Arizona republican., 1917-10-19
CORNER IS TURNED
 IN FOOD PRICES
 DECLARES HOOVER
Continued from Page One)

of corn rose to $2.3O per bushel in July and now stands at $190 per bushel in Chicago. New corn is quoted in Chi cago at $1.13 per bushel for December and indicates nearly a forty per cent drop in the price of corn meal when the new corn is e.>eraily available.
 The very large corn supplies from the new harvest, together with the larger supplies of barley velvet beans, cottonseed, peanut and soy bean meal, all promise much cheaper cattle, hog and poultry feed and will enable the production of beef, pork, poultry and dairy products at much lower levels of cost to the farmers than today and his earnings can be maintained with lower prices of products. The pack ing cold storage and other manufac turing and wholesale distributors in these trades are in course of regula ton.
 Beef already shows some tendency toward reduction in wholesale prices but these have not so far reflected in the prices quoted by the retailer. The price of beef at the packers door is 141 cents per pound as compared with 16 cents in the month of July, while the average retail prices of round steak in 796 cities is 31 cents per pound against 27 cents per pound in July thus showing that retail prices have increased while wholesale prices have decreased
 We have potato harvest of 59 per cent in excess ot the crop of last year. The price at the loading points varies from $50 to $2.80 per hundred pounds, depending on the section where grown and the cost of getting them to market. The price, which IS somewhat higher than at this period last year, is due to a tendency on the part of the producer to hold the po- tatoes for higher prices than last year, despite the greatly increased crop, and to the temporary inability of the rail roads to furnish equipment sufficient to move from many sections the quan- tity available at this time. The av- craze price of potatoes delivered i'll the markets has closely followed the price which the producer has received plus the cost ol distribution to the market.
 The larger supply of cars and the large harvest warrant lower prices later in the fall.
 Beet sugar prices are being con- trolled by the manufacturers upon a basis that should reach the retailer from 8 to-8A cents per pound, depend- ing upon the locality. Sugar to con- fectioners from beet factories is now being restricted and a temporary short age in the northwestern states gives no warranty for the advances by re- tailers to over g cents per pound, for this allows fair margin upon the prices paid by them for cane sugar they are now selling.
 "The price of new Cuban, Porto Rican and Hawaiian harvest in De- cember will maintain the beet level as soon as it is available. The beet level is 1A below August prices and without the concerted action of beet manufacturers and the refiners of cane sugar, prices would now be up to 15 cents owing to the short supplies dur ing the next few weeks.
 In order to provide equally good substitutes for lard and cooking rats. the food administration is arranging for the import of larger supplies of cccOanut, palms, nut mad soya bean oils. This should also affect the prices of soap.
 Since the food administration came into existence on August 10, a great deal of eXertion has been required to remedy food situations growing out oi the over export and short supplies oi the 1916 harvest.
 There were no reserve stocks in practically all of the main staples with which to enter the new harvest year, and, in fact, in some of the principal staples the exports had proceeded to such lengths that there was an abso- lute undersupply of our own necessi- ties during the past two months.
 "On the top of this situation, vari- ous factors have interfered with the earlier arrival of the new harvest The