Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1917-10-19
Corner Has Now Been Turned
and Wholesalers and Man.
ufacturers Are 0beying Law
Generally.
PRODUCERS CANNOT BE
LEGALLY REGULATED
Expects Public Sentiment to
Handle Retailers; Quotes
Figures at Which Staples
Should Sell,

tsv nossihs JOURNAL SPECIAL LsAsxo wiRGl
Washington. Oct. 1S.-Food Admin
istrator Hoover announced today that
subject to cooperation from the
farmers and retailers, the corner has
now been turned in high prices fol
food. He said retail prices had moi
come down to conform to wholesale
reductions and that was matter fol
public sentiment to correct.
The administration statement said:
The food administration considers
that. subject to cooperation from the
farmers and the retailers, the corner
| has now been turned in high prices
and that most of the essential COM
modities should one after another con.
tinue to show reductions between now
and the end of the year. The food
administration has no control OF
either the grower or his organizations
Nor of the great majority Of retailers
The foundations have been laid fol
regulation Of the intermediate trades
and where these regulations have
come into force and the trades arc
cooperating finely, considerable re.
suits are evident in the wholesale
| prices.
How Prices Vary.
| "The current prices at which flour
| is being sold at the mill door in jutt
bags vary somewhat with the locality
and freight charges on wheat, Toledo
showing the lowest prices at $40 fol
first patent and 1910 for second pat.
ent, the highest being Buffalo a
$10.70 for first patent and 5000 fol
second patent; Minneapolis being
$1,000 for first patent and $1o.45 fol
second patent. This shows large
reduction under August prices.
THE regulations in the distribution
Of wheat and the manufacture oi
flour were put into force the middle
OF September
The average retail price on frs
patents in 796 cities on October 1;
was $13.77 or from $3.50 to 81 pei
barrel higher than is warranted b,
the price being made by the millers
| In other words the retail price ha'
not wholly responded to the reduc'
tions made by the millers
Bean Crop Large.
"The bean harvest this year is esti
mated by the department of agricul
ture at approximately 100000 bush
els in excess Of last year or nearl!
double last year and promises al
abundant supply. The growers asso
Citations in prominent bean producing
states are holding beans for from
13k to 15 cents per pound as agains
an average price realized by the grow
er last year Of cents a pound. Their
has been 100 per cent increase in tn
.Manchurian bean crop and it is nov
estimated at 100000 tons Owinl
to shipping shortage, practically tn
only outlet is to the United States an,
these beans will flow into the Ameri
can market from December on, mucl
below the prices now being demanded
for American beans.
"The corn harvest this year is 500,
900, 900 to 700, 10000 bushels owe
last year and will be generally avail
able about the end of November. TIL
\ price of corn rose to $3.50 per bushe
in July and now stands at $f.90 pc
bushel in Chicago. New corn !
quoted in Chicago at $1.13 per bushe
for December and indicates nearly
40 per cent drop in the price OF corr
meal when the new corn is generall
available.
Will Hold Down Prices.
i 1.-THE very large corn supplies from
the new harvest, together with tn
larger supplies of barley. velvet beans
cotton seed, peanut and soy beal
meal. all promise much cheaper cat
tie, hog and poultry feed and will en-
able the producton Of beef, pork
poultry and dairy products at nue.
lower levels Of cost to the farmer
than today and his earnings can b.
maintained with lower prices of prod
ucts. The packing, cold storage AM
other manufacturing and wholesal
distributors in these trades are II
course of regulation.
Beef already shows some tendenc
toward reduction in wholesale price
but these have not been so far re
Elected in the prices quoted by tn
retailer. The price of beef at tn
packers door is 141s cents per poun
as compared with Is cents In tn
month Of July, while the average re
tail price OF round steak in 10