New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-09-25
Merchants Along Famous
Street See Better Times
Coming, nut Continue
to Operate Cautiously
Fall Weather Is Needed
Larger Stores Report More
Units of Merchandise
Sold Than Last Year


classes also does its shopping, there is
an ingrained belief that better times
in business will come gradually and
that the Improvement will be so slight
from time to time to be scarcely per-
ceptible One retailer feels that con-
ditions will show little change before
next spring and possibly not until next
fall. Others are frankly optimistic
about the volume Of business that may
be done this fall and winter, with the
mental reservation that much depends
upon the weather. To the layman the
relation of the state of the weather,
or rather the proper kind of weather
at the proper season, to business is not
clear. On the avenue now the retailers
would regard cold weather as decided
advantage. Last year at this time the
weather was favoring the retailers.
This year it is not, with the result
that merchandise that normally comes
into demand in the fall season, with
few exceptions, has been moving slowly.
One of the largest department stores
on the avenue fell behind its sales of
last year during the first twenty days
of September II per cent in money
sales transactions than it did a year
ago The retailers feel that to make
progress they must sell a vastly in
creased amount of goods over what
they sold in the era of peak prices.
Selling the same number of units Of
merchandise. in the opinion of most
retailers, will spell ruin for the aver
age merchant, since the cost of han
ding and selling merchandise has not
declined from the peak, as much as
have the prices of the goods sold.
Prices Lower
In this connection the uptown branch
of the Bank of America recently COM
pleted a survey of the retail trade on
Fifth Avenue which disclosed the fact
retail prices on the shopping avenue
have come down from 20 to 40 per
cent from the peak prices Of 1920,
while selling costs have shown but lit
tie decrease and are now at least 80
per cent above pre-war levels.
"The clientele of the fashionable
the results of it's survey, "is making
price an important consideration in its
purchases, according to the merchants
reports on the one question on which,
they show unanimity. In rating in
order the various factors that enter
into buying-price, quality and style
price leads in all the answers. This
is the case even in sporting goods.
'The customers price interests has
heen met by marked reduction in all
the stores in the great shopping cen
ter. Prices have come down from the
highest recorded by 20 to 40 per cent.
In sporting goods most articles are
priced at 20 to 80 per cent below the
hpt cfi ko,
the pre-war range. Hats and other ac-
cessories are down IS to 40 per cent
below the highest levels. Shirts and
haberdashery of the highest quality
are lower by 20 per cent Women's
garments of all kinds have been con-
siderably reduced, but are still almost
so per cent more costly than before
the war"
Further evidence of the Importance
of price, even on the avenue, is shown
by some of the recent advertisements
IN which the present prices for new
fall merchandise are compared to
prices for similar or exact qualities
last year. In the days before the war
except on sale merchandise, was in
jeopardy of losing caste. Bargain hunt
ing among the wealthy has become al
most fashionable, according to some of
the retailers.
Retailers Buy Cautiously
Despite the price reductions we have
made" said the head of large Fifth
Avenue store, 1--WE find our customers
complaining of the high prices on some
of our merchandise. Neither are they
convinced that present prices are at
rock bottom This is reflected in our
own attitude toward the wholesale mar
kets. There is tremendous lack Of
faith to-day, extending from the con-
sumner all the way back to the primary
markets for raw comm ODDITIES. Re-
establishment of this faith will be nee
essary before business can again be-
come normal"
Some of the Fifth Avenue merchants
are frankly astonished at the large vol
ume Of business they did throughout
the spring and summer, in view of the
general business depression. Most of
of them. Here in our store we thought
that the public would practice rigid
economy by going to the cheapest pos
sible merchandise. This has not been
true. We find our best quality goods
moving more freely that the poorest
qualities. Again, the number of Gus
toners in our store has increased,
which was surprise to US, as we had
expected the reverse. However, I think
that this is explained by the apparent
detection of trade from some of the
smaller shops to the big and we'll
known stores"
eny Price Advances
Among several Fifth Avenue retail
ers interrogated on the question Of
prices not one was found who feels
that any sharp price advances are pos
sible at present. All of them have
been watching the spectacular rise in
raw cotton recently, but, the say, it has
had no stimulating influence on con-
sumner demand in the way of purchases
IN anticipation of price advances.
Neither has it Influenced the retailer
TO cover" his requirements further
ahead than he originally planned. The
average retailers attitude, as found on
Fiith Avenue, is decidedly against any
thing like buying for the far distant
future, regardless of price fluctuations
IN the manufacturing and holesaline
heids. The merchant has his ear cooked
toward the consumer, rather than the
source OF his supplies. He is endeavor-
ing to find out what the consumer
wants and how much he is willing to
nay Tor it. Then follows the search
Tor the goods in the wholesale market.
Middle States Oil Earnings
The Middle States Oil Corporation
reports for the six months ended June
81 net income. after charges and re-