Evening star., 1936-11-29
Index of Factory Activity
Hits 98.8, Best Mark
Since December, 1929.
COLD AND INCREASING !
HOLIDAY SALES CITED
Wholesale Markets Reported
Keeping Step With Faster
Tempo in Retail Business.
BY THOMAS E. FLANAGAN,
Associated Press Financial Writer.

Associated FreSs FINANCIAL Writer.
Most divisions of trade and indus.
try pushed forward throughout the
Nation last week. consolidating gaini
for 1886 and paving the way for pos
sible further assaults on recovery
heights.
The Associated Press index Of in
dustrial activity advanced to 9S.S,
highest since December, 1929. A week
ago it was $50. year ago $40.
Citing "cold weather and increasing
holiday demands" as principal fac
tors, the Department Of Commerce in
its weekly business report of SO cities,
said: Retail trade in all parts of the
country held to its steady improvement
over last year Wholesale markets
kept step with the faster tempo of re-
tail sales"
Quickening Of the pulse Of steel
production was explained in trade cir
cles in terms of price advances which
drove in anticipatory buying, heavier
railway equipment orders and more
liberal demand from the motor in
dustry.
Production rose to TAB per cent of
capacity from TAI the previous week
and 55.4 in the same 1885 week, the
American Iron & Steel Institute esti-
mated.
Freight Loadings Gain.
Bolstered by heavier movement of
coal, miscellaneous freight and less
than-carlot merchandise. car loadings
advanced enthusiastically in the
week ended November 81.
The total, reported at 789, 500 by the
Association of American Railroads,
was up 0.6 per cent over the preced-
ing week. and 21.9 per cent ahead OF
the like week last year.
Apart from the favorable loadings
showing. railroads held much Of the
business spotlight by virtue of sharp
gains in October net operating In.
come over 1885, and aggressive buyins
Of equipment.
100 Locomotives Ordered.
Topping the list of equipment buy.
ers was the New York Central System
which ordered 100 locomotives, thi
largest single order since 1880, when
Chesapeake & Ohio bought los.
Continuing to enjoy brisk demand
for power from industry, and enter
ing deeper into the Winter season with
its heavier call for lighting and heat
ing. the power industry turned out
2,196.175 900 kilowatt hours in the
week ended November 81. the Edison
Yv,ct ~. -
l2.4 per cent ahead Of the like week
last year! Contributing Importantly
to the improvement were upturns in
the Central industrial and New Eng.
land regions
Motor Output OFF.
Owing to interruption of the holi-
day, motor production fell to l04,283
units from 110.160 the week before
and 93,995 in the same period last
year, Grams reported.
Hopes of motor executives. It was
said. still hung on expanding pur-
chasing power which was augmented
by additional pay boosts and more
liberal dividend actions over a broad
front.
High on the list Of organizations
sluicing funds into dividend channels
was United States Steel Corp, whose
directors ordered payment of 81 on
arrears Of the preferred stock. This
action meant more than $25,o00,000
to stockholders.
Other important and special divi-
dends were declared by the following
companies: American Can. National
Lead, j. c. Penney, st. Joseph Lead.
Public Service of Northern Illinois,
First National Stores, Royal Type
writer, American Bank Note and
Westinghouse Electric.
On the New York Stock Exchange
shares felt the reverberations once
more Of complications arising from the
Spanish civil war Early in the week
stocks fell under selling. which brokers
attributed to the foreign war scares.
Later, as tension relaxed, the warm
glow of improved domestic business
news put traders in the mood to bid
prices up briskly.
In the bond market, trend Of aver
(See TRADE PAGE G-20