The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-05-20
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Senator Kenyon Asks COntinu-
ance of Buyers Strike.
All Broadway Is Now One Big
Bargain Sale.
RAIL TIEUP ONLY HINDRANCE
Senate to Probe "Making and
Selling" Costs.
Broadway Now Just "One Big
Bargain Sale."

Food today joined with clothing and
other commodities in the downward
sweep of prices.
Altho the slump in food prices was
not general. reported mainly from
southern points. leading wholesale
srocers in northern cities and govern
ment officials at Washington predict
ed that food quotations would soon be
lowered thruout the nation. They
based their forecasts on the tightness
of the money market and economic
couditions.
The contraction of credit will force
on the market goods which are being
held by spectators. causing flood
of sales thruout the nation.
The liquidation Of loans. ordered by
the federal reserve board, has been
proceeding quietly thruout the coun-
try for several weeks, it was learned
tcday. altho announcement of the
boards policy was not made public
until recently.
Borrowers were not being pressed
to the paint OF disasters, as bankers
desired to protect their customers
credit but they were given to under
stand tnat new 'oans would limited.
II, stock marNet continued to drop
today. due to the tightening of the
money situation. United States Steel.
regarded as tha indicator of the
market. was off 90 points from the
high of the year.
Another important factor in the
slump in prices was the falling off in
exports. The department of com
merce announced today exports we're
SI35.OOO.2OO less in April than in the
previous month.
This aas due 10 the fact that Eu
rope is getting back on its pre-war
basis economically and will no longer
need such a large amount of Ameri-
can products
Washington. May 90.-Food prices
soon viii feel the effects of the great
buyers strike it was predicted to-
day.
Reductions were forecast in meats,
dairy products and poultry If consum-
ors hold back on purchases as they
are now doing with clothes and mer-
chand;se.
senator Kenyon today in an inter-
view called for organization of anti
profiteerinR societies to carry on the
strike against unreasonable prices.
Senator Walsh. Massachusetts, an
nounced he would seek action today
on his resolution for appointment of
n senate committee to ascertain the
relations between high prices and the
concentration of wealth in the hands
of a few.
The railroad congestion is the only
retarding movement in sight in the
opinion of most officials. Congestion
OF traffic is likely TO create artificial
shortage OF commodities in some dis
tricts, il is feared.
New York. May broadway and
Fifth Avenue stores today have the
appearance of a huge bargain counter
Scores of merchants Joined in the
price cutting movement. Apparently
bargains in these places. a reduction
OF from 25 To rs per cent being an
nounced on all goods.
Decline in Ohio Spreads.
Cleveland O.. May 20.-Shops in all
parts of the state were joining the
price cutting movement. reports here
today indicated. Ten cities, including
p Cleveland and Cincinnati. arc now in
line.
Wholesalers Ready for Drop.
Chicago. May 2O.-Big wholesale
houses here today began preparing for
a general drop in the cost of living and
the restriction of credit by banks by
restricting credit to their own Gus
toners.
Marshall Field & Company. whole
sale reputed the biggest wholesalers
of dry goods in the country, have
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