Evening star., 1938-12-18
Retail Activity
Sweeps Higher
During Week
Industry Shows Usual
SIockening Tendency
For Years End
BY THOMAS E. FLANAGAN,
Associated Press Financial Writar

1oooSiotCu fIcoo luduClal WIlLeT.
A rush Of Christmas shopping
swept the Nations retail trade over
last weeks levels.
Other reports on business
throughout the country were mixed.
The motor industry still drove
ahead with increased speed, reach
ing peak for 1888, but other Sec
tions Of industry showed the nor
NAL year-end tendency to slacken.
Steel production and freight car
loadings dipped little. Electric
power output rose to new high for
the year. The showing of this in
dustry reflected continued brisk de-
mand for power in manufacturing
centers. Gains over 1887 were
chalked up in the New England,
Central and West Central industrial
areas.
With the year approaching its
end, attention of business analysts
was focused on retail and wholesale
trade. Buying of Christmas goods
was so brisk that it produced short
ages in retail stocks in some parts
of the country.
Although this activity sluiced
fresh business into wholesale trade
channels, trade experts reported
that some business was lost be-
cause of the inability of some whole
salers and manufacturers to rush
fresh merchandise.
Unit Volume Climbs.
In its review of business in 81
cities, the Commerce Department
reported:
indications were that the stores
will break even or slightly exceed
last years volume for the full month
of December, with unit tranasac-
tions showing fair sized gain.
practically all Southern cities
registered substantial gains in re-
tail business over last year. Activ-
ity was slightly disappointing in
Los Angeles, and colder weather
was needed in st. Louis to stimulate
the movement of winter goods.
In many cities it was noted that
interest centered mainly in lower
priced holiday goods, though others
reported good business in higher
priced merchandise and luxury
items"
A factor which also held atten-
ton of businessmen was the con-
tinued activity in residential build
ing and general construction. Gov
ernment economists had before
them reports which indicated that
work under way in these fields was
expected to 90 much to quicken the
pace of the heavy goods industries
in the early months of 1898.
Employment Increases.
Employment and pay rolls picked
up in various cities, but this was
in part the result of seasonal ac-
tivities. Nevertheless, analysts said
these increases were better than
normal in some regions.
Business enthusiasm for scat
tered expansion in purchasing
power was tempered to some extent
by the realization that it was f1ow-
ing partly from Government SPEND
ing for both relief and Federally
sponsored projects. Critics of Gov
ernment spending again insisted
that they would like to see private
enterprise employ more men and
increase pay rolls.
The automobile industry, in push
ing production to new high for
1888, had few stout props on
which it leaned. New passenger car
sales in Wayne County, Mich.-a
significant trade barometer-jumped
about 100 units over the previous
week and were nearly double the
corresponding week of 1887.
Wards Automotive Report said:
Sentiment throughout the industry
indicated that the lag in production
and sales during the forthcoming
winter weeks would definitely be of
less than normal seasonal propor-
tions."
Rail Orders Hailed.
Skimpy railroad buying Of steel
has worried steel men in recent
months, but during the week trade
circles reported railroads have been
coming into the market more boldly.
This was hailed particularly be-
cause other consumers of steel have
been showing the usual year-end
disposition to hold down invento-
rieS.
In was emphasized, however, that
railroad buying of steel was still
far under normal and railroad ex-
perts were quick to point out that
demand for new equipment would
not be robust until many systems
get more cash in the till.
Major industrial statistics Of the
week included: Steel production,
as estimated by the American Iron
and Steel Institute, was 576 per
cent of capacity. This compared
with 626 per cent-the years peak
"a month ago and 27.4 in the like
week of 1887.
Wards reported automobile out
put at 102,905, compared with 1OO,-
705 the previous week and 82,025 in
the like week last year.
The Edison Electric Institute re-
ported that in the week ended De-
cember 10 output totaled 2,318,550.-
900 kilowatt hours, a new high for
1888, and an increase of Sc per cent
over the corresponding period a
year ago.
Freight carloadings in the week
ended December 10, as reported by
the Association of American Rail-
roads, totaled 619 $40, down 46 per
cent from the preceding week, but
slightly ahead of the like week
last year.
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