Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1906-02-22
Over Supply Has Forced the
Price Down to Shilling
May Still Go Lower
DEALERS PAYING ~ CENTS
Situation is Unprecedented, and Chi
oaao Spectators on Storage Eggs
Stand to Lose $7,ooo,ooo-Durins En-
tire Year Of 1905 Dealers Did Not
Pay Lower Than IA Cents-Reac-
ton Probable.

With egg spectators in chicago
standing to lose $7,000,000 on packed
eggs and the busy hens supplying
more eggs than is demanded by con-
sumers. the bottom has dropped com
pletely out of the local egg market
and instead of Is cents, quoted on
Monday by grocers as the ruling price
for the week. the market has dropped
to IL cents, paid today. Dealers are
selling al loss, for they have guam
titles of Is and decent eggs on hand
that are selling at shilling. The mar
gin on what are being bought now is
only a half-cent, SO that there Is ao-
solutely nothing in even the eggs
bought now at the lower price.
The manipulation of the egg market
by the cold storage people has resulted
in the storage people being caught at
their own game, and Chicago papers
this morning announce that, with an
estimated supply on hand of 63,000.Ooo
Dozen the packers stand to lose W.
10000 on the season. The eggs at
this time are hardly fit for anything
but bakers use, and will not sell for
table purposes even at Z. cents.
Will Go Even Lower, But Will React.
A well-known grocer, when asked to-
day about the situation, said that in
his opinion eggs will go to 10 cents
before there is any reaction, but he
believes that the market will react Ii
there should be a few cold days the
price will tend upward, and If 1t re-
mains warm the market will be AFFECT
ed by the fact that egg producers will
be wanting to use great many OF
their eggs for setting purposes. This
invariably affects the egg market. The
grocer says he would not be surprised
If some one would offer eggs at 10
cents at any rate by the last of the
week, and perhaps by tomorrow. The
difference in the situation, compared
to last year, is marked, as during the
entire year Of 1905 local grocers never,
at any time, paid less than IA cents
for fresh eggs.
Situation in Chicago.
The egg situation in Chicago is told
fby the Tribune of this morning as fol-
lows:
with cold storage eggs selling at
Z cents and fresh ones at 121s cents
a dozen, egg spectators are waking up
to the fact that they have large white
elephant in their possession. The in
dustrious hen and the weather have
co-operated and defied all precedents
this winter. AS result loss of
$7,O0O,000 in round numbers is staring
the spectators in the face.
For the first time in years the price
of fresh eggs at this season of the
year Is lower than the price at which
eggs were bought last spring to put
in cold storage. A year ago eggs were
extravagantly high. Consequently in
April and May last year there was a
grand rush to buy eggs for cold stor-
age purposes.
'aThe average price paid was 16h to
II cents dozen, which with the stor-
age, insurance, and interest charges
added makes the cost Of the eggs up to
date approximately 1872 cents.
Contrary to precedent there has not
been a time since the eggs went into
storage that they have shown pro-
fit. At prevailing quotations there is
in prospect for the Spectator an av-
erage loss Of liz cents a dozen, with
the carrying charges piling up every
day. 1t is estimated that the local
stock Of storage eggs is approximately
60, 100000 Dozen"