New-York tribune., 1922-08-29
Weighted Index for 10
Commodities Increases
2.3 Per Cent Over Last
Year; Retail Trade Steady

Wholesale trade in this district
showed d larger gain last month in
comparison with the previous year
than did retail sales, which have been
holding UP exceptionally we'll. The
Federal Reserve Bank of New York
Yesterday made public some compare
tive figures on retail and Wholesale
trade in the Second Federal Reserve
District.
The weighted index of wholesale
trade In this district, computed by the
bank from reports received from 122
dealers in ten important commodities,
shows that the July sales were 2.3 per
cent greater than the sales OF July a
year ago.
aThs is the largest gain over the
same month in the preceding year that
has been made, since June, 1920" says
the bank. ssThe gain reflects greater
confidence Of retail merchants In plac-
ing fall orders and the somewhat
higher prices which some of the COM
modities now command.
"Sales in July were larger than in
July year ago in eight of the COM
modities. Shoes and dry goods showed
losses. Our index of shoe sales has
been greatly reduced by the closing OF
number of factories in Rochester for
several months on account Of labor
troubles. The erratic fluctuations In
the price of raw cotton have retarded
sales of dry goods, as buyers are re-
luctant to order until prices become
more stable.
"A 43 per cent increase in sales of
diamonds since year ago was due to
were greatly reduced Sales of dia-
monds are still only about one-ffth as
large MS in July, 1919. The increase
in machine tool sales reflects greater
activity i'll industrial plants"
July sales of department stores in
this district were about the same as
those of last July, according to the
bank, which states:
"The largest decline, which amounted
to 6 per cent, was reported by those
stores that sell apparel exclusively
and was due to somewhat lower prices,
particularly in connection with special
sales. In New YORK City the depart
ment stores reported an increase of
2.3 per cent. due mainly to larger sales
of housefurnishings rejecting the
completion of larger numbers of new
residential buildings. Sales in Buffalo,
! Newark and Syracuse were about per
| cent below those Of last July, Sales
in Bridgeport increased s per cent fol-
| lowing greater activity in manufactur-
ing plants in that city.
| midsummer is normally the dullest
! period of the year in the business of
| department stores, as many people are
| away on vacations and in New York
| City the stores are closed Saturdays.
July sales were about one third below
| those of June, and in normal years
| August sales are slightly below those
| of July. They increase in September
and the height of the fall buying sea-
| son occurs in October
/ "July sales by mail order houses
were nearly 20 per cent greater than
/ those of last year and reflect the i'm
| provement in the financial position of
agricultural districts, where the bulk
Of mail order business originates. Mail
order sales continued to be much be-
low the levels reached In 1919 and 1920
"July sales by the chain store sys-
1 TENS that report to this bank were
| 1873 per cent greater than those of
| July last year. With the exception OF
the and 10 cent stores, this increase
has been due largely to the opening
of new stores by the reporting sys-
4 TENS.
4 Sales by shoe stores show loss oil
2 per cent, due to lower prices. The
| number Of pairs Of shoes sold by these
stores was 5.5 per cent greater in
July of this year than last. The aver
age price pair declined 72 per cent
from 1888 last July to S3.37 in Jul,
of this year.