Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-23
RETAIL SALES GOOD
IN MOST SECTIONS
Chain Stores Doing Well and
Business in General Is
Picking Up.
BY j. C.. ROYLE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, July 23.-Some Of the
dark spots are tightening materially.
That does not mean that every one
in all sections is contented from a
business standpoint. Such a condi-
healthy. Many of those who COM
plain, however, are in the same il.
logical position as the retail merchant
who said today: Business is not as
good as anticipated. I hardly
thought it would be-"
In retail trade, this Is the season
of clearance sales and most of drives
to clear shelves Of Summer goods
have been decidedly successful. The
fact that goods so sold have not
brought top figures does not obviate
the fact that previous trading has
been Of such a character as to make
the average price high enough to
show a fine profit. Country mer-
chants are buying more freely as the
confidence Of the farmers in the agri-
cultural situation is passed on to
them.
Chain Stores Doing Well.
Chain stores and mail order houses
are doing specially we'll in most in.
stances. Among those who are not,
the reason is found usually within
rather than outside the company. The
sales outlook in general Is good be.
cause there still are plenty of jobs in
America with plenty Of workers willing
to take them at present wage levels.
The non.ferrous metals are lettering
their positions, which have been weak.
end by over.production for months.
The big producers Of copper have been
cutting down. The decline in lead and
zinc production has ben such as to
embolden producers to resume a Ger.
tain amount Of activity. The situa-
ton is not yet good. but it Is better
than 1t was.
If some parts of the coal industry
have done badly as result of the
soft coal strike, the non-union produc-
ers have done we'll. They have pro.
duced and sold more than they did
last year at this time despite the
heavy competition from the fuel oils
which have been at low prices owing
to the tremendous flush production of
the Seminole field.
Hurt Other Fields.
The Seminole production has hurt
oil companies not holding properties in
that district, but it has brought huge
fortunes to property holders within
that magic area. More than 72,995,00
barrels OF high gravity crude have
been produced since the field was tap.
ped, July Is, 1926. The 500, 000-barrel-
a-day level now is in sight and the
field has surpassed any other high
gravity pool in oil history. 1t covers
now a territory 20 miles in length and
embracing 1880 square miles. The
boundary lines are constantly being
extended as bigger and better ledge"
wells are brought in.
The trend of building materials Is
still downward, but while dwelling con.
struction has fallen off, the volume of
public construction work has in.
creased. 1t does not seem to matter
much what kind of building is going
on so long as 1t provides an outlet
for materials and assures employment
for the building trades at high wages.
Labor costs have moved upward as
materials went down. Common brick
has dropped 81 thousand in some
sections. Cement prices are fairly
steady. The lumber industry has in.
creased in its sales 80 per cent, al.
though prices have not advanced
Steel is stronger.
One by one the weaker companies
in the textile trades are passing out
panies are solidifying their positions.
The move upward is not sharp. but 1t
Is such that workers in New Bedford
have felt confident enough to strike.
Automobile Sales Expand.
Stimulated by the introduction of
new models, passenger automobile
sales have shown q tendency to ex-
pand. Within the next few weeks the
new Ford models and new designs by
General Motors, the leaders of the in.
dustry, will be presented. Competi-
ton is as severe as ever, but about
six concerns will have the best year
in their histories.
The steel trade Is benefiting some
what by the improvement in the auto
mobile industry, but in general con-
ditions are quiet. The agricultural |
situation has strengthened. if any |
thing, in the last week.
AS barometer Of prosperity the |
Sharkey-D Dempsey fight Thursday |
night cannot be overlooked. Any time |
over $4,000 people can afford to spend |
over $1,250,000 Qncluding gouges by |
speculators) to see a sporting or
amusement event, the buying power |
Of the country can be said to be un-
diminished.