Evening star., 1949-12-25
Brisk Retail Trade
Aids Business and
Industrial Upturn
By 6. A. Phillips
,oeioted Press Business Writer

NEW YORK, Dec. pa strong
finish in retail trade powered a
new upswing In commerce and
industry this week.
Many indicators OF activity
we're at the highest point since
early this year. Others compared
most favorably with the best per-
formance chalked up since the
current boomlet started. Still
others broke records standing 20
years or longer.
At the end Of the six biggest
retailing days of the year, virtu-
ally every observer in the retail
trade was confident volume fig
ures would show a new high. If
they do, it will be the 18th year
in a row that new records have
been set for the country's vast
store business.
While there was some disap-
pointment at the slow demand for
special lines of merchandise
standard Christmas gifts priced
within the means of the average
shopper hit the jackpot time and
again.
Unseasonably warm weather In
Eastern States hurt the winter
sports trade but prospects were
excellent that this merchandise
would move with the first snow
fall.
Television Sales Soar.
Television sales, high enough
to bring gasps of astonishment
from veteran retailers. continued
at a high level.
John w. Craig, head man ir
the big Crosley division OF Avco
Manufacturing said TV business
this year had exceeded the fond
est hopes of the industry and
the future looked rosy from where
he stood.
"The industry generally fore
cast that 100000 receivers would
be made and sold this year. he
said. "The number actually has
reached 2,70O,000. = - There has
been a tremendous surge in de-
mand in the last three months
and it is probable that 100000
more receivers could have been
sold in these three months had
they been available" He added:
"Te1evision will continue as the
Nations fastest growing industry
in the coming year."
Except for dwindling coal sup
plies that kept railroad operating
executives sitting on the edge of
their chairs and a lot Of ordinary
consumers worried about becom-
ing cold, the business picture was
clear and sharp this week.
Stocks at New High.
The stock market anchored it.
self at another new high mark
since the middle of 1948. The
giant American Telephone & Tele-
graph Co. signalled clear sailing
for bonds by announcing a new
5000, 100000 debenture issue TO,
early subscription. Railroad
bonds hit new highs for 1949 on
three separate days and there
was a sharp demand for new mu-
nicipals.
On the Industrial front steel
production was the highest since
the middle of May at 94.5 per cent
Of capacity. This compared with
last weeks 94.1 and 88.6 a year
ago when Christmas on Friday
cut into output. Tonnage this
week was 1,742,100 against l.
734,700 last week and 1897 900
a year ago.
Everything appeared so rosy in
this industry, Notwithstanding
some grumbling by consumers
over the increase In prices, that
Carnegie Illinois Steel, the larg-
est single producer, fired up its
old 32-inch mill at the Homestead
Works in order to add to overall
output. The mill had been out
Of operation since last June.
Automobile production bounded
up sharply to the best point since
assembly lines were slowed or
stopped for a variety Of reasons
including a shortage Of steel, in
ventory-taking and model change
over. A total of lis .495 units were
assembled in this country and
Canada against 1925 last week
and "a, 1858 a year ago.
Power Output Expands.
Electric power production hit q
record high for the second week
running at 5,996,606. 900 kilowatt-