Arizona republican., 1920-07-07
PRICES NOW ARE AT VERY TOP SAYS LOCAL MERCHANT I
Abe Korrick Returns From East To Declare Price Ad-
 vance Has Been Checked
 And Drop May Come Soon

"Prices will not, can not, go higher"
 That is the firm conviction that Abe korrick of korricks brought back with him from the East on his arrival yes- terday morning. after two weeks in New York on a business trip. With the conviction he brought back with him some interesting sidelights on the price cutting in the East.
 While the retailers cannot really claim they have broken the market, they certainly have succeeded in checking the continued advance in prices threatened by the manufac- turers," declared MT. Korrick yester- day. His statement, however. was made in regard only to wearing ap- parel. clothing and shoes, as no at tempt at cutting the price of foodstuffs has yet been made.
 MT. Korrick said he was firmly con- vinced that prices in clothing would not only go no higher. but might come down. The retailers, he said, were re- sponsible for checking the wave of high prices, and goods of many sorts can be found now at prices well below what they have been recently.
 Wannamaker Started It
 Not long ago the national clothiers association said clothing was bound to go higher" said Mir. Korrick. The same way in shoes. But the retailers thought the time had come to fight continued high prices, and the National Dry Goods association requested all its members to resist price advances and not to place advance orders. This move frightened manufacturers, so to- day clothing prices are no higher, and goods may be found at reduced prices"
 John Wannamaker and his great 20 per cent reduction sales started the re- tailers' movement, said Mir. Korrick, and Wannamaker is vastly popular in the East today as the result. After his 4Dfr, ir, and reduced their prices and continued the attack by acting against the manu- lecturers. The present policy of re- tailers, MT. Korrick said, is to order goods only when they need them, stop ping ordering in advance to get goods regardless of price.
 The retailers do not desire high prices, the merchant said; they want a stable market, which will give them time to find out where and how they stand. They want prices at point where people can buy; not prices that may go so high people will stop buying.
 Tight Money Market Aided
 The tight money situation had much 10 do with checking the upward trend of the market, said MT. Korrick. Spec u1ators in goods and materials could not renew their loans, and they had to get out from under. A big surplus of goods was released. A retailer who goes after them can find goods at prices actually lower than two or three years ago.
 The manufacturers claim, Mr. Kor- rick said, that due to cancelled ad- vance orders and curtailed production prices must go higher. but the retailers, he declared, know the temper of the people and that prices can not go up- ward. The cotton goods market, how ever. is still firm, MT. Korrick said.
 Wild spending and extravaganza are fast dying out in all parts of the coun- try. MT. Korrick said, adding that the return of the people to reasonable spending was a great factor in the price situation. If people refuse to pay high prices, prices can not be high.
 Buy As Needed, Is Advice
 "My advice to the public" said MT. Korrick, ''is not to be scared about higher prices, and to buy as the goods are needed. I am sure prices will not go higher
 General conditions in the east are not as bright as few months ago, the dry goods man said, due to the curtaiI- ment of expansion of credit by the banks. People are cautious about theil contracts and investments.
 MT Korrick was accompanied on his business trip by R. B. Baker of the sill department and 4. Strause Of the clothing department. They reported z fine trip, though exceedingly ho weather at times.