Evening star., 1934-02-09
TRADE CONTINUES
IMPROVED TREND
Severe Cold, Slower Relief
and Rising Prices
Are Cited.
BY JOHN A. CRONE.

Special Dispatch to The Star.
NEW YORK, February s.-The
volume Of retail and wholesale trade
continues to improve despite severe
weather, the let-up in relief work in
many sections and rising prices.
Higher prices, however, have not
caused unusual retail buying. though
they have been a force in the whole
sale markets.
Meanwhile, industrial operations
move forward. Steel operations are
at the highest level since last October
Bituminous coal output Is expand
ing, though oil production is declin-
ing. Electric current production is at
the best level since last September.
Car loadings are up Lumber opera
tions continue at high rate. as sales
are exceeding current supply.
This upsWlng in various industries
has helped to absorb some of the
persons dropped from relief rolls The
way the public is covering only actual
needs has encouraged stores to con-
tinue wholesale purchases on brisk
scale. Buyers in this market attained
a new peak for the Spring season in
the last few days.
Failures Still Lower.
Business failures show a further de-
crease, the trend being registered in
most fields. with the largest decline
in manufacturing. Money rates con-
tinue easy. though bankers show little
immediate disposition to loosen up on
commercial loans. Many banks have
taken advantage of the market rise to
get rid of security holdings or Sc
culity collateralled loans, so that they
have still more idle cash
The upturn in commodities has been
sustained. Cotton and sugar were the
leaders in this movement, the former
reaching the highest levels in 312
years. Sugar has been helped by the
Governments classification of it as
basic commodity.
Political disturbances abroad, as In
France, have had more effect on our
commodity and security markets than
on business Exporters, however, de-
Clare that France is promising mar
ket at present.
February sales to date range from
20 to 60 per cent above those in the
same period year ago This is not
surprising when one recalls that near
ly half the banks in this country were
closed i'll February, 1888. Chain and
mail order stores report volume up SO
per cent in many instances, This
showing has surprised retailers be-
cause OF the success of January sales.
Carry-Over Reduced.
THE extent Of the unexpected de-
mand for heavy wearing apparel" ac-
cording to the national weekly survey
Of business by Dun & Bradstreet, Inc.
And for sports outfits, Winter hard
ware, automobile accessories and some
special electrical appliances will re-
duce the carry-over of these items to
negligible proportions for the first time
in several seasons. Furniture. draperies.
rugs, hosiery, yard goods and mems
overcoats contributed heavily to the
larger sales totals recorded
With the January clearances OF
white goods, linens and clothing now
out OF the way. interest is being CEN
tered in the promotions Offering furni-
ture. housewares and yard goods. par
ticularly silk. at prices somewhat be-
low those obtaining in December.
MarkdoWns, however, are small by a
wide percentage than they were in
February, 1898, and fewer items are
included in the special offerings"
Wholesale markets are booming.
Dollar devaluation has caused many
for the first time in four
years to look at their stocks. This is
natural in view of the mounting costs
of labor and materials.
The large national and territorial
wholesalers of dry goods report more
active distribution than at any time
IN three years at this period of the
season." Dun & Bradstreet
state. The demand for wash fabrics
has been better than for three years
or more and rayon fabrics have been
having large and active sale.
THE Spring floor covering markets
have opened, with prices showing little
change. The volume of business al
ready placed has run ahead Of all
trade predictions. and announcement
already has been made by some OF the
large mills that current prices will
not be continued beyond March / al
the latest"
Copyright, 1o340