The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1918-07-14
PROFITEERING MAY
MAKE MEMS SUITS
COST $50 MINIMUM

With the price OF mems suits of in
runaway gallop toward a minimum
OF $50 by the coming winter, the
wooiens section OF the War Indus
tries Board has its feet braced
against the dashboard and is yelling
whoa" at the top OF it's lungs.
I'm hopeful that we have the sit
uation in hand again." said II. E.
Peabody. section chairman. prof
teering is the only cause for the
furry. There is a plentiful supply Of
woolens in the country. though pos
sibiy a scarcity in certain seasonabIe
fabrics.
outsiders have jumped into the
market and are specializing in cloths.
II we can eliminate them and keep
business in its normal course there
should be little increase in price to
tbs consumer"
Moral SuasIon Only.
The wooIens section has the full
force of the War. Industries Board be-
hind it, but there is no provision for
criminal action against the profiteers
and the only force that it can use is
moral suasioR and public opinion.
The woolens field offered a profit
able field to the Spectator, and from
information at hand in the offices of
the War Industries Board, John, the
barber; Bill. the plumber, and Jack,
the Wall street broker. all jumped in.
Where there would be enough cloth
under its normal movement from
manufacturer. these piece goods
brokers insinuated themselves as
ment manufacturer who had a. car
load shipment coming from the mills
and offered him a fancy profit to
turn the shipment over to them.
They bought up contracts of manu-
facturers with the mills at steep ad-
vances. And they're now sitting
back with the goods in storage wait
ing for the pinch in the supply that's
sure to come IL their purchases are
held out of the market long enough.
WIN Ruin Business.
The woolens section is pointing cut
to the manufacturers that these i'm
mediate profits the piece brokers Of
fer will ruin their business II accept
ed. If they are unable to protect their
regular customers with deliveries,
these customers will be lost to them.
THE profiteering has developed in
the recent few MONTHS says Pea
body. 81 believe we've stopped IL. We
shall do everything possible TO keep
the price of woolens and of clothes
down to a reasonable basis. 1t would
be a public calamity TO have the mini
mum price on mems suits at $50, new
ertheless that's where the prices
would go II these INSCRIPTIONS brok-
ers had their way.
THE mills have had nothing to do
with this gambling. They have made
their contracts for wool long ahead,
advantage of their lower contract
prices. For instance, they bought
wool. yarns on the basis of $L25 a
pound. They were selling on this
basis when yarn was selling in the
market at S1.T5- "a
Action Is Treason.
"The action of these profiteers at
this time amounts to treason, and they
must be made to understand it We
have the cooperation in this cam
paign Of the War Service Board of the
woolens industry.
"'The woolens section hopes to shut
off any further supplies from these
gamblers. 1t is not impossible it
might even be able to leave them high
and dry with the goods they have
purchased at high prices on their
hands, by influencing the trade to buy
no supplies except through regular
channels.
"The minimum price of suits will
not go to $50 this winter" says Pea
body. -. +--.r