Evening star. [volume] (Washington, D.C.) 1854-1972, 1937-04-18
Finished Goods Mark-Ups
and Roosevelt Warning
Also Studied.
INDUSTRIAL INDEX UP
FURTHER DURING WEEK
Retail Trend Remains Upward
Despite Some Irregularity,
Reports Disclose.
BY THOMAS E. FLANAGAN,
Associated Press Financial Writer.

mated the national business scene last
week.
World spectators in grains and
other staples recently in demand by
rearming nations dumped holdings on
reports Europe would try to bolster
its peace foundations.
The drop in major raw materials
including wheat, corn, cotton, rubber,
copper, hides and scrap steel was
studied in business circles in the light
Of two important antecedent factors:
Cd Markups in prices of finished
goods in widely diverse industries and
CD President Roosevelts pronounce
ment durable prices, especially steel
and copper, had gone too high.
Reports that demand from trade
sources had come into some markets
at the week end served to accentuate
the fact trade and industry are still
rolling along at an accelerating clip
in many divisions.
Index Moves Higher.
The Associated Press index Of in
dustrial activity advanced to 1O4.9
from 1041 the week before and $50
in the like week last year. 1t told in
part story of increased steel, electric
power and motor production and less
than seasonal drop in freight car
loadings.
The trends in retail trade were for
the most part toward increased
volume, although throughout the
country as whole they we're by no
means uniform" the Department Of
Commerce said in its survey Of 81
cities.
Local conditions, including partic-
ularly weather and sales promotions,
brought about results of varying
character. The uncertainties which
characterized retail trade were like.
wise reflected in wholesale lines"
Steel operations pushed up to eo.3
per cent of capacity, the American
Iron & Steel Institute estimated. A
week ago it was at 500 per cent, q
year ago, $40.
Experts reported new steel business
has slackened somewhat. but this was
generally expected in view of the
heavy tide of orders in March which
covered consumers needs rather fully
for the second quarter.
Interest in the industry conferred
on whether declines in scrap steel
and iron and non-ferrous metals
might take the edge off the appetite
OF steel buyers. The answer to this
may be more apparent in the next
few weeks, observers said.
Auto Output Climbs.
Automobile output bounded sharply
ahead to l24,970 units this week from
1896 (revised) a week ago and 1893.
1874 in the like week of 1886, Grams
reported
Wards Reports, Inc. attributed the
upswing to the revival of activity by
Chrysler. outturn by this company
being estimated at 21,650 compared
with none last week, when plants were
closed by the strike
Electric power production increased
l.3 per cent to 2,176, 900 kilowatt
hours in the week ended April 10, the
Edison Electric Institute reported. It
was the fortieth consecutive week
power held above the 1000, 900, 900
kilowatt hour mark.
The gain over the like 1895 week
was 1876 per cent. Analysts noued it
was the third consecutive week in
which the rate of gain over last year
had narrowed. The increase over the
preceding week, power circles said, re-
Elected the resumption of soft coal
mining after the recent brief strike.
Loadings at 1904 Level.
In the week ended April 10 freight
car loadlngs totaled 1904 cars,
decrease of is per cent. but an in.
crease of ISL per cent over the CORE.
spending week year ago.
Although the recent loadings trend
has afforded comparatively little in
spiration to business analysts, bright
spot on the railroad ledger has been
the appearance of unusually good
earnings for the first quarter.
Hopes OF more liberal dividends
frightened the business horizon as
shareholders at annual meetings Of
steel, textile, electrical and building
companies heard reports of stout or.
AS1 DeAShioeo dlio PlOllI LII OFClIlcllIs
High spots were limitations by
chiefs Of Bethlehem and Republic
Steel Corps, the Nations second and
third largest steelmakers, respectively
that the time might be drawing
near for action on common share
dividends
Significant to students of major
business trends was the News Home
Building-large employer Of men and
raw materials-is well ahead Of last
year. Construction in 81 States east
Of the Rockies In March, jumped to
$231,246. 900 from sl98, 900 the year
before.
Stocks Retreat Later.
The stock market moved quietly
ahead following the Supreme Courts
upholding of the Wagner labor re.
lations act. It skidded downhill later
under the impact of topping COM
modify prices. Coppers and steeE
were hard hit.
A rally In U. s. Government bonds
was the most important phase Of the
bond market. Rail bonds were well
liked at times. The corporate sector
had ragged look as the week tIdSed.
Underlying sentiment III boyd lii
cles was continued confusioR & 8p1n-
ions about Federal credit, FNd9et
problems. Interest was restricted a
some traders withdrew to await the
Presidents budget message to Con-
gress next week. y--ss-.-...sI
Detailed Reports Given.
RICHMOND.-Cooler weather's retard-
Ing influence on trade was offse' in the
nth Federal Reserve district by Ttensiys
merchant buying in anticipation . rising
prices. Washington department stored