Evening Republican, Volume 23, Number 121, Rensselaer, Jasper County, 19 May 1920 — PRICE CUTTING WAVE IS ON [ARTICLE]

PRICE CUTTING WAVE IS ON

TIGHT MONEY AND INADEQUATE TRANSPORTATION r.IVRN AS CAUSES. — / ■ 1 ~ '•' it —— “T V : ' ' ' r r » A wave of price cutting in retail clothing costs, reaching from the Mississippi valley to the '“Pacific coast, was reported today. Dispatches from twenty-four cities in that, territory told of promised reductions in these necessities ranging from 15 per cent to, minus profit. ... , ' .« Financial authorities here said that the indications wepe that the price decline would be limited to ready to wear clothing, principally woman’s garments and silks. Shoes were in the list affected. Tight . money and inadequate transportation facilities were cited among the prime reasons for the mercantile movement. Delays in

delivery of goods in which much money had been tied up, together with inability of farmers to get grain and live stock to market were said in many instances to have worked a hardship on merchants. An officer of one of the leading department stores of Chicago declared that the price reduction now being reported meant also that merchants were trying to satisfy what he called “a hysterical demand from the public for lower prices.” These current reductions, he said, might be only temporary. A financial authority here said that if reports of price cutting were dependable they indicated a tendency toward a reduction in inventories. Though they might be temporary, he said, it was undoubtedly good, in that they suggested that merchants were going ahead more cautiously. Sales are being held under various names. In Topeka, Kas., a men’s clothing firm announced a “no profit sale,” declaring that it would hack its promise at the end of the sale by letting the fair price commissioner or a committee named by him take possession of its books and accounts. Department stores in St. Louis advertised “under-selling campaigns.” • Twenty per cent cuts were the most popular. On the Pacific coast, Tacoma dealers announced cuts from 20 per cent flat to “profitless sales,” declaring that on some. women’s garments prices were cut virtually in half. Three Seattle retailers cut clothing 20 per cent. In San Francisco one retailer has announced 20 per cent in all lines, another 16 to 26 in certain commodities. At Everitt, Wash., two men stores announced 20 per cent clothing cuts. In Nebraska three large Omaha stores several days ago announced a flat reduction of 20 per cent and other Omaha stores have followed. Several Omaha stores, said their silk cuts were 60 per ceiit. In. York, Neb., a 20 per cent cut in ladies silk and woolen garments was made. In Wichita, Kans., silk shirts have been reduced. Coffeyville, Kans., reported many cut price sales. !In Minneapolis a large department store has announced a general cut of 20 per cent. At Knoxville, Tenn., one of the city’s largest department stores today made a general discount of 20 per cent on

its entire stock, except a few contract articles. Shoe redactions also were announced. At Oklahoma City sales offers of 20 to 30 per cent reductions were reported. At Ardmore one retailer announced a 20 per cent redaction. One men’s store at Muskogee cat everything 10 to 20 per cent and other houses advertised sales of spring and summer apparel with re- ' ductions of 20 per cent. At San Antonio, Tex., two department stores announced sales with reductions of 20 per cent; another a 26 per cent reduction sale At Waco another department store announced it had knocked off its prices. An El Paso store cot shoes and clothing. At Fort Smith, Ark., special sales said reduction was 20 per cent. At . Pine Bluff one men’s store and one women’s store are making the same cut. Slight reductions in shoes and wearing apparel were noted at " Texarkana and at Little Bock retailers last week made cuts from a fifth to a quarter. At Springfield, Mo., merchants have announced the same reduction. Atchison, Kans., announced 20 per cent redactions.