The Appeal. [volume] (Saint Paul, Minn. ;) 1889-19??, 1920-06-26
HIT PRICE PEAK,
DEALERS Think
Refusal of Public to Meet Further
Advances Credited With
Turning Scale.
DEPARTMENT STORES LEAD
Clothing Stock Surplus, Especially in
,Women's Wear, Likely to Bring
Reduetions-siIk Reductions
Are to Be Permanent.


the prices of all commodities by de-
partment and other stores throuehort
the country have led the buying pub
TIC to wonder whether or not these
reductions are the forerunners of con-
tlnued reduction in the high prices that
nave prevailed since America entered
the war. In an effort to ascertain the
cause and probable extent of the down.
ward movement, the New York Times
mas made Inquiries among representa-
i've merchants in the wholesale and
retail lines as well as among financial
leaders. Their replies seem to agree
that permanent reduction movement
has begun.
In the minds Of many, however,
there Is still much doubt as to the
meaning of the reductions that have
been announced and made by the de-
partment stores and other commercial
houses. Even those who are not vet
ready to say that a general fall in
prices is to be expected are unwilling
to predict that present levels will be
maintained. A majority Of wholesale
land retail dealers admit that prices
are too high and that a reaction must
come before the public will begin free
buying.
Surplus Of Clothing.
One phase of the reductions made
by department stores has been the eff
fort of middlemen to discover how the
plan is worked. Dozens of wholesale
and retail dealers confessed that they:
or their agents had made purchases at
| department stores for comparison
with their own prices and qualities.
The representative of a big London
department store said he had bought
from a department store certain ar
ticles much cheaper than prices quoted
by manufacturers.
In the wholesale clothing trade it is
generally admitted that there is a sur
plus OF goods. BY some this surplus is
said to be due to unreasonable wealth
er, and by others it is admitted that
the public has refused to pay existing
prices. A number Of representatives
Of this group said reductions must be
made all along the line, from the
manufacturers to the retailer. With
overstocks already on hand, clothing
dealers are said to be canceling Or
ders, while the mills are eager for
business and willing to offer price con-
| cessions. It is now predicted that
fewer sales will be made during the
| coming season, If the reports Of early
fall orders, booked by the clothiers,
may be taken as fair indication, but
what is lost i'll volume, the clothing
trade hopes, will be made up in a con-
centration on higher class garments.
Silk Reductions to Stay.
In the silk market it is no secret
that price reductions which have been
made are to be permanent. Huge
stocks Of raw silks are held in this
country by Japanese interests and
must be released following the break
in the Japanese market, at substantial
ly lower prices than were prevailing
during midwinter when top prices
were realized for raw materials. Mem
bers of this trade do not hesitate to
say that prices have been too high,
and that the time has come for a re-
adjustment on an entirely new basis.
A disposition to await developments
has marked the cotton goods market.
There has been only gradual easing
off in the prices Of printcloths and
sheetings which have a wide variety
Of uses when finished. In the prices
Of sateens and other fabrics used by
the clothing trades the reductions
have been more marked.
Belief is expressed in the financial
district that commodity prices will
continue downward because it is be-
lieved that wholesale prices reached
their peak in February, and that with
in few weeks the reaction will take
a stronger hold Of the retail markets.