The daily Gate City and constitution-Democrat. (Keokuk, Iowa) 1916-1922, 1920-05-19
Only on overstoeked Goods.

passed.
: Only on Overstocked Goods.
LINCOLN, Nebr., May 19.-Although
, practically all leading department
stores here are offering some lines of
goods at cut prices, merchants declare
permanent reductions are not yet in
sight Sales on overstocked articles
due to a backward season are quite
general. Mechants unanimously agree
general retail prices cannot drop until
reductions are quoted by wholesalers.
which they claim have not yet mate
ialized
J. z. Miller, mayor of Lincoln, and
head of a large department store, de-
clared the present agitation if con-
tinued Will smash the small retailers.
There can be no reduction of retail
prices until the primary market falls"
he said. 1T takes brave man to
predict what will happen"
| Dull Buying.
NEW YORK, May 19.-The drop in
prices was attributed to dull bug
ing" by Joseph Appel. of Wanamak-
ers, the first store here to announce
drastic price cut
When buying is dull there is GER
/ tain to be surplus of materials and
/ a surplus OF materials is certain to
make for a reduction in prices" he
said.
/ Garments manufacturers agreed
with this statement, saying that L.
survey of the garment market would
show only minimum purchases.
/ The cloth market in New York re-
ported trading exceptionally quiet
The slump has not hit the food
market yet, according to statements
OF grocers today, but they indicated
that they expected slight decline.
Il think it is not unsafe to predict
that this is shown by the way thu
public has stopped buying in the mer-
camille line At least there has come
an end of the upward movement
swing when everybody tried to Guido
his neighbor IN extravaganza
THE action of the federal reserve
board in raising discount prices has
had an effect There is also some
Indication that speculation is being
discoura ged This should leave more
cash and credit for the man engaged
in legitimate enterprise
The nation wide railroad congestion
rs the most important factor in the
price situation in the opinion of many
government officials. 1t is causing
shortage Of commodities in some dis
tricts and an over-supply in others
There are indications that the
housing situation is returning TO
sound basis, according to reports
here.
Important developments IN connec-
ton with the price situation were ex'
pected to come today from the meet
rs n.
ference with julius H. Barnes, head
OF the United States grain corpora
ton. They were to discuss extension
of the government wheat price guar
.antee beyond June I, when it expires
and the present law.
Factories overstocked.
ST. PAUL, MINI, May 19.-Locai
merchants say price cutting here is
caused by manufacturers becoming
ioyerstocked and unable to move their
products because Of the tangled rail-
road situatio A big millinery estao-
ilishmeat here placed more than mil
lion dollars worth of women's hats
and trimmings On sale today at a
thirty percent reduction
Refusal Of People to Buy.
SPRINGFIELD, H., May 1s.-Re-
fusal Of the people to buy anything
except what they absolutely must
have, eventually will force down
prices, IN the opinion of local me1-
chants today.
The failure to buy at existing
prices has forced some dealers here
to cut the estimates Of their depar--
ment heads fifty percent.
Detroit Stands Pat.
DETROIT, Mich, May 19.-Detroit
merchants stood pat today in the face
OF reported price reductions in other
sections.
The manager of one large depart
ment store here, said the eastern
.gtores were cutting prices because
raey were o~erstocked."
May Cut Bread Price.
MILWAUKEE,, Wis, May 19.-Nil-
'waukee has started war on the high
cost of living
Large department stores have cut
prices twenty-five percent. Now
local bakers have banded together to
devise ways Of cutting bread and
pastry prices
OUTLAW SWJTCHMEN