The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1919-04-30
I Prices During the War
The Course of Commodity Prices
During the Present Period
Of Readjustment

:
The United States Department OF
+; Labor, through the Information and
/ Education Service. is issuing the re-
suits of a study Of prices during, The
/. war and readjustmcnt period made by
the Division OF Public Works and
construction Development. Discuss
/; :.lg the course Of commodity prices
! during the present period Of read
justment. the report says:
"a study was made early in April
of the course of commodity prices
during the present period o) read
| iustment. the study being based Oh
the quotations Of wholesale prices OF
313 commodities which are publish
| ed weekly in Dun's Review. Dan
index number stood at its highest ley
el on October /. Since this number IS
| based on prices for the previous
month, it is thus in agreement with
the Bureau Of Labor Statistics figure
which shows the high level for the
month Of September. From October
to the present time the price lev
ell has been declining. AT first the
weekly quotations showed more ad-
vances than declines, although the
price level fell by a small amount.
From November 80 until March 22
there were each week more declines
than advances. February l showed
So declines and 9 advances, this be-
ing the smallest number of advances
noted during that period and at the
same time the largest number Of de-
clines The month Of January show
ed the greatest decline in the price lev
el of any month, about IL per cent.
The excess in number of commodities
showing declines over the colnnodi-
ties showing advances has steadily
decreased since February 1. until on
March 22 the report shows IS ad-
vances and 26 declines. March %
figures show 90 advances and 54 de-
clines. OF these 54 commodities show
ing declines 81 were on steel pro-
ducts, the declines announced being
the result of action Of the steel COM
nnittee in conference with the Indus
trial Board Of the Department Of
Commerce. Previous declines in steel
at the beginning of the year had not
brought the prices Of these products
low enough TO stimulate business, as
they were still considerably above the
general price level of other comnodi-
ties The April number of Dun's
Review shows 81 advances against 20
declines. Thus, it is seen that through
the period from October l. 1918, to
the present time, commodity prices
have been going through an orderly
process of readjuStment. Although
there have been many declining prices,
at the same time there have been
others advancing. On March 1, Dun's
index figure showed a decline Of So
per cent from the high point Of Oc-
tober /.
During the month of March, in
spite Of the considerable declines in
steel. there were sufficient advances
in other commodities, mainly food
stuffs, to cause q slight advance, in
the price level. The index for April l,
shows the price Level only ST. per cent
below the high point of October 1.
The London Economists index
figures show that from September l..
1918 (the highest level reached), to
March j, 1919, the price level fell
7.5 per cent.
@'Of 313 commodities quoted in
Dun's Review Of March 8, 1919, 140
were quoted at prices lower than they
were year previous, and 125 were
quoted higher than they were the
year previous. The index figures in
dicated q, reduction in the price level
from March 1. 1918, to March /. 1919,
Of 4.8 per cent. The commodities
which were quoted at prices lower
than last years prices consisted OF
certain foodstuffs, drugs and chemi-
Gals, wool, woolen and cotton textiles,
metals and oils. With the exception Of
steel products. no building materials
we're quoted at prices lower thai, last
years prices. Of the commodities
which were higher in price than they
were at the same time last year. the
principal ones were certain foodstuffs.
lumber and other building materials,
drugs and chemicals. hides. naval
stores, oils, paint and tobacco.
An examination Of the price rec
ords of the Bureau OF LABOR stats
tics shows only two commodities in
the list of over 200 that were lower in
price in 1913 than they were in 1913.
These two commodities are onion and
coffee tRio No. y. Both of these
commodities have increased to prices
since the armistice and are now quot
ed about SO per cent above the pre-
war price.
..Of the commodities that have been
included in the study Of the price
level. the most marked declines since
the armistice have occurred in the case
Of lake copper and pig lead. IN No
vembcr. Copper was 69 per cent
above the pce-war price. Since that
time. it has dropped down to the pre-
war level. Pig lead in November was
| 70 per cent above the pre-war price.
| and ot the present time it is only IL