Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1920-06-02
High Price Reign Not Yet.
Stopped.

= . =
cent reductions in prices, little relief
from the general reign of high prices
is seen by the federal reserve board,
in its analysis of May business con-
ditions made public tonight. The
board expressed the view that there
has been no change in the underly-
ing conditions responsible for the
high cost of living.
Asserting that while "sstore saleso
and tendency to lower prices bear
witness to the presence of disturb
ing factors" which suggest the adj
vent of wide alterations in price lev
els, the board declares it can not :ac-
cept the situation as a whole for its
face value. The explanation is added
that there has been only a slight IN
crease in production and there is mo-
greater disposition on the part Of the
general public to economic and in
vest than had ruled heretofore.
"The changes. that have taken
place, therefore" the boards state
ment said, "can not be looked upor
as indicating modification Of under
lying conditions. They may, however,
afford a basis for changes in business
relationships that may broaden into
more far reaching alteration of the
essential price structure" e
Business Suffers.
Business in every section of the
country has suffered considerably
from the freight jam which has pre-
vented normal rovement of products
to markets. Effects Of the tie up are
noticed in the agricultural districts.
as much as the industrial areas, and
that farmers are not the smallest q
class which has sought more bank
help in the way of credit as a result. 4
Results of the boards action in the
direction of restricted loans already
has begun to be evident, according
10 reports Of the various reserve
banks. In answer toSa general reduc-
tion insthe value as well las volume Of q
in ties ancial centess 4
iillei 4 lei ii =
interest rates affe feetng both CONNER
cial paper and call money.
The labor situation during this.
month has been one of the outstand-
ing elements of doubt and difficulty,
and is one of the larger problems
with which the country is expected to-
have to deal this summer.
"Wages have apparently fallen Sbe-#
hind the advance in prices and the 2
cost of living" the statement contin-
ues. "The movement of labor from
farm to city is continuing Various de
mands for higher. wages have been
taken under advisement for the pur-
pose of bringing about compromise
General complaint Of i
low efficiency or small output per
unit of labor is prevalent and the diff
fculty of getting skilled labor in
some of the more highly developed
lines of manufacture is now very
considerable"
Disturbing Factors
The disturbing factors have ma.
terially affected many lines Of man.
ufacturing although general manu- .
featuring continues in substantial
volume. +
Cancellations of orders in both
cotton and wool by the jobbing and
retail trade have not yet reached
large proportions but they are al
ready noticeable. This has resulted
in some manufacturers being forced
to "make concessions to retailers,
who were described as being quite
The same situation was
said to obtain in the leather trade.
With respect 70 conditions, local to-.
the various reserve districts the
boards review said in part:
"No. 2. (New York; Price re-
ductions are noted in retail stores,
a considerable accumulation of goods !.
awaiting shipment resulting FROM
strikes, growth in the cost OF doing
business, great reduction in securl- /;
ties prices, but nevertheless, con-
tinued high demand for goods and ac--
tivity in trade.
.No 5 (Richmond.) Unrest and
uncertainty in commercial fields have
continued and agitation against high
prices has led to some curtailment in
Collections are good on