Evening star., 1936-04-19
BUSINESS CLIMBS
FURTHER DESPITE
TROUBLES ABROAD
Retail Trade Is Irregular,
but Spending Rises Well
Above 1885 Marks.
INTEREST IN SUMMER
APPAREL SPURS PACE
Wholesale Markets Prepare to
Place Complete Lines Before
Store Buyers This Week.
BY RAIDER WINGET,

Associated Press Financial Writer.
American business took cognizance
of tangled European troubles II the
past week, counted up favorable
factors in the domestic situation,
and moved forward to the highest
levels of the year.
Only in the security makets and
other international financial quarters
did the marching armies aud howling
mobs in Europe, Asia and Africa
cause uneasinesS.
Retail trade presented an uneven
picture beacuse Easter shopping came
earlier this year than in 1885, but
even so there was a distinct increase
in the amount of money spent by
consumers.
For the entire month, authorities
estimated the total would be from 8
to IS per cent higher than a year
ago for the country as whole, but
some sections were expected to fall
below that point due to local weather
conditions and other factors.
Immediate Interest Shown.
Retailers noted an immediate a.
terest in Summer apparel and fur
nishings once Easter had been OBJ
served, and wholesale markets pre-
pared to place complete lines be-
fore buyers this week.
The Department of Commerce in a
survey of 33 cities for the week
ended Wednesday noted that while
post Easter influences brought some
slackening in volume of retail trade
from the previous week, gains over
the 1885 week were well sustained in
most areas"
Wholesale trade, it was stated, was
stimulated generally by flll-in orders
and a spread of demand to house
furnishings, hardware, implements
and other heavy goods lines.
The Associated Press index of in
dustrial activity jumped to the high
est point Of the year, S5.0 per cent
of the 1929-30 average.
Automobile and steel production
again were leaders. Motor makers
turned out ll9,834 units, compared
with 1888 the previous week, and
established a record going back to
the Summer Of 1929.
Such tremendous forward strides
were attributed by authorities to a
combination of earlier introduction
of 1886 models and revival OF con-
sumner demand which exceeded all
previous expectations.
A tappering off. it was stated.
would not be surprising in the near
future.
Steel Gains Impressive.
Steel producers set up record
equally as impressive, with operations
at 67.9 per cent of capacity, as estl-
mated by the American Iron and Steel
Institute. the highest since mid-193o.
The orders of the automobile indus
try loomed important in the advance,
but steel is depending more heavily
than for many years on takings by the
railroads. 1t was stated by some that
even with a slackening in require
mentS for motors, steel mills still Will
have plenty of customers.
Railroads themselves were not left
out in the general revival, and car
loadings for the week ended April IL
reached 622, 1873 cars, an increase of
l.3 per cent over the previous week
and 81 per cent over the correspond
ing week a year ago.
The outstanding cause for the boost
was the rising tempo of coal ship
ments. The movement Of ore dis
played the second largest increase OF
the week because of the opening OF
Great Lakes shipping for the Summer.
Another heavy industry, construc-
ton, offered a spotty appearance.
Engineering construction awards for
the week ended April IA totaled
S54,756,O00 compared with $26,087,-
600 for the similar week of 1885, but
the first-quarter earnings of leading
companies in the building field were
disappointing when revealed this
week.
Market Reaction Sharp.
The reaction in the stock market
to the earnings statements was
sharp, and many felt that early en-
thusiasm for the prospects of this
heavy industry was overdrawn.
Aggregate earnings of the first SO
corporations to report for the first
quarter showed a Is per cent in
crease over a year ago, with two
thirds of the concerns in the plus
column. Oil, electrical and farm
equipment firms made the best show
ing.
Europe contributed to the advance
in the price of foreign bar silver in
New York to As cents fine ounce
from 44.75 cents when Indian and
Chinese buying brought an increase
IN the London price. The rise was
the first since August %. 1885.
Foreign demand TOR copper like
wise resulted in strengthening in
the European price structure which
forced a lift in the quotations Of
domestic producers to uniform $50
cents pound.
The Associated Press average Of so
stocks declined So in the past week to
S62.7O. Profit taking and a shift