Norwich bulletin., 1919-06-19
ARE BARGAIN DAYS DUE
 IN WET GOODS BUSINESS?

. With bargain days in liquor report ed as having arrived in other cities of New England and the east, Norwich people who plan to actively en- gage in John Barlecorn's apparent ly near wake or to put the finishing touches on their dry season supply are speculating as to when the drop in prices will come locally, should such decision be arrived at by local dealers. Thus far comparatively few window displays of bargains have been noted about the city.
 The following review of conditions noted in Boston. said to be much sim liar to those in other New England cities. may prove of interest.
 Bargain days in liquor have ar rived. With only two weeks left for business, barring a possible lifting of the war time liquor ban, local dealers are suddenly facing the future with tremendous stocks of liquor and in many cases have knocked down the retail price to the public.
 The calm assurance of presidential action to stall off war time prohibi- ton set for July l which has reigned for some time among liquor men ap pears to be shaken. At the same time if the ban is not lifted huge financial losses await the dealers according to statements made yesterday.
 The results of this crisis in the liquor trade are most noticeable on Canal street, where six show windows, plastered with bargain signs in whis- key, rum and gin, stare at the passer- by on his way to the North station The price reductions run from 10 per cent up. Whiskey which formerly sold at s2.75 a quart is in some cases re- duced to $2.50; one brand sold at s2.50 is now marked at $2.15. Another firm now quotes at s1.90 gin which formerly sold at s2.25 a quart, and at S2.50 bottled cocktails, previously marked at s2.75. Similar reductions prevail in certain stores for rum, port and other liquors.
 Other houses encourage large pur- chases by offering a 10 per cent. or s1 reduction on each gallon lot Another warns that it is better to have it and not need it than to need it and not have it."
 The situation is complicated by the fact that many dealers have quanti- ties of alcoholic beverages in bond. The taxes of these are not paid until it is withdrawn. The existing fed eral tax amounts to s6.40 plus 30 cents for rectification in some cases. Every gallon withdrawn will involve this tax figure. Therefore dealers must keep in bond all which the public will not buy in order not to incur the additional loss of tax pay ments.
 "The latest figures indicate that there are 100000 barrels, or about 60-000,000 gallons of liquor in bond,'' said Peter F. .McKenna of the Ter minal Wine Co. This represents roughly s60,0o0.000 value. Whats going to happen to the investment which that represents to the small dealer if it remains in bond after July n?
 We feel that it is only fair that we be allowed the balance of the year up to . the constitutional amend ment prohibition, Jan, 1. 1920, to dispose of the liquor in which so much money is invested. About October 1917 distillation was stopped. Dealers bought the liquor in bond from the distillers when prices were advancing believing they would have a full year of trade, as provided in the constitu- tion, after any amendment should be ratified. But with wartime prohibition going into effect July 1 that year cut down the time
 James H. Quinn of the Charles 5. Cove Co.,, pointed out that if the 50 100000 gallons are not withdrawn from bond, the government will lose $6.40 in taxes. or close to $40, ,000. 900 An amount not far from this figure will be lost by the owners, it is esti- mated.
 That represents money invested which we can't see our way clear tc recovering" said he. There are cer- -in dealers who have been doine business on bank loans covered by bond liquor as security and they will be wiped out if they stand a totaI loss on the goods" t
 Price reductions and the approach or the dry period are increasing the purchases of liquor by the public according to the dealers. Not since the rush which preceded the adition- al $32O per gallon tax went into ef- feet February 24 has so much sell | ing activity been noted in the trade