Evening Republican, Volume 23, Number 231, Rensselaer, Jasper County, 24 September 1920 — FRANKLIN COMPANY FOLLOWS AUTO KING’S LEAD [ARTICLE]

FRANKLIN COMPANY FOLLOWS AUTO KING’S LEAD

t'rom the automobile industry Thursday came the announcement that the H. H. Franklin Manufacturing company of Syracuse, N. Y., is reducing prices on its cars 17 to--21 per cent. President Franklin announces the reduction to a statement praising the action of the Ford Motor Company in cutting prices and agreeing with Henry Fora that such action is the only practical way of getting the industry- back to a normal basis* ’ There were also more rumors that a number of other motor car companies will make similar announcements soon. Mr. Franklin declared lower prices are necessary to stimulate busi-< ness - and prevent unemployment, which is on the increase. But he< stated that wages will not be reduced. Operating at capacity, the Franklin plant employs more than 5,000 persons, but within recent weeks 2)400 employes have been released. Wholesale reductions in other lines of industry are also announced in this morning’s city dailies. In Chicago Sears, Roebuck & Co., Montgomery, Ward & Co., and P ler Brothers have announced reductions, covering a big range of goods handled and run from Ift. to 40 per cent;. • A ± ■ There is also-a tendency toward reductions among the big steel corporations. -