Evening star., 1938-10-09
RETAILERS LOOK
T0COM|NCWEEK
WITH CONF F|DENCE
Trade Still Below 1887, but
Wholesale Orders Begin
to Expand.
INCREASES
LIKELY TO SPUR SALES
Copper and Textile Prices Rise.
Building and Clearings Up.
Shoe Demand Gains.
BY THOMAS E. FLANAGAN,

hoooSidtcu fIeSS r luHnCldl WrlteE
The Nations business took a fresh
lease on life this week.
During September threats of war
abroad tended to numb initiative.
Nevertheless, experts who looked back
found that trade and industry on the
whole had showed unexpected resil-
ience.
Industry turned in a good record.
Measured by the Associated Press
index, industrial activity reached a
new high for the year. The figure
rose to 10 from 1874 the preceding
week and compared with 99.2 in the
like 1887 week
This reflected gains in steel and
textile production, motor output,
freight carloadings and home building.
The only major division which suf-
fered a setback was the power
industry, but even in this sector,
the increased demand for power in
industrial areas afforded some en-
couragement Utility experts said the
slight decline in the Nations cleo
tricity production was an aftermath
OF the recent hurricane in the North
east.
Trade Still Lage.
Retail trade continued to drag
behind last years in most centers.
Reports from many cities indicated
that September had been disappoint-
ing. However, merchants for the most
part looked for increased employment
and payrolls to increase consumer
demand during the next several weeks.
This confidence, in turn, had its
effect on wholesale markets. Buyers
were little bolder. The Commerce
Department said that although most
demand continued on a hand-to-
mouth basis, some concerns COM
menced to fulfill winter needs:
Again, as in recent weeks, there
were miscellaneous favorable trends.
Cotton prices braced up Building
permits increased. Prices for cotton
textiles nudged ahead. Retail shoe
sales in important centers jumped
above last years. Buying of furni-
ture and other household equipment
increased. Bank clearings were larger
than those Of the previous week.
New Financing Due.
Two large bond issues were regis
tered with the Securities Commission.
From Wall Street came reports that
IF markets are right" stable wave
OF new financing may sluice new en-
~ hrIc oh
A brisk pickup in railroad shipments
of miscellaneous freight was reported.
Steel trade observers found the pulse
of the industry's three major consum-
ers-the motor makers, the shipbuild-
ing industry and the railroads-strong-
er. They reported that operations in
the steel industry might rise to as high
as SIS per cent of capacity before the
end of the year. This would be a rate
at which most companies could turn
profit, they said
The American Iron and Steel Insti-
tute estimated operations in the steel
industry at 47.9 per cent of capacity,
compared with 46.7 the preceding week.
A month ago the rate was 39.9; a year
ago, 66l.
LOadings at New Peak.
Carloadings were reported by the
Association of Railroads at 697,938 in
the week ending October l. A new
peak for 1897, this was an increase of
33 per cent over the previous week,
but decrease of l7.3 per cent from
last years like week.
Wards Automotive Report said mo-
tor output was 1866 units, compared
with 25,045 the preceding week, and
1883 in the comparable week q year
ago.