New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-21
SEE BOOM IN LOW PRICES
Better Business, Say Merchants,
if Taft Forecast Is True.
NO EFFECT ON RATES YET
But Foodstuff Dealers Are
Hopeful That High Cost OF
Living Is Really on Wane.

The prophecy of reduction in the high
cost of living made by President Taft In
his statement from Beverly Saturday has
met with enthusiasm from both dealer
and ultimate consumer. In spite OF the
fact that local purveyors of food COM
modltIes cannot report any immediate
decrease in rates, the showing of bumper
crops made by Secretary Wilson OF the
Department Of Agriculture, on which the
President based his forecast, leads to the
hope that the climax OF high prices has
been reached.
According to the report Of Secretary
Wilson, the aggregate crop will be nearly
20 per cent greater than a year ago. This
Increase applies particularly to wheat
corn and hay. which commodities are
leading food supplies OF both human
beings and cattle The effect OF the
greater production will be, according TO
Secretary Wilson, n lowering Of prices
which will bring cheaper meat butter
eggs and other foodstufis.
Although | see no decline In the. staple
foodstuffs at the present time Julius ID.
Mahr president OF the Mercantile Ex-
change, said yesterday, II sincerely hope
IT will come soon, as has been prophesied.
II IT does. it will mean an Improvement
Of all business.
in the wholesale egg and butter mar
ket prices have been high in the past be-
cause OF the high cost OF feed and be-
cause OF the demand for the higher grades
OF goods. Secretary Wilson's report In
dlcates large corn and grain crops, with
a marked reduction in the price of hay,
for instance. over that Of last year. That
means at least d partial cut in the price
of feed.
Trouble Has Been Demand.
AS for the very high prices paid for
certain goods. that has been due TO a
demand greater by far than the supply.
There is no combination I'm the matter,
nothing but an increased demand for the
very best With n supply sufficient to
meet that demand-that is, with better
conditions for productlon-l hope for
marked reduction"
Beef. which has SCARED highest among
foodstuffs. will be slow to decline. accord
ing 10 the Secretary OF Agriculture. 1t
will not decline at all, at least under
present conditions, according to Harry
Dowle. Of the firm Of Dewinter q Co.
produce dealers.
Beef and pork are high all over the
NJ stated E4gfgTtuV 'eN-
cept In Argentina. France. Germany and
other continental countries are also pay
ing high prices. with a demand greater
than the supply 4 reduction Of the
tariff on beef coming in from the Argen-
tine Republic would help the local state
OF affairs. but otherwise prices are GER
tain 20 remain stiff.
High prices on beef bean high prices
in poultry as a result This Is because
where there Is not beef enough 10 supply
the market poultry Is a substitute and
has thereby greater consumption.
For the present, al least, poultry Is
likely 10 remain about the same. During
the last ten days and through the month
Of November chickens will be somewhat
cheaper. because this Is the time OF the
year when the supply Is good. But the
cold. wet spring has raised the general
standard, with the result that young
chickens are selling from 10 cents
higher a pound than last year and fowls
from 3 20 4 cents higher. Broilers are
bringing from 20 to IS cents pound and
will continue strong, l believe. for the
balance OF the year.