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724 N. Brevard SU
Phone 3-440
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TAX CONSULTANTS
S15 East Trade
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PkM« 9147
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MIS
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CHIEF PALMER
Charlotte Fire Department
H. & T. DISTRIBUTING GO.
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HORNUNG AND BERGHOFF BEER
6. 6. RAY COMPANY
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ROOFING AND SHEET MBTAL CONTRACTORS
Plan To Cut Prices Given
Varied Support In Big Cities
Washington. D. C.—Econom'c
advisers to the Nation reported
that an initial survey revealed
the Newburyport. Mass., plan of
a 10 per cent across-the-board
slash in retail prices has been
receiving widely scattered sup
port.
On the other hand a more basic
and permanent price reduction
than provided in the Newbury
port plai* was urged by consum
ers and some business lenders in
New York, Washington and other
leading cities'.
Leon H. Keyse.’ing, vice’ chair
man of the Council of Economic
Advisers, said price cuts already
made on some items were "en
couraging” but did "not measure
up to what needs to be done.” He
spoke over the Columbia Broad
casting System.
As President Truman’s plans
for price cutting received some
industrial support, there appeared
to be no clearcut endorsement of
his appeal by leaders of some of
the Nation’s basic suppliers. In
fact, the General Electric Co.,
the Nation’s largest manufacturer
of electrical appliances and equip
ment, announced it would increase
prices an average of seven per
cent.
In Newbury port, where the an
ti-inflation experiment originated,
retail merchants reported sales
climbed 40 per cent above normal
Saturday, and attributed it to
shoppers flocking in from sur
rounding communities to take ad
vantage of lower costs.
The 10 per cent cuts originally
were scheduled to run for a brief
period in that city, but sponsors
of the idea considered indefinite
continuance.
Reports were received in Wash
ington and from almost every
section of the Nation that mer
chants were slashing prices and
instituting sales campaigns not
only in their own cities but
throughout surrounding areas.
Xhree retail chains cut prices
10 per cent on soaps and soap
products. In New York it was an
nounced that the Merchants As
sociation in the Jackson Heights
area had inaugurated a plan to
scale prices according to the na
ture of the products. Under this
plan food stores were making
smaller price reductions than
specialty shops and furniture
houses. Merchants participating
in this plan do an aggregate an
nual business of $100,000,000.
Meanwhile reports from some
of the key manufacturing indus
tries indicated sharp reductions
in wholesale prices oi key essen
tials. This extended over a wide
variety of items including cloth
ing, hardware and household
items.
At the same time merchants’
associations in many widely scat
tred areas throughout the Nation
were convening to approve reduc
tions in retail prices ranging in
some cases well above 10 per
cent.
Merchant* in Pottatown, Pa.,
in a special message, informed
President Truman that they would
cut-price* 20 to 50 per cent in a
one-day experiment, which might
be adopted for an entire month.
“Its reductions now or reces
sion later, and we cannot afford a
recession,” the PoitstoWn Cham
ber of Commerce wired Mr. Tru
man in a message explaining how
its members would act on his plea
for lower prices.
“Profit-sharing day,” is what
the Chamber is calling its ex
periment. Throughout the bor
ough the price-cutting dealers co
operating wifth the experiment
will keep their stores open from
morning ’til night to see how
their customers react.
In New England price cats
ranging from 10 to 15 per cent
were In effect or planned in
Brockton (63,000) and Fitchburg
(42.000) , Mass.; Nashua (33,000),
Manchester (82,000) and Dover
(16.000) , N. H., Springfield Vt.
(5000), and Old Town, Me. (7000).
In the Mattapaa section of Bos
ton the board of trade distributed
27,000 circulars in that area an
nouncing a 10 per cent price cut.
Merchants in the northwes^
section of Detroit cut prices 10
per cent except for items covered
by fair trades acts, and similar
action was taken in Otsego (3500)
and Hamtramck (50,000) on sug
gestion of the city councils. Other
isolated price cutting cases were
reported in Michigan.
In Chicago, two merchants
groups announced 10-day price
cuts. In Louisiana, the retail
merchants committee of the Aca
dia Parish Association of Com
merce called a meeting’ to discuss
adoption of the Newburyport plan
for Crowley (10,000).
The Idaho Falls, Idaho (18,
000), Chamber of Commerce said
70 per cent of the retailers to
the city were cutting all non
contract priced goods 10 per cent
for one week.
A Los Angeles city council ap
peal far support of the Newbury
port plan brought scattered in
stances of price cuts. The plan
also was being tried in Culyer
City (9000) and the Loe Angeles
suburbs of Palms, Mar Vista,
Sherman Oaks and Rodger Young
Village.
Price reduction* ilw were re
ported in a few store* in Mult
nomah, Orf.; Liberty, Mo.; Okla
homa City, Lawton and Guthrie,
Okie.; Virginia, Minn.; Pierre, S.
Dak.; Boulder and Trinidad,
Colo.; Cedar Rapid*. Ames and
Denison, Iowa; Clearwater, Fla.;
WickfOrd, R. 1.; Chester, Pa., and
Seattle. In some of these places
only one or two stores were in
volved.
HARRIMAN ASKS CONGRESS
NOT TO CUT TRADE PLAN
Washington, D. C. — Secretary
of Commerce W. Averill Harri
man warned Congress that any
modification of the reciprocal
trade treaty program would be
interpreted abroad as meaning the
United States is shirking its world
responsibilities.
Testfying before the House
Ways and Means Commttee at a
hearing on operation of trade
agreements, Mr. Harriman defend
ed the program as essential to an
expanded United States economy
and pointed out that Congress
has approved it four times in the
past
He told the committee that ac
tions of the United States had
given great encouragement to for
eign nations but that their peo
ples now are showing grave con
cern as to what this country may
do in the future.
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Schoenith, Inc.
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Manufacturers of
Fine Candies, ^Cookies
and Chewing Gum
2136 South Boulevard
Phone 3-4195
CHARLOTTE, N. C.
Hour SHOP
RKADY-TO-WEAR WOMEN’S SHOP
1*7 N. Try®n Ht
PhoiM 3-362*
W. J. EDWARDS & COMPMY
FOOD BROKERS
507 S*uU* College St.
•lfl
Charlotte, Pf. C.
ROBERT E. MASON & COMPMY
1726 Hutchiwa Avenue
PImm MM3
INDUSTRIAL EQUPMBfT
CLEVELAND GLEANERS
2
3209 N. CaMwell St,
Mian* 2-2413
C. W. 6ALUMT
CONTRACTOR
206 L*tta Area4«
Mime 3-MfS
CHARLOTTE DRUG COMPART
PRESCRIPTIONS, PATENT MEDICINES AND SEED
tM But TtmU Strut,
W. L JENKMS, CONTRACTOR
< •
Brick Mum, CmWto Contractor
Any Stylo Brick tai OaenU Work
JEffltiS, CONTRACTOR
325 TuekiMefe Road
Pham 2-MSS
HDRKEY BROS. NURSERIES, IRC.
I Darrin Road
Ph®a« 2-1989
MOSS TRUCKING, INC.
2815 WillcLuoo Bmiarard