New-York tribune., 1922-06-29
May Sales Reported to Re
serve Bank SO Per Cent
Greater Than in 1921;
Wholesale Trade Equal
to That of a Year Ago

N Nay. for the second successive
month. department and apparel stores
IN The Second Reserve District reported
sales ahead OF last year. according TO
the monthly review by the Federal
Rsserve agent here. In money value
the May sales were 3.6 per cent greater
than the sales in May, 1921. April
sales exceeded the previous ApriIs
total BY 2.3 per cent. The iarge sales
in April were accounted for by Che
late Easter. but no special stimulant
was apparent in May.
MAY sales" says the review. were
the largest Of any May for when
records have been compiled. with the
exception Of May. 1920, which was
marked BY unusually large retail safes:
u was during that month that one OF
the large New York stores announced
price reductions o. 90 per cent on al
articles in the store. and a number OF
other stores followed with sweeping
reductions.
Additional evidence Of the increased
demand Tor goods during May IS found
IN the increase Of s.6 per cent, as com
parcd with May. 1921, IN the number
cf Individual transactions. reported by
tnst stores that maintain such records.
This Is the largest increase in the
number Of transactions reported thls
year. The average amount Of each
Transaction declined o. per cent, from
$3.50 in May, 1921, TO S264 IN May,
1922
"A feature Of statements from mer-
chants this month is the uniformity
Of the report that sales have been gen
orally good In al departments. Sales
q apparel stores we're about the same
percentage above those for May. 1871.
as were sales By department stores
which also sell housefurnishing goods
and piece goods.
"F0r the first month since July, l"2O.
sales by mail-order houses exceeded
those of the corresponding month Of
the previous year. and the increase was
q large one, amounting 90 ls4 per cent.
This is evidence that higher prices OF
farm products are resulting IN an i'm
portant increase boz the purchases made
by rural communities.
"The somewhat larger distribution of
merchandise through retail channels
chain stores Dollar sales hy all re-
porting chain store systems m Nay
we're i3 ptr cent larger than in May
p year ago and i.5 per cent smaller
than In April this year. The largest
gain over May, 1921, was reported by
grocery firms and amounted % p per
cent This was due in large measure,
however. 90 the opening Of new stores.
and average sales per store show
decrease Of per cent. Sales by five
and ten cent stores increased Is per
cent and those by apparel stores per
cent
"The chief decrease in sales. which
amounted 20 10 per cent, was reported
by shoe stores. due principally 20 lower
prices. The decline in the actual mum
her Of pairs Of shoes by these firms
was but l.6 per cent. The average
rrice per pair declined 2 per cent. from
si0s in May. 1921. TO 1911 IN May Of
this year"
The weighted index of wholesale
trade maintained by the bank shows
that the dollar value Of sales by whole
sale dealers in this district in ten prin-
ciDnl commodities was practically the
same during the month of May as dur
ing May Of last year. This is tho first
month since tho fall of 1920 in which
sales have eoualed those Of the corrc-
sponding month in the previous year.
In comparison with April figures May
sales show increases In all lines OK
coDt clothing. shoes and machine tools.
Declines in clothing and shoe sales are
usual a. this season.