The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-30
GENERAL PRICE CUT
GAINS MOMENTUM
Few Commodities Not Affected
by Decline in Domestic
Markets.
REIMBURSEMENT PROCEEDS
Detroit and Akron Want I'm
migration Halted as Unem-
ployment Increases.

That officials OF several OF the most
important automobile and tire nlanufac-
turing cities in tho United States. In
Guiding Detroit and Akron. have re-
quested the immigration officials at Ellis
Island to refrain from sending to those
cities any more immigrants for the pres
emit was made known yesterday when the
monthly review OF business conditions
was published by the Federal Reserve
agent of the Federal Reserve Bank OF
New York. More than $4,000 immigrants
entered the port of New York during
September, the review said, nearly 10000
more than in August and nearly the
same as In pre-war years. The number
OF arrivals thus far in October. it was
added. has been maintained. Very re-
GENTLY" the review continued, "the local
officials of Detroit. Akron and some
other cities where unemployment Is be-
ginning to increase have asked the Ellis
Island authorities not to send imnii-
grants to them"
In relation to domestic prices. the re-
view declared that the general price
drop has proceeded with increased mo
mentum and only q relatively small
affected Reports from various markets,
It adds. give unmistakable evidence that
rcadjustment Is in progress Many of
the basic raw products, such as hides,
leather. rubber cereals, sugar, cotton and
potatoes, have declined rather abruptly,
and certain manufactured articles notably
textiles, automobiles and a number of
other products, have had substantial de-
clines also. The banks index of twelve
basic commodities dropped 11a per cent.
between September 20 and October Is,
the heaviest months decline recorded.
Du,s's Rerfe,c says that "hopes that
reviving business will follow the cleo
tons find expression in some quarters,
but the results OF the balloting are not
likely to prompt a sudden reversal OF
consumers buying disposition. and there
Ia no general expectation OF any imme-
date appreciab BILE recovery from the ex-
listing economic depression. While con-
fusion over the fundamental causes of
the commercial reaction has not been
lacking, political factors do not explain
the steadily yielding prices of COM
modities. the increasing curtailment of
production and the continued spread Of
unemployment. and csn hardly be single !
out as giving promise Of any abrupt
change from this situation.
AT bottom the business readjustrnent.
as has been frequently reiterated Is the
inevitable outgrowth of the great infla-
ton and overextension of the war period
and afterward. and the movement to ar
a sounder and more wholesome basis Is
not one which can be swiftly comp ted
or effected without some measure OF dis
turbance. The accompanying unsettle-
ment has been more severe in some
trades and industries than In others, but
in all lines there Is clear evidence Of a
transition to a new order OF conditions
and OF return OF buyers markets"
Brddstreets State Of Trade says
THE trade and price movement is more
irregular. but on the whole rather less
cre sided than in the preceding week,
further retrograde movements in whole
gale trade. production, employment and
prices seeming to be partially balanced
by slight improvement in retail buying
and fairly distinct hardening I'm prices
OF farm products. which may or may
not presage turn in the hitherto ebb
ing tide of trade distribution.
ION what might be termed the con-
structive side of the situation Is to be
cited slight increase in buying at re-
tall-a quite distinct gain from quiet to
fair being noted from the apparent dead
low point of last week--the cause Of
this being apparently the advent of
lower temperatures or prospects of
more normal weather conditions West
ard South, though more attractive prices
Mt retail are cited as cause in som
few markets"