The Portland daily press., 1897-07-03
A SLUMP IN WHEELS.
Reasons for the Fall in High-Grade Prices
Bicycles Now in Reach of All Condf-
tions of Men.

Excitement caused by the cornering OF
the wheat market is mild in comparison
with that created by the slump of 20 per
Pope Manufacturing company Whlle
some maintain that the cut comes too late
in the season to create serious disturb
ance, it is generally conceded that INC
day of the 500 bicycle is over, ana tilaC
prices will be cut still more. No manu-
facturer will have the temerity to ask Sl00
for his 1898 model.
The auction sales of the 1896 wheel,
which differed little from the 1897 model,
in large quantities is cited as the chler
cause of the slump. Many of these wheels
were sold for export, the bicycle manu-
facturers not expecting that they would
be put on sale in this country. If they
had known this they would have refused
to sell, for there has been general I'M
derstanding, if not an explicit agreement,
that the 500 price for high grade wheels
should be maintained.
The purchaser. however, did not keep
faith, and instead of exporting the wheels
auctioned them off at prices which ran as
low as s33 for machines that could not be
had for double or even triple that price at
the agencies of the manufacturers. The
result has been weak demand all season
for the Pope and other standard wheels
that have always been looked upon as
the best makes.
Following these auction sales came
caripS nf wv which yVhpP1S
sold at less uhan list prices The stock of
last year S wheels left over was much
greater than ever before, and as much
capital was tied up in them, they had to
be sold.
What makes the stand of the Pope
Manufacturing company of special import
is that the reduction of price affects all
compel competitors to meet the cut all
along the line. 1t is even predicted that
next year bicycles will be bought for
prices averaging about one half OF those
of the current season. The cut in the
price OF Columbia and Hartford bicycles
went into effect July 1. The 1897
Columbia will be reduced from 500 to
s75. The 1896 Columbias, which were
sold this season for $50, will be placed at
$50. The 1897 Hartford for both sexes,
which are listed at $50, and which were
reduced from SIS early in the season, will
sell for $50 Patterns Nos and Hart
ford, which were held at $50 at the begin
ming of the season, and later reduced to
$50, will be sold for $40 and $45 respective
". Patterns Nos. 5 and 8 Hartford, for
boys and girls will be reduced from $40
to $50.
It is probable that the Pope company
will put chainless wheel on the market
next season, and this is partial explana-
ton of the reduction in the price OF the
present styles of bicycles. This new
wheel will be held at the 500 mark. This
new machine has already passed the ex-
perimental stage and would have been
put upon the market this year but for de-
lay in securing patents on the improve
ments.
In summing up the situation in which
the bicycle trade will be placed by reason
of the move of the Pope company, one
who has been identified with the industry
since it first gained foothold in this
country said:
Time was when the Pope company,
the pioneer concern, practically controlled
the bicycle trade, and it was responsible
for many innovations. But as the max
ing of wheels became more extensive,
numerous new companies entered into
competition, including many with I'M
limited capital. The consequence was
that the Pope interests lost gradually a
IOrlnor monopoly.
tSeveral years back such move as has
been made by Pope would have resulted
in complete upheaval of the entire bust
ness, and though it is true that his action
will have more or less effect even now
there is strong probability that the
other big makers will succeed in main
tanning the 800 figure for the balance of
| this season. What will come another
| year is question that can be best an
| swered in December next.
"Coming at this time, the cut of the
| Pope company is certain to work consid-
cradle harm, but not to such an extent
as is predicted by the calamity bowlers.
| The smaller makers are certain to suffer
that is, those who really manufacture
| their own wheels-but the concerns which
| buy parts and simply assemble machines
| will not be embarrassed to any alarming
extent.
"Though thousands of cheap wheels
have been sold this year there has been a
| good demand for the best that the market
| afforded. Because of it's exclusive agency
| idea the Pope company has suffered more
than many others by the sale of the cheap
er makes, as it has lost many good agents
who declined to tie themselves up to one
make and thus be debarred from meeting
the popular demand for the lesser priced
goods. To this fact may be traced one
cause for the reduction by the Pope COM
pany.'
Real Estate Tr.-nsfers.