Evening star., 1936-01-19
BUSINESS HOLDS
WELL ABOVE MARK
FOR 1885 PERIOD
Trend DistinctiveIy Favor.
able Also When Compared
With Week Ago.
LOWEST STORE STOCKS
IN 6 YEARS FORECAST
Wholesalers Find Greater Interest
Among Retailers in New
Spring offerings.
BY RAIDER WINGET,


ing power was absent in business and
industry last week, the economic status
of the Nation remained distinctly
favorable when compared with the
previous week and the comparable
period year ago.
A slowing down in retail trade was
noted in some sections of the coun-
try, in many cases because of unset
tied weather, but various surveys de-
clared business in the aggregate much
better.
Wholesalers found a greater interest
among retailers in new Spring lines,
and a decidedly cheerful tone was
sounded by one survey. which stated
retail stocks by the end of this month
should be the lowest in six years.
Federal Report Cheerful.
The Department of Commerce for
the week ended Wednesday reported
retail trade in substantially all parts
of the country maintained a consis-
tent upward trend.
In few isolated cases the volume
dropped below the levels of the cor
responding period last year, but in
the country as whole there were nc
indications of any slowing up in the
forward movement of trade improve
ment."
Industrial activity. as measured by
the seasonally adjusted index of the
Associated Press, remained unchanged
from the previous week at 85.8 per
cent of the 1929-3O average. A year
ago the index was at 76.l per cent.
Most significant developments were
In the automobile and steel fields.
Motor output fell to 95.l70 units, a.
estimated by Grams, from $3.50 units
the previous week. A year before the
figure was 86,973.
Decline Not Alarming.
The decline in itself was not regard
ed as alarming, since authorities be.
lieve the total for January and the
first part of next month will indicate
more clearly the effect the earlier in
PRODUCTION of models will have on the
industry as whole.
There are some analysts, however
who say the demand for steel by man.
ufacturers in December was made al
the expense of January output. SteeI
production as estimated by the Amer
ican Iron g. Steel Institute last week
was 494 per cent CT capacity an in
crease Of 2 of percentage point from
the preceding week. A year ago the
rate was ATS per cent.
Following several weeks of stability
the Iron Age composite price of SCRAP
steel went to S13.42 a ton from 1888
a movement which many believe pres
ages a new upward tendency.
Cotton manufacturing activity las,
week and electric power production
and residential construction for the
previous week remained virtually un-
changed in the Associated Press index
Freight carloadings for the week
ended January II moved sharply
higher to 615,028 cars, from SAL 1884
the previous seven days. The bulk OF
the improvement came from addi-
tional shipments Of miscellaneous anc
less than carload lots.
Midwestern manufacturers of farm
equipment so far have found nc
marked reduction in the demand from
farm centers, and some of them pre-
dict there should be no material DROP
in farm purchasing power because Of
the stoppage of benefit payments un-
der the A. A. A.
Meanwhile, President Roosevelt and
his aides discussed the possibility OF
including crop control measures under
the seldom -publicized soil conserva.
ton act of 1885.
While gasoline and petroleum pro-
ducers and distributors welcomed gen.
orally increased prices, the silver in
terests were unsettled by Accent
drop in the price of imported bar sill
yer to 45s4 cents fine ounce in New
York last week.
Detailed Reports Given.
Detailed reports from individual
Federal Reserve districts follow:
BOSTON.-Retai trade revived fol-
lowing post-holiday dullness. Good
prospects for the shoe industry were
outlined by trade authorities. The
cotton market remained in confused
state pending determination. of an
equitable basis for refunding taxes.
NEW YORK.-With retail business
about 10 per cent ahead of 1885, lead
ers said the margin of gain was in
creasing. Dry goods markets were
cautious, but out-of-town buyers in
increasing numbers broadened the de-
mand for Spring lines of merchandise
indicating a depleted state of store
stocks.
PHILADELPHIA. - Signs Of an
early revival were shown in retail lines
and sales compared favorably with a
year ago. Wholesale markets were
dull, produce slow, factory activity un-
even. Hosiery and shoes, however
picked up momentum.
CLEvELAND.-Steel operations in
creased in the Cleveland-Lorain and
Youngstown districts. Parts and ac-
cessories slowed in line with slightly
lower auto production. Retail trade
declined except in furniture, which
was stimulated by sales events.
RICHMOND.-Retail trade was re-
tarded, largely by unsettled weather
but 1t still compared favorably with
the preceding year. The disturbance
also was noted IN wholesale dry goods
and general merchandise. but dealers
expressed optimism for Spring.
ATLANTA reported retail
business better While not showing a def
mite trend. it was higher than week ago
and q year previously. Birmingham steel
operations remained at Al per cent OF
capacity. Bank clearings declined
CHICAGO.-Retailers found business up
to expectations the past week. with volume
slightly ahead of last year. wholesale ac-
tivity was unusually brisk. Home furnish
ings enjoyed the best sales at Winter shows
in years. Buyer attendance was 80 per
cent over . year. ago and orders gained
IS to 200 per cent.