Evening star., 1933-03-12
BY JOHN A. CRONE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 11-Persistent
strength of commodities in the whole
sale primary markets, heavy purchases
of groceries on charge accounts, sharp
curtailment of gasoline sales, because
of the shortage Of ready cash, and
gratifying response to promotion sales
were high lights in the business picture
this week.
Naturally retail trade was greatly re-
stricted, because of the banking holl-
day. Changeable temperatures were
blamed for the lack of interest gener-
development was reflected in the unset
tied wholesale markets for many nm
ished products.
Large Open Orders.
Cancelled orders and postponed ship
mentS were numerous, but most OF these
instructions came from the smaller
merchants and were offset by the huge
open orders being written up for chain
stores and other large retail establish
ments. which were trying to protect
themselves against advancing quotations
that are bound to follow spurts in basic
raw materials.
On one point all commentators were
agreed-the public displayed strong
spirit to carry on business despite diff
ficulties. This spirit proved that conf
dence and credit alone can keep the
mechanism of commerce functioning
with almost clock-ike regularity despite
the lack of money of the comforting re-
assurance of a gold support. -
The gold embargo naturally upset i'm
port trade. The lack of of1icial foreign
exchange quotations in terms of the
American dollar retarded export activ-
tiles. Both of these difficulties. how
ever, will tend to disappear with the
banking moratorium.
Business leaders stressed the fact
that there has been too much banking
ANY banking reforms that will tend to
keep bankers in banks and out Of
plants, factories, railroads and ships
will be welcomed by leading Industrial
lists, many Of whom blame their plight
either on what bankers havesdone or
have not done.
Advertisers Get Business.
Retail stores here that did the best
business this week either offered un-
usual credit facilities or advertised such
unusual merchandise values that these
could not be resisted. Taxicabs esti-
mated their traffic was cut SO per cent.
Railroad and steamship traffic also
dwindled, but this was due mostly to
the lack of cash. The commodity and
security exchange shutdown enabled
many bankers, brokers and clerks to
take vacations but only few Of the
more progressive travel agencies seized
that opportunity by offering to accept
checks.
Spring buying is expected to be de-
layed from two to three weeks as a re-
suit of the financial situation, accord
ing to Dun & Bradstreets weekly re-
view
although Easter is not many weeks
distant" this authority continues,
much less than normal provisions have
been made for Spring stocks Of mems
suits and topcoats. In the women's ap-
parel division coats, especially the fur
trimmed variety, continued in brisk de-
mand, with blue and gray the leading
shades. Recorders on fur-trimmed suits
were heavy and there was an active call
for the swagger suits in three-fourth
and seven-eighth lengths in both mono
tones and tweeds.
"A number Of cotton goods houses
withdrew all prices early in the week
to await banking developments and to
provide against q possible rise in cotton
prices following the sharp advance In
Liverpool and Southern spot markets.
Shoe Production Gains.
"Shoe factories are increasing steadily
their production Of the cheaper lines Of
mems and women'S shoes, although
handicapped in some centers by labor
troubles, and slightly more activity Is