The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-09-28
General Reductions on Building
Materials Announced.
Can Be SIashed so Per Cent,
Say Authorities.
ALL PRICES ARE FALLING
More Motor Cars Cut Quotations
to the Public.
Hotel and Restaurant Men Ar
range to Join In.

VIII OWuS d nuHnDer OF apartment
buildings today announced a ten per
cent reduction in all rents effective
October l and stated that similar
reduction will be made next May.
I'VE are following in the footsteps
of the manufacturers in the country
who have inaugurated a decline in
prices" Mr.. Greenberg's announce
mont states.
Washington. Sept. 2s.-Prices of
building materials now going down
side by side with food and clothing
prices can weather a so per cent slash
without touching bottom. reports to
the labor department showed today.
A SO per cent reduction would leave
dealers in building materials l7S per
cent ahead of the game as they played
1t in pre-war days, the departments
records indicated.
Lower Rents Sure.
Cuts in building material prices will
go far toward solving the entire prob
lem of living costs, officials said today.
Reductions that are permanent will
bring a rush of construction work
early in the spring. relieving the house
| shortage. The country now is five
II.
cording to officials of the United
States Housing corporation.
An increase in construction work
means lower rents. To the average
food, clothing and recreation, cash
, which will go directly into the pockets
Of merchants. To the merchants in
creased construction also means lower
operation costs.
Arc Failing Rapidly.
Chicago, Sept. 2S.-Further steps to
! reduce prices were expected here to-
day.
Hotel men were to meet to consider
reduction in cost of eating. Russell
Poole. directing the city's fight to
lower prices, was prepared to point
out to the hotel men alleged discrep-
ancies between the cost and selling
prices of food listed on their menus.
Il think we will have no trouble
showing that SO cents is too much TO
charge for 1 cents worth of tomatoes
and that so cents is more than cents
! of corn on the cob is WORTH" said
Poole.
Food prices continued to tumble in
the middle west today.
Potatoes were selling at $3.50 to 81
a hundred pounds wholesale. Peaches.
tomatoes and fruits were quoted at
close to pre-war prices.
Another Auto Cut.
The Studebaker corporation an
nounced a reduction of from 1925 to
5000 in the prices of its cars. The
Stewart Motor company reduced the
prices on motor trucks Is to 25 per
cent.
. The city of Chicago's venture as a
merchant was to be given a tryout to-
: day or tomorrow. Seven lake steam
ers sent to Michigan to take on fruit
were due to arrive today. The city
intends to sell the fruit at cost.
To speed up building and relieve the
! housing shortage. delegates to the Ma
tional Building and Construction con-
gress here decided to meet again in
January to consider the methods of
| concentration in building. steering
committee of six was appointed to
unite all elements in the building line
so a national building program may be
! worked out in harmony.
| One OF the largest manufacturers of
mems collars in the middle west today
! announced a 12A per cent reduction
in the price of collars.
Building Boom On.
New York. Sept. 2s.-The nation
wide housing shortage. expected to
reach crisis October 1. will soon be
relieved thru the present price reduc-
tions in building materials, in the opin-
ion OF Edward P. Doyle, manager OF
the information bureau of the real
estate board of New York.
Doyle forecast a boom in dwelling
muse DuilulIB He
building program. he said, will be so
| extensive the apartment congestion
probably will be practically obviated
within five months
/ According to Doyle. increased build
ing will tend to bring about lower
rents under the economic law of sup
ply and demand
Another way the reduced cost OF
materials will affect the housing situa-
tion will be to make loans or mort
MI Tlr@vr1 lie
said Banking concerns have not
been inclined to loan the full value
on contemplated apartment houses for
the reason that with a later fall in the
price of materials. the buildings will
represent much less value than the
actual inveetTl1e ent''