Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1919-08-15
SWIFT DECLARES
MEAT IS NOT
BEING HOARDED
Large Stocks Are For Con
sumption During Winter,
Says Packer.

ernment action to force swift and
Company to place on the market
products now held in cold storage
might give some temporary relief, IT
would result in scarcity and higher
prices Of poultry, dairy and meat
products next fall and winter, the
house interstate committee was told
today by L. D. H. Weld, manager Of
the company's commercial research
department.
The committee is holding hearings
on legislation regulating cold storage
systems. s
Denying that swift and company
are engaged in, boarding food
products Mr. weld said # NQnid be
IAN extremely dangerous policy for
the government to disregard the ex-
pert knowledge of those In the busi-
ness and market the supply Of meat
foods sooner than conditions justi-
fied.' ,
Chicago, Aug. 15.-The great sup
plies of food now held in storage are
placed there for use during seasonal
shortages, according to Louis F. Swift,
president Of Swift & Co. ~
i In commenting today upon the ag-
tation in favor of confiscation OF
stocks of food, Mr.. swift said: Swift
& Co. denies that the foodstuffs which
1t is holding in storage have been
put there for speculative purposes.
Cold storage performs real economic
service not generally appreciated by
the public. The present system has
they want some of this produce
throughout all the year. That is to
say, they do not want to eat all their
eggs in SIX months and then go with
out during the remainder of the year.
IF it were not for cold storage
much of the perishable food produced
during the months of heavy produc-
ton would be lost because the supply
would tempcfarily exceed the demand
and prices would fall so low that pro-
duction would be discouraged. Later
without stolose stocks to draw from,
serious shortage of these commod1-
ties would occur. With resultant high
prices nobody would benefit from
such a situation and consumers would
pay much higher average prices.
Swift & Co. does not purchase and
store goods for speculation but mere
ly to assure our branch houses Of q
supply sufficient to meet the needs
Of their trade throughout the year.
( If stocks of butter. eggs and other
commodities are commandeered and
SAAOWA OAA Tic AAAAA AhON IASAC 40 AASSlS
question but that current prices will
be- forced down temporarily, but
where will your butter and eggs
come from next winter, when these
storage stocks normally would be
used to bridge ovcri these months
Of small productionf
Finally the public does not appre-
ciate that the apparently large stocks
Of meat in storage are not being held
there until prices are Increased, but
are really in the process Of manufac-
ture. Over 50 per cent OF the foods
In cold storage Is meats and meat
products, according to the govern
ment report Of the bureau of mar
kets for July 1, and of these approxf-
mately "a per cent is in process Of
being cured in pickle or salt or -
awaiting curing and 20 IN not avail
able for immediate consumption, even
though commandeered. IS: IS Is
when analyzed In the light Of
these facts the Importance OF these
apparently tremendous stocks OF
boarded foods begins to diminish.
This is q good example Of Why the
packing industry is misunderstood,
largely because we cannot keep The
public informed on all the practical
and highly technical phases Of our
business and sbecAuse many Of the
facts published from other sources
are presented N q, sensational manner
which creates unwarranted preju-
AS<Sa>, J.