Evening star., 1934-12-23
CIearings, Freight Load
ings, Steel Rate Also Up
as Retail Sales Soar.
HOLIDAY FOOD RUSH
HEAVY AND VARIED
Wholesale Markets Surprised
Florida Cold Spurs Trade
in Canned Goods.
BY JOHN A. CRONE.

bf JOHN A. ChONE.
Special Dispatch to The Star.
NEW YORK, December 22.-The
huge volume of Christmas buying
estimated at 20 per cent above that
of a year ago for the Nation, could
not dim the brightness Of other in
dices in the business picture this
week.
While shoppers kept many stores
busy placing last-minute recorders,
thereby retarding operations on next
seasons merchandise, executives dis
cussed purchases Of raw materials or
plant modernization for next year
Meanwhile, steel operations rose to
;he highest level since December, 1880.
Electric power output, thanks to in
creased use m industrial regions,
climbed to the highest levels in four
years.
CIearings Rise Sharply.
Bank clearings, rejecting the quick
ened movement of trade, reached
their highest levels for any week in
nearly three years. Failures were
fewer and there are indications total
defaults this year will be the lowest
in five years or more. Car loadings,
as result of increases in coal and
miscellaneous freight, registered a
contraseasonal gain.
Reactions to the reports and pro-
posals made by the business recover
conference at White Sulphur Spring
generally were favorable. Foreign
trade circles were pleased to learn
that our foreign trade department
would be expanded as soon as bust
ness improved, but some commen-
tators pointed out that statesmen
usually precede rise in business and
order takers merely follow it. In the
past consuls have been regarded as
statesmen for American goods and
services.
Volume Of toy recorders received
here within the last few days, espe-
cially from the Middle West, South
and Southwest, was the largest in
five years. The holiday notion bust
ness attained the best levels since
1880, with calls for sewing accessories.
44OFC4IJ x4b0O4Ao a44a A6A4@-AC4 NAA4CA1
particularly persistent.
Wholesalers Surprised
The usual last-minute rush for holi-
day foods in the wholesale market sur
prised many by its extent and variety.
Freezing weather sweeping over Flor
ida checked the movement Of fruit
and vegetables and, for a time al
least, strengthened the canned goods
market. Gamers report chain stores
ordering out 1885 contracts next week.
Customs warehouses here were
jammed with late inflow of goods
from abroad. Perfume, jewelry and
glove imports we're reported at the
swiftest rate since 1929. japanese
toys entered in volume. Liquor i'm
ports were small, as the holiday trade
had been anticipated weeks ago. Lo-
cally liquor sales have been rather
disappointing.
Hardware handlers reported an un-
seasonal movement of furnace acces-
sories, ranges, stoves, heaters and cot
ton gloves. Glass items, such as
stemware and tableware, have slack
ened after a brisk buying movement
that lasted until the second week OF
this month. Although there is q siz-
able demand for small pieces Of furni-
ture, chiefly Of the occasional type,
standard sets are much quieter than
a year ago. This season normally Is
dull for furniture.
The unusually large demand fo,
mems robes caught the manufacturer
here unprepared, with the result that
some stores offered premiums o.
highly desirable lines. Generally TIL
better quality of mems furnishing
felt the influence of seasonal buying.
Russian Buyers Arrive.
Manufacturers who might be ex-
pected to benefit from moderniZation
of domestic plants were not too busy
during the week to pay attention to
the visit of group from Soviet Russia
who are here to buy machine tools.
Orders placed by this group naturally
would call for iron, but the foundries
are not much interested in this phase
of the order, pointing out that prob
ably foreign pig iron would be used IN
such machines
Wholesalers report that the excel
lent retail business done at this season
has had an important influence on
increasing the purchases of items that
do not participate in the holiday trade.
Sheets, for example, are being ordered
literally for the usual annual white
sales. Many of the Spring bedspread
lines are ready. Demand for case
goods in the wholesale furniture mar
kets is brisk, much of it being for the
usual January promotions.
(Copyright. 1934.)