New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-01-19
Says Pork Prices
Are Up3O Per Cent
Because of Fixing
e
Petition of the Produce Elk
change Members Appeals
to Gregory to End Activi-
tiesofArbitrary Regulators

Further arbitrary fixing of prices for
hogs and hog products by any govern
ment agency is opposed in petition
addressed to the United States Attor-
ney General which was circulated yes
terday among members of the New
ork Produce Exchange.
Attention of Attorney General Greg
DRY is called to the fact that were 1t
not for activities of the hog price fix
ing committee of the food adminlstra-
ton the market price of pork probably
would be reduced 80 or 40 per cent 1t
is said that even the chairman of this
committee has admitted that but for
the action of the food administration
the price Of pork would come down
from TN cents, the fixed price, to 10
o" II cents pound. The petition says:
"As members of the New York Prod
ucc Exchange, vitality interested in
handling the products of agriculture,
we petition you to take such action as
will prevent any further arbitrary price
fixing of hogs, and consequently of
hog products, by so-called hog price
fixing committee, which as far as we
can learn is acting without legal
status
Price Fixing Long Continued
"Price fixing by this committee has
been IN operation for several months.
AS war measure we would have moth
ing to say, but would Loyalty support
any action of the government for in
creasing the supply of food. 1t is now
no longer war measure, and such
arbitrary action should be stopped. Ev-
erett G. Brown, chairman of the hog
price fixing committee, has openly said
that were it not for the activities OF
his committee hogs would now be sell
ing at from 10 to u cents pound
instead of liz cents pound. the price
arbitrarily fixed by his committee.
"What end in view the committee has
in holding the price at from to I
cents pound above the normal price,
based on supply and demand, we do
not know but we do know that the
arbitrary action of this committee is
placing a heavy burden on the long
suffering consumers.
GAS a war measure, we'll and good
but in peace the old law OF supply and
demand can fix prices better than any
= "
is now at an end and whose activities,
il they cannot be entirely suppressed,
should be held down to the strict letter
of the law"
Fight Begun in Chicago
The fight against government regu-
lation of pork prices came to d head
with the action of the Chicago Board
of Trade, which last Friday forwarded
a similar protest to the authorities at
Washington. Prior TO that commit
tee of members of the New \ DIRK Prod
uce Exchange had gone to Washington
with the object of finding out why
members of the exchange did not re-
ceve orders on offerings made to the
food administration on pork products,
Notwithstanding the fact that they
were ready to sell at less than the fixed
price. The committee was told that the
food administration would give orders
TO producers only.
The members of the New York
Produce Exchange consequently hold
the government responsible for keep
ing the cost of foodstuffs higher than
the law of supply and demand would
warrant.
Some see in the governments action
IN regard to hog prices an effort to
stimulate production Of pork products
Effect Already Felt
The effect of the continuance of price
fixing has already been felt in the
local market, for British buyers have
practically disappeared, and it is not
expected that they viii be in the mar
ket for many weeks, perhaps months.
According to a recent cablcgram re-
ceived from Liverpool the British Food
Ministry had stocks on hand and on
order amounting to 10000 tons of
meat and $4,000 tons of lard, which
were estimated to be sufficient to pro-
vide for consumption for sixteen weeks
The ministry further stated that it did
not intend to make further purchases
and would not permit private shipment
until present stocks had been materi-
ally reduced