Evening star. [volume] (Washington, D.C.) 1854-1972, 1936-10-11
INDUSTRY FORCES
AHEAD AS RETAIL
TRADE IMPROVES
Six-Year Peak for Freight
Loadings and Rise in
Auto Rate Cited.
ALL SECTIONS REPORT
INCREASE IN BUYING
Abnormal Gains Shown, Particu.
larly in Southern Cities-Whole.
sale Activity Maintained.
BY THOMAS E. FLANAGAN,
Associated Press financial Writer.

BY THOMAS E. FLANAGAN,
Associated Press financial Writer.
A six-year high for freight car
loading and sharp gain in motor pro-
duction helped drive the Nations in
dustry ahead last week, while retail
trade quickened despite adverse
weather in some regions.
Rejecting slightly less than sea-
scnal improvement in some divisions,
the Associated Press index of indus
trial activity was trifle lower at 96.2.
The preceding week it stood at 96.4
and in the Like week year ago, 1911.
Retail trade moved to considerably
higher levels in substantially all parts
of the country during the week ended
Wednesday" the Department Of
Commerce reported In its survey Of
81 cities.
THE advantage over the same PEE
Rod last year also was general, with
abnormal gains in number of cities,
particularly in the South. Wholesale
distribution moved forward along
similar lines in most important CEN
ters," the review said.
Shipments Climb.
Aided by heavier shipments of all
commodities except grains, the move
ment of revenue freight advanced Is
per cent to 8l9,126 cars in the week
ended October 3, the highest in six
years and 16 per cent ahead of the
like week of 1885. the report of the
Association of American Railroads
showed.
While shipments Of miscellaneous
freight turned in a substantial gain,
haulage of ore and coal made a par
ticularly good showing and bore wit
ness to the steady pace of industrial
activity.
An upturn in automobile production
to 39,945 units from $4,000 a week
ago and 81 ,643 in the like week last
year, according to Grams estimate,
was studied in motor circles in the
light of the report of General Motors
Corp, which showed the increased
vitality of automobile consumption.
In September the corporations sales
to consumers totaled 85,201 cars, the
highest for that month since 1929.
Reports from the industry said
motor assemblies were being stepped
UP as fast as possible and will possibly
be near capacity within the next
few weeks. Estimates in well-in-
formed circles pointed to 1887 pro.
duction at from 10 to Is per cent
over this year.
Power Output Gains.
Electric power output in the week
ended October 3 was up little from
the previous week to 2169,442 900
kilowatt hours, 1854 per cent ahead
of the corresponding week of 1885,
the Edison Electric Institute reported.
Analysis said the pace of energy
production was attributable both to
steady demand for power for in.
dustrial use and to domestic needs,
which have been boosted in some
measure by gradual shortening of
| daylight hours.
Steel operations were comparatively
steady at 1853 per cent of capacity,
| the American Iron & Steel Institute
reported. This compared with 754
per cent a week ago and 4s.7 per
cent in the like week Of 1885.
Based on broad demand, steel com.
panies we're said to be striding into
the final quarter of the year with
the largest untitled orders on hand
since 1929. experts disclosed.
OF prime importance to steel
makers, it was explained, Is the
readiness with which most steel Is
moving into consumption. The auto
mobile industry, throwing production
into higher gear, was said by author
tiles to be an aggressive buyer, while
farm implement companies, railroads
and others were ordering in good
volume. Among the principal users
of steel only the building industry has
failed to keep up with the others as
taker.
Wide Upturn Seen.
How well retail consumers have
been holding up their end was illus
trated by September sales reports
coming to hand during the week. most
of which showed wide upturns over
the like month year ago.
One of the brightest samples:
Montgomery Ward & Co. had a Sep.
TENDER total of s33, 357 ,194, the high
est for that month in the history of
the company and 32.5 per cent above
the like month last year.
Continued persistent demand for
bank loans, most of which were for
business purposes, was among the
significant aspects of the week.
In the week ended September 80.
"other loans" of Federal Reserve
member banks in 10l cities advanced
$40 100000 over the week previous to
S., 949, 900, 900, the highest in several
years. Banking circles said current
indications point to further gains in
this important index of enterprise.
Helping to confirm the impression
of general recovery was the report OF
a wide increase in telephone installa-
tions. In September the Bell System
reported an upturn Of 10000 tele-
phones in service, compared with Q
gain of 81, 100 in that month Of 1885.
In August there was an increase OF
SO 900.
Financial markets had help from
two directions. Buying OF securities
from abroad combined with a feeling
of growing confidence over progress
toward settlement Of International
currency distress following devalua-
ton of the French franc. Meanwhile
the strongly running tide Of favorable
domestic business news provided buy
ers with incentive.
Both shares and bonds thrust ahead,
at times on the heaviest activity in
several months. Some stocks pushed
to the highest level In six years, while
(see INDUSTRY Page G-2)