Evening star. [volume] (Washington, D.C.) 1854-1972, 1923-06-23
more TIRE FIRMS
MAY CUT PRICES
Expected to Meet Latest Re-
auctions, But Possible Trade
War Is Doubted.
BY ]. C. ROYLE.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, June 23.-Announce-
ment that the Goodyear Tire and
Rubber Company. one of the largest
factors in the tire industry. has made
reductions to meet competitive prices
is expected to bring all the other tire
producers who have not taken like
steps out into the open with similar
announcements. The Goodyear cut, as
Il protection to dealers, is made re-
4 troactive to June II.
Rumors have been rife in the tire
industry that many makers who had
not formally reduced prices had been
ahading list quotations. but the Fire
stone, Miller, Mason, General and
other tire companies, have made FOR
NAL reductions. The movement is not
present. according to some tire com.
pany executives. They declare that
the volume Of sales today would NOT
support war, and reports from
Akron and some other centers lhol
cate that production has been cut
since the lower prices were an
nounced intead of increased. The out
pot 5000 Ct 56e ca Akass pe day no" Is GOWN
On the other hand, some Penn
sylvania manufacturers stated TO-DAY
that the volume of business since the
cut was announced was enormous
sales running SO to 100 per cent above
last seasons records. Competitors
emphatically deny this. pointing out
that the majority of dealers were
stocked up for six to eight weeks IN
advance and that there has not peeh
time even for extraordinary sales TO
be reflected in factory demand. Some
of the largest makers asserted that
there was no big business reported
anywhere and that sales were not
above seasonal expectations.
Shoe Business Prospering.
Shoe manufacturers are working at
top speed in practically every sec
ton Of the country except New Eng
land. Distribution Is proceeding ap-
parently without regard to territorial
advantages. The Endicott-Johnson
Company. with factories IN New york
state, have shipped $4,000 pairs of
shoes to the st. Louis section In the
east ten days. st. Louis, one OF the
largest shore centers, is shipping to
New England, where the factories at
Lynn and other cities are turning out
shoes by the thousand.
John L. Norvell, shoe manufacturer
of Huntington, w. Va, and president
Of the National Association Of Credit
Men, stated that the wise business
mans policy today was full speed
ahead"
. Commodity prices have been fairly
well stabilized at present levels" he
said. There has been no appreciate
ton. Chedit conditions reflect con-
fidence. With freer interchange OF
ledger information through a central
bureau and with more frequent re-
course to friendly liquidation. instead
of bankruptcy proceedings, still bet
ter conditions should prevail"
Shoe sales are expected to be Id
per cent above 1922 for the, current
year. In spite Of this fact however.
hide prices are showing a softening
tendency, due to large production in
South America and increased cattle
receipts at American stockyards
Non-Ferrous Metals Weak.
The lead and zinc markets have
shown a weaker tone in the last few
days. The American Smelling and
y refining Compapy's reduction in the
price of lead from TX TO 4 cents is
taken as rejecting the increased i'm
ports OF that metal from Mexico,
while the weakness in zinc is due
TO the sharp increase in Production
and failure of producers to sell heavy
stocks on hand. Copper production
is increasing steadily and the market
is quiet, but the known requirements
of both domestic and foreign con-
sumers are having staoiliz:nS
tendency on prices.
Wooden Mills Well Engaged.
Wooden mills are working at sat-
isfactory rate, but buying of raw
wool on the western ranges has
slackened perceptibly. Buyers were
rot permitted by their principals to
go above a certain figure, which
growers declined to accept. AS a
result many of the field men have
been recalled and the growers are
storing their wool or preparing to
ship on consignment.
Overproduction OF crude oil still is
unchecked and is straining even the
greatly expanded storage facilities in
practically every field.