Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-10-28
Prices and Wages
Show Additional
Downward Trend

Shcago, Oct, 2S,-PriceS are doing
ia Humpty Dumpty fall. Employment
Is stlll slackening. Evidences of this
were posted yesterday in several sec
tons OF the country.
In st. Louis several wholesale COM
panles announced reductions in dry
goods prices--in some instances as
nigh as 30 per cent. Declines in the
cost of materials at the mills and
general price readjustment were the
reasons ascribed. AS examples of the
81. Louis cuts. Bingham. which re-
Gently sold Mt 30 cents a yard whole
sale. now Is offered at II cents; per-
Gale. which at the peak struck 80
cents yard, now is going at 121a
cents. or 2h cents below the prevail
ing mail prices. AS to silks. good
which at the peak brought IS a yard.
are now marked as low as $3.50.
These, 1t should be remembered. are
wholesale prices, not retail.
At Greenvillc, s. c.. several large
cotton mills, following the example OF
New England plants, announced re-
ductions OF 10 to 20 per cent in wages
in order to keep going.
New York, thru the department Of
Justice, announced reductions in the
prices OF hotels and restaurants. In
the white light" sector special table
d'hote dinners We're cut from $3.50 to
$3.50. Sounds like old stuff from At
torney General Pnlmers converse
tional experts.
In Chicago one significant touch
was the blossoming of new signs lin
come OF the loop tailor Stops VIM
dows which for months have exhibit
cd suitings marked 800 a suit now
display goods marked $50 and $S5.
The goods may be different, but the
emphasis lie on lower prices.
Signs Of growing unemployment
cropped up in many quarters. ONT
large department store reported that
more than 200 applicants for clerical
Jobs had lined up at it's employment
office yesterday morning. It had not
experienced any such rush in the last
eighteen months.
At Ware. Mass, the Otis Companxn
announced Its cloth department win
1000 employees would operate only
foud days week starting Monday.
because OF lack of orders Some
other concerns are going to half time
and less. Word from New England
IS that workers in the textile in
dustry are now working. on an
average, not more than half time.
On the west side in Chicago slack
ness OF employment In the carmen.
indastry is growing. while In New
York It has reached large ,propor-
Itions.
In the lumber industry mills are
closing down because of stagnation
In building construction, due to high
prices. The mills in the last few
months have made cuts in mill
prices, in some instances, ii is claim
ed, going below the actual cost of
production in an effort to make sales.
But no proportionate reduction has
come as yet in retail prices.
Memphis reports that 95 per cent
of the hardwood mills in the south
ern territory will be closed by Dec.
l, Helena, Ark, a hardwood Nproduc-
ih6 SCAIeh, ja0dyS ouiy oie OIL us
tWenty-seven lumber mills will be
operating by Nov. l. Some Of this is
seasonal, but much more is caused
by lack of orders The slump in build
ing, in furniture factories, in phono-
graph plants, and other lines using
hardwood is now backing up until it
reaches the logger himself and
throws him out Of work-so close is
the economic fabric knit.
On the Pacific coast saw mill pro-
duction is expected to be curtaiied SO
per cent by the end of the month.
Despite low mill prices, stocks are
piling up at the mills, the retail
yards not buying in usual volume,
because of the uncertainty and also
because of high cost stuff already in
the wards.