New-York tribune., 1920-05-20
Manufacturers
Join i'm Move
To Cut Prices
Convention Here Adopts
Resolution Calling On
5,4OO Members to Aid
REIMBURSEMENT Campaign
rs 20 Decrease Is Seen
Reductions Are Arbitrary,
Effective in September;
Publicity Drive Urged

Recommendation to manufacturers
OF the country to reduce prices was
made yesterday by the convention of
the National Association of Manufac-
turers in session at the Waldorf
Astoria. A resolution embodying the
views of the meeting was addressed to
5,4OO members of the association, en-
ploylng more than 100000 persons
and controlling from rs to so per cent
of the output of the country.
While the resolution is couched in
general terms, leading members of the
association declared that the price re-
duction recommended is from 10 to
70 per cent and is to be inaugurated in
September. The figures were declared
to be arbitrary. They will serve as a
starting point for gradual reduction
of prices, which would tend to restore
the normal processes of production
without dislocating the industrial and
commercial structure of the country.
Will Aid Reasonable Efforts"
The resolution followse
"Whereas, The cost of living has
steadily advanced during the past
year, be it
"Resolved, That we are in hearty ac-
cord with all sensible efforts to re-
duce prices of commodities, and, to
that end we urge our members to CO.
operate in all reasonable efforts to
bring about that result"
Stephen c. Mason, president of the
National Association of Manufacturers,
explaining the resolution, said:
THE real meaning of the resolution
a no q n n
believe that they should take a definite
stand on the reduction of prices. While
1t does not set any specific figures or
recommend any percentage of reduc-
ton, it is understood the manufacture
erS see the necessity of reducing prices
of their products as much as condi-
tions and costs of production will
permit"
A. l.. Humphreys. president of the
Westingh ghouse Air Brake Company, of
Pittsburgh, said:
81 am heartily IN accord with the
principle of the resolution urging men,
bers Of the association to reduce
prices. I am sure that all members of
the association will cooperate toward
that end"
James A. Emery, general counsel Of
the association, said:
81 gather from the consensus of opin-
ion of the manufacturers that they are
sincerely desirous of reducing prices.
have been assured that they all will
cooperate with each other and the
country at large to accomplish this re-
suit"
Reaction From Profiteering
The opinion was general at the con-
vention that reduction of prices was a
natural reaction from a period of
protiteering.
j. Philip Bird, general manager of
the association, said:
"The reason for the reduction is the
halting of buying by the public and
the Tightening of credit by the Federal
Reserve Bank.
For more than three years retailers
have been competing with each other
to get goods, and this competition has
resulted in an overinfation of credit
They have subsequently run up prices
as high as the traffic could stand, and
the natural reaction followed-the pub
lie would not buy.
This proposition of reducing prices
is going to cause an armistice in buy
ing among both manufacturers and re-
taiers, and they believe that by letting
up on buying production will have an
opportunity to catch up"