Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-10-01
PUBLIC TO BENEFIT !
|BYPR|CE CUT SOON
Federal Reserve Board Credits
Reductions to insistence
of Consumers
GOODS CHEAPER
BY the Associated Press

washington, ,oct. 1.--price , cut
Ping has taken hold of the wholesale
rade to an extent that soon must be
elt substantially in lower prices to con
'umers, according to the Federal Re.
2erve Boards monthly business review
made public last night.
revival of the wave of price reduc.
pom and its spread to many retail lines
as attributed to "a more exacting de. .
nand BY the buying public as to price
no quality Retail, purchasers are
howing continued determination to
hwait n move by dealers to meet those
demands while foregoing ,uxuries and
semiluxurics, reports to the board de.
clared.
although the board believed the buy :
ing pubic was largely dominating the
market now. IL said labor and produc.
fion were having a marked effect on
prices. There was much evidence. Il
paid. OF increased efficiency on the part
pf labor and as a result production was
on the increase and factory operation
Z" normal.
Business on Road TO Stability
Sumlned up. the boards findings
were that business conditions are now
defnitely on the road toward stability
of as great and confirmed n nature as
large permits. -. -
III Continuance Of the process of re =.
adjustment in business and industry has
been nm outstanding feature of the last
month"; the review said This has
been accompanied by price reductions
and by the resumption of work In
branches Of industry where hesitation
Pc to future outlook has led to suspen !.
sion
After an apparent slowing down in
the. price. reduction movement during
midsummer, IL has again rcappeared,
and the month Of September saw sub.
stantial cuts in we'll known makes OF
automobiles. various classes Of textiles,
shoes and leather and other wholesale
Sprices. Reductions have occurred in n
variety Of staples including wheat.
tChanges in prices have tended to make
business men and bankers cautious
bbout future commitments.
Retailers Buying Carefully
Drops In prices have featured almost
1u]l of the textile lines, agents of the
Ivarious reserve banks reported. and
|they added that. due to reductions
already announced by wholesalers and
jobbers, the retailers are buying care :
tnily and not in la:gc quantities. The
fetnilers' attitude was depicted as nee
karily conservative for the reason a
arket with u downward trend leaves
lin the alternative of taking a loss or
N,c,,tpo his ShplypS Stprkpb with bi1l .
6ricef goods.
L4 Similar influences were shown to be
Nearing on the shoe and leather in :
Rfustry. In these lines particularly, the
Efeports Of tho board disclosed. the in
kf]uence of II demand lcssen"d by high
Hprices is strong and gives no indication
of weakening. Because of this apparcu,
{sentiment. the review stated. retailers
[are postponing buying or are buying
fonlyi for current requirements. r.. .,
Cleveland. Oct. 1.-The Clcvelan,
1Worsted Mills Go. announces n price
reduction of from u to 30 per cent OF
hoods being manufactured for the trad
hnd which will reach the consumer II
The spring. The lower cost of raw ma
kerials is assigned as the cause for th
lower 7rices.
The Root & Mcbride Co. one of th
largest wholesale dry goods houses o
1.-THE middle West has put out new
Iprice list with reductions Of 20 to .
Iper cent. with an announcement tha
Ithe action has been taken to stimulate
Dtrade.
Manufacturers OF wearing apparc
hn this district have given indication o
Hover prices on merchapdise for sprin
land summer seasons the coming year.
New York. Oct. 1.-The America
Smelling and Refining Co. yesterda
reduced the price of lead from eight t
vseven and three quarter cents pound
The Hare's Motors. Inc, Oprratin
Icompany for the Locomobile and Mcr
Icer concerns. announced today the priC
Iof standard Locomobile ears had bee
reduced $3.50 and Mercer mode
$4,000.
The reduction is due to 'our belle
THAT the spirit Of the times demands
reduction in prices so that the pur
Ichasing value of the dollar may be in
creased to point where there is sui
fcient buying power to properly iinan,
the business needs of the country Il
announcement said.