PRICES: Grass in Worth Street

For the first time in a month, the cotton gray-goods market in Manhattan's Worth Street did business this week. Reason: Leon Henderson decided under pressure that the gray-goods price ceiling he set last month was too low, issued his first order revising an entire industry ceiling upward.

The old ceiling set maximum prices at about 15% less than late June levels, pegged print cloth at 39¢ a lb. Manufacturers, who said this made no allowance for higher costs of raw cotton and labor, simply refused to sell. Grass grew in Worth Street.

Now the maximum for print goods is upped to 43¢—a...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!