The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-04-05
COMMIT TEES IN
REPORTS SHOW
COST INCREASE
Nine u II Groups Submit Rindingp
Upsn Ma1erial Prices; Living
Costs Long Statement

ives OF the VaTlOuS ORGANIZATIONS
Of the tri-cities assembled at $50
O'Clock this morning at the Harper
house TO hear reports Of the
price Investigation committees. The
report on rents raised heated de-
bate. The delegates also evidenced
surprise and disappointment when
Ernest Smith of the committee ON
hardware and electrical supplies
reported that lack Of cooperation
had prevented the committee from
obtaining any data. Instructions
we're given that the committee con-
tinue its efforts. ..
The Joint conference was opened
with Rev. r. W. Babcock, pastor OF
the First Baptist church, Moline. as
chairman, and Il. J. Burns, secre-
tary of the Quad City Builders ex-
change as secretary. J. Frank
Nebergall, general contractor, Dav-
EXPORT, who served as chairman at
the conference held March "a and
Is was in Des MONIES on business.
Charles Reagan, secretary OF the
continuation committee, which mad
charge of the directing of the work
of the investigation committee,
read the minutes Of the various
meetings of his committee and his
report incorporated announcement
of the committees decision to have
all committee reports submitted to
the conference without recommen-
dation for action from the continual
ton committee, leaving the findings
directly up to the conference.
Nine of the II investigating com
mittees submitted reports this
morning. One committee announced
failure to obtain data and the othel
two committees are to report this
afternoon. These are the commit.
tees on the cost Of living and on the
cost of plaster and cement. The
session was adjourned until 1:3(
o'clock when H. D. Smith an
nounced that the report on the cos
of living would take two hours. Bis
interest seemed to be manifested b!
the delegates relative to this report
and indications we're that there
would be a livening up Of the con
ference in its discussions this aft
ernoon.
Say Rents on Increase.
The report on rents was the onl.
one to come in for discussion from
the door. Claim was first mad
that too much attention had beel
paid to rents charged on unim
proved and poor grades Of house
which rent from IS to $l2 month
This contention brought fort
statements that higher price,
properties had also been investi
gated, and a declaration from M. L
Morrill,, who made the report, tina
instead of rents coming down Their
is a tendency toward increases an
he submitted letters with an aft
davit to this effect.
Mr.. Morrill, also declared that tn
committee had been handicappe
by reluctance on the part Of ten
ants TO divulge information, for tn
: alleged reason that they wer
afraid their landlords would hea
of il and either raise their rents @
order them out. This discussio
was taken up on the floor and ad
, ditional cases of rent gouging wer
, presented by various delegates an
, one claimed that real estate opera
tors had been responsible for
raise in rents when the owner
the property was reluctant to rails
the rent to his tenant.
Only in one instance was ther
claim made by committees Of price
!; being az low as present condition
! will permit. Declaration was mad
l that under present conditions brio
prices can not be lowered furthe
but that sand, gravel and stor
have not decrease at all.
y Prices of every commodity IL
vestigated showed from 100 to 81
3 per cent increase from 1914 to 1872
e but most all showed decreases
: the last few months.
s y Money Situation.
Q H. Geisler made the report fl
Q the finance committee. He sa
:. that four questions had been put
l the banks Of the tri-cities. tt
e questions we're:
Are you making any loans
on new construction work?
If not, why?..
!. Do you. expect to make such
! loans in the near future?
n What is the cause Of the
present money stringency?
In answer to the first questit
four banks replied yes, two replit
that a few loans are being mat
and five reported that 10 loans a
being made.
In answer to the second questit
] it was stated that closeness Of Il
! money market prevented. loan
that there was no application f,
loans on account Of prC>lecti
builders waiting for a reduction
= wage scales and building materi
y prices; and that deposits are n
r sufficiently high to warrant len
ing any considerable sums on CO
struction work.
= In answer to the third quest,
some banks reported that they e
+ pected to make loans in the ne
Il future. others that loans would
2 made If the best Of securities a
/ available. others that there wou
j. be loans as soon as deposits
e creased, others that loans will
r made on long time investments al
others that new construction wo
l. will be given preference.
+ In answer to the fourth questi
y it was claimed that the mon
n stringency is due to reaction fr1
o inflated prices, land imitation
shrinkage Of deposits and genel
= unsatisfactory, conditions in mon
y centers. Interest rates were quot
y from 81 to 2 per cent,
3 Railroads Hard Put
Ben Jacobson making the rept
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