Arizona republican., 1920-05-20
TRepubIican A. p. Leased WIre1

Republican a. Leased fhifGI
 CHICAGO, May 19-The wave of price cutting in wearing apparel con tinued today to sweep the country merchants in many cities and towns announcing reductions in mems and women's clothing, shoes, hats and oth- CT articles.
 While some merchants said the re- duction could not be maintained after present stocks were exhausted, others declared the price cuts were the logl- cal outcome of breaks in the eastern market, a backward season and large stocks on hand.
 Owners of department stores in scores of cities today announced price reductions in mems and women's ap- pare1, ranging from 20 to 50 per cent while in some places shoes and other articles were sold at reduced prices
 Bankers Tighten Money Market
 While the movement, which assumed nationwide proportions yesterday, continued to spread, banking interests in New York today extended their campaign of deflation of credits and high commodity prices, carrying out their pledge to the federal reserve board
 Banks were reported to have sent word to importers and dealers in lux urious articles of apparel and manu- facturers of so-called nom essentials that only moderate financial accom- nodation could be expected now
 4 newspaper advertisement inserted today by a Newark clothing concern, denounced price cutting as s'an econ o1nic mistake Several Milwaukee merchants characterized the move ment as "circuss stunt"
 In St. Paul, where marked price re- auctions were announced, the largest wholesale millinery concern in the northwest. announced that 1t would open its doors to retail trade and dis pose of a s1.300,0O0 stock at prices 50 per cent below prevailing retail prices. One large mens furnishing store, which operates in several cities, announced a general reduction Tn prices of Is per cent.
 Cottons- Linens Also Affected
 Price reductions ranging from 15 to 50 per cent were advertised by a mum Der of Boston retail stores Whlle most of the reductions were in cloth ing, one department store announced g reduction of 25 per cent in lines of cottons. blankets. linens and similar mats, some women's stores marked prices down one half.
 At St. Louis three department stores cut clothing prices 15 to 25 per cent, while several mems stores announced B 1-3 per cent reduction in mems suits. A Texarkana. Ark, shoe store an nounced sale of SIP shoes for s4-s9.
 Shoe Prices Tumble
 NILudlly all ltdu4AS otOAC tlt ~tAeAN- tanooga advertised 20 per cent dis count on all goods except contract commodities, one Columbus store re- duced women's clothing B 13 per cent and another conducted a half price sale on all it's spring suits.
 Price cutting in the sale of textile material, hats and furnishings, put into effect in many San Francisco establishments yesterday was followed today by the announcement of one shoe firm that it's stock was being disposed of at a reduction of from 10 to 40 per cent
 Many middle western cities and towns reported reduction in clothing prices. A break in the eastern market a rainy spring and large stocks on hand were responsible. merchants said.
 Credit will be helped through the reduction of indebtedness resulting from the disposal of merchandise in price cutting sales, @ financial author ity said tonight.
 According to reports from many parts of the country, merchants are offering Inducements to buyers, indi- eating that they are trying to reduce inventories and indebtedness. They probably reached the conclusion that the time has come to reduce stocks Whether all the merchants are making the reductions they advertise cannot be told 'f