Evening star., 1936-04-26
Several Major Lines Rest
but No Signs of Early
Recessions Appear.
SOME EXPERTS FORECAST
CONTINUATION OF RISE
Heavy Demand for Farm Equip.
ment, Hardware and Garden
Tools Reported in Week.
BY RAIDER WINGET,
Associated Press Financial Writer.


reached last week by business and
industry in the United States, and
some authorities predicted a FORTH
coming advance to even greater levels.
In the aggregate there appeared to
be a resting spell in several major
lines, but at the same time there was
no indication of an immediate swing
downward into the anticipated annual
Summer dullneSs which affects several
seasonal enterprises.
Retail trade recovered somewhat
from the postmaster slump, but in
many sections of the country the total
of business was below the week year
ago which Immediately followed the
holiday.
In some quarters the condition was
ascribed to the belief that buying was
torn between Spring and Summer
styles in retail stores.
Farm Income Climbs.
Heavy sales were recorded in hard
ware and gardening tolls and rural
communities bought farm equipment
Of various kinds.
A Spring drought" was reported in
some Western districts, but at the same
time the Department of Agriculture
reported an increase of 20 per cent
in first quarter farm income to ST.
538, ,000, 900, not counting A. A. A. bene.
fit payments either in 1885 or 1886.
Including the payments. which were
lighter this year, the advance was
per cent.
The Department of Commerce in
its weekly survey to Wednesday Of
retail trade in 80 cities stated: Retail
trade throughout the greater part Of
the United Staes suffered by compari.
son with the previous week and the
same period last year."
Better business than last year was
found in San Francisco, Los Angeles,
Seattle, Pittsburgh, Cleveland, India
napoli, Charleston, Memphis and
Atlanta.
On the industrial front, advances
and recessicns about Cancelled each
other with the result that the ASso-
ciated Press adjusted index of business
activity remained unchanged at 858
per cent Of the 1929-30 average.
Auto Advance Shown.
Automobile production slowed down
its recent rate of gain, but the weeks
total output of cars advanced slightly
to 120,519 units, compared with 1888
a week ago and 110,970 a year ago.
The level is the highest since July
of 1929.
As a reflection of this and past
weeks Of operations, Chrysler Corp.
, reported its largest first-quarter earn
ings in history, which was surpassed
in the company's history only in the
! final three months of 1895. Earnings
per common share amounted to 81 65.
, General Motors increased its esti-
r mates of 1886 production, and some
5 motor authorities believe the 1886
total output of passenger cars and
i trucks in the United States and
S Conada this year may top 100000
s units, second only to the slightly
f higher 1929 total.
Steel operations gained to 70.4 per
d cent of capacity from 67.9 the pre-
e vious week and 44.6 per cent a year
;. ago. Some indications of leveling
: off were seen, but it was stated thaS
= definite downturn was not ex-
S pected until Summer because Of the
s requirements by automobiles manu-
facturers, railroads and construction
r interests.
e Carloadings Increase.
= Freight carloadings at 642,657 cars
), were 33 per cent higher for the week
n ended April 18 than the previous
IS week, and So per cent above the
= year before.
Miscellaneous freight loadings pro-
vided the major portion of the rise,
but decreases were shown only in
coal and coke shipments from the
previous seven days. The total was
higher than ordinarily expected at
this time of year.
Cotton manufacturing activity lost
y ground because of reductions in the
5 operating rates of many individual
I concerns, in some cases by SUBJ
I stantial margins. Declining prices
on several constructions and smaller
future orders were given as the cause
. of the curtailment in some quarters.
In the securities markets unsettle-
ment was caused by combination Of
o Federal taxation proposals. the fight
e between Eastern railroads and the
Interstate Commerce Commission over
an 7. c. c. order to cut fares by
June 2, the French elections today.
and general readjustments Of prices
following the uninterrupted 12-
month rise.
The Associated Press average OF 60
stocks on the New York Stock Ex-
change declined $180 on the week
and the average Of is rails was of
+ $2.4o.
Despite some evidence Of readjust-
Z ment throughout the economic pic
ture. retail and wholesale trade pre-.
O pared for special sales during the cur
rent week and anticipated growing
!, volume of business in the early Sum-
n mer which at least one authority
, predicted would be greater than the
best sales afforded by Easter.
@ Detailed Reports Given.
a Detailed reports on business last
n week in individual Federal Reserve
districts follow:
r. BOSTON-New England cotton tex
I tile mills began curtailing production
4 with a consequent beneficial effect on
n market prices. the mills action
$ stopping a downward trend. The
n Department of Commerce reported
r Boston retail sales "a per cent under
q year ago.
. NEW YORK-Special retail events
q drew crowds to metropolitan stores,
CONTINUED on Third Page.)