THE OREGON DAILY JOURNAL, P ORTLAND. MONDAY, WAY 31, 1820.
.5
PRICE REDUCTIONS
MERE FLASHES IN
COMMERCIAL PLAN
(By t'nited Km.
Washington, May 31: Price re
ductions which occurred during the
month of May cannot be regarded as
indicating a modification of underly
ing conditions, the federal reserve
board stated today In its review of
business and financial conditions.
Thy may, however, afford a baala
for changes in business relationships
tnat may broaden into more xar-reacn-1ns
alterations of the essential price
structure. said the board.
A general reduction in 'prices has at
least been "suggested", as the board
views It.
"Local reductions in retail prices have
occurred at a considerable number of
points and have at leant suggested the
advent of a serKus modification of the
price level throughout the country." said
the review. "Mote careful analysis has
shown that there has been no material
laceration in the underlynlg conditions
affecting the situation, there being no
decided increase in the volume of pro
duction sufficient to create a more nor
mal relationship with consumption, no
substantial change in the volume of
credit extended, and no greater disposi
tion to economize and invest than here
tofore. "The changes that have taken place
eannot, therefore, be looked upon as in
dicating a modification of underlying
conditions.
FINANCIAL FCTUIIE DEPENDS
OS TIIIS SUMMER'S CROPS
By "Walter B. Browi
Editor of the New Tork CoramwciAl
Written for the TJnitl New
" New TofTc. May 31. Recovery In the
stock market evident during the greater
part of the week appears to have been
based upon natural reaction from the
depressing influences so long in control.
Now that definite steps have been taken
to correct the difficulties besetting the
orderly conduct of business Wall street
seems to have taken heart and crawled
-put from under its cloak of pessimism.
1 The mere fact that the country shows
ifJigns of understanding the seriousness
of the credit situation is sufficient to
, "give renewed confidence, while the fav
orable snowing or me iasi uho
ment. though not revealing all that could
be desired, nevertheless indicates that
tne efforts of those in control of our
financial affairs are beginning to be
felt. It does not follow that we are by
any means out of the woods so far as
our credit difficulties are concerned, but
it is a great deal to have laid out a
- program. '
BASKS FORCE BEDrCTIOXS
This readjustment of credit condi
tions is bound to have some rather dis
turbing effects from time to time. The
price cutting among retailers is an out
come of it, influenced also by a revolt
on the part of the public. Inventories
have been too large and the banks have
made It plain to such customers that
it would be far better to reduce1 them
rather than apply for renewals of loans
to carry them.
This class of borrowers also has real
ized the advantage or an arrange
ment of this character, as it was far
more profitable to turn excess merchan
dise into cash than to pay prevailing
rates for new loans. It hasj of course,
led to a great deal of hysterical price
isitting. resulting in stimulated con
sumption Instead of stimulated produc
tion, which is tne real remedy for the
trouble, lne outcome wiu naiuraiiy oe
depleted stocks from which will arise an
abnormal demand and higher prices
later, to be followed in turn by other
cuts with the probability that the gen
eral price curve will, show a wavering
line, but with "the general tendency
downward.
l AEJIEES WORBIED
One factor entering Into the situation
is the improvement in exchange follow
ing Imports of gold for British account
A shipment of $20,000,000 came in dur
ing the week via San Krancisco from
China which is in anticipation of the
payment of the nglo-French loan due
in the fa!L
Incidently the Argentine rate of ex
change has again become favorable to
shipment of gold to this country., but as
Argentina has already large gold credits
here. It was merely necessary to re
' lease some of it to accomplish the same
purpose.
Another effect of the high price of
money due to the credit strain is the
predicament in. which the 'farmers find
J themselves in attempting to finance
-uicir new cruya ui (imuiue live
stock, farm machinery and the like.
I1B0B HiHJ) TO SECURE
They have petitioned congress for an
.emergency fund of $40,000,000 for this
purpose to use as a revolving fund. If
it were only possible to move their re
maining crops this extra financing would
not be necessary and. In fact, a great
deal of the excess credit strain could
be averted, but with conditions' as they
are. prompt action Is necessary as the
season is getting late and the opportun
ity soon will be gone.
Farmers are also in a difficult situa
tion because of a shortage of farm labor, i
which has deserted the fields for higher;
wages in industry. Farmers complain
bitterly because of the competition of
automobile factories paying fancy wage
scales. In one respect it seems rather
inconsistent for the farmers to complain
as they themselves are the largest buy
ers of automobiles.
PROSPERITY AXD CROPS
The question of financing the new
crops "is of .course preliminary to pro
viding a .suitable amount of credit to
move the crops after they have been
raised, and although this is several
months away, preparations are already
being made to provide the necessary
funds. - .
Incidentally it is of considerable In
terest to note that the winter wheat
crop in the South west, is making a much
better showing than from earlier re
ports , seemed possible. Severe winer
conditions, usually have the effect of
forcing growth underground, so that the
strong roots thus developed are more
than likely to result in a heavy yield
per acre.
j The crop situation must be watched
from now on as any reduction in the
buying power of the agricultural com
munity would immediately react upon
industry and in turn upon the financial
situation. In fact, a crop failure would
in all probability bring on a period of
depression if not an actual panic
4532 More Persons
Moved to ort Born in
Atlantic City, N. J.
-Washington, May SL (U. P.) The
census bureau here announced the
following 1920 population figures :
- Atlantic City, -fi. J., ' 60.682; increase
since 19X0. 4532. or S.$ per cent
North Bergen towpship, N. J., 23.344;
Increase of 76S2, or 49 per cent.
C
otttoim sum
rn (res?, ."untm wn
dHerchkndisc cfcJ.Mcrit.Only"
Page 2 ; of the Greatest Value-Giving Event that the Month of June Has Ever Seen
The Most Exquisite Specimens of
Crepe de Chine and Satin .
Underwear
Sharply
Reduced
We Announce Our Own Direct Importation of
1.
Philipp
Judged From the Standpoint of Beauty
and of Values This Is One
. of the Greatest
ine Hand-Embroidered Underwear
The First Shipment That We Have Succeeded in Landing for Many
Months No Telling When There Will Be More atAnv Price!
PRESENT prices at wholesale are just about equal to the sale prices quoted for this King
Cotton event -but because of the. uncertainty of-shipping conditions and labor unrest in the
Orient, it may be a year before the receipt of our next consignment.
-All of which emphasizes the wonderful value which wc are offering in announcing
Super-Sales
A Special Price of $3.45
Envelope Chemise $0 .95
Greatly Reduced to
Crepe de chine envelope Chemise with lace and
insertion trimming's finished with ribbon straps. '
And a wonderful assortment of crepe
de chine envelope Chemise greatly re
duced to $3.95.
And still others a,e reduced to
$4.45 $5.45 $6.45 and Up
Crepe de Chine
Gowns
$95
Greatly
Reduced to
Splendidly tailored Night Gowns in two styles
flesh only. The savings- are extraordinary.
Another remarkable lot of crepe de
chine Gowns sharply reduced to $6.45.
Also big reductions on our entire stock of crepe
de chine and satin Bloomers, Drawers, Camisoles,
Pajamas and Petticoats. .
Fourth Floor, Lipman, Wolfe & Co.
For the Choice of This Entire Shipment of the Marvel
ously Hand Embroidered Underwear From the Philippines
Included are gowns and envelope chemise of fine lingerie cloth any garment
in the collection fit to grace the place of honor in the trousseau of the Junerbride..
Choice $3.45.
Philippine-Porto Rican Underwear
v Extra Special .
$3.95 and $4.95
-Two very extraordinary lots of exquisitely-embroidered
gowns and embroidered chemise. Priced for the King Cotton
Sale at S3.95 and J4.9S.
Fourth Floor, Lipman, Wolfe At Co.
Women's Spring Knit Underwear
ml
Surprisingly Low Priced
-Here is where King Cotton has worked wonders with a willing hand and the result is apparent in the
following extraordinary values: '
Women's White Cotton Union Suits $1.15
Low neck, sleeveless and bodice style top lace and tight and shell trimmed knee (The Globe) made
with flat IoclT seam which adds strength and comtort to the garment. All full size perfect fitting
V Regular Sizes $1.15, Extra Sizes $15
Elxtraordinary; and Very Timely
garments.
Women's Ribbed
Cotton Vests
50c
Women's Cotton
Union Suits
85c
Made of combed cotton yarns. Bodice top style,
neatly made and finished; full size, perfect fitting
garments of fine elastic rib. Splendid value 50c.
, All sizes.
Regular and extra sizes fine ribbed bodice top
and band top lace and tight knees full - size
shaped bodies, splendid quality. AH new stock
specially priced. Sizes 36 to 44.
Street Floor, Lipman, Wolfe & Co.
Boys!
Porosknit
Cotton Union
Suits 95c
low neck, sleeve
less and knee length
the original Chalm
ers make- every gar
ment cut full and per
fect fitting sizes 26
to 34 special price at
95 c.
Street Floor.
Sharp Reductions On All
Silk Goals
r
For Wee Girls
Special
The pettlest of little Coats of taffeta, in brown, green, rose
and blue. Some of pongee silk are also included. Sizes 3 to 6
years. . .' ,
All Coat and Hat Sets
Greatly Reduced
In Some Instances
Less Than. One-Third
: Original Price
Others Reduced to $15
Two models" of faille silk
one for tiny tots the others
for 3, 4 and 5-year-old little
girls. Coats in pretty shides
of rose, corn and China blue
choice -15i5.
Fourth Floor, Lipman, Wolfe & Co.
The House Dress Section Features
1182
Hous Dress Aprons
of Scout Percal
At a Phenomenally Low
Price Absolutely Dis
regarding, Present
Value or Orig
inal Cost,
Stamped Pillow Cases
$1.49 Pair
Of Continental tubing, 'cut and resewed on one side
due to an error on the part of the factory. Stamped
for scalloping and simple embroidery stitches. Very
remarkable value at $1.49 pair.
Pure Linen Luncheon
Cloths $4.45
Exceptional values in
stamped cloths made of
round - thread pure art
linezi medium weight.
Come in forty-five and
fifty-inch lengths. Choice
$4.45.
Pure Linen Pillow Slips
$1.45 Each
Made-up SlipsHrimmed with
linen cluny lace edging and
embroidery medallions size
ilxtS inches. Suitable for
boudoir and baby pillows.
Stamped Dresser
Scarfs Special
$1.00
White' linene Scarfs
20x54 inches, edged with
four-inch lace ends
stamped for embroidery.
Children's Stamped
Dresses Special
89c
A very attractive offering
in children's dresses of
Repp, Flaxon and Batilte in
one, three, five and seven
year sizes. Stamped for sim
ple embroidery stitches. Ex
tra special 89c.
- Fourth Floor, Lipman, Wolfe &. Qo.
.... - . .
Just when thousands are seeking gifts for new!y-weds and soon-to-be-weds comes the announcement
of this . . :
Very Unusual Sale Lot of
Beautiful Sheffield Holloware
At Approximately Today' Wholesale Prices ;
Lucky the June bride who receives several pieces of this splendid quality Sheffield Holloware. It is all
made on copper base in the most beautiful desfgns- plain polish and butler finishes.
- ; -- ' - ' ' i ' :-
The savings will be apparent to everyone. When this
lot !s exhausted, the opportunity tp buy such merchandise
at these prices will have passed and probably will not re
turn for years.
Double Vegetable Dishes... $17.65
Gravy Sets $11.85
. Open Vegetable Dishes ....$8.35
Fruit Dishes
13-inch Meat
15-inch
17-inch
19-inch
17-inch
well
Meat
Meat
Meat
Meat Platters
and tree . . .
Platters
Platters. .
Platters. .
Platters. .
19-inch Meat Platters
well and tree
11-ihch Chop Dishes,
Chop Dishes,
ll-inch
ered ,
18-inch
$11.35
$10.85
.$1X85
$18.15
. . . .$21.35
with
.-$24.85
with
. $30.35
-....$8.35
cov-
... .$16.85 '
$20.35
Fish Platters
6- in. Bread and Butter Plates $2.35
7- in. Breat and Butter Plates $2!95
Bread Trays with handles. . .$5.35
Sandwich Trays ......... .$7.85
Cheese and Cracker Dishes $10.15
Street Floor, Lipman, Wolfe ox Co.
Corsets of Standard Makes
U ' I
$155
In plain colors,: checks, stripes,
plaids : and figured effects, in
slip-on and button styles, ric rac
and plain; trimmings, -belts and
pockets. . -: :
Fourth Floor,
Upmu, Wolfe Sc. Co.
I
7 Dress Up the Home!
Make It Attractive With New
Lace Curtains
. Special $2.19 Pair
Nottingham -Curtains made with two-inch hems and neat
lace edging two and, one-quarter yards long.
Scrim and Marquisette Curtains .
Extra Special $2.89 Pair
An extreme saving Is involved here but the -entire lot
contains but two hundred pairs. Every pair hemstitched and
firmly made with neat lace edging. Choice of white or cream
- two and one-quarter yards long. ;
Voile, Filet Net and Mar
quisette Curtains, Pair
$4.95
An exceptional value while the lot of one hundred and
fiftv fiairs lasts. Fine amlitv vnil mnA fAr n.
firmly , made, with neat hemstitched and drawn-work effects
nu nee cuR.c ana wcr. rooms wnue or cream colors
and one-quarter to two and one-half yards in length.
Fiftk Floor, Lipman, Wolfe & Co.
-two
Extra Special
La Vida
Etoile de France
Dorine j -v--
THE greatest value-giving effort that th Corset De
partment puts forth during the year is for this King
Cotton Sale. ' 1 .
Therefore you may come with great expectations for
we are prepared with wonderful offerings, j
The above well known makes in brocades, fancy bat
iste, plain coutil, etc. Corsets for practically every fig
ure. All of them finished at top with' lace :or embroidery,
and there are all sizes from 20 to 30.
Fourth Floor, Lipman, Wolfe 8c Co,