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EVENING' PtJBLIO LEDGER-PHILADELPHIA, THURSDAY, OCTOBER 0, ' 1919
' . . , rL . .
VP
e
III
!IH
PROSPERITY-KING
U. of P. Economist Says- Read
justment in Rate of Exchange
Only Can Remedy Condition
FOOD. PRICE DECLINE SOON
Food Prices Likely to Drop,
But Clothing May Go Up
Food prices nro now nt their high
est level nncl from now on, a decline
may bo looked for.
Indications nro that more ad
vances nro In order in the prices o
shoes and clothing:
Tho price of building materials is
booked to contlnuo high for nt least
another year.
Persistent attacks on profiteers
will result in liquidation of vast
stocks of food and consequent bank
ruptcies. Better standards of living aro not
possible unless there shall be a
greater production of necessities.
The country la sick with prosperity.
Dr. Clyde Ii. King, 6 the University
of Pennsylvania, noted economist and
government adviser on economic prob
lems, makes this diagnosis of the high
cost of living.
In an interview Doctor King pointed
out that:
Tho United States is tho creditor
nation of tho -aorld, yet cannot com
pete in world trade with Germany.
Forced liquidation lit a low price of
vast Btocks of food in storage is likely
tn rrmilt In wlilpjmrpnd hnnkruntey.
Food costs probably have reached
their peak, and from now on n down
ward trend may be locked for.
Shoes and clothing aro likely to be
dearer rather than cheaper this winter.
Building materials are duo to stay up
in price for perhaups another year.
There cannot be a thorough read
justment downward here until normal
conditions are restored abroad.
Approves National Defense Ittport
D&Jor King thoroughly npproves the
rcporHon the high cost of living issued
recently by the United States Council
of National Defense, over the signatures
of Secretary of Wnr Baker, chairman
of the council, and other members of
tho cabinet.
In brief, the report advised the people
of America to vtork, save, co-operate
and produce.
"Better standards of living," states
the report, "ore impossible without the
production of more goods."
"Tho report," said Doctor King,
"shows the huge amounts of food in
storage, greatly in excess of the quantity
stored last year.
"The added price at which this food
went into storage must be taken into
consideration, however, ifone is to get
a clear view of the situation.
"Butter, for instanc6, went in this
year at about fifty-one cents a pound;
Inst year, nt about, forty-one. While
it is true that about 75 per cent more
butter wns stored this year tnan last,
it is true also that it cost its present
owners 20 per cent more to buy.
"This has kept down somewhat the
usual seasonal advance in tho price of
butter. The rate of increase in the re
tail price has not been as great this
fall as a year ago. Though this fact
is keeping the normal advance down,
tho higher purchase price in the spring
prevents any great reduction of the
general price' level.
Food Stored at High Prices
"Tho same thing is true .of pthcr
commodities. Cheese was put in stor
age at 23 per cent higher price; eggs
went in nt a' very substantial increase.
It was so with poultry, likewise; in
fact, with every food that went into
btoragc, witli the expectation of a
large export business.
"Therefore, in my judgment, though
the profiteering drive will bring down
prices somewhat, it cannot have sub
stantial results without bankrupting
somebody.
"The large export business that was i
expected nas been Held up because or
the rate of foreign exchango. This has
laid a virtual embargo on our exports."
This barrier of foreign exchange
spoken of by Doctor King has become,
according to his observations, a wall
of gold shutting the United States off
from world' business. The world's gold
is here in the. United States, ho points
out. Every nation owes this country
money. They cannot pay their debts
in goods, which nie the ordinary me
dium of international exchange, be
causo they have nothing to export.
The rate of exchange is against them;
their money is at a discount here, be
cause their credit is impaired. Da en
tho British pound sterling, which used
to be worth from ?4.84 to $4.80, has
. shrunk to Sl.21. Tho French franc.
that used to correspond roughly to our j
quarter-dollnrt ,! quoted nownt a little
less than eight and onc-lmlf cents.
Tho Austrian -kroner, worth eighteen
or twenty cents In American money
beforo tho war, is now valued on mar
kets hero at less than two cents. The
German mark, Motth around twenty
cents or a little more normally. Is
worth less than n nickel in American
money.
Forced to Pay Heavy Premium
Foreign firms that come into the
American market to buy must therefore
pny n ncavy premium in tticlr money
for our goods. Tho German mark is
still worth twenty cents in Germany,
but instead of five German marks being
required to buy a dollar's worth of
American commodities the German pur
chaser in the American market must
now spend twenty. Ho can't do it nud
toll at n profit in Germany, for there
a mark is stilly a mark, and worth
twenty cents.
"One instance enmo to my notice,"
said Doctor King, "where a Belglnn
(inn had an opportunity to sell soruo
machinery to a firm in Mexico. Tho
Belgian house tried to buy the ma
chinery in the United States. It also
got bids from n German firm. It found
that it could purchase the machinery it
needed in Germany nt n net cost ot .'IS
per cent of the American bid.
"Franco nnd Belgium would like, for
f-cutimental renoni, to till their orders
in the United Stntes. Thcv nro forced
to go to Germany for their gocih in
stead, because thev cannot p.iv the pie
Willing rate of American exchange.
Canada is experiencing a tremendous
stimulation of business because ot o
per cent difference in the rate of ex
change. "In the matter of probable changes
in the cost of living in t''0 Uuiti'd
States, this inability to export food
stuffs because of high lates of exchange
will have its effect on food prices here.
Food pi ices probably aie at their apex,
nud from now on will come dowil.
"Not so in clothing, however. Deal
ers uru unlikely to get all the heav -weight
clothing they ordered from the
manufacturers for this season, nnd will
ba fortunate if they get all the light
weight clothing they havo. ordered for
next spring. Tho one ray of hope that
I sec is the chance that the British
v.in uucliuu some or tncir wool hold
ing in the Boston wool market.
"Tho demand for boots and shoes is
so great that there can be no possible
decreUso in prices this jear, even if
export is cut off. .
Building Materials Remain High
"Building materials certainly will
remain dear for a venr nt lnnst v,.,..
est production is now only CO per cent of
minimi, uue in pair, to labor conditions.
There is no question that steel prices
would be driven up if we could expot
steel products. The steel strike prob
ably will create n steel shortage fit
domestic use, which will keep prices
from going down.
"This country will have to wait for
imports from abroad to biing our prices
back to normal. We- aro the great
creditor nation of the earth. Wo must
bring in-goods; gold will not answer.
"Dvery county on earth is short on
commodities of nil sorts; but every
country is shorter than we ore. They
must bring up their own domestic sup
ply before they are able to export to
us. If we could' get machinery to
them, they could soon send manufac
tured products to us.
"It is not difficult to make n pretty
good diagnosis of the high cost of liv
ing. Goods have been destrojed;
7,fi00,000 men producers have hf-en
killed ; countless others have been
maimed ; production is low. Wo nre
going to have high prices until foreign
production has been restored."
NAVYHOMETHEFT
Do you know that a Fac
tory or Mill, already
built and ready for you,
is one of the hardest bits
of real estate to find?
Yet we have 3 of them
on our list a 3 to 1
chance the 'ccise thing
you want is waiting for
"you. We've 7 factory
sites, too all close to
town. Having just what
you want just when you
Want it is' the big thing
in Life; and in Real
Estate, tool
-ReaitorS
Cltu Olfl.ce, Chestnut at 13th
Boulevard Of flee. Cor. A'f Jin? Sun Ave.
Oak Lane Oflce. Ovvosite Station
t
To Votamsr Ton
OUWBOAL TMST OOMTAHT
"The Estates
of Women"
is the title of a booklet which we
should be'glad to put into the hands
r of every woman in this vicinity who
owns property, whose husbancj owns
property, or who is merely interested
in trie subject.
We invite women to write, call or
telephone for a copy and to feel
welcome to call and discuss with us
any questions that may arise.
Commercial Trust Cpmpany
City Hall Square West
Member Federal Reaerve System
LAIDT0EW1PL0YE
Polico Say Taking of $10,000 in
Liberty Bonds Was
"Inside Job"
OLD SAILORS
amazingly hazardous enterprise will be
told by Lieutenant Sir Arthur Brown
at tho Academy of Music on Thursday
evening, October 10, under the aus
pices of tho Engineers' Onib of Phila
delphia and tho Aero Club of Penn
sylvania. The Miccessful nonstop flight won
for Lieutenant Brown, the nuvigator,
nnd Cnptiiin John Alcork, pilot, the
prize of $."(1,000 offered by the London
Daily Mail. At tho same time the
nvlntors were knighted by King (leorge,
both honors being conferred by Win
ston Churchill
.1 --
800 In Douglass Hospital Drive
Tho Douglass Hospital campaign
Trade Commission, jn Washington, as
halng been guilty of violating the cum
mission's lutings in regard to com
mercliil transactions.
The funis arc the Charles .T l-'ox
CoinpaiO, the Dobbins Manufacturing
Company and the Enterprise Company,
nil three soap manufacturing companies,
and the Engineering Supply Compnnj
Those, ulth tift,.pii nthrr rnmimnipH
I.. .!..' ii. " "" i. . . 1... i, " VV"f
Olirrmrnn . ... . ,. . . ' '" """ ' """, are uirocrcu o.v ii' i'ru-
oUrrbnenS fund committee will send fcOO volunteer cral Trade Commission to "discontinue
I workers Into every section of tho city the pincticc of giving gratuities, Mich
' .. ut...in,. i. nKfn( s.-.n iwin tnr it, ' meals, eutritainmcnt, presents or
FOUR CITY FIRMS WARNED
Federal Trade Commission Declares
They Have Violated Rulings
1'our I'hltmlelnMn firms urn Included
In a list issued tndnv bv the I-Vdeim
rtf.-4.
v
The the ft- of $10,000 hi Libeitv I mipport 0f 'the hospital. This Instltu- ' Han '"0''. employ of theii
Bonds, partly the property of aged Mill- ?'' l t jr, j omijr,i streit is one '"""toniers or pimpcctive customers, to
prs in the Nnynl Home, who were pnj - ,)f ,lc mrK;,Mt ',, best-equipped hos- inllurncn the pmclintc of supplies."
Ing for them in small installments, was ,.,.., rnn,rnitPli i)V colored people in 1 Tl"' follr '"ins n this c ty declare
an "inside" job. it was said nt the ' nlV.?2?lr.01 p..i $L .AIi."i T.'.' tint thev have not. boon nntlfie.l hv the
I 111 IS CUU11U J , Ullt IIUC1 nut i-vm; fiuiu , . I - - -
n,(j vwm.u.oa.uM.
detective bureau today,
The robherv was committed enrlv
yesterday morning, and was discovered1
because the thief forget the custom at
the home, which is to lcne the safe un
Brookfleld Commands Guard Boys
Lieutenant fnlmiol linlinrt M Itrnnk.
Koipo. j.,1 .. . . . . .:. .
locked., and closed and. locked the door, ntathc J. Hampton Moore wili be Knr,ftlM
rvvenu -eighth diviMon, was
W. H. Taft to Open Civic Drive
William Howard Taft nnd Itepre-
vtiin cue comuiuuiiuu uuer iiuisiuuK uic1 the iirincinai snctiKers nt mo oinein I ,. ,n. i.
, ; .t .. li. 1 !..!.. . -i n mi iin- iii-uiA -en
JV.-. , i .... .. "'""'K i c V'V"' u"- ml"B'' 'icuppointcd jcsteidnS bv the board of
xne vircuiiiiinjiui-3 miuuuuuiuk ii. nt tlie 1101C1 iucipnin uumirrnvv nigiit ( itv trusts ns cnnininnilntit nf ll,n ItnvaM
n """" o""- . - --,,,,. ; iiiiiKu ; " "- "" iiiuuii niooKiieiu nas neon a member ot the
i" nreceilo the .speeches. National (lunid for jcuis
1
the office of the home and the hnbits of
the inmates committed the theft.
Chnplain Harry Tribou is custodian
nf the ancient but substantial mfe
In his absence in Washington this week
the inside safe was kept locked with a
key, the combination on the outstilo
door remaining unlocked. The key was
hidden in a nearby desk drawer. ,
The thief secured the key from the
desk drawer and after looting the snfe,
locked both doors. It wns necessnij to
find the chaplain nt Washington to so
cure the combination before the stums
box could bo opened. Then the cnnn
wns discovered.
The bonds leprescnt. for the most
part, nil the savings of the veterans
Small installment payments were being
laid aside from the pensions received ,
i.v inncit nf the men toward the pur- ,
chase of the bonds. All the stolen bonds
ore registered.
LT. BROWN TO SPEAK HERE
s I
Navigator of Plane Which Flew At
lantic at Academy on October 16
"Landed nt Clifdcn at S:40 Green-1
wich mean time, 15th of June, Vickori- I
Vimv Atlantic machine leaving New
foundland const nt 4:2S p. m., Green i
wich mean time Wth of June. Totnl
time 10 hours 12 minutes. Signed Al
cock and Brown.Jl
Such wns the fjrstf brief nnd modest
message flashed from the aviators in ,
Ireland to the Aero Club of America
The stoiv of this adventurous and .
ELEPHANT
PEA COAL
$
ji? per ton
I'M Cont Is o large nncl clrnn
liurnlne this 3fr It ran be ul
In lirnctloull nnv lieatrr. We
khcchI i trial onkr ot this tco
nomlcal fuel.
"Follow the Flag"
Vi L
ATLVVNTIO
fueLxo'
i s
FRANK F. MATHERS
' S2d St. bel. Baltimore Ave.
S. W. Cor. 10th & Waihington Ave.
Phoms: WW, 478, Dick. 1416
Women's 9-inch
10.00 to 12.00
Laced Boots
k. .(
More than twenty differ
ent styles in Louis heel,
Cuban heel, walking hpel
and low heel models
if
w
Tan Russia Calf
Koko Calf ,
Black Glazed Kid i
Gun-metal Calf
Patent Leather
ALSO
Patent Leather
with arau lad tov
or forest fawn top
Havana Drown
with field mouse top
Koko Calf
with fawn Icid top
.50
ts
'.i1
919921 Market Street
riG04-06 Germantown Ave. ' 2746-18 Germantovvn Ave
juio-ou Lancaster Avenue bum and Chestnut Street
Branch Stores Onen Everv Euentna
Market Sh t sorr Or'n Sa'urday Evening
Speeding forward on the
straight road to efficiency-
The automobile industry is breaking all records. De
mand exceeds supply. Production is double that of a year
ago. Everywhere tremendous speeding-up.
Such expansion such extraordinary growth is a sure test
of any filing system. Library Bureau methods have stood
that test. Today, practically every leading automobile
manufacturer is a large user of L. B. filing systems.
The automobile industry hasno monopoly on activity
or efficiency What L. B. methods have accomplished for
others they will accomplish for you. They are founded on
correct principles and are therefore adaptable to every
'business under the sun.
The very bigness of Library Bureau is ( your protection.
It saves you from experimenting. It offers you card record
and filing systems that have made good in every kind of busi
nessand under all conditions. It offers you experience!
You will be interested in reading about the L. B. central
ized filing system used by one of the largest automobile
manufacturers.
Write for folder 738 WO
Library Bureau
I '
Filing cabinets
wood and steel-
Card and filing Founded 1876
.systems
M. W. MONTGOMERY, ManaBer
910 Chestnut St., PhUadelphia
Salesrooms in leading cities of the United States, Great Britain and France
trawbridse
&C
othier
iatfe
las Aiftiiii mi
i
in Large Quantity
III WJfflWw" -
ir Jr m t s i ii li)' jt ft WyVbHltilPtt
filter
Cfot
ing
and freat Variety
Many Lots at
Prices Much
Below Value
We say we liave in our stock many lots
at prices much below present value, re
ferring to purchases made with especial
fore-knowledge and especial good fortune
many months ago. As a matter of fact,
however, our entire stock is really worth
more than the prices we ask, because it
would cost us more to-day than we paid
Cbut we could not replace it in equal quan
tities at any price). Until production
overtakes consumption, prices cannot
come down and there is an actual short
age in many stores to-day. But WE
HAVE THE GOODS, and we shall protect
our customers to the utmost, taking no
advantage of any advance since our pur
chases were made.
Stein-Bloch, Hart, Schaffner & Marx
and "Alco" Autumn and Winter Suits
$37.50 to $75.00. Winter Overcoats
$37.50 to $110.00.
Other makes of Autumn and Winter
Suits and Overcoats $27.50 to $35.00.
And in Addition,
These Special Lots
Hart, Schaffner & Marx
Autumn Overcoats
Now Marked $33.50
This pi ice being nnproximotelv the sam
as lotailers must pay for similar grades to
day. Nc:'. tweed effects and plain gray fab
rics, in conservative and youthful styles.
Somo belted all around. At about present
wholesale cost.
Hart, Schaffner & Marx
Winter Overcpats
$38.50, $46.50,. $58.50
At S38.30 Ulsters, Ulsterettes and
slip-on-styles. At $46.50 medium-weight
Overcoats and heavy Ulsterettes. At
$58.50 line Chesterfield and Ulster Over
coats. Some silk-lined.
Hart, Schaffner & Marx
Fur-Collar Overcoats
$85.00 and $110.00
A small but very fine lot of SAMPLE
OVERCOATS from these famous manufac
turers. Collars of beaver, nutria, Hudson
seal and opossum. Thete special prices are
about to-day's wholesale prices.
Young- Men's Suits
Special at S38.50
Of a m-ade of unfinished WITH T W O PAIRS OF
worsted that will hold its shapo TROSERS. Of flannel, in blue,
brown creen and gray shades.
cxcepqojijfli vuiue at uiis price.
150 Men's4 Suits Men's "Alco" Suits
Special at $25.00 Special at $38.50
Desirable Serge and Worsted
Suits not eveiv size, but never
theless good selection for men ' exceedingly well. In smart blue,
who choose eaih. ' brown and gieen effects.
For Autumn and Winter Days Raincoats and Leather Motor Coats in many new styles.
.y Straw bridge Clothier Second Floor, Eaet
Extraordinary Sale of Hundreds
of Women's Winter Coats
Six different price-groups, and in each group a variety of models or colors, every
model refined and ?ood-looking and every color in the height of fashion. If you are inter
ested in Winter Coats, we strongly advise an early selection, as these are VERY RE
MARKABLE VALUES.
Burella Cloth and Velour Coats $16.50
Ot burella cloth, silver-tipped and two-tone velours, some belted
all around, others with full, swinging back. All have deep convertible
collar.
Belted Wool Velour Coats at $25.00
Of velour of excellent quality, in navy blue, taupe, brown and
black. Made with deep convertible collar, all-around belt, inset pock
ets. Lined throughout.
Silver-tipped Velour Coats $25.00
In brown and Oxford, lined throughout with excellent lining.
Deep collar that can be worn high at the neck if desired. (See
Sketch).
Velour Coats with Fur Collar $31.50
In black, brown, taupe and navy blue. Made with full back,
plaited and held in at the wrist by narrow belt. Deep collar of seal
coney fur. Lined throughout. (See Sketch).
Kersey Cloth Coats at $32.50
In brown, navy blue, Oxford and black. Made with smart nar
row belt all nrounil, and deep, square collar of the material.
Seal Plush Coats, Exceptional $37.50
A stylish hip-length model of lustrous seal plush, made with
loose, full-swinging back that can be held in with belt if desired;
belted front; deep collar of the pluh.
i'i, . strawbrldge & Clothier Second floor. Centre
Umbrellas Your
Rainy Day Insurance
The good-looking kind you pre
fer to carry. CovrringM of fine
tape-edge Union Taffeta (.silk-and-cotton),
on strong paragon
frames. The smart handles on
WOMEN'S UMBRELLAS are of
fancy carved wood or with bake
lite tops, finished with a wrist
cord. On MEN'S UMBRELLAS
are crook handles of plain or
fancy carved wood. They nre an
exceptionally good value at
$5 00 Strawbrld & Clothier
l,u" All T. Market Slrei
Bleached Muslin for
Sheets and Pillow Cases
Dependable Muslin of excellent
quality at these SPECIAL prices:
42-inch Pillow Casing 32c a yard
63-inch Sheeting 55c a yard
90-inch Sheeting 75c a yard
Strawbrldco Clothier Aisle IS, Centra
Muslin Sheets, $1.85
Double - bed Sheets, 81jc9Q
inches, of muslin in that firm,
heavy weave that looks well and
wears well. You'll find them a
surprisingly good value at $1.65
each.
Strawbrldre ft Clothier
Alile 12, Fllber( Street
Strawbridge & Clothier!
MARKET STREET EIGHTH STREET FILBERT STRBBT?
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