THE ECONOMY: Parade Down

Tired of waiting for lagging sales to pick up by themselves, more & more manufacturers and retailers were prodding them last week in an old-fashioned way: they were cutting prices.

Sears, Roebuck & Co. was up with the parade. Sears slashed refrigerator prices 8%, trimmed automobile battery prices 15%, and reduced overalls, blue jeans, dungarees, etc. by 9%.

General Electric Co.'s President Charles E. Wilson also moved fast. He trimmed an estimated $40 million a year, at present volume, off the retail prices of his products, and put out a new 10-in.-screen table model television set at $239 (compared with $325...

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