The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-06-12
IN PRICE REBOUND
Shoe Costs To Go Up Again
After Furry This Spring.
Tightening of Money Market
Cause of Sudden Drop.
DEMAND FOR HIGH GRADES
Consumers Not Asking for Low
er Priced Shoes.
Arthur Springer Explains the
Recent Uneasiness in q. 5.

Altho reports OF drops in wholesale
prices OF shoes have been reported.
there Is nothing TO warrant a belief
that shoe prices are 10 be any lower
this fall. according TO Arthur Springer.
of the Payne Shoe company and pres
ldeut OF the Kansas Shoe Retailers
association.
Springer points out that a demand
for high grade merchandise has re-
suited in many cases in an excess OF
low priced shoes. The failure OF COM
panies 10 make deliveries at the time
they were supposed to have been re-
ceived made II necessary for retailers
to refuse acceptance. This supply has
been put on the market at somewhat
reduced prices. causing the comment
presaginS a general reduction in
prices.
No Supply OF Leather.
In a discussion OF market conditions
for the lower grades of shoes a letter
received by Springer on May "a from
an eastern shoe manufacturer says:
Unless all kid manufacturers are
fabricators there is no supply OF first
grade feathers. altho it is true from
the fourth grade of colored calf and
down, and from about sixth to sew
enth grade OF kid and down, you can
buy some a lower price than here
tofore. But. We do not make shoes
OF this class and grade. Our custom
ers would not accept them and up to
this time every retailer has made de-
mand for the top grade of materials
because a. they informed US, the con-
sumers only wanted the best"
Regarding a possible change in the
demand Of the public for cheaper
grades Of shoes, this manufacturer
says: Now If the public has decided
to reverse purchases and buy cheap
grade Of shoes made out Of cheap ma
terial. that will be a question which
the future only can decide"
To illustrate the condition OF the
market 1t was pointed out "As far
rs the present prices OF leather is con-
cerned. there is no reason why reduced
prices should have been inaugurated
by the retail merchants. They could
not replace that very merchandise
today on the present prices prevailing
in the market OF feathers Of the first
grade"
Another dealer points out that
!. whatever the reason may have been
alr nationwide slashing Of prices in
recent sales. it was not due TO lower
manufacturing costs. Increased pro-
duction alone can reduce costs. the
manufacturer stated. and added that
re-ail selling must be governed by mi
tal costs,
Prices Up With Buying.
Inc forecast OF the future ne
summed up as follows: The present
forced liquidations will empty retail
ers' shelves before June is half over.
and the downward march OF prices
will be ended. When retailers turn
u buy again. prices will rebound like
a rubber band. and we will see the
same level of prices that we had three
weeks ago. and we shall see pre-war
prices only when labor is denied a
day and a halls pay for half days
work and when money rates decline
from s to "A rer cent"
The feeling is quite evident that II
the market is beginning to decline at
all. IL Will be gradual One manufac-
turer puts It: We do not think that
the retail trade should be disturbed
on any goods that have been ordered
for fall. because the adjustment must
Co're too slowly to affect values as
quickly"
Higher Wages, Fewer Hours.
The dealers quoted in the preceding
are makers OF mems and women's
shoes. Still another dealer is one OF
the largest manufacturers of men $
and boys shoes. Explanatory OF
costs he says: we have been COM
PEELED recently 20 advance our labor
costs and to reduce hours Of work.
which not only reduced OR produc-
ton but increases the cost OF same. -
Recently large sales, or clothing and
shoes have occurred in many parts OF
the United States. This latter man
ufacturer sizes up the situation as
follows: THE price cutting you refer
20 was started by a number of large
dealers who borrow money freely
from their banks in order TO do the
large volume of business which they
J ve. and this was brought on by a
stringency in the money market, and
these concerns were called upon to re-
duce the amount of their borrowed
money. and in order to do this they
put on special sales"