Show Industrial Index Shows Small Drop V NE YORK Jan Jm 25 UP The Thc The Associated Press index of ot Industrial activity confined to narrow fluctuations fluctuations flue flue- since a recovery peak was reached in mid-December mid dropped this week from froin to Steel mill activity was the lone stalwart In the index with sufficient forward drive to better l last t weeks week's figures Automobile output declined con- con tra seasonally as did total car loadings load load- ings electric power production and cotton manufacturing Residential building also was lower loter |