Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-16
WEST COAST TRADE
OUTLOOK BRIGHTER
SIS, 000,0 900 Railroad Exten-
sion and Increased Store
Sales Reported.
BY the Associated Press.


SAN FRANCISCO, November 10
Rays of financial sunshine, shining
through the clouds, have frightened
numerous spots on the business horizon
Of the Far Western United States.
One $15,o00,oo0 demonstration of con-
f1dence was the completion last week
of the Western Pacific and Great North
ern Railroad extensions, celebrated at
Bieber, Calf, when railroad notables
l..shered for bit Of exercise at driv-
ing gold spike at the last rail.
To show the faith of the railroad
builders was not misplaced, a lumber
company sent out shipment of III
carloads of forest products-the longest
train In the history of railroading-the
hour the new road was opened. An
other lumber company almost matched
this gesture with a similar train of its
own products a few hours later.
Store Sales Increase.
One Of the most cheering; signs was
the news from the Federal Reserve
Bank here that II leading department
stores on the Pacific Slope eclipsed last
years october sales in October this
year. That was on money basis.
AS to volume of goods, many Of the
other 10 stores that did not match last
years dollar sales had a greater busi-
ness in goods handled. Their lower
cash income was due to lower prices.
Stores reported collections Of old ac-
counts we're coming in more freely.
Persistent reports from merchandise
ing circles in San Francisco that trade
had been picking up gradually for some
weeks were backed by statistics. For
example, the Federal Reserve Banks
check on San Francisco's 13 reporting
stores showed october trade, on q
money basis, only At per cent under
October, $780, A month earlier these
same stores had averaged 9.8 per cent
under 1880.
Consumers were getting the benefit of
considerably reduced prices. This made
1t appear the San Francisco stores
handled substantially more goods than
a year ago.
Oakland's leading stores gave sta
ttstics that pointed to similar situa-
ton. Trade magazine reports pointed
out an improving tend had been indi-
Gated by small merchandisers some
weeks earlier than by the large stores.
Customers Set Record.
Another spot of light was furnished
Dy The HdClIlC GdS q E1cCtIlC w., WLAAC1b
reported it had more customers than
at any previous time in its history.
Several coast corporations strength
ened their financial position. They
used cash on hand to buy their own
shares in the open market, retiring the
stock at what the arrangements con-
sidered bargain prices.
The financial position of banks took
a turn for the better. Reports indi-
Gated a return Of funds to checking
accounts. Loans were cut down and the
banks used the money returned to them
to reduce their own borrowings at the
Federal Reserve. The Reserve bank
here, in turn, strengthened its reserves.
Banks had more funds than needed
for these purposes and made invest
ments in Government bonds. Mean
while they maintained cash on hand
far in excess of ordinary business needs.
Pacific Northwest grain growers
cashed in on lately elevated grain prices.
A Spokane report said. Inland Empire
farmers had sold 100000 bushels Of
wheat in the last 10 days, around the
peak Of the market"
The California Turkey Growers As
ISOLATION stirred the Thanksgiving spirit
with good news for everybody but the
turkey. There was a big supply, the
association reported, and a good de-
mand. This turned out to maintain a
fair price to growers, at which they
could make good profit, due to lower
costs. 1t helped dealers with plenty Of
business. Yet prices were about 20 per
cent under last year, and this cheered
the thankful citizen.