White Pine news. [volume] (East Ely, Nev.) 1920-1923, 1920-11-21
PRICE REDUCTIONS
Of BENEFIT TO ELY

CONTINUED FROM PAGE oNE.)
now In a position to buy what they
need at The lowest market price. pass
ing IL on to the customer at the same
rate
Fred Hartley. manager J. c. Penney
Company: II see no cause for alarm.
but a dealer in order to protect his own
interests should use good Judgment in
buying from. now on. and buy only what
he needs to properly care for his trade.
BY doing this and taking what loss
may be actually necessary on what
stock he has on hand as any decline
comes he will not suffer seriously. The
consumer is justified in purchasing
right now because he can buy just as
cheaply today as market conditions will
permit him to do fer some time to come.
We have always aimed to buy at the
bottom market and have been in posi-
ton to do so. We keep in touch with
the market daily and will not at any
time carry goods on our shelves at an
inflated valuation. Just the ONE
there Is a reduction in any line we gov
crn our stock on hand accordingly. n
conservative merchant protects him
self against a declining market and In
eo'a - oRa' ~ lie 1uCtpIitIf
This method enables all TO keep even
and when he finally reaches the bottom
we will lind the drop has been SO grad
ual that no one has been hurt"
George Doyle. Lincoln Highway Ca
rage: II think the greatest loss the
merchants will suffer will be in the
volume of business. because people do
not buy or a declining market or
whom they think II L. INT 70 darltna
They hold OFF IS long as they can. feel
ing that the bottom has not yet been
reached. and they buy only what they
actually must have. This tends TO re-
duce sales with a corresponding reduc-
ton in prices. The Merchants must ex-
pect 10 lose some money. While the
markets Were advancing the average
merchant took advantage of those con-
ditions and sold stocks at advanced
prices, on which they made money.
Now some of the stocks purchased on
the high markets they still have on
hand and they must expect that as the
market tendency declines they will
have to come down in their prices.
The averag man has been looking for
this and has been guided accordingly.
He has worked his stock down as far
as possible consistent with good SER
vice TO the public. and any loss he may
now be compelled to take on what he
has on a NJ he should be protected
against by past profits, and this will
undoubtedly saw the conservative mer-
chant from financial disaster"
c. l.. Csteriund. Ely Motor Car Com
pany: IL do not believe that the local
merchants will be seriously affected. IL
he were overstoeked on a high market
the decline would naturally hurt him.
but IL Ii my impression that ne has pur-
chased c~onserxatively. so that what lit
tie stock he may have ON hand and may
be compelled to sell at cost or even a
little below will only tend TO ever up
when compared as against the profits
he made when the market was going
up"
A. J. Proctor. manager Graham Quail
ty Shop: The decline In prices has
not beer as extensive as the public
generally has been led 10 believe. The
slow decline which has so far taken
place we are in a position TO meet with
out subjecting ourselves to financial
embarrassment. The tendency IN
doubtedly IL downward. but the reduc-
tions which have been most noticeable
TO the public have been in cases where
the dealers carried large stocks and
most of these OF a nature on which IL
is hard to tx a price. as. for example.
ladies' gowns. Silks scared u1merci-
fully md when none was plentiful
they sold " ithout regard 10 cost. When
the banks commenced to cali loans
| mercha nts carrying such stocks were
obliged 10 get rid of them at almost
any price in order to raise money to
| meet pressing obligations and pnr-
chase stocks for the season following.
| Local merchants were not caught in
| thai net. We bought just TO meet the
| demands of our trade. and with IN
decline we have 10 face conditions.
| This season We have announced a re-
| duction in mems clothing. for example.
of from 10 to 20 per cent. but this Is
only following the policy or custom es-
tablished years ago when clearing up
our seasons goods. but which We were
obliged to discontinue for a few years
because the market was constantly ris-
Ing and we could not duplicate THAT
we had on hand for a far greater sum
than IL cost US. We have the matter
now so well in hand that we a give
the purchaser the advantage of any de-
cline and still weather the storm"
l.. II. Murdoch: Speaking OF the
business in which I am particularly In
terested-principally cigars ard tobacco
II fail TO see where any decline can
affect the retailer. Cigars now being
manufactured are from a tobacco stock
purchased on perhaps the highest mar
ket. For that reason I do not look for
any reduction until next spring. When
that time comes we will aim to have
our stocks in such condition that while
no doubt some goods will have to be
sold without profit to US. we will so
protect ourselves as not to suffer such
a loss as might seriously embarrass us"
+. f. Lewis. Ely Cash Grocery: Tho
| decline in the grocery market has been
so slight that IL Is scarcely noticeable.
I know the general impression is thai
the grocery market Is going TO pieces,
| but I cannot see II in that way. II is
true that flour has dropped 81 per hun
dred and sugar considerably more. The
drop In Z certainly is due only 10
- - oar - saaH-