pay cut to 75O employees. Rains de-
luged Texas. The entire State pre-
pared for the influx of visitors with
the opening of the Dallas Centennia
scheduled for next Saturday.
MINNEAPOLIS. - Weather stimu
lated building activity. Hardware sale
scored marked upturns with SOM
gains running 20 per cent ahead Of