Evening star., 1934-01-12
RETAIL SALES SOAR
FURTHER IN WEEK
Gains of Some Rural Areas
Declared Little Short
of Phenomenal.
BY JOHN A. CRONE.
Special Dispatch to The Star.


NEW YORK, January 12.-Broadened
retail sales. the largest influx of buy
ers in the wholesale markets here in
four years, increasing industrial pro-
duction, and generally bullish senti-
ment toward commodities and shares
this week more than Offset the rise in
commercial failures, the decline in bank
clearingS and the uneaSineSS occaSioned
by impending large Government ex-
penditures.
When many companies, both large
and small completed inventory taking
and computed their net earnings, they
were surprised at the excellent results.
Their attitude was reflected in in
creased dividend payments and en-
larged purchases OF raw and finished
materials
Wholesale buying, thanks to a COM
bination of light inventories and an
early Easter, increased 35 per cent in
this market during the week. Mean
while, the plan Of the Government to
spend large sums Of money for emer-
gency. purposes put the public in a
spending mood, which was felt at the
automobile show here, in jewelry stores
and by merchandisers of furniture, rugs
and furs.
Some Goods Scarce.
This switch from the necessity buy
ing OF a few weeks ago to luxury and
semi-luxury buying measurably helped
the wholesale markets, where the dis
position is to prepare for a brisk first
quarter trade. Although some lines of
employment continue downward, 9TH
ers are moving ahead speedily. In parts
Of Nebraska, the hardware trade here
reported. it is impossible to buy a
shovel, pick or ak, as the Government
programs get under way.
Electric power output was up for the
thirty-sixth successive week. the gain
of 81 per cent being the highest
recorded since September 80. Freight
loadings not only were above those of
a year ago, but shippers bureaus pre-
dicted a gain in the first quarter over
the same three months of 1898. Al
though steel operations were trifie
lower, the business furnished by the
automotive industry and that promised
by the construction trade forecast a
stepping up of production within the
next six weeks.
mo post-holiday season since 1929
has been marked by such a steady
week-to-week increase in retail sales, !"
according to the national weekly survey
of business by Dun g. Bradstreet, Inc,
with the current volume running
above that for the comparative period
of last year. Offerings of January
promotions have been less complete in
their assortments, as the carryovers and
distressed goods practically were cleared
during the first week of the month.
Large Gains Reported.
"In country districts the gains In
distribution in q0rra ereas have
been little short Of phenomenal,
as farmers continue to receive large
sums from the Government. Sales
Of piece goods have been partic-
ularly outstanding during the last few
weeks as nothing seemed to daunt the
tireless needles OF home dressmakers.
Sales Of furniture. house furnishings
and electrical appliances have made
pronounced gains In some sections,
while chain stores and mail order
houses continue to report rising sales
and larger profits"
In the wholesale markets wearing ap-
parel purchases were fully IS per cent
above q year ago. Improvement re-
ported by furniture. house furnishing,
hardware and drug jobbers was almost
as good. Grocers report only q small
advance in volume. but collections are
much better.
With the opening Of the various
business shows and the convention Of
the National Retail Dry Goods Associa-
ton here next week. the wholesale mar
kets look for continued activity. Buy
ing budgets are fully 20 per cent larger
than those Of 1888. In some cases buy
ing Is almost as free as In 1929.
tcopyrisht 1e341