The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1911-01-31

selves. II comes from the leading
bankers and business men In those
small communities; who realize the
disastrous effects upon their own bust.
ness of that sort Of speculation and
observe around them the public dis
grace and financial ruin which often
attend the speculative efforts or those
who trade. The chief support Of the.
'anti.future' Legislation In Congress
comes from those sections or the coun.
try in which private wire offices have
heretofore operated. II Is my posi-.
ton now and 1t has been for years
that 1T should be beneath the dignity.
Of any member here to solicit or ac..
cept speculative business from bank:
ers and others III a fiduciary capacity,
and from employees or fellow. members,
except under stringent regulation 4,
The sudden slump Of wholesale
prices for butter and eggs IN Chicago,
which the retailers finally allowed to,
cut the consumers, cost Of living, was
laid to the cold storage houses by some
now. for q reduction of.the costs of,ily
moi for a reduction Of the costs Of iliy.
ing or for an advance a year ago are.
not borne out by government stalls
tics. Only a year ago commission
houses, then pointing to cold storage
houses as the cause 81 conditions;
quite the reverse, were confronted by
the government figures which show
that the annual crop OF eggs is almost
10000, 900 cases Of which less than s.
per cent. Is stored and that the ball
ance, over % per cent. goes direct to-
the consumer. In the city Of Chicago.
In 1903, there were stored approx
mately 100000 cases Of eggs. and a
eggs, and a careful canvass 81 the
leading houses showed that these eggs.
were owned by61ss persons or firms.
Another South Water street merchant:
offered an amusing explanation ofSthe
present butter and egg situation. ut!
Is all due to the farmers eating cleo.
margarine" he declared. 1.-THE farm
ers nowadays, and I mean nearly IS
per cent. Of them, take their milk and
butter to the market and carry home
oleomargertne for their own tables.
It Is cheaper and by doing this they.
decrease the consumption OF butter
and throw 50 great an amount into
the city market that the storage peo.s
pie have to fill their houses with IT.
Then at a time like this 1t is sudden.
" unloaaed and you see the result!
However, the cold storage Is not; en-,
titled to credit now for the glut and
low prices Of butter nor blame for;
high prices Of a year ago. The govern
ment, reports show, that OF all the but.
ter produced in the country, not over
6 per cent. Is, put away into storage.
while "a per cent. goes into immediate
use, and a small proportion Of the;
crop could not control the market
The topsprlce for. storage butter this
season was 90 ~ cents per pound.
while finest fresh butter during the;
period Of storms and unusually cold
weather. did not go above SO cents,
yet, in 1882, before modern cold storr,t
age was known, the price OF butter at
Elgin for the week Of February goth.
vas AS to SO cents, and the average
price for the month was As "a cents.
" fresh meat less than 3 per cent, Is
placed In storage. ,ss,i \ n
& The problem Of efficiency and con-
.servation which efficiency implies
raised by Louis Brandeis withregard to.
the railroads. has given the packing.
business Of Chicago Il new interest,"
Whatever the merits Of the case In the;
!eueral = courts. The economies Of
ameat packing In which by;productss
produce the profits, have been given;
standing as real conservation. i"sThereS
Is no industry In which the selling
price :ollows the cost more Closely
Louis f.. Swift said In his report asi
president Of Swift & Company q al the
recent annual meeting OF that COM.
.pany Swift q Company's result
sheets show less than 9 PEI: cent, prof.
It on sales during 1910: h AZ profit Sis5
madeson{ by-products, which were vast.
ed before we had learned how to util.3
lie them by the aid u modern 3macilin-.
cry and scientific handling THAT;
high prices penallzed the packers was
the Sascept nut upon the cost on liyings
BY hlssexplanatIon for the incrense 81
capital from $500, 1000 600 to s7s,6 100000