The Powder River County examiner and the Broadus independent. [volume] (Broadus, Mont.) 1919-1935, 1920-06-04
PRICE SLAsH|NG
ONLY TEMPORARY
RETAILERS SAY IT CANNOT LAST
AFTER STOCKS ARE De.
PLETEp
OTHERS SAY IT Is LOGICAL
Wave Of Reduced Prices Continues to
Sweep country.-eanks Reported
to Have Warned Luxury Deal.
ers to Go Easy

New York. May .o.-Inflnence by
the nationwide price cutting agitation
that is steadily gaining ground. the
principal commodity markets Of the
country yesterday continued to mark
down quoted values. Cotton, sugar
and corn options broke violently here.
and IN Chicago cereals and provisions.
including pork. also suffered sharp re-
actions. Significance WAS attached to
the drop in pork prices rs lMss.X1ng
the first pronounced break in high
priced fOotlstuffs.
The stock exchange showed inn
prOvement on sharp recovery Ut
liberty bonds and victory notes.
A large part of yesterdays liquida-
ton in cotton and grains was attribute
ed to the further scaling down Of cred
its by banking institutions here and in
other reserve centers. evidently in con-
formity with the request Of the fed
eral reserve board.
In the local cotton market. May con-
tracts broke almost 400 points with
equally sharp reactions in New Or
leans. The Liverpool market also re-
ported substantial reactions.
Chicago. May oO.-The wave Of price.
cutting in wearing apparel yesterday
continued to sweep the country. mer-
chants in many cities and towns an
nouncing reductions in mems amt
women's clothing. shoes. hats and
other articles. while some merchants
said the reductions could not he main-
tanned after present stocks were ex-
hausted others declared the price cuts
were the logical outcome of breaks in
the eastern market. IL backward seat
son and large stocks on hand.
Owners Of department stores i'm
scores Of cities and towns yesterday
announced price reductions in mems
and wOmen'S apparel ranging from -
to 10 per cent. while in some places
shoes and other articles were sold at
reduced prices.
While the movement which assumed
nationwide proportions Monday. CON
tinued To spread. banking interests in
New York yesterday extended their
campaign of deflaiion Of credits and
high commodity prices. carrying ont
their pledge to the federal reserve
beard. Pressure exerted by banks in
the wholesale dry goods and general
merchandise districts was said 10 b..
responsible for the wave of rrice-rut-
ting in the retail trade.
Banks We're reported tn have sent
word t" importers and dealers in luz
urions articles of apparel and mannf.ir-
turers Ut s0-called nol,-essen,;alS that
only moderate financial accommodate
lions could be expected now
The price-cuts largely were con-
fined to wearing apparel. hut Il srreat
Of the movement to other lines was In
dictated by the action of Omaha dem
lists in reducing their prices.
A newspaper advertisement ye>ter-
day by n Newark clothing concern de-
nounced price-cptting as IAN economic
mistake" asserting that il is "rcn-
nomically unsOmnd to sell merchandise.
today for price which is less than
we can buy it from the makers any
where. What the world needs is great
err production, not the drastic sacrifice
Of retail prices. Several Milwaukee,
merchants characterized the movement
as Il "circus STUNT
In st. Paul. where marked price re-
auctions were announced in business
establishments. the largest wholesale,
millinery concern in the northwest an
nouncel it would open its doors to re-
tail trade and dispose Of $l.3OO,NA,
stock ut prices 20 per cent below pre-
vailing retail prices. One large mems
furnishings store. which operates
stores in several cities. announced II
general reduction in prices of Is per
cent.
Price reductions ranging from Is to-
30 per cent were advertised by num-
her of Boston retail stores. While most
Of the reductions were in clothing. one
department store announced n re,luc-
ton Of % per cent In cotton blankets.
linens and similar materials.
A TexarkanA. Ark, shoe store an
nOunced a sale Of $12 shoes for S4.So-
Other stores advertised large resluc-
ti0ns.
A break in the eastern market. Il
rainy spring and large stocks on hand
were responsible for reduction in
wOmen's clothing, dealers said.
FAVOR SOLDIER RELIEF.