New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-09-10
Sharp Reduction i'm Prices
Stimulates Inquiry and
Promises Busy Season;
Stability Seen by Wood

Encouraging signs of early trade re-
covery were seen in the excellent buy
ing Of goods for spring delivery at the
opening of the American Wooden Com
pany here yesterday. Sharp reductions
IN prices from those quoted for fall
delivery brought out throngs Of buy
to lead officials of the company to be-
llcve that orders would be obtained to
keep the mills in full operation
throughout the winter
Trade leaders were fully satisfied
with the 25 per cent decline in prices,
as predicted in this column yesterday,
and were confident that the quotations
Of the American company would go
long ways toward establishing
prices for cloths and stabilizing
the entire textile industry. While
prices in some lines were not as low
as some manufacturers had wished,
were considerably below the average
prediction and came as q surprise to
those who thought that the American
company would attempt to continue
high prices.
Wooden goods were quoted at a de-
cline Of rs per cent or more from fall
prices, inasmuch as this branch of the
industry has suffered more from mar
ket weakness than worsteds, which av-
eraged about % per cent lower. Style
No. 1892. q serge. which is taken for
price comparison throughout the trade,
opened at $3.62h, as against $3.50 for
this fall, decline of about 20 per
cent.
In explanation Of the rather surpris-
ing drop, M. W. Wood, president of the
American, said: I'VE are going after
orders to fill our mills. 1t is time
business started up.
1--WE are not yet wearing paper
clothes in this country-we are going
to attract buyers for wooden goods In
a woodworking country. The way to
start the market is to slash prices. No
one can ask for lower prices than we
have named
"These are attractive prices and so
can be named. We have got to make
prices such that our distributors can
Do business with confidence"
While the trade appeared satisfied
Hitn ne American comDany's new quo
tatjons. buying for the most part was
conservative and all indications point
cd to the fact that wholesale manufac-
turers still were showing a good deal
Of caution. 1t was believed, however,
that the total volume of business
would be entirely satisfactory to the
company and some departments as
serted that orders were more liberal
than they expected.
Women's dress goods, for instance,
were IN good demand and the staPles
department reported encouraging bust
ness, as we'll as an unusual number of
inquiries under the circumstances.
Fancie5 were not entirely neglected
and, in view Of the conservative elc-
ment in the market for goods, the bust
ness done was cons dercd a good omen
for the future. Other departme nts re-
ported business in excess of some of
the conservative predictions.
In fact, those who felt that the open
ing should have been delayed for an
other month, in the hope that condi-
tlons would then be more favorable
We're surprised at the inquiry shown
by buyers. While they still contcnded
as much business month later, and
would have been in a position to put
mills on longer time, they were not SC
pessmistic Of the future as they were
before the opening.
1T was pointed out by some in the
trade that the jobbers will not be COM
PEELED to make any revisons in their
established prices, as the new ones
are not low enough to cause any of
them losses. In fact, it was said that
in some numbers the second hands
may be enabled to increase their prices
somewhat, as they have been selling
under the new mill quotations.
With the opening for spring lines in
full swing under encouraging outlook,
the American company is now, or soon
will be, turning its attention to the
opening of fail lines next winter 1t is
believed that this opening will be held
on sch edule time in January if condi-
tons in the trade continue to improve
as they have for the last few weeks
The opening last year was delayed un-
til February, because of the dscour-
aging labor outlook.