PRICE CUTTING.

Taranaki Daily News, 22 May 1920, Page 5

PRICE CUTTING.

LONDON SLUMP COMING. EXTRAVAGANCE ENDING. By Telegraph.*—Press Assn.—Copjtfijht, - Received May 21, 7.35 p.m. London, May 20. London's post-war period of extravagant luxury buying and enormous profits shows signs of ending. The verge of the busiest season finds West End business men anxious to unload their heavy stocks, fearing the possibilities of an economy craze, and a consequent slump in buying. The increasing dearneas of money contributes to the downward pressure. Managers of hotels, restaurants, and shops indicate that high spending will soon be confined to the new rich. Modistes declare that women in the highest positions are cutting down their dress expenditure two-thirds.r-Aus.-N.Z. Cable Assn.

EASIER LIVING IN AMERICA,

SHAiRP FALL IN PRICES,

New York, May 20. American manufacturers, realising the seriousness of the retail price slamming, are now expressing willingness to co-operate with bankers to reduce the cost of living by 15 to 25 per centThey anticipate that the pre-war standard will never return and tlmt the cost of living will be half to threequarters more than before. The nowspapere to-day are crammed full of advertisements showing reductions varying from 20 to 75 per cent in clothing, etc. Exports fell off £135,000,000 in April compared with March, and imports dropped £30,000,000.—Au5.-N.Z. Cable Assn,