davidaulloa/AmericanStories huggingface dataset:
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22

spirited. They are doing it because
they are stuck with too much goods.
They are defeating their own
ends. Their action is only pro-
longing high prices. 1t will not
break the backbone Of high prices
because it is forcing on the markets
great stocks of goods which will
need to be replaced. All goods from
wholesalers are quoted higher for
the coming months.
Prices are not going to drop,
They will eventually stabilize.
Wages are as high as they will be
When production catches up with
demand we can look for a change.
There is now a world shortage Of
raw materials and manufactured
products. Laborers are receiving
higher pay but working less time
and with less effort. Figures show
that there is a 50 per cent decrease
in production with a 50 per cent in
crease in wages. -
1.-THE public should not be de-
cefved by the action of a few
panicky merchants whose methods
are merely a camouflage to hide the
real purpose. These are economic
ally unsound. poor in judgment and
will reflect higher prices later on. -
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
H. W. Won MAUER,
Harmed and Won Mauer, Davenport

1--WE believe merchandise should
be and will be cheaper-but when?
THE propaganda OF the present
time is fictitious. 1t may bring
down a few articles for a short
time, fctitiously, but any eventual
action will be counteracted BY the
creation of an artificial stimulus
for retail buying. There will be a
renewed demand on producers, who
will sustain and probably advance
their prices.
Some merchants have overload
ed and have been forced to thrust
their goods on the market, because
of the action banks have taken.
They will not in this way bring
about general drop in prices.
There will be q gradual drop but a
slow effort. not panicky action
OF this nature.
The reason prices can not fall
is that production is low. The great
economic waste of raw material
during the war, labor strikes, de-
lays IN transportation. have all op-
Grated to keep the supply below the
demand and We have not yet been
able to catch up.
This propaganda of some mer-
chants. for which John Wanamaker
is responsible. will simply operate
to create unrest and not to bring
about the desired end"
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
GEORGE N. LOOSELY,
President Fisk & Loosely Com.
pany, Moline.

"The wave of temporary price
reductions on retail merchandise
which is sweeping the country at
present is but a furry and will
have no influence in permanently
lowering prices.
Merchants who are Offering 20
per cent discounts on their regu-
lar stocks, if they are not charging
unreasonable profits, cannot ex-
pect to realize sufficient profit to
carry on their business. Unless the
prices Of their goods were marked
up previous to the sale when they
come to replace their stocks they
will have to pay as much if not
more than the price at which they
retailed.
After the present furry prices
will revert to their former notch
and I believe will not be percept-
ably lowered until fall. l do not
expec. a genuine price decline be-
fore the first Of the year. As long
as the American dollar is worth
only about As cents lower prices
are practically impossible.
scare of Sir Johl. Franklin.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
Personal Points

Mrs. 8. NJ. Wilson Of Ella
Twelfth avenue left yesterday for
Monmouth to visit with her daugh-
ter, Miss Gladys. who 10 . student
at Monmouth college.
Friends OF Mrs. S. Walker Of
1905 Second avenue will be inter-
ested in knowing that she has NOV
cd to 1901 Fourth avenue.
Mr.. and Mrs. George England Of
14lS Thirty-hrst street announce
the birth of . son. May IS. He has
been named Bernard William.
A daughter was born this morn.
ing to Mr.. and Mrs. Sidney Meanor
1907 Sixth avenue. Mrs. MeanoI
was Miss Nora Wevsrling before
her marriage.
Miss Edith Stone Of McKeesport
Pa, is visiting at the home Of Miss
Anna Swenson, 1872 Thirty-eightl
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
OTTO PRIESTER
OF Priester & Hickey.

"In my opinion, the principal
cause for the reductions that are
being announced in prices is the
fact that the most Of the merchants
are overloaded-have too much
stock on hand. That condition is
true with our business, at least.
This has come about by the mer-
chants ordering two or three times
as much as they really needed
when they found the manufactur-
ers and jobbers were sending them
only so per cent or third Of what
their orders called for. This has
been going on for some time, and
now the manufacturers are catch
ing up with their orders, and send
ing ahead that stock On back or
ders which they had been unable tc
supply previously. Overlooking,
l believe, is more important fac
tor in move to reduce prices than
any other that may exist. The mer-
chants feel they must unload"
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
j. L. VERNON,
President Of the Peoples National
Rank

'"This so-called drop in prices is
Just a temporary wave and should
not be mistaken for something
fundamental. Following the Civil
war there was a period Of recon-
struction Of rs years, when prices
maintained their level. 1t is nat
ural that We should pass through a
similar period now.
THE secret OF these prices Is
partly labor shortage, although pro-
duction is fairly normal. But large
and extravagant buying has much
to do with the present high prices
Consumption is having a merry Jazz
joy-ride. One local store sold in
the month preceding these discount
sales, more than $4,000 worth Of
goods in excess Of what they had
ever sold before in an equal period
of time in their history. As long as
the public continues to buy in this
way prices will remain up"
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
HENRY f. LUNDT,
President Of Lundt & Co., depart
ment store merchants, Moline.


Reports of price reductions are
in the main fictitious and any at
tempt on the part of retail mer-
chants to make wholesale reduc-
tions on their regular stock would
tend, by stimulating consumption,
to intensity rather than to remedy
price conditions.
Production must be increased
before we can hope to have lower
prices. This probably will not be
for some tipe as We merchants are
fully expecting to pay more for
our stocks this fall. In fact We
are selling numerous articles now
that it would cost US to replace at
wholesale. Eastern markets report
a shortage rather than a surplus OF
raw materials which certainly does
not tend to bring prices down.
"a number of merchants, to pro-
tect the consumer, stocked their
stores heavily this year. A late
season made it difficult for them to
dispose of their stocks without
greatly cutting the price. After
these stocks have been reduced to
normal former prices will be re-
stored"
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
BIG BARBER UNION
NOT UNDER RULING
IN TRUST VERDICT

New York, May 22.-Local. or
"neighborhood" clubs, formerly
operated by members of the Bar
bers' Supply Dealers Association
Of America, in various cities
throughout the country, have been
discontinued in compliance with a
decree signed on May Z by Federal
Judge August N. Hand in dissolu-
ton proceedings brought under the
Sherman antitrust act, it was
learned today.
An erroneous report, circulated
at the time Judge Hand signed the
decree, stated that he had orderd
dissolution of the central organiza-
ton, the BARRIERS Supply Dealers
Association Of America. Existence
Of the central organization was not
affected by the decree.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
SOLDIERS BONUS
BILL Is IMMORAL,
DIR. ELIOT AYERS

Boston, May 22.-Dr. Charles W.
Elliott, president emeritus Of Har-
ward university. s6eaking At the
New England Red Cross conference
yesterday. denounced the proposed
soldiers bonus bill ~ immoral"
After condemning the practice
(which seems to prevail In an as
tonishing degree In American fami-
lies to make pscuniary payment for
services that ought to be perform
cd for love and duty" he added:
"And now It IL proposed to offer
this same sort Of . premium to the
national army in the form of a
bonus. Could anything be more i'm
moral or suggestive Of : wrong IT.
utude toward tho duty which every
young man owes his country? It
indicates q total misconception Of
he individual service In . Democ-
ray
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22

street. Minis Stone 10 attena,,A =,
commencement exercises ~ ~
tana college. from which ~
brother Rudolph graduates. =
Mr.. and Mrs. Roy Nordstro. !.
Los Angeles. CAL, arrivs1 u
morning to spend the summe, ~.
Mrs. Nordstrom's parents, n, y. -
Mrs. c. A. Stevens, 2s2s Thirt....
avenue.
Mrs. W. o. Hill. who In, =.
visiting her parents. Mr.. ana ~
Van Arsdale. 5l4 Sixteenth ~.
left this morning to Join hsr ~
band who 10 with the Iowa ~
Highway At Jefferson, Iowa
Miss Gladys Arne left this a..
noon for Chicago where a. ~
spend the weekend.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
TOM HAEGE,
Proprietor of the Haege Tailoring
and Clothing Shop.

prices can not drop in this line
of business when the costs OF pro-
duction are mounting. OF course,
some of the merchants over the
country and possibly in the tri-
cities have got a little panicky and
are attempting to unload and 9TH
ers are announcing sales at which
they claim the prices. are cut as
much as so per cent. !. for one,
would like to see lower prices, but
the time has not yet arrived in
spite of these so-called SO per cent
reductions. The wooden mills from
which l secure my cloth have just
signed up with their workers at an
increased wage of Is per cent for
seven hours work. These mills adj
wise that prices will not and can
not drop. and feel that l can guar
antee there will not be a scent
reduction in the price OF this mer-
chandise betewen now and next
Christmas"
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
GOOD ORDER IN SPAIN.

Salamanca. Spain, May 22.-
News from the town Of BEAR says
that after the declaration of mar
tial law there yesterday in conse-
quence Of the bread disturbances,
the day passed of quietly. On the
promise of the government to send
provisions Immediately the work
err resumed their tasks.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
Students of Finance In
Rock Island Optimistic
Over Money Situation

business man. it IL the diverting OF
these millions OF dollars into rec
ognixed channels Of legitimate and
stable business that is the chief OBJ
ject Of the present rather drastic
methods being applied to the ma
tons finances. The banking insti-
tutions of the country are simply
applying the nations financial
brakes at the request Of the fed
eral reserve board. the head Of our
whole money system, it was ex-
planned.
By placing their money in bonds
and stocks Of concerns manufac-
turing luxuries and paying larger
returns on the investment than
the more stable lines Of industry.
the people have fostered the growth
Of such businesses until in the last
three years they have popped up
like mushrooms and thrived as
they had never before. They could
pay more for the things they need
ed, such as material, labor or mon
ey, than more conservative enter
prises, because of the unprecedent-
ed era of prosperity they were en-
joying. As a consequence legiti-
mate forms Of business were forced
to meet their competitors In the
!, material and labor markets, and
the result was the steady price
imitation that has been experienced
in the last four years and which
has extended to all phases Of the
nations economic life.
Now it is believed that with the
withdrawal of financial support
that is, as much as is reasonably
possible-from the sO-called non
essential industries and a slight
tightening up on other business a.
we'll. it will result in directing the
money of the country into safer
and saner channels, awaken the
| people from their wild nightmare
of wild spending and extravaganza
and reduce prices. But in this
connection it is pointed out thai
the price defation naturally mus
and will extend to, and affect. ev'
cry part of the nations economic
fabric, as did the increase. Re
turns on investments, profits or
merchandise, the sale price Of ma
terials and wages-all must adjus
themselves to the new but norma
standard. 1t is during this periot
of adjustment, which is believed tt
have already come, that the ''darl
days" or rough sailing" may b
experienced. However, nowhere i!
the opinion entertained that PAM,
is approaching. nor any condition
that even borders on such a stat.
OF affairs. In this respect the pres
ident Of one of Rock Islands bank
ing institutions went so far as tt
say that while he felt things wer'
going to be adjusted and that thi!
insane sort of life that the countr!
has been leading is nearing an end
he did not believe that conditions
would ever revert back to thei
pre-war level. .and that whil'
wages and prices would be consid
erably below what they have been
they would never tall to their for
i mer mark.
But, regardless Of at what leve
the down-sliding prices finally set
tie, it is believed certain it will
have that most desired effect o
making your dollar worth some
thing a whole lot nearer the orig
| inal value than the present veal
ratio.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22

Making your present 30-cent dol
lar worth something like its nor
NAL value Of 100 cents-that in a
nutshell ID the consensus OF opin-
ion among the Rock Island bank
ers and other big business men, in
viewing the national financial sit
uation, or condition. with its pres
emit run Of price-cutting, market
breaking and reduction Of specula-
ton.
That the present financial con-
dition over the country will ulti-
mately work toward increasing the
value Of the American dollar, which
during the last four years Of ever
soaring prices has fallen until it
very much resembles the proverb-
ial 80 cents" all are agreed, but
that there may be An intervening
period Of very dark days is also
the opinion held quite generally.
One Rock Island banker, in dis
cussing the situation, which he ad-
mitted was SO complicated and
many-angled that 1t was q terrible
tangle for even a master of finance
to attempt to straighten out, said
it was only a natural attempt to
get back to normal after the war.
He said:
I'VE have been speeding along
! during the war and since, for while
the fight was on that was the ma
tional cry, speed, speed and more
speed for production was what
was wanted, regardless of the con-
sequences that might result to our
national economic life. We became
accustomed to speed, and after the
war was ended we kept it up. The
result of continuing in such q
course is one that anybody car
see. There had to be halt. We
had been in high too long. We
had to change into low for We
were headed straight for a stone
WALL. Fortunately we are shifting
into low when it is entirely rea.
sonable to believe we avoid many
If not all. of the dire consequences
into which our former course was
leading US.
NOW, while all of this is spoken
in a fgurative sense, it tells pretty
clearly the situation, both locally
and nationally. Within the last
week or SO the people as whole
have stopped for the first time te
take stock OF themselves and SET
where their mad course was taking
them. That is hopeful sign.
Already, I believe. benefit ha.
resulted and by the time the ad
justment period is over. which will
not be likely until some month.
after the fall elections. l can fore
see an unusual era Of prosperity
for the country-prosperity estab
lished on firm and safe basis"
| As is generally known, the fed
eral reserve boards request for th'
withdrawal of financial supper
from speculative and other non
essential enterprises and business
es. is the underlying cause of thu
break in the New York stock mar
ket with the resultant wave o
price-cutting and steady Tightening
up OF money conditions over tn,
United States.
| Interpreting the term OF non-es
sential industries, local business
man said it meant the manufactur,
OF automobiles and other luxuriei
in which millions Of dollars hav,
been invested and spent. during thu
war and since. According to thi!
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
SOCIALISTS HOLD
INITIAL MEETING

Chicago. May 22.-The first meet
ing OF the Socialist partys presi-
Dental campaign in behalf Of En-
gene V. Debs. was inaugurated here
last night. Seymour Stedman. So
ciaiist candidate for vice president,
made the first speech of his. cam
paisn. Otto Branstetter. executive
secretary Of the Socialist partv
WIS one of the other speakers.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
G. s. Mccartney,

G. S. Mccartney, editor and pub
Usher of the Albany (lll) Review,
died at his home in Albany this
morning. according to word receiv-
ed in Rock Island. Mr.. Mccartney
was prominent politically in the
state in Democratic circles and
noteworthy in journalistic work.
He had passed his S0th year at the
time of his death.
The funeral. to be held in Albany,
Monday, will be attended by Depu-
ty Sheriff Jesse Hanna, Mrs. Birdie
Hanna, and Miss Fac Hanna of this
city, relatives of the deceased.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
Price Reduction, Cause
and Consequences, From
Standpoint Of Merchants
ROBERT KARLOwA,
General Manager Of Ysans Z Nc
Combs.

General Manager Of Ysang Z Nc
Combs.
THAT the drop in prices Is on
and will continue, Is my opinion.
The people are wanting cheaper or
lower priced goods and are insist
ing upon having 1t, and as long as
they continue this demand and re-
fuse to pay the high prices, the
merchants will naturally have to
reduce prices and purchase the
lower priced goods In order to sup
ply their customers and remain in
business This in time is bound to
reflect on the manufacturers and
bigger jobbing houses with which
the retail merchants do business.
They will either have to cater to
their trade and place their goods
on the market at the lower prices
or some others will.
In proof Of this and that the ef-
feet Of this movement 10 already
being felt by the big houses which
supply US with merchandise, we
are III IcC6lQt VI . ICAC6A oAA ~ AZ
ing us to discontinue our price
cutting and offering to buy up our
stock and adding the threat that
should we continue the present
price-reduction sale they would sue
us. However, the sale is going to
continue, for with the threats have
come kilograms from other houses
offering to supply US with goods at
greatly reduced prices. In my
opinion, the houses which are now
making the threats and fight
against the lower prices will be
glad to sell at reduced prices by
the time the merchants are ready
to buy, or they won't sell at all.
John Wanamaker started the
wave Of retail price-cutting and the
larger and far-sighted merchants
all over the country have followed
suit, because behind it all lies the
financial situation, upon which all
business depends"
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
DAVE NEUSTADT.
Manager Of Neustadt and Sons,
Davenport

davenport
"The time has come when the
public is entitled to buy at lower
prices. Sales now being held are
to bring down the general high
cost, and they are going to be effec-
tive. We have reached the peak
Of high prices and the down slide
is begun. 1t will be gradual, but
certain.
Some merchants are not willing
to sacrifice their high profits of the
last few years. We knew that
when we were receiving these high
prices We would have to take a loss
later on. That time has come, but
a few merchants are not willing
to concede it, and are endeavoring
to maintain the standard of high
prices and big profits by refusing
to reduce on their merchandise.
Merchants who take such an atti-
tude are not right with the public.
1T is a fact that the opening
wholesale prices for the coming
season are higher, but it remains
to be seen whether they will re-
main so long. Manufacturers Of
one OF the best known brands OF
silk hosiery recently announced to
retail dealers a raise in wholesale
and retail prices for their commod-
ity, to take effect June l. But later,
when the general movement for a
reduction of the high cost OF living
gained impetus, they withdrew the
order for a raise in the price, with
the statement that they were in
cooperation and accord with the
movement on the part of merchants
and the general public.
1T is not fact as frequently
maintained that production is far
below demand at the present time.
A few commodities are hard to
procure, but in general, the supply
is sufficient to supply the merchant
and the public, if the latter buy
senSbly as they are now doing. AL
though it is a fact that labor is
working fewer hours and less inten-
sively, the manufacturers are turn
ing out more in units than ever be-
fore because they have increased
their capacity.
! The drop in prices has come,
and it is permanent"
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
l. SIMON,
Simon and Landauer, Davenport:

There is nothing to justify the
present selling condition, except in
a few instances. as silks. where
the market is broken. Prices will
not drop but will be higher. We
will reach the peak of high prices
by fall. after which they may grad
ually begin to drop and will be
lower by spring.
THE volume OF sales has not
been generally as large as last
year. This condition is past. The
public has become educated to
careful buying. Sales locally have
been lower also because of the
backward season"
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
B. IRWIN HAYES,
Proprietor Of the Hates Clothes
ChNns

THE little furry that is being
experienced at the present time will
only react in the opposite manner.
I can see no likelihood Of Q de-
crease in prices for at least a year.
Fall goods have increased in whole
sale price Is per cent. Production
is at a low ebb and we are forced
to take what the manufacturers ap-
portion to us of their supply, which.
in most instances. Is less than so
per cent of what we order"
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
Funeral Of Lewis A. ManIore.

Funeral services for Lewis A.
Manlove, whose death occurred last
Sunday at st. Anthony's hospital,
were held at the Walter O'Malley
funeral parlors at 10 o'clock this
morning, with burial in Chippian-
mock cemetery.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
BERT NOLNSKY,

Il think the present scare exists
among the shoe dealers who have
loaded up heavily with stocks and
now realize that the peak in prices
has been reached. / don't look for
Q decrease soon, but neither do 7
expect an increase over present
shoe pricss.s
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
ANITA M. EVERS
TO GRADUATE
LINCOLN CLASS

In the list Of eighth grade grad
yates printed yesterday the name
OF Anita M. Evers, in the class at
the Lincoln school. was inadyer-
tently omitted.
The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1920-05-22
Briggs Infant,

Mr.. and Mrs. Guy Briggs of Milan
are mourning the loss of an infant
son who died this morning, four
hours after birth. The parents and
three sisters survive. Burial was
this afternoon at the New Windsor
cemetery.