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Show CONSUMERS MUY FEEL PRICE CUT General Wholesale Declines May Yet Be Enjoyed by Public, Says Report j WASHINGTON. Oct. 1. (By I'hc Associated Pres-s. ) Price cutting has taken hold of the wholesale trade to an extent that soon must be felt Substantially Sub-stantially In lower price..; to consumers, consum-ers, according to the federal reserve hoard's monthly business review made public yesterday. Reviul of the wave of price reduction reduc-tion and Its spread to man reta'.l lines was a ttri butted to "a more ex-acting ex-acting demand by the buying publli ns to price und quality. ' Retail purchasers pur-chasers arc showing continued determination deter-mination to await a move by dealers to meet those demands while foregoing fore-going luxuries and seml-luxui ies. report- to the board declared TURNING TO OliO PATHS. Although I he board believed the buying was largely dominating the markel now, it. said that labor an I production were having a marked effect ef-fect on prices. There was much evidence, evi-dence, it said, of Increased efficient J on 'the part of labor and as a result; production was on the Increase and, factory operation -beginning to approach ap-proach normal Summed up, the board's findings v ere that "business conditions now arc definitely on the road toward sta-, bllity of a g"eat and confirmed a na-; ture as the disturbed position of the world at laige permits'' 'Continuance of the process of readjustment re-adjustment In business and Industry has been an outstanding features of the last month, " the review said Tim has been accompanied price! reductions and by the resumption ol ; work in branches of industry whore resltation us to future outlook has led to suspension. KM)l s CUTS I ED. After an apparent. slowing down In the price reduction movement during dur-ing mid-winter. It hos again reappeared reap-peared and the month of September saw substantial cuts in well known makes of automobiles, various classi of textiles, shoes and leather and other wholesale prices. Reductions have occurred In variety of Staples including j wheat Changes in prices have tended tend-ed to make business men and bankers cautious al out future commitments." Drops In price have featured al-j most all of the- textile lines, agents of the various reserve banks reported, I and they add' d that, die to redUi lion-already lion-already announced by wholesalers and jobbers, the retailers -n c buying care-' fully and not in large quantities. The j retailer's attitude was depicted as necessarily conservative for the rea eon a market with a downward trend1 leaves him the alien iJv - of making a I loss or keeping his shelves stocked with high priced goods Similar ln-J fluences were shown to be bearing on i the snoe and leatner Industry. In , these I. ties particularly., the reports of I the board disclosed, the Influence 01 a demand lessened by hiph prides i strong and (fives no Indication of I weakening Because of this apparent sentiment, the review stated) retailers; are postponing buying or are buying . only for current requirements. Bl lliDING M ! I Kl Al,. While housing conditions were represented rep-resented as being acute- in all com-, munltles, the board's figures held out! hope for an early renewal of con- 1 truction. Material prices show the, effect of price cutting In other commodities com-modities and ''certainty have passed, the peak." the review said ChiagO and environa have been most ravored with respect to price reductions In building materials and construi tion where, according to the board ie-ports. ie-ports. prices fell between l and M per cent during the iast thirty days. The feeling was said to prevail that price revision In this, like other Inns of trade, was duo to .spread. |