The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-10-29
Mound City Wholesalers
Accept Huge Losses in
Slashing Prices
BIG CUTS ARE MADE
Reductions in Some Instances
Amounting to More Than
80 Per Cent Made
by J. G.. l. BRICK Err,
l. N. r. STAFF Correspondent

ST. LOUIS, oct. 2s.--"Wo nre
taking our medicine
This was tho hugo sign flung over
the front OF the Carleton Dry Goods
company building as wave OF price
siashing on millions OF dollars
worth of dry goods swept over the
u. Louis wholesale district today
Reductions Of as much az 90 per
cent arc In effect in some of tho
big stores on certain lines Of dry
goods.
st. Louis is swarming with buyers
and immediate reduction In retail
prices over tho middlewcst will fol-
low. wholesalers predicted.
Wholesalers. II was reported. were
taking their medicine" in the form
Of nasty doses of huge losses In
some instances, It was stated, prices
we're cut to below the present mill
prices.
May Be an Agreement.
There were Indications that the
widespread price slashng was the
wholesalers. David II. Calhoun OF
the Ely Walker Dry Goods company,
ono of the largest Wholesale con-
Germs In the middlewest. confirmed
this to the extent OF stating that
his concern had conferred with the
RiCe-Stix Dry Goods company an
other million dollar concern, as To
the date the price slashing should
begin, but he refused to say whether
there had been any agreement as !"
she extent Of the reductions
Calhoun stated his company alone
had placed $4,000. 900 worth OF dry
goods on sale. He refused TO con-
firm report that the company
would lose 100000 through the
sale. but stated 1t would incur heavy
losses.
The exact reason for this tre-
mendous cutting OF prices could not
be learned. but the statement
Calhoun that wholesalers in other
cities. particularly . Chicago. are
watching MS closely. with n view To
following" was taken to indicate
IN some quarters that ST. Louis
wholesalers might have started
price cutting war with view to
capturing trade formerly going to
Chicago and other large midwest
wholesale centers
st. Louis Takes the lead.
This In the first time st. Louis
has taken the lead In cutting prices"
Calhoun stated. "Our desire is to
readjust prices as rapidly as pos
sible and place goods In the hands
Of tho consumer Mt the lowest prices
possible. The consumer should bc-
gin to benefit almost Immediately.
through retail price cuts which must
follow our reductions"
Ernest w. Stiy, president OF the
Rice-stiS comranv, declared;
I'VE are meeting the conditions
of the day I feel that in this sale
we have reduced 10 as low n poirt
as we can go, We are taking n great
loss TO bring about this rcadjust-
mont Of prices"
''1t must take place all aIong the
line" decvred Jesse L. Carleton
OF the Carleton Dry Goods company.
and the retailer may have To- stand
loss M well az the wholesaler "
Examnles Of reductions. ms OBJ
tained from the various wholasa lcrl
show; Gingham, recently selling M
40 cents per yard now IT cents:
percale. which reached tho peak at
30 cents, now f2h cents or 90
cents below the present mill nrices,
silks, which were as high az sh per
yard, now selling as low as st.1r
and should soon sell for from Size
TO W retail; muslins. 30 cents be
low recent peak prices.