Evening star., 1937-08-08
Milk, Beef, Eggs and Butter
Boosted Hog Values Hit
11-Year Peak.
5 PER CENT RISE SEEN
IN SEARS CATALOGUE
General Motors Posts Increases.
Industrial Activity Shows
Seasonal Declines.
BY THOMAS E. FLANAGAN,

Hidluldctuleu prOuuCtS, strength OF
steel operations and seasonal recess
sions in some divisions of industry
stood out in sharp relief on the Ma
tion's business horizon last week.
In the necessity classification higher
prices we're posted for milk. beef, pork,
eggs, butter and other products in
Chicago markets Hogs rose to the
highest peak in / years.
omprehenslveness OF the trend to
higher prices was further illustrated
by the 5 per cent price lift shown in
the Sears -Roebuck Winter catalogue.
On the heels of last weeks mark-up
announced by the Ford Motor Co. came
word Of price advances by units Of
General Motors Corp 4
Metal Prices Lifted. =
Along the industrial front, where raw
material upsWings imply the possibility
OF higher retail prices for finished
products from pins to pianos. increased
quotations were noted for scrap stsel.
lead and zinc.
The Associated Press index of In.
dustrial activity declined to 1923 from
l04 the week previous and compared
with s5s last year.
The month of August made an au-
spicious beginning in the Nationwide
retail field said the Department Of
Commerce in its weekly survey of So
cities.
In substantially all of the reporting
cities business was ahead of last wear
by margins which in general ran from
to 10 per cent and in some instances
even much more.
wholesale trade reflected the better
situation in retail lines. and expecta.
tlons for generous Fall business were
widespread. This was substantiated in
part by heavy attendance at market
week events in different cities.
For example. initial registrations
for some 10 trade shows in Chicago
in connection with the Interstate Mer-
chants Council indicated approx
mately Is per cent more buyers in the
market than at this time last year."
Steel Operations Rise. y
The steel industry, unusually brisk
for this time of year, stepped up oper-
ations to 85.5 per cent Of capacity
from s43 the week before and ia
in the like 1886 week. the American
Iron & Steel Institute estimated.
Trade experts said that despits
steady declines in order backlozs,
enough business was on hand to in
dicate a continued swift output pace
through August.
The motor industry, which has been
less active than expected in buying for
1888 models will likely step up to the
steel counter more aggressively be.
fore long. it was said. 4
Something unlocked for cheered
steel men. 1t was the development Of
new inquiries for railroad equipment,
both domestic and foreign Another
reinforcement to the business, it was
observed. was the revival in general
foreign inquiry.
The automobile industry showed
most clearly the effects of seasonal in
fluence. 1t dropped production to
1876 units from s6, 4o3 the week pre-
vious. Wards reported. In the like
1886 week the total was 84,153. The
fall reflected further closings in pre-.
paration for the output Of 1888 models.
Power Output Down.
Also under the shadow of seasonal
factors was the electric power industry.
In the week end July 81 production
was slightly lower at 2,256 1895, 900 kilo-
watt hours. the Edison Electric Insti-
tute reported. Some encouragement
was derived in power circles at WIDEN
ing of the rate of gain over 1896.
In the latest week the gain over last
year was per cent compared with
rise of rs per cent scored in the
week ended July a.
Freight carloadings in the week
ended July 81 totaled 1872 $50, the As
sociation of American Railroads re-
ported. This was the third successive
rise and took the movement of freight
to the highest level since the third
week of November, 1896.
The aggregate was 02 per cent
ahead OF the preceding week, an up
turn of more than seasonal propor-
tions, traffic analysts said. 1t was ~
per cent ahead of the corresponding
period last year. A large gain in
haulage of coal contributed important.
ly to the upturn.
The stock market was swept along
on tide Of conflicting currents.
Much of the week pressure on rails.
steels and utilities contrasted with de-
mand for metals and specialties A
midweek rally petered out but the clos
ing session witnessed general improve
ment. Trading was quiet.
Improved earnings, more liberal
dividends and higher prices for metals
were among specific influences. Rails
were confronted with selling much Of
the time, although they stinened in
the middle Of the week on the report,
later substantiated, that a pay rise Of
5 cents an hour would be given mem.
bers of incorporating unions instead
of the 20 cents asked.
The bond market was mixed with
carrier loans under pressure Govern
ment obligations were steady. :
District Reports Given.
Reports on business conditions from
the IL Federal Reserve districts follow:
CLEvELAND-Retail trade was UP about
10 per cent over the preceding week. From
Toledo came word OF general activity we'll
ahead of last year.
R1CHMOND-Retail business continued
$3.50 s:tisfsHtofs pace n the fifth redsr.
showed moderate expansion over last year
Washington department stores reported .
rise Of 3s per cent over the like week
of 1885.
BOSTON-Department store sales were
3.2 per cent under q year ago. Commers
cial bank loans were up about 10 Peg
rant frorn 1aat rnttnN 0AA1 and