Price Advice

Is it time for businessmen to reduce prices? It certainly is, said Jay D. Runkle, chairman of the National Retail Dry Goods Association last week. At the National Marketing Conference in St. Louis, Runkle advised: prices should be reduced "item by item, bit by bit, whenever and wherever possible."

Would they be? He doubted it. Some textile manufacturers, said he, even plan higher prices for next fall while business is relatively slow at both wholesale and retail levels. "Manufacturers frankly admit in many cases that they are not going to reduce prices until they have to, and that they would rather curtail production if necessary to maintain the present high level of prices. There is little evidence that manufacturers are trying to reduce costs or prices. This is the stuff out of which booms and busts are made."

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