Evening star., 1936-09-27
INDUSTRY FORCES
UPWARD IN WEEK,
RETAILERS BUSY
Store Sales Uneven in Some
Areas, but Continue Ad-
'* vance in Others.
ALL SECTIONS REVEAL
BIG GAINS OVER 1885
Wholesale Trade Is Buoyant.
Advance Buying Heavy in
Pacific Coast Cities.
BY THOMAS E. FLANAGAN,
Associated Press Financ.aI Writer.

BY THOMAS E. FLANAGAN,
Associated Press Financ.aI Writer.
Steel operations, freight carload
ings and electric-power output thrust
to new recovery highs last week while
retail trade, though uneven in some
sectors of the Nation, drove ahead
in others under stimulus of cooler
weather.
"Retail trade for the most part moved
along In goodly fashion during the
week ended Wednesday" the Depart
ment of Commerce report on 81 cities
said.
Lack Of crisp Fall weather IN a
limited number of areas put the
brakes on Fall buying, but in sub
stantially all parts Of the country
retail turnover gained momentum
from the previous week and went far
ahead Of the same period last year.
Wholesale trade generally was
buoyant and important Pacific Coast
cities reported heavy advance buying.
'In areas where warm weather lin
gered well into late September there
were heavy recorders. while Fall buy
ing. supplemented by holiday ousi-
ness, was brisk"
The Associated Press index Of ir-
duStrial activity rose to 947 from
$40 the previous week and ITO in
the like week year ago.
Steel at New Peak.
The steel industry pushed on 70
q new recovery peak. Operations
were up to 744 per cent of capacity
from 72.5 per cent a week ago and
48.9 per cent in the like week last
year. the American Iron g. Steel In
stitute reported.
Word from the steel front cited
scarcity Of raw steel which was slow
ing down the pace Of finishing mills.
Brisk buying Of sheets by the motor
industry and wide miscellaneous de-
mand was said to have given come
sheet mills nearly full bookings
through November.
In surging forward to an un-
precedented high, electric power pro-
duction. reported at Alto, ,s07 900 kilo-
watt hours in the week ended Sep
tember 10 by the Edison Electric
Institute, scored a gain Of 17.2 per
cent over the same week Of 1885.
Experts explained the advance in
terms of continued heavy demand
for electricity for both industrial and
household uses. In approaching the
2,200, 100000 kilowatt hour mark. the
latest weeks rise served to bolster
the belief in some circles that ex-
pansion of capacity will be neces-
sary.
Freight Loadings Soar!
A new high in freight carloadings
since the week ended November 10,
1880. emphasized the sharp gains in
railway operating profits recently re-
ported and brought nearer the day
when numerous systems will be
obliged to step vigorously into the
market for new equipment and roll
ing stock, observers said. Wall Street
estimates indicated September rev.
enues would likely hit top for that
month since 1880.
For the week ended September 10,
loadings shot ahead to $3.50 cars,
an increase Of 1873 per cent over the
preceding week and Ill per cent
ahead Of the like week last year, the
Association Of American Railroads
disclosed. Comparison with the pre-
ceding week was qualified by inclu-
sion of the Labor day holiday in the
period ended September u.
Auto Output Small.
Automobile output continued to
bump along bottom for the year.
Grams estimated production down to
1850 units from 33,615 last week and
1894 in the similar 1885 week. Cur
rent symptoms of increased purchas-
ing power provide a background for
output gains expected within the next
several weeks, experts said.
Analysts of the business and fnan-
cial scene enumerated the following
cheering factors which came to hand
during the week: More liberal divi-
dends, reports Of sharp sales gains
from widely scattered divisions Of
trade and industry and continued ex-
pansion in demand for bank loans for
business uses.
Financial markets, boosted some
what early in the week by force Of
favorable business news, turned shaky
as the French financial crisis became
grave. but braced up later when
France, in cooperation with Great
Britain and the United States, acted
to remove the barrier of currency con.
fusion, which has hampered world re.
covery.
Detailed Reports Given.
Reports Of business conditions in the
II Federal Reserve districts follow:
BOSTON-Rising. raw material prices
provided the highlisht Of the leather in
active and prices strong. Demand % Tor
NEW YoRk.-cooler weather braeed
and turnover reached the best levels In
wholesale activity was well ahead OF last last
pHApEEPHiA@Moss SHsnf IN sRssfeii brsnehes o,
per =; cent NJ : sdvantsss over year .so was
W
kets enjoyed substantial demand.
| CLEVELAND.-Retai trade was OF
following Fall sales. The American
Legion convention brought substantial
business to gift departments. Toledo re-
ported employment UP for the fourth
RICHMOND.-Unfavorab weather In
| the NTH Federal Reserve district con.
| tinued to check retail trade. but whole
| sale activity improved, aided In part by
| firm prices. Baltimore bank clearings
| were up PA per cent over the like 1885
| week.
ATLANTA.-Cooler weather whipped
up buying enthusiasm in retail and de-
fhirst t four days days we were " reported pretty W
| good" but not quite equal to the pre-
| vious week.
CHICAGO.-Retailers reported business
| steady. Warm weather handicapped trade
early In the week. Demand for home
furnishings was brisk. Buying OF ehils
ST, LoUls.=An Estau NneS showed
Leee uTDUSTRY paRe GAL