Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-10-02
PRICES ARE SLAsHED
IN FOREIGN MARKETS
European Centers luke Steps
to Coun,cract Effects Of
Now Tariff,
AMERICANS Arm uNp,srunnnn
Statements ~ Department Sturr
Heads Arr They intend 10 t;o
hight Ahead With Their Foreign
nuyfnR.

NEW YORK. Oct. 1.-The ur,,,
markets OF the world. where Amer
lea does It's foreign buying. today
were moving 10 countoract tho e.
tects OF the new United states tarln
by siashing prices.
cable adviccs from all Of the large
european ccntcrs indicated tho be-
ginning or supreme effort to hold
trade In this country, now threat
ehed by tho Increased cos, OF import
ing many lines Of merchandise pr!-
'a'e market reports In Sew York
confirmed these advices.
Price agreements already have
been suspended In some sections o.
the Belfast linen market. and Irish
exporters are lowering quotations on
certain goods in order to absorb
much Of the linen tariff themselves,
Berlin cables reported German
manufacturers Of goods designed FOR
American consumption as preparing
10 follow IN. advice OF the Fedora
ton Of German Industries 20 Gu,
pT!ceH 20 point enabling them Ia
slip under the United States tariff
wall. thereby preventing racur-
renee OF unemployment in Germany.
Rrndy To Pay Ncw Rates.
In the meantime. American do.
partmeut store heads were shedding
much of their fear for the future
OF business on imported articles
Statements hy officials % some OF
the largest retail distributing con-
Germs In the country indicated that
they intended TO 20 RICH; ahead with
foreign buying. One large house was
expecting the arrival soon Of a n..-
lion-dollar shipment from abroad
upon which IL was quite willing 10
pay tn" new tarlT ratcs
w r.. Muir. director Of Muir 4.
co London. an organization repre-
scnting American stores In the F.u-
tcpchn markets. said today tina,
prices in the principal English and
Continental markets soon would Do
adjusted TO take care OF tho tariff
Muir is at present In New York in
the interest Of his arm.
Not only his own organization. bu;
all other store representatives. in
London had no fear that American
purchasing abroad would decline
mcasurably. he said
Muir said ne intended To- make n
tour .: tn" country 20 interest Amer
lean retailers IN the foreign markets
ard would visit retail organization.
In tho Middle West. Yves, Coast and
- w west.
Few Price Advances So Far.
Very Jew advances Of wholesale
prices on Imported articles have been
made IN the New York markets SO
Ear. There have been isolated cases
H. which prices have been Increased
slightly on merchandise not in good
SUPPLY. but most imported goods. held
In large stock, are selling now on
the same basis they we're before the
tarin became effective.
Tn" only outstanding price adSance
!-oIn the standpoint OF the public has
been that announced by ultra fash
!cnahle mems ta!lors. In some cases
such firms. which use imported wool
ems a!nos, entirely. have made some
notable advance But the class o.
clothing affected IS not within the
range % the general public, or even
the moderately well to do.
one result o: the higher tariff may
be Il loss OF business TO importers
who resell in this country to the
retailers. & was suggested in the
market today. II was pointed gu;
that ;hc retailers could save much
Of tho increased cost ot imported
good BY buying direct in the foreign
markets, through buying Organlza-
turs, thereby saving tho price they
mus; pay for the Importers prof,
and overhead. which hovers around
20 PEE cent O. the foreign cost OF
the article.
a. lgon EaI-cbiij %.ue car,.r..>