Retailing: The Great Discount Day

Bargains at Tiffany's! The emporium that has seldom had a sale in its 128-year history closed its banklike doors for a day to reduce price tags on the 172,415 baubles in its stores in Manhattan, Houston, San Francisco and Beverly Hills. A 128-carat, inch-wide un-mounted diamond will be reduced from $1,000,000 to $900,000; a $4.50 silver key ring will drop to $4. These cuts —and millions of others across the U.S.— were brought about by the repeal this week of most U.S. excise taxes and the reduction of others (see THE NATION). As the act went into effect...

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