The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1920-11-18
BOTTOM
PRICES WANTED
BY THE PUBLIC
BY JOHN ". HILL
Financial Editor Iron Trade
RAuIeCU-

All eyes in trade circles are
turned upon the retailer. The next
move in the procession toward
lower living costs is expected to
come from him. Producers and
wholesalers have cut prices and
taken losses. Now, they say, 1t is
up to the retailer to follow suit.
Sellers every week are becoming
more convinced that the Consum-
ers are in the saddle. RockbottOm
prices are demanded On Novem-
Der 1 Bradstreet's index number
was 70 per cent. above pre'war lev
els. Apparently this does not sat
isfy the public. 1t Is now giving
an amazing exhibition Of It's ability
to refrain from buying essentials
as we'll as luxuries.
Better Movement.
Some better movement Of sea.
sonal goods is reported, however.
This Is due to the colder weather
and to price concessions. In the
main, trade continues under the in
| fluence Of price uncertainty and
the deadlock between buyers and
sellers.
I Wheat for Export.
The swapping back Of wheat
prices within the last few days to
1916 levels has carried American
wheat below Canadian quotations.
This has revived buying here by
England. The visible supply OF
American wheat November l was
! 81, 100000 bushels less than last
year. The worlds visible supply
is 163, 100000 bushels less. Large
| crops in Argentina, Australia and
India, however, are expected 10 pro-
vide ample wheat for the world
next year.
Living Cost JoIts.
With flour nearly back to pre-
war levels, bread prices have begun
to tumble In some cities. In New
York a number of hotels have cut
food prices 10 per cent. A large
chain of restaurants has announced
reductions Of from 10 to Is per
cent. Many lines of fabrics and
clothing have registered sharp de-
clines within the last two weeks.
Blue Denim Down.
Blue denim leaped to fame last
spring with the overall parades.
Now it is in the van Of the low
price procession. Manufacturers
are Offering it at a price making
50 overalls at retail possible. Shirts
at 81 are another novelty promised.
Hosiery and underwear prices have
been cut from 25 to SO per cent.
Cheaper Suits.
Announcement Of cuts OF from
33 to 40 per cent. nave been an
nounced by 10 large Rochester, N:
Y, clothing makers. Large stocks'
of unsold and returned goods r
reported on hand. One manufac-
turer of clothes predicts next
springs prices will be within 25
per cent. OF pre-war levels.
Europe Buys Cotton.
Despite the adverse exchange
rates, latest export figures show
that Europe has been buying cot
ton freely. October exports were
the largest for the month since
1915. At the same time consump-
ton by American mills was the
smallest in October since the war
began.
Causes Of Declines.
Prices are falling because Of un'
derdemand and not overproduCtton.
Prices we're pushed 80 high during
initiation that buyers either Tebell-
ed or were unable to pay them. In
addition banking credit has been
temporarily exhausted. Money
rates are high and loan renewals
difficult. As a result business
houses have accommodations OF
goods. They must make conces-
sions to get cash and pay their
debts. Also, too much faith was
pinned in autumn trade prospects
and n post.election boom. It is
now realized that excessive prices
have gone not to return.
Production Costs.
Sellers have abandoned as USE
less the Observation-Disclosures ar
gument to keep up prices. Instead.
they are endeavoring to bring down
costs for 1921. Nc general reduc-
tion in wages have occurred. Chief
economies will be effected through
cheaper raw material and fuel and
increased efficiency Of labor.
Foreign Exchanges.
The decline Of foreign exchanges
continues to be a matter for con-
Germ In the country. From Argen-
tina, Brazil and other South Amerl'
can countries, American exporters
are receiving returned goods and
unpaid drafts . The European sit
uation also continues grave. In
Cuba financial conditions are grow
ing more involved as sugar prices
continue to decline.