U.S.A.'S SMOKES.

Shannon News, 29 October 1929, Page 2

U.S.A.'S SMOKES.

WAR ENDED. MAKERS INCREASE PRICES; (Sun Special). NEW YORK, Sunday. The cigarette war lias ended. The leading makers have advanced the wholesale price 40 cents (Is 8d) to six dollars 40 (£1 6s Sd) per thousand. A tierce battle for the control of foreign markets was heralded last year by the announcement of American price reductions.. Reports that the Imperial Tobacco Co. was planning a further invasion of the American iield caused the biggest American companies to pool their resources in an extensive retaliation campaign with eyes on the expansion of foreign markets. Within the United States, too, the price rvav was making itself felt, and it resulted in a cutting of nearly 2s*per 1000 off the retail prices of Lucky Strikes, .Camels, and Chesterfields. These reductions led to a severe flurry on Wall Street. In June this year the merger was announced of several firms, including the United Cigar Stores' and the Tobacco Products Company, in order to do away with disastrous competition.