Every evening, Wilmington daily commercial., 1920-09-25
DROP IN PRICES
OR UNEMPLOYMENT
Mail Order House Head Says Buy
ing Must be Stimulated
to Normal.

thelcss II may be that we may be COM
PEELED To go through period OF read
justmsnt which will mean losses on ac-
cumulated stocks of merchandise and
more or less loss CT time for the work
ing classes SAID julius Rosenwald,
president of the great mail order house
~ Sears. Rocbuck & Co, discussing yes
teriay the significance of the announced
reduction in prices of various staple
articles Of merchandise dealt In by his
and kindred establishments.
Mr.. Roscnwald for the first time dis
closed the character of some of the
articles ON which Sears, Roebuck x Co.
have made price recessions. At the
same time he stated that from variety
oi causes sales have declined during the
last few months. with consequent ac-
emulation Of stocks MANY of these
: lines" said MIR Roscnwald, "can be re-
placed today at much lower prices.
Therefore, We have made drastic reduc-
tions IN the price of a number of articles
of which the following are examples:
STANDARD percalc, which was 40 cents
ward, we are now offering at 10 cents;
silk taffeta, which was S257 "A yard, rs
now 81 as; Shooting 27 cents, now Is;
muslin, IS cents, now Is; flannel, 43
cents, now DO gingham 80 cents, now
23; ovcralls. formerly priced at $3.50,
are now las, womens shoes, which
were 81 oS, are now S39S Ford sise
automobile tires, were slS10, are now
priced AZ S1345.
The Chicago grain markets again re-
corded declines and accompanying this
movement came lower prices IN flour
and provisions.
Flour dropped 35 cents per barrel for
the best Spring wheat grades from the
"A -. "A Of
per barrel from the top war price of
MAY, 1917. Wheat values were z cents
lower for cash for the day, while futures
dropped IL cents, rs a result of the lack
Of confidence IN values and Sc ling created
bv the demlines of late in automobiles and
of 30 To 80 per cent IN many commodities.
Corn meal dropped a cent per pound,
following corn, which declined cents In
the cash market, and sold the lowest
since June, 1917, when % cents was the
inside for the December delivery, which
means new crop grain. Oats that sold
at record levels Of 81 20 in July last were
90 60 cents from the recent top, or over
so per cent, while rye was off % cents from
the war level in 1917.
Mess pork and all hog products have
been lower than at present, but yesterday
prices were over $50 per barrel below
of over Is cents per pound. Short ribs
sides, which are used as rough bacon by
many consumers, are IL cents lower.
Hogs show practically So, cattle $3.50 and
lambs a loss Of $40.
Reviews OF business conditions also
carried comment on the slowing down of
industry and the consequent de cline In
commodities.
There have been distinct signs of
slowing down in a number of industries,
particularly IN the automobile industry,
the monthly report of the Chicago Fed
cral Reserve Bank says.
Another direction I'M which the easing
Is noted is in the building trades. This
has been partIcularly-benefeial in that
Il has caused a decline IN prices of build
ine materials and also indirectly caused
greater efficiency Of workers 1t Is variously
estimated that the net costs IN building
are Us 10 20 per cent lower than month
ago.
The price az wool has declined 25 TO
30 per cent from May l. Hides and skins
arr lower in prlce.
New York, Sept. 25.-1nquiries at q
number Of corporations domiciled here
showed Yesterday that the reduction OF
prices in MANY directions has not resulted
IN a material growth Of unemployment.
The steel industry has been busy all
through the summer and autumn, and SO
u j. not surprising TO find that the Steel
Corporation, representative of the trade
a. 3 whole, has as large forces at work as
can bc got together at the various plants.
The cOrporation normally employs be-
tween 250,Oo0 and 275,000 skilled and
aay labor Al It's mills and mines. While
the recent epidemic Of railroad strikes
forced curiailrnent of operations at some
steel centres, letting men out OF their jobs
temporarily, this condition has changed
for the better and full employment Is re-
ported general.
The Barrett Company, which makes
roofing and road materials and chemicals
NJ A. plants in many parts OF the country,
employs about 5000 men and full forces
are working, II was learned. The Amerl-
can Can Company has passed through the
busiest months Of its years activities,
which end with the canning season, and
because Of tins, II was said al the com
panys Office, there has been some re-
duction OF pay rolls at several OF It's As
plants.
The American Locomotive Company al
It's -four plants IN the United States and
one IN Canada Is working with full
schedule OF men and efforts are being
made 20 keep organizations at maximum
efficiency. Tins concern, with other manu-
facturers OF railroad equipment, is pre-
parinr for a substantial inflow of orders |
for cars and locomotives In the next few |
months.
Price cuts IN a number of lines of mer-
chandise were announced yesterday by |
Nanamaker's through Joseph IL. Appel, |
advertising manager Mr.. Appel said that |
reductions had been made In many lines, |
the principal decreases being in women's |
clothing, shoes, mems furnishings and |
hosiery.
Elkhart, Ind, Sept. 25.-Announce- |
ment was made yesterday by the Crow /
Ilkhart Motor Corporation that the /
prices Of all models of its output had |
been reduced 20 pre-war figures. The |
action was taken, IL was stated, because /
oi general conditions in the industry. /
New York, Sept. 25.-There is coming |
e. bc "A more general recognition Of the /
fact that a commercial revival awaits /
lower prices, according TO the weekly |
review of business conditions issued by |
X. g.. Dun a Co. Curtailed demand, 1t is
asserted, has. weakened the position of /
many sellers and downward revision of |
prices ~ IN order. In discussing condition,
the publication SAYS:
The reluctance Of some interests TO oper-
ate ON closer margin of profit after the