Evening star., 1950-10-26
Nations Retail Sales Decline
Sharply Under Credit Controls


was price cutting in New York on
some home appliances. Kansas
City automobile statesmen were
actually out working at selling
and the boom in buying of home
building lots abated.
This is the situation reported
from around the country:
Washington - Merchants agree
that controls dampen buying en-
thuSiasm. Automobile dealers say
they are hardest hit with sales
estimated off Is to so per cent.
A department store executive said
controls have hit hard in tele-
vision. refrigerators, washing ma
chimes and stoves. but total de-
partment store sales have held up
we'll. Appliance stores report
their sales down considerably,
with one estimating a 80 per cent
fall. They have found higher
down payments "a little too
tough" for the average buyer.
Atlanta THE Government
was anxious to slow down sales
and the regulation has done Just
that" said L. c. Long, merchan-
dising manager Of Rich's Depart
ment Store. He said although
electrical appliance and furniture
sales are definitely affected. it's
too early to talk in percentages.
New car sales down about 80 per
cent; used cars at a standstill
with prices off around $3.50.
Kansas City Reports Slump.
Kansas City-Sales off as much
as 35 per cent in automobiles be-
cause of credit curbs and buyers
holding off for new models. There
is no order backlog on dealer
books and popular makes are
available. Television sales are off
as much as 40 per cent after a
deluge of heavy buying in Sep
tember when telecasting started
in this area. Furniture and elec-
trical appliances are the least
affected, with one big store esti-
mating a 10 per cent decline, but
inventories are building up.
Detroit-One big manufacturer
and retailer of television sets re-
ported an appreciable increase in
sales attributed to early Christmas
buying to beat the November
Federal excise tax. A large chain
store mail-order house said con-
trolls were just beginning to hit
television, refrigerator and furni-
ture departments, causing some
worry. Paul T. Graves, executive
vice president of the Detroit Auto
mobile Dealers Association says
new-car sales in Wayne County
are. off SOS per cent and used cars
59.9 per cent in the first seven
days under the new controls as
compared with the "a days just
before the curbs.
New York-There's sort of a.
sales hangover in the New York
area. Retailers put on one of the
biggest promotions in their his
tory for Columbus Day just before
credit curbs were frightened. In
stallment store sales last week
Jagged II per cent behind le4e,
whereas previous weeks had been
running only 2 to q per cent be-
hind. Electrical appliances and
teleyision sales dropped "a per
cent and furniture 6 per cent.
Car Sales OFF.
Dallas-With new-car sales al
ready off rs to 40 per cent, dealers
look for a drop of 40 to so per
cent under new credit regulations,
and "used-car sales will be cut
even more drastically." Retail
merchants estimate their sales are
down II to IA per cent to "a nor
NAL rate" after abormal July and
August war-scare peaks.
San Francisco - Automobile
dealers say credit restrictions have
had a terrifically unfavorable i'm
pact on business. going all the
way from 80 to a 100 per cent
loss. Furniture credit men say
their business had been dull for
two weeks. They point out that
down payments on furniture are
less than on automobiles, and they
expect pickup in November and
December. They expect lower
sales on new furniture because
of housing curbs. Electrical ap-
pliance people see little change.
There have been high down pay
ments on television sets all along
and buyers now are trying to beat
the new excise tax November l.