On the other hand, it is clear that the richer sections! of the community will henceforward be denied the opportunity to spend substantial portions of their income on such pastimes as motoring, foreign travel and, to some extent entertainment, This might release some purchasing power to the retailer, Even so it is difficult to take a wholly favourable view of the prospects of retailers in the department store category who have built up their position on liberal services—now no longer permitted or required—and on their large buying power—which, under conditions of price control, holds few advantages, The nearer they are to the luxury end of the trade, the greater the force of these tendencies.
Purve; rs of Necessities At the other end of the scale, purveyors of necessities—the butcher, baker, grocer—are likely to feel the impact of war-time conditions much less severely, In some areas, indeed—for example, in country districts whose population has been multiplied overnight, or in areas with a rapidly growing arms industry—they will increase their turnover and will doubtless quickly outlook even for these branches of retailing in the cities is less favourable, and there is likely to be a good deal' of elimination of redundant that the food chains will hold their own, even if quite a number of hitherto profitable branches cease, for the time being, to pay. The "fixed-price" chains must suffer in much the same way as the central department stores, though to a less degree, Like the department stores, they depend upon the habit of' "shopping around" in central areas for the bulk of their custom, Unlike the department stores, however, their risks (including air-raid damage to property, the incidence of population and purchasing power changes) are much more widely spread. In addition, they are more adaptable to eny change in conditions, By and large, however, this seems hardly the time t5 tal an unduly roseate view of prospects in many branches of retailing, Issue of Armanient'
Bonds In France Paris, Oct. 31.
Important financial decrees published here today provide for suspension of the issue of 18-month National Defence Bonds.
Authorization is given for the issue of six-month and one-year "armament bonds" at two-and-a-half per cent. and three per cent. interest respectively.
Another decree deals with the declaration of funds abroad.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.