The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-27
Tumbled to p Cents Yester-
day, Which Is Almost as
Low asLast Year.
12-CENT DROP IN A WEEK
Came Back to Earth as Suddenly
as 1t Shot Up Rain and
Creamery Prospects
Responsible.

Creamery butter sold in ST. Paul yes
terday for q cents, a drop of 3 cents in
tWenty-four hours, and drop of II cents
in one week. Its sudden and unexpected
soaring last week was paralleled by it's
n4eteoric descent during the past week,
and yesterday it struck the bottom with
thud and is likely to remain at about
that figure, with slight fluctuations for
some time to come.
One year ago extra creamery butter
w2s quoted at 1914 and 20 cents Wholesale
so that the present price is, under the
circumstances, exceptionally moderate
and cannot be complained of.
This is probably the legitimate spring
break Present prices may hold few
days and further declines come slowly
but it is too late to expect any recovery.
The general rains Of Friday throughout
the West undoubtedly had considerable
to do with the drop in the market.
Butter was about due-to drop anyway.
Reports from all over the West indicated
that there would be very sudden and
material increase in the supply of fresh
butter Warm weather was becoming
more general throughout the West, and
the rain was the final cap to the situa-
ton. The rain meant the near approa ch
OF, pastures suitable for grazing, and that
meant good supply of grass butter.
Conditions Were Peculiar.
5 The record of the year in butter prices
was made shortly before the final down
ward turn came The shortness of sup
plies drove the rate on fancy creamery
up to SO cents, the highest point of the
season. and not exceeded at any previous
time since the spring of 1893, when a rec
ord of IS cents was established. Condi-
tons were peculiar, and the advances
had come in the face of a determination
to keep clean floors and strong effort
to prevent prices from going so high.
1t was Saturday, a week ago, before
there was the slightest intimauon that
a break was coming. Even then the close
clearance of stock led some operators to
predict that a still further advance was
likely to occur. But consumptive outlets
had been constantly narrowing as a re-
suit of the high price, and with the first
show of weakness enough sellers threw
supplies on the market to break the prise
cents a pound. This resulted in a much
unsettled condition, but at the opening
of the week evidences of the necessity
of getting on lower basis at once null
tipiied so rapidly that a further slump
of cents was recorded on first days
business A drop of cents in two bust
ness days was so entirely unexpected
that it upset matters considerably for
the move as a wise decision but most
operators argued that even if the break
was largely sentimental it had come at a
good time and was on the whole welcom-
ed. 1t could hardly have found the trade
in better shape as there was practically
no accumulated stock in the hands of
either receivers, jobbers or retailers,
hence no severe losses to mourn over.
Last year there was a large amount
of storage butter waiting for d market,
and it is a question if the holders of that
grade got out more than even. This year
when the price began to creep up there
was no storage butter in the East or
West and the bakers and others who
largely to use storage and renovated but
ter were forced TO take on the best but
ter. Scarcity of butter forced prices up
this year, and scarcity was produced by
a diminished supply. As it was almost
entirely proposition of supply and de-
mand the increased fresh supply promised
by the creameries of the country brought
the market down to what it ordinarily
would be at this time of the year under
normal conditions.