THE COST OF LIVING

Waikato Times, Volume 92, Issue 14368, 21 May 1920, Page 5

THE COST OF LIVING

i WAVE OF PRICE-SLASHING. 'HEAVY REDUCTIONS IN CLOTHING. STOCKS AND BONDS AFFECTED. (Australian and N.Z. Cable Assn.) ' (Received May 20, 11.30 p.m.) NEW YORK, May 20. A wave of price-slashing is sweeping over Hie country, the reductions being chiefly in men's and women's wearing .apparel. .Many other manufacturers will follow suit. The banks notify that makers of nonessentials will receive only very limited financial accommodation. Stocks and bonds on the commodity markets are highly nervous and have sagged, and there has been heavy Victory bond liquidation. Wholesale merchants assert that the move cannot be maintained. AMERICANS LOWER PRICES. ARID THEY PERMANENT? ~ (Australian and N.Z. Cable Assn.) (Received May 20, 5.5 p.m.) NEW YORK, May 10. In connection with the reduction '<n prices, the newspapers are filled' with advertisements of special sales. Tho ~; reasons'given are that in the late spring season the public are doing little purchasing, leaving the merchants stocked up, and the tight condition of tha money market, Whether lower prices « have arrived permanently is questionable. A leading Chicago merchant states that the reductions are intended to satisfy the hystercal public demand for lower prices. There has been a general decline in stocks in. Wall 'Street with further extensive selling of. Liberty bonds at tow levels. The sales before noon approximate £4,000,000 at par. » WASHINGTON, May 19. Governor Harding, of the Federal Reserve Bank Board, recommends all banks to liquify all credit extensions, which are permitting large stocks of mcrcliaiidiso to be held for speculative purposes. Congressional action is ex. pecteel with the view of drivmg 'food.stuffs from storage. ___^ —-<- " HO WTO REDUOE PRICES. ■ ', i ,i PRODUCTION THE SOLtXITON. X. (Australian*-and N.Z. Gable Assn.J)'f; (Received May 20, !).5 p.m.) SYDNEY, May 20. General Booth was entertained by ' the Millions Club. Dealing with the problem of the high cost of living, ■he. urged that increased wages were not benefiting the workers. There should be some combination between workers and employers to solve this problem of the cost of living, for he believed it could be solved by production.