War & Prices

Into the mails last week went Montgomery Ward's regular annual bargain catalogue (good until Feb. 28). It met a roughly 10% cut announced two days earlier by Sears, Roebuck (except on refrigerators). Although leather prices have risen 10% since August, the catalogue's shoe prices are down around 10%. Grey-goods prices have risen 15%, but its cotton sheet and print items are down around 14%. Farm prices have risen 6% since August, and these reductions should give the farm section of the mail-order customers a powerful lift in buying power.

Sears and Ward were able to lower their retail prices in...

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