The Washington times., 1914-08-25
SCARE CAUSED RISE,
DECLARES MEEKER
Families Began Buying in
Large Quantities Soon as
the War Began.

CHICAGO. Aug. 25.-Regarding the in
crease in the cost Of living since the
European war began, Arthur Meeker,
managing director Of Armour & Co., is
sued today the following statement:
When all Europe went war mad
little over two weeks ago, every news
paper in America proclaimed or predict
ed. in one way or another. rise in
prices of almost every article of COM
merce. That alone would cause, as 1t
did. prices to rise, because both con-
sumers and dealers everywhere were inn
mediately prompted to anticipate the
rise by quick and heavy buying. Food
prices were affected first. Of course. and
scare" was on. Then the scare"
was exploited and that still further
stimulated the buying impulse. Unprec-
edented demand was created and higher
prices grew with 1t.
Families which ordinarily buy sugar
and flour by FIVE and ten pounds were
buying by the barrel. Retailers who or
dinarily buy in Ave and ten case lots
were buying. or trying to buy, in ffty
case lots. AS a consequence wholesale
end retail houses report an unheard-ot
volume Of business in the last week or
two-more volume in week. In some
cases, than in the whole month OF July.
No One Can Control
Under such conditions, and particu-
Iarly when the conditions are stimu-
lated by sensational exploitation OF
reckless statements. no human power
can control, regulate, or modify price
tendencies until the law Of supply and
demand Is repealed.
prices have been less affected than prices
OF many other foods by the European
war excitement. The wonder Is they
have not been more affected with this
scare added to an accentuated live
stock IN a,r at she Six
markets. Chicago. Kansas City. St Joe,
South Omaha. st. Louis, and Fort
Worth-fcr the six weeks ending Al
gust L., 1914. were unly $1,000. decline
Of Is ker cent from the corresponding
period OF 1917.
"In spite of this shortage. in spite
of the stoppage Of beef Importation
from Argentina because ships could not
be had after war was declared. and
in spite of fluctuations on account OF
the high price scare the average
wholesale selling price Of beef. during
the six weeks preceding August Is. ad-
vanced in no large city in the United
States, as much as three quarters of
a cent a pound. In Chicago the ad-
vance was seventy-four hundredths OF
cent: in Pittsburgh. forty-six one hun
dredths; in Baltimore sixty one-hun-
dredths: in New York seventy-one one
throughout the United States on all
teef actually sold through Armour s
Co.'S go branch houses was fifty-stx
one hundredths Of G. cent a pound.
The hog shortage has been even
more acute During the six weeks prior
to August Is, Armour & Co killed at
all OF its nine plants an average Of
1900 hogs a week or less than one
half of the average weekly kill for
the week of sharpest fluctuations in
some lines Of pork products-Armour &
Co. killed only 1900 hogs at nine plants,
or only L. per cent of fair average.
During these six weeks the cost OF
hogs advanced from ss.2s per hundred
to S9.13 per hundred.
Not Enough Loins.
Much has been made of pork loin
prices At times during these recent
weeks. pork Ioins could not be, had in
many places at any price. There were
not enough to go around. The weekly
average selling price of pork loins sold
at Armour & Co.'S wholesale market az
the Union stockyards. Chicago. during
the last four weeks were: Week end
ing July %, 1865 per hundred pounds;
August l. 1859: August s. sls.I: August
is. :ls.Is
The packers have been accused of
piling up vast quantities OF fresh meats
in cold storage and holding for high
prices during this period Of agitation.
Armour & Co.'S stock Of fresh meat
products Of all kinds on hand August
lh was nearly so per cent less than it
vas six weeks before. Stocks in hand
are now about the same as last year at
this time. although considerably less
than IN other years at this tirle.
Armour & Co stock of sweet pick
led and dry salt meats today is 17,0OO 600
pounds Sss than it was on June S, and
only three-fourths what it was a year
ago now. Does that look like holding
prices?
These are but a few concrete facts
from the books and records of Armour
& Co They speak for themselves. They
can and will be added to. amplified and
substantiated beyond the shadow OF q
aou9t 1e =. to any honest seeker after :he