Evening star., 1936-06-14
General Activity Increases,
Retail Sales Steady to
Slightly Higher.
INDUSTRIAL INDEX HITS
PEAK SINCE JUNE, 1880
Texas Rain and G. 0. P. Conven-
ton More Than Offset Minor
Trade Recessions.
BY THOMAS z. FLANAGAN,

Factors making for a broad advance
in both industrial and retail sectors
of the national economy combined
last week to lift general activity de-
spite the drag exerted by the usual
Summertime inertia.
Retail trade in most sections Of the
country either held its own or stepped
forward. Local weather conditions, of
course, changed the picture so far as
several individual communities were
concerned, but such stimulating infiu-
ences as the Texas Centennial and Re
publican convention more than off,
set minor recessions.
The Associated Press index of in
dustrial activity rose to 9O.3 per cent
of the l929-30 average from 894 per
cent the previous week. the highest
level since June of 1880. with all of
the component parts of the gauge
ahead.
Seasonal Trend Resisted.
The Department of Commerce in its
weekly summary of conditions in SO
cities stated: Notwithstanding Sc
we're drouth conditions in many areas
Of the country, retail trade resisted
seasonal trends, sustaining May levels
and everywhere running we'll ahead
Of the comparable period last year.
Wholesale lines moved forward
with corresponding consistency. There
we're indications that the vacation sea-
son had opened auspiciously with
substantial pickup in all types OF
transportation and heavy demands for
vacation accessories"
Practically all lines of consumer
goods organizations stocked heavily il
anticipation of the delivery this week
of bonus payments to veterans.
Analysts find that national trade
expanding from the high point durir
May with expectations pointing to !
still further broadening of sales.
May Sales Jump.
Montgomery Ward and j. c. Penney
reported May sales the highest re-
corded for that month and 1922 Pc
cent and 2I6 per cent. respectively
higher than the same month Q year
ago.
Automobile production eased of to
100,415 units as recorded by Grams.
from 101 1896 units the previous week,
but that small reduction was less than
normally expected for this time of
year. Used-car dealers cooked hope
full eye at the bonus payment.
Steel mill activity rose to sos per
cent of capacity. in the estimate of
the American Iron and Steel Institute.
from 68.2 per cent the week before.
with the demand from all sources
helped along in anticipation Of price
increases July /. At the same time.
many inquiries for heavy steel were
noted.
In the face Of that action, however.
the composite price of scrap steel de-
clined to $12.67 a ton from Sl292 the
week before, the lowest quotation since
November s.
Cheering was the rise of cotton mill
activity to 1850 per cent in the Asso-
ciated Press index from 1049 per cent
the week before. Demand for several
constructions broadened and prices
in some types were firmer.
Freight Loadings Gain
Freight carloadings at 695,845 cars
were 7.6 per cent higher for the week
ended June 6 than for the previous
week and los per cent above the cor
responding week of 1885 The total
neared the magic 700,000-car mark,
which by rule of thumb is supposed
to represent the dividing line before
profit and loss for carriers in the
aggregate. The upturn was greater
than normally anticipated.
Political events both in the United
States and France occupied attention.
but in neither case were they a factor
in business, it was stated by a ma
jority of observers.
Wall Street and other financial CEN
ters watched the efforts of Premier
Leon Blum and the Chamber OF Dep
with reform labor legislation in the
face of strikes and an outflow of gold
to New York.
Prices of securities on the New York
Stock Exchange we're substantially
higher for the week, with the Asso-
ciated Press index of so stocks ad-
vancing to $6290 from $60.70 the
week before.
Detailed Reports Given
Detailed reports on business condi-
k.,
districts follow:
BOSTON-Gray goods had a whirl
in the New England textile market.
Larger consumers bought on reports
that mills were reducing operations to
prevent an accumulation of goods.
NEW YORK-Retail trade was ac-
tive in the metropolitan area with de-
partment stores reporting increases of
more than 10 per cent over 1885. Gray
cloth trading expanded. General
wholesale markets we're especially &C.
tive. Dealers felt the effects of a
liquor price war as sales slumped.
PHILADELPHIA - Mere h ants
found trade pickup in seasonal lines
turing June. Factory production was
steady, but many textiles, particularly
hosiery, were still on the dull side.
cited increases in en-
ployment and pay rolls.
CLEVELAND-The steel trend con.
.inued upward, the auto parts indus
Try was busy, and pig iron shipments
we're heavier. Retail trade was
by the Republican con-
7ention in Cleveland, and Northern
Ohio bank debts we're 17.6. per cent
,ver the 1885 week.
RICHMOND - Sustained employ
nent and pay rolls provided gains in
retail and wholesale lines over the