Norwich bulletin., 1922-11-04
IMPROVED eoNpITIeNs sHeWN lN NEW ENGLANp

and is spending it's money mare freely. The September sales of this group of depaFtment sseFss were larger even than m September, 1920, vixen Fesail prices wsss 'asasasg s hhsT ss, scs sss at xa the grns ef sales in Fsyds. pa,lnds, and plee= es, as SpN as the dollar value of the merchandise which Is passing from EllsEcaants' aaRas te eonsumers, is large and will without leuht increase between now and Ghrissmas, as is qsgai at this season of the ysaf, The retail trade statistics gathered. hy this bank con tain 3 WafalHE Retei however iaasmueh as sha iaEEsF gTegP et asnaFtmfat aI.;at Essss thaa soston Efpsrt that their stocks of
 nercheadise are lower nov than at this time ia either of the three previous years. Wemen's apparel shops in Bes= ton FsnsFt the same condition. Mer- , chants have been buying from hand to mouth fer sometime, and apparently the increase iR business this fall, together with delays fin shlpmsxts caused by the ear shoEtaEe. has reduced their stocks ite iaEeF neInt than they had antlci- patea. Thig is 2 semeBhat similar sit uatlea te that which existed in the lat 1 ter RaFt Of 1919. in fact, the whole tFansRaFtatiea situation recalls yivialy
 the expeFieHee ef late 1919 and early l 1920. There is already a serious short age ef avallable freight ears. In fact,
 tFiets ea ceFtaiR commodities. The num- Der of bex cars aVailabie for use has
 been dwtRdling fer several meaths,
 while at the same tiRe there was aa 1 ineTeasiRG demand which could net be l tanaedtRtsiy filled. The reason fer the aRsaFeRt sqFPins and shortage at the sane tinas is simply that sH some reads l there is an excess number Of ears and en
 etheEs aeaeit. Tie shsytage in New
 England is Ret ss serious RrepeEtleastsiy as in ths country as 9 %hele, although
 t Is distinctly R9tleaabte.
 Fas traaspsFtat!en situation Is fEaqght Wisi possibilities of both geeG
 ana harm. If merchants and ethess
 learned the lessons ef 1920 thoroughly aHd have the courage to BToAt by thai exAeTieAee aew, tAis period of iHsde, Agate tFaaspeJtatioH may tend te keeI manqfaetgFins from exsandIng fastel and farther thaa fundamental eoaqi
 tleas HarFant, and thus, iH turn, tsnt l to pesfsaEe the period which usuaiiy
 comes n an era of prospeFity Waei are #affaatsd by the actual demands
 The frtseht car shortage, ia otRfl
 weFas, nay make for 3 falriy long De . Ftad ef msdefateay Eeea business. If, oi ] the other hand, an apparent shortage D goods aeveieps because merchants can
 not get silinnsats and they forget tn
 lessons of 1928 and begin dupilcatinI
 their eFaeEs in the hope that they vii get at least q part of the merehandis II they wish, theA 1t Is easily possible ths prices will respond to the large increas
 in the HuHlbeF Of unilied orders due |
 this duplication eR PIaelng them, an,
 business win appear to De much bette than t really is, Manufacturers ma thus be temetsa te produce for steek l
 anticipates ea the time when they ca
 ship this BasFehandlse te their custom
 !! CTS, so that when the tFanAaestatie :; RheFtaes Is overcome, conditions vi ! he ripe fer cancellations, as they wer F ia 1920. It is impossible, of course, g feresee at the present time which on 7 ee the tive courses will be followed l There was considerable duphestieH ( : ordering ia September and early oety l. Der, but later in the month it scene a to have suhslded somewhat. There va i tendency for prices of seFHe aeFaIned c ties to sag after being marked up ra i theF rapfdiE iR HepteMeeF and earl a October. This was true, fer inatspe \ Of iFeR and stsei Fhs test of the sI !. uation wilt cons . little later as bus n ness sEpaaes az- 2 result q the halida n trade.