Evening star., 1934-01-05
BUSINESS CHEERED
BY: RETAIL ACTIVITY
Wholesale Buying Expands.
LuII Less Than Normal
in Industry.
BY JOHN A. CRONE.
,pecial Dlspatch to The Star.

SpeClaI lllSpalCl 10 / IF St"I
NEW YORK, January 5.-Continued
retail trade activity. further expansion
in wholesale purchases and a less than
normal recession in industrial indiceS
made the business world cheerful this
week despite Developments at Wash
ington.
Executives were somewhat concerned
that no definite steps have been taken
toward monetary stability On the
other hand. sentiment was mixed con-
cerning the continuance of the N. R A.
and the vast increase in expenditures
as forecast in the Federal budget. Ad-
ditional money is to be obtained more
by borrowing than by increased taxes.
The fact that many new taxes would
not at once be imposed was hailed by
industrialists.
Lacking the stimulus of subZero tenn
peratures and of the many special
clearance sales usually held al this
time Of the year, retail trade neVerthe-
less broadened Lightened inventories
and increased profits cheered retailers.
BUYERS Increase.
Coincident with the rise Of wholesale
trade there was an influx of Out-ots
town buyers into leading markets OF
the country. Present indications are
that Spring buying, at least for initial
lines. will reach its peak by mld-Jan-
uarv which is several weeks ahead OF
the buving peak of 1888 Increased
bl1ving confidence. brisk December sales
resulting in small stocks and the earH-
ness of Easter are advanced as reasons
for this early buying movement:
Manufacturing and retail failures
during the last week Of the year de-
creased. Bank clearings receded. Com
modify prices continued upward, though
individual gains in most cases were
narrow. FoodstuffS reversed their down.
ward trend of the preceding week.
"While clearing sales now are the or
der of the day in the retail field, ac-
cording to the national weekly business
survey by Dun & Bradstreet, me-
"these so-called cloSe-outS and bargain
sales are few in number and actual
markdowns in prices are being held TO
smaller percentage than last year Iaole
linens. sheets, pillow cases, underwear
and house furnishings have predoml-
mated in the articles enjoying the most
ready movement during the January
sales thus far held.
Demand Continues.
Demand has continued almost at last
weeks enlarged volume for heavy wear
ing apparel, overshoes, seasonal auto
motive accessories and hardware, with
electrical supplies, particularly house
hold appliances, moving well ft for this TINS
season. Rayon, woolen and Knit goods
of nearly all types continue to attract
the attention of the shoppers, while
articles suitable for Winter sportswear
have maintained the high level in evi-
dence during the Christmas buying
period.
Most of the stores have revised their
early buying budgets upward, in some
cases as much as IS to 20 per cent
above the figures of a year ago, while
orders are being placed with much of
the freedom which characterized market
operations back in 1929.
Many of the Spring models of wor1-
ems ready-to- wear garments were given
their initial showing this week, and the
orders for these we're of generous pro-
y. Th"ve has been marked