Evening star., 1923-12-09
HOLIDAY BUYING
WELL UNDER WAY
Heavy Purchasing Reported
All Over Country-Anxiety
in Dry Goods Trade.
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK. December 8-Business
barometers everywhere are register
ing good business and as the holiday
trade gets under way reports from
east and west. indicate the beginning
of heavy buying movement. From
Chicago come reports Of such heavy
retail business that merchants are
not coming in from middle western
territory for the annual clearance
sales. In New York merchants see an
extraordinary bright Christmas ahead.
The Federal Reserve Board reports
a substantial increase in sales during
October in sos stores in the twelve
federal reserve districts. The Depart
ment of Commerce finds the general
activity in production and distribu
tion extending into November. The
National City Bank of New York re-
ports general business good in No
Vember, with rather more confident
sentiment In industrial and financial
circles, and cites the revival of build
ing as most encouraging symptom.
The Exchange National Bank esti-
mates the country's requirements in
new buildings at $S,oo0.o0o.Ooo.
Savings Deposits Gain.
Savings deposits in $50 banks all
over the country are reported by
been on November !, nearly 10 per
cent greater than on November ], 1922.
Better conditions in northwest are re-
fiected in the statement of the Federal
Reserve Bank of Minneapolis that the
operating banks in its territory, ex-
cept in isolated instances, are in a
better position statistically than at
any time since 1919.
In the dry goods industry, and
trade the situation created by the
Higher prices have developed for
Egyptian and Indian as wen as Tor
American cotton. The Financial
Chronicle, an authority on cotton,
declares that eurtailment of cloth
output is the only solution of the
higher prices. The National Whole
sale Dry Goods Association, in its De-
cember bulletin, says that cotton
piece goods are now selling below
replacement cost. OF this, indeed.
there can be no question.
On the other hand. manufacturers,
naturally enough, are refusing 10 ac-
cept orders for delivery beyond near
by dates. Nor will New York job
bers sell goods for delivery beyond
not know what they will have to
pay for goods. Jobbers are selling
such staple fabrics is popular-p priced
nainsooks at, 4 to cents less than
what they will have to pay for them
Shoe Exports Increasing.
Exports of boots and shoes show a
gain of Ala per cent for the first
ten months of this year over those
OF the same period of 1922. Both pro
duction and domestic distribution of
shoes are proceeding on moderate
scale.
The increased movement of auto
mobiles from factories to dealers this
month reflects the desire of pro-
ducers and retailers TO forestall any
car shortage In the spring. when
heavy buying period is anticipated.
Production of cars for stocking pur
poses as we'll as to meet current
requirements, will keep plant activ-
ity at satisfactory level in Decem-
Der, with promise of a return to high
operating schedules following the
opening of the new year.
Further slackening in sales and
production is to be expected this
month. due to normal conditions, but
the aggregate output will be con-
siderably greater than that of year
ago.