Evening star., 1937-09-26

American Iron e. Steel Institute This
compared with 74.4 in the CORE.
spending 1885 week when industry
was emerging from an unusual Sum.
mer of expanding activity with mn.
mentum which carried it forward 10
the end of the year.
Trade authorities said there had
been gain in steel demand but not
enough TO overcome the decline in
accumulated orders. Consumers. they
pointed out, probably had stocked lib
orally earlier in the year for protection
against strike interruptions of supply
and rising prices.
Auto Men Confident.
Metal producers looked to the motor
industry, a/spearhead Of the recovery
drive theiast three years, for a help
ing hand in the impending step-up of
production on 1888 models. About TO
launch the new sales campaigns.
motor men radiated confidence in sales
gatherings. In the changeover to
new models the big motor plants
were estimated in trade quarters to
have turned out only 28,o3O cars and
trucks last week, against 30,I50 the
week before, and several times that
flgure before the assembly line began
TO close on old models.
Residential building and rail eouip-
ment buying. two of the most pron1is-
ing sources of industrial revival until
few months ago. moved at a haltinr
pace. judging by latest reports. Both
were considered by competent authori-
ties victims of rising costs. Railroads.
especially, have been forced to re-
trench on expenses to offset losses in
net income, it was said.
Inc decline in security prices,
furthermore. blocked industry's road
to more capital in sale of new issues.
Revival in new offerings, at low ebb
for weeks, remained for the future.
District Reports Given.
Highlights in reports from the u
Federal Reserve centers follow:
NEW YORK.-Improveme in retail
Weather stimulated demand T va for h9lsSis Voode
Dollar turnover in department stores esti-
mated nearly l.. Der cent ahead of last
year. American Legion convention spurred
trace and hotel restaurant and smuse-
over dwindling backloss.
SOSTON.-Wool. cotton prices declined
and discouraged new buying. Also nttIs
ACTIVITY in leather. Retail sales figured
despite cloth buying squirt early in week.
reported curtailine pending new business
Cut in shoe output spread from staple 10
PHILADELPHIA weather acesI-
eps'eG era 5 9uying; especially in clothing Heat
imnroned INK Sne eiee5rieaI equipment demand also
RIcHMoND.wcool'i iVes Weather ferA' stimulated
goods. Wholesale trade more active Wash
lneton depertment store sales up o1 over
previous week and 21.7 over same 1896
week. Bank clearines also higher
ATLANTA: Retail trade improved. Fs-
timated TO have run about Is per cent
IN Birmingham area at SO per cent of ca
paclty. huctuating as furnaces underwent
CLEvELAND.-se steel districts
adluS1ed onerating rates to lighter buyine
Checks cashed substantially ahead of last
year. Retail trade, drop reported in wake
OF recent special sales. Toledo employment
steady at about 20 per cent above last
year. Auto accessory plants boosted out
put for new model schedules
CHICAGO.-Ideal weather spurred trade
Demand for clothing particularly good
Steel operations declined little, but pack
MINNEAPOLIS Farm cash income
from seven important products highest in
seven years; says Federal Reserve Bank.
Urban retail trade slightly above last year.
but somewhat smaller for August in
country
ST LOUIS IS-Unseasonably warm wealth
er tended TO restrict Autumn buying. Whole
sale trade also described as slower. Heavy
ndustrles, notably steel. reported new
orders fewer. but industrial and farm
employment said to be holding their
KANSAS CITY.-Retail trade per cent
above last year. Wholesale dry goods
hardware and other lines up about 10 per
cent Mounting operating costs seen
obstacle TO continued improvement
DALLAS.-Retail stores reported gains
ranging up to ass per cent above last
year. Cotton crop prospects for North
west Texas and Oklahoma held fairly good
SAN FRANCISCO.-Pacihc Coast trade
slackened. except in Los Angeles. Indus
trial construction more active. Wholesale
trade held about steady. Exports cur
tailed by war in China.