Evening star., 1936-11-01
TRADE LENGTHENS
AUTUMN STRIDE IN
COOLER WEATHER
Industry Holds Wide Gains
Over 1885 Despite Small
Decline in Index.
MERCHANTS OPTIMISTIC
FOR HOLIDAY VOLUME
Wholesale Lines Follow General
Upturn as Stores Prepare
for Rush Season.
BY THOMAS E. FLANAGAN,
Associated Press F1nanc.aI Writer.

BY THOMAS T.. FLANAGAN,
Associated Press F1nanc.aI Writer.
Business heightened its Fall stride
last week as retail trade received the
aid of cooler weather in some sec
tions and industry held wide gains
over year ago.
The Associated Press index Of in.
dustrial activity was a trifle under
the preceding week at 95.7. A week
ago it stood at 96.3, year ago at 60.4.
The Department of Commerce in its
weekly survey Of business in 81
cities said: Retail trade was every
where far ahead Of the comparable
period last year and in all areas where
weather conditions permitted the
turnover was well in advance Of the
previous week.
Wholesale lines followed in gen.
eral way the forward surge Of retail
A feature of the reports was the wide
spread optimism voiced by business
men for an active Autumn, coupled
with preparations for an exceedingly
heavy holiday trade" the Review
added.
Steel Output Higher.
Production edged a trifle higher
to TAB per cent of capacity in the
steel industry, the estimate of the
American Iron & Steel Institute dis
closed. A week ago it was at 74.2
and a year ago at 51.9 per cent Of
capacity.
Some steel-producing districts, It
was said, were aided by orders from
various motor companies which had
been slow in starting output of new
models.
Automobile production rose to 66,985
units from 59,740 the week before
and compared with 81,740 in the cor
responding week last year, Grams
estimate showed. Experts said or
ders on hand were large enough to
absorb scheduled output for Novem-
Der.
Although production of electric
power was slightly lower at 2,166,-
656, 900 ,kilowatt hours, the report Of
the Edison Electric Institute showed
a gain of 14.3 per cent over the like
week a year ago in the week ended
October "a.
Analysts of railway freight trafic
said the decline of IL per cent in
carloadings for the week ended Octo.
Der "A was slightly more than sea.
sonal. The total reported by the As.
sociation of American Railroads was
815,972. an upturn of 14.8 per cent
over the like period Of 1885.
Five Glasses Decline.
1t was noted that in five of the eight
major commodity classif1cations of
freight there was drop from the pre-
ceding week. The three groups which
showed advances were less than carlot
merchandise. forest products and
grain.
Bearing witness to world industrial
recovery and buying for armaments
uses by several foreign countries the
price of export copper pushed ahead
to 10.325 cents pound, the highest
since March, 1881.
Meanwhile, with two days not yet
reported October sales of domestic
copper were estimated by trade
sources at the record total Of 351, ,068,.
900 pounds, the largest monthly ag-
gregate since the Copper Institute
published sales. Previous high was
the July total Of 350,900,000 pounds.
Domestic copper prices moved ahead
to 10 cents pound. best since 1881.
Other commodities which jumped
to new highs included silk. lead and
rubber.
Earnings Watched.
Improvement in third quarter
corporate earnings. notably by steel
companies, provided a high spot Of
the business week.
United States Steel, top-rank unit
of the field, declared a preferred
dividend of S375 of which 50 went
to reduce arrears of $1825 a share.
It's net earnings of Sl3,636,l77 for the
third quarter equaled "a cents on the
common, on which nothing was
earned in the like period year ago.
Myron Taylor, chairman, said third
quarter operations were up to 63.6
per cent Of capacity from sos in the
previous quarter and announced
studies on wage revisions were near
completion and shortly to be dis.
cussed with employees.
Bethlehem Steel No. steel organi.
zation reported the largest third-quar-
ter earnings since that period in 1929.
Other industrial companies boosted
dividends to avoid payment of taxes
under the undivided profits tax law.
Reports Of railroads on September
net operating income showed numer.
GUS systems had profted handsomely
from wide gains in loadings Of reve-
nue. freight.
Stock Traders Cautious.
Share prices on the New York
Stock Exchange thrust ahead during
the week, but as the period drew to
a close buying energy petered out as
traders withdrew to the sidelines to
await the outcome of the elections.
The bond market held within a
narrow range. At times
(See TRADE, Page G-2.)