Indianapolis Times, Volume 43, Number 14, Indianapolis, Marion County, 27 May 1931 — Page 3

MAY 27, 1931.

RETAILERS' IRE IS AROUSED BY PRIGE CHARGES Cost to Consumer Cut to Limit, Reply Made to Manufacturers. Demands of the National Association of Manufacturers that retailers reduce prevailing prices were met in Indianapolis with indignation by several of the city’s largest retailers today. Publication of a story in which the national association declared a return to business prosperity was possible in the near future only by increasing public buying power through retail price reductions drew not only adverse comments of retailers, but of Charles O. Grafton, president of the Indiana Manufacturers' Association. Leading retailers of clothing, food, furniture and household equipment were unanimous in declarations that prices could be cut no more than they have been since January, 1930, and asserted they had been sliced more than the national manufacturer's group admitted. Merchants Defend Prices Following are comments of several prominent local merchants interviewed by The Times: A. W. METZGER (Kroger groceries)—l examined prices of 150 everyday items and find our prices have decreased 23 to 25 per cent since January, 1930. Here’s one thing the manufacturers overlooked. More than 50 per cent of our merchandise is sold on v/eek-ends when there is an additional reduction of about 10 per cent, making an actual reduction of 30 per cent since a year ago. HARRY ISRAEL, (Sommers Furniture Company)—There is no question of our reduction as far as possible on present w-holesale prices. In fact, we even anticipated some decreases by reducing prices before the decrease came. I don’t see how there could be greater cuts than have been made. Declare Cost Is Dow r n SAUL SOLOMON (Victor Furniture Company)—We have reduced our prices in comparison with what we pay for merchandise now. I’ve talked to a number of retailers in town, and they all have done this. S. A. SULLIVAN (L. S. Ayres & C.)—Let me make one point. Take a man’s suit, for example. The cost is less than 50 per cent in textiles, and the rest in labor. A cut of 15 per cent in textiles doesn’t mean a 30 per cent reduction in the suit cost. The President asked that we do not cut wages, and needlewqrkcrs’ wages were not reduced. The figures of the National Association of Manufacturers are interesting, if true, but they will not bear analysis. The story is a smoke screen rather than an actual showing of facts. LEO TRAUGOTT (Fair Store)— Their assertions are false, absolutely, because wearing apparel is sold now more than 30 per cent lower than two years ago. I should say 35 to 40 per cent. Retailers have cut their prices much more than the story says they have. Story Called Unfair SAM GOLDSTEIN (Goldstein Brothers, department store)—There is nothing to these charges. The latest reports on net profit percentage of retailers would refute statements of the manufacturers that retainers can reduce prices still further. The story was decidedly unfair to all retailers. GEORGE E. FRANK (The Kirk Company)—The manufacturers are absolutely wrong. Our articles now are down from one-fourth to onehalf below what they were a year ago. We couldn’t cut our prices any more. CHARLES O. GRAFTON (Muncie, president of the Indiana Manufacturers’ Association) We know that the manufacturers naturally have been feeling effects of the present depression in forcible manner and that they are staggering under the load, trying to keep their plants running. Retail prices and the cost of living have been cut greatly in the last fifteen months and the retailer, especially, is working on the lowest of profit margins. We feel that all lines of industry have, to the best of their ability, and should, co-operate in every way to make the best of the present condition and that no individual group should or can be blamed for present conditions.

Spend DECORATION DAY in the East Si 6 sl6 Ba * timore j g Philadelphia sl7 At,antic ity Sl7 New Yorte AND RETURN Leave on trains of Friday, May 29th. Returning, leave destination prior to midnight Monday, June 1. Tickets good In coaches. Tickets at 114 Monument Circle, Fhone LI ncoln 6404, or Cnion Station, Fhone RI ley 3355. BALTIMORE & OHIO

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120 Miles an Hour 'Safe, ’ Opine Veteran Drivers

‘No Different Than 20 Per on City Streets,’ Say De Paola, Arnold. Clicking over the Speedway bricks at 120 miles an hour is safer than driving at high speed through traffic or on highways. This was attested by three of the world’s most prominent race drivers when they were interviewed at the Rotary Club luncheon at the Claypool by T. E. (Pop) Myers, general manager of the Indianapolis Motor Speedway. Billy Arnold, 1930 winner; Harry Hartz, three times second place winner and Peter De Paola, 1925 winner with the race record of 101.13 to his credit, were the speakers. “One hundred and twenty miles an hour on the track is not any different than twenty miles on the street,” Arnold declared. De Paolo said that after experience in driving at high speeds, a pilot realizes the momentum gained by his car and becomes a careful driver. Hartz outlined the three types of drivers that every year make their appearances in the nation’s speed events. He classed them as the consistent driver who drives steadily and wins sometimes; the spectacu-

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■■ ■■■■■ •:<**.• r .

Pete De Paolo

lar pilot who lives on headlines and grand stand play and generally bums up his car early in a race, and the money driver w'ho is unpopular because all he wants is the lap prizes and side money and “wins most of his races in hotel lobbies.”

THE INDIANAPOLIS TIMES

BRIAND DECIDES TO CONTINUE AS FOREIGN CHIEF Serious Difficulties for French Cabinet Believed to Be Averted. By United Press PARIS, May 27.—Difficulties in the administration headed by Premier Pierre Laval were believed averted today with Aristide Briand’s decision to remain as foreign minister. Briand, defeated by Senator Paul Doumer in the presidential elections earlier this month, had tendered his resignation as a member of the cabinet. He felt his prestige abroad had been impaired. However, Premier Laval was understood to have persuaded the “apostle of peace” to reconsider. The foreign minister’s decision to continue in the cabinet was regarded as a stabilizing influence on the eve of the reconvening of parliament Thursday. An unusually bitter session is indicated. Fire Kills 200 Chicks NOBLESVILLE, Ind., May 27. A brooder house on the farm of Mrs. Sadie Cranfield was destroyed by fire and 200 chicks perished.

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