Evening star., 1933-11-03
PRICES
RESIST DOWNTURN
Decline Checked Substan-
TALLY as Sentiment Grows
for Gold Plan.
Special Dispatch TO The Star.


NEW YORK. November "a sub
stantial check to the doWntrend OF COM
modify prices was one OF the most sig
nificant developments in the business
world this week. This tendency along
with sentiment favoring the purchases
Of gold, outweighed the outcropping Of
discomfort against certain administra-
tive acts Of the N. r. A., the further de-
cline in the industrial indices, and the
slower pace noted in both retail and
wholesale markets.
The continued raising Of the price OF
gold-if not Offset by other forests
like a major gold field discovery in its
effect on general price levels, though
professional economists lost in imitation
ary discussions and commodity dollars
fail to see this simple fact. If a mer-
chant buys 1000 yards of cloth, based
on yard SO inches long. and there is a
revision of the yard length to 18 inches,
he will have 1900 yards of cloth. II
other factors do not Offset this new
measurement, the merchant may be bet
ter of than when he had only 1000
yards. At least that Is the way some Of
the more thoughtful trade leaders here
view the gold purchases.
N. r. A. Plans Criticized.
Discomfort against N. r. A. activities,
or rather certain aspects of them. was
formulated in resolutions drawn up after
a meeting here Monday of the National
Association Of Manufacturers. This
meeting, which appointed an Advisory
Committee, consisting of 26 leading
trade association officers, was the first
solid front presented against some of
the N. r. A. activities.
Steel production this week reached
the lowest level since last April Btu
minouS coal outturn improved. Electric
output was above that of 1882 for the
tWenty-siXth successive week Car load
ings continued better than year ago.
Bank clearings are rising slightly. Pros
pective recognition of Russia is expected
to produce some trade, but big business
men emphasize the uptrend Of comrnodi-
ties as the most hopeful sign on the
horizon.
weather conditions were not condu-
Give to much activity in such lines as
dry goods, mems and womens apparel,
shoes and hardware supplies" Dun &
Bradstreet report in their national
weekly survey Of trade, resulting in
volume falling below that Of the week
preceding in most sections.
While there appear to be more people
d
weeks ago many are working only part
time. making extensive purchases i'm
possible. There has been fairly good
demand for groceries ana provisions,
with prices well maintained at former
levels
Farm Buying Increases.
Although there has been decline in
the sales of both new and used auto
mobiles and accessories, the volume of
business continues well above that of a
year ago. The increased sales of farm
implements and automobiles in agri-
cultural districts are especially signifi-
cant. indicating the ability to buy
that a stable proportion of the farm
ers have managed their affairs we,
this year. Business of mail order house
continued in good volume.
Probably the overshadowing occ,I,
renee in the week in distributive cha
nels was the actual inaugural ton of
retail code on Monday which apD,
equal standards of trade honesty
1alr competition to all. With this
IN erect there came sudden cessat1
OF sales offering merchandise at dra
price reductions because stocks -
been accumulated prior to the risl
wholesale markets Of last July"
There were fewer buyers in Ic.-,
wholesale markets this week, which is
seasonal and does not indicate an
plling up OF retail inventories. Unf2.
Vorable weather conditions decreasc.
coat and suit demand This was trio
also OF woolen dresses and blouses. blt
orders for silk and rayon dresses. ton
coats and merchandise suitable for
Christmas widened- Drugs turned ir-
1eguiar. Que to foreign exchange duc-
slowly A'0'eu
WIoIesaIe' dry goods houses report q
decline in road sales. Print CLOTHS snS
sneetlng5 have receded in volume
though fannels and blankets are bet,
Ter pa.u wholesale confectioners report they
leaAzed a profit In October for the frst
time in two years.
tCopyriGht. Io33)