Evening star., 1939-01-29
Building Holds
Trade Spotlight
Over Nation
Industrial Rate Keeps
Steady Pace; RetoiI
Gains Appear
BY THOMAS E. FLANAGAN,


Associated Press Financial Writer.
Developments in the building in
dustry this week left no doubt that
it continues one of the brighter
aspects of the general industrial
situation.
The Commerce Department, not
ing that "all branches of the trade
were favorably affected" entered
the following cheerful items on its
ledger:
Building in Cleveland was more
than triple that reported for the
similar 1888 period, Rome, Ga, re-
ported IS projects employing about
$500 workers and costing about S4,-
OO0,0O0 now operating in that Sec
tlon, plans were announced for the
construction of a manufacturing
plant in Fort Worth by the National
aircraft Corp, contract was
awarded for new State house at
Columbia, S. c., the Consumers
Power Co. in Michigan announced
plans for S16,0000O0 construction
and expansion program in 1899,
Southern California Edison will
spend mora than $4,000, 900, mostly
for new construction.
Trends Slightly Mixed.
Reports from other quarters
showed the Nations industrial ma
chine was rolling along at a steady
clip. Although steel and motor pro-
duction were shaded a little. elec-
tricity output and carloadings
gained. Retail and wholesale trade
IN most cities ran ahead OF last
year.
Analysts turned a respectful ear
toward Benjamin F. Fairless, presi-
dent of United States Steel. Speak
Ing in Chicago on the business out
look, he said, present indications
are that We are still in that part
OF the recovery cycle within which
the physical volume of business may
rise, or at least hold the gains that
have been registered"
Various contradictory forces at
work underneath the surface of busi-
ness statistics were closely studied BY
the financial and business commu-
nifty. Foreign unrest shook the
| stock market down. The trickle of
new capital issues remained dis
hearteningly small. The national
debt Jumped to new top. Bank
clearings held little above last
years level.
Government buying stimulated
sales of electrical equipment. Busi-
ness loans of Federal Reserve mem
Der banks throughout the country
slumped to the lowest point in four
years. Iron Age reported that con-
tinued uncertainties "at home and
abroad" put a damper on the steel
industry.
| Wholesale Records Set.
| The wholesale markets usually
provide gauge Of confidence. In
the week just closed wholesale con-
ditions were generally healthy"
according to the Commerce Depart
ment. Various wholesale shows
brought record attendance. Buyers
from the Midwest and New England
reflected greater purchasing con-
| fldence."
Industrial statistics issued during
the week included
The American Iron and Steel In
stitute reported production of
slightly to 51.2 per cent of capacity.
A month ago the rate was 1873, a
year ago 32.7.
Electric power output in the week
ended January 81 totaled 2,289, $780,
900 kilowatt hours. The Edison Elec-
trio Institute said this was a small
rise over the preceding week and So
per cent higher than the correspond
ing week of 1888.
Wards Automotive Reports said
motor output dropped to $500 units
from 90,205 the previous week and
compared with 59,365 in the like
week a year ago The survey said
unfavorable weather had reduced
sales during the latest week, but that
deliveries we're well above the like
1888 period.
The Association IF American Rail-
roads reported carloadings at 500, 1859
in the week ended January 81, a
trif1e higher than the previous week
and 3.5 per cent better than last
years like week.
|