Evening star., 1939-02-12
Irregular Trends
Mark Industry
And Trade
Steel and Motor Coins
Offset by Power and
Loodings Declines
BY THOMAS E. FLANAGAN,

Dy 1HOMAS 4. fLANAOAN,
Associated Press Financial Writer.
Trade and industry were spotty
this week.
Small gains in steel and motor
production contrasted with limited
declines in carloadings and elec-
tricity output.
The Department of Commerce re-
ported industrial activity indi-
Gated no definite variation, though
in some sections there were indi-
vidual evidences of expansion. Re-
ports from some of the larger cities
disclosed unfavorable retail COM
parsons, in contrast with condi-
tions in other sections of the coun-
try, notably New York, Chicago,
Philadelphia, Baltimore and Gin
clnnati, where the decreases were
attributed chiefly to adverse
weather conditions. In other CEN
tiers decreases where reported were
slight
Heartening to business observers
were trade and industrial reports
for January issued during the week.
The following companies reported
January sales above the like 1888
month: General Motors. j. C. Pen
ney Co., F. w Woolworth Co. and
S. S. Kresge Co.
Steel Shipments Up.
At the same time it was noted
United States Steel Corp. increased
its shipments of finished steel in
January to the highest monthly to-
tai since October, 1887. The total
of 789,305 tons represented a gain
of 95,l01 over December, 1888, anG
27o983 above January a year ago.
Iron Age reported current steel
orders appear to be leveling off
with the exception of rail tonnages
which continue to pile up. '"Of the
business placed during the pas
week, rail tonnages were the mos.
striking" the review stated.
Furthermore, it was stated, rail-
road equipment buying in prospec'
also promises support for the steei
industry. In this connection.
analysts gave close attention to tho
announcement of the Union Pacific
Railroad of an equipment and i'm
provement program to put more
than $500 men to work
However, William M. Jeffers,
president of the railroad, said that
part Of the program depends upon
the assumption that present business
conditions will continue and that
there will be no adverse legislation
that will hamstring improvement
| Export Data Studied.
| One of the most important Items
entered on the weeks business rec
ord was report of the Department
OF Commerce showing that 26 coun-
tries had stepped up purchases in
this country during 1888. Included.
among the heavier buyers we're such
customers as the Netherlands, Russia
and the Scandinavian countries.
On the other hand, however, sales
to England were little lower than
in 1887. while declines were also re-
corded in sales to France, Germany.
Belgium. Italy and Japan.
! Vic ldlUOl NlllCll
rested favorable comment among
businessmen was the comparatively
healthy relation of inventories to
sales.
The following statistics were Is
sued during the week:
The Associated Press seasonally
J adjusted index of industrial activity,
based on l929-30 as 100, declined to
88.9 from 89l the preious week. A
year ago it stood at 70.4.
The American Iron g. Steel In
stitute estimated steel production
at 534 per cent of capacity. This
compared with 528 the preceding
week, SIT month ago and 3o.7 in
the like week a year ago.
Power Output Lags.
The Edison Electric Institute re-
ported that in the week ended Feb
ruary power production totaled
2,287 ,248,000 kilowatt hours. This
was slightly under the previous
week, but 9.8 per cent ahead Of the
like week last year.
Carloadings for the week ended
February 4 were reported at SIG, 100
by the Association of American
Railroads. This was 3 per cent un-
der the preceding week but up 81
per cent over the like week last year
Wards automotive reports said
motor production totaled 84.50C
units, compared with 78,410 ire
vised) the previous week and $3.50
in the like week last wear.