The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-09-28
DOWNWARD
TE nDENCY
CONTINUES
Cuts in Cost Of Living An.
nounced in Many Cities.
Building Price Falls

Chicago, Sept. 2S. = UNITED
Press A)-Further steps to reduce
prices we're expected here today.
Chicago hotel men were to meet
today to consider reductions in the
cost of eating. Russell J. Poole,
directing the city's fight to lower
prices. was prepared to point out to
the hoteNmen alleged discrepancies
between the cost and selling prices
Of food listed ON their menus.
: "No Trouble" Says Poole.
Il think we will have no trouble
showing that so cents is too much
to charge for one cents worth of
tomatoes and that 60 cents is more
than 2 cents OF corn on the cob is
WORTH" said Poole.
Food prices continued to tumble
in the middle west today.
Potatoes were selling at from
$3.50 to 81 q hundred pounds whole
sale. Peaches, tomatoes and fruits
weie quoted at close to prezwar
prices.
Studebazer Cut
The Studebaker Corporation an
nounced reduction of from $125
to $500 in the prices Of its cars. The
Stewart Motor company reduced
the prices on motor trucks Is to rs
per cent.
The city of Chicago's venture as
a merchant was to be given a try
out today or tomorrow. Seven lake
steamers sent to Michigan to taAe
on fruit were. due to arrive today.
The city intends to sell the fruit at
cost.
New York, Sept. 2S.-(United
Press. l-Reductions in the price Of
autofnobiles made by the WHY'S
Overland company Of 500 to 5000
per car were announced today.
Car Cut.
Detroit. Mich. Sept. 2S.-(United
Press .)-The Hudson Manufactur.
ing company, manufacturers of the
Hudson and Essex cars, today anl
nounced a price reduction on all
models of the two ears, ranging
from 5000 to $45o.
Doyle Forecasts Boom.
New York, Sept. 2S.-(United
Press. s.l-The nationwide housing
shortage, expected t6 reach a crisis
Oct. l, will soon be relieved through
the present, price reductions in
building materials, In the opinion
/, Of Edward P. Doyle, manager Of
the information bureau Of the Real
/, Estate Board of New York.
Doyle forecast q boom in dwell
ing house building Immediately. The
building program, he said, will be
20 extensive the apartment conges.
/, ton probably will be practically
obviated within five months.
According to Doyle, increased
/, building will tend to bring about
lower rents under the economic
I law Of supply and demand.
Another way the reduced cos1
/ of materials will affect the housing
! situation will be to make loani
more easily obtainable," Doyle said
Banking concerns have not beer
inclined to loan the full value OF
contemplated apartment houses fol
the reason that with a later fall il
the price Of materials the buildingl
would represent much less valu,
than the actual investment.
Searching for Panacea.
I Brussels, Sept. %. = (Unitet
,tPress. THE search for an econ
omic panacea continued today Il
the international gathering of finan
cial experts here.
j A committee under the chairman
| ship Of r. H. Brand, Great Britain
vice president of the conference
! went to work on clarifying discus
sions Of indirect and direct taxa
/ ton. the cost of living, means o
i defiation. currencies, pational loan
and the like. Il
Building Material Going Down.
Washington. Sept. 2S.-(Unitet
Press. Prices Of building mater
ials now going down side by sid
with food and clothing prices cal
weather q so per cent slash with
Tout touching bottom, reports to th
labor department showed today.
4 A 30 per cent reduction woull
leave dealers in building material
| 17S per cent ahead of the game .
they played 1t in pre-war days, tn
departments records indicated.
i VIM Relieve House Shortage.
/ Cuts in building material price
will 90 far toward, solving the en-
, tire problem o9living costs, omcial
said /today. Reductions that n
permanent will bring . rush q
construction >WoFk early in tn
spring. relieving the house short
age. The country now Is 5000 90
buildings sh6rt Of normal. accord
ing to ofncials OF the United State
housing corporation.
i Means LEVER ReatA
4 An increase in construction wor
means lower rents. To the averag
farmer this means more money fc
food, clothing and recreation. cax
which goes directly into pockets Z
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