Evening star., 1938-04-24
INDUSTRY LOSES
GROUND IN WEEK,
TRADE DECLINES
Steel, Motor and Electric
Power Output OFF,
loadings Gain.
1888 AUTO ESTIMATE
LOWERED TO 100000
Only Four Cities Report Retail
Sales in Easter Week Ahead
of 1887 Easter Period.
BY THOMAS E. FLANAGAN.

!
Associated Press Financial Writer.
Important industrial divisions lost
ground in the week just ended.
Retail trade generally throughout
the country was disappointing" for
the periods Immediately preceding and
following Easter, the Commerce De-
partment reported in its weekly sur
very of 36 cities.
Declines occurred in production of
steel, automobiles and electricity.
Freight carloadings gained.
Ihe Associated Press index Of in
dustrial activity declined after moving
IN a narrow groove for several weeks.
1t fell to 683 from 694 the previous
week and compared with 1858 in the
like week Of 1887.
The American Iron & Steel In
stitute estimated production at 32.4
per cent of capacity, compared with
32.7 the previous week, 1877 a month
ago and Alb in the like week a ycar
ago.
Auto Output Down.
Steel trade experts noted a decline
IN motor output for the week. Some
called attention to current estimates
indicating full 1898 motor production
AT 100000 cars and trucks-com-
pared with output Of somewhat more
than 100000 in 1887. Meanwhile,
1t was stressed. the steel industry,s
otner big customers, the railroad and
construction industries, have been
laggards.
Commenting on the outlook, Iron
Age said:
If there is any definite trend in
steel business 1t is downward"
1t pointed out that not only have
sales in the first half of April failed
to increase over the March rate, but
that they have declined in some in
stances.
Automobile production lines turned
out 60,563 units, compared with g.
02l the previous week and $4,000 in
the corresponding period last year.
Wards automotive reports said. The
survey attributed the downturn "pri-
marily to labor tie-ups At Flint,
Mich.
Reports from the Nations motor
centers said the industry held little
hopes OF a major upswing in consumer
demand during the current model
season. On the other hand, some
sales executives indicated that the
increase in new-car turnover which
started few weeks ago has not yet
spent itself.
Freight LOadings Higher.
Freight carloadings in the week
ended April Is totaled 537,5S5. the
Association of American Railroads
reported. This was an upturn of
per cent over the previous week but
20 per cent under the like week Of
last year. Traffic experts said the
increase was much more than normal
at this time of year.
Rail men noted that early reports
showed March railroad earnings sub
stantially under that month a year
ago. Meanwhile the Association of
| American Railroads reported equip
ment buying as of April had fallen
considerably under 1887.
| Production of electricity receded a
little to 1.957,573,00O kilowatt hours
III the week ended April 16, the
Edison Electric Institute reported.
The total was 99 per cent under the
like week last year.
Spending Awaited.
On the New York Stock Exchange
share prices moved ahead under the
stimulus Of the administration
spending program Wall Street ex-
perts said, however, it might be some
time before tangible effects of this
program could be measured with &C
curacy
While Easter week compared IA
vorably with the corresponding CAL
endar period of last year, only four
cities reported actual gains over the
Easter period last year. These cities
were New Orleans, Kansas City, Buff
falo and Minneapolis In New York
City, the Nations retail and whole
sale capital, there was a sharp fall
ing of in business Immediately fol-
lowing Easter. On the other hand,
reports from Chicago showed that
post Easter sales events helped stave
| oh>, q marked decline in sales.
The wholesale market in New York
and in other important centers
failed to respond to the quickening
influences that might be expected
with the advancement of the spring
season." the Commerce Department
reported